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Nooran Ostadeian Edmonton Real Estate Blog

Content Source: AVENUE MAGAZINE 

Top 10 Neighbourhoods

Edmonton's Top 10 neighbourhoods, as voted by you

Old Strathcona is crowned Edmonton's top neighbourhood for the third year in a row.
 
For the third consecutive year, Avenue reached out to its readers, asking them what they thought are the city’s best neighbourhoods. For the third year in a row, more readers voted for Strathcona than any other. 
We’re at the point where we can call Strathcona a dynasty — at least when it comes to Edmonton neighbourhoods.
But, while Strathcona made it a top-neighbourhood three-peat, there was some moving and shaking in our Top 10. Two neighbourhoods made their debuts in our Top five — Glenora and Downtown. Ironically, the two are very different from each other. Glenora is all about sprawling lots, large homes and low density; downtown life is about living in small spaces and embracing the urban lifestyle.
 
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Another year passes and it’s the time when Realty Executives International announces all Winners.

I received a “Diamond Award” for executives as individuals for 2015. I was so blessed to be among the top 1% of Realty Executive Polaris and Top 10% Realtors in Edmonton. This would not be possible without your support, trust and encouragement. I moved to Edmonton 13 years ago and a have been a Realtor for the last 10 years.

This country gave me numerous opportunities and I was able to make the best out of it, having one thing in my head “be honest to yourself and to others; treat them the way you and your family expect to be treated by others”.

With more than 500 offices and 8,000 real estate professionals, the 2015 Executive Awards represent the best of the best across the Realty Executives brand worldwide. These awards represent the typical sales and production achievements of realtors as they’ve built their businesses and created superior client experiences through excellence in real estate throughout 2015 – which also marked Realty Executives International’s 50th anniversary.

Realty Executives International wouldn’t be where it is today without individual support and dedication to excellence. This truly is “where the experts are.”




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With more than 500 offices and 8,000 real estate professionals, the 2015 Executive Awards represent the best of the best across the Realty Executives brand worldwide. These awards represent the typical sales and production achievements of realtors as they’ve built their businesses and created superior client experiences through excellence in real estate throughout 2015 – which also marked Realty Executives International’s 50th anniversary.

 

Realty Executives professionals featured prominently at The REALTORS® Association of Edmonton’s (RAE) annual awards ceremony held on Friday, March 4, 2016. Taking home three of the eight awards presented at the gala, Realty Executives veteran Charlie Pondewon the REALTOR® of the Year Award, Broker/Owner Bill Tarrabain was awarded a Life Membership, and Executive Brittany Collardwas presented with the Rookie of the Year Award.

 

Ponde of Realty Executives North Star, has been a REALTOR® since 1992 and with Realty Executives since 1997. He was named the REALTOR® of the Year for his service to both the real estate profession and the community.

As an active member of the community, Ponde has been elected to and served on multiple industry bodies, including the Alberta Real Estate Foundation, AREX Claims Committee, the Arbitration and Professional Standards Committee, the Edmonton Realtors’ Charitable Foundation, the Government and Political Action Committee, and the Technology Committee. He also served as the President of the RAE in 2009 and is now a Life Member of the association.

 

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A brief building history lesson of the historic post office in Greenwich, and the story of how it came to be home to a high end furniture companies store. It's so facinating how imagination, and well thought out planning can completely change a spaces use, and still allow for a buildings integrity to be intact. 

 

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Real Estate Board of Edmonton                                                                                          Edmonton, April 4, 2016


Edmonton, April 4, 2016: 1,364 properties were sold in the Edmonton Census Metropolitan Area (CMA) in March, up nearly 63% from the 837 homes sold last month, but down 6.13% from the 1,453 relative to March 2015. There were 863 single family detached homes sold in the Edmonton CMA, a 67% percent increase month-over-month, and down only 1.5% from the same time last year. March saw the sale of 335 condos and 144 duplex/rowhouses, up 44% and 82% from February, respectively. 

