Edmonton Real Estate

Edmonton resale housing market sizzles in third quarter

2008-10-08T07:29:00.000-07:00

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

REALTORS® have been kept busy with strong sales of homes through the Multiple Listing Service® in the past three months. September residential sales were up 65.9% from the same month in 2007 and built on year-over-year sales increases in July and August.

“Edmonton may be the only housing market in western Canada that has increased sales in the third quarter,” said Marc Perras, president of the REALTORS® Association of Edmonton. “After peaking at record sales numbers in early 2007 the market slowed through the first half of this year. But sales have certainly picked up to the normal range and surpassed same month sales from last year.”

There were 1,140 sales of single family residences in September with an average price* of $362,097 down 1.9% from last month. Condominium sales were up from the previous month by 11.7% with an average price of $252,234 on 477 sales during September. Duplex and rowhouses sold on average for $315,690, which was up 0.1% from August with sales of 79 units. The average residential sales price (including all types of residential property) was down 1.3% from last month to $324,906.

“The sales increases may have been helped by slightly softer prices for all types of homes,” said Perras. “But a bigger factor is the continuing strength of the local economy including low unemployment, low vacancy rates and economic growth at four times the national average.” He also noted that the average price for single family homes may be lower because of the increased number of entry level priced homes being sold as compared to pricier move-up or estate sales.
“Home buyers have come to the realization that a sudden market collapse in Edmonton is unlikely and that now is actually a good time to buy a home while inventory still remains high and interest rates are low,” he said.

There were 8,808 homes in the MLS® inventory at the end of September (down 804 units) based on 3,140 listings and 1,729 sales during the month. The sales-to-listing ratio was 55% (51% in August) and days on market was down by two days to 61 days in September. Total residential sales for the month were worth $562 million contributing to a total of $5.63 billion in total MLS® sales this year.
Source: Realtors Association of Edmonton

FALL MAINTENANCE CHECKLIST

2008-10-07T12:23:00.000-07:00

To view and search all Edmonton and area MLS listings visit us at:
www.FindMyHouse.ca

It is that time of year again when thoughts of that oncoming winter pops to mind. And this is the time that you should be getting your home ready for the winter months. Heree is a brief checklist to guide you through some basic tasks before it is too late:

GROUNDS:
Check window wells, dry wells and storm drains for debris or blockage.
Repair any driveway cracks and/or heaved or settled walkways.
Trim all trees and shrubs that are too close to the house.
Check (ideally during a rainstorm) for rainwater drainage away foundation.
Clean and put summer furnishings away.
Drain and store garden hoses.

EXTERIOR SURFACES
Check weathertightness of all exterior surfaces and components.
Check for deterioration of painted or finished areas. If too late for a full paint job, prime and touch-up bare wood surfaces.
Caulk and seal all joints in siding, around windows and doors.
Check and seal any foundation cracks.
Improve weatherstripping at exterior doors and windows as needed.
Reset storms and screens where required.
Look for any signs of insect or pest activity around the foundation and at wood components close to the ground.

ROOF (Use binoculars or hire a professional.)
Check for loose, damaged or missing roofing.
Check eave areas for signs of moisture build-up or damage.
Check the condition of chimneys.
Check flashings for signs of lifting or damage and repair as needed.
Check and clean all gutters (eavestroughs) and downspouts.

ATTIC
Check ventilation openings for nests or other blockage.
Check the position and condition of insulation for uniform coverage.
Look for any signs of excessive moisture or heat buildup.

INTERIOR ROOMS
Check all areas for signs of roof or plumbing leakage.
Have any fireplaces or wood stoves and flues checked and professionally cleaned.
Reset automatic timers for the change in daylight hours.
Check all smoke/carbon monoxide detectors. Replace batteries if over a year old.
Test Ground-Fault Circuit-Interrupters (GFCI’s) using built-in test buttons.

HEATING/COOLING SYSTEMS
Clean all elements of the cooling system.
Remove (or winterize) room air conditioners.
Follow manufacturer instructions for the maintenance of your heating system.
Change or clean heating system filters on warm air systems (now and regularly).
Check heating and cooling systems for any evidence of water leaks.
If present, clean and test the humidifier.
Have your heating system serviced annually by a qualified heating serviceperson before the heating season to keep it functioning efficiently and properly.

PLUMBING
Drain exterior water lines and open taps (in cold areas).
Insulate water lines that are subject to freezing.
Check the condition and temperature setting of the water heater. Follow the manufacturer’s recommendations for the temperature setting.
Check the plumbing system and fixtures for any evidence of water leaks or blocked drains.
Confirm proper operation of any sump pumps and free flow of the drain line.
Remember, these tips are only general guidelines. Since each situation is different, contact a professional if you have questions about a specific issue.

RE/MAX Global Balloon Day Marks 30 Years of Flight

2008-10-06T14:49:00.000-07:00

To View and Search all MLS Listed Homes in Edmonton Visit Us At:
www.FindMyHouse.ca

RE/MAX of Western Canada Joins Worldwide Celebration of Anniversary

(Kelowna, BC Oct. 6, 2008) – RE/MAX of Western Canada will join RE/MAX offices around the globe in commemorating the 30th anniversary of the renowned RE/MAX Hot Air Balloon. Eight RE/MAX hot air balloons are scheduled to fly in Edmonton, Calgary, the Fraser Valley (of Vancouver), Winnipeg, Saskatoon, Regina and Grande Prairie to commemorate the first flight of a RE/MAX balloon, in 1978.

“It’s an excellent opportunity to celebrate our company’s heritage,” said Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. “The RE/MAX brand, including the balloon, is a big part of what’s made our brand so successful – it’s a symbol of our commitment to rise above the crowd and provide the most professional real estate services to real estate customers and clients in Western Canada.”

These flights will be held in conjunction with RE/MAX Hot Air Balloon flights at locations around the world. RE/MAX balloons will fly in a kaleidoscope of more than 700 colourful hot air balloons in the “Flight of the Nations Mass Ascension” during the Albuquerque International Balloon Fiesta, October 4-12, 2008. In Oregon, RE/MAX pilot Darren Kling, will attempt a crossing of the Cascade Mountains, taking off in the Willamette Valley, passing by Mt. Jefferson and landing near Bend.

The RE/MAX Hot Air Balloon Fleet is one of the largest in the world, with over 100 balloons located on six continents. The distinctive red, white and blue balloon, which represents the international real estate network, has become one of the most recognized corporate images in the world.

Because of the strong brand awareness it creates, the RE/MAX balloon has helped take the international franchisor to the top of several national and international brand rankings including Advertising Age’s Top 200 US Megabrands and Entrepreneur Magazine’s Franchise 500 Survey. In these two surveys, RE/MAX was the highest ranked real estate franchisor. In the Entrepreneur Franchise 500, RE/MAX has been the highest ranked real estate franchisor for eight of the last ten years.

Information about the RE/MAX Hot Air Balloon program can be found at www.remax.com.

Stay Cool - DUCTLESS AIR CONDITIONING

2008-07-03T16:37:00.000-07:00

To view and search all MLS listed homes for sale visit me at: www.FindMyHouse.ca

Ductless air conditioners and heat pumps are gaining in popularity as a means of providing cooling for a house. These systems function much the same as any other air conditioning or heat pump, except that they do not require ductwork to distribute air throughout the house. They are particularly practical for existing homes where there is no ductwork already installed for heating or cooling purposes.

This feature can produce substantial energy savings over a ducted air distribution system as there is no opportunity for the loss of conditioned air from the ductwork running through attics, basements or crawls spaces. Duct losses can account for more than 25% of energy consumption. Ductless systems consist of an outside unit containing the usual air conditioner and heat pump components and a relatively small indoor fan-coil unit that can be located on any nearby wall. The usual heat pump (or air conditioner) refrigerant tubing connects the two elements. These systems are ideal for smaller houses, remote rooms in large houses or for houses that have an open floor plan. This gives you the ability to “zone” or control heating and cooling to different parts of your home by using additional indoor air handling units.

The two primary components of a ductless system are: an outdoor condensing unit, and one or more indoor air handling units. The use of multiple air handlers connected to a single condenser gives the system its alternate name — mini-split. A conduit, which houses the power cable, refrigerant tubing, and condensate drain, links the outdoor and indoor units. A filter is located at each air handler.

The main advantages of mini-split systems include:
Compact size
Flexible positioning
Ease of installation
Remote controls
Zone cooling
No energy loss on distribution

The compact size and low profile of the indoor air handlers offers flexibility of placement. With its non-obtrusive casing only extending out about 6-8 inches from the wall or ceiling surface there are numerous placement options in most rooms. They can be suspended from a ceiling, mounted flush into a drop ceiling, or hung on a wall. While ceiling or high wall placement is preferred, floor-mount units are also available.

Remote control features make it easier to control the system, especially when air handlers are positioned high on walls or suspended from ceilings. A remote can be used for selection of all system functions such as the temperature setpoint, switch to fan-only operation, redirecting the vanes on louvers, setting on/off timers, and adjusting energy-saver settings. Most units have automatic louver mechanisms that oscillate the air vanes for balanced airflow.

Most systems allow up to three air handling units (containing the evaporator coil) to be connected to a single outdoor condensing unit, depending on how much heating or cooling is required for each zone. Duct vibration noises and duct dirt/mold accumulations are also eliminated with a ductless system. Heat pump models are also available.

The primary disadvantage of ductless systems is their cost. Such systems cost about 30% more than conventional central systems, exclusive of ductwork, and may cost twice as much as window units of similar capacity. The appearance of the indoor unit is an issue for some people. Most air handlers have sleek modern designs, but they still are a component that would not typically be seen in the living area of a house with a conventional central system. However, they do not take up the window space that a window-mounted unit requires.

Remember, these tips are only general guidelines. Since each situation is different, contact a professional if you have questions about a specific issue

Edmonton Real Estate Statistic Ending June 06, 2008

2008-06-06T15:13:00.000-07:00

To view and search all homes listed for sale on MLS in the Edmonton area visit me at: www.FindMyHouse.ca

To view the video of this week's real estate update click on the following link:
http://www.youtube.com/watch?v=k7UgnvDlzy8

To price your own home online for free visit us at: www.TeamLeadingEdge.ca

Edmonton Real Estate Statistic Ending May 30, 2008

2008-05-30T14:35:00.000-07:00

To view and search all homes listed for sale on MLS in the Edmonton area visit me at: www.FindMyHouse.ca

To view the video of this week's real estate update click on the following link:
http://www.youtube.com/watch?v=Dk_X2HM6ySs

Video of 1620 Hector Rd.

2008-05-29T11:42:00.000-07:00

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

Former Showhome

1620 Hector Rd.

List Price:$816,900

View the video: http://www.youtube.com/watch?v=qJtW2ipxQj4

APPRAISED FOR $940,000 IN 2007. Located in the Prestigious community of College Woods this Exquisite Bungalow has 1730 sq. ft of relaxing living space with 4 bedrooms and 3 full baths. Featuring a large kitchen with stainless steel appliances and granite counters, formal dining room with gorgeous chandelier, master bedroom with a huge walk-in closet and 5 piece ensuite, basement is partly finished with a large family room that features a sided fireplace and 2 bedrooms. ( approx. 700 sq. ft of undeveloped basement). This home also includes large windows, remote controlled Venetian blinds, remote controlled exterior shutters, central air conditioning and a security system. And don't forget the Fantastic valley view. All landscaping was professionally done giving the backyard a peaceful oasis feeling with a pond and waterfall. All measurements and information to be verified by purchaser.

