Single-family detached homes demand will continue to drive the market with the average price expected to increase six per cent, year over year, to more than $500,000. By comparison, condominiums are forecast to rise about one per cent in average price to about $185,000.
But hey, there is a good news for for first-time and move-up buyers, single-family detached homes in Edmonton remain very reasonable, with only Regina and Winnipeg market’s being more affordable, the study shows.
With more interest from young Canadian professionals and families in British Columbia and Ontario looking to migrate to the city to purchase a home and with Bank of Canada signaling interest rates hike from record lows to combat inflation this spring, it is time to call a real estate specialist in your area to start your house hunting rolling!🏠🗝
I can help you in finding, comparing, and negotiating your next home!
And the best thing, if you are buying a home, it doesn’t cost you money to use a real estate agent!! 😉
Galina Mironova
REALTOR | LOCAL Real Estate🍏
780.504.4470
Galina@soldlocal.ca
According to most forecasts, home prices are likely to continue to rise throughout the year, albeit at a more moderate pace compared to 2021. Home sales, meanwhile, are likely to pull back from last year’s record levels.
“While price growth is not expected to be as extreme in 2022, many of the conditions that supported it right up until the end of 2021 will still be there on New Year’s Day,” the Canadian Real Estate Association (CREA) told us in its year-end housing forecast for 2022.
While CREA suggests activity could calm down briefly early in the year, it added that this year’s spring market “will no doubt be an interesting one.”
Demand remains strong from an “unobservable but no doubt large number of households waiting for new listings to show up,” according to CREA. But anticipated interest rate hikes later in 2022 could start to deter new homebuyers looking to enter the market.
Here’s a look at some of the key economic and housing forecasts for 2022:
Average home prices: +7.6% (CREA)
Home sales: -8.6% (CREA)
Inflation: 3.4% in 2022 and 2.3% in 2023 (Bank of Canada)
GDP: 4.3% in 2022 and 3.7% in 2023 (Bank of Canada)
If you’re looking to purchase or sell this year, I’d be happy to discuss how this outlook might impact your plans and what options are available for you.
DM me today, so we could start working on your plan tomorrow!
Galina Mironova
Associate | REALTOR
LOCAL Real Estate
What is a CMA🤔 and how do you get one?
Better known as a Comparative Market Analysis, a CMA helps determine what your home is worth compared to similar properties in the area that have sold in the last 4-6 months. In short, a CMA will help you understand how your home will fare against the competition. To determine the value of your home, a real estate agent will compare your home to homes with similar square footage, age, amenities, upgrades, condition, and those which are located in the same neighborhood or a similar area.
The more similar these comps, the better the price estimation. Keep in mind, CMA’s are very subjective because it may be hard to account for things such as the home’s curb appeal or what the home’s located near (ex. across from a railroad or power station). Finding a good agent that can help estimate the value of your home, based on these factors, is vital in determining the best list price.
Other factors an agent will look at when compiling a CMA include when a property sold and certain characteristics of the home. For example, when looking at the sold dates of other properties in fast moving markets, an agent will focus on sales from the last 2-3 months vs. longer. The characteristics of your home must closely match the characteristics of the comparable homes. For example, comparable homes should have the same number of bedrooms and bathrooms and a similar sized lot. Keeping comps as similar as possible give you the best footing for generating the best list price.
As you can see, a lot of value is derived from the compilation of a CMA by a real estate expert. The best way to get your home sold is to be in a competitive price range and a CMA will provide that.
Did you know that a Real Estate Agent could provide a CMA at no cost?!🤩
Contact me today for a complimentary consultation!
CORNER LOT in Malmo Plains! This beautiful, well-maintained property boasts unique features that make it a cut above the rest. To learn more…
Large main floor windows flood the home with morning light. One 2pce bath, kitchen and two living rooms make up the main floor area. Upstairs you will find 4 BEDROOMS with one 4 pce bath, and his/hers closets in the master bedroom. The basement provides for additional storage and living space and is equipped with 100 amp service. Outside you will find a small storage shed, garden and green space for hosting or lawn games. An OVERSIZE GARAGE is equipped with a SHOP in one bay and room for vehicles in the other. This is a rare gem, poised for the opportunity and creativity of the next generation! Fully fenced and minutes away from schools, parks, Southgate Shopping mall & LRT. Discover for yourself why so many residents of Malmo Plains wouldn’t want to live anywhere else!
