"We have experienced strong sales through the third quarter"

Resale housing prices bounce back up with strong September sales

Edmonton, October 5, 2009: Although sales were not at record levels in September, they compared favorably with sales levels last year and settled in for the third best September ever. Only sales in September 2006 of 1,844 residential units and last September (1,729) were better than the 1,704 sales pegged last month.

“We have experienced strong sales through the third quarter,” said Charlie Ponde, president of the REALTORS® Association of Edmonton. “At the end of the first quarter YTD sales were down over 21%, and after six months they were up almost 2%. The last three months have had strong buyer demand and year-to-date sales are up 5.3% over the same period last year.”

The strong sales also boosted prices of both single family and condominium properties. Prices dipped slightly in August after showing steady gains all year but bounced back to mid-summer levels in September. The average price of a single family dwelling was $371,947 and condos were priced on average at $245,546 (both up 1.4% over August prices). SFD prices are up over $20,000 from where they were on New Years Day.

Higher prices have not resulted in greater listing activity. 2,564 homes were listed in September resulting in a 66% sales-to-listing ratio as compared to September 2008 with over 3,100 listings and a 55% S/L ratio. The slower listing activity dropped inventory to 6,032 from 6,445 units last month but there is still almost four months of inventory at present sales volumes.

Duplex and row house properties sold on average for $299,964 and the combined Average Residential Price was $327,235 in September; up 2% from September 2008.

“Homes are selling slightly faster than last month and much faster than last year at this time,” said Ponde. “I expect that sales in this market will show continued strength through the fall and early winter.” The average days-on-market was 44 in September; down four days from August.

Excerpts From...Canadian housing markets buck recession and trend upwards, says RE/MAX

RBC, Scotiabank climb ranks as U. S. banks fall

Canada's financial institutions look good as their American counterparts stumble

Open House in La Perle on Sunday

La Perle, Edmonton  -  We invite everyone to visit our open house at 9549 180A Street on March 22 from 2:00 PM to 4:00 PM.

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Duplex For Sale in La Perle

Quality Renovation.

• 1,041 sq. ft., 2 bath, 3 bdrm duplex "1/2 Duplex" - MLS® $249,900 - Under 250!!!

La Perle, Edmonton  -  THIS IS THE NICEST HOME UNDER $250,000 IN THE WEST END! It is almost all redone... Flooring, paint, lighting, moldings, bathrooms, appliances, windows and even the furnace and H2O tank are newer. This beautiful home is modern and is super trendy. Enter the main floor and you are greeted by a large foyer, just off that is a dinning nook, updated kitchen and 2pce bath. The home is bright and open and natural sunlight floods the home all day long. Down a few steps you can relax in the living room that features a wood burning fireplace with stone face, computer nook and views of either the dining nook or your huge backyard! The uppers levels are home to the trendy 4pce bath, and 3 more bedrooms, all very spacious. The master bed is large and has an abundance of windows and closet space. It just gets better outside as this home has one of the largest backyards - it is fenced, has a shed and fire pit! This is perfect for the buyer who wants a truly unique and move in ready home - Dont miss out!

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First-time buyers driving force in Canada’s residential real estate markets, says RE/MAX

Kelowna, BC (March 11, 2009) --   A report released today by RE/MAX confirms that entry-level purchasers are now the engine driving home-buying activity in almost every major centre in Canada.

The 2009 RE/MAX First-Time Buyers Report, highlighting first-time buying activity in 32 residential housing markets across Canada, found that improved affordability is prompting many first-time buyers to get off the fence, out of the rental, and into the market.   While a sense of caution still prevails, more and more first-timers are finding it hard to pass up the chance to become homeowners in today’s buyer-centric real estate climate. Increased inventory and longer days on market coupled with the lowest lending rates ever are presenting opportunities that have not been seen in almost a decade.

“Canadian markets from coast-to-coast are ripe for a reawakening as the weather warms up,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada.  “First-time buyers seem more acclimatized to economic factors, even though the barrage of bad news continues to flow.   Those who are secure in their jobs, have accumulated good down payments, and have acceptable credit ratings are continuing to venture forward, undeterred by tighter lending criteria.”

