Ben Officer-REALTOR®

A friend of mine and his wife are well into the development of a new country residential acreage subdivision.

It is over 150 acres of rolling, treed land located about a 12 to 15 minute drive west of St Albert.

You might not see any new country acreages like this around Edmonton and St Albert in the future, because the Capital Region Board (and its member municipalities) are putting restrictions on these developments. (See my blog post from Nov 20, 2009)

 Victorian Ridge Subdivision Plan.pdf     and   Victorian Ridge Lot Pricing.pdf

The website for this development is: http://www.VictorianRidge.com

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If you are interested in acreages in the area around Edmonton and St Albert, please give me a call.

Ben Officer, CD   REALTOR®

RE/MAX Real Estate

As a kid growing up in southern Ontario, we used to go out to a farm near Winterbourne, Ont to cut a Christmas tree each year. It was an enjoyable outing.

Then along came a busy life, artificial Christmas trees that look ….okay, and are easy (mostly) to put up and take down. Although, I’ve heard that they are not very environmentally friendly.

Fast forward to current times. Christmas tree lots sell pre-cut trees that are easy to buy, already cut and wrapped, ready to take home. Nothing wrong with them. They also help to raise money for some worth-while organizations in Edmonton and St. Albert.

I still like to go out as a family (okay our 15 year old was working at McDonalds so she couldn’t make it) to cut a nice Balsam Fir at Gunlor Pines Tree Farm, northwest of St. Albert.

The weather was quite nice this year. Last year, it was about –30 C when we went there. Brrrrr.  My wife Lisa and daughter Natalie are posing with the tree, which is in a sleigh named Comet.

A fresh cut tree smells nice and it is a welcome addition to our Christmas.

For more info and the location of Gunlor Pines, you can call them at 780-489-6508.

Have a great Holiday season, from my family to yours!

Ben Officer, CD   REALTOR®

RE/MAX Real Estate

This reminded me about home-sellers that ask me about what renovations they can do to make their homes more saleable.

Remember these lovely, trendy home items from days gone by…

The green toilet.       Oh wait, the 70’s called and they are looking for your shag carpet!

These are just a few suggestions to consider when you look at possible renovations. Any way you slice it, your home is for you to enjoy.

Any other thoughts or comments on home renos you can add?    Please do!

Ben Officer, CD   REALTOR®

RE/MAX Real Estate (Edmonton)

The idea for this blog post came to me while I was meeting with a tenant of mine. He keeps the condo clean, pays his rent on time,

and lets me know if he has any problems.

In turn, I put good quality amenities in his condo, treat him with respect, and gave him a Christmas gift.

It’s not just treating people nicely, it’s understanding that they are helping you to pay your mortgage and your bills.

That said, you also need to be firm about rent being paid on time. You have bills to pay and so does the tenant.

If you provide a decent place to stay, they need to know that you need the rent on time.

Items to get from a prospective tenant are:

1.  Ask for and check the references provided by a prospective tenant,

2.  Have a lease so everyone has a written agreement of the rent and terms,

3.  A 1 month rent security deposit,

4.  A move in/out inspection report completed for wear and tear and/or damage to the rental unit.

Also, make yourself familiar with the Landlord and Tenant regulations for your area. All these items will go far to reducing conflicts over the term of the lease.

If you are thinking of buying a revenue property, getting and keeping good tenants is very important.

Please feel free to comment on this blog post or to ask any questions.

Ben Officer, CD   REALTOR®

RE/MAX Real Estate (Edmonton)

I am behind in keeping up with my blog and with the release of the the November stats by the REALTORS® Association of Edmonton.

Yes, November was a busy month for MLS real estate listings and transaction in Edmonton, St. Albert and area.

There were 1894 residential listings, with 1261 residential sales. This compares the Nov/08 at 2036 residential listings and only 891 sales. A marked increase this year.

The average days on market for a home or condo was 48 days and the List to Sales ratio was 62.

Now, the average prices for a single family residence was $368,018, a slight up-tick from October. For condominiums it was $231,684, a drop of about $6000 from October.

Here is the price comparison chart for 2009, so far.

