Ryan Broos

Cell: 780-239-5948 |

Welcome to my Blog!

This is the place where I rant about whatever I like, though I try to keep it mostly Real Estate related. Whether you are looking to by a home in the Edmonton area or anywhere else, I am sure you can find some helpful advice here. Use the sidebar to navigate through my blog to access either my Real Estate section, Market Updates, Home Buying/Selling Tips, Recent Sales, or my Random section where I talk about anything and everything. Feel free to leave comments, I'd love to hear from you!

 

Ryan Broos, Remax Real Estate.

I have listed a new property at 14045 145 AVE in Edmonton.
Welcome Home. This 1852 Sq Ft Cameron built home is sure to impress. The open concept main floor has a spacious living area with a gas fireplace. Very functional kitchen with large island and eating bar, granite counter tops, and sunny eating nook. Main floor laundry and a half bathroom finish off this floor. The second floor has a huge bonus room, full bathroom, and two good sized spare bedrooms. Master bedroom features a walk-in closet and a 5 piece ensuite with his and her sinks and a Jacuzzi tub! Finished basement has a huge recreation area currently being used as a spectacular home theatre, nook/office area with built-in desk, storage area, and another full bathroom. Some of the other many features of this home are A/C, on demand hot water, granite counter tops throughout, upgraded flooring and fixtures, double attached garage with polyaspartic floor, and a pie shaped backyard! Last but not least is the location, in the highly desired Cumberland neighbourhood just down the street from the new school.
Read full post

I have listed a new property at 301 16221 95 ST in Edmonton.
This fantastic TOP FLOOR, TWO BEDROOM, TWO BATHROOM, is priced to sell and sure to impress. The good sized kitchen and living area have vaulted ceilings creating a very open and spacious feel. The large master bedroom has a walkthrough closet leading to a full ensuite. The second bedroom has a huge closet perfect for extra storage. A second full bathroom and a storage room with in-suite laundry finish off the unit. The owner is in the process of fully renovating the unit with new paint, flooring, and more... (Depending on how far he is along, the buyer may have selection over colours). Amazing location, short commute downtown, walking distance to shopping centres, and public transportation. With the new renovations, this will be like a brand new unit, but at a price, you can afford.
Read full post

I have listed a new property at #35B 13230 FORT RD RD in Edmonton.
This fantastic three bedroom, top floor apartment, is sure to impress. With how large this unit is it is perfect for a family, roommates, or a solid investment property. All three bedrooms are a good size, and the master bedroom comes with a walk-through closet and ensuite. The huge living area has enough space for whatever your needs. Kitchen has plenty of cupboard and counter space as well as enough room for a table. Some of the many other features of this unit are the large storage room, new carpets and paint, ceiling fan, and more! On top of all that this unit is located within walking distance to the LRT, schools, and shopping. Whatever your needs, this is one unit you will be sure to want to view in person.
Read full post

I have listed a new property at 103 274 MCCONACHIE DR in Edmonton.
Fantastic Two Bedroom + Den unit with Underground Parking and Air Conditioning. This well laid out unit is sure to impress. The modern kitchen comes with granite counter tops, dark cabinetry, and stainless steel appliances. Good sized living room with lots of natural lighting. Master bedroom has a walkthrough closet leading to a full ensuite. Another bedroom, a den, in-suite laundry, and another full bathroom finish off the unit. The good sized patio faces onto a green space and is perfect for relaxing or for someone with a pet. Last but not least is the location. Close the Anthony Henday, a Green Space, Playground, Public Transportation, Schools, and Shopping. This home is one you will certainly want to see!
Read full post

I have listed a new property at 50 10770 Winterburn RD in Edmonton.
Good sized, well-maintained unit, with a Carport at a fantastic price. This 1367 Sq.Ft. well laid out unit is sure to impress with all it has to offer. Open concept living area and kitchen with room for a family to eat. Two good sized bedrooms as well as a den. Newer shingles, windows, kitchen, bathroom, flooring, furnace, hot water tank, washer and dryer. Huge shed in the back has plenty of room for storage. Located in Westview Village a great little community with shopping, public transportation, and many green spaces. With all this home has to offer this is one home you will be sure to want to see.
Read full post

