Darlene Reid, Chair of the REALTORS Association of Edmonton states that Edmonton's market is strong, despite national headlines claiming declines in the housing market across Canada.  Edmonton is position well to weather this tariff storm with Edmonton being one of the most affordable major cities across Canada.  Edmonton has also been proactive in new building starts and amendments to the zoning bylaws and permitting processes to expediate new construction.  Read more: 

Very strong market: Edmonton real estate market continues to grow | Edmonton Journal

Despite Alberta accounting for 12% of Canada's population, our housing new starts account for 25% of the total new housing starts in Canada.  Alberta has been very diligent in assessing our zoning bylaws, looking at alternative manufacturing methods (prefabricate and offsite construction technology), and expediting permitting processes in municipalities.  For more information and the full story visit: Lorne Gunter: Alberta shows path to easing Canada's housing shortage | Edmonton Journal

Maclean’s highlights 25 actionable ideas to make housing more affordable—ranging from policy changes to innovative construction and community-driven initiatives.

It’s going to take governments, the private sector, and non-profits working together to create real change. Let’s keep the conversation going! 💬

Check out the full article here: macleans.ca #HousingCrisis #AffordableHousing #RealSolutions

Despite the impact of U.S. tariffs on construction costs, Darlene Reid, Chair of the Board for the REALTORS® Association of Edmonton, remains hopeful. She emphasizes that demand for housing in Edmonton is strong, and builders are adapting to the changing environment. There’s still plenty of opportunity for growth in the city’s real estate sector!

Read more about how the market is adapting: edmontonjournal.com

#EdmontonRealEstate #HousingMarket #Resilience

Welcome to this exquisite two-storey residence, meticulously constructed by Concept Homes, that embodies both luxury and comfort. Boasting an array of sophisticated features and high-end finishes, this home offers a serene lakeside lifestyle without sparing urban conveniences. Located in a picturesque setting with breathtaking views of Roundel Lake, this property is within close proximity to schools, playgrounds, a library, and shopping areas, ensuring everything you need is just a stone's throw away.

Key Features:

Sophisticated Design - The main floor features 9-foot ceilings, engineered hardwood flooring, and a stunning cathedral ceiling, creating an open, airy atmosphere that is both inviting and impressive.

Versatile Living Spaces - A versatile bedroom/office on the main floor alongside a full bathroom caters to both professional and lifestyle needs, offering flexibility and convenience.

Gourmet Kitchen - Equipped with quartz countertops, under-cabinet lighting, a roughed-in garburator, and full-height cabinetry, the kitchen is a chef's dream. It seamlessly connects to a spacious dining area, perfect for hosting dinner parties or enjoying family meals.

Outdoor Living - Extend your living space outdoors with a no-maintenance composite deck that spans the width of the home, offering a tranquil spot for relaxation or entertaining with a view.

Luxurious Upper Level - The upper level hosts a bonus room with vaulted ceilings, two bedrooms, convenient upper-level laundry, and a magnificent primary suite. The suite features a custom walk-in closet and an ensuite bathroom equipped with a soaker tub and oversized shower, ensuring a private and luxurious retreat.

Premier Upgrades - This home comes with numerous upgrades, including an HRV system, Hunter Douglas blinds, upgraded underlay, a built-in vacuum system, and some newer triple-pane windows for enhanced comfort and energy efficiency.

Exquisite Lot - Situated on a meticulously landscaped lot, this home not only offers stunning views of Roundel Lake but also ensures privacy and serenity in your backyard oasis. 

Nestled in a vibrant community, this property provides easy access to local amenities, ensuring a perfect balance of natural beauty and convenience. Whether it's the calmness of the lake, the proximity to educational institutions, or the ease of shopping and leisure, this location has it all.

This property stands as a testament to luxury living in harmony with nature. Impeccably maintained and showcasing unparalleled attention to detail, it promises a lifestyle of comfort, elegance, and tranquility. Experience the best of both worlds in this remarkable lakeside home.

Contact us today to schedule your private viewing.  

Click Here To View The Virtual Tour

Navigating Success in Real Estate: A Journey to "Yes"

In the world of real estate, the path to finding your dream home is often as intricate and winding as the decision-making process itself. It's a journey that requires more than just an eye for the perfect property—it demands negotiation skills, market insight, and an unwavering commitment to achieving the best possible outcome for everyone involved. This story, featuring our wonderful clients beaming beside their new home with a "We Said Yes to the Address" sign, encapsulates the very essence of perseverance, strategic negotiation, and the pivotal role of a dedicated REALTOR®.

Our clients, like many others, faced the daunting task of selling their condo under less-than-ideal circumstances. A deal had collapsed due to financing issues, and they were up against tight timelines that added layers of stress to an already complex situation. However, this is where the value of having a seasoned real estate professional becomes unequivocally clear. Our team stepped in, armed with experience and a deep understanding of the market, ready to turn the tide in their favor.

The Art of Negotiation in a Multiple Offer Scenario

The real estate market can be fiercely competitive, particularly in sought-after neighborhoods. Our clients found themselves in a multiple offer situation, a scenario that can be as challenging as it is exciting. This is where our expertise in negotiation shone brightest. Through strategic bidding and leveraging our in-depth knowledge of the market, we successfully secured their dream home without overstepping their budget. Winning in a multiple offer situation is no small feat—it requires precision, timing, and a keen understanding of the seller's motivations, all of which we navigated with our clients' best interests at heart.

