Edmonton Houses And Homes

What Happens if Your Home Closing is Delayed?

The majority of closings happen on time or within a few days if issues need to be addressed. If closing is not completed, and buyers can be left homeless. This is a terrifying thought, however, it does happen. Below are five reasons which can lead to a delayed or canceled possession date.

REASON ONE: UNREALISTIC CLOSING DATE

Don't expect to write an offer and be in your home the next day. It takes time for lawyers in Alberta to clear and transfer the title to you. The actual registration process can take a day or two or a few weeks depending on how busy the Land Title Office is and the transfer of land process takes about 3-7 days. An experienced real estate agent will know whether the contract dates are realistic or not.

REASON TWO: REAL ESTATE APPRAISAL ISSUES

When buying or selling real estate you need to understand that a large piece to a successful home sale is the bank appraisal. A bank appraisal is part of a real estate transaction anytime...

What is a Housing Bubble and How Does it Affect You?

You have heard the term "housing bubble", but what does it actually mean, and is Edmonton experiencing one? Whether you already own a home and waiting for the right time to sell, or are considering buying another property in the near future, it is valuable to know whether to buy and sell in a housing bubble and how it may affect you.

A housing bubble happens when the price of homes rises quickly, at an unsustainable rate. Typically, a price-growth rate that’s in the high single-digits is considered to be healthy and sustainable. Under healthy conditions, homeowners continue to earn equity over time, sellers can make a profit on resale, and buyers can still afford to get into the market. This has been the trend in most Canadian provinces except for Alberta over the last decade where Alberta house prices have plateaued and in some places dropped dramatically.

What Usually Happens When a Housing Bubble Bursts?

During a housing bubble,...

"Home Sweet Home" & Covid 19

During the pandemic, Canadians' homes became offices, movie theatres, classrooms, gyms, and "staycation" destinations. As Canadians spent more time at home out of necessity, renovations, additions, moves, and upgrades soared.

According to a recent survey conducted by the Royal Bank of Canada, 40 percent of respondents renovated their property or intended to during the pandemic. And 30 percent intended to purchase significant items for their home

Here is how we have reinvented our houses in Edmonton indoors & outdoors:

Home offices became essential workspaces and online schools. Backyard sheds, spare bedrooms, and attics were remodeled into home offices and schoolrooms. Garages and basements were converted to home gyms. Gardening became a new trending hobby for many Edmontonians and RV became a hot item for nearby camping.

The demand for new homes with potential basement suites and side entrances skyrocketed. Houses with triple garages and acreages within...