Dear Friends,

What can we say this month except “we’re in this together” and, because of world circumstances, we’re exercising extreme caution.

This month, we’ve curated some advice for you if you’re committed to selling that house or buying that new condo during these difficult times. We’re here for you. Despite the unprecedented situation, we’ve put together an article about some great reasons to buy a condo. They range from accessible price points for first-time buyers to the spectrum of amenities that still beckons, promising better times ahead.

The Canadian government has announced that due to the pandemic, the stress test revisions scheduled for April 6 are now suspended until further notice. The changes were to make it easier to secure approvals on mortgages.

In other news, our regular Neighbourhood Profile is back, and in this issue it’s Edmonton’s Downtown Core, loaded with condos offering views of the North Saskatchewan River Valley.

Please review our tips on the current rules and good sense advice around showings, whether you’re selling (and need to go out for a drive) or buying (and need to arrive in your own vehicle).

Wherever you’re at with all of this, and whatever you’re planning to do next, please know that although we’re trying to be as lighthearted as possible about the world right now, these are difficult times.

Let’s continue to care and support one another as best we can.

27045 TWP RD 500 NW, Rural Leduc County  $535,000

Country living near the city. Two minutes to Calmar, ten minutes to Devon and eighteen minutes to south Edmonton, you can live in tranquility and be close to all the comforts of a city. This stunning piece of property has prime soil with the crop land separated from the residence and outbuildings by a ravine that would allow for a stunning view from a walk out should you wish to build one. Restore the two 20' x 100' foot long (approx) south facing greenhouses to their former glory to grow your own produce - gas and furnaces are still in place to beat the freeze. The 40' x 40' Quonset is ready to be re-skinned and serve your needs for farm equipment or a large shop. This property has oodles of potential. All it needs is you!

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Upscale by downsizing

Selling a single family home and moving to a condo can give you a whole new lease on life! When the hectic years of raising a family flow into the tranquility of retired or semi-retired empty-nesting-for-two, your equity can go a long way. And this switch to condo ownership can work for all generations, not just retirees. Downsizing to a cozy and secure condo can free up money while simultaneously upgrading your lifestyle.

Minimal maintenance – No shovel required

In condo land, there’s no grass to cut and no exterior maintenance. As a condo owner, you can watch the work happen while you continue with what you do for a living. Also, the work you actually do yourself (cleaning and minor repairs) isn’t going to take as long as it might in a mansion.

Awesome amenities – Gyms, pools, patios, parties

The condo lifestyle can be as active as you want it to be, with plenty of options via amenities. Work out in gyms. Attend yoga sessions. Swim. Relax on the patios. When the timing is right again, organize parties! Great amenities have become important selling features of urban complexes everywhere.

Community – Exciting shared experiences

Living in a condo development during non-crisis times, you’ll often meet an interesting, varied assortment of neighbours. Most of the time, sharing “community space” in condo developments tends to be a great experience for all. At the moment, please exercise caution.

Affordability – Entry level price points

While condos in high density urban zones like New York City and London can be pricey, most condos aren’t. In Western Canada, many outstanding condos can be found, around town, at reasonable entry-level price points for first-timers.

Keep watching the news for updates on Canada’s mortgage regulations.

On February 18, Bill Morneau, Canada’s Minister of Finance, unveiled changes to the “stress test” that were scheduled to come into effect on April 6. “The new benchmark rate will be the weekly median 5-year fixed insured mortgage rate from mortgage insurance applications, plus 2%,” he announced at the time. These changes are now on hold, pending further review as a result of the current COVID-19 situation.

Industry experts had recently suggested the “stress test rate” be adjusted to make it easier for people qualifying for mortgages. The Canadian government heard them and had initially acted on their recommendations. The basic idea behind the stress test? Even if interest rates rise or you run into financial difficulties, you’re approved for an amount you’d still have a good shot at paying back.

