The Edmonton Real Estate Blog, Market Information, Advise & Opinion
October 16, 2017
Griesbach demonstrates urban design success at many levels, creating a new community unlike anything else in suburban Edmonton. It raises the bar for quality of the public realm in Edmonton.
Redevelopment of the 620-acre former Canadian Forces army base, designed for 13,000 people, is about 25% built and will be completed over the next 10 years. Given its context, it is primarily residential, but includes a village centre and transit-oriented mixed-use centre. The builders are upper scale including Homes by Avi, Dream Homes by Krisner, Landmark Classic & Legacy Homes and Coventry Homes.
Tree-lined roadways focus on a central man-made hill. Paths integrated into the overall green system and adjacent neighborhoods accompany a waterway system. This design, combined with traffic calming, heritage interpretation, and the dispersal of parks makes it very people-friendly.The neighborhood names program is based on regimental history, peacekeepers, famous battles, war heroes, military nurses, and Victoria Cross winners.
Griesbach’s guidelines promote diversity, with an eclectic mix of housing forms and styles from garage suites to apartments; homes for families, seniors, and a veterans’ centre. Subdivisions have been designed around existing housing; some were relocated on new foundations. Right in the community is the Major General Griesbach Elementary School from Kindergarten to Grade 9.
Saving and relocating existing vegetation creates the feel of an established community; plans are to integrate evergreen rows into ‘green streets.
Various design elements pay homage to the Griesbach neighborhood military heritage. William Griesbach, Edmonton’s second mayor, First World War hero, MP and Senator, is honored with an equestrian statue. A pedestrian crossing of Patricia Lake replicates a Bailey Bridge, a prefabricated bridge used by combat engineers.
October 13, 2017
Pricing Your Home is not Rocket Science!
Is Your Home Worth What You Think?
When determining the value of your home, there are two main ways. Comparative Market AnalysisA (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 independant 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). Real estate agents perform a comparative market analysis for their clients to help them determine a list price when selling a 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!
October 12, 2017
Is it Time for a Price Reduction?
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.
October 10, 2017
Is Edmonton still in a Buyers Market?
Edmonton Absorption Rates
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.
As a rule of thumb, an absorption rate of 20-25% or higher means that homes are selling quickly and the market favors sellers. Lower absorption rates mean that homes are not selling quickly and supply is much greater than demand, favoring buyers.
October 9, 2017
Only a Few Days Left to Get Lost!
Grab the kids and come out to Edmonton's corn maze only a few minutes west in Parkland county!
Are you up for a challenge full of gut decisions, clues and unexpected turns? From the air, the maze looks like a beautiful artistic pattern. On the ground, the Edmonton Corn Maze tests your sense of adventure and direction. The labyrinth of paths and corridors is cut into a 15 acre field of corn, and offers a series of clue cards for guidance along the way, with questions for all ages. Don't worry about taking your time to find your way out, getting lost is half the fun! For prices and location -click here
October 2, 2017
Come See Our Public Open House. Open House on Saturday, October 7, 2017 1:00PM - 4:00PM no
Please visit our Open House at 11 Par CRT in Lacombe.
Open House on Saturday, October 7, 2017 1:00PM - 4:00PM
This is an amazing home for a young family, located in the cities west end. As you enter this spacious home, you are greeted by the bright welcoming foyer and the pearly banister leading upstairs to the four spacious bedrooms. The lower level of this great property offers a second family room and a multi-function hobby room which can also be used as a home office. The main living area offers a massive white country style kitchen with high grade, soft cloud linoleum and newer appliances, second bath with stand up shower, formal dining and a grand living room with a brick wood burning fireplace and mantle - perfect for family Christmas. The best part of this 4 bed, 2 bath home is the incredibly private and colossal back yard with a hidden gate backing onto vast green space. Nearby amenities include schools, shopping, golf course.
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