As 2016 begins, we often reflect on the successes and failures of the past year and look forward to new beginnings by creating Resolutions as a fresh year unfolds.

Typically most people’s goals include getting healthy, travelling more and getting more fun out of life. Sometimes these goals can be financial ones, such as eliminating debt or saving up for a desired purchase. It may even include real estate. Perhaps you are thinking of “right-sizing” to a home that better fits your needs and current lifestyle.  Yes, you heard me correctly: buying a larger or smaller home can bring more happiness into your life!

I recall when I moved last year, it was to enjoy a better lifestyle. My home had to have a bigger yard ( my hubby and I love to garden!) and have enough guest rooms to allow family or friends to stay overnight. We also wanted less stairs for when we became older and stairs might be difficult.  The solution? a renovated bungalow on a large mature lot, with plenty of parking for my two kids.

So what about you? How does real estate fit into your goals for 2016?  Here are some ideas to get you started!

1.) A New Home can Give you More Space

I know, this one is obvious, but a lot of people put up with a lack of space for far too long. Not having dedicated spaces for everyone can be stressful, particularly when people come to visit. Parking can also be an issue when children get older and start to drive. You can make a large space smaller, but it is difficult to make a small one bigger.

2.) A new Home can Provide Simplification to Your Life

As we age, the needs we require in our home change too. Perhaps the house that was perfect for a family of 5 is now too large to manage when it is just the two of you in the house. Downsizing can ensure that you are maintaining only the amount of house you need. With that comes less upkeep, less property taxes and utility use, and more free time. Why make things complicated?

3.) A New Home can be a Better Fit for your Hobbies and Interests

Perhaps you like to putz around in the garage. Or your family loves to watch movies together on a regular basis. Hobbies such as scrap booking, cooking, woodworking and tinkering with old automobiles necessitates a dedicated use of space that may not be possible in your current home.  This can provide additional enjoyment without encroaching on your everyday living space.

4.)  A New Home can Bring you Closer to Friends and Family

People often want to live close by to people they know and enjoy.  After you move, you can’t change your neighbors, so if you move to a place where you have friends, that is icing on the cake! Or, maybe you have a neighbor you don’t get along with?  Either way, you are making a move that makes sense!

5.) A New Home can be a Source of Pride

I believe everyone should be proud of their home. It doesn’t have to be the biggest house, or the fanciest house- it just has to be a good fit for you!  Whether it’s  for aesthetics, functionality, or a neighborhood with amenities you enjoy, your choice of home should reflect a source of pride – a place you are happy to call home!

Is owning a new home in Edmonton or Sherwood Park part of YOUR Resolutions for 2016?  Contact me, and lets discuss some options!

Your home is quite likely your most valuable asset. We live in a time where Interest Rates are low, and inventory is (relatively!) high. You might be thinking of buying a home in Edmonton or Sherwood Park for various reasons. It might be due to change in lifestyle, such as the kids moving out of the house, a new baby on the way or any number of factors. But without having your financial ducks in a row, it can be increasingly difficult to purchase a home. Here are some questions you need to consider, during during or before getting pre-approved for a mortgage:

1.) What is your credit score?
Banks and lenders use this score to determine your financial worthiness when obtaining a loan. It is a 3-digit number that is basically a measure of how trustworthy you are with money. The higher the score, the more banks/lenders will like you and be willing to work with you in securing a mortgage. If your score is low, there are steps to take to improve your score. But, it won’t happen overnight, It takes time.

2.) How much equity do you have in your current home?

Equity is the difference between what you paid for your house versus what it is worth now. Generally, over time your equity will increase. However, if you bought at the wrong time and your house is now worth less, or if you have been borrowing against the equity of your home to pay off debt, you may find yourself with little equity left, and this will affect your purchasing power.

3.) What is your current home worth?
If you own a home already, having an idea of what your current home may sell for is very helpful in the pre-approval process as mentioned before. Be sure to get a professional opinion from a licenced Realtor (R) as property assessments may not be accurate. Your perceptions may also not be accurate. Knowing the approximate value of your home beforehand will provide a more realistic picture of the equity you may have after selling your home.

4.) What kind of lifestyle do you want?
Knowing what kind of lifestyle you want to have is key. Do you like to travel? How many vacations do you want to take in a year? Do you have kids going into Pose Secondary School? Are you expecting to expand your family? You don’t want to put all your eggs into one basket (your house) and leave little room for any of the finer things in life. These are just of the questions that only you can answer, and need to ask yourself when analyzing the amount that you want to spend on your next home.

5.) Do you have an Experienced Mortgage Advisor?

Having an experienced Mortgage Professional who handles your mortgage can make all the difference in the world. Carrying out a thorough pre-approval can prevent disappointment and wasted time for everyone. A true pro can handle most situations with ease and will keep you informed throughout the process, leading to a positive outcome for everyone! I can help you with recommending someone who will help get the job done with knowledge AND experience!

Do you have more questions about whether you are financially ready to take the next step? Call me today and let’s get the process started!

