August 2020

Found 7 blog entries for August 2020.

1. Earn Your Real Estate License. Working as a REALTOR® in the re-sale market (used homes) and assisting buyers who wish to purchase from builders is regulated in Alberta and you must be licensed.

There is a number of steps to this process.

a. You will need to check that you are eligible to be licensed with RECA (Real Estate Council of Alberta).

b. You will need to complete your studies. At the current time RECA provides all training. As of this moment there is 3 modules you must complete to be eligible to trade in residential real estate. Most folks can get this done in 3 to 6 months if they really work har

c. You must pass an exam to test your knowledge. At the present moment, RECA allows student 18 months to get to this stage.

2. You

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Are you trying to sell your home? Where are you in the pricing pond?

If we think of the market like a pond, when a listing is new, it flows into the pond from the left and moves across the surface of the pond. If the listing is positioned properly for the market and if the seller is realistic, the home will sell in short order and this case will ‘flow out’ of the pond to the right.

If your home is overpriced, it may still get showings, but they will slow down as the listing starts to sink into the middle of the pond. Your home is becoming overshadowed by more recent, more interesting and better priced homes flowing into the top layer above it.

Over time, (perhaps 75 days plus in our market) your home will sink into the ‘stagnant mass’.

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Many people will be surprised to learn that prices across Edmonton are around the same as last year and the year before. Since sales values slumped in March due to Covid 19, we have seen a steady recovery, but will it be sustained?

Sales Values

So far this August, average sales prices have been around $370,000 compared to $371,000 last year and around $375,000 in 2018. Prices have strengthened since March and we anticipate that they will remain stable for the balance of this year.

Days on Market

Home buyers have purchased quickly. Average days on market so far in August is only 54 days, compared to 62 days last year and 54 days in 2018.

Sales Volume

Last year there were around 1090 sales registered in August and here we

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Summerwood has emerged as one of the more affordable family friendly communities in Sherwood Park. We are pleased to present his lovely clean home at number 411 41 Summerwood Boulevard. Click here to see the details: Exclusive Ambergate Listing. 

To view ALL homes in Summerwood at this time please click on this link: ALL Summerwood Homes for Sale.

 

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Congratulations!

You have decided to buy a home. It’s exciting isn’t it? You are now scouring several websites for listings. You have a good idea of what you want to buy, where you want to live & how much you want to spend

All you need now is to go out & look at some homes. Right? How about wrong?

Sometimes you have to slow down to go fast!

We have helped many home buyers through their journey & in the first instance we suggest you engage a REALTOR® / Advisor to help you complete a strategy session.

What does this mean?

It means taking a step back. It means acknowledging what you already think you want, but it also means exploring other home options and most importantly sources of homes.

Our 10 Step Home Buying Process includes a

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Lakeland Ridge is an especially popular community in Sherwood Park. We are pleased to present this well presented and well-priced townhome condo for sale. See the details here: 4 70 Cavan Road, Sherwood Park. 

To sell ALL homes for sale in Lakeland Ridge please click this link: All Lakeland Ridge Homes for Sale.

 

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July home sales surged and records were broken. For the second month running the number of homes sales in July easily surpassed the number of homes sold in July 2019 and July 2018.

1461 homes sold in July 2020 compared to 1286 in 2019 and only 1127 homes sold in 2018.

Home buyers were also snapping up homes quickly. Average days on market in July 2020 was only 53 days compared to 54 days in 2019.

Unfortunately, sales values continue to show disappointing results, (for home sellers that is). For home buyers the Covid 19 crisis has provided a unique one off opportunity to purchase at a discount.

The average price paid in July 2020 was $367,546 compared to $378.740 in 2019, a difference of 3%.

However, since the slump in March caused

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