I have listed a new property at 450 MCCONACHIE WAY in Edmonton.
Good as new with plenty of upgrades and a DOUBLE ATTACHED GARAGE. This stunning 1407 sq ft, two storey townhome with A/C is sure to impress. Main floor has an open concept with hardwood flooring in the living area, and tile in the kitchen and a half bathroom. Stylish modern kitchen with granite countertops, dark cabinets, stainless steel appliances, and an eating bar. The good sized living area includes a fireplace with in-wall wiring for your T.V. above the mantle. On the second floor, you will find the huge master bedroom with a full ensuite, and a walk-in closet. This home also features upstairs laundry and another bonus sittings area. Finishing off the second floor are two more good sized bedrooms and a full bathroom. Basement has been completed as a fitness area, but could easily be converted to other needs. Double garage has built-in storage, and with two more parking spaces on the driveway, you will have parking for guests. Unit backs onto a green space, perfect for relaxing the Summer away.
Read full post

I have listed a new property at 35B 13230 FORT RD in Edmonton.
This fantastic three bedroom, top floor apartment, is sure to impress. With how large this unit is it is perfect for a family, roommates, or a solid investment property. All three bedrooms are a good size, and the master bedroom comes with a walk-through closet and ensuite. The huge living area has enough space for whatever your needs. Kitchen has plenty of cupboard and counter space as well as enough room for a table. Some of the many other features of this unit are the large storage room, new carpets and paint, ceiling fan, and more! On top of all that this unit is located within walking distance to the LRT, schools, and shopping. Whatever your needs, this is one unit you will be sure to want to view in person.
Read full post

I have listed a new property at 13027 158 AVE in Edmonton.
With over 3000 sq ft of tastefully finished living space, this bi-level is sure to impress. The open concept main floor of this property boasts the following features; master bedroom with full ensuite and huge walk-in closet, 2 more large bedrooms, kitchen with plenty of cupboard and counter space, eating nook as well as dining/flex area, mantled fireplace, and two living areas. Lower level has a 4th bedroom/office space, large windows, 3 piece bathroom, a 2nd fireplace, massive rec area large enough for a pool table, entertainment area, and kids play area that could easily be converted into a 5th bedroom. Backyard is fully landscaped with plenty of trees, shrubs, fire pit, and is perfect for entertaining. Some of the other many features of this home are A/C, aggregate driveway, vaulted ceilings, heated garage, lots of natural light, and more. Last is the fantastic location, in the highly desired neighbourhood of Oxford on a quiet street right in-between the lake and sports fields/ playground. Don’t delay
Read full post

I have listed a new property at 227 MCCONACHIE DR NW in Edmonton.
This former show home is located across the street from a green space and is sure to impress! With 1371 sq ft of well laid out living space, this home is a perfect starter or downsizing home. The main floor starts with a large entryway, spacious living room with gas fireplace, half bathroom, kitchen with an island, and an eating area easily able to accommodate a full table. Upstairs includes a master bedroom with a huge walk-in closet, two spare bedrooms, a full bathroom with both a stand-up shower and a corner soak-in tub. Basement is unfinished with an open layout ready for whatever your desires. The exterior of the home includes a huge front porch and rear deck, fully landscaped and fenced yard, and a double detached garage! The community of McConachie is an excellent location with all your shopping needs nearby, quick access to the Anthony Henday, Manning Drive, Yellowhead Trail, and a short commute to the LRT. With all this home has to offer, this is certainly one you will want to see in person!
Read full post

I have listed a new property at 13015 164 AVE in Edmonton.
BACKING ONTO A LAKE, FINISHED BASEMENT, DOUBLE TANDEM GARAGE!!! This stunning 1400 sq ft half duplex is a truly one of a kind of with incredible features you won't find anywhere else. The main floor has an open and spacious design. The kitchen comes with stainless steel appliances, large dining area, dark cabinets, and granite countertops. The living area has hardwood flooring and a stone mantled fireplace. On the second floor, you will find the master bedroom with a massive walk-in closet and full ensuite! Two more good sized bedrooms, another full bathroom, and an UPSTAIRS LAUNDRY room finish off the second floor. Fully finished basement includes a fourth bedroom, 3-piece bathroom and a cozy living area. The double tandem (length) garage has plenty of room for two vehicles and storage. Last but not least is the location, backing on to a beautiful lake, on a quiet street, only a short drive to shopping, schools, and the Anthony Henday! Homes like this are one of a kind, don't miss out!
Read full post

