• Attic Insulation – 12-15 inches minimum of even insulation is needed to keep heat in the house and money in your pocket. Have your R-value checked by a professional if needed.
• Change Air Filter – For healthy, indoor air, change your air filter once a month in the winter months. Your furnace has to work twice as hard with an air-borne allergen clogged filter.
• Vacuum Vents – Take off the covers and hoses to your dryer, bathroom and stove vents and suction out lint and debris. This will increase efficiency and decrease fire hazards.
• Furnace Cleaning – Have furnace inspected and cleaned once a year – before winter. A dirty furnace is less efficient. Call ATCO Gas to inspect your appliances. Free of charge.
• Clean Gutters and Downspouts – Use a ladder, gloves and a garbage bag to remove debris from the past year. Run water from a hose through the downspouts to ensure they are unclogged.
• Install Gutter Guards – To minimize the amount of debris accumulated, gutter guards are a good idea but you’ll still need to check for clogs once a year in the fall.
• Seal Foundation – Cracks and holes in foundation are inevitable and can lead to significant damage if not treated. Repair and seal holes with a quality caulking material.
• Inspect Roof Shingles – Not just the shingles but metal flashing at all the roof joints to look for signs of leaking, rotting or damage. It protects everything in the home – don’t overlook it.
• Check Shut off Valves – An important line of defense and if not cared for, they can deteriorate. Wipe valves clean, and open and close. This deters corrosion and ensures they work.
• Drain Outside Faucets – Water pipes can freeze, swell and burst in the winter months, causing significant damage. Turn the external shut valve off and open the faucet until the drip stops.
• Replace Batteries in Detectors – October is Fire Awareness Month so use it as a reminder to replace batteries in smoke detectors, carbon monoxide alarms and other safety instruments.

As our local housing market is wide-ranging and regularly evolving. These figures in 2015, so far, give you a sense of the wide range of possibilities in the city.

Late Night Clarinet – Friday, October 16 

Fall Edmonton Woman's Show – Saturday, October 17 and Sunday, October 18

Dedfest – Wednesday, October 21 to Monday, October 26

Edmonton Fall Home Show – Friday, October 23 to Sunday, October 25

Spooktacular Grave Discoveries – Friday, Oct 23, Saturday, Oct 24, and Friday, October 30

Edmonton, October 2, 2015: The average residential price in September for the Edmonton Census Metropolitan Area (CMA) is down less than 1% year-over-year (YoY) despite reported sales being down 6.76%. Single family sales (down 9.72% YoY) and condo sales (down 9.07%) continue to be down over levels reported in September of 2014, while duplex/rowhouses (up 17.21% YoY) buck the trend.

“The strength of prices in the Edmonton market is an excellent indication that we are maintaining stability,” explains Geneva Tetreault, Chair of the REALTORS® Association of Edmonton. “Buyers continue to see the benefits of a healthy inventory but we haven’t seen many sellers dropping prices significantly in order to compete. Last year’s market and its low inventory made buyers feel pressure to jump into an offer if they found something they like. We are seeing buyers take a little more time in the decision making process this year.”

A single family home in the Edmonton Census Metropolitan Area (CMA) sold for an average of $432,150; down 1.75% from August and down 0.98% YoY. The average price for condominiums ($252,953) fell 0.68% over last month and 1.05% over last year. Duplex/rowhouses did well at an average of $364,203 – up 2.76% from the previous month and up 4.28% from 2014. All residential properties sat at $368,874; down 0.91% from August and down 0.75% over September 2014.

“We will likely see prices continue to dip as we move into the colder months. Real Estate in Edmonton has a very seasonal trend and colder months always mean fewer sales. We may see buyers take advantage of this trend and benefit from low interest rates while they still can,” Tetreault says.

All residential active inventory remains healthy with 7,108 properties available at the end of September, down from August by 1.65% but still up over last September by 47.71%.

Average days on market for all residential properties was down this month by 1 over last month sitting at 53. This is up by 8.51% from last year. Single family average days on market was down to 51. Condominiums were averaging 57 days compared to 56 in August, and duplex/rowhouses took an average of 51 days to sell in September.

As a current homeowner, you might be planning you next move to a new home. You are now stuck with the dilemma of whether to buy or sell your existing home first.  You could try to buy a home with a condition that says the purchase is subject to the sale of your existing home but in most markets that will give you a huge disadvantage when competing with other buyers. 

Truth be told, there are rewards and drawbacks with either choice. It is in your best interest to keep the following in mind to explore what might be the best move for you. 

1.        Consult your Realtor about your options

 An experienced, trusted, and knowledgeable Realtor can provide a realistic value expectation of your present home and give an overview of options such as porting a mortgage, bridge financing, and a conditional offer. Essentially, your Realtor can set the strategy with the terms and conditions in your listing and purchase contract. Also, your Realtor can negotiate possession dates to prevent you from being homeless in between homes or stuck with two homes and becoming a reluctant landlord.  

1.        Value of your current home - know your budget

 Obtain a realistic value of your present home through provided by your Realtor or an independent appraiser. Keep in mind to include selling costs such as mortgage penalties, lawyer fees, and real estate commission. This information will help you estimate the amount of equity remaining after your present home sells.   

1.         Be realistic about your financial capabilities

 Once you know how much equity you will have, check with your lender to determine your options regarding your current mortgage and to find out if bridge financing is a possibility.  This allows you to take possession of your new home before the funds for your existing home are received by your lender.  Find out how much this will cost you based on the interest rate and any fees included. If financing is not, you may have to sell your current home and make temporary living arrangements until you get the perfect new home. 

  4.          Keep all of your properties

 It may be an option to keep your present home as an investment property. Your bank will consider the monthly rental income to qualify you. Just take into consideration all the things that come with being a landlord, such as property management, vacancy, property upkeep, and taxes to name a few.

In the end, your decision will most likely be based on a number of factors, but knowing the potential upsides and drawbacks are important before you make your next move.