Renovated does not describe the transformation of this home. This bungalow is new from top to bottom. Modern, fresh, clean look that will leave you impressed. New windows, entry and interior doors, complete new bath, complete new kitchen, brand new stainless steel appliances, new lighting, completely repainted, new high efficiency furnace, and new hot water tank. The exterior has also been completely redone, new siding, new shingles, new soffits, facia and eaves, new front step, new concrete sidewalks and yard just landscaped with new sod.

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Property Details

MLS:E3273636      LIST PRICE: $239,900      COMMUNITY: Vegreville Yr Built : 1972

SQ FT: 894           2 BEDROOM / 1 BATHROOM

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Vegreville Home For Sale

Stop looking and start packing. BEST VALUE IN THE AREA. This beautiful 3 bedroom bi-level in Britnell has it all. Bright open concept with vaulted ceilings, large spacious kitchen with NEW stainless appliances, corner pantry and raised island eating bar. Living room features a cozy corner mantle gas fireplace with tile surround. Controlled lighting throughout the house. Large master bedroom with walk-in closet and comfortable 4 piece ensuite. The unspoiled basement is ready for you when you need space to grow. The fully landscaped fenced yard features a large west facing deck (with no maintenance for years as it was just restained), and an insulated and drywalled double garage. This home shows 10 out of 10. See it and you will love this home. Great access to Fort/Manning and new Anthony Henday expansion.

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Property Details

MLS:E3273439 LIST PRICE: $369,500 COMMUNITY: Britnell Yr Built : 2004

SQ FT: 1453 3 BEDROOM / 2 BATHROOM Double Attached Garage

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Edmonton Home For Sale

Sherwood Park Home For Sale

Updated 1216 sqft bungalow located in a quiet crescent in Glen Allan. This home features many recent upgrades including neutral carpet, new lino, freshly painted, some new lighting, and all newer appliances. The main floor has a spacious living/dining room, large eat-in kithcen, master bedroom with his/her closets and ensuite. The fully finished basement has a fabulous open rec room with stone fireplace, bar area and includes pool table w/accessories. Your basement also has another bedroom, third bathroom and sauna to relax at home. This home is a gardener’s dream with plenty of mature landscaping and a fully fenced backyard retreat. Great location close to schools and rec centre, all packaged in this move-in ready home.

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Property Details

MLS: E3266249 LIST PRICE: $309,900 COMMUNITY: Glen Allan Yr Built : 1973

SQ FT: 1173 4 BEDROOM / 3 BATHROOM Front Drive Access

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Edmonton Condo for Sale

Fabulous downtown condo with exceptional river valley views. This two bedroom, two bath, south facing corner unit has a very functional open floor plan. Crisp espresso oak cabinets and rich granite counter tops, stainless steel appliances and kitchen island offered in this modern kitchen. The bathrooms offer raised bowl sink, granite countertops and ceramic tile surround. This unit features hardwood floors, 9` ceilings, AIR CONDITIONING, in-suite laundry, natural gas barbeque hook-up, spacious balcony and unobstructed views on the river valley. Separate titled heated underground parking stall, plus fitness room and social room available in this downtown hillside building. Enjoy stress free condo living with great access to river valley trails and close to LRT. Amazing value worth checking out.

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Property Details

MLS: E3264360 LIST PRICE: $359,900 COMMUNITY: Downtown YR BUILT: 2008

SQ FT: 936 2 Bedrooms / 2 Bathrooms Underground Heated Parking

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Edmonton Condo for Sale

Historic Charm! Substantially renovated character home on a quaint & quiet tree lined street in “Old Fort Saskatchewan” just steps to the river valley. Beautifully maintained “Craftsman” style 2 storey featuring large enclosed front porch/sitting room, large living room with gas fireplace, formal dining area, “flex” room, & dine-in kitchen. Top floor features 4 large bedrooms & renovated 4 piece main bathroom. Fully finished basement offers full bathroom, laundry area, recreation room & storage. Upgrades include: Newer windows & vinyl siding, upgraded furnace & hot water tank, newer flooring, freshly painted interior, renovated kitchen, upgraded insulation, electrical, fixtures, shingles & more. Lots of land! 2 lots, fully fenced & a very private back yard with a beautifully manicured lawn, detached garage, carport, & shed. Large enough for the growing family inside & out, central Fort Saskatchewan neighbourhood close to all amenities. Move right in & enjoy this wonderful home & serene surroundings.

