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May14.pdf (548 KB)

• Average single family home price in January, $362,926
• Average single family home price in February, $375,268
• Average single family home price in March, $380,083
• Average single family home price in April, $382,384

Sellers seem to be finding inspiration in the trend, as more and more For Sale signs hit the lawns. For buyers, the gradual nature of the price increases give the sense that you don’t have to rush into a decision. Prices aren’t fluctuating wildly. At the same time, you can see how much even these slight increases month-to-month have made a difference from January to April. So if you’re at a time in your life where a move to a single family home is something you’re considering, remember that your local REALTOR® is here when life happens. 

Here in Edmonton, CMHC reports that the market is "well-supplied" but that the inventory is trending down. Competition is keeping the prices down and as a result the supply of units under construction is flat. Unless builders can recoup their investments they are not going to start a project that could take up to five years to build and ten years to sell through.

On the MLS® System in mid-May there were 1,928 condos available with an average price of $258,976 (Edmonton city only). This does not include the entire stock of available condos since many builders do not list their properties on the MLS® System and choose to sell them privately. In the past 90 days 1,017 condos were sold in Edmonton. This suggests that there is an overall supply of condos that would last 4.7 months even if no new inventory was listed. Six months supply is considered normal so there is no cause for concern.

Some builders do list property for sale on the MLS® System and they are marked as "New - never occupied." There are currently 101 units available and 65 sold in the past 90 days. This results in a supply of 3.2 months for this specific product. Still not indicating an over-supply. 

In the article referenced above, Bank of Montreal analyist Robert Kavic was quoted as saying that "condo conversion is running a bit ahead of household formation." It's hard to find "household formation" numbers but we know that condos are purchased by baby-boomers downsizing, born-again singles, young couples who want an affordable first home, both male and female singles and new people coming into the Edmonton area to take advantage of our economic growth and prosperity. 

In migration to Alberta is positive (inflow exceeds outflow) and when people come here they don't typically bring their housing with them. When they first arrive, many newcomers rent. Since the apartment rental market is tight, they may end up in a rental condo. That demand incents small investors to buy condos to rent out. That creates demand for smaller, simpler, less expensive condo construction, so more condos get built. 

But investing is not for everyone. The banks are reporting that the mortgage default rate in Alberta is the highest in Canada, a shocking 0.7% (compared to 7-8% in some parts of the United States). Many of these are investor owned properties which were bought during the boom years and cannot be rented profitably and cannot be resold for what the investor paid for them. After a few years of losses they are defaulting and walking away if they cannot sell. It may be financially difficult for the investor but the action is not indicative of families losing their homes.

So in conclusion, the Edmonton and area market is stable, not in a bubble and solid investments in housing will pay off in the long term. There are very few easy, get-rich scenerios. Discuss your needs and personal situation with a local REALTOR® and he or she will be able to guide you in your real estate investment decisions. 

Royal Bank of Canada chief executive officer Gordon Nixon sums it up, "There are concerns about the condo market in Vancouver, but they aren`t indicative of the housing situation across Canada." (emphasis mine). 

Not surprisingly, Doug suggested that you confer with a REALTOR® to determine a reasonable asking price and try to avoid making the pricing decision based on the emotion you have invested in your home. He went on to suggest that you make your home as attractive as possible with minor fixups or even having it staged by a designer or professional home stager. Finally he suggested that you review the marketing plan and pricing strategy with your REALTOR® if the home is not getting the attention it requires to attract offers. 

Doug and Dez will talk real estate every second Thursday of the month on CTV Morning Live at 7:45 am. Current market stats can be viewed at EREB.com. Home purchasign or listing advice is available howREALTORShelp.ca.

So far, he doesn't see it.

The Central 1 Credit Union chief economist instead says prices aren't soaring dramatically and he expects continued stability over the short term in the Lower Mainland.

"The Vancouver market is still obviously very expensive," Pastrick said. "But it's not skyrocketing away from us. Nor is it likely to fall into the tank either."

Full article - http://tinyurl.com/dxyvhv9

The Real Estate Board of Greater Vancouver's benchmark price for all residential homes was up 2.8 per cent in the last three months to $683,000 in April, and is up 3.7 per cent from a year ago.

Detached house prices have been the strongest, up 6.3 per cent from a year ago, while condos were up just 1.1 per cent.

Benchmark prices released by the Fraser Valley Real Estate Board were up 5.3 per cent year-over-year to $576,600 for detached houses in April, although that number was down two per cent from March.

Townhouses were up 1.9 per cent from a year ago to $318,400 and condos rose 0.8 per cent to $205,800.

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In fact, April saw 7% more residential properties than the month before. This is providing the variety that buyers are looking for. The price increases have been logical and incremental, meaning buyers are still finding the stability that they’re looking for. So while the amount of activity means things are far from quiet, there is a sea of calm in the local real estate market. No one can help you chart your course on that calm sea like your Local REALTOR® – here when life happens. 

Edmonton, May 8, 2012 – According to preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC), housing starts in the Edmonton Census Metropolitan Area (CMA) increased in April to 967 units from 758 starts in April 2011. For the year-to-date, housing starts totalled 3,172 units, up from 2,323 during the first four months of 2011.

Across the Edmonton CMA, 493 single-detached units were started in April, up 13 per cent from the 436 single starts in April of last year. “This is the fifth consecutive month where starts were higher on a year-over-year basis,” said Christina Butchart, CMHC’s Senior Market Analyst for Edmonton. Inside Edmonton City limits, 313 single-detached units broke ground, up nine per cent from a year earlier. Year-to-date, 1,576 single-detached starts were recorded within the Edmonton CMA, representing a 27 per cent increase from the same period of 2011.

Multi-family starts, which consist of semi-detached units, rows, and apartments, increased in April by 47 per cent year-over-year to 474 units. Gains were most notable among semi-detached units where foundations were poured for 196 units in April, up from 124 a year earlier. Multi-family housing starts within Edmonton City totalled 256 units, up from 217 starts in April 2011. The remaining areas of the CMA saw strong growth with 218 multi-family units breaking ground, more than double the amount of activity of a year previous. “With 1,596 units to the end of April, multi-family starts across the Edmonton CMA were almost 50 per cent higher than the first four months of 2011, accounting for half of all housing starts so far this year,” added Butchart.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

For more information, visit www.cmhc.ca or call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at www.cmhc.ca/housingmarketinformation.>

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For further information, please contact:
Christina Butchart, Senior Market Analyst
(780) 423-8729   cbutchar@cmhc.ca

In recent years urban planner and home builders have created communities which have an additional layer of requirements to which homeowners must adhere. The community designers are trying to create and maintain continuity and uniformity in a community that will enhance the sales appeal and long term value of the homes. Sometimes the builders have added features to the community like pathways, clock towers, entrance gates and fences that will not be maintained by the municipality. To pay for these neighbourhood amenities, each homeowner is required to belong to a Home Owners Association (HOA) and pay a membership fee.

The HOA is identified as an encumbrance on the individual property title and specifies the annual fees, the special restrictions that apply to the neighbourhood and often, architectural controls that determine how your home must look. Each HOA is different but common restrictions are on the parking of RVs, satellite dishes, clotheslines, outbuildings or sheds, fences and landscaping. Sometimes the HOA will specify materials for siding, roofs, grounds and driveways that might require you to replace your roof with cedar shingles that match the neighbours or to have a tree in your front yard. The fees pay for the maintenance of parks, lakes, fences, gateways and other amenities.

Unlike a condominium, the HOA has no ownership stake in your property. You have the same property rights as any other homeowner. The HOA simply involves additional responsibilities. The Association must have an annual meeting and a board of directors and you have the right to attend meetings and vote on fees, regulation changes and other policies. You can elect directors who often volunteer their time to manage the HOA.  The details of your HOA are in the Bylaws of the Association which are filed with the Societies Branch of Service Alberta and are available for a fee from any registry office.

Most homeowners enjoy the additional amenities in the neighbourhood and appreciate that individual idiosyncrasies or style will not adversely affect the cohesive look of the community over time. The annual fees are often minimal and the benefits are obvious. The HOA serves to support the majority view of the residents of the community. However, some owners will resist the additional restrictions and may be happier in a neighbourhood that does not impose the additional requirements. The new buyer must understand both the advantages and the obligations of a property that belongs to an HOA to fully enjoy their new home.

“There is plenty of choice in the market at this time,” said REALTORS^® Association of Edmonton President Doug Singleton. “Single family prices have risen slightly each month this year which is encouraging sellers to list their property.” He urged home buyers to remain calm, to confirm their financing arrangements and to study the market with their REALTOR®. “Of course, when your REALTOR® shows you the ideal home you should move decisively to make an offer and begin the home buying process in case another buyer is also interested.”

In April, the average¹ residential price was up just 0.8% from last month at $337,363. The average price of a single family detached home was $382,384, up 0.9% from the previous month. The average price of a condominium in April was $235,036, up 1.3% from March. Duplex and rowhouse properties sold on average for $329,025; a 3.6% rise from the previous month. Residential prices were also up when compared to a year ago:

·         Single family up 0.4%

·         Condominium up 1.1%

·         Duplex/Row house up 8.9%

·         All residential up 2.99%

The average days-on-market in April was 50 days (down three from March) and the sales-to-listing ratio was 53% (up 2% from last month); both indicators reflecting increased market activity. REALTORS® participated in the sale of $578 million worth of residential property last month and total MLS® activity for the year is $1.5 billion (up 15% from 2011 YTD).

“If a change in your lifestyle requires a change of address, then this a great market to be in,” said Singleton. “Choice of neighbourhoods, variety of housing types and stable pricing may not be available in every market but they are features here in the Edmonton area.”  

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 For release:   May 2, 2012

 Contact:         Doug Singleton, REALTOR^®, 2012 President, 780-431-5600

                        Ron Hutchinson, C.A.E., Executive V.P., 780-453-9340

                        Jon Hall, C.A.E., Manager Communications, 780-453-9323

 Review these statistics and more at www.ereb.com.

 Highlights of MLS^® System activity

 ² Single Family Dwelling

³ The middle figure in a list of all sales prices

⁴ Residential includes SFD, condos and duplex/row houses.

⁵ Includes residential, rural and commercial sales

¹Average prices indicate market trends only. They do not reflect actual changes for a particular property, which may vary from house to house and area to area. Prior period figures have been adjusted to include late reported sales and cancellations and therefore reflect a more accurate view of the period than previously reported at month end. The RAE trading area includes communities beyond the CMA (Census Metropolitan Area) and therefore average and median prices may include sold properties outside the CMA. For information on a specific area, contact your local REALTOR^®.

The REALTORS^® Association of Edmonton (Edmonton Real Estate Board), founded in 1927, is a professional association of real estate Brokers and Associates in the greater Edmonton area. The Association administers the Multiple Listing Service^®, provides professional education to its members and enforces a strict Code of Ethics and Standards of Business Practice. The Association also advertises property listings and publishes consumer information on the Internet at www.REALTOR.ca and www.ereb.com, as well as in the Real Estate Weekly and on their web site at www.rewedmonton.ca. REALTORS^® support charities involving shelter and the homeless through the REALTORS^® Community Foundation.

Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR^®) and/or the quality of services they provide (MLS^®).

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RAEApril30.pdf (553 KB)

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Average Condo price in February: $234,973

Average Condo price in March: $231,629

There were 382 Condo sales in March, leaving ample inventory for anyone interested in purchasing a Condo. There are a number of new properties in this category that might not be listed on the MLS®, in addition to those that are. You definitely have options right now, and your REALTOR® can lead you to the Condo property, new or resale, that makes sense for you and what’s happening in your life. Your local REALTOR® is here when life happens!

Finance Minister Jim Flaherty would consider taking Canada Mortgage Housing Corp.out of the mortgage default insurance business he told the National Post’s editorial board.

He offered no timetable on when the government could get out of mortgage default insurance business, just offering it up as a possibility. “We have a list of Crowns, Crown agencies that are being reviewed,” said Mr. Flaherty.“Over time, I don’t think it’s essential that a government financial institution provide mortgage insurance in Canada. I think what’s key is that mortgage insurance is available at a reasonable cost in Canada. I think there is a role to regulate but whether we, the Canadian people, have to be the owners and shareholders of a financial institution to do this is a question. I don’t think it’s essential in the long run.”

He offered no timetable on when the government could get out of mortgage default insurance business, just offering it up as a possibility. “We have a list of Crowns, Crown agencies that are being reviewed,” said Mr. Flaherty.

For the rest of the story: Financial Post – http://tinyurl.com/7ow6lwc

Ottawa is so concerned about Canada’s booming housing market that it is considering further changes at Canada Mortgage and Housing Corp.