I have listed a new property at 16813 55 ST NW in Edmonton.
Good as New Home, with Luxury Upgrades! This 1472sq.ft. bareland townhouse in the community of McConachie is sure to impress. The main level offers an open floor plan with a large foyer with beautiful dark tiles. Through the stunning archway, you will find an amazing kitchen with all stainless steel appliances, granite countertops, dark cabinetry, upgraded kitchen faucet, and wood beamed ceiling! Large living area with dark hardwood floors and a corner fireplace. On the second floor you will find the master bedroom with a huge walk-in closet, and en-suite. The second bedroom also has a walk-in closet and is perfect for a roommate. Finishing off the top floor is a third bedroom, full bathroom, and a bonus living area! Some of the many other upgrades of this home are high-end blinds, new washer/dryer, A/C, and wrought iron railings. Single garage and a cozy back deck finish off the home. Last is the amazing location, a short drive to the Anthony Henday and walking distance to shopping, school, and the lake.
Read full post

I have listed a new property at 13027 158 AVE NW in Edmonton.
With over 3000 sq ft of tastefully finished living space, this bi-level is sure to impress. The open concept main floor of this property boasts the following features; master bedroom with full ensuite and huge walk-in closet, 2 more large bedrooms, kitchen with plenty of cupboard and counter space, eating nook as well as dining/flex area, mantled fireplace, and two living areas. Lower level has a 4th bedroom/office space, large windows, 3 piece bathroom, a 2nd fireplace, massive rec area large enough for a pool table, entertainment area, and kids play area that could easily be converted into a 5th bedroom. Backyard is fully landscaped with plenty of trees, shrubs, fire pit, and is perfect for entertaining. Some of the other many features of this home are A/C, aggregate driveway, vaulted ceilings, heated garage, lots of natural light, and more. Last is the fantastic location, in the highly desired neighbourhood of Oxford on a quiet street right in-between the lake and sports fields/ playground. Don’t delay
Read full post

I have listed a new property at 114 6315 135 AVE NW in Edmonton.
Great Layout, Convenient Location and Extremely Well Maintained, two bedroom apartment, located in the highly desired Holland Gardens complex. This 950 square foot unit has an open layout including a large kitchen, dining area, and spacious living room. Huge Master bedroom with walk through closet leading to a full ensuite. Large second bedroom and 3 piece bathroom, perfect for guests, roommates or a young family. Huge windows throughout the unit provide plenty of natural lighting. Unit has been exceptionally well maintained with plenty of modern upgrades. This is a ground floor unit with a patio leading to green space, perfect for anyone with a small pet. Some other features are ensuite laundry, heated underground parking, storage space, recreation facility, and more... Holland Gardens is situated in a quiet residential area close to shopping, LRT and schools. With all this home has to other, it is one you will undoubtedly want to see for yourself!
Read full post

I have listed a new property at 227 MCCONACHIE DR in Edmonton.
This former show home is located across the street from a green space and is sure to impress! With 1371 sq ft of well laid out living space, this home is a perfect starter or downsizing home. The main floor starts with a large entryway, spacious living room with gas fireplace, half bathroom, kitchen with an island, and an eating area easily able to accommodate a full table. Upstairs includes a master bedroom with a huge walk-in closet, two spare bedrooms, a full bathroom with both a stand-up shower and a corner soak-in tub. Basement is unfinished with an open layout ready for whatever your desires. The exterior of the home includes a huge front porch and rear deck, fully landscaped and fenced yard, and a double detached garage! The community of McConachie is an excellent location with all your shopping needs nearby, quick access to the Anthony Henday, Manning Drive, Yellowhead Trail, and a short commute to the LRT. With all this home has to offer, this is certainly one you will want to see in person!
Read full post

Buying a Home: What Expenses to Expect
Budgeting for a new home can be tricky. Not only are there mortgage installments and the down payment to consider, but there are also a host of other—sometimes unexpected—expenses to add to the equation. The last thing you want is to be caught financially unprepared, blindsided by taxes and hidden costs on closing day.
These expenses vary: some of them are one-time costs, while others will take the form of monthly or yearly installments. Some may not even apply to your particular case. But it’s best to educate yourself about all the possibilities so that you will be prepared for any situation. Use the following list to determine which costs will apply to your situation prior to structuring your budget:

1. Purchase offer deposit.
Typically when you purchase a property, you have to put down some sort of a deposit to hold the home. In most cases, this deposit counts towards your total downpayment that you will be making at the bank. The amount of the deposit varies greatly anywhere from $1000- 10,000, sometimes even higher. Most sellers insist on at least $5000, and once you get over the $250,000 price of the home, odds are the seller will want $10,000. The size of the deposit is negotiable, but the Seller is going to want something substantial to secure the deal.

