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Real Estate Blog

5 home selling mistakes to avoid

Are you planning to put your home up for sale? Selling your home can be a daunting and challenging task. Before you put up the ‘For Sale’ sign beware of the common home selling mistakes that most homeowners and sellers often make.

  1. Neglecting The Repairs Before Marketing

Don't rush the repairs just to save money. The home selling market is extremely competitive, now more than ever. If you want your home to sell your home in the shortest amount of time, you need to create a good first impression. Take the time to repair the leaks, cracks, peeling paint, and other structural, plumbing, or electrical problems.

  1. Pricing The Home Incorrectly

Overpricing or underpricing the house can be one of the biggest home selling

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Fort McMurray Real Estate – Your May Market Update

May has nearly come and gone!  For obvious reasons, we aren’t able to compare activity this month to May last year.  What I can tell you is that sales continue to show signs of strength, possibly gaining in momentum for the next month or so.  Currently there have been 51 firm sales in May with a further 44 conditionally under offer.  These numbers mean that May will almost certainly be the busiest month this year to date.

Average prices are creeping up as they often do during the busy months but they will likely stabilize moving into summer. The pace of new listings remains fairly consistent and using a three month average, our inventory has eight months of supply.  If we see sales

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What is the Fort McMurray real estate market doing in April?

This month, I've broken down the three different segments of the market to include Single Family homes, Mobiles and Condominiums. To access the information you are most interested in, follow the links below:

Single Family

Condominium

Mobile

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What's happening to the mobile home market in Fort McMurray?

The mobile sector is showing signs of improvement from last year but there is still a lot of pressure on the sector.  We have fewer homes on the market this year and sales are definitely higher.  Last February for example, only one mobile sold in comparison to 12 this year.  However, with 83 listings and at the current rate, it would take 10+ months for everything to sell.  Anything above six months is considered a buyers market.  

Conclusion:  An improvement? Absolutely.  But pressure remains and prices will likely continue to reflect the high competition between sellers.  

Buying a home in Fort McMurray?  

Ask us about our Exclusive Buyer Program.  When you work with

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What's happening to the condo market in Fort McMurray?

While 2017 sales have outpaced those in 2016, the condominium market is still lacking activity moving into spring.  Sales increased fairly dramatically in February which could be because of companies buying condos to house their employees for the rebuild.  However, since that time, sales have slowed again.  Average prices crept up in March because of the increased activity in February but it looks as though that will be short lived.

We have 183 listings which is 12% less than last year.  At the current rate of sales and if nothing else were listed, it would take 8 months for everything to sell.  3-6 months is considered a balanced market but we aren't far off that now. This time last year we

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Whats happening to the single family homes in Fort McMurray?

We've seen a 28% increase in sales the first three months of 2017 in comparison to last year and it looks to continue.  We already have 31 firm sales in April which is what we saw in the entire month last year.  On top of that, we have 31 homes currently under offer which means we'll likely break past 60 sales again.  The number of homes on the market has increased from last year by 9% but with the higher number of sales, our months of inventory has fallen from 16 to 8 which is a marked improvement.   

Average listing prices fell to their lowest levels in November and have slowly been creeping up since that point.

Conclusion:  Head and shoulders above 2016.  Improved activity but not to

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Fort McMurray Real Estate Sales - Mid Month Update

Single Family Home Sales

We've got ten days left in March with 42 firm sales already and 19 pending (under offer).  It looks like we are going to get close to March 2015 sales numbers which is great to see.  More interesting than that, we are already at 119 sales for the year.  In 2015 we saw 129 sales over the same period so it looks like the balancing of our market is continuing.  We haven't felt the Spring rush yet but it could be just around the corner!

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Fort McMurray Single Family Real Estate Market

With February at its end, our market is continuing to show a similar trend in comparison to the last two years.  However, sales this month have been slightly better than in the last two years.  More encouraging than that statistic is we currently have 33 homes conditionally under offer. The notion of our market being "flooded" with listings is blown out of proportion as well. There are fewer homes for sale this February than in same month the past two years.  Yet, with sales still being fairly slow, we shouldn't expect to see an increase in single family prices at the moment. 

Single Family Sales

Single Family Active Listings

The affect of the re-build is still the biggest

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Include Your Decision Makers

This is especially important for first time home buyers.  Often, parents or relatives will want to be there for you to help you make your decision and give you advice.  This is fantastic! However, it is important to keep in mind that by the time you have chosen a house, you will know more about the market than most of your support network who may not have bought a house for years.  If your advisors only see the house you have already chosen, they will likely question the decision based on nothing more than wanting the very best for you.  However, their point of view at that time might not be the most realistic.  If you know there will be people helping you make a decision, include them in the whole process so they get

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Well it might not be overly busy at the moment but if you look at the past two years, what you do see is consistency in the Fort McMurray Real Estate market.  Obviously the fire altered timing in 2016 but the general trend is the same. January of 2017 posted six fewer sales than last year but the months leading up to it were busier.  We'll likely see the sales continue at this rate until mid March where things pick up through to June.  If you are looking to sell your home in Fort McMurray, it would be best to capitalize on those busy months.  A mid to late March list date will ensure you capture the activity between April and June.  On the other hand if you are looking to buy, its sometimes best to avoid the busy months as there is more buyer

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