This year, on March 23, 2024, the Iranian community in Edmonton will come together to celebrate Nowruz and the beginning of spring at the Wyndham Hotel. Nowruz provides an opportunity for our compatriots of various beliefs to unite and joyfully welcome the first day of Spring.

As someone who has served in the Iranian Community of Edmonton (IHSE) for four years and has been a sponsor of the Iranian Students' Association of the University of Alberta (ISAUA) for years, I am honored to organize this year's Nowruz celebration.

This event wouldn't have been possible without the generous support of friends and sponsors. We are deeply grateful to these sponsors for their generous support. We hope that our compatriots also support the businesses of these friends.

Our Gold Sponsor

Melad Machaalani CFP, RRC

Senior Financial Consultant

For more details, please check his website

Our Silver Sponsors

Sherry (Chenoor) Shajiei

WFG - World Financial Group

For more details, please check her website

Alan Ahmadian, Realtor, 

RE/MAX Masters Realty Vancouver, BC

For more details, please check his website

Our Bronze Sponsors

Dr. Shayan Hamzehi

Rabbit Hill Dental Choice

For more details, please check his website

Christopher Taskey 

Top-rated estate, probate, and real estate lawyer in Edmonton

For more details, please check his website

Hilda Tayyari, Mortgage Associate

Dominion Lending Centres

For more details, please check her website

Imran Ahmed MBA

Team lead, Mortgage Specialist at Bank of Montreal

Bank of Montreal – BMO

For more details, please check his website

Nooran Ostadeian | RE/MAX Elite – Your trusted expert in Edmonton real estate
📞 Call/Text: 780-953-0723
🌐 www.realtyedmonton.ca | www.nooranrealty.com
Re/Max Elite Windermere
5083 Windermere Boulevard South West #302, Edmonton, AB T6W 0J5

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Understanding Title Insurance and RPRs: What You Need to Know

When buying or selling a home in Edmonton, title insurance is becoming increasingly common. Whether required by lenders or offered by sellers in place of a Real Property Report (RPR) and compliance, understanding its role is essential in any real estate transaction. So, what is title insurance, and what does it do for Edmonton homeowners and buyers?

What is Title Insurance?

Title insurance is a one-time policy purchased by the buyer, typically costing around $250. This policy protects homeowners against potential title-related risks for as long as they own the property. While it’s a critical tool in real estate transactions, it’s important to understand that title insurance supplements—but does not replace—an RPR and compliance.

Key Benefits of Title Insurance

1. Protection Against Unknown Title Registrations
   Title insurance safeguards homeowners against unknown or unresolved claims on the property’s title, such as liens or judgments, that might not be identified during the purchasing process.

2. Fraud Protection
   Title insurance protects property owners from fraudulent claims or transactions involving their home’s title, giving peace of mind in an era of increasing real estate fraud.

3. Coverage During Land Title Delays
   With current Land Titles registration delays ranging from 8–12 weeks, title insurance provides interim coverage for any registrations or claims that might surface during this period.

4. Permit and Encroachment Coverage
   Issues with building permits or encroachments on neighboring properties can cause significant headaches. Title insurance offers coverage to address these concerns if they arise unexpectedly.

Title Insurance vs. RPR and Compliance

While title insurance is valuable for covering unforeseen risks, it is not a substitute for a Real Property Report (RPR) and compliance. An RPR provides detailed information about property boundaries, structures, and municipal compliance, offering clarity that title insurance cannot replace.

Why Title Insurance is Gaining Popularity in Edmonton Real Estate

In Edmonton's fast-paced real estate market, title insurance provides an additional layer of security for buyers and sellers. As a top REALTOR® in Edmonton, I guide clients through the complexities of title insurance, RPRs, and compliance to ensure smooth transactions.

Whether you’re buying or selling a home in Edmonton, understanding the role of title insurance and how it complements other documents like an RPR is key to making informed decisions.

📞 Call/Text: 780-953-0723
🌐 Website: realtyedmonton.ca
Nooran Ostadeian | RE/MAX Elite – Trusted Edmonton REALTOR® specializing in real estate expertise and protection for buyers and sellers.

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Northwest Edmonton is still one of the city's best family-friendly areas. 

