Posts Tagged ‘condo’
STAGING YOUR HOUSE TO SELL
Saturday, August 15th, 2015Home staging plays a very important part in successfully selling your house. The impression that the buyer makes of your home is what will determine him to make you an offer for it or keep looking. Here is what a properly staged house should convey to the buyer:
Cleanliness
Your house needs to look spotless. Because we might at times miss something important, it’s recommended to hire a professional cleaning firm at least once before starting to show your house to prospective buyers. While you are at it, it’s a good idea to depersonalize the space – remove family photos and personal items off the shelves, to allow the buyers to feel more comfortable inside your house and not like they are intruding in someone else’s home.
Space
The first thing you need to do in order to create space is to de-clutter. It’s a good idea to just take a look around and remove anything non-essential. Don’t forget kitchen appliances – it’s best to just remove or hide them, same with knives and anything else you might have lying around. Instead, add a vase of flowers or a bowl of fruits.
Your rooms need to look warm and inviting. Furniture can play a significant part here. It’s a good idea to arrange it in such a manner as to maximize the impression of space and at the same time group pieces together to maximize the potential for conversation.
Brightness
Buyers love a house which has enough light. Make sure your windows let as much light through as possible, and change your lamps with stronger ones. You should aim for something in the range of 100w for 50-60 square feet.
Color
It’s a good idea to use neutral colors for areas like the living room and kitchen, because beside being the safer option (different people have different tastes), it also makes a room look more spacious and brighter. For bedrooms however, don’t be afraid to use other colors. Avoid strong, vivid colors like pink – instead go for dark, relaxing colors, which will make the room look more intimate and cozier.
You can further add color to your house by using décor, such as flowers or artwork. Experiment with the way you arrange them, to obtain the best possible effect and draw attention to specific areas of the room.
Every buyer looks for the perfect house. And while it’s true that different people can have very different ideas of what the perfect house should look like, by applying the tips above you will greatly increase the chance that they visualize your house as their future home.
Edmonton Market , May 4, 2015
Tuesday, May 5th, 2015Residential sales in Edmonton’s Census Metropolitan Area (CMA) are beginning to pick up with 1,597 in April 2015. That is up 10% from 1,453 in March but still down 13% from April 2014. Reported reported sales are up for duplex/rowhouse – which are up this month over 24%. Single family sales were 1,001 – down 13% over last April (1,147 reported). Condos took the biggest hit down 20% over last year with 432 sold.
Despite a decline in all residential sales, the average sale price was $337,270 up 3% from April last year. Single family dwellings sold for an average of $438,641 (up 2% from last April), condos for $252,935 (up 0.2% y/y) and duplex/rowhouses were $356,022 (up 7.23% y/y).
The end of month residential active inventory was 6,784 for the Edmonton CMA. April residential new listings were up 11% from last year at 3,298. Average days on market were 44 compared to just 42 in April 2014.
| April 2015 | M/M % Change | Y/Y % Change | |
| SFD2 average3 selling price – month | $438,641 | -0.05% | 2.39% |
| SFD median4 selling price – month | $410,000 | -0.61% | 2.24% |
| Condominium average selling price | $252,935 | 1.24% | 0.21% |
| Condominium median selling price | $235,000 | 1.29% | 0.00% |
| All-residential5 average selling price | $377,270 | 1.14% | 3.13% |
| All-residential median selling price | $359,000 | -0.28% | 2.57% |
| # residential listings this month | 3,298 | 4.63% | 10.78% |
| # residential sales this month | 1,597 | 9.91% | -13.02% |
| # residential inventory at month end | 6,784 | 14.13% | 38.17% |
| # Total6 MLS® System sales this month | 2,082 | 12.18% | -21.14% |
| $ Value Total residential sales this month | $673 million | 12.90% | -18.83% |
| $ Value of total MLS® System sales – month | $792 million | 13.34% | -19.22% |
| $ Value of total MLS® System sales – YTD | $2.4 billion | 53.48% | -14.55% |
1 Census Metropolitan Area (Edmonton and surrounding municipalities)
2 Single Family Dwelling
3 The total value of sales in a category divided by the number of properties sold
4 The middle figure in a list of all sales prices
5 Residential includes SFD, condos and duplex/row houses.
6 Includes residential, rural and commercial sales
new listing- condo #230, 920-156 st – terwillegar
Wednesday, April 8th, 2015
2 bedrooms 2full baths over 1000 sq ft unit on the second level. immaculate condition.
only 229,900
stop paying somebodies mortgage! pay yourself!