Although the year got off to a slow start, February home sales were well ahead of those reported in January.  The upward trending is expected to continue as more and more first-time buyers enter the market in the weeks ahead.  The flurry of activity in the lower-end may also serve to kick-start sales in the mid-to-upper end of the market, which have, as expected, been relatively sluggish in recent months. While inventory and days on market was up virtually across the board, it’s noteworthy that several markets reported tighter conditions in the lower end of the market, where demand and buyer activity remains quite healthy.

“While the current economic crisis has caused some first-time buyers to either take it slowly or apply the brakes, home ownership remains a top priority for those who are able to take advantage of reduced carrying costs, rock bottom interest rates and lower house prices,” explains Michael Polzler, Executive Vice President and Regional Director, RE/MAX Ontario-Atlantic Canada.  “Affordability has greatly improved and buyers are firmly in the drivers’ seat in just about every market we surveyed. The new reality is that homeownership remains well within reach for most first-time buyers.”

According to the RE/MAX Report, buyers are clearly in control in most Canadian markets.  Of the 32 markets surveyed, 22 (69 per cent) remain firmly in buyer’s market territory. These include Vancouver, Surrey, Port Coquitlam, Chilliwack, Kelowna, Victoria, Edmonton, Calgary, Saskatoon, Regina, Ottawa, Peterborough, London-St. Thomas, Niagara Falls, Mississauga, Metro Toronto, Northern GTA, Kingston, Windsor, Hamilton-Burlington, Barrie, and Halifax-Dartmouth.  Ten (31 per cent) report more balanced conditions:  Winnipeg, Kitchener-Waterloo, Sudbury, North Bay, St. Catharines, Saint John, Moncton, Fredericton, St. John’s, and Charlottetown.

Forty per cent of markets offered single-detached homes priced under $200,000, including Charlottetown, Saint John, Moncton, Peterborough, Niagara Falls, St. Catharines, Windsor, Fredericton, Halifax-Dartmouth, London, North Bay, Kingston, Saskatoon and Winnipeg.  More than two-thirds (71 per cent) offered condominiums starting under $200,000, (Moncton, Fredericton, Halifax-Dartmouth, Sudbury, North Bay, Peterborough, Mississauga, Burlington, Niagara Falls, St. Catharines, Kitchener-Waterloo, London, Windsor, Surrey, Chilliwack, Victoria, Kelowna, Edmonton, Saskatoon, Regina, and Winnipeg).

The most affordable markets for detached homes, based on starting prices are: Moncton ($115,000), Charlottetown ($120,000), and Saint John ($130,000) in Eastern Canada; Windsor ($75,000), Niagara Falls ($119,000), and St. Catharines ($125,000) in Ontario; Winnipeg ($185,000), Saskatoon ($190,000), and Regina ($210,000) in Western Canada.

RE/MAX is Canada’s leading real estate organization with over 17,000 sales associates situated throughout its more than 670 independently-owned and operated offices across the country.  The RE/MAX franchise network, now in its 36^th year, is a global real estate system operating in more than 70 countries.  Over 6,800 independently-owned offices engage nearly 100,000 member sales associates who lead the industry in professional designations, experience and production while providing real estate services in resident, commercial, referral, and asset management.  For more information, visit: www.remax.ca [1]

March - Edmonton Real Estate Update

Real estate market prime for first-time buyers; Many incentives for new homeowners

They're back--but if they're not, they should be. A few years ago, before diminishing affordability sent them scurrying to the sidelines to continue to share accommodation or hang out at their parents' homes, first-time buyers were a force to be reckoned with. First time buyers are back in the game, if they want to be. Sellers are having to bring their asking prices back to more realistic levels to attract an anxious, but cautious, pool of buyers who know they now have more say over what happens in the marketplace. Mortgage rates and housing prices are trending down--at least for the time being. That should be good news for those looking at home ownership for the first time. Another factor to consider is that "because this is not the market to be flipping homes, people should be buying with the intention of living in them for a few years," he says. "Buy them because they can be homes, not a short-term investment."

**Source: The Calgary Herald – Saturday, February 28, 2009

Suite Deal for Investors

Mature neighborhoods in Edmonton will being seeing new growth and development. In efforts to expand the number of affordable housing suites, while utilizing existing infrastructure in the city of Edmonton, a bylaw has been passed to allow secondary suites, garage suites and garden suites.  This project is put forward as an incentive to homeowners and prospective homebuyers who wish to subsidize their mortgage with a tenant, or make room for family members to reside with them. Rules and restrictions apply—to protect the prospective tenants and to regulate building locations for the suites.