Soaring real-estate prices and household debt are Ottawa’s biggest financial concerns right now, Mr. Flaherty told The Globe and Mail’s editorial board on Friday.

And he is particularly troubled by Toronto’s condo market. Mr. Flaherty said developers appear to be willing to build new units until sales dry up, which could lead to a crash. He is concerned that buyers who enter the market just before the music stops could get burned.

“I do worry about the last person buying a condo in Toronto, and people getting caught,” Mr. Flaherty said.

For the entire story see http://tinyurl.com/7r925qq 

He has seen signs that the banks’ rates are more prudent and they have also tightened their lending practices for condo buildings. Rather than simply looking at how many units have been presold, some banks are now analyzing who those buyers are, how many units they’re buying and where their money is coming from, Mr. Flaherty said.

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Average single family home price in January: $362,926

Average single family home price in February: $375,268

Average single family home price in March: $380,083

It’s only an increase of 1.3% from February to March, but look at the cash difference that two months can make. The average price is more than $17,000 higher in March than January. With speculation that interest rates may rise, many potential buyers will look at the trend in pricing and the opportunities that are present today, and decide that this is the time to make a move to that single family home or condominium. Of course, more than any outside factors, what’s happening in your life will dictate whether this is the right move for you. Your local REALTOR® is here when life happens.

Homeowners face a double dilemma when dealing with the prospect of selling their homes.

How do you make sure the decision to sell is the right one?

When is the right time to sell? Traditionally, the four major reasons why and when people sell their homes are financial and market conditions, employment changes, family matters and life-style changes.

However, the current issue of low interest rates and a large selection of homes also has a great bearing.

These reasons not only affect your decision to sell, they can greatly impact your options about when to sell.

Your REALTOR® can advise on marketing conditions. Sometimes the decision is based on personal situations as well. In either case,  REALTOR®: Here when life happens.

Read more: http://www.vancouversun.com/business/Changes+jobs+family+lifestyle+affect+decision+sell/6452674/story.html#ixzz1rxJdBXpP

Home construction is booming in the Prairies, and Alberta, after years of tepid housing starts, is leading the charge.

The rate of residential construction, especially condominiums, has lagged the oil boom in Alberta in the past few years. But blockbuster housing starts in March — they jumped 72% year over year — hint that residential construction is getting hot again.

The data were released by Canada Mortgage and Housing Corp. (CMHC), and showed that starts grew nationally by 5% to 215,600 from the previous month. Starts in Alberta jumped to their highest levels since March 2008.

See the rest of the story at: Financial Post – http://tinyurl.com/cjtl4lg

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REALTOR® President Doug Singleton talks to host Dez Melenka on CTV Morning News today. This regular segment on real estate will air every second Thursday of the month on CTV. Doug and Dez will bring you the latest news and views on real estate. For up-to-the-minute real estate information consult with your local REALTOR® who has access to property listed on the MLS® System. REALTOR®  information is updated minute-by-minute. It may be up to 48 hours before listed properties appear on REALTOR®.ca.  

For more information go to howREALTORShelp.ca or ereb.com. and follow us on Twitter or Facebook.

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RAEApril9.pdf (548 KB)

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RAEApril9.pdf (548 KB)

Average residential price in March: $335,187 vs $328,094 in March 2011

That’s not a huge increase, but it’s up, and it’s reflective of the calm, orderly, slowly evolving condition of Edmonton Real Estate. It’s generally after this first quarter that we see a large number of buyers and sellers enter the market, so your local REALTOR® is prepared for an influx of activity, and is here when life happens for you!

UPDATED ON: THURSDAY, APRIL 05, 2012

The Canadian Real Estate Association:

Wayne Moen,
President

Edmonton, April 2, 2012: At the end of the first quarter the REALTORS^® Association of Edmonton reports that the average residential price in the Edmonton area is up 2.2% when compared to a year ago. The all-residential average¹ price, at $335,187 compared to $328,094 in March of last year. Single family detached (SFD) and condominium average prices were stable year-over-year with SFD prices up 0.2% and condos down 0.7%. 

“Other markets such as Toronto are reporting feverish real estate activity involving multiple offers and unconditional offers but our market is calm, orderly and slowly evolving,” said REALTORS^® Association of Edmonton President Doug Singleton. “Listing activity is up when compared to last year but sales and inventory are down which could indicate that market activity will pick up markedly as the summer progresses.”

On the Multiple Listing Service^® System, sales and listings by REALTORS® in March were up, with 3,271 residential listings (up 23.5% from February) and sales of 1,533 (up 24.5% from the previous month). As a result the inventory of residential properties available for sale was up 14.6% at 6,851 properties. At the current sales level there are four and half months of inventory available. In total there are 10,640 properties of all types (commercial, rural and residential) on the Edmonton and Area Multiple Listing Service®.

Market stability is reflected in the sales-to-listing ratio which is unchanged from month-to-month. The average days-on-market dropped in March by one day from 54 to 53 and residential properties are selling at about the same pace as this time last year on a year-to-date basis (46%).

In March, the average price of a single family detached home was $380,083, up 1.3% from the previous month. The average price of a condominium in March was $231,629, down 1.4% from the February price (last month the price of condos advanced over 8% in a month). Duplex and rowhouse properties sold on average for $319,020; a 4.1% improvement from the previous month.

“April is the start of the real estate season when people who want to buy and sell real estate are most active,” said Singleton. “There is speculation that mortgage rates will start to rise which makes it more difficult for first time buyers. However, there is lots of choice in our market with new properties coming available daily. Whatever your housing situation you can trust the advice of your local REALTOR^® who is here when life happens.”

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Review these statistics and more at www.ereb.com.

Highlights of MLS^® System activity

² Single Family Dwelling

³ The middle figure in a list of all sales prices

⁴ Residential includes SFD, condos and duplex/row houses.

⁵ Includes residential, rural and commercial sales

¹Average prices indicate market trends only. They do not reflect actual changes for a particular property, which may vary from house to house and area to area. Prior period figures have been adjusted to include late reported sales and cancellations and therefore reflect a more accurate view of the period than previously reported at month end. The RAE trading area includes communities beyond the CMA (Census Metropolitan Area) and therefore average and median prices may include sold properties outside the CMA. For information on a specific area, contact your local REALTOR^®.

The REALTORS^® Association of Edmonton (Edmonton Real Estate Board), founded in 1927, is a professional association of Brokers and Associates in the greater Edmonton area. The Association administers the Multiple Listing Service^®, provides professional education to its members and enforces a strict Code of Ethics and Standards of Business Practice. The Association also advertises property listings and publishes consumer information on the Internet at www.REALTOR.ca and www.ereb.com, as well as in the Real Estate Weekly and on their web site at www.rewedmonton.ca. REALTORS^® support charities involving shelter and the homeless through the REALTORS^® Community Foundation.

Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR^®) and/or the quality of services they provide (MLS^®).

Recognized at the REALTORS^® Ball on March 9, 2012 by the REALTORS® Association of Edmonton was Melanie Boles who received the Volunteer of Distinction Award from the REALTORS^® Community Foundation. The award is presented to a REALTOR^® who goes above and beyond expectations, is a tireless and hardworking supporter of the Foundation, and who gives of their time, their talent, and their heart. Ms. Boles has been involved with the Foundation since 2005 and served as President of the Foundation in 2007. During her tenure she was heavily involved in Ride for KIDS as well as all other Foundation activities. Currently Melanie chairs the Marketing Committee for the REALTORS^® Association of Edmonton.

The REALTORS® Community Foundation presented the Volunteer of Distinction Award to a REALTOR® who goes above and beyond expectations, is a tireless and hardworking supporter of the Foundation, and who gives of their time, their talent, and their heart. This year’s recipient was Melanie Boles of RE/MAX Real Estate.

Melanie Boles has been involved with the REALTORS^® Community Foundation since 2005 and served as President of the Foundation in 2007. During her tenure Melanie was heavily involved in Ride for KIDS as well as all other Foundation activities.

When her term as Governor ended, Melanie still found the time to sit on various committees such as Santa’s Auction, and the Marketing and Audit Committee. Currently Melanie chairs the Marketing Committee for the REALTORS^® Association of Edmonton.

Energetic and a go-getter who takes on a task no matter how difficult, Melanie always has a smile on her face and a positive attitude. In one of Melanie’s last reports as President she spoke about giving, caring, and sharing and those three words sum up Melanie Boles and how she genuinely cares about the community in which she lives, works and plays.

A Special Award of Distinction was presented to Sabo Brothers Realty Ltd. at a gala dinner on Friday March 9 by the REALTORS® Association of Edmonton.  In 1971, four brothers, Andrew, Donald, Emil and Moses formed a real estate brokerage that continues as a family operation today. The family business continued to thrive and eventually other family members joined the team: Margaret in ‘72, James in ‘89, Bethany and James in 2001 and Jordon in 2005. There are nine members of the same family in continuous business together for 40 years. That is an achievement worth celebrating.

SABO Brothers Realty Ltd – Special Award of Distinction

The Board of Directors were delighted to receive a recommendation from the Life Member Award Committee to issue a special award this year to a long-standing company of REALTORS®. On May 28, 1971, four brothers, Andrew, Donald, Emil and Moses formed a real estate brokerage and were admitted to the Association. Andrew had been a real estate associate since 1966 and his brothers followed him into the industry in 1967, 1969 and 1971.

The family business continued to thrive and eventually other family members joined the team: Margaret in 72, James in 89, Bethany and James in 2001 and Jordon in 2005. There are nine members of the same family in continuous business together for 40 years. That is an achievement worth celebrating.

The company has focused on commercial and industrial sales and dabbled in residential when necessary to meet the needs of their clients. An internet search of the company only shows up an address and a phone number. There is no website or promotion on Linked in or Facebook. This is a straightforward, down-to-earth real estate company that survives on solid service, reputation and hard work without resorting to glossy literature, flashy signage or over-the-top promotional schemes. With true modesty, the recipients of this special award have asked a friend to accept the award on their behalf. They just want to quietly go about their business of selling real estate.

The REALTORS^® Association of Edmonton is pleased to present this special Life Time Achievement Award to the family owned and operated brokerage: SABO Brothers Realty of Edmonton.

Their long-time friend and colleague, and former Association President, Barry Gogal accepted the award on behalf of the Sabo family.

Edmonton, The REALTORS^® Association of Edmonton presented a life membership in the REALTORS® Association of Edmonton at the gala REALTORS^® Ball held Friday, March 9 at the Westin Hotel in Edmonton.

Larry Westergard – Life Member Past President

It has been the tradition of the Association to award a Life Membership to the retiring Past President. The presidential cycle involves a year of preparation as president-elect which involves watching from the sidelines as their predecessor steers the ship of state.

Then their term begins with a round of media interviews and the ever-daunting Forecast Speech in January. Inevitably the rest of the year is a blur as the president represents the Association and our members internationally, locally and in the media. Although no president resents their term in office they are all relieved when December rolls around. But the job is not yet finished. The past-president still has to attend Board of Directors Meetings and chair several ad-hoc committees.

Our most recent past president is no different. He has earned a life membership and the respect of his fellow directors and the real estate industry.

Edmonton The REALTORS^® Association of Edmonton presented a life membership to Gordie Ell at the gala REALTORS^® Ball held Friday, March 9 at the Westin Hotel in Edmonton. Gordie Ell was presented a life membership in the Board Builder Category. Mr. Ell started his real estate career in 1977 with a Rookie of the Year honour. He has made an outstanding contribution to organized real estate through service on Association committees and has consistently qualified for sales achievement awards from his company and the Association.

Gordie Ell – Life Member Board Builder

In the Board Builder category we look for someone who has made an outstanding contribution to organized real estate through service on Association committees both locally and/or at AREA.

The recipient of the Life Membership in the Board Builder this year started his real estate career in 1977 with a Rookie of the Year honour. He has gone on over the years to win numerous other prestigious real estate awards and consistently qualified for sales achievement awards from his company and the Association.

He credits his success to his clients and works to build a rapport with them that develops into a friendship and continuous referrals. His daughter has followed him into the real estate business and now has a successful career of her own.

Outside of real estate circle, our recipient supports the Children's Miracle Network and the Edmonton Realtors Community Foundation and takes time to support the Canadian Cancer Society and the Salvation Army.

The Board of Directors of the REALTORS® Association of Edmonton is proud to present a Life Membership to Board Builder – Gordie Ell.

