To view and search all MLS listed homes for sale in the Edmonton area visit us at:
www.FindMyHouse.ca
The March 2008 edition of CMHC's Housing Now - Major Centres - Edmonton is now available and can be accessed by clicking on the link below.
http://www.cmhc-schl.gc.ca/odpub/esub/64171/64171_2008_M03.pdf
(If any of the links do not open, you can copy and paste the URL into the address box of your browser and press Enter.)
To price your own home online for free visit us at: www.TeamLeadingEdge.ca
Monday, March 31, 2008
Sunday, March 30, 2008
Open House - March 30, 2008
Thinking of selling your home in the Edmonton area?? Price your own home online for free at: http://www.teamleadingedge.ca/
Excellent 3 bedroom 2 strorey home with 2.5 baths shows like a brand new showhome. Situated on one of the largest RSL lots in the area. Located on a quiet street, huge back yard that is fenced, deck and storage. This home features a main floor great room, island kitchen with eating bar and nook, formal dining room, main floor laundry, and a bonus room over the garage, arches and coved features nooks, 4 pce. ensuite, stainless steel appliances. Asking $428,899
To view and search all MLS listed homes in the Edmonton area visit us at: www.FindMyHouse.ca
Open House Sunday March 30, 2008
1 - 4 pm
3908 McMullen Green
To view and search all MLS listed homes in the Edmonton area visit us at: www.FindMyHouse.ca
Saturday, March 29, 2008
Good day and welcome to this week's real estate review
To evaluate the value of your own home online for free visit us at: http://www.teamleadingedge.ca/
Currently there are 12,174 listing on the Edmonton Real Estate Board. Which consist of 6,418 residential single family homes, 3.331 condominium, and 1,202 acreages.
However in Edmonton proper there are 3,669 single family homes listed on the multiple listing service, which is up by almost 400 homes since last week. During the last 30 days there has been 719 sales which is down almost 200 since we check last week. This gives us a listing to sales ration of 5.12:1 up from last week’s ratio of 4.75:1.
This is showing a trend of increasing number of listings coming on the market, but we are not seeing an increase number of buyers coming on the market. We know that we need a ratio around 4:1 for a balanced or neutral market. This is worrisome as that indicates that there might still be downward pressure on pricing. I also expect that as we get deeper into our spring market place we are going to see an ever increasing amount of homes being listed… let’s hope that the buyers come out of the woodwork to offset the increasing inventory.
Don’t forget to visit us at http://www.findmyhouse.ca/ to view and search all mls listed homes in the Edmonton area.
This is Serge of Team Leading Edge wishing you a great day!
Serge Bourgoin
Managing Partner
Team Leading Edge
Re/Max Real Estate
(780) 995-6520
Currently there are 12,174 listing on the Edmonton Real Estate Board. Which consist of 6,418 residential single family homes, 3.331 condominium, and 1,202 acreages.
However in Edmonton proper there are 3,669 single family homes listed on the multiple listing service, which is up by almost 400 homes since last week. During the last 30 days there has been 719 sales which is down almost 200 since we check last week. This gives us a listing to sales ration of 5.12:1 up from last week’s ratio of 4.75:1.
This is showing a trend of increasing number of listings coming on the market, but we are not seeing an increase number of buyers coming on the market. We know that we need a ratio around 4:1 for a balanced or neutral market. This is worrisome as that indicates that there might still be downward pressure on pricing. I also expect that as we get deeper into our spring market place we are going to see an ever increasing amount of homes being listed… let’s hope that the buyers come out of the woodwork to offset the increasing inventory.
Don’t forget to visit us at http://www.findmyhouse.ca/ to view and search all mls listed homes in the Edmonton area.
This is Serge of Team Leading Edge wishing you a great day!
Serge Bourgoin
Managing Partner
Team Leading Edge
Re/Max Real Estate
(780) 995-6520
Friday, March 28, 2008
Perfect Starter or Investment Property
To view and search all MLS homes listed for sale in the Edmonton area visit us at: http://www.teamleadingedge.ca/
Perfect starter or investment property. Clean and well maintained 3 bedroom bungalow with fully finished basement. Laminate floors in kitchen and stairwell. Corner lot with double garage and RV parking pad. Garage overhead door replace recently as well the carpet in the main floor bedrooms. Sliding patio doors leading to deck with a patio canopy cover. The white cabinets in the kitchen stay. Asking $333,899
Seller says bring me offers!!
