From a realtor: 7 |2 \+ |1 W% M+ ?+ |) RI 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. 1 W: ~: i0 E" X' Z: _# O5 tThe 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.1 L8 ]# |- x5 x- |
We find a lot of houses that are built during the boom have unrealistic prices, houses built from 2006-2007/2008.+ _! q4 ^/ `* V( f
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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.$ V# A4 _5 f9 q- z8 ~- b
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.0 t1 G0 D3 J/ ^7 r
ask 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).2 g! d- B/ Y( E5 s( \7 ?
This is only one of the comments from the following blog:0 A& V# p5 L; H- N
1 l: T$ o" Y( _0 w+ W http://edmontonrealestateblog.co ... -1213.html#comments% M9 f M/ D2 Z- } }
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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:/ f6 o8 s3 f, S6 m* ]& ?