Scott Key

Coldwell Banker Ontrack Realty

Cell 403-350-6817

Office 403-343-3344


Well another month has past so I thought I would give you some numbers to compare to June of last year.
Sales slowed this June compared to last year in Red Deer and surrounding area. In Red Deer there were 133  MLS sales reported to the Central Alberta Real Estate Board compared to 213 for the same month  last year, about a 38% decrease. Penhold recored 2 MLS sales compared with 4 last year, and Blackfalds reported 5 MLS sales, down from 11 in June of 2009. Springbrook showed a slight improvement with 5 MLS sales in June compared with 3 in June of 2010.
What does this mean ? Well we are still going through a market correction this year with tighter lending then in years past and slightly higher interest rates.This added to the fact that many first time buyers jumped into the market last year when rates were rock bottom. So without as many first time buyers in the market this year and high inventory levels we are seeing many properties sitting on the market longer and some continued pressure on prices.
So for buyers this is presenting some great opportunities with lots of selection,great prices, and some pretty low interest rates.
For those of you looking to upgrade this is a prime time for the same reasons. You just need to be realistic about your list price and you will sell. You may take a little less than in years past but you will also pay less on your next home, and when you are upgrading this will work in your favor.
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It has been a bit of challenging year so far for real estate in Central Alberta. 2010 has been very much a repeat of 2009. Properties are indeed selling, but listing volume remains high and as a result prices have yet to see any real gains over 2009. Bottom line is that our market is solid, but still recovering from from adjustments we experienced in late 2008 and into 2009. That being said properly priced properties will still sell. If you are buying this is great news as there is lots to choose from and at very good interest rates. If you are selling you just need to be realistic on your pricing and not be tempted to go for a price that is not there. Price it right, stand out, and you can still get a good price.
Year to date sales volumes in Red Deer are very close to 2009. Springbrook is certainly a reflection of this. YTD in Springbrook 11 properties have sold compared to 13 in 2009. I have personally seen a recent increase in activity. Since May  I have sold 2 homes in Springbrook and as of this post I have 2 more properties under contract. This will put Springbrook sales volumes almost on par with last year. I believe we will experience much the same for the remainder of the year, with a bit of a slow down as we approach November/December.
If you have any questions on what this market means to you , please feel free to drop my a line.
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I am very happy to introduce my new website.
I wanted to have a site created that was simple and easy to navigate, and most importantly, a site that allowed my visitors easy access to information.
This site does all of that and more.
You can search my featured listings, my office listings, a simple MLS area search, or an advanced search that can be searched  with MLS numbers, addresses, or a Google map search.
These map searches can also indentify proximities to schools, shopping, medical, etc.
All of the listings will include all available photos, map locator, and mortage calculator.
Best of all, the properties you can search will be all of the most up to date MLS listings available.
You don't need to go anywhere else.
Of course if you see something you like, simply contact me and I can arrange a viewing.
As well as property searches I have included some generic reports on a variety of topics related to buying and selling real estate.
So look around, try it out. It is easy and fun.
And don't forget to bookmark it and add it to your favorites.
Enjoy !
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