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Archive for March, 2012

Open house condominium in Ellerslie on Saturday March 31.

Friday, March 30th, 2012

Please join me for an open house at #324 151 Edwards drive on Saturday March 31 from 2-4 pm.

Ideal for the traveler, need a place to hang your hat between trips. This 1 bedroom condominium has everything you need. Spacious kitchen with stainless steel appliances open to the living room, large bedroom and in suite laundry. Only 15 minutes to the international airport, 2 minutes to the Anthony Henday ring road puts you close to anywhere. With condo fees of only $206 there is no need to worry while you are away.

Property details

Making your Real Estate needs my priority!

 Dave Dry

Realtor, Re/Max Real Estate

Website: www.davedry.com

Blog: blog.davedry.com

Office: (780) 457 3777

Direct: (780) 446 3727

Fax: (780) 478 7017

Re/max Spring report for 2012.

Thursday, March 22nd, 2012
REPORT REMAX Housing Market Outlook Rpt 2012.FNLKelowna, BC (March 22, 2012) — Major Canadian real estate markets continued to show exceptional resiliency throughout the first quarter of the year, with strong demand and diminished supply setting the stage for a heated spring 2012, according to a report released today by RE/MAX.
The RE/MAX Market Trends Report, highlighting sales, price, trends and developments in 15 markets across the country, found that 12 of 15 Canadian centres (80 per cent) were reporting year-to-date (January-February) sales activity ahead of last year’s levels, with more than half reporting double-digit increases. Low interest rates, coupled with strong consumer confidence levels and a mild winter, played a significant role in the upswing, ushering in an early start to the spring market. Average price climbed in 14 of 15 markets (93 per cent) examined, yet appreciation was more tempered, with only three markets posting gains in excess of 10 per cent. Tighter inventory levels at entry-level price points have sparked bidding wars—particularly in Winnipeg and the Greater Toronto Area—with similar conditions starting to emerge in Saskatoon, Regina, London-St. Thomas, Hamilton-Burlington, Ottawa, St. John’s, and Halifax-Dartmouth.
“Housing values are escalating at a steady pace in most major markets,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. “Yet, gains are, as predicted, much more moderate than in years past. We expect this will remain the trend moving forward—in line with the Canadian economy, as GDP growth also moves ahead at a more subdued pace. Conditions will vary locally, with some markets exceeding expectations, largely due to the fact that the significant influx of inventory expected never materialized or, in the case of Saskatchewan and Newfoundland, the local economy has shown extraordinary strength. On the whole, this is a very stable and healthy housing market in line with traditional norms, with few exceptions.”
In terms of sales appreciation, the best performing markets heading into the traditionally busy spring season were Halifax-Dartmouth (35 per cent), Saskatoon (21 per cent), Saint John (20 per cent), Regina (16 per cent), St. John’s (12.5 per cent), Greater Toronto Area (12 per cent), London-St. Thomas (11 per cent), and Edmonton (11 per cent). Only Vancouver, Kitchener-Waterloo, and Winnipeg have experienced softening in housing activity so far this year. Sales are down 16 per cent in the Greater Vancouver, 4.5 per cent in Kitchener-Waterloo, and almost on par in Winnipeg.
“Given the current economic climate, the strength of the country’s housing market clearly reflects the value Canadians place on homeownership,” says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. “One driving factor has been the overall performance of the market over the past decade. Existing homeowners have realized substantial equity gains, especially in recent years, and many are taking advantage of the combination of historically low interest rates and equity to upgrade. Perhaps more importantly, housing has outperformed just about every other asset class – and a principle residence is capital gains exempt – a fact that’s not gone unnoticed.”
Year-to-date average price in most major centres is also on the upswing. Winnipeg, Greater Toronto and St. John’s each posted a percentage increase of 10 per cent in the first two months of 2012. Values in Kitchener-Waterloo followed at nine per cent, while Regina and Saskatoon escalated six per cent.
Purchasing intentions have largely been driven by confidence in a buyer’s own employment and financial picture, followed by major lifecycle events. While global uncertainties caused some to pause in recent years, purchasers will only sit on the fence so long before the need to make a move becomes a stronger impetus. That reality is starting to fuel momentum, along with the domino effect of an enthusiastic entry-level segment. First-time buyers are driving demand in both the smaller and major markets, in turn sparking strong sales activity among move-up purchasers at the higher price points. As a result, the upper-end of the market has also held up well. There’s no question that the spring 2012 market will see all segments working in tandem.
Highlights:
·         Halifax-Dartmouth’s residential real estate market is firing on all cylinders thanks to the $25 billion shipbuilding contract awarded in the last quarter of 2011. Renewed confidence has bolstered homebuying activity, with sales up 35 per cent over one year ago.
·         Markets in Saskatchewan are also red-hot, with Saskatoon (21 per cent) and Regina (16 per cent) supported by strong economic fundamentals and increasing population levels in the province.
·         Tight market conditions have seriously hampered sales activity in Winnipeg, but purchasers remain undaunted. In February, 44 per cent of single-family homes sales sold above list price, while 31 per cent of condominium sales sold for more than ask.
·         In Greater Toronto, multiple offers are commonplace in blue-chip neighbourhoods, with an estimated 50 per cent of detached homes priced in the $600,000 to $900,000 price range selling for more than list price.
·         The First-Time Buyer’s Tax Credit and remediation of the Harmonized Sales Tax (HST) issue in British Columbia is expected to breathe new life into housing markets this spring.

