Russian Edmonton Real Estate

Home 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.

Residential 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.

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

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.

Edmonton, June 4, 2013: Housing sales activity in the Edmonton Census Metropolitan Area (CMA) slowed in May. Housing sales dropped 10% when compared to May 2012. Sales of single family detached homes (SFD) were down 14.4% Y/Y and duplex/rowhouse sales were down 20.3%. In contrast, during the same period, condo sales were up 4.9% compared to May 2012.
There is a lot of activity in the real estate market at this time of year but some buyers are having difficulty finding their perfect home. While inventory levels are rising they are still below traditional norms and there is a shortage of attractive SFD inventory available at the lower priced end of the market. That has held some buyers back. First time buyers may have had to buy in the condo market where they can still find a home in their price range.
There were an estimated 1,169 SFD sales in May (based on 1,082 reported sales) through the MLS® System with 512 estimated sales of condos (474 reported) for total residential sales of 1,824 units (on reported sales of 1,689). Sales figures in the month are estimated to account for late reported sales and to ensure accurate comparison to prior period sales figures.
Listing activity picked up in May with 1,969 SFDs listed (up 1.3% Y/Y) and 963 condos (up 0.3% Y/Y) for an overall total of 3,188 residential properties coming into the MLS® System in May. At the end of May there were 6,028 residential properties available; up from 5,294 from last month. There were an additional 1,569 rural properties in the MLS® System inventory.
The demand for housing has buoyed up prices in the Edmonton area. The all-residential average price was up 2.4% from April and up 1.3% from a year ago at $356,807. The average price of SFDs was up 3.9% to $418,110 in May but condo prices dropped 2.4% from a month ago to $237,664. The condo average price is down 3.97% in May compared to last year.
Increased activity at the higher end of the market drove up the average price of SFDs. At the same time, the wide variety and number of options in the condominium sector continued to exert downward pressure on the average price of condominiums. There is housing available for everyone at every price point but buyers may have to adjust their expectations to be able to buy right now. T
The average days-on-market for residential property was down to 45 days and the sales-to-listing ratio was 53% in May.
-30-
MLS® System Activity (for all-residential sales in Edmonton CMA1)
May 2013 M/M % Change Y/Y % Change
SFD2 average3 selling price – month $418,110 3.94% 5.35%
SFD median4 selling price – month $387,750 2.31% 3.40%
Condominium average selling price $237,664 -2.40% -3.97%
Condominium median selling price $228,000 0.00% -0.87%
All-residential5 average selling price $356,807 2.37% 1.32%
All-residential median selling price $339,500 1.34% 2.11%
# residential listings this month 3,188 15.13% 1.59%
# residential sales this month 1,689 10.90% -9.97%
# residential inventory at month end 6,028 13.86% -6.67%
# Total6 MLS® System sales this month 2,365 17.43% -8.83%
$ Value Total residential sales this month $719 million 16.88% -7.62%
$ Value of total MLS® System sales – month $837 million 17.91% -8.95%
$ Value of total MLS® System sales – YTD $3.2 billion 14.13% -10.67%
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

The real issue is how much money you have and how much you’re prepared to spend in order to secure the house of your future.
If you are prepared to own two homes for an extended period of time, you could buy the new Canadian house and simply wait until you sell your primary residence.

But if you’re just waiting to find the right house so that you can retire, owning two homes could be a substantial setback to your plan. And if you can’t really afford to own the two houses at once, you might be better off making sure you have a buyer for your current home before trying to buy a home.

The problem is that you still might own these two homes for some time to come. To understand how much of a liability you face, you’ll have to do an indepth study of homes that have recently sold and those that are on the market.
You can do this by looking up the prices of homes that have closed. But if you are unsure of where the real estate market is in your area, just ask me to get my thoughts on the market and how to position your home for sale.

Since you may not have your home ready to sell for almost a year, the market today could be very different from the market next summer. If the real estate market in your area is better now, you might want to consider selling soon. If the real estate market in your area is poor now, it may or may not get better next summer.

Your decision to buy hinges on whether you can see into the future to determine where the real estate market might be. I do know that owning two homes and having the expenses for those two homes is a big burden to bear particularly when you are trying to retire and scale down your home and your way of life.

