Real Estate Blog

Many types of housing are available at a wide range of prices, so finding the right home for you and your family may take some effort. Like anywhere, prices depend on:

  • local economic and employment conditions
  • the number of houses and apartments available

When buying a home, you can either:

  • hire a professional real estate agent to manage the purchase for you or
  • buy the property directly from the owner yourself

You will also need to consult with professionals, including:

  • an appraiser and home inspector to assess the worth and condition of the home
  • a lawyer to protect your interests and to facilitate the transaction
  • a lender or mortgage broker to arrange for financing 

Choosing a neighbourhood 
There are many

1,017 Views, 0 Comments

For a first time homebuyer, realizing you’ve finally saved up enough for a down payment is a proud and exciting day. But where so you begin? There are many things you’ll want in your new home, and maybe a few different neighbourhoods you would consider living in.

Begin by searching a neighbourhood or city you are interested in, within your price range. This will give you some idea of the amount of homes available within your budget, even if you don’t necessarily find anything you love right away. Secondly, you should contact a mortgage broker. A broker will tell first time homebuyers exactly what you can afford, which may mean adjusting the budget you already had in mind. A broker will take into consideration what you have saved, your credit, your

1,758 Views, 0 Comments

According to BMO capital market, longer-term fixed mortgage rate may be sooner better deal for homebuyers than variable rates. Variable mortgage rates has been cost effective for homebuyers.  As economy is improving to continue long term rate will be beneficial for home buyers. Bank of Canada and Federal Reserve might increase interest rates in 2015.

1,704 Views, 0 Comments

The Bank of Canada is keeping its lending rate at 1% until 2015.Bank of Canada recognized that inflation is little higher than expectation and economic growth is little bit stronger. Bank of Canada also expecting inflation rate between 1% and 3% . Five year lending rate at 5.24% as of March 5th , 2014 which is down from January 22nd 2014 statement.  Next interest rate statement will be on April 16th 2014.
2,572 Views, 0 Comments

CMHC has increased its mortgage loan insurance premiums for homeowner and will be from effective May 1, 2014. It does not apply to mortgage currently insured by CMHC.
According to CMHC, higher premium will result in an increase of approximately $5 to their mortgage payment.
Effective May 1st 2014 rates will be as follows
Loan-to-Value Ratio Standard Premium (Current) Standard Premium (Effective May 1st, 2014)
Up to and including 65% 0.50% 0.60%
Up to and including 75% 0.65% 0.75%
Up to and including 80% 1.00% 1.25%
Up to and including 85% 1.75% 1.80%
Up to and including 90% 2.00% 2.40%
Up to and including 95% 2.75% 3.15%
90.01% to 95% – Non-Traditional Down Payment 2.90% 3.35%

 

983 Views, 0 Comments

According to Realtors® association of Edmonton active listings in February 2014 was up about 7.3% as compared to January 2014 and sales was up by 24.4%. Prices rose up to 2.9% for residential properties (including single family, condos, duplexs and row houses).Residential properties listed on MLS® at the end of February were 3906.Average Days on market was 54.

 Highlights of MLS® System activity

900 Views, 0 Comments

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

1,212 Views, 0 Comments

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

986 Views, 0 Comments

The Edmonton real estate market is promising to remain healthy according to forecasts announced by the Realtors Association of Edmonton early in January. According to this announcement, current home owners can expect to see a 3% increase in the value of their single-family homes, with condominiums and townhomes seeing an approximated increase of 2%.

First Time Buyers

For first time buyers these statistics can seem alarming, but what the Association also stated was that the sales of condominiums and alike homes will increase this year – with about 11 500 predicted to be purchased (an increase of 1000 from 2013). The reason this increase is predicted is because while the Edmonton real estate market is healthy and growing, condos and townhomes (also

1,041 Views, 0 Comments

Edmonton Homes for Sale are popping up every minute and selling out faster than you can blink. In the South end of the City alone, there are over a dozen developments in various stages of completion. Now is a great time to buy in this part of the City because you’re pretty much guaranteed to see a return on your investment.

While you may only be purchasing a lot at this time, depending on the development, one thing is a fact: getting in on a development in the earliest stages is going to offer you the best prices (on lots or homes). As developments complete, construction noise dissipates, landscaping is finished and the area more or less settles. All the amenities and features of the community are in place for residents and a whole neighbourhood is now

2,868 Views, 0 Comments