Year in review

2012 caught me off guard a bit. What I mean is that the market seemed slow, but we made quite a few sales at the lake. I will not have the final numbers until January, but I am curious to see exactly how things went. When people would ask me how the market is at the lake, I would usually answer that things were slow, could be worse, but could be better. Then I would think back and see that hey, we sold one or two places per week in August, and the spring was not too bad either. We actually sold a few of the developer's lots, something that we had done in a couple of years. In 2013, I know that there are plans for some new cottages to be built at the lake. I also know that some people who own cottages at another resort are now looking for a new place to relocate, as their leases will not be renewed. This could have a huge effect on our sales activity! I know that there are properties at Lake McGregor Country Estates that have been on the market for over two years, and we have not had a bite with them. I think that 2013 could change that. In fact, I see 2013 as a very busy year at the lake! With our market about 12 to 18 months behind the Calgary market, and the Calgary market making some gains last year, this should result in an increase in activity out here. And that is not taking into account the people who are getting the boot and having to move their cottages from that other resort. Do I think that we will sell out of phase one this coming year? No. But I do hope to see more sales happening, and that we can finally get those lots moved that owners have been so patiently waiting for us to sell over the past couple of years. It is not fun when you see the long faces that people have when someone chooses anther lot over theirs. Hopes get built up sometimes, and are then dashed when a potential buyer decides to go elsewhere. In 2013, my goal is to put more buyers and sellers together so that they can reach their goals and enjoy the years to come! Happy 2013!

Events lined up for New Year’s Eve | Local | News | Vulcan Advocate

Events lined up for New Year’s Eve | Local | News | Vulcan Advocate

Tips for selling in the winter

We all know that winter in Southern Alberta has its challenges. We never really know what the weather has in store for us. It can change from one hour to the next. When you have a property for sale in the winter, here are a couple of tips to help improve your chances for getting an offer: - make sure your sidewalks are shoveled. This includes access to the garage, if you have a detached garage. No one wants to be trudging through three foot high drifts to get to the front door, or to check out the garage. Plus, you do not want to have anyone falling down your steps and getting hurt. Keep the sidewalks clear of snow and of ice. A little investment in a snow shovel, (or hiring someone to clean the walks for you), and some de-icer are a good investment. This is even more important if you are selling a lot with an RV unit already on it. This winter we have not had all that much snow yet, but we still come across RVs that have snow drifts up the side of the unit, making it very difficult to try to get in if we have to dig our way to the door. This does not make a good first impression on potential buyers. - have your furnace checked. Replace your furnace filter and make sure that your furnace room is free from junk. Potential buyers will want to have a look at the furnace and like to see one that has been taken care of, especially when they are more aware of it during the cold winter months. Too much debris around the furnace does not look good and also hinders air flow. Things like this cost little, but could be worth a lot. - if your property is vacant, make sure someone is checking on it daily. At least have someone drive by to check that there is smoke coming from the chimney. If not, get in there right away to make sure that the furnace is running. A frozen house and frozen pipes are no good! On that note, I suggest putting a sign on the switch for the furnace. I found out the hard way that people like to turn switches on and off when looking at a house for sale, and sometimes they do not leave things they way that they left them. I had my house for sale and it was vacant. Someone looked at the house and flicked switches, and turned off my furnace. It was not labeled and they must not have realized that this is what helped keep my house warm. Well, to make a long story short, I had frozen pipes that burst and there was damage in my basement. It was a mistake someone made and now we will just classify that as a lesson learned. If you have an RV unit, you should have already had your unit winterized, so you should not have too much to worry about. However, things can happen and it's good to have at least a walk around inspection done on a regular basis. Sometimes windows can break, doors can blow open, or other "stuff". Best to be safe than sorry. - one more thing, if you house is vacant, pour a little bit of liquid fabric softner down the floor drain in the basement (usually in the laundry area). This helps keep the drain from drying out and getting some unpleasant odors in the house. Basically, make sure that the property is being taken of, that there is still pride of ownership, even though you have decided to let this property go. Ask yourself, what would I like, or dislike, if I were looking for a property. Then act accordingly. Strangely enough, we have made sales at the lake on some of the coldest days of the whole year. Thus, it's always good to be prepared.

Aerial View of Phase One at the resort

Budget facelifts that add value to your home | The Chronicle Herald

Budget facelifts that add value to your home | The Chronicle Herald

Plans for Christmas?

