Edmonton Real Estate Selling Tips

Questions to Ask a Contractor When Discussing Renovation Plans

 

Edmonton ContractorRenovating your home is fun and exciting. It allows you to bring to life that great idea you've had stashed away, a vision to make your home truly your own.

While you may not lack the enthusiasm, you may not have the time or possess the expertise to carry out the task of renovating your home. Unless you're prepared to put in the work (and learn things along the way), it's always a better option to hire a professional.

When discussing your project with a prospective contractor, it's prudent to focus on some of the more crucial aspects of the job they will be doing. Asking the following questions will help ensure the project is carried out smoothly, on time, and without hurting your wallet.

  1. Is my plan achievable?

Asking...

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...

Are You a Collector or Hoarder?

Do you have a fondness for collecting, be it comic books, coins, sport memorabilia, shoes, or ninja weapons?

Stars Wars fans fork over insane amounts of money for anything even tangentially related to the Star Wars franchise. Basketball fans wait for hours, even camping out near stores, in order to get their hands on the the latest sneakers. Bibliophiles search far and wide to acquire rare and elusive first editions of iconic books.

Most people have at least one personal obsession they dedicate time and money to. The question is: Are you a collector or a hoarder?

The Characteristics Of A Collector

CollectorCollectors have a keen eye for what is valuable and worth procuring. They are passionate and dedicated, and ensure what they purchase is cared for and has some underlying...

Tips For Buying and Selling a Home at the Same Time

Buying and Selling At The Same TimeSelling your home can take up a lot of time and energy. Showcasing your home to prospective buyers, advertising, negotiating, preparing a mountain of paperwork, etc. Now try doing that and buying a new home at the same time! While this may seem like a monumental task, some shrewd and careful planning can make the process smoother than you think.

Assess Your Personal Financial Situation

Is it economically feasible for you to buy and sell a new home at the same time? You should review your income, expenses, job stability, level of debt, and credit rating, among other things.

Given the difficulty of the undertaking, you should ensure that you have the financial flexibility to weather any contingencies that might arise.

Research The Real Estate Market...

Drones: The New Way to Sell Edmonton Real Estate

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....

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 buyer....

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, being...

Concrete Countertops: Are they worth the investment?

Concrete Countertops

So, you’ve decided to renovate your outdated kitchen in the hopes of improving their property value and accelerating your sale.  You’ve always wanted to try out customized, concrete countertops, and are wondering if concrete is the best choice in Edmonton’s market.

While not as common or popular as hallowed and oft-envied granite countertops, cement countertops have gained popularity in recent years because of their versatility, customizability, and durability. Still, as a real estate agent looking to turn over the property, there are a few variables you need to consider before giving your go to contractor the green light. 

What are the benefits of concrete countertops?

When renovating or updating, Edmonton home owners often choose concrete countertops because of the versatility and customizability they provide. Unlike granite, marble, or laminate, which come...

10 Ways To Increase Your Home On A Budget

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.

...

Turn Your Home Into A Rental

Moving?

How to turn your current home into a rental property

Have you been preparing to move into a new home, but aren’t quite sure what to do with your old property?

You really have three options: sell, keep, or rent.

The key to making the right decision about what option best suits your situation is to research and be well informed, so take a look at a few of the tips and guidelines below. Hopefully this information will help you figure out whether renting is the best solution for you.

Down Payment

Want to get into your new home, but don’t quite have that down payment saved up? You can go the same avenues as first time home buyers, such as borrowing money from a family member, or applying for an unsecured line of credit, or, if you’d like to keep or rent your current property, you can leverage the...

Edmonton Real Estate Stats | April 2016

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.

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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.

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Edmonton Real Estate | March 2016

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, info@bestedmontonrealestate.com

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Edmonton Real Estate February Stats

Residential inventory in Edmonton & surrounding areas saw another increase in February, surpassing 6,000 listings on the market, ending the month with 6,681 properties for sale on the MLS System. If you are in the market or thinking of purchasing a home this presents a great opportunity for you to buy.

Despite this inventory growth, prices have moderated only slightly compared to last year, so home owners and sellers can maintain some confidence that housing prices are remaining stable.

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Edmonton Real Estate Stats | December 2015

2015 was a steady year for real estate in Edmonton. Edmonton and the surrounding areas experienced a decline in sales due to economic uncertainty, but we saw a slight increase in price that demonstrated that the market remained relatively stable. This began to cool in the fall months as inventory remained higher than normal.

We continued to see home buyers take advantage of low mortgage rates. An influx of listings at the beginning of the year, meant that buyers had a larger selection of homes and were able to take more time selecting properties than in previous years.

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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...

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...