EDMONTON REAL ESTATE @EdmontonRealty

Housing looks lacklustre in 2011: report Canada had one of the better performing housing markets in 2010, according to a Scotia Economics year-end review, though the outlook for 2011 anticipates a fairly lacklustre year. Scotia's Global Real Estate Trends report tracked housing in 12 advanced nations, and found that Canada was one of six countries this year where inflation-adjusted home prices increased. The report however, also found that this country's housing market was one of the most volatile. Factors such as the introduction of the harmonized sales tax in Ontario and British Columbia, expectations of rising interest rates, and changing criteria for mortgage lending all played a part in the volatility. "Overall, we anticipate a fairly lacklustre year (in 2011) for residential housing, with modestly higher sales volumes and flat inflation-adjusted prices," said Adrienne Warren, senior economist for Scotia Economics. "The bigger risk likely awaits 2012...

Edmonton rents stable, vacancy rate dips EDMONTON - Finding an apartment to rent in Edmonton is expected to get a little tougher next year when the vacancy rate is forecast to slip and rents are expected to creep up. The vacancy rate for rental apartments will drop to about 3.5 per cent by the fall of 2011 as the economy improves, Canada Mortgage and Housing Corp. said Thursday. A typical two-bedroom unit is expected to go for nearly $1,035, up $20 from 2010. Fewer landlords will offer rental incentives as demand for their units rises, CMHC added. "A growing economy will help to reduce unemployment and encourage more newcomers to the region," the federal agency's annual fall survey said. The apartment vacancy rate has already edged down to 4.2 per cent in October for rental apartments across the Edmonton census metropolitan area from 4.5 per cent in October 2009. The drop comes after three straight years of increases. The vacancy rate also fell for Edmonton-ar...

After much speculation it seems North East Edmonton's Industrial Heartland is on the cusp of heating up again with the commencement of North West's Upgrader Mega Project. Each phase of the planned three-phase project is estimated to cost about $5 billion and create up to 8,000 jobs in construction, equipment supply and manufacturing. From a real estate investment prospective, the following comment bodes well for North Edmonton vacancy rates to tighten considerably: "...there will be no camps; workers will be moved in buses much as Shell did for its workers at the nearly completed Scotford Upgrader expansion project" Another tidbit is that BP Plc and Husky Energy Inc. agreed to start work building the first phase of the Sunrise Energy Project in northern Alberta. Slated to start in 2014, this will have many economic spinnoffs!! For those of you looking to capitalize on Edmonton's Winter buying season I would be glad to assist. Minus temperatures, combi...

It is no secret that Bank of Canada governor Mark Carney is concerned about a potential decline in home prices. However, cycles of declining home prices are far from unusual in Canada. In fact, there have been three during the past two decades, ranging from -6% to -12% at the national level, according to Stéfane Marion, chief economist and strategist at National Bank Financial. He points out that declines traditionally occur after a meaningful increase in interest rates pushes the buy-to-rent ratio to roughly 2.2. The ratio is again closing in on that level. “The higher leverage of Canadian households caused by the near doubling of home prices over the past decade makes them more vulnerable to a rise in mortgage rates,” Mr. Marion said in a research note. However, he insists that there is no need for the Bank of Canada to pursue aggressive rate hikes in the next 18 months. “This means that even if a correction is likely, current conditions do not herald a major decline,” the s...

Dear Albertans, For months, we've wondered how the Stelmach PCs were going to pay for their massive overspending. After bringing in the largest budgetary deficit in Alberta's history and continuing spending increases at twice the rate of inflation, conservatives across the province have been demanding explanations from the PC Government. We now have the answer - Ed Stelmach and the PC government are seriously examining implementing an Alberta Sales Tax. In late August, PC Finance Minister Ted Morton publicly mused about implementing a Provincial Sales Tax in Alberta, saying he was "looking at all the options we have for smoothing out revenue volatility" (QMI Agency, August 25, 2010). When Albertans rightly took him to task for suggesting yet another new tax on our families, PC Premier Ed Stelmach was quick to denounce the comments of his Finance Minister. However, just yesterday we learned how advanced the Alberta Sales Tax agenda is for the PC government...

