Real Estate Blog - October, 2014

What a strong and growing real estate market means for you

Western Canada has seen a huge period of growth over the last decade, despite the country-wide economic crisis. Many cities have grown immeasurably on several fronts including population, job opportunities and industry. This is particularly true for Edmonton, and although many home owner’s lost some money in terms of home value during the economic downturn, those values have recovered and then some since that time. The Western Canadian real estate market is one to get into, so if you find yourself heading this way for work, you should certainly be considering buying a home.

With cities like Edmonton rapidly expanding, literally, due to the housing demand and therefore industry demand, purchasing a home in this real estate market will…

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What is a Short Sale?

A short sale is what happens when the person selling the home is selling because they cannot afford to pay their mortgage. In a short sale, the holder of the mortgage (bank) agrees to allow the mortgage holder to sell the home for less than the debt owed, therefore the monies earned by the sale will fall short of what is owed to the bank. The reason many mortgage lenders agree to a short sale is because they pay fewer fees and additional costs compared to simply foreclosing on a property.

A short sale is something no mortgage holder wants to face. No one wants to lose money when it comes time to sell their home. Everyone hopes to break even or turn a profit, particularly if they have invested in the home over time via upgrades, however a short…

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What Makes Luxury Real Estate Luxurious?

Purchasing luxury real estate is just like purchasing any other real estate (same processes) but depending on where you live, the selection of luxury real estate available for sale can be dismal. The term luxury in the real estate realm brings visions of sprawling homes and manicured gardens to mind, but is it form or price that makes something luxurious?

Some markets are ripe with beautiful, large homes in exclusive neighbourhoods, and by any definition these types of homes can be considered luxury real estate. This is the sort of thing you might see in Beverly Hills or the Hamptons, but what about other places? Some cities, many of which aren’t located near mountains or beaches, offer large homes but they aren’t really considered luxury real…

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Bisset Community - Monthly Statistics

 Bisset - Edmonton Real Estate Statistics

Total Number of Listings:19
Total Condo Listings:16
Single Family Homes:3
Number Of Condos Sold:1
Number of Single Family Homes Sold:1

Average home price for Active listings in Bisset is $229,055 and Highest price for Active listings in Bisset is $429,000. Average Sold price in Bisset within 30 days was 280,848 and highest selling price was $345,900.

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What is a Foreclosure?

A foreclosure happens when a property owner defaults, or stops paying back the lender for the outstanding balance on the property. Essentially a foreclosure allows the lender, let’s say a bank, to go ahead and sell the home themselves to recuperate their losses.
The good news is that if you miss one payment, your bank isn’t going to take your home away. In fact, it usually takes a few months of missed payments for the bank to begin the foreclosure process – the first step of which is usually obtaining a court order that gives them permission to move forward with the foreclosure process. If you are at risk for foreclosure, your lender will begin sending you notices demanding payments be made. To halt the process you typically need to pay the lender…

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Utilizing Real Estate Marketing

Buying a home and selling a home can be a challenging experience, but also an exciting one. One of the most important parts of selling your home or property, is utilizing effective real estate marketing. Real estate can be marketed across several mediums, and the more diverse your marketing plan, the better your chances of a quick sale.

Here are some of the best mediums to utilize:

Online Marketing

Having your house available for viewing online is the most important form of marketing. Everyone browses the internet, and it’s the first-stop for many, even those who aren’t serious about buying at the moment will browse online real estate. From MLS listings , which are secured with a certified realtor, to free sites including Kijiji and…

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Why You Need Real Estate in Edmonton

There is a lot of talk about how real estate in Edmonton is hard to come by, and how there is a colossal housing shortage…but is this true? The answer is both yeas, and no. There is a shortage of housing in certain price ranges, but generally speaking, there are many homes available in the Edmonton market. It’s not so much that real estate in Edmonton is hard to come by, as it is how quickly it sells.

Edmonton is an employment hot-spot, and as such the population has seen consistent growth. This growth has simultaneously caused a growth in housing construction and a competitive real estate market. While there are many homes available to purchase, and many new homes coming available each day, there are also many people house hunting here. This…

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Looking into Edmonton Homes for Sale?

When looking into Edmonton homes for sale, the first place you should check if you don’t yet have a realtor, is mls.ca. MLS® will allow you to narrow down your search area and the criteria of the home you are searching for. Another good idea is to look at the individual websites of realtors. There you can review all the properties they represent, and contact them directly about them.

Available Edmonton homes for sale change rapidly. It is a healthy market which requires buyers to move quickly when they find a place they like. Because of this, many online databases may not be 100% accurate. To avoid this, you’ll want to secure the services of a realtor, who will be able to speak with other realtors quickly and determine if properties are still available…

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New Home Finances

Many who are inexperienced in home buying, or who simply aren’t at that point in their life, likely have no idea what is involved. It’s common to think you need to worry about only 2 things: a mortgage approval and a down payment. But getting your new home finances in order means looking at the big picture – before and after the purchase.

Before you buy

Yes, it’s a good idea to get a mortgage preapproval and you’ll want to have a sufficient down payment based on your price range, but that’s not all. Additional costs include a lawyer, a home inspector, and securing home insurance; property taxes are another consideration. You’ll want to have some wiggle room in your savings account to cover your closing costs and anything else that may come up.

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Home staging: Is it just a trend or does it really work?

Home staging has been around for a long time, probably long enough to expel the idea that it’s just a trend. In fact, it is, and always has been, an incredibly effective way to showcase your home and snag buyers.
If you don’t know what home staging is, then you are really out of the loop! Home staging is the practice of essentially setting up a home to resemble amodel home, in order to look its best. If the sellers still reside in the property for sale, staging will involve emptying the house of any non-essential furniture, boxes, etc. Then furniture is arranged efficiently, and every room is set up in order to give potential buyers some perspective as to what each room could look like for them. Often this means putting a bed in an empty or unused bedroom,…

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