Buying Foreclosures in Edmonton, Alberta

What Is A Foreclosure?

A foreclosure or foreclosed home is when someone who borrowed money secured by a mortgage on a property stops paying and the lender wants to realize their security. Essentially the lender applies to the court for an order transferring the security (the property) into the name of the lender. The lender may then sell the property to pay back the loan.

What Is A Judicial Sale?

People frequently refer to a judicial sale as a foreclosure. There is a key difference. With a judicial sale, the court sells the property. The proceeds of the sale pay off the loan or as much of it as possible. The court also attempts to sell the property as close to fair market value as possible. The title to the property never transfers to the bank or financial lender. In a judicial sale, the borrower, usually the homeowner, retains a right of redemption. This means that they have the opportunity to bring the mortgage current and keep the house.

How to Buy a Foreclosure

Foreclosed properties, like the vast majority of Edmonton homes for sale in our province, are listed on the Edmonton MLS board. When the listing comes on the market, we will see it – and so will you, if you have signed up with us to receive new listings. Every foreclosure, estate sale or bank-owned property, will be a little bit different when putting in an offer. Depending on the rules and regulations set forth by the lender, the court or the executor. Some foreclosures in Edmonton mush be cash unconditional offers, while others are treated the same as any other property.

Pros and Cons of Buying Foreclosures

Foreclosure and Judicial sales of Canada homes are more common in the United States. However, if you have been living in Alberta for a while, you will be well aware of our surplus of Edmonton foreclosures from the crash of our economy in 2007. It is now 2020 and Alberta house prices have not changed since. Before you start looking into buying a foreclosed home, it’s important to understand the inherent benefits and risks involved.

Pros:

  • The lender, eager to recuperate their loss, will want to sell the property quickly and is usually priced below its true market value. If you buy a foreclosed house, it is sometimes possible to get an even lower price. Any liens, backdated taxes, or outstanding mortgage payments remaining on the property will be expunged, as these factors would make it harder for the lender to resell the home. At the time of closing, your real estate lawyer will make sure your title is free and clear of all encumbrances.

Cons:

  • While foreclosed properties can be cheaper, they are not rock-bottom prices, as you might have heard. More often than not, you would acquire the home at only a slightly cheaper price than it was initially unless you have done your homework. Knowing the absorption rate and having your Realtor complete a buyer's comparative market analysis for you will help determine whether or not you have made a great investment.
  • The legal and financial procedures for buying a foreclosed home are more strict and complicated than the average home sale. Although your real estate lawyer will make sure your title is clear at the time of closing, it is a good idea to double-check your property title a few months after you move into your home. Not all of the old sellers' creditors know the house foreclosed.
  • Foreclosed homes are sold in a “what you see, is what you get” state, meaning you’ll have to cover all repairs or renovations by yourself. You’ll also have to get rid of any possessions that may have been left behind. This means if a stove was in the property when you last viewed it and now, it is gone, there is really nothing that can be done.
  • The terms of the mortgage contract may absolve the lender from any of these responsibilities, as well as any future liability for the property. If there are a foundation, hydroelectricity, or zoning problems, they are your responsibility. No warranties will be offered. It is a good idea to have a property inspection on a foreclosure prior to making an offer.

Hire an Experienced Realtor

Since buying a foreclosed home is more complex, having a professional realtor will be more necessary than ever. Not only can they help you find the right property, but they’ll also facilitate and guide you through the whole process. There are a lot of different steps you’ll need to go through, including inspection and a court date.

Tips on moving into a foreclosure

  • Consider the significant costs involved with buying a foreclosure home. Remember, a foreclosed property might need some work before it’s safe to live in. If you can’t afford these costs (as well as your payments), hold off until you can find a more suitable property. Consider the expenses that don’t even relate to the initial price, such as:
  • Utilities that need to be switched on as soon as possible - make sure you have ownership documentation. The previous owners may have outstanding utilities and you don't want to pay for them.
  • Change the locks. The sellers will not be happy they have lost their home to foreclosure, or the bank may have had tenants living there for a while.
  • Plan on doing a bit of landscaping. The grass may not have been cut for months and there could be doggie bombs in the yard.

Common Questions About Buying an Edmonton Foreclosure

#1. Can I get a mortgage on a foreclosed home?

  • Yes, you can. In most cases, purchasing a foreclosed home is an investment rather than a first home, so chances are you already have a pre-existing mortgage. If you don’t, contact us and we will help you through the process of getting a mortgage with one of our lenders so you can start searching for your first investment property.

#2. What is the risk of buying a foreclosed home?

  • Just like any type of real estate investment, buying a foreclosed home does come with a certain amount of risk. Being educated about the most common mistakes that buyers make when purchasing a distressed home will help you navigate the sometimes tricky world of foreclosure sales.
  • Don’t offer too low of a starting price. If you offer too low a price you will be rejected before ever getting to the auction stage of the foreclosure process. To avoid this common mistake, work hard with your Realtor to offer a realistic initial amount.
  • Never assume that your offer will be the only offer. You may need to adjust your original price if you want to pursue that bank-owned property.
  • Be prepared to lose in court. You may be outbid and end up losing your foreclosure sale at the very last minute.
  • Be prepared for some of the major risks. These include not receiving the home in the same condition as when you first viewed it. Another risk is that tenants still occupy the property when you take possession and may have to be forcibly removed.

