Are Edmonton Homes Becoming More Affordable?

Tue, 25 Nov by edmontonhomepros
Edmonton Homes More Affordable

Homes like these energy efficient Oxford area homes are becoming more affordable in Edmonton Photo credit: CTV

This week, RBC Economics released a report that states that overall, Canada’s real estate has become slightly more affordable.

Even with the fast-rising prices in Vancouver and Toronto (and to a degree Calgary), the country is still in relatively good shape.

RBC Economics says that rising household incomes, lowered utility costs and low interest rates are making it easier for people to enter the market.

As you might have seen in our last post, there are many factors at play that can influence affordability and pricing of real estate. The Canadian Real Estate Association quoted a 7.1% year-over-year increase over October 2013. The MLS home price index posted price gains of 5.5% over last year (which is quite a bit lower than CREA’s numbers).

Either way, with the big three markets influencing our national landscape, it may seem easy for some to believe that home affordability is slipping away.

It isn’t.

Across the western provinces, homes have slightly risen in price—once we remove Calgary and Vancouver from the equation. Both cities’ markets have witnessed growth far beyond the national average. In many other markets, we’ve seen only slight to moderate growth at rates that are very comfortable for those markets.

We call the prices respectable because the drop in fixed mortgage rates is keeping the market strong. Also, the gradual rising incomes in the west are also helping to keep homes affordable.

So many of us are preparing to hear panic about the market, but the price conditions of Edmonton homes—as well as other western cities—are robust with a firm foundation.

We have settled into a solid growth trend, and affordability for Edmonton home buyers is improving. It’s never been a better time to get into the market.


If you are thinking about buying or selling your Edmonton home, get in touch with the Edmonton Home Pros team.

We’ve got the experience to help you make sense of the market and find the home that’s right for you and your family.

 

2014 Canada Avg Home Prices and Edmonton Real Estate

Tue, 18 Nov by edmontonhomepros
Canada's Average Housing Prices: Edmonton Real Estate

Graphics designed and published by CBC.

It’s been a big year for many of Canada’s hottest housing markets.

The average buying price of a home jumped up over 7% compared to the same time last year, according to the Canadian Real Estate Association (CREA).

At the same time, the actual number of homes sold is almost identical in growth (7%).

With having a soft spell earlier this year, this is welcome news for anyone in the market or looking to get into it.

For one thing, October tends to be a softer month than the busier days in the spring and summer, as people are eager to buy and sell. But having an October that is this active bodes well for the busier housing markets, and this includes Vancouver, Toronto, Calgary and Edmonton.

Additionally, the two hottest markets in the city appear to be lifting the numbers slightly. Taking Vancouver and Toronto out of the equation, the average home price for the rest of the country is $330,596 with a year-over-year rate increase of just 5.4%.

Several of our country’s major cities have seen slight declines in year-over-year pricing. Sherbrooke Quebec saw the most dramatic with a drop of 14%. The remaining 8 cities saw pricing declines between 0.3% and 3.7%, which shouldn’t shake up those local markets too badly.

The Edmonton Home Pros Team has worked for years in the hearts and surrounding areas of these communities

We’ve seen the numerous market changes and forces at play, and we can help you navigate the market whether you are buying or selling your home.

Don’t be alarmed with steady growth. The Edmonton real estate market is strong and continues to follow a path that many in our industry have seen coming. They say a rising tide lifts all boats, and if you are looking to make a move in the marketplace, there is no better time than now.

So get in touch with us and we can have a conversation about making the right decisions for you and your family.

Military Relocation: Moving to Edmonton

Wed, 30 Apr by edmontonhomepros

Edmonton – A Place To Call Home

We know that relocating to a new place can be a very exciting experience; new beginnings for you and your family, and a new place to call home. Sometimes the only hard part is knowing where to start or establishing a game plan for your move . If you’re a Canadian Force Member and you need to relocate to Edmonton, let us assist you in this transition. We know how hard you work for our country and we’d like to pay it forward by making this process as easy as possible for you.

Edmonton is a very welcoming city that we know you’re going to love once you explore its streets, trails, and the breathtaking river valley.  While you get familiarized with your new surroundings and workplace, we’ll help you organize, plan, and understand what this relocation means for you, your family, and your job.

Take advantage of our expertise and years of experience helping families find the perfect place home in a new city. Contact us today and tell us more about your situation so we can start getting your new home ready for you!

Thank you for all you do for our country. 

 

 

 

 

 

 

Seasons Greetings!

Wed, 18 Dec by edmontonhomepros

Happy Holidays & All The Best In 2014

The Edmonton Home Pros Team would like to wish you a festive Holiday Season filled with joy and among great company. We also wish you the very best this New Year. May 2014 be your best year yet! Set high goals for yourself this year and you will be amazed with what you can accomplish.

Seasons Greetings from Stephen Lau
If one of your goals is to buy an Edmonton real estate home, contact Stephen Lau and the Edmonton Home Pros Team. We will listen to your needs, wants, and budget then work with you to find the perfect Edmonton property to call home. This Homebuyers Consultation is available to you at no cost!

If you’re interested in placing your Edmonton home on the market, feel free to contact us! Allow us to assess what your home is worth and advise you on selling your Edmonton property. Then, through our extensive Edmonton network, we will maximize your home’s exposure and find you the right buyer!

