Edmonton Real Estate Blog

Here’s a perfect Edmonton property for Real Estate Investors, Professional Couples and Students.

Why, you ask? Aside from the bargain price of only $315,000, this 2 bedrooms, 2 bathrooms home offers 845 sq ft of pure living space with brand new fixtures and furnishings.

The owners installed a brand new insulated brick and stucco, modern windows, new entry doors and roof. The kitchen area is dazzling with its updated appliances and cabinetry! Your future living room retained its classic charm with its old hardwood and electric fireplace.

Isn’t that wonderful? This Edmonton home will bring the best bang for your buck!

WELCOME, MY FRIEND!

Check out the complete details here: 7409 112 AVENUE, VIRGINIA PARK, EDMONTON HOUSE FOR SALE

Call me to view @ 780-995-6520

For a complete list of available Edmonton homes for sale, do check out my new Edmonton MLS listings.

Follow me on Instagram @SergeBourgoin and get a first hand view on how I’m helping Edmonton home buyers and sellers.

It’s one good way to make money, heck, some people even make it a living! Like most businesses, flipping houses takes time and dedication. Apparently, now is one of the best time to flip real estate properties in Edmonton. The industry is on an upward trajectory and it’s projected to last for a couple of more years.

Here at Team Leading Edge, we gathered some of the ways to do this effectively, so you would not waste money. Take note and good luck!

1. NO FAMILY

First and foremost, avoid at all cost involving your family. It doesn’t matter if your family is a contractor, it’s never a good idea to mix family with business. Utilize third-party contractors.

2. CONTRACTORS

Speaking of contractors, shop around for contractors who would make the repairs for the property and always remember to inspect it as often as possible when the project is being done. Interpretation errors are one of the major risks that you would encounter in this business so from the very start it is best to make sure you provide crystal clear terms of what you are expecting them to accomplish.

3. MAIN RECORDS

Diligence is key, make sure to store each and every receipt or bill you receive from your contractors.

4. LIGHTING

Great lighting can greatly increase the chances of having the house sold from the very first showing so utilize bright lights!

5. FIRST IMPRESSIONS LAST

The truth is, buyers would start making their decisions once they stepped in front of the door, so always ensure to “Wow” your buyers from the moment they lay their eyes on that door.

6. THE ESSENTIALS

Double check if the gas lines, plumbing and electricity are working. The keyword there is “double check”. You wouldn’t want to embarrass yourself if you tried to switch on the light and it fails.

7. LASTLY

Last but not least, hire professionals to help you sell the property quickly! Team Leading Edge, sells houses for breakfast. As a matter of fact, the team have been awarded once AGAIN as one of the top 50 RE/MAX real estate teams in Western Canada for the month of October based on paid out commissions-that speaks volumes to the quality of service the team would bring to your business.

Check out the available homes for sale in Edmonton that you could very well flip, our Edmonton MLS listings are updated in real time so you could be sure to get instant access to the real estate market.

This morning I received an interesting article from Doug Bodtcher of Investors Group Financial Services Inc. Entitled “Achieve investment goals with less volatility”, articles like these is best shared to everyone.

While the city of Edmonton is enjoying a strong economic growth, it doesn’t mean you have to take higher risks to gain more profit. An excerpt from the article “The trade-off between risk and return is one of the most important decisions that an investor has to make.”

He further adds “A low volatility strategy is designed to produce less risk than the broad market. It allows investors to participate in positive market conditions and potentially shelters their investment from excessive market volatility.”

Subscribe to our blog and download complete article here.

The more investment knowledge you have, the better chances you’ll get in earning more money.

For real estate investments, do check out our Edmonton MLS listings. Updated daily for your convenience.

Great that you want to capitalize on the real estate growth of Edmonton. Having an investment in rental properties is one of the best things you could have in today’s economic environment.
Here at Team Leading Edge, we gathered the 5 simple things you can do to get those great tenants and start earning passive income, fast!

