When I was a young teenager, I went to a church that was very strict in how it wanted its members to behave. There was no dancing, no movies, no NASCAR, no rock music, and no long hair. Another proscription was a “believer” being married to an “unbeliever”. The rationale was that the “unbeliever” would cause the “believer” to backslide and lose their religion.
When I was in training to be a teacher, one rule of thumb I was advised to follow was to not pair a well-behaved student with one who had behavior issues. The poorly behaving student, it was advised, would pull the well-behaving student down rather than the other way around.
When I became a teacher, administrators recommended that I not associate with those teachers who stayed in the teachers’ lounge and complained. Instead, I was advised to associate with the more successful teachers.
By clearly unscientific observation, the ubiquitous advice of associating with those who exhibit the qualities that you would like to possess for the purpose of assimilating those qualities does seem valid. Successful people often associate with successful people. One often hears famous actors mention some of their early roommates — who have also become famous actors. This is not to say that there is a causal relationship between success and personal associations. It may simply be a correlation. But in any case, it is a phenomenon available for use.
Want to be productive? Associate with productive people. Talk with productive people. Work with productive people. Play with productive people. Email them. Call them. By doing so, one will be able to study applied productivity. You will also notice yourself becoming more productive as you assimilate behaviors that facilitate increased productivity. Remember, being friends with a productive person is just as easy as being friends with a non-productive person.
Congratulations to the REALTORS® Community Foundation! The charitable arm of the REALTORS® Association of Edmonton, the REALTORS® Community Foundation (RCF) is celebrating 25 years of contributions to our community on behalf of all REALTORS®! Over the last quarter century, the RCF has used the contributions and fundraising efforts of your local REALTOR®, to support more than 200 community agencies. In that time, the REALTORS® Community Foundation has donated more than $3 million dollars in contributions. That’s a lot of lives that have been touched through their efforts. REALTORS® participate in a variety of fund-raising activities to make those contributions possible, and participating REALTORS® even make a donation each time they sell a property! Edmonton’s Real Estate market has seen many different peaks and valleys over 25 years, many different types of buying and selling environments. Over that time, the charitable efforts of the REALTORS® Community Foundation are a constant that REALTORS® are all very proud of!
RE/MAX has embarked on a tour as the title sponsor of 9-year-old piano prodigy Ethan Bortnick’s concert series. Ethan is already a headlining concert pianist, composer and entertainer, and he’s showcasing his talent across the U.S. to support Children’s Miracle Network Hospitals, an organization for which RE/MAX Associates have raised more than $100 million.
As anticipated, the government announced three loan financing changes designed to address concerns about increasing levels of household debt. First, the government will reduce the maximum mortgage amortization period from 35 to 30 years. Second, the maximum amount of the value of a home that can be re-financed will drop from 90 per cent to 85 per cent. And finally, government insurance will no longer be available to financial institutions wishing to insure home equity lines of credit.
It is important to note, the government did not increase the minimum downpayment, which was under consideration. And the reduction of five years to the amortization period is understood, given there was a possibility of a larger reduction. Together, these three measures are designed to ensure homebuyers invest responsibly in home ownership and don’t risk their financial security by buying too much home for their income or the country’s economic circumstance.
CREA recognizes the government is trying to take reasonable and responsible action with respect to household debt, but urges the government to refrain from additional measures until it can fully evaluate and assess the impact of today’s announcement. Local REALTORS® do not expect a major shift in the market as a result of this announcement. Homebuyers will buy a property based on lifestyle decisions and may have to purchase a slightly less expensive home in order to qualify.
As anticipated, the government today announced three loan financing changes designed to address concerns about increasing levels of household debt. First, the government will reduce the maximum mortgage amortization period from 35 to 30 years. Second, the maximum amount of the value of a home that can be re-financed will drop from 90 per cent to 85 per cent. And finally, government insurance will no longer be available to financial institutions wishing to insure home equity lines of credit.
It is important to note, the government did not increase the minimum downpayment, which was under consideration. And the reduction of five years to the amortization period is understood, given there was a possibility of a larger reduction. Together, these three measures are designed to ensure homebuyers invest responsibly in home ownership and don’t risk their financial security by buying too much home for their income or the country’s economic circumstance.
CREA recognizes the government is trying to take reasonable and responsible action with respect to household debt, but urges the government to refrain from additional measures until it can fully evaluate and assess the impact of today’s announcement. Local REALTORS® do not expect a major shift in the market as a result of this announcement. Homebuyers will buy a property based on lifestyle decisions and may have to purchase a slightly less expensive home in order to qualify.
Thank you to Bart Durrant @ Dominion Lending for sitting with us and sharing his summaries on the new changes coming into effect. If you have any questions feel free to contact him @ 780-914-9610.
Edmonton, January 12, 2011: Chris Mooney, President of the REALTORS® Association of Edmonton predicted that the housing market in 2011 would be “steady as she goes.” He was addressing 800 REALTORS® and their guests at the 23rd Annual REALTORS® Housing Forecast Seminar at the Shaw Conference Centre today.
