Real Estate Blog - February, 2014

Real Estate Tips

Posted by Gurpreet Ghatehora on February 24th, 2014

Real estate can be an exciting venture in life, whether you are looking for a private residence or you are in search of investment or recreational property. Whatever you are after, it is likely you have more than a few questions about it. Below are some tips and guidelines to consider when you begin to shop for real estate.

First things first…
Get a mortgage preapproval. This will mean ensuring your credit score is in good order, and that you have some money stashed away for a down payment. Not only does a preapproval give you peace-of-mind and surety of your real estate price range, it also looks good to sellers when you make an offer and there are competing bids.

Be willing to compromise
Unless you are in a position to purchase a million dollar…

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Edmonton Housing and inventory up in January 2014

Posted by Gurpreet Ghatehora on February 12th, 2014

Residential Home inventory on MLS® rose up to 16% in January. According to CMA over 1800 homes were on sale in January. In December only 783 home listings were available. Total inventory of 3537 (up from 3049 in December) kept prices stable in all housing categories.
Compared to December, Single family detached homes prices were down. Condominium and half duplex prices were also down.
Average days on market per listing was 61 days in January compared to 73 days in January 2013.
Low rental vacancies and the potential for higher rental are also attracting investors in to the market.
January 2014 
SFD2 average3 selling price – month $416,344
SFD median4 selling price – month $385,000
Condominium average selling price $230,463
Condominium median selling…

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