Homes like these energy efficient Oxford area homes are becoming more affordable in Edmonton Photo credit: CTV

This week, RBC Economics released a report that states that overall, Canada’s real estate has become slightly more affordable.

Even with the fast-rising prices in Vancouver and Toronto (and to a degree Calgary), the country is still in relatively good shape.

RBC Economics says that rising household incomes, lowered utility costs and low interest rates are making it easier for people to enter the market.

As you might have seen in our last post, there are many factors at play that can influence affordability and pricing of real estate. The Canadian Real Estate Association quoted a 7.1% year-over-year increase over October 2013. The MLS home price index posted price gains of 5.5% over last year (which is quite a bit lower than CREA’s numbers).

Either way, with the big three markets influencing our national landscape, it may seem easy for some to believe that home affordability is slipping away.

It isn’t.

Across the western provinces, homes have slightly risen in price—once we remove Calgary and Vancouver from the equation. Both cities’ markets have witnessed growth far beyond the national average. In many other markets, we’ve seen only slight to moderate growth at rates that are very comfortable for those markets.

We call the prices respectable because the drop in fixed mortgage rates is keeping the market strong. Also, the gradual rising incomes in the west are also helping to keep homes affordable.

So many of us are preparing to hear panic about the market, but the price conditions of Edmonton homes—as well as other western cities—are robust with a firm foundation.

We have settled into a solid growth trend, and affordability for Edmonton home buyers is improving. It’s never been a better time to get into the market.

If you are thinking about buying or selling your Edmonton home, get in touch with the Edmonton Home Pros team.

We’ve got the experience to help you make sense of the market and find the home that’s right for you and your family.

Pavillion dancers are just one of the many draws of the Heritage Days Festival. Photo Credit: Edmonton Tourism

It isn’t hard to be proud of Edmonton. The capital city has a lot of great things going for it: Active communities, a growing economy, and Alberta’s creative spark.

But Edmonton has something else that is sometimes forgotten about, and because of our city’s size, we sometimes forget just how great and important it is.

We’re talking about Edmonton’s unique multicultural spirit.

Throughout the summer, it gets easier to see people at events and cultural celebrations, but it’s during the August long weekend that our city’s multicultural vibrancy comes to life on stage, in our bellies and throughout the William Hawrelak Park grounds.

This year’s Heritage Festival looks like it will be the biggest yet.

The Servus Heritage Festival runs from August 2 to August 4, and this year it turns 39, which is no surprise, since it draws nearly 350,000 people over three days.

People from all walks of life and from all areas of central Alberta flock to the food, performances and craft market in a weekend-long gesture of sharing and neighbourly spirit.

This year, the Heritage Festival boasts more than 60 food pavilions from all over Africa, Asia, Europe, the Middle East and South and Central America. Every year, this festival has new additions and a whole host of culinary surprises. There are also a cluster of stages for cultural dance and live performances, and several pavilions have craft markets attached for light shopping.

Edmonton’s multiculturalism is one thing that we are especially proud of. Edmonton Home Pros has been expanding the languages of our home listings services in order to improve the offerings available to various communities in Edmonton. From Cantonese to Chinese to French to Tagalog to Arabic to Korean, we work hard to make sure that people can find what they need when it comes to buying and selling Edmonton Real Estate.

And as more new Edmontonians join our communities, we hope that the Servus Heritage Festival becomes the food and cultural highlight for them that it is for our team. In the meantime, we hope to see you on the festival grounds!

And be sure to get in touch with us if you have any questions about our multilingual services, or if you would like to buy or sell a home in Edmonton.

Stephen Lau and the Edmonton Home Pros wish you a safe and pleasant Canada Day. If you would like assistance buying or selling your Edmonton property, Sherwood Park real estate home, Leduc real estate house, or your St. Albert house, look no further than the Edmonton Home Pros. Contact Stephen Lau and his team today. 

Happy Holidays & All The Best In 2014

The Edmonton Home Pros Team would like to wish you a festive Holiday Season filled with joy and among great company. We also wish you the very best this New Year. May 2014 be your best year yet! Set high goals for yourself this year and you will be amazed with what you can accomplish.

If one of your goals is to buy an Edmonton real estate home, contact Stephen Lau and the Edmonton Home Pros Team. We will listen to your needs, wants, and budget then work with you to find the perfect Edmonton property to call home. This Homebuyers Consultation is available to you at no cost!

If you’re interested in placing your Edmonton home on the market, feel free to contact us! Allow us to assess what your home is worth and advise you on selling your Edmonton property. Then, through our extensive Edmonton network, we will maximize your home’s exposure and find you the right buyer!

Thinking of Becoming A First-time Homeowner?