Perfect starter or investment property. Clean and well maintained 3 bedroom bungalow with fully finished basement. Laminate floors in kitchen and stairwell. Corner lot with double garage and RV parking pad. Garage overhead door replace recently as well the carpet in the main floor bedrooms. Sliding patio doors leading to deck with a patio canopy cover. The white cabinets in the kitchen stay. Asking $333,899
Thursday, March 27, 2008
Housing boom losing steam; Conference board predicts sector weakness over next two years
To view and search all MLS listed homes for sale in the Edmonton area visit us at:
www.TeamLeadingEdge.ca
The Conference Board of Canada is warning of "a lengthy slowdown" in Canada's residential construction industry with profits, already off 22 per cent in 2007, falling for the next two years. The longest housing boom in the post-war era is now "out of breath," following spectacular growth in the number of homes built and the prices paid for them, the board said in a report released Thursday. "Satiated pent-up demand and slower economic growth is leading to what is expected will be a long slowdown in the housing market," the report says. After years of "relentless" house-price increases, declining affordability will be one of the primary factors weighing on the market, board economist Valerie Poulin said in an interview.
Source: Edmonton Journal
www.TeamLeadingEdge.ca
The Conference Board of Canada is warning of "a lengthy slowdown" in Canada's residential construction industry with profits, already off 22 per cent in 2007, falling for the next two years. The longest housing boom in the post-war era is now "out of breath," following spectacular growth in the number of homes built and the prices paid for them, the board said in a report released Thursday. "Satiated pent-up demand and slower economic growth is leading to what is expected will be a long slowdown in the housing market," the report says. After years of "relentless" house-price increases, declining affordability will be one of the primary factors weighing on the market, board economist Valerie Poulin said in an interview.
Source: Edmonton Journal
Tuesday, March 25, 2008
RESOLUTIONS FOR THE HOME
To view and search all MLS listed homes in the Edmonton area visit us at:
www.TeamLeadingEdge.ca
EW YEAR RESOLUTIONS FOR YOUR HOME
Many of us make optimistic resolutions for the New Year. Whether it’s deciding to take a class, stick to a budget, or to finally drop those 20 pounds, we’re full of ideas on how make ourselves and our lives better. Because your home is such an important part of your life, why not make some worthwhile resolutions for it as well? Here are some ideas to get you started.
KEEP CURRENT ON ROUTINE MAINTENANCE
One of the most important things you can do as a homeowner is to make sure routine maintenance is part of your plan. Catching problems early can often help you avoid larger issues down the road. What is now a minor plumbing or roof leak can cause major problems if not detected and fixed immediately. Check around your home for cracked or peeling paint, have chimneys and fireplaces inspected and cleaned, and make sure the driveway and walkways are not cracked or lifting.
UPDATE YOUR HOME INVENTORY FOR INSURANCE PURPOSES
If you’re like many homeowners, it’s probably been a while since you’ve reviewed your home insurance policy and reassessed the value of your home’s contents. An updated home inventory of your possessions can help you determine if you have the proper type and amount of insurance. Your insurance company may make forms available to help you organize and record your inventory, and there are several home inventory software programs available. You also can download a free program from http://www.knowyourstuff.org/. Should you have an insurance claim for property loss or damage, your inventory can help make the process and accurate valuation easier.
AUDIT YOUR HOME FOR ENERGY SAVINGS
There are simple things that every homeowner can do to improved energy efficiency and save on utility bills. Switching from conventional light bulbs to compact fluorescent versions wherever possible saves money and makes things easier for you, too. For example, you will need to replace bulbs in awkward places less often. Make sure windows and doors are caulked and in good repair; this will save energy in both winter and summer. If you’re planning to replace any appliances this year, shop for and compare efficient, energy-saving models.
CREATE A FIRE SAFETY PLAN FOR YOUR FAMILY
Everyone knows the importance of having a plan in place should a fire occur in your home. But each year, tragedy strikes homes and families who didn’t think about it or who promised to make a plan "one of these days". The basics include working and properly installed smoke detectors, fire extinguishers, and an escape plan for every room. Your local fire department is an excellent resource for directions on creating a plan designed to keep you and your loved ones safe. Give yourself some peace of mind by making this the year to put that plan in place.
www.TeamLeadingEdge.ca
EW YEAR RESOLUTIONS FOR YOUR HOME
Many of us make optimistic resolutions for the New Year. Whether it’s deciding to take a class, stick to a budget, or to finally drop those 20 pounds, we’re full of ideas on how make ourselves and our lives better. Because your home is such an important part of your life, why not make some worthwhile resolutions for it as well? Here are some ideas to get you started.
