For The First Time In Forty Five Years Canada Experiences Falls In Homeownership Rates
Are you put off from homeownership by the ever increasing real estate prices in Canada these days? Statistics Canada have released the latest census for 2016 and it clearly shows that homeownership rates are declining. The rate of homeownership in Canada is now lower than it has been for the past ten years and it is the Millennials that are suffering the most.
More Than 45 Years Since A Decline Like This
The Census 2016 records indicate that homeownership rates across the country are falling. Across the whole of Canada the homeownership rate stands at 67.8%. Compared to the 2011 Census this is a 1.73% drop. If you look at the figures over...
How Blockchain Technology May Change Real Estate
There is no doubt that Blockchain has had a significant influence on the financial services industry and you will be hard pressed to find a segment of it that has not been impacted by this technology. The use of Cryptocurrencies has strongly impacted currency exchange, remittances and payments of all kinds. There has been the introduction of Initial Coin Offerings (ICO’s) and this has strongly challenged venture capital, the investment in stocks and loans for start-ups.
There has been a significant impact from Blockchain on the Real Estate sector as well. It was unthinkable until recently that making transactions via digital channels was even possible for real estate and other high value assets. Transactions in real estate had always been performed in the “off line” mode through face to face interactions with a number of parties. But this has now been challenged through the use of Blockchain. Blockchain...
"Once the distractions of summer are over, the market usually picks up with buyers looking to move in to a new home before the snow flies", says James Mabey, Chair of the REALTORS® Association of Edmonton. "However, it is possible we didn't see a strong performance for unit sales this September because the Bank of Canada raised interest rates twice this summer, putting some downward pressure on buyer purchase intentions. Despite this, consistent average sale prices last month throughout the Edmonton area (and across most property types) suggest the local market enjoys continued health."
Month over month, unit sales volume was flat or down across all categories, which is typical for the month of August.
“Price conscious buyers appear to be turning their attention to semi-detached product as opposed to condominiums for the best value. Changes to mortgage rates and qualifying rules seem to be keeping the entry level market a bit quiet and those that are taking advantage of the amazing selection are very value conscious” says James Mabey, the REALTORS® Association of Edmonton Chair.
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With Open Data about Edmonton you can Discover all manner of things
Back in 2010 Edmonton began making its data public. An official city policy was passed on public data in 2015 and this has lead to people, schools and businesses making requests for precise data sets.
The city’s Open Data platform allows people to find out amazing things such as Edmonton’s best yards, types of 311 complaints per neighbourhood and even which book is requested most at its libraries.
Open Data was in receipt of around 160 requests last year and was able to fulfil data sets for around 154. In the past, information has either not been available or privacy concerns prevented requests from being fulfilled.
Soumya Ghosh is the director of Smart City and commented that the size of the data wasn’t important but its application...
“It’s typical for unit sales to slow in July, which is shown in the year-over-year comparison,” says James Mabey, REALTORS® Association of Edmonton Chair. “Inventory is still strong for buyers, and marginal adjustments in year-over-year prices indicate a stable market for sellers.”
“Sellers must remain patient but mindful of their positioning in the market with many options for buyers to consider, so consulting with their REALTOR® to remain competitive is essential,” says Mabey.
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A Brief Look Into The Growth Of Edmonton
If you are looking for one of the fastest growing cities in Canada, then Edmonton is the city that should definitely be on your radar. Reports from the city show that Edmonton is becoming one of the fastest growing cities in Canada the best thing about all of this is that this growth is not expected to slow down anytime soon.
According to the information in the 2017 Annual Growth Monitoring report, Edmonton is facing some challenges with this rapid expansion.
Before we move on here is a quick definition of what the Annual growth report is. The 2017 Annual Growth Report is a report that gives an overview of different information such as the growth, demographics and various developments which are happening in a particular area.
Average prices for duplexes/rowhouses and condominiums were stable in June.
“Affordability and value are key drivers across all property segments. Buyers can be discerning, but with stable prices and potential interest rate increases around the corner it is important for buyers to get off the fence”, says James Mabey, REALTORS® Association of Edmonton Chair. “Patience is a virtue, however, as a seller if you are getting good feedback, but aren't attracting an offer it may be time to refresh with your REALTOR® whether a price correction may be necessary."
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Investing or paying off a mortgage faster is one of the biggest questions many people want the answer to. It's a question most people struggle with on their quest for financial freedom. The truth is the answer to this question depends on different factors. Each situation is different, and you must understand your situation before you make a decision. If you'd like more information on whether you should invest your money or whether you should pay off your mortgage faster then you'll find this information valuable. In this post, we’ll take a look at why it might be better to pay off your mortgage first in some situations, how to do it and why it might sometimes be a better option to invest your money first.
Should You Pay Off Your Mortgage Faster?
For many people, the dream is to get out of debt and start living their lives....
"We are in the middle of our busiest season for real estate,” says James Mabey, REALTORS® Association of Edmonton Chair. “More sellers are entering the market and are motivated to move their properties before the summer months, which provides the best selection of properties for buyers who are actively looking and taking advantage of the increased number of listings typical for this time of year.”
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3 Hi-Tech Gardening Tools To Take Your Gardening To The Next Level
Technology is becoming a regular convenience in our everyday life. Many of the things we couldn't do years ago we could now because of technology. One of these things is gardening. With the new technology on the market today, gardeners have the ability to use their smartphones to enhance their gardens. Hi-tech gardening tools take the hassle out of gardening. How? By allowing you to use sophisticated plant monitoring technology and tools. If you live in Edmonton and you’d like to take your Edmonton home gardening efforts to the next level this post is for you.
