Stuart Neal's Real Estate Blog - Stuart Neal

How Many Homes Should You See Before Buying One?

How Many Homes Should You See Before Buying One?

In the era before the internet, homebuyers often had to visit 20 to 30 homes to find one they loved. But in 2023, the process has evolved.

Based on our experience, today's buyers spend a few months researching online and exploring neighborhoods. Typically, they only view 5 to 10 homes before making a purchase decision.

Regarding the time frame, if you're clear about what you want, there's a 60% chance of buying on the first day out or a 50% chance on the second day. If it takes longer, that's okay; it could signal a need for re-evaluation or a chat with your REALTOR® about other options.

To shop for ALL homes in the metro Edmonton area please go to our website www.AmbergateHomes.ca.

About the…

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When is the BEST time to view homes for sale?

When is the BEST time to view homes for sale?

If you are like most people, you work during the day.

Therefore, it would seem reasonable to go and look at homes for sale in the evenings or weekends.

But what is the best time?

When other folks are not competing with you for an appointment.

Daytime is better than evenings. Monday, Tuesday, Thursday, and Fridays are the smartest days to shop…

Avoid weekends if possible!

To shop for ALL homes in the metro Edmonton area please go to our website www.AmbergateHomes.ca.

About the author:

You can read more about the author of this blog by clicking this link – Meet Stuart Neal

Learn how you can make the rights choices when you buy or sell a home SUBSCRIBE to Stuart Neal – Real…

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August Condo Market Report

August Condo Market Report

The Edmonton condo market stays stable. Prices are moderate and sales volume continues to grow.

Sales Prices

Condo sales prices climbed slightly for August 2023 at an average price of around $221,000. This is 2% up over the same month last year.

Sales Volume

There were almost 572 condos sold in August compared to less than 410 units sold in August 2022. This represents an increase in volume of 40 %. This is the fourth consecutive month of volume sales growth. Perhaps this points to a rebound in condo interest especially as single-family values continue to lift.

Days on Market

Condos sold for an average days on market of only 51 days. This is slightly quicker than the previous 2 years at 54…

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Whats Happening to Interest Rates in September 2023?

Whats Happening to Interest Rates in September 2023?

Yesterday the Bank of Canada elected to hold the ‘overnight rate’ to 5 ¼ percent.

This is great news for home sellers and buyers.

Buyers can enter the market with certainty and confidence.

Sellers should consider listing their homes for sale now knowing the ‘pre-Christmas movers’ are about to get active.

If you need our help now we are standing by.

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August Single Family Market Report

August Single Family Market Report

Single family home prices stay higher in August.

Sales Prices

Sales prices continue to climb. In August 2023, average sales prices settled at around $473,000 down slightly on the month, before but $12,000 more than August 2022. This might have been driven by the possibility of interest rate increases in September, combined with lower inventory levels than normal.

Sales Volume

Sales volume over last year was up by 33%. That’s right, fully a third more homes sold when compared to August 2022. Around 1030 homes sold in August 2023 compared to 775 homes in August 2022. 

Days on Market

Average days on market in August 2023 was 43 days. This is longer than the previous 2 years. The current pace…

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The 5 Chemicals Inside Your Clients & How to Manage Them

The 5 Chemicals Inside Your Clients & How to Manage Them

If you get a chance, read at least the first section of Simon Sinek’s book ‘Leaders Eat Last’. He’s essentially talking about work culture and how to create it.

However, his analysis of the 5 chemicals inside our bodies also lends itself well to understanding how our clients think and behave.

Here are my thoughts.

Your client’s moods and actions are managed by 5 chemicals that we all have flowing around our bodies.

If you understand what they are, what they do and how they will make your client feel and act, you can provide a better experience and deliver a better outcome to your clients as well as relieving yourself of a lot of needless frustration.

Let’s talk about them. The…

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July Condo Market Report

July Condo Market Report

The Edmonton condo market stays stable. Prices are moderate and sales volume is healthy.

Sales Prices

Condo sales prices softened slightly for July 2023 at an average price of around $216,000. This is just below the value for June. I would describe sales values as flat and notably trending lower than for the previous 2 years.

Sales Volume

There were almost 500 condos sold in July compared to less than 450 units sold in July 2022.  Condo sales volume has traded comfortably above sales volume for last year and the year before for the last 3 months. Perhaps this points to a rebound in condo interest especially as single-family values continue to lift.

Days on Market

For the second month running condos…

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July Single Family Market Report

July Single Family Market Report

Single family home prices lifted in July, in line with last year’s values.

Sales Prices

In July 2023, average sales prices settled at around $485,000 which is around $17,000 more than June 2023. This might be driven by the possibility of interest rate increases in September, combined with lower inventory levels than normal.

Sales Volume

Over 900 single family homes sold in July 2023, which is around the same number as in July 2022. Our market should track or surpass last year’s sales figures, inventory levels allowing. 

Days on Market

Average days on market in July 2023 was 43 days. This is longer than the previous 2 years. The current pace is more like we would expect to see in Edmonton.…

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6 Ways to Prepare Your Buyer for their Home Inspection

6 Ways to Prepare Your Buyer for their Home Inspection

Its during the inspection period that many newer agents lose their client and their transaction.

You have invested several evenings and weekends showing your client homes.

Finally, they found one they loved and you worked hard to negotiate and paper a deal with the sellers agent.

Have you ever considered that your clients go through a number of emotional waves?

When they are out shopping with you, their mood will normally be light.

They will get very excited once you tell them their offer has been accepted. Afterward however, they will go into a self-doubt mode and you need to be ready for that.

Their mood will start to lift again as the day for home inspection arrives.

…

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3 Things to Know About Interest Rates in July 2023

3 Things to Know About Interest Rates in July 2023

On July 12th 2023, the Bank of Canada increased the bank rate to five and one quarter percent as part of its quantitative tightening policy. Because our economy has been performing well inflation has not been fully controlled.

What does this mean to you as a potential home buyer?

1. Approved Already

If you are already approved and have secured a commitment letter from you lender you have the balance of approval term (usually 60 to 90 days ) to find a home at todays prices.

2. Not Approved Yet

You would be well advised to get yourself approved and start to shop in earnest whilst interest rates are relatively low and whilst home prices around Edmonton are softer. We usually see home and…

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