Welcome to Helenslea Estates! This charming 1.5 Storey home BACKING RAVINE with 1 ACRE lot located just 5 MINUTES away from the city limits. The spacious driveway is hidden in a large private greenspace. Walking up the steps you will find an over 2500 sq.ft. of living space for your family to enjoy! The main floor boasts NEWER OAK HARDWOOD (2013), RENOVATED FIREPLACE, MANTLE, & HEARTH (2018), 4 bedrooms, 3 bathrooms (INCLUDING 1 OF 2 ENSUITES), 2 living rooms, kitchen, and a large dining room. The upper level boasts the full master bedroom, 4PC ENSUITE with an office/living room and porch overlooking the front driveway. The basement includes 1 bedroom, laundry room, CRAFTS ROOM, REC ROOM and WORKOUT ROOM. Step out onto the deck and take in the beauty of the HAND-CRAFTED ROCK WATERFALL. Mature trees grace the backyard, with multiple sheds and a VEGETABLE GARDEN in the back.The gates at the front & back open for ACCESS TO VEHICLE STORAGE. A pure serenity just steps away from the city! Welcome HOME!
Address: 24 53226 Range Road 261, Rural Parkland County
I am sure, if you would be given an option, most of us would choose a weekend in a park or on a couch with a nice book, not on a ladder pulling leaves out of a gutter. But when your home is your biggest investment, maintaining your house is a must. Home maintenance can feel like a boring chore, especially for a new homeowner who has never seen a boiler or a furnace up close, not to mention draining it / or replacing a filter. But it doesn’t have to feel daunting or overwhelming. A secret to a well-kept and properly maintained house is to operate it with the season! Follow a seasonal home maintenance schedule, and keep up with the small things, and your house will be always in great shape!
Monthly
Choose one day each month for these revolving items which can easily be performed in a morning or afternoon.
Replace the furnace filter (if you don’t have central air conditioning, then you only need to do this during months of operation).
Clean your kitchen range hood filter.
Test your smoke and CO (carbon monoxide) detectors.
Clean your shower heads and faucet aerators.
Inspect and clear out all sink and tub drains.
Semi-annually
These tasks should be performed twice each year, once when preparing for winter and again each spring.
Replace smoke and CO detector batteries.
Check your attic for evidence of water incursion, rodents and confirm your insulation is in good shape.
Inspect your windows and doors (ensure frames, sweeps, stripping and caulking are in good shape).
Test your hot water tank’s pressure relief valve.
Inspect your eaves roughing, gutters, and flashing.
Clean your baseboard heater grills (turn off any breakers beforehand and be sure the grills are dry before re-engaging them)
Vacuum your air return ducts
Pull out appliances like your fridge and stove to vacuum and dust behind
Annually
Annual maintenance and inspections usually happen in the spring or fall with a few exceptions that are not season-specific.
Spring:
Inspect and pressure wash your home’s exterior.
Pro tip: Keep an eye on the caulking used to seal your siding.
Inspect your roof, eaves, and flashing each spring.
Pro tip: If there’s any sign of curling, cracking or disintegration, we recommend calling a roofing inspector immediately.
Inspect and clean your AC.
Pro tip: You only need to use a garden hose to clear dirt and debris from the unit. Remember to disconnect the power first!
Check your deck or porch, and wood fence for damage or rot and replace boards as needed.
Pressure wash your deck and fence. Watch your pressure settings though so you don’t accidentally gouge your wood!
Inspect your asphalt driveway. If you see the color and definition of individual pebbles, then you know it’s time to reseal.
Have your carpets professionally cleaned. You can also rent a carpet cleaning machine.
Have your chimney and fireplace/wood stove inspected and cleaned.
Check for mould: Inspect your home’s interior, especially places you don’t see often, and check for musty or dank odours.