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Property Details

MLS: E3260163     LIST PRICE: $319,900     COMMUNITY: Old Fort Saskatchewan     YR BUILT: 1925

SQ FT: 1646          4 Bedrooms / 2 Bathrooms          Single Detached Garage

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Fort Saskatchewan Homes for Sale

John Rose discussed economic impacts that could play into this year’s market.  Always in the media today is the Global financial markets, which he indicated would have a modest / insignificant impact on Canada.  Predicting oil prices to stay in the high 80′s / low 90′s will set the stage for a solid foundation for Edmonton and Alberta recovery.  When looking at our rising Canadian dollar his prediction was to stay between $1.00 and $1.05 through 2011 and into the future.  Not so much based on strength in Canada but more weakness or weakening of the US dollar.  Rose stated it was inevitable that interest rates increase by second half of 2011 by at least 3/4 point and by 2012 possibly up 2 basis points.  A huge impact of the stability in the Edmonton region is the trending down of unemployment.  6 out of every 10 jobs in Alberta were created in the Edmonton area.  This stability means greater household incomes in our area, more consumer expenditures and more individuals looking at the housing market.  The future holds stable, sustainable growth without peaks & troughs of recent history.  In summary he suggested low interest rates will not last and may jump sooner than later, with modest housing market recovery from the last few years.

Patrick Shaver discussed development in the greater Edmonton area.  Based on market demands the question he asked was what does the market want?  His response was more people want low density fee simple single family homes, “front door, patch of grass in the back” he stated.  Demand in the Edmonton region is to keep prices down which based on available development means smaller lots for those single family homes or higher density in the newer development areas.  Long term development areas focused more growth in the south and southeast of Edmonton with emphasis based around employment areas of Nisku and Heartland. He commented on the limited land Sherwood Park has to develop, suggesting  3-7 years worth of land to develop.  The last couple years we saw the cost of construction come down from the boom in 2006 and his forecast is for relatively flat housing starts with a modest increase through 2011.

Ian Glassford, Chief Financial Officer of Servus Credit Union gave us a 20 minute summary of the economy, rates and housing.  Although the global economy is volatile he saw the US, China and India are growing which should hold things together.  The european economy is suffering but since Germany is doing well they are key to european growth  and backing euro credit.  We shoud keep an eye on Portugal and Ireland but hold on to something if Germany starts to make dismal headlines.  The US dollar is trading lower and is likely to remain that way to increase trade and decrease the value of their debt, if their dollar is lower as they begin repayment.  For Canada our concern is if our dollar starts trading too high, in the $1.10 – $1.15 range.  Our interest rates will increase in the future as continued low rates could lead to the problems we saw in the US and too high of rates can choke our economy.  Good things we are seeing are that our strong dollar is taking pressure off the bank to increase rates too soon but it is a balancing act to manage the dollar and interest rates.  In the short term we will likely see rates slowly start moving up 1/2 – 3/4 point, but warned to “watch for the US to see if the rates need to move higher”.  In the next couple years he predicted that rates will rise 1 – 2 percent and that their is potential for longer term inflation as the US tries to get out of debt down the road.  Our current market’s prediction downside is we are vulnerable to rates and questionably changes in qualify rules.  The upside is that recovery is underway, Albertans should fare better than the rest of Canada and the Banks recognize the importance of supportive rate environment.  In Ian’s words, “2011 housing should be okay, boring is good”.

Richard Goatcher gave us CMHC’s housing market outlook which was still looking at numbers from last quarter with some tweeks from recent activity.  He explained employment is improving and in the Edmonton region we are seeing more full-time employment  opposed to only part-time.  The jobless rate is trending downward showing our employment growth to be around 2% which is not strong but better than the last couple years.  The theme you may be hearing is again, higher interest rates are coming but later in 2011.  Housing prices remain affordable through 2011, activity levels remain low, residential sales will start slow this year and progress into the year and our listing inventory will remain high -maintaining prices.  The changes we saw in 2010 was the summer had about 20% of homes under construction as spec, so builders started slowing up to sell down some inventory.  2010 saw some price softening as higher priced homes $450,000 + absorbed most of this price adjustment.  For 2011, new house prices should start to slowly move up, and average home prices will see an upward modest movement as well.  Looking at the rental market, improved demand helps lower vacancy rates (around 3.5%) and through 2011 rental price increases should not be huge as vacancy would need to drop below 2% to see larger rental rate increases.  In summary, we should see more employment growth, little upward change to the housing starts and prices, modest increase in resale activity and price, with lower vacancies in rental markets.  Look at higher interest rates in 2012, higher prices in 2012 and rental costs increasing in future as vacancy rates come down.

