Just wanted to let you know that I went to the Edmonton Real Estate Board's yearly forecast seminar this morning and have some POSITIVE news! Although we won't be setting any records this year as a whole the market should be relatively balanced this year and also should be following a "normal" pattern this year meaning that house prices with remain steady until demand gets higher in the spring/summer. Please note all buyers that are on the fence waiting for lower homes prices or interest rates, this will not be happening. Interest rates have already gotten higher and will continue to do so throughout the year. However house prices will remain pretty constant to what they are now keeping the purchase of your first home very attainable! So for all you buyers out there 2011 is the time to purchase, you can lock in to lower rate than what will be available in 2012 and house prices are also lower than what they will be in 2012! And for sellers don't expect to get top dollar for your home, but you definitely don't have to give your house away as in 2008, we should have a mostly balanced market so both buyers and sellers are neither to an advantage or disadvantage and both sides can expect to compromise and meet in the middle! Hope this was helpful and feel free to call me at 780-722-1211 to discuss your real estate needs.
Remax Real Estate Centre