Lacombe Park St. Albert Real Estate Statistics for February 2021

A total of 9 homes SOLD in Lacombe Park this month. The highest priced home SOLD in Lacombe Park this month was a 5 bed, 4 bath, 2570 square foot home for $770642, and the lowest was a 3 bed, 2 bath, 817 square foot home for $350000, bringing the average to $550349 for 4 beds, 3 baths, and 1674 square feet. 

 
CLICK HERE! to view all current Lacombe Park homes for sale by Don Cholak.
 

Sell your Lacombe Park home:

Ready-to-sellAre you looking to sell your home in Lacombe Park? Don Cholak has decades of expertise and experience in Lacombe Park and is ready to help you sell your Lacombe Park home today! Just click the big red button above or call Don at 780-718-8400.
 

Buy a home in Lacombe Park:

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Are you looking to buy a home in Lacombe Park? Don Cholak is an expert and experienced Realtor in Lacombe Park and can help you find the perfect home in Lacombe Park today! Just click the big red button above or call Don at 780-718-8400.
 

Mission St. Albert Real Estate Statistics for February 2021

A total of 2 homes SOLD in Mission this month. The highest priced home SOLD in Mission this month was a 4 bed, 3 bath, 1137 square foot home for $315000, and the lowest was a 3 bed, 2 bath, 3586 square foot home for $286018, bringing the average to $300509 for 4 beds, 2 baths, and 2362 square feet. 

 
CLICK HERE! to view all current Mission homes for sale by Don Cholak.
 

Sell your Mission home:

Ready-to-sellAre you looking to sell your home in Mission? Don Cholak has decades of expertise and experience in Mission and is ready to help you sell your Mission home today! Just click the big red button above or call Don at 780-718-8400.
 

Buy a home in Mission:

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Are you looking to buy a home in Mission? Don Cholak is an expert and experienced Realtor in Mission and can help you find the perfect home in Mission today! Just click the big red button above or call Don at 780-718-8400.
 

North Ridge St. Albert Real Estate Statistics for February 2021

A total of 8 homes SOLD in North Ridge this month. The highest priced home SOLD in North Ridge this month was a 5 bed, 4 bath, 3162 square foot home for $707500, and the lowest was a 4 bed, 2 bath, 1026 square foot home for $369500, bringing the average to $524250 for 4 beds, 3 baths, and 1895 square feet.

CLICK HERE! to view all current North Ridge homes for sale by Don Cholak.

Sell your North Ridge home:

Ready-to-sellAre you looking to sell your home in North Ridge? Don Cholak has decades of expertise and experience in North Ridge and is ready to help you sell your North Ridge home today! Just click the big red button above or call Don at 780-718-8400.

Buy a home in North Ridge:

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Are you looking to buy a home in North Ridge? Don Cholak is an expert and experienced Realtor in North Ridge and can help you find the perfect home in North Ridge today! Just click the big red button above or call Don at 780-718-8400.

Oakmont St. Albert Real Estate Statistics for February 2021

A total of 3 homes SOLD in Oakmont this month. The highest priced home SOLD in Oakmont this month was a 4 bed, 3 bath, 1605 square foot home for $500000, and the lowest was a 3 bed, 3 bath, 1733 square foot home for $445000, bringing the average to $408300 for 4 beds, 3 baths, and 1665 square feet. 

 
CLICK HERE! to view all current Oakmont homes for sale by Don Cholak.
 

Sell your Oakmont home:

Ready-to-sellAre you looking to sell your home in Oakmont? Don Cholak has decades of expertise and experience in Oakmont and is ready to help you sell your Oakmont home today! Just click the big red button above or call Don at 780-718-8400.
 

Buy a home in Oakmont:

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Are you looking to buy a home in Oakmont? Don Cholak is an expert and experienced Realtor in Oakmont and can help you find the perfect home in Oakmont today! Just click the big red button above or call Don at 780-718-8400.
 

