Stats ending Dec. 29, 2007

To view and search all mls listed homes in the Edmonton and area visit us at: www.TeamLeadingEdge.ca

The inventory in Edmonton proper has dropped to under 5,000 to 4,906. This is the lowest that we have seen it in a very long while. However the sales for the last 30 days have also dropped considerably to 688.

That gives us a listing to sales ratio of 7.13/1. To me that would indicate that we still have continued pressure on prices and I expect prices to continue to drop.

Rumor Has It!!

To view and search all mls listed homes in the Edmonton area visit us at: www.TeamLeadingEdge.ca

I just hear a rumor in the last few days that has me concerned. Based on the the rumors it is possible the the next round of round of lots coming out in the new year are going to be priced considerable higher... as much as 100% higher.

This could really bring the new house industry to a crawl by pricing almost everyone out of the market.

I am going to try and confirm this over the next upcoming days, and will update you with what I find out.

Dec 21, 2007 Statistic

View and search all MLS listed homes in the Edmonton are at our website: www.TeamLeadingEdge.ca

The market situation is still not improving. Currently we have 10,145 listings on the Edmonton Real Estate Board MLS listing system. Of which 5,102 listing in Edmonton proper, with 900 sales in the last 30 days. That gives us a listings to sales ratio of 5.7 to 1. With the ratio still being that high I am anticipating continued downward pressure on prices.

Bamboo Flooring - A Great Alternative

To view and search all MLS listed homes in the Edmonton area visit us at: www.TeamLeadingEdge.ca

I had my first look at a bamboo floor when I listed a home in the Riverbend area and I have to say that I was impressed and really love the look that the bamboo floor offered.

Bamboo flooring offers a modern, asian-inflected look that's incredibly loft- or condo-friendly. A fast-growing grass that requires no pesticides or fertilizers to thrive, bamboo is a renewable resource par excellence: not only can a stand of bamboo be harvested for "wood" every five years, it produces 35% more oxygen than an identically sized grove of trees! Available in planks that range from three-inches to six-inches-wide, bamboo comes in trendy transparent stains, as well as luxe hand-scraped distressed finishes to replicate exotic rainforest hardwoods. Farmed bamboo provides habitat for birds, and isn't the same species that pandas like to eat. Very durable, water-resistant and antimicrobial

Very strong, yet anecdotal evidence points to a tendency to scuff; buy at the higher end of the price scale to get a more durable finish. My clients had opted for a high end product and I did not notice any tendency to scuff. Like usual you get what you pay for. Bamboo flooring should range approximately from $2 to $4/sq. ft. without installation

Top ten reasons why REALTORS® are worth their weight in gold

To view and search all MLS listed homes in the Edmonton area visit us at: http://www.teamleadingedge.ca/

Buying and selling real is not an simple thing. It is, in fact, a significant business transaction that requires a team of talented and skilled people to ensure that everything is completed properly and is in the process.

As an important part of the most real estate transactions, lawyers, financial advisors, mortgage specialists, home inspectors, property appraisers, interior decorators, accredited staging professionals, movers, and REALTOR® all play a significant role within their areas of expertise. And of all these professionals, REALTOR® are the ones that assists the clients thought the entire real estate process with care, professionalism and competency.

It is estimated that there are more than 146 large and small tasks that must be managed for a successful real estate transaction to be closed. A committed and professional REALTORS® will make the complex process of selling or purchasing real estate both simple and painless.

As an overview of what a REALTORS® can do for you in your next real estate transaction, here are the top ten reasons why enlisting a REALTOR® is one of the best investments people can make in the process of buying or selling real estate.

10. REALTORS® provided their clients with expert valuations on the value of any property they are seeking to sell or to purchase
How do you decide upon a fair value for a property you are selling or purchasing? Your REALTOR® will analyze real estate values in comparable properties, and will help you determine a price reflecting the current real estate market

9. REALTORS® provide professional advice on how to prepare your property so that it will show it absolute best.
REALTORS® you exactly how to present a home in its best light, and they advise clients on how to improve the showing on their home to potential buyers. When viewing properties REALTORS® also provide a critical eye to flaws that may be significant that clients realize.