#3 Do foreclosures get price reductions?

  • The longer a foreclosure sits on the market, the less money the bank is willing to take for that specific property, so sometimes patience is the key to saving large sums of money! Depending on the circumstances, the general rule is that the asking price will be adjusted once every 30 days to help generate interest in the property. Some foreclosed homes have sat vacant for months and even years.
  • The longer a foreclosure sits on the market, the less money the bank is willing to take for that specific property, so sometimes patience is the key to saving large sums of money! Depending on the circumstances, the general rule is that the asking price will be adjusted once every 30 days to help generate interest in the property. Some foreclosed homes have sat vacant for months and even years.

#4 How long does it take for a response, once I have written an offer?

  • In Alberta, the Real Estate Act favours settling foreclosures via a judicial sale, where a lender can only accept an offer to buy a property in foreclosure by going to court. The process can take days to several weeks, meaning other interested buyers can also write an offer after you have already submitted yours.

#5 Is a foreclosed home a good investment?

  • A foreclosed home can be a great real estate investment if you understand all of the costs associated with the project. A general guideline is that you should never pay more than 80% of the property’s estimated market value including any needed repairs.

Edmonton Foreclosure Summary

If done right, a foreclosed home can be a wise real estate investment that can provide you with an excellent rate of return.  Remember that every foreclosure sale is an “as is” sale, meaning: what you see on completion date is what you get. All of this information will be presented to you in a Schedule A form, make sure to go over it and understand it with your Realtor!


Our team of real estate and lawyers help when people buy foreclosures in Edmonton and the surrounding area. We help explain the risks of buying a foreclosure. We also explain how to mitigate that risk. Always seek this information and advice before signing any contract to purchase such property in Alberta. Connect today! Email your questions here directly. Also, feel free to call us at 780-910-5179.

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How many homes sold in Kaskitayo Edmonton?

Kaskitayo real estate sales statistics for July-September 2020

Kaskitayo home sales include the communities of Aspen Gardens, Bearspaw, Blue Quill, Duggan, Ermineskin, Greenfield, Keheewin, Rideau Park, Royal Gardens, Skyrattler, Steinhauer, Sweet Grass, Twin Brooks and Westbrook Estate in southwest Edmonton.


According to the REALTORS® Association of Edmonton for this 3rd quarter, the average price for single-family homes absorbed in the Edmonton region decreased by 3% year-over-year in August to $551,619. In southwest Edmonton, there were 99 houses sold in September,129 in July and 109 houses sold in August.


For the city of Edmonton, there were a total of 2236 new listings, 1309 sales with an average single-family sold house price of 447,725 in September. In August 2167 new listings, 1280 sales with an average house price of $446,982. July there were 2,391 new listings with 1524 home sales and an average sold house prices at $445,351.


Kaskitayo Edmonton Sold Houses


Recent Kaskitayo Home Sales:


There were a total of 153 homes sold in Kaskitayo in the third quarter of 2020 with an average of 39 days on the market. This year, there have been a total of 244 Kaskitayo houses sold with a median sale price of $476,700


In July 2020, there were 58 Kaskitayo homes sold including 6 townhouses, 3 duplexes, 19 condos and 7 single-family in Duggan. Sold Kaskitayo house prices in July range from $323,000 to $697,000.


In August 2020, there were 49 Kaskitayo homes sold including 9 in Twin Brooks, 5 Greenfield bungalows and 3 luxury properties, one with over 5400 square feet. Sold Kaskitayo house prices for the month of August range from $335,000 to 1,100,000.


In September 2020, there were 46 Kaskitayo homes sold including 14 condominiums, 2 luxury properties and 17 bungalows. Sold Kaskitayohouse prices in September range from $286,000 to $1,415,000.


Want to know what is selling in Kaskitayo this month? Sign up for free and we will send you Kaskitayo house sales as they happen.


view Riverbend real estate statistics


view Terwillegar real estate statistics


view current Kaskitayo MLS® real estate listings

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How many homes sold in Riverbend Edmonton?

Riverbend real estate sales statistics for July-September 2020

Riverbend home sales include the communities of Brander Gardens, Brookside, Bulyea Heights, Carter Crest, Falconer Heights, Henderson Estates, Ogilvie Ridge, Ramsay Heights and Rhatigan Ridge in the southwest of Edmonton.


Riverbend Edmonton Sold Houses


According to the REALTORS® Association of Edmonton for this 3rd quarter, the average price for single-family homes absorbed in the Edmonton region decreased by 3% year-over-year in August to $551,619. In southwest Edmonton, there were 99 houses sold in September,129 in July and 109 houses sold in August.


For the city of Edmonton, there were a total of 2236 new listings, 1309 sales with an average single-family sold house price of 447,725 in September. In August 2167 new listings, 1280 sales with an average house price of $446,982. July there were 2,391 new listings with 1524 home sales and an average sold house prices at $445,351.


There were a total of 66 homes sold in Riverbend in the third quarter of 2020 with an average of 58 days on the market. This year, there have been a total of 101 Riverbend houses sold with a median sale price of $604,400. 