To find the value of your home online for free visit us at: http://www.teamleadingedge.ca/

STAGING YOUR HOME FOR SALE

2008-05-29T11:37:00.000-07:00

To view and search all houses, condominiums, and acreages listed on MLS for sale visit me at www.FindMyHouse.ca

Selling your home? Beyond the basics of completing needed repairs and addressing any issues revealed in your pre-listing home inspection, it’s also important to consider the effect your home’s appearance will have on prospective buyers. "Staging" a home should be thought of as creating an appealing but neutral space that will allow buyers to see the potential of your home. Naturally, it’s difficult to look at your own home objectively; it’s yours, after all. So consider enlisting a friend to help you evaluate your space, or you may wish to hire a professional home stager to make your home the star of the show.

Here are some tricks to consider:

* Staging is more about subtraction than addition. A room stuffed full of furniture will looked small, crowded, and difficult to move around in. Ideally, only the basic furniture should remain in order to highlight the size of each room.
* Get rid of clutter! Pack up your everyday items on table and dresser surfaces, knickknacks, magazines, electronics, etc. You want buyers to focus on your home, not on your "stuff".
* Remove personal items from view. While of course you love displaying your family’s photos and cherished mementos, they are a distraction for potential buyers. A buyer wants to be able to see themselves in the home and not feel as though they’re in someone else’s space.
* Take everything off the kitchen counters and display a few cookbooks and a beautiful glass bowl of lemons instead. A bouquet of flowers – real or silk – on the dining table is a nice touch.
* In bathrooms, get all of the clutter off the countertops and sink area. A few fluffy towels and attractive soaps can provide that "spa" feeling with minimal cost.
* Be sure walls and flooring are clean and maintained. Paint any rooms where the walls are in bad shape as well as any that have strong, "polarizing" colors. A potential buyer might find your red dining room and the purple in your teen’s bedroom a real turnoff.
* Have the exterior painted if its condition warrants improvement. As with interior paint, neutral colors work best.
* A few large potted houseplants can soften a room and make it feel friendly and fresh.
* Don’t forget the curb appeal of landscaping. Trim any overgrown bushes that may be blocking windows or walkways and remove any weeds. A few dollars’ worth of bright flowering plants can be charming when planted by a walkway, doorway, and mailbox.

To find the value of your home online for free visit us at: www.TeamLeadingEdge.ca

Western prosperity boosts housing markets in Atlantic Canada

2008-05-28T13:18:00.000-07:00

To view and search all homes listed on MLS for sale in the Edmonton area visit me at: http://www.findmyhouse.ca/

Alberta's red-hot economy is fuelling demand for residential real estate in Nova Scotia, PEI, New Brunswick, and Newfoundland this year, according to a report released today by RE/MAX Ontario-Atlantic Canada. "Strong economic performance in Western Canada continues to spillover into other parts of the country," says Michael Polzler, executive vp and regional director. "A serious influx of Western Canadian purchasers has bolstered housing sales in every Atlantic province." The report found that in-migration from Western Canada has played a major role in stimulating home-buying activity in key regional centres. While most purchases were made with retirement in mind, investment in residential real estate was also a factor driving sales. The wealth effect has also contributed to a bounce back in sales after one of the worst winters on record. In fact, 82% of markets surveyed in Atlantic Canada saw a reversal of trends in April. First-time buyers are a major force in most Atlantic markets surveyed, driving demand for residential properties priced at approximately $100,000 plus. Inventory in virtually every market is tight at the entry-level price point. The top-end of the market -- priced in excess of $250,000-$300,000 in most areas -- has also been brisk. Waterfront properties, in particular, have benefited from the increase in Western Canadian and European purchasers.

Newfoundland-Labrador currently leads the region overall in terms of percentage increases in both unit sales and average price, with the number of homes sold up close to 18% year-to-date and average price up almost 15%, compared to the same period one year ago. "Housing performance in Newfoundland has been nothing short of remarkable," says Polzler. "There are $10 billion in capital works projects on the table and the pressure in the real estate market is only starting to build. By year-end 2008, housing sales and values are expected to climb by double-digits, leading not only the region, but the country, in terms of percentage increase."

Source:
Lee Politano, B. Comm
Manager, Residential Mortgages
Ph: 780-264-1749
Fx: 780-637-1637
lee.politano@td.com
www.tdcanadatrust.com/msf/leepolitano

To find the value of your home online for free visit us at: http://www.teamleadingedge.ca/

Open House - June 01, 2008

2008-05-27T09:46:00.000-07:00

To view and search all houses, condominiums, and acreages listed for sale on the Edmonton and area MLS visit me at http://www.findmyhouse.ca/

151 Kiniski Crescent

Open House: Sunday June 01, 2008

Time: 1-4pm

Beautifully decorated and upgraded 3 bedroom bi-level with a double garage. Upgrades include new furnace and hot water tank in 2005, newer laminate floors throughout the main level, baseboards and interior doors. The wind owns in the bay windows have been also replace. The large fenced yard features a unistone patio and back onto a green belt. The lower level development features a large family room with new track and pot lights. Also in the lower level you will find the 3rd bedroom, a second bathroom, and the laundry room. This home must be seen to be appreciated. All measurements and information to be verified by the purchasers. Virtual Tour: http://www.youtube.com/watch?v=egjswmZ-sbM

To price your own home online for free visit us at http://www.teamleadingedge.ca/

New Virtual Video of 208 Omand Drive

2008-05-26T15:28:00.000-07:00

To view and search all MLS listed homes for sale in the Edmonton area visit me at: www.FindMyHouse.ca

We have just posted a virtual video on this beautiful home in Whitemud Creek listed for a mere $588,888

http://www.youtube.com/watch?v=74cFBFqGcbc

JUST REDUCED - 208 Omand Drive

2008-05-23T17:08:00.000-07:00

To view and search all MLS listed houses, condominiums, and acreages for sale in the Edmonton area visit me at http://www.findmyhouse.ca/

Now the lowest price home in Whitemud Creek

New list price $588,888Upgraded and renovated 4 bedroom 2 storey home just steps away from the ravine and trail system connecting the city parks. To view all the information and pictures just click the following link: http://www.teamleadingedge.ca/view_listing/Ogilvie_Ridge/mls/E3138101

To find the value of your home online for free visit us at: http://www.teamleadingedge.ca/

New Listing - May 21, 2008

2008-05-22T10:34:00.000-07:00

To view and search all MLS listed houses, condominiums, and acreages for sale in the Edmonton area visit me at http://www.findmyhouse.ca/

Location: 151 Kiniski Crescent

Price: $314,900

Perfect Starter Home

Impeccable 3 bedroom bi-level home with a fully finished basement, double detached garage, and a large fenced back yard backing onto a green belt. This home has had many upgrades in the last few years including new furnace, hot water tank, laminate floors, carpeting, baseboards and casings, and interior doors.

To view the interior video of this home visit me at: http://www.youtube.com/watch?v=egjswmZ-sbM

To find the value of your home online for free visit us at: http://www.teamleadingedge.ca/

Fixed Mortgage Rates vs. Prime (variable) Rate Mortgage

2008-05-21T10:33:00.000-07:00

To view and search all MLS listed homes for sale in the Edmonton area visit me at: http://www.findmyhouse.ca/

Good morning, the graph is showing a ten year comparison of fixed rates vs. prime rates. This further illustrates the value in obtaining a HELOC when financing a home. Please let me know if you have any financing related questions or clients who are interested in refinancing and would be good candidates for the HELOC product. Thank you and have a great day!

Lee Politano, B. Comm
Manager, Residential Mortgages
Ph: 780-264-1749
Fx: 780-637-1637
lee.politano@td.com
http://www.blogger.com/www.tdcanadatrust.com/msf/leepolitano

Blue is prime rate and Red is 5 year Fixed rate

Edmonton Real Estate Statistic Ending May 16, 2008

2008-05-16T18:40:00.000-07:00

To view and search all MLS houses, condominiums, and acreages for sale in the Edmonton area visit me at: www.FindMyHouse.ca

To view this weeks real estate statistic update for the Edmonton area just click the following link to see the video.

http://www.youtube.com/watch?v=A-5YrPrsV9k

Canadians remain confident in housing market: survey

2008-05-15T09:48:00.001-07:00

To view and search all MLS listed homes for sale in the Edmonton area visit me at: www.FindMyHouse.ca

Canadians overall are not influenced by the speculation that the Canadian
economy will be negatively affected by the U.S. economic downturn,
according to a report released today by the Canadian Association of
Accredited Mortgage Professionals (CAAMP). According to the report,
Canadians have shown themselves to be keen observers of the fallout from
the subprime mortgage meltdown south of the border. Awareness of the U.S.
housing crisis is up from last year, as only 11% of those surveyed said
they were not at all aware of the U.S. housing crisis, compared with 22%
who were in the dark in the fall of last year. When it comes to choosing
the best time to purchase, the survey results were mixed. One-third of
respondents said now was a good time to buy a house, one-third said it was
not a good time and the final third were neutral. "This report indicates
mortgage consumers are educated, informed, and attuned to local market
conditions," said Jim Murphy, president and CEO of CAAMP. "Canadians are
aware of the strength of the economy and remain confident in our housing
and mortgage markets." The most positive attitudes are in the Atlantic
region, the survey showed, where 49% of residents feel it is a good time to
purchase a home. Meanwhile, in western Canada, consumers are making
decisions based on rising housing prices and deteriorating affordability.
For example, 70% of Saskatchewan residents have reacted to the province's
current hot housing market and felt it was not an appropriate time to
purchase a home-which is even higher than the 60% who held this view in the
Fall of 2007. Canadians have yet to react to suggestions that the economy
will soon start feeling the impact of higher energy and food prices, and
that Ontario is hovering close to a recession, according to the CAAMP
survey. "Job creation in Canada is still very strong. Moreover, the housing
market doesn't respond immediately to swings in employment; it takes people
time to react to changes in personal circumstance," said CAAMP chief
economist Will Dunning. "Even if recent forecasts are right and the labour
market in Canada should start to weaken, momentum from past job creation
should result in continued strong housing demand well into 2009," he added.
Alternative mortgage products, including longer amortization periods, no
down-payment mortgages, and interest-only mortgages, continue to grow in
popularity in Canada. In 2007, CAAMP found that 37% of recent home
purchases had been funded with extended amortization mortgages. In the
current survey the most positive opinions are held by people who are most
likely to be in a position to use extended amortization products - renters
looking to buy. Younger Canadians looking to become first-time home owners
are most interested in alternative mortgage products and while cautious and
conservative, they are optimistic about the overall future of these
options. "CAAMP members are committed to working with consumers to ensure
they have the mortgage solution that is affordable and best suited for
their unique needs," said Andrew Moor, chairman of CAAMP. In addition, the
report says that the arrears rate for residential mortgages remains close
to the very low levels that have held since mid-decade, about one quarter
of a percentage point. Canada has certainly not experienced the sharp
increase in arrears and defaults that has occurred in the United States. As
well, CAAMP reports that the mortgage market and volume of mortgages
outstanding continues to expand. More than 11% growth is forecast for 2008
for a total of $913 billion, up from $821.5 billion in 2007. With this
growth comes a shift in mortgage lending activity. Residential mortgages
are provided by a wide variety of lending institutions, ranging from the
chartered banks to credit unions, caisses populaires, and insurance
companies, among others. "Mortgage brokers are fast becoming a trusted
source and are growing in popularity with first time buyers and
increasingly with other consumers," said Moor. "More than one-third of
mortgage transactions for new homeowners came through brokers." The report,
"Housing and Mortgage Market Trends in Canada," was authored Dunning and is
based on information gathered by Maritz Research in an online survey
conducted in April 2008.