KEEP CURRENT ON ROUTINE MAINTENANCE
One of the most important things you can do as a homeowner is to make sure routine maintenance is part of your plan. Catching problems early can often help you avoid larger issues down the road. What is now a minor plumbing or roof leak can cause major problems if not detected and fixed immediately. Check around your home for cracked or peeling paint, have chimneys and fireplaces inspected and cleaned, and make sure the driveway and walkways are not cracked or lifting.
UPDATE YOUR HOME INVENTORY FOR INSURANCE PURPOSES
If you’re like many homeowners, it’s probably been a while since you’ve reviewed your home insurance policy and reassessed the value of your home’s contents. An updated home inventory of your possessions can help you determine if you have the proper type and amount of insurance. Your insurance company may make forms available to help you organize and record your inventory, and there are several home inventory software programs available. You also can download a free program from http://www.knowyourstuff.org/. Should you have an insurance claim for property loss or damage, your inventory can help make the process and accurate valuation easier.
AUDIT YOUR HOME FOR ENERGY SAVINGS
There are simple things that every homeowner can do to improved energy efficiency and save on utility bills. Switching from conventional light bulbs to compact fluorescent versions wherever possible saves money and makes things easier for you, too. For example, you will need to replace bulbs in awkward places less often. Make sure windows and doors are caulked and in good repair; this will save energy in both winter and summer. If you’re planning to replace any appliances this year, shop for and compare efficient, energy-saving models.
CREATE A FIRE SAFETY PLAN FOR YOUR FAMILY
Everyone knows the importance of having a plan in place should a fire occur in your home. But each year, tragedy strikes homes and families who didn’t think about it or who promised to make a plan "one of these days". The basics include working and properly installed smoke detectors, fire extinguishers, and an escape plan for every room. Your local fire department is an excellent resource for directions on creating a plan designed to keep you and your loved ones safe. Give yourself some peace of mind by making this the year to put that plan in place.
Monday, March 24, 2008
TOP 3 ROOMS TO INVEST IN
To view and search all MLS listed homes in the Edmonton area visit us at:
www.TeamLeadingEdge.ca
Homeowners are continually exposed to the latest and greatest in remodeling and renovation trends on TV programs, in magazines, and on home improvement web sites. It seems there isn’t any place in the house that’s off-limits to improvement, expansion, or updating. If a homeowner is planning to remain in their home for many years to come, they should consider projects that genuinely suit their own needs – the custom kitchen, a fabulous master suite, a new home office. But if the plan is to sell the home in the not-too-distant future, homeowners should focus on projects that will have the best chance of getting the highest return on their investment. Let’s take a look at the 3 rooms that rise to the top of the ROI list of midrange projects (our list does not include home additions or necessary repairs):
KITCHEN Average ROI = 83% (minor remodel), 78.1% (major remodel)*
Even within a particular room, project costs can vary widely depending on the extent of the improvements. A major kitchen remodel –custom cabinetry, expensive surfaces, high-end appliances, and engaging a designer – may cost upward of $100,000 and, on average, get a return on investment of about 78%. A minor kitchen "facelift", on the other hand, averages a similar ROI in percentage terms, but will cost far less. This more-modest project may entail cabinet refinishing, replacement of countertops and flooring, and perhaps swapping out dated appliances for new but inexpensive models that improve the room’s appearance.
BATHROOM Average ROI = 78.3%*
Bathroom remodels consistently rank at or near the top in term of return on investment. Whether it’s a powder room or a master bath, beautiful, updated surfaces, water-saving fixtures, and neutral tones are the minimal improvements that should be considered. Taking another step up, enlarging the room itself and adding luxurious "spa" elements such as a deep soaking tub, heated floors, and a double shower will obviously increase the budget and, likely, the appeal of a master bath.
ALL ROOMS – WINDOW REPLACEMENT Average ROI = 81.2% (wood), 79.3% (vinyl)*
Replacing windows may not rank high on the glamour scale, but buyers appreciate the appearance and improved energy efficiency of new windows and are willing to pay for them. Insulated windows are a smart improvement for homes in any climate, and will make the house look better both inside and out.
Here are a few more thoughts to keep in mind:
Regional differences – While the above figures are average, what’s most in demand in one geographical area may differ elsewhere. Do your homework before committing to a project.
Aim for universal appeal – Avoid highly unusual designs, strong colors, and unique custom components that can be polarizing to potential buyers. Remodeled spaces should look great to the widest possible audience.