Recent Riverbend Home Sales:


In July 2020, there were 34 Riverbend homes sold including 3 duplexes, 3 condominiums, 7 luxury properties with Rhatigan Ridge being the most popular community. Sold Riverbend house prices in July range from $605,823 to $1,110,000.


In August 2020, there were 17 Riverbend homes sold including 2 bungalow style duplex condos in Bulyea Heights and 2 luxury properties. Sold Riverbend house prices for the month of August range from $436,800 to $973,000.


In September 2020, there were 15 Riverbend homes sold including 3 condos in Brander Gardens, 1 bi-level and 3 older split level properties. Sold Riverbend house prices in September range from $440,000 to $700,000.


Want to know what is selling in Riverbend this month? Sign up for free and we will send you Riverbend house sales as they happen.


view Kaskitayo real estate statistics


view Terwillegar real estate statistics


view current Riverbend MLS® real estate listings

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How many homes sold in Terwillegar Edmonton?

Terwillegar real estate sales statistics for July-September 2020


Terwillegar home sales include the communities of Haddow, Hodgson, Leger, MacTaggart, Magrath Heights, South Terwillegar and Terwillegar Towne in the southwest of Edmonton. 


Terwillegar Edmonton Sold Houses


According to the REALTORS® Association of Edmonton for this 3rd quarter, the average price for single-family homes absorbed in the Edmonton region decreased by 3% year-over-year in August to $551,619. In southwest Edmonton, there were 99 houses sold in September,129 in July and 109 houses sold in August.


For the city of Edmonton, there were a total of 2,236 new listings, 1309 sales with an average single-family sold house price of 447,725 in September. In August 2,167 new listings, 1280 sales with an average house price of $446,982. July there were 2,391 new listings and sales at 1524 and an average sold house prices at $445,351.


Recent Terwillegar Home Sales:


There were a total of 156 homes sold in Terwillegar in the third quarter of 2020 with an average of 47 days on the market. This year, there have been a total of 199 Terwillegar houses sold with a median sale price of $513,433.


In July 2020, there were 70 Terwillegar area homes sold including 13 apartments, 6 rowhouses, 6 bungalows, 10 duplexes and 6 luxury properties. Sold Terwillegar house prices in July range from $300,000 to $1.3 Million.


In August 2020, there were 49 Terwillegar area homes sold including 9 apartments, 4 townhouses, 3 duplexes, 3 luxury properties and 1 hillside bungalow in MacTaggart. Sold Terwillegar house prices in August range from $338,000 to $965,000.


In September 2020, there were 37 Terwillegar area homes sold including 9 apartments, 5 townhouses, 5 duplexes, 5 luxury properties and 1 hillside bungalow in MacTaggart. Sold Terwillegar house prices in September range from $355,000 to $1,140,000.

Want to know what is selling in Terwillegar this month? Sign up for free and we will send you Terwillegar house sales as they happen.


view Kaskitayo real estate statistics


view Riverbend real estate statistics


view current Terwillegar MLS® real estate listings

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Before moving to Edmonton, find a trusted REALTOR® to help you find the right neighbourhood for you, navigate you through the home buying process and help make purchasing a home as smooth as possible. Buying a home can be stressful. Buying a home in a city you don’t know very well, adds an extra layer of stress. Take the time to find the right REALTOR® before you relocate to help make your move easier.


Here are a couple of ways to find a REALTOR® in another city?

  • Ask REALTORS® you know in your current city if they know a REALTOR® in they would recommend.
  • Ask friends or family living in your new city if they have a REALTOR® they would recommend.
  • Search for a REALTOR using REALTOR.ca. Use more search criteria to find a REALTOR® with specific designations (i.e. Canadian Employee Relocation Specialist).
  • Search for a REALTOR online by using Google such as "Edmonton Relocation Realtors".


Here are a few questions to ask when hiring a REALTOR® in another city?

  • Find out the REALTORS® certifications (i.e. Canadian Employee Relocation Specialist or Accredited Buyer's Representative designation, an approved BGRS military supplier).
  • Ask the REALTOR® how they will assist in finding the right neighbourhood for you? Do they specialize in a specific area or work in the whole city?
  • Ask the REALTOR® about the neighbourhood crime rates you are interested in. Before you move you want to have a good idea about the safety of the community.
  • Ask the REALTOR® if they do an in-person buyer consultation to inform you about the buying process and answer all your real estate questions.


Here are a few additional tips to help make your move to a new city smoother.

  • Make notes about what type of neighbourhood you want to live in? Close to the downtown core, suburban, mature or new community, a lake community, estate neighbourhood etc.
  • Make a list of all the things you would like in the neighbourhood you want to live in (i.e. public transit, schools, recreational facility, shopping etc.)
  • If you have school-age children, what type of school do you want them to attend? Public, private, Catholic, Francophone, etc. Do you want them to walk to school or can they take the bus?
  • It’s important to find the right REALTOR® for you before you move to a new city. A REALTOR® will answer all your questions, provide you with the information and insights you need, help you avoid costly mistakes, and make sure you’re heading in the right direction.


Contact Audrey Abuan, Edmonton REALTOR® and Relocation Specialist. 780-910-5179


Related Links

BGRS Posting Questions

IRP Relocation Process

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6 Top Areas to Focus on When Staging Your Home

When selling your home, first impressions are everything and creating a relaxing ambience will lead to a higher selling price. Give your home advantage by taking the time to spruce it up before you list – and whatever you do, don’t forget about these 5 areas when home staging.