For information on federal and provincial financial support right now if you need it, please visit Canada.ca (Government of Canada) and alberta.ca (Government of Alberta) websites where you’ll find information regarding COVID-19 on each home page.

Downtown Edmonton is loved by residents and visitors alike for its forests, pathways and parks along the banks of the North Saskatchewan River.

Most downtown Edmonton condo properties come in under $1 Million, with some entry level units in older buildings in the low six figures. Living here, you’ll find quick access to exciting night spots, world class cuisine, coffee shops and bars galore, arts, fashion, culture and more.

There are five districts in the zone: Commercial Core, Government Centre, Warehouse District, McKay Avenue and Rice Howard Way.

There’s also an exciting new arrival on the skyline: The Pearl. It’s topped by a condo with this description: “On the market at $2,295,000, this 3,476-square-foot Edmonton penthouse is situated at the top of a 36-storey masterpiece offering breathtaking panoramic views of the city."

 

Dear Friends,

Welcome to Spring, a peak season for home sales!

New Year’s resolutions set in January have now mostly been abandoned – but the real time of renewal is here and it’s almost always good news in terms of real estate activity.

As the days grow longer and the sun gets warmer, many of us take on the big indoor/outdoor cleanup. We do it for ourselves... and -- if we’re looking to sell and move -- we do it for all those new home buyers cruising the neighbourhoods in search of showings and open houses, eager to put in a fast offer.  

This month’s feature article identifies this wave of highly motivated buyers as one of the Top 5 reasons homes sell best in the Spring. Check out the other four reasons. We’re sure you’ll be excited by what you read.

Whether you’re looking for help during the next two or three months buying, selling or both, please don’t hesitate to reach out.

I’m excited to work with you.

 

Active Listing  10042 92 ST NW NW, Riverdale $529,900 Build your dream home or make a great investment on an RF2 zoned property. This **SUPER-SIZED**flat, 50' x 182' lot gives you plenty of options. It's perfectly located half a block away from the community league and park on a beautifully tree lined street. This is a rare opportunity in this one of a kind neighborhood to turn an oasis of into your vision!  Read more

Coming soon.... Nestled in a quiet cul de sac and walking distance to some of the best schools in Edmonton, this Aspen Gardens gem is ready for a new family! This pie shaped lot would offer a great new build or put your fresh touch on this 1291 sq ft 3 bedroom bungalow. This will be on MLS soon but I am happy to take inquiries now as it won't last long!

This beautiful home was sold in one day at 98% list price! With a market heating up and some great marketing and sales strategies this could be your home! If you are considering buying or selling in the near future I can help!

1. A wave of new buyers.

Spring brings an enormous wave of new buyers into the marketplace, looking for homes. These are both first-timers – many of them Millennials – and people re-sizing (either up or down as their families grow or the nest empties). They come out of hibernation on a Spring mission to upgrade their lifestyles, putting in long hours in the sunshine, looking for their next perfect home. If you’ve had your property on the market for a while, this makes it a whole new game and your best chance to close a sale. If you’ve been thinking of listing, price it right and do it now.

2. Homes show better.

With the extended daylight hours and warmer temperatures, snowbanks melt and the landscape gets greener. Because of this, homes simply “show better” in the Spring. To stage for the season, try adding flowerboxes and plants around your front entrance (see our next article for a grower’s head-start). Without question, planters can make your home more appealing to prospects. Give your property a thorough Spring cleaning. Minimize clutter and let some of the outdoors into your home, if possible. Everything should look bright and fresh, including your chances for a sale.

3. Prices spike and often peak.

This could be because people get money back from Revenue Canada in April/May. It might be because they’re more inclined to spend large sums of money during the invigorating Spring season of renewal. Or, most likely, it’s because of the wave. With more people out looking for a home in the Spring, there’s more competition for homes and a much greater sense of urgency. Heightened demand can lead to bidding wars that drive up prices.