“Sales, relative to last month, were consistent with the seasonal trends that we expect,” REALTORS® Association of Edmonton Chair Steve Sedgwick explains. “Inventory is growing, with more than 3,000 properties coming onto the market last month. Despite the inventory growth, prices are holding steady, with median prices on par with last year, and average prices up slightly due to the sale of high-end luxury homes in March.”   

The average all-residential price was $379,524 for March, which is close to 3% higher than February, and up nearly 2% compared to $372,289 during the same in last year. Single family house prices averaged $439,815, up slightly over last year (up 0.56%) and up by 4.73% month-over-month. Condo properties sold for an average of $251,093, up from both last month and last year, at an increase of 1.62% and 0.55%, respectively. Median prices remained virtually the same as last year, as the all-residential median price took at slight dip of less than 1% to end the month at $357,750, down from $360,000 from this time last year, but up nearly 3% from February. The median price for single family homes was up over 1% from last month ending March at $405,000, but down just over one percent from $410,000 in March of 2015.

“When looking at housing prices, we have to take into account a number of factors,” Sedgwick said. “Last month, we saw sales of two homes in Edmonton that were priced at more than $3 million dollars. This is the first time that properties at that price point have sold in 2016, and those two sales affected the average price by several thousands of dollars. So it is important that we also look at the median prices as well, to gain a clear picture of the market.”

March’s average days-on-market dropped in almost all housing types, as it took an average of 53 days to sell a home compared to 57 last month. On average, single family homes sold 4 days quicker than last month, selling in 49 days. Duplex/rowhouses were on the market for an average of 62 days compared to 71 in February. And, on average, condos sold in 58 days, up 1 day from the same time last month.

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1 Census Metropolitan Area (Edmonton and surrounding municipalities)
2 Single Family Dwelling
3 The total value of sales in a category divided by the number of properties sold 
4 The middle figure in a list of all sales prices
5 Residential includes SFD, condos and duplex/row houses. 
6 Includes residential, rural and commercial sales

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The tiny house movement (also known as the "small house movement") is a description for the architectural and social movementthat advocates living simply in small homes. There is currently no set definition of what constitutes as a tiny house, however a residential structure under 500 square feet (46 m2) is generally accepted to be a tiny home.


People are joining this movement for many reasons, but the most popular reasons include environmental concerns, financial concerns, and the desire for more time and freedom.


Also watch this video: Tiny Apartment in Paris 



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Tiny housing a growing trend in Canadian real estate

 

By Alexandra Posadzki, The Canadian Press Posted: Dec 24, 2015 2:27 PM ET Last Updated: Dec 24, 2015 3:58 PM ET

 

 

Nine years ago, Thelma Fayle swapped her 4,000 square-foot home in a rural area of Victoria for a house measuring only nine feet wide on the inside.

Fayle had contracted a respiratory disease and was finding it exhausting to take care of her property, which contained a swimming pool and dozens of towering trees.

"I decided I didn't really want to spend the last third of my life rotely maintaining a huge house," says Fayle.

It takes Fayle a mere two hours to clean her "narrow home" from top to bottom, freeing her up for other activities such as reading, writing and volunteering.

Saves time, less maintenance

The desire to save time is one of several factors cited by the growing number of Canadians who are turning to alternative styles of housing, ranging from narrow houses to tiny ones to those sandwiched into laneways between other homes.

Other factors include environmental considerations — smaller homes require less power to heat — and affordability concerns, as home prices in certain Canadian cities continue to soar out of reach for many.

In 2006, when a single-family home for half a million dollars was hard to come by in Victoria, Fayle snatched up her house for $275,000 — a paltry sum for a 1,000 square-foot space located less than three kilometres from the downtown of one the country's most desirable cities.

Toronto developer Adam Ochshorn says his company, Curated Properties, has found a niche in building homes for families who have been priced out of the market for detached houses but don't want to migrate out to the suburbs or live in a glass tower.