Don’t Neglect the Basement

A basement is full of your disorganized piles of junk and a big storage area is a major turnoff to potential buyers. Even if the basement is unfinished, it should be clean and bright. A quick coat of paint on a concrete floor can make the world of difference, as can neatly organized boxes. An empty basement is a million times better than a cluttered one. Rent a storage locker for the weekend and clear it out.

Rearrange the Living Room

If you have got all your furniture pushed up against the walls to make the most of the space, it is not doing much to help sell your home. Instead, try arranging the furniture in your living room in a fashion that encourages conversations rather than just as a place to store the kids’ toys or watch television. If you have a fireplace or a big window, make that the focal point and place the couch, a coffee table and a pair of chairs in an intimate setting. Add a few decorative pillows and drape a textured blanket to add some colour and warmth and keep the coffee and end tables free of clutter.

Declutter the Kitchen

It goes without saying that a kitchen can sell a home, but a messy, cluttered kitchen can also make your home much harder to sell. Emphasize the size of your kitchen by clearing the counters of any small appliances and personal items such as mail and phone chargers. This will make even the smallest countertops seem that much bigger.

Do, however, include colourful props that inspire healthy living, like a curated collection of interesting cookbooks, or a big bowl of lemons and limes. Help people envision their new lives in your home.

Create a Dining Experience

You may only use it once a year, but formal dining rooms should never be neglected. This space can be a great area to focus on when selling your Edmonton home. Start fresh by removing everything from the room except for the essential pieces of furniture like the dining table and chairs. Consider setting the table with complete flatware, napkins, glasses and a centrepiece of fresh flowers or a bowl of vibrant fruit.

Scrub the Bathroom

Sleek and modern bathrooms can help sell a home, but even a dated bathroom can show its best face with a little elbow grease. Get a big box and remove everything from the counters, shower and bathtub before scrubbing the bathroom from top to bottom. Only put back a few essential items like hand soap and some fluffy towels. To help brighten the whole space.

Crucial Entrance

The number one area to focus on when staging your Edmonton home is your entrance and foyer. Buyers usually decide whether or not your home will be in their top choices within& 2 seconds from stepping into your house. Keep this area as decluttered as possible. Put away un-seasonal items and add a decorative mirror and a beautiful house plant.


Read more on staging your Edmonton home

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Getting the Highest Price for Your Edmonton Home

For most Edmonton home sellers, the goal is to sell their property for the highest possible price and in the shortest amount of time. Two ways to achieve this is with the right asking price, and by staging the property. So, do staged homes really sell faster, and for a higher price? The short answer is yes, and here’s why.


Do staged homes sell faster?

According to the Real Estate Staging Association, staged homes spend 73 per cent less time on the market than their un-staged counterparts. Truthfully speaking, even an un-staged home can sell under the right market conditions. An Edmonton seller's market, characterized by high demand and low inventory, generally means buyers are likely to scoop up what they can get. In a buyers market, there are more homes for sale than there are buyers, which means competition is greater among sellers and buyers have the upper hand. Under these circumstances, staging your property could tip the scales in your favour.

Is it worth the price to stage an Edmonton Home?

The answer to this question is not as cut-and-dry, since the final selling price of a home depends on a number of factors. Is there a buyer demand? Are there many other listings on the market competing against yours? And what about the home itself – is it well maintained, cared-for and clean? With all other things equal, a staged home is likely to leave buyers with a better impression than one that has not been staged, with the potential to fetch a higher selling price.

What is home staging?

Home staging is the process of preparing a home for sale by increasing its appeal to a wide range of homebuyers. Home staging is not as involved as a renovation, and can involve decluttering, depersonalizing and deep-cleaning; painting the walls in a fresh, neutral hue; updating hardware and lighting; rearranging existing furniture or renting some new pieces to help show the home in the best possible light. When a buyer can see your home as their home, they are more likely to make a competitive offer.


Since the majority of home buyers start their home hunt online, it’s important to make a good impression through your digital listing photos. Buyers will weed out the homes that don’t meet their criteria and then proceed to an in-person or virtual showing of the homes that they are seriously considering.


Decluttering and depersonalizing the home of family photos and other personal items can help. Also, consider that potential buyers need to think beyond what their eyes are showing them. Staging helps them to visualize themselves living in and using the space. Is the home an ideal place for a growing family, as a live-work space, for recreational pursuits or to enjoy retirement?


Download our RE/MAX home staging guide.

Virtual Home Staging

Virtual staging is an online way to stage a property which leverages technology to digitally enhance photos in order to demonstrate the possibilities. Virtual staging is ideal for vacant properties, which pose added challenges for sellers and the buyers who are trying to imagine it as their new home. Virtual home staging eliminates the need, effort and cost associated with renting or buying furniture and accessories. There are several Edmonton Realtors now using virtual staging on vacant homes.


Staging your Edmonton home does not need to be complicated. Evaluate every room and be objective because prospective buyers will be. Viewing your own home objectively can be difficult, especially for those who have lived in their home for a long time. A professional home stager and your real estate agent can give you an honest opinion as to what works in your home, what doesn’t, and what the seller might consider changing in order to appeal to homebuyers.