4. Days on Market gets shorter.

As days get longer, time to sell gets shorter! Historically, homes sell faster during the Spring months than most other times of year. With more people out looking (and for more hours every day), they’re often seeing each other at showings. To avoid being out-bid on “perfect homes,” buyers tend to make their offers – and close on their purchases – faster in the Spring. Quick sales and higher sale prices tend to happen together at this time of year.

5. Moving is more fun.

If you have children in school, finding a new home in the Spring means you’ll probably be moving into it after the school year ends. A move during the more leisurely days of summer is simply more relaxing. It can even be fun. Fall and winter moves, by contrast, can coincide with horrendous weather, making it a miserable proposition. And even though we have Spring blizzards in Western Canada, the snow usually melts quickly and moves are more manageable.

Is great access to the Edmonton International Airport important to you? Do you want to live near the edge of the city in an attractive, single-family home neighbourhood (about 10 percent is duplexes)?

If so, take a look at Rutherford in south Edmonton. This community, named after Alberta's first premier, Alexander Cameron Rutherford, used to be farmland. It will soon be surrounded on all sides by quality residential development, with easy access to Anthony Henday Drive (Edmonton’s Ring Road) and Highway 2 (Queen Elizabeth II Highway, running south to Calgary).

Rutherford hasn’t lost its connection to the natural habitat, preserving it with a series of tranquil parks -- including the Virginia Park Woodland -- that dot the neighborhood.

Rutherford is bounded on the west by 127 Street, on the east by James Mowatt Trail (111 Street), on the north by Ellerslie Road and on the south by Blackmud Creek Ravine, with a line connecting the ravine to 127 Street near 25 Avenue SW.

Whether you enjoy cannabis or not, its legalization in Canada has brought some great, new products to the marketplace. You can now buy hydrogardens, for example. They let you grow plants indoors, in a water solution with air bubbles and nutrients but no soil! The roots dangle in the water.

Available for retail purchase through many home improvement retailers, these small, hard-working systems can help you produce healthy, organic lettuce and other veggies and herbs year-round in your kitchen!

Or, if you’d prefer, you can watch beautiful flowers bloom inside your rooms while the Spring snow continues to fly outside the window.

Solutions include WIFI and Alexa connectivity as well as apps that run on your smart phone. Once you’ve selected a system, all you need is water, light, seeds and nutrients. Your plants will grow faster inside your home than in than traditional gardens (and without the bugs and dirt)!

Dear Friends,

The first month of the new decade has already come and gone!

In this issue, we take you through a five year look-back at the Edmonton real estate market and ask for your 2020 forecasts on four key indicators: Home Prices, Sales, Time to Sell and Market Distribution.

If you’re buying or selling this year, remember that the right price, good advertising and beautiful staging can all help to ensure you sell fast for a good price… regardless of what the stats might be saying!

I hope to have the opportunity to work with you as 2020 continues.

 

Coming soon from the beautiful community of Ottewell. Custom built for its current family in 1962, this wonderfully appointed home was a neighborhood original. This four bed, two bath home offers vaulted ceilings that let the sun shine in, a wood burning fireplace to enjoy on cool winter evenings, a bright and well thought out basement with large windows and an oversized double garage with 220 power and gas to be the ultimate man cave. The large entry to the home has a feature wall of walnut and a mail drop cabinet to finish it off. Other finishes include Hunter Douglas blinds, oak trim and central air conditioning.

The owners have put great care and love into the landscape that has made them a Communities in Bloom participant year over year and they enjoy cards and small gestures of thanks from neighbors for making their street so beautiful. You can enjoy a wonderful summer evening with a custom brick bbq and a covered patio, enjoy park like surroundings and listen to the trickle of the pond.

Coming on to market February 14th! Stay tuned or contact me for more details. 

The results are in. The 2019 home price for Edmonton, based on sales, was $360,262. That was down 3.09 percent from $371,748 in 2018. Looking back, the price rose for three straight years from $367,055 in 2014 to $376,771 in 2017 before a weakened economy drove markets down slightly in 2018 and 2019. It’s difficult right now to predict what’s going to happen next. Some experts believe we’re at the bottom of the market (a great time to buy)! What do you think Edmonton’s home price will be in 2020?