With the housing market tightening up, everyone is looking for a way to help entice potential buyers. And they're willing to spend some money to do it. How much? Well, 54% cent of Canadians think that $2,000 or more is the appropriate amount to spend in preparing a house for sale, while a surprising 25% are willing to pay over $5,000, suggests research by Royal LePage Real Estate Services. While not everyone can afford Debbie Travis, more and more sellers are enlisting some professional help. Enter the stagers. House staging is the art of decorating a home to sell quickly and for top dollar . Interior arrangers can change the look of a room, often using only the things you already own. According to Royal LePage, the top three interior features when selling a home are freshly painted walls (30%), flooring (29%) and organized storage space (20%). One of the things that Debra Gould, owner of Six Elements, a home-staging consultant in Toronto, looks at is lighting. Upgrade li...

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Housing market not headed for crisis!! The recent slide in Canadian housing sales should not be characterized as a free fall, but rather “a return to more normal levels,” according to the Conference Board of Canada. Recent fears that Canada’s housing market is in a bubble similar to the one experienced in the U.S. are overstated, Mario Lefebvre, director for the board’s centre for municipal studies wrote in his blog Sept. 7. “It is undeniable that Canada’s housing market is slowing down. However, this should not be characterized as a free fall. Canada’s housing market is due for a pause. But, most importantly, the fundamentals of our economy remain sound. Contrary to the United States, this country’s labour market has rebounded from last year’s recession. Interest rates, while rising slowly, remain very low,” he says. “This market will pause, but it will not nosedive -- in contrast to the housing market south of the border, which is still battling a large inventory overhang th...

CEOs predict years of sluggish growth for residential real estate prices. By Jaqueline Nelson Canadian CEOs don’t think that the country’s real estate market is in a bubble, but that doesn’t mean they’re optimistic about further growth. A recent Compas Inc. poll shows that business leaders expect a rise in residential real estate prices over the next 12 months of just 1.75%. That’s a modest prediction, given that real estate prices jumped 18% in the past year, and that over the past 20 years, they increased on average by 3.4%. Like the executives polled, the Canadian Real Estate Association (CREA) expects to see continued growth in housing prices as well as increased buying and selling through the first half of 2010. Both CREA and the poll respondents said many homebuyers are looking to purchase homes before the harmonized sales tax comes into effect. “B.C. and Ontario are likely to see house prices drop in the latter two quarters of this year, following the adoption of the HST,...

Canadian Mortgage Broker News - Alberta housing starts jump up in July Alberta housing starts jump up in July Tuesday, 24 August 2010 Alberta's total housing starts in July were up 61.5 per cent over last year for the same month, according to the Canada Mortgage and Housing Corporation. But it is doubtful a real estate boom is back. "This streak will likely end in Calgary," said Richard Cho, a senior market analyst for the Calgary branch of CMHC. He predicts a slowdown because of the high listings availability for resale and rising interest rates. In most of Alberta's larger cities, construction started on 2,348 homes in July, compared to 1,454 in July 2009. Only Lethbridge and Red Deer saw a decrease.

For those of you interested in Politics, the following link to a poll will be of interest.... Wildrose Alliance VS PC

One day after a report showed Canadian housing sales were down 30 per cent, most major banks announced they were cutting mortgage rates. Most banks trimmed mortgage rated by one tenth of a percentage point, effective Tuesday morning. The move brings the five-year closed rate down to 5.49 per cent. "Pretty much across the board, fixed current rates are coming down by about a tenth of a percentage point," said BNN's Michael Kane. "The Royal Bank of Canada, which is the largest, kicked things off yesterday with the announcement and it was followed by CIBC, Scotia, pretty much everyone except National Bank and TD. But generally speaking they will probably make their announcements today." The move doesn't affect the one-year closed rate for mortgages, which is holding steady at 3.30 per cent at most institutions. Kane said the reduction of mortgage rates is linked to the shifting bond market. "The bond market is where banks finance their mortga...

