Archive for Market News
REALTORS Predict Stable Housing Market for 2010
“Edmonton has a robust economy and consumer confidence is high,”
said Larry Westergard, the new president of the REALTOR Association of Edmonton at the annual Housing Forecast Seminar held recently at the Shaw Conference Centre. “We anticipate sales of about 21,000 units in 2010 which is up 10.5% from the 19,000 residential properties sold in 2009.”
What’s going to happen to HOUSE prices?
The average price in December 2010 is expected to be $385,000
as compared to $367,000 today.
What’s going to happen to CONDO prices?
Buyers can expect to pay $244,000 (on average) for a condominium next year -
about what they would have paid in 2009.
There were just 4,037 residential properties available for sale through the MLS® System at year end and Westergard warned that if inventory figures remain low it could tilt the market in favour of sellers and cause prices to rise higher than expected. On the other hand, if mortgage rates go up it could prevent some potential buyers from entering the market and put downward pressure on prices. Source: Realtor Association of Edmonton Press Release Jan 13 2010
So what does this mean for YOU?
It’s more important than ever to have a REALTOR you can trust in your corner,watching for signs of change in the market and advising you on how to make the smartest decisionin today’s market. Call your friends at Schmidt Realty Group anytime – let us be your real estate resource!
Contributed by Kathy Schmidt, Broker Owner of Schmidt Realty Group Inc.
JANUARY 2010 REAL ESTATE MARKET REPORT
Looking back on 2009… “Strong year-end sales put a crown on a year that started slow but ended big,” Charlie Ponde, president of the REALTORS Association of Edmonton.
Looking ahead to 2010… “The truth is in the trends, and right now the trend is for the Edmonton area market to continue to strengthen,” Kathy Schmidt, Schmidt Realty Group
Learn more in this month’s Market Report. and read the Realtor Association of Edmonton News Release for December 2009 results.
Wondering what your home is worth! Click here to find out!
City of Edmonton delivers Updated Property Assessments!
The City of Edmonton has mailed out revised assessments to all property owners in the city. This information will be used to distribute the city budget among property owners and is based on property values at Juy 1st 2009. Read CBC’s report or watch the news clip.
This report states that prices dropped significantly last year which is true if you compare June 2008 to June 2009 single family average sale prices ($381,384 and $369,859 respectively). However if you compare the average sales price of a single family home at December 2008 with December 2009 there was actually an increase. The average sales price in December 2008 was $351,870 while the average price in December 2009 was $366,761.
Some people mistakenly believe that the value provided by the city accurately reflects their current property value. It’s important to remember that the city has not personally inspected every home and so is unaware of all the differences between homes which might affect the value of your property. If you feel that your property is inappropriately assessed, you have 60 days to appeal with the city. On May 1st the city will send out this year’s tax notices.
If you want a more up-to-date estimate of value for your home, you can get a quick market evaluation via email right here on our site. Just click here and we will provide you with our estimated range of value via email. And if you need a more precise valuation, please contact us via email at Schmidt@WeSellEdmonton.com or by phone at 780-437-2030 to request a FREE On-Site Market Evaluation!
Submitted by Kathy Schmidt, Broker Owner of Schmidt Realty Group Inc.
Happy New Year!
WHERE ARE YOU HEADING IN 2010?
2010 is here and the team at Schmidt Realty Group is raring to go! All signs point to a very busy Edmonton area housing market this spring and we are ready to hit the ground running to help you make a great move. Even if you’re planning on staying where you are, the new year is a great time to take stock of your real estate investments. Do you know what your home is worth right now? What are your housing plans for your kids when they head to university in the next few years? Let us help you put a solid plan in place to ensure your family’s real estate needs are well covered and you maximize your return on investment in your primary residence as well as vacation homes or investment properties. Consider us your real estate resource!
Our team is looking forward to lots of exciting changes this year. We will soon be launching a new service using texting technology to enable buyers to receive property information including photos on their cell phones and will also be introducing video blogs on this site. And stay tuned for news of new team members as well. We’re excited about the year ahead!
All the best to you and yours for a healthy, prosperous and joyous 2010!
Submitted by Kathy Schmidt, Broker Owner of Schmidt Realty Group Inc
Merry Christmas from your Friends at SCHMIDT REALTY GROUP!
‘Tis the season… for snow and shopping, skiing and skating, and sitting by the fire with friends & family. We hope you enjoy everything this wonderful season brings. At SCHMIDT it’s also the season to say thank you! Thank you to all of you who invited us into your homes and into your lives this year. It was a privilege to help you find a great new place to call home.
Click here to view our December newsletter.
It’s in PDF format for easy printing too!
In This Issue:
Play a Christmas Carol Word Scramble 
Check out our new listings and see what’s been selling.