Plant sensors allow you to track the humidity, light levels, soil moisture, air temperature and the level of nutrition in the soil. A plant sensor lets you know the status of your garden especially if you have other responsibilities in your life that take you away from your garden. If you have an Android or IOS phone, you...
Six Ways To Transform Your Home Into A Smart Home
As technology moves forward, we are beginning to see significant advancements in smart home technology. Smartphones and smart technology give us the ability to do many of the things we couldn't before. With smart real estate technology, we have more convenience in the home. More people are seeing the benefits of turning their homes into smart homes. If you are interested in turning your Edmonton home into a smart home, then the six steps in this post will help you to do so.
What Is A Smart Home?
A smart home is a home that uses integrated automated systems that allow homeowners to control different functions in their home with their smartphone, laptop and tablet devices.
1. Smart Lighting
Lighting is a critical part of you home, and with smart lighting, you can control the lights in your home with your smart device. Smart lighting is perfect for setting the mood in your home especially...
“Average monthly prices across all categories have increased,” says James Mabey, REALTORS® Association of Edmonton Chair. “Despite slightly slower April sales, the spring buying season is off to a solid start.”
“Inventory levels and unit volumes continues to increase as the weather warms, which is typical for the market at this time of year,” says Mabey.
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Edmonton Top 5 Neighbourhoods
When looking for a place to live there are many things you must consider. Things like the commute and the different amenities available. Are you thinking about moving to Edmonton and need to find the right neighbourhood? Well, this post should give you some direction to help you find the right place for you and your family. In this post, we’ll take a look at Edmonton’s Top 5 Neighborhoods. After reading this post, you should know more about the top areas in Edmonton and find one that suits your needs.
Grovenor, Zone 21
Looking for an affordable neighborhood that’s close to Glenora and...
“It is promising to see positive movement in the condo market. We have seen a large increase in both new and resale inventory, so it is good to see sales starting to follow suit,” says Mabey.
“We generally see activity in the housing market start to increase at this time of year,” says James Mabey, REALTORS® Association of Edmonton Chair. “Buyers can look forward to more inventory to choose from and sellers can count on more buyers in the marketplace.”
Edmonton Monthly Market Statistics
How To Find The Right Insurance For Your Condo
If you own a condo, there are a few things you need to know to keep yourself from the different risks that come from owning one. Although a condominium association covers different parts of the complex, you're still required to get separate home insurance.
Having building insurance policy is the best way to protect a condo building. A building insurance policy covers areas such as elevators, the lobby, and the gym. Building insurance only covers these areas and does not include the personal things owned by the condo owner. Also if you make improvements or cause damage to another unit, this insurance will not provide you with coverage.
After learning this, you now understand why it's important to get insurance for your condo. Although it's not something you have to get it provides you with protection from the different risks that come with owning a condo. Just like having home insurance having this type of coverage is required for the protection...
The urban environment is constantly changing and this affects the lifestyle of all residents of Edmonton. One of the major projects undertaken by the City is the Edmonton infill which has been in effect since 2010 and has achieved considerable progress to date. Here you will learn the most important things about it and how the city and the owners and buyers of Edmonton homes will benefit from it.
Understanding the Infill Concept
While it is applied in various spheres of life and scientific fields, the concept of infill is most commonly used in residential development and construction. It is the filling of empty lots within existing neighborhoods. That is why it is often formally referred to as urban infill. Most often, the term is used to describe the building of single-family homes. However, in the case of Edmonton,...
Drones: The New Way to Sell Real Estate
A great number of real estate companies are turning towards drones to sell their properties. Although this option is not authorized in every city of the world, Edmonton MLS has gained a lot of resources by using this flying device which shoots compelling photographs.
Reasons for Using Drones
While this option is still pretty new for many real estate agents selling Edmonton homes, it’s rapidly gaining popularity. Before, real estate agencies would use it to sell luxurious properties which needed a shot from every angle. Here are a couple of reasons why more and more companies felt the need to turn towards the use of drones:
- It beats ground-based photography – Try to compare a photograph of the front of a house with the dramatic angles provided by drones. You just can’t beat...
“As we head into the spring buying season with stable prices, coupled with increases in unit sales and seasonally-appropriate inventory levels, it seems like a positive sign for our market,” says James Mabey, REALTORS® Association of Edmonton Chair.
“As the weather warms and we begin looking towards spring, both buyers and sellers are making some of the biggest financial decisions of their lives,” said Mabey. “A professional REALTOR® is here to help you through it.”
U.S. interest in Canadian real estate sees a steep upsurge following Trump’s presidential win, according to recent report
According to a recent report published by Royal LePage Americans, are progressively intrigued by Canadian real estate following President Donald J. Trump’s political victory in Washington.
Royal LePage’s web traffic that originated south of the border saw an unprecedented upsurge (329 per cent) on November 9, the day following the U.S. presidential election. The week following the election saw American browsing numbers skyrocket, quadruple in fact, rising a massive 210 per cent from just one year ago – numbers that could directly affect the Alberta real estate market and indirectly affect the Edmonton MLS® market.
Royal LePage said that this pattern of high volume from the land of red, white and blue was sustained for the remainder of 2016,...