Lee Politano
Manager Residential Mortgages
TD Canada Trust
Tel 780 264-1749
www.tdcanadtrust.com/msf/leepolitano
"Making the impossible...POSSIBLE!!"

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To find the value of your own home online for free visit us at www.TeamLeadingEdge.ca

MLS® housing sales and prices remain stable in April

2008-05-08T09:11:00.000-07:00

To view and search all MLS listed houses, condominiums, and acreages for sale in the Edmonton area visit me at: www.FindMyHouse.ca

Single family house prices for the month of April were stable. The average price for single family homes dropped less than half a percent in April to $386,033. Residential sales through the MLS® in April were lower than the two previous years at 1,823 units.

Single family home prices are still 6.6% lower than April 2007. Condos sold on average for $256,947, a decrease of 2.3% from last month. On the other hand, duplexes and rowhouses sold during April were priced 2.3% higher at $316,065 on average. Overall, the average price for all types of residential property was down 2% at $336,931 when compared to March and down just 2.1% from a year ago.

“The Edmonton housing market is stable and buyers and sellers seem to be coming to a realistic view of housing prices,” said Marc Perras, president of the REALTORS® Association of Edmonton. “In this market, with a very high inventory, pricing is a key component of a successful sale.”

There are 10,606 residential properties currently available on the MLS® (up 12% from last month’s record inventory). The average days on market was just 52 days; up one from March. There were 4,471 residential listings during the month and the sales to listing ratio is a low 41%. Total residential sales were $1.99 billion and total MLS® sales were $2.3 billion.

Real estate in Edmonton continues to be a buyer-friendly market. Keeping an open mind and thinking realistically about the housing market and the prices of homes are key elements to a successful purchase.

To find out the value of your home online for free visit us at: www.TeamLeadingEdge.ca

Bank of Canada likely to trim rates again: TD Economics

2008-05-07T15:53:00.000-07:00

To view and search all MLS listed houses, condominiums, and acreages for sale in the Edmonton area visit me at: www.FindMyHouse.ca

The U.S. economic outlook is still gloomy, and economists at TD Bank expect another 100 basis points in rate cuts out of the Bank of Canada to help fend off any fallout north of the border. Last week, the U.S. Federal Reserve pared back the pace of its rate cuts, delivering just a 25 bps rate cut, and the Fed's economic assessment was not quite as bad as feared, notes TD Economics in a research brief. "Even before the Fed delivered the rate cut, expectations for easing at the April 30 meeting had been scaled back. And with the statement that accompanied the decision, there are now indications that the Fed is not as worried about downside growth risks as it was just six weeks ago. What has shifted?" TD asks. "Not much, quite frankly, when assessing economic fundamentals. In fact, the U.S. economy seems to be decelerating at an accelerating pace," it says, noting that the labour market is clearly in contraction, GDP growth is slowing and domestic demand is weakening. . Yet there have been signs of repair in the credit markets, TD says. "Against this backdrop, it is obvious the economy is not out of the woods yet, and although there are heartening signs of improvement in the credit market, it too, has much work still to do. The U.S. economic slowdown in this cycle is expected to be worse than that in 2001, and on this condition alone one can justify further Fed easing to address the situation. We continue to expect another 75 basis points of rate cuts based on our expectation that economic conditions will get much worse before staging a convincing and sustained turnaround," TD predicts.
"The Canadian economy has started to show signs of strain, due to the headwinds from the U.S. economy creating a substantial drag on Canadian exports. Canadian real GDP is, therefore, on track to disappoint the Bank of Canada's forecast for a 1% pace of growth in the first quarter," it adds. "The combination of little upside for growth and few imminently concerning price pressures makes a good recipe for further rate cuts. And as a result we continue to expect two more 50 basis point rate cuts by the Bank of Canada, which ultimately leaves rates at a cyclical nadir of 2.0%,"TD concludes.

Lee Politano, B. Comm
Manager, Residential Mortgages
Ph: 780-264-1749
Fx: 780-637-1637
lee.politano@td.com
www.tdcanadatrust.com/msf/leepolitano

To find the value of your home online for free visit us at: www.TeamLeadingEdge.ca

RE/MAX Awards $12,000 in Bursaries to High School Graduates

2008-05-05T13:32:00.000-07:00

To view and search all MLS listed houses, condominiums, and acreages for sale in the Edmonton area visit me at: www.FindMyHouse.ca

RE/MAX Awards $12,000 in Bursaries to High School Graduates

Kelowna, BC (May 5, 2008) – Twenty four students from Western Canada were recently notified that they will be individually presented with a RE/MAX 2008 ‘Quest for Excellence’ bursary, valued at $500, during their school commencement ceremonies.

The annual RE/MAX Quest for Excellence program encourages graduating students from British Columbia, Alberta, Saskatchewan, Manitoba, and the North West and Yukon Territories to write an essay based on their personal experience in one of six topics – Leadership, Sports, Technology & Trades, Performing Arts, Fine Arts and Community Service.

“A record breaking 1568 entries were received from students across Western Canada,” says Marie Sheppy, Senior Coordinator, Corporate Affairs, RE/MAX of Western Canada. “Each year, the caliber of essays we receive far exceed our expectations. These young adults are sure to succeed in their chosen field and we are pleased that we can help fuel their achievements.”

“In the spirit of giving back to our communities, we take pride in knowing that RE/MAX can help students reach their education goals”, says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. “We hope that the bursary program encourages the applicants to continue to strive in their Quest for Excellence”

Quest for Excellence Award Winners are as follows:

Leadership Category – Alyssa Anderson, Lloydminster, SK, Carmen Danyluk, Kamsack, SK, Matthew Roy, Victoria, BC, Gladys Yeung, Winnipeg, MB

Sports Category – Taylor Gordon, Kamloops, BC, Kieran Halliday, Parksville, BC, Gabrielle Hodgson, Vancouver, BC, Kait Serafin, Vernon, BC

Technology & Trades Category – Joshua Craig, Westbank, BC, Dallas Hale, Delta, BC, Donna Shuman, Victoria, BC, Brittany Wall, Brandon, MB

Performing Arts Category – Jing Cheng, Delta, BC, Michelle Huie, Calgary, AB, Bernice Pui, Edmonton, AB, Matthew Zimmerman, Steinbach, MB

Fine Arts Category – Denay Amaral, Kitimat, BC, Callan Field, Calgary, AB, Natasha Ivanovic, Surrey, BC, Janyne Laing, Gallivan, SK

Community Service Category – Salina Haramsi, Vancouver, BC, Neil Kalra, Saskatoon, SK, Kelsey Phillips, Edmonton, AB, Celia White, Nanaimo, BC

RE/MAX is Canada’s leading real estate organization with over 17,800 sales associates situated throughout its more than 638 independently owned and operated offices across the country. The RE/MAX franchise network, now in its 35th year, is a global real estate system operating in over 65 countries. More than 7,000 independently owned offices engage over 110,000 member sales associates who lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral and asset management. For more information, visit: www.remax.ca

For more information: Marie Sheppy
RE/MAX of Western Canada
Office: (250) 860-3628

Edmonton Real Estate Statistic Ending May 04, 2008

2008-05-04T12:33:00.000-07:00

To view and search all MLS listed houses, condominiums, and acreages for sale visit me at www.FindMyHouse.ca

Well the listing inventory contiunes to rise. Currently on the Edmonton Real Estate Board we have 14,342 properties listed. Which consist of 7,112 residential homes, 3,699 condominiums and 1,436 acreages.

In Edmonton proper we have 7,001 active listings. In the last 30 days we have had 1,134 sales. That give us a listings to sales ratio of 6.17:1. With that high of a ratio I will expect the see continued downward pressure still on home valuations.

We are still expecting the market to stabilize and even possibly see an increase in valuations before the end of the year.

The current market trend makes our current situation a perfect for a buyer to pick up tremendous deals before we see the market turn around.

Preventive Maintenance Pays For Itself

2008-05-02T14:51:00.001-07:00

To view and search all MLS listed homes for sale visit me at: www.FindMyHouse.ca

Consumers should remember that maintenance costs need to be considered when purchasing a home. All homes require constant care. General estimates indicate that every home will require between 1 percent and 3 percent of the home's value in annual maintenance costs in order to keep it in good condition, and this figure does not necessarily include major or emergency repairs. But since you already own your home - let’s talk about how to create some best practices when it comes to maintaining your home.

The ongoing maintenance of a home is a significant contributor to holding or increasing its value. All homeowners should plan a solid preventive maintenance schedule, so potential problems can be fixed before they become more costly and damaging. Quite often when we inspect homes, many of the defects we find would have been preventable with some routine monitoring and smaller repairs. But left unchecked, minor concerns grow into more significant problems.

There are many other benefits for current and potential homeowners when they incorporate preventive maintenance into their annual planning. Preventive maintenance:
Avoids expensive emergency repairs: Contractor fees rise in proportion to the urgency and the hour of the service call.
Saves money and aggravation: Repairs planned for completion during off-peak times are less expensive and less stressful.
Minimizes homeowner insurance premiums: Correcting deficiencies before they lead to catastrophic failure and a possible insurance claim will keep premiums reasonable.
Eliminates costly consequential damage: When major home components, like a roof, fail, the damage to home interiors and furnishings can be substantial.
Homes in good condition sell at higher prices than neglected counterparts.
Every house is different, and maintenance needed at different times of the year will vary. But for now, here is a Spring Maintenance Checklist to start your own preventive maintenance program.

Spring Maintenance Checklist
GROUNDS
Check condition of driveways and walks.
Check window wells, dry wells and storm drains for blockage.
Check fencing conditions and gate operation.
Check retaining walls for cracks, bulges and leaning.
Check all landscaping; trim all bushes and trees.
Check all out-buildings, porches and patios.
Check for proper grading and drainage throughout property.
Check lawn sprinkler system operation.
Check all equipment in preparation of pool opening.
Check (during rainstorm) for drainage away from foundation.

SIDING AND CHIMNEYS
Check all surfaces for damage or deterioration.
Check caulking at all joints.
Treat or paint worn or exposed wood components.
Check condition of masonry chimneys and vents.
Check foundation for settlement, cracks and spalling.

WINDOWS AND DOORS
Check for damaged screens or broken glass.
Check weatherstripping, caulking, and window putty.
Check for frame decay or damage.
Clean and install screens.

ROOFS
Check for loose, damaged or missing roofing.
Check fascia and soffit for signs of leaks/moisture build-up.
Check all flashings for fit and seals.
Check television antenna or satellite dish mounting.
Check and clean all gutters (eavestroughs) and downspouts.
Clean fungi or algae from roof surfaces.

PORCH AND PATIO
Check all wooden supports and railing components.
Check flooring for wear or damage.
Apply preservative to wood decking and components.
Seal patios at foundation.

INSECT INFESTATION
Check for signs of termite, ant or other insect activity.
Check for insect damage.
Arrange for treatment or repair.

INTERIOR AREAS
Check attic, ceilings and walls for evidence of leaks.
Check ventilation openings for nests, or other blockage.
Check condition of all painted or finished walls and trim.
Check carpet and flooring for wear or damage.
Check condition of all stairs and railings.
Check condition and operation of all windows and doors.
Test smoke/fire alarms and carbon monoxide detectors.

SLAB/FOUNDATION
Check for cracks or breaks in wall.
Check for evidence of water infiltration or dampness.
Check for decaying sills and window frames.
Check for signs of termite, ant or other insect activity
Check for changes in framing conditions.
Check crawlspace ventilation, insulation, and vapor retarders.
Test, clean and lubricate sump pump.

