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Friday, May 28, 2010

Staging Tips

Reprinted from the REALTORS Association of Edmonton Weekly Revew:
 
Closets need staging too! When I was a kid, we listed our house and before a showing we would stuff everything in the closets, not realizing that buyers open them! We came home to all our items fallen into the hallway and clearly a lost sale. It’s funny now looking back on those days, but on a serious note all areas need to be considered.

Sellers need to make closets look like a department store’s display of towels, beautiful and colour coordinated with neat folds. Make no mistake, the buyers are checking out all areas and considering them for their use. First impressions are key in every area of the home: furnace rooms, cupboards, laundry, closets, garages, decks and underneath them. Tell your sellers to leave no area un-staged and keep all their equity. Full de-cluttering services are available through Staging Services.

 
Thanks Jill!
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Thursday, May 27, 2010

Excellent! Audrey & Mike just sold another property at 410 50 ST THOMAS ST in ST. ALBERT

Property Photo: 410 50 ST THOMAS ST in ST. ALBERT
We have just sold a property at 410 50 ST THOMAS ST in ST. ALBERT.
Welcome to St. Thomas Manor, an 18+ complex situated in the heart of downtown. As you enter this top floor corner unit, you will be impressed by the hardwood flooring flowing throughout the home. Open concept living, the living room is quite large with corner gas fireplace & attractive surrounding mantle. Steps away are sliding doors to balcony with BBQ gasline & scenic view. The open kitchen offers loads of cabinetry & counter space, bright window over deep sink & breakfast bar. Master bedroom is quite large & includes 3 piece enusite. Second bedroom is a good size, perfect for company as well as your home office. Other features are ceramic flooring in both bathrooms & large storage room, jetted tub, insuite laundry, exclusive use car wash bay and two underground side-by-side titled parking stalls. Located downtown with all amenities such as museums, bookstores, cafes, fine dining, walking paths & the Farmer's Market while close to all major transit routes. This home shows great & is priced right.
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Wednesday, May 19, 2010

Canada’s hot real estate market starting to cool

Check out this at the national level. Thank god we don't have HST! Let's see how this impacts our local market:
 

Home sales activity in Canada came up short of the record for the month of April and new listings continued to climb, according to statistics released by CREA. Residential sales activity via the MLS® Systems of Canadian real estate Boards numbered 52,042 units in April 2010. This is less than 1% short of the record for national sales activity during the month of April, which was set in 2007. Compared to April 2009, national activity was up 20%. “The easing trend in national sales activity masks a rising trend in a number of major markets,” said CREA President Georges Pahud. “Real estate is local, so buyers and sellers should engage the services of a REALTOR® for knowledge about housing market trends in their market.”

Some 99,901 homes were newly listed for sale on Canadian MLS® Systems in April 2010, surpassing the previous record for the month of April set in 2008 by 0.6%. A total of 236,397 residential properties were listed for sale on Boards’ MLS® Systems at the end of April 2010, down 1.9% from levels one year earlier.

As for the national average price of homes sold via Canadian MLS® Systems, that figure rose 12.2% over this time last year. This is a smaller increase compared to those recorded over the past eight months. Bucking the national trend, price gains continue to increase in a number of major markets in Alberta, Ontario and Quebec.

“Next month will mark the passage of one year since the national average price rebounded from the recessionary trough to return to the pre-recession peak, so the rise in the national average price is expected to be more subdued next month, ” said CREA Chief Economist Gregory Klump. “The national average price could potentially be skewed higher over the next couple of months if buyers of higher priced homes in Ontario and British Columbia move their purchase decision forward to beat the introduction of the HST in July.”

For the complete release, visit CREAs web site.

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Wednesday, May 19, 2010

WOW! New property listed in Zone 27, Edmonton

Property Photo: 123 13111 140 AVE in EDMONTON
Audrey & Mike have listed a new property at 123 13111 140 AVE in EDMONTON.
You will be totally impressed with this 2 bedroom, 2 bath former show suite featuring the desirable 1130 sq ft "Citadel" floor plan. Inside, you can entertain family & friends in the huge living room or outside on the wrap around deck with natural gas line for your BBQ. The open kitchen features plenty of cupboard & counter space, ceramic tile back splash, black appliances including built-in microwave and oversized 4 seating breakfast bar. Additional features are walk-in closet, some fresh paint, insuite laundry with storage room, white crown molding & trim, angled maple laminate flooring, easy upgradeable air conditioning install, pet friendly complex and nearby underground parking with lockable storage cage. Close to all shopping, public transit & major throughways but tucked away in the complex corner for privacy, this home shows great and is priced right.
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Monday, May 10, 2010