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The REALTORS^® Association of Edmonton (Edmonton Real Estate Board), founded in 1927, is a professional association of Brokers and Associates in the greater Edmonton area. The Association administers the Multiple Listing Service^®, provides professional education to its members and enforces a strict Code of Ethics and Standards of Business Practice. The Association also advertises property listings and publishes consumer information on the Internet at www.REALTOR.ca and www.ereb.com, as well as in the Real Estate Weekly and on their web site at www.rewedmonton.ca. REALTORS^® support charities involving shelter and the homeless through the REALTORS^® Community Foundation.

Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR^®) and/or the quality of services they provide (MLS^®).

Edmonton, The REALTORS^® Association of Edmonton presented a life membership to Randy Shuttleworth at the gala REALTORS^® Ball held Friday, March 9 at the Westin Hotel in Edmonton.

Randy Shuttleworth was presented with a Life Membership in the Professional Category. Mr. Shuttleworth is the senior partner of a firm that provides customized sales and workplace training & development programs. He currently delivers over 100 training presentations per year and is recognized for his outstanding contribution to the real estate industry through his leadership, mentoring and coaching of fellow REALTORS^®.

Randy Shuttleworth – Life Member Professional Category

In the Professional category we recognize someone who has made on outstanding contribution to the real estate industry through their leadership, mentoring and coaching of fellow REALTORS®. He or she must have an excellent public image and reputation and work well with other members.

Our recipient in this category started out by selling real estate franchises in Western Canada in the 1970’s for Realty World. He then developed training programs for Royal LePage and has become a leading trainer for Real Estate in Alberta. He has developed and taught courses for RECA, AREA and his company. He recently redesigned the new Services for Success on-line orientation program for our Association.

Our Life Member recipient is the senior partner of The Training Company which is a firm providing customized sales and workplace training & development programs. He has earned the Certified Sales Professional designation from the Canadian Professional Sales Association and serves as an examiner for the program. He currently delivers over 100 training presentations per year.

Not only a creative course designer, our award recipient expresses his creativity as an amateur guitarist and plays AC/DC on one of his four guitars.

A student in one of his courses called him an Edmonton-based professional guru and we are pleased to present a Life Membership in the professional category to Randy Shuttleworth.

Edmonton, March 10, 2012: The REALTORS^® Association of Edmonton presented the highest honour of the industry, the REALTOR^® of the Year Award, to the broker for Schmidt Realty, Kathy Schmidt at the gala REALTORS^® Ball held Friday, March 9 at the Westin Hotel in Edmonton. A REALTOR^® for 19 years, Ms. Schmidt has earned the respect of her colleagues and works to enhance the industry and the community in which she lives and works. 

Ms. Schmidt has created a team of associates who work closely and have a balance of work and personal life enabling them to work better. She lives and breathes professionalism and expects only the best from her team mates. She has been active in the Association’s Arbitration and Professional Standards Committee since 1999 and participated in a number of other ad hoc committees. She is also active in the community and serves on both a personal and a corporate level.

Edmonton, March 10, 2012: The REALTORS^® Association of Edmonton presented awards to members who had reached a significant milestone in their membership or who had excelled in the area of property sales in the past year. The awards were presented at the gala REALTORS^® Ball held Friday, March 9 at the Westin Hotel in Edmonton.

Long term service awards in 25, 30, 35, 40 and 50 year categories were given to 70 members and represent 2,115 years of service to the Association and the real estate industry. (See list attached.)

“These members have made real estate sales a career and represent the best in the industry,” said REALTORS^® Association of Edmonton President Doug Singleton. “Many of them are now serving families into the third and fourth generation. They have built the foundation of the industry that supports 3,200 members locally and generates annual real estate sales of over seven billion dollars.”

Top sales achievers were presented a Medallion which represents real estate sales through the Multiple Listing Service^® in 2011 of almost $6.7 million worth of sales each. REALTORS^® could also qualify if they participated in 42 or more real estate transactions last year. This group of 176 REALTORS^® represents the top five percent of local members based on their sales performance. Eleven teams were also recognized for their total sales performance which was at least twice the achievement of individual members.

“Medallion recipients are the hard-working members who get up every morning ready, willing and able to sell a property on behalf of their clients,” said Singleton. “But that effort does not diminish the efforts of our other 3,000 members who are also here when life happens for their clients.”

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The REALTORS^® Association of Edmonton (Edmonton Real Estate Board), founded in 1927, is a professional association of Brokers and Associates in the greater Edmonton area. The Association administers the Multiple Listing Service^®, provides professional education to its members and enforces a strict Code of Ethics and Standards of Business Practice. The Association also advertises property listings and publishes consumer information on the Internet at www.REALTOR.ca and www.ereb.com, as well as in the Real Estate Weekly and on their web site at www.rewedmonton.ca. REALTORS^® support charities involving shelter and the homeless through the REALTORS^® Community Foundation.

Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR^®) and/or the quality of services they provide (MLS^®).

Mr. Ron Hutchinson, the Executive Vice President of the REALTORS® Association of Edmonton, received an Alberta Consumer Champion Award from the Minister of Service Alberta, the Honourable Manmeet S. Bhuller. The awards were presented at a breakfast at Government House on Monday March 5.

The award recognized the work of the Edmonton Stop Marijuana Grow-Op Coalition of which Mr. Hutchinson is co-chair. He has been a member of the Coalition since it was formed by Councillor Karen Liebovichi about 6 years ago. The Coalition has been successful in developing a set of remedition standards which are applied by Alberta Health Services to any former grow-op location. The standards indicate when a property is again safe for human habitation.

The Alberta Consumer Champion Awards are presented annually by Service Alberta to recognize people who operate programs that educate Alberta consumers and promote fairness in the Alberta marketplace. Details of the awards can be found at www.servicealberta.ca.

Commerce, in its most basic form, comes down to providing a product or service in exchange for compensation. In virtually every industry designed for profit, this is a common practice, easily accepted and done both by consumers and providers of said service.

What is it, about Real Estate, that encourages such a firestorm when it comes down to payment for services rendered? Why is it that REALTORS® face such scrutiny for charging commissions? Is it about the amount? Is it about the service? Is it that consumers feel there is an inequitable gap between value and dollars paid?

This may be the problem... The problem with concept of value in a transaction is that it is subjective, and that varies depending on the context. There has been a concerted campaign on behalf of REALTORS® to help to articulate the value they bring to the table, but perhaps this needs to go further, to help the public both understand the concept of value as it applies to REALTOR® commissions, and how the mechanics of the industry itself works.

For the rest of the story see http://www.tillsonburgnews.com/ArticleDisplay.aspx?e=3486983

Thursday, Mayor Stephen Mandel and the Professional Arts Coalition of Edmonton (PACE) announced the nominees for the 25th Annual Mayor's Celebration of the Arts.

The REALTORS® Association of Edmonton was nominated in the category of Sustained Support for the Arts. The nomination was made by Murray Utas, the Artistic Manager of Azimuth Theatre and producer of the Expanse Movement Arts Festival.

The Association has provided support and sponsorship for up to 16 summer festivals and events per year since 2006 including the International Street Performers, Fringe, Dragon Boats, Heritage Days, EFCL and Symphony under the Sky. Smaller festivals such as Art on Whyte, Silly Summer Parade and the Canoe Theatre Festival have also benefited. This was part of a Community Investment program that provided over $170,000 per year to fund community activities.

The REALTORS® Community Foundation provides about $300,000 a year to local groups that focus on shelter, safety and crime prevention. Over the past 25 years the Foundation has given over $3 million back to the community on behalf of REALTORS®.

The Mayor's Celebration of the Arts Awards will be presented at a gala performance at the Winspear Centre on April 2, 2012.

For further information about the evening and previous Award winners see http://www.pacedmonton.com/about/what-we-do/mayors_evening/

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Usually in this space we put a lot of focus on what’s happening with residential prices and the local housing market, but that doesn’t reflect the work that all REALTORS® do. There are many REALTORS® in Edmonton who specialize in commercial property sales. In fact, last year REALTORS® sold $240 million worth of commercial real estate in the Edmonton area. We often talk about dreams coming true for home buyers, but for the small business owners, investors and entrepreneurs involved in those transactions, there were dreams realized as well!

When we talk about commercial properties, we mean things like vacant land, multi-family properties like apartment or townhouse complexes, motels, office spaces, business premises and leases – even farms! As impressive as that $240 million number is, Commercial Sales in January were already out-pacing sales from the same time a year ago, so there’s plenty of reason for optimism in the market. It’s important to remember that life happens in the business world as well, and REALTORS® are here when life happens!

Ron Hutchinson, the Executive Vice President of the REALTORS® Association of Edmonton has been nominated for an Alberta Consumer Champion Award presented by Service Alberta.  The Award recipients will be announced at a Breakfast for Alberta Consumer Champions on March 5, 2012 at Government House .

The REALTORS® Association of Edmonton was a founding member of the Edmonton Stop Marijuana Grow-Op Coalition and remains an active participant in the program. Other coalition partners include the City of Edmonton, Combined RCMP/EPS Green Team, Atco, Epcor, Fortis, home builders, insurance industry, CMHC and local health authorities. The coalition was led by City of Edmonton Councillor Karen Leibovici and is currently co-chaired by Ms. Leibovici and Mr. Hutchinson.

The two major thrusts of the Coalition have been to

a) educate consumers about the existence and dangers of grow-ops and to

b) establish remediation standards for former grow op properties.

Over the five year existence of the Coalition great strides have been made to achieve both goals through the efforts of the REALTORS® Association of Edmonton which have been encouraged and led by Mr. Hutchinson.

Mr. Hutchinson was nominated because he took a personal and active leadership in this important consumer safety issue, encouraged others to become and stay involved and has directed his organization and organizational resources to the efforts of the Edmonton Stop Marijuana Grow Op Coalition.

The industry is proud of the leadership that Mr. Hutchinson has provided in the community and supports this nomination.

"Nathan Rogers does more than play songs and tell stories for you; he provides you with an experience you'll never forget... he has the potential to turn the folk world on its ears."
~ Stylus Magazine (Broose Tulloch)

Nathan Rogers (son of Canadian folk legend the late Stan Rogers) has fulfilled the expectations of his namesake, but with his own unique quality as a first-class songwriter and interpreter. Rogers' reputed vocal ability has had him singing on stage with such notables as John Cameron, Connie Caldor and James Keelaghan. Singing, chanting, playing the guitar and stomping, he fills the stage with magnificent and powerfully clear lyrics and arrangements.

ARE YOU URBAN OR SUBURBAN?

 HGTV Canada’s Urban Suburban Renewed for Second Season and Now in Production

Call for Participants for Upcoming Episodes to Air This Fall

(Vancouver, B.C. – February 20, 2012)  The hit HGTV Canada series Urban Suburban is back for a second season to help prospective home buyers from Victoria to Halifax faced with a tough decision:  should they make their home in the heart of the city, or will a suburban lifestyle suit them best?

Currently filming in locations from coast-to-coast, this popular series is seeking dynamic Canadian families and couples interested in tackling their real-life real estate dilemmas on-camera for the series set to air on HGTV Canada in Fall 2012.

Produced by Force Four Entertainment Inc., Urban Suburban is hosted by real estate agents and siblings Sarah Daniels and Philip DuMoulin. In each half-hour episode a family or couple that can’t agree between a home in the city or one in the suburbs turn to Sarah and Philip who go head-to-head to find the properties that they think their clients will love. Sarah takes on the suburbs while Philip champions the city, and after touring homes the buyers pick their urban or suburban favourites by factoring in price, space, convenience and lifestyle. Eventually, they decide on the perfect home and neighbourhood for their needs – and either Sarah or Philip will come out a winner.

Are you trying to convince your partner that city living is the way to go or a quiet suburban life will give you more bang for your buck? Enthusiastic Canadian families and couples that are looking for a new home, but are torn between urban and suburban, are invited to apply to appear in upcoming episodes.

 Applicants should send an e-mail to casting@forcefour.com with the following:

         - the reasons they are moving

        - the areas they are considering and why

        - approximate budget

        - a photo of the family

        - contact information

Vancouver-based Force Four Entertainment Inc. began operations in 1983, and has now grown into one of Canada’s most successful and respected television production companies. Force Four has produced more than 300 hours of primetime broadcast programming, earning accolades on the national and international stage. 

The company’s highly successful television programs include lifestyle, documentary, and scripted programming that is sold and aired around the world.  Force Four has been awarded the prestigious Peabody Award, 10 Gemini Awards and over 25 Gemini nominations, and is owned by President Rob Bromley, Executive Producer John Ritchie, and Director of Business Affairs Gillian Lowrey. www.forcefour.com

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Condominiums have always been an interesting option for first-time home buyers and people looking to downsize from their current situation. The condo market is even more attractive in Edmonton these days with a very strong selection on the market. Prices have also dipped in the last little while, making that dream of home owner ship a little more affordable. In January, the average condo price dropped 4.9% from December, and was thousands of dollars lower than January of 2011.