ELECTRICAL SYSTEM
Assess power distribution for overloads issues.
Check condition of incoming service wire and supports.
Test circuit breakers and label all circuits at panel.
Test arc-fault and ground-fault circuit-interrupters (regularly).
Check circuits for over-fusing.
Check all receptacles and switches.
Check operation of vent and/or attic fans.

HEATING/COOLNG SYSTEMS
Follow manufacturer instructions for HVAC systems.
Inspect and install room air conditioners.
Clean all serviceable elements of heating system.
Change or clean heating system filter (regularly).
Check venting systems for corrosion and leaks.
Clean and de-energize humidifier.
Check and lubricate attic fan.

PLUMBING SYSTEM
De-winterize and check exterior faucets.
Check well and components.
Check septic tanks and systems.
Check water and waste piping for leaks.
Check hot water supply temperature.
Follow manufacturer instructions for water heater.

KITCHEN/BATHROOMS
Check condition and operation of all appliances.
Clean and change range fan filters.
Check all toilet flush mechanisms.
Check and repair all leaking faucets and valves.
Caulk and grout tile at tubs and showers.
Clean aerators and showerhead.

Click to here view HouseMaster’s Preventative Maintenance Checklist
Remember, these tips are only general guidelines. Since each situation is different, contact a professional if you have questions about a specific issue. More home safety and maintenance information is available online at www.housemaster.com.
To find the value of your home online for free visit us at: www.TeamLeadingEdge.ca

Just Reduced... Only $394,899

2008-05-01T21:22:00.000-07:00

To view and search all MLS listed houses, condominiums and acreages for sale in the Edmonton area visit me at: http://www.findmyhouse.ca/

Jackson Heights Bi-Level with attached garage.

Immaculate and well maintained bi-level home situated in a quiet cul-de-sac. Extra large eat-in kitchen featuring oak cabinets with pantry and french pocket door slider to dining room. The living room features a gas fireplace plus a bay window. The large master bedroom has a 3 pce. ensuite and a walk-in closet. In the basement there is roughed in double plumbing waiting and ready for another bathroom, and the rest the the large basement is unspoiled and ready to be developed just the way you want it. Situated on a large landscaped lot.

To find the value of your home online for free visit us at: http://www.teamleadingedge.ca/

STILL A BUYERS MARKET

2008-04-30T15:28:00.000-07:00

To view and search all MLS listed homes for sale in the Edmonton area visit me at: www.FindMyHouse.ca

"Buyer Retains the Advantage in 1st Quarter......Total MLS® sales in the Edmonton region's existing home market fell by almost 30 per cent year-over-year in the first quarter of 2008, continuing a downtrend which began second half of 2007."

http://www.cmhc-schl.gc.ca/odpub/esub/64171/64171_2008_M04.pdf

(If the link does not open, you can copy and paste the URL into the address box of your browser and press Enter.)

On a more positive note interest rates are great right now, please don't hesitate to call if you have any mortgage financing related questions.

Thank you and have a great day!
Lee Politano, B. Comm
Manager, Residential Mortgages
Ph: 780-264-1749
Fx: 780-637-1637
lee.politano@td.com
www.tdcanadatrust.com/msf/leepolitano

To find the value of your own home online for free visit us at: www.TeamLeadingEdge.ca

OPEN HOUSE - SUNDAY MAY 04, 2008

2008-04-28T14:30:00.000-07:00

To view and search all MLS listed houses, condominiums, and acreages for sale in the Edmonton area visit me at: http://www.findmyhouse.ca/

Open House

Sunday May 04, 2008

1 - 4 pm

382 Jillings Cres.

This very stylish and well maintained 3 +1 bedroom 4 level split boast over 1700 sq.ft. of developed space. Features 3 full bathrooms including a jacuzzi en suite, dine-in kitchen overlooking the family room on the third floor. There is an over sized 24'x24' insulated garage, a large deck and concrete patio. This great family home boasts oak cabinets, trim and interior doors, gas fireplace, vaulted ceilings, large lot with gorgeous landscaping with raised flower beds, mature trees, rock pathway, and a gravel RV pad are with a double gate entrance. The kitchen also features raised oak cabinets, and a island kitchen, and walk-in pantry with a french door, double corner sink with garden window. The garage is a home mechanics dream with 2 - 220V outlets, tons of lighting, and the wiring and gas line is ready for a heater. To home has to been seen to be truly appreciated.

To find the value of your home online for free visit us at: http://www.teamleadingedge.ca/

MORE DOWNWARD PRESSURE ON REAL ESTATE VALUATIONS - Edmonton Real Estate Statistic Ending April 27, 2008

2008-04-27T12:33:00.000-07:00

To view and search all MLS listed homes for sale in the Edmonton area visit me at: www.FindMyHouse.ca

As of today there are a total of 13,879 properties listed on the Edmonton Real Estate Board. This is comprised of 7,029 single family homes, 3,330 condominiums, and 1,409 acreages. The listing inventory level is still going up... not surprising since we are heading into our spring marketplace.

However only 7,114 of those properties listed on the Edmonton Real Estate Board are in Edmonton proper. In the last 30 days we have seen 1,168 sales. That would give us a listings to sales ratio of 6.09:1

With a ratio that high I am expecting to see continued downward pressure on the valuations of homes in the Edmonton area. Until we can see that ratio being closer to 4:1 we will continue to see valuation drop.

Having said that I think that it will not be long before we see this trend change and that ratio to improve. As a matter of fact I think we might see it as soon as within the next 30 days. Let's cross our fingers and have the market stabilize... it is long over due.

To price you own home online and check the value of your home for free visit us at: www.TeamLeadingEdge.ca

SPRING CLEAN YOUR HOME IN 7 EASY STEPS

2008-04-25T08:00:00.000-07:00

To view and search all MLS listed houses, condominiums, and acreages for sale in the Edmonton area visit me at: www.FindMyHouse.ca

Everyone knows spring cleaning sounds like a great idea. You say you’ll do it, then a few more weeks go by, then another month, and before we know it spring cleaning takes a back seat to everything else. By breaking spring cleaning down into manageable tasks that can be accomplished over a couple of weekends, you can get the whole job done without feeling like you’ve missed out on all the fun. It doesn’t have to feel like drudgery either – put on some music or listen to an audio book while you work. Here are 7 ways to make your home feel as fresh and clean as a spring breeze.

1. Tackle those windows. Okay, no one really likes this task, but what a difference it will make! Windows should be thoroughly cleaned inside and out – you’ll be amazed how your home will sparkle inside and out once the dust and dirt are gone. Considering hiring a professional window cleaning company, especially if you have a multilevel home. They’ll have the equipment and experience to do the job safely. If you have screens, now is the time to wash them and repair any holes or tears. If screens are completely removable, take them outside and wash with a scrub brush and mild detergent, then hose off and let dry in the sun.

2. Curtain call. Windows are easiest to clean when the curtains, shades, and blinds are removed. Use this opportunity to get drapes and curtains laundered or dry cleaned (check labels first), and give blinds, shades, and other treatments a good cleaning and dusting. Some vacuum cleaners have special attachments that will make cleaning blinds a breeze.

3. Get all the angles. Going from room to room, use a long-handled duster to make quick work of dusting ceilings, moldings, and corners. If you have ceiling fans, dust the tops and bottoms of the fan blades and around the motor housing (this is also a great time to replace light bulbs in fan fixtures).

4. Make a grand entrance. Clean porches, steps, and railings of accumulated dirt and grime and you’ll have a bright welcome every time you come home. Replace light bulbs in porch and outdoor fixtures. While you’re at it, add a colorful potted plant or two to welcome spring. Keep an eye out for any needed repairs and make a note to get to them in the weeks ahead.

5. Under cover. Gather your heavy winter bedspreads and comforters and have them cleaned, then store away until cooler weather comes. Vacuum mattresses and box springs and clean up those dust bunnies that have hibernated under the bed. Launder mattress covers, take lighter weight bedding from storage and air out for a day before using.

6. A better bath. A deep spring cleaning of fixtures, sinks, tubs, and toilets supplements the everyday surface cleaning that keeps things looking good. Work from top to bottom, ceiling to floor, and keep all of your cleaning products, scrubbing tools, etc. with you in a bucket so you’ll have everything you need at your side. Use an old toothbrush to reach into crevices to get things shipshape, and you won’t have to do it again anytime soon. Don’t forget to clean bathroom exhaust fans to keep them working their best.

7. Kitchen confidential. Wrap up your spring cleaning in the kitchen. After regular use during the colder weather, the stove and oven can likely use a deep cleaning. Clear countertops of clutter and wipe down small appliances and cabinets. Wash the walls and floor, and give the kitchen sink a thorough scrubbing. Now is also the perfect time to rid your refrigerator of old or expired items (check those door shelves lately?) and clean produce bins and shelves following manufacturer’s instructions. Then reward yourself with a vase of spring flowers and enjoy your sparkling home!

Source:
Michel Bourgeois, RHI
Pillar To Post Inspections
780-443-2366
Michel.Bourgeois@pillartopost.com
www.pillartopost.com/edmontonnorth

To find the value of your home online for free visit us at: www.TeamLeadingEdge.ca

ADMINISTRATIVE ASSISTANT

2008-04-25T07:53:00.000-07:00

I need your help!!

I am looking for a new administrative assistant. Do you know of anyone looking for a job?? If so have them call me @ 780-995-6520

JUST LISTED - 3908 McMullen Green

2008-04-24T14:21:00.000-07:00

To view and search all MLS listed homes for sale in the Edmonton area visit me at: http://www.findmyhouse.ca/

List Price: $409,899

Open House: Sunday April 27, 2008

Time: 1 - 4 pm

Excellent 3 bedroom 2 story home with 2.5 baths that shows like a new show home. Situated on one of the largest RSL lots in the area. Located on a quiet street, it has a huge back yard that is fenced, with deck and storage shed. This home features a main floor flex room, island kitchen with eating bar and eating nook, formal dining room, main floor laundry, and a bonus room over the garage, arches and coved feature nooks, 4 pce. en suite, stainless appliance. All measurements are from the builders plans. All measurements and information to be confirmed by the purchasers.

To find the value of your house online for free visit us at: www.TeamLeadingEdge.ca

HOW TO CHOOSE FABULOUS FLOORING

2008-04-24T10:53:00.000-07:00

To view and search all MLS houses, condominiums, and acreages for sale in the Edmonton area visit me at: www.FindMyHouse.ca

Today's market offers lots of choice. Narrow down your selection and find the flooring that's just right for you.

Do you dream of having a Tuscan kitchen, a country den or a luxurious bedroom? Great flooring helps to achieve the look and feel you desire in every room of your home.

"Flooring is a background to your furniture," says Anna Merotto, an interior designer and former instructor of wall and floor coverings at George Brown College in Toronto. "It can make or break your decor."

But selecting flooring can be a daunting task. A room's function, traffic and location, as well as the amount you can spend, are all contributing factors in your flooring decision, be it carpet, ceramic tile, hardwood, laminate or vinyl. Which one is right for you? Here's a look at the most popular flooring options for your home.

Carpet

Carpet keeps feet warm, steps soft and kids' knees protected when they take a tumble. It hides sub-floor irregularities and can be used throughout the home, including the basement, where moisture can ruin other types of flooring materials. It's also inexpensive to install and comes in a variety of colours and textures, making it easy to decorate with.

Carpeting should be short and dense, made with a tightly twisted yarn and a good quality cushion to resist crushing and matting. To reduce the risk of pilling, look for continuous filament nylon (CFN), which begins as a long strand before being spun into yarn.