Check it Out! Open House. OPEN HOUSE: Sunday, 16 May from 2-4 PM, Contact Lorie MacGregor 780-554-0802 for details

Property Photo: 5515 165 AVE in EDMONTON
Please visit us at our awesome Open House at 5515 165 AVE in EDMONTON.
OPEN HOUSE: Sunday, 16 May from 2-4 PM, Contact Lorie MacGregor 780-554-0802 for details
Less than $10,000 down to assume mortgage. Remarkable 3+1 bedroom 1460 sq ft 2 storey in the desirable Hollick-Kenyon. This immaculate home features a very functional floor plan with convenient 2 pc washroom off the large entry way. Bright living room comes complete with cozy gas fireplace with above niche for your big screen TV. Beautiful oak kitchen offers plenty of cupboards, counter space & sliding doors to the raised deck. Upstairs, master bedroom has a convenient 4 pc ensuite and large walkin closet. Downstairs and ready for your finishing touches is the partially finished basement. There is the forth bedroom, family room, a storage room & rough-in for another full bathroom. Other features are fresh paint throughout, main floor laundry, large back deck with privacy lattice & fully fenced south facing backyard. Located on a quite street, close to all shopping and the Military Garrison, this is a well-cared for home & shows pride-of-ownership throughout.
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Saturday, May 8, 2010

WOW! New property listed in Zone 03, Edmonton

Property Photo: 5805 168A AVE in EDMONTON
Audrey & Mike have listed a new property at 5805 168A AVE in EDMONTON.
Welcome to McConachie, north Edmonton's newest family neighbourhood. Situated on one of the biggest lots, this 2009 Sabal built 3 bedroom, 2.5 bath home has so much to offer. As you enter the foyer, you will be impressed by the exquisite Vienna Maple hardwood flowing throughout this level. Cozy fireplace accents the bright living room. Impress family & friends with custom designed kitchen featuring corner pantry, glass mosaic back splash, Cadbury cabinetry, soft close drawers, large island with breakfast bar & overhead bulkhead lighting nicely finished with stainless appliances. Upstairs, large master bedroom has convenient ensuite & walk-in closet, 2 good size bedroom & main bathroom finish this level. Other features are front veranda, high efficiency furnace & HWT, dual flush toilets, CAT5 smart wiring all still on builders warranty. Perfectly located neighboured, nestled among ambling tree lined trails, abundant green space & picturesque 6 acre pond, this family home shows great and is priced right.
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Saturday, May 8, 2010

WOW! New property listed in Zone 07, Edmonton

Property Photo: 1 10620 122 ST in EDMONTON
Audrey & Mike have listed a new property at 1 10620 122 ST in EDMONTON.
You can own this renovated two bedroom condo for the same price as rent. This solid well cared for building has recently had the roof done, new broiler system put it and has a well established reserve fund. This is a fantastic complex to be buying into. This unit is located in a nook in the building with no neighbours on the west, east or south of you. Upgrades include laminate flooring, ceramic tile, newer bathroom fixtures, newer kitchen, countertops, light fixtures, faucets, stainless steel appliances, builtin microwave hoodfan plus more. Walking distance to oliver square shopping district and close to NAIT with easy access to the university. Great location. Great Price. Great Complex. And possession is flexible.
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Wednesday, May 5, 2010

Staging Tips

Reprinted from our weekly review from the board.
 
Oversized furniture steals square footage from a property. It is very important that large, extra items are removed off the property to off site storage during the de-cluttering process. De-cluttering is not just removing small knick-knacks or family photos.

A viable storage option is the newly developed PODS® site in west Edmonton (online at www.pods.com). This is a great option for a couple of reasons. The POD is delivered to the site and the seller loads it. The seller locks it and then the POD is removed by the company and taken to heated storage. Once the seller moves to their new home, the POD is then dropped off for the unloading process.

Pre-packing 30-50% of the items makes for less stress during moving and allows for the best presentation of the staged property for the listing. A 10% discount is available for staging clients on POD rentals.
 
