Edmonton, AB Real Estate News

By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
A good way to see what is fueling the Alberta economy is to visit the Oilsands Tradeshow in Edmonton is to go to the oilsands tradeshow. "Widely seen as a future driver of the global economy,oil sands development sits front and centre on the global stage. This year's Oil SandsTrade Show & Conference launches at a significant time for oil sands and heavy oilprofessionals as they assemble in Edmonton to explore innovative ways todrive environmentally sustainable energy," said Wes Scott, Event Director, dmgworld media. Green technology and careers feature at the event. For more information and events schedule check here HERE IF you hurry you can still get a free pass by the end of today (you must be in the oilsands industry to obtain a free pass). Exhibition Hours: Tuesday, September 23: 1...
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
When the price and market is right the buyers will come. To investors who do their research it has always been clear that the Edmonton market is not unstable and prices aren't plummeting merely stabilizing. With so many listings on the market the pickings are plentiful and the prices are right. "I've been run off my feet," "July was ridiculously busy and August has been ridiculously busy, and when it shows in the numbers, it's not just me. "The stats show buyers are confident with the Edmonton economy. It's a large selection to pick from right now, and I think they don't foresee a drastic dropping of prices, so they want to get into the marketplace and buy. "By the time we get through to next spring, we're going to have a far more reasonable listing inventory and we're going to have a f...
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
Once again Edmonton and Alberta are beating the whole country in 2007-08 for  the most capital investments, job creation or/and large projects.  Edmonton ranked first in Canada.  Alberta got top for competitiveness. "It means they were the most successful in attracting the most number of qualified projects," Site Selection editor-in-chief Mark Arend said today. Read Article
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By Jason Thomas
(Royal LePage Summit)
The pattern continues. Our listing inventory has dropped to 9612 from 10,335 in July. That is a big drop. If we continue at this rate, then our inventory could easily drop under 7000 homes for sale. Last year (2007) we saw a drop to the 7000 level, but the inventory didn't start falling until October. Therefore, we may even see 5000-6000 numbers for inventory. If we do see this level and our sales remain strong, then price increases could be expected in 2009. Those are mighty big "ifs", but the pattern and graphs are pointing in that direction. A 5000 level of inventory with 1500-2000 sales per month would definitely create a seller's market. Before everyone gets too excited, we won't be returning to the 50% annual increases in price soon. We should come back to the 5-7% annual price in...
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This is a common question that sellers have.  As you can see from the graph the list price to sales price ratio has bounced between 96% and 97% for 2008.  So, what this means is, if you have a home listed for $300,000, the average sale price of that home will be in the $288,000 (96%) to $291,000 (97%) range.  The reality is that you as a seller will determine whether you will take an offer or not.  If a buyer offers you 90% of list price, then don't have to take it.  If you have priced your home well, then your list to sale price ratio could be closer to 100%.  I've seen homes that are well priced go for 100% of the list price or higher in this market. I've also seen the opposite occur.  I've seen where a home has been on the market for awhile and/or needs quite a bit of work and a moti...
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By Jason Thomas
(Royal LePage Summit)
The days on market average has been fairly consistent for 2008 in the Edmonton market. We started the year at 61 days and dropped down into the 51-55 day range in the remaining months. Many people call me in to sell their home and make the mistake of thinking they can put their home on and have it sold (ie have their money and move out) in 30 days. This is a possibility although very unrealistic.Firstly, our days on market average does not include homes that sold but were also on the market previously and failed to sell. For example a home may have been on for 180 days with another REALTOR® and then it was relisted and this time it sold in 45 days with the same or different REALTOR®. The days on market reported is 45, NOT 225 (45 when sold + 180 when expired). So our days on market ave...
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By Jason Thomas
(Royal LePage Summit)
This is a common question that people have when they have a home to sell.  Should we find a home first, or sell ours first?  I understand the worry that you won't find the right home, but in reality that is very rare. Especially today with our current listing inventory in Edmonton we always find a good home if we give ourselves enough time (60-90 day possession on your existing home).  I always recommend to sell first.  There are quite a few reasons but the biggest is money.  Financially you can lose money by buying first.  To explain this, when you are buying you are emotionally involved.  When you are selling it is much more of a logical (have to do) process.  I've seen many people buy first and overpay for their new home (emotional) then they "dump" their home and sell at a low price...