Average Condo price, January 2012 - $215,407

Average Condo price, January 2011- $223,807

Average Condo price, December 2011- $227,679

Those numbers suggest that Condo prices slowly climbed, with fluctuations back and forth, over the course of last year. It’s reasonable to believe that prices will start to climb again as we head into spring, but at the moment those lower prices combined with record low interest rates suggest that this might be the time for first-time buyers to really consider their options. Remember, REALTORS® are here when life happens!

"I've been looking for 30 years for a young guy who's proud to write songs about our country. I'd like to pass the torch to Tim Hus."
~ Stompin' Tom Connors

Following a national tour with the legendary Stompin' Tom Connors in 2009, Tim Hus released his critically acclaimed fifth album Hockeytown. Recently nominated "Roots Artist of the Year" for the 2011 Canadian Music Awards, Tim's music covers roots, folk, rural redneck and blue collar. This independent Canadian troubadour has shared the stage with many other great talents such as Ian Tyson and Gary Fjellgaard, and has recently collaborated with Corb Lund on the song "Hurtin' Albertan." This captivating and crowd-pleasing performer has a "voice sweeter than a Husqvarna chainsaw, a wit sharper than rusty barbed wire, and a list of songs longer than a Saskatchewan fence line."

OTTAWA – February 15, 2012 – According to statistics released today by The Canadian Real Estate Association (CREA), national resale housing activity retreated in January 2012 from the strong finish reported for December 2011.

Pierre Leduc
Media Relations / Relations auprès des médias
pleduc@crea.ca

The Canadian Real Estate Association / L'Association canadienne de l'immeuble
200 Catherine Street, 6th Floor / 200, rue Catherine, 6e étage    Ottawa, ON K2P 2K9
Tel/Tél: +1 (613) 237-7111    Fax/Téléc: +1 (613) 234-2567

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It’s important to recognize opportunity when it comes knocking. If you’re interested in getting into the Real Estate market, opportunity probably looks a lot like the historically low interest rates and wonderful selection of homes available now in the Edmonton area! Interest rates aren’t expected to rise this year, but listing activity is. That’s a combination that should have potential home buyers excited.

In January, single family home prices were 2.5% higher than a year ago. If you’re currently in a different type of residence, maybe an apartment condo or a townhouse, this might be a chance to upgrade to a single family home.

Your local REALTOR® can help you explore the many choices you have available to you, and to understand exactly what’s happening in the market. Of course, no matter what the interest rates are or how many homes may be available, most people make a decision to buy or sell a home based on what’s happening in their life. REALTORS® are here when life happens. If you’re at a point in your life where you’re watching for a good opportunity to come along – this might be what it looks like!

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At first glance, point seven percent doesn’t seem like a very large number, but what it represents in this case is kind of significant. It’s typical for home prices to drop a little from December to January. While prices did dip slightly in certain categories for the first month of 2012, the average all-residential price for the month was actually up by point seven percent. The all-residential price takes into account single family homes, condos, duplexes and townhomes.

        Average All-Residential price for January 2012 -$318,034

That’s also 2.6% higher than the all residential average in 2011. The greatest increases were in townhome and row house prices (up 8.3% from December). Condo prices kept the overall increase from climbing too high, as they took a 4.9 percent dip. While point seven percent may not seem like a lot, it’s the start of a slow, steady pattern that REALTORS® are predicting for the market this year and a sign of market strength heading into spring. No one can say for sure what’s going to happen to prices in the coming months, but you can rest assured that REALTORS® are here when life happens!

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According to preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC), housing starts in the Edmonton Census Metropolitan Area (CMA) increased in January to 578 units compared with 363 in January 2011. The increase occurred in both the single-detached and multi-family sectors.

Single-detached starts in January increased by 53 per cent year-over-year to 314 units, up from 205 in January 2011. “The gain represents a strong start to the year for Edmonton’s single-detached builders,” noted Richard Goatcher, CMHC’s Senior Market Analyst for Edmonton. “However, it should be noted that last year’s starts were hampered by heavy snow and cold temperatures which delayed production across the Capital region,” he added.

The ROOPH Awards (Recognizing Outstanding Organizations and People in Housing) celebrates the achievements of people and organizations who address affordable housing and homeless initiatives in Edmonton. Founded in 2006, the awards ceremony serves as an opportunity for community members to recognize the accomplishments of the leaders working in the housing and homelessness sector.

Over the past 25 years the REALTORS® Community Foundation has partnered with literally hundreds of organizations to provide assistance in their housing needs. Over $3 million has been given to organizations to buy flooring, bunk beds, roofs and other materials that provide living situations for people in distress or need. About 75% of the Foundations grants are directed to housing needs. The Foundation gets most of its money from REALTORS®. The REALTORS® Assocaition of Edmonton provides an annual operating grant that covers the office and staffing costs of the Assocaition. In addition any fines levied on members is directred to the Foundation. Finally, individual REALTORS® give a portion of the proceeds from a property sale to the Foundation or buy tickets to the various raffles and events hosted by the Foundation.

The Foundation was nominated in the partnership category.

Partnerships for Success

Recognizes the important role of partnerships between private, not-for-profit, and/or public agencies to address homelessness or affordable housing needs and/or support services within our community.

Nominations are encouraged for a key person playing a pivotal role within a partnership.

For more information about the ROOPH Awards or to attend the awards luncheon see the website at http://www.homewardtrust.ca/programs/rooph-awards.php

2012 ROOPH Awards

Thursday, March 8, 2012

11:30 AM - 1:30 PM

Westin Hotel, 10135 100th Street

Tickets

Individual ticket: $55.00

Table of 8: $400

Edmonton, February 2, 2012: It was a typical January. The REALTORS® Association of Edmonton reports that housing prices in January softened and sales numbers were low as compared to the previous month. This January followed the usual trend with prices generally lower than the previous month and sales on par with December. However, except for the condo market, year-over-year prices and residential sales were up.

“We are predicting a slow but steady growth pattern for the market in 2012 and, as usual, this year started off slowly but is already showing signs of strength as we roll into spring,” said REALTORS® Association of Edmonton President (2012) Doug Singleton. “Listing and sales activity is up markedly as compared to a year ago. Listings in January as compared to December are up over 126%.” There were 5,303 residential properties in the local MLS® System at the end of January.

In January, the average price of a single family detached (SFD) home was $362,926, down just 1.1% from December 2011. A year ago the average price was $354,180. The condo market is still showing signs of distress. The average price of a condo in January was $215,407, down 4.9% from the December price. A year ago the average condo price was $223,807. Duplex and rowhouse properties sold on average for $304,590; an 8.3% improvement from last month and up 2.8% from a year ago.

The average residential price (including all SFD, condo, duplex and townhouse properties sold in the Greater Edmonton Area) was $318,034: up 0.7% from December and up 2.6% from last January. Sales are not keeping pace with new listings and the sales-to-listing ratio was low at just 36%. There were 2,441 residential properties listed and 881 sold in January (up 7.1% from a year ago). Average days-on-market in January was 65, the same as December.

“Interest rates remain at a historic low point and are not expected to rise this year. Combined with an expected increase in listing activity, the low interest rates make this a great time to enter the real estate market,” said Singleton. “Buyers have increased choice and there is a massive amount of information in the real estate market. REALTORS® are uniquely qualified to sort through the data and help buyers and sellers to make informed decisions that support their hopes and dreams. REALTORS® are here when life happens.”

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Review these statistics and more at www.ereb.com.

Highlights of MLS^® System activity

^[1] Residential includes SFD, condos and duplex/row houses.

² Single Family Dwelling

³ The middle figure in a list of all sales prices

⁴ Includes residential, rural and commercial sales

2011 was a busy year for REALTORS® in Edmonton.  REALTORS® were involved in more than 60 thousand real estate transactions, and advised on thousands of others.  Beyond those transactions, your local REALTOR® is busy with so many more endeavors behind the scenes!  The REALTORS® Association of Edmonton provided funding of $300,000 to 44 different community groups in 2011, through the REALTORS® Community Foundation.  They also supported artistic, heritage and community events.  Of course, individual REALTORS®  participate in a great many volunteer activities, helping to keep the communities they live and work in strong.  Over 1000 members of the REALTORS® Association also took part in professional development courses.  And you’re holding one of the REALTORS® Associations ongoing efforts to help keep the community informed in your hands right now. In 2011, the REALTORS® Association put out 51 editions of the Real Estate Weekly, printing more than 2.5 million copies (REALTORS® didn’t do the actual printing, but you get the idea).  Hopefully, you’ll continue to turn to this source through 2012, to learn what’s happening in Real Estate in Edmonton, and to get a sense of what your local REALTOR® is up to. 

REALTORS®: Here when life happens.

Edmonton, January 11, 2011: Doug Singleton, President of the REALTORS® Association of Edmonton announced the real estate industry housing forecast for 2012 at an industry seminar on Wednesday. He expects that the current stable market will continue through 2012 with prices and unit sales increasing slightly year-over-year and real estate transactions to follow typical month-to-month trends.

“I do not see any external forces that will influence the normal operation of the real estate market locally in the year ahead,” said Singleton. “Mortgage interest rates are expected to remain stable through 2012 and there will be balanced demand on both the buyer and seller sides of the market.”

The REALTORS® Association is forecasting that the all residential price for housing in the Edmonton area will increase about 2% over the year ahead. Single family detached home prices will increase on average by 2% over the year and condominiums, which are oversupplied in the market, will have their prices increase just one percent. A single family detached home that sold for $372,000 in December 2011 will be priced at $380,500 at the same time this year. Condos are currently selling on average for $230,000 and will increase to $237,000 by next December.

Singleton expects that residential unit sales will increase slightly in 2012 as compared to similar unit sales in 2011. “This is a balanced market with great opportunities for both buyers and seller,” he said. “Inventory levels will be sufficient to provide choice to buyers and yet the rate of sales measured by Days-on-Market and sales-to-listing ratios will be sufficient to satisfy most sellers.” He pointed out that sellers can increase their chances of a successful sale by ensuring that their property presents well and is priced realistically for the neighbourhood and time of year. There are 3,200 REALTORS® available to advise potential buyers and sellers on price, marketing and contract details.

The continued growth of Edmonton and surrounding communities will also result in higher commercial real estate activity in 2012 as more small and medium businesses start-up and industrial development creates the demand for warehouse condo construction and business offices. In 2012 there was $240 million worth of commercial sales transacted through the local MLS® System.

As usual REALTORS® expect real estate activity to pick up in the spring and gradually fall off as the year progresses. However the industry is optimistic about the year ahead and expects good results for the industry, the members and the consumer. “I’m glad to be selling real estate in Edmonton,” concluded Singleton.

Was 2011 a good year to buy a home?  Was 2011 the right year to sell your home?  The data is in, with the numbers to show just what the Edmonton Real Estate Market did in 2011. 

• The all residential average price for 2011 - $325,457, up from $329,019
• The average single family home price for 2011- $373,105
• The average condo price for 2011- $233,228
• The number of single family home sales were up 5.5%, while condo sales were down just .4%

So was 2011 the right time to buy or sell a home.  Yes, if your situation called for a change.  While these numbers are all good, the truth of the matter is that most people make a Real Estate Decision based on the way life happens.  Will 2012 be the right year for you to buy or sell a home? Your Local REALTOR® can help you determine if that move makes sense for you and what happens in your life this year.

REALTORS® are here when life happens.

Read the Real Estate Weekly available in Blue Boxes and on news stands throughout the Edmonton area each Wednesday.

The Teranet-National Bank National Composite House Price Index™ breathlessly reported today that housing prices in Edmonton in November 2011 were up slightly from the previous month.

CANADIAN HOME PRICES DOWN 0.2% IN NOVEMBER

Canadian home prices in November were down 0.2% from the previous month, according to the Teranet-National Bank National Composite House Price Index™. The retreat came after two months in which prices had been flat from the month before, and is the first in the index since a brief correction during the three months ending November 2010. Prices were down in eight of the 11 metropolitan markets surveyed, one more than in October. Calgary and Victoria stood out with declines of 1.6% and 0.9% respectively. The deflation was much smaller in the other six markets: 0.3% in Hamilton, 0.2% in Vancouver, Toronto, Ottawa and Quebec City, 0.1% in Winnipeg. Prices were up from the previous month in Edmonton (0.1%), Montreal (0.4%) and Halifax (0.5%). The simultaneous monthly declines in Toronto, Hamilton and Winnipeg are noteworthy in that these three markets are considered tight.