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Wednesday, May 5, 2010

Mortgage Changes Do Not Dramatically Affect Local Housing Market

From the Weekly Review sent to all members with in the REALTORS® Association of Edmonton:
 

April is the start of the busy second quarter for real estate, and resale housing sales were down over the same month last year according to a report issued by the REALTORS® Association. Average prices of single family houses moved down compared to a month ago, but were up by 8.2% from last year. Condominium average prices moved up from last month and were up 7.0% from April 2009.

“There were three increases to interest rates and changes to mortgage qualifying conditions in April; none of which seemed to slow down the Edmonton housing market,” said Larry Westergard, president of the REALTORS® Association. “Despite the upward movement, mortgage rates are still close to the 10-year average and not out of reach of most homebuyers. In many cases it is a matter of the REALTOR® lowering expectations rather than crushing hopes and dreams.”

Single family residences in the Edmonton area sold on average for $385,359 in April and condominium prices rose to $253,788. Duplex and rowhouse prices of $322,127 were up from last month and the average residential price was down to $339,314.

There were 3,884 residential listings in April with residential sales of 1,740 properties resulting in a sales-to-listing ratio of 45%. Days-on-market rang-in at 40 days and inventory at month end was 8,056 residential units.

“It is pretty clear that the costs of home ownership will increase as our economy improves relative to the US and other world economies,” said Westergard. “Only a REALTOR® has access to the latest and most detailed market figures and their experience and objective viewpoint will help the buyer and seller come to realistic expectations in their home search or sale.”

At the end of the annual membership renewal period there were 3,133 REALTORS® on the Association rolls as compared to 3,027 at the same time in 2009.
 
Very interesting!
 
Mike
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Tuesday, May 4, 2010

WOW! New property listed in Zone 35, Edmonton

Property Photo: 14253 23 ST in EDMONTON
Audrey & Mike have listed a new property at 14253 23 ST in EDMONTON.
Welcome to your perfect starter home. Claremont place is a very well run friendly complex. There is ample visitor parking and extra stalls rent for approx. $13 per mos. This complex also has it's own picnic area, is pet friendly and is also walking distance to Bannerman Elementary School. This 4 bedroom end unit has been substantially renovated. The kitchen alone was approx. $18,000 and features all new appliances, light fixtures, gorgeous style stone counter tops,facets, plus more. Both the bathrooms have also been substantially renovated with a low flush toilet, deep soaker tub and ceramic flooring. All appliances stay including the higher end whirlpool washer and dryer. Other features of this home include a storage/cold room, fully finished basement,newer windows, newer doors both inside and outside, light fixtures, newer furnace and H2O tank, laminate flooring throughout. This end unit offers it's own private view with a private easy maintainace back yard.
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Tuesday, May 4, 2010

WOW! New property listed in Zone 51, Edmonton

Property Photo: 425 Evergreen AVE in EDMONTON
Audrey & Mike have listed a new property at 425 Evergreen AVE in EDMONTON.
Welcome to the affordable Cadillac. This 3 bedroom modular home has an unique layout with a very large sunkin ensuite featuring a luxury two person jaccuzzi tub just off of the spacious master bedroom. The bright sunny oak kitchen offers a skylite, ample cupboard and counter space for any chef and plenty of dining area for all your dinner parties. Features of this home include french doors, vaulted ceilings in the large livingroom, with a built in entertainment unit. This modualar is in a great location,with an oversized deck, large lot and is walking distance to the playground and all the appliances stay. This home can be your for only $99,900.
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Monday, May 3, 2010

RE/MAX Awards $12,000 in Bursaries to High School Graduates

Congrates to the new recipients for these bursaries.
 
Kelowna, BC – Twenty four students from Western Canada were recently notified that they will be individually presented with a RE/MAX 2010 ‘Quest for Excellence’ bursary, valued at $500, during their school commencement ceremonies.

The annual RE/MAX Quest for Excellence program encourages high school graduating students from British Columbia, Alberta, Saskatchewan, Manitoba, North West and Yukon Territories to write an essay based on their personal experience in one of six topics – Leadership, Sports, Technology & Trades, Performing Arts, Fine Arts and Community Service.

“Over 1300 entries were received this year from students across Western Canada,” says Marie Sheppy, Senior Coordinator, Corporate Affairs, RE/MAX of Western Canada. “We are thrilled to be able to assist these young adults further their education.”

