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Property for Sale in Edmonton

Correctly Pricing Your Property for Sale in Edmonton

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When it comes time to set a price for your property for sale in Edmonton, many questions are bound to arise. As real estate agents, pricing your home correctly is part of our job. However, we draw from a number of sources in order to determine the listing price that your home will hit the market with. Things like government assessments and the overall state of your home, all have their place when it comes to pricing your home for sale. When selling your home, it is important that your listing price is reflective of the home’s true value. Overbidding and underbidding can reduce traction to your listing. Because of this, it is essential that your listing is priced correctly at the time it hits the market. Follow along as we go through the top four contributors that help us accurately price your property for sale in Edmonton. 

Government Appraisals on Your Property for Sale in Edmonton.

Government assessments of your property are a key piece of information when forming the price point of your home. These numbers can shift one way or the other, but in general, they should be reflective of your home’s true value. The City of Edmonton will visit your property annually to determine the cost you will contribute to your property taxes. However, a government assessment of your home and a real estate agent’s appraisal of your home will be slightly different. This is because an agent will factor in renovations, special features, location, style, and more. All of these qualities are likely to affect the overall price. For example, a freshly remodeled home will have a higher value than one that has not been remodeled on the same street. Other factors such as landscaping and zoning will also come into play. 

Comparable Properties in Your Area

Property for Sale in Edmonton ab

One of the most important determinants of the price of your home has to do with comparables. When trying to establish the price of your home, real estate agents will compare your home with similar properties that are for sale in the area. By using the MLS®, REALTORS® are able to quickly source tons of information about all of the listings in your area. This data can then be used to formulate an estimate for the price of your home. Similarly, if a house on your street just sold, they’ll be able to see what it sold for and use that information to ensure your home is priced accordingly. This is one of the most important steps in the home pricing process.

Present State of Your Property for Sale in Edmonton.

The present condition of your property is a big component of the cost of your home. An agent will often pay close attention to your home’s current state when they are researching the right price point. If your home needs certain repairs or a good cleaning, its value will likely do down. Characteristics like an outdated kitchen, unkept exterior, and unfinished renovations are all things that will lower the listing cost of your home. However, there are a few ways you can fix these problems to ensure your home is reflective of its true value. For instance, try adding a fresh coat of paint to the walls (ideally a neutral colour) to get rid of any foul odours and breathe some life into your home. You can also complete any unfinished home projects that you have on the go. It is important to remember that most buyers are looking for a home that is move-in ready. 

Current Market Condition

The time at which you choose to sell your property for sale in Edmonton can significantly impact the profit you make off of your home. Depending on the time of the year and the current market condition, the amount a buyer is willing to pay will change dramatically. For example, a home that is being sold in winter might sell for a lower price than a comparable home in the summer. Although, this is all dependent on when the buying/selling season is in your area. When it comes to pricing your home, the time at which you list will affect the initial cost. In order to ensure you are selling your home at the right time, your agent will be able to provide you with a market report. This will give you all the data you need to determine if it is the right time to sell. 

For more information on how your real estate agent prices your property for sale in Edmonton, contact us today. We’d be happy to provide you with some insight into how we estimate your home’s value. Feel free to reach out at any time with questions or concerns you may have. Be sure to check out our social media here, we look forward to hearing from you!

homes in edmonton

Navigating Homes in Edmonton as a Buyer.

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Understanding the difference between a buyer’s market and a seller’s market is critical when you are looking for real estate. Timing is so important when you want to buy or sell homes in Edmonton. Navigating the housing market as a buyer can be tricky, especially when the conditions aren’t ideal. In this article, we are going to go through some tips and tricks to help you navigate home buying. As well as, the difference between a buyer’s and seller’s market. Follow along below to learn more!

Buyer’s Market Vs. Seller’s Market.

The difference between a buyer’s and seller’s market has to do with supply and demand. A buyer’s market often happens when a change in the market occurs that favours buyers over sellers. For instance, if there is an increase in supply and/or a decrease in demand the market will likely shift to favour buyers. In a buyer’s market homes usually sit on the market for longer periods of time and sell for a lower price. There is often more competition between sellers via price wars during a buyer’s market. 

By contrast, a seller’s market will typically occur in the event that there is a low supply and high demand. This generally causes a seller’s market because buyers will get highly competitive with one another via a bidding war to secure a home. Thus, causing the listing price of homes to drive upwards. The lack of supply during a seller’s market will usually create a tense environment between buyers. 

The most recent example of a seller’s market would be 2021 to early 2022 in most provinces across Canada. Post-pandemic, many people were looking for new homes and supply was at an all-time low across the country. This caused one of the hottest seller’s markets ever recorded. In fact, many major cities are still experiencing the heat of low supply and high demand in Canada. 

How to Buy Homes in Edmonton?

During a Buyer’s Market:

It can be tricky to buy homes in Edmonton, especially if you’re new to the city or a first-time buyer. Now that we have gone over the difference between a buyer’s and seller’s market, it is important to identify which of these you are stepping into as you look to buy homes in Edmonton. If the market is favouring buyers, then you shouldn’t have too much of an issue when it comes to securing a property. In fact, you may have more time to make a decision and shop around for a home you love. 