Keep in mind that dust particles can easily be trapped in carpeting, says Anna. So, if you have allergies, carpeting may not be the best choice for your home.

Ceramic tile

Because of its dense composition of clay, minerals and water - and a coating of liquid glass for colour and texture - glazed tiles are resistant to moisture, odour, fire, stains, scratches, allergens and bacteria, making this material ideal for kitchens, bathrooms and entranceways. Shiny, glazed tiles should be restricted to walls as the surface can be slippery and can scratch easily when used underfoot.

Laying ceramic tile can be a lengthy and costly process. "Floors have to be completely level," says Anna. "If not, you'll have cracking that you can't repair." It can be tricky to restore eroded or discoloured grout between the tiles.

Hardwood

Hardwood is certainly one of the most beautiful flooring choices, and can, at once, give a space a rustic or elegant feel. It can also wear out in high-traffic areas, especially if you have pets. If you truly love hardwood, sanding and refinishing it every few years is one option, says Anna, as is placing an area rug or runner "so you get the best of both worlds - the comfort feeling of carpet and the classic look of wood."

Hardwood flooring comes in classic 3/4-inch solid wood floors, usually made from maple or oak, as well as engineered and longstrip plank floors, both made from a variety of domestic and exotic woods. All three look similar, but because engineered and longstrip planks are made from thin strips of wood glued together, this option provides better stability and resistance to moisture - which means it can be used in basements or over concrete, where solid wood would contract and separate.

Laminate

If you love the look of hardwood, tile or marble, but can't afford or maintain these finishes, you may want to consider laminate. The Swedish import can resemble any of the materials since it is simply a photograph under a clear wearlayer - and therein lies its biggest fault. For Anna, the inexpensive alternative is "almost too perfect."

That said, laminate is almost impossible to stain, scratch or burn, and because it is a collection of interlocking planks or squares glued to one another - and not the floor or subfloor - it is easy to replace and is moisture-resistant

Vinyl

With its easy maintenance, resistance to stains and spills and ability to hide scratches, vinyl has long been the number one choice for kitchens. Perhaps it has also been the ugliest - but newer offerings of this material are more hip, with a dynamic selection of colours, patterns and textures

Source:by Heather Camlot (styleathome.com)
Related Content- Buying guide: 11 flooring options - Project: Asian paper floor mat - More

To price the value of your home online for free visit us at: www.TeamLeadingEdge.ca

INTEREST RATES DROP AGAIN

2008-04-23T10:36:00.000-07:00

To view and search all MLS listed houses, condominiums, and acreages for sale in the Edmonton area visit me at: www.FindMyHouse.ca

Hello, the bank has followed the Bank of Canada rate cut with a cut to the bank prime rate by 50 points to 4.75%. I look forward to hearing from you with any questions or clients who need great service with mortgage financing, thank you.

Bank of Canada Cut Overnight Rate by 50bps, with Further Cuts "Likely to Be Required"
Bank of Canada cut rates by 50bps, bringing overnight rate down to 3.00%

Forward-looking language was a little softer than in March, but still points to further rate cuts, as the Bank said that "some further monetary stimulus will likely be required to achieve the inflation target over the medium term"

Overall tone of the statement was pretty dovish, as the Bank is worried about "a deeper and more protracted slowdown in the U.S. economy" as well as "tightening credit conditions and softening sentiment," which led the Bank to revise downward its 2008 and 2009 GDP forecasts for Canada.

As was widely expected, the Bank of Canada cut the overnight rate by 50bps today, bringing it down to 3.00%. But, the issue was not what the Bank did, but what it said, and on that front the statement was more or less in line with what we had expected. Most importantly, the Bank did signal the probability of further rate cuts, saying that "some further monetary stimulus will likely be required to achieve the inflation target over the medium term." And in true central bank form, the Bank added that "the timing of any further monetary stimulus will depend on the evolution of the global economy and domestic demand, and their impact on inflation in Canada."

Source: Lee Politano, Manager Residential Mortages TD Canada Trust

To visit Lee: http://www.tdcanadatrust.ca/msf/leepolitano/

To price your own home online for free visit us at: www.TeamLeadingEdge.ca

BARBECUE BASICS

2008-04-22T21:25:00.000-07:00

To view and search all MLS listed homes, condominiums, and acreages for sale in the Edmonton area visit me at http://www.findmyhouse.ca/

Knowing more about your specific type of barbecue will help make you an expert
Whether you are cleaning up the backyard or opening the cottage with friends and family, Spring is a great time to begin barbecuing. Before you fire up the grill, consider these tips from The Home Depot Canada to become a barbecue buff:

Planning ahead. If you're in the market for a new and improved way to cook or looking for an upgrade ask yourself: how often will I use the grill; how many people will I cook for on average; what is my available budget? Your answers will help determine the barbecue that best suits your lifestyle and finances.

Barbecue type. Gas, charcoal and portable barbecue models each have different advantages.
Natural gas or propane grills are convenient as they regulate heat easily and cook at several different temperatures at once. Grilling with charcoal enhances flavour and allows high temperatures for searing. If you enjoy camping or tailgate parties, portable grills are an economical way to enjoy grilled food away from home. Depending on which grilling features you most value, there is a barbecue for everyone.

Prepping. After you buy your barbecue you want to be sure to maintain it so it will last several years. Every Spring, practice the following to keep your grill in working order:

? Spring Cleaning. Dirty grill grates cook slower, unevenly and can leave an unpleasant taste. Take the time to clean the grates and enjoy a better meal.

? Scrub the burner. Use a wire brush to scrub the burner clean. Cotton swabs or pipe cleaners can help get in hard to reach places.

? Inspect the gas hose for leaks. Look at the hose carefully for any sign of damage. If no damage is visible, apply soapy water onto the gas hose and turn on the gas. If bubbles appear, there is a leak. Do not ignite the grill if you suspect gas is leaking; simply replace the hose.

? Clean your jets. Check the gas jets and lines for small objects or critters. Clear them out as any clogs can significantly cut down your grill's performance.

? Keep charcoal grilling outdoors. The biggest health concern with charcoal grilling is carbon monoxide (CO) poisoning. As burned charcoal emits CO, it should never be used indoors.

? Accessorize. Barbecuing has become more of an experience than a task - accessories such as chicken roasters, outdoor pizza grills and temperature indicators can expand your outdoor menu and grilling enjoyment.

More information about barbecues is available online at homedepot.ca.

To find the value of your home online for free visit us at: www.TeamLeadingEdge.ca

10% HIGHER SELLING PRICE FOR YOUR HOME

2008-04-21T07:49:00.000-07:00

To view and search all MLS listed houses, condominiums, and acreages in the Edmonton area visit me at http://www.findmyhouse.ca/

I am happy to announce today the launch of my "NEW PREMIUM LISTING PROGRAM". The new listing package program is designed to acheive up to 10% higher selling price... is it right for you???

To find out call me today 780-995-6520

To price your own home online for free visit us at: http://www.teamleadingedge.ca/

Edmonton Real Estate Statistic Ending April 20, 2008

2008-04-20T13:34:00.000-07:00

To view and search all MLS listed homes, condominiums, and acreages in the Edmonton area visit up at: www.FindMyHouse.ca

The Edmonton real estate market is getting a little more exciting these days. By exciting I mean that we are seeing an increase in listing activity and sales activity. However we still have too many homes on the market for prices to increase at this time.

Current on the Edmonton Real Estate board there are a total of 13,922 properties listed. That is an increase over last week. That breaks down into 6,995 single family homes, 3,540 condominiums and 1,359 acreages.

During the last 30 days we have seen a total of 1,096 sales. That give us a listing to sales ratio of 6.38:1 which is very close to what we had last week. However with a ratio that high I expect continued downward pressure on pricing. A ratio of 4:1 is what we need for a balanced or neutral market and a ratio lower than that before we see prices increase again.

I expect to see the inventory level to continue to increase in the upcoming weeks as we head into our spring marketplace. What is needed now is to see the buyers to start coming back, which it should as they get spring fever.

To price your own home online for free visit us at: www.TeamLeadingEdge.ca

OPEN HOUSE - SUNDAY APRIL 20, 2008

2008-04-19T14:11:00.000-07:00

To view and search all MLS listed house, condominiums, and acrages for sales in the Edmonton area visit me at: http://www.findmyhouse.ca/

OPEN HOUSE

SUNDAY APRIL 20, 2008

1 - 4 PM

208 Omand Drive

List Price: $619,899

To view more pictures and information click on the following link: http://www.teamleadingedge.ca/view_listing/Ogilvie_Ridge/mls/E3138101

Whitemud Creek Location!!! Just steps away from the ravine. Custom home was designed by Carriage Homes & is situated on a lovely large lot with mature landscaping & numerous tress, & shrubs. The tiered back yard also features an interlocking brick patio. There is an over sized garage. Open floor plan with vaulted ceilings in the living room complete with newer hardwood floors. contemporary kitchen with brand new stainless appliances, and good size dining room. The family room opens to kitchen featuring large windows, wood burning fireplace, overlooking the beautiful backyard with brand new hardwood floors. The master bdr. is complete with en suite & soaker tub. You will not believe the size of the closet in this room. The basement is fully finished including brand new upgraded imported cork floor from Portugal to keep the floor nice & warm in rec room. New 9 mm laminent flooring in exercise room that could be used as 5th bdr.

To price your own home online for free visit us at: http://www.teamleadingedge.ca/

Housing Markets on Shaky Ground

2008-04-18T08:28:00.000-07:00

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

Economists say Canada has become one of the safer places in the developed world to own residential real estate.

“The dynamics of house prices in Canada are in line with what we would expect based on fundamentals of the economy,” said Roberto Cardarelli, senior economist at the IMF.
Canada and Austria were the only two of 17 countries included in the study in which house prices appeared to be lower than where they should have been at the end of the period from 1997 to 2007, said Mr. Cardarelli.

For each country in the study, house price growth was modeled as a function of the following: an affordability ratio, growth in disposable income per capita, short and long-term interest rates, credit growth, changes in equity prices and changes in the working age population. The study used data from 1997 to 2007.

Canada is in better shape than many other countries and home prices here aren’t expected to drop this year, said Benjamin Tal, senior economist at CIBC World Markets Inc.

Source: Globe and Mail - April 10, 2008

Personal Note:
This article is based on the trend nationally. Here in Edmonton and Alberta in general our market our market isn't following the national trend. Of course we did not follow the national trend in the previous couple of years when our valuation growth was incredible. Right now the have lots of homes coming on the market... more so than we are seeing the number of buyers coming to the market. This is still indicates to me that we are going to see continued downward pressure on valuations.

To price your own home online for free visit us at: www.TeamLeadingedge.ca

CARBON MONOXIDE (CO) DETECTORS!

2008-04-15T15:08:00.000-07:00

To view and search all MLS listed houses, condominium, and acrages in the Edmonton area visit me at http://www.findmyhouse.ca/

What you need to know:

Carbon monixide is a colourless ordorless gas. Low exposure can can health problems and high levels of exposure can be fatal.
Detectors are recommended if your home has gas, oil or wood burning appliances, or if your home has an attached garage.
Unborm and young children are the most susceptible, also seniors and those with a history of heart problems.
Place detectors near sleeping rooms, or in the children's bedrooms.
Check chimneys and vents for blockages and/or holes annually.
Never start a vehicle, gasoline powered tools or BBQ in a closed garage.
Never use your vehicle remote control while it is in a closed garage.
Replace CO detectors every 5 years.
If the alarm sounds, evacuate the house, including pets, and do a head count.
CO detectors will be mandatory in new constructions starting in 2009.

