Posts Tagged ‘edmonton real estate’

Three new schools slated for far-flung Edmonton suburbs; existing school being expanded

Monday, February 10th, 2014

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EDMONTON – The Alberta government will build three schools in Edmonton — in the rapidly growing Summerside, Ambleside and Lewis Farms neighbourhoods — along with expanding the existing Lillian Osborne High School.

“One of the cornerstones of our Building Alberta Plan is education and preparing our kids for their future,” Premier Alison Redford said Monday in a news release. “Last spring, I committed to building 50 schools and modernizing 70 others and that is exactly what we are doing. Before the month is over, all of those projects will be underway.”

The new schools — to address enrolment pressures in growing communities — will create more than 3100 new student spaces. The projects include:

– new kindergarten to Grade 9 school for Summerside, benefiting as many as 750 Edmonton Catholic Separate School District students;

– a new kindergarten to Grade 9 school in Windermere (in Ambleside), benefiting as many as 900 Edmonton Public School District students;

– a new junior high school in Lewis Farms, benefiting as many as 900 Edmonton Public School District students; and,

– a new 600-student space expansion to Lillian Osborne High School in southwest Edmonton.

“Our commitment to build state-of-the-art schools in communities across Alberta is critical to achieving the goals of Inspiring Education,” Education Minister Jeff Johnson said in the release. “We are putting students first by making smart and strategic investments in their education. These new schools will help ensure that every student can reach their full potential.”

Source: EdmontonJournal.com

Drone Marketing Takes Flight

Wednesday, February 5th, 2014

Some agents think the sky is not the limit when it comes to serving their clients. Those agents defy gravity with remote-controlled drones outfitted with cameras, which deliver stunning aerial photography ordinary marketing materials can’t offer.

Scott Gerami, a Hall of Famer with RE/MAX Professionals Select in Naperville, Ill., is among the early adopters of these small, unmanned aerial vehicles (UAVs), which are commonly referred to as drones.

His drone soars 400 feet above clients’ homes, and its camera captures images of rooflines, aerial views of landscaping, neighboring properties and a bird’s-eye view of nearby landmarks.

“The drone provides amazing video and pictures other agents don’t have,” Gerami says. “Using it shows clients that I’m on top of the latest trends and technology to market their homes better.”

Client response has been “overwhelmingly positive,” Gerami says, but it’s still too early to say whether drones have had a tangible impact on his business.

“Up until this point, I used drone photography as a value-added service on select properties,” he says. “But I plan on promoting it heavily going forward.”

Drones come in all sizes and price ranges – some cost as little as $500 – but Gerami went the DIY route. He has designed and built his own drones.

In fact, Gerami is so excited about the technology that he’s working to set up a live, online video chat in collaboration with Mad Lab Industries, a local tech company that helped him build his drones. Now Gerami wants to partner with the company to teach other professionals how to get the most from these little marvels.

Broker/Owner Mark Cooper is also an avid fan of drones. He just started experimenting with the cutting-edge technology at his aptly named brokerage, RE/MAX Edge in O’Fallon, Mo. And like Gerami, he’s sold.

Mark Cooper RE/MAX

VIEW FROM THE TOP Mark Cooper’s aerial drone photography is his
newest, and most impressive, marketing tool.

He firmly believes drone photography will become a recruiting tool to attract innovative agents – and new clients.

“The client with the $2 million house to sell will look at my aerials and say, ‘Hey, I want that drone view, too,’ and give his business to me and not the competition,” Cooper says.

Using drones is a time and money commitment, Cooper notes. It can get pricy – Cooper says he’s invested about $2,000 so far – and producing drone videos can take up to eight hours for a single listing.

That’s why Cooper thinks he’ll use the drones to market luxury homes or large properties, which are harder to fully photograph. But he agrees with those who say that this technology and its real estate applications are here to stay.

“There are so many ways drones can be used in our industry,” Cooper says. “Roof inspections, property surveys and even up-to-date street views. If you’re selling a farm or a lot of acreage, you no longer have to trek a mile with a buyer to see the land. You can offer them an overview shot the day before – or maybe even live!”

Source: REMAX.com

Alberta’s new home warranty program rolls out Saturday

Friday, January 31st, 2014

EDMONTON- A new mandatory warranty program designed to protect people buying new homes across the province comes into affect this weekend.

The government calls the New Home Buyer Protection Act the strongest consumer home warranty protection plan in Canada.

“This legislation will help protect the single largest purchase that most people make…a home,” said Minister of Municipal Affairs Ken Hughes.

