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Encouraging residential real estate market in Central Alberta

Through the bitter winds of the winter often come the encouraging winds of change. This bodes true for the residential real estate market in central Alberta after a somewhat chilly November and December, according to the Central Alberta Realtors Association (CARA). In fact, the entire province saw an almost 7 per cent increase in sales in January from the previous year.

A Lacombe real estate agent said there are buyers in the ready to ink deals in the central part of Alberta, so if people have been thinking of listing their home, now might be the time. The realtor also said there has been lots of interest from out-of-town real estate agents in the Lacombe, Blackfalds areas. The market continues to favour buyers, however. Prices for homes are falling, letting more people in on the home buying front.

Would-be purchasers are encouraged to get preapproved for a mortgage. Doing so may save them time and the heartache of looking at homes out of their price ranges. It might also be wise to seek the advice of a lawyer who would be able to give an indication of closing costs, for which some purchasers may not be aware. 

An Alberta lawyer experienced in real estate law generally knows the market trends in his or her practice area. He or she may be able to offer some insight to both prospective purchasers and vendors. Residential real estate law can be somewhat confusing and complex and a lawyer's guidance may prove to make the buying or selling experience less stressful.

Source: lacombeonline.com, "Housing Market on the Upswing in Central Alberta", Jordan Davidson, March 9, 2018

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