COMING SOON! An exclusive Ambergate Realty Advisors listing. This home may not yet be on the open market. To view it first, contact us today.

To see ALL homes listed for sale in Trumpeteer click this link: ALL Homes listed.

Available with immediate possession & situated on a larger landscaped lot in the popular Trumpeter community, this triple garage, 3 bedroom 3 bathroom home would be perfect for a car enthusiast, a large family, or perhaps a professional couple that enjoy space inside & outside the home. On the main floor you will enjoy an open floor plan including a living room with cosy fireplace, a gourmet kitchen, garden doors out to the deck, a bathroom & laundry. The upper floor features a very large master with 5 piece ensuite featuring…

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Would it be smarter to buy a home now?

Or wait and perhaps buy a smaller or less attractive home later this year?

In early March, the governor of the Bank of Canada Tiff Macklem confirmed that for now, interest rates will not be going up. This is the first time a statement like that has been made in a year*.

That means the prime rate which is the rate at which your bank can borrow money to lend to you is 4.5%.

In the USA, its currently 4.75% and some investors are saying that it could go up to 5.5% by June 2023. This would happen because inflation is climbing in the USA.

A gap this big could devalue the Loonie against the US dollar, at which point the Bank of Canada may need to increase interest rates to encourage continued interest…

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The Edmonton condo market is showing signs of recovery.

Sales Prices

Whilst condos traded for less money in February 2023 when compared to 2022, prices were around $2,000 UP when compared to February 2021. And prices are around $5,000 UP in February compared to January 2023.

We expect to see condo prices improve as we hit the spring market.

Sales Volume

The steep growth in condo sales this year perhaps suggests that buyers are recognizing the hidden value of condo product when compared to single family homes.

Condos are much more affordable when compared to single family homes at the current time.

I would expect that this growth curve will continue into 2023.

Days on Market

Condos sold in only 63 days on average…

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The February the market delivered a solid performance.

Sales Prices


In February 2023, average sales prices were around $439.000, down on 2022, but around $8,000 UP when compared to February 2021. So far this year, values have been flat, but we expect that to change.

Sales Volume

Don’t let this graph fool you. January and February 2023 sales volumes are at pre Covid norms. We expect sales volume to climb in March, as we enter the traditional spring market.

Days on Market

Average days on market in February 2023 was 52 compared to 40 last year and 46 in 2021. This may suggest a little hesitancy on the part of home buyers, perhaps in light of interest rate increases, but really nothing to worry about.

Supply

We…

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Apart from getting out of a rental, most people buy homes to achieve one or more of the following goals.

To move to a new area or away from one.

To buy a bigger home than the one they have now.

To buy a smaller home than the one they have now.

But, for you to really get to understand your client well and to understand their overall situation and underlying motivations you need to ask great questions.

On my team I teach advisors to ask questions around the following areas:

FORD

Family – how many members. Is the family getting bigger or smaller?

Occupation – Does proximity to work matter? For some the address or style of home conveys status.

Recreation – What do they like to do when they are not working? Are the kids in sports…

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Under normal circumstances its reasonably straightforward. If possible, find enough comparables and price just above the average, median or most amount paid in that community or neighborhood.

This year it’s not so easy. The spring 2022 market exceeded all reasonable expectations in terms of sales volume and pricing. And spring 2021 was also a little different too. That was the first year we saw a flight toward single family housing due to Covid-19 concerns.

So how should you price this year? Take a hard look at your current competition. Ask your REALTOR® to take to see the homes that you will be competing against.

Decide where on the shopping list of homes for your area you would like to appear. Do you want to be on the top of the list or the…

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The home and condo resale market is proving to be an interesting place so far this year. Sales volume is way down when compared to last year or the year before that. However, prices are holding. Lets talk about 3 influences in the market that you need to be aware of.

First Prediction – Interest Rates

Interest rates will be coming down as the year matures.

The overreaching goal of the bank of Canada is to reduce the overnight rate as the year progresses.

The Bank of Canada has increased overnight interest rate several times since early last year from a record low of .25% last year to 4.5% in January 2023 according to TD Bank. This was to combat inflation across the economy that had crept up to 40-year record highs. According to the bank the…

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In January 2023 I had the pleasure of sitting down with Ilia Kogan the founder and President of Caliber Master Builder and his Production and Client Care Manager Sandra Schrempp.

Ilia started his career 32 years ago with another company where they focused on building multi-family homes.

Establishing Caliber Master Builders around 20 years ago was a natural progression for him and Ilia was please to confirm that they have now built over 1000 homes.

I asked Sandra and Ilia what would distinguish Caliber Master Builders from other service providers and this is what I learned:

1. If you are going to select your own building site, the team at Caliber can help you to choose the best possible site for your needs. They can also advise on the…

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COMING SOON! An exclusive Ambergate Realty Advisors listing. This home may not yet be on the open market. To view it first, contact us today.

Available with immediate possession & situated in the newer community of Stillwater, this charming 3 bedroom, 3 bathroom would be perfect for first time home buyers or a professional couple. On the main floor you will enjoy a larger gourmet kitchen with stainless appliances, living area & dining area. A handy 2 piece bathroom, walk in pantry & mudroom completes this floor. The upper floor offers a generous ‘away’ room, a large master bedroom featuring a 3 piece ensuite plus his & hers closets. A laundry room, a family bathroom & 2 other good sized bedrooms completes this floor. The basement has larger windows…

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