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.
With 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...
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...
"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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“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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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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“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.
To view all Edmonton Market Statistics Click Here
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...
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....
December is here and if you are looking to enjoy some holiday activities or practically anything else, you have come to the right place. The following is a collection of the happenings this weekend in The Big E.
Light-Up & Celebrate the Season at the Alberta Legislature
The Alberta Legislature’s annual Light-Up and Celebrate the Season is coming home for the holidays with musical performances throughout the month of December. Close to 70 musical ensembles from across Alberta will be featured on the rotunda’s grand staircase with daily performances. The Legislature grounds will be featuring thousands of lights – perfect for a festive meander with a loved one – and at the centre of it all, a 60-foot spruce dressed with over 5,000 sparkling lights.
Who – This event is for all ages and admission is free! Everyone can enjoy the Legislature’s...
Edmonton Infill Police Looking After Residential Development and Residents
Consisting of peace officers, development officers and safety codes inspectors, Edmonton’s infill police have been operating since July 2016. Until the beginning of November, they have inspected over 300 properties under construction.
Their job is to ensure that builders maintain their construction sites clean, tidy and fenced. To date, they have issued more than 100 fines and nearly 400 warnings. The police discovered 61 infill properties without a development permit or in violation of the issued permit. The builders responsible will have to modify the homes or halt their activity and obtain a new permit.
As the infill police have been operating for a relatively short time now, a major part of their work is to educate builders, owners and other parties involved in the residential development process. Their main goal is to bring major improvement to construction practices and bring down the stress for neighbours....
Top Places in Edmonton to Get Your Dessert Fix
We all have those moments where the only thing we wish for is the warm (or cold), sugary embrace of our sweet treat of choice. Here are a few places in Edmonton that you can go in those moments to find some sweet, sweet respite.
Duchess Bake Shop
This little bake shop on 124 St. has garnered extended national and local media coverage in addition to numerous accolades, including being called “one of the world’s best bakeries” by the Globe and Mail and making it onto Buzzfeed’s list of “23 bakeries around the world you need to eat at before you die.” Enough said? Its vast selections of handcrafted traditional French pastries, pies, cakes and macarons make for not only a delicious dessert but a visual one as well.
You can find Duchess in the trendy neighbourhood Inglewood & ...
1. Strathcona - This neighborhood offers a wide variety of style and class due to the many independent, locally owned stores running up and down Whyte Avenue.
2. Glenora - The scenic touch comes from the Saskatchewan River valley. The river is just one of the natural scenes; it is also accompanied by the McKinnon Ravine.
3. Ritchie - The residents enjoys good access to the nightlife of nearby Whyte Avenue and the Mill Creek Ravine entertainment district.
4. Westmount - This neighborhood has been going through a revitilization period with some home owners building new construction or rehabilitating their current home.
5. Oliver - This central community offers shopping centers, lofts, and apartments from old converted warehouses. It has a cutting edge feel.
6. Garneau - This area are mixed with high rise condominiums, apartments,...
Looking for ways to improve your home without breaking the bank? Whether you're getting ready to sell your home or want to give your home a fresh new look for your own enjoyment, we've got 10 simple ideas for you to consider.
The best way to improve home values on a budget is to do what needs doing–and nothing more. Why buy a new ceiling fan when replacing the blades will do? Why paint the entire interior of your home when a feature wall will work just fine. Taking this approach allows you to make several small improvements instead of taking several larger projects. In short: Know your buyers. Choose projects carefully. Know when to quit.
The actual cost and payback for each project can vary, depending on both your home's condition and overall real estate market.
While home prices in the Edmonton remained steady last month, the number of homes in the Edmonton market took a big jump. The average price of a residential home was $374,379. The average days on market was 41.
There were 8,033 residential properties on the market at the end of April, up 18 per cent from the same time last year
For Karen Becker, the sale of her home in the Southwest Edmonton neighbourhood of Skyrattler will be the end to an almost year-long saga. More than three years ago, Becker bought a 1980s-built house in the mature, treed neighbourhood with the intention of coming within inches — the width of the house’s external walls — of tearing it down. But, instead of demolishing the four-level split, 1,400-square-foot home, she hired contractors to strip it down to the studs, turf the popcorn ceilings and start over.
“It was an opportunity to build a house in a mature area without having to start right from zero. It was fun — it was something you want to do once in your life, and that’s good enough,” explains Becker.
Located on a tree-lined street and featuring an easy-to-landscape yard and quick access to Blackmud Ravine, Becker’s house should have sold quickly. Undertaking a large renovation to this attractive...
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.
Prices in the Edmonton and Area market remain stable. For people looking to sell this is a good thing. Because the inventory is still high it remains a “Buyer’s Market”. So Seller’s definitely needed to price their homes correctly or find creative ways of generating traffic to get the price for their home.
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.
Edmonton home buyers who are waiting for the market the market to bottom out before they buy a home will have to wait a little longer. Edmonton-area home prices rose slightly in March compared to the same month last year despite Alberta’s economic downturn, Realtors Association of Edmonton figures show Sale prices have dropped during the economic downturn which means Sellers have to price their home aggressively and accordingly.
Right now every community has a large number of homes to choose from, so if you’re in the market for a home or condo as a Buyer you definitely have the upper hand. If you have any questions in regards to the Edmonton and Area real estate market feel free to let us know, email@example.com