"We have people coming in and telling us that they have been looking to buy a home downtown for maybe a year or even two, but they keep losing what they want to buy in a bidding war," says Ochshorn.

Cheaper, too

Curated Properties has several projects in the works that preserve elements of the traditional detached house format — multi-floor living with an outdoor terrace — but in unconventional spaces and at a lower price point.

One of them, titled Dovercourt 455, consists of a dozen townhomes perched atop a two-storey office complex, each outfitted with two floors of living space and a rooftop terrace. Another is a conversion of an old yarn factory from the late 1800s that's situated in a laneway between two rows of houses.

Building homes in laneways can be challenging in many Canadian municipalities, due to various zoning restrictions.

Ochshorn says Toronto doesn't allow developers to dig up laneways, which are owned by the city, in order to bring water and sewage pipes to the project.

"The only reason that we were really allowed to develop this project into residential housing is because the property we bought included a house that connected us to the street and gave us a street address," he said.

That allows the company to dig up the portion that sits on private land in order to connect to the grid.

Experts say some of those restrictive policies are likely to loosen as cities like Toronto and Vancouver — facing a space and affordability crunch — look at ways of adding more unique types of housing.

"There are so many of these lanes in great neighbourhoods that are being underutilized," says Ochshorn.

 

 

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Great performances at 2016 Iranian New Year Celebration party by ISAUA ( Iranian Students’ Association of University of Alberta) on 02 April 2016 at Old Timer Cabin, Edmonton. 

 

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Federal Budget Highlights

 

TMG The Mortgage Group Canada Inc.                                        Thursday, March 24, 2016#




Minister of Finance Bill Morneau has tabled his first budget, which the government hopes will kick start the economy. It does, however, come with a price tag. The deficit is expected to be $29.4 billion this year and $29 billion the next before falling. The debt is expected to grow by $113 billion by 2020-21, but debt-to-GDP ratio is expected to stay flat at around 32%. The budget has a lot of goodies for diverse stakeholders. Here are some highlights:

  • New tax free Canada Child Benefit that targets low and middle-income families for the highest benefits. The new monthly tax-free payments starts July 1: Up to $6,400 a year per child under 6, and $5,400 those aged 6 to 18. But this amount begins to claw back for households with an income over $30,000 and is eliminated entirely for incomes over $190,000. 

 

  • Tax credits: Children's arts and fitness tax credits phased out by end of 2017.

 

  • Infrastructure: $120 billion over 10 years, focusing first on public transit, water, waste management and housing infrastructure, which should increase employment.

 

  • $20 billion to green infrastructure. Part of that money will no doubt go to transit, but this could also be a boost for companies in B.C. that are focused on green technology.

 

  • Seniors: Guaranteed Income Supplement increased by up to $947 annually. The government will restore the eligibility age of Old Age Security to age 65.

 

  • Veterans: $5.6 billion over six years to increase disability awards for injured veterans and to enhance other financial benefits. 

 

  • Entrance to Canada's National Parks will be free.

 

  • Tax rate for small business left unchanged at 10.5%

The impact on the housing market is indirect. Increased employment through infrastructure projects and the new Child Tax Benefit will put more cash into the hands of consumers. The high prices in Vancouver were not addressed, although the budget did include funding to Statistics Canada to study the impact of foreign investment.

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Year-over-year prices steady, up over 1%

Edmonton, November 3, 2015: The outlook for Edmonton’s housing market remains stable. The average residential price in October for the Edmonton Census Metropolitan Area (CMA) is up 1.72% year-over-year (YoY) despite reported sales being down 15%. Single family sales are down 14%, with prices up 3% YoY. Condo sales are down 17% YoY and prices are down almost 6% from October of 2014.  

“The average recorded selling price of single family homes in October was bolstered by the sale of two properties well over the $3.5 million mark. Even without these sales we are continuing to see strong prices in this category,” explains Geneva Tetreault, Chair of the REALTORS® Association of Edmonton. “We will likely continue to see average days on market grow as the inventory remains higher than last year and single family sales are down almost 15%.”