As an owner at Lake McGregor Country Estates, did you know that you could book part of the clubhouse for a Christmas party? Have friends and/or family out, got for a swim, play some pool, and maybe do some dancing, enjoying the facilities. Call management to check for available dates and times.

It's beginning to look alot like.....

Old man winter rolled into Lake McGregor Country Estates this past week and welcomed us all to the season! We all knew the storm was coming and, yes, the weather guy got it right - we got a dump of snow! Talking with a local RCMP member, the snow plows were out at 2am, clearing the highways, laying down whatever they lay down to make it not so icy. The morning of the snowfall was a little quiet. The residents that were still at the resort slowly started the whole shoveling show thing. Management had their snow removal equipment in high gear. I was out a day or so after the storm and saw a few good sized drifts up against the sides of some RVs. Yes, winter has arrived! Then again, the forecast is for plus 6 degrees and higher starting Monday or so. Thank you chinook winds! As far as sales go at the resort, we are in to the slower time of the year. We have had one or two people asking about the resort this past week. I also am working on listing a foreclosure property, a cottage, and hope to have that on the market by this time next week. Not exactly the best time to be marketing a property at the lake, but a couple of years ago, I sold two properties on what I am guessing was the coldest day of the year! Thus, we keep moving forward.

Winterizing

The sun has had a busy summer and does not get up as early as it did what seems like only weeks ago. The leaves are falling... The weather guy has started talking PLUS degrees and MINUS degrees. I guess this means that winter is coming. We have had a really nice summer. We were not drenched in rain. We did not really have many windy days, but when we did get the wind, we REALLY got the wind! Anyhow, it's time to get units winterized. For those owners who live at the lake full time, it's just classified as a fall clean-up. But for those other RV and cottage owners, it's time to get ready for the freeze! A good start is to make arrangements with management to get the water shut off at the curb. RV antifreeze is a must. And make sure you have your "stuff" cleaned up and stored away in your unit or shed, such as lawn chairs, awnings, toys, and more. We all know that the wind CAN come up and make a mess so best to plan ahead. One more thing that I suggest is to let your neighbors and management know your plans for the winter season, and leave them your contact information in case they need to get in touch with you. And remember, the resort is open year round so if you get a chance to come out this winter, you can still go for a swim in the clubhouse pool, and enjoy the other facilities inside. Enjoy!

Go figure!

So much for my theory about the weather and the recreational real estate market. We had a mild winter so I figured that we would be having a busy spring at Lake McGregor Country Estates. Nope. We did sell a few places, but not as many as we would have liked. Then August rolled around. Last month of the summer season. Who is going to buy anything now? Well, with one or two properties selling per week, I would say that there are quite a few people who were looking at buying themselves some recreational property. We had a prime lake view cottage lot that we almost had multiple offers on. We also sold a couple of the larger lots we had for sale, and two interior lots. Those lots were picked as they were close to the playground and clubhouse. We even had an RV with lot sell. Most of the sales were bargains. That is why they sold now compared to one year ago. Sellers were holding out for more one year ago, but now some just wanted to cut their loses and get the sale done. It worked for them, and it worked out good for the new owners. There are still more places to sell though. Still more sellers anxious to see me with an offer to purchase in my hands to show them. With a warmer than average fall predicted, do I see the market staying strong? If my spring prediction is any indication of my theories, I think I should just keep my mouth shut! Zip!

