Hello to our past and present clients and followers of the SMITH & GRIFFITH REAL ESTATE TEAM. What a year it’s been, full of market expansion and continuous innovations in our marketing, advertising, customer service and technology. We are dedicated to expanding our business and extremely proud of the top tier service we provide our clients. Thank you for your support, business and well wishes over this past year.
As many of you are aware, the Real Estate Market hasn’t yet begun to recover. In fact, it continues to show signs of further easing of sales and sale prices, more new listings and elevated inventory levels. Struggles in the employment market, the slow recovery and challenges in the energy sector combined with tighter lending conditions, stress tests and rising interest rates are all contributing to current market conditions.
As sales and price declines are not consistent across all areas and types of properties, buyers and sellers need to be realistic about their objectives. Motivation is key in this market when you look at the expectations of sellers and the reality of what buyers are willing to pay. Buyers need to be aware that price changes differ depending on what and where they are buying and the motivation of the Sellers. The decline in sales does not mean price declines across the board. It’s extremely important to be well in-informed, pre-approved for a mortgage and having the most up-to-date information about the prices in the community you are buying in.
With plenty of inventory to choose from, this fall looks to be a great time to buy – lots of opportunities. Let the Smith & Griffith Real Estate Team know what you’re looking for and we’ll sort through the inventory to make finding your ideal property a whole lot easier.
Sellers need to be well informed to be competitive. They need a good understanding of what has been selling around them and how their property compares to homes that have successfully sold. In many markets, the name of the game is aggressive pricing and clear motivation! The Smith & Griffith Real Estate Team use the latest digital and social media marketing tools to maximize the number of people who see your property listing. We are confident that your property will be seen by all Buyers in the market. If priced correctly, buyers will reveal themselves and come looking for properties that meet their perception of price to value. Let’s hope the cooler temperatures of fall will warm up the sales activity level in all markets!
The Ag Land Market remains very strong with continued increases in the value of land per acre in most areas. Crop land leads the way in the increased value as the demand continues to outstrip supply. Feed and cashflow challenges in the cattle industry keep a top on the amount that cattle producers are willing to pay for pasture land. Producers often prefer to rent rather than make the capital investment in range land. However, the continued shortage of available land for rent in both the grass and grain sectors make land purchases a necessity for those interested in remaining in the farming and ranching industries for another generation.
If you’re planning on buying land, get on our First Call Buyers List to receive the new listings as they come to market. If you’re selling, talk to us about maximizing the dollars in your pocket by using our marketing experience and tools to reach competitive land buyers that would otherwise be unaware of your land for sale.
Our business is growing because of referrals from clients and friends like you and we thank you for passing on the Smith & Griffith name. We’d love to assist others, so please send colleagues, friends and family our way. We promise to provide them with great service as we are committed to working with our clients to achieve their desired results!
While it has been very exciting first year in business, we remain hopeful alongside all Albertans that Alberta will eventually return to a position of strength and revitalize the Alberta advantage.
Best wishes to you and your family as you head into this very busy time of year when kids are signing up for new activities or competing in sport tryouts. Wishing all the farmers a bountiful harvest!
Rees Smith & Kari Griffith – CIR Realty