Selling your home in Alberta requires careful pricing to attract buyers while ensuring you get the best possible return on your investment. The real estate market is dynamic, and understanding the factors that influence home prices can help you set a competitive and realistic asking price. Here is the information you need to pricing your home effectively in today’s Alberta market.

Understand the housing market

Alberta’s real estate market is influenced by economic conditions, employment rates, interest rates and housing demand. Markets in cities like Calgary and Edmonton may differ from those in smaller towns, so it’s essential to analyze local trends. To gauge market conditions, consider:

• Current market type − Is it a buyer’s, seller’s or balanced market?
• Recent sales data − Look at comparable homes that have recently sold in your area.
• Inventory levels − High inventory can lead to lower prices, while low inventory can drive up prices.

Conduct a comparative market analysis

A comparative market analysis (CMA) involves reviewing recently sold properties similar to yours in terms of location, size and features. A real estate agent can provide a detailed CMA report and you can also check online listings to see how homes in your neighborhood are priced. Factors to consider in a CMA:

• Location − Homes in desirable neighborhoods often sell for higher prices.
• Size and layout – Floor plan, number of bedrooms and bathrooms and square footage influences price.
• Age and condition − Well-maintained homes typically sell for more.
• Unique features − Renovations, smart home technology and energy efficiency can add value.

Price according to market trends

• In a seller’s market − Prices can be set slightly higher as demand outpaces supply.
• In a buyer’s market − Competitive pricing is crucial to attract buyers.
• In a balanced market − Pricing should align closely with recent sales data.

Consider the role of appraisals and assessments

A professional appraisal provides an unbiased estimate of your home’s value. Appraisers evaluate factors like location, condition and recent sales to determine market value.

Additionally, the municipal tax assessment gives an estimate of your home’s worth although it may not always reflect current market conditions.

Factor in listing strategies

• Competitive pricing − Setting the price slightly below market value can generate multiple offers.
• Psychological pricing − Prices ending in 999 (e.g., $499,999) can attract more buyers.
• Price banding − Positioning your home within a popular price range maximizes visibility.

Adjust pricing based on feedback are market response

Once your home is listed, monitor interest levels, feedback from showings and online traffic. If there are few inquiries or showings, it may indicate the price is too high. Making strategic price reductions can reignite buyer interest.

Work with a real estate professional

There’s no question that a licensed real estate agent with local expertise can provide valuable insights and help you price your home accurately. They can also negotiate effectively on your behalf to maximize your sale price.

In closing

Setting the right price for your home is a balance between market trends, competition and buyer expectations. If you’re selling your home, it would be my pleasure to work with you to optimize your pricing strategy and ensure a successful sale.

Every year more and more new neighbourhoods are built in Calgary. Would you believe that another 11 new communities have recently been proposed? No matter what city council approves, there’s no disputing that Calgary is a growing and thriving metropolis. If you’re looking to purchase a home in the city, here are a few of the newest communities to consider.

North East

This quadrant of the city is closest to Calgary’s international airport. You can get there is just 10 minutes from most neighbourhoods in the area. The North East has some good shopping complexes and is still close enough to downtown for an easy commute on major roadways like Stoney Trail. Enjoy family time outdoors in the many parks (some with built-in fitness equipment) and at the impressive wetlands preserve. Here you’ll find affordable homes for first time buyers in communities such as Redstone, Riverside and Cornerstone.

South East

How would you like living by the water near one of Calgary’s beautiful freshwater lakes? The South East has a selection of marvelous communities including McKenzie Lake, Auburn Bay and Midnapore where you have access to beaches, picnic areas, bike paths and more. Home owners benefit from top notch community centres and recreational complexes. And, don’t overlook properties for sale in Inglewood where you’ll be close to great local shops and breweries. If you enjoy music concerts and watching the Calgary Flames, you’ll appreciate the Scotiabank Saddledome being nearby. The South East offers good value for your property purchase.

North West

Communities such as Nolan Hill, Sage Hill, Kincora and Evanston are terrific places to raise your family. Some housing developments are designed to promote neighbourliness with houses built with wide front porches and no fences between homes. You’ll have amazing views of the Rocky Mountains and ready access to Calgary University and recreation offered at WinSport Olympic Park. At the same time, you can quickly travel downtown via the LRT or major roadways like Stoney Trail and Shaganappi Trail. This is another area of the city where first time buyers can find a modern and quite affordable property.