Are you and your partner Edmonton residents who are thinking about becoming first-time homeowners? Purchasing an Edmonton real estate property before tying the knot is becoming increasingly common among young couples. An article released by The Real Estate Magazine states more and more couples will purchase a home for sale before getting married. The information was collected through a study, and reveals a strong shift of mindset when it comes to homeownership among younger generations. Other interesting numbers in the article include:

• — Over 1 in 3 married homeowners bought their first home together in time for their second wedding anniversary.
• — A small 16% of married adults in the survey had not purchased a home together with their spouse.
• — 80% of participants said that buying a home with their spouse strengthened their relationship as a couple and family. More than any other purchase they made together.
• — 35% of married homeowners confessed they regret not entering into homeownership sooner.

“About one in four married couples between the ages of 18 to 34 purchased their first home together before their wedding date, compared to 14 per cent of those ages 45 and older….While life goals and expectations continue to weigh on young couples, their views of homeownership are transcending their plans of marriage and starting a family, creating a direct effect on the patterns of buying a home altogether,” Click here to view the full article.

If you’re thinking about becoming a first-time Edmonton homeowner, get in touch with the Edmonton Home Pros team. Stephen Lau and his team of professionals have extensive experience in successfully helping couples take the plunge into homeownership. Through a complimentary Home Buyers Consultation, they can determine you and your partner’s needs then help you find an Edmonton property perfect for you. Curious about homes currently on the market? Use this interactive search map to browse through listings. Once you find what speaks to you, give the Edmonton Home Pros team a call!

Strathcona’s lower crime will attract more Edmonton home buyers.

The Edmonton community of Strathcona is one of the city’s most treasured areas. Its residential neighbourhoods are filled with rich heritage, mature trees, and a renovated mature homes. The community also has a high walkability score, making it very easy for residents to access nearby amenities, dining locales, bars, pubs, grocery stores and even the Edmonton River Valley. Due to its ideal location, Strathcona homeowners can easily commute to South Edmonton or downtown.

Strathcona Public Building Photo by: daryl_mitchell

Strathcona is increasingly growing in popularity. From its renowned entertainment district, Whyte Avenue, to its historical features, the community is getting a lot of buzz. More recently, the Edmonton Police Service (EPS) released figures, which stated crime had dropped 31% since 2009 in Strathcona. Additional information released by the EPS can be found below:

• Homicides have remained at zero over the last four years to-date, except for one case in 2011.
• Robbery cases have dropped.
• Decreased crime as noted by local businesses.

If you’re looking to buy an Edmonton home for sale in the community of Strathcona, now is the perfect time! As the crime rate continues to drop the community’s popularity continues to grow, the Strathcona real estate market will attract Edmonton homeowners from across the city.

Thinking about buying a Stratchona Edmonton home for sale? Stephen is backed by a solid team of professionals who are Edmonton area experts and can help you find the perfect Strathcona property to suit your needs and budget. Contact Stephen Lau today!

Are you tired of making rent payments that don’t go towards something? Transitioning from renter, to first-time home owner is easier than you think! Edmontonians are fortunate to live in a city that has a strong housing market, low interest rates, and favourable conditions for first-time home buyers. Choosing a condominium property as your first home has many benefits:

• 1) Low Competitive Prices: There is an array of condos to choose from in the city with more and more developments in the pipeline. Search through our extensive list of Edmonton Condos For Sale and you will surely find something!
• 2) Extensive Support For Home-Buyers: The Edmonton Home Pros Team are industry leaders and professionals. They provide extensive Real Estate support to first-time home buyers. Stephen Lau and his team also makes sure you have tons of resources and information available to help you along the way.
• 3) Attainable Mortgage Rates: Low interest rates make a huge impact your opportunities to purchase an Edmonton condo. Depending on the property your mortgage payments could be lower than what you currently pay for rent!

If you’re concerned about making the Down Payment on your first condo, consider turning to a financial institutions for support. Many of them offer programs to help you with the deposit on your first Edmonton condo. The Edmonton Home Pros team also has a list of business associates which include Mortgage Professionals, Lawyers, and even Developers. Start a conversation today and you will be well on your way to home ownership. Contact Stephen Lau and the Edmonton Home Pros Team!

Its back to school season in Edmonton! From cheerful Elementary kids taking the yellow school bus to University students on the LRT, Edmonton streets are once again filled with backpacks and coiled notebooks heading to class. So how do educational institutions affect the local real estate market? To start with, housing prices are always higher near reputable schools due to the strong demand. If you are looking to buy an Edmonton home for sale during the late Summer of Fall, there are couple of things you should keep in mind:
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As Summertime comes to an end and September approaches, the thing on many people’s mind is back to school. The return of students at Edmonton’s post secondaries means increased, rush hour traffic, fresh faces in Downtown Edmonton and back to school commercials on T.V. But what can it mean to an Edmonton homeowner and how can they use it to their advantage?

Secondary entrances to the secondary suite are best.