8. REALTORS® use the Multiple Listing Services® to put a client’s property front and centre in the real estate market, or to find a property that fits with what their client is seeking.
Only REALTORS®, those real estate agents who are members of the Edmonton Real Estate Board and the Canadian Real Estate Association, can list properties on the MLS® system. When listed on the MLS® system, the entire network of 73,000 Canadian REALTORS® can access your property details and bring it to the attention of their clients. Who wouldn’t want such a team working for them?

7. REALTORS® take care of all the nitty-gritty details involved in selling or purchasing a home.
When you select a REALTOR® to help you sell your home your REALTOR® will plan and manage open house for you, they will show your home regularly to scores of potential buyers and they will work evenings and weekends to ensure the right buyer are matched with the right sellers.

6. REALTORS® Take care of advertising
REALTORS® not only list your property in the MLS® system, but they also advertise properties in the Edmonton Real Estate Weekly. Real Estate Weekly is the largest real estate publication in Edmonton with 100 pages of content and listings per week, and only REALTORS® can advertise in this valuable publication.

5. REALTORS® take care of yard signage.
If your home is for sale but nobody know it how can it possibly be sold? REALTORS®
provide attractive, recognizable yard signage to let people know that your valuable property available for purchase!

4. REALTORS® assist clients in understanding all offers to purchase.
REALTORS® are expert in all conditions of sale and providing explanations and expertise regarding offers made for a property. As your REALTOR® works on your behalf, he or she will advise you on any conditions of sale that may be problematic, and will take steps to negotiate any unacceptable elements.

3. REALTORS® know how to negotiate an acceptable sale price.
Because how ownership is a substantial investment that can have emotional implications, both buyers and sellers usually have too much at stake to be good negotiators. While representing their clients, REALTORS® remain professional and detached and are able to negotiate satisfactory sales prices in real estate transactions.

2. REALTORS® know the pulse of the current market
REALTORS® are professionals who live, breath and study real estate. They know the Edmonton region marketplace from day-to-day exposure and how it pulse is breathing. They are professionals in intricate, expert knowledge that assist everyone who is interested in buying or selling a property.

1. REALTORS® put your mind at ease and let you relax through the real estate transaction.
In today’s busy, busy world and intense real estate market, isn’t it worth it to have a professional guide you through a complex business transaction with ease and security? Find a REALTOR® who you enjoy, trust and like, and agree on an acceptable commission within your business relationship. REALTORS® are professionals in the process of selling and purchasing real estate, and they provide a value that is worth its weight in gold.

Staging Statistics

"Your Investment in ASP Home Staging will always be less than your first Price Reduction"- Barb Schwarz, The Creator of Home Staging
Return on Staging InvestmentThis chart shows the average return of your Home Staging investment versus condition-based improvements.

Typical Recommendations / cost / potential gain
Lighten and brighten cost: $86-110 potential gain: $768-935 (769%)
Clean & de-clutter cost: $305-339 potential gain: $2,093-2,378 (594%)
Landscape & trim cost: $432-506 potential gain: $1,594-1,839 (266%)
Staging Furniture cost: $212-1,089 potential gain: $2,275-2,841 (169%)
Total Cost: $1,035-2,044 potential gain:$6,730-7,993 (478%)

Fix plumbing, electrical cost: $338-381 potential gain: $922-1,208 (196%)
Kitchen/bath upgrades cost: $1,546-2,120 potential gain: $3,823-4,885 (138%)
Repair flooring cost: $1,531-1,714 potential gain: $2,267-2,589 (50%)
Paint exterior walls cost: $2,188-2,381 potential gain: $2,907-3,233 (34%)
Replace carpeting cost: $2,602-2,765 potential gain: $3,585-3,900 (39%)

Based on 2003 HomeGain Survey of 2,000 real estate agents nationwide found that moderately priced home improvements, ranging from $80-2,800, made in preparation for sale actually yield the highest returns when a house is sold.