You should install a CO detector in your house today

Source: Dave Watson, Canadian Residential Inspection Services (780) 909-8945

To price your own home online for free visit us at www.TeamLeadingEdge.ca

THIS WEEK'S REAL ESTATE UPDATE - APRIL 13, 2008

2008-04-13T13:33:00.000-07:00

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

As of Sunday April 13, 2008 we have a total of 13,298 active listings on the Edmonton Real Estate Board, which consists of 6,753 residential listings, 3,481 condominiums and 1,316 acreages. That is a significant increase over last week.

In Edmonton proper we have we have 6,802 active listings, and we have had 1,068 sales in the last 30 days. That gives us a listings to sales ratio of 6.37:1, and increase from 6.24:1 that we had last week.

With ratios still in excess of 4:1 I expect to continue to see downward pressure on valuations unfortunately.

To find the value of your home online for free visit us at: www.TeamLeadingEdge.ca

10 tips for new home buyers

2008-04-11T05:32:00.000-07:00

To view and search all MLS listed house, condominium, and acrages for sale in the Edmonton area visit me at: www.findmyhouse.ca

Choosing a home to fit your lifestyle, determining what you can afford, and researching your builder are just three ways to make your home buying purchase less stressful

Buying a home is the single biggest purchase most of us will ever make and, as with most important purchases, it is vital to do your homework to ensure your new home fits your lifestyle and meets your expectations.

An important part of this preparation process is to learn more about all the benefits and resources available through Alberta New Home Warranty program.

1. Choose the type of home that meets your lifestyle
Read the real estate section of your local paper for information about new developments. Also, check out builders' websites for photos and floor plans.

2. Determine what you can afford
Once you've chosen the location and type of home that fits your needs, meet with a financial representative to determine a mortgage amount that you can comfortably afford. This ensures that you spend your time wisely on homes within your price range. You should also consider getting a pre-approved mortgage, which will allow you to shop with added confidence.

3. Research your builder
Ask the builder what associations they are member off. Many of these associations have strict standards of business conduct.

4. Attend educational seminars
These useful seminars are designed to help you learn from industry professionals about the new home buying process.

5. Talk with a real estate lawyer
It's important that you meet with a real estate or condominium lawyer before signing an Agreement of Purchase and Sale to make sure you understand exactly what is and is not included in the price of your new home.

6. Read the Homeowner Information Package
Take the time to review theInformation Package, which your builder will give to you before or during the pre-delivery inspection for your new home.

7. Prepare for your Pre-Delivery Inspection (PDI)
Be prepared for the pre-delivery inspection (PDI). It's your chance to do a thorough inspection of your new home to identify any items that are incomplete, damaged, missing or not operating properly, and have them taken care of before you move in. This is also a prime opportunity to ensure that everything has been built according to your Agreement of Purchase and Sale.

8. Become familiar with the new home warranty and submit forms on time (usually done by builder) Make sure that the builder provides you with copies of your warranty.

9. Maintain your home through the seasons
You've made a big investment in your home, so you should take care of it year-round. It's important to remember that ongoing maintenance helps to ensure that your statutory warranty is protected. So, after you've moved in, follow an annual maintenance routine and help keep your new home in top shape.

10. Enjoy all your new home has to offer
You've done a lot of research, decision-making and waiting by the time your reach this point. Now it's time to enjoy all the wonderful things your new home has to offer.

To price your own home online for free visit us at:www.teamleadingedge.ca

JUST LISTED - 208 OMAND DRIVE

2008-04-09T17:07:00.000-07:00

To view and search all MLS listed houses, condominiums and acrages in the Edmonton area visit me at http://www.findmyhouse.ca/

Location, Location!!

This custom built 2 storey home is just steps away from the Ravine and the clock tower in the prestigeous Ogilvie Ridge area of Riverbend. This custom home was designed by Carriage Homes and is situated on a lovely large lot with mature landscaping and numerous tress & shrubs. The tiered back yard also features an interlocking brick patio. The large garage is oversize. Open floor plan with vaulted ceilings in the living room complete with newer hardwood floors. Comtemporary kitchen, and good size dining room. The family room opens to kitchen featuring large windows and woodburning fireplace overlooking the beautiful backyard. The master bedroom complete with ensuite and soaker tub. You will not believe the size of the closet in this room. The basement is fully finished including brand new upgraded imported cork floor in rec room, and new 9 mm laminent flooring in excercise room that could be used as 5th bedroom. The basement also has a 3 pce. bath. Asking $619,899

To view this home and get more information visit me at: http://www.findmyhouse.ca/view_listing/Ogilvie_Ridge/mls/E3138101

To price your own home online for free visit us at: www.TeamLeadingEdge.ca

PREVENTATIVE FOUNDATION CHECKLIST

2008-04-07T09:51:00.000-07:00

To view and search all MLS listed houses, condominiums, and acrages in the Edmonton area visit me at: www.FindMyHouse.ca

Most homeowners view their foundation or concrete floor slab as a massive and invulnerable object. It is indeed quite strong and one component of a house that usually does not need renovation over the years. However, foundation damage can occur from flooding or detrimental soil conditions; and of course, water intrusion is also a concern.

Some simple tips can help keep your foundation fit and solid for many years to come:

Avoid planting trees and even large shrubs close to your foundation. Over the years, growing roots could push against foundation walls and draw moisture from the soil under foundation footings. Uneven moisture levels can be especially problematic in areas with expansive soils.

Maintain a positive slope away from the foundation for at least five feet. Water seepage or even stains or heavy mineral deposits (efflorescence) on foundation walls can indicate the presence of soil-moisture conditions that can contribute to foundation movement. Check and improve the exterior grading and drainage, if needed, as the first step in keeping moisture away – and minimizing the potential for excessive soil pressures that could adversely affect the foundation.

Check your gutters and downspouts. Make sure they are functioning properly and directing water away from the foundation.

Check your sump pump. If your basement or crawlspace has a sump pit and pump, be certain that there are no obstructions near the pump that could impede its operation. Be sure that the pump’s discharge line directs the water far away from your foundation wall; otherwise, you could end up with “re-circulating” water. If you are in an area vulnerable to power outages and you rely heavily on your sump pump, consider supplementing it with a battery-powered backup model.

Address any changes in your foundation immediately. After initial house settlement occurs soon after construction, there should be no significant changes in the foundation. If you note any new or expanding cracks, or a sudden change in the amount of seepage, the foundation should be looked at immediately.

Paying close attention to current and possible future stresses on the foundation can help prevent costly and timely repairs in the future. A home’s structure is only as strong as its foundation, so keeping it strong – and watertight – should be every homeowner’s priority.

Remember, these tips are only general guidelines. Since each situation is different, contact a professional if you have questions about a specific issue.

To evaluate the value of your home online for free visit us at www.TeamLeadingEdge.ca

THIS WEEK'S REAL ESTATE UPDATE - APRIL 06, 2008

2008-04-06T12:45:00.000-07:00

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

The listing inventory is going up as more and more people place the homes up for sales. Currently in Edmonton proper we have 6,482. The number of sales in the last 30 has also gone up but unfortunately not proportional to the number of listings.

In the last 30 days we have had 1,036 sales. That give us a listings to sales ratio of 6.24:1 again an increase over last week.

With a ratio this high I expect more pressure on valuation.

WINTER-END ROOF CHECK

2008-04-05T17:30:00.000-07:00

To view and search all MLS listed houses and condominiums in the Edmonton area visit me at: http://www.findmyhouse.ca/

The cold and storms of the winter season can wreak havoc on the exterior of a home and the surrounding property. Sometimes it isn’t that there is significant damage, but simply the fact that it may have been several months since you last paid attention or attempted any outdoor maintenance. Now is the time to do a winter-end check to make sure everything is in order and ready to withstand those spring time showers and the pending heat of summer.
While all exterior areas should be checked periodically, one area that typically requires special attention at the end of the winter season is the roof. To identify possible roofing concerns, look for:

Ceiling stains – A possible warning sign that your roof system needs repair or replacement. If localized, it may be an isolated point of damage or flashing leak. Ceiling stains can also be associated with excessive attic moisture and/or ice dam conditions, which may require additional attic ventilation and/or insulation to prevent a recurrence. If there are stains on lower level ceilings, a plumbing leak could be the cause.

Loose or missing shingles – Any loose or missing shingles should be repaired or replaced immediately to avoid additional leakage and damage to the roof deck or interior of your home.
Loose, lifted or cracked flashing – This is the metal or other type membrane found at the base of chimneys and roof penetrations. Damaged flashing should be repaired to prevent leakage.

Lifted or curled shingles – This may be an indication the roof is worn and near or at the end of its service life. If found just in an isolated area, spot replacement may be possible, but if widespread, get a professional opinion on the roof’s condition.

Heavy granules buildup in gutter or at base of downspouts – The granules on roof shingles gradually wear away to the point where the underlying material is exposed over large areas. Once this happens the rate of shingle deterioration accelerates. If excessive, it may indicate aging shingles that need replacement.

If you have questions on your roof system, consider utilizing the services of a professional home inspector or qualified roofing contractor to determine conditions.

Remember, these tips are only general guidelines. Since each situation is different,
contact a professional if you have questions about a specific issue. More home
safety and maintenance information is available online at http://www.housemaster.com/

To price you own home online for free visit us at: www.TeamLeadingEdge.ca

Current Interest Rates - April 04, 2008

2008-04-04T09:47:00.001-07:00

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

To view current mortgage interest rates please click here to view it online.
Do you have a client who needs a mortgage approval? Click Here

Lee PolitanoManager, Residential Mortgages TD Canada Trust
780-264-1749

To price your own home online for free visit us at: www.TeamLeadingEdge.ca

Bank of Canada says more rate cuts likely

2008-04-03T12:43:00.000-07:00

To view and search all MLS listed homes in Edmonton and area visit me at: http://www.findmyhouse.ca/

The continued economic slowdown in the United States will likely mean further interest rate cuts from the Bank of Canada, the central bank's second in command confirmed today. "The most immediate challenge facing the global economy is the marked slowdown in the U.S. economy," Bank of Canada deputy governor Paul Jenkins told a London, Ont. audience this morning.

"This slowdown involves several interconnected elements, and, given our close trade links to the United States, has very direct consequences for Canada." Jenkins noted that some slowing in global economic growth was necessary and "levels of economic activity around the globe were straining capacity limits and beginning to put upward pressure on inflation." He re-emphasized the Bank's focus on keeping inflation low, stable and predictable. He said Canada's strong domestic demand has thus far offset a weak export market. "Monetary policy has been calibrated based on judgments about the relative strengths of these competing forces, with an eye firmly fixed on the policy objective of keeping inflation at our 2% target," he said. At the moment, total CPI inflation in Canada is 1.8% and excluding the one-time effect of the January GST cut, it is 2.4%, while core inflation-which excludes the more volatile factors such as energy and food-is 1.5%. Jenkins said the correction in the U.S. housing markets and the spreading to other part of the U.S. economy coupled with tight credit conditions throughout the world means "the risks surrounding the Canadian economy have shifted to the downside, resulting in [the bank's] decision to lower our policy interest rate by 50 basis points to 3.5%." He then reminded the London Chamber of Commerce audience that "further monetary stimulus will likely be required in the near term to keep aggregate supply and demand in balance and to achieve the 2% inflation target over the medium term." The whole meltdown in the U.S., which is by no means over, can be seen as an "overdue repricing of risk, a recognition of losses, and a recapitalization of balance sheets," Jenkins added. In general, he said the global economy, and by extension Canada's, faces three key challenges:
the slowdown of the U.S. economy and the associated financial turbulence, global trade imbalances and competition from emerging-market countries. As far as solutions go, the deputy governor suggested the private sector needs to increase transparency in financial products, improve risk and liquidity management and develop more rational, better-aligned incentives. To readjust the trade surplus problem, the he said countries with large surpluses need to rely more on domestic demand as a source of growth, and those with deficits (mainly the U.S.) need to increase their national savings rate. And, he added, exchange rate flexibility needs to be beefed up. As competition from developing economies intensifies, Jenkins believes the growth of emerging-market economies represents a tremendous opportunity for Canadian businesses, rather than a threat. "We need to exploit our comparative advantages and see these rapidly expanding markets as places to do business," he said. As for the struggles that Ontario is facing, particularly in its manufacturing sector, Jenkins said it points to "the need for adjustment within the Ontario economy." Overall, he said it's important for Canadians to remember that market-based adjustment mechanisms are vital and price signals will help decision-making. He stressed the importance of policies that encourage initiative and innovation. "The global forces at play are not going to disappear any time soon," he said.