2. Inspection by a certified building inspector.
Don’t cheap out on this one. Yes your friend’s uncle knows ‘everything’ there is to know about homes and will do it for $100, but this is likely the most substantial investment of your life, don't screw it up. It should cost around $500 depending on the property, and you should confirm the inspectors has insurance, experience, and a good reputation.

3. Appraisal fee:
Your lending institution may request an appraisal of the property. The cost of this appraisal is typically your responsibility. Talk to your mortgage broker about the cost if any on this one.

4. 5% GST:
This fee applies to newly built homes only or existing homes that have recently undergone extensive renovations. Confirm with your lawyer or an accountant if this will apply to your purchase.

5. Legal fees:
A lawyer should be involved in every real estate transaction to review all paperwork. Experience and rates offered by lawyers range quite a bit, so shop around before you hire. When you are calling around watch out for the words ‘plus disbursements.’ Some lawyers when asked their price will say something like “all in the cost should be around $1300,” others may say “cost is $800 plus disbursements.” What a lot of people don’t realize is the first lawyer included disbursements in his cost and the second lawyer may end up charging you a similar amount as disbursements can be hundreds of dollars. Like I said lawyer rates vary, ballpark you are looking $1000-1600 with disbursements, for a purchase.

6. Homeowner’s insurance:
Your home will serve as security against your loan for your financial institution. You will be required to buy insurance in an amount equal to or greater than the mortgage loan.

7. Property taxes:
This one catches a lot of people off guard. Depending on how the seller pays property taxes you may be required to pay taxes before you move in. If the seller is paying month to month, you can likely just jump onto that program. If the seller pays once a year, things are a little different. Property taxes are paid by June 30 for the current year. For example what this means is on June 30, 2017, a seller pays their property taxes for January- December 2017, the six months that have already passed and the next six months. So if you move into the home in October, the previous owner has already paid the taxes for Oct, Nov, and Dec, and you have to pay them back for those months. Your lawyer figures this all out as part of the final closing costs.

8. Moving expenses.
Hiring movers can cost a lot, hiring you friends can cost you pizza, beer and more dents in your walls, figure out what works best for you.

9. Service charges:
Any utilities you arrange for at your new home, such as cable or telephone, may come with an installation fee and are then followed by monthly fees.

10. Renovation of a new home:
In order to “make it their own,” many new homeowners like to paint or invest in other renovations before or upon moving into their new home. If this is your plan, budget accordingly.

13. Condo fees:
If you are moving to a new condominium, you will likely be charged a monthly condo fee which covers the costs of common area maintenance.

That should cover most things so be sure to have enough saved for the ones that apply to you. It might not even be bad to budget a little more, just to be safe. If you end up with extra money, well that is a situation a lot of people are happy to find themselves in!

Happy house hunting.

Read full post

 

 If you are considering looking for a new house, and are a current home-owner, then chances are you’re wondering what your strategy should be: do you wait to find the perfect new home before you put your current home on the market, or do you sell first and then look around? You have a few options. Use the following as a guide to explore what might be the best move for you. 


Sell First: 

There are several benefits to selling your current house before searching for your next home. First of all, once you have sold your house, you will know precisely how much money you have to work with. With a concrete price range, you’ll be able to narrow the pool of houses before you begin looking, and negotiate accordingly. This will allow you to immediately make firm offers on houses that you are serious about purchasing. You can be first in line with a 'non-subject to sale' offer you know you can afford, and this will grant even further negotiating leverage as Sellers tend to take offers that don't have a subject to sale clause more seriously. When they counter or turn down an offer that’s conditional on the sale of a home, they usually think the Buyer will come back with a better and more firm offer once they have sold their current home. However, if you don't have this condition, the Seller will usually give you more consideration, as they realize you’re probably looking at other properties and will move on if your offer is rejected. Likewise, if you have already sold you house, you probably do have a wider opportunity to look around, negotiate, and find the best deal and fit for you and your family. 

The flip side of this scenario, however, is that if you don’t find the right property before the closing date of the house you’ve already sold, you may have to look for temporary housing until you do find what you’re looking for. 

So, before you opt to sell first, you should determine whether you have alternate, temporary options, in case you have to move from your house before you’ve found a new one. How would you and your family deal with living in a transition home for an undetermined period of time? 

