Real Estate Blog

Residential sales reported through the MLS® System of the Central Alberta REALTORS® Association numbered 340 units in September 2018. This was down a slightly 2.3% (eight sales) from September 2017.

On a year-to-date basis, home sales totalled 3,146 units over the first nine months of the year. This was an increase of 3.2% from the same period in 2017 and stood above 2016 as well.

Residential sales activity in all of Alberta, by comparison, was down 9% in September 2018 compared to September 2017.

There were 695 new residential listings in September 2018. This was down 8.7% on a year-over-year basis.

Active residential listings numbered 4,327 units at the end of September. This was up 3.4% from the end of August 2017 and marked the highest

97 Views, 0 Comments

 

With no change in the economic climate, Sylvan Lake’s sales activity totaled just 22 units in October, bringing the total number of homes sold to 261 year to date. The average selling price has jumped to $312,386 an 9 per cent increase from just last month. This merely means more expensive listings have sold in October compared with those same number of sales (22) in September.

If possible, potential buyers may want to take advantage of the market conditions. However, some face difficulties with mortgage restrictions or failed attempts at selling their existing home. Accurate & strategic pricing is key to over coming an extended listing. A seller should not be discouraged, & rather be encouraged by the advantage of also purchasing within such

8 Views, 0 Comments

 

With no change in the economic climate, Red Deer’s sales activity totaled 107 units in October, a 16 per cent decline over the previous year & well below long-term averages. There was a pullback in sales across all product types, leaving supply levels high, resulting in persistent oversupply & price reductions. The average selling price comes in at just $307,587 an 10 per cent decline over the previous year.

If possible, potential buyers may want to take advantage of the market conditions. However, some face difficulties with mortgage restrictions or failed attempts at selling their existing home. Accurate & strategic pricing is key to over coming an extended listing. A seller should not be discouraged, & rather be encouraged by the advantage

38 Views, 0 Comments

All private businesses across Canada, including residential landlords and real estate brokerages, will be impacted by the latest changes to the Personal Information Protection and Electronic Documents Act (PIPEDA) beginning Nov. 1. PIPEDA is Canada’s federal private sector privacy law that sets out the ground rules for how businesses, including landlords, must handle personal information in the course of their commercial activity. PIPEDA was significantly amended when the The Digital Privacy Act received Royal Assent in June 2015.  

Under PIPEDA, landlords must:

  • Obtain a tenant’s consent to collect, use or disclose a person’s personal information.
  • Identify the reasons for collecting the personal information before collection and only ask for
113 Views, 0 Comments

 

With no change in the economic climate, Sylvan Lake’s sales activity totaled just 22 units in September, bringing the total number of homes sold to 239 year to date, a mirror image of 2017. There was a pullback in sales across all product types, leaving supply levels high, resulting in persistent oversupply & price reductions. The average selling price comes in at just $286,727 an 11 per cent decline over the previous year.

Potential buyers may want to take advantage of the market conditions. However, some face difficulties selling their existing home based on their expectations, preventing them from purchasing something else & moving on. It looks as if the buyer's advantage will continue for the remainder of this season. Let's just have a

727 Views, 0 Comments

 

With no change in the economic climate, Red Deer’s sales activity totaled 106 units in September, a 16 per cent decline over the previous year & well below long-term averages. There was a pullback in sales across all product types, leaving supply levels high, resulting in persistent oversupply & price reductions. The average selling price comes in at just $309,304 an 10 per cent decline over the previous year.

Potential buyers may want to take advantage of the market conditions. However, some face difficulties selling their existing home based on their expectations, preventing them from purchasing something else & moving on. It looks as if the buyer's advantage will continue for the remainder of this season. Let's just have a Happy

109 Views, 0 Comments

 

The recent court decision against the Transmountain Pipeline has re-raised frustration levels & likely a whole lot of anger from many Albertans. It's a significant blow not only to the province, it's a direct punch in the face to the entire country.

As for Sylvan Lake real estate the number of sales has increased nicely for the month of August. However, the number of listings seems to also be on the rise, likely those trying to sell during the final rush after the summer months. Real estate activity seems to be rising as children return to school & the weather has began to cool. Families looking for larger homes may now have the time to get out there, find their new homes & write some offers. Sellers who have been patiently waiting all summer

80 Views, 0 Comments

 

The recent court decision against the Transmountain Pipeline has re-raised frustration levels & likely a whole lot of anger from many Albertans. It's a significant blow not only to the province, it's a direct punch in the face to the entire country.

As for Red Deer real estate, the average selling price has increased nicely for the end of summer. However, the number of listings seems to also be on the rise, likely those trying to sell during the final rush after the summer months. Real estate activity seems to be rising as children return to school & the weather has began to cool. Families looking for larger homes may now have the time to get out there, find their new homes & write some offers. Sellers who have been patiently waiting all

102 Views, 0 Comments

By Jamie Wiebe | Jan 19, 2017   kitchen-reno-takelaughingmango/iStock

You've lived in your home for years, and it's time: No more laminate countertops. Say adieu to that oh-so-'70s backsplash. You've got the cash to make it happen, but do you have the time? Given that a kitchen remodel complicates access to the area where you cook your meals, you might be wondering: How long does a kitchen renovation take?

There are two ways to answer that question. One, if you're wondering how long the entire process takes from the moment you start picking out faucets to the day you're sliding a roast into your new Viking oven, the answer is about six months.

And yes, six months may seem like forever, but keep in mind that you should still be able

89 Views, 0 Comments

 

There are several big picture issues that are influencing the real estate market in Alberta, positive and negative.  On the positive side, oil prices are up again and there appears to be some good news on the pipeline front – Kinder Morgan still in progress rather than stopped completely, Enbridge’s Line 9 has received further approvals in the U.S (although there are still some regulatory hurdles) and even the long-delayed Keystone appears to be making headway.  And, for the first time in three years, Alberta experienced a positive net interprovincial population increase in the first quarter of 2018.

On the negative side, the escalating trade war between Canada and the U.S. is causing some real financial stress for some, but more importantly,

70 Views, 0 Comments