Edmonton Real Estate

Millennials Earn More than Previous Generations - But Is It Enough?

Millennials Mortgage DebtAccording to a new Statistics Canada report studying the economic well-being across generations, millennials are earning more money than previous generations - but it may not be enough.

The data agency analyzed several factors, such as income and wealth, for different Canadian generations, and compared them to each other to see how well they are doing from key financial metrics.

One of the main takeaways from the study is that while millennials earn more money than baby boomers and gen-Xers, they are also burdened with more debt, resulting in a lower net worth.

When it comes to income levels, millennials earn more than gen-Xers and boomers when they were the same age. For example, the study found household income levels for millennials were...

Edmonton 2019 Housing Forecast

2019 Edmonton Housing ForecastThose wanting to sell their home in the new year will be met with some not-so-good news. With an excess of houses up for sale, the Edmonton housing market forecast hints at slower sales and lower prices.

According to real estate firm, Royal LePage, the median home price in Edmonton is expected to decrease 1.9 percent to $378,691 near the end of 2019.

The Realtor Association of Edmonton has come to a similar conclusion, showing single family homes sold for an average price of $421,715 in November. This is 4.55 percent lower than the previous year.

Condominium prices fared even worse, averaging at $218,443,...

Does Weed Hurt Your Edmonton Property Value?

In a recent poll conducted by real estate listings company, Zoocasa, 52 % of homeowners expressed negative sentiment towards cannabis and its potential impact on property values.

Edmonton Property Values & WeedWith the recent passing of the federal Cannabis Act, Canada is heading into uncharted territory. The act will allow Canadians to purchase and grow up to four plants in their homes for personal use.

There is a very real sense of trepidation among Canadians when it comes to the potential effects of cannabis on property values, and rightfully so; an individual's personal residence is usually the largest investment they will make.

Among the findings of the poll:

    57 % believe that growing the legal amount in a home would devalue the...

Condominium Insurance

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...

Northern Views and Southern Blues

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...

5 Real Estate Agent Tricks and How to Steer Clear of Them

Real Estate Agent TricksHave you ever heard the saying one bad apple spoils the whole barrel? Well it is wholly untrue and, unfortunately, the same stereotype exists in every profession, including the real estate business. There are those who conduct themselves unprofessionally in every industry and those are the ones that people tend to remember. Conversely, there are numerous Edmonton realtors that do their job and do it well – those that will get you the best return on your investment. Finding these types of agents is crucial to home buying and selling.

To help you identify who will help you and who will not, here are some potential hoodwinks you should to watch out for to ensure you find the right Edmonton realtor for you.

The Imaginary Buyer

A common gimmick that some realtors use is the imaginary...

Keep Your Home Energy Efficient

Energy efficiency is a topic of particular importance to modern consumers. As more consensus is reached regarding how humanity’s actions affect the planet’s climate, it has become clearer to more people that environmentally conscious efforts are the best way to move forward. Here are some of the top technologies and methods to boosting the energy efficiency in your home.

1. Smart Home Technology

Many new smart appliances and other home tech (including temperature control systems) have the ability to link to mobile devices. This allows homeowners to monitor their energy output with real-time data. Some smart appliances even have the ability to pair with smart thermostats like Nest, which can monitor who is in the home and what is in use, adjusting energy use of devices and ...

Tips for Running an Airbnb Property

Airbnb tips

Since it was founded in 2008, Airbnb has seen exponential growth in the vacation rental industry. The innovative company is not without its controversy but, regardless, it remains the easiest way for virtually anyone to list their property for vacationers. If you are considering renting your property on Airbnb, here are some tips to success.

First of all, quality photography makes a huge difference. Consider hiring a professional photographer as the average quality of photographs on the site is quite high. If you are an inexperienced photographer, it will show in your photographs.

Second, a considerable amount of time must be devoted to this process if it is to be successful. Dedicating some time each day will increase your chances at solidifying clients. Since an Airbnb rental requires multiple interactions with guests,...

