Ben Officer-REALTOR®

From my experience in the Edmonton and St. Albert real estate markets, most buyers know what style of home appeals to their tastes, how large a home they need, and extras like garage, yard etc… If they are coming from outside the area, then the search centers on which neighbourhood fits the bill for them.

One thing you can’t change as a home-owner selling a home, is the neighbourhood you are located in. Often young families buy their first home in a newer area with smaller, affordable houses. They get to own their own home, while keeping their mortgage payments affordable.

Fast forward 4 to 5 years. “June and Ward” now have 2 or 3 children, are making a fair bit more income in the household, and they need a bigger home. Sometimes they choose a newer, larger home or maybe an older home in a mature neighbourhood.

The newer home has its advantages with upkeep and area amenities' while the older homes usually have larger lots, big trees, and nice area parks.

When and where is their next move? Relocated to another city or maybe staying until the kids are grown and move-out? Then it’s likely down-sizing to a condo. Again, who knows?  The skies the limit.

It is often said that Canadians sell and move an average of once every five years.

It’s hard to predict the future, but keeping in mind what your future may hold could help you decide on what kind of home you buy, in a certain neighbourhood, so you can enjoy it for as long as you want without say…out-growing it.

Like you did with that 2-door Mercury Capri that had to go, when the first baby came along. I’ve been there myself.

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Looking at buying your first home? Do you want to work with someone who knows and cares. Give me a call. My family and I are now living in our 5th home (to stay for a long while), and I know what it’s like to

be in your shoes.

I hope you enjoy my blog, and find the different blog posts useful. Please don’t hesitate to post any comments or questions you may have.

Ben Officer, CD   REALTOR®

RE/MAX Real Estate

A group known as Demographia International has released a large study of housing affordability around the world. They make the assertion in the work, that housing density has a large effect on housing affordability.

They took a look at the housing affordability of many real estate markets around the world, and state that Vancouver is the most unaffordable city in the world for the average person/family to purchase a home.

Edmonton is ranked above the median (#19 of Canadian cities – Vancouver is tops at #29, with Calgary at #22) 

Edmonton's average real estate price (all types) was $286,700 with a median income of $70,300.

Calgary’s average real estate price (all types) at $353,900 and median income of $76,500.

Vancouver’s average real estate price was $540,900 and a median income of $58,200. 

You can find the .pdf document of the study at: http://www.demographia.com/dhi.pdf

Taking into account the price of homes and condos in Edmonton and area, with the median household income we have, this makes Edmonton only slightly to somewhat unaffordable. Not a great statistic and definitely something to keep an eye on.

If city planners and city councils use this information in the future to apply to new developments, then they can help to keep housing affordable for those who want and need it.

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Looking to relocate outside the Edmonton, St. Albert area? Just fill-out my “Send Relocation Info” page on RightHouseRightTime.com or BenOfficer.ca and I can get you in touch with a good Realtor in your new area.

Ben Officer, CD   REALTOR®

RE/MAX Real Estate

The lure of getting a good deal on house or condo that is foreclosure is strong. Why not? If you can get a good place for a reduced (read cheap…) price, go for it. There are a number of foreclosure listings in the Edmonton, St. Albert real estate markets.

We’ve seen lots of television reports from the U.S. listing the huge number of foreclosures that are causing a glut on their housing markets in certain areas. Here in Canada the story is quite different. We have a very low percentage of foreclosed properties.

The foreclosure process in Canada can take a long while, from the first missed mortgage payment, all the way to someone buying it from the Bank or Court of Queens Bench etc…

The process is also geared to let the home-owner buy their way out of the problem at any point before it reaches the market as a foreclosure.

Depending on the foreclosed home and who is selling it, you may or may not be able to get it officially inspected by a home inspector, or for that matter to put any conditions on your offer to purchase.

I’ve seen all kinds, from very nice to “holy crap I can smell the inside from the street!” Nasty.