IIf temporary accommodations isn't an option; then what I typically suggest for people who chose this route is first to go out and look at some homes with your Realtor. Are there homes out there that you could see yourself happily living in? If so then selling first may be a great option. However if you can't really find anything or there is only the odd property that even interests you, then you may want to focus on buying first as you are looking for something more specific and it may take more time.


Buy First: 

Buying a new house without having sold your current home may occur if you are interested in a specific property and will only sell your current home if this property comes on the market. It may be a matter of timing—grabbing hold of the home before it’s too late. The same might be said of a property you haven’t had you eye on previously, but that catches your attention due to its uniqueness or unbelievable price. If buying first means you don’t miss out on the real estate opportunity of a lifetime, it may be the best move.

However, be careful. If you buy another property and aren’t able to sell your current home quickly enough, you could end up having to finance both homes and shoulder the extra debt until you sell. You can get a financial appraisal or market evaluation of a home prior to selling, but this doesn’t guarantee the price you’ll ultimately receive for the home after the negotiation process has run its course. Since your selling price will be an unknown, jumping into a purchase could be a gamble, particularly if your budget is tight. 

Make sure you’re familiar with all aspects of the financial reality this scenario would create before you purchase another home. You may be faced with owning two homes at once. What type of financial stress would this bring to your life and how would you deal with it? Consider the fact that if your current house doesn’t sell quickly enough, you may be forced to sell it off at a reduced price in order align the closing dates of your two properties. What effect would this have on your financial situation? 


Conditional Offer: 

An additional option involves making your offer to purchase conditional upon the sale of your current property within a specified period. Conditional offers usually include a clause that allows for the Sellers to keep their property on the market and remain open to other offers while you try to sell your home. If the Sellers receive another attractive offer before you’ve sold your home, they may accept and ask you to either remove your condition and firm up your offer, or to back down from the offer. A conditional offer forms a kind of middle ground, an area of compromise, for those who are afraid to sell or buy first—but doesn’t hold the advantages of the other two options. 

One of the drawbacks of the conditional offer is that Sellers tend to take them less seriously. They definitely give stronger consideration to firm offers. This leaves you with less negotiating power. In fact, some Sellers will simply turn down or counter a conditional offer. So, you may end up having to increase your offer in order to have your conditional offer accepted and keep your foot in the door of your desired house. 

Even if your conditional offer is accepted, there is no guarantee another Buyer won’t step in and overthrow your offer before you have sold your current home, which would put you back at the starting line. 

Often it's not an easy choice and whichever route you choose requires you put some serious thought into if it is right for you. Talk to your Realtor and Mortgage Broker and figure out what is best for you.
I hope this helps and as always I am open to discussing this with my clients anytime.

Read full post

 

 The Best Asking Price for your Home 

Setting a realistic price for your home that reflects current market values will help sell your home quickly and for top dollar. When you price your home properly, you increase the chances that the offer you receive will nearly match your asking price and that there will be competing offers—which may net you even more in the long run. 

Your property has the best chance of selling within its first few weeks on the market or following a price adjustment. One a home has been on the market for more than 3 weeks, the odds of it selling aren't very good, until of course, the price is adjusted. And, studies indicate that the longer a property stays on the market, the less it will ultimately sell for. A property priced 10 % more than its market value is significantly less likely to sell within this window than a property priced close to its actual market value. About half of homes on the market today are 5-10 % overpriced. This is why our average days on the market is normally around 50 days. Correctly priced and marketed homes sell in weeks, not months. Sellers will usually over-price their homes by this margin if, either, they firmly believe the home is worth more than what the market indicates, or if they want to leave room for negotiation. Either way, if you choose to over-price your home, you run the risk of increasing the amount of time your home spends on the market, and decreasing the amount of money you’ll ultimately receive. 

At the other end of the selling spectrum are houses that are priced below a fair market value. Under-pricing often occurs when the owner is interested in a quick sale. You can bargain on these homes attracting multiple offers and ultimately selling quickly at—or above—the asking price. 

The knowledge and skills of an experienced Realtor will be invaluable when determining an appropriate asking price. It is the job of your Realtor to know the current market and market trends inside and out, to be closely connected to the real estate market at large, and to be aware of other properties currently for sale in your particular area. Based on this range of connections and knowledge, your Realtor should counsel you on how to price your home properly in order to attract the highest price possible, in the shortest period of time. 

