REAL ESTATE TALK with Julie Brandle: Real Estate – Then and now!

So Real Estate has definitely changed a lot over the years! In 2006 when I first started in Real Estate, homes were selling so fast that buyer’s weren’t even getting Home Inspections or they would risk losing the home, because there were 10 more buyers lining up with less conditions and or a higher price! Then came the recession in 2008 and we had reminder of the “Alberta Boom or Bust” cycles! Things were just looking a little better and our devastating fire happened in 2011! That literally changed Real Estate in Slave Lake forever. The rebuild started, developers flocked to town and rented every residence and Industrial shop in sight and all of a sudden, the rebuild was our third industry in town! Speed ahead to 2017 – and we are definitely in better shape economically than we were in 2016, but it’s a very different market than any of us have been used to in the last decade! It has been a long time (2008 perhaps?) since we have had this many listings on the market. For many years, $400,000 was a starter home! At least with the increased inventory, we finally have homes under the $300,000 mark, which is a refreshing change. So, it’s a GREAT TIME TO BE A BUYER, but if you are selling today, with so many competitors, how do you make yours stand out and sell in a reasonable time? For starters, be realistic before you list and understand that it’s all relevant. Just because prices of the homes you want to buy are falling, it stands to reason that the list price on your own may also have to be adjusted to keep you competitive. A Successful home sale begins before the house is listed – it’s actually when you decide not to expect to make a killing! Reality states that you need to have the best possible product at the price it should be – Not what you wish you could get. Not what your neighbour sold for 2 years ago – but todays fair market value. Setting an aggressive or realistic asking price attracts more prospective buyers to your door, saves negotiating time and generally discourages low ball offers. For advice on what is happening in Today’s Market, call Royal LePage Progressive Realty 780-805- 3111, visit our website at www.Royallepageslavelake.com or visit our Real Estate Kiosk in the MRC!

 

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