Purrfect Properties Blog

Posts Tagged ‘RE/MAX Realtor Edmonton’

Is it Time to Retire to the Island? What’s going on there anyways?

Monday, September 29th, 2014
Vancouver Island Real Estate Market 2014

Vancouver Island Real Estate Market 2014

The Vancouver Island Real Estate Market

I used to live on the Island, Campbell River to be exact. When I had left, it was just at the start of the recession and everywhere I looked you saw ‘For Sale’ signs; be it for boats, cars and houses, even estates. It was so sad to see stability move out, people go back to where they lived before the downturn and it was impossible to look anywhere for economic confidence and financial security. Housing and Yacht prices tanked. Fast forward a few years and we are starting to see some good news.

The Island is built on a small number of industries and one of those industries is Tourism. Before, when you would travel down the road, you couldn’t get a half kilometer without seeing some US Citizens huge RV and ‘SUV’ in tow. It’s just not like that anymore, though it is a bit better.

Tourism is up, single family home sales are up, condo sales are up, rental rates are up and rental vacancy is down. That all points to a rebounding market and increased consumer confidence in the area. It’s no wonder Chinese developers are looking to build a 270 room in Nanaimo where the average single family home sells for $361,0964 and condos sell for $252,273. This is the most active region on the Island for real estate.

Across the Island, the average selling price of single family dwellings has reached $337,664 – up 2% in comparison to the annual 4-6% we see here in Edmonton, as well as being up 11% in total volume. Average condo prices fetch $240,101 on the Island.

The summer of 2014 saw the highest occupancy numbers Nanaimo has experienced in years with rates up 9.2% from last ago. The increase in tourism is attributed to special events and the strengthening US dollar.

Check out Tourism Nanaimo’s award winning campaign “You Won’t be Sorry” to see what is causing all the stir.

With the increase in rental rates, the decrease in vacancy rates, improved employment rates, immigration and rising rental demands – The Island is uniquely positioned to offer cash-flow investment opportunities based on the combination of high rental rates and affordable purchase prices.

Perhaps it’s time for you to get in and get building equity.

Canada Housing Market Confidence

Tuesday, September 16th, 2014

Canadian Housing Market Confidence

RBC recently finished their long running Annual Home Ownership Poll in Canada. Poll and year number 21, to be exact. The news and outlook of entry buyers is encouraging – especially after witnessing how recent financial legistlations have left buyers positioned in our fastest growing economy of Edmonton. Here are some of the interesting points to note:

Young Canadians, aged 25 – 34, feel that housing remains a very good investment. Nearly nine in ten (86 per cent) of them believe that owning a house or condo is a very good investment, up from less than eight in ten (78 per cent) in 2013.

This confidence in the housing market is reflected in Canadians’ buying intentions. Nearly every region in Canada has shown an increase in their likelihood to purchase over the last year. The top factors considered by those who intend to buy this year include the stability of their job situation and manageable debt levels. Confidence in these areas indicates that Canadians are more mindful of their finances than in 2013, which directly impacts the ability to afford home ownership.

In particular, interest in purchasing from the 25-34 age group has increased significantly from one in four (25 per cent) in 2013 to nearly half (41 per cent) of respondents in 2014.

Also notable in the same poll results, is Canadians’ willingness to go it alone when it comes to home buying. Granted, the majority of Canadians (62 per cent) still intend to buy a home with their spouse or partner, but now more than one in four (28 per cent) Canadians intend to buy a home by themselves.

Alberta Highlights: Alberta saw an increase in likelihood of purchasing this year, up from 22 per cent in 2013 to 28 per cent in 2014. Perceived home price increases may also be key for Albertans, as more than half (52 per cent) believe that home prices will continue to rise next year.

British Columbia Highlights – In B.C., the percentage of those who are likely to buy a home has increased slightly, from one-in-five (20 per cent) in 2013 to more than one-in-five (22 per cent) in 2014. With four-in-ten (41 per cent) believing that housing prices will continue to rise next year, it signals that British Columbians want to get in while they feel they can and reinforces the positive investment sentiment.

Where do you want to be in 10 Years?

