Housing starts through the roof

Housing starts in Alberta in May were at their highest level since 2015.

Construction of new homes continued to be bullish as Alberta’s housing starts (seasonally adjusted at an annual rate or SAAR) climbed 15.2% to reach 46,456 units in May, the highest level since March 2015.

While single family homes ticked up after a short-lived decline in April, the gains were mainly a result of a big jump in multi-family starts in the month.

Averaging 35,100 units, housing starts in the province were up by 4,100 units (+13.3%) year-to-date. In terms of the number of units being built, Alberta posted the largest year-to-date increase of any province.

Meanwhile, national housing starts grew for the second consecutive month, up 8.1% in May with five provinces contributing positively to the monthly gain.

Although new home construction remains on solid footing, we expect rising interest rates to weigh on activity later this year.

Get Ready to Sell!

This spring set to sizzle in local Real Estate market!

Early indications show that the St. Albert housing market is in for a banner spring selling season. Spring is traditionally the busiest time of the year for house and condominium sales. Realtors say the present limited inventory, combined with the usual influx of spring home-buyers, has already set up scenarios of multiple  offers and homes selling at or above asking price within days, rather than weeks.

Scott Storry, a St. Albert Realtor with Royal LePage, said the city’s range of housing from near million dollar executive homes to affordable condos under $200,000, attract a wide variety  of buyers and both can sell quickly  in a hot market, as long as they are priced right.

“In my view, listings that are priced to sell can get at or over full list price.  And it’s a big deal that St. Albert was just names a top City in Canada, it’s safe and beautiful – so people want to move here. Interested buyers and an attractive product make for a hot market,” said Storry.

“But homeowners still need a plan to get a quick sale, simple things they can do to show the home at its best. Remember, you only have one chance to impress.”

The median home sale price in St. Albert was $441,000 in March with 79 sales. In the entire Edmonton metro area, sales of all types of residential properties were up 5.8 percent in the first quarter, compared to the same period in 2013. Realtors Association of Edmonton president Greg Steele said first quarter data shows high demand for housing and good consumer confidence throughout the capital region.

For homeowners planning to sell in this buoyant spring market, experts offer a few common sense tips to keep in mind before the “For Sale” sign goes up.

“Make sure your home is sparkling clean. De-clutter, take down most personal pictures and mementos, and think about refreshing up the house by painting with neutral colors,” said Sheryol Shera, local Realtor and owner of Shera & Co., which provides interior redesign and staging for home seller in St. Albert and area.

“And remember the outside of the house too – curb appeal – clean the front door, sweep away leaves and cobwebs. Homebuyers take 60 seconds to make a decision about the property, so the house had better be clean.”

AS soon as a sign goes up on the lawn, homeowners shouldn’t think of the house as their any more – that mindset can help people take the emotion out of the home-selling experience, she said.

“We come in with an objective eye and show homeowners that the house needs de-cluttering or a fresh coat of paint.” Shera added, even recommending a favourite paint colour to customers: a neutral blue-grey paint from Benjamin Moore called Perspective that she said won’t offend potential buyers.”

Storry agrees that paint is an easy,low cost-fix when preparing to sell – providing well over a 100 percent return on investment – along with minor changes like cleaning carpets, replacing missing baseboards and patching holes in walls.

“If your home is tidy, shows well and is priced right, it’s likely to sell quickly in this market,” he said.

 

St. Albert Gazette, Saturday April 12, 2014, At Home, By Lucy Haines. 

 

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New Look for your Kitchen and home!

Spring has sprung, so it must be home renovation and/or selling season.  And since the kitchen is the heart of the home, where we all gather to eat, socialize and connect, it’s no surprise that it’s the spot we pay most attention to when it comes time to spruce up or modernize our living spaces, whether to enjoy yourselves or in preparation for putting on the market.

Realtors routinely tell homeowners to invest in the kitchen and bathroom, key to selling a home.  A recent Home Gain national survey showed that upgrading a kitchen, at an average price of $6000 (but usually higher) offers a 75 per cent return on investment.  A sure way to update the home’s kitchen is by incorporating key trends in the market – things like painting with the hot colour of the season, adding interesting and colourful back splashes, and use of LED lighting above counter tops or even inside the fridge or on faucets.

Gurjinder Singh, owner of the Sears hometown store on Inglewood Drive, said touch screens are everywhere in the kitchen and have been for a few years, reflecting the mass use of these in our daily lives – on tablets, smartphones and such.  These first appeared with fridges but are now more prominent on all appliances, from ovens and microwaves to touch-programmable freezers.

“People want the latest gadgets and features – an interactive computer screen inside the fridge is the latest – but you pay a premium for it,” said Singh, adding that most homeowners and builders simply want something is shiny and new in the kitchen, and that usually means stainless steel.  Prices on these appliances, now with smudge-free models, aren’t much more than traditional white, though Singh points to a newer line of white appliances with stainless steel handles, called white ice, for those who cant’s choose.  “These are popular in the U.S., but havent caught on so much here yet.”

Today’s open concept homes, where living, dining and kitchen areas flow together, leads a trend towards unified floors. No more shifting between living room hardwoods to tiles in the kitchen – now every room can become part of one large environment by bringing the hardwood (real, laminate or luxury vinyl ) throughout the space.

Gerry Daechsel, manager of Titan Flooring and Interior Design in St. Albert said traditional, though expensive, hardwood floors aren’t going out of style, but young families are increasingly moving toward luxury vinyl plank (LVP) or luxury vinyl tile (LVT) as their floor surface of choice.  “You’ve  seen these planks in grocery store produce area, with the farmer’s market wood-look plank floors, but it’s coming on strong in residential applications,” said Daechsel.  “It’s durable, with a realistic look and feel – plus it’s warm and soft to walk on.”

Similarly, the LVT can be installed with grout to fully mimic ceramic tile or other natural scuffs, stains and gouges and start at about $4 per square foot, making it a popular choice for homeowners updating their kitchen decor either as a DIY project or with professional installation.

St. Albert Gazette, Saturday March 29, 2014, article by Lucy Haines, At Home 

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