Read more on the best rooms to focus on when home staging.

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Can a Real Estate Deal Fall Through Due to COVID-19?

In the wake of COVID-19, there has been a lot of uncertainty this fragility has extended to the Edmonton housing market as many were either mid-deal, planning on buying or selling, or had a project underway. As real estate professionals, we have received a lot of questions regarding the pandemic and the housing market, frequently around real estate agreements and how COVID-19 has impacted such agreements. In this blog, we will answer our most frequently asked questions from both clients and Realtors, about how the pandemic has affected real estate agreements:


1. Can a buyer cancel an agreement due to COVID-19?

The simple answer is no. If a buyer cannot obtain a mortgage, goes into quarantine or the value of the property decreases, these are not acceptable excuses to cancel a real estate agreement. Either terms of an extension are agreed to, or the buyer can be sued for any deficiency the seller suffers on a resale.

2. Can a seller refuse a pre-closing visit due to being afraid of COVID-19?

If the visit is provided for in the agreement, a safe compromise should be worked out, with perhaps only one buyer visiting the home. Such a buyer would be expected to wear a mask and gloves, and only enter the home for a short time (maximum 20 minutes). During such a visit, a buyer should also be required not to touch anything in the home to ensure maximum safety. Another option is for the buyer and seller to agree to a Zoom meeting where the seller goes around the entire house showing the buyer all areas of concern. A final option we have seen is when the seller arranges to vacate the property early on the closing date and have the buyer enter the property for a final inspection. This option provides both parties with a fair final inspection of the home while also leaving enough time to close.

3. Can the Government Land Registry System close down?

While this is theoretically possible, we have been assured by the Director of Titles that this will not occur since the system is being operated by staff who are working remotely. In the unlikely event that this did occur, most real estate closings could still proceed as long as the buyer had title insurance which provides gap coverage, meaning that the agreements can close as scheduled, money can be paid to sellers, keys released to buyer and registrations occurring once the system is up and running again. Gap coverage means that in the unlikely event, a lien or judgment arises in the intervening period, which could affect the title. The buyer’s title insurance policy will remove it.

4. Can a buyer or seller complete a real estate closing without visiting a lawyer in person?

The answer is yes, but not all law firms offer this service. Technically speaking there is no requirement to meet any buyer or seller in person. All document signings can be done by video conference. If a law firm is registered as a bill payee at major banks, buyers can transfer the closing down payment directly to its trust account online, so that they do not have to line up at a bank branch with a mask for an extended period of time to obtain a bank draft. For sellers, this would mean signing all documents by video conference and automatically transferring closing funds by Electronic Funds Transfer directly to the seller’s bank account after closing, the same way real estate commissions are paid after closing.

5. Do you need special clauses to protect buyers and sellers during the pandemic?

Here are three practical clauses to include in any agreement during the pandemic:

  1. The Buyer shall pay the balance of the purchase price, subject to the usual adjustments by wire transfer.
  2. The parties acknowledge and agree that all closing documentation can be signed electronically and forwarded by email or fax in accordance with the Electronic Commerce Act
  3. The parties agree that the keys to the property shall be left in a lockbox at the property and the code to the same is to be provided to the Buyer’s lawyer in escrow pending closing of this transaction.

Otherwise, no further clauses should be added, as they do more harm than good, especially when they give buyers or sellers the right to terminate an agreement. As stated earlier, even in the remote situation that the government registration system goes down, real estate agreements can still close if there is gap coverage in place through the title insurance. Legal advice should always be obtained before any additional clauses are introduced into any real estate agreement of purchase and sale.


This article was supplied by RealEstateLaywers.ca LLP. It is being posted on the blog for information purposes only and does not constitute legal advice nor an endorsement of the author or his firm. Consumers are advised to reach out to and engage their own legal counsel regarding their specific situation.

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If you are not familiar with Edmonton, it is hard to know which neighbourhood is the best for you. Unlike most cities, income demographic communities are sparatic here. It is common to have house prices range by over a million dollars throughout several of our neighbourhoods. It is also common to have a high crime rate only a few blocks away from a low crime rate community. To learn more about each community, feel free to browse each community content.



If you are a nature lover, Edmonton offers several low crime, river valley communities filled with walking trails and bike paths in the southwest enjoy spending time outdoors observing wild animals and plants. If you prefer to be beachfront, go fishing, take out the boat, or be near the water on a daily basis, view homes for sale in Parkland County and Summerside.


For those who enjoy more of a metropolitan lifestyle, homes near the downtown core in Oliver and near Mill Creek are a must to check out. These diverse neighbourhoods are extremely walkable with "mom & pop" shops, restaurants, pedestrian-friendly infrastructure, ample nightlife and the streets are flooded with people during our popular summer festivals.




Each Edmonton community is famous for something. Research your community and learn more. The top five historical districts in Edmonton are:


  • Glenora was originally part of a river lot farm homesteaded by Malcolm Groat, the namesake of Groat Road.
  • Griesbach was the originally military base in Edmonton.
  • Riverbend established in 1970, best known for its luxury houses and beautiful ravines.
  • Mill Creek electoral district wasn't created until 1996. It is named for the Mill Creek Ravine which runs through Edmonton. but is best known for École J. H. Picard French Immersion Catholic School.
  • Kaskitayo communities are named after historical chiefs and were once flooded with bison and buffalo. 
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Residential home sales in Edmonton are up according to the Realtor Association of Edmonton who is awesome at keeping track of residential property sales for Edmonton real estate companies including Remax, who sells 33% of the properties in our municipality and 79% in Sherwood Park, Alberta.



