Ambergate Edmonton Real Estate Blog

To ensure that your home buying process is as stress free and enjoyable as possible, we hand pick our preferred service providers.

You would be wise to get your future home inspected by a competent professional before you finally sign off on the contract.

Please consider using Joe Yaretz. Joe has completed many satisfactory home inspections for our clients. Our clients really seem to appreciate his thorough friendly approach. Joe will go out of his way to provide you with a solid understanding of what you are buying, but without scaring you away.

To contact Joe please click on this link: Joe Yaretz – Licensed Inspector

If you are wondering why hiring an inspector is recommended please click on this link: 3 Reasons to Use an Inspector

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Just over one year ago Stevi Lashley joined our team. Stevi has proven to be an excellent REALTOR®.

She’s persistent, professional, knowledgeable and highly effective when she represents her clients. Here is a recent testimonial that we received on our Facebook page.

“My Husband and I really enjoyed working with Stevi. She was very helpful and super efficient with sending us listings that met our criteria as well as setting up viewings. We will definitely be recommending her to our friends. Thanks again, Stevi!”

We are proud to have Stevi on our team.

To reach Stevi just click on this link: Stevi Lashley – Advisor / REALTOR®

About the author:

You can read more about the author of this blog by clicking this link – Stuart Neal Broker

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We are often asked by our home selling clients for guidance on pricing their home for sale. And most sellers think we are going to advise them to select a price that ends with a 9. Why? Known as ‘odd’ or ‘charm’ pricing the reason that many people think an odd price point could be best is based on years of conditioning and experience. I believe that a newspaper man came up with the idea that if he charged 9 cents not 10 cents for his paper he would sell more. And this belief has continued for decades. In essence it’s a trick and most people don’t appreciate it.

New research is emerging that proves this theory wrong. Why?

  1. An even number conveys value, trust and transparency. According to Mark Anderson of Business.com people have to think

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Wild Rose is one of the most popular communities in south east Edmonton. We pleased to present this luxury level home for sale at a great price. Click this link to read the details: Luxury Triple Car Garage Home for Sale.

To see ALL single family homes for sale in Wild Rose please click on this link: All Wild Rose Homes for Sale.

 

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Summary:

Inventory levels have stayed lower for 2 consecutive months. If this pattern continues, we should see a turnaround later this year.

Month End Inventory:

Over the last 2 years we have witnessed a large excess of inventory. This is no longer the case. At the end of March 2019 there were only 2150 condo units for sale across Edmonton compared to over 2500 last year.

Numbers Sold:

251 condos sold in March 2019 compared to 290 units last year, a difference of only 39 units. We don’t see this as significant.

Days on Market:

Condo buyers in March 2019 continued to act with confidence and contracted in 74 days compared to 70 days in March 2018. Again, we don’t this as significant.

Sales Values:

Discounted

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Summary:

The number of homes sold this year was about the same as last year. However, most homes were selling at a discount. Do we see light at the end of the tunnel? If inventory levels tighten up, yes we do.

Numbers Sold: 

In total, 625 single family homes sold in Edmonton during March 2019. This compares favorably with March 2018 when 692 homes sold. A difference of only 67 homes sold. This proves the underlying demand for homes in Edmonton.

Month End Inventory:

The days of excess inventory are behind us. At the end of March 2019 there was only 371 more homes for sale compared to last year. If this pattern continues then values will harden at some point.

Days on Market:

In March 2019 most single-family homes

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Wondering if there’s a market for your home? FYI in Edmonton, from January 1st to when the blog is being written i.e. March 29th, 2019, over 2000 homes have sold, taking on average 71 days to sell.

Perhaps your REALTOR® was pressuring you to reduce the price and you have been resisting. It’s understandable that you would want to avoid a price reduction.

The good news is that it’s possible to change some other elements of your ‘value proposition’ first. Let consider those options.

1.  Adjust Your Possession Date

Can you move out quickly? If so, you should offer immediate possession. But don’t hide this information inside the listing details on the MLS® System. Tell the world by building this into your description. To see examples, click on

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Situation

Luay and his family decided to purchase a business in Ontario. This meant that they needed to sell their home in Summerside on the south side of Edmonton. Luay had purchased the home brand new from the builder and subsequently paid full retail only a few years ago. In our market the first 5 years of owning a brand-new home can be tough because they almost always sell for a discount when compared to their competing new home equivalent. Luay decided to find the least expensive method of advertising the home for sale on the MLS® system and to avoid expensive traditional REALTOR® commissions if he could. Luay purchased a Comfree (now Purple Bricks) program. The home sat unsold for over 6 months. At that point Luay looked around for a smart

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Getting access to listing information is easy these days. A quick Google search and you have found a website that will give you access to almost all of the condo and house listings in the metro Edmonton area. And if you set up a search, you will get new listings pouring into your email box several times a day. 

So Why Is This a Problem?

Everyone can get this information. So what? You might be asking. Why is this a problem? The problem is that you will be competing against all the other buyers out there. Rarely do sellers put their homes on the market at under market value. And if they do, what happens? You will have to act quickly and will almost always be in a multiple offer situation. Your chances of purchasing at a discount are slim.

So

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