Whether we are reading a newspaper, listening to the radio, or watching the news on television, we are thrown all sorts of information to filter through, some good, some bad, some we just have to decide on our own where to classify it. We see stuff on blogs, Facebook, Twitter, Youtube, blogs and more and it is up to each and everyone of us to decide what we are going to believe as true, and what we think is a "bunch of balogne". This past week the news has been reporting that the Canadian housing market is going to take a down turn. "There is going to be a 10% drop in housing prices over the next few years." "There is going to be a market correction, as prices have doubled in the last 10 years or so." I wonder if everyone caught the fine print in the story that this is the forecast for Toronto and Vancouver. In particular, this is going to reflect their condo market. The question then is, what about the rest of the country? Canada is the second largest country in the world. We have several different time zones, different weather climates, oceans on three sides, with prairies, mountains, rocks, trees, and more in between. It seems to me that it would be a bit of a challenge to paint the real estate market of Canada with just one brush. Here is my two cents. You can take it or leave it. I have no money back guarantee with my predictions. These are just my thoughts on my local real estate market: During the last housing boom, the smaller towns and villages lagged behind the bigger centers such as Calgary and Edmonton. We did get a boom too (on a much smaller scale of course), but it was a year or so after the cities took off. When the cities started to cool down, we cooled down too, but after the cities had already started their cool down. I will compare this to the big brother little brother scenario. Little brother wants to grow up to be like big brother, but he is still little brother and it will take time to catch up to his older sibling. The older sibling already has life experience, and other resources to move him along. The little brother will need some time to build up his resources, get his name out there, for him to catch up. The cities already have a large population base to work with, unlike the smaller towns and villages, with established businesses and room to grow. Meanwhile, small towns and villages have to fight to get businesses to come to town. I could go on and on with that predicament, but I will stop there for now. I hope you got my point. The little guys and just a couple of steps behind the big guys. That's life. That is the challenge that smaller communities face compared to the larger ones. As Lake McGregor Country Estates is recreational property market, let's check it out for a minute. There are lots of properties for sale and have been for a while. Same goes for Little Bow Resort, and other recreational properties in Alberta. Recreational properties are not high on people's priority list in a slower economy. This market usually lags behind the residential market, just like the small town are behind the cities. As those markets pick up, the recreational property market will be picking up shortly afterwards. It is a challenge. It has always been a challenge, and it will be a challenge in the future. Small town living has it's ups and downs. So does living in the city. So does recreational property. And now back to the point of this little rant of mine. When you hear a story on the news, or read it somewhere, do your homework before you decide to turn on the panic button. Get the facts. Make up your own mind...and take it from there.

