All Blog Entries by Stuart Neal

Found 199 blog entries published by Stuart Neal.

One of the Home Buyer Advisors on my team came to me this past week and asked what I thought was a really good question.

How do I get my clients to avoid low ball offers?

Whilst its true that during the first part of the Covid 19 pandemic, our market values did drop, they have risen steadily since March and April to a point where they are now 2% HIGHER than this time last year.

And with falling inventories as the half hearted home sellers give up during the last 4 months of the year, against the back drop of strong demand from what I call the “we want to be in by Christmas crowd” I expect home prices to remain strong for the balance of the year and we may even see a peak during the last 3 months which I have witnessed occurs every year in our

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Covid 19 has impacted our market in many ways. Since March when the COVID 19 pandemic entered our lives, we have seen many potential home buyers commit what is perhaps the most fundamental mistake.

They make low ball offers. The media has been buzzing about the economy here in Edmonton and it must have convinced some home buyers that they have much more leverage to negotiate than they actually do. Fact is, home values here in Edmonton are climbing. Sales values dropped markedly in March and April. Since that time, home prices have risen steadily and are now selling for 2% MORE than this time last year.

Here are 3 potential outcomes you risk creating when you low ball:

1.  It destroys seller goodwill

Getting the seller to like your offer is

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Lago Lindo situated to the north side of Edmonton is popular with first time buyers, families and downsizers alike. We are pleased to present this exclusive listing price to sell: Ambergate Realty Advisors Listing. 

To see ALL homes for sale in Lago Lindo please click on this link. All Lago Lindo Homes Listed. 

 

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Sales prices are punching through the roof compared to the last 2 years. High sales values, combined with reduced inventory, means potential home sellers should consider entering the market now and anticipate an excellent outcome.

Sales Values

Home buyers have been snapping up homes more quickly than at any other time over the last 3 years. Average days on market so far in September is only 52 days, compared to 62 days last year and 55 days in 2018.

Days on Market


Home buyers have been snapping up homes more quickly than at any other time over the last 3 years. Average days on market so far in September is only 52 days, compared to 62 days last year and 55 days in 2018.

Sales Volume (mid month)

Last year there were around

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Situated to directly south of the University of Alberta, Queen Alexandra is one of the older communities that was once part of Strathcona. 

Today you will find lots of older homes like this one we are presenting for sale at attractive prices, but infill has become a major feature driving up average sales prices. 

Buyers moving into this area are likely to witness some healthy uplift in values as infill continues to change the nature of the neighbourhood. 

To get details on our listing please click here: Ambergate Realty Home for Sale

To see ALL Queen Alexandra single family homes for sale at the moment click here: Queen Alexandra Homes for Sale.

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 Sales prices are breaking records in Edmonton at this time. In August, homes sold for 1% more than August last year.

Sales Values

In August 2020, average sales prices were around $375,160 compared to $371,381 last year & around $375,000 in 2018. That’s a jump of 1% & prices have strengthened since March.

Days on Market

 

In August 2020 home buyers wasted no time selecting & purchasing their next home. Average days on market in August was only 50 days, compared to 62 days last year & 54 days in 2018. 

Sales Volume

 

After record breaking results in June & July we are pleased to see sales volume stay strong in August this year. Recorded sales were only 19 units down, compared to last August when 1089 sales were

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Want to be a successful and professional REALTOR®?

Remember these 5 rules and you won’t go far wrong:

1.  Show Up

The real estate business is a contact sport. Potential home buyers and home sellers expect you to be proactive when it comes to serving them, advising them and asking for their business. You will find that there is a direct relationship between your willingness to reach out, to serve, ask for commitment and your success.

2. Pay Attention

Clients expect you to pay attention and to show them that you are listening to them. When they share information take notes, challenge them if you don’t quite understand what they are saying or if you can see that they are making false assumptions. By helping clients change an incorrectly

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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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