Tesla’s Solar Roof Tiles, Potential Game Changer

Why Tesla’s solar roof tiles and home battery are potential game changers

On October 28, renewable energy innovator Tesla unveiled its newest product. The company makes a venture into roofing with its new solar roofing tiles. Despite, maybe, people’s initial reaction that may have been similar to “Ok?”, the tiles are functional solar panels that could represent something significant – perhaps, a positive change in the relationship between consumers and renewable energy.

Well sure it looks really cool, but what the actual expletive is the big deal? Why does cosmetic value matter when the true point is sustainable energy?

The new tiles may just represent another product whose cost (immediate or acceded) will no doubt be expensive to implement and will still not achieve the mainstream success needed if a true difference is to be made. Though, on the contrary, they may not.

Looks are Pretty Important

Aesthetics are easily paid no mind but are, nevertheless,...

In Search of the North: Zillow’s Canadian Real Estate Searches Rise In Lieu of Trump Win

hitch hikerIn the fallout after Donald Trump’s unexpected – or maybe expected – win in the American presidential race, Canada could be looking at an influx of population from its southern neighbours. It would appear that large swaths of Trump opposers are looking to jump the world’s largest unguarded border and flee to the Great White North to escape their perceived doom.

The prospective American emigrants managed to crash Canada’s immigration website on election night and the following day with, essentially, an unintended DoS (Denial of Service) attack; not to mention, huge traffic increases in the search terms “Canada immigration,” “Canada,” and “move to Canada” in the U.S were reported by Google Trends.

Seattle-based real estate database Zillow Group is now revealing that some...

Edmonton Needs Infill Homes

Edmonton Needs Infill....

As Edmonton residents witness tremendous growth and the Council examines and considers potential tools to help facilitate and oversee this rapid change, infill remains near the top of my list of necessary changes.

For neighborhoods that have not been dramatically changed since their construction, infill is often considered a daunting concept. In their prime, these communities were lively places underpinned and strengthened by expanding families, flourishing schools, and booming retail centers. However, as time has passed, the demographics of these maturing neighborhoods have shifted dramatically. New families are smaller, and properties that used to hold large, growing families now house one or two empty nesters. In the last four decades, population has fallen by over 70,000 people.

But infill presents the opportunities these floundering communities, and our entire city, need to revitalize cultural and commercial viability, maintain vital infrastructure, and retain schools.

The...

Choosing The Right Property....

When choosing the type of property you want to purchase there are many factors that come into to play. Most often they include price, but for a lot of people they also include lifestyle, family, location, pets and even privacy. This infographic helps breakdown those choices. If you have any questions, or need help choosing the right property for you and your family feel free to let us know.

...

Are You Serious About Buying A Home? Or Just Browsing...

Well, it’s official, you’re obsessed with real estate. You find yourself looking at shiny home buying websites and property pictures in the early hours of the morning, and you investigate every open house sign or posting you see. But, sometimes it’s hard to tell if both your head and heart are in on the idea of home ownership.


If you exhibit any of the following symptoms, you may be a victim of “looky-loo-itis.”

Symptom No. 1: Your search is limited to open houses and internet browsing

Open houses give you the opportunity to explore and enjoy a home, but they are low-commitment, and no one is pressuring you to make an offer. But wait, you say, everyone starts the process with open houses and internet listings, how do I know how much is too much? It’s simple, if you haven’t yet considered moving to the next stage, one-on-one appointments, then,...

Edmonton Tax Assessment vs Market Value...

Paying property taxes some say is the beauty of owning real estate. At times, we meet people who want to sell their home and want to use the value on their property assessment to determine the selling price of their home. We also meet buyers who compare the asking price of a home with the property assessment of the city.

However, your property tax assessment reflects the estimated market value of you property on July 1st of the previous year, and the home’s physical condition as of December 1st the year before.

To determine the market assessed value of your home, the city of Edmonton uses one of three ways, depending on the type of property:

  • The Sales Comparison: meaning the sales of similar properties
  • Income: capitalize the income being generated by the property, when it is a rental
  • Cost: land value, plus the depreciated replacement cost of the improvement.

