Edmonton Real Estate Blog

It’s been almost a mythical belief that the best time to sell an Edmonton home is during spring and summer season. That is most certainly not true. Although, selling in spring and summer poses “some” advantages, listing your home today would be one of best strategies you could do.

It is possible to sell your home quickly and for a better price this off-season due to a shortage in inventory. Remember, most Edmontonians are busy preparing for the holidays so there are few competitions out in the market!

During the spring and summer time, there’s an influx of newly built homes so that gives buyers more options, which in turn could force you (or the other sellers) to reduce the selling price.

Again, to emphasize, the off-season will provide you with less competition. Yes, we needed to underscore that part. Most people hibernate by this time of the year, some would just choose to watch the Edmonton Oilers game (like Serge and Dan) rather than sell their homes so all the odds are within your favor!

Lastly, off-season buyers would love it when they know and see for themselves that your most cherished house have been performing terribly well against damaging weather conditions; heavy rains, freezing temperatures.

Pick-up your phone and call Team Leading Edge now at 780-634-8151 so we could start selling your home.

In case you missed it, theglobeandmail.com published an interesting report last 11 November written by Michael Babad entitled “Why we shouldn’t fear a crash in Canada’s three hottest housing markets”.

Here’s the breakdown of it.

In the housing and demographics side, senior economist Robert Kavcic found in his research that while the residential construction starts are at record levels, still grew 4% year over year.

Toronto is experiencing a 4 1/2 –year low in constructions starts due to the cooling down of population growth.

Mr. Kavcic further said that there is no meltdown in the horizon since the constructions happening in Toronto were mostly started in 2012 and 2013, which means there is no real overbuilding.

As what we have discussed in our previous posts, housing starts have declined in October reaching a low of 183,600, surpassing projections by economists.

“The focus in Canada is on Vancouver, Calgary and Toronto, where prices are running hot. Most recently, the Bank of Canada has said other markets are showing signs of a soft landing.” the report said.

Gluskin Sheff + Associates chief economist David Rosenberg suggests that the downside surprise in data is a welcoming point for policy makers, where homebuilding is staying consistent with the Canadian household formation trend.

This trend is well above the requirement to match the growth in population as noted by Brian DePratto, Toronto-Dominion Bank economist.

He further adds that “A gradual rise in interest rates, along with the moderate level of overbuilding will help moderate housing activity.”

All this point to a rosy real estate industry in Edmonton. The music still continue to play and so is the need to dance to it. Buy now. Check out the latest available homes for sale in Edmonton and nearby areas on our high-speed Edmonton MLS.

Read complete report here.

This past few weeks, we at Team Leading Edge have harping the good news about Edmonton’s real estate industry, today, we’ll try to touch base on the issue of declining oil prices and what it means to the real estate sector.

This topic strikes close to heart since one of Alberta’s main source of income is oil money.

In the past 4 months, oil prices have plunged to a low of 25%, although this is nothing compared to the 80% drop during the Great Recession, some business leaders still foresee a negative effect to the real estate side.

This is not to say that there is another major crisis. Canada’s southern neighbor is currently enjoying a faster than average economic growth.

The declining in oil prices might cost Alberta’s provincial treasury CDN $215 million, if oil prices drop down a notch below the $92 per barrel mark.

David Sanche, co-CEO of Westrich Pacific, said that if oil prices stay low until spring time, condominiums that are entering the pre-marketing phase might face delays, including their project at the Windemere area and corner of 102^nd street and 102^nd avenue.

On the other hand, the decline may prove to be a good thing for the construction industry as it might shift the demand for construction workers from the oilsands to Edmonton’s real estate.

You read it right, everything is looking good for the housing market in the city of Edmonton. Just last October 30, The Wallstreet Journal Canada released an article entitled “Canada’s Housing Market Defies Doomsayers” written by Nirmal Menon, emphasizing that “Canada’s housing market keeps on going, defying long-standing predictions of a slowdown.”

