Well January 2019 has come and gone, what next?
Having recently attended the CREB Forecast Breakfast I heard the reality of our job creation and population growth from chief economist, Ann-Marie Lurie. It appears Calgary has no foreseeable relief for our repressed Real Estate market. However, with all things said homes are still selling. It comes down to being the best of the best. Understanding your homes pros and cons from location to presentation in a buyers market. I recommend taking your time to step back from your home and view it with a fresh perspective, look at what is happening in your community. Visit some show homes. Consult a home stager or attend a home staging class. The average investment for preparing your home for sale is 1% to 3% of the total home value.
Remember it is the best of the best homes that is selling. Best price, best location, best presentation or the best deal. Buyers have time and choice on their side.
Soooo, here is the good news. Now is the time to move up! Lets say your home adjusted from $400k to $360k over the past few years. That same 10% adjustment in a $600k would mean that home now is at $540K or less. (These are just examples and not on a specific property)
All in all this is a good year to be cautious but continue moving forward. A year to lean into your community and family. A year to count your blessings and be open to asking for guidance. A year to finish your reading list or start the book of your life.