Is The Housing Market Going to Crash Like It Did 2008-2011?

 I’m certainly not an economist but my half optimistic, half realist self would like to believe that what is happening with housing sales right now and for the next few years will not be a repeat of 2008 to 2011. These were the years when we saw buyers disappear and prices hit a decade low. Of course without my crystal ball working properly I can’t be certain but here is my logic.

We all know real estate prices are cyclical and sales data suggests the average real estate pricing cycle is 7 years. Prices rise for 3 or 4 years and then they decline for 3 or 4 years. So it makes sense that prices have started their downward turn here in 2015. We were on an up cycle when I started in real estate in 2006 through to 2007 right to the first two quarters of 2008 and then the drop continued to 2011 until we started back on the up cycle in 2012.

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Press Release: Written Service Contracts Become Mandatory for Buyers in Alberta Effective July 1, 2014

On July 1, 2014, the Real Estate Council of Alberta (RECA) will require industry members who establish a client relationship with a buyer who is trading in residential real estate to enter into a written service agreement with that buyer.

RED DEER, AB – Alberta is following in the foot steps of Ontario with changes to section 43 of the Real Estate Act that will make it mandatory for a buyer who wants to be a client of a real estate agent to sign a contract for services. This change comes years after sellers have been signing written service agreements to list their home on the MLS® System but these types of agreements with buyers have been optional. Susan Rochefort, owner and co-founder of Lime Green Realty, said the intent of making the contracts mandatory is to continue to elevate the level of professionalism in the real estate industry, “I see this change as something really positive for our industry. Working with a real estate professional has evolved dramatically over the years and this next step continues to improve our industry. These written service agreements will better define the agents roles and responsibilities in representing buyers and ultimately create a more professional environment.”

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Press Release: Susan Rochefort Breaks a 23yr MLS® Record

PRESS RELEASE: February 5, 2014

Agent Breaks 23 Year Record for MLS® Sales in Central Alberta

Susan Rochefort of Lime Green Realty sets a new record for MLS® Listings Sold

RED DEER, AB – For the first time in 23 years of Residential MLS® listing sales in Central Alberta, Susan Rochefort, REALTOR® and Owner of Lime Green Realty Inc. of Red Deer, Alberta has sold 150 residential listings in one year (2013). The previous record was held by a Royal LePage agent with 137 sales in 2006.

“We took a huge risk in 2009 starting this company, as leaders & game changers in the real estate industry we needed the consumers support & these numbers are proof that we have it. This company was built on the idea that the consumer comes first so the true measure of our success is how many happy clients we have & we have passed that test as well. Through feedback & a survey we had 144 of our 150 clients participate with 142 indicating they were extremely happy with our services, 2 were pleased and 6 did not respond or could not be reached. I realize in business you won’t please everyone but we do strive for excellence at Lime Green Realty” said Rochefort.

 

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Top Tier Real Estate Agents Don’t Discount Commissions So Why Do I?

I was reading an article on CBC's website from 2012 that was titled "Real Estate Secrets From a Pro". The first question to the real estate pro in the Q&A thread asked: "Why do some real estate agents cut commissions and others don't? The answer from the pro was: "Top-tier agents don't discount commissions because they don't have to. Agents are like cars: They come at different price points based on their performance. I always say, if an agent can't negotiate their own commission successfully, how can you expect them to negotiate for the biggest asset you will ever own?"

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The Best Way to Sell Your House.... Make It Easy for a Buyer's Agent (Part 2)

Our success with Lime Green Realty Inc. over the last three years is living proof of how making it easy for a buyer's agent can bring great results. In an industry that is highly competitive we focused on commission savings for the seller on the listing side of the commission structure and did not alter the buyer's agent's commission. This strategy ensured that our sellers would save money while still providing a typical commission to any agent that represented a buyer. On top of that, we have ensured that we make it as easy as possible for the buyer's agent to sell our listings. Here are just some of the things we do:

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The data included in this display is deemed reliable, but is not guaranteed to be accurate by the Central Alberta REALTORS® Association

The real estate listing information and related content displayed on this site is provided exclusively for consumers. personal, non-commercial use and, may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information and related content is deemed reliable but is not guaranteed accurate.

*Compared to a typical rate of 6% on the first $100,000 and 3% on the balance of the sale price, not applicable for agent or relocation referrals.
**$1,500 cash back on a property that sells over $250,000 and $1,000 for a property that sells under $250,000. Commission paid by seller must be 3% on the first $100,000 and 1.5% on the balance of the sale price. Not applicable for agent or relocation referrals. May be reduced or not applicable on for sale by owner properties.
***Includes transactions from the CARA MLS System.