Nooran Ostadeian

Phone: 1-780-953-0723 |

Edmonton Market Update


You’ve heard of “buyer’s regret”. It refers to purchasing a pricey item, like a fancy sweater or a new car, and then regretting it the next day because you think you paid too much.


Fear of buyer’s regret can actually dissuade people from making a purchase, even when the price is right and they really want the product!


In the real estate world, buyers can sometimes hesitate to make an offer on a home for the same reason. They worry about paying too much, so they take a...

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Houses For Sale In Edmonton
Edmonton Market Update


Sometimes the issue isn't winning the 'foreclosure competition', it's closing once the Court approves your buyer's offer.
 
In a recent foreclosure, my client fought hard, outbid three other buyers, and won the bid. The Court approved my client's unconditional offer on February 2 for a March 8 closing, leaving about 5 weeks to close. Buyers were pre-approved, the lender was chosen, we just wanted to close this deal! 
 
What Happened
 
The Court's February 2 approval turned...
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Houses For Sale In Edmonton
Edmonton Market Update

You’ve heard of “buyer’s regret”. It refers to purchasing a pricey item, like a fancy sweater or a new car, and then regretting it the next day because you think you paid too much.


Fear of buyer’s regret can actually dissuade people from making a purchase, even when the price is right and they really want the product!

In the real estate world, buyers can sometimes hesitate to make an offer on a home for the same reason. They worry about paying too much, so they take a...

Read full post
Houses For Sale In Edmonton
Edmonton Market Update


Want to make your bathroom look fantastic without having to do a major renovation? There are a lot of projects you can do yourself. In fact, there are some improvements you can get done in less than a day that will transform the look and feel of your bathroom. Check out these ideas:


    • Update the sink. If you have some basic plumbing knowledge, this is a project you should be able to do on your own. A new sink can make the entire vanity look like new.
    • Buy new decor. New shower curtains, towels, window...
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Houses For Sale In Edmonton
Edmonton Market Update


This year is off to a busy start as Covid 19 continues to have its impact on Real Estate! With low interest rates, we have seen a surge in new home buyers and homeowners looking to upsize.


As interest rates are curving upward, many are eager to get into their new homes as soon as possible. Here are some notable market updates that I wanted to share with you:

  • TD Bank was the first of major banks to hike its 5-year fixed mortgage rates
  • Edmonton’s vacancy rate reached 7.2%, the highest in Canada among cities surveyed by Altus Group in a recent study
  • February year to date sales reached 1905, an increase of 45% from 2020
  • 1904 new listings came on the market in February, compared to 1718 in January, up 12.3%
  • Average Residential selling prices increased 2.7% since January and 4.8% since this time last year

If you know of someone who is looking to move, or considering a move yourself, I would be happy to discuss the market conditions and best options! On the other hand, perhaps you have a mortgage renewal coming up in the next few months? If so, you may wish to call your bank today and discuss your options for locking in a rate. I know some great mortgage brokers that I can recommend if you would like to shop around for the best rate!

A big benefit of having a professional you can trust is knowing that you never have to go it alone. Help is only a phone call away! I hope you feel comfortable reaching out to me when you have a question or want advice that’s real estate-related. As a professional, I have the data and insights needed to provide you with the information you want, particularly as it pertains to your property and the local market. Even if you just need to tap into my network for a contractor recommendation, I’m happy to help.
 
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Houses For Sale In Edmonton
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