For the month of May, house sales were up 60.08% and condominiums sales increased by 28.14% from April 2020. However, there was a decrease of 4.04% in these home prices compared to last year. With the low-interest rates, recent qualifying changes in CHMC and the re-opening of open houses, Edmonton is sure to have a busy summer holding Edmonton house prices steady.


Edmonton House Prices 2020



Taking into consideration what is happening economically in Canada, this is also a fantastic time to invest in commercial real estate with a surplus of vacant buildings. View more Edmonton house price statistics.

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The Magrath Mansion is a two and one half-storey historical building situated on a large Highlands city lot overlooking the North Saskatchewan River providing amazing views year-round. It was built between 1912 and 1913 with a stately design strongly influenced by the Georgian Revival and Neoclassical architectural styles. The heritage value of the Magrath Mansion lies in its association with Edmonton's pre-World War One building boom.



Prominent features of the Magrath Mansion include the symmetrical front facade, two-storey colonnade supported by robust classical columns, hipped roof with gable dormers, and wraparound porch and balcony that expresses in its lavishness and scale the ebullient optimism.


In the years between the creation of the Province of Alberta in 1905 and the outbreak of World War One in 1914, Edmonton experienced substantial real estate, commercial and economic growth. Among the most significant figures during this time period were Bidwell Holgate and William J. Magrath, who both built mansions in this area. Unfortunately in the early 1930s, the Magrath family had fallen behind in the payment of property taxes and the home was seized by the local sheriff.


This entrepreneurial pair established a real estate company in 1909 and was involved in numerous projects to create residential areas for Edmonton's growing population. Their most ambitious undertaking was the creation, development, and promotion of Highlands, a subdivision located in the northeast Edmonton. Envisioned as an exclusive preserve of our municipality burgeoning entrepreneurial and professional class, Highlands was graced with such genteel luxuries as minimum building standards, streetcars, concrete sidewalks, street lighting, and sewer and water mains.


The impressive colonnade home with robust classical columns crowned by Ionic capitals is a bold expression of the Neoclassical architectural vision. The interior was equally ostentatious, graced by a variety of exotic materials - including mahogany, Italian marble, hand-painted silk and linen wallpaper, and Bohemian crystal. You will impress your friends with the architectural details like the French chandelier in the reception area, the winding oak staircase to the second floor, the fireplace faced with hammered brass in the library, and the intricately painted, and sculptured plaster ceiling in the dining room.


The historical Magrath Mansion is located at 6240 Ada Boulevard, Edmonton, Alberta, T5W, Canada. It is situated in Highlands and not in the southwest community of Magrath Heights.


View interior photos of this historical home.


Source: Alberta Culture and Community Spirit, Historic Resources Management Branch (File: Des. 323)

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YES! Edmonton properties are still being sold! While the real estate market has slowed down, people are still buying and selling homes in Edmonton.

Buying & Selling in Edmonton during COVID-19



Tips for Buying During COVID-19

1. Check out virtual Open Houses

If you were planning on visiting an open house during this pandemic - sorry not allowed. There are however online virtual tours you can take advantage of. We know its not quite the same, so if you really want to view a property, contact us and we will ensure all precautions are in place while viewing.

2. It's a Blessing in Disguise

Timing is everything when it comes to money, this is a perfect time to be purchasing any real estate from single-family homes to rental investments to leasing commercial property. There are some sellers who need to sell their houses and are willing to take a loss. Plus interest rates right now in Canada are unbeatable. 


Tips for Selling Edmonton During COVID-19

1. Don't Rely on Virtual Evaluations

Pricing is everything right now. An experienced Realtor will still need to see your home in person to price it properly in today's market. Although the agent's presentation can be done via skype, on the phone and through email documentation, an accurate selling price can only be provided when the agent physical looks at your property. Once they have viewed your home, then the agent can provide professional advice for maximizing your sold price and tips on preparing your home for sale to ensure you receive a fair market sold price!

2. Pictures are worth a thousand dollars

Today, more than ever, having the right photography is so important. Our professional photographers respect the COVID- 19 rules and all have masks and gloves while photographing, creating floor plans, 3D tours, i-guides, and accurately measuring your home. Our agents will be there as well at this time to ensure all precautions are taken. Expect to leave your house for about an hour and a half while the photos are being taken.

3. Only Allow in the Qualified

As a homeowner, you need to decide which viewing requirements you prefer. Do you require the buyers to complete a questionnaire prior to viewing? Are the Buyers qualified to purchase in your price range? Will everyone with a financial investment be there together for the viewing? Will the buyer's children be staying at home?

4. Do your part (Before & After the showing)

- Turn on all lights to prevent anyone from touching the light switches.
- Open all window coverings to provide natural light.
- Provide hand sanitizer at the front entry
- Sanitize door handles and surfaces before and after showings


If you have questions about selling your Edmonton home during COVID-19, feel free to get in touch with us.