MLS® System Sales Up Over 11% in 2014
Tuesday, January 6th, 2015January 5, 2015: Sales of residential property through the Edmonton Multiple Listing Service® (MLS®) System in 2014 in the Edmonton CMA were over 11 percent higher than in 2013, exceeding growth expectations by a large margin. This increase was reflected across all property types including a 9.8% increase in sales of single family detached properties, an over 11% increase in condo sales and a 25.4% increase in duplex and rowhouse sales. There were 18,991 residential sales reported in 2014 as compared to 17,077 in 2013.
Prices were also up compared to 2013, with single family homes finishing the year 5.6% higher over last year at an average of $432,713. For 2014, the average price of a condo was $252,175 (up 4.5% from 2013) and the average price of all residential properties was $367,228 (up 5.2% from 2013).
2014 was a very busy year for your local REALTOR®. Edmonton and the surrounding areas experienced a great increase in volume of sales, but also a healthy increase in price. We did not see the sudden spikes in prices that we saw in 2007, but we did surpass the single family record price in March of 2014. An increase in newly built affordable condos and multifamily units coupled with historically low mortgage rates encouraged new buyers into the market. We also saw great migration into the province and a very tight rental market. These factors all play into a very active market in 2014.
The all-year sales-to-listing ratio was 70% (up 2% from 2013) with average days-on-market at 47 days (down from 53 last year). The active market was highlighted by a year-end inventory of just 3,059 properties, a similar number to the end of last year (3,049).
As is seasonally normal, prices and sales dropped in December from November, but are up year over year from December 2013 in all categories. The price of a single family detached property dropped 3.3% from $444,312 in November to $429,470 in December. Condo prices dropped 3.4% in December to $247,099 while duplex/row house prices increased slightly from November to $355,978. December all-residential unadjusted sales were exactly the same as 2013 at 770 and down almost 38% from last month.
If you have questions please talk to your local REALTOR® Irina Mierzewski about your options in this market and what is right for you!
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| December 2014 | M/M % Change | Y/Y % Change | |
| SFD2 average3 selling price – month | $429,470 | -3.30% | 1.80% |
| SFD median4 selling price – month | $399,900 | -2.40% | 4.30% |
| Condominium average selling price | $247,099 | -3.40% | 5.50% |
| Condominium median selling price | $220,000 | -5.60% | 0.50% |
| All-residential5 average selling price | $359,479 | -5.80% | 3.20% |
| All-residential median selling price | $343,500 | -3.90% | 5.70% |
| # residential listings this month | 932 | -34.20% | 19.80% |
| # residential sales this month (reported) | 770 | -37.90% | 0% |
| # residential inventory at month end | 3,059 | -21.70% | 0.30% |
| # Total6 MLS® System sales this month | 1001 | -32.70% | 0.90% |
| $ Value Total residential sales this month | $315 million | -34.20% | -1.72% |
| $ Value of total MLS® System sales – month | $367 million | -35.20% | 1.00% |
| $ Value of total MLS® System sales – YTD | $9.4 billion | 4.60% | 15.10% |
Мой город- ВЛАДИКАВКАЗ! My city – Vladikavkaz!
Monday, September 22nd, 2014
The city was founded in 1784[7] as a fortress during the Russian conquest of the Caucasus and was for many years the main Russian military base in the region.
The Georgian Military Highway, crossing the mountains, was constructed in 1799 to link the city with Georgia to the south, and in 1875 a railway was built to connect it to Rostov-on-Don andBaku in Azerbaijan. Vladikavkaz has become an important industrial center for the region, with smelting, refining, chem
icals and manufacturing industries.
From 1931 to 1944 and from 1954 to 1990, its name in both Russian and Ossetic languages was Ordzhonikidze (Орджоники́дзе) (afterSergo Ordzhonikidze, a Georgian Bolshevik), and from 1944 to 1954 it was officially called Dzaudzhikau (Дзауджика́у) in Russian andDzæwdžyqæw (Дзæуджыхъæу) in Ossetic. Vladikavkaz resumed its old Russian name, in 1990, shortly before the dissolution of the Soviet Union; the official Ossetic name was reverted to Dzæwdžyqæw.