With 16,557 Edmonton homes sold last year, 2019 was the worst-performing year in the last six. When sales volume is low and supply grows due to new listings, we typically call it a buyer’s market. If you’re selling, you might need to wait for a while before you find a buyer and then you might get a lower offer than what you’re hoping to see. Despite fewer sales in 2019, supply was also lower, tempering this dynamic. The sold-to-listings ratio actually rose by several percentage points.

For five years in a row in Edmonton, the Time to Sell has risen. In 2019, it took an average 64 days (more than two months) to sell a property. In 2014, when sales volume was higher and there were fewer listed properties to choose from, that number was 48 days. If you’re buying in Edmonton, the last few years of lower sales and higher supply have meant there’s been plenty to look at. If job growth and other factors improve, we could see that situation change, with lower supply and faster sales. What do you think is going to happen in 2020?

Look at the infographic and you’ll see that the vast majority of Edmonton’s home sales activity for 2019 occurred at prices below $800,000. The highest volume (3,596 sold) was in the $300,000 to $399,999 price range. Five properties were purchased for $2-$3 Million. Only two sold for more than $3 Million last year.

Thanks! We’ve been getting good feedback on our new Neighbourhood Profile feature in this monthly newsletter. We didn’t run it this month because we wanted to share 2019 data, look back over the last few years and get you thinking about 2020. The Neighbourhood Profile is back next month, though, so we ask: “Which Edmonton neighbourhood would you like us to profile next?”

 

 

Dear Friends,

Happy New Year!

Welcome to a new decade.

If this is the year you think seriously about finding your dream home, you’ll love this issue. We point out that dream homes come in all shapes, sizes, price points and neighbourhoods. It’s about connecting to the lifestyle you want, then making your home a perfect fit for the way you want to live. If you’re selling, we can stage your property as a dream home for its next inhabitants. It might not take much!

Check out the latest trends in interior design. We cover them here for you.

We’ve also added a new feature to the newsletter: A Neighbourhood Profile. If you like it, we’ll continue it in upcoming issues, giving you the lowdown on all the top locations.

Please reach out to me this month with any questions about buying or selling. It’s a brand new year.

All the best!

 

Coming soon... 10042 92 ST NW NW, Riverdale $529,900 If you are looking for homes and parcels in Riverdale or Aspen Gardens please contact me for details of listings I have coming on the market soon.  Read more

It’s an interesting topic. Everyone has their idea of what “dream home” means. They’re at every price point.

If you’re looking for yours in 2020, read on for tips. If you’re listing, make it someone else’s dream home by staging it that way!

Buying?

Dream homes are not one size or style fits all.

Can you picture your dream home? Try. It’s much easier to find when you know what it looks like!

If you need help getting started, think about the lifestyle you’re after and then imagine your new home at the epicentre of it.

You might want a family home that better suits your active lifestyle, for example. Maybe you’re renting and your dream is to own. Or it could be you’re ready to lock-and-leave as you travel to exotic destinations.

Once you’ve given some thought to your lifestyle and the home that’ll best suit it, think about your budget. The good news is there are dream homes at every price point. It’s all about the fit.

Consider the most appropriate square footage, floorplan and number of rooms. Give some thought to the type of neighbourhood you want to live in.

Selling?

If you’re listing because you want to move – position your property as someone else’s dream home!

Who is the buyer that’ll see it that way? If you understand your home’s key strengths -- based on what people want -- you can enhance them for the sale. This doesn’t mean extensive renovations. You might not get your money back. It means great staging, though.

Stage it yourself or let us help you attract the right buyer. Consider updating colour schemes, furniture and layouts. Give our Interior Design Trends article in this newsletter a quick read.

Whatever you do around presentation, make sure it’s priced right when it hits the market and you’ll have a better chance at selling it quickly.

