Archive for Media Reports
Edmonton Housing Market Heating Up!
As owner of a busy brokerage I can tell you that the market is hopping, but don’t just take my word for it! Read what Todd Hirsch, senior economist for ATB Financial, has to say in his latest report! “Something set a spark in Edmonton’s real estate market last month (July/09). Residential properties are really starting to move!”
Contributed by Kathy Schmidt, Broker Owner for Schmidt Realty Group Inc.
June 2009 was the third busiest month in Edmonton real estate!
“In the Edmonton housing market, it seems that the recession is over.” stated Charlie Ponde, president of the Realtor Association of Edmonton. We agree with Charlie! Schmidt Realty Group set our own record with our busiest month ever! Take a look at our listings and read testimonials from happy clients in our July 2009 Newsletter.
In This Issue:
June statistics for the Edmonton housing market.
“Edible” home staging tip!
Testimonials from happy buyers and sellers.
FREE photocopy and fax service.
PLUS help fund a house with a click of your mouse! Between now and August 31st, Schmidt Realty Group will donate $10 to Habitat for Humanity for every comment received by visitors to our website!
Click here to receive this newsletter automatically via email!
Contributed by Kathy Schmidt, Broker Owner of Schmidt Realty Group Inc.
Edmonton Housing Market Experiences Record Breaking Sales in June!
Only two months on record (May 2006 and May 2007) had more sales than June 2009!- The Realtor Association of Edmonton reported that homes sold in an average of just 49 days in June, while SCHMIDT lisitngs sold in just 18 days on average!
- Inventory took a leap down! There were only 6,785 homes for sale on June 30th. This is the first month-end since January 2009 with less than 7,000 homes for sale.
- There is now less than a 3 month supply of properties for sale in the Edmonton area.
Read our Market Report and the Realtor Association of Edmonton News Release for more details.
Alberta Remains Best Place for Real Estate Investors
When it comes to the housing market, E-town still rules! So says Don Campbell, president of REIN, the Real Estate Investment Network. Don has earned a reputation as a trustworthy source of advice for anyone interested in Alberta real estate – when Mr Campbell speaks, people tend to listen! Not only is he bullish on Alberta real estate, he goes a step further to state that Edmonton remains the best place to buy real estate in all of North America! That’s quite a claim, especially in light of the rise and fall and rise again of oil prices!
“Edmonton has the potential, it has the job growth. We know that when the recovery comes … Edmonton is going to be able to provide fuel and fertilizer, which is exactly what the world is looking for. So that’s a pretty good basis for job growth.”
Don is also not wearing rose-coloured glasses. He believes “real estate markets are likely to remain choppy for then next 18 months” and doesn’t forecast a repeat performance of the dramatic price increases we saw prior to the recession.
What I read into Mr Campbell’s comments is that now is a safe and smart time to make a purchase. While there may be some volatility in prices in the short term, 2010 will bring a solid turnaround in real estate. Wouldn’t it be nice to look back and be glad you listened to the trend gurus and purchased at today’s prices?
Contributed by Kathy Schmidt, Broker Owner of Schmidt Realty Group
Edmonton Homeowners Warned of “Shady” Renovators!
“Beware of itinerant renovators!” That’s the advice from the Alberta government. Apparently unlicensed individuals come to our province every spring and then pass themselves off as legitimate contractors. Homeowners may be attracted by their reduced rates only to discover the low price equalled low quality work! Sometimes fixing the problem costs more than hiring a professional in the first place. As with any other professional, remember to ask for references, a written estimate and the contractor’s license as well as proof of Workman’s Compensation coverage.
The Home Renovation Tax Credit may unfortunately bring out more of these unscrupulous individuals, so do yourself a favour, and do your homework before you hire. And if you’re wondering whether your planned renovation project will add value and marketability to your home, call on SCHMIDT Realty Group for a free homeowner consultation anytime!
Contrivbuted by Kathy Schmidt, Broker Owner of Schmidt Realty Group Inc.
ATB Financial Reports US Housing Market Looking Up!
The National Post recently reported that Canadian “Housing starts rose more than expected May, with increased construction in both single and multiple dwelling sectors.” And even more encouraging, the number of housing starts is anticipated to keep improving throughout 2009 and in the next several years!
Not only is the sun beginning to shine on the housing market in Canada, but the sun is “sneaking through the clouds” in the US housing market too! According to ATB Financial Economist, Dan Sumner, “US housing starts jumped by 17.2% in May 2009″. This puts home starts well above the number anticipated. The ATB FINANCIAL Daily Economic Comment further states that “US home prices have stopped falling… As new residential construction begins to come alive it may be an indication the overall US economy is starting to grow again.”