Stats ending Dec. 14, 2007

Currently there is 10,589 residential MLS listings on the Edmonton Real Estate Board which includes the surrounding areas. There are 5,407 residential MLS listings in the city of Edmonton proper which is down slightly since last week. In the last 30 days there has been 920 sales.

That means we have a listings to sales ratio of 5.88/1. That is an improvement over last week but still indicates that there is downward pressure on prices. But lets look at the bright side and look the ratio is improving and heading towards a balanced and neutral market.

Open House - Dec 13, 2007

Open House Thursday Dec. 13, 2007 9:30 am - 1:00 pm

4333 MCMULLEN WY

Want a in-law suite or nanny suite with a separate entrance.This amazing 2280 sq ft two storey home offers: 4+2 bdr, 4 full bathrooms, den, an island kitchen with dining nook, walk-in pantry and high quality appliances, great room with gas f/p with ceramic surround and a colonial style mantle/entrainment niche, formal dining area, upper floor laundry, a fully developed lower level with 2 bdr suite a full kitchen, jack and jill bathroom with jetted tub, as well as a second laundry room, double attached garage that is insulated and drywalled. This home backs onto a open green space facing southwest, fully landscaped with a two-tiered raised deck and a front veranda Upgrades include maple hardwood flooring, solid maple cabinetry, a gas fireplace, knockdown ceilings, large windows, Stylish ceiling fans an open staircase and continuous hot water system.

View and Search all MLS listed homes for sale in the Edmonton area by visiting us at: www.TeamLeadingEdge.ca

Dec 12, 2007 Feature Home

Address: 158 MacEwan Road List Price: $419,900

Stunning 3 bedroom 2 story in MacEwan. Large island kitchen with walk thru pantry and eating nook with sliding patio doors leading to a 2 tiered deck. The large master bedroom features both a walk-in closet and a full 4 piece en suite bath. Living room features a cozy gas fireplace and built in entertainment shelf. The basement is fully developed with a family room that is pre-wired for a surround sound system. Just minutes away to shopping, amenities, access to Anthony Henday.

For more information or to view more pictures of this home visit us at: http://www.teamleadingedge.ca/view_listing.php?listing=mls&id=E3119021

To search and view all MLS listed homes in the Edmonton area visit us at: www.teamleadingedge.ca

Family-friendly decorating

Combining fashion with function to create a family-friendly space can be a challenge. Chris Hyndman, interior decorator and co-host of HGTV's Designer Guys, offers up these easy and practical tips for decorating your home to suit your family's needs.
Tot tipsDon't despair because of the kids. Here are some ideas for making your home child-friendly and stylish, too.
• Floating shelving and shelving units add dimension to a room and keep your valuables out of reach.

• Machine-washable slipcovers can be made from a variety of fabrics, such as flat or brushed cottons, poly-blends and even brushed velvet.

• Lidded baskets are attractive, transportable and hide a multitude of sins.

• Wall-mounted lighting eliminates the danger of electrical cords. Selection is limited, so play with lampshades to create different decorative effects.

• Roll up the Persian carpet -- at least for now. Sisal, a more utilitarian choice, wonderfully disguises dirt and is inexpensively replaced.


Dos and don'ts

Here are six helpful hints for making your home a place the whole family can enjoy.

Do allow yourself the indulgence of fresh-cut flowers; don't place them on low coffee or side tables since many plants are toxic.

Do use wipeable latex paints for walls; don't use oil-based ones, which are harder to clean (oil is more suitable for trim).

Don't trip up your toddler with exposed electrical cords; do incorporate wall-mounted lighting and sconces. Or replace existing quarter-round with hollowed-out half-round to conceal cords.