Condos & First Time Home Buyers

Fri, 11 Oct by edmontonhomepros

Are you tired of making rent payments that don’t go towards something? Transitioning from renter, to first-time home owner is easier than you think! Edmontonians are fortunate to live in a city that has a strong housing market, low interest rates, and favourable conditions for first-time home buyers. Choosing a condominium property as your first home has many benefits:

First-Time Home Buyers & Condos

  • 1) Low Competitive Prices: There is an array of condos to choose from in the city with more and more developments in the pipeline. Search through our extensive list of Edmonton Condos For Sale and you will surely find something!
  • 2) Extensive Support For Home-Buyers: The Edmonton Home Pros Team are industry leaders and professionals. They provide extensive Real Estate support to first-time home buyers. Stephen Lau and his team also makes sure you have tons of resources and information available to help you along the way.
  • 3) Attainable Mortgage Rates: Low interest rates make a huge impact your opportunities to purchase an Edmonton condo. Depending on the property your mortgage payments could be lower than what you currently pay for rent!

If you’re concerned about making the Down Payment on your first condo, consider turning to a financial institutions for support. Many of them offer programs to help you with the deposit on your first Edmonton condo. The Edmonton Home Pros team also has a list of business associates which include Mortgage Professionals, Lawyers, and even Developers. Start a conversation today and you will be well on your way to home ownership. Contact Stephen Lau and the Edmonton Home Pros Team!

Edmonton Schools & Real Estate

Fri, 06 Sep by edmontonhomepros

Its back to school season in Edmonton! From cheerful Elementary kids taking the yellow school bus to University students on the LRT, Edmonton streets are once again filled with backpacks and coiled notebooks heading to class. So how do educational institutions affect the local real estate market? To start with, housing prices are always higher near reputable schools due to the strong demand. If you are looking to buy an Edmonton home for sale during the late Summer of Fall, there are couple of things you should keep in mind:

Edmonton Schools & Housing Prices

  • Find a home that is within your child’s school district. It can be tough for kids to relocate and start over. If you’re moving outside their school district try not to move halfway through the school year.
  • If you’re moving to Edmonton do your homework. When house hunting check the nearby schools, their ratings, programs, and distance to the residential areas you’re interested in.
  • Don’t think that finding the #1 school in the city and paying hundreds in your child’s tuition is a guarantee that they will succeed. While it’s certainly huge benefit for them to be in a reputable school, it is ultimately up to your child’s willingness to learn. So don’t stress if the school closest to your dream home is not the best in the city.

If you’re ever unsure about choosing between two schools, check the school boundaries and bus routes. Whether you’re looking to buy or sell Edmonton real estate properties, the Edmonton Home Pros team can be your real estate solutions. Contact Stephen Lau for more information.

We wish all the Edmonton students a great school year!

Steps To Calculating Your Home Buying Budget

Fri, 05 Apr by edmontonhomepros

So you’ve decided to purchase a home, congratulations! Before becoming a homeowner you must calculate your budget and keep in mind that it’s all about balance. Yes, you want to find the perfect home; however, you want to do so at an affordable cost.

97% of Canadians agree that cost in the most important consideration when choosing a home.

The Edmonton Home Pros team help future homeowners from day one, until the moment they move into their new home. Below are three simple steps to help you calculate your home buying budget:

Homebuying Budget 1. Find your options. Do you know the difference between variable-rate and a fixed-rate mortgage? Do you know what amortization period best suits you? Take the time to learn about your options, it will help you make a better informed decision. Payment flexibility is also important to keep in mind if you are looking to pre-pay.

2. Crunch some numbers. Search for your desired Edmonton home with confidence- knowing that each property you view is within your budget. Download an online mortgage calculator to compare different mortgage options and payment plans.

3. Get pre-approved. You can do this at your home bank at no cost or obligation, it also gives you the perfect opportunity to go in and talk to a mortgage specialist. By doing so, you will be prepared when you find the Edmonton home you want.

Looking to buy an Edmonton home? Contact Stephen Lau today for your complimentary home buyers consultation. Alternatively, you can also begin searching for Edmonton homes for sale.

Selling Your Home – Why Edmonton Open Houses Work!

Fri, 16 Nov by edmontonhomepros

So you’ve decided to sell your home, congratulations! With the help of Edmonton’s trusted real estate group, Edmonton Home Pros, we know you’ll sell your home for top dollar. How? Through support, complimentary home evaluations, and our knowledgeable team of agents who help you every step of the way. We are also firm believers in hosting an extensive open house. A picture says 1,000 words, but an open house leaves you speechless.

Through open houses, potential buyers get a better feel of what is nice about your Edmonton home. As they walk through it they visualize themselves living there, creating a special connection between buyers and their future homes. Open houses are an excellent way to network and introduce your house to the Edmonton real estate market; which maximizes its selling value. Edmonton Home Pros help you with the promotion and advertisement of a showing. We provide you with optimal signage during public viewings, maximizing your exposure.

With private events, we provide an advanced opportunity for the ideal buyers to bid. Whether it’s a public showing or a private showing, you can trust us to showcase your home in the best light possible. We offer our services to any Edmonton home, including luxury houses. Once a month, Edmonton Home Pros puts on a Luxury Night for Edmonton luxury home owners looking to sell. In the past, Edmonton Luxury nights have provided guests with complimentary food, entertainment and wine.

Ready to sell your Edmonton home? Contact Stephen Lau, for your free Edmonton home evaluation today.

Edmonton home buyers seeking information on our next open house, please contact our office at: 780.566.8016.

The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the REALTORS® Association of Edmonton. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.
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