Pro tip: If you discover mould, do not stop until it’s safely cleaned and the source identified and corrected—this may require a mould remediation expert.
Inspect horizontal runs from your gutters.
Pro tip: Ensure water is being directed away from the house so it does not collect and soak into the foundation.
Inspect your foundation for cracks and moisture.
Fall:
Test your home’s thermostat.
Inspect and clean out your eavestroughs and gutters.
Check your septic system (if you have a septic tank, it’s important to have a professional inspect it annually).
Drain and shut off exterior faucets.
Any time of year:
Inspect your plumbing for leaks or sweating.
Review your electrical system. Whether you live in an older home, or a new build, identifying potential problems early can save a lot of stress down the road.
Call an HVAC professional to service your furnace each year.
Inspect your flooring for wear and tear.
Check your toilets-if they start to rock, prevent damaging leaks by replacing the flange.
Check for wiggly door handles and squeaky hinges
Preparing for the long-term
You know that rainy day you’re always told to save for? Putting money aside for any eventual repairs is a smart way to avoid unnecessary shocks down the road. With modern building materials and warranties, it may be decades before repairs are needed, but it’s best to be ready.
Five years:
Have your ducts cleaned
Replace carpet in high traffic areas. A long-term, economical solution is to install laminate flooring, which can last upwards of 15 years with little maintenance.
Paint your home’s interior.
Replace the gaskets and washers in your faucets to prevent leaks.
Ten years:
Re-paint your home’s exterior. Depending on the type of paint and materials used for your siding, you should budget to repaint every 10 years.
Refinish your hardwood floors. This may need to be done sooner—or later—depending on how highly trafficked your floors are.
15 years:
Be prepared to replace all or part of your roof, depending on the materials used and any warranties applied.
Laminate flooring may need to be replaced.
Siding may need to be replaced on your home’s exterior.
25 years:
CSA approved windows reach the end of their lifetime at 25 years, and will likely need to be replaced.
It’s never too soon to start your own household maintenance schedule, and to start saving for those larger eventualities down the road. The savings to your pocket book as well the peace of mind that comes with preparedness will go a long way to ensure long-term enjoyment and comfort in your home.
Ready to start your dream home search? Or need a plan to sell?
Welcome to Secord! This stunning townhome with the total living space of over 1200 sq ft above grade and double detached garage has so much to offer! On the main floor you will find a gorgeous modern kitchen with stainless-steel appliances and walk-in pantry. A spacious dining and living room area offer a wonderful space for hosting or some quite family evenings. The thoughtful floor plan allowing plenty of natural light in and makes the home bright and warm all year round! A second floor is a home to the large main bedroom with 3pc ensuite bath & walk-in closet. Two more bedrooms and laundry complete this level. Downstairs, the unspoilt basement offers ample space for an additional rec room & bathroom. A recently designed deck is perfect for warm, summer days and outdoor gathering! The double car detached garage is perfect for cold winter days and additional storage. Close to schools, amenities, and easy access to main highways this home is a perfect match for all your needs! NO CONDO FEES!!
Contact Us Today to Book a Showing or if You Have Any Questions:
Mark Kennedy, REALTOR® | 780.932.3396 | mark@soldlocal.ca
This quiz is for those sellers who have tried to sell and were unsuccessful and would benefit from taking this quiz to find out about the health of their home.
Post written by:
Let’s go…
Select the one that BEST suits your answer.
Quiz below picture gallery…
1. Smells that don’t Sell
2. Exterior Issues
3. Decor Dilemmas
4. Design / Function Hurdles
5. Missing in Action
6. Locationallty Challenged
7. Feng Shoot
8. House Audit Options
Contact The Real Estate Doctors, Cynthia and Jennifer for a home audit today!
Writing prescriptions for your property condition. Call today and get house healthy and SOLD.