Don’t over-improve – Homeowners should be careful to keep upgrades and improvements within the range of similar homes in their neighborhood. The most expensive home in the area, however attractive, is rarely the easiest to sell.
www.TeamLeadingEdge.ca
Homeowners are continually exposed to the latest and greatest in remodeling and renovation trends on TV programs, in magazines, and on home improvement web sites. It seems there isn’t any place in the house that’s off-limits to improvement, expansion, or updating. If a homeowner is planning to remain in their home for many years to come, they should consider projects that genuinely suit their own needs – the custom kitchen, a fabulous master suite, a new home office. But if the plan is to sell the home in the not-too-distant future, homeowners should focus on projects that will have the best chance of getting the highest return on their investment. Let’s take a look at the 3 rooms that rise to the top of the ROI list of midrange projects (our list does not include home additions or necessary repairs):
KITCHEN Average ROI = 83% (minor remodel), 78.1% (major remodel)*
Even within a particular room, project costs can vary widely depending on the extent of the improvements. A major kitchen remodel –custom cabinetry, expensive surfaces, high-end appliances, and engaging a designer – may cost upward of $100,000 and, on average, get a return on investment of about 78%. A minor kitchen "facelift", on the other hand, averages a similar ROI in percentage terms, but will cost far less. This more-modest project may entail cabinet refinishing, replacement of countertops and flooring, and perhaps swapping out dated appliances for new but inexpensive models that improve the room’s appearance.
BATHROOM Average ROI = 78.3%*
Bathroom remodels consistently rank at or near the top in term of return on investment. Whether it’s a powder room or a master bath, beautiful, updated surfaces, water-saving fixtures, and neutral tones are the minimal improvements that should be considered. Taking another step up, enlarging the room itself and adding luxurious "spa" elements such as a deep soaking tub, heated floors, and a double shower will obviously increase the budget and, likely, the appeal of a master bath.
ALL ROOMS – WINDOW REPLACEMENT Average ROI = 81.2% (wood), 79.3% (vinyl)*
Replacing windows may not rank high on the glamour scale, but buyers appreciate the appearance and improved energy efficiency of new windows and are willing to pay for them. Insulated windows are a smart improvement for homes in any climate, and will make the house look better both inside and out.
Here are a few more thoughts to keep in mind:
Regional differences – While the above figures are average, what’s most in demand in one geographical area may differ elsewhere. Do your homework before committing to a project.
Aim for universal appeal – Avoid highly unusual designs, strong colors, and unique custom components that can be polarizing to potential buyers. Remodeled spaces should look great to the widest possible audience.
Don’t over-improve – Homeowners should be careful to keep upgrades and improvements within the range of similar homes in their neighborhood. The most expensive home in the area, however attractive, is rarely the easiest to sell.
Friday, March 21, 2008
River Valley View
To view and search all MLS listed houses, condominium, and acrages in the Edmonton area visit us at: http://www.teamleadingedge.ca/
Listed over $123,000 below 2007 appraisal!
This 1728 sq.ft. former Acropolis Homes showhome located in prestigeous College Woods backs onto a permanent greenbelt and has a river valley view. With a total of 4 bedrooms this exquisite bungalow feature slate tile floors in the front entrance and kitchen. The kitchen has antique finished cabinets, granite counter tops and stainless fridge and gas stove. The large master bedroom has walk-in closet and a 5 pce. jacuzzi ensuite with heated tile floor. The basement is partially finished with family room and theatre room area seperated by a 3 sided gas fireplace. This home has too much to offer to list here so call me for more information at 780-995-6520 or view the virtual tour at:
or view the complete information at:
Steady Ground in Store; 2008 Real Estate Market to Balance Out
To view and search all MLS listed homes in the Edmonton area visit us at:
www.TeamLeadingEdge.ca
Often looking ahead requires us to look back, especially when it comes to markets and especially if you want to look ahead with any clarity, and the Edmonton real estate market in 2007 has a lot to say about what we should expect in 2008.
So let us look back at a year that can be best described as an up - down market. We saw an overly aggressive market in early 2007, fueled in part by fear of a rising Loonie and higher interest rates. The most positive story that has seldom been mentioned is our average selling price for 2007, which is up about 35% to $338,009 from $250,915, the average selling price in 2006. That's a massive increase. December 2006 to December 2007 average price was up almost 12% and that too is exceptional growth.
So where did this inventory come from and why weren't we prepared? Well investors played a big role by taking advantage of relaxed lending which brought tons of new buyers to an already heated market, and these investors had no intent on keeping the property beyond close. Investors were a big part of the growth of our market and are now playing a big part in the correction, isn't it amazing how everything seems to achieve a balance?
Another factor in our massive supply was new home buyers who were holding their current property as long as possible assuming the market would continue to grow. This was great advice earlier but some simple awareness earlier on would have saved that segment a lot of trouble.