Northwest Edmonton is still one of the city's best family-friendly areas. The area is culturally varied and welcoming to all types of families. It provides the ideal combination of residential, retail, and light business real estate to make daily life easier.

Excellent transit and opportunities.

Northwest Edmonton is well-served by the Northgate Transit Centre, which provides public transportation to all regions of the city. Northwest Edmonton is also a popular choice for military families, because it is only just few minutes' drive from CFB Edmonton, one of Canada's largest military posts (Canadian Forces Base Edmonton). The former army base known as Griesbach, which is currently being transformed into one of Edmonton's most sought after new neighbourhoods, has a rich military history.

Castle Downs Edmonton Real Estate, Northwest Edmonton Homes for Sale, Family-Friendly Neighborhoods Edmonton, Affordable Homes in Edmonton, Edmonton Real Estate Market, Castle Downs Properties, Buying Homes in Northwest Edmonton, Edmonton Property Listings.

Nooran Ostadeian | RE/MAX Elite – Your trusted expert in Edmonton real estate
📞 Call/Text: 780-953-0723
🌐 www.realtyedmonton.ca | www.nooranrealty.com
Re/Max Elite Windermere
5083 Windermere Boulevard South West #302, Edmonton, AB T6W 0J5

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ABOUT NORTHEAST EDMONTON

Northeast Edmonton will always be one of Edmonton's most affordable neighborhoods, catering to families with young children. McConachie, Cy Becker, and Crystallina Nera are three of the nicest family neighborhoods in the area.

Excellent transit, location and parks.

Northeast Edmonton is well-served by public transportation, with Eaux-Claires Transit Centre, which links to Northgate Transit Centre, providing access to all regions of the city. Northeast Edmonton is indeed a popular choice for war veterans, because it is only just few minutes' drive from CFB Edmonton, one of Canada's largest military facilities (Canadian Forces Base Edmonton).

Because of the numerous lakes and open spaces found within its neighborhoods, Northeast Edmonton is often referred to as the "Lake District." Anthony Henday Drive, Manning Freeway, and 97 Street are just a few of the many convenient transportation alternatives accessible.

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 pass on the property. That’s unfortunate because they may miss out on a great home at a good price!

How do you conquer this fear?

The first step is to get your finances in order. Determine how much your current property will likely sell for on today’s market. Also, talk to a lender or mortgage advisor to find out how much of a mortgage you can get. This will give you a fairly good idea of what you can comfortably afford.

Don’t forget to factor in monthly expenses when determining affordability. If you’re looking to move to a larger home, or one that’s in a highly desirable neighbourhood, your mortgage payments may be higher. Other expenses, like utilities, might increase too.

Remember, a new home is as much a lifestyle investment as it is a traditional financial one. You’re making an investment in your – and your family’s – happiness. That might even make it worth spending a bit more. And, once you’ve reviewed your finances and anticipated your expenses, you may discover you can do just that!

So, take all these factors into account and determine a price range within which you can comfortably shop. That will make it easier to make an offer on that perfect property with confidence, and with no fears of regret.

• Foreclosure properties are in demand and often sell at market prices.

• If your client's foreclosure bid 'wins' and they are getting a bank mortgage, the lender needs what lenders need for every deal, a final, unconditional real estate purchase contract (offer to purchase). For a foreclosure purchase, that final, unconditional offer to purchase is the signed, filed, Court Order approving your deal. 

• Buyers need to understand that most lenders won't even start processing a mortgage application until there is that final, unconditional offer to purchase. As a Realtor assisting a buyer, you have to work very closely with your buyer's mortgage broker. Make sure you know what the likely lender requires. It may mean an appraisal upfront, and it's crucial to have a backup plan. Either a private mortgage or cash purchase needs to be discussed with your mortgage broker in case the Courts/lawyer do not allow any extension. We had a backup plan; however, it was an expensive one. 

• COVID affects everything, including everything to do with any court process, and that includes foreclosures. As a Realtor working through the foreclosure process, do your best to make your client, the Court and the foreclosure lawyer aware of timing. Your client might have made an unconditional offer, but they need time if closing depends on financing. 

• Make sure the Court and the foreclosure lawyer know that your buyer needs two weeks to close AFTER receipt of the signed, filed, Court Order approving your client's purchase. Try to ask for a clause such as "This purchase will close 10 business days after buyer's receipt of filed Court Order." either in your offer or verbally if you are part of the Court application.

