Monthly Market Stats

Valentine's Desserts to Wow Your Honey

Black History Month

Edmonton's 2021 Housing Forecast

Here are the predictions for real estate trends in the upcoming year


2021 Price Trends

Single Family Homes expected to drop by 0.8% to $426,000.

Condominiums expected to drop by 1.2% to $220,000.

Duplexes expected to drop by 0.8% to $330,000.


Inventory

Single Family Listings expected to drop by 0.5% to 17,000 units.

Condominiums Listings expected to drop by 2.2% to 9060 units.

Duplexes expected to drop by 0.8% to 3050 units.


Sales

Single Family Sales expected to drop by 4.7% to 10,300 units.

Condominiums Sales expected to drop by 4.6% to 3640 units.

Duplexes Sales to drop by 2.4% to 2000 units.

Here are some of the #1s from last year

Take a look at some of the best of the best of 2020. Did they make your list?

Top Google Searches

- US Election

- Coronavirus

- Kobe Bryant

Top Song on BIllboard Charts

- Blinding Lights by the Weekend

Top Selling Album of 2020

- Folklore by Taylor Swift

New York TImes Best Selling Book

- A Promised Land by Barack Obama

Time Magazine's Person of the Year

- Joe Biden and Kamala Harris

Most Watched YouTube Video

- Baby Shark Dance

Richest Person of 2020

- Elon R. Musk

Top Movie According to Rotten Tomatoes

- Miss Juneteenth

Mill Creek Ravine Home Up For Auction

Starting at just $4.6 million, this 5500 sqft 6 bed / 6 bath home could be all yours!

A luxury home in Edmonton that caused controversy during its development three years ago is now up for auction. Construction of this 5,500-square foot house nestled in Mill Creek Ravine faced backlash during its approval phase in early 2018. Many residents felt it was much too large for being in the middle of our city's beautiful parkland.


The four-level house includes a tube elevator, curved staircase, smart lighting, EV vehicle charging in the garage, and a rooftop patio with views of the ravine. It is listed for $7.4 million online with a $4.6 million auction reserve, or minimum acceptable bid. A $100,000-bidder deposit is also required. The auction is slated to end December 18.


Click here for more photos and auction information.

Just a Little Announcement

As some of you may know, I took a little time off to welcome our new family member into the world. On August 3rd, my son Miniki Andrew Wormsbecker was born, at a happy and healthy 8lbs and 13oz. A huge thank you to my business partner, Jennifer Pretty for filling in for me for a few weeks and to my clients for their patience as I waddled my way up and down stairs during home showings and inspections over the last few months.


With the fall market just around the corner, I am back to work and available for all your real estate needs. So please do not hesitate to contact me if you or your loved ones are thinking of buying or selling.

See Connor McDavid's Sleek & Modern YEG Home


This 8000 sqft mansion is definitely a head turner but we would expect no less from the captain of the Edmonton Oilers, especially since his long time girlfriend, Lauren Kyle is an interior designer with Kyle & Co. A kitchen with an Italian Calacutta porcelain island, a glass wine-bar wall, an indoor sports court, and an elevator to the heated balcony equipped with hot tub, swing, and gorgeous views are just some of the show stoppers. But gasp... no hockey memorabilia?!?! One of the things we love about Connor is his modesty when it comes to the sport. For more photos and the full story check out: EDify Magazine

How Covid-19 Affected Sales & Showings

How the pandemic affected home sales & showings compared to 2019

Looking to Buy a Mansion?

The historic Magrath Estate on Ada Boulevard in Highlands hits the market for $5.25M.

The estate known locally as the Magrath Mansion officially went on the market Tuesday, with an asking price of $5.25 million. Built in 1912 and sitting on five city lots overlooking the North Saskatchewan River valley, the house is the “BEST KNOWN and MOST historically important home in the Highlands,” the listing said. Located on Ada Boulevard northeast of downtown Edmonton, the house was designated a Provincial Historic Resource in 1975, according to the Alberta Register of Historic Places. The house features six bedrooms, five bathrooms, and five gas fireplaces.

The full listing can be viewed here. The 2017 tour given to CTV News Edmonton is available here.

Alberta Rolls Out Relaunch Plan

Mortgage Deferrals

Let's talk about mortgage deferrals and how this program works. ⠀

⠀🔹𝙄𝙨 𝙢𝙮 𝙢𝙤𝙧𝙩𝙜𝙖𝙜𝙚 𝙥𝙖𝙮𝙢𝙚𝙣𝙩 𝙛𝙤𝙧𝙜𝙞𝙫𝙚𝙣 𝙞𝙛 𝙄 𝙖𝙢 𝙜𝙧𝙖𝙣𝙩𝙚𝙙 𝙖 𝙙𝙚𝙛𝙚𝙧𝙧𝙖𝙡?⠀

No, this is not a forgiven payment, you are still responsible for the unpaid amount. The mortgage deferral does not cancel, erase or eliminate the amount owed. Depending on your lender, they will provide a solution geared towards your specific situation and the lender's discretion. ⠀