Town infrastructure projects update - Vulcan Advocate - Alberta, CA

Town infrastructure projects update - Vulcan Advocate - Alberta, CA

"Average" house prices don't tell the whole story - cbcnews.ca

I came across this article at Yahoo.ca and it's a clip from cbcnews.ca. Thought it was a good one to share: When someone asks how house prices are doing in a particular neighbourhood, the question seems easily answered. The big real estate boards all issue monthly price reports that spell out what the average selling price was in the previous month and how that compares to the month, and the year, before. But there's a problem with trying to divine market direction from average price data. It's just too blunt a tool. If real estate — as the saying goes — is really about "location, location, location," then average prices frequently don’t capture the reality of what's going on in a particular city or neighbourhood. Calculating the average house price is as simple as adding up the prices realized for all home sales in a particular month and dividing by the number of sales. The problem with that metric begins to emerge, however, when one or more parts of the housing market don't act in tandem with all the other segments, as they seldom do. For instance, what happens if the percentage of really expensive homes sold drops more than it does for other types of homes? That could lead to a big drop in the average selling price, even though the price of more moderate homes may be little changed. That exact scenario played out with the release of the June sales figures from the Canadian Real Estate Association. Among the ocean of figures CREA released was the fact that the average resale price across the country that month was down 0.8 per cent from the same month a year earlier. It left the impression that prices in the Canadian housing market had dropped compared to the previous year. It turns out that the national average price dropped only because Vancouver's pricey real estate market had 28 per cent fewer sales this June than it did in June 2011. Exclude Vancouver from the national figures and CREA says the average national selling price last month actually rose 3.2 per cent. In fact, CREA reports the average home price in June was higher year-over-year in 70 per cent of the local markets it looked at. Average price data within cities are also vulnerable to a shift in the sales mix. What if a huge batch of low-priced condos are snapped up one month? That would send the average price lower, even though the resale market for other types of housing may not have budged at all. So it comes as no surprise that economists who analyze the real estate market hate averages. "Averages are a horrible place to go," says Tsur Somerville, who heads up the Centre for Urban Economics and Real Estate at the University of British Columbia. Gregory Klump, the chief economist at CREA, agrees. Using average prices is "like looking in a funhouse mirror," he warns. Finding the median price, which involves ranking all sales from top to bottom and finding the sale price that's in the middle, is a bit better, Somerville says, but it's still flawed methodology. Like average prices, the median fails to take into account changes in buying patterns. Economists say there are more sophisticated methods that give a better sense of market trends than either averages or medians. More than 15 years ago, the MLS developed its own home price index to get a clearer picture of price trends. It uses a complex statistical model to measure the rate at which housing prices change over time by tracking price changes in "typical" homes in each market. Each neighbourhood has a typical benchmark home. CREA, in addition to providing average home price data, also releases MLS home price index data for five major markets: Greater Vancouver, the Fraser Valley, Calgary, the Greater Toronto Area and Montreal. Sixteen additional markets are slated to be added in the future. "If you really want an accurate measure of what's going on with home prices, you've got to keep the quality of the homes constant," says CREA's Klump. "That's what the [MLS home price index] does. It compares apples with apples over time. It's not subject to a change in the sales mix the way average and median prices are." What difference do the different approaches make? In Vancouver, for instance, the average selling price in June was $701,141, down 13.3 per cent from last year. But using the MLS home price index methodology, Greater Vancouver prices actually rose year-over-year by 1.7 per cent. This method of tracking home prices looks at how the price of the same house changes over time, so that only properties with at least two sales are entered into the mix. The assumption underlying this process is that each selected property's overall quality remains constant. Given the high rate of renovations, that can be problematic, but the statistical models attempt to account for that. The Teranet-National Bank home price index is the best-known example of the repeat sales method in Canada. "The statistics work out the problem that not every house sells every year," says Somerville, who uses data from both the MLS and the Teranet-National Bank home price indices to track market trends. In the U.S., the widely tracked Case-Shiller home price index uses the repeat sales method, too. Somerville cites a couple of other indicators to track housing price trends. The Royal Lepage house price survey is a quarterly look at seven types of housing in dozens of neighbourhoods across Canada. The values are estimates of fair market value in each of the surveyed locations, based on local home price data and knowledge of local housing market conditions provided by Royal Lepage real estate agents and brokers. "In theory, it should be problematic, because it's a survey," says Somerville. "It's not based on actual data. But it moves very well with the higher quality statistical data." Some market watchers also look at the sales-to-new-listings ratio. Currently, it's at 51.7 per cent nationally and has been trending down. Anything over 60 per cent is considered a sellers' market, with anything below 40 per cent being a buyers' market. Somerville also looks at sales activity. "Changes in sales tend to lead market conditions," he says. "So when sales are declining, that's the best sign of a weakening market, although price declines don't have to follow. You can get prices flat-lining; they don't have to decline." Currently, the number of sales in most markets in Canada is slowing. Overall, CREA reports 4.4 per cent fewer sales in June than a year earlier. At the same time, year-over-year prices aren't retreating in most markets, at least yet. But the recent tightening in mortgage regulations could change that and it could show up as early as August, when sales and price figures for July are released. "We do anticipate that some first-time buyers will be priced out of the market," Klump says. These days, the operative words among Canadian housing market watchers seem to be "slowing" and "cooling." "The cycle of eroding affordability followed by softening home prices has begun in some regions and will be felt in many parts of the country by year-end," Royal Lepage CEO Phil Soper forecasts. "Home prices cannot grow faster than salaries and the underlying economy indefinitely." Somerville says that of all the housing markets in Canada, Toronto is the one that bears watching. "If I was concerned about a market, I'd be more concerned about Toronto, because the level of building activity has been very, very high there," he says, referring to the the boom in condo-building. "You see supply levels being very high by historic standards in terms of construction," he says. "I'm not saying things have to go sour; I'd just be more concerned [about Toronto] than elsewhere."

Spring meeting this weekend

The spring meeting for the Lake McGregor Community Association is this weekend at the clubhouse. Please make sure that you check the contact list and make sure that, as an owner, your name is on the list. This way you can be contacted when the Association has important news to go out to the owners. There are a few positions opening on the board for the Association so if you would like to help make the Association stronger, consider letting your name stand for election.

Fire ban lifted

Just in time for the long weekend, the fire ban has been lifted. Let's still use caution out there, while we enjoy those fresh s'mores and hotdogs around the campfire.

Going into May Long Weekend

It has been a slower start this year market wise, but coming into this weekend, we have closed two sales recently. This is nice to see. As we still have a large inventory of properties for sale at the resort, it's great to have a couple of SOLD signs out this weekend. It seems like we sell one, list two. Yes there are lots of places for sale, and it is a common scene in recreational property areas, not just at Lake McGregor Country Estates. Smart shoppers take their time, check out the market, and then make a move, knowing that they go a good deal. They know that it's a "Buyer's market". There is no pressure to BUY NOW. They can study the market and then make their choice. There are deals to be made and these Buyers won't be the ones kicking themselves later thinking "I wish we would have bought back in 2012 before the prices went up!"