South West

The South West also offers easy access to the Rocky Mountains, and living among the foothills can be quite pleasing. Communities here incorporate many different family outdoor recreational opportunities. You’ll be close to places like Fish Creek Provincial Park, the Glenmore Reservoir and the Sirocco Golf Club. Whether you’re in the market for a detached home, townhouse or condo, you’ll have that neighbourhood feel in developments like Pine Creek, Lakeview and Sirocco. Plus, you’ll still live within a reasonable community distance to the downtown business and entertainment district.

With almost 200 unique neighbourhoods in Calgary, there’s so much to choose from. I’d be more than happy to help you narrow down the options to find your next house in a community where you’ll feel right at home!

When you’re getting ready to list your property for sale, you want to do everything possible to get the very best price. Certainly, there are fluctuations in market conditions to be aware of that might influence the asking price and the chance that a buyer may offer more. Nevertheless, there are a few ways that you can demonstrate the value of your home and encourage higher bids.  

Bump up curb appeal

First impressions count. Make sure that the front yard looks well-cared-for and shows that you have pride in your home. Purchase some nice planters or eye-catching seasonal décor. The front door must appear clean and hardware should be sparkling. If the door could benefit from some fresh paint, consider going with a rich-looking colour like a bold red or slate blue. Inspect your outdoor lighting for any bulbs that need to be replaced and necessary cleaning.

Invest in staging

Have you ever walked into a model home in a new housing development? Builders will often stage houses with neutral paint colours and some stylish pieces of furniture to attract buyers. While you can’t expect to create the same effect in your family home, try to get as close as you can.

Basically, you want anyone viewing your property to be able to see themselves living there. This means depersonalizing by taking down family photos, clearing away clutter and giving your house a deep cleaning. If you have some funky-coloured paint on the walls, you can also invest in a few coats of a neutral colour. Go for the biggest impact by focusing on areas like the kitchen, living room and bathroom. You have the choice of doing this yourself or hiring a professional stager.

Complete minor renovations

Of course, you want to ensure that any needed repairs have been made. This shows buyers that you take good care of your home and they shouldn’t expect any problems after moving in. However, take things a step further by thinking about any minor improvements you can make that are not too expensive. For example, maybe switching an older carpet in one of the bedrooms for something new in neutral tones or adding a modern backsplash in the kitchen or bathroom could make a big difference. 

Be flexible with conditions

Getting a great price over asking might come down to how flexible you can be when negotiating other conditions of sale. Your willingness to entertain a closing date that meets the buyer’s needs is one way to be flexible. Perhaps your listing has caught the eye of someone who is moving to Calgary and needs to relocate soon. On the other hand, a prospective buyer might want a longer closing time. Competing offers may come with different closing requests. 

Find a good realtor

Finally, it’s always a good idea to work with a real estate agent who has a strong reputation for getting the best price for properties. Find someone with proven expertise who knows how to attract buyers that are willing to pay top dollar for the right home. To begin with, an agent will give you advice on pricing your property right to attract interest. They also understand the most effective marketing strategies to showcase your house or condo so that it stands out.

If you’re thinking of selling, reach out to me – I’m only too happy to help!

You know the feeling! When you get home from work or a busy grocery shopping trip, walking in the front door of your dwelling can bring a sigh of relief. Your house or condo is your sanctuary and there’s nothing like coming home to it. Here’s my take on the comforts that come with owning your own home.

Provides privacy

Being a property-owner offers a significant amount of personal privacy. There’s no landlord to worry about. You’re in total control when it comes to whether to hire a contractor to renovate the kitchen, or a landscaping company to maintain your lawn and plow the driveway. Your home is your refuge and you get to decide how much privacy you want.

Gives security

Investing in a property provides a level of security for you and your loved ones. The peace you have from knowing that no one is going to raise your rent or ask you to move is unparalleled. Furthermore, purchasing a home is a great financial investment.

Expresses personality

You can create a living space that expresses your unique tastes and personality. There are so many choices when it comes to décor, paint colour and furnishings. Sooth your soul and enhance your sanctuary with the scents and sounds you prefer. Do you like a minimalist look or are you more comfortable with a little organized chaos, so to speak?

Nurtures family

Your home is a place for making great family memories. You can design your rooms to meet the needs of everyone in the household, and change them as children grow. Do you need a playroom where little ones can entertain themselves? Would a cosey family room be a great space for movie night? Making bedrooms comfortable and bathrooms into mini-spas are other nurturing ideas.

Connects to community

Owning a property means that you have a strong connection to your community. Becoming familiar with the parks and stores in your immediate neighbourhood also makes your home feel like a sanctuary – you begin to know you belong there. And, the contact you have with your neighbours from the front porch or back yard strengthens that feeling of connection.

