Alberta Flood 2013

Just a note to let everyone know that Lake McGregor Country Estates did not get flooded, unlike many other communities in Southern Alberta. The resort, along with Little Bow Resort, has not been touched by any high flowing waters. We are lucky in that other communities such as High River, Calgary, and Hidden Valley Resort have had damage estimates in the millions of dollars, and things are not done yet. Our thoughts and prayers go out to those who have lost loved ones, and to those who have lost their homes. This is something that we see on TV and are almost numb to it, but when it hits so close to home, it is shocking.

Just because it's raining and cool in Calgary, does not mean it's not warm and sunny here!

So often we read, see, or hear on the news how the real estate market is doing. On the street, talk to one person and they think that the market is booming, and then talk to another and they will say that the market is slow. We have heard how the Canadian Real Estate market is slowing down, but then we hear how things are booming in Alberta and Saskatchewan. So...what are we supposed to think??? Check with the local real estate agents, your local town office, or local trades people. Just because it is raining cats and dogs and the temperature is cool in Calgary, that does not necessarily mean that the weather is not sunny and warm here in Vulcan. The same goes for the real estate market. Yes, I spoke with a real estate friend this past week and she is getting sick of all of the multiple offer situations that she is dealing with. She gets text messages in the middle of a showing, letting her know that there has just been an accepted offer on the property. Calgary has a different economy, a much larger population, and a much more diverse working population. In Vulcan, we are currently seeing an increase in activity in the local residential real estate market, however, due to our large inventory of properties on the market and a low amount of jobs available, our market is still rather soft. I feel that the overall recreational property market is still soft. When we do get a couple of sales, everyone seems to get excited because "Things are moving again", "The market is starting to take off". My advice to sellers is to be patient. It is still a soft market. When we do actually get an offer in writing, that is at least a start. An offer in writing is a place to start negotiations. Potential buyers talking about putting an offer in, or just wanting to submit a verbal offer, are more often than not, wasting a seller's time. "I have friends who want to buy your place but just aren't ready yet" does not pay off one's mortgage. "We are waiting to see what the market does before we write an offer," does not make the monthly payments. As the saying goes' "In God we trust, all other must pay cash", this holds true for real estate as well. An offer is only as good as the paper it is written on. If it's not on paper, it's not really an offer. People's minds can change, remembering things differently, and so on. And one last piece of advice for the day, enjoy your time with friends at the coffee shop, but take their advice with a grain of salt. Like I said before, just because someone heard that the market is doing great in one place, does not mean that it's necessarily doing great in another. Different regions have different influences on their own market. Do your homework before coming to your own conclusions.