Selling a house in 177 minutes....

 

Once you've decided to sell, this scenerio is basically a dream come true.

It's what everyone hopes for, hit the market, get flooded with showings, and then an instant offer or even multiple offers.

 

Best case scenerio.

 

How does this happen?

 

First off, let's dispell some misconceptions about properties that sell like this.

 

Misconception number 1: The agent priced it too low.

Nope, not in this case. (I can't speak for other agents or other scenerios) But as a matter of fact another agent had this property for sale (for less!) before me and it didn't sell. 

 

Misconception number 2: It's spring market, everything sells.

That couldn't be further from the truth, buyers are intelligent, the are educated about the market, and the know what they want. They have lots of choice, and quite often lots of time to pick the perfect home. This is a very competitive market. There is no guarantee that you will see a sold sign without a very strategic plan in place.

 

Okay, onto the fun, 'sold sign' producing stuff..

 

Numero Uno! Great clients! People who really want to sell their home, they consider you a professional, listen carefully to your plan, help execute everything based on careful instruction, which also includes their active involvement in selling their home.

 

Knowing your demographic. You have to know your buyer base, study the solds, look at the data, days on market, prices, finishes, etc. Who is buying this neighbourhood? what are they looking for in a home & a community? What are they likely to spend on the product you are offering?

Advertise to them, specifically to them. There's no point spending market dollars and hours of preparation to advertise a family home to empty nesters or first time condo buyers.

 

Tough love. Quite often I get asked how is it that all of my listings seem to look like 'magazine houses', what a fantastic compliment! But, this is not by accident my friends. No no, lots of planning & direction (and usually de-cluttering) goes into the preparation & marketing of your largest investment. We are definately trying to entice qualified buyers to see your home as the very best option for them.

 

Staging. Of course I do it! And I'm not afriad to get in there and haul furniture around all while donning a fantastic pair of heels either :) You know the feeling you get when you walk into a nice hotel lobby? or arrive at your all-inclusive destination to be greeted by wonderful sights, sounds & smells? A visitor to your home, that is considering spending a very large amount of money, deserves this same experience. 

 

There are a few other propriatary systems that include things like, wording & peoples natural reaction to specific phrases in write-ups, visuals in marketing that go back to my graphic designer days, and include things like optical centres which draw people in, all really geeky stuff that helps sell my properties. I won't get into this stuff because you would fall asleep.

 

At the end of the day, this is our goal with every single home, it doesn't always work out this way, but the effort is there every single time.

 

Congrats to my sellers and their 177 minute whirlwind night of selling their home.

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November sales down less than 3% from last year

Edmonton, December 2, 2015: Edmonton’s housing market saw strong sales numbers in November. November’s all residential reported sales were down only 2.9% year-over-year (YoY), a notable improvement compared to October 2015 numbers which saw a 15% drop compared to October 2014. The average residential sales price in November for the Edmonton Census Metropolitan Area (CMA) dipped slightly by 3.1% YoY, however average year-to-date prices in November 2015 remain strong year-to-date (YTD) and are up 1.5% compared to November 2014 YTD.

“The warm fall weather we saw in November, coupled with healthy inventory numbers, were key factors in keeping buyers active in the market,” explains Geneva Tetreault, Chair of the REALTORS® Association of Edmonton. “During a time of year where we generally see the market slow down, consumers demonstrated confidence in the Edmonton and Area market.”

Average days on market for single family homes stayed virtually stagnant at 56 days, the same as October and up only one day (55) from November 2014. Condominiums averaged 62 days on market while duplex/rowhouses took an average of 57 days to sell, an increase YoY of 7 and 10 days respectively.

A single family home in the Edmonton CMA sold for an average of $432,862; down 1.4% from October and down 2.62% YoY. Duplex/rowhouses also dropped to an average of $339,454 – down 5.5% from the previous month and down 3.5% from November 2014. However, the average price for condominiums ($253,618) was up 3.8% over last month. All residential properties average price sat at $369,559, down a modest 0.59% from October.

All residential active inventory remains strong with 6,043 residential properties available in the Edmonton CMA at the end of November, down from October by 9% but still up over last November by 55%.

“While we continue to see strong inventory numbers, there are noticeably fewer listings coming onto the market in the fall, compared to our peak in the spring when we had more than 7,300 residential properties available,” said Tetreault. “We expect to see the average price to continue to adjust itself due to the slower winter sales season and higher inventory levels, as we approach 2016.”

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1 Census Metropolitan Area (Edmonton and surrounding municipalities)
2 Single Family Dwelling
3 The total value of sales in a category divided by the number of properties sold
4 The middle figure in a list of all sales prices
5 Residential includes SFD, condos and duplex/row houses.
6 Includes residential, rural and commercial sales

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Hi Everyone!