Vladikavkaz was fought over in both the Russian Civil War and World War II. In February 1919, the anti-Communist Volunteer Army under General Anton Denikin seized the city, before being expelled by the Red Army in March 1920. In November 1942, the forces of Nazi Germany tried unsuccessfully to seize the city but were repelled.
In 1999, 2008, and 2010, Vladikavkaz was a target of bombings.
Ethnic groups in the city (2002 data):[citation needed]
| Climate data for Vladikavkaz | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year |
| Record high °C (°F) | 19.6 (67.3) |
23.0 (73.4) |
30.3 (86.5) |
34.0 (93.2) |
35.0 (95) |
38.0 (100.4) |
37.5 (99.5) |
39.2 (102.6) |
38.2 (100.8) |
33.5 (92.3) |
27.0 (80.6) |
27.1 (80.8) |
39.2 (102.6) |
| Average high °C (°F) | 3.0 (37.4) |
3.2 (37.8) |
7.7 (45.9) |
14.8 (58.6) |
19.4 (66.9) |
23.2 (73.8) |
25.7 (78.3) |
25.4 (77.7) |
20.8 (69.4) |
15.1 (59.2) |
8.4 (47.1) |
4.3 (39.7) |
14.3 (57.7) |
| Daily mean °C (°F) | −1.9 (28.6) |
−1.7 (28.9) |
3.0 (37.4) |
9.5 (49.1) |
14.1 (57.4) |
18.0 (64.4) |
20.6 (69.1) |
20.1 (68.2) |
15.6 (60.1) |
9.8 (49.6) |
3.6 (38.5) |
−0.7 (30.7) |
9.2 (48.6) |
| Average low °C (°F) | −5.6 (21.9) |
−5.7 (21.7) |
−0.9 (30.4) |
5.1 (41.2) |
9.6 (49.3) |
13.5 (56.3) |
16.1 (61) |
15.7 (60.3) |
11.2 (52.2) |
5.7 (42.3) |
0.1 (32.2) |
−4.2 (24.4) |
5.1 (41.2) |
| Record low °C (°F) | −27.2 (−17) |
−27.8 (−18) |
−22.0 (−7.6) |
−8.9 (16) |
−2.8 (27) |
2.2 (36) |
7.5 (45.5) |
6.0 (42.8) |
0.0 (32) |
−10.0 (14) |
−22.2 (−8) |
−25.0 (−13) |
−27.8 (−18) |
| Precipitation mm (inches) | 31 (1.22) |
34 (1.34) |
54 (2.13) |
85 (3.35) |
140 (5.51) |
175 (6.89) |
109 (4.29) |
89 (3.5) |
75 (2.95) |
60 (2.36) |
46 (1.81) |
31 (1.22) |
929 (36.57) |
| Avg. precipitation days | 6 | 6 | 8 | 10 | 14 | 14 | |||||||
CMHC to Increase Mortgage Insurance Premiums
Wednesday, March 5th, 2014
OTTAWA, February 28, 2014 — Following the annual review of its insurance products and capital requirements, CMHC will increase its mortgage loan insurance premiums for homeowner and 1 – 4 unit rental properties effective May 1, 2014.
The increase applies to mortgage loan insurance premiums for owner occupied, self-employed and 1-to-4 unit rental properties, including low-ratio refinance premiums. This does not apply to mortgages currently insured by CMHC.
For the average Canadian homebuyer requiring CMHC insured financing, the higher premium will result in an increase of approximately $5 to their monthly mortgage payment. This is not expected to have a material impact on the housing market.
Effective May 1st, CMHC Purchase (owner occupied 1 – 4 unit) mortgage insurance premiums will increase by approximately 15%, on average, for all loan-to-value ranges.
| Loan-to-Value Ratio | Standard Premium (Current) | Standard Premium (Effective May 1st, 2014) |
|---|---|---|
| Up to and including 65% | 0.50% | 0.60% |
| Up to and including 75% | 0.65% | 0.75% |
| Up to and including 80% | 1.00% | 1.25% |
| Up to and including 85% | 1.75% | 1.80% |
| Up to and including 90% | 2.00% | 2.40% |
| Up to and including 95% | 2.75% | 3.15% |
| 90.01% to 95% – Non-Traditional Down Payment | 2.90% | 3.35% |
CMHC reviews its premiums on an annual basis and, going forward, plans to announce decisions on premiums in the first quarter of each year.
