From a realtor:+ I9 T6 d6 W. Y5 `; b7 b
I get new listings/changed listings/price changes sent to me weekly. I can’t tell you how many have had “price reduced” on them. Houses that were priced 560+ are now going for 499K.( t4 p: E# B+ z7 |
The inventory is a bit low, but a lot of the inventory that we are looking for (500k+) are really crappy houses. We know of a house that we’ve had our eye on for about a year and its been on the market for 5 years (vacant). A brand new build…that’s going from original asking price of 780K down to 650K. I can’t imagine the holding costs on this house (property taxes, utilities) for the 5 years.8 h; ~( C/ c/ R& U" I
We find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008. * D- _# `3 O& u l/ f......./ _/ S' a2 l/ K
You need to look at price history, not the Days on Market number. Many houses get relisted when they cant sell for the original asking price.5 A# I! D& y8 z% A# I' E- g9 Y
My wife and I have gone to many house viewings thst have been in the msrket for 6 months to over a year this month. # M# p; P6 r mask your sales person for a price history. The ask/sell price stats are a complete lie. Any honest realtor will tell you that (like ours).* G; E5 O! _ I0 L
This is only one of the comments from the following blog: 5 g- U7 f2 Q2 Z. s. T4 q/ R% L9 I 8 j, t$ P" Z9 e- Ehttp://edmontonrealestateblog.co ... -1213.html#comments/ t- X+ `4 Q- E- D' J/ J/ r
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Actually, the blog is good for poeple who are intered in the real estate info such as Edmonton Real Estate Market Weekly Update. The link is as below:0 V! P Q# Q' P% ?# D' r$ T1 k
2 U' t; Q3 [( Y( J% D http://edmontonrealestateblog.com