One of the questions we hear is Whats the market doing? As most of you know our real estate market is like any real estate market. Its always volatile. It goes up and goes down, depending on the season and economic state. Right now we are good. Lots of sales and lots of choice. Last  month in Red Deer there were 111 sales of single family homes. Thats just homes, no condos, townhouses or mobiles with an average sale price of $339,495. I was watching the news from Edmonton last night and their report had the average price in Edmonton last month at $374,000. Right now there is 319 active house listings in Red Deer, so roughly about 1 in 3 will sell. Lots of sales, lots of choice  and lower prices over the past few years. Over the past two years the range in avg sales price per month has fluctuated from $297,000 to $368,000. there are always reasons why one month might be higher, such as one month we might have 10 houses over $500k sell and the next we have none, so that will always have repercussions on the avg sale price but over time we have seen prices go up. In the past 3 years we have seen the avg sale price go from $308K to $339K with 100 sales in July 2006 to 111 sales this past July. The market is healthy, houses sell that are priced in todays market and are in show condition.

Thinking of buying a house in Red Deer? Now is the time. Prices are stable, interest rates are at a great 4.19% and choice is amazing.

Anywhere in Central Alberta is a wise choice. Always something happening, always somewhere to go in a short drive time.

Thinking of moving? Relocating to Central Alberta? Call Ken Devoe at Century 21 Advantage with any questions you may have.

Cell 403-350-1192

Email - ken.devoe@century21.ca

As most people know there were a lot of house sales in Central Alberta over the past few years. There were ‘bidding wars' over houses because the supply did not match up to the demand. As sales are now back to a normal pace there are fewer multiple offer situations for a sale but they still occur. Houses that are priced right, at a fair market value, or priced below market value are always desirable. These homes are still being bought and are sometimes wanted by more than one family. As a buyer its not a great position to be in but you still have a shot at getting that home. My advice in this situation would be to know your top price you would be willing to pay and make a wise business decision. If you get the home great, if not we find another.

Most people do not know the proper protocol for multiple offers. As soon as the buyer has written an offer on a property the buyers realtor will call the sellers realtors to inform them of the offer. If the sellers realtor is dealing with another offer then he/she must inform all interested parties of all offers. All parties must know that they are in competing offers. This allows all buyers the opportunity to make their best efforts to be the sellers best option. When the sellers realtors receives all offers he/she will sit with his clients and talk about all offers. Price is always one of the top issues but conditions on the sale are always a big hurdle especially if one of the buyers have a home to sell before they can proceed with the purchase of their new home. When the sellers hear all the offers they have a few options.

They can:

• 1) Accept one offer and reject all others
• 2) Accept one offer and accept another offer as a back up
• 3) Counter one offer and set the rest aside until negotiations are final on the first offer
• 4) Reject everything

Rejecting all offers is never a good thing. I always recommend to my clients to work with the offer that shows the best promise. 

Things to keep in mind while you are in this situation.

 All parties must know of the multiple offers.

All buyers must know there is another offer on the desired home.

Only the seller knows what each offer contains. The other buyer will not know what your offer is.

Multiple offers is a tough situation to be in as a buyer. As I said go with an offer you are comfortable with and see what happens. Always look out for your best interests and never spend more on a property than what you can afford. If you have any questions about multiple offers please call Ken Devoe at 403-350-1192 or email at ken.devoe@century21.ca .

Thanks for reading.

Hello again, February 2009 was a good month for Red Deer sales, 113 compared to the 62 sales in January 2009. Compared to the 171 sales in February of 2008 we are still considerately lower but we can see consumer interest and confidence is coming back.

A great article come from the Globe and Mail, take a minute to read:
http://business.theglobeandmail.com/servlet/story/RTGAM.20090304.whousing0304/BNStory/Business/home

Spring is coming and so are buyers. Call me to be your new Red Deer Realtor.

Hello again, February 2009 was a good month for Red Deer sales, 113 compared to the 62 sales in January 2009. Compared to the 171 sales in February of 2008 we are still considerately lower but we can see consumer interest and confidence is coming back.

A great article come from the Globe and Mail, take a minute to read:
http://business.theglobeandmail.com/servlet/story/RTGAM.20090304.whousing0304/BNStory/Business/home

Spring is coming and so are buyers. Call me to be your new Red Deer Realtor

My second question for Heidi Dandurand at Invis was:

With interest rates so low right now, what is the average monthly payment on a mortgage of $100,000? If interest rates go back to 5.8% like they were last year what would your payment be there?

Heidi's response to this was very short and to the point:

$100,000 with 5% down payment over 35 years at 4.39% is $454.72
$100,000 with 5% down payment over 35 years at 5.80% is $541.16

Difference per $100,000 in savings is $7,127.28!!! in 5 years!!!

If you were to borrow $250,000 right now your mortage would about $1136.80. If you had bought last year at 5.8% your payment would be $1352.90. Thats a $216.10 saving per month. Like Heidi said that over $7,000 over your 5 year term. Lock that 4.39% in for 5 years and enjoy your home at a lower payment.

Prices are lower than last year and interest rates are at an all time low, neither will last.