Riverside St. Albert Real Estate Statistics for February 2021

A total of 2 homes SOLD in Riverside this month. The highest priced home SOLD in Riverside this month was a 5 bed, 4 bath, 2426 square foot home for $517490, and the lowest was a 4 bed, 4 bath, 1733 square foot home for $482500, bringing the average to $500 for 4 beds, 4 baths, and 2080 square feet. 

 
CLICK HERE! to view all current Riverside homes for sale by Don Cholak.
 

Sell your Riverside home:

Ready-to-sellAre you looking to sell your home in Riverside? Don Cholak has decades of expertise and experience in Riverside and is ready to help you sell your Riverside home today! Just click the big red button above or call Don at 780-718-8400.
 

Buy a home in Riverside:

Ready-to-buy
 
Are you looking to buy a home in Riverside? Don Cholak is an expert and experienced Realtor in Riverside and can help you find the perfect home in Riverside today! Just click the big red button above or call Don at 780-718-8400.
 

Woodlands St. Albert Real Estate Statistics for February 202

A total of 1 home SOLD in Woodlands this month. The home SOLD in Woodlands this month was a 4 bed, 3 bath, 1809 square foot home for $499900.

CLICK HERE! to view all current Woodlands homes for sale by Don Cholak.

Sell your Woodlands home:

Ready-to-sellAre you looking to sell your home in Woodlands? Don Cholak has decades of expertise and experience in Woodlands and is ready to help you sell your Woodlands home today! Just click the big red button above or call Don at 780-718-8400.

Buy a home in Woodlands:

Ready-to-buy

Are you looking to buy a home in Woodlands? Don Cholak is an expert and experienced Realtor in Woodlands and can help you find the perfect home in Woodlands today! Just click the big red button above or call Don at 780-718-8400.

RE/MAX Commercial Report 2021

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EXECUTIVE SUMMARY
The RE/MAX Commercial Real Estate Report, highlighting trends and developments in seven major centres in Western Canada, found that institutional investors and private equity played a substantial role in almost every market in 2020, fuelling demand for multi-unit residential, industrial product, and office buildings while end users and smaller investors were strong in the industrial and, to a lesser extent, retail sectors.

Industrial was the top performer from Vancouver to Winnipeg, driven by increased demand for warehouse and fulfillment space from multi-national companies such as Amazon and FedEx, while demand for multiunit residential remained consistent, with higher CAP rates and lower values attracting investors in markets like Edmonton and Calgary. Farmland rounded out the top three sectors, with robust demand in Saskatchewan sparking strong sales and upward pressure on values.

Closure of bricks and mortar during lockdown and the acceleration of e-commerce placed retail tenants behind the proverbial eight ball in 2020. Smaller retailers used the opportunity to invest in their future by purchasing smaller storefront locations, especially in high-traffic areas – with equity gains buffering any downturn in sales. Others looked to upgrade their online presence and augment with a reduced physical footprint, and if need be, industrial space for warehousing and distribution.

While restaurants were hard hit by the pandemic, drive through locations emerged as 2020’s perfect business model — no touch, no contact, just tap and go. Demand for this product has surged in Saskatoon, Kelowna, and Calgary, and is expected to continue to experience strong
demand in the year ahead.

Limited inventory, shortage of available zoned land, and strong demand overall have made industrial real estate the cash cow of 2020. Vacancies remain low for industrial product, with Vancouver posting the tightest rate at under 1.5 per cent, and rental rates climbing 10 per cent year-over-year. Large multinational companies have been behind the push as they gear up efforts to support a rapidly expanding e-commerce industry. Smaller investors have also been active, as the appetite for income properties in industrial areas that serve strong supply chains and essential services increases in strength. Diversification of smaller portfolios is underway as investors choose to supplement their residential multi-unit residential holdings with industrial product, and to a lesser extent, office/retail.

EDMONTON
After posting $1 billion in regional sales volume in the first quarter of 2020, the Greater Edmonton Area was off to one of the strongest starts in recent years for commercial real estate when the pandemic hit. Second quarter sales plummeted, and despite encouraging upward momentum in the third and fourth quarters, the market finished the year with $2.2 billion in sales, down approximately 33 percent from 2019 levels ($3.3 billion).