Edmonton housing market to remain balanced in 2021, prices to increase 2%

Edmonton real estate is likely to continue as a balanced market in 2021, with demand being segmented. Buyers are looking for single-family homes and yards, which includes duplex and row-style townhomes. The average sales price in Edmonton increased by 1% to $364,820 in 2020 (Jan. 1 – Oct. 31), compared to $361,152 in 2019 (Jan. 1 – Dec. 31). The RE/MAX Outlook for Edmonton real estate in 2021 is an increase of 2% in average price to approximately $372,116.40.

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Who’s Driving Demand for Edmonton Real Estate?

Move-up buyers are currently driving demand in the Edmonton real estate market, which is expected to continue into 2021. The most popular property type among move-up buyers in Edmonton are single-detached homes and townhouses.

First-time homebuyers in Edmonton are typically single homebuyers. These buyers are not looking at one property type specifically and are buying across all property types. The average price spent on a property by a first-time homebuyer is approximately $300,000.It is expected to be more difficult to enter the market as a first-time homebuyer in 2021, as there is expected to be less inventory, making it tough for buyers to find the right property.

Move-up buyers in the Edmonton housing market are typically young couples. There has been very little hesitation in move-up buyers when it comes to entering the market, as many are trying to take advantage of the low interest rates and low property values. Move-up buyers in Edmonton have changed the criteria on what they look for in a home due to COVID-19. Many move-up buyers are looking for yards, more space, separate offices and finished basements.

The condominium market in Edmonton is most popular with single homebuyers and young couples. The average price for a condo in Edmonton is $222,181. Apartment-style condos are currently in oversupply, which means prices are likely to drop. Currently in Edmonton, many examples of large assessments have been seen, mostly due to insurance costs escalating dramatically for condo corporations, which has resulted in higher condo-fees.

Edmonton’s luxury market is currently driven by move-up buyers with the average starting price for a luxury home in Edmonton being $1,000,000. At this price point, many buyers are getting great value, with the majority of the homes being newer infill or older beautifully renovated homes with large yards in mature areas, or huge lots, often with ravine or private nature backing, in new development areas.

Edmonton’s Hottest Neighbourhoods

Edmonton’s top-selling neighbourhoods in 2020 were Anthony Henday Zone (West), North Central Zone and Southwest Zone. These neighbourhoods are expected to continue as the most popular neighbourhoods moving into 2021.

Edmonton New-Home Construction

Edmonton’s new-home construction sales are strong for single-family in both the suburbs and infill. Apartment condos are in oversupply. Most buyers are looking for a new or “like new” home across all price ranges. Based on the current demand, single-family, duplex/rowhouse and townhomes with yards are a little undersupplied. One new-home construction trend that has emerged throughout 2020 has been the need for home office space options, which is directly related to COVID-19.

Canadian Housing Market in 2021

Canadians are on the move. RE/MAX isn’t calling this an “exodus,” but the re-location trend across the Canadian housing market is real, and it’s just one focus of the RE/MAX 2021 Housing Market Outlook Report. RE/MAX Canada anticipates healthy housing price growth at the national level, with move-up and move-over buyers continuing to drive activity in many regions across the Canadian housing market. An ongoing and widespread housing supply shortage is likely to continue, presenting challenges for homebuyers and putting upward pressure on prices.

Due to these factors, the 2021 RE/MAX 2021 outlook for average residential prices is an estimate of +4% to +6% nation-wide. Here’s the regional break-down:

Additional report findings include:

• 35% of RE/MAX brokers indicate that “move-over” buyers from other cities and provinces will continue to spark market activity in 2021

• 45% of RE/MAX brokers indicate that move-up buyers will likely be a primary driver of the housing market demand in 2021

• Half of Canadians (53%) are confident that Canada’s housing markets will remain steady in 2021

• 52% of Canadians believe real estate will remain one of the best investment options in 2021

“Despite the tragic impacts of the pandemic, our optimism in the strength of Canada’s housing market has always remained,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. “While we’ve seen a significant shift in buyer preferences this year, we believe factors such as the supply issue, pent-up demand and historically lower interest rates will continue to fuel activity in 2021.”