Clearly, looking at the city assessment to determine a selling or buying price for a home will most likely not...

Property Tax Increase of 4.9% Approved for the Next Three Years in Edmonton

In the city of Edmonton, the city staff discovered cost savings in a number of areas such as a bus scheduling program that will save the city 27 million dollars. These savings will be derived from a proposed tax increase of 4.9% for each of the next preceding years. For the average single family home with an assessed value of $401,000, taxes will increase as follows:

  • 2016 - $109
  • 2017 - $114
  • 2018 - $120

According to Edmonton’s CFO, Todd Burge, “This is a fiscally responsible budget.” Increases in taxes in nothing new. For many years, citizens within the community have dealt with tax increases to pay for various city operations including, but not limited to, neighborhood revitalization, transit, and law enforcement.

While the council members see these dedicated tax increases as a way to find a balance of sorts between giving Edmontonians what they desire and keeping taxes low, the citizens see it as just political fluff.

What is a Real Property Report and Why Do You Need One?

Alot of paperwork is par for the course when buying a new home and many first time homeowners will probably be hearing about some of these for the first time. One piece of paperwork that is absolutely necessary before buying a home is a Real Property Report. Simply put, the Real Property Report is a legally binding document that defines the property lines and lists the structures. So why is this needed? It provides so much more, including protection for buyers and sellers.

Receive a Comprehensive Guide to Property Boundaries

All residents of Edmonton will have their Real Property Report prepared by a surveyor from the Alberta Land Surveyor's Association. The representative will conduct a thorough survey of the land to determine the exact property lines and boundaries as well as all the structures that are currently on the property. The Real Property Report is a legal document that lets owners know if their home is in violation of any zoning bylaws and is necessary for any buyers who wish to make alterations or build any...

What is a Real Property Report and Why Do You Need One?

A lot of paperwork is par for the course when buying a new home and many first time homeowners will probably be hearing about some of these for the first time. One piece of paperwork that is absolutely necessary before buying a home is a Real Property Report. Simply put, the Real Property Report is a legally binding document that defines the property lines and lists the structures. So why is this needed? It provides so much more, including protection for buyers and sellers.

Receive a Comprehensive Guide to Property Boundaries

All residents of Edmonton will have their Real Property Report prepared by a surveyor from the Alberta Land Surveyor's Association. The representative will conduct a thorough survey of the land to determine the exact property lines and boundaries as well as all the structures that are currently on the property. The Real Property Report is a legal document that lets owners know if their home is in violation of any zoning bylaws and is necessary for any buyers who wish to make alterations or build any...

Edmonton & Area Real Estate Consumer Confidence

Each month the CREA (Canadian Real Estate Association) will take a poll on consumer confidence when it comes to purchasing a home. In Edmonton and other major cities in western Canada people seem to feel that right now is not the best time to purchase a home. In turn, as it has created a Buyer’s market.

Now if you are an investor who is looking this is exactly what you want to hear. It provides many opportunities for cash flow and long term investments for your portfolio. But keep in mind that when purchasing real estate it is always an investment…

...

Oil is Down, the Dollar is Down, The World is Ending… Now is an Excellent Time to Buy a Home!

If you’ve been paying any attention to the local and national news, you’ve no doubt heard that the sky is falling. This summer, oil prices fell below $50 per barrel for the first time since 2009, while the Canadian dollar is trading at $0.75 USD – its lowest valuation in 11 years. The Bank of Canada has dropped its benchmark interest rate to just half a percent, and although home prices in cities like Vancouver and Toronto show no signs of slowing, Edmonton and other major Alberta cities are seeing much lower home prices. If you’re considering buying an Alberta home in the near future, there’s no better time than right now. Here are just a few reasons why savvy buyers are snapping up Alberta properties like they’re going out of style.

Sales are Down, But New Listings are Way Up

The Alberta real estate market is most definitely a buyer’s market right now. Sales numbers this year have been dropping, especially in Edmonton, while the number of days on market has risen. The number of properties on the market is also up, which...