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EDMONTON HOMES | TESTIMONIALS | MAX & JOANNE

IMG_2166Thanks Norm for helping us find our new home! Your professionalism & service are second to none!!

EDMONTON HOMES | REAL ESTATE STATS FOR AUG 12/13

buying 5Here are the latest month-to-date Edmonton Real Estate Market Statistics as of August 12, 2013.

Average Residential Sale Price: $353,760

Average Single Family Sale Price: $407,122

Average Condo Sale Price: $255,129

Average Duplex/Rowhouse Sale Price: $353,242

Total Sold Month to Date: 416

Average Days on Market: 47

For more information on how much your home is worth, call Norm at 780-991-1313.

EDMONTON HOMES | NORM CHOLAK | EDMONTON EXPERIENCING ROBUST HOUSING MARKET

EdmontonEdmonton, August 2, 2013: Sales of residential properties are up in double digit increments in all categories when compared to last year, according to the REALTORS® Association of Edmonton. Total residential sales in July were up 24.9% year-over-year with 1,875 sales (1,736 reported). Sales figures are adjusted to account for unreported transactions at month end. Prices were also up year-over-year in all categories.

The average price for a single family detached (SFD) property in the Edmonton Census Metropolitan Area (CMA) in July was $410,372, down 0.5% from June but up 3.4% from a year ago. Condominium average prices dropped 7.4% m/m but were up 2.6% y/y at $242,516. Duplex/row house prices were up 8.6% y/y (down 2.8% m/m) at $330,906. The all-residential average price in the Edmonton CMA in July was $350,726 (down 2.5% m/m, up 3.3% y/y).

“These are the highest figures for July that we have seen since 2009,” said President Darrell Cook. “Prices and sales have peaked for the year and the month-over-month numbers are lower than June but when compared to last year our market is very robust. Although listings are up over the same time last year, our inventory has slipped by almost 250 units. Going forward, some buyers may have to consider compromises to find their new home in this market.”

The sales-to-listing ratio of 68% was the result of 2,543 residential listings and 1,736 residential sales in July. The total value of real estate sales through the Edmonton Multiple Listing Service® System in July was $814 million; up 18% from July 2012.

Environics Analytics, a Toronto-based data analytics firm, reported last week that the average net worth of an Edmontonian was $433,970 in 2012, up 1.6% from 2011 as compared to the Canadian average net worth of $400,151.

“Despite the rain and flooding in Alberta last month, the housing market has thrived,” said Cook. “Edmonton has jobs, housing options, and an economy that is attracting newcomers to the city and ensuring that current residents have an appealing lifestyle.”

The average days-on-market was down one from July 2012 at 49 days, which means that an average sale was completed in about a month and a half.

MLS® System Activity (for all-residential sales in Edmonton CMA1)

July 2013 M/M %  Change Y/Y % Change
SFD2 average3 selling price – month $410,372 -0.50% 3.40%
SFD median4 selling price – month $385,000 1.30% 5.90%
Condominium average selling price $242,516 -7.40% 2.60%
Condominium median selling price $225,000 -7.20% 2.30%
All-residential5 average selling price $350,726 -2.50% 3.30%
All-residential median selling price $335,000 -1.00% 3.10%
# residential listings this month 2,543 -6.20% 5.70%
# residential sales this month 1,736 1.90% 15.70%
# residential inventory at month end 5,834 -4.00% -6.60%
# Total6 MLS® System sales this month 2,320 0.60% 12.90%
$ Value Total residential sales this month $704 million -2.30% 16.10%
$ Value of total MLS® System sales – month $814 million -3.20% 16.60%
$ Value of total MLS® System sales – YTD $5.01 billion 2.18% 4.20%

 

Article courtesy of REALTORS© Association of Edmonton

EDMONTON HOMES | REAL ESTATE STATS FOR AUG 6/13

Edmonton Real Estate Stats 6Here are the latest month-to-date Edmonton Real Estate Market Statistics as of August 6, 2013.