During a Seller’s Market:

On the other hand, during a seller’s market, it is crucial that you are overly prepared. Seller’s markets can be extremely heated for buyers and it can be hard to secure a home. So, before you begin the house hunt, you need to determine a few key factors. 

First off, you will want to decide on the area(s) that you are interested in buying a home in. Then, you can see what houses are selling for and how long they are sitting on the market in that location. This will give you a good idea of what budget you’re looking at and how quickly you’ll need to make an offer on a home. Secondly, you will want to hire a great real estate agent. Having an experienced real estate agent by your side will help smooth the process. Especially when the market is scorching hot. 

Next, you’ll need to determine what you are willing to compromise on. Whether that be location, number of bedrooms, size, yard space, etc. It is important to know what your negotiables and non-negotiables are. Furthermore, as a buyer, you’ll need to line up your financing. This means going to a mortgage broker and getting a pre-approval from 2-3 lenders. Having a mortgage pre-approval can help you prove to sellers that you are serious about buying their home.

Contact Us About Homes in Edmonton.

It is vital that you understand the difference between buyer’s and seller’s markets when you go to purchase homes in Edmonton. If you are looking to buy a home during a seller’s market make sure you are prepared. Deciding to buy homes in Edmonton can offer you more financial comfort. If you have any questions or concerns about buying houses in Edmonton, contact us today. Be sure to visit our social media for the latest updates and more. Don’t hesitate to reach out if you’re interested in a specific property. Our team will get in touch with you as soon as possible! We look forward to working with you in the near future.

Prepare your home for sale this fall

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Prepare your home for sale this fall

Well the fall season is now upon us in Edmonton, and this is the perfect time to get your home ready for Sherwood Park real estate.

Fall in Sherwood Park generally starts in September and stays around until about late October. The temperature is going to drop and people are going to start changing shorts and sandals, to jeans and shoes. People may be starting to focus on Sherwood Park real estate now that the summer is over. Here are some tips on what you can do to prepare your home for sale this fall.

sherwood park real estate,sherwood park real estate agents,windermere real estateYard Work
You’ll want to make sure there are no leaves or debris in your yard, especially when those leaves start falling. Make sure that any plants or trees near the house are trimmed down, so that they are not blocking any window views and let the sun shine in.

 

sherwood park real estate,sherwood park real estate agents,windermere real estateWindow Cleaning
Most people don’t realize that the summer can wreak havoc on your windows. As there isn’t much rain happening in the summer, people don’t think your windows can get that dirty, but don’t forget about the dry dust and dirt being blown around in the wind. When preparing your home for sale you’ll want to make sure your windows sparkle. Potential buyers will definitely notice smudgy windows. You will want to wash the windows inside and out.

sherwood park real estate,sherwood park real estate agents,windermere real estateSweep that Chimney
As the temperature falls you may want to start using that fireplace to keep warm and get that nice wood-burning smell in your home. But before you do this, you’ll want to make sure you clean that chimney. You can sweep it yourself to get those cob webs and dust out, but hiring a professional would be the best bet, as you’ll want that chimney to be perfect.

 

These are just a few tips to prepare your home for sale this fall for Windermere real estate. For more information contact your local Sherwood Park real estate agents, RE/MAX Elite, today!

4 Cost effective improvements you can make to your home

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When people are looking to list their home for sale they often overlook the improvements they can make to the exterior of the home and just focus on the interior. When people are looking at Edmonton Homes for Sale the exterior is the first thing they see when they pull up to your house, so making sure the exterior looks its best is very important. Here are some cost effective ways you can improve the exterior of your home.

Edmonton Homes for Sale,Sherwood park real estate agents,Homes for Sale in EdmontonClean the yard

One of the most effective and easiest things you can do to improve the exterior of your home, is keeping the yard clean and decluttered. This tip is the easiest and takes the least amount of time, but is very effective.

 

Lawn maintenance

Now that the yard is clean and clear of clutter, it’s time to do some landscaping. This doesn’t mean you need to invest hundreds of dollars into new plants, ornaments, etc. Even just by mowing the lawn, trimming trees or bushes, and cleaning up pathways can really spruce up the look of your yard.

Edmonton Homes for Sale,Sherwood park real estate agents,Homes for Sale in EdmontonRoof repairs

This one alludes a lot of people but is actually one of the most important. Your roof over time can take a lot of damage and cause leaks that can be very expensive to fix, especially if there is water damage in your home. Roof repairs can be pricey, but not if you do your research. Speak with Sherwood park real estate agents to see who they would recommend for fair pricing.

Upgrade the front door

You may be confused by this one, but the entrance to your home is actually quite important, as you want to make your guests feel warm and welcomed into your home. Replacing your front door or even just doing some minor upgrades is very cost effective. If you have a nice door but feel it just needs to be improved, replacing the door handle and lock, as well as painting it a nice accent color can really improve the entrance way.

There are many ways that you can improve the exterior of your home. So if you’re looking to improve your homes exterior, contact your expert Sherwood park real estate agents today!