Autumn 0f 2008

Inventory is up, sales have been slower than they were the past few years. Does this mean time to panic? Is the economy going down the tubes and we are all going to lose our shirts? Of course not.

Don't you remember your social studies classes, or in my case, my university economics class? Everything goes in cycles. How would anyone ever expect the housing market to maintain such strong growth for so long? Buyers were being priced out of the market place. Things had to slow down.

Will the market ever turn around again? Of course it will, it's just a matter of when. What do you think about this coming spring? Spring is when the flowers start to bloom and the grass turns green. The days get longer and the weather gets warmer. PLUS, the US will have a new government. With a new government comes optimism. With optimism comes happy people, confident people, with a brighter outlook on life! Here in Canada, we too could have a new government. Looks more like it will be the same party, but a majority this time. They will actually be able to do something with the worry of losing power in a non-confidence vote. More optimism!

Of course there are no guarantees and my crystal ball broke, so my predictions are not worth a whole lot, but I do like the theory. Let's see if is right. Hmmmm...perhaps I should go get a 6-49 ticket. I mean what if I can predict the future....

September 2008

Listings from Brokerages within the Brooks Real Estate Board indicate that there are 14 single family residential listings in the Town of Vulcan as of September 8, 2008. This is a large selection of homes for sale as the past few years have had a very low inventory. There are 6 acreages listed within the County of Vulcan and 6 parcels of farmland.

Time for Harvest

The crops are turning and farmers are out harvesting. The golden crops make for a magnificant sight!

There is a good selection of houses for sale in Vulcan, giving Buyers a better choice than they had about 18 months ago.

Keeping it Green

Thanks to Mother Nature, we are keeping it green in the county. The rains have been coming at just the right time and the grass is soaking it up! Mind you, some of the rain has come with some thunder and other fun stuff, but who are we to complain?

In general, the real estate market has slowed down, which is a good thing for buyers. You have more inventory to choose from than last year. As a seller, you have to be more competitive with your property, both in pricing and what you have to offer. The market is levelling out which helps make the economy more sustainable. This is a general theme not just in Vulcan, but in the real estate market throughout much of Canada.

Food for thought

Someone was quoted in stating "Many people wish to wait until next year, when prices may be lower, which of course, is a risk in and of itself. Prices may be lower, or may be higher. How many times have you waited for that special sweater at your favourite store to be marked down, only to discover that it was snapped up by someone else before you had the chance to purchase it?

If may be a simple analogy, but the principle is the same: Sometimes you snooze, you lose. If that's okay with you, then go ahead and wait it out. Hopefully you won't want to kick yourself a year from now."

The truth is, none of the experts can accurately predict the real estate market any better than the experts can accurately predict the stock market or what as prices will be a year from now. If you purchasd real estate in 2006 or 2007, you most likely got a great home at a terrific price with a low interest rate. Provided you stay in your home for several years, you will benefit when property values eventually rise again.

If you are selling now, you may be selling a little lower to buy lower. Same as a year or two ago, if you were selling, you were selling higher, but more than likely buying higher as well.

The best thing to do now is to determine what you can afford, decide what's important in a house and neighborhood, and start looking for a new home.

After all, it is a good time to buy!

Still a good residential market, despite the rest of the province

The Vulcan residential real estate market is still fairly strong for sales, despite the large amount of inventory in other real estate markets. Calgary and Edmonton have many more listings now, compared to the same time last year. Actually, this is happening throughout the province. Vulcan, however, is still a centrally located community with all of the necessary facilities (hospital, schools, recreational facilities including 18 holes golf course) with affordably priced housing. You can still afford to "live long and prosper"!

Municipal Commercial Garbage Collection Program

As of May 1, 2008 the Town will no longer be providing garbage bin collection for businesses.

Currently the Town is charged $50.00 for each bin pick up and is billing back the busineeses only a portion of this cost. In fact approximately $45,000 per year for this service is subsidized through the general tax.

After considering different options, Council recommended that the individual business owners negotiate themselves with the providers of the bin collection services.

The above information was taken from the Town Of Vulcan Newsletter dated April 15, 2008 Volume 24.