The dramatic downturn in the US housing market was a key factor that precipitated the recession, and it appears it is slowly starting to come back to normal levels. This is good news for American homeowners and the rest of the world as we are all intimately connected economically. Hallelujah!
Contributed by Kathy Schmidt, Broker Owner of Schmidt Realty Group Inc.
LRT Expansion Will Increase Property Values!
So says real estate researcher, Don Campbell. According to Campbell, the price of homes near LRT stations will improve 10% to 20% more than other areas of the city. He also suggests that homes near extensions to Anthony Henday Drive will increase relatively more in value. The first neighbourhoods to benefit are Belgravia, Parkallen, McKernan, Twin Brooks, Skyrattler, Ermineskin and Blue Quill. These areas will see increases in value thanks to both the LRT expansion and ring-road access. With Southgate and Century Park stations scheduled for opening in 2010 the neighbourhoods of Pleasantview and Lendrum will be positively affected. Glastonbury, Aldergrove, Thorncliff and Belmead are areas which will reap the rewards of the expanded Anthony Henday.
Contributed by Kathy Schmidt, Broker Owner of Schmidt Realty Group Inc.
Edmonton – a great place to ride out a sluggish economy
So says Mike Percy, dean of the Faculty of Business at the University of Alberta. According to a recent article in the Edmonton Journal, if you live in Alberta “you’re living in the right place to ride out the recession.” Percy says there will likely be more impact in the long-term on southern Alberta than the north due to Calgary’s large number of head offices and investment bankers who focus mainly on the energy patch. And he further states that Red Deer may take the smallest hit of all from the current economic slowdown.
Percy contends that many of the oil projects are more closely tied to the price of oil five or ten years from now rather than the price of oil today. And he fully expects the price of oil to rebound significantly. That sounds like a promising economic future for Alberta to me!
So the next time you’re feeling a bit annoyed at the rising cost at the pump, think of it as a small price to pay for the long-term economic strengh of our province. Personally I am very grateful to live in the the best place in the world right now!
Contributed by Kathy Schmidt, Broker Owner of Schmidt Realty Group
Condo Life Thriving in Downtown Edmonton
It’s been said that Edmonton is small enough that you have to be nice to everybody! I personally think we have the best of both worlds – a city small enough that we run into people we know regularly, and a city large enough to boast a world-class concert hall and a reputation as a well-respected center for medical research. As we grow in numbers, some of our new “imports” are flocking to the downtown core to enjoy the urban lifestyle. We have had clients from cities such as Montreal and Toronto happily surprised to find funky lofts in restored warehouses as well as brand new high-rise residences with gorgeous river views! And local Edmontonians seeking a “greener” lifestyle find that downtown living suits them very well as they can easily walk to work or hop on public transit! Either way, downtown condo living is increasingly popular. Prices vary as much as styles of home, with everything from affordable bachelor units to luxury penthouses. We currently have a gorgeous modern unit offered for sale right in the heart of downtown, and there is a wide variety of other properties to choose from.
Another recent development which illustratrates this trend is the announcement of a downtown Edmonton community league! With approximately 200 members, this group is committed to creating a sense of community among downtown residents.
Developers expect this lifestyle trend to continue. While some construction has been placed on hold, the long-term outlook for both construction and sales of new units remains bright!
Contributed by Kathy Schmidt, Broker Owner of Schmidt Realty Group Inc
First-Time Buyers are Leaping Back into the Edmonton Real Estate Market
From recent graduates still living at home, to long-term renters, more and more people are deciding that now is the time to make their first real estate purchase! ”Whoever they are, they’re coming back in the marektplace – and if they’re not, they should be!” according to today’s article article by Marty Hope in the Edmonton Journal.
The return of this buyer group could start a positive chain reaction in Edmonton’s real estate market. For example, a first-time buyer who purchases a re-sale home in a mature neighbourhood allows an empty-nester to down-size to that downtown condo they’ve dreamed of! That downtown condo owner might be selling because they need more space, or perhaps a different location closer to work. It can all start with one new qualified purchaser entering the market!
The starter home price range is already the busiest, with over 50% of sales occurring under $300,000. Those homes are also selling the fastest as well! While the average Days On Market (DOM) for March in Edmonton was 56, the average time for a property under $300,000 to sell was only 43 and the median* time to sell in this price range was just 31 days! (*The median is the middle of all sales times for the month - half the sales took more time to sell and half the sales took less time than then median.)
Learn more about the latest trends in Edmonton real estate in our monthly Market Report!
Contributed by Kathy Schmidt, Broker Owner of Schmidt Realty Group Inc.