Well the spring market is in full swing in Edmonton, AB.!

We have experienced a few changes so far this year that could potentially affect the local real estate market, but seem to be holding strong in our value and sales numbers, so far this year we have gathered the following data from the Edmonton Real Estate Board...

Residential Sales Activity (April 2015/YTD)

Single Family Detached Homes
Listings / YTD ~ 1,383 / 4,632
Sales / YTD ~ 696 / 2,093
Sales to Listings Ratio / YTD ~ 50% / 45%
Average Sale Price ~ 450,783
Average Sale Price YTD ~ 444,829
Average Days on Market / YTD ~ 41 / 42
My average days on Market ~ 28

 

Condominium
Listings / YTD ~ 879 / 3,019
Sales / YTD ~ 387 / 1,239
Sales to Listings Ratio / YTD ~ 44% / 41%
Average Sale Price ~ 253,373
Average Sale Price YTD ~ 250,767
Average Days on Market / YTD ~ 45 / 49
My average days on Market ~ 28

 

Residential Average Sale Price by Type (April 2015)
Single Family $450,783
Condominium $253,373
Duplex/Rowhouse $367,604

If you have any questions at all I encourage to contact me :)
Have a great week!

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Here's the latest from the Edmonton Real Esate Board...

 

Edmonton and Area Average Price Still Up.

Edmonton, April 2, 2015: Despite a decline in all residential sales over those reported in March of 2014, last month saw continued growth of residential prices for the Edmonton Census Metropolitan Area CMA of 3%. The average sales price of a single family home was $438,880 - up 1.5% y/y; condo was $249,841 - up 1.2% y/y; and duplex/rowhouse was $354,022 - up 6.9% y/y.

Sales are down in all categories except duplex/rowhouse which are up over 6%. Single family sales were 876 down 4.5% over last March (917 reported). 416 condos sold last month compared to 474 in March 2014. All residential sales for March were reported as 1,453, down 6.5% from 1,554 reported last year.

“The fact that our prices did not have the dramatic increases seen over the past few years in other cities like Calgary, Toronto and Vancouver means we have not experienced the same overvaluation.” REALTORS® Association of Edmonton President Geneva Tetreault explains, “That is why our prices are not taking the same hit even though our inventory is way up and sales are slightly down. A more accurate valuation should keep our average prices more stable.”

March 2014 had 14 million-dollar plus sales (30 YTD), March 2015 had 8 million dollar plus sales (19 YTD). “Last year we saw a dramatic increase in sales of homes priced over a million. Even though the number of those high price sales are down this year, our average price is up. That is a good sign that we are not seeing our average prices inflated,” says Tetreault. “The big story continues to be the increase in inventory. We ended 2014 with a fairly low inventory. The influx of new listings means that buyers now have the opportunity to be a little more choosey. Having a REALTOR® help you navigate the market is always a wise decision, particularly in a complex market like ours.” Residential listings are up over 31% from last March with 3,152 new listings coming on to the MLS® System in the Edmonton CMA. That left us with an ample inventory of 5,944 properties for sale.

Rural areas seem to be seeing the same trends with total rural sales down 8% from 156 reported in March 2014 to 143 reported this year. Rural listings are also up, but only by 12%, a much smaller margin than the Edmonton CMA. Over 699 million dollars in residential sales through the REALTORS® Association of Edmonton occurred in March 2015.

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1 Census Metropolitan Area (Edmonton and surrounding municipalities)
2 Single Family Dwelling
3 The total value of sales in a category divided by the number of properties sold 
4 The middle figure in a list of all sales prices
5 Residential includes SFD, condos and duplex/row houses. 
6 Includes residential, rural and commercial sales

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urban-infill-powerhouse-growers

Urban Infills: Increasing Urban Density for Healthier Cities

 
Published On 12/02/2015 | By Kyla Knight | Green Real Estate, Urban Design
 

 Infill

In urban planning, infill is the rededication of land in an urban environment, usually open space, to new construction. Infill also applies within an urban polity to construction on any undeveloped land that is not on the urban margin. The slightly broader term “land-recycling” is sometimes used instead. Infill has been promoted as an economical use of existing infrastructure and a remedy for urban sprawl.  ~Wikipedia

Urban Infill Site. Image via Wikipedia.

Urban infills are going to drastically lessen the environmental footprint of each and every major city that adopts this way of development (and also, they look uber cool). Whether you are in the market for a new home or are just thinking about where your next move might be, consider an infill within an established community as an alternative to brand new development.