Let me just say that walking into a potential new client listing meeting and noticing the KonMari method in action got me really, really excited. My client was super impressed that I kept noticing everywhere she had “KonMari’d” her residence – such as the big glass jars in the pantry labelled clearly, the rolled towels in the nearly empty hall closet, and the uniquely folded clothing in her dresser drawers. She was especially proud of her undies drawer, which was super endearing that she would share this with me. As it turns out we had both recently binge-watched Marie Kondo’s Netflix series “Tidying Up” and read pieces of her book “The Life Changing Magic of Tidying Up”.
I would like to first commend and congratulate those that have undergone this drastic decluttering method for themselves. Sometimes I think I’m more of an eclectic hoarder than I like to admit but having the time to do more things with my family because I’m not wasting my time moving clutter around seemed very appealing to me. That – and the concept of ‘sparking joy’ really resonated with me. Imagine being happy in every room of your home, with every cup you drink from and with every article of clothing you put on your body. If you are fully surrounded by things that bring your happiness what is there to be sad about then right? There is something to be said for this happiness and how it pertains to listing your home in our real estate market.
For those of you unfamiliar with the KonMari method I highly recommend her Netflix series and there are a multitude of resources on the subject, but here’s my take on the key principles.
Marie Kondo recommends using a 5-step-5-category approach of organizing instead of trying to organize room to room. This can be an emotionally taxing process and its recommended to do this all in one go for the best overall effect and impact on your life moving forward. If you get stuck along the way try to remember that you are envisioning your ideal future life and only want to bring those items with you to this new life that align with what you are creating for yourself. Kondo maintains that each item that is kept should ‘spark joy’ within you – think of holding a newborn baby, a little puppy or a stapler if office supplies are what do it for you. Once you internalize the sensation of “sparking joy” it gets easier to recognize the feeling and trust your intuition as you go through the process. Also – do this with your family – because Kondo believes that tidying your home will tidy your relationships too.
Clothing – Put all of the clothing from the entire house into one room and then go through it. Touch/hold each article one by one and see if it “sparks joy” – so if the item speaks to your heart you keep it and if it doesn’t you thank it for its service to you and let it go. The thanking of items is very important – especially when you later get to more sentimental items.
Books – Same as clothing. That’s right – one by one and really think about if you are keeping it for a memory or if it will serve purpose in your ideal life you are working to create.
Paper – Same as above. Gather every paper into one room including every document, every newspaper clipping or drawing you have been holding onto. (…and you thought clothing was hard!!!)
Kimono – MISCELLANEOUS – Everything else like the kitchen, bathrooms and garage. Take everything out and don’t put it back unless it can inspire joy moving forward and there is a specific place for it.
Mementos/Sentimental –Honor these special treasures by putting them in a beautiful box that is easily accessible so that you can visit these sacred items every time you need to. Think about displaying these items in a special way instead of having them hiding in a closet somewhere.
***Remember that everything that is kept has a specific place and will be cherished. It is organized into bins, containers or drawer dividers and visible upon looking into a cupboard or opening a drawer. When you see what you have and everything has its own home there is a certain state of calm within the mind because the excess is no longer a burden to you. There is also no time or extra energy exerted trying to constantly make room things or look for things that have gone missing.
I remember staging my first condo for sale in St. Albert over 10 years ago. We had so much stuff that we rented a pod and took everything “extra” out of the condo while we lived in our new residence having showings and waiting for it to sell. After we sold, a month after moving in, we emptied the pod out and filled our house back up with excess items we didn’t need. Reflecting back, this was a very rudimentary version of the KonMari method – except the point is we didn’t need or miss all of the items that were in the pod. And we ended up just trying to cram them into our new house, creating burden and strain in our new life.
So how does this all relate to real estate and help you to maximize the price for your home and most importantly your well-being in the future???
YOU ARE CREATING THE LIFE YOU WANT WHEN YOU MOVE – You are not dragging extra items with you to your new residence. If you declutter using this method you will only be bringing items that spark joy and align with the future that you envision for yourself. Imagine the feeling of moving into your new home being surrounded by only what is meaningful to you. (Bonus – you will probably save a lot on moving costs too!!)
NO STRESS SHOWINGS – A quick wipe and things are show-ready as opposed to a major overhaul and cramming-items-into-every-crevice-panic-attack each time your realtor calls. Selling a home can be a stressful process on its own so any chance of removing additional stress can’t hurt.