This year, my husband and I decided to put our Sherwood Park house on the market. Now, you would think this would be a piece of cake for me, After all, I have been trading in Real Estate as a Realtor (R) for almost 10 years now, so you would think I would have this down pat. Well, the truth is, I now have a new found appreciation for Sellers after seeing the selling process from a Seller’s perspective. Here are some insights I gained along the way – enjoy!

1.) Your house can never be “too clean”.
This is something I obsessed about constantly to the point where my teenaged daughter called my “Psychotic” because I was constantly cleaning the house. Does it have to be perfect? No, but it is sure something to aspire to minutes before the buyers arrive!

2.) It’s a real hassle when you have a pet.
Now, don’t get me wrong, I love my dog. She is part of the family. But driving around in the car while your dog is anxiously wondering where you are taking her (only to return home!) is fine for about 10-15 minutes. Not an hour.

3.) You really start to notice how much cr*p you have.
All that junk you have stored in your basement? Yes, it was taking up precious square footage of your home all this time. Some of it may still be in sealed boxes from the last move! But…. it is sooooo therapeutic to purge it out of your house for good. Just DO IT!

4.) You can NEVER have too many boxes!
It’s amaziing how many boxes you need to move just one room of a house. So, get as many boxes as you can get a hold of, and contact people who have recently moved and offer to pick up their boxes as they unpack. It can save you hundreds of dollars and make the whole process of packing easier. I did purchase a “China set” moving kit this year, and it was worth every penny. Saving time also saves money.

5.) Even though you are looking forward to good times in the new house, you will feel sad about leaving old friends and neighbors behind. Bricks and mortar may make a home, but it is the memories from the people you interact with that matter the most. I watched my girls grow from young girls to teenagers in this house. I remember when they rode on their bikes in the cul-de-sac and played tag in the front yards with their friends, and made s’mores over the fire in the back yard.  Those days are long gone now, but the memories remain.

Is it all worth it? Yes, it is! Let me help you with your next move, whether you are moving to a different community, upgrading or downsizing, I would love to help you sell your home and find a new one! Contact me, and let’s get started!

Forecasting what will happen in the Housing Market in Edmonton and Sherwood Park is a bit like trying to predict the weather.  There are so many variables to consider that affect real estate values.  But, like the weather, we can make some well-educated guesses based on statistical data and the opinions of Economists, real estate investment experts, and Realtors (R) themselves.  Here are some trends to expect in 2015:

1. Prices will continue to rise, but at a slower pace than what we saw in 2014.  We are expecting prices for single family homes to increase anywhere from 2- 3.5% this year, based on tight supply and high demand.
2. We are not expecting a drastic increase in Interest Rates.  It is generally predicted that if Interest Rates rise, it will not be by much (i.e. 25 basis points) and will occur in the 3rd or 4th Quarter of this year.
3. Inventory is currently low and Buyer demand remains high. Despite the drop in the price of oil, the market is tight, particularly with homes in the $350,000 – $450,000 range. So, if your home falls in between this range, this is an incredibly good time to put it on the market!  Just make sure to give yourself a long Possession date so that you have time to find the home you want, as we are predicting more inventory to come on the market as we get closer to Spring.
4. We are continuing to see high demand in the $1 million+ plus homes, which is an indicator of not only higher incomes, but also Consumer confidence in the Move-up market.
5. Because the average price of a home has continued to rise, we will also continue to see Condo and attached housing sales increase, as these are typically more affordable than single-family homes.

All in all, there is NO talk of a Housing Bubble, although you sometimes hear this in the Media. The overall Consensus is that the Edmonton and Sherwood Park Markets will show Slow and Steady Progress in 2015.  This doesn’t make for fancy headlines, but is good news for Buyers and Sellers alike!

If you would like to know what is happening in your specific area, supported by concrete data and statistics, please contact me to arrange a meeting to see what you potentially get for your home today!

Learn More About Why you Should Buy in Sherwood Park

Sherwood Park is growing in popularity with more and more families. Here’s why:

• Family – oriented community. This community was ranked as the Number One place to raise kids (MoneySense magazine, 2012) out of a whopping 190 Canadian communities!

• Great recreational opportunities. Sherwood Park has each subdivision linked by the  extensive Heritage Trail system, which is used by runners and walkers alike. Milennium Place is a fantastic Multi-use facility for all ages and includes wave pool, fitness centre, soccer fields and more!  There are numerous fitness centres, parks and Sports Teams for all ages.

• Powerful economy. Sherwood Park ranks 4th in Canada for highest annual income, partly due to the strong oil and gas sector.  Sherwood Park is also home to many self-employed residents, and home to future hospital!

• Robust re-sale market. Because of the above reasons, more and more families are choosing to make Sherwood Park home. Sherwood Park may only be a hamlet, but it provides the spirit and services of a larger center!

Since 1998, I have made Sherwood Park home, and have seen it grow and develop in that short time. It is a great place to raise a family –  small enough to be warm and inviting, yet large enough to provide choices for retail and services.   It is truly the Place to Be!

Thinking of moving to Sherwood Park?  Contact me  today to begin your next real estate adventure!

Thinking of buying in Sherwood Park? Ask about my Free home buyers consultation to get started!

Contact Cheryl Kurek for Service You Deserve!