With the a later than expected arrival of spring, average prices for housing in the Edmonton Census Metropolitan Area (CMA) decreased month-over-month in April after a surprising uptick in March. The REALTORS® Association of Edmonton reports that the all-residential price (including single family detached, condominiums, duplexes and row-houses) decreased 1.8% over March to $348,535. Compared to April 2012, the all-residential price was up 2.0%.

“The second quarter is the most active time of year for real estate sales,” said President Darrell Cook. “Both buyers and sellers want to complete the transaction before school starts in September and get settled into the new neighbourhood.” About 33% of annual sales happen in April, May, and June, while 25% occur in Q3 and 19% in the last three months of the year. In April, there were an estimated 1,645 (1,523 actual) total residential property sales through the Edmonton Multiple Listing Service® as compared to 1,656 (actual) in April 2012.

Estimated SFD sales of 1,037 units (960 actual) were down 4.4% from last year but condominium sales increased 4.1% year-over-year to 459 estimated sales (425 actual). There were 118 estimated sales of duplex/rowhouse properties (109 actual) in April (up 15.4% y/y). Sales numbers are estimated to account for late reported sales and provide meaningful comparison to previous year actual sales.

Market activity picked up in April according to both market activity indicators. The sales-to-listing ratio was up at 55% in April while days-on-market was down from 50 in March to 49 in April. Inventory continues to be relatively low with 5,294 residential properties of all types available on the MLS® System at the end of April. There were 2,769 residential properties listed for sale in April (up just 0.5% from April, 2012). “As many as 100 additional homes are listed everyday so motivated buyers need to maintain contact with their REALTOR® to ensure that they are notified the moment that a suitable property becomes available,” said Cook.

In April, the average price for a single family detached home was $402,270 (down 3.5% from March). The average priced condo sold for $243,503 (down 1.3% m/m) and duplex and rowhouses prices were up 2.8% to $324,975 on average. It is important to note that the average price encompasses all properties and can be driven upward by a higher than average number of expensive sales in any given month. Contact your REALTOR® to get an accurate evaluation of your home.

-30-

MLS® System Activity (for all-residential sales in Edmonton CMA1)

April 2013 M/M % Change Y/Y % Change
SFD2 average3 selling price – month $402,270 -3.47% 2.88%
SFD median4 selling price – month $379,000 -0.26% 2.99%
Condominium average selling price $243,503 -1.25% 3.45%
Condominium median selling price $228,000 -0.65% 1.38%
All-residential5 average selling price $348,535 -1.75% 2.03%
All-residential median selling price $335,000 1.61% 2.29%
# residential listings this month 2,769 14.33% 0.47%
# residential sales this month 1,523 9.88% -8.03%
# residential inventory at month end 5,294 11.66% -12.35%
# Total6 MLS® System sales this month 2,014 10.54% -9.16%
$ Value Total residential sales this month $616 million 8.08% -6.20%
$ Value of total MLS® System sales – month $710 million 10.37% -7.06%
$ Value of total MLS® System sales – YTD $2.3 billion 10.24% -7.35%
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

The REALTORS® Association of Edmonton reports that residential property prices in the Edmonton CMA1 were up again in March. The all-residential price (includes single family detached, condominiums, duplexes and row-houses) rose 3.5% in a month and single family detached prices were up 3.9%. Compared to March 2012, the all residential price was up 4.3% and the SFD price was up 7.0%.

Because of a shortage of lower priced homes, the average price is pushed up as buyers move up-market to find a home. The increase in average price may not increase the market value of a particular property. The relative number of homes sold in the $450-650k price range increased from 12.2% to 14.5% year-over-year while homes under $300,000 dropped from 40.7% of the market to 38.2%.

The average price for a single family detached home was $416,739 in March, condos were priced at $246,574 (up 6.3% m/m), duplex and rowhouses at $316,110 (down 4.9% m/m) and the all-residential average price was $354,759. SFD prices peaked in May of 2007 at $424,400.

The demand for homes in the Edmonton area continues to be driven by net job creation and low unemployment, economic stability and low rental vacancy rates. Sales were brisk with the sales-to-listing ratio up at 57% for March which indicates that almost six of the ten homes listed during the month were sold. Days-on-market was down from 57 in February to 50 in March.