Average days on market for all residential properties was 57 this month, up almost 8% over last month and up from last year when average days on market was 51. Single family average days on market was up to 56. Condominiums were averaging 61 days on market compared to 57 in September, and duplex/rowhouses took an average of 49 days to sell in October, down from 51 days the previous month.   

A single family home in the Edmonton Census Metropolitan Area (CMA) sold for an average of $438,935; up 1.57% from September. The average price for condominiums ($244,225) fell 3.45% over last month. Duplex/rowhouses also dropped to an average of $359,130 – down 1.39% from the previous month but up 1.76% from 2014. All residential properties average price sat at $371,756, up 0.78% from September. 

“It is common to see a dip in both sales and prices at this time of year, but condos have definitely been the most affected. The influx of inventory, both new and resale, has given buyers a bigger selection and more time to make their choice.” Tetreault continues, “There are buyers out there looking to take advantage of low interest rates and the great selection of inventory of all types of property. Sellers need to be competitive in a market with healthy inventory.”

All residential active inventory remains robust with 6,641 residential properties available in the Edmonton CMA at the end of October, down from September by 6.57% but still up over last October by 48.47%.

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MLS® System Activity for October 2015

 

M/M % Change

Y/Y % Change

SFD2 average3 selling price – month

$438,935

1.57%

3.02%

SFD median4 selling price – month

$397,500

-0.63%

-0.59%

Condominium average selling price

$244,225

-3.45%

-5.90%

Condominium median selling price

$225,000

-1.75%

-6.25%

All-residential5 average selling price

$371,756

0.78%

1.72%

All-residential median selling price

$346,000

-1.91%

-1.14%

# residential listings this month

2,272

-18.19%

28.00%

# residential sales this month 

1,199

-17.99%

-15.08%

# residential inventory at month end

6,641

-6.57%

48.47%

# Total6 MLS® System sales this month

1,573

-17.12%

-23.86%

$ Value Total residential sales this month

$497 million

-17.73%

-20.63%

$ Value of total MLS® System sales – month

$586 million

-17.26%

-21.63%

$ Value of total MLS® System sales - YTD

$7.5 billion

9.00%

-10.48%

1 Census Metropolitan Area (Edmonton and surrounding municipalities)
2 Single Family Dwelling
3 The total value of sales in a category divided by the number of properties sold 
4 The middle figure in a list of all sales prices
5 Residential includes SFD, condos and duplex/row houses. 
6 Includes residential, rural and commercial sales

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Edmonton housing sales down but sale price up  

BY EDMONTON SUN

FIRST POSTED: MONDAY, MAY 04, 2015 03:11 PM MDT

Edmonton real estate listings and sales are up
 
Realtor signs are displayed outside Lakeview Gardens, 9535 - 176 Ave., in Edmonton Alta., on Wednesday April 2, 2014. The Realtors Association of Edmonton spoke to the media about the hot Edmonton real estate market Wednesday. David Bloom/Edmonton Sun
 

While the number of housing sales in Edmonton in April dropped by 13% compared to last year, the average sale price climbed 3%, show the latest numbers.

Single family homes sold for $438,641, on average, according to the Canadian Home and Mortgage Corporation (CMHC).

Geneva Tetreault, president of the Realtors Association of Edmonton, said the price rise is due, at least in part, to a record setting tight market last year with low inventory.

"It was a really tight market," Tetreault said. "What's happening now is as the inventory is increasing, it is giving some of those people that couldn't get into the market last year an opportunity to get in."

The CMHC House Price Analysis and Assessment Framework looked at large housing centres across Canada, evaluating them for risk factors like acceleration in house prices, overvaluation and overbuilding. The market analysis put Edmonton at a low risk for all factors.

Real estate markets in cities including Quebec, Winnipeg and Regina were flagged at a high risk of overvaluation, while Toronto, Montreal and Calgary, presented a moderate risk.

But in Edmonton the number of sales were down in all residential categories except for duplexes and rowhomes.

