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EDMONTON HOUSE HUNTING

 EDMONTON'S ADVANCED MARKETING REALTORS®

 

Edmonton Real Estate Blog, Market Information & Well-Balanced Advise

Is your Edmonton Neighborhood is Improving?


When you’re looking for a new Edmonton home, you want to find one in a great neighbourhood – or, at least, in a neighbourhood that is on the upswing. How can you tell if a particular area is improving? Here are some common indicators:


Pride of ownership. Take a walk around the neighbourhood. Do you get a sense that people take good care of their homes? Are the lawns mowed? Is the landscaping trimmed? Are flowers planted? Are the sidewalks & walkways shoveled from snow? Homeowners are more likely to look after their properties when they like where they are living.
Home improvements. Are people investing in their homes? Are they getting their driveways re-done? Their windows replaced? Are there signs of home improvement projects? If so, this is a clear indication that homeowners like the area enough to invest in their properties.
Real estate sales activity. Do homes tend to sell quickly in the area? Do they sell for a good price? If so, the neighbourhood is probably in demand. If people want to live there, it's a desirable area.
Business investment. Are businesses investing in the surrounding area? Is there an increase in the number of upscale shops, health clubs, restaurants, and other commercial enterprises that often locate near desirable neighbourhoods?
Community involvement. Are there signs that the community plays an active role in the look and lifestyle of the neighbourhood? Are there neighbourhood picnics, yard sales and other get-togethers? Check Facebook.com to see if the neighbourhood has a community page.

City plans. Find out what plans the city of Edmonton has for the area. Will there be road improvements done in the near future? Are there any major construction projects on the schedule, such as LRT, new school or community centre. Although such projects can be disruptive in the short term, they may improve the neighbourhood – and, as a result, boost the value of any home you buy – in the long-term.

Amortization Rate. One of the best ways to tell if a neighbourhood is improving is the amortization rate which is a summary of how quickly homes are selling in one area comparable to the nearby communities and district and municipality.


Of course, the best way to find out the desirability of a neighbourhood is to talk to us, a good REALTOR® who knows the area. Contact us today.

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Is 5% really what you need to purchase a home in Edmonton....

You've been looking on line and found that perfect home, calculated and saved your 5% downpayment and want to make an offer to purchase. But are you really ready to buy your Edmonton dream home?


Your down payment is the amount of money that a home buyer contributes in cash towards the purchase of a home. Down payment is usually described as a percentage of the total sale price.5% down for your Edmonton Mortgage image

Before you make an offer on any home, ensure you have calculated all buying costs. Talk with your mortgage broker or your buyers agent and inquire on CHMC, legal, property tax adjustments and closing costs. If you don't have a mortgage broker or bank mortgage specialist, ask us with your choice of bank or financial institution as we know some great people in that sector of the industry.  
Mortgage lenders offer more attractive loan terms for borrowers with large down payments. Putting down 20% or more of a home’s purchase price will avoid mortgage insurance, also known as CHMC and offer the most attractive interest rates. As the down payment percentage goes down, the lender is at greater risk if they have to foreclose on the property, so they offer less attractive loan terms and higher interest rates.

 

Make sure your REALTOR® is an ABR and check out some of our buyers services we offer.

Have Questions? We are here to help!

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Knowing the perfect time to reduce the price of your home?

 

In Edmonton's current real estate market, it's not unusual for sellers to point fingers at the agents and agents to 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  thier asking price.

 

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

    How many hits has your listing received in 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, contain several phone numbers, plus a Web site?
    Do you have a virtual tour published?
    What kind of feedback have you received from agents and buyers?
    Are you offering enough compensation to selling agents?
    Have you had showings and how many?

    How many offers have you recieved?

    How many of your nieghbors have reduced thier 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 us today. We can help.

 

 

 



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