If you’re ready for home ownership, reach out to me to find out how I can help.

There’s no doubt that buying a home is an exciting endeavour. It’s a major decision no matter what way you look at it. Of course, you want to choose the perfect home in a welcoming community where you can settle and raise your family. And, you also need to determine the best way to finance one of the biggest purchases you’re likely to make in your lifetime.

If you’re fortunate enough to have the option of either paying for your property with cash or financing your new abode by taking out a mortgage, there are a few things to consider. Here are the main pros and cons of each approach.

Cash purchase

While a cash purchase might look like a simple alternative, there are some basic pros and cons to be aware of.

Pros:

• Peace of mind – Owning your property outright can give you a feeling of comfort. You have no mortgage payments to worry about and don’t need to be tracking mortgage interest rates to decide when is the best time to renew your loan.
• Fewer closing costs – You will avoid costs associated with taking out a mortgage, such as fees for obtaining a credit report, processing the loan application and appraising the property.
• Faster purchase – Buyers will be attracted to a seller that has cash on hand since they don’t have to worry about a mortgage approval falling through, and the deal not proceeding. You may even be able to negotiate a lower purchase price.

Cons:

• Less cash available – If much of your personal wealth is tied up in your property, you’ll have less cash on hand for other spending. At a minimum, it’s important to make sure you’re able to afford the maintenance cost, insurance premiums and property taxes on your house, and have some cash put away for emergencies.
• Increased investment risk – Real estate is usually a solid investment. However, review the market conditions to determine if your money might grow faster if it’s invested in stocks or bonds.

Mortgage financing

Most people finance their home purchase with a mortgage from a bank or other lender. Even though it’s a common practice, you should consider the following pros and cons to see if it’s right for you.

Pros:

• More cash available – You may find it less stressful to have more cash liquidity. This will give you the financial flexibility to make improvements and renovations to your property that will meet your family’s needs and also increase your home’s value.
• Funds to invest – It’s good not to put all your eggs in one basket, as the saying goes. If you can secure a mortgage at a low interest rate, you’ll have money to purchase other investments such as mutual funds.

Cons:

• Interest rate changes – Mortgage interest rates fluctuate and you’ll need to pay attention to what your loan is costing you. You’ll have to choose between a fixed and variable rate and select the term length, so take the best deal you’re offered.
• Home isn’t yours – A mortgage on your property essentially means that you don’t own it, the lender does. While this may have more of a psychological impact if you plan to continue living in the house, if you decide to sell, you’ll need to pay the bank off.

In short, the best option is probably the one that gives you the biggest bank for your buck, as it were. The Real Estate Council of Alberta is a great resource to understand all the financial decisions that go into buying a home. Plus, I’d be delighted to answer any questions you have.

When you’re house hunting, there’s so much to consider. You want to find a home that will meet your family’s needs in a nice neighbourhood with good schools and convenient shopping. Looking for a house you’ll love can be exciting and time-consuming.

To make the journey easier, take the time to seek pre-approval for a mortgage loan. You’ll find that this one step has a number of advantages. Here are the main ones:

Provides assurance

It can really be helpful to know ahead of time the full amount of a mortgage that you qualify for, and what your monthly payments will be. Certainly, you may find a great property for under that amount and end up borrowing less money. However, knowing the parameters provides you with the assurance you need to go out and view homes within a particular price range. 

Lock in the best rate

One of your goals in setting up a mortgage should be to find the best rate. Why pay more interest than you have to, right? When you shop for a mortgage ahead of viewing houses, you can take the time required to find a good deal. Your mortgage pre-approval will last from 60 to 130 days, depending on the lender, and that means you’ve basically locked in the rate for that period of time. You don’t need to worry about interest rates going up while you’re viewing properties.

Better purchase position

When you have a pre-approved mortgage, you’re often in a better bargaining position compared to people who don’t have this. It means that you can act more quickly when making an offer on a property. You already know the maximum amount you qualify to borrow, so you understand how much flexibility you have in negotiating a good price. Plus, the seller knows that you have solid financial backing so may be more inclined to work with you on your offer.

No surprises

Taking out any loan, of course, requires a credit check. If you haven’t borrowed for another reason recently and aren’t in the habit of checking your credit rating regularly, it can be difficult to know where you stand. Going through the process of mortgage pre-approval helps you uncover any surprises that could derail your efforts to buy your dream home. It could be that there’s some incorrect information in your credit history that needs to be set right.

Are you interested in acquiring a pre-approval on a mortgage loan? Reach out to me and I will gladly put you in touch with several of the best lenders in Calgary.