Condominiums took the biggest hit with 20% less sold this April when compared to last April.

While more inventory is making it easier this year for first-time home buyers to buy in, Tetreault warned their could be a slight decrease in sales prices due to basic supply and demand economics.

"If inventory keeps increasing, I think it's reasonable to expect that we would see a little bit of a decrease in price at some point in the year, but so far the spring market has been maintaining," Tetreault said.

The total residential listings in Edmonton jumped to 3,298 in April, up from 2,977 in April of last year, the highest number of listings for this period over the last five years.

Tetreault added the CMHC numbers confirm that Edmonton's housing market continues to be stable.

"We've always felt and maintained for quite a long time that we are not on the verge of a bubble popping in the housing market, and I think the report is just reinforcing what we've been saying all along," said Tetreault.

@ClaireTheobald

claire.theobald@sunmedia.ca

Realtors Association of Edmonton housing stats:

• Reported sales are down in all categories except duplex/rowhouse, which are up over 24%.

• Single family sales were 1,001, down 13% over last April.

• Condos took the biggest hit, down 20% over last year with 432 sold.

• Despite a decline in all residential sales, the average sale price was $337,270, up 3% from April last year.

• Single family dwellings sold for an average of $438,641 (up 2% from last April), condos for $252,935 (up 0.2% y/y) and duplex/rowhouses were $356,022 (up 7.23% y/y).

• April residential new listings were up 11% from last year at 3,298.

• Average days on market were 44 compared to just 42 in April 2014.

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Prices Remain Virtually Unaffected by Dip in Sales

Edmonton, October 2, 2015: The average residential price in September for the Edmonton Census Metropolitan Area (CMA) is down less than 1% year-over-year (YoY) despite reported sales being down 6.76%. Single family sales (down 9.72% YoY) and condo sales (down 9.07%) continue to be down over levels reported in September of 2014, while duplex/rowhouses (up 17.21% YoY) buck the trend.

“The strength of prices in the Edmonton market is an excellent indication that we are maintaining stability,” explains Geneva Tetreault, Chair of the REALTORS® Association of Edmonton. “Buyers continue to see the benefits of a healthy inventory but we haven’t seen many sellers dropping prices significantly in order to compete. Last year’s market and its low inventory made buyers feel pressure to jump into an offer if they found something they like. We are seeing buyers take a little more time in the decision making process this year.”

A single family home in the Edmonton Census Metropolitan Area (CMA) sold for an average of $432,150; down 1.75% from August and down 0.98% YoY. The average price for condominiums ($252,953) fell 0.68% over last month and 1.05% over last year. Duplex/rowhouses did well at an average of $364,203 – up 2.76% from the previous month and up 4.28% from 2014. All residential properties sat at $368,874; down 0.91% from August and down 0.75% over September 2014. 

“We will likely see prices continue to dip as we move into the colder months. Real Estate in Edmonton has a very seasonal trend and colder months always mean fewer sales. We may see buyers take advantage of this trend and benefit from low interest rates while they still can,” Tetreault says.

All residential active inventory remains healthy with 7,108 properties available at the end of September, down from August by 1.65% but still up over last September by 47.71%.

Average days on market for all residential properties was down this month by 1 over last month sitting at 53. This is up by 8.51% from last year. Single family average days on market was down to 51. Condominiums were averaging 57 days compared to 56 in August, and duplex/rowhouses took an average of 51 days to sell in September. 

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1 Census Metropolitan Area (Edmonton and surrounding municipalities)
2 Single Family Dwelling
3 The total value of sales in a category divided by the number of properties sold 
4 The middle figure in a list of all sales prices
5 Residential includes SFD, condos and duplex/row houses. 
6 Includes residential, rural and commercial sales

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1411 Chahley Place Northwest



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salesdip

 

In September, the average residential price is down less than 1% year-over-year according to the Edmonton Census Metropolitan Area (CMA) despite reported sales being down 6.76%.  Compared to September 2014, single family sales are down 9.72% and condo sales are down 9.07%, while duplex/rowhouses are up 17.21%.