On December 5, the REALTORS® Association of Edmonton reported that: "Single family detached homes sold on average for $365,734 which is marginally higher than last November and last month." We appreciate that Teranet agrees with our reporting of market conditions. It is unfortunate that they can only come to that conclusion two months after we have reported the same local market conditions.

This is a further indication that only a REALTOR® can provide you with the freshest local market facts. REALTORS®: Here when life happens.

Having watched and participated in the growth of the Edmonton area for many years now, Doug has developed a unique knowledge of its communities and hidden treasures as well as an intuitive feel for its real estate market. Doug was licensed as a real estate associate in Alberta in October 1994 with Royal LePage Noralta Real Estate and is committed to working as a full-time REALTOR®.

Doug served on several ad hoc committees as well as the Arbitration and Professional Standards Committee for seven years and chaired it for over two years. He also serves on the Real Estate Council of Alberta Hearing Panel Roster. He was elected to the Board of Directors of the Association in January 2009.

Prior to becoming a REALTOR®, Doug worked in the retail industry as a Regional Sales/Operations Manager in Edmonton, Toronto and Calgary.

Doug has been married to Marvia for 31 years and enjoys time with his two daughters and two grandchildren. He has a keen interest in sports and is active in his community. He supports the communities where he lives and works by donating a portion of each transaction's commission to the Royal LePage Shelter Foundation in support of women and children (Win House) and the REALTORS® Community Foundation in support of local charities involved in shelter, homelessness, crime prevention and special projects.

Doug will serve as President until the end of 2012. His picture is attached.

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On January 1, I became the new President of the REALTORS® Association of Edmonton. You will be seeing a lot of me this year, in this spot in Real Estate Weekly and on TV and other media. I thought I should introduce myself to you and give you some insight into my experience.

I was licensed as a real estate associate in Alberta in October 1994 with Royal LePage Noralta Real Estate.  Since then I have been committed to working as a full-time REALTOR®.  I am proud to assist my clients to achieve their real estate goals whether they are selling or buying property. I expect that a lot of my time will be taken up this year with presidential tasks and travel but my clients will still get the full level of service that they expect and deserve.

As well as my clients, I am dedicated to the industry itself. I was elected to the Board of Directors of the Association in January 2009 and have served on several ad hoc committees. I spent seven years on the Arbitration and Professional Standards Committee and chaired it for over two years. I also served on Real Estate Council of Alberta hearing panels.

As a native Edmontonian, I have an insightful knowledge of the city and how it has grown over the years. Prior to becoming a REALTOR®, I worked in the retail industry as a Regional Sales/Operations Manager in Edmonton, Toronto and Calgary so I have a wider view of the country as well.

In the community in which I live and work, I served on the Board of Directors of my homeowners association and contribute a portion of the commission from each transaction to The Royal LePage Shelter Foundation and the REALTORS® Community Foundation.

I look forward to representing REALTORS® this year and encourage you to contact any of our members when you find yourself in need of real estate advice and services. REALTORS® are here when life happens.

Doug Singleton

Edmonton, January 4, 2012: The REALTORS^® Association of Edmonton report that the all-residential average price for real estate sales through the Multiple Listing Service^® (MLS^®) in December was up 1.7% ($316,415) from a year ago. The average price of a single family detached home was also up 2.0% to $364,803 from December 2010. Relative to last December housing prices were up overall as well. As typical for December when sales usually fall off, month over month sales were down 27% and prices dipped 1.5% as compared to the November figures.

“With economic uncertainty impacting Europe and depressed housing markets in parts of the United States, it is a relief to report on the stability and health of the local real estate market,” said REALTORS® Association of Edmonton President (2011) Chris Mooney. “With prices and sales varying within a small range there is a solid base going forward into the 2012 market.”

In November the average price of a single family detached home was $364,924 and dipped just 0.3% in December. A year ago the average price was $357,636. That stability was reflected in condo pricing as well. In November the average price of a condo was $228,689 and the December price of $227,679 was down just 0.4%. A year ago the average condo price was $225,641. Duplex and rowhouse properties sold on average for $282,620, a 9.7% drop from a year ago.

The average residential price (including all SFD, condo, duplex, townhouse properties sold in the Greater Edmonton Area) was $316,415: down from November by 1.5%. There were 1,085 properties listed and 827 sold in December. There were 1,088 listings and 829 sales in December 2010. With slower sales the Days-on-market was 65 and the sales-to-listing ratio was a high for the year of 76.2%.

Looking back over the year, Mooney was content. “Last January, I forecast a 3% increase in single family prices and no movement in condo prices when comparing December to December. We ended up with a change of about half that overall and condo prices up. Homeowners generally saw an equity increase in the value of their homes in 2011.”

The all-residential average price for the entire year was $325,457 as compared to $329,019 in 2010. There were 10,962 SFD sales (up 5.5%) in 2011 and 4,638 (down 0.4%) condo sales. Total residential sales were 16,893 units (up 3.8%) on listings of 30,906 units (down 2.0%).

Total MLS® sales (including residential, rural, recreational and commercial properties) were valued at $6.29 billion and represented 39,350 listings and 18,986 sales transactions. “REALTORS® were involved in almost 60,000 real estate transactions in 2011 and advised on thousands more that never materialized. There were tens of thousands of business people, families and individuals who met with one of our 3,200 REALTOR® members this year, and I am proud of their service to the community and the local economy,” said Mooney.

REALTORS® also provided funding of $300,000 to 44 community groups this year through the REALTORS® Community Foundation and supported arts, heritage and community events through marketing and individual contributions. The REALTORS® Association of Edmonton printed over 2.5 million copies of the Real Estate Weekly in 51 issues and 1,061 members participated in professional development courses including 225 new members and 20 new broker/managers.

It is a well-known fact that men and women tend to have different approaches to many situations, and purchasing a home is apparently one of those situations.

While purchasing a home had been traditionally a male domain in decades past, women have emerged on the home buying scene, with expressed housing needs and tastes.  Also, statistics show that over the last decade, the face of the homebuyer has shifted somewhat, with many more single women opting to jump into the homeownership pool, rather than waiting to be part of a couple. According to a Royal Lepage survey, upwards of 30% of single women own their own home.

Keeping in mind that men and women may approach a property differently, there are certain things that a REALTOR® must consider when assisting a buyer to select a property, according to Sundaybell, an online company specializing in matching homebuyers and sellers with their ideal agent.

Although men and women tend to look for different things when buying a home, there is also much they have in common. And that's where the value of working with a real estate professional comes in. "A good REALTOR® will take both parties' concerns and preferences into account, and find a compromise solution that addresses everyone's wants and needs," says Andrew Brest, VP Marketing of Sundaybell Inc. Lee Redwood, Sundaybell's VP Sales agrees. "A part of an agent's job is to sometimes act as a bridge between partners, helping them to understand the other's point of view."

Differences in preferences between men and women, and the presence of them in the marketplace has caused some to take notice; Coldwell Banker did a survey to explore fully what these home buying differences were, and if Realtors should be tailoring their marketing and support efforts.

Some key differences that the survey revealed were that women tended to make decisions more quickly.  70% of women knew straightaway upon viewing a home that it was the one for them, whereas only 62% of men felt that sure, that quickly. Men apparently needed a little more “tire kicking”, and required more return visits than their female counterparts to finalize a decision.

It terms of location being an important factor, only 37% of men felt that location was one of the most important things when buying a home, compared to 55% of women respondents. In the matter of security, men and women found some common ground, both valuing it as important.

There is new evidence to suggest that the Canadian housing market, that has been fervently climbing, is beginning to cool.

The latest release of the Teranet-National Bank Composite House Price Index, which examines repeat sales of single-family homes in 11 major cities across the country, reveals that on a national average, price have fallen modestly- by 0.4% in October from the month prior. This represents the second month in a row that prices have remained fairly flat.

In seven of the 11 markets, prices retreated. Toronto, Winnipeg, Quebec City and Hamilton all experienced modest increases.  Prices fell in Victoria, Calgary, Halifax, Ottawa-Gatineau, Vancouver, Edmonton and Montreal.

This comes as no surprise, as economists and analysts have widely expected the housing market to cool somewhat through the end of this year and the beginning of the next, with prices and activity beginning to pick up again towards the end of 2012. This closely mirrors the expectations for economic growth in the country as well.

Lower interest rates will continue to support consumer demand, but rising debt levels, flat income growth and fears of unemployment will likely put some downward pressure on prices and activity.

While prices have begun to moderate downwards month-to-month, they are still up year-over-year, by a healthy 6.98%. Year-to-date, prices have risen by 7.22%.

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RAE_DECAD_4-1.pdf (640 KB)

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RAE_DECAD_4-1.pdf (640 KB)

Life happens. For thousands of home buyers and sellers this year, life happened, and REALTORS® were there to answer the call. On behalf of all REALTORS® in the Edmonton area, we’d like to take this opportunity to thank all home buyers and sellers for putting their Real Estate goals in the hands of a REALTOR®. Season’s Greetings and Best Wishes. If your dreams for the New Year involve a move, whether it’s your first home or something new to suit your changing lifestyle, your local REALTOR® is committed to help make it happen. And if life happens, and 2011 includes some surprises you didn’t see coming, your local REALTOR® can help with that too! We look forward to helping you realize your Real Estate dreams and deal with life as it happens in 2012!

A new year invariably brings thoughts of change, predictions for the future and forecasts of good or bad or something in between. When it comes to the Canadian mortgage industry, experts point to a vulnerable global marketplace as a backdrop for the tepid economic predictions being issued by Canadian economists.

For the rest of the story go to:

http://propertywire.ca/features/features/market-intelligence/1605-caution-in-the-wind-for-2012-mortgage-forecast.html

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RAE_DECAD_3-1.pdf (642 KB)

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It would be an understatement to say that a lot happened in 2011. It would also be an understatement to suggest a lot happened in the Edmonton Real Estate market. But for all of the activity, and there was plenty, how far have we come? How much has changed since this time one year ago? As it turns out, not much. The stability that the Real Estate market has shown over the last year gives REALTORS® great confidence going forward. A quick rewind shows us that home prices were remarkably similar at the end of November, to the same time last year!

Average Single Family home price: November 2011- $365,734. November 2010 - $362,657 

Average Condo price: November - $227,901. November 2010 - $229,603

Obviously those numbers fluctuated up and down over the course of the year, but at the end of 12 calendar months, they arrived at shockingly similar totals. Not everything is the same as a year ago, however. Homes spent an average of five days less on the market in November than they did at a year ago, at just 59. The sales-to-listings ratio is lower as well, suggesting that homes are selling faster than they were a year ago. These numbers suggest that there’s not much point in waiting to sell or buy. While some people waited a year, only to see that nothing much had changed, many more talked to their local REALTOR®, and are already enjoying their new situation!

The REALTORS® Community Foundation was recently profiled in the Alberta Legislature by Doug Elniski the MLA from Edmonton Calder. He commented on the work of the Foundation and introduced Executive Director Jill Didow who was in the gallery.

Elniski told the Legislature that the Foundation has disbursed over $300,000 to 44 community agencies this year and that the funds are raised by REALTORS® at events and through donations from their commissions on the sale of property.

For more information about the Foundation see realtorsfoundation.com

To view the speech in the Legislature go to:

Ottawa – December 15, 2011 - According to statistics released today by The Canadian Real Estate Association (CREA), national resale housing activity rose slightly in November 2011 from the previous month.

Highlights:

·         Sales activity rose slightly (+0.5 per cent) from October to November on a seasonally adjusted basis.

·         Year-to-date sales remained in line with the 10 year average, but pulled further ahead of last year’s levels.

·         The number of newly listed homes was down 3.4 per cent from October to November.

·         The national housing market remains balanced, but is edging closer to seller’s market territory.

·         The national average price posted a 4.6 per cent year-over-year gain in November, the smallest increase since January.

Sales activity recorded through the MLS® Systems of real estate Boards and Associations in Canada edged upward by one-half of a percentage point. This marks the third straight month in which national activity was up from the previous month’s levels.

For more information, please contact:

Pierre Leduc

Media Relations / Relations auprès des médias

pleduc@crea.ca

Locally, prices in November for all types of residential property were up about one third of a percent. Single family prices rose on average by 1 percent and condos were priced up by 2.3%. Prices of most types of property in the Edmonton area were up from a year ago and sales for the last three years have been similar in the month of November.

For full deatils of the local real estate market see Statistics on EREB.com.

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CMHC_alberta_fall_2011_rmh.pdf (1.75 MB)

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CMHC_alberta_fall_2011_rmh.pdf (1.75 MB)

Rentors may be feeling the squeeze in Edmonton as vacancy rates drop. According to CMHC the rental vacancy rate is 3.3% down from 4.2 percent last year. That means that landlords have less pressure to maintain current rental rates because their properties will be easier to rent in the year ahead.