Saving Thousands and Earning Cashback

Beyond the triumph of purchasing their new home, our clients also reaped significant financial benefits from the sale of their condo. Despite the stressful circumstances and the collapsed deal, we managed to pull everything together in time. Our innovative marketing strategies and negotiation tactics not only saved them thousands on listing side commissions but also ensured a smoother, more profitable sale. 

Moreover, we were thrilled to offer them a cashback check on their purchase. This additional financial boon can go a long way in easing the transition to a new home. Whether it's covering moving expenses, closing costs, investing in new furniture, or even funding a well-deserved vacation, this extra cushion provides our clients with the flexibility and freedom to make their new house a home on their terms.

The REALTOR® Difference

This journey underscores the critical importance of having a knowledgeable, experienced REALTOR® by your side. Real estate transactions are intricate, often unpredictable, and laden with potential pitfalls. Our commitment to our clients extends beyond mere transactions; it's about providing a supportive experience that navigates them through every twist and turn of the process. From overcoming financing hurdles to winning in multiple offer situations and securing financial advantages, our goal is to ensure that every client feels supported, informed, and ultimately thrilled with their real estate experience.

As our clients stand in front of their new home, their smiles captured in the photograph with the "We Said Yes to the Address" sign, we're reminded of the journey we embarked on together. It was a path fraught with challenges, but through collaboration, expertise, and determination, we turned potential obstacles into a success story. This image is more than just a snapshot of a happy moment; it's a testament to what can be achieved when you have the right team by your side.

In the world of real estate, every transaction is a journey, and every journey has its story. Ours is one of resilience, strategic negotiation, and the unwavering belief in making dream homes a reality. If you're embarking on your own real estate adventure, remember—the right REALTOR® can make all the difference. Let's make your success story our next triumph.

There is a famous saying that goes:  “May you live in interesting times”.  It sounds pleasant, but it is intended as more of a curse.  Many of us probably feel that some “uninteresting” times would be a nice change right about now, yet it seems like the only thing that is certain these days is more uncertainty.

No one can predict the future, but if you’re trying to make some big plans then all you can do is make the best prediction that you can, based on the best available evidence.  Take the Oilers, for example.  They SHOULD make the playoffs, given their track record of success over the second half of a season.  Should you bet your house on it?  Probably not.  But it might make sense to plan some “wings and nachos” watch parties come playoff time.

And speaking of houses, there are plenty of headlines and concerns around the real estate market these days.  To be fair, factors such as Covid, higher interest rates, and inflation are continuing to have noticeable effects on the market.  But what is really going on?  There are two main questions that people ask: what are properties worth these days, and what direction will the market take in the coming year?

Before we get to the future, let’s take a quick look at that first question: determining a property’s “value”.  Many people ask about a property’s “assessed value” as a way to gauge that property’s “market value”.  While those two figures MAY be close in a lot of cases, a property’s assessed value can be quite unreliable in estimating its current market value.

Municipalities base their assessments on value estimates from July 1 of the previous year using a mass appraisal approach.  So not only is it out of date (relative to the prices being paid for homes in real time), it does not take into account the actual state of an individual property (for example, it’s condition, finishing and unpermitted upgrades).   It is also used for municipal tax purposes and it is not meant to be a determination as to what a property can or should sell for. The real estate “market” (buying and selling) is where the best estimate of market value can be obtained.  The market value is simply what a buyer is willing to pay, and a seller is willing to accept, for a given property under current conditions.

So how do we estimate a property’s market value?  By looking at recent property sales.  That tells us what people are actually paying for homes right now, under current conditions.  But of course, there are many factors that can distinguish one property from another for comparison purposes so it is a good idea to consult a professional REALTOR® for a market assessment.  REALTORS® know how to obtain relevant and accurate data, and they are trained in evaluating it.

So what will happen in the “market” in 2023?  After a relatively hot 2022, the REALTORS® Association of Edmonton is predicting an average price decrease of 2.9% on detached homes and a 1.1% price decrease for apartment style condos.  In terms of sales volume, they are predicting an 11.8% decrease in the number of single family detached home sales, but even with that decrease, the sales volume should still be higher than in 2018 and 2019.  Also, the Association is predicting a 1.3% increase in the number of sales of apartment style condos.  Essentially, this means we are expecting more of a balanced market that is falling back in line with pre-covid market conditions and trends.

Interest rates are certainly driving buyers to lower price points, but people are still buying; Alberta is still experiencing growth as people migrate here from more expensive areas in Canada, like Vancouver and Toronto.  These opposing forces are helping to drive the market toward stability in 2023.  Overall, no major price swings or overheated market conditions are expected.

At least from a real estate perspective, we are thankfully getting back to some less “interesting” times.

 Take a look at the Greater Edmonton Market Update for October, 2022.

Have questions? Click on the contact tab and we will be happy to help!

Take a look at the Greater Edmonton Market Update for September, 2022.

Have questions? Click on the contact tab and we will be happy to help!