⠀🔹𝙃𝙤𝙬 𝙙𝙤𝙚𝙨 𝙞𝙩 𝙬𝙤𝙧𝙠?⠀

A mortgage payment deferral means that you will not be required to make regular payments on your mortgage (the lender must approve you for the deferral). Some lenders allow principle + interest portions to be deferred while others are including property tax and/or insurance payments. You will need to speak to your lender directly to find out what options are available to you.⠀

The deferred payments are added to the balance of the mortgage which may extend your amortization and amount owing. You will pay more in interest over the life of your mortgage, but a deferral will also help you with short term cash flow.⠀

🔹𝙄 𝙖𝙢 𝙬𝙤𝙧𝙧𝙞𝙚𝙙, 𝙨𝙝𝙤𝙪𝙡𝙙 𝙄 𝙘𝙖𝙡𝙡 𝙢𝙮 𝙡𝙚𝙣𝙙𝙚𝙧?⠀While you may be worried, the deferral of mortgage payments are intended for people that are experiencing financial distress as a result of job loss, lay off or reduced hours. Lenders will look at the request on a case-by-case basis.⠀

Please be patient. Lenders are extremely overwhelmed with phone calls and doing their best to service everyone. Many have now created online application forms or access through your online banking. ⠀

If you have any other questions, don't hesitate to reach out to me.

Stress Test

Keep watching the news for updates on Canada’s mortgage regulations.

On February 18, Bill Morneau, Canada’s Minister of Finance, unveiled changes to the “stress test” that are scheduled to come into effect on April 6. “The new benchmark rate will be the weekly median 5-year fixed insured mortgage rate from mortgage insurance applications, plus 2%,” he announced.

Simply put, that’s the calculation used to determine what you qualify to borrow. Industry experts had recently suggested the “stress test rate” be adjusted to make it easier for people qualifying for mortgages. The Canadian government heard them and acted on their recommendations. The basic idea behind the stress test? Even if interest rates rise or you run into financial difficulties, you’re approved for an amount you’d still have a good shot at paying back.

March's Real Estate News Feed

Hydro and Indoor Gardens

Get your green thumb going even before all that snow melts

Whether you enjoy cannabis or not, its legalization in Canada has brought some great, new products to the marketplace. You can now buy hydrogardens, for example. They let you grow plants indoors, in a water solution with air bubbles and nutrients but no soil! The roots dangle in the water.

Available for retail purchase through many home improvement retailers, these small, hard-working systems can help you produce healthy, organic lettuce and other veggies and herbs year-round in your kitchen!

Or, if you’d prefer, watch beautiful flowers bloom inside your rooms while the Spring snow continues to fly outside the window.

February's Real Estate News Feed

Canada’s hot apartment sector: Building boom, rising rents – Real Estate News Exchange

Stress test ‘killed’ Edmonton housing market: realtors association – Edmonton Journal

$30M redevelopment for Manulife Place in Edmonton – Real Estate News Exchange

Developer offers $125,000 to best business pitch for Stadium Yards – Edmonton Journal

How does the housing forecast look for 2020? Based on what economists and leading industry experts are predicting, we should see slight growth in the upcoming year. Although oil prices are not foreseen to go up, investments and exports should drive up the GDP. With less housing starts and interest rates not expected to rise much, Edmonton’s housing market should see a “modest” boost. Lower inventory, rising sales and quarter-over-quarter price stability indicate positive times to come.

Prediction of Home Sales:

Single family homes ^ 0.4%

Condominiums ^ 0.2%

Duplexes ^ 0.2%

Prediction of Average Sale Price:

Single family homes ^ 0.6%

Condominiums ^ 0.6%

Duplexes ^ 1.4%

Some experts believe that 2019 was the bottom of a cyclical market which means it is still a great time to buy. But remember that the right price, good advertising and beautiful staging can all help to ensure you can still sell fast for a good price… regardless of what the stats might be saying!

Here are some of the #1s of Last Year

Highest Grossing Movie

- Avengers End Game - Grossed 858 million domestically & 2.8 billion internationally

Best Selling Book

- Where the Crawdads Sing by Delia Owens - According to online sales

- Becoming by Michelle Obama - A close 2nd place

#1 Selling Album of 2019

- Map of the Soul: Persona by BTS

#1 Single of 2019

- Bad Guy by Billie Eilish

Top Country to Live In

- Switzerland - for the 3rd year in a row

Most Visited City

- Bangkok, Thailand - with 22.78 million vistors

Person of the Year

- Greta Thunberg - biggest influencer according to Time Magazine

Fastest Viral Video

- BTS (Boy With Luv) feat. Halsey

Richest Person of 2019

- Jeff Bezos - Founder and President of Amazon worth $113 billion

#1 Oldest Person

- Gustav Geneth of Germany - Lived till the age of the 114 years old till he died in October.