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By Jason Thomas
(Royal LePage Summit)
Well this month we finally can see a trend.   We are starting to see our listing inventory finally coming down.  This follows closely with previous years where we peak out in May with the number of homes on the market. There is then a gradual decline to a low of inventory at the end of December.  Then in January inventory builds until May and starts to fall again.  On the demand side, the sales have been quite strong.  We are just off April, May and June numbers of 1820-1850 sales, we sold 1752 homes.  That is particularly good for July as this month is normally the lowest next to December for sales volume.  This amount of sales is also much stronger than last July (2007) where we had only 1565 homes sold.
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By Angie Resendes
(RE/MAX River City)
 PRICING MATTERS! When you decide to sell your home, one of the most important decisions you'll make is your initial listing price. Of course, you want to get as much for your home as buyers may be willing to pay. However, when determining the price, don't make the mistake of overpricing. It's an understandable mistake, but one that could prove costly if it slows down the sale and/or makes other homes look like a good value by comparison.  One trap many sellers fall into when deciding a price is basing it on emotion. After all, your home has been special to you and your family. You've perhaps made changes and improvements over the years. But you need to ask yourself: how important are those changes to a potential buyer? How up-to-date are the improvements? It is easy to think your home ...
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By Jason Thomas
(Royal LePage Summit)
As the weather gets warmer, there's nothing more fun than taking the party outdoors. Whether you're having a backyard bash or an intimate gathering on your condo balcony or rooftop, here are some tips for a simple, sophisticated summer 'do. Be deliciously different.Think outside the burger, and try something like marinated vegetable skewers or grilled pizza. If you plan to barbecue something that falls apart easily, like fish or veggies, use a grill rack. Put a sprig or two of fresh rosemary on the coals while you're grilling. Not only will the food taste great, but your party will smell wonderful. Serve a signature cocktail.Set up a margarita or mojito station. Set out rimmed glasses, slice some limes, then serve the drink in pitchers with lots of ice and let guests help themselves. B...
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By Jason Thomas
(Royal LePage Summit)
Well July is here and that normally means a slowdown in activity in our market. Most people are surprised to hear that December and July are the two slowest months for number of units sold in the real estate market. That being said there are still homes selling, people just tend to have their minds on summer holidays and enjoying the short Edmonton summer. I've put together another graph showing our inventory versus sales.The sales data has been quite strong, we are pushing 2000 home sales each month for the last 3 months. Actually they have been extremely consistent, 1823 in April, 1821 in May and 1852 in June.Our inventory has finally started to crest, we actually dropped a little with the number of homes for sale on the market. At the end of May we were sitting at 11,006 homes for s...
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
West Edmonton Mall used to have the largest everything. Although it has lost a lot of it's superlative status it does once again have a biggest - The largest Apple store in Canada.The opening saw 600 people lined up some as early as the day before.I can only assume Apple feels that Edmonton ranks along with Toronto, Vancouver and Montreal as crucial sales points due to it's growing population and strong economy.
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
We've generally stayed away from Alberta Ave because the headaches of managing and tenanting the property far outweighed the low price tags. However, with an $8.5 million , 5 block-per-year revitalization in the works it's starting to look more and more attractive."Alberta Avenue, the 27-block stretch of 118th Avenue north of downtown, is getting a facelift. Crews are beginning work on "streetscaping" five blocks of the avenue, putting in new road surfaces, new and wider sidewalks, new trees and better lighting." Susan Ruttan, edmontonjournal.comDon R. Campbell often says to not be the first in the area to start the gentrification but come in the middle when the risk takers have done most of the work. I would say this is a good indication that properties in this previously forsaken (dru...