Ninety per cent of homes built in Alberta already have new home warranty, but the new legislation will require all builders to provide more comprehensive home warranty coverage for all new homes and condominiums built in the province.

At minimum, all new homes will have the following warranty protection:

    • one year labour and materials – this covers the way the home was built or the materials it was built with, such as flooring and trim;
    • two years distribution systems – this covers the labour and materials related to heating, plumbing and electrical systems;
    • five years building envelope protection – this covers the exterior shell of the home, including the roof and walls, and includes a requirement for the warranty provider to offer the consumer the option to purchase two additional years of building envelope coverage; and,
    • ten years coverage for key structural components, including its frame and foundation.

US builders boost single-family home construction

“Reputation is very important,” said Tally Hutchinson, vice president of the Canadian Home Builders’ Association, Edmonton Region. “And we will continue to build homes with best practice and we think that this initiative is very, very important for the consumer and for the industry.”

However, not everyone is convinced. Homeowner Meaghen Allen took possession of her home over four months ago and says she’s still fighting with her builder over several issues.

“The side of our house stairwells, we didn’t have an exit there. The garage, the electrical to the garage, lighting fixtures. Just the quality of work, the stairs, the paint,” she said. “And just too, they were building properties next door to us.”

Allen says going through warranty hasn’t worked, either.

“My experience with New Home Warranty is that they don’t do anything,” she explained. “I have dealt with New Home Warranty (on) three different houses, and three different houses, nothing out of it.”

However, the province maintains it will hold builders and warranty companies accountable. In order to crack down on negligent builders, fines of up to $500,000 can be handed out. The Superintendent of Insurance will also investigate consumer complaints against warranty providers.

“Our new home buyer protection office has compliance officers who will monitor compliance,” said Ivan Moore, assistant deputy minister, Public Safety Division, Municipal Affairs.

The Act will only apply to homes with a building permit applied for after Saturday, Feb. 1.

The New Home Buyer Protection Act was passed in November 2012, and was originally supposed to come into effect last fall. However, that date was pushed back to Feb. 1, 2014 to give warranty providers more time to prepare, the government said.

For more information on the Act, including access to warranty information, visit the Government of Alberta’s website.

Source: GlobalNews.ca

January 2014 Edmonton Real Estate Market Update

Wednesday, January 29th, 2014

To View & Search All MLS Listed Houses for Sale Visit Us At:
www.EdmontonHomesforSale.biz

Team Leading Edge
RE/MAX ELITE
Direct: 780-634-8151
Office: 780-406-4000

Weathering The Winter In An Older Home

Tuesday, January 28th, 2014

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Weathering the cold and dark winter months is a challenge for anyone, but can be especially difficult if you live in an older home. Older homes carry a lot of appeal but older homes also come with problems and a lot of them are brought to light in cold winters. These are common issues that should be addressed and corrected so that your focus is on friends, family and holidays, and not with home repairs.

Many older homes come with beautiful glasswork but unfortunately, these drafty, single-pane windows allow heat to escape, wasting energy and money. Replacement windows can be expensive but they are often the most effective way to increase energy efficiency and comfort.
Insulation overall can be a problem in older homes, and inadequate insulation should be supplemented with additional insulation, particularly in attics. In order to ascertain how much insulation you need, check with local sources to determine if minimum insulation ratings (R-values) are required in your area for new homes and then meet or exceed those levels in your older home if you can.
Outdated water pipes can cause huge problems if cold temperatures cause them to freeze or burst. Older pipes made of galvanized steel, iron, or lead may need to be replaced if they are not in good condition. Good replacement options include copper or CPVC.

Early sunsets can make the winter seem dreary and long, so simple steps to brighten the interior of your home can go a long way to lifting those winter blues. Add bright color to any room with pillow covers, flowers, or indoor plants. Likewise, giving a small space like a powder or laundry room a fresh coat of paint in a cheerful color can help brighten an indoor space without becoming a major project. If you’ve got a green thumb, you can also take this time to plan out your spring garden, reminding yourself of sunnier, longer days to come.

Source: Pillar To Post Home Inspectors Newsletter

It’s The Price That Sells a Home

Friday, January 24th, 2014

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You’ve heard the old saying – “Location, location, location.” The real truth is “Location, condition, and price.” And price trumps every other factor. Location affects the value of a home, but it’s price that sells a home. Oceanfront, mountainside, or penthouse, the most desirable location in the world won’t sell at the wrong price. Every property has a potential buyer, but like rock, paper, scissors, it’s sometimes hard to know which factor is going to win the showdown. A good location will sell at a fair price. A bad location will sell at a fair price, too. It just won’t be as a high as it would be for a good location.