Average Residential Sale Price: $353,455

Average Single Family Sale Price: $383,993

Average Condo Sale Price: $280,928

Average Duplex/Rowhouse Sale Price: $307,044

Total Sold Month to Date: 135

Average Days on Market: 48

For more information on how much your home is worth, call Norm at 780-991-1313.

EDMONTON HOMES | NORM CHOLAK | 4 WAYS TO MAKE SURE THAT YOU ARE BUYING THE RIGHT HOME

Buying the Right Home(NC) – Finding a home and getting a deal signed, sealed and delivered is one of the biggest and most emotionally-charged decisions that people ever make.

In fact, a recent Bank of Montreal report found that 80 per cent of prospective homebuyers know if a house is “the one” the moment they step inside.

While that initial feeling is important, buyers should keep in mind that there are several other factors to consider before making a final decision.

Here are four important steps for prospective buyers to take before making any decisions:

• Talk to the neighbours: The best way to get an idea of what it would be like to live in a particular neighbourhood is to talk to someone who already lives there. Chat with neighbours about the community, schools, commute and any potential surprises that you should know about.

• Work with a local Realtor: Look for a Realtor who works in the area and knows the ins and outs of the community. Asking friends, family and colleagues for references is a great place to start.

• Get a home inspection: A home inspection reports on the condition of the roof, structure, foundation, drainage, heating, cooling, plumbing, insulation, walls, doors and electrical system. The cost of a home inspection can vary so do your research and make sure to choose a qualified home inspector who will also inform you of the scope and limitations of the inspection.

• Check with the city: Visit your local building department and find out if any new developments are planned. Check to see how many owners have applied to build homes or additions that are larger than the by-law permits – this gives an indication of the neighbourhood’s future.

When it comes to making a home buying decision, do your homework and be sure to enlist a real estate professional to guide you through the process.

www.newscanada.com

EDMONTON HOMES REAL ESTATE STATS FOR JULY 29/13

House for sale in calgaryHere are the latest Edmonton Real Estate Market Statistics as of July 29, 2013.

Average Residential Sale Price: $343,908

Average Single Family Sale Price: $398,614

Average Condo Sale Price: $244,854

Average Duplex/Rowhouse Sale Price: $322,793

Total Sold Month to Date: 1,703

Average Days on Market: 46

For more information on how much your home is worth, call Norm at 780-991-1313.

EDMONTON HOMES | NORM CHOLAK | HOW TO TAKE YEARS OFF THE LOOK OF YOUR HOME

Take years off the look of your home

(NC)—Maybe your home is a little down-at-the-heels and you haven’t noticed, let alone done anything about it. Not to worry, the following are some tips for an update that are neither difficult nor time-consuming:

The world’s at your feet

Wall-to-wall carpeting can really look like yesterday’s news so do the easiest thing: Pull it up and expose what’s beneath like shiny hardwood or polished concrete. It will be cool on the feet and to the eyes. Throw down a faux cowhide or two if you feel a little “warmth” is needed. They’re easy to clean with a quick sweep of the broom and are appropriate with a wide gamut of décors.

If you don’t like what’s underneath, consider staining a wood floor a lighter or darker hue—pure white and ebony are hot right now, or stenciling it.

For something super-easy, add a border to an area rug. Glue-gun contrasting suede on a sisal, for example. It not only produces a more expensive appearance, but personalizes it.

Dress up and down the windows

The key to modernizing window treatments is to make changes that not only look good, but allow the window to perform more efficiently. Have you had mini-blinds since the 1960s? For a more formal, yet still leisurely atmosphere, exchange them for versatile Vignette Modern Roman Shades. To make the window treatment even more current, there are mobile apps available that allows you to control motorized products by shade, room, time, or activity. In advance, just set everything as you want it so that when you arrive home, there’s nothing to do but relax.