Don't lock up your favourite photos and lithographs, unless you want your child's cultural education to be shaped solely by Playskool; do rehang valuable artwork out of reach of tiny hands.

Don't make your home childproof; do make it child-friendly. This is an opportunity for you to learn tolerance and for your child to learn respect.

Do help your child understand the distinction between adult and kid rooms. Create an adult-proofed area for your child that is his or hers alone; don't expect your child to understand this distinction immediately.

Source: http://realestate.sympatico.msn.ca

To view and search all MLS listed homes in the Edmonton and surrounding areas visit us at: www.TeamLeadingEdge.ca

Top 10 bathroom renovation tips

An effective bathroom design should address all your needs, physical and spiritual. Here are the most important tips to consider when considering bathroom renovations.

1 Choose elegant fixtures.A pedestal sink with graceful lines is more attractive than a blocky cabinet vanity. A classic claw-foot tub is like bathroom sculpture. Even enclosed in a deck, the simple lines of the lip have an inherent beauty that surpasses most acrylic versions

.2 Sit in a bathtub before buying it.Bigger isn't always better. A 60-inch tub is fine for most people. It offers enough room to stretch out and provides a secure foothold, so you don't float into oblivion when the tub is full. Assess the angled back and lip for comfort and neck support -- a tub for two people slants at either end and has taps in the middle. If you only have enough space for a small tub, buy an extra-deep one.

3 Select durable flooring. Ceramic, marble and stone tiles are all excellent durable and water-resistant choices for a bathroom. Subfloor heating coils will make these hard surfaces warm. Well-sealed hardwood floors offer natural warmth and act as a foil for the other hard, cold surfaces in a bathroom.

4 Hang a stylish mirror.One beautifully framed mirror over a sink is more attractive than many surfaces covered with mirror. Supplement it with a wall-mounted adjustable makeup mirror, and consider installing a lighted, mirrored shaving niche in your shower stall.

5 Use found space.Take advantage of space between wall studs by recessing a tall storage cabinet into the wall to maximize vertical storage while saving floor space. The cabinet should have an interior depth of at least three inches and a door flush with the wall

6 Build a shower area. Consider building an open-concept shower area that doesn't need a curtain or door and is less confining than a standard shower stall. In addition to well-designed drainage, a ceiling-mounted rain showerhead and/or a high wall-mounted showerhead that splashes less water will keep the area outside the shower drier.

7 Share space for added function.In homes with back-to-back bathrooms, a shared shower with access doors to each of the bathrooms maximizes limited space. Or turn a closet located next to a bathroom into a small ensuite with access to the neighbouring bath.

8 Design lighting that works. Good lighting is imperative. Combine halogen pot lights with wall sconces beside or over the mirror for lighting with no shadows. Always install dimmers.

9 Buy a quality toilet.When buying a toilet, it's not necessary for you to spend big bucks, but you don't want to scrimp too much, either. You can get a good-quality one-piece toilet for about $400. Models with elongated bowls and seats are usually most comfortable.

10 Incorporate luxury into your room. If you're fortunate enough to have lots of space to work with, indulge yourself with an expanded spalike bathroom that includes a dressing room -- a haven for privacy and relaxation. Outfit it with a television, fireplace, exercise equipment, makeup vanity and even a large comfortable occasional chair upholstered in thick white terry-cloth.

source: http://www.stlyeathome.com/

View and search all MLS listed homes in the Edmonton area at: www.TeamLeadingEdge.ca

Dec 11, 2007 Market Update

Good day... it is a beautiful winter day here in Edmonton.

Currently we have 5477 active listings in Edmonton as of this morning. In the last 30 days we have had 903 sales. This give us a listing to sales ratio of 6.07/1. With a ratio that high I would expect prices to continue to drop. A ratio of around 4/1 is required for a stable or neutral market, and a ratio lower than that for prices to start to rise again.

So if you are thinking of selling you might want to do it sooner than later so that you don't end up having to sell at a lower price than you can get today.