Monday, August 25th, 2014

I don’t believe prices will be coming down in the next 10 years.  With the projected work the province has coming up in the next three years, steadier and rising prices in the states as well as the fact that Edmonton is third largest and fastest growing Economic center in Canada – it is very easy for me to say – No, prices won’t be coming down by next year or most likely for the next decade.

Quotes from the Housing Market outlook – Canadian Edition  – Third Quarter 2014

“Economic growth in Alberta is expected to lead all provinces in Canada over the next two years.”

‘Consumer spending is also projected to rise, supported by strong population growth and rising wages.”

“The average MLS sales price is projected to increase to $396,800 in 2014 and then to $407,000 in 2015.  A higher level or demand relative to supply will help to lift resale prices in 2014.  As 2014 progresses, new listings are expected to increase and continue rising into 2014.”

 

Edmonton Housing Outlook 2015

Edmonton housing prices going up again in 2015!

If you can get a home now – I encourage you to do so.  I often look at townhouses that were bought for $77,000 10 years ago and are selling now around $214,000.  The question is – where do you want to be in 10 years?

How Big is Real Estate Risk? … An Edmonton Realtors’ look into the 2013 Calgary Flood.

Tuesday, July 2nd, 2013

A Mitigated Risk.

That’s what they said when they decided to open the gates, knowing the result would be flooded neighbourhoods in Calgary.  They opened the gates anyways.  Within hours, the flash flood turned Emergency, covered homes and land within the city. In moments, people who resided in the area lost their belongings, inside and out of their homes.  You should know, insurance doesn’t cover ‘Acts of God’. A definition often defined by convenience and not circumstance.

My Grandpa owns and lives in one of those unfortunate homes in Bowness. When my cousin told me that she was Kayaking to his house I wasn’t fully appreciative of what that really meant.  A week after residents were allowed to go back into their homes, I went down to take a look at what was going on.

Calgary Flood 2013

A look down Grandpa’s road, complete with Porta potties and Volunteer Workers.

Now, volunteer efforts from supplying water, to cooking food, even to Edmonton Firefighters who showed up on his front step to do the heavy lifting have to be commended.  Thank you to all Edmontonians and Calgarians who ended up helping Joe, we sure do appreciate it.

Water in the basement.  Ha!  This has killed a deal for me in the past.  Small, tiny amounts of water, usually caused by a lack of eaves-trough headers or improper sloping around the home.  95% of all homes we inspect have improper grading. Gardens are recommended to be planted around the home to help with absorption.

Calgary Flood 2013

Even with planters around the home, the water level rose above them. See the line of water above.

 

 

 

Grandpa’s home, did not have one drop of water come into the basement, before last week. Yet in one day, everything and I mean EVERYTHING below ground was wiped out.  Erased.  Gonezo’s.

 

 

Calgary Flood 2013

This was a fully finished basement with sauna, wetbar, snooker room, bedrooms, bathrooms, fireplace, furnace, hot water tank and laundry. All gone.

Calgary Flood 2013

The place the stairwell to the basement used to be. Water went up to the ceiling.

 

 

 

 

 

 

So what  do you do?  How do you reduce the risk?  I say reduce the risk, because that’s just it… Real Estate Investing has it’s risks and rewards.

– Make sure you have your home owners insurance.

Calgary Flood 2013

The Electrical panel, plumbing lines, hot water tank, furnace, fireplace etc all have to be replaced.

If your home is too high you may be at risk for windstorms, too low and you may be at risk for flood.  The possibilites are endless that you may come into contact with.  So why invest?  Why move foreward with Real Estate?

My Grandpa owned his home for 50 years before this occured.  Even with the costs of repair and replacement, he will still come out ahead when he wants to sell, as he’s been in his real estate game for a long time.

Often, I get asked by clients if they will be able to make a profit in the years ahead on the purchase they are about to make.  Yet, I don’t have the crystal ball they are looking for.  A person moves foreward with Real Estate because they recongnize the risks and they recognize the rewards.  They believe they have more chance of reward than of risk and they are ready to take that calculated risk.  Not a mitigated one.

Keep your insurance up to date people, and don’t buy a few feet from the waters edge.

