Curtis Leibel 780-438-2500

900 sq foot 3 bedroom, 2 bathroom home in the always desirable community of Mckernan.  Great holding property as its sitting on a huge 53 x 130 lot.  Just steps from the Mckernan splashpark and playground, this home is in the perfect location- only a few blocks from U of A campus and hospital, public transportation and Whyte Avenue.  Just brought back on to the market with a $40,000 REDUCTION!

Real Estate has been deemed essential service – as there are people that still need to buy/sell their homes even in these uncertain times.  In these cases, there are certain measures that we have been taking to ensure everyones safety.

First off, no more open houses – of course to limit interaction with other people.

Sellers/tenants in the past were required to allow access to their home within a certain time frame if asked.  Now they have the right to limit/restrict access if deemed at risk.

We also have new standardized pre-showing questionnaires for buyers and their agents to sign 24 hours before accessing a property to ensure they have not been traveling or currently showing  any signs or symptoms.

These are just a few of the precautions we have been taking to allow people to still search/sell their homes in a safe manner.

Hope everyone is staying healthy and keeping positive during these uncertain times.  I thought I would take the time while things have slowed down a bit to keep everyone in the loop on whats happening with our Real Estate market.  Not a day goes by without someone asking me about how much Real Estate prices have dropped in the last month.  While it is definitely true that all activity has currently grinded to a halt (only the people have to buy/sell are currently active)- we have yet to see what direction the market will be going.  Now we can obviously see that house prices should and will start to drop – as an immediate result of economic shutdown.  Of course.  However – this is typically our busiest time of year, and alot of people had planned on moving now…..and keep in mind, alot of the people that would have been buying/selling now will still want/need to do this once our restrictions have been relaxed a bit.  Combine that with historically low interest rates, undervalued properties,  and who knows, maybe some eventual gains in the oil market and Canadian dollar, a few positive stories in the news, and you never know….we could see a return to our regular busy spring market whenever this is all over.  Optimistic?  Absolutely. But I know there are currently some deals out there that Ive never seen before, and other savvy investors are going to start to recognize that too…..

Stay safe everyone – and any Real Estate questions during these quiet days dont hesitate to contact me.

There has been a lot of chatter recently about our current market in Edmonton trending towards being a “buyers market”.  Although true in some sense of the term, I believe it needs a bit more clarification.

Yes – it is a great time to be a buyer.  If you have been thinking about taking the next step and looking into home ownership, now would be a good time to do so for a number of reasons.   Inventory is currently up, meaning you have a higher selection than previous years- about 16% year over year to be exact (compared to the number one year ago).  The average days on market is up to 53 days as well, which is quite a bit higher than typical.  Furthermore, analysts predict that we will see 2 additional interest rate hikes before the end of the year.  Getting a preapproval locked in or getting a mortgage assigned to a house now before rates go up again could very well result in saving $10’s of thousands of dollars over the course of a mortgage.

However – if you are currently selling, dont be too alarmed.  Although inventory is up, prices have yet to go down.  The average single family home sale price is ~$442,000 – which is up 0.4% since this time last year.  As well, there are plenty of buyers currently searching for their new home and when the right home comes up at the right price, it sells quick; sometimes with multiple offers.

Hello and welcome to the new year – one which many local professionals predict should yield a strong local real estate market.  Because of this, our policy makers are doing their best to ensure we continue to have a balanced market – one that is neither over or under inflated.  With that, here are some real estate news items you can expect to come across over the next year:

1. New stress tests to ensure buyers have sufficient resources to cover their housing fees in the event of rising rates and prices.  The one that is already in place is prospective buyers needing to be able to afford a mortgage at either:                                                                                                                                                                  a) Two percentage points higher than whatever rate they are able to get from a lender,or                                       b) At the five-year average posted rate, according to the Bank of Canada
2. Foreign buyer taxes – with a successful 15% levy imposed on foreign buyers in both Toronto and Vancouver, it is possible to see similar taxes in other booming metropolises being inundated with foreign investment.
3. National interest rate hikes – with interest rates remaining so low for so long, we are destined to see correction over the coming years.  Last year, we saw the Bank of Canada raise interest rates twice in the previous year, with many experts predicting the same for the coming year.
4. Release of sale of home data – since the Toronto Real Estate board was court ordered to release data regarding home sales last year, expect the trend to continue in other markets.

