Real Estate Blog

Trends
There are some interesting things happening in the Edmonton housing market as of 2013, and continuing into and throughout 2014. With the average single-family home price topping out at about $400K, many first-time buyers or budget conscious buyers found themselves thrust into the condo market as a means to an end. The rise in average price seems to a precluded many from the market altogether, but it’s had a much more profound effect than all that.
Changes to Come
$400K is a lot of money to most people and despite a great labor force and job opportunities in Western Canada, it’s a difficult amount of money to manage as a young family or bachelor. Obviously this speaks to why many of these people have sought refuge in condos, which average out at about

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Getting a great Realtor should be the first step on your house-buying journey, but for many that’s too serious a step. Most people begin by searching online for what’s available in the area they wish to live, and what the going rate for real estate in said area is. It’s okay, everyone does it, but when you are ready to find a realtor, here are some tips to get you off to a good start:
1. Ask around: Real estate is a customer service driven business when it comes to realtors, and anyone you know who has been through the home-buying process before will be more than willing to either rant or rave about the realtor they used. This is a great opportunity for you to gather a list of names from people you know, of the most recommended realtors in your area.

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We live in an ever changing world of technology, convenience and innovation. The way you would have sold your home as little as a decade or two ago has changed drastically from the real estate practices we see going on today. In world of realtors, free advertising websites and realtor-free methods, it can be difficult to find the right way to sell your home. Should you be conventional or should you hop on the band-wagon?

Conventional

Finding a trusted realtor to evaluate your home, research the comparative market and list it accordingly is the traditional way to sell your home. Is this conventional method a ‘bad’ way to sell your home? No, of course not. One thing that this conventional method has in spades is accountability and trust. Realtors are

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You don’t only have to worry about having a down payment put together when it comes to buying a house, there can be many costs associated with the process that you may be unaware of. Here are a few things to consider before diving in, and a few reasons to have a little extra padding in your savings account:

Moving

Moving is loosely considered to be part of your closing costs, although it does not get a fixed number because you can move fairly cheaply if you do all the back-breaking work yourself. If, however, you are planning on hiring a moving company, you’ll want to plan financially for that as part of the cost of buying a home.

The Lawyer

Purchasing a home requires the professional services of a lawyer and this is by far the largest

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Being a first time home buyer can be a scary and exciting moment in your life. Being a first time buyer in Edmonton? Even more so. Edmonton is a competitive market but above all, it’s one worth getting into. Whether you are looking at it from an investment standpoint or you simply want to buy your first house, you couldn’t pick a better market than Edmonton.

What makes Edmonton so great?

From a real estate perspective the market is great for sellers. It’s pretty difficult to lose money on your real estate in Edmonton (although as with anything, markets fluctuate) and what’s more is that housing is in high demand. This means that a good property won’t be sitting on listing sites very long, so as a first time buyer in Edmonton, you want to make sure

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Edmonton real estate is extremely diverse and can offer potential buyers whatever they may desire. Whether you want to buy a fixer-upper, get into a condo, purchase a luxury estate or get in on the ground floor of a new development, Edmonton has it all.

Why all the selection?

Edmonton is a city in flux. Edmonton is rapidly expanding its borders and with that comes residential expansion of all kinds (as well as commercial growth). This means there is no shortage of new developers coming in to snatch up land and develop niche communities focused on sustainable housing, active living and urban lifestyles. Edmonton real estate literally comes in all shapes and sizes, so for the many buyers out there on the hunt, there is surely something to meet your

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One thing the City of Edmonton has repeatedly acknowledged in recent years is its lack of affordable housing. The real estate market in the city is a very competitive and healthy, which can make it difficult for low-income families to find suitable and affordable housing in Edmonton.

Buying versus Renting
Rental rates in Edmonton are sky-high. When you break down the numbers, some areas charge double what the home actually costs by way of a mortgage. An example would be, if a condo or apartment costs a total of $650 per month in a mortgage, it’s likely being renting out for as much as $1100 a month or more (depending on size, location and features). It’s borderline outrageous, but its also what makes the city such a great investment market, and why it

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First things First

The home financing and mortgage regulations have changed in recent years so it’s important that you investigate the rules of your province. In most cases you can no longer purchase a home without a down payment of some sort. For first time buyers this can be as little as 5% of the home price, and for subsequent buyers it must be at least 20%. Although it may seem obvious, the first rule for deciding when to buy a home is ensuring you have all your finances in place, this includes your closing costs which are generally estimated at about 2% of the budget you are shopping within.

Is now the time?

Assuming you have all your finances in order, you may be wondering if now is the right time to buy – or if there is ever a right time

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Save more than you need
There are a lot of miscellaneous costs that come with home buying. One of the most important first time buyer tips you can get is to reinforce your savings account. Between lawyers’ fees, home inspections, moving costs and down payments, the cost of home buying stacks up quickly. Many first time buyers do the basic mathematics to decide what their price range is and what they will need for a down payment, but few realize the additional costs associated with the process. If you need $10 000.00 for a down payment, make sure you have at least $13 000.00 before going to get a mortgage preapproval. Although you may have the required down payment in place, if the bank does not see that you can finance your closing fees, they may reject

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Are you looking for a condo? Condos can be a great stepping stone for first-time buyers or the only choice for business professionals looking for a low-maintenance home. Finding condos for sale can be as easy as searching for any home and should begin with you deciding on what you need first.

Before you hit the listing sites
Before you hop online and become overwhelmed by what is available in your town or city for purchase, make a list. List what is important to you in a home. Consider the number of bedrooms, special features you may want (fireplace, balcony, in-suit laundry), and what amenities are nearby. By doing this you can set search parameters for the listing site of your choice, and for your realtor. This means you will only see properties that

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