Advice Requested for 1st Time Seller

[Georgeo]

Hi: We`ve had an acreage property in Sturgeon County on the market for 2 months now that has had lots of viewing but minimal offers. We are now at the crossroads of either to rent it out, drop the price significantly to sell it, or leave it vacant until spring and sell it then. With so much change in the markets recently and not beening able to make it to the last 2 REIN meetings we`re not sure what the best option is or if there are others. Also, does anyone know what latest news is on the Redwater/Heartland upgrader and if and when it is going ahead?

Thanks

 

[mikecunning]

QUOTE (Georgeo @ Dec 8 2007, 10:30 AM) Hi: We`ve had an acreage property in Sturgeon County on the market for 2 months now that has had lots of viewing but minimal offers. We are now at the crossroads of either to rent it out, drop the price significantly to sell it, or leave it vacant until spring and sell it then. With so much change in the markets recently and not beening able to make it to the last 2 REIN meetings we`re not sure what the best option is or if there are others. Also, does anyone know what latest news is on the Redwater/Heartland upgrader and if and when it is going ahead?

Thanks


What a gut wrenching roller coaster ride, eh? Nothing like being on the market at the slowest time of the year...remember, it`s Xmas time....winter...typically a slower time of year....what has your realtor said? Is it time for an update CMA? What about spending a couple of hundred bucks on an appraisal?...that couple of hundred might save you thousands if you under sold...

 

[samcansam]

As requested, update on Sturgeon County upgraders:
- Northwest: started the site preparation and award the contracts. They still have some issues with getting all their finances in place due to the escalating costs. My gut feel that it will happen, especially if the government provides some incentives as promised in the Royalty framework.
- Fort Hills: this is the big one, Petro Canada explicitly indicated that it would happen. Petro Canada has started the front end engineering work. My gut feel that it will happen.
- Northern Lights: on hold awaiting finding a partners. again, I think it would happen.

If I were you, I would on to the properties until 2010. I think that it could only go up from this point on. Good luck.

 

[DennisEpp]

If u are selling to acheive a higher price than the market is, ie: looking for a buyer who will speculate on values going up based on the corridor activity...that buyer has fairly much evaporated. Renting your home out has it`s own issues. Plenty of showings indicates you have a property of interest to the buying public. Is your home showing the best it can show? If your answer is yes, then u may consider a price adjustment. Every buyer has to percieve a value in some form. Price is still the number one determining factor when there are a lot of showings and no offers. Price it at the value you need to achieve, not over and feel that you are negotable, just bring an offer. Many buyes do not beleive or feel comfortable with offering anything more than at most 5 k below list. They assume that u will not take it, especially if they feel you are even 15k or more higher than the price they feel. Price it to sell, it is like fishing...you have to hook the fish before u land it in the boat. Price it right and get that offer to purchase signed, now u have them hooked, negotiate and land them.

Dennis Epp

 

[JeffSmith]

What is the mls #. I have investments in Sturgeon County.