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!

In Real Estate, statistics are examined monthly, yearly, even daily, in order to determine overall trends and general health of the Real Estate Market.

For those of you who know me, I rely a great deal on numbers and statistical data to do my job. Numbers are an objective measure to help determine a house’s value, and numbers don’t lie!  Whether you are purchasing a home or selling one, it is important to understand the role the data play in determining the relative value of a home and in determining how many properties may be directly competing with that home as well.  One way to determine this is to calculate the Absorption Rate in a given market.

What is the Absorption Rate?

Simply put, it is an indicator that demonstrates the Supply and Demand in the marketplace. It is the number of months of inventory on the market, and the length of time it could take to sell the current inventory, based on a specific set of parameters, such as house style, age, size and location.

Why is it Important?

You all heard that Supply and Demand affects price. Supply and Demand are variables that we can do nothing about as consumers – they fluctuate up and down depending on the current market.  The variable we can control, however, is price. That is why setting the right price is CRUCIAL  to achieving good results when selling. Conversely, overpricing will hurt a seller’s overall objective – to sell for the most money possible.

How is it Calculated?

First, establish the specific parameters for the market you wish to examine, such as a particular neighborhood, house style and size. Second, find the total number of sales for the past year. Third, take this number and divide by 12 to calculate the total number of sales per month. Next, take the CURRENT number of homes available (not sold and within the same parameters) and divide this number by the average number sold per month. This final number will give you the Absorption Rate in months.

What Does this Number Mean?

If you get a number that is, say 4.6 months, that is generally considered a Balanced market, where Supply and Demand are basically “even” and do not favor either the Buyer or Seller.

If you get a result in the 3’s or lower, that means we are in a Seller’s market, as there are less months of inventory to choose from. Properties tend to spend less time on market, and there may be a greater likelihood of multiple offers, as buyers are competing over fewer properties.  If these conditions persist over a period of time, it may also result in a higher average sale price as well.

If the number that you come up with is 7 or higher, it is safer to say you are in Buyer’s market.  Properties take longer to sell and may sell for less money if these conditions continue over a period of several months. It is critical to price a property accordingly or it will sit on the market and  depreciate over time, becoming less valuable to the Buyer.

If you would like to know the Absorption Rate for your area, I would be happy to help! Contact me, and I will pull the data for your area, help you determine what kind of market you are in, and advise accordingly!

The old adage, “You can’t judge a book by its cover” does NOT ring true in Real Estate! I have had, on occasion, pulled up to a property to show to prospective Buyer clients only to hear, “Sorry, let’s skip this one – I don’t like how it looks on the outside”. While this happens infrequently, it illustrates the fact that a house’s curb appeal CAN have a major impact on a buyer’s decision to go inside, which could make or break a sale.

What DO Buyers look for when sizing up a home from the outside? Here are some tips on some important areas to address:

1.) Condition of Landscaping   Make sure the lawn is free of weeds, is neatly trimmed, and that shrubs and trees are properly pruned and manicured. Make sure that trees and shrubs do not obscure the front of the house. While this may provide privacy to the home owner, too much shrubbery may make the house look small and insignificant by comparison.

2.) Condition of roof and eaves  While there is always work to be done on an older home, make sure the roof and shingles are in good condition. If the shingles are curling and show excessive wear, many buyers will walk away, knowing that it could cost $4000-$8000 (or more) to replace the shingles, assuming there is no damage underneath. If you live in an area with mature trees, make sure the eaves are clear of debris and that trees are not too close to the house, as this could damage the roof.

3.) Check the maintenance of trim and entry/exit points  Is the trim on the doors and windows painted or capped? Very few buyers like to do this job, as it can be quite tedious. Freshen the paint on any wood trim and  check to make sure that vents, and entry / exit points are properly sealed or covered. This prevents moisture from penetrating as well as insects or small rodents entering the home, which can be a deal-breaker for many buyers.

4.) Check the front door  Think about it – the front door is the buyer’s first and last impression. Make sure it is in good condition, is clean and that the hardware works properly. Nowadays, with many people entering their home via an attached garage, this is very important, and often overlooked! Make sure those impressions are good ones!

5.) Accent with the right decorating  In summer, accent with some planters and hanging baskets. And PLEASE, take down the Christmas lights after Christmas is over. Decorating should enhance but not distract from the appearance of a home. And when in doubt, ask a neighbour.  It is the simple little things that can make a difference.

Want more tips on preparing your Sherwood Park or Edmonton home for sale? Contact me and I can help you get ready to SELL!

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!

I often get asked, “When is the BEST time to sell my home?” To me, that question is a bit like asking, “When should I start raising a family?  The answer is, “When you are ready!”  Sellers have all kind of reasons for selling, and these can occur throughout the Year!

Most people choose to list and buy in the Spring. This is borne out in our Edmonton and Sherwood Park Real Estate data, where year after year, the peak of inventory AND the peak of Purchases occur during the third week of May.  OK, so that is what the majority of people do – the grass is green, the flowers are blooming, and summer is on its way. But does that mean Fall is NOT a good time to sell? The answer is a resounding, “No”, for the following reasons:

Less Inventory to Compete With! If the majority are listing in the Spring, that means at that time you are competing with more homes to get the attention of interested Buyers. If you list in the Fall, you have less competition as a Seller, which is good!

Low Interest Rates. Interest rates are still very low, and that could change next year in the Spring /Summer market, making your home less affordable for certain Buyers.

Less volatile time. Because the market is less busy in the Fall, it may be easier to predict the value of your home.

Great time for Move-Up Buyers. Say you want to move to a bigger, more expensive house, but you are thinking that you will get 2% more money for your house next Spring. That also means you will be paying 2% for the house you will be buying at that time as well, as the market does not discriminate!  You will gain LESS in the sale than you will be paying out on your purchase. If you are downsizing, it might make more sense to sell in the Spring. It’s really  all about what you net,  after all!

Buyers in the Fall are Serious! No fooling around! If they need to buy, chances are they aren’t kicking tires. They typically want to move in and get settled before Christmas, and preferably before it gets really cold if they can help it!  Serious buyers mean serious offers. That, combined with less inventory, means a better offer for you, the Seller!

If you ARE considering putting your home on the market soon, please contact me for a no-obligation market evaluation that determines the value of your home. I can also help you if you are thinking of Buying in the Sherwood Park and Edmonton region. What are you waiting for, Christmas? 🙂

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!