Making your Real Estate needs my priority!

 Dave Dry

Realtor, Re/Max Real Estate

Website: www.davedry.com

Blog: blog.davedry.com

Office: (780) 457 3777

Direct: (780) 446 3727

Fax: (780) 478 7017

Open house in Leduc Saturday March 24, 2012

Thursday, March 22nd, 2012

Property information 

This truly is a rare find. Penthouse, end unit with a view. This two bedroom single bath home has an open concept kitchen, living room and dining room while offering privacy to the bedrooms. Laminate floors in the living room and dining room provide a warm and inviting welcome. Top floor means no noise from above, from the deck you can see for miles. All this and a single car garage and parking stall! Where else can you find a better place to relax and unwind? Close to shopping, Airport and 20 minutes from Edmonton. Small town living combined with the convenience of a big city. A rare find.

Making your Real Estate needs my priority!

 Dave Dry

Realtor, Re/Max Real Estate

Website: www.davedry.com

Blog: blog.davedry.com

Office: (780) 457 3777

Direct: (780) 446 3727

Fax: (780) 478 7017

CMHC predicts higher prices in 2013

Monday, March 5th, 2012

This is the Alberta overview taken from the CMHC housing outlook released for the first quarter of 2012. It gives a good perspective of the Alberta market, adding credibility to the prediction of steady growth throughout the year.

Alberta Overview

With respect to overall economic growth, Alberta’s real Gross Domestic Product is forecast to grow by 3.5 per cent in 2012 and 3.3 per cent in 2013. Despite low natural gas prices, Alberta’s commodity-driven economy will experience the strongest economic growth among Canada’s provinces in 2012 and 2013. Substantial investments in exploration and development of Alberta’s natural resources will be a key driver of economic growth. Energy exports will continue to dominate the trade sector and generate employment.

After two years of decline Alberta’s labour market experienced a large gain in employment in 2011. With most of the employment growth occurring in full-time positions, housing demand is expected to rise in 2012. Employment growth in 2012 and 2013 will not outpace the rebound year in 2011, but will remain about 2.7 per cent. Alberta’s labour market conditions are expected to tighten over the next two years, lowering the unemployment rate to below 5.0 per cent and lifting wages.

Economic growth, job creation, and low unemployment rates are attracting more migrants to Alberta. Net migration to Alberta is on an upward trend and the 2011 count will approximately double 2010’s total, which was a 15-year low. Over the forecast period, net migration will be close to the ten-year average with about 40,000 people added each year, increasing housing demand for rental and homeownership.

In Detail

Single Starts:

A 24 per cent increase in single-detached starts during 2010 caused inventory levels to trend higher and delay some new construction activity in 2011. Moving forward, demand is expected to improve with continued economic growth and job creation. In 2012, single-detached starts are projected to rise by about 14 per cent to 17,300 units. In 2013, price growth and modestly higher mortgage rates will increase financing costs, thus moderating growth to 4.0 per cent, or 18,000 units.

Multiple Starts:

Multi-family starts will continue to rise over the forecast period. Production in 2012 is projected to increase by about 12 per cent over 2011 activity to 11,800 units. Meanwhile, 2013 is expected to see 12,000 units, which is about double the recent low of nearly 6,000 units in 2009. After a period of dormancy, the high-rise condominium market is beginning to show signs of activity, and this market should improve with lower inventories and the expected economic and demographic growth.

Resales:

Residential MLS® sales in Alberta rose approximately seven per cent in 2011, while new listings decreased by an estimated four per cent. As a result, market balance improved over the course of 2011. Alberta’s positive economic and demographic outlook will result in growing demand for resale homes. In 2012, resale transactions are projected to rise to 54,650 units and then increase by over three per cent to 56,550 in 2013.

