Ambergate Edmonton Real Estate Blog

Each year the Realtors® Association of Edmonton gathers together a group of economic experts to share their thoughts on where we are headed for the next 12 months in terms of: the economy, world events and at a more local level, how this will effect the housing market for our clients.

This year’s speakers included: Steve Sedgwick the Chair of the Realtors® Association of Edmonton, Todd Hirsch - Chief Economist, ATB Financial, John Rose – Chief Economist, City of Edmonton and Christina Butchart – Senior Market Analyst, Canada Mortgage and Housing Corporation (CMHC).

Here is the list of their highlights and predictions for our market:

1. Total sales for the Edmonton market will drop by 2%. Down from 17,298 homes and condos sold in 2015 to around

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Are you thinking of selling a house or condo in the metro Edmonton area this year? You might want to consider doing it now.

Here’s why.

1. Less Competition – Most home sellers fall into the trap of waiting until Spring. These sellers are going to be in competition with a lot of other folks who will be putting their up homes onto the market at the same time. Be smart. Do it now and you might have the only home for sale in your neighborhood. This is a perfect opportunity to sell quickly and for full market value.

2. Quality Buyers – Buyers looking now are serious. Usually, they are under some pressure to select a home and buy it quickly. If you can offer a quick possession, we can often negotiate a premium price for you.

3. You Save Time -

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Situation

Chris was wanting to leave town and get back to his family in British Columbia. He had tried listing with a one or two traditional REALTORS® but were not able to sell the house in Kiniski Gardens for him. Chris asked Stuart Neal the broker of Ambergate Realty Advisors to meet with him for a consultation. Together Chris and Stuart agreed on a course of action that would best prepare the home for sale. They also agreed on how they would ‘position’ the home in the market, so that the house would sell in a timely fashion.

Result

We generated 4 separate offers, we negotiated full market value and saved Chris several thousand dollars in commissions.

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Most weekends during the selling season it’s possible to drive through some of the more popular communities in the metro Edmonton area and see Open House signs every other block.

I often wonder why. Open Houses are NOT an effective way of selling homes. Why? Technology has made it extremely easy to obtain almost perfect exposure to market.

According to an annual survey conducted by the National Association of Realtors (NAR) in 2013, buyers found their home by using the following methods:

  • Found Online – 43%
  • Buyer Agents – 33%
  • Drive by a Yard Sign – 9%
  • Social Media etc. – 13%

If a seller intelligently employs this information, they will achieve around 98% market exposure. Open Houses do not even factor. Why do some real estate

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Stuart was great to deal with! He guided me well through the process and gave me lots of encouragement. I had expected not to sell it in the fall, but he was encouraged me to keep it listed which was what allowed it to sell when a lot of people gave up and took theirs off the market. It sold in six months for 98% of the list price, which told me that list price was fair and Stuart knows the market well.

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Want to sell your home or condo in the metro Edmonton area? Don’t fall into the trap of complacency. At this time of the year, literally hundreds of home sellers in our market quietly witness outstanding success and sell for full market value. Here’s why:

  1. Most sellers fall into the trap of thinking this a bad time to sell in the Edmonton area and they will take their homes off the market or wait to put them on the market. The result? Less competition for you.
  2. Buyers who are looking at this time of the year are serious. They might pay you a premium price if they can move in quickly.
  3. Home values go up. Based on last year’s stats, house prices in the metro Edmonton area actually went up in November due to high demand and scarcity of supply.
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Did you know that there is a honeymoon period when selling a house or condo?

In Edmonton today, creating market exposure for a home is the easy part. Over 90% of buyers are using the internet to search for a home. The internet really is your friend when advertising your metro Edmonton home for sale.

When your home listing first hits the market, all eyes will be on it. If you are positioned correctly, you should expect to see a dozen or more buyer candidates in the first 2 weeks and an offer, especially at peak home and condo selling times such as now.

It’s during the first 2 weeks that home buyers will be under extreme pressure to beat out other buyers and make really strong proposals to you.

What happens after that first 2 weeks? The

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In spite of the market going down while my property was listed and several offers to match this trend, Stuart Neal with Ambergate Realty Advisors had excellent advice on how to manage these offers. In the end, we accepted an offer very close to the final listing price.

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I get to look inside a lot of houses in the metro Edmonton area. I’m always amazed by how little preparation some home sellers make before we show their house. We think that it’s the job of a good Realtor® to point these things out. I wonder why they don’t?

Here is our preparation check list. We think that home and condo sellers all over the world will benefit from using this simple checklist, not just those we serve in the metro Edmonton market, here in Alberta.

1. Wash the front door – and/or repaint it - Your buyer will have created an impression about your home before they even take off their shoes.

2. Wash the windows – It’s amazing how good a home looks when the windows sparkle.

3. Close your closet doors – Make your rooms look clean

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It’s all about price! It’s all about price!

We find that too many Realtors® in the metro Edmonton market and therefore too many consumers fixate on pricing when attempting to sell a house or condo. This is far too simplistic.

At Ambergate Advisors we have identified 8 key components that make up your ‘value proposition’. And if you correctly focus on these components, you will positively affect the price you ultimately receive. You will get more money! Some of these components that we describe as ‘goodies’ are discussed in the next few paragraphs. To find out what all 8 components are please call us.

What is the difference between price and value?

Think of it this way.

  • Price is the amount of money a buyer is prepared to give up, to
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