Make it happen this year!

Talk to me in January about finding your dream home in 2020… or selling your property to fulfill someone else’s dream. I’ll buy the coffee.

If you want to live in an Edmonton neighbourhood with the best of all worlds, you should take a look at Strathcona.

Here, it’s an easy drive downtown or to the University of Alberta and a nice walk to the North Saskatchewan River Valley or the Mill Creek Ravine.

The real estate is a mix of older, character homes in great condition (some 100 years old) and modern apartments and condominiums, high- and low-rise.

At the centre of it all is hip, artsy Old Strathcona with its historic town feel and bustling, main artery, Whyte Avenue. Whyte’s famous for its art galleries, pubs and night clubs, trendy boutiques, theatre venues, international restaurants and coffee shops.

It’s a world class festival hub in the summer, with all kinds of live music and entertainment. As of 2019, Strathcona’s roads and sidewalks are getting re-surfaced and decorative, new streetlamps are being installed. The improvements are scheduled for completion in 2021.

We’ve been hearing a lot about “the next decade of interior design.” That’s too far ahead for us. Everything changes too fast.

Here’s what we expect to see in 2020 that we like:

• The home gets back to being a comfortable retreat where you can just chill inside calm, relaxing spaces with less clutter and more ambiance.
• Expansive whites and earthy greens and browns re-connect us with a soothing, natural aesthetic.
• Lighting becomes better and brighter, spotlighting and showcasing feature walls with materials like wood, rock and cork.
• Enviro-conscious living takes over with tech-smart, energy-saving abodes where recycling rules.
• Open floorplans are improved with chic, industrial partitions that create functional flow.
• The kitchen remains the hub for both families and entertainers.
• The cactus makes a comeback.
• Velvet is dusted off, too, re-introducing plush, luxurious affordability.
• Ceilings break free, embracing new, integrated design concepts.

 

 

The beautiful Aspen Gardens gem is getting ready to welcome new owners. November has been busy and my inventory has been bought up but I have more coming in Aspen Gardens and Riverdale.

Are you a seller contemplating the best time to sell?

Housing supply typically shrinks this time of year making the choices for buyers a little bit more limited in turn creating a more competitive market which is a strong positive for a seller in what has been a buyers market.  Buyers who are shopping during these winter months also tend to be serious buyers in the market place and will be apt to make a buying decision a little more quickly. 

If you've been debating whether or not to sell your home and the right timing for YOU give me a call as I would be happy to discuss the market conditions in your area and talk about the best strategy for you.

Dear Friends,

Halloween has come and gone, with all the outfits for little ghosts and clowns tucked away again for another year. Next up is Christmas, a magical time in Edmonton when the river valley is frosted with fresh snow and nights twinkle with starlight. In the meantime, it’s November, a time for dreams.

On November 11, we take time to remember our dreams and those who died fighting to protect them. It’s a day when we think about those who have fought, and continue to fight, for our country. In Edmonton, there are quite a few events to choose from. I encourage you to attend, if you want to remember what it takes to win, how tough the battles and the losses can be… and what we’re prepared to do to protect our country, our values and our freedom.

Everyone has dreams, although the day-to-day world can get in the way, sometimes! Yes, the journey is what’s important but it’s good to remind ourselves of exotic and exciting destinations that beckon. With that theme in mind – the prize within the dream -- we’re happy to introduce a new feature, the Luxury Property Report.

We take you inside some of the most extravagant properties on the planet for a look at their features as we enter a new decade of real estate, the (Roaring?) 2020s. The Luxury Property Report begins with a global perspective and then zeroes in on the Edmonton marketplace to identify premium realty, high-end neighbourhoods and pricing considerations if you’re chasing the dream.

As usual, in this newsletter, we’ve got the stats and the inspiration to help in your search for the perfect home, whatever your current price range.

And as always, if you, your friends or family are looking to buy or sell real estate, please keep me in mind.