Property Virigin? Get Paid to Purchase.

First-time buyers who purchase a qualifying home may be entitled to claim a new non-refundable tax credit of $5,000 and worth up to $750 ($5,000 × 15%). The rules; neither the buyer nor his or her spouse or common-law partner can have owned and lived in another home in the calendar year of buying this home or in any of the four preceding calendar years.

As of January 2009 first-time home buyers can withdraw tax-free from a Registered Retirement Savings Plan (RRSP) to purchase or build a new home to $25,000 (up from $20,000).

Apartment For Sale in Rutherford

Truely a Must See. Upgraded Everything!

• 1,150 sq. ft., 2 bath, 2 bdrm apartment "2 Bedroom Condo" - MLS® $299,999 - Brand New. Never Lived In

Rutherford, Edmonton  -  TOP FLOOR, 2 BEDROOM, 2 BATHROOM CONDO LOADED WITH UPGRADES! This 1150 sqft home features 9ft ceilings, in suite laundry, storage, bright windows, and a huge "L" shaped balcony that overlooks the courtyard. The condo boasts upgrades which include dark hardwood floors and modern ceramic tiles in the kitchen and bathrooms. The kitchen is completely upgraded with an over sized island with pot drawers, bright white cabinets, black appliances, corner pantry, tiled back splash and GRANITE counter tops. The kitchen is open to the dining room and family room which features a corner gas fireplace and views of your large balcony. Both bedrooms are generous in size and the master boasts a walk thru closet and a 4pce en suite. This unit is also air conditioned for those hot summer days! As a bonus their is additional storage in front of the underground parking stall. Building amenities include a car wash, party room, exercise room, and guest suite. Great building in a great neighborhood!

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Bungalow For Sale in West Jasper Place

• 720 sq. ft., 2 bath, 3 bdrm bungalow - MLS® $209,900

West Jasper Place, Edmonton  -  Handy-man special! With a little TLC, this bungalow featuring 3 bedrooms, 2 bathrooms, a large living room and a single detached garage can be the best deal in the area! Suite in the basement. Owner motivated. Great INFILL property! Large yard, dont miss out!

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Open House in Rutherford on Sunday

Rutherford, Edmonton  -  We invite everyone to visit our open house at 1131 113th Street SW, Edmonton AB on March 15 from 2:00 PM to 4:00 PM.

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2 Story For Sale in Rutherford

Immaculate Home!!

• 1,511 sq. ft., 3 bath, 3 bdrm 2 story - MLS® $394,900

Rutherford, Edmonton  -  THIS HOME IS IN AMAZING CONDITION!! Looking for something special? Look no further then this 2 storey home located on a beatiful PIE LOT! Enter the main floor and you are greeted by soaring ceilings and a bright and open floor plan. Highlights of the main floor consist of a large family room with gas fireplace, eating nook, 2pce bath, main floor laundry and a kitchen with stainless steel appliances. Upstairs boasts 3 bedrooms and 2 baths... all bedrooms are bright and spacious. The master bed features a 4pce en suite with corner jetted tub and separate shower. The basement is untouched, it has RIDP and ready for the new owners touch. You will fall in love with the backyard! It is huge and boasts a TREX deck (11.5x15) paving stone patio with pergola (16x16) gas line for the bbq, storage shed (10x10) and an underground sprinkler system! All this and a quiet cul de sac location - Do not miss out!

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February Real Estate Update - Dispelling the Doom & Gloom --

Everywhere we turn we are surrounded by the media forecasting that the sky is falling. This isn’t comforting news when you are considering making a very important decision in your life; buying or selling your home. With the constant exposure to the dreary forecast, we must take a moment to consider how fortunate we truly are. Alberta is in great financial shape to weather the storm.

As one year closes and another begins, we can be comforted by a strong Albertan economy. As usual, oil is a main topic of discussion these days; however, oil is not the only source of sustenance in our economy. We have other natural resources such as coal and a large agricultural industry that support us as well. 