Condominiums will continue to be price volatile for awhile because of the increasing amount of new units being completed. This is going to probably push prices down even more. I’ve been talking to some apartment condo owners who bought in the last few years, and had to be honest and tell them that to sell now would mean a substantial loss compared to when they bought it.

Also, there are still quite a few buyers looking to purchase while the rates are low. This is one of the reasons why I have been busy for the first half of December. Although, now that the cold and snow are here it could make everyone think Ho Ho Ho, instead of Home, Home, Home.

I always welcome comments on this or any other blog posts. Your input is appreciated.

Drive safe and stay warm.

Ben Officer, CD   REALTOR®

RE/MAX Real Estate

You see a home listed for sale on the market that you like. Should you buy it?

Before you make an offer, it’s a good idea to get a sense of the property’s long-term potential. After all, in terms of Edmonton real estate and St Albert real estate, 

a property is not just a potential home, it’s also an important investment.

Here are some things to look for when viewing homes on the market:

· Is the area’s average income increasing? (The more affluent a neighbourhood becomes, the higher the property values.)

· Are employment opportunities growing nearby? (If jobs are leaving the area, housing prices will likely decline.)

· Are there any nearby housing or community developments that will enhance the quality of life in the area?

(If a park with a quiet walking trail, or a prestigious golf course, is being built nearby, the value of the neighbourhood will increase.)

· Is the crime rate on the rise or decline? (This can have a significant impact on future property values.)

· Are there public transit lines located nearby? (Studies show that housing prices increase in areas where public transit is close and convenient.)

· Is the property located in a neighbourhood dominated by higher priced homes?

· Does the property have features that will always be valued by home buyers, such as a large kitchen, spacious backyard, and professionally finished basement?

· Are there short-term negatives about the area that will eventually disappear, such as loud construction projects? (Once those negatives are gone, house prices will often jump.)

Need help to find the right home? Call me to-day.

Ben Officer, CD  REALTOR®

RE/MAX Real Estate

December 3, 2009

Kelowna, BC (December 3, 2009) -- In the midst of one of the most tumultuous economic periods in recent history, residential real estate has proven to be a safe harbour, with sales and average price expected to post gains in most major Canadian cities in 2009, according to a report released today by RE/MAX.

The RE/MAX Housing Market Outlook for 2010 examined residential real estate trends in 23 markets. The report found that sales are forecast to recover in almost all major centres by year-end 2009, led by an anticipated 45 per cent increase in Greater Vancouver. Two markets --Ottawa and Quebec City -- are expected to hit historic highs in the number of homes sold. Average price should post new records in 65 per cent of markets surveyed this year. As economic performance ramps up across the country, so too will residential real estate. Eighty-three per cent of markets (19/23) are expecting sales to increase over 2009 levels while housing values are forecast to escalate in 91 per cent (21/23) of Canadian centres in 2010. The remaining markets will match 2009 levels.

Approximately 465,000 homes are expected to change hands nationally in 2009, a seven per cent increase over one year ago. Canadian housing values are forecast to close the year at $318,000, up five per cent from $303,594 in 2008. By year-end 2010, the number of homes sold is predicted to climb another two per cent to 475,000 units. The average price of a home is also expected to experience an uptick, rising two per cent to $325,000 – the highest level in Canadian history.

“Some of the greatest percentage gains were reported in Western Canadian markets in 2009– demonstrating the higher the peak, the lower the valley,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western, Canada. “That said, the recession barely registered on year-over-year activity in most major centres. The economic fundamentals in place going forward ideally position the ten provinces, and the sector overall, for further growth.”

The upswing in residential housing values speaks volumes. By year-end 2009, average price is expected to increase in 15 of the 23 markets surveyed, led by St. John’s, NF (15 per cent); Quebec City, QC (eight per cent); Regina, SK (seven per cent); Saint John, NB (six per cent); and Winnipeg, MB, Ottawa, ON, and Greater Toronto, ON (five per cent). Other noteworthy developments include shattered price benchmarks in Greater Vancouver at $600,000; Toronto at $400,000; Ottawa at $300,000; and Quebec City and St. John’s at $200,000. St. John’s will once again lead the country in terms of percentage increase in average price in 2010 with a projected upswing of 11 per cent. Quebec City and Regina are expected to experience escalation of six per cent, while Calgary, Kelowna, and Victoria are forecast to climb five per cent next year. Victoria, Kelowna, Edmonton and Calgary – all down marginally in 2009 – are all positioned for growth in 2010.