9 Reasons for Urban Infills

1. Building Materials

Massive new development comes with one major environmental cost, building materials. Lumber is of course the first material that comes to mind when we think of ‘building’ anything.

There is fine balance between running a healthy lumber operation and stripping the land of everything it’s capable of producing. Urban infill development brings the lumber and building material usage down to a scalable amount of production.

2. Trees

Older neighbourhoods come with older more mature trees, big beautiful boulevard lining trees. It is one of the major differences between established neighbourhoods and brand new communities. It takes years and years to get that feeling of full lush greenery down every street. The re-birth of spring buds on massive maple trees and that wonderful glow of falls colour change, orange and yellow sidewalks layered with fallen leaves.  And don’t forget the brilliant white sparkle of new snow on giant Evergreens; it just doesn’t sit the same on six month old saplings. The massive cost of supplying a whole new residential development with landscaping is absolutely atrocious, these dollars could better be allocated to beautifying our existing neighborhoods.

 

infill-tokyo-garden-house-powerhouse-growers-pinterest

 

3. Land

This is a sensitive area, I am acutely aware of the job creation that comes with the acquisition, zoning, development, and sub-development of new land. It is a process that is unavoidable within any major city, however, there is a difference between new development because of population growth and the greedy need for ‘more’ of everything on a grotesque scale. Land development has to make sense for the city it is developed in. Our older communities often fall into disrepair while our new suburbia just keeps growing and growing. Our heritage, landmarks and cities history reside within those old neighbourhoods. We should put as much effort into the revitalization of our pioneer communities as we do our shiny ‘box store’ freeway access only communities.

4. Schools

Choosing to reside within an established neighbourhood means having your children attend a school that is already up and running. The school likely has deep roots in the community which contributes to a sense of belonging for students and even for the parents who choose to stay closer to a city’s core. And, of course the cost associated with building a brand new school isn’t weighing on taxpayers either.

5. Local retail

Infill supports local retail. It just does. People that choose an infill lifestyle generally choose more often to buy local, attend smaller locally owned restaurants, take in farmers markets and really relish in their ‘core’ lifestyle.

6. Infrastructure

Developing a new home on a older lot also means that the infrastructure in and out of your community has long been in place. Quite often there are wider more gracious streets in older neighborhoods that allow for parking on both sides and easily allow two cars passing. The city constantly has an infrastructure crew in place so that no neighbourhood falls into disrepair.  The redevelopment of new homes on any street and the inevitable increase in everyone’s property value, is a sure fire way to ensure your street is taken care of.

7. Public Transit

The public transit system for an established neighborhood is most likely one of the best most reliable means of transportation you will find in any city. These routes have been around for a long time, and are constantly re-evaluated for ease of access and customer satisfaction. These routes were created at a time when not every home had two vehicles, someone in the household used public transit, back then it was for economical reasons now it serves two wonderful purposes, economics and environment!! It is once again cool to hop on the train to work and quite often will get you there way faster than driving, not to mention the fuel savings in dollars, environmental protection, and insane parking prices.

8. Water/Sewer

If you are building a new home in an old neighbourhood you will also have all your water/sewer lines already in place. Many would argue that these old lines may be crumbling or in need of replacement but once again the city has crews designated to replacement of water/sewer lines and it is likely that your lines may be almost as new as your new home.

 

Urban Infill Design. Image via map-arch.net.

 

9. Carbon Emissions

Driving from 30km’s away from work or 4km’s away from work twice a day are two totally different carbon scenarios. Sitting in rush hour traffic (while you idle emissions) is no fun either., Getting home to your family, your pet or just the serenity of your home sooner is worth an invaluable amount to your life`s happiness. Never mind the fact that as an urban dweller you will walk to more meetings, coffee dates and movies completely leaving the car at home all together.

The list is endless in support of urban infill development. If you are considering a new build take a look at an infill build, the process, the customization, your travel time to work etc. You may just find that the grass is greener on the `older sod`.

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I have listed a new property at 112 4312 139 AVE in Edmonton.
Prepare to be WOWED! The size, the layout, the ceiling height, the colours, the amenities, the location, the price! This place has it all. Absolutely beautiful neutral toned condo offers all the feeling of a luxury condo without the price tag. You will be completely impressed from the moment you walk through the front door. A well thought out floor plan offers bright spacious rooms, lots of storage space, a huge master bedroom with a massive walk in closet, two full bathrooms...the list goes on. Come see for your self, sometimes the perfect place, with a perfect price tag comes on the market.
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http://www.todocanada.ca/things-to-do-in-edmonton-this-weekend/

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