- Chitetsu Watanabe of Japan - Now the oldest at age 112

Best Places in the City to Watch the NYE Fireworks

The best place to see the firework’s display in Edmonton is at the province’s iconic building: the Legislature. There will be lots of family-friendly activities in the evening, followed by the bright lights starting at 9 PM

Details:

Federal Building

9820 107 St., and Capital Plaza

6:00 PM – 9:00 PM

Fireworks: 9:00 PM

And if the government building isn’t your place to be, try these options instead:

Telus World of Science Edmonton

11211 142 St.

9:00 PM – 6:00 PM, Monday and Tuesday

Haddow Park

2099 Haddow Drive

5:00 PM – 8:30 PM, Monday

Fireworks at 8:00 PM

Some of the surrounding areas are also hosting their own local displays including:

Heritage Park

5100 41 Ave., Stony Plain

6:00 PM – 9:00 PM, Monday

Fireworks at 8:45 PM

Broadmoor Lake Park

2015 Oak St., Sherwood Park

4:00 PM – 8:00 PM, Monday

Fireworks at 8:00 PM

Looking to Give Back For the Holidays?

Get into the spirit of sharing and caring this Christmas. Here are some ways to help.

The Christmas Bureau of Edmonton - Volunteer or Donate

Adopt-A-Teen Edmonton - Donate or Fundraise

Santas Anonymous - Be a Driver on Delivery Day or Toy Drop Off Locations

Hope Mission - Donate or Volunteer

Mustard Seed - Donate or Volunteer

Top Luxury Neighbourhorhoods in Edmonton

When you think luxury property, what comes to mind?

  • IMAX home theatres

  • Superspa home gyms

  • Fleets of supercars and other premium vehicles

  • Showroom-style, glass-walled, multi-level, multi-car garages

  • Indoor/outdoor infinity pools with waterfalls and waterslides

  • Boutique-style walk-in closets that double as fashion party venues

  • Every type of specialty bar (from Irish Pub to Health Bar)

  • Park-like landscaping with high-end outdoor sound systems and lighting

  • Outdoor kitchens (with seasonal covers) featuring world class grilling equipment

  • Pool halls with arcades and DJ booths

  • State-of-the-art smart home operating and security systems

  • Top-of-the-line weather-proof doors and windows with adjustable tints

  • Elevators with panoramic views

In Edmonton, luxury real estate often means historical as well as modern mansions on expansive properties with views of the downtown city skyline, the North Saskatchewan River or the river valley’s parkland, which, stretching for 25 km is the longest area of connected parks in North America.


The luxury category here (depending on who you ask, of course) starts at approximately $1 Million. Some of the highest-priced real estate to be found in Edmonton is in the neighbourhoods of Westridge (average active listing price of $3,650,000); Wedgewood Heights ($3,465,580); Brander Gardens ($3,429,333); Richford ($3,250,000) and Windsor Park ($2,301,273).


Also popular in Edmonton at the moment, as far as luxury features go:

  • Soaring ceilings and state-of-the-art skylights

  • Beautiful, open (and sometimes flexible) floorplans

  • Massive, high-end windows with stunning views and smart tint control

  • All architectural styles

  • The finest materials, such as (Italian) Carrara marble

  • Environmentally-conscious monitoring systems

Here’s a sample luxury mortgage calculation for your monthly payment:

Your Vote Matters

Vote on election day

Vote at your assigned polling station on Monday, October 21. Polls will be open for 12 hours.

To find your polling station, check your voter information card or use our Voter Information Service.

Vote on advance polling days

Vote at your assigned polling station from 9:00 a.m. to 9:00 p.m. on:

  • Friday, October 11

  • Saturday, October 12

  • Sunday, October 13

  • Monday, October 14

To find your advance polling station, check your voter information card or use the Voter Information Service.

Still unsure how you fit in Canada's political landscape? Explore these surveys to shed some light on how your views align with those of the parties. :

Vote Compass

ISideWith - Political Quiz

First Time Home Buyers Incentive

Confused if the First Time Home Buyers Incentive Program is helpful? Let’s break down the facts:⁣

The federal government created a program that will allow eligible first time home buyers who have a minimum down payment to apply to finance a portion of their home purchase through a form of shared equity mortgage with the Government of Canada. This came into effect September 2nd, 2019. ⁣

Breakdown:⁣

• Will share up to 5% of a home on existing homes⁣

• Only for household incomes that earn no more than $120K a year⁣

• The mortgage and incentive amount can not exceed 4 times the buyer's annual qualified income. ⁣

• Will share up to 10% to boost construction of new homes⁣

• No interest on this federal money⁣

• No ongoing repayments required⁣

• Loan can be repaid anytime without penalty⁣

...The catch: a buyer will have to repay the same percentage of the equity borrowed when they sell their house, or after 25 years of living in the house. If the home is worth more than it was when purchased, It could be a larger dollar amount than anticipated

Check out this eligibility calculator to see if it makes sense for you: https://www.placetocallhome.ca/fthbi/eligibility-savings-calculator