While interest rates are low and the market is stable, many rentors may want to consider their move into a home that they own. They can then control their own future, reduce the risk of rate increases and start to develop equity.

A REALTOR® will be able to explain the benefits of home ownership and help you to select a home to meet your budget and your dreams.

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Steady Eddy. It’s a suitable nickname for Edmonton, considering just how steady and stable things seem to be around here. While much of the world sits on pins and needles, trying to resolve their financial crisis, and other parts of the world deal with strife, we have a very rosy outlook here in Edmonton. For that matter, Alberta and particularly Edmonton lead the way when it comes to optimism in Canada. Right now, REALTORS® are extremely confident in the stability of the Real Estate Market. We’ve come through 2011 with prices and sales figures to rival those of a year ago, despite the darker economic picture elsewhere. There’s no reason to think that Real Estate in Edmonton is about to change. Stability in our economy and on the political front suggests stability for the year to come in the Real Estate market. That means plenty of opportunity for buyers and sellers alike in 2012 – at least for buyers and sellers here in Steady Eddy.

According to Canada Mortgage and Housing Corporation’s (CMHC) Fall Rental Market Survey, the average vacancy rate for privately-initiated rental apartments in Alberta’s urban centres 

declined to 3.4 per cent in October 2011, compared to 4.6 per cent in the previous year.

“The reduction in vacancy rates is largely attributed to increased employment levels and recent gains in inter-provincial migration,” said CMHC Senior Market Analyst, Richard Cho.

In the Edmonton CMA, the apartment vacancy rate declined from 4.2 per cent in October 2010 to 3.3 per cent this year. “A strengthening economy has improved labour market conditions in both Calgary and Edmonton, resulting in improved job creation, an inflow of new migrants, and strengthening the demand for rental units,” noted Richard Goatcher, CMHC’s Senior Market Analyst for Edmonton.

Your REALTOR® will be delgihted to show you any of the 6,000 residental properties currently available on the local market which you could purchase for investment purposes. You could also leave your money in the bank at .25% interest rates.

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CMHC_Dec_2011.pdf (73 KB)

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CMHC_Dec_2011.pdf (73 KB)

Calgary’s luxury home market has seen a spike in demand this year with sales in the upper-end approaching the record levels of 2007.

Brendan Hughes, a realtor with RE/MAX Real Estate (Central) in Calgary, said sales in the upper-end market are a sign of a good economy in the city.

“It’s vibrant and it’s growing. Jobs are being created. People are moving here,” said Hughes.

According to the Calgary Real Estate Board, so far this year from January to November there have been 25 MLS condo sales over $1 million compared with 19 for the same period in 2010.

Year-to-date, there have been 406 single-family sales at that price point, up from 326 a year ago.

Read more: http://www.calgaryherald.com/business/Calgary+luxury+home+market+booming/5838371/story.html#ixzz1gL840ysx

So far this year there have been 63 single family homes that sold for over $1 million in the Edmonton area and 2 condos. There were 70 SFDs and 4 condos sold in that upper price range in all of 2010 according to the Multiple Listing Service® statistics.

Is there such a thing as a best time of year to sell a house? Certainly, seasonal factors come into play when trying to sell a home, but there are other things to consider as well, like the tug and pull of supply and demand, as well as unique local market conditions.

No matter when a home goes on the market, one should take a few things under consideration that will likely affect not just the ability to sell a property, but more importantly the ability to get your asking price. Timing, it seems, is everything.

For the rest of the article and the answer to this intriging question:

http://propertywire.ca/component/content/article/101-top-tips/1579-best-time-of-year-to-sell-a-house.html

There are xcurrently over 6,000 rersidential properties available in the Edmonton market. Is this a good time to be looking? One this is for sure, he open houses won't be as crowded as the malls.

Canadian housing starts slumped last month, hurt by weakness in the condominium sector, in the latest sign that a property boom fuelled by low interest rates is under pressure from global economic uncertainty.

Photo: Telegraph-Journal archives

Canadian housing starts slumped last month, hurt by weakness in the condominium sector, while housing prices were still on the rise in many markets.

But the news was not all negative, with slightly older data showing housing prices were still on the rise in many markets.

Housing starts fell in November to a seasonally adjusted annualized rate of 181,100 units from an upwardly revised 208,800 units a month earlier, Canada Mortgage and Housing Corp said on Thursday.

The number of starts was below the consensus expectation of analysts, who had called for 200,000.

The miss was partly due to a drop in construction of multi-unit buildings such as condominiums. The seasonally adjusted annual rate of multiple starts in urban areas fell 23.3 per cent to 95,300 units.

"While starts dropped to their lowest level since February, the details of this report are hardly troubling. The volatile multiple-unit sector has corrected from a bout of surprising strength earlier in the fall," Doug Porter, deputy chief economist with BMO Capital Markets, said in a note to clients.

"Even so, we do expect home building activity to simmer down somewhat in 2012 amid softer consumer confidence and a recently cooler job market."

Full article - http://tinyurl.com/d82248b

Edmonton, December 6, 2011: Like many other groups, REALTORS^® get together at this time each year to network, celebrate and enjoy some Christmas entertainment. On Friday, Dec 2 about 1000 members of the real estate industry and their invited guests sat down to a Christmas Luncheon, a magic show and some dancing. They also raised over $75,000 for charity at the same time.

Half of the room at the Expo Centre at Northlands was filled with a 400-piece silent auction which raised over $33,000. Another $30,000 was raised at a live auction which included foreclosures, trips and advertising packages. Five different activity areas, which included a diamond mine, photo booth, champagne raffle and 50/50 draw, raised another $11,000. The funds will be used by the REALTORS^® Community Foundation to support the dozens of charities that apply to the Foundation for assistance. Many guests also brought food and donations for Edmonton’s Food Bank to the event.

The REALTORS^® Community Foundation supports projects involving, shelter, homelessness, hunger, crime prevention and special projects. In 2011, the Foundation allocated over $300,000 to 44 different charities and community projects. Over the past 25 years, REALTORS^® have contributed over $3 million back to the community in which they live, work and play.

“The Santa’s Auction at the annual Christmas Lunch is a lot of hard work. We had about 30 people helping to set it up,” said Susan Horon, one of the co-chairs of the event. “But REALTORS^® always come through by soliciting the donations and then attending the Lunch to buy the items back. I felt wonderful knowing that the REALTORS^® were having fun while giving back to the community.”

For more information about the Foundation, visit the website at: www.realtorscommunityfoundation.com

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RAE_DECAD_1-1.pdf (642 KB)

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RAE_DECAD_1-1.pdf (642 KB)

Surprises are sort of the norm for this season. That gift you can’t wait to surprise someone with; the surprise visit from friends and family bringing holiday wishes! Those are the sorts of surprises we welcome. When it comes to the economy, especially when we’re talking about one of the most stable economies in the world right now, we can probably all do without surprises. Thankfully, the only thing surprising about the Edmonton Real Estate market right now is how surprisingly predictable it really is. REALTORS® noted slight increases in the price of single family homes from October to November, and as compared to last November, but not increases large enough to be surprising. Condo prices also increased in unsurprising increments from the month previous.

The average Single Family home price in November- $365,734, up from $362,897 in October

The average Condo price in November -$227,901, up from $223,892 in October

While prices obviously differ from home to home and neighborhood to neighborhood, by and large little is changing from month to month. After the sometimes chaotic nature of the housing market over the past five years, perhaps it’s surprising that conditions in Edmonton have gotten to a stable point where there don’t seem to be any surprises!

Edmonton, December 5, 2011: There were no surprises in the month-end Multiple Listing Service® sales figures for the month of November released by the REALTORS® Association of Edmonton today. The all-residential average* sales price of $321,135 was up less than one percent from last month and last November. Single family detached homes sold on average for $365,734 which is marginally higher than last November and last month. Condominium average price ($227,901) was up 2.3% month-over-month (from $222,778) but down 0.6% from a year ago (from $229,337).

“Prices will vary from neighbourhood to neighbourhood and from property to property,” said REALTORS® Association of Edmonton President Chris Mooney. “But generally your home would have sold last month for about the same amount as it did last year. There was a slight decrease in sales activity compared to last year but listings also decreased reducing the inventory to the level it was at in February.”

• Residential listings = 1,800 with sales = 1,084
• Total MLS® listings = 2,239 with sales = 1,236
• Residential inventory = 6,588
• Total MLS® inventory = 10,390
• Sales-to-listing ratio (residential) = 60%, in 2010 = 64%
• Days-on-market = 59 (same as October), last November = 64 days

“I almost think that the market is resting after the maelstrom that has occurred in the past five years,” said Mooney. “Compared to other national and global markets this part of the world is a safe haven with stability right now and great prospects in the very near future.” Total MLS® sales for the year-to-date were $5.96 billion compared to just $5.84 billion last November.

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RAE_NOVAD_4-1.pdf (523 KB)

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RAE_NOVAD_4-1.pdf (523 KB)

Every year, the REALTORS® Community Foundation, the charitable arm of the REALTORS® Association of Edmonton, donates thousands of dollars to support charitable organizations in our city and the surrounding area. REALTORS® recognize the importance of improving the communities they work and live in, leading to countless volunteer hours and financial support.

This year is extremely special for the REALTORS® Community Foundation, as it marks 25 years – a quarter century making a difference here in Edmonton. National Housing day, November 22^nd, seemed like the perfect day for the Foundation to present this year’s donations, to very deserving charities and community groups. Local REALTORS® raised $300,000 this year, to help support shelters, crime prevention, the homeless and many others. For 25 years, the REALTORS® Community Foundation has been making these commitments to our community, and we want to give a tremendous thank-you, to the REALTORS® who give so generously back to the community, and make these donations possible! To find out more about the REALTORS® Community Foundation, visit www.ereb.com or www.realtorscommunityfoundation.com.

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RAE_NOVAD_3.pdf (523 KB)

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RAE_NOVAD_3.pdf (523 KB)

This is always a busy time of year, which may be one reason why it always seems to be a slightly slower time of the year for REALTORS®. That’s not to suggest that your REALTOR® is out Christmas shopping. There’s still ample activity, with REALTORS® busy showing homes, listing homes, removing conditions every day. Traditionally the market does get slower at this time of year, however. In October, the number of days the average home was on the market climbed to 59, three days longer than the average in September. With fewer listings, inventory levels dropped as well, from 8,062 residential properties in September, to 7,296 in October. Inventory levels are lower than they were at this time last year, but sales activity remains on par, so homes are definitely selling. Many people put their plans to buy or sell on hold at this time of year, but there are still plenty of buyers and sellers out there. Sometimes your decision to make a move is based on factors that have nothing to do with what time of year it is. If this is right time for you, your Local REALTOR® is ready to help!

Guide dog trainers, literacy instructors, paralympic athletes, seniors and pregnant teens all benefited from grants handed out today by the REALTORS^® Community Foundation. Flooring, roofs, vans, furniture, meals and counselling programs will also be paid for with the grants. Over $300,000 was allocated to 44 different projects operated by local charities in the Edmonton area. The Foundation has been giving out similar grants for 25 years and has contributed over $3 million since 1986. The funds are raised through the year at a number of REALTOR^® events such as the Santa’s Christmas Auction, annual Golf Tournaments or business meetings. Individual REALTORS^® also donate a portion of their commission from each sale.

The REALTORS® Community Foundation supports projects involving, shelter, homelessness, hunger, crime prevention and special projects. The Allocation Meeting, held at the Royal Mayfair Golf Club, was attended by about 180 people including REALTORS® and representatives of the charities.

“This is a very exciting time of the year for REALTORS^® as this is the day they know that by supporting their Foundation, they are making a difference in the community,” said REALTOR^® and Allocations Committee Chair Judy Shewchuk. “Our Foundation provides a wonderful opportunity for REALTORS^® to give back to the community which is their home and workplace”.

November 22 is also National Housing Day. “This celebration also brings attention to the need for affordable housing in communities all across Canada,” said Foundation President Dave Schroder. “REALTORS^® find homes for thousands of families each year but there are still people who need housing but cannot afford market priced homes or have special needs. It feels good to be able to support those people as well as our regular clients.”

 For more information about the Foundation, visit the website at: www.realtorscommunityfoundation.com

OTTAWA – November 15, 2011 – The Canadian Real Estate Association (CREA) has made a small revision to its forecast for home sales activity via the Multiple Listing Service® (MLS®) Systems of Canadian real estate Boards and Associations for 2011 and 2012.

Activity came in broadly in line with expectations across much of the country in the third quarter of 2011 with the exception of Ontario. Sales there came in stronger than anticipated in a number of regions over the summer, but were held aloft mostly by Toronto activity as the third quarter ended.