If you need anymore information on your mortgage info contact Heidi at

Heidi Dandurand, AMP
Mortgage Associate,
Invis - Red Deer
#5, 3608 50 Avenue
Red Deer, AB T4N 3Y3
403 - 350-8958 (cell)
866-346-7444 (fax)

I had a thought. Instead of just my opinion what if I asked someone else what they thought of our market. How they saw things and what they expect to happen. That person would be none other than Heidi Dandurand of Invis heidi.dandurand@invis.ca .

My question for Heidi was, followed by her response:

What is your mortgage advice for people who are considering buying a home in this uncertain market?

"If you feel comfortable with the security of your employment, then NOW IS THE TIME TO BUY!!! With the softening of house prices and the lowest rates we have seen ever, this makes it the MOST AFFORDABLE TIME TO BUY. You can really take advantage of the lower prices and the lower rates! Plus, if you lock in the rate, you know exactly what your payment amount will be for up to the next 5 years. This sure beats renting when prices are always going up!!! "

When I read that from Heidi I thought it was a very simple answer,and it was. Perfect. Rates are really low right now. You have the choice of having your mortgage for less than 5 years but you always run the risk of the interest rates going up. Housing prices historically go up. The correction we have been witnessing will not last much longer. When prices start going up so will the interest rates. Like Heidi said if you are in a secure position in life buy NOW.

Welcome to a new year. 2009 is going to be a year of challenge for the world, not only Central Alberta. We are witnessing a sweeping change in world dynamics and attitudes. Your attitude and point of view depends on which day or which channel you watch your news. I believe 2009 will be a year of learning, of changing and of growing. The leaders of our countries have realized that we cannot keep pushing problems back, eventually we are responsible for our actions. In Central Alberta our housing market has undergone some changes. Sometimes I feel like a WalMart commercial with the roll backs and you are better because you are lower. Now more than ever houses have to be priced right or they will not sell. When I take buyers out we have 30-45 houses to choose from. The ones that are overpriced will still be there when we are done. Buyers are educated, they know the market and are not pushed to buy something anymore. My opinion though is not to be to picky. If you are considering buying then buy soon. There are signs the market is picking up. My listings are getting more hits on the different websites, mortgage brokers are busier and our office has a buzz to it again. I am lucky to be apart of the busiest office in Red Deer, other offices are larger but none are busier. We do more deals per realtor than anyone and when our office starts buzzing I know things are picking up. Its going to be a great year.

Its hard to believe 2008 is almost over. Its been a great year for real estate in Central Alberta and for me personally. I would like to thank all my clients, I hope you have the same great memories as I do. I got into this business because I wanted to help people find their dream homes in a stress free environment, to find the right home at a fair price. Personally it was a fantastic year. My wife Kelly and I are starting to work together with her hopefully joining me soon to help with the administration side, our six kids seem to be growing into adulthood and one gave us the most precious gifts a couple can have. Courtlyn was born this year and is the first of hopefully many of our grandkids. She is growing and happy and is Grampa's little doll. Nothing beats watching your own kids being born and growing up but a grandbaby is close. Professionally I had my best year in real estate for sales and most come with fond memories of good people finding their perfect home. I am most proud of the fact that I have helped people who had troubles with other realtors, good people who needed someone to care. I try to be honest and open and it seems to be working. To my past clients thank you, I miss you all and you have all changed me and made me better. To anyone reading this that might be looking for a realtor to help, my promise is to always keep your best interests in mind and help you find a home you can grow in, a house you can love in and most importantly a house that you can afford. Thank you all and have a very Merry Christmas

Most young people do not realize that buying a house might actually save them money monthly. With student loans, past consolidations or car payments you seem to be stretched. The right mortgage broker should be able to bring all those payments together, at a comfortable monthly payment. Rent is high, interest rates are low so why not try. Call me directly and I will point you in the right direction. You have nothing to loose. You will get some sound advice from a mortgage broker, so if for some reason you do not get your home right now you will know what you must do in the future to make it happen.

People I meet through my business always ask for my opinion on the economy and whats going to happen. I am just like President Bush. I am just like Prime Minister Harper. I have no clue. I can not tell you we are going to be ok. I can not tell you that there is a rainbow around the corner. My feeling is we will be ok. Alberta is in good shape. We have the oil field first and foremost but we are very diversified that we can take a hit on exports and still be ok. As Albertans we should be worried but are in a safer spot than others. I think we should be thankful that we are not going through the stuff our friends in the US are going through. They are going through a mess that will make them stronger, eventually. Alberta is one of the few provinces/states right now that is banking money instead of losing it. I think we should be proactive in the development of new fuels and new energies. We should not allow the rest of the world to live in uncertainity while we live in prosperity but we should also realize that the world is going greener and a few new sources of energy could keep us one of the energy giants of the world. Now is not the time to sit back and hope things turn around, now is the time to be proactive and create a bigger wealth for Albertans which is going to create a better world for all mankind. Remember the immortal words of Warren Buffett "Be greedy when others are fearful and be fearful when others are greedy". Remember this is just my opinion. Have a great day.