“RE/MAX believes in giving back to our communities, we are proud to play a small part to help students reach their educational goals”, says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. “The qualities of essays received are a clear indication that these future leaders will be successful in their chosen field.”

Quest for Excellence Award Winners are as follows:
 

Leadership Category – Matthew Heesing, Fort Saskatchewan, AB; Melissa Ruchogeza, Calgary, AB; Andrea Marshall, Lake Country, BC; Corbin Smith, Abbotsford, BC.

Sports Category – Harry Hothi, Edmonton, AB; Travis Vugteveen, Chilliwack, BC; Kelsa Gobeil, Westbank, BC; Andrea Bain, Victoria, BC.

Technology & Trades Category – Matthew Thompson, Castlegar, BC; Vladimir Zachata, Richmond, BC; Jamie Law, Winnipeg, MB; Anna Leong, Burnaby, BC.

Performing Arts Category – Kathleen Ennis, Langley, BC; Wanmeng Zhou, Delta, BC; Joseph Hoffman, Fort McMurray, AB; Audrey Kwan, North Vancouver, BC.

Fine Arts Category – Meret Shaker, Winnipeg, MB; Katrina Boisclair, Kamloops, BC; Catherine Zulver, Delta, BC; Robyn Lacy, Penticton, BC.

Community Service Category – Tripti Prasad, Winnipeg, MB; Jordan Yeo, Coquitlam, BC; Sabrina Pannu, Surrey, BC; Lisa Choi, White Rock, BC.
 

RE/MAX is Canada's leading real estate organization with over 17,500 sales associates situated throughout its more than 680 independently-owned and operated offices across the country.  The RE/MAX franchise network, now in its 37th year, is a global real estate system operating in more than 70 countries.  Over 6,500 independently-owned offices engage over 115,000 member sales associates who lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral, and asset management.  For more information, visit: www.remax.ca.

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Sunday, May 2, 2010

Mortgage News

Special thanks from Natelie Wellings from http://www.youredmontonmortgage.com

Posted: 30 Apr 2010 10:31 AM PDT

It is true. The only constant is change! The mortgage world has endured a slew of government imposed changes in the last little while. Here is a brief update of the recent changes in the mortgage world:

1. RATE INCREASES ON FIXED RATE MORTGAGES: we’ve received three significant increases over the last month, increasing the five year fixed rate by almost 1%. This is an additional squeeze on the pocketbook for anyone wishing to enter the housing market. It’s really important to get a pre-approval completed if you are in the market for a home or a new mortgage as most lenders will lock in a rate for 120 days. You’ll be protected from any further rate increases within that time period. Of course, if the rates go down you’ll get the lower rate as well. A pre-approval only takes about 10 minutes to complete so it’s definitely worth your time to get one done. Please feel free to phone or email me to get started on your pre-approval!

2. GOVERNMENT CHANGES TO THE QUALIFYING RATE: What does this mean? If you are taking out a mortgage and are choosing a term of less than five years or a variable rate you’ll now have to qualify for the mortgage using the Bank of Canada benchmark rate (currently 6.10%). If you choose a five year, fixed term you’ll only have to qualify at the contract rate (the rate you are actually paying). This means the vast majority of people will likely choose a 5 year fixed ratemortgage. To be honest, I don’t really think this is much of a concern as most borrowers choose a five year term anyway. However, if you have your heart set on a variable rate it’s definitely tougher to qualify.

3. REFINANCING YOUR HOME: If you’d like to access some of the equity you’ve built up in your home for some other purpose (buying RRSP’s, purchasing a vacation property, consolidating debt etc) you’ll now be restricted to 90% of your home’s equity. The previous rules allowed you to refinance up to 95% of the value of your home. Again, I personally don’t think this is a big deal. It’s actually a good change and will force borrowers to be a bit more conservative with their borrowing.

4. INCREASED DOWN PAYMENTS FOR RENTAL PROPERTY: If you purchase, port or refinance a rental property you’ll now need at least 20% equity in the property compared to the previous underwriting guideline of 5%. I think this move will hopefully prevent unsophisticated borrowers from entering the revenue property market. Owning a revenue property is a big step and I’m sure borrowers will take it more seriously when they have to put at least 20% into the property.

Please feel free to contact me should you have any questions, concerns or require a pre-approval or mortgage assistance!
 
Once again, thank you Natelie Wellings for your thoughfull insight on mortgages.
 
Mike
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