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
Is the only answer. I saw that oil could go as high as $200 per barrel not just a bubble but the growing demand and tightening supplies might make that scary number a reality. Along with carpooling, using the transit system and well walking we could all try "hypermile - ing":"Fuel economy-maximizing behaviors describe techniques that drivers can use to optimize their automobile fuel economy. The energy in fuel consumed in driving is lost in many ways, including engine inefficiency, aerodynamic drag, rolling friction, potential energy required to climb hills, and kinetic energy lost to braking (absent regenerative braking). Driver behavior can influence all of these. The city mileage of conventional cars is much lower than highway mileage due to: 1) a high proportion of idling time, 2) o...
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By Luis Miranda
(Boomers Marketing Solutions)
MEXICO BUYING GUIDEThe U.S. State Department estimates that there are twice as many people buying a home in Mexico today than there were just a decade ago. Many are buying in new waterfront resorts targeted to Americans in popular destinations like Puerto Vallarta, Cancun, Sonora and the Baja Peninsula. The appeal is more than just the thought of permanently toasty weather. The cost of living, from housing to health care, is significantly lower in Mexico than it is in the U.S. That makes the country especially attractive to retirees on fixed incomes, as well as to younger telecommuters and others with portable jobs fleeing high-cost U.S. cities. Increasingly available creature comforts like high-speed Internet access are making the country more attractive to Americans. In Baja, there's ...
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
An Edmonton landlord struggles to keep the school near his complex open and is willing to pay to make that happen."Reg Appleyard, Meadowcroft Housing Society of Edmonton's executive director, told public school trustees that he will guarantee 110 students are enrolled in Woodcroft Elementary School by Sept. 15, and the society will pay nearly $5,000 for every student short of the goal, up to $98,224 or a shortfall of 19 kids." Photo courtesy of Edmonton Journal.Relying on 30 years of accumulated reserve funds, Reg sees this as the biggest crisis the complex has had to face, and is willing to pay to keep the school and his units tenanted."We bought this complex 30 years ago, and we've always set aside funds each year for crises or emergencies," he said. "We feel that this is probably the...
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
This is taken from Star Publications of Malaysia. "WITH crude oil hitting a record price of US$108 per barrel recently, the search for oil and gas has been more intense than ever due to its high profit margin. In recent years, investing in the extraction of oil from sand or oil sands is gaining popularity because of the strong demand and high prices of oil. It was reported by Time Magazine in a recent article that second only to the Saudi Arabia reserves, Alberta's oil sands deposits were described as “Canada's greatest buried energy treasure,” which could satisfy the world's demand for petroleum for the next century."So that brings the countries investing in Alberta to France, China, Norway, the Middle East, America, Japan and now Malaysia. They see something that is a sure bet with th...
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
Recently a lot of people are asking what exactly is a joint venture investment and "What DO you guys do?"To put it simply:We leverage our time, knowledge, expertise, contacts and education for investment capital and we own the asset/property we buy 50/50. OUR ROLE1. Choosing quality revenue properties using a proven real estate system - this often means searching through 100's of properties in select areas. It takes time to find a good property in an appreciating area that is a deal. Most people look at a maximum of 10 properties we look at 100s.2. Purchased undervalue and/or with a decreased down payment - Close to 90% of the deals we do are less than 25% down deals heck they are often less than 20% down. Second mortgages, assumable mortgages and agreements of sale are a few savvy stra...
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
The city had a budget surplus of $34.4 Million in 2007. Some of the excess funds are planned to go to infrastructure, a new sports complex and other projects."I know it's frustrating and I don't blame the public. I don't necessarily disagree with their position either, but sometimes it's hard to guess 365 days in advance what's going to happen." Mayor Stephen MandelMaybe we can get a rebate?
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By Todd and Danielle Millar, Nineteen years of excellence!
(Glenn Simon Inc.)
Over the last ten years Edmonton has seen and incredible 203% increase in housing prices."Never before have we seen such a continuous run-up in Canadian real estate. Clearly, strength in all markets has been directly linked to solid growth in local, provincial and national economies. Low interest rates, job security, and consumer confidence have all served to further bolster home-buying activity across the nation," Michael Polzler, executive vice-president of RE/MAX Ontario-Atlantic CanadaIt goes to show that real estate is a long term play, short term thinking and lack of focus can only be detrimental to investors. If you pick a market with strong economic fundamentals then buying property is sure to give you good returns over the long term. The hardest part is maintaining your focus o...
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