"Once you make a decision, the universe conspires to make it happen."
– Ralph Waldo Emerson

Is this a good time to sell my home?

In a word, YES! The market is red hot in Southern Alberta right now and prices are on the rise. Traditonally, spring was the best time of year to sell your home, but because of a severe shortage of houses on the market right now, people are in buying mode year-round and are willing to pay top dollar. Many houses are sold within days of being listed by their realtor.

There are different circumstances for different types of homes, as well. Most current listings in Lethbridge are for newer homes. Smaller homes in the under-$250,000 range are selling fast, while a shortage of older, larger homes in the $300,000-$450,000 range has pushed demand to an all-time high. Sellers of these types of houses routinely find their property in the middle of a bidding war, with people willing to pay more than their asking price.

What will happen if I wait?

All signs in the marketplace right now predict continued growth and a continued steady rise in prices and costs. Recent economic forecasts show no slowdown in the Alberta housing market for at least another two years, and possibly much longer.

What does that mean to you? It depends on your cirsumstances. If you own a home, the value of your home will steadily increase. This is good news if you’re happy with your home and don’t want to move. However, if you’re looking to upgrade or relocate, the price of the home you will buy is also going up. In a nutshell, if you’re thinking about moving, there’s no point in waiting to see how much you property will increase in value - it all balances out when you look at the cost of your new home.

However, if you’re looking to buy your first home, waiting can be a major mistake. Costs will continue to rise, and the house that’s for sale now for $180,000 may be $220,000 this time next year. Chances are your income won’t rise by nearly that much in the coming 12 months. Basically, if you want to buy, BUY NOW! However, make sure your finances are in place - jumping into a mortgage you can’t afford is far worse than waiting a while to enter the housing market.

Why do I need a realtor?

In a sellers market, it’s easy for homeowners to get lost in the numbers. A realtor’s commission may seem like a lot of money on paper, but in reality you will come away from the deal with more money.

How? Simple: an experienced realtor can sell your home for more money. They analyze the market regularly to determine how much your home is worth. Professionally listed homes routinely sell for much more than their for-sale-by-owner counterparts. When you realize you could get 15-20% more for your house with a realtor, that commission number seems much smaller.