From what I understand, almost all areas in Canada have legislation that generally says that foreclosed homes have to be listed for their approximate market value. That's not to say that you can’t get it a lot cheaper, it just depends on the situation and how much work is required to fix up the property.

Foreclosure listings are an entity unto themselves, so if you have questions please feel free to ask.

-----------------------

You can send your home search criteria (including foreclosure properties) to me through RightHouseRightTime.com or BenOfficer.ca. I can help you find what you are looking for.

Ben Officer, CD   REALTOR®

RE/MAX Real Estate

The Edmonton, St Albert, and area real estate market has seen a bit of an up and down oscillation in 2009. The number of homes for sale (listings) on the MLS went down to 1118 from 1894 in November.

The average price of a single family home decreased by about $2600 and condominiums increased by about $12000. This could be just another seasonal adjustment, with a bit of a change in the homes and condos sold.

The average sale price for a Single family home started out at $352,689 in January, and finished at $366,761. Average Condo sale prices started at $238,535 in January, and finished at $244,174.

On the whole, I think the market still has done much better than a lot of people thought it would in 2009.

Here is the chart comparing the months average prices, for 2009.

The announcement from the REALTORS® Association of Edmonton forecast was  “We anticipate sales of about 21,000 units in 2010

which is up 10.5% from the 19,000 residential properties sold in 2009.”

The market should continue to improve as 2010 carries on, although condos look they will remain flat in pricing this year.

- - - - - - - - - - - - - - - - - - - - - - - - - - -

If you would like to find out what homes are selling for in your neighbourhood, just go to www.BenOfficer.ca and click on the “Market Snap-Shot” tab.

Fill-in the info and you will get the report. Tooooo easy.

Ben Officer, CD   REALTOR®

RE/MAX Real Estate

Members of the Canadian Forces and the RCMP are relocated within Canada and sometimes outside of Canada. If they own their own home or condo, they usually select a REALTOR® to list and sell their home.

As an ex-Canadian Forces member I have been through the process several times while I was serving. Now as an Edmonton and St. Albert real estate agent,  I can assist them to get their home sold and to find a reputable Realtor in their new location.

Normally, when they go to their new location to look for a home to purchase they have an abbreviated time (5 to 7 days) to find a home. These are known as House Hunting Trips or HHTs.

During the HHT they have to find a home, offer on the home, get a home inspection, and try to get as much done before they have to return to their old home. Busy for them and for their agent????  You better believe it.

The process of selling your existing home then finding a home in a new city and often a different province requires hard-work. Sometimes this involves making some tough choices for the RCMP or Military member and their families. I am one of the professionals that they can utilize to help them with their moves.

------------------

Please refer to my HHT and Relocation pages on RightHouseRightTime.com and BenOfficer.ca  for more information or to get me working for you.

Ben Officer, CD   REALTOR®

RE/MAX Real Estate

The REALTORS® Community Foundation with REALTORS® and Friends are proud to announce the RIDE For KIDS is continuing again for 2010.

I am co-chairing the ride this year with Dave Schroeder, plus with the assistance of quite a few people I will name in future blog posts.

PointeWest Honda Powerhouse in Edmonton and Honda Canada have very generously donated a Honda VTX1300 motorcycle  to be the 1st Prize in our raffle this year.

Again this year, we will be raising money to support E4C Edmonton School Lunch Program and the Youth Emergency Shelter Society (YESS).

We will be out showing off the motorcycle raffle prize at the Edmonton Motorcycle Show Jan 15th – 17th, plus at Castrol Park raceway and hopefully other events.

If you are interested in going on the ride, it’s tentatively slated to go19, 20, 21, 22 August, 2010. If not, then please pledge to riders on the ride.

----------------

Ben Officer, CD   REALTOR®

RE/MAX Real Estate

Some of the aspects of my profession as a real estate agent, are to represent my clients best interests, to carry out their lawful instructions, and to work to get them the best price.

The art of negotiation is very often required to successfully bring two parties to an agreement.

Now, during the negotiation process its not necessarily just the price that’s negotiated. It can be the possession date, the deposit, the terms, or the conditions. All aspects of the transaction could be subject to negotiation.