Finally our new Realtors Association of Edmonton president – Chris Mooney gave a lighter, quick summary of our 2010 market and 2011 forecast.  With all the swings in our market in recent years raises the question “what’s normal anymore?”  Early 2010 warnings of mortgage rate increases and qualification changes created buyer frenzy and early sales peaks.  Sellers responded to these sales and again our inventory ballooned causing the latter part of the year seeing prices soften.  Chris gave a comprehensive housing market statistical breakdown which I plan to cover in future posts so won’t get into details here.  His forecast for 2011 saw no real advantage for buyer or seller.  Stable markets, modest price increase with seasonal fluctuations, no new spec homes creates more demand for resale homes.  The condo market sales and prices to remain static while the commercial sales markedly stronger.  This year we see buyers not panicked having time to consult their Realtor and sellers require more patience possibly needing to look at improvements or staging and appropriate pricing to stay competitive.

When purchasing a new home the downpayment can often be the limiting factor in what you can afford even more so than your financing capacity. Your credit score and income can be great but even though you can qualify to buy a more expensive home, however the value of downpayment available usually indicates your price range.

Many buyers often only rely on savings, when another option is a cash “gift” from family or friends (hopefully repaid at a later date). One great option many buyers have turned to is using RRSP savings as their downpayment. This is further explained by Jenny Nicoll on her post RRSP – Home Buyers Plan  and Canada Revenue Agency’s website.  Any combination of downpayment can often be the difference in the home you can afford.  Knowing these options and repayment costs are important when deciding what works best for you and your home buying strategy. 

Talk to a mortgage broker or your bank and they will be happy to pre-qualify your mortgage and explain all your financing options.

 My initial blog on our new Sherwood Park Real Estate real estate market site does not start out with balloons, streamers and fireworks.  In the current shaky market it may feel as though the ground is crumbling beneath our feet.  The media continues to tell us what a slow market it is and many people talk around the water cooler about the typical summer market.  Unfortunately it is anything but typical.

On the Edmonton Realtors Association MLS® system (August 24) in Sherwood Park, there are 351 single family homes for sale.  In the last 30 days, 119 new listings have been added and only 59 homes have sold in the same period.  Condos showed a similar pattern with 78 active as of this date.  33 new condo listings have been added in the last 30 days and only 20 condos sold in that time frame.

When we look at the month totals for Sherwood Park market comparing July 2010 to July 2009, we see the slumping market indications.  Total units sold (Single Family and Condo) was 139 last year with this year only 91 sold units, that is a 34.5% decrease in sales from this time last year.  Average prices of solds are relatively unchanged from this time last year.  This is unfortunate for two reasons.  First, we have failed to see the improved market conditions projected earlier in the year. Secondly for sellers in this market it provides deceiving statistics.  With the surplus of listing inventory and reduction of sold activity pricing is becoming increasingly important in this buyers market.  Proactive market adjustments, emotional detachment, and competition scrutiny will keep sellers ahead of the game.  However they will still have to be patient as average days on market for solds from July 2009 (39.88) to July 2010 (50.55) is up 26.8% meaning it is only taking longer for your home to sell even when you are doing the right things.

Buyers are in a great position right now with increased inventories, reduced sales and extended days on market they have more selection and arguably more time to look.  They do have to pay close attention to their desired property searches as homes with price changes and competitive new listings can still move quickly if they are offer good value and appealling conditions.

Sellers are in a tough spot right now.  With plenty of selection for buyers your price has to be attractive to bring them into your home and then you only have one shot to “wow” that buyer once they are there.    Their market price must be competitive and their condition must be immaculate.  You need to know why you are selling and have a clear plan on how you plan to take your home from listed to sold.  So although the market is favoring buyers right now, there are strategies for sellers to market their home effectively in these shaky times.