Looking back on 2011, we hope that it was a year that you could be proud of; looking forward to 2012, we hope that it will be one that you are excited to experience!

Wishing you and yours a very Merry Christmas and all the best over the whole of the holiday season!

Warmest regards,

The Associates and Staff at RE/MAX Real Estate – Southeast

Just wanted to give everyone a quick Holiday update on our office hours…

We are only open on Friday December 23rd from 9 – 12:00.

We will be closed Saturday December 24th through Tuesday December 27th.

Wednesday and Thursday we are open 9 am – 430 pm and Friday December 30th 9 – 12:30 pm

Closed Saturday December 31 through Monday January 2.

Any of our Associates can be reached via the answering service by calling 780-462-5000.

Have a GREAT Holiday Season!

RE/MAX Canada released it’s comprehensive look at markets across Canada today, giving consumers a glimpse of where the Canadian housing market might be going in the next 12 months.  What does it mean for Edmonton?  Is it good news or bad news?  Doom and gloom or wine and roses?  Well, if we want to stick with the cliches, let’s use “steady as she goes!”

The forecast report looked at two real estate statistics – Average overall residential sale price (single family home and condo) and total residential unit sales – the two most common indicators of housing health.  The year over year comparison shows that 2011 was slightly off from 2010, down 1% from $328,803 to $326,000 while transactions were up 2.7% (16,850 vs 16,403) from 2010.  Looking forward, the report sees both sales and price as being flat, with little or no change to either.

What does that really mean for the consumer and why is steady as she goes not that bad of a thing?  Taking a longer look (a 5 year outlook) we see that the Edmonton market has recovered well from the housing downturn experienced in 2008/09, while we haven’t gotten back to the prices or activity of 2006/07, we are seeing that real estate activity is relatively robust –  it is better to think of the current environment as the new normal rather than a downturn.  Pre-boom (before 2006) it was common to see very small to negligible changes in these two areas, Edmonton was a much more consistent market when compared to its sister to the south Calgary which again appears to be on a bit of a roller coaster of activity again.  Edmonton’s prices, when compared to other major cities (Toronto, Vancouver, Calgary) are still relatively affordable and when compared to other cities with lower average prices (Montreal, Quebec City, Hamilton) has one key bonus – it has a growing job market!  Over 2011, Edmonton saw the largest increase in job creation in the country and has experienced positive migration again this year.   Interest rates continue to remain low and there doesn’t seem to be rush to bump them higher.  These facts mean that the Edmonton housing market appeals to two different ends of the market – the investor looking for a good return on investment AND families looking for a home of their own.

It would appear that the Edmonton market could see significant upswing based on these factors, yet, there are some overburdening shadows that are keeping a lid on some of this for now.  Exterior market forces such as the overall concerns of the global economy and a lot of the bad news still filtering in through Alberta’s economic shield continues to keep many consumers on the sidelines with a “wait and see” approach to housing decisions.  This is a principle reason that 2012 will not see much statistical change.  Once this caution and fear begins to disapate then we are most likely to see activity to ramp up in the Edmonton area and prices begin to re-adjust once more.

Slow and Steady, it doesn’t make headlines but it does get you where you need to in the end!

Balanced conditions set to return to most Canadian housing markets in 2012,

while residential values expected to once again set new records, says RE/MAX

Kelowna, BC (December 6, 2011) – Canadian residential real estate defied conventional logic and

outperformed expectations in 2011, posting another solid year of housing activity virtually across the board.  The trend is expected to carry forward into 2012 as Canadians continue to demonstrate their faith in homeownership, despite concerns over the European debt crisis and its impact on the global economy, according to a report released today by RE/MAX. The RE/MAX Housing Market Outlook 2012 examined trends and developments in 26 major markets across the country. Eighty-eight per cent (23/26) anticipated average price increases by year-end 2011—with percentage hikes ranging from one to 16 per cent. The forecast for 2012 shows the upward trend moderating, but still ahead of 2011 figures.  Overall home sales are expected to remain on par or ahead of last year’s levels in 85 per