 

Before approaching this process, you should first do some homework yourself. You’ll need to know the workings of the current market before you even begin to think about setting an asking price. The market will always influence a property’s value, regardless of the state of a home, or its desirability. Here are the types of market conditions and how they may affect you: 


1. Seller’s Market: 

 A Seller’s market is considered a “hot” market. This type of market is created when demand is greater than supply—that is, when the number of Buyers exceeds the number of homes on the market. As a result, these homes usually sell very quickly, and there are often multiple offers. Many homes will sell above the asking price. 


2. Buyer’s Market:

 A Buyer’s market is a slower market. This type of market occurs when supply is greater than demand, the number of homes exceeding the number of Buyers. Properties are more likely to stay on the market for a longer period of time. Fewer offers will come in, and with less frequency. Prices may even decline during this period, which makes it a horrible time to overprice your property, as the longer, it sits on the market, the less you may eventually receive. Buyers will have more selection and flexibility in terms of negotiating toward a lower price. Even if your initial offered price is too low, Sellers will be more likely to come back with a counter-offer. 


3. Balanced Market: 

 In a balanced market, supply equals demand, the number of homes on the market roughly equal to the number of Buyers. When a market is balanced there aren’t any concrete rules guiding whether a Buyer should make an offer at the higher end of his/her range, or the lower end. Prices will be stable, and homes will sell within a reasonable period of time. Buyers will have a decent number of homes to choose from, so Sellers may encounter some competition for offers on their home, or none at all. 

 

Remember, a Realtor is trained to provide clients with this information about the market, helping you make the most informed decision possible. The right Realtor will guide you through the ups and downs of the market and keep you up-to-date with the types of changes you might expect. 

 

Evaluate your house in the other main areas that affect market value: 


1. Location: 

 The proximity of your home to amenities, such as schools, parks, public transportation, and stores will affect its status on the market. Also, the quality of neighbourhood planning, and plans for development and zoning will influence a home’s current market value, as well as the ways in which this value might change. 


2. Property: 

 The age, size, layout, style, and quality of construction of your house will all affect the property’s market value, as well as the size, shape, seclusion and landscaping of the yard. 


3. Condition of the Home: 

 This includes the general condition of your home’s main systems, such as the furnace, central air, electrical system, roof, windows, etc., as well as the appearance and condition of the fixtures, the floor plan of the house, and its first appearances.

 

 4. Comparable Properties: 

Ask your Realtor to prepare you a general market analysis of your neighbourhood, so you can determine a range of value for your property. A market analysis will provide you with a market overview and give you a glimpse at what other similar properties have been selling for in the area. 


5. Market Conditions/ Economy: 

The market value of your home is additionally affected by the number of homes currently on the market, the number of people looking to buy property, current mortgage rates, and the condition of the national and local economy.

It has been proven time and time again that the best way to obtain maximum value for your home is a combination of correct pricing and strategic marketing. This is where a Realtor who day in and day out is actively engaged in the housing market can help you significantly.

 

As always if you have any questions or comments, I would be happy to help. 

Read full post

 

 7 Mistakes to Avoid When Buying a Home 

You’ve been saving for awhile, weighing your options, looking around casually. Now you’ve finally decided to do it—you’re ready to buy a house. The process of buying a new home can be incredibly exciting, yet stressful, all at once. Where do you start? 

It is essential you do your homework before you begin. Learn from the experiences of others, do some research. Of course, with so many details involved, slip-ups are inevitable. But be careful: learning from your mistakes may prove costly. Use the following list of pitfalls as a guide to help you avoid the most common mistakes. 


1. Searching for houses without getting pre-approved by a lender: 

 Do not mistake pre-approval by a lender with pre-qualification. Pre-qualification, the first step toward being pre-approved, will point you in the right direction, giving you an idea of the price range of houses you can comfortably afford. Pre-approval, however, means you become a serious buyer, making negotiations with the seller much easier. 


2. Allowing “first impressions” to overly influence your decision: 

 The first impression of a home has been cited as the single most influential factor guiding many purchasers’ choice to buy. Make a conscious decision beforehand to examine a home as objectively as you can. Don’t let the current owners’ style or lifestyle sway your judgment. Beneath the bad décor or messy rooms, these homes may actually suit your needs and offer you a structurally sound base with which to work. Likewise, don’t jump at a home simply because the walls are painted your favourite colour! Make sure you thoroughly the investigate the structure beneath the paint before you come to any serious decisions.

