Sold 2 Storey in Morinville

Beautiful 3 bedroom, 1.5 bathroom 2 story home in the family community of Morinville! As you enter, you will notice the living room with gorgeous hardwood flooring flowing throughout as well the sunlight flowing thru the south facing bay window. Dining area features ceramic tile flooring while the kitchen has been completely remodelled with espresso cabinetry, ample cupboard and counter space. Convenient 2 piece washroom finishes the main floor. Upstairs offers a large master bedroom, 2 other good size bedrooms & family bathroom. Basement is
partly finished with a family room area, laundry room and loads of storage. The backyard is fully fenced with patio, established raised garden beds, firepit and large shed. Located on a quiet cul-de-sac, close to schools, sports fields and easy access to major transit routes, this well maintained property will be a great house for a young family to call home.

If you like more info on this Morinville 2 storey famil home, please reach out thru my contact page.Thanks!

Knowing the Perfect Time to Reduce the Price of Your Edmonton Home

In Edmonton's current Real Estate market, it's not unusual for sellers to point fingers at the REALTORS® then they point fingers at seller's unrealistic expectations for a price. It's a catch 22 situation. Sellers say, "Why don't do you do more to sell my house?" Price reductions, price improvements, price adjustments, it doesn't matter what you call it, no seller wants to hear about lowering  their asking price (frankly, I really dislike it).

Before you agree to reduce the price of your home, ask yourself these questions

    How many hits has your listing received in the MLS®?
    Do the marketing comments sell the benefits or features?
    How does the house show online; are there a lot of beautiful pictures?
    Is your signage in a prominent location, has phone numbers, plus Web site?
    Do you have a virtual tour published?
    What kind of feedback have you received from REALTORS® and buyers?
    Are you offering enough compensation to the buyer's REALTOR®?
    Have you had showings and how many?

    How many offers have you received?

    How many of your neighbours have reduced their asking prices to stay competitive?

    Has your home been on the market longer than the average Days on Market (DOM)?

Purchasing a home today in Edmonton's current Real Estate market is great. Low interest rates and plenty of inventory to choose from and if you want to sell your home, it may be time for a price adjustment.

Need a new home pricing evaluation, contact me today. I can help. 

Is the Edmonton Area Still a Buyer's Market?

The best way to know if Edmonton or any city is in a buyers market or a sellers market is to determine the current absorption rate.

An absorption rate is the rate at which homes sell in a given area during a given time period. Absorption rate is calculated by dividing the number of sales in a given month by the number of available homes for sale. It is the inverse of months of supply.

For example, if there are 20 properties listed for sale in a certain area, and 2 properties sold over the last month, the absorption rate is 10/100=10%. Which means, assuming no other homes put on the market, it would take 10 months for buyers to purchase enough properties to absorb the real estate demand. Very simple formula.

As a rule of thumb, an absorption rate of 20-25% or higher means that homes are selling quickly and the market favours sellers. Lower absorption rates mean that homes are not selling quickly and supply is much greater than demand, favouring buyers.

Saying all of this, as of this date, YES Edmonton & area is generally a buyers market but beware as some neighbourhoods are selling quickly if priced and presented correctly. If you would like more info, please comment below or reach out to me on my contact page.

Pricing Your Edmonton Home

When determining the value of your home, there are two main ways. Comparative Market Analysis (CMA) or an appraisal.

A written justification of the price for a property, primarily based on an analysis of comparable sales of similar homes nearby normally completed by an independent third party through a bank or financial institution. When an appraisal is lower than the agreed upon price of a property and it is a CHMC mortgage, the bank or financial institution may not agree to forward funds to complete a sale, there for Real Estate negotiations begin again.

A Comparative Market Analysis or home evaluation is an examination of prices at which similar properties in the same area recently sold, properties currently on the market and properties with offers on them (pending offers). We REALTORS® perform a Comparative Market Analysis for their clients to help them determine a list price when selling their home or a price to offer when buying a home.

The true value of a home is the value of what a seller wants, what a buyer is willing to pay and of course what the bank thinks!

What are think are the steps to price your home. Please comment below or thru my contact page.

Sold Bungalow in Baturyn

Beautiful 3 bedroom, 1274 sq ft family home with numerous quality upgrades. Entering the home, you're greeted by the front living room with huge window. Eat-in kitchen has newer dishwasher and stove and has plenty of cabinets and counter space. Sunken family room features sliding doors to back yard & cozy wood burning fireplace perfect for cool winter nights. Master bedroom is quite large and has a convenient 2 piece ensuite washroom while the other 2 bedrooms are a good size. Upgraded main bathroom finishes this level. Downstairs level is almost a clean canvas & ready for your development. A room is partly finished for a potential bedroom while there is plumbing rough-in for another bathroom just next to laundry area. Upgrades include high efficiency furnace and HWT 2018, house shingles 2018 & newer garage door. No winter scraping in the oversize double car garage with work bench, & storage shelves. Located on quiet street and close to schools & parks, this is a fantastic house for a family to call home.

If you would like more info about this Baturyn family bungalow, please comment below or thru my contact page.