All Blog Entries by Stuart Neal

Found 24 blog entries published by Stuart Neal.

One of the first things you should determine when considering purchasing a home is how much you can afford and who will be willing to lend you the money.

Here in Edmonton you will have literally hundreds of choices of mortgage providers. Be careful about asking too many of them to run credit checks on you however. Every time your record is submitted to the credit bureaus, (a kind of database for lenders to look at how well you pay your bills) it may negatively affect your rating.

Your Existing Bank

Applying to the bank that carries your chequing account and where you pay your bills would be an obvious choice for many potential home buyers. And why not? They know you. They trust you and they want more of your business right? In many cases this

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Many home buyers particularly first-time home buyers are drawn to new homes and its easy to understand why. Nobody but you will have lived in the home and in some cases, you can tell the builder what you would like to have included in the specification. Other people are drawn to ‘pre-owned’ or resale homes. In this blog we examine the pros and cons of each option.

New Homes

Pros: Buying a new home, particularly if you can have some input into the design process, may be the closest you will ever get to owning that perfect home. All the materials that go into your new home will be new and therefore maintenance should be minimal at least for the first 5 to 10 years.

In most cases, the overall design of the home will suit your modern lifestyle

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Perhaps you have been finding that cleaning the house is just too much, or that the yard work just gets away from you? Maybe you find that your home is simply too big these days?

Before you even consider moving away from your cherished home, why not consider the alternatives first?

1. Hire a Cleaner

There’s no rule that states that you must do the house cleaning yourself. If you can afford it, why not have someone come in and spruce up the place once a week? It might also give you something to look forward to i.e. a friendly face coming into your home to chat with and perhaps even enjoy a coffee with.2.

2.  Hire a Yard Work Team

In the United Kingdom where I’m originally from we call these folks ‘gardeners’. Yard work here in the

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Summary:

The Edmonton home selling market continued to show its strength in July. We witnessed almost the same number of transactions as last year. Days on market was similar. Values have been challenged a little.

Days on Market:

In July home sellers were witnessing success in only 54 days, up 3 days from last year. Home sellers who are still on the market after about 60 days, should be asking their REALTOR® for advice, as there is something wrong with their positioning.

Month End Inventory:

Although month end inventory was 1020 units UP on the same time last year, this number has come down from June which was at 1245 unsold homes for sale.

We expect that this number will further slide as unmotivated home sellers start to

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At the end of June 2018, in Edmonton we witnessed the highest level of inventory, lower sales numbers and much lower sales prices than we have seen in 3 years. See June Market Report for details.

It’s never been more important to select your REALTOR® and real estate sales company very carefully. On average, less than 50% of homes listed for sale in recent times have actually sold in term.

What must you do to stand out?

Make Sure You Are Advertised on All Key Websites

Not all brokerages have subscribed to the Direct Data Facility Agreement managed by the Canadian Real Estate Association (CREA). Why does this matter to you? Simple. If you pick a brokerage that is subscribed to DDF your home will be advertised on EVERY major website in the

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Summary:

As we reach the peak of our market, home sellers are witnessing success in a reasonably short time period. Average days on market was just 53 days in June. However, sales values are aggressively being challenged and buyers can now pick up some significant bargains, if they know how to approach the market. Read the details by scrolling through the report.

Days on Market:

Homes continued to sell in a reasonably short period of time. On average home sellers were under contract in 53 days up by 3 days in June 2017. If your home has been on the market for a lengthy period it might be time to make some changes to your positioning. 

Month End Inventory

This part of the story continues to grow. We have witnessed a steady

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Summary:

Although sales volume was ever so slightly down in May compared to the same month last year, buyers purchased more quickly and paid a little more than they did last year. Read the details by scrolling through the report.

Sales Values:

Against the backdrop of very high inventory levels, home sellers did well in May. On average we saw home values across Edmonton increase by almost $2300. However, allowing for inflation, this is still a relative flat increase. It should also be noted that this increase was carried by single family sales. The condo market is currently over served and asking prices are being challenged.

Days on Market:

Days on market was also a pleasant surprise. Home buyers will most often take their

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What Would a Lawyer Say?

Many of our clients ask at what point they bring a lawyer into the process of buying or selling a home. Ask many lawyers this question and they suggest you bring them into the process as quickly as possible.

In some regards this makes sense as they are simply being protective of you the client.

What Do We Say?

Until you have a contract to purchase or sell a home, there’s really nothing to protect and as most lawyers charge by the hour, having a lawyer review every single document or consult with you on each step of the process could be expensive.

If you have chosen your REALTOR® carefully, they will help you take care of drafting a properly worded contract that gets you what you want. Lawyers sometimes forget

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If you are thinking of selling a home soon, you should start thinking about how to select a REALTOR®. 

Your first approach could be to seek out the local expert for the community in which you want your home sold. 

On the surface this makes perfect sense. Maybe the ‘local expert’ has an exclusive network of buyers looking in the area. Perhaps a ‘secret sauce’ to success. 

However, if local experts ever truly existed, the internet made them redundant years ago.

The internet and social media has completely changed the way that homes are bought and sold. 

We suggest you look for a real estate company that knows how to find ALL buyers for your home. 

A firm that employs a comprehensive home selling process and employs a team of

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Summary:

If you are in the market for a new home, this is the time to buy. There is a now a wide selection of homes available and you may be able to negotiate a significant discount.

Read the details by scrolling through the report.

Numbers Sold:

Perhaps the best news for sellers in April 2018 is that we saw 1131 homes sell. This confirms the overall size and strength of the market in Edmonton. However, this is the time when we look for sales volume to remain robust and perhaps even increase. There were 39 fewer sales than in 2017.

Days on Market:

Home buyers continue to take their time when selecting homes in April 2018. Average days on market increased by 2 days compared to the same time last year. Considering the much

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