Lethbridge Real Estate
by Lethbridge Realtor and Lethbridge Mortgage Broker
I have been helping people buy and sell Lethbridge real estate for almost 17 years now. I also help them arrange their Lethbridge mortgage financing for the real estate that they purchase. In the many years that I have been involved in the local Lethbridge real estate industry I have observed the ups and downs of many different markets.
We had a boom market in about 1993 that was spurred on by the creation of first time home buyers programs which first allowed buyers to purchase Lethbridge real estate with as little as 5% downpayment. This was huge and really pushed the starter home market which in turn pushed the rest of the market higher. That boom was followed by a lull in which all the buyers who were interested had jumped in, prices had risen, and there was no more buyers looking to buy. Inventory rose higher in Lethbridge, and demand softened. Even at that time the prices stayed pretty flat, but did not really drop.
We are currently in the most challenging Lethbridge real estate market in our history. There are many buyers who purchased at the top of the market and paid top dollar for the homes they purchased at that time. Many of those buyers were represented by 'new' Realtors who jumped into the business trying to make a quick buck. Many of those guys are on their way out, many have already left the industry. Unfortunately, the people they screwed errr sold houses to are in trouble. Many of them paid more for their Lethbridge real estate than it is worth today.
I can say that every client I sold to before, during, and after the boom is currently NOT in that situation. Every one of my buyers was able to purchase bargain priced real estate or make use of creative financial terms which have allowed every one of them to have purchased well below 'market value' and as such they are all sitting okay even as prices have softened in Lethbridge.
If you are interested in buying real estate in Lethbridge, it is of the greatest importance that you purchase property at the right price and also that you purchase the right property. If you are interested in paying 'too much' or 'retail' for real estate, there are plenty of real estate franchises in Lethbridge who will help you with that. If you are interested in hunting down undervalued, underpriced, and high potential real estate you need to be working with a real estate professional who has a track record of finding and selling those properties.