Red Deer, AB Real Estate News

By Patrick Galesloot
(Century 21 Advantage)
This house has a sump pump, is that a good thing or bad? What is a sump pump and what is it doing in my house? Common questions that I have heard from buyers. Depending on the age and location of your home you may have a sump pump. A sump pump is, a pump that moves water from a basement sump pit. Ok a sump pit is...? A sump pit, commonly found in the home basement, is simply a hole to collect water. The water may enter via the perimeter drains of a basement waterproofing system, funneling into the pit, or may arrive because of rain or because of natural ground water, if the basement is below the water table level. Below the water table??? What the?? Ok don't panic. The water table in central Alberta is High. Higher than in other areas, and if you have lived in a house in Central Alberta...
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By Patrick Galesloot
(Century 21 Advantage)
Frustrated selling in a buyers market?  Understandable emotion.  Perhaps a more closer look at the weekly stats, and market place numbers and comparing them from 2006 to now will help. In Red Deer, May was/is , and not your typical movie fare, but when it comes to new listings 2008, is a block buster of a year. It wasn't that long ago we were in a heated seller's market, we only have to look as far back as 2006. Then we started transitioning out of that frenzy in 2007 to today's buyer's market. Each market has it's good points and bad depending on the side of the transactional fence you are sitting. For those sitting on the selling transactional fence it can be tough pill to swallow. many are scratching there heads wondering what should I do, or what can I do to sell my house. Sales are...
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By Patrick Galesloot
(Century 21 Advantage)
Good. Sales were down from record 2007 sales volume, but well above 2006 numbers.Here at Century 21 Advantage, we led the way with listings sold in Red Deer. Out of the 220 properties sold in April Century 21 Advantage sold 56 which is a little over 25%. How does this compare to what the market is like or what is every one else doing? Well today we see a total of 785 properties available in the City of Red Deer with 70 of those with conditional offers. That is great selection for buyers, and increased competition for the sellers who are striving to be part of the 220 sold. The number of sales is down from the 242 in April 2007 (-9.09%). We expect the story of increased selection for buyers to dominate the real estate landscape here in Central Alberta for some time. We are still in a buy...
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By Patrick Galesloot
(Century 21 Advantage)
Tax Increase on the horizon for City of Red Deer The City of Red Deer is in the midst of a growth spurt. Through the 90's they like many communities the city held the line on taxes.  Now with increases in population and further pressure on infrastructure and City services, Red Deer is facing a tax increase of up-to 7%.  Quite a hike compared to other increases we face, but a needed one for long term prosperity.  I don't think anyone likes to see increases in taxes, and especially not a 7% increases. I'm surprised cities are not embracing municipal legislation that limits the annual increases to a function of cost of living or other rates.  It's popular to decrease or not increase the taxes, but at what price.  A ceiling on increases such as the cost of living plus 1 maybe an option or s...
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By Patrick Galesloot
(Century 21 Advantage)
Red Deer is divided by the Red Deer River which creates are lush attractive parkland community.  Not to sit by and let this precious resource by squandered.  The City of Red Deer recently approved measures to conserve water.Council moved the following bylaws this week."That Bylaw 3215/B-2008 be read a first time. (Proposed amendment to the Utility Bylaw. Requirement for Low Flow Plumbing Fixtures for new construction or renovation projects that require a plumbing permit for a residential, commercial, industrial, or institutional structure)."The Council also set up a rebate program for residences to switch form older higher water user toilets to more efficient models. "Resolved that the Council of the City of Red Deer after considering the report from the Environmental Initiatives Coordi...
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By Susan Rochefort
(Lime Green Realty Inc.)
Happy New Year!!  This is an exceprt from my e-newsletter which is published every month.  If you would like to sign-up, please contact me at susanrochefort@royallepage.ca. Red Deer's Real Estate market has done it again and made some record breaking milestones for 2007 despite the shift in the market!  The rapid increase in prices began to soften in the middle of the year after we had a large amount of new listings come on the market for sale in March ‘07.  Although the demand for housing continued to stay strong through out the year, the amount of new listings continued to increase at a quicker pace than the demand, thus shifting Red Deer's market from a sellers market to a much more balanced market.  With this change, prices softened and buyers had more to choose from, giving buyers ...
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By Susan Rochefort
(Lime Green Realty Inc.)
This Article Relates to the market in Red Deer, Alberta, Canada. "I am going to wait to see if the prices continue to drop."  Yes this is a common statement we as Realtor's are hearing from buyers these days.  And it got me thinking it could be the start of another cycle.  What cycle is that you ask?  The cycle of too few listings and too many buyers and maybe, just maybe, it will be the buyers to blame if the prices go up again.  How could that be?  Let's think about this.  If buyers are waiting for the prices to go down and sellers are not willing to drop their prices, what happens?  Sellers decide not to sell their property and take their house off the market.  They either decide not to move or they decide to rent the property instead of selling it.  If this pattern continues, there ...
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By Patrick Galesloot
(Century 21 Advantage)
If you are new to Red Deer, or just planning a get away to our fine area here are a few places, and things that you may want to add to your list.Westerner Days Fair & Exposition, July 18 - 22.  Much more than an old time country fair but still has that look and feel.  Midway rides, chuckwagons, agri shows, and affordable family fun.  http://westerner.ab.ca/Kinsmen Discovery Kanyon, An amazing facility for family fun.  Best described as water slide and splash pool.   One of the best feature is that it is free!!  Pack a lunch and your inner tube and have a splash.   http://reddeerkinsmen.com/parks_details.php?id=16 Sylvan Lake 1/2 Ironman Triathlon, July 20th - July 21st.  http://www.sylvanlaketri.com/Markerville Creamery Day Camps, July 4, 11, 18, 25.  Markerville is a short 15 minute dr...
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When it comes to pricing your home, you'll find lots of "experts." The neighbors may want you to set a high price, thinking it will make their homes more valuable. Your company may encourage you to set a lower price so the home will sell quickly and you can move to your new assignment. You might be thinking in terms of what you paid for your home, how much you've spent on it, or how much profit you want from it. But who sets the price? When you put your house on the market, you set the asking price. But it is the market that determines the selling price. If the asking price is set correctly, the house is likely to sell fairly quickly. If set too high, the house may languish on the market, unseen by the right buyers. Pricing It Right A correct asking price is crucial to a timely sale. Th...
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