Stronger than anticipated sales in Ontario pushed up national activity in the third quarter, and prompted CREA to raise its annual sales forecast for 2011 from 0.9 per cent to a revised 1.4 per cent.

For more information, please contact:

Pierre Leduc

Media Relations / Relations auprès des médias

pleduc@crea.ca

 OTTAWA – November 15, 2011 – According to statistics released today by The Canadian Real Estate Association (CREA), national resale housing activity picked up a little further in October 2011 following the uptick in September.

Highlights:

• Sales activity rose in October, marking the highest level since January.

• Actual (not seasonally adjusted) national sales activity in October stayed in line with the 10-year average for the month, as it has most months this year.

• Year-to-date sales are also even with the 10-year average.

• The number of newly listed homes remained little changed from levels in the previous three months.

• While the combination of stronger sales and stable new listings resulted in a slightly tighter balance of supply and demand, the national housing market remains firmly rooted in balanced territory.

• The national average price posted a 5.5 per cent year-over-year gain in October, the smallest increase since January.

Homes sold through MLS® Systems of real estate Boards and Associations in Canada rose 1.2 per cent in October 2011 from the previous month. While national sales activity levels are still best described as average, the monthly rise in October sales built on the 2.5 per cent gain in September, and lifted activity to the highest level since January.

Media Relations / Relations auprès des médias

pleduc@crea.ca

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RAE_NOVAD_2-1.pdf (523 KB)

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RAE_NOVAD_2-1.pdf (523 KB)

If there’s one thing that your REALTOR® likes to see in the Real Estate market, it’s balance! Sellers love it when prices soar, and buyers like to leap at dips in prices, but the truth is that wild swings aren’t great for anyone. Right now, REALTORS® are seeing that balance. There are always going to be price changes from month to month. The recent price dips witnessed in October were very much expected, in line with what generally happens at this time of year. What really demonstrates balance is that there were the same number of residential sales in October of this year as there were in October 2010. Prices are generally slightly lower than they were a year ago, but activity remains at the same strong pace. The strength, stability and opportunity that exists here in the Edmonton Real Estate market makes it very attractive for investors, and as the province prepares for an upswing in the labor force, REALTORS® expect activity to remain strong!

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RAE_NOVAD_1.pdf (530 KB)

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RAE_NOVAD_1.pdf (530 KB)

Predicting weather in Edmonton is a sucker’s bet! You just never know when things will change. Your local REALTOR® is working with much better odds, when they forecast changes in the climate of the Real Estate market. REALTORS® fully expected to see prices for all types of property soften as Fall arrived (according to the calendar). Sure enough, October saw price dips almost across the board.

• Average price of single family homes in October - $362,897, down 3.4% from September
• Average Condo price in October-$223, 892, down 4.4% from September
• Average all-residential price in October -$319,985 down 3.9% from September

The average residential price reached its lowest point since March, but it still remained higher than a year ago. These price changes don’t appear to be part of any dramatic shifts in the marketplace, but just the typical changes that REALTORS® see every year at this time. That’s why it was so easy to predict it would come. If you want to know what to expect next, talk to your REALTOR® – but don’t ask them to predict the weather!

The Alberta Real Estate Association (AREA) presented a $100,000 gift to the Alberta School of Business on Wednesday, the first of five instalments in a $500,000 commitment supporting the Stan Melton Chair in Real Estate.

The U of A recently appointed David Dale-Johnson to the chair. Dale-Johnson, previously director of the real estate program at the University of Southern California, is focusing on the expansion of the real estate curriculum offered by the Alberta School of Business.

Paul McElhone, executive director of the school of retailing, said the creation of the Melton Chair "recognized the importance of real estate as a discipline within our student curriculum and the value of connecting students to career opportunities in the real estate industry. We greatly appreciate the significant support of AREA in helping us broaden our scope."

© 2011 Edmonton Journal. All rights reserved.

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RAE_OCTAD_4.pdf (524 KB)

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RAE_OCTAD_4.pdf (524 KB)

Your local REALTOR® is very involved in community initiatives and charitable endeavors. They’re committed to improving the communities they live and work in. It should come as no surprise that housing issues are of particular importance to REALTORS®. That’s why we’re very proud to support the efforts of the Edmonton Coalition on Housing and Homelessness, and in particular, their annual Homefest Concert. This is the 9^th year for Homefest, as the ECOHH works to draw attention to the desperate need for more affordable housing in Edmonton, with an ultimate goal of eradicating homelessness. Decent, affordable housing is essential for everyone in our community, and the artists that take the stage at this year’s Homefest are working toward that goal. Join your local REALTOR® for an afternoon of great entertainment with an even better cause, at this year’s Homefest, Sunday, November 6^th at the Transalta Arts Barn. Tickets are available now at Tix on the Square. To learn more about the concert and the cause, visit www.homefest.ca.

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RAE_OCTAD_3.pdf (526 KB)

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RAE_OCTAD_3.pdf (526 KB)

The REALTORS® Association of Edmonton recently revealed that our January forecast for the price of single family homes this year turned out to be rather conservative. While we’d predicted an increase of three percent over the year, single family homes actually went up in value by five percent in the first three quarters. Well it turns out that’s nothing, compared to the unexpected increase in the value of condos! Condominium prices were expected to remain static through 2011, with little change beyond minor fluctuations. Instead, Condominiums have matched the growth of single family homes, with a five percent increase in value through the first three quarters!

The average Condo price in January - $220,993

The average Condo price in September - $236,125 – up 5%

Of course, while they may be going up in value at the same rate, condos are still more affordable than single family homes. That makes them a very viable option for first time buyers, and it puts them at the heart of much of the market activity, as properties in the lower half of the price range are selling faster than more expensive properties. If you think it’s time for you to explore the busy condo market, your local REALTOR® is the person to get you started!

Once buyers have negotiated a mortgage and a purchase price for a home purchase they sigh with relief but the payouts have not yet ended.

The following article spells out some of the costs of a home opurchase that may not be included in the purchase price. CREA research suggests that the average post-purchase expenditure is $42,400 in thinks like decorating, renovating, landscaping, new furniture, window coverings, insurance, legal fees and moving expenses.

http://www.calgaryherald.com/business/real-estate/Homebuyer+costs+easily+escalate/5557717/story.html

For more information about purchasing a residential property see http://www.ereb.com/BuyingAHome/ReadyToBuy.html

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Your local REALTOR® isn’t always right. We’ll gladly admit when we’re wrong. For instance, the REALTORS® Association of Edmonton predicted a three percent increase in the price of single family homes in 2011. Turns out, that was a conservative number. Single family homes have actually increased in value by five percent, through the first three quarters of the year! That’s great news for the local economy, and REALTORS® welcome that extra two percent, even if it throws our batting average off when it comes to predictions.

The average Single Family home price in January - $310,766

The average Single Family home price in September - $375,738 – up 5%

As is often the case, an increase in sales goes hand in hand with the increase in prices. The numbers still indicate that properties in the lower half of the price range are selling faster, so sellers will want to make sure they’ve got an effective price strategy to make the most of these trends. REALTORS® remain very optimistic about the future of the local market too, with no reason to believe that prices are going to soften through the final three months of the year. And we usually get it right. Not always. But usually.

A few years ago, the federal Privacy Commissioner ruled a home's sale price is personal information and cannot be advertised or disclosed without the permission of the buyer and the seller.

This is what privacy legislation is all about - protecting your personal information. The lesson is that if you do not want to see your home's sale price advertised after closing, then don't agree to it.

In another case decided in 2006, an insurance company arranged for photographs to be taken of an apartment unit, without the tenant's permission. The purpose was to get examples of the state of repairs of the interior of the apartments to assist in figuring out the building's value. However, the pictures included some of the apartment's contents.

The Privacy Commissioner's office found that while the purpose might have been to show the condition of the unit, it also revealed information about the tenant, including their standard of living, whether they could afford expensive media equipment, whether they loved music or art or cooking. This was found to be personal information and thus permission should have been requested.

What this means is that before a buyer or agent takes photographs of anything inside a seller's home, even during an open house or home inspection, they should ask for permission.

In another case decided in 2008, a consumer asked their bank for a copy of the appraisal report the bank had done on their home. An appraisal contains information about other comparable property sales in your area that help the appraiser calculate the value of your property. The bank refused, claiming this was confidential commercial information and not personal information.

The Privacy Commissioner's office decided that, while the consumer was entitled to the appraisal value of their own home, they were not entitled to the name or contact information of the appraiser, or anything related to comparable property sales, as this was the personal information of third parties.

The issue of privacy arises in the ongoing lawsuit between the Competition Bureau and the Toronto Real Estate Board, something I've written about in the past few months.

The Competition Commissioner wants Canadians to be able to go online and access the selling price of any home in Canada. The potential abuses are huge, starting with thieves who want to learn about potential victims and their lifestyle. Since buyers and sellers didn't provide this permission, in my opinion, it violates privacy legislation.

It seems to me the Privacy Commissioner should be involved in these proceedings and I encourage all Canadians to complain to the Privacy Commissioner's office in Ottawa and to federal Industry Minister Christian Paradis. To register a complaint to the Privacy Commissioner's office, you can download a form from their website, www.priv.gc.ca, sign it and then send it in. You can email Paradis' office at:

minister.industry@icigc.ca.

Mark Weisleder is a lawyer, author and speaker to the real estate; industry. Email him at ; mark@markweisleder.com

© 2011 Torstar Corporation

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The global economic picture hasn’t exactly been rosy through 2011. Amid the doom and gloom that surrounds the stock market and financial news, Edmonton home owners are actually finding quite a bit to smile about. While the stock market and the Canadian dollar have plunged recently, your home has seen a much better return than almost any other investment! Single family home owners have seen the value of their homes increase by five percent since January. Even your savings account isn’t seeing that kind of interest. Of course, for many owners, your home isn’t simply an investment. Your home is where you live and raise your family. That’s something that stocks and bonds can’t offer. You may not see your home as an investment, but seeing its value increase by five percent is still reason to smile!

Darrell Cook a member of the REALTORS® Board of Directors discusses a point with Councillor Tony Catarina at a lunch sponsored by the REALTORS®

One issue addressed at the lunch that REALTORS recently had with members of Edmonton city council was roadway signage safety and clutter. REALTORS® identified that they appreciate the priveledge granted to them to post temporary Open House signs along roadways and public boulevards. The Association ensures that every member understands the rules and regulations related to the positioning of signs to ensure roadway safety and that sightlines are maintained. The issue is that non-represented sellers and people selling other goods often assume that their signs are welcome as well and place their signage in inappropriate or illegal locations.

Several years ago, the City operated a crack down on illegal signs and actively gathered up the signs and issued fines to people placing illegal signage. This included some real estate signs and the Association did not defend the inappropriate sign placements of its members. The result of this crackdown was that out of date election signs and inappropriate signage was cleared off municipal roadways and the city was cleaner for it.

REALTORS® urged the city to be aggresive with illegal signage and to operate crackdowns on a regular basis. The Association pledged to assist in any way possible and opened the door to further discussion of this issue.

Government Relations committee member Ramey Damien chats with Councillor Jane Batty at a lunch sponsored by the REALTORS® Association of Edmonton

REALTORS® and members of Edmonton City Council and the administration sat down for lunch to discuss mutual issues of concern. As you would expect at a meeting of friends, the meal was relaxed and cordial and Council was open to the suggestions coming from REALTORS®.

REALTORS® pointed out that they are licensed to "trade in real estate" anywhere in the province of Alberta. However, municipal regulations often require that they purchase a business license. They must get a resident license in the community where their office is located and a non-resident license in most other municipalities where their either list or sell property. This is a significant cost to the brokerage and could total over $3,600 if they purchased a license in each community in the Capital Region or a potential total cost of $662,000 to the industry.

The potential amount collected by the City of Edmonton from non-residential business licenses is a trival $43,000. This is much less than the cost of enforcement and becomes both a cost and a negative drain on business and population growth and development. It is conceivable that a potential purchaser may be steered away from purchaing property in Edmonton becasue their REALTOR® has not purchased a business license in Edmonton.

REALTORS® are not opposed to paying for a business license in the community where they are based but asked the City to honour business licenses issued by other municipalities in the Capital Region and urge other municipalities to provide the same level of reciprocity.

The councillors offered to study the issue.

REALTOR® president Chris Mooney chats with Gary Klassen (Planning) and Councillor Amarjeet Sohi at lunch.

REALTORS® have worked alongside the City of Edmonton Council and administration for over 85 years. Together we have helped to build a great city. The relationship has mutually adventagous features and is the foundation of a real estate marketplace that features harmony, equality and fairness.

