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Archive for February, 2011

Open house in Newton

Thursday, February 24th, 2011

please join us from 2-4 for an open house. This apartment style condo is meticulously maintained and an unbeatable value.

Click here to view property details.

Dave Dry
Realtor, Re/Max Real Estate
Office: (780) 457 3777
Cel: (780) 446 3727
Fax: (780) 478 7017

Open house in Grandin

Friday, February 18th, 2011

Please join us for an open house in this 2 bedroom 1300 sqft condo with a den and Ravine view! Country views but minutes from everything.

Property details.

Dave Dry
Realtor, Re/Max Real Estate
Office: (780) 457 3777
Cel: (780) 446 3727
Fax: (780) 478 7017

Price reduction #207 5 Gate ave, St.Albert

Thursday, February 10th, 2011

The price on my listing #207 5 Gate Ave in St.Albert has been reduced $10,000 to $340,000. This is a meticulously maintained unit with a fantastic Ravine view, ideal for watching spring arrive.

Property details.

Dave Dry
Realtor, Re/Max Real Estate
Office: (780) 457 3777
Cel: (780) 446 3727
Fax: (780) 478 7017

Mortgage rates on the move.

Thursday, February 10th, 2011

TD Canada Trust and CIBC are raising some of their fixed-term rates by as much as one-quarter of a percentage point Tuesday.

This is the first increase in mortgage rates since the change in mortgage rules decreasing the maximum amortization period from 40 to 35 yrs.

But Kelly Porter, the owner of the Mortgage Alliance franchise in Edmonton, doesn’t believe home owners should be concerned.

“At this point, the mortgage rates are still at a 40 year low,” remarks Porter. “The fixed rates, all be it are moving up…the variable rate controlled by the Bank of Canada and the prime rate is not changing at this point. So I personally don’t believe that they should be concerned about a quarter point move in any way.”

Both TD Canada Trust and CIBC are raising their five-year mortgage, one of the most commonly chosen by homeowners, to 5.44 per cent.

Porter says a quarter point increase on a $300,000 mortgage will add around $75 a month to the bill. Adding it’s still a great time for first time home buyers or for those who own a home looking for a better interest rate then what they had.

“Even going back a couple of years, rates were in the 5 percent mark. So we start going back to the original talk about what a quarter point would do on a $300,000 mortgage…well, if we start talking about that same $300,000 mortgage on a 1 percent savings of an interest rate, we could be talking $300 plus on a monthly mortgage payment as a savings

RBC and other lenders are sure to follow this lead.

Please call me if you have any questions or concerns on how this may effect you and I would be happy to provide you with reliable up to date mortgage rates.

Making your Real Estate needs my priority
Dave Dry
Realtor, Re/Max Real Estate
Office: (780) 457 3777
Cel: (780) 446 3727
Fax: (780) 478 7017

Re/Max Market barometer

Wednesday, February 9th, 2011

‘Wild card’ props up Canadian housing markets

over past decade

Inventory remains key to stability in 2011

Click here to view in video format.

Tighter inventory levels helped to make the last decade one of the healthiest periods on record for Canadian real estate, insulating markets in major centres from the peaks and valleys characteristic of past decades, according to a report released by RE/MAX.

The RE/MAX Housing Barometer Report measured monthly sales-to-new listings ratios in 18 major centres across the country from January 2000 to December 2010.  The report found strong seller’s/balanced conditions prevailed for much of the time frame, prompting significant gains in housing values.   The lone exception was when the market dipped into buyer’s territory during the latter half of 2008 and early 2009.  However, fewer listings served to offset diminished demand and provided greater stability. Average price increases from 2000 to 2010 ranged from an annually compounded rate of return of 4.82 per cent in London-St. Thomas to a high of 9.56 per cent in Regina. The national average was 6.82 per cent.  By far the tightest market in the nation was Winnipeg, where seller’s ruled the roost for 85 per cent of the decade, followed by Hamilton-Burlington (67 per cent), Regina (63.6 per cent), Kitchener-Waterloo (59.8 per cent) and Edmonton (57.5 per cent).