REALTORS® expect that sales figures will change direction over the next year and to climb from 18,293 (2010 MLS® System total) to 19,500 by the end of 2011. “Consumers appeared wary in 2010 and after an initial surge of sales in the first Quarter, stayed home and waited for the market to bottom out,” said Mooney. “We expect the market to return to normal in 2011 and for sales to increase slightly.”
Prices for single family homes will increase about 3% but an oversupply of condos will keep prices stable for that segment. Average prices for all types of property will vary through the year within a small range. “The average price for single family detached homes over the entire year was up 2.5% in 2010 and we expect that the trend will continue,” explained Mooney. “Prices in July were up over 7% year over year but by year end they were down 2.5% comparing December to December. A single family home priced at $377,000 right now will likely sell for $388,000 next year.”
For the second year in a row condo prices are expected to remain flat with no significant increase in the year-long average price. Buyers can expect to pay $240,000 (on average) for a condominium next year – about what they would have paid in 2010.
Mooney suggested that residential inventory would balloon in the second quarter, topping out at 7,000 properties. The inventory level will fall again to more normal levels by the end of the year. He also suggested that sales of rural and recreational properties would be slowed by low-cost real estate opportunities in the sun states, the higher price of gasoline and the Canadian dollar at par with the US.
Other presenters at the forecast seminar suggested that Alberta’s economy would grow by about 3%. There were no predictions of major outside influences that would skew the normal market operations.
The average price for a single family detached home in December was $355,270, down about $10,000 as compared to the price in November. The average condo price dropped less than $6,000 to $223,454. The marginal price reduction (down 0.45 per cent) continued a SFD slide that started in June when average prices were over $390,000. Condo prices peaked at $252,700 in April and have continued a relentless march downward since then.
The REALTORS® Association of Edmonton released month end and year end results for sales through the local Multiple Listing Service® and includes all residential sales for the City of Edmonton and surrounding communities and counties.
As compared to December 2009, single family prices were down 2.5 per cent and condo prices were off by 7.2 per cent. The average price of all residential property sales in December was down 2.0 per cent as compared to a year ago.
“Homebuyers are watching housing prices slide and may attempt to catch the market at the bottom by delaying their purchase but the low point is only evident about three months after it is reached,” said Larry Westergard, President of the REALTORS® Association of Edmonton. “Home sales are still happening each day and by waiting, the wary buyer may miss the ideal home.”
He urged home sellers to also watch the pricing trends to ensure that their home was appropriately priced relative to the market. “Market activity will pick up again in the spring as usual according to trends,” said Westergard, “Keep your REALTOR® on speed-dial to ensure you have access to the latest market figures.”
Residential sales activity in December was off 34 per cent (784 sales) as compared to November but fewer homes (1,110) were listed and that reduced the available inventory by 18 per cent to 5,721 residential properties on the Edmonton MLS® System. The average days on market rose from 59 to 66 days.
Year-over-year, the all-residential price (includes all single family, condominiums, duplex/row houses and mobile homes sold through the year in the Edmonton area) rose 2.6 per cent from 2009. The SFD price rose 3.52 per cent and condos rose 1.89 per cent for the year. REALTORS® sold a total of 18,293 properties of all types in 2010 which was down 14 per cent from 2009. They listed 40,597 properties which are up 7.6 per cent from the previous year. Total Edmonton MLS® System sales were valued at $6.12 billion: a 12 per cent drop from 2009.
Review these statistics and more at www.ereb.com.
* Average prices indicate market trends only. They do not reflect actual prices, which vary from house to house and area to area. For information on a specific area, contact your local REALTOR®.
The REALTORS® Association of Edmonton (Edmonton Real Estate Board), founded in 1927, is a professional association of Brokers and Associates in the greater Edmonton area. The Association administers the Multiple Listing Service®, provides professional education to its members and enforces a strict Code of Ethics and Standards of Business Practice. The Association also advertises property listings and publishes consumer information on the Internet at www.REALTOR.ca and www.ereb.com, as well as in the Real Estate Weekly and on their web site at www.rewedmonton.ca. REALTORS® support charities involving shelter and the homeless through the REALTORS® Community Foundation. Trademarks are owned or controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).
What’s the secret to getting my home sold in today’s real estate market? With more homes on the real estate market, you need to make yours stand out.
Properly prepared homes will sell quicker and for a better price. When you list your home with a RE/MAX real estate agent, we’ll give you the complete RE/MAX “Fit to Sell” homeowner package, giving you the secrets on how to stage your home so that buyers get the best first impression when viewing your property – inside and out.
In a series of 10 short videos produced for RE/MAX by designer and home-staging expert, Carla Woolnough, presents home staging tips on how to make your home most appealing.
View sample home staging topics by clicking on the highlighted “video” links below. Discover how to make simple home improvements that will enhance air quality, curb appear, flooring, painting, lighting and simple updates and repairs. As well as smart home staging ideas to de-clutter, depersonalize, enhance the main selling rooms of your home, ideal furniture and much more.
To receive the complete “Fit to Sell” Homeowner Package containing all 10 home staging videos, tips and checklists, contact your nearest RE/MAX real estate agent.