 

3. Failing to have the home inspected before you buy: 

Buying a home is a major financial decision that is often made after having spent very little time on the property itself. A home inspection performed by a competent company will help you enter the negotiation process with eyes wide open, offering you added reassurance that the choice you’re making is a sound one, or alerting you to underlying problems that could cost you significant money in both the short and long-run. Your Realtor can suggest reputable home inspection companies for you to consider and will ensure the appropriate clause is entered into your contract. 


4. Not knowing and understanding your rights and obligations as listed in the Offer to Purchase: 

 Make it a priority to know your rights and obligations inside and out. A lack of understanding about your obligations may, at the very least, cause friction between yourself and the people with whom you are about to enter the contract. Wrong assumptions, poorly written/ incomprehensible/ missing clauses, or a lack of awareness of how the clauses apply to the purchase, could also contribute to increased costs. These problems may even lead to a void contract. So, take the time to go through the contract, making use of the resources and knowledge offered by your Realtor and lawyer. With their assistance, ensure you thoroughly understand every component of the contract, and are able to fulfil your contractual obligations. 


5. Making an offer based on the asking price, not the market value: 

 Ask your Realtor for a current Comparative Market Analysis. This will provide you with the information necessary to gauge the market value of a home, and will help you avoid over-paying. What have other similar homes sold for in the area and how long were they on the market? What is the difference between their asking and selling prices? Is the home you’re looking at under-priced, over-priced, or fair value? The seller should have received a Comparative Market Analysis before deciding upon an asking price, so make sure you have all the same information at your fingertips. 


6. Failing to familiarize yourself with the neighbourhood before buying: 

 Check out the neighbourhood you’re considering, and ask around. What amenities does the area have to offer? Are there schools, churches, parks, or grocery stores within reach? Consider visiting schools in the area if you have children. How will you be affected by a new commute to work? Are there infrastructure projects in development? All of these factors will influence the way you experience your new home, so ensure you’re well-acquainted with the surrounding area before purchasing. Rember LOCATION, LOCATION, LOCATION. There is a reason why it is considered so important.

 

7. Not recognizing different styles and strategies of negotiation: 

Many buyers think that the way to negotiate their way to a fair price is by offering low. However, in reality this strategy may actually result in the seller becoming more inflexible, polarizing negotiations. Employ the knowledge and skills of an experienced realtor. S/he will know what strategies of negotiation will prove most effective for your particular situation.

Read full post

I have listed a new property at 420 MEADOWVIEW TERR in Sherwood Park.
Located in Clarkdale Meadows on a quiet street, backing onto a treed walking trail, lies this perfect family home. This 1850 sq. ft. semi-bungalow has been extensively renovated and is sure to impress. Kitchen has been completely redone with new cabinetry, granite countertops and stainless steel appliances. Main floor living areas include a dining room, eating area, and living room with fireplace. Master bedroom has a walk in closet and full ensuite with jacuzzi tub. Second bedroom and full bathroom finish off the main floor. Above the garage is an optional large bedroom or bonus room. Basement is fully finished with an entertainment room and a second fireplace. Basement also has a large rec area with updated cork flooring and wet bar, 4th bedroom, full bathroom, and storage. Other recent upgrades include shingles, updated furnace, new washer/dryer, and A/C. Location can't be beat; a few houses down from the lake, only a short walk to playgrounds, tennis courts, skating, sports fields, and future school!
Read full post

I have listed a new property at 5719 124 AVE in Edmonton.
Spacious 1550 sq ft family bungalow in a cul-de-sac, backing onto green space! Entering the home, you will be greeted with a separate formal living/flex area with bay window. Next is the well laid out kitchen with plenty of cupboard/counter space and a large dining area. Family room has hardwood flooring, a fireplace with a beautiful mantle, and built in shelving. Large master bedroom comes with a 3-piece ensuite. Two more bedrooms and a main floor laundry room finish off the main level. Basement is partially finished with one bedroom laid out and the rest open and awaiting your desires. On top of all that, this home has had most of the major upgrades completed over the last few years including; shingles, furnace, air conditioning, most windows, and doors! Large garage will easily fit two vehicles. The yard is beautifully landscaped with trees, shrubs, deck, and storage shed. Most important is the location! This home is located in a cul-de-sac in a highly desired neighbourhood backing onto a green space!
Read full post
Copyright 2018 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.