Sellers better sharpen pencils NOW.... The Canadian Real Estate Association on Monday reported a 6.8 per cent drop in home sales through its MLS service, compared with June numbers. The decline is part of a gradual dampening of Canada's once-booming real estate market. B.C. and Ontario account for roughly 85 per cent of the slump, as the implementation of the harmonized sales tax this summer pushed many home buyers to purchase earlier this year, the association said in a statement. The two provinces typically represent more than half of the country's sales. "We're not seeing a huge slide," BNN's Andrew Bell told CTV News Channel on Monday. "Things were pretty frenetic last year… We're actually still up year-on-year on sales, prices are holding -- so we're not seeing a dive in the housing market by any means." So far, this year's sales are up 5.6 per cent from the first seven months of 2009. But experts predict that lead...

Cooler prices in July are still up 1.5% from last year Edmonton , August 4, 2010: While the summer temperatures rose in July, housing prices cooled and prices for all types of residential properties dipped slightly according to figures released by the REALTORS® Association of Edmonton. Single family dwelling prices slid 3.1% while condo prices were down 1.5% and duplex/rowhouse prices dipped just less than one percent. The all-residential average price dropped just 1.7%. "The number of homes in the inventory is giving buyers' choice," said Larry Westergard, president of the REALTORS® Association of Edmonton. "As a result many buyers are taking their time and prices are beginning to soften slightly. At the same time, some sellers who have been standing firm have been pushed to discount their initial list price." Less than half of the active listings over 30 days have had a price reduction. However, 93% of July sales sold below the list with about 40% having...

Well don't let anybody blow smoke up your a#* these days about Real Estate.....The fact of the matter is that it is in a very worrysome state.  Inventory is at a record high and that spells out BUYERS market in a big way!  If you are selling the world is not over but just become more difficult, you must have at least 3 of 4 of the following keys to selling an Edmonton home. 1) Awesome Place (location)- you need people to be currently shopping in your area 2)Great Product (look and feel) - -buyers need to gravitate to to it starting from the outside look and feel as well as a clean and attractive interior. 3)Great Promotion(exposure)- First off you need the most exposure possible, so a Real Estate agent is vital so that it goes onto sites like http://www.realtor.ca/ , http://www.mls.ca/ and http://www.premierteam.ca/ ***Best part is you only pay if it sells and you don't need to pay $500 to $1,000 to a private sale company and hope it sell because you alrea...

WOW....Fantastic time to Buy In EDMONTON!! Click here for JULY NEWSLETTER

Real estate investor bets on Edmonton Rising interest rates, tighter mortgage rules and worries of another housing bubble make it a bad time to invest in real estate, right? Not so, says Don Campbell, president of the Real Estate Investment Network and bestselling author, who's just released his fourth book on property investment. "If you're buying a mutual fund or a stock, you have no control," Campbell said. "With real estate, you can buy it and add value. You can live in it, you can rent it out and most importantly, right now, for every one dollar you put into the market of your own you're going to be playing with four or five dollars because of the banks, and as long as you've purchased a positive-cash-flow property -- it takes care of itself. "Your mortgage slowly gets paid down. Rent puts income into your pocket and you're leveraged." He calls Edmonton an especially promising place to invest and puts his money where his mo...

CBC News - Consumer Life - Real estate in Canada: average resale prices, changes in new home prices Click to go to great info on any city in Canada

Home sales continue to drop

For New canadians getting started as investors, find about Foreclosures and ... Click here for web page

With so much information readily available online, clients sometimes ask me, "Why should we hire a real estate agent?" They wonder, and rightfully so, if they couldn't buy or sell a home through the Internet or through regular marketing and advertising channels without representation, without a a real estate agent. Some do OK, many don't. So if you've wondered the same thing, here are 10 reasons why you might want to consider hiring a professional real estate agent. 1. Education & Experience You don't need to know everything about buying and selling real estate if you hire a real estate professional who does. Henry Ford once said that when you hire people who are smarter than you are, it proves you are smarter than they are. The trick is to find the right person. For the most part, they all cost about the same. Why not hire a person with more education and experience than you? We're all looking for more precious time in our lives, and hiring pros give...

