The Future of Real Estate: How Technology is Changing the Industry

The Real estate industry is always evolving. From the Cave Men building temporary shelters to the first recorded use of the term “Real Estate” in the 1660s to the first mortgage being issued in 1781 to the first informal association of local real estate agents in 1880 and now we find technology is playing a big role in shaping the future. From virtual tours to online transactions, technology is making it easier for buyers and sellers to connect and conduct business. In this post, we’ll take a look at how technology is revolutionizing the real estate industry, and what that means for agents, buyers, and sellers. From AI-based chatbots to virtual reality, we’ll explore the latest trends and innovations that are changing the way we buy and sell homes.…

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ForSaleByOwner: Everything You Need To Know

For Sale By Owner: Everything You Need To Know

The last ten years have seen a sharp rise in the number of homeowners choosing to sell their property as part of the FSBO (For Sale By Owner) movement rather than listing with a traditional REALTOR® and/or real estate company to sell your home. Enticed by the premise of pocketing more money from the sale of their home rather than paying out commission to a REALTOR®, many homeowners find they’ve bitten off more than they can chew when it comes to selling their property.

Why is that?

Simply put, selling a home takes a lot of time and effort. Although FSBO is not an impossible path by any means, there are a number of key points to keep in mind before choosing to oversee the sale of your home.

Not…

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6 Tricks for Making Lawn Care Easier

Keeping your lawn, flowerbeds, and shrubs looking great enhances the “curb appeal” of your property. However, it can also be a lot of work! Here are some do-it-yourself tips for making these tasks easier and less time-consuming:

• Add mulch around trees and shrubs. That way, you won’t have to cut grass in those areas, plus you’ll avoid the need to use shears or a trimmer to do the job properly.

• Adjust lawnmower blades to the optimal height for short, well-groomed grass. That way, you won’t have to mow as often.

• Use tools that don’t require you to bend over or work on your knees. That will greatly reduce fatigue. (Example: Stand-up grass shears.)

• Consider applying mulch in flower beds. That will reduce weeds. It will also help retain…

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When to Consider Buying a “Diamond in the Rough”

Let’s face it. When you visit a home during a scheduled viewing or open house, you usually see it at its best. The rooms are tidy. The sinks are clean. The closets are organized and uncluttered. Even the lighting is set to its brightest.

That’s just good old-fashioned marketing.

However, not every house you see will look this way. For many reasons, a house on the market may be less than tidy, poorly decorated, and even need minor repairs. You may open the front door in anticipation, only to be immediately turned off by stains on the carpets, faded paint on the walls, cluttered hallways, and more.

First impressions form quickly. It’s easy to make quick judgments and move on. But, you may be passing on what could be a dream home. Don’t make…

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Things to Consider When Choosing a Neighbourhood

When you are looking for a new neighbourhood to move into, there are a lot of factors to consider. You can renovate and make changes to a home, but one thing you'll never be able to change is the location!

Here are some things to think about before choosing a neighbourhood:

1. Neighborhood safety: Check criminal reports, look at crime rates, converse with the neighbours, visit the neighbourhood at night, and ensure the streets are well-lit. Would you feel safe walking around the neighbourhood alone?

2. School district: If you have kids or plan on having kids in the future, living in a reputable school district is critical to giving your children a good education. Even homebuyers who don't have kids can benefit from living in a good school…

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Bank of Canada Maintains Overnight Rate

The Bank of Canada once again decided to maintain its target for the overnight lending rate at 4.5% while continuing its policy of quantitative tightening.

The Bank indicated that global economic growth has been stronger than expected but will weaken due to tightening monetary policy in many countries. The Bank made special note of an expected slowdown in US sectors that will have an impact on Canadian exports.

According to the Bank, first quarter economic growth in Canada exceeded expectations, adding that labour shortages are starting to ease due to strong population growth. The Bank noted that housing activity remains subdued and consumer spending is expected to moderate as more households renew their mortgage at higher rates. The Bank…

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Home Buying Timeline

Buying a home is no easy feat, but knowing what to expect and preparing for the journey ahead is key to a successful home-buying experience! On average, it takes 3-4 months to shop for a home and 30-60 days to close on your property once you're under contract.

There are a lot of variables that go into buying a house that could make things move faster or slower. The timeline differs for each individual and depends on the housing marketing, inventory, time of year, your financing needs, and the kind of home you're looking for.

Here's a generic outline of the buying process from beginning to end (with the average amount of time each step takes) so you can get an idea of what to expect when buying a home!

1. Find a…

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6 Common Reasons Why Sellers Reject Purchase Offers

When you make an offer on the home of your dreams, the last thing you want is to receive a rejection letter. Rejection is never easy and can be extremely discouraging, especially for first-time homebuyers. You might wonder what went wrong and what you could've done differently.

There are several reasons why a seller might reject an offer, but it's helpful for buyers to know the most common reasons to avoid losing out on the home of their dreams.

 Here are 6 common reasons a seller may reject your offer:

1. Your offer was lower than the asking price, and the sellers want more for their home (there's also a chance they felt offended or insulted by your lowball offer).

2. You didn't submit a pre-approval or pre-qualification letter with your…

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March 2023 Edmonton Market Update: "Spring Market Has Sprung As Edmonton Sees Month-Over-Month Growth"

Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for March 2023 decreased by 44.6% compared to March 2022 but saw an increase of 42.1% from February 2023. New residential listings were down 22% year-over-year from March 2022 while also noting an increase of 32.3% from February 2023. Overall inventory in the GEA was up 22.1% from March of last year and up 11.8% from the previous month.

For March, detached unit sales were down 47.5% from March 2022 but saw an increase of 48.4% from February 2023 at 1076. Semi-detached unit sales were down 58.2% year-over-year but increased by 20.7% from February 2023. Row/Townhouse unit sales decreased 45% year-over-year and increased 49.2% month-over-month. Apartment Condominium…

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What Makes a Home Move-in Ready?

When buying a house, you'll likely hear the phrase "move-in ready" to describe a property. What does it mean?

When a house is described as "move-in ready," it means that it is in a condition ready for someone to move in and start living immediately. The term offers that the home is up to code, in good condition, and free from needing significant repairs or renovations before moving into it comfortably.

The definition of "move-in ready" varies from person to person, depending on their needs and preferences. For some, "move-in ready" might just mean that all the appliances work; for others, it means a fully renovated home with current paint colours and updated light fixtures.

Here are some of the common characteristics you can expect to find in…

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