Lots of Snow

We have had lots of snow this winter, which means lots of green this spring! The moisture was a must, and we got it. As far as real estate activity goes, the interest has been minimal. With the weather due to warm up during the next month, we can expect some of the snow birds back, and people getting anxious to leave their igloos and look check out recreational property again. Here's looking forward to a busy spring!

Review of the 2017 Real Estate Market at the Lake

The following information was obtained from the Calgary Real Estate Board statistics, as well as through the Alberta Land Titles Registry. This is for information purposes only. In 2017, according to the Calgary Real Estate Board, there were five sales at Lake McGregor Country Estates - one cottage, two park model units on their own lot, and two cottage lot sales. The Alberta Land Titles Registry shows an addition RV lot with unit sold, as well as two more cottage lots. The highest priced cottage lot sold around the $45,000 mark, with the lowest priced lot selling around the $22,000 mark. It also looks like there was another cottage sold. Both cottages that sold this year were in the $265,000 to $270,000 mark. The positive thing to note from the sales this year is that one cottage sold that had been on the market for over five years, and one cottage lot sold that had been on the market for over five years too.

Fall 2017

As many owners at the resort have winterized their dwellings, things are slowing down at the resort. Mind you, with the last blast of chinook weather, there may be a few people coming out this weekend to enjoy some fresh air. The snow is almost all gone, and the lake has opened up again, as the ice melts. (Probably not good news for the ice fishermen) Sales activity at the lake continues to be weak, but that is expected for this time of the year.

Still Deals to be Made

Over the past month or so, there have been a couple of cottage lot sales. These are properties that have been on the market for years, one as long as seven years. It is nice to see them finally sell. The sale prices were much lower than what was asked for when they were first listed. Back then, the market had reached a high and was just starting to fall off. Hence, the sellers are disappointed as to the price point where they had to sell, but they are also relieved in that their lots finally sold. So now those sellers can move on, and we have new owners who are anxious to begin a new chapter of their lives at the lake!

Feedback on Listings

It seems like not that long ago, when an agent showed someone your property, there was an unwritten rule that you would receive feedback on the listing. Sometimes it was helpful. For example, they might say that the potential buyers were concerned with spots on the bathroom wall and think that there may be mould issues. The seller could then address the issue however they chose to do it. (treat the spots, as they may not have noticed them before, or let the buyers know that you had already seen them, had the spots tested, and found out that the kids had just been colouring on the walls!) There was more communication. Today, however, as a seller's agent, we are lucky if we get feedback on 50% of our listings. Buyer's agents do not have to give any feedback whatsoever. This may sound a bid rude, but our real estate "higher ups" decided that if a buyer's agent gives feedback, it may put them at a disadvantage during the negotiation process. For example, if the buyers say that they like the house, after being asked for feedback. They say that it showed well and that they are interested. When it comes time to negotiate on an offer, the buyers submit a low offer, stating that the house "needs a bunch of work". But they said it showed well and they seemed to like it, after they had viewed it! Wait a minute. Were they just telling us stories after they view it, or are they just now trying to say that the house magically turned from being nice to becoming a "fixer upper"? Hence, the distrust can start before the negotiations really get going. Do I give feedback on properties that I have shown? Yes, with my client's permission, and sometimes it can be very vague feedback, but at least it's something. I find that sellers want to hear something. "They do not like the colour scheme". "The garage is too small." "The house shows very nice. Very modern looking." "My clients are just starting to look and want to see more properties before they make a final decision." It can be a bit of a grey area at times. A little frustrating too. Then again, sometimes buyers give feedback that the sellers may not like. "The place is a tear down. It needs too much work." I have had that when the agents just finished renovating! They were not too happy to hear that. No one wants to hear someone tell them that their place is a dump, or that someone thinks that their workmanship is subpar. At times, we need to be careful what we ask for because we may not like the answer. And if someone who said that your handyman work is crap puts a low-ball offer on your home, that can make for hurt feelings and the negotiation process may not go so well. My point is, if you want feedback on your listings, you may not always get it, AND, be prepared, because if you do get feedback, you may not like what you hear.

Establishing boundaries - Real Property Reports

Establishing boundaries - click on the link to read the article.

Lake McGregor Country Estates - not for overnight campers

If you are looking for a spot to camp for the night, or for the weekend, there is a public campground at the north end of McGregor Lake by Milo. As for Lake McGregor Country Estates, if you want to camp there, you must be registered by an owner at the resort. Yes, there was a time when "potential buyers" could stay at the resort for the weekend to see if they liked it there, liking it enough to possibly purchase. However, that is not the case anymore. Thus, the person who called me earlier today looking to camp on the weekend and check out the cottage lots, that is not permitted anymore. If you want to come look at the cottage or RV properties, we can set up a time to meet at the resort and view the properties. But, unlike 5-years ago when they were last out, you cannot just come out camping to look around. This incentive may have been abused a time or two, me thinks. IF you do know an owner at the resort and you would like to book a spot, please contact that owner and there is a website strictly for owners, where they can book you in.