Find out how to share the Christmas spirit with those in need through World Vision.
What’s on your wish list this year??? At SCHMIDT we make wishes come true!
Click here to receive future newsletters automatically via email!
Contributed by Kathy Schmidt, Broker Owner of Schmidt Realty Group Inc.
Strong 2010 Forecast for Canadian Real Estate
At SCHMIDT we have had a busy fall that has continued right up until today! And we believe that the stage is set for a great year in Alberta real estate in 2010. The producers of this video obviously agree… Click here to watch this short report on Canadian real estate.
Submitted by Kathy Schmidt, Broker Owner of Schmidt Realty Group Inc.
Edmonton Inventory of Homes for Sale is Dropping!
According to the Realtor Association of Edmonton daily activity report published today, the number of residential homes for sale is now below 6,000! This is good news for the market and leads me to anticipate a very busy spring next year. Today’s report shows an inventory of just 5,981 homes for sale – this is lower than any month-end inventory number reported by the Realtor Association of Edmonton in over two years! The low inventory point was July 2006 at just 1,856 properties available. This climbed to 4,485 in May 2007 and then leaped up to 6,367 in June and climbed steadily from there to a peak of 11,006 in May 2008.
There were over 3,000 homes added to the market in October 2008 compared to October 2009 so far, where there have been less than 2,000 new listings. Sales in October 2008 were very close to current levels (1,251 Oct 2008 vs 1,269 so far in Oct/09).
This indicates an overall tightening of the market.
Fewer homes are coming up for sale. Buyer activity is good. Inventory is coming down.
SO WHAT DOES THIS MEAN FOR YOU…?
You might want to think about purchasing sooner rather than later…
Got questions? Get answers!
INTERESTED IN BUYING BUT NOT SURE WHERE TO BEGIN?
Attend our free Home Buyer Workshop on November 4th. You will receive priceless information on market conditions and trends, how to choose your realtor, lender, inspector and lawyer, plus the details of the offer process, closing costs, mortgage options and more. Join us for this informative 90 minute session and get your questions answered! There is even a door prize!
Who? Mira Wannous, REALTOR and Yvonne Wilchewski, mortgage broker
What? 90 minutes of straight talk and answers to your questions
When? Wednesday November 4 at 7pm
Where? 145 Whitemud Crossing Shopping Centre, 4211 – 106 Street (please note change of location)
Why? Your home purchase could be the biggest investment of your life!
Click here for more information then email our office at SCHMIDT@WeSellEdmonton.com to register!
Consumer Trends for 2010
This article crossed my desk recently and I thought it might be of interest to many of you. It is a list of consumer trends compiled by an international marketing company. Basically it says what we have always known: consumers are smart and getting smarter. That’s a good thing! At SCHMIDT we are always striving to provide innovative services that really make a difference to our clients, and to provide those services in a user-friendly manner such as our extended offfice hours. Also, working with SCHMIDT means you are part of the “buy local” movement as we are an independent local brokerage. We buy from local businesses whenever possible for everything from office supplies to gifts for our clients. And we continue to address the ongoing trend towards shopping online first by ensuring our properties are easily and realistically viewed on our site with top quality professional photos, and by keeping our blog posts current.
Take a look at the list below and see what YOU think!
MARKETER NEWS | October 5 2009 | Jeromy Lloyd
BBDO Products 2010 Big Trends
1. “Smart is Cool” when it comes to personal finance and recreation.
2. Frugalista Power” will come into full force.
3. Products with longevity will do well. Buying fewer products that last longer is easier on the pocketbook and the landfill.
4. The “Buy Local” movement will grow as people seek to keep local jobs and reduce the carbon costs of transporting goods.
5. The downturn produced “consumer-preneurs” who make money in innovative ways. (For example in some areas) buying solar panels means selling power back to the grid…
6. Being green is good, but saving green is better.
7. Online reputations count for a lot.
8. Communication is instant among consumers who use social media, so brands must be available 24-7 to talk to consumers in real time.
9. 2010 will be a “pro-am world” where professional grade products will find broader use in the consumer sphere. Companies should examine how they can “give power to the people” with higher-tier goods and services.
10. Google-before-you-buy is now part of the purchase cycle.
Contributed by Kathy Schmidt, Broker Owner of Schmidt Realty Group Inc
October 2009 Market Report
How does 2009 stack up so far???
The simple answer is “surprisingly well”! This month’s Market Report compares 2009 sales activity with recent years. Six of the last nine months were actually exceptionally strong compared to other years!
Wondering what your home is worth! Click here to find out…
Read our monthly Market Report.
Read the Realtor Association of Edmonton News Release for September 2009 results.
Contributed by Kathy Schmidt, Broker Owner of Schmidt Realty Group Inc.