Now that’s the Cats Meow in Real Estate.

 

www.17807-111Street.com European Elegance in Chambery

Friday, March 15th, 2013

17807-111Street.com EUROPEAN Elegance in Chambery

 

Cherry Gleaming Hardwood in this 3,450 ft2 Total Living Space, 3+1 Bedroom, 3 1/2 Bathroom, 2-Storey in Quiet Chambery. The Gracious Foyer is illuminated by Chandelier Lighting. Be greeted by your Beautiful Formal Dining room.

Columns, Archways, Oversized Windows and Detailing throughout. 20 ft of Granite with Maple and Glass Cabinetry in your Kitchen boasting Stainless Steel appliances.

California Knock Down Ceilings with borders. His and Hers Jacuzzi Ensuite, In-Floor heating on the main and lower levels.

Engineered Hardwood, Bedroom, Jacuzzi Bath, and Wet Bar on the lower level. Drywalled and Insulated Garage with rough-in for heater. No maintenance deck. A Distinctive Home made with Quality in mind.

9ft Ceilings throughout the home, landscaped yard, italian ceramic tile, extended breakfast bar, granite in bathrooms, closets to spare, recessed lighting, stereo system throughout home, iron railings, beautiful staircases, vaulted ceiling bonus room, large mud room, main floor laundry with folding table, wood organizers in oversized closets, 149 gallon hot water tank.

Now that’s the Cats Meow in Real Estate.

 

Built: 2006      Size: 2356.2 ft2 AG

Municipal address: 17807 – 111 street Edmonton, Ab T5X 6J3

Legal Description: Lot: 13 Block: 97 Plan: 0325052

The Catch All Room – Is it Your Challenge to an Edmonton Home Sale?

Sunday, February 17th, 2013

What do we do with a Catch All Room?

Catch All Room Before - Cats Meow at Remax Real Estate

Is this a Challenge to the Sale of Your Home? A photo showing a “Catch All” room before alterations.

 by The Cats Meow at Remax Real Estate – Jeanine Boutet 780 916 9739 – chat@edmontonrealestatesells.com

When Selling Your Home, Each Room Needs A Clearly Defined Purpose. Why?

 The Challenge to a Sale: a room filled with furniture, electronic and office equipment, storage items, paintings, silk plants, etc. household items that are wanted but not used and kept out of the line of sight until the room is opened.  The room does not show well, or shows its dimensions and “feels” cramped, like a “whirlwind” or unusable as a functional family living space.

 Only 10% of buyers can visualize the potential of a space.  If you have a room that is not clearly defined with a specific purpose, buyers are left with an uneasy “Hmm, I don’t get this room.  I wonder what it is.”  They don’t see any value in that space for them and their family!

You are selling square feet.  If you have a catch all room it will give buyers a sense that there is not enough space in the home you are selling.  Buyers will not see value in a space that feels small.  They want to believe they are buying more space for their family.  A family that quite possibly is in a space they are quickly growing out of.

Even worse yet, the clutter feels like discontent.  Buyers want to believe that when the buy your home they are bettering their lives, moving up, beginning a fresh new life in a home that will provide for all their needs.   Clutter creates the opposite feeling, even when it is neat and organized.

The Solution: What do we do with a Catch All Room?

Catch all Room after modifications

The Catch All room after modifications, note the window coverings, flooring, wall colors and trim have not been touched. Even the main furniture in the room remains.

1.  We clear the clutter.

2.  We open up the space.

3.  We stage the room giving it purpose and creating a lifestyle!

What does this achieve?

1.  It shows the 90% of the population the value of this space.  How it could function for the buyers and their family.

2.  It shows buyers just how large the room really is!  What are buyers buying?  They are buying Square footage, space, architectural details and the character of your home.

3.  It shows buyers a sense of lifestyle!  What do buyers want to believe?  That if they move into this house, they will become healthier, have a place for the family to get closer, and that they can entertain overnight guests,… if they want to!

So my suggestion is, to get the top dollar for the sale of one of your properties, make sure each room that serves a main purpose looks that way.  Get rid of the clutter, show the dimensions and show that it is easy to live there. Now that’s the Cats Meow in Real Estate.