Private equity was most active in the commercial market, driving approximately 53 percent of top ten sales across five asset classes in 2020, followed by end users at 37 percent. While most investors were local/regional, approximately 40 percent of sales were from out-of-province, led by British Columbia and Ontario. The highest priced sales occurring in the multi-family and retail sectors involved institutional investors based in Ontario, while the most expensive office sale involved private investors from British Columbia. The aforementioned sales were valued at $305 million, $205 million and $100 million, respectively.

Multi-family residential was quite strong out of the gate in 2020. Overall sales volumes rose year-over-year, with larger deals completed in the first quarter of 2020. Highrise sales were nearly five times higher in 2020 than the prior year, but again, the bulk were completed in the first quarter and pre-pandemic. This, while both walk-up and townhouse segments saw a decline in sales volume. Some of these deals have been pushed into 2021, which should bode well for sales in the year ahead.

Special purpose sales also posted strong gains in 2020 ($233 million), with over half of sales/transactions from either assisted-living centres (the bulk of which occurred in Q1 2020) or automotive dealerships. Automotive dealerships also helped to propel 2020 special purpose sales, with a pandemic-driven consolidation worth over $50 million in sales.

Although industrial real estate is traditionally a perennial favourite with commercial investors in the Greater Edmonton Area, multi-bay sales were down by nearly 80 per cent and single-tenant sales decreased by 65 per cent. Owner/users were the one bright spot in this asset class, with sales volumes holding relatively steady in 2020, compared to 2019. There has been an upswing in demand for new warehousing and distribution centres, in large part due to surging e-commerce sales. Two Amazon centres totalling 1.1 million sq. ft. recently opened in Leduc County, while another 1.2 million sq. ft. is currently under construction in Acheson. This rising trend in e-commerce is expected to spark increased levels of purpose-built rentals and build-to-suit projects.

While retail property sales were down overall in 2020, retail condominiums showed a slight uptick in sales volume ($45.4 million versus $44.7 million) with 18 more transactions in 2020, compared to the previous year. The increase highlights a growing trend of owner
acquisitions, while shopping centre and general retail sales were down 30 per cent and 25 per cent respectively. It is very important to note that retail spending in Alberta has surpassed pre-COVID levels on a monthly basis since the summer of 2020 at over $7.1B (as last reported Nov. 2020).

Office sales were down across the board in Edmonton, with both suburban and condo sales decreasing by 20 per cent and 50 per cent respectively. Sales volumes in the downtown core dropped 75 per cent. Despite the decline in both sales and volumes, there were no ‘fire
sales’ occurring in the market — even the recent sale of the CN building that created headlines for its $10 purchase price involved the purchasers assuming $64 million in debt.

With 80 percent of office tenancy currently working from home, investors are closely scrutinizing the sector. Overall vacancy rates were at approximately 18 percent at year-end, with no new significant construction coming on-stream. While most commercial real estate specialists believe that the majority of office occupancy will return to the workplace once vaccines have been distributed across the country, the office landscape may see some changes moving forward, with remote access becoming more prevalent for those work processes that can support it. Businesses will likely be working on contingencies that address the new mix throughout the year, with some potentially embracing a remote/office hybrid.

Economic stability will go a long way in improving consumer confidence and the overall picture for the commercial market in the aftermath of COVID-19. E-commerce is here to stay and will likely play a growing role in the future of retail. Trends toward pick-up and delivery, particularly in the retail sector, will accelerate. The industrial “last mile” will tackle logistical challenges in terms of getting parcels to destinations in high-density areas like the downtown core or alternatively outlying suburban areas. This segment of the market may see high-tech solutions with the introduction of drone deliveries for example.

In terms of new construction, COVID has definitely redefined building requirements. Future apartment developments will likely feature an increasing number of units with balconies and more outdoor space. Single detached home sales will also flourish as consumer demand for greater and greener space will take hold, aided and abetted by historically low interest rates.