These are just a few of the many hot topics in Real Estate you will encounter over the next year.  If you have any questions, or want talk some more on other ideas and concerns that you think will come up over the year to come, Id be happy to participate 🙂

Whenever I go complete a listing presentation with a new client, the most common question I get is “how will my property be marketed?”  Our team here is consistently coming out with new marketing strategies, and here are some of the things you can expect with your listing:

1.  MLS – first and most importantly, your home will be put on the mls system which provides online access to every Realtor in our area.
2. Realtor.ca – This is the online version of your home that is available to the public.  Anyone searching www.realtor.ca for a home in your community will come across your property.
3. Website – all new listings with Maxwell Realty will get their very OWN website dedicated to just your property.
4. Personal Blog – Any of my listings will be linked directly to this website, as well will get a dedicated blog section devoted to it.
5.  Virtual Tour – your property will be linked to a virtual tour that displays your property in the best and most accurate way possible
6. Youtube – you will also get your very own youtube video and link that anyone can access.
7. Hilite sheets – will be provided on site for any prospective buyers to take with that.
8. EPostcards – will be designed to be distributed online to anyone with potential interest in the property.
9. Jumbo postcard/ flyers – can be created for print media.
10. Maxwell Realty Devonshire website – in addition to the MLS, Realtor.ca, and its own dedicated website, your listing will also be uploaded to our Maxwell Realty branch website for viewing.

These are just some of the ways we intend on marketing your property.  We are also leading the way in marketing analytics and are able to provide you with up to date information regarding the effectiveness of many of these marketing methods.

I have a beautiful new duplex officially on the market in the desirable community of Glenridding.  The feature that separates this duplex from the others is the ample square footage.  Coming in at over 1450 sq ft, this home has plenty of space.  The main floor boasts a large floor plan with open concept between the living room, dining area and the kitchen.  Kitchen is upgraded with granite countertops, mosaic tile backsplash and stainless steel appliances.  3 bedrooms upstairs with full bathroom and walk in closet off the master suite.  The yard is low maintenance and there is a double detached garage in the back.  Feel free to contact me for more information before its too late!

I have another great listing in the condo complex of Cedarbrae Gardens.  If you are looking to get into a well run building in a good location at a minimal cost, this is the place.  Updated 844sq ft, 2 bedroom unit has new vinyl plank flooring, modern paint and light and fixtures, and in suite laundry.  Enjoy the surroundings and greenery on your private balcony.   The complex also features a social room, an exercise room, a guest room for rent and a delightful green area in the center surrounding a gazebo.  All this for under $170,000.

This is my 3rd post on Real Property Reports (RPR’s) now – the first 2 talking about what it is and how it applies to the sale of the home.  This time I want to talk a bit more of what the benefits of the RPR are when purchasing a home.  Just to reiterate, an RPR will be supplied by the seller at the time of purchase which shows all the boundaries and structures on the property.  All information is from the Realtors Association of Edmonton.

Benefits:

1. It shows the exact location of all items on the property (including the fence) and if they are within the property boundaries
2. It will also show any easements or utility right of ways on the property
3. Any encroachments will be displayed ( can be your property encroaching on the neighbors, or the neighbors property encroaching on yours)
4. It provides certainty to the buyer that all deficiencies and encroachments are known of before the completion of the sale
5. Provides documented evidence of the existing structures at the time of purchase
6. It can be reused in future sales, provided no changes have been made

There are also some drawbacks to the RPR (most obvious being time and significant cost) which will be discussed in future posts.  However, at this time the residential purchase contract used in home purchases in Edmonton still requires an RPR to provided by the seller before the sale of any home – unless otherwise stated.

I have a brand new beautiful townhouse listing in Victory Village.  This updated 3 bedroom 3 bathroom home with attached single garage has everything you need.  The main living area has hardwood flooring, tiled fireplace and updated colors and trim.  There is a large galley kitchen with lots of cabinets and an adjacent dining room with tile flooring. 3 large bedroom upstairs as well as walk through closet and full 4 piece ensuite off the master bedroom.  All the appliances have been updated, as has the hot water tank.  Additionally, there is a recently finished bonus room in the basement that can be used as a tv room, office, or even an exercise room.  With an unobstructed view of greenspace directly behind the unit, this is one of the most desirable units in the complex.  For more pictures, look online at E4050527 or call/email for more information.