Looking to buy or sell a home in the Edmonton area? Good news! Edmonton’s real estate market is demonstrating some noticeably positive activity. While much of this bounce-back can be attributed to the province’s re-opening, buyers and sellers are eager to take advantage of the many perks our current market has to offer.

1. Ultra-Low Interest Rates 

With Canada’s interest rates sitting at a historic low of 0.25%, the Edmonton real estate market has seen an influx of buyers eager to secure an affordable fixed or variable mortgage at a great rate. While the Bank of Canada has cut its key overnight interest rate three times in light of COVID 19, experts predict that rates will stay low even as the pandemic ends.

2. A Buyers (and Sellers)…

268 Views, 0 Comments

Quiet, ravine-side living in Edmonton’s central northwest! Grovenor is a highly coveted older neighbourhood first settled in the early 1900s. Thanks to its established status, Grovenor is ripe with charm, full of mature trees, walkable amenities and, of course, scenic ravine views.

Single-Family Living 

While Grovenor is home to a few duplex, townhome and low-rise apartment options, the area is more commonly known for its variety of affordable, single-family homes – which account for the majority of real estate in the area. Even better, home buyers have their pick of older, fully upgraded character homes, modern new infill properties and everything in between (with infill properties steadily on the rise since the 1960s).

Check out…

1249 Views, 0 Comments

Effective July 1st, 2020, the Canada Mortgage and Housing Corporation (CMHC) is expected to tighten requirements surrounding insured mortgages. How will the changes affect home buyers and the Edmonton real estate market? Here’s what to expect:

What Are the Changes and Why? 

According to officials, COVID 19 has made Canada’s financial markets more vulnerable and, as a result, measures must be taken to protect the economy. Specific measures include:

1. Increasing the minimum credit score to qualify for a mortgage from 600 to 680 (for at least one borrower).

2. Limiting the Gross Debt Service Ratio (GDS) from the standard 39% annual income to 35%.

*Your GDS Ratio is the percentage of income required to pay all monthly housing-related costs…

213 Views, 0 Comments

Despite an unprecedented slow start to the year due to COVID-19, the Edmonton real estate market is in full swing. Current market statistics have revealed June to be a record month for home sales in and around the capital region.

According to the REALTORS® Association of Edmonton, the city’s total number of unit sales for June 2020 increased by over 13% compared to May 2019. What’s more, the recent easement of pandemic restrictions has resulted in a massive influx of buying activity – and a 77.27% increase in home sales from May 2020 to the end of June.

New listings are also on the rise, with month over month numbers increasing over 20% from the previous month and 16.57% from the previous year. While Edmonton’s inventory did see a slight…

278 Views, 0 Comments

Has your home listing expired?

It’s our opinion that your home should have sold. No, really! We know you did everything you could do (or thought you could do) to help sell your home quickly and for top dollar. But the truth is, even with the help of an agent, even the best Edmonton homes don’t sell. And here’s why:

Your Home Needs the Right Positioning 

In today’s competitive market, accurate pricing is crucial. While there’s no doubt you’ve put a lot of love into your property, what you think your home is worth vs. its actual current market value may not be the same (sometimes it’s even worth a whole lot more). The trick is to perfectly position yourself within the market to avoid overpricing (scaring buyers away) or under-pricing (taking a…

197 Views, 0 Comments

Thinking about buying a home? Here are six common and costly mistakes to avoid:

1. Avoiding the Pre-Approval 

When it comes to home buying, few things are more disheartening than falling in love with a property only to discover it’s out of your price range. That’s why it’s essential to know how much home you can afford before you hit the market. Not only will a pre-approval letter help you narrow down your home search (saving you a ton of time), but it will also ensure you’re taken more seriously by sellers.

2. Overlooking Closing Costs… 

Closing costs are additional one-time fees associated with purchasing a home – they’re also frequently overlooked by buyers. Typically ranging between 1.5-4% of a home’s overall purchase price,…

745 Views, 0 Comments