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I have listed a new property at 6811 136 AVE NW in Edmonton.
Mint Condition!!! This 5 bedroom dream home is ready for a new family who wants to enjoy a high grade quality interior and relaxing in a large beautified backyard. A few features of this prime located bungalow feature a bright renovated white kitchen with a breakfast island and stainless steel appliances, exquisite reclaimed flooring, triple pane durabuilt windows, air-conditioning, master with private ensuite, a fully finished basement with ample space for an office, 2 bedrooms and a second family room, RV parking and an oversized (28 x 24) garage with welding plug and is rough in for in-floor heating. Located within walking distance to elementary schools, parks and amenities, this is prime real estate in the heart of Delwood!
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Edmonton House Price Rankings

Edmonton real estate prices have been on the decline, with the city’s housing market ranked #3 of 16 Canadian cities when it comes to housing affordability, according to the 2020 RE/MAX Housing Affordability Report. While affordability is already one of the region’s biggest draws, cost-conscious Edmonton house hunters in search of even better prices can find them in the communities of Northeast Edmonton and Mill Woods, which have been named the most affordable neighbourhoods to buy a home in Edmonton.


Factors contributing to Edmonton real estate prices

Edmonton real estate prices have been declining, experiencing a 3.2-per-cent decrease from 2018 to 2019, and another one-per-cent decrease is expected this year (source: 2020 Housing Market Outlook Report). In light of the lowering prices, Edmonton has been named one of Canada’s most affordable housing markets, according to the new RE/MAX Housing Affordability Report.


In its inaugural Housing Affordability Report, RE/MAX examined 16 of Canada’s most populous regions and ranked them on an affordability scale, with #1 being the most affordable and #16 being the least affordable. RE/MAX brokers were surveyed about average home sale prices and whether they believe real estate in their region is overvalued, undervalued, or right on the money. Edmonton real estate came in at #3 of 16 cities. Canada’s most affordable city to buy a home is Regina (#1) and the least affordable place to buy a home in Vancouver (#16).


RE/MAX’s affordability ranking was determined by assessing the percentage of a buyer’s monthly income needed to carry a mortgage, assuming a down payment of 25 per cent, and based on the forecasted 2020 average sale price per region and the forecasted 2019 average household income.


Edmonton& real estate is currently regarded as undervalued. The implementation of the Federal mortgage stress test has unintended consequences in how it impacted Canadian homeowners. In Edmonton, the recessed economy has also added to decreased sales, which in turn has resulted in buyers being unable to qualify for a mortgage and paying more in rent than what they would be buying for.


There is also an evident division between what buyers want and what inventory is available, most of that inventory is not what buyers are looking for. First-time home buyers are looking for newer properties, but much of what is available are homes in need of renovations.


At the high end of the affordability spectrum, the region’s least affordable neighbourhoods include& Upper Windermere, Belgravia/Windsor Park and Crestwood/Parkview/Laurier Heights.


Despite the commonly held notion that housing in Canada is unaffordable, the report finds that the vast majority of Canada’s largest urban centres (75 per cent) are currently undervalued, according to a survey of RE/MAX brokers in 16 of Canada’s most populous cities.


In its report, RE/MAX explored the most popular property types sought by first-time homebuyers, the least and most affordable communities in each of the 16 housing markets, factors preventing buyers from entering the market, and methods homebuyers are using to enhance the affordability of homes. Current and prospective Canadian homeowners were also surveyed about their sentiments around homeownership, barriers to owning a home, financial factors impacting homeownership, and what could potentially improve housing affordability.


Get your free property evaluation today and learn if the price of your Edmonton Homes has increased or decreased in value.

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I have listed a new property at 17777 95 ST in Edmonton.
Perfect Starter home in a professional well run complex with very low condo fees in the heart of Lago Lindo. Features of this great property include central air conditioning, a high efficiency furnace, finished basement, ceramic tile in the kitchen and beautiful two-toned real hardwood flooring in the large living room on the main floor with patio doors to the private backyard with greenery and lots of perennials. This 2-storey townhouse is located near Eusebio Garcia Park, elementary schools and quick access to Canadian Forces Base Edmonton Garrison. Don't miss out on this great home.
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Edmonton real estate prices have been on the decline, with the city’s housing market ranked #3 of 16 Canadian cities when it comes to housing affordability, according to the 2020 REMAX Housing Affordability Report. While affordability is already one of the region’s biggest draws, cost-conscious home hunters in search of even better prices can find them in the communities of Oliver, North East Edmonton and Mill Woods, which have been named the most affordable neighbourhoods to buy a home in Edmonton.



Factors contributing to Edmonton real estate prices

Edmonton real estate prices have been declining, experiencing a 3.2-per-cent decrease from 2018 to 2019, and another one-per-cent decrease is expected this year (source: 2020 Housing Market Outlook Report). In light of the lowering prices, Edmonton has been named one of Canada’s most affordable housing markets, according to the new REMAX Housing Affordability Report.


In its inaugural Housing Affordability Report, REMAX examined 16 of Canada’s most populous regions and ranked them on an affordability scale, with #1 being the most affordable and #16 being the least affordable. REMAX brokers were surveyed about average home sale prices and whether they believe real estate in their region is overvalued, undervalued, or right on the money. Edmonton real estate came in at #3 of 16 cities. Canada’s most affordable city to buy a home is Regina (#1) and the least affordable place to buy a home in Vancouver (#16).


