Blog - Buying

January Housing Statistics: "YEG Housing Market Sees Stable Transition Into New Year"

Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for January 2023 decreased 25.8% compared to January 2022 and saw a small decrease of only 0.2% from December 2022. New residential listings were up 8.5% year-over-year from January 2022, while also noting an increase of 94.8% from December 2022. Overall inventory in the GEA was up 13.2% from January of last year, and up 5.3% from the previous month.

For January, detached unit sales were down 32.1% from January 2022, but saw a small increase of 1.4% from December 2022 at 583. Semi-detached unit sales were down 35.9% year-over-year but increased by 2.0% from December 2022. Row/Townhouse unit sales also decreased 5.7% year-over-year and increased 10.4%…

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MEGA OPEN HOUSE TOUR!

You are cordially invited to a MEGA OPEN HOUSE TOUR!!

When: Sunday, February 5, 2023

Time: 2:00 pm - 4:00 pm

Location: Creekwood, Chappelle Neighbourhood SW Edmonton. Click here for the map and locations of all the homes participating in the tour!

Check out over 24 different properties located in the sought-after communities of Creekwood/Chappelle. The homes are resale and new construction homes - definitely a must-see!

ENTER TO WIN AN iPAD courtesy of Klair Custom Homes!

Here's how: There are over 24 homes to view - enter a draw at each location and increase the odds of winning!  View one or all of the homes! The winner will be announced at 5:00 pm at Klair Custom Homes Showhome located at 5606 Cautley Cove.

Located Specifically…

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3 Days To Getting Your Finances In Order For 2023" Challenge: DAY 2!

 DAY 2: CHECK YOUR CREDIT

If you plan to buy a house in the next year, checking your credit score is something you should consider doing now. Credit plays a huge role in qualifying for a mortgage. As a homebuyer, your credit score will positively or negatively affect your loan options, interest rates, mortgage terms, and how much house you can afford. Even if you aren't looking to purchase a home anytime soon, annually checking your credit score is a good financial habit to build. Doing so will allow you to:

1. Regularly dispute any errors to your credit bureau.

2. Build and maintain good credit by consistently assessing your current credit position.

3. Stop identity theft and credit card fraud early on.

4. Manage your finances and…

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Will a Home Inspection Help Sell your Home Faster?

Usually, a home inspection is done after an offer is made to buy a home. The offer will typically include a condition that the property must pass such an inspection. The buyer then hires the inspector, who goes through the home, top to bottom, inside and out, looking for issues.

You can also get an inspection done as the seller. In this case, you are paying for an inspector to produce a report on your home — before you sell. This is often called a pre-sale home inspection.

 Why would you do this?

A pre-sale home inspection can make your property more attractive to buyers. This is especially helpful if you’ re selling in a buyer’s market, where there are more homes like yours for sale than buyers. The report serves as an enticing feature of…

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Plans to Make Before Closing Day

When you sell your property and buy your next dream home, closing day can come faster than you might imagine. Before you know it, it’s just weeks away! So, it’s important to make the proper plans to ensure everything goes smoothly.

Here are the most common plans you’ll need to make:

1) Contact the post office to get your mail forwarded. No matter how thorough you are in updating your address with companies you deal with regularly, you’re bound to miss a few. Using the mail forwarding service will ensure you get that mail.

2) Double-check that your home insurance will be transferred on closing day so your new home is covered from day one. Also, don’t forget to update vehicle and personal insurance (medical, life, etc.)

3) Make arrangements…

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Buying a Home Out-of-Town

Have you ever considered selling your home and moving out-of-town? One concern that might be holding you back is the uncertainty involved in finding a home in an unfamiliar place. What are the best neighbourhoods? What are homes selling for in that area? What is it like to live there?

There are many ways to find out.

If possible, spend a day in the area. Walk some of the neighbourhoods. Visit schools and parks. Check out the local shopping and other amenities.

Talk to someone who lives there. This will give you firsthand insights into the area. You can facilitate this through a Facebook post where you ask to chat with a local resident.

View current listings in the area online. Most listings include helpful data on safety, demographics and…

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“Non-Market” Reasons Why it Might Be the Ideal Time to Sell

When considering whether or not to sell their home, many people think about market conditions. They consider whether it’s a buyer’s or seller’s market. They look at trends. They try to time the sale to get the best price for their property.

While market conditions certainly can play a role in deciding whether you should sell now rather than later, many other factors can influence that decision too.

For example, you might have outgrown your home and need more space. Perhaps you need an extra bedroom or a larger kitchen. If you wait until market conditions are perfect, you may languish for months — or even years — in a home that’s too small for you.

The same can be said for downsizing.

Another “non-market” reason you might want to sell your…

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5 Easy-to-Forget Things to Do

When you have a buyer coming to view your property, you want to make the best impression possible. So, you do the usual things. You clean, tidy and declutter. However, some details are easy to forget.

For example:

1) Is there a mat by the front door for shoes, umbrellas, etc.?

2) Did you air out the home as much as possible to get rid of any lingering odours from a pet, recent cooking, etc.?

3) Did you empty trash bins?

4) Is the buyer (or his or her agent) aware of any doors that may have special locking mechanisms? If not, leave a note with instructions. For example, “To open the patio door, pull up the deadbolt lock at the bottom.”

5) Are there any kids’ toys on the floor that might accidentally get damaged or be a tripping…

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How to Determine the Best Features of your Home

What is it about your property that stands out? What will buyers like most about it? What are your home’s most enticing characteristics?

Answering those questions will help you determine which features to emphasize when selling your home. After all, you want buyers to notice and appreciate your property’s best attributes.

But here’s the challenge...

It can be difficult for homeowners to determine which features of their home are particularly desirable to buyers. After all, you live there! So, there might be a fantastic characteristic of your property that you’ve become so used to, that you don’t even realize its value.

One way to gain perspective is to ask friends, “What is it about our property that you like most? What stands out to you?”…

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Questions to Ask when Selling your Home

If you’re thinking of selling your house, you probably have a lot of questions that need answers. In fact, asking the right questions is key to selling your home successfully and for the best price.

Here are some of the most important questions to ask:

1) How much is our house likely to sell for on today’s market? What should the listing price be? What are the selling costs?

2) How long will it take to sell? What happens if our house takes longer than expected to sell?

3) How do we prepare our house for the sale? Will we need to make any major improvements? Will we need to hire a contractor?

4) What’s ‘home staging’? Will we need to hire a professional stager? Can we do some of that staging work ourselves?

5) What happens when we get…

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