NO CLUTTER MAKES HOUSES FEEL BIGGER – Potential buyers aren’t distracted by your personal items, tastes and extras. They will be looking more at the space in general as opposed to being distracted by a multitude of items. They will also easily notice the abundance of space for their belongings in the closets, the pantry and the other rooms of the house.
PRIDE OF OWNERSHIP – Having an organized and clean house means you care about the environment that you live in which easily translates to potential buyers. If your home is organized it shows buyers that you are the type of person that will stay on top of maintenance, upkeep and have done everything you can to maximize the life span of the home. This bodes well for envisioning their new future there.
BUYERS VISIT YOUR SPACE AND FEEL HAPPINESS – I personally believe in energy and the positive energy that families who have undergone the KonMari method have transferred into their homes is indescribable. They are experiencing joy together every day and it is emanating and pulsing from their home. They have also thanked their home for its service to their family and have put out the intention for the new life they are wanting to create – so they are aligning their past and present worlds. Gratitude and love are the strongest energies of all and are my personal inspiration when I perform a house clearing. (That’s why I couldn’t believe it when I saw Marie Kondo thank the house – I instantly understood what she was doing on a different level because it relates so much to what I help clients with!!)
In the end, like everything in life just take what resonates with you from the KonMari method and leave the rest. I have done my closet and my pantry yet I am far from finished with my home – but it is my process and it will move as fast and as slow as it needs to. If you are feeling overwhelmed in your space or planning on listing then this decluttering method may hold strong merit in your world. And if you need any help I’m always here.
-Lisa Bergmann, Realtor with Kennedy Real Estate Edmonton
3 tell tale signs you’ve chosen the right spot to put down your roots
If you’re thinking of purchasing a new home or investment property, of course you want to make a good decision, am I right? One great way to ensure you put your hard earned dollars in to an investment that will give back to you, is to pick the right neighborhood!
#1 It is easy to navigate to as many “major hubs” in the city as possible.
Bonus Points if there are options for people who don’t drive. Since I live in yeg, The University of Alberta, Downtown, a Hospital, or Southgate Mall are some. Close proximity to major commuter routes like Yellowhead Trail, Whitemud Drive, and Anthony Henday are also a plus. Lastly on this one, proximity to schools is HUGE! There must be a school or two or 3 nearby!
#2 Homes sell in the area quickly and in the $400,000 range (give or take)
Now- do not, I repeat DO NOT buy the most expensive home ever sold in the neighborhood for $410,000. You never want to be the most expensive home on the block. However, it speaks to the potential future value of the home to know that it is common for homes to sell in that range. Another reason to choose this price range is that usually it is a decent home, and this price range continues to sell even in a down market (ahem 2017-2019 in Edmonton, Alberta) so chances of losing your shirt or just plain being stuck with it, are minimal.
When we talk about the “value” of our, homes, what it really means, is “What can I sell it for?” So first, we must address “Who will I sell it TO” A good portion of buyers entering the market over the number of years to come will be Millenials. They are educated, environmentally conscious, health conscious, and thrifty. However, they are willing to spend their hard earned dollars very thoughtfully on only those experiences or tangibles which stack up their aforementioned ideals. So, having locally owned & sourced restaurants &coffee shops catering to a variety of dietary preferences, and hangouts offering space for commmunal collaboration could be a major benefit when re-sale time comes around. Other services or amenities of note are yoga studio or gym, the River Valley trails, a walkable grocery store, the library, an active Community League, current orupcoming public transit etc..
No longer is it about having the biggest and best house, no matter how far out to the burbs you have to go to get it… Location and overall quality of life is everything. And schools. Don’t forget the schools.
Ritchie Market, Home to Acme Meats, Beira, and Transcend Coffee. Boasting a large common seating area.
Single-family detached homes demand will continue to drive the market with the average price expected to increase six per cent, year over year, to more than $500,000. By comparison, condominiums are forecast to rise about one per cent in average price to about $185,000.