To view and search all MLS listed homes visit us at: http://www.teamleadingedge.ca/

Did you know that you can find the value of your house by visiting our website: http://www.teamleadingedge.ca/

New listing

To view larger image just click on image below

To view and search all MLS listed homes visit us at: www.TeamLeadingEdge.ca

What Can You Afford?

When you prepare a budget, you’ll know what resources you can allocate to mortgage payments, living expenses and other financial situations. Everyone involved in financial decisions should also be involved. Your REALTOR® can assist you in helping you establish a budget, review financial qualification guidelines established by financial institutions, and even suggest some ways to obtain financing, either through traditional lenders, or another institution.
You’ll need a down payment. This can be as little as 5% of the purchase price. However, this type of purchase requires a high-ratio mortgage and insurance. Fortunately, Canada Mortgage and Housing Corporation helps Canadians purchase their first home this way, through a federal insurance program. Your REALTOR® can provide details on this program.

Collect the following to prepare your plan:
Monthly rent or mortgage payments
Utility payments (gas, water, power, telephone)
All other monthly expenses (such as food, child care, dues, etc.).
Annual or semi-annual expenses (such as insurance, car repair, taxes).
Non-fixed expenses (for example, medical expenditures) for the last year. This will give you an estimate of average expenses of this type. Records or an estimate of personal expenses (entertainment, travel, etc.)
Credit card statements

Allow for unexpected items such as medical emergencies, travel and education.
Subtract expenses from income. Could remaining funds be directed towards a mortgage, debts or additional savings? How will a home purchase fit into your budget? Also consider items like insurance, taxes, repairs and maintenance.

What Can I Afford?
There are two types of costs in buying a home -- the initial amount you will need for your purchase and the ongoing costs of paying back your mortgage along with monthly operating costs. The largest one-time cost is the down payment. It usually represents 5-10% of the total price of the property.

Typical One-time Expenses:
Mortgage application and appraisal fee Property inspection (optional), due at time of inspection Legal fees, due at the time of closing Legal disbursements, due at the time of closing Property survey (sometimes provided by seller), due at the time of closing Land transfer, deed tax or property purchase tax, due at the time of closing.(in Quebec within three months following signing) Mortgage interest adjustment (if applicable), due at the time of closing Home and property insurance, at closing and ongoing Moving expenses, due on the date of move PST on High Ratio mortgages Realty Tax Holdback

Typical Monthly Expenses:
Mortgage payments Maintenance (this could be condominium fees, or allocated maintenance fees) Property and content insurance Property taxes Utilities

Read More
1. Determining your needs
Learn
- Your Lifestyle
- Location, Style and Cost
- Why is Location Important?
- Choosing a Neighbourhood
- Your Housing Needs
- Types and Styles of Homes
- What Can I Afford?
- Your Team and Their Roles
- Agents
- Contractors
- Appraisers
- Lenders
- Mortgage Brokers
- Lawyers/Notaries
- Home Inspectors
- Insurance BrokersPlan
- Neighbourhood Features Checklist
- Monthly Expenses
- Your Team of Professionals Worksheet Do
- Home Features Checklist
- Home Hunting Worksheet

2. Arranging a mortgage
3. The offer
4. Closing
5. The move

To view and search all MLS listed homes visit us at: www.TeamLeadingEdge.ca

Dec 06, 2007 - Featured Home

This immaculate and spacious 1/2 duplex is 1155 sq ft and offers 3 bedrooms, 1.5 bathrooms, master bedroom with walk-in closet, kitchen with eating nook, living room, partly finished basement, fully landscaped yard and double detached garage. Features include gas fireplace, oak cabinets, upgraded appliances, gas line for BBQ, back and front veranda, and no condo fees.

