Forclosures are very missunderstood in the Calgary real estate and area market.
Consumers tend to believe that forclosures are amazing deals that pretty much just need a good clean. This is simply not true.
The bulk of Calgary real estate forclosures are on the East side of Deerfoot Trail. During the boom of 2007, few detached homes in Calgary could be found for under $300,000. Today there are lots of listings between $200,000 and $300,000. About five percent of the homes in the Calgary real estate market are in a forclosure sale. The majority of these sales are under $300,000 and in the North East or South east side of the city.
In Calgary there are 23 forclosures over $600,000 and 7 over $900,000. Calgary has 6050 active listings.
Bearspaw and Springbank real estate are similar in that very few homes come up in forclosure in this area. Two are currnetly active and eight have been sold in the last two years. Higher end real estate foreclosures usually have a long market history and rarely come on the market initially as a good deal.
What we have leaned being Real Estate Agent's is that Bearspaw Springbank real estate foreclosures are a very small part of the overall market. When a good deal appears on the market, it usually sells in a short period of time and has strong interest.
Looking for more information on Bearspaw or Springbank? Give Sheila Morrison or Jeffrey Bone a call and we would be happy to discuss your real estate needs.
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