News

Red Deer Market Update

May 14, 2018
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Tania Grozelle, your Red Deer mortgage broker, understands how big of a commitment it is to become a homeowner. As your local Red Deer mortgage broker she recognizes that buying a house may be the biggest expense you ever make, therefore, she and her team will work hard to find you the best rates out there. To make this happen, we first need to understand the trends of the current residential market.

 

Central Alberta Update

According to the Canadian Real Estate Association, the January 2018 sales have significantly increased from the previous year. In January 2018, there were 224 units sold, which is a 21% increase from 2017. This year was the highest month of sales since 2014. By the end of January, there were 3,032 active listings, which is the most listings Central Alberta has had in winter since 2011. All property types sold in January 2018 equaled 224 units, which was about a 21% increase from the year prior.In addition, the total value of sales have increased 18.5%, totalling $78.2 million.

 

Over the next few months, however, the total sales are expected to drop. Due to the new Canadian Mortgage Rules, a mandatory stress test has been implemented on all Red Deer Mortgages. The purpose of the stress test is to see if homeowners can still afford their loan payments if there were an increase in interest rates. This new rule has said to affect Canadian’s affordability by as much as 15%. For more information on the new mortgage rules, or to see if this rule affects your affordability, please contact 403-392-5808.

 

Current Red Deer Pricing

According to Zolo.ca, the current median asking price in Red Deer is $400,000 for a detached home, $253,000 for a townhome, and $200,000 for a condominium. The total price of homes have decreased 1.52% since April 2017, and the median monthly cost for a Red Deer mortgage is $1,338.

 

If you are looking for a home in Red Deer, now would be a great time to buy due to the recent decline in listing price. Start looking now before the prices increase again.

 

Contact Us

As your local mortgage broker in Red Deer, Tania Grozelle would love to work with you and help finance your dream home! For more information on the current Red Deer residential market, or to get started on your mortgage application today, please contact the Tania Grozelle at 403-392-5808.

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August Market Update

September 14, 2017
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in News
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Home sales stay strong in Alberta, even as national levels are beginning to drop.

According to the latest report that was released by the Alberta Real Estate Association in July, the number of sales that were reported in the Alberta area last month rose to 5,282, which is a 3% increase over the same month last year. These sales have contributed $2,096,668,732 to the year to date total sales volume for residential sales in Alberta.

In contrast, the number of home sales there were recorded on a national level dropped nearly 12% on a year to year basis for the month of July.

The great news is that even while sales are still up in the Alberta market, prices aren’t!

In July of 2017, the average sales price of homes in the local area was recorded at $396,946. This figure is down 1.8% in comparison to the average sales price of homes recorded in July of last year.

The average sales price also fell nationally, decreasing 0.3% from July of 2016 to $478,696 in July of 2017.

With prices dropping and sales increasing, it’s no surprise that the number of new listings is also on the rise. As the Alberta market continues to remain hot, despite the cooler weather, more sellers are listing their properties and more buyers are snatching them up!

There were a total of 10,648 new property listings added to the market in July, bringing the active residential listings total to 34,109 at the end of the month. This total is 15.6% higher than the total at the end of July 2016.

These 34,109 listings give Alberta a 6.5 months supply of inventory, which is almost a full month more than the supply at the end of July last year.

If you are interested in purchasing a home in the area, give me a call today! As a trusted Red Deer mortgage broker, I am extremely knowledgeable about the local real estate market and I can’t wait to help you purchase the home of your dreams here!

For your free consultation, call (403) 606-2158!

 

 

Source: http://creastats.crea.ca/area/

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Now Offering Manulife One!

May 13, 2016
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Manulife One ImageNow Offering Manulife One!

We do offer options and one of these options is something that is now offered with Sky Financial Corporation The Mortgage Centre.  It is called Manulife One.

Manulife One is an innovative all-in-one banking account that puts all your money to work all the time in order to outsmart your debt. Click here to see how it works. Then contact me today for more information.

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