REMAX affordability ranking was determined by assessing the percentage of a buyer's monthly income needed to carry a mortgage, assuming a down payment of 25 per cent, and based on the forecasted 2020 average sale price per region and the forecasted 2019 average household income.


Edmonton real estate is currently regarded as undervalued. The implementation of the Federal mortgage stress test has unintended consequences in how it impacted Canadian homeowners. In Edmonton, the recessed economy has also added to decreased sales, which in turn has resulted in buyers being unable to qualify for a mortgage and paying more in rent than what they would be buying for.


There is also an evident division between what buyers want and what inventory is available, most of that inventory is not what buyers are looking for. First-time home buyers are looking for newer properties, but much of what is available are homes in need of renovations.


At the high end of the affordability spectrum, the region’s least affordable neighbourhoods include Upper Windermere, Belgravia, Windsor Park and Crestwood, Parkview, Laurier Heights.


Despite the commonly held notion that housing in Canada is unaffordable, the report finds that the vast majority of Canada’s largest urban centres (75 per cent) are currently undervalued, according to a survey of REMAX brokers in 16 of Canada’s most populous cities.


In its report, REMAX explored the most popular property types sought by first-time homebuyers, the least and most affordable neighbourhoods in each of the 16 housing markets, factors preventing buyers from entering the market, and methods homebuyers are using to enhance the affordability of homes. Current and prospective Canadian homeowners were also surveyed about their sentiments around homeownership, barriers to owning a home, financial factors impacting homeownership, and what could potentially improve housing affordability.


READ THE FULL REMAX HOUSING AFFORDABILITY REPORT

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I have listed a new property at 116 2045 Grantham CRT in Edmonton.
An ideal location, less than five minutes from all shopping amenities & community lake, perfect for morning jogs/evening strolls. Over 1000 sqft, this 2 bedroom, 2 bath condo offers upper-scale living enjoyment throughout our seasons. In the summer, enjoy relaxing on the private shaded patio and for those extra warm days, there are two A/C units to keep you cool. In winter, cuddle up to your gas fireplace and enjoy the scenic view, meet friends in the social lounge, play a game of pool, or head down to the hobby room and fitness studio. The kitchen has espresso cabinets, granite counters, stainless steel appliances, reverse osmosis water system and large island. This unit also includes underground parking, alarm system, cat5 wiring, ample storage in laundry room, and hardwood throughout. This building has a car wash bay, high-quality soundproofing, state-of-the-art video camera security and recorded surveillance. The hallways are pressurized and also have A/C. Welcome to VIP Californian Parkland!
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I have listed a new property at 310 6315 135 AVE NW in Edmonton.
Perfect Location in Holland Gardens! This warm and inviting 1 Bedroom plus Den condo boasts of over 1100 sq ft of open-concept modern styling. The king-sized master bedroom offers a large walk-in closet and a 4-piece bath just outside. The den is over sized and makes a great home office or poker/games room. This home also features high ceilings and tons of storage. The large balcony offers a sunny, courtyard view and a gas line for your BBQ. Add to that the convenience of in-suite laundry, heated underground parking with storage and you have it all! Condo fees include ALL UTILITIES including heat, water and electricity. The building has quiet concrete construction, 24-hour video security and experienced management making it an easy choice for first-time buyers and investors alike. Fantastic location 5 blocks from LRT with easy access to all amenities -- shopping, leisure center, restaurants, transit, and more – all in a secure, quiet building! Shows fantastic in person! MUST BE SEEN
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I have listed a new property at 403 10118 95 ST in Edmonton.
muliti-level penthouse loft condominium, located in The Chadwick. This gorgeous 2 bedroom, 2 bath home has been renovated from top to bottom. Loft upstairs has a spacious entertainment room with a private roof top deck. The second balcony is off of the living room and features a gas BBQ outlet. 18' ceilings with full height windows to loft level generating natural light all day. This home has been extensively renovated from the white kitchen cabinets to the porcelain tiles. This home comes with 2 underground titled parking #59 and #65 as well as 1 storage unit. Visitor parking is at rear of the complex. Convenient location close to LRT, Canada Place, City Center, walking and bike trails just down the hill along the river. Close to the Winspear, the new Art Gallery and the arts district.
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I have listed a new property at 1557 Rutherford RD in Edmonton.
This former show home is still dripping with all it's former class and glory! This 1,378 sq.ft two story home is an attention getter! From the front attached heated double garage, still finished like the show home with drywall and lighting. Enter the main floor foyer to a 2 pce powder room with attached laundry. Stroll into the large all open concept living room, kitchen & nook. Finished in rich solid hardwood, the kitchen is augmented with dark cabinets, tile back splash, designer S/S appliances and more. Upstairs find three generous bedrooms, a 4 pce main bath and a master suite with another full ensuite and huge walk in closet. Most rooms feature built in audio systems and all have the designer window coverings! This fully landscaped home with maintenance free decking and more! Located in the sought after Rutherford community with newer services, shopping, schools and more.
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Edmonton Homes for Sale
Contact: 780-910-5179

Contact Information

Audrey Abuan

780-910-5179

audrey@audreyabuan.com


Brandon-Lee Abuan

780-237-7074

brandonleeabuan@gmail.com

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Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.