1.    FIRST IMPRESSIONS LAST-TAKE CARE OF THE YARD!

Yes, first impressions do last and it speaks true to your home. If you want great tenants, you must present a great home. Start with your front yard as it is the very first thing that potential tenants would see. Do all the necessary stuff to make it look awesome; mow, trim, prune. Just remember, the things you did at the front, you must also do at the back.

No need to drop a big amount of cash just to make the front and back yard look beautiful. Minor adjustments would do the trick such as installing new light fixtures and painting the mailbox.
2.    SPEAKING OF PAINT

Since the home will be used for rental, no need to paint in your favorites colors. Simply go with neutral colors of different shades in different rooms. Rule of thumb is to make the interior color “warm” to its potential tenants.
3.    TIDY UP MY FRIEND

Time for you to remove clutter and all personal things inside the house. We know it sounds obvious but it won’t hurt to remind you again to clean, scrub and dust every nook and cranny of the house. The more storage and floor space you create, the closer you get to bagging that rental deal.
4.    THE KITCHEN

The kitchen is the heart of the home, it’s where the lady of the house makes her magic happen so try to pay special attention to this one. Assuming you have “clean, scrub and dust” every nook and cranny, then you’re already safe. Time to move on to the last one.
5.    THE BATHROOM

It’s basically the second place where dirt accumulates all the time, mold in particular is one of the nastiest things that may inhabit this part of the house. Make sure to remove all molds from the grout. The easiest and cheapest way to remove this is through the help of lemon juice. (apply, scrub, scrub, apply, scrub, rinse, you’re done!)

Double check toilet seats if it needs replacements and also check for grime and scum in the shower area (prepare yourself to do some scrubbing again).
Lastly, make the new tenants feel beautiful with a newly washed and sparking clean bathroom mirror.

There you have it, a few minor tweaks and you’re all set to close the deal and receive that income stream.
Do check out our Edmonton MLS for all the available investment properties for sale in the Edmonton and nearby area.

Today, I received a great email from Serge in regards to an Alberta Real Estate Association article entitled “Condo Commentary: Do You Own That Window?”

Basically, it was answering the question on how to tell if the exterior of the windows (and doors) are part of the condominium unit or not.

Going to the point, the article informs the readers that “Before September 1, 2000, exterior doors and windows were considered to be part of the unit.  After that date, exterior doors and windows became part of the common property.  However, a corporation registered prior to September 1, 2000 had until September 1, 2002, to register a special resolution to amend the plan so that these became part of the individual units again.  This can mean that some condominiums may have windows and doors that are part of the unit and not the common area.”

This got my train of thought going. Since Alberta’s economy is poised to be one of the best in Canada this year and in 2015 as reported by RBC, and that Edmonton’s local government have reported an increase in growth population by 7.4%, the probability of people buying condominiums, either as a home or an investment would increase.

With this in mind, I believe it is apt to share with you this 5 simple things to consider when buying a condominium. Take this to heart and you’ll be at the right side of things. Please feel free to add or share your thoughts in our comment section below.

