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News Advertiser
APRIL 1, 2020
www.NewsAdvertiser.com
Real Estate Market Showing Promise Michelle Pinon News Advertiser The real estate market usually starts warming up in Spring. Market conditions might prove advantageous for people wanting to purchase property in 2020. Most recently, the Town of Vegreville dropped lot prices in the Fox View subdivision by $20,000 to more accurately reflect market conditions, and to attract interest to the area, which is located along 60 Avenue between 54 and 55 Avenues. Altogether,
there are 15 lots for sale and range in price from $46,940 and $49,910. Ralph Soldan, a real estate agent with Royal LePage Homewise Realty, see’s a lot of potential in the market. “I’m an optimist,” said Soldan, who always looks on the bright side of things. He is hoping things will return to normal in four weeks, and keep thinking positively. So far, the company has sold 15 singlefamily homes, in 2020. That’s four more
properties than in 2019. Currently, there are 110 single-family homes available for sale, and 27 business and vacant lots available for sale. As far as single-family homes, Soldan said ones that are priced under $200,000 are selling. Soldan pointed out that 62 out of 137 properties for sale were priced below $200,000. That almost makes owning a home, paying a monthly mortgage payment compared to paying a monthly rent payment about the same price-wise, he noted. On March 27, the Bank of Canada lowered its target interest rates for the overnight rate by 50 basis points to ¼ percent. The Bank Rate is correspondingly ½ percent and the deposit rate is ¼ percent. This unscheduled rate decision brings the policy rate to its effective lower bound and is intended to provide support to the Canadian financial system and the economy during the COVID-19 pandemic. According to the Bank of Canada, “The spread of COVID19 is having serious consequences for Canadians and for the economy, as is the abrupt decline in world oil prices. The pandemic-driven contraction has prompted decisive fiscal policy action in Canada to support individuals and businesses and to minimize any permanent damage to the structure of the economy.”
4-h public speaking - CONTINUED from PAGE 8 Maddy Ruzicka won first place in Senior demonstrations for her “Duck & Goat Cheese Pastry” and the second prize went to Austin Bonham with “Welding”. The first and second place from each category (Junior, Intermediate and Senior) moved on to districts on March 1st in Bruce. Of that group, Maddy Ruzicka and
Nolan & Cameron Dixson will be going to Regionals at the Portage College in St. Paul on March 21. We’ll keep you posted for the next update for the Beaver County 4-H Multi Club. Check out the club’s Facebook page (Beaver County 4-H Multi Club) to see upcoming events and news.
