Posts Tagged ‘Edmonton Houses’


Site Update – Daily Property Hotsheet

Monday, April 12th, 2010

This morning we launched a new service, the DAILY PROPERTY HOTSHEET.

This free service provides property and market information for the Edmonton and area neighbourhood of your choice, based on the address of your property.

How does this report differ from other property updates or agent searches or realtor.ca?

1. It provides much more detailed information than you’re going to get through those other sources.

2. The property address is included on EVERY listing sent to you.

3. The information includes information on SOLD property and sale prices

We are very excited about this new service, and hope that you’ll benefit from our efforts in this regard.

Follow this link to start your own DAILY PROPERTY HOTSHEET.

http://www.knock-knock.ca/realty-tools/daily-hotsheet/

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Posted in Market Review Edmonton, Property Update | No Comments »

Housing affordability breaks improving trend

Monday, December 14th, 2009

In a report published November 25, 2009 RBC Economics Research revealed that the 18 month long improvement in Canadian housing affordability came to an end in the third quarter of 2009. Despite this reversal, homes are still much more affordable than they were a year ago and, nationally, affordability is in line with levels seen in 2006 when the housing market was shifting into high gear.
 
The deterioration in housing affordability was largely due to slight increases in key mortgage rates as well as gains in property values.
 
Sales reach historic high
 
By October 2009, the number of homes sold through the Multiple Listing Service in Canada had not only recovered the ground lost during the downturn, but had climbed an astonishing 74% since January to reach a historic high. As strong demand has outpaced the supply of homes for sale, market conditions have tightened.
 
In some metropolitan markets we are seeing evidence of bidding wars reappearing, however the rise in the cost of homeownership overall in Canada has been modest in the third quarter.
 
A sign to act?
 
What should this mean to Canadians? For people who have been timing their entry into the housing market, or for those looking to upgrade their homes, this reversal of trend may be a sign to act. With interest rates at near record lows, now more than ever, prospective homebuyers should speak to a Mortgage Specialist so they can feel confident about buying a home that they not only love, but one they can afford.  In addition, by getting pre-approved, prospective homebuyers can shop with confidence when looking at homes that are within their budget.
 
RBC publishes free research information about housing, including pricing trends by province and city, in the RBC Economics Housing Trends and Affordability Report. It’s easy to stay informed. Register at www.rbc.com/economics for automatic email delivery of new reports.

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Posted in Buying Edmonton Real Estate | No Comments »

Real Estate Market Affecting Olympics?

Thursday, October 15th, 2009

Here’s a neat article I found about the city of Vancouver’s plans for their real estate; specifically the Olympic Village. Apparently they have included it’s sale value in the profit/loss margins for the Olympics. Interesting…

Here’s the article…

VANCOUVER (NEWS1130) - Vancouver Mayor Gregor Robertson says taxpayers need to hope for a strong real estate market over the next few years, to help prevent the Olympic Athletes Village project from being an even bigger drain on city coffers.  And Robertson is pointing the finger squarely at the previous city council for the risks they took with taxpayer money.

Robertson says the financial risk hinges on the market–if real estate bounces back, the city could break even.   And Robertson calls that a ‘best case scenario’.  “If the market does bounce back and it’s strong, and we’re able to sell all these units in the next year or two, then we could recoup our costs or break even on this entire project.”  The Olympic Village will eventually be converted to a condo development, including low income housing.

However, Robertson is also warning of the consequences of a post-Olympic real estate slump.  “If the market doesn’t bounce back and sales are slower over time, we have to hold all the financing and we’ll have more risk and more chances of there being a loss with the whole project.   While the risk still exists I feel comforted with the strengthening market and feel very good about the project itself and the quality. There’s no question there’s immense value to it and the exposure will be tremendous during the 2010 Olympics.”

A KPMG audit commissioned by Robertson and the existing council in December is proving to be a political weapon for the new mayor.  The report finds serious oversight, mismanagement and confusion regarding the billion dollar project’s construction schedule and budget.  The city was forced to take over financing of the project after problems developed with the original lender.

