Buying an Edmonton home situated on leased land  Usually Edmonton buyers purchase thier homes on land which are not leased. However there are several properties where the dwelling is sitting on leased land. This could be anything from apartment condominiums near the University of Alberta, retirement condos in Spruce Grove, a few Edmonton neighborhoods, an additional green space attached to your back yard or other instances. How do you know if the home you are purchasing is sitting on leased land? Leased land is usually crown owned land where the government owns it. Usually a land lease wi ..read more

Is there a Capital Gains Tax when I sell my house in Canada? For the majority of Canadian homes owners who have resided in thier property for at least 1 full calandar year, there is not a capiatal gains tax when you sell your home. However there are taxes payable to the canadian government for the following residential real estate home sales.... summer cottages second homes rental properties (including if you rent out your primary residences for a time period) Capital Gains tax is also applied to real estate you have inherted/given to your children. This rule has been in place for several year ..read more

30 Year Mortgages are back. Starting August 1st, first time home buyers purchasing new home will be allowed to obtain a 30 year amortization instead of 25 years which will help lower your monthly mortgage payments. There are a few catches. 1. Can not be a new build or spec home 2. First time buyer will be anyone who has not owned a home in the last 4 years. There is also a change to RRSP withdrawals for first-time home buyers. The limit presently is a max withdrawal of $35,000 per person. This is being raised to $60,000. This will take effect April 16th. Any question, feel free to contact ..read more

If you are planning on purchasing a home in Alberta, the time is now! Houses prices in Edmonton and the surrounding area are on the rise. According to the real estate association of Edmonton market statistics, today the median asking price for single family detached 3 bedroom house is at $589,900. The average asking price for single family detached 3 bedroom house constucted 2000 or later is $765,897. In the surrounding areas, the average asking price for 3 beroom single family detached houses constructed after 2000 are Sherwood Park at $636,372, Beaumont at $660,672, St. Albert at $729,797 a ..read more

When it comes to buying or selling a property, transparency is crucial. Courts have found that both sellers and agents have a responsibility to disclose any relevant information about the property's condition. It is important for listing agents to educate sellers about the risks associated with not disclosing relevant information about the property's condition. Failure to disclose can lead to lawsuits and financial consequences down the line. By being transparent, sellers and their agents can avoid potential legal issues. When buyers have a complete understanding of what they are investing in ..read more

2024 Riverbend home sales January Riverbend home sales There were a total of 4 home sale in Riverbend Carter Crest townhouse for $324,900 Henderson Estates Bungalow for $435,000 Ramsay Heights lowrise apartment for $235,000 Rhatigan Ridge half duplex for $338,000 February Riverbend home sales There were a total of 6 home sale in Riverbend. 2 Carter Crest bungalows for $625,000 & $600,000 Brander Gardens lowrise apartment for $160,000 Carter Crest townhouse for 340,000 2 Ramsay Heights lowrise apartments for $134,500 & $410,000 View available Riverbend homes ..read more

2024 Terwillegar home sales January Terwillegar home sales There were a total of 18 home sale in Terwillegar. 15 condominiums and 3 houses Houses sold were - one bungalow in Henderson Estates for $435,000, one bungalow in South Terwillegar for $485,000 and a half duplex in Rhatigan Ridge for $338,000 Condominiums sold were 13 lowrise apartments ranging in price from $167,700 to $465,000 and two townhouses in Carter Crest and Terwillegar Towne. February Terwillegar home sales There were a total of 17 home sale in Terwillegar. 15 condominiums and 2 houses Terwillegar houses sold were a half dupl ..read more

There were a total of 1,966 residential unit sales in the Greater Edmonton Area (GEA) real estate market for February 2024, showing increases of 36.9% over January 2024, and 52.6% over February 2023. New residential listings amounted to 2,762, a number 27.7% higher than in January 2024, and 9.3% higher than February 2023. Overall inventory in the GEA increased 5.8% from January 2024, but is still 14.3% lower than February 2023. Detached unit sales totalled 1,159, a number 32.5% higher than the previous month, and 60.5% higher than the previous year. Semi-detached unit sales increased 36.2% mon ..read more

What are material latent defects and how do they effect your home purchase? Material latent defects are a physical defect that is not discernible through a reasonable inspection, and makes a property dangerous or potentially dangerous to the occupants. A good example of a material latent defect is mold issues which have been covered up prior to putting a home on the market. These are defects that may not be discoverable during a reasonable inspection of the property, even by a professional home inspector. Material latent defects may also include defects that would be very expensive to repair o ..read more

Yes, you can!  What is real estate co-ownership and how does it work? The most common type of co-ownership of property aside from are tenancy in common and joint tenancy. Tenancy in Common is ownership of title to property by two or more persons.  With the newest fad of co-ownership, it is easier to make your real estate dreams become a realty. If you ever wondered if there is a stranger out there who wants to purchase a single family house instead of buying into the condo market, you've come to the right place. Instead of buying a townhouse condo for $300,000, you can own ..read more