Edmonton is the only City in Canada, and perhaps North America, that lists and sells all its residential and commercial real estate through the services of the Multiple Listing Service®. The City Broker understands that exposing their property to the most number of potential buyers and their REALTORS® is the best way to get value and efficiency in their real estate transactions.

Real estate buyers want to know what the municipal taxes are on their new property. REALTORS® can look up that data directly from the MLS® listings and tell then immediately. The City shares this data with REALTORS® in exchange for information about current residential sales prices.

The City also benefits from REALTOR® largesse in both direct and indirect ways. When Sir Winston Churchill Square was redeveloped, REALTORS® provided the benches and hististorical plaques that line the east side of the Square. This is a quiet spot to meet people, relax and catch up on how the development of housing matched the growth of the CIty. In addition the REALTORS® Community Foundation gives back about $300,000 a year to local charities.

So when the REALTORS® Board of Directors and government relations committee invites the City Councillors and select administration managers to lunch, they are glad to respond. Unfortunately the Mayor and City Manager were unable to attend becasue they were, ironically, out of town to negotiate a real estate deal on a new arena.

The market for rental condos is becoming almost as hot as Toronto’s resale housing market with bidding wars breaking out among tenants trying to snag prime units.

While some 21,000 units are now under construction in Toronto — 5,707 of them in the downtown core — demand for rental condominiums continues to far outstrip supply, housing experts say.

That’s driving some tenants to offer up to six months’ rent in advance, or more rent than condo-owners are asking, especially for increasingly rare two-bedroom units.

In fact, the condo rental market has become so fiercely competitive the last year in particular that would-tenants are being urged to not even look at prime downtown units without bringing along a printout of their credit rating, proof of their annual salary and a willingness to pay more rent if need be.

For the rest of the article see http://tinyurl.com/4ykba3m

With anticipated population growth in Alberta we could see the same situation arising in Edmonton. Condos and rental suites in prime locations may be under pressure with multiple offers and inflated rents. This is good news for the developers who have a surplus of condo inventory right now that is pushing down prices. Although condo prices are up 5% from last December the situation may be temporary and condo prices could dip. The demand for rental accomodation could forestall that drop and encourage investors to snap them up.

The development of additional rental accomodation around the new arena is also proposed in the master plan and Katz may be able to exploit the demand to encourage development of the additional buildings.

Once again, it is the wild west.

For release:   October 4, 2011

Edmonton, October 4, 2011: The owners of single family homes in Edmonton and area have seen the value of their property increase more than many other investments. While the stock market and dollar have plunged recently and interest on savings accounts is minimal, local homeowners are seeing a five percent increase in the value of their residential property this year. Compared to prices on December 31, 2010, a single family dwelling has increased on average* 5.1% and a condo has increased 4.9%.

“REALTORS® remain optimistic about the future of the local market,” said REALTORS® Association of Edmonton President Chris Mooney. “In January, we forecast that single family homes would be priced about three percent higher at year end. Now they are priced five percent higher and we don’t anticipate that prices will soften very much in the fourth quarter. We did not anticipate an overall increase in condo prices so we are a little surprised that condo prices are also up almost five percent.”

The average price for a single family detached home in September was $375,738, up 1.4% from a month earlier. The average price of a condo was up 2.1% to $236,125 during the same period. The average residential price in the Greater Edmonton area in September was up 2.6% to $332,782 from $324,217 in August. Duplex and rowhouse sales of just 66 units in September showed an average price drop of 3.2% to $296,117.

The consumer confidence that has allowed housing prices to rise has also spurred sales. There were 1,345 residential property sales in September, with listings of 2,585 residential properties. The residential sales-to listing ratio was 52% with homes resting on market for an average of 56 days. Total MLS® listings numbered 3,292 with total MLS® sales of 1,536 properties of all types.

“Movement of properties in the lower half of the price range is faster than the more expensive properties,” said Mooney. It takes 48 days on average to see an SFD priced below average compared to 53 days to sell a home priced over the average. “The consumer is price conscious and with 8,062 homes currently on the market, the buyer has lots of choice. Sellers should ensure that their home price is based on current market reality and not a fantasy if they want to sell in a reasonable time period.”

There were 3,178 REALTORS® ready to serve clients at the end of September 2011.

-30-

*Average prices indicate market trends only. They do not reflect actual changes for a particular property, which may vary from house to house and area to area. Prior period figures have been adjusted to include late reported sales and cancellations and therefore reflect a more accurate view of the period than previously reported at month end. For information on a specific area, contact your local REALTOR^®.

The REALTORS^® Association of Edmonton (Edmonton Real Estate Board), founded in 1927, is a professional association of Brokers and Associates in the greater Edmonton area. The Association administers the Multiple Listing Service^®, provides professional education to its members and enforces a strict Code of Ethics and Standards of Business Practice. The Association also advertises property listings and publishes consumer information on the Internet at www.REALTOR.ca and www.ereb.com, as well as in the Real Estate Weekly and on their web site at www.rewedmonton.ca. REALTORS^® support charities involving shelter and the homeless through the REALTORS^® Community Foundation.

Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR^®) and/or the quality of services they provide (MLS^®).

Review these statistics and more at www.ereb.com.

Highlights of MLS^® System activity

^[1] Residential includes SFD, condos and duplex/row houses.

² Single Family Dwelling

³ The middle figure in a list of all sales prices

Contact: Chris Mooney, REALTOR^®, 2011 President, 780-232-3386

  Ron Hutchinson, C.A.E., Executive V.P., 780-453-9340

  Jon Hall, C.A.E., Manager Communications, 780-453-9323

Canada's property market is cooling, but still stands out as one of the best performing in the developed world, according to a report by Scotia Economics.

Out of the nine markets studied in the report only Canada, France and Switzerland recorded price gains in the second quarter.

For the rest of the story see http://www.torontosun.com/2011/09/27/canadas-property-market-a-standout

On September 21, 2011, the Royal Canadian Mounted Police revealed a new initiative for dealing with marijuana grow operations. Speaking of the strategy, known as the Marijuana Grow Initiative (MGI), MP Shelly Glover, on behalf of Vic Toews, the Minister of Public Safety, said, " The Government of Canada is taking action to combat illicit marijuana cultivation in Canada, as well as the criminal elements behind it."

Addresses of Grow Operations to be Put Online

The RCMP have started a page on their website to list the addresses of properties that have been determined to have been used to grow marijuana as well as those locations where illicit laboratories manufacturing other drugs have been found.

The addresses that are found on the RCMP web page are restricted to those operations and laboratories that have been dismantled by the Mounties after search warrants had been obtained.

Read more at Suite101: RCMP Announces New Strategy to Combat Marijuana Grow-Ops | Suite101.com http://www.suite101.com/news/rcmp-announces-new-strategy-to-combat-marijuana-grow-ops-a389929#ixzz1YmpFMZEK

Locally, REALTORS have been on the forefront of the fight to identify and prevent grow-ops. The REALTORS Association of Edmonton was a founding member of the Edmonton Stop Marijuana Grow-Op Coalition and our Executive Vice President, Ron Hutchinson, is now the co-chair of the committee. The first and second editions of a consumer brochure about how to spot a grow op was produced by the REALTORS Association and distributed throughout the community. It was also provided to other communities so that they could duplicate the publication.

The identification of former Grow Op locations is an important issue for REALTORS. None of our members want to sell a home that may be contaminated with mould or which once contained hazardous materials. At the same time we don't want to prevent a landlord or investor from selling a property that may have been used illegally and unknowlingly for growing pot. The solution to this paradox has been to push for remediation standards that would allow a homeowner to repair a damaged home and then put it on the market. It also would give assurance to a buyer that their home is safe for habitation even though they are aware of its nefarious past history.

Capital Health (now Alberta Health) maintains a data base of homes that they have issued an Order for. The Order states that the property is unfit for human habitation. The Order is listed on title but lifted when the Order is removed. The data base contains a record of the Order in perpetuity. Now Alberta Health has released a set of remediation standards that will be tested in real life situations. In addition to the RCMP website, we are on the way to protecting the consumer and still ensuring that owners property rights are maintained.

For more information about the RAE involvement in this issue call Jon Hall, Marketing Manager at 780-453-9323. 

REALTORS® Association of Edmonton VP James Mabey appeared on Breakfast TV this morning with Ryan Jesperson. He used the average prices of homes sold in August to demonstrate how housing prices differ from community to community.

"Sometimes you have to drive 'til you qualify," said Mabey, illustrating the fact that homes further from the central core are often cheaper than homes closer in. He went on to explain that a homeowner should add the anticipated cost of travel to and from the city for shopping, work, recreation, culture and sports to the property price to calculate the true cost of housing. However, if the centre of your life or work is not in downtown Edmonton you may be able to either save money on your home purchase or buy more house for the same dollars if you live in an outlying community.

In August 2011 the average price of a single family or condo varied as follows:

For example the average price of a single family home in St. Albert was 12% higher in August than the average prices property in Edmonton. Yet in Wetaskiwin, the price was 39% less. Mabey explained that the prices may vary not only because of market forces but also because of the type of property available in each community.

Mabey clarified that condos in smaller communities may be larger and more opulent than the typical condo in Edmonton and therefore more expensive on average. Also the small number of condo sales in smaller communities could result in misleading statistics.

For complete information about local market pricing and how much home you can afford, talk to a local REALTOR®.

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Edmonton is a great city, but it’s only a sum of its parts. There are many different communities that come together to form Edmonton. And come together is exactly what those communities will do, on September 17! It’s the Community League Day City Wide Festival!  In the community you live in, there’s a Community Association that works very hard to make your area a wonderful place to live. Your local REALTOR® is likely to be a part of that association. As a group, the Edmonton Federation of Community Leagues is where those various associations come together to share ideas, support one another, and plan events like Community League Day! On September 17 Edmonton is going to buzz with activity, as many associations stage special events- such as barbecues, concerts, family festivals, circuses and outdoor movies. There are all kinds of events, in communities throughout Edmonton. Help your community celebrate Community League Day, and take part in the City Wide Festival. Visit www.efcl.org  to find out what’s happening in your neck of the woods!  The Community League Day City Wide Festival is proudly sponsored by local REALTORS®. 

There seems to be a gap between plans and reality when it comes to becoming debt-free, according to a new poll released by CIBC.

http://www.propertywire.ca/news/national-news/1337-canadians-feel-they-will-be-debt-free-by-age-55-cibc.html

According to the report, “On average, Canadians holding some form of debt today feel they will be debt-free by age 55. However, the poll also found that only one-third (35 per cent) of Canadians in the 55-64 age group today are actually debt-free.”

"Being debt-free is a long term financial goal for many Canadians, and this poll suggests Canadians are actively looking ahead to the stage of life they will be in when they successfully pay off all of their debt," said Christina Kramer, Executive Vice President, Retail Distribution and Channel Strategy, CIBC.

So then, the key to success appears to be identifying a strategy that is in line with the goal, and sticking to it.

See the whole story at:

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There’s a hat! And there’s a hat! And there’s one! You won’t be able to take in Edmonton’s Summer Festivals, without seeing The REALTORS® Association of Edmonton’s volunteer caps bobbing through the crowds. That’s because these festivals wouldn’t be possible without the heads that are under those hats - each one belonging to a dedicated, hardworking volunteer! Your local REALTOR® is proud to provide a little protection from the elements to volunteers, in the form of cadet caps. They’re also proud to support events like the Fringe Festival, the Dragon Boats and Symphony Under the Sky - often working as volunteers themselves. These festivals have become a big part of Edmonton’s identity as a city, and anything that promotes our city as a great place to live takes a high place on your local REALTORS® agenda. So thanks to all the volunteers that help make our summer festival happen! When you see one of those volunteer hats, be sure to give the wearer a tip of your own hat! There goes one now! 

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Everybody knows somebody who has “that place” they go, to take advantage of every warm weekend that summer affords us. At the lake. At the beach. Not at home. A recreation property. We’re all envious of their freedom.  A recreation property can be viewed as an investment, whether that means you use it to generate revenue, or maybe a way to invest some time with family. This is actually a great time to explore recreational properties in the Edmonton area. So far this year, 274 recreational properties with homes have been listed in the Edmonton area. The average price sits at about $250,974. Of course, when you make this sort of purchase, you do so knowing that over the years you’ll save “x” amount of dollars in vacations you would have spent somewhere else. Instead, you get to be the person with “that place” to go, whenever you get the chance. Your local REALTOR® is familiar with the many different recreational property options available in the area, and can help you find “that place.”

Is Canada in bubble-trouble?Check out what experts have been saying since 2009.

http://tinyurl.com/3zyhcxa