cent (22/26) of markets in 2011—including Saskatoon with a year-over-year percentage increase of 13 per cent and an eight per cent uptick in Calgary, Winnipeg, Hamilton-Burlington and Sudbury. Almost half of Canadian markets will match the 2011 performance, while the remainder should post increases ranging from one to five per cent next year.  By year-end, an estimated 460,000 homes are expected to change hands, up three per cent from the 447,010 units reported in 2010. Sales are expected to climb one per cent to 464,500 units in 2012. The value of a Canadian home is set to climb to $363,000 by year-end—an increase of seven per cent over the $339,030 posted one year ago. By year-end 2012, the average price in Canada is forecast to appreciate two per cent to $371,000.

“What 2011 proves is that real estate continues to have momentum,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. “The economic underpinnings support ongoing demand, particularly as job creation efforts continue and unemployment rates edge down further. Nationally, we remain on an upward track, and the confidence consumers have demonstrated in housing over the past decade will prove well founded once again next year. The rising belief in homeownership is key, especially among Generation X and Y—some of whom are making their moves sooner. Boomers and retirees are changing, too. They’re healthier and more active, with longer life expectancy. Overall, we’re seeing an extension of the homeownership cycle, and it’s great news for housing going forward.”

Improvement in both provincial and local economies, especially during the second half of 2012, should serve to further stimulate homebuying activity. Calgary, Saskatoon, and Halifax-Dartmouth will likely lead the country in unit sales in 2012, each with a projected increase of five per cent. Regina, Greater Toronto, Saint John, Moncton, and St. John’s anticipate a three per cent increase in home sales next year.

 “Canadian consumers are intent on making their moves now, in advance of higher housing values,” says

Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. “Housing markets are not

impervious to the impact of economic concerns moving forward, but real estate has proven its resilience time and again—2011 was case in point, as residential real estate markets actually experienced an upswing in the volatile third and final quarters, instead of responding to economic concerns both here and abroad with a retreat in sales and prices.”

While tighter supply levels contributed to steady price appreciation in most major markets across Canada this year, an increase in inventory more in line with years previous should ease upward pressure on average price in the year ahead. The highest appreciation is expected in Regina, where values are forecast to increase eight per cent, followed by Greater Toronto, Halifax-Dartmouth, and St, John’s—each posting a five per cent gain. Overall, 81 per cent of the markets examined are forecast to set new records for average price next year. Noteworthy milestones include Greater Vancouver, which will break the $800,000 threshold, as well as Regina and Kitchener-Waterloo, which will reach the $300,000 mark.

“While prices will remain on the upswing, buyers will benefit from greater selection moving forward,” says Sylvain Dansereau, Executive Vice President, RE/MAX Quebec. “Stability or modest growth will characterize sales activity, while GDP moves forward at a more muted pace in 2012. Whether markets will meet or potentially exceed projections will hinge largely on consumer confidence. An unexpected call for interest rate hikes could also serve to bolster sales.”

Other highlights include:

• Population growth and immigration are major factors expected to prop-up housing demand and

household formation in the coming years. Since 2000, Canada’s population has experienced double digit

growth of 11 per cent. By 2031, over 42 million people are expected to call Canada home.

• Investment will also continue in Canada’s major centres, with income producing properties at the top

of the most wanted list. Low vacancy rates and stock market volatility reinvigorated this segment of

the market in 2011 and the very same factors are forecast to influence sales moving forward.

• Condominiums are expected to gain an increasing share of the marketplace, particularly in Western

Canada and Ontario. A focus on higher density urban growth is impacting purchasing patterns and

introducing new, affordable options—critical to the attainability of homeownership as price continue

to move upward.

• Housing stock in major Canadian centres will improve as municipalities focus on redevelopment and

revitalization.

RE/MAX is Canada’s leading real estate organization with over 18,500 sales associates situated throughout its more than 700 independently-owned and operated offices in Canada. The RE/MAX network, now in its 38^th year, is a global real estate system operating in 80 countries, with over 6,200 independently-owned offices and over 89,000 member sales associates. RE/MAX realtors lead the industry in professional designations, experience and production while providing real estate service