Prices:

Most of Alberta’s major resale markets were in buyers’ market conditions through 2011, holding price growth to near one per cent. The notable exception was Wood Buffalo, where the oil sands driven economy boosted the average price by around seven per cent. Over the forecast period, gains in employment and migration are expected to lift demand, improve market balance, and increase Alberta’s average resale price to $363,650 in 2012 and then to $372,300 in 2013.

For the full article click here.

If your thinking about buying a home in the near future now maybe the time, low interest rates combined with predictions of higher prices, make now a great time to buy.

Dave Dry

Realtor, Re/Max Real Estate

Website: www.davedry.com

Blog: blog.davedry.com

Office: (780) 457 3777

Direct: (780) 446 3727

Fax: (780) 478 7017

March newsletter

Friday, March 2nd, 2012

January

Change   

December 2011 to January 2012

  February

Change 

January 2012 to February 2012

New Listings

2,441

1,356

55.5%

2,649

207

7.8%

Active listings

5,303

13

-0.24%

5,976

673

1.2%

Sales

881

54

6.1%

1,231

350

28.4%

Average Sale price

*House and Condo sales

$283,524

-$12,717

-4.2%

$305,120

$21,596

7.1%

House

$352,000

-$12,803

-3.5%

$375,268

$23,268

6.2%

Condo

$215,047

-$12,632

-5.5%

$234,973

$19,926

8.4%

What do these statistics tell us?

 We are off to a good start in 2012.
January was typical, November through February are typically the slower moths
and so was true of this year until the middle of February. In the second week
of February the market suddenly came to life about a month early, with talk of
multiple offers and buyers actively looking to buy. This spurred the market as
we can see from the numbers sales are up 28% from January while the number of
active listings is only up 1.2%. Prices also showed a increase 6.2% in single
family detached homes and 8.4% in condo sales, with an average sale price of
$329,911 for all residential sales. For comparison the average price for
February 2011 was $312,840.

 What does this say for the rest of the year? This could be the beginning of the spring market
which may indicate an early peak, with June or July being the normal yearly
high point in the market. In 2010 prices topped out in March of that year and
slowly declined through the remainder of the year. However I am more of the
belief that we will see a slowing of prices in the next month and prices will
resume a slow and steady climb returning to the normal yearly pricing trends.

 High levels of consumer debt, and concern still swirling about the financial crisis in Europe
and the U.S., will be balanced by low unemployment and above average job creation
in the Edmonton area. Consumer confidence in Canada and more specifically,
Edmonton has continued to grow in the last year, leaving consumers feeling more
confident and secure in making big ticket purchases. So I am predicting a
steadily growing market.

  2012 is looking to be a good year and I stick with my prediction, of December, that we will come close if not surpass the sale prices of 2007.

Making your Real Estate needs my priority!

 Dave Dry

Realtor, Re/Max Real Estate

Website: www.davedry.com

Blog: blog.davedry.com

Office: (780) 457 3777

Direct: (780) 446 3727

Fax: (780) 478 7017

Open house Sunday March 4, 2-4 pm Brigdeport Blvd, Leduc

Friday, March 2nd, 2012

Please join me for an open house from 2-4 pm on Sunday March 4 I look forward to seeing you there.

This truly is a rare find. Penthouse, end unit with a view.

Property details

Making your Real Estate needs my
priority!

 Dave Dry

Realtor, Re/Max Real Estate

Website: www.davedry.com

Blog: blog.davedry.com

Office: (780) 457 3777

Direct: (780) 446 3727

Fax: (780) 478 7017

Open house Ellerslie Saturday March 3, 2-4 pm

Friday, March 2nd, 2012

Please join me for an open house 151 Edwards Drive on Saturday from 2-4 pm Ilook forward to seeing you there.

Ideal for the traveler, need a place to hang your hat between trips.

Property details

Making your Real Estate needs my
priority!

 Dave Dry

Realtor, Re/Max Real Estate

Website: www.davedry.com

Blog: blog.davedry.com

Office: (780) 457 3777

Direct: (780) 446 3727

Fax: (780) 478 7017

11727 127 Street in Inglewood is Sold!

Thursday, March 1st, 2012

Inglewood, Edmonton – The single story at 11727 127 Street has been sold.

Property information

 

Making your Real Estate needs my priority!

Dave Dry

Realtor, Re/Max Real Estate

Website: www.davedry.com

Blog: blog.davedry.com

Office: (780) 457 3777

Direct: (780) 446 3727

Fax: (780) 478 7017

 

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.
MLS® MLS REALTOR® Realtor