Lastly, we are seeing a lot of sellers cashing in on their equity and moving it to other provinces and other markets which are seeing good growth potential and lower average prices. Investors are now looking to foreign markets such as the southern United States seeking higher growth with our higher dollar helping facilitate this.
Source: The Edmonton Sun - February 24, 2008
www.TeamLeadingEdge.ca
Often looking ahead requires us to look back, especially when it comes to markets and especially if you want to look ahead with any clarity, and the Edmonton real estate market in 2007 has a lot to say about what we should expect in 2008.
So let us look back at a year that can be best described as an up - down market. We saw an overly aggressive market in early 2007, fueled in part by fear of a rising Loonie and higher interest rates. The most positive story that has seldom been mentioned is our average selling price for 2007, which is up about 35% to $338,009 from $250,915, the average selling price in 2006. That's a massive increase. December 2006 to December 2007 average price was up almost 12% and that too is exceptional growth.
So where did this inventory come from and why weren't we prepared? Well investors played a big role by taking advantage of relaxed lending which brought tons of new buyers to an already heated market, and these investors had no intent on keeping the property beyond close. Investors were a big part of the growth of our market and are now playing a big part in the correction, isn't it amazing how everything seems to achieve a balance?
Another factor in our massive supply was new home buyers who were holding their current property as long as possible assuming the market would continue to grow. This was great advice earlier but some simple awareness earlier on would have saved that segment a lot of trouble.
Lastly, we are seeing a lot of sellers cashing in on their equity and moving it to other provinces and other markets which are seeing good growth potential and lower average prices. Investors are now looking to foreign markets such as the southern United States seeking higher growth with our higher dollar helping facilitate this.
Source: The Edmonton Sun - February 24, 2008
Thursday, March 20, 2008
Housing Prices unwavering so far this year
To view and search all Edmonton and area MLS listed homes visit us at:
www.TeamLeadingEdge.ca
The prices of single family homes and condominiums reported by the REALTORS® Association of Edmonton for February sales through the Multiple Listing Service® were up slightly over last month. Residential sales in February were lower than the past two years but slightly higher than the level set in 2005.
“Residential prices are generally stable even as the inventory increases,” said Marc Perras, president of the REALTORS® Association of Edmonton. “We predicted that sales would be on par with the last ‘normal’ year that we had in 2005. So far the market is behaving as we anticipated.” The number of available residential properties listed on the MLS® at the end of February was up 12.7% from the previous month at 8,284 properties. In February 2007 the inventory had just 2,120 properties.
Single family homes sold on average* for $381,965 in February, up just 0.6% from January and basically the same price they were at yearend. Condominium prices were up 2.4% to $264,204 in February. This is the highest average price for condos in the past five months. Duplex and rowhouse prices slipped for the fifth month in a row ending up 2.3% lower than January at $294,780 on average. The average residential price (which includes SFD, condo, duplex, mobile homes and other types of residential property) was up 1.9% to $338,347.
The number of residential properties coming into the market was up from January listings. There were 3,569 properties listed with sales of 1,287 for a sales-to-listing ratio of 36%. Total residential sales for the month were $435 million down from $606 million in February 2007. Total sales through the MLS® were $495 million for the month.
All data provided by the Edmonton Real Estate Board.
www.TeamLeadingEdge.ca
The prices of single family homes and condominiums reported by the REALTORS® Association of Edmonton for February sales through the Multiple Listing Service® were up slightly over last month. Residential sales in February were lower than the past two years but slightly higher than the level set in 2005.
“Residential prices are generally stable even as the inventory increases,” said Marc Perras, president of the REALTORS® Association of Edmonton. “We predicted that sales would be on par with the last ‘normal’ year that we had in 2005. So far the market is behaving as we anticipated.” The number of available residential properties listed on the MLS® at the end of February was up 12.7% from the previous month at 8,284 properties. In February 2007 the inventory had just 2,120 properties.
Single family homes sold on average* for $381,965 in February, up just 0.6% from January and basically the same price they were at yearend. Condominium prices were up 2.4% to $264,204 in February. This is the highest average price for condos in the past five months. Duplex and rowhouse prices slipped for the fifth month in a row ending up 2.3% lower than January at $294,780 on average. The average residential price (which includes SFD, condo, duplex, mobile homes and other types of residential property) was up 1.9% to $338,347.
The number of residential properties coming into the market was up from January listings. There were 3,569 properties listed with sales of 1,287 for a sales-to-listing ratio of 36%. Total residential sales for the month were $435 million down from $606 million in February 2007. Total sales through the MLS® were $495 million for the month.
All data provided by the Edmonton Real Estate Board.
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