A home in good condition will sell for a fair price. A home in poor condition will also sell at a fair price. Again, it won’t be as high as a comparable home in better condition. But neither location or condition will sell any house. Only one thing does that – price. So if you’re a seller waiting for that “special buyer” who will appreciate your faded pink and black bathroom tile, your vintage orange shag carpet and is willing to help you put your kids through college because of your real estate prowess, you’re going to have a long wait.  So if your home is represented by an agent, and it’s been on the market for a long time, chances are it’s your own fault Maybe you didn’t listen to your agent when he said you’re pricing your home above the market. Maybe you got mad at the first few folks who looked at your home and didn’t make offers. When the showings stopped completely, maybe you accused your agent of not doing a good enough job. You put the blame on everyone except where it belongs – on you. It’s not about you, what you want, or how much you need for your retirement.

It’s about the price.

Source: RealtyTimes.com

Collateral Versus Standard Charge Mortgages

Thursday, January 9th, 2014

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With some lenders moving towards collateral charge mortgages, it’s important to understand the differences between a collateral and a standard charge mortgage.

The primary difference is that a collateral charge mortgage registers the mortgage for more money than you require at closing. For instance, up to 125% of the value of the home at closing with TD Canada Trust or 100% through many credit unions, instead of the amount you need to close your transaction (as is the case with a standard charge mortgage).

The major downside to a collateral mortgage becomes evident at your mortgage renewal date. For borrowers who want to keep their options open at maturity and have negotiating power with their lender, this isn’t the best product feature because collateral charge mortgages are difficult to transfer from one lender to another.

In other words, if you want to change lenders in order to seek a better product or rate in the future, you have to start from the beginning and pay new legal fees, which range from $500 to $1,000. With a standard charge mortgage, in most cases, the new lender will cover the charges under a “straight switch” in order to earn your business.

In addition, with a collateral charge, it could be difficult to obtain a second mortgage or a home

equity line of credit (HELOC) unless your home significantly appreciates in value.

Lenders offering collateral charge mortgages promote the benefit that it makes it easier and more cost effective to tap into your equity for such things as debt consolidation, renovations or property investment. There’s no need to visit a lawyer and pay legal fees – the money is available as your mortgage is paid down. Yet, if you read the fine print, you may still have to re-qualify at renewal.

A standard charge mortgage gives you the ability to move to another lender at renewal should you want to without incurring legal fees, and many borrowers find it more beneficial to keep their options open. If you need to borrow more with a standard charge mortgage, you have the option of a second mortgage or a HELOC, which also enables you to take money out as your mortgage is paid down.

Navigating through the mortgage process alone can be tricky. Working with a mortgage professional who has access to multiple lenders will help ensure you receive the product and rate catered to your specific needs.

As always, if you have any questions about the information above or your mortgage in general, I’m here to help!

 

Source: Dominion Lending Centres Newsletter

Real estate boom continues in Canada’s largest cities

Wednesday, January 8th, 2014

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Repeated warnings of an overheated market failed to deter home buyers in Canada’s largest cities in 2013, with the number of Toronto home sales up two per cent over the previous year, Vancouver sales were up 14 per cent and Calgary sales rose 11 per cent.

Homes in the Greater Toronto Area continued their robust rise in price, up 5.2 per cent to an average price of $523,036 in December, compared to $497,130 in 2012, the Toronto Real Estate Board reports.

After a slow start to 2013, GTA housing sales picked up in the second half of the year. Total sales for 2013 were 87,111, compared to 85,496 transactions in 2012.

Even the condo market showed gains, with the average price in Toronto rising 7.6 per cent to $367,376 compared to December 2012, while detached homes prices rose by nearly 19 per cent to $864,351.

Although December sales tend to be slow, new listings were down almost four per cent in December, which helped fuel frantic bidding wars in some Toronto neighbourhoods close to the downtown and transit lines.

Pickup in Vancouver sales

For Metro Vancouver, total sales of detached, attached and apartment properties in 2013 reached 28,524, a 14 per cent increase from the 25,032 sales recorded in 2012.

But the number of residential properties listed for sale on the MLS declined 6.2 per cent in 2013 to 54,742, part of a trend in major cities as baby boomers hold onto their properties.

The average house price in the Greater Vancouver area was $603,400.

