March 2019 RSS Feed

Found 9 blog entries for March 2019.

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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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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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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The community of Nottingham in Sherwood Park continues to be one of the most popular areas for families and downsizers alike. We are particularly pleased to present this our latest home for sale on behalf of Kathryn and Joan. You can read all of the details for 7 Kirklees Place by click on this link: 7 Kirklees Place for sale.

To find details for ALL homes for sale in Sherwood Park at this time please click here: All Sherwood Park Homes for Sale.

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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 Where You Are

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,…

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Situation

Mr. Gulati and his wife Mrignayani had decided to move into the home of their daughter and family. Because the market was tougher for home sellers, Mr. Gulati decided to buy the Comfree (Purple Bricks) program because it was so inexpensive relative to what he perceived as his only other option i.e. a traditional full commission REALTOR®.

It did not take too long for Mr. Gulati to realise that there is more to selling a home than listing it on the Edmonton MLS® System. He found that he was simply not in touch with the market, that it was far too time consuming to show the home and when he did, the quality of the buyer prospects paying visits to his former home was not high.

Mr. Gulati started to look around for an alternative service…

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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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