First Week of May

Okay, other than the fact that it is snowing right now, it is looking like spring is here to stay for a while! Last weekend the clubhouse was busy as there was a "Celebration of Life" for a local neighbor of the resort, as well as a end of season celebration for the Warner girls hockey team. As a result, the parking lot was full. There was even a boat or two out on the lake! Things were starting to green up nicely, and now after our rain...and snow, things will really get growing once the heat comes. The forecast is for the sun to make an appearance starting Sunday afternoon! Interest in the resort has picked up too with the nice weather. We have fielded several calls and emails over the past couple of days and we are expecting several people out to check out the resort this weekend. There is a good mixture of people looking for RV lots and cottage lots this week. I see that we have one or two new park models ready to be brought it for the RV lots. This should go good with the new cottages that will be constructed this year. I hear that there may be 4 or 5 new ones at least this year. Nice to see progress!

Spring 2012 Pictures

In the first photo you might be able to zoom in and see about 15 deer that are in the background grazing on the fresh green grass. The second photo is a view down Cormorant Crescent.

Time to get the boat out!

A sure sign of Spring! The marina is out and ready to go for the season! Yes, we are ahead of the game this year. The docks are out waiting for the boats, fishing, and just chilling out at the lake!

Realtors want action on grow ops and condos

Realtors want action on grow ops and condos

Choosing a real estate agent to work for you

So you are looking to sell your home, your property, your real estate investment. You have chosen to use a real estate agent (a good choice if I do say so myself!). How do you chose an agent? Shop around! My first suggestion is to see who works in the area. Look online. Talk to the local people. As much as some of us real estate people like to think that we can be experts in all areas of real estate in all areas of the country, we cannot. A local real estate agent knows what is going on locally. They know what prices properties are selling for. They know how long properties are taking to sell. They know the local economic climate - what new developments are coming; what is happening with the local job market; what the tax climate is like. My point is, just because someone is a top notch real estate agent in one area, does not mean that they are an expert in another. For example, I do not know much about the local real estate market in Lethbridge or Calgary. If someone has a property that they want to sell there, (or buy) and they ask me to help them, the best thing that I feel that I can do is to refer them to a real estate agent who knows that area. I am also aware of areas where an agent has listed a property that is out of their region, put up a sign, and the agent is never seen again. How is that beneficial? Not very.

Check for For Sale signs. What is the condition of the sign itself? Does it look like someone takes care in their work, or is the sign falling down?

Check on the internet. Google an area and real estate agent. One warning - there are some bogus real estate sites, the same as in other industries. Make sure you check around and make a few phone calls to make sure that the agent is who he/she says they are. Ask how much activity they have had in the area that you are looking at.

Interview a few agents. If you "click" with one another, great! If not, move on. Remember that the agent works for you. Make sure that you have an employee that you are comfortable with.

Action is picking up!

After my open house in Vulcan today, I am meeting up with people at the lake. The phone calls and emails have been coming in this week with people wanting more information on Lake McGregor Country Estates. It's nice to see action picking up a couple weeks earlier than normal. There are some great deals to be had, as the are some owners very anxious to sell. List prices on several of the properties that we have listed, and on some for sale by owner properties, have dropped substatially. With the increase in interest and the drop in prices, I can see our inventory of listings going down by spring.

New Happenings

The boiler is fixed and the pools are ready to go! Woohoo! Good timing as the weather is warming up and we will probably see more people coming to the resort now.

Also, it was announced that the resort is looking at putting up storage sheds. Is is great news for boat owners who can already store their boats in e compound, but once these sheds are built, the boats can be stored inside. I am sure that these sheds will be spoken for pretty quick. For more details contact the resort manager.

Getting ready for a new season

The mild winter has helped with interest at Lake McGregor Country Estates. We have had a few offers already this year which is nice to see. The fact that you can get a serviced cottage lot for under $50,000 is attractive to those looking to buy recreational property.

Spring clean up has already started with some owners, as we get anxious for spring to make an appearance. As for the clubhouse, there have been new boiler parts ordered. This, of course, keeps the pools nice a warm. The pools are shut down now, but will open as soon as these repairs are completed.