Selena May 2018 Newsletter

Outlet Shopping Mall

The attraction of buying wholesale rather than retail is appealing for most people and that could explain why people flocked to the opening day of the new outlet mall by Edmonton International Airport. I like a bargain just as much as the next person but I wouldn’t consider to line up over night just so I could get a few extra dollars off a purchase by being first through the door. I am sure your time is more valuable too. And then you need to consider how far these people come from. Many spent close to two hours driving (there & back) and that is not taking into account the extra time for the traffic jam and trying to find a park. I did go to the mall but not on opening day frenzy. I don’t like to be rushed when buying and I do like the new mall. It’s a great experience, lots of new jobs, great for the economy and a few stores new to Edmonton. I also like that it is completely indoors (yes they planned for winter in Edmonton) and not just for locals but they have great parcel delivery service to the airport for people flying into Edmonton.

Selling In A Buyer Market

Mortgage rate increases and rule changes have impacted housing sales here in Edmonton. While these changes were brought in to try to control house prices mainly in Toronto and Vancouver it seems it is slowing down prices in other markets more. Edmonton is a prime example. There are more homes listed for sale than ever before. If you are in the market to buy, right now is a good time because not only do you have more to choose from, you can also get huge savings by negotiating well. On the other side, if you are looking to sell this spring, you will need to make your home stand out. We spent several weeks helping a few clients get ready to sell their homes and that preparation paid off as they all received multiple offers for over asking price in the first day of listing. If you are looking to sell, a one on one consultation can pay dividends.

Construction In Full Swing

Edmontonians like to joke we only have two seasons. Winter and Construction. Every year we see this. As soon as the snow has disappeared, construction projects abound, in particular, large scale projects. The New Valley line LRT is progressing nicely and has created an increase in sales in the south east parts of Edmonton, Bonnie Doon in particular, caused by the new station and upgrades to the mall.
There is a strong focus to the south and the recent Annexation will play an important role in keeping that going as the City expands all the way to the airport and the new outlet mall.

Latest Sales Data

Every Month the Edmonton Real Estate Board gathers the latest sales figures sorted by property type, price ranges, listed and Sold. Click the above link to download a copy from our website.

Housing Trends

Its one thing to download the latest sales figures from Edmonton Real Estate Board and its another to actually understand what all the numbers mean. Click the above link link for a summary from the President of the Edmonton Realtors® Association, or reply to this email and we will be happy to discuss it with you or provide sales figures for different months.

Engaging 360° Photos

One of the things we have been doing to help homes sell quicker is to make immersive 360° virtual tours. After trying out a few different cameras, we selected one of the more expensive ones because the image quality is so much better. The next step was figuring out how to host the images so anyone can view them and without having to download special software. They have proven to be quite engaging and it is interesting to see how people go through each room of the house and go back to view several times, spending a lot of time pre-viewing a home and it has lead to an increase in showing requests and people making offers. They present best with iPhones and iPads as you can just move your phone around to view the whole house seeing every detail.

Disclaimer: Not intended to solicit buyers or properties under contract.
This article contains the opinions of Andrew Barrett and Selena Cheung. Licensed Realtors® with COLDWELL BANKER Venture Realty.
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