While population growth, pent-up demand, and a strong economy also contributed to the run up in activity, inventory played a major role in price growth.  The recent recession was case in point.  Supply remained largely in check, keeping prices on the upswing despite softer demand.  That is expected to continue, given an improved global economic picture, lower unemployment rates and rising consumer confidence—all of which have buoyed home buying activity since November.  While sales figures are expected to be slightly off 2010’s heated pace, housing values are forecast to continue to climb in Canadian real estate markets in 2011—with most a direct result of lower listing levels.

A number of city centres are already reporting stronger than usual housing activity out of the gate, with first-time buyers comprising the vast majority of purchasers and move-up buyers in close pursuit.  Demand and supply are on relatively even keel at present in most areas, but the traditionally busy spring season is expected to keep the market at a perfect equilibrium in the days and months ahead.  However, there may be some exceptions to the rule.  The country’s largest markets—Greater Toronto, Greater Montreal, and Greater Vancouver—are expected to head into the second quarter with fewer listings overall.  Two centres—Newfoundland & Labrador and Kelowna—are still firmly entrenched in buyer’s markets.

Inventory has always been the wild card.  Its influence is remarkable, but a number of other factors will serve to bolster Canadian real estate moving forward including land scarcity, intensification, immigration, continued infrastructure and capital spending, improving money markets and the rebounding economy.  The threat of rising interest rates and the changes to mortgage lending may also prompt a flurry of activity affecting price growth in the weeks ahead.  Yet, overall, gains in 2011 will be more moderate than those noted in the past decade.

Western Canada experienced some of the highest rates of return for real estate over the 11-year period.  While values in Regina posted the greatest percentage increase (9.56 per cent), Edmonton, (9.25 per cent), Saskatoon (9.2 per cent), Winnipeg (9.01 per cent), Kelowna (8.42 per cent), Greater Vancouver (7.8 per cent), Calgary (7.7 per cent) and Victoria (7.59 per cent) all outperformed the national average.

Equally strong gains were posted in Quebec.  While solid balanced market conditions prevailed for much of the decade, housing values in Quebec City and Montreal rose 9.2 and 8.48 per cent respectively on an annually compounded basis.

Increases were more moderate in Ontario and Atlantic Canada—with the exception of Newfoundland & Labrador, where values escalated 8.14 per cent on average.  Ottawa led in terms of price appreciation in Ontario at 6.78 per cent, followed by Hamilton-Burlington at six per cent, Kitchener-Waterloo at 5.69 per cent, the Greater Toronto Area at 5.35 per cent, Moncton at five per cent, and London-St. Thomas at 4.82 per cent.

There’s no question that price growth has been solid over the past decade, but history tells us that exceptional growth supported by sound fundamentals is healthy.  Concern is only raised when the underpinnings are insufficient to justify the trajectory.  By all accounts, Canada’s real estate market measures up to conventional wisdom, and the faith in homeownership has not been misplaced.

While the statistics are impressive, they alone cannot tell the tale.  The gains realized over the past decade speak to the tremendous resiliency of the Canadian residential housing market.  Considering catastrophic events, both natural and manmade, that occurred throughout the period—SARS, forest fires, ice storms, 9/11, a recession—the performance of the real estate sector proved that much more significant.  It remained a consistent bright spot supporting economic growth and ancillary spending, and subsequently helped lead the nation out of the greatest downturn in recent memory—its hardy nature heightening its appeal as a long-term investment.