| Loan Amount | $150,000 | $250,000 | $350,000 | $450,000 |
| Current Premium | $4,125 | $6,875 | $9,625 | $12,375 |
| New Premium | $4,725 | $7,875 | $11,025 | $14,175 |
| Additional Premium | $600 | $1,000 | $1,400 | $1,800 |
| Increase to Monthly Mortgage Payment | $3.00 | $4.98 | $6.99 | $8.98 |
Based on a 5 year term @ 3.49% and a 25 year amortization
| Loan Amount | $150,000 | $250,000 | $350,000 | $450,000 |
| Current Premium | $2,625 | $4,375 | $6,125 | $7,875 |
| New Premium | $2,700 | $4,500 | $6,300 | $8,100 |
| Additional Premium | $75 | $125 | $175 | $225 |
| Increase to Monthly Mortgage Payment | $0.37 | $0.62 | $0.87 | $1.12 |
Based on a 5 year term @ 3.49% and a 25 year amortization
Local housing sales and inventory up in stable market – Feb 2014
Wednesday, February 5th, 2014
The residential home inventory on the Edmonton Multiple Listing Service® (MLS® System) rose 16% in January. Typically just over 1,800 homes in the Edmonton come onto the market in January. Last month’s listings of 1,842 were higher than the 783 listed in December. Sales figures were higher than a typical January and higher than sales in December and January 2013. The increased inventory kept prices stable in all housing categories.
Compared to December, the all-residential average3 price of $347,847 was down just $1,226 or
-0.16%. Single family detached (SFD) home prices were down 1.5% at $416,344. Condominiums were priced on average3 at $230,463 (down 1.5%) and duplex/rowhouses showed the biggest movement and were down 5.3% at $336,220.
Price stability and more property available for sale results in a balanced market.Right now both buyers and sellers have time to consider all their options and housing needs. More homes are listed every day and Irina Mierzewski your russian speaking REALTOR® can advise you of a suitable property as soon as it comes available.
The residential sales-to-listing ratio was 45% and the average days-on-market was 61 days in January compared to 73 days in January 2013. There have been four property sales over a $1 million already this year but half of the SFDs sold in January were sold at or below $385,000.
Strong economic indicators such as low unemployment, higher hourly wages and positive in-migration all support an optimistic view of the Edmonton and area housing market. Consumers are confident in their economic future and prepared to risk a first-time or move-up purchase. Low rental vacancies and the potential for higher rental rates are also attracting investors into the market.
Irina Mierzewski – your russian/ukranian speaking REALTOR in Edmonton will be happy to answer all your questions and give her professional advise whether you sell or buy property in the near future.
| January 2014 | M/M % Change | Y/Y % Change | |
| SFD2 average3 selling price – month | $416,344 | -1.50% | 4.60% |
| SFD median4 selling price – month | $385,000 | 0.20% | 2.70% |
| Condominium average selling price | $230,463 | -1.50% | 6.70% |
| Condominium median selling price | $216,500 | -1.10% | 3.80% |
| All-residential5 average selling price | $347,847 | -0.20% | 6.70% |
| All-residential median selling price | $329,500 | 0.45% | 4.60% |
| # residential listings this month | 1,842 | 135.20% | 4.20% |
| # residential sales this month (reported) | 820 | 10.00% | -1.00% |
| # residential inventory at month end | 3,537 | 16.00% | -5.50% |
| # Total6 MLS® System sales this month | 1,095 | 14.70% | -11.90% |
| $ Total value MLS® System residential sales – month | $328 million | 12.90% | -6.50% |
| $ Total value MLS® System sales – month | $392 million | 11.20% | -3.80% |
| $ Total value MLS® System sales – YTD | $392 million | 11.20% | -3.80% |
REALTORS® forecast local housing growth in steady market Jan 2014
Wednesday, January 8th, 2014Forecast for 2014: value of MLS® sales in 2014 will increase by about 3% for the year after sales of $8 billion in 2013. This is based on an overall increase in the number of homes sold and increased prices.
The sale of single family homes in Edmonton will be static, at about 10,500. The number of sales of condo, duplex and rowhouse sales will increase by 2.5% throughout the region as these properties become the de facto entry point for first time buyers.
Prices, as usual, will fluctuate through the year but the 12-month average price for a single family detached property is anticipated to increase about 3%. Condominium property average prices are projected to increase about 2% over the year.
