The resale market especially for single family homes is HOT. If you are in the market for a home this year, you may have to change your expectations and behavior.

Perhaps the first thing you should do is give up the idea of buying a home with a big discount. Condos are an exception to this rule.

Based on results for the first quarter of this year, homes across Edmonton are selling for more 7% MORE than during the first quarter of last year. They are also selling for more than the first quarter of 2019.

Chances are high that the best homes are going to sell in multiple offer situations.

How can you win? Here are some ideas:

1. Construct an offer with terms and a possession date that will be acceptable to the seller. Ask your REALTOR® to…

If you have been following the housing market these past few months, you have probably started to realize that things have been hotting up and especially so in the single-family market. The market tanked back in March 2020 due to the Covid pandemic, but since that time the market for resale homes and in particular single-family homes, has strengthened month on month. This is especially true for the first quarter of 2021. At the time of writing, (March 26th, 2021) sales volume across Edmonton is around 30% UP compared to the first quarter of 2021, and sales prices are 7% UP, based on a blended first quarter average and 13% UP in March, compared to March of last year, (which is when the effect of Covid really kicked in).

If like most people you…

It’s March 3rd 2021 and many people are wondering if the Edmonton Alberta home sales market is favoring buyers or sellers right now?

If we look at the big picture its would seem that it’s a sellers market.

Sales volume is up in Edmonton by a whopping 19% over this time last year.

Sales prices are 4% UP.

Its when we look at inventory levels that things even really interesting.

Single family inventory is down by around 650 units (13%) which should lead to higher prices. However, condo units for sale are up by 227 units (12%). Covid 19 has made condo living less attractive, at least in the short term and this combined with a glut of inventory impact prices and I expect to see condo sales prices drop over the next few months.

So, the…

I have noticed that home sellers often demonstrate recognizable negotiation styles when attempting to sell a home. Sometimes the home sellers will use one style throughout the process. Or they may switch things up a bit. They might favour one particular style, but become a bit of a nibbler at the end.

When you are selecting a home to purchase, see if you can recognize their style. Here are the 5 behavioral styles.

1.  Win / Lose

Usually this means that they win and the other party i.e., you, loses. You will recognize this style if the home seller shows no concern for your objectives, aspirations, or your feelings. It has been my experience that home sellers favouring this style, are rarely successful. You might also want to look at their…

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…

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…

Homeowners Associations (HOA) which are usually set up by the land developer before they are hand off to a board of community homeowners have become a key feature in many upper end neighbourhoods around metro Edmonton. We have found that many of our clients still don’t understand what they are for. Let’s explore the pros and cons:

Pros

1.     Your neighbourhood will always look great. HOA’s impose architectural and maintenance standards on everyone. That means that there are rules in place that prevent your neighbor from painting their home an outlandish colour or failing to keep up with maintenance. With respect to general community maintenance the grass in common areas and the entrance will always be nicely kept. In Edmonton, the general care…

6 Reasons to Pay Condo Fees

Many clients we work with ask us not to show them condos. Once we drill down as to why they feel this way, it is often because they don’t understand the value of paying into a condo reserve fund. In many cases, we find that once they understand what they are actually buying, selecting a condo for a home actually becomes their preference.

1. No Need to Worry About External Maintenance, Snow Clearing & Yard Work

Apart from putting some money into a slush fund for longer term maintenance, or unforeseen circumstances, condo fees pay for essential homeowner services including insurance, snow clearing, gardening and in many cases onsite management.

2. No Need to Save Extra

If you are not paying condo fees, you had…

During the Covid 19 health crisis its especially important that you watch for the latest trends as our market reacts to the crisis. Each week we will publish a market report for each of the main metro Edmonton markets for your review.

Here is our report for the last 7 days. Week ending June 12th, 2020.

For more details and specific information about the communities that interest you, please call the office at 780-760-2014 or email us…

During the Covid 19 health crisis its especially important that you watch for the latest trends as our market reacts to the crisis. Each week we will publish a market report for each of the main metro Edmonton markets for your review.

Here is our report for the last 7 days. Week ending June 5th, 2020.

For more details and specific information about the communities that interest you, please call the office at 780-760-2014 or email us…