As a Realtor, I believe our clients benefit from our experience while we take a lot of the emotion out of the negotiation, and that is a good thing. If we help the buyers and sellers to reach a mutually acceptable agreement then both sides can feel well served.

It is often said that “3rd party negotiation saves money”. This means that having a professional Realtor, like me, negotiating for you, can save you money as opposed to you negotiating with the other person yourself.

-----------------------------

If you are thinking of selling your home yourself, please have a look at the information on either of my websites -  RightHouseRightTime.com or BenOfficer.ca. It will help you to get a feel for just how much service I put into listing and selling your home or condo.

Ben Officer, CD REALTOR®

RE/MAX Real Estate

You see the ads on Kijiji and in small papers saying they will buy your house for cash, any condition, and quick possession. No Realtor required.

You say “What is this about?”  Very straight-forward actually. They are almost always investors.

What they are offering is a fast, fairly hassle-free way to sell your home.

Is there a catch, you say? Well  …. sort of. The price they will probably offer you is around 15 to 30 % below the actual market value for your home.

They have to build-in a profit margin for themselves, to be able to offer this to home-sellers. As with anything in life, if there is need then there will be someone to fill it.

Now who would look at selling their house through an investor like this? Maybe someone behind on their mortgage payments and they need to sell to beat foreclosure? Or someone who just has to sell fast and can’t wait for it to be listed and sold by a real estate agent.

No matter the situation, the homeowner should still get an appraisal done to establish the value of their home and also use their own lawyer to protect their interests.

Also, like any transaction…. read the fine print and ask lots of questions up front.

Investors can help someone out of a tough situation, when needed.

-----------------

Also, don’t forget to check out the listings search pages on RightHouseRightTime.com or BenOfficer.ca. If you sign-up for the extra info, I won’t bug you.

Ben Officer, CD   REALTOR

RE/MAX Real Estate

I’m going on a scuba-diving trip soon to Florida and I just don’t know what to do!  I’m a full-service Realtor and I want to be able to answer my Blackberry, whenever I need to.

Do they make a water-proof Blackberry Storm? Good to 100 feet?

Maybe they have a blue-tooth device for doing that?  Will the blue-tooth attract sharks?????

Help me, please…….

         Ben

Happy New Year and Welcome to 2010!!! I hope everyone had a good holiday season.

I used to be someone who didn’t worry about getting a permit from the city for new installations in my home. I am fussy about it being done right and I figured I didn’t need to spend the time, effort, and money when I knew it was done safely.

I was wrong for a few reasons.

The requirement to get permits not only protects you but it also protects others who come into your home, and subsequent owners of your home. Is this important you say? You betcha!

For example, a home I had in North Edmonton didn’t have any power to the detached garage when I bought it, so I had a licensed electrician come in and do it (to a higher standard than what the building code requires). He said don’t bother with a permit. Well, a while later I decided it’s best I should get a permit. The inspector from the city was, quite rightly, not very happy everything was done and buried. Also, the permit cost me twice as much, as a just punishment for not doing it in the first place. Lesson learned.

Here are a few more reasons to get the permit first:

- a friend of mine is have a problem with his insurance company not paying for water-damage from a burst pipe in his fully-finished basement. They say the work was not permitted by the City of Edmonton, so they aren't going to pay!

- permits help to ensure the work is done to a safe and acceptable standard for everyone’s safety.

- permits are kept on file with the city, so if there are any future questions about them you can consult the city planning and development office to see what permits were taken out.

Information on Permits can be found at:

For the City of Edmonton,  you can go to: http://www.edmonton.ca/bylaws_licences/licences-permits.aspx

For the City of St. Albert you can go to: http://www.stalbert.ca/development-permits

In my opinion, getting the permit for whatever work you are doing or having done, just makes sense. Please do the research on what permits are required, before you start the work.

If you have any comments or input, please feel free to comment.

Ben Officer, CD   REALTOR®

RE/MAX Real Estate