Edmonton, March 2, 2018: Spring has hit the real estate market in the Edmonton Census Metropolitan Area (CMA), bringing strong unit sales and average price increases.

When compared to January 2018, unit sales across all categories increased, with single family home sales increasing 22.97%, condo sales increasing 14.17% and duplex/rowhouse sales increasing 21.28%. Year over year single family homes unit sales decreased 4.21%, condo sales decreased 4.92% and duplex/rowhouses sales decreased 7.32%. Year to date sales for all residential categories was up 2.43% compared to February 2017.

Month over month and year over year average unit prices increased across all categories. The average price of a single family home was $442,206, which was an increase of 3.14% compared to January 2018 and an increase of 3.73% compared to February 2017. The average price of a condo was $236,808, an increase of 4% month over month and 1.48% year over year. The duplex/rowhouse average price increased to $354,638, up 1.73% relative to January 2018 and up 2.62% relative to February 2017.

“February turned out to be a busy month for REALTORS®, which was reflected in the increases in sales activity and average prices across all categories of residential properties,” said Darcy Torhjelm, Chair of the REALTORS® Association of Edmonton.

Inventory increased 10.90% compared to January 2018 and was up 8.67% compared to February 2017. Listings also increased, up 4.03% month over month and 5.92% year over year. 

Days on market decreased for all categories compared to January 2018. Single family homes took an average of 59 days to sell, condos required 75 average days and duplex/rowhouses needed 64 days to sell. Overall the average days on market for all residential properties was 65, which was 10 days faster than January 2018 and identical to February 2017.

MLS® System Activity for February 2018

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

Nooran Ostadeian | RE/MAX Elite – Your trusted expert in Edmonton real estate
📞 Call/Text: 780-953-0723
🌐 www.realtyedmonton.ca | www.nooranrealty.com
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5083 Windermere Boulevard South West #302, Edmonton, AB T6W 0J5

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"Edmonton is Canada’s most affordable urban real estate market, offering low property taxes, rising home values, and great opportunities for first-time buyers and investors. Discover why Edmonton is ideal for affordable living and real estate investment."

Edmonton, January 3, 2018: The Edmonton Census Metropolitan Area (CMA) real estate market marked a year of overall stability in 2017. All residential year-to-date unit sales were up 1.50%. In total, 16,441 residential units were reported sold in 2017 as compared to 16,198 in 2016.

Year-to-date prices were also consistent with modest increases throughout 2017. Average single family home prices increased 0.77% to $437,744 and average duplex/rowhouse prices increased 0.12% to $348,225, while average condominium prices decreased 0.96% to $248,130.

“2017 was a steady year for real estate in Edmonton and many of the surrounding municipalities, where sales and prices were quite stable for the majority of the year,” said Darcy Torhjelm, REALTORS® Association of Edmonton Chair. “For most of the year we continued to see home buyers take advantage of low mortgage rates and a slightly increased inventory, while sellers enjoyed solid prices for their properties.”

Average year-to-date days on market for 2017 for all residential units was 59, up 2 days from the average of 57 days on market in 2016. Year-to-date listings were also up, increasing 2.38% over 2016. The reported all-year sales to listing ratio was 52%, indicating a fairly-balanced market.

As is seasonally normal, sales dropped in December from November, but are up year over year from December 2016 in all categories. For single family homes, sales decreased 19.83% month over month, and increased 22.84% year over year. Condominium unit sales declined 23.53% compared to November 2017 but increased 15.42% relative to December 2016. Duplex/rowhouse sales decreased 24.59% month over month, however, increased 21.05% year over year. In total, the average all residential unit sales decreased 22.09% month over month, however they increased 19.42% compared to December 2016.

Average prices declined in December 2017, both month over month and year over year. Single family homes average prices decreased 5.63% compared to November 2017, and decreased 2% compared to December 2016. Condominiums prices increased slightly by 1.74% relative to November 2017 and decreased 3.18% relative to December 2016. Duplex/rowhouse average prices decreased 6.07% month over month and 6.80% year over year.
 
“Now that the holiday season is over and a new year is here, we expect listings and sales to begin to ramp up again,” said Torhjelm. “We encourage both potential buyers and sellers to talk to their local REALTOR® about their options in this market and what is right for them.”.

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MLS® System Activity for January 2017