Fool the eye

Kitchens are among the first rooms to show their age. One way to fix them up is to reface cabinet doors. There are a variety of brands available that are installed over existing frames for a perfect fit and enhanced functionality, and you can choose many details, too, from drawer glides to ornamental accents. Center a coordinating area rug on the floor, and there’ll be no mistaking it for any time but the present.

The good kind of mold

Whether it’s because they were built when cost was an issue, or an absence of imagination, many older homes lack wall molding. Similar to the right window dressings, molding provides the polished detailing that gives any room the designer touch.

When it comes to selecting the motif, think about the overall feel of the room. You wouldn’t want molding à la the Palace of Versailles in an airy loft or something plain in a palatial salon. They should complement each other. Also key to selecting the right ones is that they be proportional to both the size of the room and the height of the ceiling.

The best quick-fix

Painting might be the fastest and easiest alteration one can make to a room. There are certain colours and combinations—avocado, deep pink, turquoise with brown and orange to name a few—that shriek “old-fashioned.” So rifle through your favorite magazines or sites and pick a new palette. It can completely transform a room’s mood from yesterday to today. If a total re-do is too radical for the moment, try painting one accent wall, perhaps in the niche of a large room, to establish a cozy spot for reading.

Add your own special touch

Just as you accessorize your wardrobe to suit your lifestyle, do the same with your home. If you have an old-fashioned, bedside table left over from childhood, replace it with a clean-lined chair or stool with a flat, wide seat. Is your bathroom from the Victorian era? Paint the claw-footed tub, and slipcover a chair with terrycloth to match—very spa-like and fun. As importantly, break up suites of furniture. Nothing is more yesterday than matchy-matchy, be it in the living-, dining- or bedroom.

There’s nothing like changing the décor to update an entire house. And be brave. Unlike a real facelift, whatever you do in your home can be fixed easily and inexpensively.

www.newscanada.com

EDMONTON HOMES REAL ESTATE STATS FOR JULY 22/13

Edmonton Real Estate Stats 4Here are the latest Edmonton Real Estate Market Statistics as of July 22, 2013.

Average Residential Sale Price: $341,229

Average Single Family Sale Price: $396,319

Average Condo Sale Price: $243,497

Average Duplex/Rowhouse buy ativan online Sale Price: $317,480

Total Sold Month to Date: 1,199

Average Days on Market: 45

For more information on how much your home is worth, call Norm at 780-991-1313.

EDMONTON HOMES | TESTIMONIALS | JO-ANN

IMG_2165I can describe Norm’s service in one word…SPECTACULAR!

My house sold in ONE DAY!

I am so grateful to Norm for his hard work and I am recommending him to everyone I know. Thanks Norm!

EDMONTON HOMES | NORM CHOLAK | CANADIAN HOUSING MARKET IS STABLE

Canadian Housing MarketIn the Canadian Housing Market, Stable is the Word.

After three years of varied periods of growth and decline across the country, the Canadian housing market is starting to stabilize, according to the latest housing report released by Genworth Canada. While the economy continues to strengthen, modest growth in the housing market is the trend for the next five years.

The current condition is due in part to the tightening of regulations, but also continued warnings to consumers on their debt levels. Consumers appear to be heeding the advice and stabilizing their financial position before the Bank of Canada begins to raise its rate. The Spring 2013 Metropolitan Housing Outlook notes that healthy employment gains since the end of the recession have helped move mortgage payments in arrears and bankruptcies to a downward trend, except in British Columbia where payments in arrears have flattened after an upward trend from 2008 to 2010. Despite the low interest rates, price growth for both new and existing homes has been decelerating. The report also notes that while total mortgage approvals are falling, this decline is entirely fuelled by resale homes, as mortgage approvals for new homes increased by 3.4 per cent.

The Prairies are experiencing the strongest growth in home pricing, propelled by strong economic growth, rising employment and sustained residential demand.

Alberta saw the greatest population growth among the six regions, as well as housing starts surging to a post-recession high in 2012; housing starts are expected to continue to grow through 2013 and 2014.

Source Genworth Canada.