Residential Average Price – Compound Annual Growth Rate (CAGR) by Market
2000 – 2010
Avg. $ Avg. $
Market 2000 2010 CAGR %
Newfoundland & Labrador $99,525 $235,341 8.14%
Halifax-Dartmouth $128,003 $253,610 6.41%
Moncton $89,065 $152,251 5.00%
Montreal $121,544 $297,621 8.48%
Quebec City $90,079 $237,240 9.20%
London-St. Thomas $135,857 $228,114 4.82%
Kitchener-Waterloo $157,317 $289,041 5.69%
Hamilton-Burlington $164,168 $311,683 6.00%
Greater Toronto $243,255 $431,463 5.35%
Ottawa $159,623 $328,439 6.78%
Winnipeg $88,553 $228,706 9.01%
Saskatoon $112,567 $296,293 9.20%
Regina $94,518 $258,023 9.56%
Calgary $176,305 $398,764 7.70%
Edmonton $124,203 $328,803 9.25%
Kelowna $168,551 $410,302 8.42%
Victoria $225,731 $504,561 7.59%
Greater Vancouver $295,978 $675,853 7.80%
CANADA $164,091 $339,030 6.82%
Source: CREA, TREB, Okanagan Mainline Real Estate Board, RE/MAX

Making your Real Estate needs my priority.

Dave Dry

Realtor Re/Max Real Estate

Office: (780) 457 3777

Cel: (780) 446 3727

Fax: (780) 478 7017

Just listed 1,064 sqft 2 Bedroom, 1 bathroom bi level in Miller

Tuesday, February 8th, 2011

I have just listed this fabulous starter home in Miller complete with oversize double car garage.

Property Details.

Dave Dry Realtor

Re/Max Real Estate

Office: (780) 457 3777

Cel: (780) 446 3727

Fax: (780) 478 7017

Open house Saturday February 5

Thursday, February 3rd, 2011

Please join us for our open house 5316 – 118 ave from 2-4.

Property details.

Dave Dry

Re/max Real Estate,
Cel: (780) 446 3727
Office: (780) 457 3777

January Stats

Wednesday, February 2nd, 2011

Market activity for the month of January 2011

December Change from November to December 2010 January Change from December 2010 to January 2011
New Listings 965 -846 -46% 1,258 293 23.2%
Active listings 5,721 -1,284 -18.3% 5,633 -88 -1.5%
Sales 784 -287 -26.7% 482 -302 -38.5%
Average Sale price

*House and Condo sales

$289,362 -$7,601 -2.5% $288,635 -727 -0.25%
House $355,271 -$8,728 -2.3% $356,276 $1,005 0.28%
Condo $223,454 -$6,474 -2.8% $220,994 -$2,460 -1.1%

January’s statistics what do they tell us ?

Typically January is the slowest month of the year, and this year has been no different. The challenges of weather in the last few weeks have had an effect on market activity.

Prices have stayed stable through the month, slight drops in condominium prices have been negated by rise in house prices.  A decline in listings and sales are again typical of this time of year. February will see activity picking up on all fronts with prices beginning to rise.

As market prices rise through the spring and summer eclipsing 2006 and 2007 numbers this will release more of those who wish to sell but are restricted by paying the inflated prices of the housing boom. These homes will come on to the market further stimulating the economy. With the price of oil at $99 a barrel; developments in Egypt and concerns about the reliability and security of the Suez Canal, as oil from the Middle East to the west must go through here, may cause oil prices to continue to climb. A higher demand for reliable Alberta oil could spur the oil sands to re start upgrades that have been put on hold.

As we become more and more a global economy events around the world will continue to have a greater effect here at home.

If you would like to talk about how this my effect you please feel free to contact me at any time.

Making your Real Estate needs my priority.
Dave Dry
Re/Max Real Estate
Office: (780) 457 3777
Cel: (780) 446 3727
Fax: (780) 478 7017

Apartment condo for sale in Newton.

Tuesday, February 1st, 2011

Newton, Edmonton  –  This spotless unit is located in a concrete building, on the top floor. Both great qualities for quiet living.Heated underground parking ensures that you and your car stay warm and thawed out. stainless steel fridge and stove are just over a year old (Nov 20090. Efficient use of space make this unit feel large and spacious. Laminate floors throughout lend an air of elegance. Included in the sale are a window air conditioner and portable washer and dryer, doing your laundry in your suite means not having to run out to check your laundry, missing your favorite shows. This is the best price in the building and real value for money!

Property details.

102 – 12650 151 AV
Office: (780) 457-3777
Cel:(780) 446-3727

The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the REALTORS® Association of Edmonton. Trademarks used under license from CREA.