For more information and to view the interior pictures of this home click on the following link:

http://www.teamleadingedge.ca/view_listing.php?listing=mls&id=E3118763

To view and search all MLS listed homes visit us at: www.TeamLeadingEdge.ca

Housing prices tumble even as inventory decreases

Edmonton, December 4, 2007: The REALTORS® Association of Edmonton reports that housing prices in Edmonton suddenly dropped in November. The largest monthly drop in single family prices so far this year was 3.2% in August. The drop in November was 5. 3%. The residential inventory is still high as compared to historical levels but has dropped throughout November. There were 8,667 residential properties available on the Multiple Listing Service® at the end of the month
“Home sellers have come to realize that the current market is very price sensitive. If a property is not priced right for this market it may languish in the listings,” said Carolyn Pratt, President of the REALTORS® Association. “Buyers currently have lots of options available and are being selective about homes they consider.” She stressed that REALTORS® using the MLS® can provide the most comprehensive and accurate market prices and current neighbourhood pricing trends.
Single family dwellings listed on the Multiple Listing Service® sold on average* for $376,267 in the Edmonton area in November. Condominiums on MLS® sold on average for $252,277 (down 4.0%) and the more volatile duplex/rowhouse prices were down 15.4% and sold for $311,193 on average. The average residential sales price (which includes all types of residential property) was down 6.5% from last month at $325,060.
“As the current listings become sold or are withdrawn the current inventory will drop. As we move into the spring with a more normal inventory, we expect that prices will again begin to rise slowly," said Pratt.
Typically, homes sold more slowly with the average days-on-market up a week to 51 days. The sales-to-listing ratio was higher than October at 45% and total residential volume for November was $397 million; down 10.6% from the same month last year. The total MLS® sales figure for the year to date was $7.9 billion and will be a record setting $8 billion by the end of the year.

* Average prices indicate market trends only. They do not reflect actual prices, which may vary.

Source: Realtors Association of Edmonton

To view and Search all MLS listed homes visit us at: http://www.teamleadingedge.ca/

Dec 04, 2007 - Featured Home

Investor or First Time Buyer Wanted!!

Listed Below Appraised Value!!

Recently upgraded and renovated 4 bedroom, 4 level split that offers over 1800 sq.ft. on 3 levels, with a double insualted garage situated on a pie shaped lot. The living room and downstairs have berber carpet and the upper 2 bedrooms have oak laminent flooring and the kitchen has new ceramic tile. The owners have just finished installing a brand new hot water tank, and colonial doors and fresh paint throughout. The finished basement features a large family room with wet bar. Even the fridge is new!!! Vendor will consider re-shingling the roof for the right price. All information and measurement to be verified by purchasers. Home was appraised on October 16/07 for $330,000

To view this home click on the following link: http://www.teamleadingedge.ca/view_listing.php?listing=mls&id=E3103329

Real estate not about to burst - Part III

“The probability of the market busting is small,” says Lovett-Reid. “A cooling of the Canadian housing market (likely will) proceed in an orderly fashion.” Taylor says housing prices and starts will flatten out over the next few years, but real estate should continue to be a good investment strategy as part of a diversified portfolio. And TD Economics expects national average home prices will rise by an average annual rate of four per cent over the next 25 years. “While real estate purchased for speculative or income-generating purposes is a financial investment, home ownership offers the opportunity for capital gains through rising prices over time,” Lovett-Reid says. “There could be considerable variation at the individual city or neighbourhood level and volatility from year to year, but as one of, if not your largest asset, a home should be a part of your financial plan,” she says.

Source: CanoeMoney.ca - November 14, 2007

To view and search all MLS listed homes visit us at: www.TeamLeadingEdge.ca

Dec 04, 2007 - Today's Update

As of this morning there are 5551 active residential listings in Edmonton, and 912 sales in the last 30 days. That gives us a listing to sales ratio of 6.08/1 which is still to high to expect prices to start rising again. It demonstrate that we can expect prices to drop still slightly or at the very best hold stable.