Recovering oil prices, bitumen upgrading/processing, and innovative new ways to transport oil should have a positive impact on economic growth moving forward. According to the Provincial Outlook published by RBC Economics in December 2020, real GDP growth in Alberta will climb 4.5 per cent in 2021 and another 4.3 per cent in 2022. Although the report specifically targets concerns over the performance in the provinces commercial real estate sector, an improving economy and rising consumer confidence will play a major role in boosting the overall health of the province.

244, 45 Inglewood Drive : St. Albert : E4230091

Welcome to this 2 bedroom, 2 bathroom, 1259sq.ft condo in Inglewood!
 

 

MLS#: E4230091 OUTSTANDING and PRISTINE! You won’t find another condo like this in St. Albert! A lot of thought and care went into the more than $100k of renovations to this 2 BEDROOM, 2 BATHROOM second-floor unit! It also has 2 BALCONIES, CENTRAL A/C, and HEATED UNDERGROUND PARKING, all in the only complex in St. Albert with a POOL! Showcasing beautiful ENGINEERED HARDWOOD floors throughout, custom silk curtains and custom remote-controlled Hunter Douglas blinds on all the windows, 9-foot ceilings and a bright, open concept! The SUPERIOR CUSTOM KITCHEN boasts GRANITE COUNTERS and backsplash, and Genie pullouts and soft-close doors on all the cabinets. In the MASTER SUITE you’ll find a luxurious 3-piece ensuite leading to the walk-in CUSTOM CALIFORNIA CLOSET! The second bedroom also features a custom California closet and access to the main 4-piece bath. The IN-SUITE LAUNDRY boasts a Bosch washer and ventless dryer. All of this in a complex featuring a pool, hot tub, sauna, exercise room, workshop, and more!
 
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Don’t Spend A Fortune Installing Charging For Your New Electric Car

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After you get your car, you want to install home charging for it where you park it (ie. your garage or driveway.) If you can’t install any charging at all, because you park on the street or in an apartment parking garage, then you face a challenge. If you can charge at your office (often for free) that’s great, though not without other issues. If you can’t do either, I don’t currently recommend purchase of an electric car, at least for now.

But you may find when you call an electrician and ask to install a nice Level Two charging station with a 50 amp circuit that they present a very expensive estimate — perhaps $5,000 or more — because you will need to upgrade the electric service into your home. Older homes often have only 100 amps of service, and electrical codes don’t let you exceed a given quota of devices and loads on them. Without going into the full formula, if you get 80 amps worth of 240v devices on a 100A panel you probably go over the limit. If you have things like a 30 amp dryer, a 30 amp electric oven, or an air conditioner or pool pump or other such device, you can easily go over the limit. Your electrician will tell you that you need to bring in new service from the power company (typically 200 amps) as well as whole new power panel. On top of that, they will need to run a line capable of 40 to 50 amps to your parking spot, and install a 50 amp plug (cheap) or hardwired wall EVSE (”charger”).

If you have newer service, fear not, you don’t need to change the panel, and you can just add a new circuit. If the wire is not that long, getting that plug may not cost that much. Sadly, many see a more expensive estimate. How can you get away from it? The answer is that while it’s nice to have enough power to recharge a car from zero to full in one night, you don’t actually need nearly that much.

Charging at Level One
The average car is driven only 40 miles/day. The Level One charger (which usually comes with almost any electric car) plugs into a dedicated standard house plug, and can deliver 12 amps. This means it will deliver 40 miles in an 8-hour overnight charging session. Most people have their car at home for much more than an average of 8 hours. So generally, even with this very slow charging, you will keep up. On the days you drive more, you won’t recharge fully, but as long as you don’t keep doing long days several days in a row, you will eventually make it back. (How quickly depends on whether you must limit charging only to off-peak electrical times.)

(If you are one of those people with a 100 mile commute, this is not going to work for you, and you may have to bite the bullet and get a new electrical service. But most people don’t go that far.)