“2009 was without question the year of the house,” says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. “Real estate not only defied industry and analysts’ predictions in 2009 -- it’s performance went well beyond the realm of expectation by boosting consumer confidence levels and ultimately kick starting the national economic engine. While low interest rates were a principle factor driving home buying activity, no one can discount the value that Canadians place in owning a home.”

The major frontrunners in terms of unit sales appreciation in 2010, are all located in Western Canada, including Kelowna with an anticipated upswing of 10 per cent in housing sales; Calgary with an expected increase of eight per cent: and Victoria, which rounds out the top three with a seven per cent hike forecast for unit sales.

“Canadians continue to demonstrate their commitment to homeownership – regardless of the economic climate,” says Sylvain Dansereau, Executive Vice President, RE/MAX Quebec. “No where in Canada is that more evident than in Quebec. The province, with one of highest percentage of renters in the country, is well-poised for an escalation in homeownership levels as renters enter the market en masse to take advantage of ideal market conditions. Prices remain well under the national average, making ownership more attainable and leaving more room for appreciation that’s been long overdue.”

A number of factors will help prop up activity going forward, including improved economic conditions, continued low interest rates, rising consumer confidence and solid capital spending which will buoy employment. Inventory will once again assume the wildcard role, with any decline placing upward pressure on prices. Multiple offers will remain the exception in most markets, more commonplace on quality entry-level product which remains in tight supply.

RE/MAX is Canada’s leading real estate organization with over 17,000 sales associates situated throughout its more than 677 independently-owned and operated offices across the country. The RE/MAX franchise network, now in its 36^th year, is a global real estate system operating in more than 70 countries. Over 6,700 independently-owned offices engage nearly 100,000 member sales associates who lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral, and asset management. For more information, visit: www.remax.ca.

Video message from Elton Ash, Regional Executive Vice President

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Ben Officer, CD   REALTOR®

RE/MAX Real Estate (Edmonton)

Title and Mortgage Fraud  (From the Consumers Council Of Canada)

-Scotiabank's Advice on Title Fraud Protection

Title and Mortgage Fraud is a growing threat to the financial security of Canadian Consumers.  The Consumers Council of Canada agrees that the fraud victim is doubly victimized by having to fight the lending institutions who granted the mortgage and the legal system to restore title.

Consumers must be diligent in protecting their financial and other personal information whose theft, most often, is the contributing factor in the theft of their identity and fraud of this nature.

Awareness of the factors contributing to identity theft need to be understood.  Measures to protect oneself are simple and the Consumers Council recommends all make use of the information available at their local financial institutions and on the internet. 

One of the most useful sites is:  http://www.protectyourtitle.com     Take a look.

Governments can also play a role in reducing consumer victimization. 

In Ontario, legislation has been passed to strengthen consumer protection, enhance the delivery of public services and modernize government in preparation for the future challenges and opportunities of the 21st century.

The new legislation addresses Real Estate Fraud by:

   a. Ensuring that ownership of a property cannot be lost as a result of the registration of a falsified mortgage, fraudulent sale or a counterfeit power of attorney;

   b. Implementing a streamlined and expedited Land Titles Assurance Fund process for individuals who are victims of fraud so that title is returned and a decision on compensation is made within 90 days;

   c.. Introducing additional safeguards for suspending and revoking the accounts of fraudsters so that they cannot register documents, and

   d.. Raising existing fines for real estate fraud related offences to $50,000 from $1,000.

The Province of Alberta has more info about how to spot and prevent Mortgage Fraud.

The website is:  http://www.servicealberta.gov.ab.ca/895.cfm

Ben Officer, CD   REALTOR®

RE/MAX Real Estate