To view and search all MLS listed homes visit us at: www.teamleadingedge.ca

12/03/07 - Today's update

This morning we currently have 5556 residential listings available. In the previous month there were 912 sales. This would give us a 6.09/1 listings to sales ratio, still too high to expect that prices to stabilize or even go up. I don't see prices to start rising again until we see a ratio of 4/1 listings to sale ratio. I do however expect the listings to continue to drop in the next 30 - 60 days, but unfortunately I also expect the sales to slow down as we historically have seen during this time of year.

To view or search all MLS listing homes go to: www.TeamLeadingEdge.ca

Real estate not about to burst - Part II

An August forecast by the Canadian Real Estate Association show that the average price of a residential home in Canada is expected to rise 10.4 per cent during this year and national home sales will increase 8.1 per cent, setting new annual records in most provinces. In the U.S, the National Association of REALTORS® in its September outlook projected a drop of 8.6 per cent in existing home sales and 1.7 per cent in home prices during the year. Many of the conditions that led to the subprime mortgage situation in the U.S. don’t exist here in Canada.

Source: CanoeMoney.ca - November 14, 2007

View all mls listed homes at: www.TeamLeadingEdge.ca

Dec 02/07 Featured home

Gorgeous and bright 1709 sq.ft. 3 bedroom, 2.5 baths, open kitchen and eating nook, bright living room, bonus room, large deck and double attached garage. Features of this home include hardwood floors, large island, gold special black granite counter tops, black appliances, gas fireplace, smart wiring, brushed nickel hardward and accents, 4 pce. ensuite bath with large soaker tub. Located in the beach side community of Summerside, with private club, beach, walking, and bike trails. The large center island has doubles sinks, cupboards, and eating bar. Listed at $439,899

To view more pictures of this home go to the following link: http://www.teamleadingedge.ca/view_listing.php?listing=mls&id=E3119620

Real estate not about to burst - part one

The subprime mortgage crisis in the U.S. isn’t like to happen in Canada. Owning a home is still a good investment and wealth management strategy, financial experts believe. “You have a bubble situation when there is a lot of speculation and leverage in the market,” says Patricia Lovett-Reid, senior VP with TD Waterhouse. “We are not seeing that in Canada now.” Lovett-Reid says Canadians don’t need to be worried about the subprime mortgage crisis in the United States spilling across the border. Overall, the real estate market in Canada looks healthy although a correction might be coming. A TD Economics report says the sales of existing homes in Canada could decline by four per cent next year compared to its projection for this year.

Source: CanoeMoney.ca - November 14, 2007

View all MLS listed homes at : www.TeamLeadingEdge.ca

Dec 01/07 Featured home

Macewan 2 Storey Stunning 3 bedroom 2 story in MacEwan. Large island kitchen with walk thru pantry and eating nook with sliding patio doors leading to a 2 tiered deck. The large master bedroom features both a walk-in closet and a full 4 piece en suite bath. Living room features a cozy gas fireplace and built in entertainment shelf. The basement is fully developed with a family room that is pre-wired for a surround sound system. Just minutes away to shopping, amenities, access to Anthony Henday. All measurements and information taken from builder plan and must be confirmed by purchaser. Listed at $419,900

To view more information on this home visit: http://www.teamleadingedge.ca/view_listing.php?listing=mls&id=E3119021

For more information contact Team Leading Edge - 780-488-4000

Today's update

I am please to see that the number of listings on the market is dropping. As of today there is 5604 active residential listings in Edmonton. Also today there were 350 listings that came off the market.

If we can see the number of listings at around 4,000 with our current trend of approximately 1,000 sales per month we might see the market level out and become a balanced market. As long as we see a ratio of more than 4 listings for every sales then we should expect price to possibly continue to drop.

At this time I don't think we are going to see the increase in valuations in the new year that a lot of people are hoping for. We are going to have to watch the ratio of listings/sales to see what we can expect.

To view and search all MLS listed homes visit: www.TeamLeadingEdge.ca