Market growth is always good for the seller who can expect to see a capital gain on their property. But it is also reassuring for the buyer who can expect steady growth upon entering the market.
| YTD Average | Change | At year end | |
| SFD Prices (CMA) | $409,824 | Up 3% | $422,000 |
| Condo prices (CMA) | $241,377 | Up 2% | $246,000 |
| All Residential Prices | $349,202 | Up 2.5% | $357,932 |
| Rural/Recreational | $548 million | Sustaining | $550 million |
| Commercial sales | $225 million | Stronger | $250 million |
| Total MLS® Sales | 22,932 | Up 2% | 23,390 |
| Value of Total MLS® Sales | $8 billion | Increase | $8.6 billion |
September Housing prices up 5.4% from last year!
Saturday, October 5th, 2013The all-residential average price for the first three quarters of the year in the Edmonton CMA is $350,741 as compared to $340,090 in 2012. In September, the all-residential average was $352,057, up 5.4% from a year ago and inching up from $351,455 in the previous month.
Year-over-year sales were also up 19.4% with 1,466 (adjusted, 1,357 actual) all-residential sales in September. There were 13,691 residential sales in the Edmonton CMA in the first three quarters of 2013 as compared to just 12,876 sales at the same time last year.
The market is very active with many properties attracting multiple offers.The increases in the Alberta population are driving the market and because of the steady sales there are inventory shortages at the lower price ranges.
There were 926 (adjusted, actual 857) single-family detached sales in September at an average price of $408,642 (up 3.9% Y/Y) as compared to 773 sales a year ago at an average price of $393,374. Condos sold on average in September for $243,655 (438 adjusted sales, 406 actual), up from $224,330 last September (up 8.6%). Duplex/row house sales were up with 79 (adjusted ,73 actual) sales, valued on average at $338,250 ($316,973 last year).
Average sales prices are the highest they have been in five years,Combined with the highest sales numbers since 2012, we have year-to-date residential sales values totaling $4.8 million. Strong market fundamentals, increasing population and the persistence of low mortgage rates have convinced many buyers that an investment in real estate is secure.
The September sales-to-listing ratio of 65% was the result of 2,089 residential listings and 1,357 residential sales. The inventory of available homes on the Edmonton MLS® System was down from 5,557 units in August to 5,111 units in September. It took 54 days on average (up one) to sell a home in the Edmonton area. Irina Mierzewski has access to all the latest market data and effective marketing tools and is the best source of real estate advice for both buyers and sellers.
MLS® System Activity (for all-residential sales in Edmonton CMA1)
| September 2013 | M/M % Change | Y/Y % Change | |
| SFD2 average3 selling price – month | $408,642 | -1.90% | 3.90% |
| SFD median4 selling price – month | $380,000 | 0.00% | 3.50% |
| Condominium average selling price | $243,655 | -0.40% | 8.60% |
| Condominium median selling price | $226,000 | -1.70% | 3.80% |
| All-residential5 average selling price | $352,057 | 0.20% | 5.40% |
| All-residential median selling price | $336,000 | 1.80% | 5.30% |
| # residential listings this month | 2,089 | -9.10% | 1.70% |
| # residential sales this month (actual) | 1,357 | -8.90% | 10.50% |
| # residential inventory at month end | 5,111 | -8.00% | -9.80% |
| # Total6 MLS® System sales this month | 1,882 | -5.60% | 9.42% |
| $ Value Total residential sales this month | $562 million | -6.50% | 14.83% |
| $ Value of total MLS® System sales – month | $657 million | -7.80% | 14.30% |
| $ Value of total MLS® System sales – YTD | $6.463 billion | 11.90% | 7.71% |
1 Census Metropolitan Area (Edmonton and municipalities in the four surrounding counties)
2 Single Family Dwelling
3 Average: The total value of sales in a category divided by the number of properties sold
4 Median: The middle figure in an ordered list of all sales prices
5 Residential includes SFD, condos and duplex/row houses
6 Includes residential, rural and commercial sales
3 Average prices indicate market trends only. They do not reflect actual changes for a particular property, which may vary from house to house and area to area. Prior period sales figures have been adjusted to include late reported sales and cancellations and therefore reflect a more accurate view of the period than previously reported at month end. The RAE trading area includes communities beyond the CMA (Census Metropolitan Area) and therefore average and median prices may include sold properties outside the CMA. For information on a specific area, contact Irina Mierzewski – your local REALTOR®