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When you buy a condo, you're not just buying a place to live. You're becoming part of a community. Before you make an offer on your dream condo, Canada Mortgage and Housing Corporation (CMHC) recommends that you get some expert advice to help you navigate through the process. CMHC has identified many industry professionals who are available to provide you with information. They are the following: Read more: http://www.edmontonjournal.com/business/Buying+condo+need+your+team/3146316/story.html#ixzz0r3dl0EFc Buying a condo: who do you need on your team? Ivan Abelar www.PremierTeam.ca

Ivan Abelar has sent you a link to a blog: REALTORS� face relaxed housing market with stable pricing Blog: EDMONTON REAL ESTATE INSIDER Post: REALTORS� face relaxed housing market with stable pricing Link: http://ping.fm/sKwM9

Edmonton, June 2, 2010: The housing market was relaxed in May with slightly lower sales than last year and prices generally stable. Despite the sales drop, the current sales figures compare favourably with levels set in 2008. “Financial incentives, changes to mortgage qualifying rules and the threat of increasing mortgage rates caused the local market to peak a little earlier this year,” said Larry Westergard, president of the REALTORS® Association of Edmonton. “Many buyers exercised their options in April leaving the customer base a little leaner in May.” Single family residences in the Edmonton area rose in price by less than one percent and sold on average* for $390,583 in May. Condominium prices dipped just two percent to an average of $248,526. Duplex and rowhouse prices of $320,204 were down 2.3% from last month. Overall, the average residential price was up a quarter of a percent to $340,192. There were 3,670 residential listings in May with residential sales of 1,682 properties...

CONDOs NEEDED, I'm showing condos in central and west Edmonton Saturday and Sunday to some Fort Mac folks.. Anybody have any condos that aren't listed or on MLS that can sell for no more than $150,000. Minimum 1 bedroom....Message me if you may have something! thx Ivan

EDMONTON — Almost 15,000 jobs were created in Alberta in May as the unemployment rate unexpectedly dipped again. The 6.6 per cent rate, down from 7.4 per cent in April, was the third lowest in the country behind Saskatchewan’s five per cent and Manitoba at 5.7 per cent, and well below the 8.1 per cent national average, Statistics Canada reported Friday. Edmonton’s unemployment rate dropped 0.2 per cent to 7.4 per cent, but was still above the 6.0 per cent in May, 2009. Calgary’s rate remained at 7.6 per cent, compared with 6.8 per cent in May last year. Year over year, Alberta’s unemployment rate was Read more: http://www.edmontonjournal.com/business/Alberta+unemployment+rate+keeps+dropping/3112629/story.html?utm_source=twitterfeed&utm_medium=twitter#ixzz0pvk9509f

EDMONTON — Sales of Edmonton-area homes fell 26 per cent in May from the same time last year as rising mortgage rates, tighter lending rules and jittery financial markets kept buyers out of the resale market. There were 3,670 residential listings in May with sales of 1,682 properties, according to figures released Wednesday by the Realtors Association of Edmonton. That's also down 3.3 per cent from 1,740 residential properties sold in April, the figures show. "Financial incentives, changes to mortgage qualifying rules and the threat of increasing mortgage rates caused the local market to peak a little earlier this year," Westergard said. "Many buyers exercised their options in April, leaving the customer base a little leaner in May." Read more: http://www.edmontonjournal.com/business/Edmonton+housing+market+relaxed/3102620/story.html#ixzz0ppKWJHG3 Edmonton housing market ‘relaxed’ http://ping.fm/AQ7cW