Of course, adding 50 miles/night, sometimes you won’t have enough. For many, these times will be just a handful per year. Then, the fast chargers like Tesla superchargers can be your solution. This is OK if it’s not a common event. Other solutions can include charging at work. If you don’t commute, or have a round-trip of 20 miles or less, this solution will actually probably work for you — and it might even be free if you have a dedicated circuit plug in your parking spot. It has to be dedicated — nothing else on that circuit breaker.

In some cases, the dedicated plug may actually have a 20 amp breaker and 12AWG wire on it. In that case, the plug may already have the “T” slot in it that says it is 20 amp. Get the 20 amp plug (which Tesla sells and some other chargers sell) and you will see 50 miles or more in an 8 hour night, and you’ll definitely catch up with average driving.

At first blush, when you read that charging a 250 mile range car on Level One can take over two days you will think Level One is ridiculous, but in reality, the bigger the battery the more it can take the swings up and down and still leave you with enough capacity to do your driving. It’s the small battery car that absolutely needs to get to full every night. The large battery car doesn’t.

It should be noted in very cold climates this slow charging may not cut it due to the need to heat batteries and the larger drain of driving in the cold.

Charging at slower Level Two
A Level Two circuit runs at twice the voltage and usually at higher current. In fact, you can install these able to do up to 80 amps. For most people though, you don’t need nearly that much. You will be very happy with enough to restore about 60% of your battery, because your typical daily cycle should run from 20% to 80% full. On a 240 mile Tesla Model 3, you can get that in 8 hours with just 5 kw, which is what you get from a 30 amp plug, the same one that runs your dryer. (On any plug, the car charges at 80% of full current, in this case at 24 amps.) Such a circuit is going to fully restore you on almost any day you drive, particularly if you have more than 8 hours at home. You really don’t need it faster. The regular range Tesla can’t take more than 32 amps in any event (ie. a 40 amp circuit) but you just don’t need even that. If you can get it, of course you should take it, but you should not spend thousands to get that extra boost.

Your electrician might tell you you need a new panel for a 50 amp plug, but that you can put in a 30 amp or 20 amp without a new panel — which can save you a fortune.

That 20 amp Level 2 charger will recover about 14 miles for each hour you charge, or around 110 in an 8 hour night. That’s more than enough for most people — again remember that the average car does 40 miles per day. You will find a few days or stretches of days when you don’t get full, but you might find only a couple of days a year that the supercharger is called for. Again, you don’t want to be slow, but if it will save you $3,000 to go with 20 amps instead of 50 amps, then do it. Ask your electrician to install a “6-20” plug which has 240v at 20 amps. It uses a horizontal pin (like the 20a pictured above) but on the other side. Get that adapter for your car.

If you have a truly dedicated plug (it is the only thing on a breaker) then in many cases an electrician can, for not much money, replace a regular 120v socket with a 240v stocket for twice the charging rate, changing the plug and breaker as long as the wiring is rated for the higher voltage. Ask about that — it can almost surely fit your panel’s load maximum. (While the USA runs on around 120v for normal plugs, and much of the rest of the world runs on 220v, US homes can install 240v plugs and there is a well established standard for doing it.)

Sharing with your dryer
Most houses have a 30 amp electric plug for your dryer. It may be easy for you to switch to a natural gas dryer, particularly if you are in the mood for a new dryer. They cost only a little more, but they cost a fair bit less to run, and as such they save money in the long run. They also cost the same day and night. You do need to get a natural gas line at your laundry room. Adding that can cost real money — or be cheap — depending on how far it has to come. Perhaps you can even sell your electric dryer to somebody on Craigslist.

If you do this, you remove 30 amps of load from your house, and now you can add a 30 amp line for your car without needing a service upgrade. Your electrician can also in some cases just run a line from where your electric dryer plug is (was) to where your car is. This is more than enough power for your needs, and even though a new gas dryer is not free, it can be the cheapest option of all.

You can also buy a device called a “Dryer Buddy” for about $350 which lets you plug your car and dryer into the same plug, if your car parks close to your dryer. This device simply sees when the dryer is on, and shuts off car charging when it is. This is also a relatively cheap solution. Unless you run your dryer after midnight you won’t even notice sharing the plug.