1. LOCATION, LOCATION, YES-LOCATION: This is the golden rule of real estate and this rings true wherever you are in the world. The neighborhood and location of the condominium hinges on this simple fact. Remember that the location is one of the main contributing factors in successfully renting out or reselling the property in the future-unless you prefer to live out your life in there, which I would highly doubt.
2. RULES, RULES, RULES: It holds so much importance that I need to repeat it thrice. A thorough review of the rights and restrictions in the condominium bylaws is very much needed. Read and understand the rules as some or most of it might affect you or your future rental business. Here’s a good example. My condominium doesn’t allow pets and I handle several units for rent here so when I got two inquiries from potential tenants, I was painfully disappointed (in the business side) that they have trained house dogs. Trained or not, pets aren’t allowed so that situation basically ruined my business-at least for those two.
3. FEES, PAYMENTS, DUES: Those three synonyms mean the same thing, monthly bill. No matter where you go, condominiums always charge a certain fee for the maintenance of the common areas and the overall building.
   It’s important to know what the condominium fee is. Something that should ring your bells and alarms is the low condominium fee. It’s not always good. You may want to find out why the fee is low, assuming you followed what I wrote in number one.
4. PLAN OUT: Like everything we do in life, buying a condominium should be planned out. Would you use it as a home or will it be a rental property? If it’s the latter, would you manage it yourself or will you hire a property manager? It’s all about risk management. If you have things well planned out, the probability of losing money would be minimal or even non-existent.
5. RENTAL PROPERTY: I just want to include this in here. If you plan to live in the condominium, then the first four steps would cover you. But if you’re planning to make this a serious investment, read on. Keep in mind that it is important to be strict in yourself when conducting due diligence for your potential condominium. Inquire about the experiences of the present tenants as most of the time, this would give you a good glimpse of what it’s really like living in the building-the things that the paperwork won’t reveal. And speaking of paperwork, you may need a real estate lawyer to pore over the condominium association’s rental lease.Lastly, a simple way to see if the condominium is good for rental is to check if there are a good number of owners renting out their units. This is because the bylaws could be amended to prohibit renting in the future-if there are a good number of owners renting out their units, then the chances of that happening would be slim-again, part of your risk-management.

Stick with this 5 simple things and you’ll be on your way to having a great condominium property.

To make sure you don’t make any mistakes in the process, it is truly advisable to seek the help of professional Realtors. Team Leading Edge is an experienced team that have sold condominiums in Edmonton. Recently awarded as one of the Top 30 RE/MAX Real Estate Teams in Western Canada, the team is made up of competent Realtors that could and would help you in every step of the buying process.

Check out all the available condominiums for sale in Edmonton through our MLS real estate listings. It is updated daily so you will get superb listings to choose from and don’t hesitate to call Team Leading Edge anytime to get you started on that future property of yours.

When saving, greater returns, even if accompanied by greater volatility, can reduce the amount an investor has to save. Saving $5,000 per year with no income will take 20 years to reach $100,000. A moderate investor can, on average, reach double that amount by investing the same $5,000 mid-year for the same 20 years.

Feel free to contact me or visit my website for more information.

Douglas J. Bodtcher  
Investors Group Financial Services Inc.
780-448-1988 ext. 284
Douglas.Bodtcher@investorsgroup.com

Homeowners who decide they’re ready to become move-up buyers face a chicken-or-egg dilemma: Should they sell their current home first and then buy another, or buy a new one and then sell? The answer depends on several factors, including your local market conditions, your financing options and your feelings about potentially moving twice if you sell your home before your next residence is available.

Market Conditions

Before you blithely assume that your real estate market is a buyer’s market or a seller’s market, you need to realize that you must be very specific about the market for your particular neighborhood, the style of home you own, and the price range for your property. In addition, you need to assess the availability of homes that meet your criteria. You’ll need to work with a knowledgeable, professional REALTOR® who can talk to you about how quickly homes that are similar to yours are selling and for how much. On the buying side, you should do some preview shopping to get an idea of what you want and how easy it is to find it. For example, if you must live in a particular, popular school district, you may want to consider buying a home first so that you’re sure you have a place you want.

Financial Options

In an ideal world, everyone would have the funds to pay cash for their next home, but the reality is that most people need the equity from the sale of their current home for the down payment on the next house. One option is to sell your home and then negotiate to rent it back from your buyers, but remember THAT you’ll need to pay them for the rental. Also, lenders will limit the rent-back term to a maximum of 60 days because a rental lasting longer than that would be considered an investment property.

Alternatively, you can temporarily live with friends or family or in a short-term rental while you’re between homes. In that case, you might need to pay for a storage facility for your possessions.

A drawback to selling your home first is that you may be unable to find a home to buy, or you may feel rushed into taking a place that doesn’t meet your expectations.