Recently, Kirsten and I attended the Canadian housing forecast for 2009. The message that was delivered from the conference was that Alberta, and particularly Edmonton, were the most likely to come out of the ‘doom and gloom’ on top. The forecast calls for small losses in the beginning half of 2009 but an adjustment by the later half of the year. Alberta is still forecasted to have a high percentage of new immigrants into the province; particularly from the eastern region of the country where it is predicted to be hit the hardest.

First time buyers are embarking on great opportunities right now; interest rates are at record lows, entry level homes have become priced within sight and most importantly, buyers can take a little bit more time to find the ‘right’ home.

Sellers--don’t lose hope. In today’s market, amidst the ‘doom and gloom,’ there are still approximately 30 housing deals made every day. Every home that is well priced will find a new owner. Showcasing the value in each and every property is necessary to entice a buyer to put pen to paper. Internet marketing is essential to getting buyers into homes. With the abundance of technology, buyers typically begin their search online; viewing photos, comparing prices and reading descriptions. Today, sellers have a more challenging process; however, properly priced homes are still selling.

Bungalow For Sale in Haddow

Upgraded Adult Bungalow

• 1,742 sq. ft., 2 bath, 2 bdrm bungalow "Beautiful Property" - MLS® $519,900

Haddow, Edmonton  -  BEAUTIFUL 2 BEDROOM PLUS DEN, 1742 SQFT HALF DUPLEX BUNGALOW! Located in the highly sought after complex this home may be the nicest adult bungalow in the south west. The main floor is bright and open and features 9 ft ceilings, dark hardwood flooring, pot lighting, large windows (hunter douglas window coverings), central vac and so much more! The large 2nd bedroom and den boasts upgraded carpet and bright windows. The kitchen is a chefs dream! It boasts staggered maple cabinets, under cabinet lighting, High end stainless steel appliances, corner pantry, granite counter tops and a huge curved eat up island. Just off the kitchen is a dining area and living room with gas fireplace and in-laid carpet. The master bedroom is spacious and features a 4pce en suite with jetted tub, stand up shower, large walk in closet. The main floor is rounded off by a 3pce bath and laundry room. The basement is unspoiled and features 9ft ceilings! Outside boasts a deck and paving stone patio with a gas bbq hook up.

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2 Story For Sale in Brintnell

The Perfect Starter Home

• 1,347 sq. ft., 3 bath, 3 bdrm 2 story - MLS® $354,900

Brintnell, Edmonton  -  THIS IS THE PERFECT STARTER HOME - 1350 SQFT OF UPGRADED LIVING, SOUTH FACING BACKYARD BACKING ONTO PARK, DOUBLE DETACHED GARAGE, AND A HIGH END KITCHEN! This home is move in ready and is in better then new condition. This beautiful 2 storey home is located in a quiet cul de sac in a great community. Enter the main floor and you are greeted by a large family room featuring bright windows and warm colors. Just around the corner you will find a 2 pce bath, eating nook and a gorgeous kitchen. The kitchen boasts modern tile flooring, subway tile backs plash, maple cabinets, corner pantry, and high end stainless steel appliances. Upstairs features 3 bedrooms and 2 bathrooms. All bedrooms are generous in size and the master boasts bright windows, a walk in closet and a 4pce en suite. (All closets feature closet organizers) You will love you're fully landscaped and fenced yard that features a 20x10 deck! This home offers everything - Do not miss out.

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2 Story For Sale in Rutherford

Pacesetter Master Built

• 2,236 sq. ft., 3 bath, 3 bdrm 2 story - MLS® $449,900

Rutherford, Edmonton  -  THIS 2236 SQFT PACESETTER BUILT HOME IS READY FOR IMMEDIATE POSSESSION AND IS IN PERFECT CONDITION! This is the master series and it boast 6" baseboards, hardwood flooring, upgraded hardware, doors and moldings. The main floor features an open concept with an abundance of bright windows. The large foyer opens up to the huge dining room and living room, that boasts a fire place. The kitchen has maple cabinetry, black appliances, corner pantry and an eat up island. Just off the kitchen is the eating nook that looks out to the SOUTH FACING BACKYARD. The luxurious continue upstairs, boasting a bonus room with vaulted ceilings and large windows. There are 2 more bedrooms and 2 bathrooms as well. The master bedroom features a walk in closet and 4 pce en suite. The backyard has a beautiful deck with built in seating, is fully landscaped and is fenced. This home has great value for its square footage.

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