A smart charger
In truth, while the electrical code demands that your house be able to handle everything being turned on at once — dryer, oven, air conditioner and car — the reality is you never need to actually do that. If car chargers were smart, they would come with circuits which detect when the other devices are on, and reduce or stop car charging when that’s happening — which is a very rare event. Such chargers would let everybody install car charging without a service upgrade. Sadly, they are not yet to be found. There is a device made in Canada called the DCC-9 which can go in your electrical box and it shuts off power to the charger when other appliances are on. Sadly, it costs around $1,000, when this is something that should come for almost free in the charger. But that can be much cheaper than service upgrade. Some day this technology may become lower cost and easier to install. An open source device known as SmartEVSE is able to do this but requires some more advanced set-up knowledge.

What about the high end?
This advice is for those with a 100 amp service in their house. If you have larger service, like 200 amps, there is no reason not to install a nice circuit to a 50 amp plug, known as the 14-50 plug — the same one big RVs use. You can’t use all of it, but you might buy a bigger electric car in the future, and you might even buy two electric cars, and wish you could get 60 or more amps. Price out getting bigger wire than you need, it may only add a modest amount to the price of your install. Tesla Wall Connectors have a nice feature which allows them to “daisy chain” and share the power between two of them when you have two Teslas.

Even if you go for one of the cheaper plugs described, like the 6-20, you should run thicker wire to it able to handle 30, 40 or 50 amps. Price it out. If you do, and later you do upgrade your house service, you won’t need to rewire that circuit to get that maximum power.

Of course, there can be other reasons to increase the service on your house. It’s a bit safer, and can offer room for other expansion you might do in the future, such as more cars, air conditioning, a hot tub and other things. All those reasons might justify the upgrade — the main point of this article was to examine when the car alone doesn’t need it.

By the way, if your employer gives you free charging at work, then of course take advantage of that perk. It may mean a bit less convenience when you park, or it may mean a premium spot. Even so, you should still have at least Level One at home, since that’s cheap. That will keep you boosted on weekends and holidays.

When you charge
Your power company may offer you “time of use” billing for power. This means that instead of paying a flat rate all day, you pay higher rates at peak times (usually afternoons and early evenings) and lower rates at off peak times (nights and sometimes mornings.) It all balances out except when you can move power usage to the off peak time. If you charge a car at night, that’s just what you do, and this is a big win for car owners. In fact, in California and some other places, owners of electric vehicles can request a special “super time of use” rate which is even cheaper at night and only available for EVs. The good news, if you get this rate, is you pay a very low price at night for your car. The bad news is that the rate in the day is quite high, and you will want to avoid things like running the dryer then. If you do a lot of air conditioning it may not be a win, but it usually is.

The other downside is that you don’t charge your car during the peak, so that if you do only have Level One, there will be fewer hours in the day you can recover. If you can charge 24 hours a day, even Level One can add a lot of power per day on the days when the car stays at home.

Home Seller Checklist

Source: RE/MAX

If you’ve been thinking about selling your home, now’s the time. Low interest rates and increased time spent at home have created a large pool of buyers looking for homes. However, that doesn’t mean you shouldn’t still put your best foot forward. Before your home goes on the market, make sure you’ve crossed off these preliminary steps.

Declutter
Limiting the amount of clothes, furnishings, and other “stuff” in the house will help buyers envision their own items in the house as well as make your home appear more spacious.

Landscape
If your lawn is a little sparse or the bushes a bit overgrown, now is the time to fix it. Landscaping takes time, so get started a few months before you’re ready to list.

Make Repairs
If you have a loose banister in the stairwell, uncovered sockets, or a light switch that doesn’t work, go ahead and bring someone in to repair those items. Buyers may see small cosmetic problems or items in need of repair and assume there are problems they aren’t seeing. Make sure your home looks and functions well to attract the most buyers and the highest price possible.

Whatever 2021 has in store for you, whether it’s buying, selling, or sprucing up your current home, I’m here to help!