If you can qualify for the mortgage loan on both your current home and the next home, you can access the equity in your current home with a line of credit. You’ll need to take out the line of credit before you put your home on the market and then you can pay it back at settlement.

You may also be able to borrow money for a down payment from relatives that you can repay after your home sells.

Some lenders also offer bridge loans for transitioning homeowners as long as they have excellent credit and sufficient equity in their current home. A lender can help you evaluate your options.

Risk Aversion and a Plan B

You’ll have to ask yourself what scares you most: selling first and having nowhere to live or buying first and being stuck with two mortgage payments. The answer depends on your finances and your local market, but in either case you should have a back-up plan to deal with the worst case scenario – either another source of income for those mortgage payments or an identified place to live for a few weeks or months while you shop for a home.

Source: Realtor.com

History has shown that economic recoveries following recessions are typically both strong and durable. As shown in the chart, once the recovery takes hold and the economy does start expanding, it is rarely for a short time. In fact, periods of expansion that came on the heels of downturns averaged 57 months or close to 5 years. After 1960, the average period of expansion following a recession was even longer at 71 months or close to 6 years. Although the transition from an economic recession to an economic recovery can be choppy, once recoveries arrive, they tend to be longstanding.

Feel free to contact me or visit my website for more information.

Douglas J. Bodtcher  
Investors Group Financial Services Inc.
780-448-1988 ext. 284
Douglas.Bodtcher@investorsgroup.com

After 12 years at Apple leading the design of the iPod and iPhone, Tony Fadell told his friends and family he was leaving one of the most valuable companies on the planet to make thermostats. (Could there be anything less glamorous?) Not surprisingly, his move elicited a collective, “Are you insane?”

But yesterday Google announced it was forking over $3.2 billion in cash for Fadell’s company, Nest, which makes a smart device called the Learning Thermostat and a smart smoke detector called Protect. Not such a crazy move after all.

“My initial reaction was ‘wow,’” says Chet Geschickter, an analyst covering energy management at research and advisory company Gartner. “Google would need to sell a lot of thermostats to get that money back, probably too many to validate the price.”

Geschickter believes the move is part of a broader strategy for Google. “They’re probably making a play at what we call the connected home, a ubiquitous networking with low-cost sensor devices, and they’ll start building all different kinds of functionality inside modern domestic environments,” he says. “The fact that they paid $3.2 billion for a company created with a very attractive product that’s getting traction — it’s a very large investment, even for Google. My take as an analyst is, this is part of a bigger strategy for home tech.”

But Google is acquiring so much more than thermostats and smoke detectors that go for $250 and $130, respectively. It’s getting a learning algorithm that’s integrated in Nest products, which interact with homeowners rather than just implementing their commands.“They’re purchasing the customer base and brand name, which Nest has done a good job of popping up very quickly,” Geschickter says. “When you break it down, there are a couple of different key pieces of intellectual property that have legs.”

When a behemoth tech company like Google places its chips on the table, everyone starts to listen, and this could be the big break that the home tech sector has been looking for. “I’m really blown away by this news,” says architect Steven Randel. “I think that Google sees a huge lapse in the technology in this specific area. They’re going to try and move in on it because no one else is doing it. All these different home tech devices, nothing is coordinated together; that’s what Google is trying to go for. You’ll see them begin to integrate all these different devices, and they’ll communicate to one source.”

Home tech writer Mike Elgan points out that Google had actually been working on a smart thermostat of its own and may have abandoned those plans. “The company is interested in home automation and the ‘Internet of things’ because Google’s specialty is better living through algorithms,” he says. “The Nest thermostat, as well as the company’s smoke detectors, are intelligent. They learn and adapt. Eventually all these smart things in the home will be connected to each other and to the people who live there through smart phones and wearable computing devices.”

Fadell and Rogers had set out with their company to make home products that users can control with smart phones, but also that learn on their own. The thermostat, for example, learns homeowners’ living patterns and adjusts accordingly for the just-right temperature — allowing the homeowners to save on monthly energy bills.