"We therefore need to encourage flexibility and adaptability in the Canadian and Ontario economies. In other words, more needs to be done to enhance the functioning of our internal markets." The Bank of Canada's next interest rate announcement is scheduled for April 22.

Source: Article from the "Investment Executive".

To value the price of your house or condominium online for free visit us at: http://www.teamleadingedge.ca/

New Listing - April 02, 2008

2008-04-02T06:50:00.000-07:00

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

Address: 1240 Joyce Crescent Price: $429,900

Executive Jackson Heights location. This 1798 sq.ft. 4 level split boast vaulted, 4 bedrooms, 3 full baths including a 3 pce. ensuite, large eat-in kitchen, oak cabinets, walk-in pantry, fireplace in the family room, and a deck. Shows like a brand new showhome.

To view more information and pictures click on the following link:

http://www.teamleadingedge.ca/view_listing/Jackson_Heights/mls/E3136863

To price your own home online for free visit us at: www.TeamLeadingEdge.ca

Open House - Sunday April 06, 2008

2008-04-01T13:36:00.000-07:00

To view and search all MLS listed houses and condominiums in the Edmonton area visit me at: http://www.findmyhouse.ca/

603 Leger Way - In Prestigeous Whitemud Oaks area of Riverbend

List Price: $518,800

Sunday April 06, 2008

1 - 4 pm

To view more details on this property click jon the following link http://www.teamleadingedge.ca/view_listing/Leger/mls/E3136278

Beautiful brand new custom built 2250 sq.ft. 2 story home in the prestigious Whitemud Oaks area of Riverbend. Conveniently located within walking distance to Archbishop Joseph MacNeil school and near the future 90 million dollar Rec. Centre. Home features rich hardwood floor, upgrade tiles in the bathrooms, island kitchen with stainless steel appliances and walk-in pantry, jacuzzi ensuite with separate shower, walk-in closet in 2 bedrooms, upgraded doors, trim and fixtures. The laundry is located on the main floor. There is an open loft upstairs over looking the main floor living room with 17 foot ceiling.

To price your own home online for free visit us at: www.TeamLeadingEdge.ca

The March 2008 edition of CMHC's Housing Now

2008-03-31T14:30:00.000-07:00

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

Open House - March 30, 2008

2008-03-30T08:43:00.000-07:00

Thinking of selling your home in the Edmonton area?? Price your own home online for free at: http://www.teamleadingedge.ca/

Open House Sunday March 30, 2008

1 - 4 pm

3908 McMullen Green

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

Good day and welcome to this week's real estate review

2008-03-29T11:32:00.000-07:00

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

Perfect Starter or Investment Property

2008-03-28T10:29:00.000-07:00

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

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

Housing boom losing steam; Conference board predicts sector weakness over next two years

2008-03-27T07:47:00.000-07:00

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

RESOLUTIONS FOR THE HOME

2008-03-25T12:46:00.000-07:00

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.

TOP 3 ROOMS TO INVEST IN

2008-03-24T10:08:00.000-07:00

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.

River Valley View

2008-03-21T09:33:00.000-07:00

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:

http://viewer.inviewtours.com/index.php?id=323B598A-61D3-9555-0C58-41AE5913DD30

or view the complete information at:

http://www.teamleadingedge.ca/view_listing/Haddow/mls/E3131020

Steady Ground in Store; 2008 Real Estate Market to Balance Out

2008-03-21T09:18:00.000-07:00

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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

Housing Prices unwavering so far this year

2008-03-20T22:10:00.000-07:00

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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.

Top 10 Reasons People Should Be Buying

2008-02-13T11:24:00.000-08:00

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

1. Selection, selection, selection. Regardless of price range, there are plenty of houses from which to choose. There's a great selection of attached homes, condos and townhouses. You can find large lots, small lots, and a lot that will accommodate your boat or RV. You have many options. When resale inventories are low, buyers are forced to make compromises. Not today.

2. No bidding wars. In 2007, we knew one family who made offers on 10 homes. They lost the first nine to the feeding frenzy that existed in the market - other buyers bid the properties up substantially from the original listing prices. There were even escalation clauses where buyers authorized their agents to outbid other offers by thousands of dollars. There's no competitive bidding in the buyer's market of today.

3. You can make an offer. In the beginning of 2007 when you made an offer, the only question was how high above the list price you should reach in hopes of being the best offer on the table. Sellers won't be insulted if you "make them an offer they can't refuse."

4. Patience is tolerated. In the hot seller's market, everything was rushed. You had to find a house before other buyers did, then hurry up and make the offer. Today, buyers can take their time. They can look at several homes and think about their decision for a while.

5. Due diligence is welcomed. In this market, a buyer is encouraged to obtain a home inspection, and appraisal. In 2007, many buyers waived these contingencies in order to gain an advantage.

6. Plenty of specs. built homes. Buyers sometimes had to play games if they wanted a newly built home.

7. Repair requests are accepted. After buyers complete a home inspection, they're allowed to submit a repair request to the sellers. But in the past, sellers often insisted the home be sold as-is. Many times, there were back-up buyers waiting for the primary buyers to upset the sellers, whose home was increasing in value almost daily.

8. Few, if any investors.It's estimated that one third of all sales in the beginning of 2007 were to investors. These buyers caused the market to inflate and affordability to decline. Mortgage fraud became commonplace. It's a great time to buy without having to compete with hundreds of prospective landlords.

9. Location, location, location.Today's buyers can find homes closer to work. In this market, reasonably priced homes are within biking or walking distance to schools, rapid transit lines and relatives.

10. Real financing is available. Today mortgages are easier to get then ever with all the different products like zero down, or stated income products for the self-employed. The bottom line: It's a great time to buy real estate!

Resale Housing Sales Strong in January

2008-02-12T10:35:00.000-08:00

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Edmonton, February 5, 2008: Resale housing sales in January were almost record setting. The previous record was set at the height of the real estate frenzy in January 2007. The REALTORS® Association of Edmonton reported that 1,227 residential sales were notched last month as compared to 1,175 units in January 2006 and 1,554 units last year.

“Near record January sales indicate that housing sales will remain strong in the Edmonton area as buyers and sellers adjust to the new pricing levels,” said Marc Perras, president of the REALTORS® Association of Edmonton. “Prices are stable and are not expected to drop sharply despite the large inventory.” There were 7,352 residential properties listed on the MLS® at the end of January. The previous January high was 5,490 available properties in January 1996. There were 7,094 properties in inventory at the end of December 2007 and almost 10,000 properties at the peak last September.

3,417 new residential listings were added in January with 1,227 sales resulting in a 36% sales-to- listing ratio (down from 62% in December). The average days-on-market rose to 61 days from 56 in December. REALTORS® reported that interest from buyers and activity through their offices picked up in January as total MLS® sales for the month reached $460 million.
The average* price for a single family dwelling dropped marginally (0.6%) from December to $379,567. Condo prices rose 1.9% on average* to $257,956 and duplex/rowhouse prices were down 1.7% at $301,756. The overall residential price was up 0.7% to $332,051. The average residential price is up 9.3% from last January.

“Buyers now have a wide choice of properties to choose from and prices are stable,” said Perras. “It’s a good time to get into the market as a first time buyer or someone moving up or down.”
Total MLS® sales (including rural and commercial) were 1,349, also the second best January in local history

Source: The Realtor Association of Edmonton

Edmonton Real Estate Statistic Ending Feb 04, 2008

2008-02-04T15:50:00.000-08:00

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As of today there was still 9,488 residential listings on the Edmonton Real Estate Board. However there were only 4,687 in Edmonton proper. In the last 30 days there were
891 sales. That is a significant increase over the last time checked the number of sales... maybe the buyers are coming back to the market finally.

With 4,687 lisings and 891 sales that gives us a listing to sales ratio of 5.26:1 This is the lowest I have seen it in some time and is getting closer to the ratio we need for a stable market and ease on the downward pressure on pricing.

Edmonton Residential Real Estate Future is Solid

2008-01-31T16:55:00.000-08:00

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The Canadian housing market in 2007 set a number of MLS® sales records, and the re-sale housing market is expected to remain at near record sales levels in 2008, according to The Canadian Real Estate Association.
Annual residential MLS® sales activity totaled 520,747 units in 2007, up 7.6 per cent from 2006 levels. This was the largest annual sales growth since 2002, and the first time transactions via the MLS® systems of real estate boards in Canada have surpassed 500,000 units sold in one year.
“The results in 2007 show the strength and the affordability of the Canadian residential market,” says CREA President Ann Bosley. “The statistics again show just how different the housing markets are in Canada and the United States. Canadian REALTORS® know that Canadian mortgage lenders correctly see that home prices will continue rising. We know there is still strong competition for mortgage business in Canada.”
The REALTORS® Association of Edmonton president Marc Perras echoes the national association’s confidence. “Residential sales through the MLS® have set records at over 20,000 units per year in the past two years. Local REALTORS® expect that sales will remain strong even as prices increase slowly through the year.”
Three key economic ingredients will keep Canada’s housing market on a different track from the United States. One is consumer confidence, the second is employment, and third is affordable interest rates. The Bank of Canada cut interest rates on January 22nd because of weaker prospects for Canadian economic growth in 2008. “Those lower interest rates will also help temper the erosion in housing affordability due to additional home price increases,” Bosley added. The Bank of Canada is expected to cut its trend-setting rate again in March.
Despite the weaker prospects for Canadian economic growth in 2008, the Conference Board of Canada anticipates that Edmonton’s growth rate will be higher than the national average at four percent. Low unemployment and the availability of local jobs will promote in-migration and create a housing demand that will offset the rising prices.
CREA’s Chief Economist Gregory Klump says that the Canadian housing market in 2008 will pull back from the breakneck pace set in 2007, but this is still forecast to be the second-busiest year on record in almost all provinces, with residential unit sales reaching an estimated 512,705 units.
According to CREA’s Chief Economist, a larger supply of listings will be one of the balancing influences in 2008. New listings are forecast to rise in all provinces except Alberta, where they’re expected to retreat after spiking in late 2007.
There were over 7,000 homes (including condominiums and townhouses) available on the Edmonton-based MLS® on December 31, 2007.
“The challenge for the Canadian housing market will be the extent to which employment and consumer confidence may be affected by a slowdown in the U.S. economy,” Ann Bosley adds. “Slower job growth, not massive layoffs, is forecast for Canada in 2008,”
CREA’s Chief Economist Gregory Klump adds. “Consumer confidence may be sideswiped by stock market volatility, and reports that chances of a U.S. economic recession will put the brakes on the Canadian economy. With slower job growth, a low unemployment rate and the absence of widespread layoffs, consumer confidence will bounce back. The domestic economy and the housing market will weather the sub-prime fallout with the help of lower interest rates.”

