GENERAL

General blog entries.

Found 13 blog entries about GENERAL.

Taxes, a complicated evil that we all have to deal with...and with tax season upon us, there are new rules that you need to know about. The federal government recently introduced changes to the principal-residence tax rules that will affect all Canadian homeowners. Under the new rules, starting in 2016, you'll be required to report every principal (primary) residence sale on your tax return. Although the rules were mostly aimed at foreign investors and "flippers", all homeowners are being affected. There are some hefty penalties for those that do not report a sale. And if you don't report, you may not qualify for the principal- residence exemption (PRE). If you sold your home in 2016, talk to your tax professional to ensure that you comply with the new

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The REALTORS® Association of Edmonton released its annual housing forecast today at a seminar at the Northlands Expo Centre attended by 600 REALTORS® and business leaders. Chair James Mabey forecast that sales of residential homes in the Edmonton Census Metropolitan Area will continue to remain relatively stable in 2017.

Single family homes performed well in 2016, with a slight drop in unit sales and average prices. Unit sales are predicted to continue to decline until the middle of 2017, ending the year approximately 1.7% under 2016 numbers. Single family home prices are expected to decrease by 2.2%. Inventory is expected to remain higher than in previous years. Continued strength in the $350,000 to $450,000 single family home prices category is

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Edmonton CMA MTD Activity June 17, 2016

 

  Sales Volume Sales Average Sale Price New Listings Active Inventory
RESIDENTIAL
Single Family Detached   258,332,414            590        437,851            949          4,145 
Condominium    61,600,678            237        259,918            590          2,904 
Duplex/Rowhouse    30,232,900             86        351,545            147            665 
Residential (Other)     2,481,450             17        145,967             77            419 
  ============= ============= ============= ============= =============
TOTAL   352,647,442           930
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  Sales Volume  Sales Average Sale Price  New Listings  Active Inventory 
RESIDENTIAL          
Single Family Detached   111,647,529            273        408,965            971          3,434 
Condominium    28,729,712            114        252,015            541          2,109 
Duplex/Rowhouse    13,787,843             40        344,696            137            611 
Residential (Other)²       677,000              3        225,666             40            289 
  ============= ============= ============= ============= =============
TOTAL   154,842,084           430       360,097
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If one of your New Year resolutions is to become more organized, decluttering your home is probably at the top of your list. It is for me!  In my line of work, I see A LOT of homes. It's always the ones that look like a showhome, when there's a family living there, that amaze me. How do they do it? That's the question that always crosses my mind.  The organized bookshelves with just the right amount of decorations, the extra pillow, the throw that's neatly arranged on the chair. Nothing is out of place. I always tell myself that one day, I'll get my home to that point.  It's a pleasure to spend time in such spaces.  But how does one get there? Well, I found the perfect article that's helping me organize my space.  A timetable of items that you can

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 FALL IN THE CITY

fall_trees_1296

With that first snowfall under our belts, I thought I’d compile a short list of things that you should consider doing in your yard & garden before winter really sets in.  Luckily our forecast looks pretty nice for the upcoming week; it’s a great opportunity to get outside and enjoy the last warm(~ish) days of this year!

  • Transplant / plant shrubs or young trees to new locations.
  • Fertilize your lawn.
  • Cut diseased areas out of perennials (do not compost these).
  • Rake fallen leaves. And compost!
  • Remove all vegetable plants & fallen fruit.
  • Remove dead annuals from the garden.
  • Cut back perennial foliage (but leave the flowers with seeds for the birds).
  • Continue watering trees and shrubs until the ground
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With summer weather here, it is time to get out of the house and enjoy what our city has to offer.  Check out the many events that you can enjoy with family and friends throughout this summer! This year Edmonton is hosting the FIFA Women's World Cup. Being known as Festival City, you know that there will be plenty of opportunities to get your fill of some amazing theater, music and food. So whether you're indulging in some of your old favourites or exploring new interests, there is something there for everyone.

FIFA Women’s World Cup Canada 2015™ Edmonton June 6 - July 6, 2015
Improvaganza
Edmonton June 17 - 27, 2015
Summer Solstice Music Festival
Edmonton June 18 - 21, 2015
The Works Art and Design
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ALBERTA BUDGET 2015

As many of you may have heard, yesterday the government of Alberta released BUDGET 2015.  Among the many changes to tax rates, new fees and increases, the budget included a change in provincial fees charged for real estate transfers. These changes are effective as of July 1, 2015. (These charges are usually a part of the legal fees that buyers and sellers pay during a real estate transaction).

Below is a table with an example of fees that would be charged on a house purchase of $500,000 with a $400,000 mortgage:

 realestatefees_925

If you have any real estate related questions please feel free to contact us anytime!

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Below is the Edmonton CMA month to date activity as of February 9, 2015 for residential and rural properties.  If you're thinking of selling your home or purchasing a new property and would like a more in-depth analysis for a specific area, please call or email us directly.  We are always here to help answer any of your real estate questions!

  Sales Volume ($) Sales Average Sale Price ($) New Listings Active Inventory
RESIDENTIAL          
Single Family Detached    34,322,000             81        423,728            456          2,535 
Condominium     7,276,700             30        242,556            230          1,461 
Duplex/Rowhouse     5,431,928             16        339,495 
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With the warm summer weather in full swing, it’s time to get outside and enjoy the many fantastic events Edmonton has to offer. Here is just a sample of the many festivals going on this summer:

July 19 – 30          Taste of Edmonton

July 20 – 22          Edmonton Indy 2012

July 20 – 29          CapitalEx

Aug 4 – 6              Heritage Festival

Aug 9 – 12            Edmonton Folk Music Festival

Aug 16 – 26          Edmonton International Fringe Theatre Festival

Aug 17-19            Edmonton Dragon Boat Festival

Aug 24-26            Edmonton Blues Festival

Aug 31 – Sept 3    Symphony Under the Sky

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