The number of homes available for sale in the MLS® System inventory was up from 4,183 to 4,741 in March. While this is an increase of 558 properties from last month, it is down 15.4% from the same time last year. The lower inventory is exerting upward pressure on prices but has a dampening effect on sales. “When first time buyers cannot find a house that meets their needs or are forced into a multiple offer situation, they often remain on the sidelines. Low interest rates and rising rental rates create the interest and desire but lack of suitable properties means they are not able to make the transition to home ownership at this time.

REALTORS® are facing some multiple offer situations on lower-priced property but overall, the market remains in balance with neither buyers nor sellers having an advantage in most neighbourhoods.

Residential sales in the Edmonton CMA were up 1.14% in March as compared to March 2012. There were 1,497 estimated sales (1,386 reported) on listings of 2,422 during the month. SFD sales were down 6.63% from last year but condo sales more than compensated at 8.84% y/y increase. Note that sales numbers are estimated to reflect late reported sales and make a more accurate comparison with prior month actual sales.

MLS® System Activity (for all-residential sales in Edmonton CMA1)

Canada is one of the best countries in the world for home ownership. We are now clearly the fastest growing nation in the G8 regarding immigration as recently reported in the Globe and Mail. Canada is setting its sights on an annual immigration of 400,000 people by 2016 up from the current 320,000.
The demand for home ownership across all provinces will be significant for decades. As Canadians we can feel confident that our home will continue to be a place where we raise our families, have our dreams come true and remain a cornerstone of our life long financial wellbeing, despite what the media would like us to believe.
The U.S. economy is showing signs of consistent growth with housing starts and new jobs leading the charge. This of course bodes well for us and is particularly welcome news for our manufacturing and resource sectors.
So the economy on both sides of the border looks promising, immigration will continue to add to the growth of Canada and interest rates are historically low. Regardless of what some might want us to think Canada is Still the Best Place to Own a Home!
If you know anyone who is looking to buy a home, it’s important that they get pre-approved today! The spring market is fast approaching and there is evidence everywhere of a pent up demand. Having that pre-approved mortgage in hand can give someone the advantage over other buyers.
Call or email me today!

http://www.edmontonjournal.com/business/Calgary+real+estate+investment+market+Canada/7535200/story.html

Edmonton, October 2, 2012: The REALTORS® Association of Edmonton reports that residential listings and sales have trended lower in the third quarter after an active start to the year. In September, there were 1,269 residential sales in the greater Edmonton market as compared to 1,442 in September 2011. Despite the recent cooling trend, residential sales year-to-date are still up 7.2% as compared to last year at this time. There have been 14,565 residential sales to the end of the third quarter as compared to just 13,729 last year.

“There were changes to the mortgage qualification rules in March,” said REALTORS® Association of Edmonton President Doug Singleton. “We did not see an effect on the local market at that time but it seems to have had a cooling effect in the past quarter.”

The average1 price for a single family dwelling (SFD) has remained higher than last year for each of the past nine months. In September, the SFD average price of $376,678 was up just 0.23% from the previous year and is up 2.78% from the January 1 price. The all-residential average price is down 2.6% from last year at $323,369. This is the first month this year that the all-res price has dipped below the 2011 figure for the same month.

Condominium and duplex/rowhouse prices are more volatile and vary widely from month to month. In September average condo prices were down 3.1% ($229,246) while duplex/townhouse prices on average were up 2.75% ($307,739). Still, after nine months both current prices are up from the January 1, 2012 prices for the category.

Total MLS® System listings this year are up 104 units as compared to last year at 33,295 properties but Total MLS® System year-to-date sales are 16,487 units as compared to 15,378 at the end of the third quarter in 2011. There are 6,956 residential properties in the inventory compared to the 8,062 last year at this time. Rural and commercial property sales are both up marginally compared to last year although listings have dropped. The residential sales-to-listing ratio was down from 56.7% to 52.3% and residential days-on-market was up to 59 in September from 54 in August.

“Sales always fall month-to-month at the end of the year; that’s just normal market fluctuation,” said Singleton. “But overall, the market has been stable with little market advantage for either buyers or sellers. Edmonton is still one of the best places in North America to own property and I urge consumers to talk to their local REALTOR® when they are in a position to buy or sell property.”