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
No matter where you live, listings for homes in popular neighborhoods are often few and far between. When these homes do hit the market, they typically don’t remain on the market for very long. With that in mind, if you have your heart set on buying in a desired area, starting your house hunt early and having patience means that when the moment comes, you’ll need to act quickly.If you’re really interested in a home, get as much info as you can beforehand: property reports, disclosures and offer due dates. These can usually be requested through your buying agent. Very important is to keep your schedule open, because in hot markets, available properties wait for no one.
Have your proof of funds & pre-approval ready
If you’ve decided you want to throw your hat in the ring and make an offer, always assume that many others have as well. Anticipating a multiple offer situation can help you come out ahead. After you’ve seen a home, speed is often the key. For hot markets, you might only have a day or two to get your offer submitted after viewing the home. Double check with the seller’s agent regarding the offer deadline so that you can be sure yours is submitted on time. In order for you to be “offer ready” when you find the property you want, it’s crucial to have any supplemental paperwork, like your mortgage pre-approval and proof of funds for the down payment, ready to act quickly.
Keep your offer simple
Most offers include conditions — things like completing inspections and receiving a mortgage approval — that need to happen for the transaction to move forward. When looking at offers, sellers tend to see conditions as potential opportunities for the deal to fall apart. As a result, they’re more likely to choose an offer that’s relatively “clean” or reduces their risk of potential hang-ups. In a competitive market, you might see other buyers removing or reducing their conditions periods to make their offer more competitive. However, it’s also crucial that you feel comfortable moving forward. For example, if you choose to waive an inspection condition, you’re agreeing to buy the home regardless of what problems may exist. As you put your offer together, consider the maximum amount you’re willing to pay, what compromises you’re willing to make and how flexible you can be on your closing schedule
Start with a strong sale price
Besides keeping your conditions in check, there is another component of the offer that will help set you apart from the crowd and it’s fairly obvious — the offer price. When you’re bidding for a home in a desirable neighborhood, you need to put your best foot forward.
As for how much you should offer, consider the asking price first. If it’s within your budget you may want to at least offer that amount if not a little more. Consider the amount listed on your pre-approval as your maximum, and work within those limits.
Write an offer letter
On the surface, all offers look the same. That is to say, they all generally include the same information about the buyer. In a situation where the seller is considering multiple offers, all that information can start to blend together. An offer letter, or a personal note you write to the seller explaining why you’re the perfect buyer for the home, might just be the thing that sets your offer apart from the others. Bear in mind that the ideal offer letter is short, sweet, and to the point. Your goal is to connect with the seller emotionally so that they’ll be more inclined to choose your offer. In a few paragraphs, you’ll want to tell the seller why you fell in love with their home and why they should sell to you.
Summary
It can feel overwhelming shopping for a home amongst crazy competition, but don’t be discouraged. With the right amount of preparation, you’ll be ready to make the necessary moves to secure the home of your dreams.
Thinking of buying a house and need help? Contact me at 780.504.4470 or galina@soldlocal.ca! I can help!
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
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
This stunning 2 Story home can be found in the southeast community of Charlesworth.
This immaculate home is ready to be moved into and start your family memories. Main floor boasts open concept kitchen, living and dining room, with laundry and 2 piece bath. Upstairs you have master bedroom with 4 pce bath and walk-in closet. 2 More spacious bedrooms, and 4 pce bath round off the upstairs. Basement is ready for your development, options are endless. Oversized double detached garage make this the home for the whole family.
Check out the floor plans for this 1405 sq ft single family home FLOOR PLANS
Contact Anna @ 780.903.0242 for details on this property
LOOK AT THIS CURB APPEAL!! Welcome to your new home in Grovenor! This stunning 3 Bedroom 1 Bathroom home features a HUGE immaculate backyard (43ftx 143ft) with large double garage and zoned RF3. BRAND NEW rebuilt side deck and in the summer this backyard is fully covered with trees which get covered in fruit, not common when living so close to downtown!
Inside the home is fully updated, updated include: Newer roof, hot water tank and furnace motor, Master bedroom with a generous WALK-IN closet, Kitchen with all updated cabinets and appliances and beautiful bathroom which has been freshly tiled.
The basement is fully developed with three rooms including a living area/bedroom, third bedroom and room for storage. Roughed in plumbing for bathroom development is available as well.
Don’t miss out on this great opportunity to own in one of the hottest neighbourhoods in Edmonton! Only 399,700!
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At KENNEDY we pride ourselves in providing our clients top notch, first class real estate services. What makes us unique is that we offer these services collectively as a team – an entire office team of 30 working for all of our clients. We provide consistent, competent and effective advice and services in order that our clients make the best decisions.
Just as each home is unique, so too is the BUYER for that home. You can’t be all things to all buyers, but you can be the right home for the right buyer. Custom marketing gives your home the BEST chance at securing that RIGHT buyer. At KENNEDY we firmly believe that each home has a unique buyer for it – and our marketing is directed toward that end.
One host with many servers. Together we can accomplish much more as a whole than in parts. Success through teamwork. Our listings are shared with the team to market to their prospective channels, sphere and clients. Traditionally offices typically do not share in the marketing of the individual agents listings. We believe in the more the merrier when it comes to sharing in the marketing of a property. Our entire marketing platform is shared with the whole team. Our clients benefit from the increased effort and exposure.
The KENNEDY approach has always been about innovation and staying one step ahead of the fold. We are leaders in our industry in terms of sales efficiency, intelligent marketing, and building synergy within our team/industry and our most awesome clients.
If there is a better way ….we will find it and implement it. That’s one of the many benefits of a team approach. We have a unique marketing approach, a polished product and the manpower to make it all happen for our agents and our clients alike.
Our Listing Book! Take a tour…
Marketing in action… a few examples..
Coming soon…team approach on this home produced 14 showings in 24 hours and three offers!! We let the pictures and the home tell the story. Showcasing the best this home has to offer in order to attract the right buyer – or as in this case right buyers!!
Every home has a story to tell, and everyone loves a good story. Here is such a home. This homeowner went above and beyond with his basement reno and we wanted the wold to know….have a look!!….and the home had two offers on it within three days!! Owners were over.the.moon!!!!
Kennedy Real Estate is the premier independent full-service brokerage team in Edmonton. Leveraging its innovation, brand recognition, real estate vision and tremendous resources, Kennedy Real Estate delivers a level of distinctive services unparalleled in the industry. By adhering to Kennedy’s standards of best-in-class talent, personalized service, superior quality, attention to detail and innovation, Kennedy Real Estate demonstrates a clear competitive advantage in marketing and selling the finest properties.
Team marketing in action: Private facebookpage to share our buyer wants and up coming properties for sale. A marketing platform and tool that is afforded to ALL agents that gives them the latest technology to not only promote the property but also to find buyer for it at the same time – via our ‘every property is unique’ marketing approach…
Each one of these is a lead generator. We can use implement these lead generators to help us secure buyers for our listings. Depending on what the property has to offer will determine how we approach the lead generation for the ‘right’ buyer. And this model /system is implemented by the whole team. It is absolutely brilliant. Its really the most efficient use of a team and the best way to sell real estate.
We also have three main websites and 28 subdomains that we use for generating traction on our properties.
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This half-duplex features a cozy gas fireplace in the living room, tile & laminate throughout the main level & warm neutral colours throughout. All Black Appliances in the Kitchen go very well with the warm palette.
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No pets & No smoking in this clean home! Fully-fenced backyard with fruit trees & garden shed is great for the little ones.
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.
