Posts from July 2019

Do you have only a few weeks to search for your next dream home? Don’t panic. There are things you can do to find the perfect (or, at least, almost perfect) property — without getting too stressed out!

Consider these tips:

• Pre-arrange your mortgage. You want to be able to make a good offer on a home right away, without worrying about financing. So, talk to your mortgage advisor or lender about getting a mortgage pre-approval. Sellers will take your offer more seriously if you have financing in hand.
• Decide what you want. What type of home are you looking for? What type of neighbourhood do you want to live in? The narrower your focus, the less time you’ll waste looking at properties that don’t fit your needs.
• Be open to possibilities. There are probably terrific homes on the market — right now — that are close to what you’re looking for. So be prepared to consider properties that are less-than-perfect. Remember, what a home lacks today may be remedied with a renovation later on.
• Be flexible with your schedule. When you see a home you like, schedule a viewing immediately, even if it’s at an inconvenient day/time, such as a weekday after work. Finding a great home, quickly, is worth some inconvenience.
• Get alerted to new listings. As they say, the early-bird gets the worm. So arrange to be alerted to new listings the moment they come on the market. That way, you can see these properties right away.

Want more tips on finding a home, quickly? Give me a call.

No we aren’t breaking any records but I know I’m sounding a bit like a broken record! (Now there’s an expression out of my youth!) Not much has changed with respect to the residential market in Edmonton.

Price averages are down year over year in all categories with the exception of condos. But they are up only .3%. All residential sales are down only 2.5% year over year which is a better stat than May which was 4.1%.

As for month over month all product price average remained flat and an increase of .2%. Single family average decreased over May by 2.2%. Condos increased 2.2% over May as well. Duplex/Rowhouses stayed flat at .7% increase.

Again, and this is where I sound like a broken record…We are sitting in a balanced position in all categories except condos. They are sitting on 6.9 months of inventory which is the lowest we have seen in over a year OR more!

So the two bright spots in this month’s numbers are the condo market is shrinking. And balanced markets are a great time to buy or sell, as there is no volatility to be concerned about long term.