Vancouver City Councillor Suzanne Anton says it isn’t fair for Robertson to blame the previous administration for the mismanagement of the Olympic Village Development.  Anton says the old council did what they could at the time to deal with a very complicated project.  Anton says Robertson doesn’t realize how complex the project was, and calls the KPMG report just a waste of taxpayer money.

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Posted in Ummm... Yeah! | 1 Comment »

A Valley For Whom? – Edmonton Journal

Thursday, October 1st, 2009

There’s a battle brewing between the rich and the rest in Edmonton; and it’s a fight over the river valley. There are more and more high end luxury homes being built in the river valley, and many feel that they’re blocking the views for the rest of us.

Sheila Pratt, and Edmonton Journal Staff Writer, provides a very insightful article on the subject. It’s a little one sided; but these days what articles aren’t?

http://www.edmontonjournal.com/news/valley+whom/2039428/story.html

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Posted in Real Estate News Edmonton | No Comments »

Why Does My House Have 2 Addresses?

Saturday, July 4th, 2009

John;

My insurance company is looking for the “legal address” of the home? I don’t get it. I gave them the address in North Edmonton but they didn’t want that. Can you help me out here? Did I buy the wrong house?

- Sandra

Hey There Sandra;

What they’re referring to is the LEGAL DESCRIPTION of the property, which was given to it when it was just an empty lot. This description is a LOT/BLOCK/PLAN description, or in the case of a condo it’s a PLAN/UNIT description.

This more obscure address is a definite address, meaning it will never change. In the past, the city has changed the addresses of homes. They’ve changed Calgary Trail North to Gateway Boulevard. They added NW to the entire city. About 40 years ago they added 100 to all the street numbers. But the legal address, or legal description, never ever changes.

I hope this helps.

John;

My insurance company is looking for the “legal address” of the home? I don’t get it. I gave them the address in North Edmonton but they didn’t want that. Can you help me out here? Did I buy the wrong house?

- Sandra

Hey There Sandra;

What they’re referring to is the LEGAL DESCRIPTION of the property, which was given to it when it was just an empty lot. This description is a LOT/BLOCK/PLAN description, or in the case of a condo it’s a PLAN/UNIT description.

This more obscure address is a definite address, meaning it will never change. In the past, the city has changed the addresses of homes. They’ve changed Calgary Trail North to Gateway Boulevard. They added NW to the entire city. About 40 years ago they added 100 to all the street numbers. But the legal address, or legal description, never ever changes.

I hope this helps.

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Posted in Ask John Carle | No Comments »

Pros and Cons of Buying an Older Home in Edmonton

Saturday, March 7th, 2009

Often, first-time buyers get into a dilemma of buying a new house or investing on an old home. There are several home buyers preferring used homes due to a variety of reasons. Most importantly, it is really becoming harder to meet the exorbitant construction costs. New homes are costlier than old ones.

Pros Of Buying An Older Home:

The best advantage of buying an old home is its construction. Built with finest quality of wood by genuine craftsman, older homes have withstood the test of time, where every minute aspect has been attended with meticulous diligence. These homes are usually filled with beautiful architectural features like arches and hand-carved decorations. Another advantage is the space these homes offer. The size of new homes being constructed these days has greatly decreased due to increasing land costs. Older homes are spacious and built on large tracts of land. Other advantages of buying a new home include presence of long term neighbors, well-established neighborhood that has sustained several years and serene backyards and boulevards filled with large canopies of trees and lush green vegetation. Older homes are usually located nearer to downtown areas filled with restaurants and shopping centers.

Cons Of Buying An Older Home:

Although, older homes come at a cheaper price, you might have to spend more towards maintenance costs. Depending on the requirements, you would have to invest money towards renovation and repair. Things like chimneys, stone foundations, floors, bathrooms, sewage systems and electrical connections need to be refurbished so as to avoid any major accident. Many times, these maintenance costs might end being really expensive.

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Posted in Buying Edmonton Real Estate | No Comments »

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