According to the chair of the REALTORS® Association of Edmonton, “The strength of prices in the Edmonton market is an excellent indication that we are maintaining stability.  Buyers continue to see the benefits of a health inventory but we haven’t seen many sellers dropping prices significantly in order to compete.  Last year’s market and its low inventory made buyers feel pressure to jump into an offer if they found something they like.  We are seeing buyers take a little more time in the decision making process this year.”

 

In the Edmonton Census Metropolitan Area (CMA), a single family home sold for an average of $432,150 but it is down 1.75% from August and down 0.98% year-over-year.  Condominiums sold for an average price of $252,953, which fell 0.68% over last month and 1.05% over last year.  With an average price of $364,203, duplex/rowhouses did well.  They were up from 2.76% from the previous month and up 4.28% from 2014.  All residential properties sat at $368,874; which is down 0.91% from August and down 0.75% over September 2014.

 

The chair also mentioned that we will likely see prices continue to dip as we move into the winter months.  Real Estate in Edmonton has seasonal trends and the winter months will always mean fewer sales.  We may see buyers take advantage of this trend and benefit from low interest rates while they still can. 

 

The active inventory for residential properties remain healthy at 7,108 units at the end of September, down from 1.65% in August but still up from September 2014 by 47.71%.

 

Residential properties average days on market was down this month by 1 over last month sitting at 53.  This is up by 8.51% from last year.  Single family properties average days on market is down to 51.  Condominiums were averaging 57 days compared to 56 in August, and duplex/rowhouses average of 51 days to sell in September.

 

 

September

 

M/M % Change

Y/Y % Change

SFD2 average3 selling price – month

$432,150

-1.75%

-0.98%

SFD median4 selling price – month

$400,000

-0.68%

-1.05%

Condominium average selling price

$252,953

-0.67%

-0.58%

Condominium median selling price

$229,000

-2.84%

-0.43%

All-residential5 average selling price

$368,874

-0.91%

-0.75%

All-residential median selling price

$352,750

-0.63%

1.07%

# residential listings this month

2,777

-5.09%

36.87%

# residential sales this month

1,462

-0.20%

-6.76%

# residential inventory at month end

7,108

-1.65%

47.71%

# Total6 MLS® System sales this month

1,898

-4.53%

-10.56%

$ Value Total residential sales this month

$605 million

-2.48%

-7.28%

# Value of total MLS® System sales – month

$708 million

-4.24%

-10.08%

# Value of total MLS ® System sales – YTD

$6.09 billion

12.27%

-9.32%

 

1 Census Metropolitan Area (Edmonton and surrounding municipalities)

2 Single Family Dwelling

3 The total value of sales in a category divided by the number of properties sold

4 The middle figure in a list of all sales prices

5 Residential includes SFD, condos and duplex/row houses

6 Includes residential, rural and commercial sales

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Nooran Ostadeian Edmonton Real Estate Blog

Nooran Ostadeian, Realty Executives Polaris. Edmonton Real Estate Member. 

 

Upper Windermere is the most luxurious community in southwest Edmonton, ideally situated to enjoy all the triumphs of upscale living. The community offers the best of urban amenities and outdoor recreation at its foundation. It’s the only community in southwest Edmonton that boasts its own exclusive Private Leisure Centre. This master-planned, exclusive community is the perfect place for you and your family to call home.


Windermere is an area that has come full circle.  Originally, the area was wide open farmland with the occasional older estate property along the North Saskatchewan River.  Now, the farmland has been replaced by an area that is home to many modern exquisite estate homes, plus upscale townhomes and condos.  The neighbourhood is located in southwest Edmonton and is bordered by the North Saskatchewan River and Anthony Henday Freeway.  The area has become very popular since it's inception.  The area is also home to the Windermere Golf and Country Club. 


Houses for Sale in Windermere

Edmonton Houses For Sale


All about Upper Windermere Community:  http://www.upperwindermere.com/community 


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