The price of a detached single family home rose 2.5 per cent to $927,000, while condo prices were up 1.8 per cent for the year to $367,800.

“It was a year of stability for the Greater Vancouver housing market,” said Sandra Wyant, Real Estate Board of Greater Vancouver president. “Balanced conditions allowed home prices in the region to remain steady, with just a modest increase over the last 12 months.”

Calgary sales powered by economy

In Calgary, 16,302 single family homes changed hands, an eight per cent increase, and 4,007 condos were sold, a 14 per cent rise.

The benchmark price for a single-family home was $472,200 in December, an 8.6 per cent increase from the previous year.

“Two consecutive years of elevated levels of net migration, combined with an improving job outlook and confidence surrounding long-term economic prospects, supported the demand growth,” said Ann-Marie Lurie, chief economist for the Calgary Real Estate Board.

How strong the housing market remains in 2014 depends on interest rates.

Finance Minister Jim Flaherty warned in an interview Sunday that Canada will face global pressure to raise rates in 2014 as the U.S. Federal Reserve pulls back on its stimulus efforts and the U.S. economy rebounds.

Toronto and Calgary prices to continue upward

The Toronto Real Estate Board predicts price growth will continue to exceed inflation in 2014, largely because demand for low-rise houses continues to far outstrip supply.

“The seller’s market conditions that drove price growth in the second half of 2013 will remain in place in many parts of the GTA,” said TREB senior manager of market analysis Jason Mercer.

“Some neighbourhoods, especially those characterized by low-rise house types like singles, semis and townhomes, will continue to have less than two months of inventory.”

In Calgary, both prices and numbers of sales are expected to rise in 2014, the Calgary real estate board said, but the increases are not likely to be as steep as in 2013.

 

Source: www.CBC/news.ca

Your Next Big Project: Seven Steps To Help You Prepare For A Major Renovation

Thursday, January 2nd, 2014

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1)  Identify the changes or additions you need for function, then add a wish list inspired by magazine articles or web resources. Don’t factor in cost at this stage.

2)  Consider how your project might affect other parts of the home (e.g. energy-efficient windows won’t be very effective if adjoining rooms are leaking air).

3)  Before planning changes in structure (e.g. walls) or utility locations (e.g. HVAC, plumbing and/or electrical), engage the advice of a trusted professional.

4)  Interview prospective contractors and their references. Choose the one most suitable, based on ideas, itemized costing, communication skills, realistic timelines, relevant experience and references.

5) Define a clear, realistic and affordable budget, leaving about ten per cent for contingencies.

6) Insist on liability insurance, licensed trade work, industry standards and inspections, material warranties and guarantees (as applicable), as well as a contract with reasonable timelines for consultation, design, permits, material acquisition and completion deadlines – with applicable penalties if breached unreasonably.

7) Be flexible, but avoid changing plans mid-project, if possible.

Edmonton Water Damage: Causes and Prevention

Wednesday, December 11th, 2013

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Water damage can result from many different causes: storms, flooding, broken water pipes and lines, leaking washing machines, and more. This can lead to mold and odor problems, and worse. If left unmitigated, water damage can eventually cause structural damage, which can entail significant costs to repair and can even affect a home’s value.

Prevention is the first defense against water damage. Here are some basics on preventing water damage and its effects:

Water supply lines to and from washing machines and dishwashers should be regularly checked for leaks. Both the hoses themselves and the connections should be examined. Even a small leak can cause water damage over time, so any leaks should be repaired immediately. If the laundry room is located on the main floor or above, damage to the floor and ceiling below can be especially problematic.
Tank-style water heaters are prone to leaks, especially after several years of use. Over time, the bottom of the tank can rust out, causing a serious leak. Ideally, an overflow valve should be installed that will conduct leaking water to a pipe that drains either outside or to an appropriate interior drain.
Another common source of water leaks is the icemaker supply line; this should be checked as well.
Be aware that pipe leakage can occur inside the walls or ceiling and may be impossible to detect visually before damage has already occurred. Proper equipment such as an infrared scanner can be used to detect signs of moisture.
Gutters and downspouts should be checked to ensure that water is flowing away from the home’s foundation. Make any adjustments, and check the flow again using water from a garden hose.
Water leak detectors can be installed at floor level near water heaters and interior air conditioning units. Simple, inexpensive wireless models are widely available and will sound an alarm when water is detected on the floor near these appliances.

 

Source: PillarToPost Home Inspectors Newsletter

The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the REALTORS® Association of Edmonton. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.