All Blog Entries by Stuart Neal

Found 54 blog entries published by Stuart Neal.

If you have lived in your home for several decades, the thought of selling and downsizing into a smaller more suitable home can be daunting.

Like most things in life it helps if you can break the problem down into manageable pieces. It also helps if you can start to sort your material possessions into those things that you must keep for practical and emotional reasons, which possessions you could do without, or no longer need etc.

However, trying to do this alone can be emotionally draining and time consuming. Some folks we know never got around to it and subsequently were not successful in downsizing ever. Why not get some help?

Lynn Neufeld has helped many people who are downsizing with the orderly disposal of possessions, de cluttering and

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If you are aged 50 or over, you might be thinking about where you want to make your home as you age. For many people, where they live at 65 years of age is where they settle, for as long as they can live independently. Does this sound like your plan?

However, we see many people make a number of choices between the ages of 50 and 65 years of age. Here are some scenarios:

Stay Put

Perhaps your existing home is just right. For most people thinking longer term, this means few stairs, a master bedroom on the main floor and not too big. If your existing home meets your basic criteria and can be modified as you age, we suggest you don’t move. Here’s a link you may find helpful: 3 Ways to Stay in Your Home

Move Up

If finances allow, we see some

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Summary:

The big news story here is that excess inventory is no more. There is now LESS inventory for sale than this time last year and days on market remains stable. Unless lots of new condo units come on stream this year, we expect values will start to recover by the end of the year.

Month End Inventory:

Over the last 2 years we have witnessed a large excess of inventory. That situation we appears to have been remedied. At the end of February 2019 there were only 1938 condo units for sale across Edmonton or 564 LESS units than this time last year. If this pattern continues, then the condo market is on the verge of a turnaround in Edmonton.

Numbers Sold:

217 condos sold in February 2019 compared to 247 units last year, a

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Summary:

For single family homes, sales values are still down, but sales volume is about the same as last year. Now that excess inventory has essentially disappeared, we can expect prices to rise soon.

Numbers Sold:

In total, 502 single family homes sold in Edmonton during February 2019. This compares well with February 2018 when 543 homes sold. A difference of only 41 units. The confirms how robust the Edmonton market is and that when it comes to residential real estate, the market will to a great extent ‘just keep chugging’.

Month End Inventory

Don’t let this graph fool you. At the end of February the excess inventory that we have faced this past 18 months was DEPLETED. At the end of February 2019 there was 3296 homes

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At some point most of us consider our housing options. Should you rent or buy? That depends on your circumstances. For many downsizers renting makes sense. For single people or folks just starting out its also an attractive option. 

First let’s consider the pros and cons of renting.

Pros

  1. Short term fixed costs. You pay the rent and the landlord worries about the mortgage, maintenance and taxes.

  2. Low commitment. Most leases run for one year and in some cases two years or more.

  3. Easy qualification. Provided you have income and a good credit record most landlords will welcome you with open arms.

Cons

  1. Uncertainty. You could be moving in 12 months. If your lease is for only 12 months the landlord has the

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These days shopping for home listings is easy. As you know, there are websites and apps everywhere. Or you can drive around neighborhoods that you like and find for sale signs. Surely it would make sense just to call the listing REALTOR® and go see the home. Who needs a REALTOR® these days?

Not so fast is what we advise. There are some solid reasons for you to find one competent REALTOR® to help you.

1.  A Good REALTOR® Knows More Than You Do

How many homes have you bought in your lifetime? When was the last time you purchased a home? Most people have only ever purchased one or two homes. For many, it’s been decades since they last purchased. Don’t be amateur. A good REALTOR® helps people purchase every day. A good REALTOR® will have helped

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A Poem for Downsizers

The process of downsizing can be an exciting time. It can also be a time for contemplation and worry about what lies ahead. John Tidridge has written a series of poems that describe his feelings and thoughts as Maureen and he go through the moving process.

Griesbach-1

Years ago, it would seem, we came across Griesbach

Army Barracks all trim and green,

Canadian army;

An accident occurs, on base, an army base.

I am sent and there meet a young police officer, RCMP.

I am an experienced City Officer, out of my jurisdiction.

He is young, I help him out, that’s what we do.

It’s Griesbach.

Jurisdictions change and now the camp is ‘City’.

I am sent on a call, not easy to forget.

A young man has

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Perhaps you are sitting on the side lines wondering if you should buy a home now or later. Here are 3 reasons why you should do it now.

1.  More Choice

At the end of January 2019 there was around 400 MORE single family homes for sale than this time last year. If you want to be picky in selecting your next home this could be the time to shop around.

2.  Lower Prices

At the end of January 2019 single family homes sold on average for around $390,000 DOWN by 11% over the same time last year. Condos sold for about 6% LESS than in January 2018 for an average price of $220,000.

You should also know that in most years, prices climb until about July when they start to soften a little bit. These low prices will not continue.

3.  Lower Interest

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Summary:

Compared to last January, this past month did not project well. Around 370 homes sold. However, they took longer to sell, realized lower values and excess inventory is up. However, this may not matter. Read our outlook for details.

Numbers Sold:

On total just over 370 single family homes sold in Edmonton during January 2019. Unfortunately, this does not compare well with 2018 when almost 440 units sold.

Sales Values:

Home buyers in January 2019 were able to press their advantage and secure significant discounts when compared to last year securing (on average) about an 11% discount. One month is not enough to indicate a longer-term trend. For example, for the whole of 2018 prices dropped by about 1% compared to 2017.

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Summary:

Is the Edmonton condo market turning around? Fewer days on market and reduced inventory may inject some life into the market later in 2019. Read the details for January here.

Days on Market:

Condo buyers in January this year seemed to act with some confidence, snapping up units for sale in only 91 days on average compared to 93 days last year.

Month End Inventory

At the end of January 2019 there was almost 350 FEWER units for sale when compared to January 2018. This may represent the light at the end of the tunnel for sellers as the market suffered from a chronic over supply last year.

However, based on current demand the 1845 units still for sale at the end of January represents a 10-month supply.

Numbers Sold:

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