Like what we have written on our Halloween article “Edmonton Housing Market, Surviving Zombiepocalypse”, The Wallstreet Journal Canada reports that forecasts for starts and prices have been raised again by the Canada Mortgage and Housing Corp.

A point to ponder in the report is the reason why Canada’s housing marketing did not experience a bust similar to its southern neighbor, the U.S. Unlike its neighbor, Canada put in place practices that are more conservative.

“The government has tightened mortgage insurance rules four times between 2008 and 2012 to cool the market and rein in household debt that Canadians have built up by using cheap borrowing costs to buy homes.” the report said.

BMO Capital Markets chief economist Douglas Porter have played down the gloom and doom scenarios as some observers have been worried that a housing bubble might burst, this is on the back of the International Monetary Fund’s recent inclusion of Canada as one of the countries with over-valued home prices.

Mr. Porter is positive that under most scenarios, like if the global economy stumbles or Bank of Canada makes big rate hikes, the Canadian housing market would keep plowing ahead.

This solidifies our earlier announcements at Team Leading Edge that it is the right time to buy a real estate property in Edmonton. Check all the latest homes for sale in our Edmonton MLS.

Read complete report here.

We don’t need the ‘Nights Watch’ to remind us that winter is coming. As Serge puts it “I would just like to indulge for a moment and think of Edmonton with more than 2 seasons – winter and construction season.”

Since almost everybody now is in the winter state of mind, we at Team Leading Edge would just like to conduct a friendly reminder to those who have yet to prep their homes for winter. Winter is no laughing matter so better take this seriously if you would like to experience another awesome holiday.

LEAKS!

Leaks have a special place in our hearts so it is but appropriate to put it first on this list. Leaks can make your life miserable so checking it should be on the top of your priority list!

10 to 15 percent of your hard earned money would be wasted if you have an improperly sealed home. The most effective way avoid this wasteful consumption of energy is through caulking and weather stripping. Doors and windows are the main culprit for leaks, do a thorough inspection on all your doors and windows and caulk all holes you see to prevent heat from escaping.

MAINTENANCE!

To keep your heating system at 110% performance, equipment maintenance is the most important thing to do. Failure to check your heating and cooling systems from dirt would result in an under-performance and might possibly ruin your equipment.

A licensed contractor would be your best friend in time of need so it’s best to schedule a fall check-up with him.

HEATING!

Okay, we want to emphasize the importance of your heating system come winter time. DO NOT let October pass without checking and making sure that the heating system is working to its fullest.

Test run the heating system by cranking the thermostat to 80 degrees, this should turn the furnace on and let warm air circulate within minutes. If and when this doesn’t happen, you can try to check where the problem is coming from through your gas furnace troubleshooting guidelines (I do hope your furnace came with that). If you wouldn’t want to fix it yourself, a gas furnace technician would be your best bet in fixing the problem.

THE PIPES!

If you’re from Edmonton, busted pipes in winter isn’t a ‘new’ thing, still, this doesn’t mean you have to let it happen this coming winter! Nope! Nope! Nope!

Having your pipes burst would surely cause huge household damage, the best way to prevent that is through pads. Cover exposed pipes in unheated areas like the attic and basement with tubular pipe insulation sleeves. Cover every inch of exposed pipe including joints and bends, once done, duct tape would be enough to help you seal the seams.

THE WINTER STORM!

It’s better to be safe than sorry. That would prove to be a lifesaver in case of a winter storm. Rule of thumb, always have an emergency kit that’s fully-stocked ready. The emergency kit must consist of warm clothes, blankets, water, non-perishable food, battery-powered radio (yup, don’t rely on your iPhone!), meds, pet food and of course a first aid kit. Three to five days worth of stock would be perfect in this kind of emergencies.

So, there you have it, simple reminders to get you prepared for winter. Following these won’t consume much of your precious time, do it now. Carpe Diem!

Check out our new and improved MLS real estate listings for the best winter ready home for sale in Edmonton.