1109 Chahley Court, MLS #E3322796, Search Cameron Heights Home

Wednesday, February 13th, 2013

1109 Chahley Court - Family Home for Sale in Edmonton - MLS #E3322796, Just $495,800.Well hello again, pleased as punch to be sending out to all my peeps some new Real Estate work for you to peruse.  Happily, we’ve secured a new website for some of our sellers.  Welcome to 1109Chahleycourt.com . I’m absolutely delighted by the simplicity and coolness of this new site and has it ever helped us in the SEO rankings for this property. Apparantly, just being the listing agent on this job didn’t get me on the first page of google,  ha ha ha. (much kudos to the guerilla marketing book I just finished reading)  If you get the chance take a boo inside it and let us know what you think.  Now that would be the Cats Meow.

😉

KITTY BITS – January 2013 Edmonton MLS Activity

Friday, February 1st, 2013
Kitty Bits  January 2013 Realtors MLS Acitivty in Edmonton

Edmonton Realtors MLS Acitivty Summary for January 2013 – brought to you by Kitty Bits and The CATS MEOW at Re/Max Real Estate.

Here we are in the dead of winter.  Mother nature is taking a break from pollenating flowers in our province and instead she’s filling our mountain peaks and city streets with the blessed white stuff that keeps our water cycle in harmony.  Last week in Edmonton we saw lows in the weather of a freezing Minus 27 degrees (even colder if you count the windchill factor.) Yet with all that cold and snow and with buyers still trying to recover from their Christmas credit card bills we still saw movement in our market.  A little lower than the averages for our province and country, but movement none the less.

THE PRICE RANGE THE MOST HOMES SOLD IN:

$250,000-$299,999 – 140

$200,000-249,999 – 102

$10,000-$99,999 – 96

 

The KITTY BITS above shows some of the more important numbers like

How many homes sold in January in Edmonton.  How many Condos sold in January in Edmonton. How many homes sold over $1 Million?  How many homes are active on the market today?  How many Condos are active on the market today?

What the chart doesn’t show you is that we are deprived of houses to sell.  Normally agents will have quite a few listings at their fingertips to advertize and get SOLD yet we’re all searching for more.  There are about 1000 less properies to sell than normal.  So if you’ve been thinking of selling, in Edmonton, my advice is simple. DON’T WAIT TIL THE SPRING – LIKE EVERYONE ELSE IS.

We need great homes to sell and we need them now.  Our shortage is your benefit.  In the spring, when the saturation hits, prices will go down and so will your profits.  And we all like the word profit, now that’s the Cats Meow in Real Estate.

2012 SOLD Edmonton Real Estate Market Summary – Kitty Bits

Thursday, January 31st, 2013
2012 Edmonton Real Estate Market Summary by The Cats Meow

2012 SOLD Edmonton Real Estate Market Summary-KITTY BITS brought to you by The CATS MEOW in Re/Max Real Estate

More numbers.  It seems that these days all we get to know are the numbers, but they can be so important, can’t they?  Have you ever visited the Canadian Real Estate Associations National Average Price Map?  It shows us exaclty how we are doing with comparison to our sisterly provinces. Which one surprised me the most?  LOL

THE NORTHWEST TERRITORIES.

British Columbia 2012 average sales price of house: $498,205,

Alberta  2012 average sales price of house: $363,340, Edmonton 2012 average sales price of house

Saskatchewan 2012 average sales price of house: $284,346,

Manitoba 2012 average sales price of house $249,852,

 

The KITTY BITS above shows some of the more important numbers like

MLS sales in 2012, the average days on market for listings, the average sales price of houses and condos, and just how many homes sold over that lovely $1 Million dollar mark.

I hope you’ve enjoyed this post of Kitty Bits and hope to see you back again real soon, now that would be the Cats Meow.

Homebuyers Road Map – Helping You the Homebuyer

Wednesday, January 30th, 2013

The Homebuyers’ Road Map is a public information toolkit to help homebuyers make informed decisions and planning when choosing a home. This project is a collaboration between The Canadian Real Estate Association and the Financial Consumer Agency of Canada.