Source: Realtors Association of Edmonton

Edmonton Real Estate Statistic Ending Jan. 18, 2008

2008-01-21T18:50:00.000-08:00

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Currently in the Edmonton area there are 9,328 residential homes listed for sale. However there are only 4,586 listed in Edmonton proper. In the last 30 days we have seen 664 sales. That gives us a listings to sales ratio of 6.90 to 1. That ratio is still high and I would expect continued downward pressure on prices.

I am however seeing increased activity which is positive and hopefully we can get back to a 4 to 1 ratio where we have a balanced and neutral market.

Edmonton Economic Outlook - Part One

2008-01-16T08:25:00.000-08:00

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The economic outlook for Alberta looks very bright, and it looks like we will be isolated from any recession that might be experienced by the rest of North America. This will be driven by the strong oil and gas industry here in Alberta.

If Alberta was an independent country on a per capital basis the Edmonton - Calgary corridor would today be the world’s #1 economy.

Over $200 billion has already been committed to be spent in our service area by the following companies:

• Canadian Natural Resources
• Suncor Energy
• Shell Canada/Chevron
• Syncrude Canada
• ConocoPhillips Canada
• Alberta Infrastructure & Transportation
• OPTI Canada/Nexen Inc.
• SynEnCo Energy
• Petro-Canada Oil & Gas
• North West Upgrading

It is expected that Ft. McMurray will require an additional 400,000 workers in the next 10 years. Many of those workers will be living here in Edmonton and contributing to our local economy directly.

Lets not forget that 2 new oil and gas refineries, and one new upgrader are going to start construction in the next 5 years here between Edmonton and Red Water. That alone could be responsible for a significant boom here in Edmonton.

Edmonton Real Estate Statistics ending Jan 10, 2008

2008-01-12T12:41:00.000-08:00

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As of this morning on the Edmonton Real Estate Board we had a total of 8,789 residential properties listed, of which 4,410 were residential single family, 2,171 were condominiums, and 752 were acrages.

However, there were only 2,581 single family dwellings in Edmonton proper and in the last 30 days we have had 370 sales. That give us a listing to sales ratio of 6.98 to 1.

With a ratio that high I expect continued downward pressure on prices.

Radiant floor heating

2008-01-09T08:38:00.000-08:00

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Stone or ceramic floors look great, but they sure can be cold on the feet! The solution? Radiant floor heating.

Very popular in Europe, floor heating arrived in Canada some years back. Like the sun, it works by radiating heat. Unlike convection heating (electric baseboards, for example), radiant floor heating warms objects in the room (walls, floor, bath-tub) rather than the air. Once they are warmed, the objects themselves raise the room temperature. Radiant heating operates at a temperature that is never higher than that of the human body. It releases heat slowly, so it should not be turned off every time you go out for a few hours and can be left on throughout the winter.
Even heat is obtained by setting a thermostat connected to a sensor that measures the temperature between your floor covering and the subfloor (usually plywood or cement), where a very thin, winding heating cable is located. This cable heats the floor covering. The length of the cable varies depending on the heat-conducting properties of the floor, the heat loss in the room and the amount of space available for installing the cable. (It cannot be run underneath the bathtub or the cabinets.) Generally, a heating cable generates eight to 12 watts per square foot.This system can be used in conjunction with a baseboard heater, but it cannot be installed under wood flooring, as the wood might dry out and crack. To avoid unpleasant surprises, get an electrician to do the work.

The cost? It depends on the size of the room, but the greater the surface to be heated, the lower the cost per square foot. For example, the system could cost anywhere from $500 to $600 for a 50-square-foot bathroom. A solarium of 100 square-feet will cost between $600 and $900. However, your electricity bill should not increase. Love to have a radiant-heating system throughout the house? During your home's construction, you can have ceiling-mounted radiant panels installed (a cable is already integrated.) Or, you can opt for a "hydronic" or hot-water system, in which a plumber installs pipes under the floor.

To heat a house of 2,500 square-feet with a radiant-panel system, bank on spending between $8,000 and $9,300. A hot-water system will cost around $10,000 - $15,000 if you opt for a high-efficiency boiler. Uncoupling membraneMake sure an uncoupling membrane is laid between the heating cables and the floor covering, a step that many contractors disregard. "It provides more even heat, but more importantly, if there's a problem, the ceramic floor covering can be pulled up without damaging the heating cables," explains Leslie Szekely, a technical advisor with Ciot. The expense will be well worth it down the line!Hot-water heatIn homes with a hydronic heating system, the floor is warmed by small pipes instead of electric cables.

Source: Maryse Guénette of Option Consommateurs News (styleathome.com)

Edmonton Real Estate statistics ending Jan 04, 2008

2008-01-07T15:50:00.000-08:00

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

Checking the my website this afternoon there were 8,521 homes listed on the Edmonton Real Estate Boards MLS system.

However there was only 4,207 listing in Edmonton proper on Friday with 608 sales in the last 30 days. That gives us a listing to sales ratio of 6.92/1. With that high of a ratio I would expect that there will be continued downward pressure on housing prices in the short term.

Edmonton MLS® Price Comparison 2006 - 2007

2008-01-03T08:43:00.000-08:00

MLS® Price Comparison 2006 - 2007

Type /December 2006 /December 2007 /Peak Price /Peak Date
SFD /$341,933 /$382,022 /$426,028 /May
Condo /$227,428 /$253,270 /$271,908 /July
Duplex/Rowhouse /$295,178 / $306,967 /$367,964 / Oct
All Residential /$294,155 /$329,705 /$354,718 /July

2007 Housing Year a Roller-Coaster

2008-01-03T08:36:00.000-08:00

Edmonton, January 3, 2007: In the beginning of 2007 housing prices continued to climb just like the year before but by mid-year the market had turned and prices cooled as the housing inventory quadrupled. Year end figures released by the REALTORS® Association of Edmonton reveal the largest swings ever experienced in the local market. Despite the roller-coaster-like rises and falls, the market still ended up 12% ahead of last year’s prices.

“REALTORS® were assisting sellers to handle multiple offers and unbelievable short sales periods for the first half of the year,” said Carolyn Pratt, President of the REALTORS® Association. “The summer it was a buyers market with ten homes available for every buyer.” The sudden changes in market conditions made both buyers and sellers anxious and increased their dependence on solid market advice from their REALTOR®. “Now the market seems to have stabilized and returned to what we call normal,” said Pratt.

PRICES

Single family dwellings listed on the Multiple Listing Service® which sold on January 1 for $341,933 on average* were priced at $382,022 at the end of December. Although 11.7% higher than a year ago the December prices were off 11.5% from the peak prices in May. December prices were 1.5% higher than November 2007.

Condominiums on MLS® sold on average for $253,270 in December after starting the year at $227,428. They peaked in July at $271,908. Condo prices were also up 11.4% over the year and up 0.4% from last month. Duplex/rowhouse prices jumped 4.0% from $295,178 last December to $306,967 in December 2007. Duplex/rowhouse prices peaked in October at $367.964. Despite price decreases in the last few months, year-over-year prices were up. The average residential sales price (which includes all types of residential property) was up 1.5% from last month at $329,705 and up 12.1% when compared to last December prices.

SALES

“The rapidly increases in housing costs forced more first-time buyers to consider the lower priced condominiums,” said Pratt. “As a result there has been a continuous increase in condominium sales in the past five years.” Total condo sales of 7,157 units in 2007 were up 6% from 2006 when 6,761 units were sold.

At the same time Single Family Dwelling sales on 2007 dropped back to 11,765 units sold. Sales of SFDS were higher in each of the past three years. SFDs now represent 69% of total residential sales as compared to 27% (up from 23% last year) for condos.

Total sales (including residential, commercial and rural sales) through the MLS® in 2008 were 23,333 units with a value of over $8.2 billion (up from $6.6 billion in 2006).

In December the residential sales to listing ratio was 62% with 1,388 listings and 857 sales. For the year there were 41,030 residential listings with 20,544 sales for a S/L ratio of just 50%. The average days-on-market at the end of December was 56 days with 7,094 residential units in inventory in the wider Edmonton market.

Despite the wildly dynamic nature of the market in the past 24 months, the number of REALTORS® (i.e. members of the Association) increased through the year from 3,104 to 3,241 which indicates some optimism in the market potential.

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

Housing Starts Decline in November

2008-01-02T13:38:00.000-08:00

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According to Canada Mortgage and Housing Corporation...

Total housing starts across the Capital
region declined in November
compared with an exceptional
performance reported in the same
month last year. Housing starts within
the Edmonton Census Metropolitan
Area (CMA) totalled 1,091 units in
November, representing a 42 per
cent decline from November 2006.

To view complete report click onto the following link: http://www.cmhc-schl.gc.ca/odpub/esub/64171/64171_2007_M12.pdf

Stats ending Dec. 29, 2007

2007-12-29T00:55:00.001-08:00

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!!

2007-12-28T19:45:00.000-08:00

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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

2007-12-21T14:52:00.000-08:00

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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

2007-12-19T20:51:00.001-08:00

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

2007-12-19T20:51:00.000-08:00

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

2007-12-18T16:34:00.000-08:00

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.

2007-12-18T11:38:00.000-08:00

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

2007-12-14T21:28:00.000-08:00

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

2007-12-12T22:58:00.000-08:00

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

2007-12-12T09:15:00.000-08:00

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

2007-12-12T09:06:00.000-08:00

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

2007-12-11T10:50:00.000-08:00

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

2007-12-11T08:42:00.000-08:00

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

2007-12-10T19:46:00.000-08:00

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?

2007-12-07T07:53:00.000-08:00

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

2007-12-06T08:35:00.000-08:00

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

2007-12-05T11:28:00.000-08:00

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

2007-12-04T10:57:00.001-08:00

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

2007-12-04T10:54:00.000-08:00

“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

2007-12-04T10:47:00.000-08:00

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

2007-12-03T07:37:00.001-08:00

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

2007-12-03T07:24:00.000-08:00

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

2007-12-02T13:41:00.001-08:00

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

2007-12-02T13:08:00.000-08:00

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

2007-12-01T14:19:00.000-08:00

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

2007-12-01T14:13:00.001-08:00

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

Current Interest Rates

2007-11-30T08:26:00.000-08:00

Currently the best interest rate available is 5.75% on a 5 year variable closed mortgage. For a complete list of all the rates and terms available just click on the following link.

https://vaslogin.com/partner/edesigns/preview2.asp?idp=66403&id=39800&act=show&pers=12142382&type=1&idto=1,71379

To view all MLS listed homes go to: www.TeamLeadingEdge.ca

new listing

2007-11-29T14:37:00.000-08:00

3 bedroom 1 1/2 bath unit in Millwoods with an attached garage, fireplace and balconies. A must see for @239,899

To View This New Listing Go To: www.TeamLeadingEdge.ca

My First Entry

2007-11-29T11:29:00.000-08:00

This is my first attempt to post a blog. My name is Serge Bourgoin and I am the managing partner of Team Leading Edge working for Re/Max Real Estate in Edmonton Alberta Canada. I specialize in residential real estate. I like to specialize in selling homes that other realtors were incapable of selling.

You can view our website at http://www.teamleadingedge.ca/

Come here daily for news, updates, statistics, current interest rates, view new listings, or read revelvent articles, or just get my 2 cents on the current market.

You can also search all MLS listed homes on our website http://www.teamleadingedge.ca/