Edmonton Real Estate Blog

Welcome to ProctorTeam.com

Welcome to the new and improved Proctor + Associates website, featuring award-winning REALTOR® Patti Proctor, and REALTOR® Chris Proctor. The Proctor team is here to serve you in all your real estate needs by providing personalized, professional expertise on the Edmonton real estate market.

We have some great features on the new website, most notably the search function on our search page. To get detailed results for Edmonton and surrounding areas, start by selecting the area you'd like to find property for via the right-hand side search panel, and work your way down, selecting the appropriate info as you see fit. Taking this extra step to define what area, property type, and price range will narrow your search parameters considerably, creating a more…

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Edmonton Housing Prices up in First Quarter of 2012

According to the latest market report from REALTORS® Association of Edmonton, the average selling price of a home in Edmonton climbed 2.2% to $335,187 in the first three months of this year, compared to $328,094 during the first three months of 2011.

“Other markets, such as Toronto, are reporting feverish real estate activity involving multiple offers and unconditional offers but our market is calm, orderly and slowly evolving,” commented Doug Singleton, President of the REALTORS® Association of Edmonton. “Listing activity is up when compared to last year but sales and inventory are down which could indicate that market activity will pick up markedly as the summer progresses.”

Other Edmonton housing statistics for March were:

• A 23.5% surge in…

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February Housing Marketing Statistics for Edmonton

As reported by the REALTORS® Association of Edmonton, Edmonton housing prices in February rose somewhat significantly in February compared to the previous month, and even higher when compared to the same period last year. Specifically, February sales rose 3.7% vs. January and 5.7% vs. February/11, with the all-residential average at a rather lofty $329,911.

 “Average prices in February were higher than the year-long average price for last year,” commented Doug Singleton, president of the REALTORS® Association of Edmonton. “Buyers seem to have confidence and REALTOR® offices are reporting solid traffic. This is lifting prices up and they are already higher than at the same time in the past two years.”

Other key statistics from February also point to…

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Edmonton Community Profile: AMBLESIDE

I love Edmonton, and proudly call the city my home and my “workplace” as well. And one of my favourite communities to visit and work is Ambleside.

Indeed, there’s so much to love about this charming and unique community – it’s really something you have to personally experience to truly appreciate. However, I’ll do my best by giving you a brief thumbnail sketch of why Ambleside is truly an outstanding place to live and raise a family.

Ambleside is...

• Incredibly accessible and very “walkable.” So if the thought of quaint walkways, trails and paths inspires you to get your running shoes on, then you’re in luck!
• Full of natural, green spaces including three parks (with more on the way!). The parks are well maintained and ideal for families and…

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January Housing Marketing Statistics for Edmonton

As reported by the Realtors Association of Edmonton, housing prices in January followed a “business as usual” pattern for this time of year: slightly lower prices than December, and about the same volume.

“We are predicting a slow but steady growth pattern for the market in 2012 and, as usual, this year started off slowly but is already showing signs of strength as we roll into spring,” commented Doug Singleton, President of the REALTORS® Association of Edmonton. “Listing and sales activity is up markedly as compared to a year ago. Listings in January as compared to December are up over 126%.”

In terms of specific numbers for January:

• The average price of a single family detached (SFD) home dropped 1.1% from the previous month to $362,926, but…

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Edmonton Real Estate Market Update for June

As reported by the Edmonton Journal, last month Edmonton home sales jumped a healthy 7.6% compared to a year ago, according to the Realtors Association of Edmonton. In total, the June housing market saw 54% of listed homes sell for a total of $584 million (1,768 sales; 3,260 listings).

A couple of key factors behind this boost in sales are, of course, the hot Alberta economy and those good ol’ historically low interest rates – which make home ownership a reality for many people, especially first time home owners and former renters. 

However, another factor that is boosting home sales appears to be a slight dip in average selling prices, which further makes ownership affordable and attractive. The average price for a single family home fell 2.86% in…

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Mortgage Rate Hikes on the Horizon

As reported by the Canadian Press, home buyers and sellers should gear up for mortgage rate hikes sooner instead of later.

That’s because, while the Bank of Canada this week declined to change its current 1% overnight rate (which banks use to formulate their mortgage and other lending rates), it announced in a statement that the economic recovery, if it continues, will inevitably lead to hikes in the near future. 

"To the extent that the expansion continues and the current material excess supply in the economy is gradually absorbed,” the Bank of Canada noted in its statement, “some of the considerable monetary policy stimulus currently in place will be eventually withdrawn."

For those who have been closely following the Bank of Canada’s actions…

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New Rules for Home Inspectors in Alberta

As reported earlier this month by the Edmonton Journal, the Provincial government has passed some much-anticipated new rules affecting home inspections in Alberta.

Under the Home Inspection Business Regulation, Home Inspectors must:

• meet minimum qualification and education standards in order to be licensed by the province (those who already hold a Registered Home Inspector or Certified Master Inspector certificate are pre-qualified)
• carry $1 million in “errors and omissions” insurance
• post a $10,000 security fee in case of negligence or incompetence

Home Inspectors who don’t meet these requirements can apply a conditional licence, which expires in March 2013.

In addition, the new regulations put an end to contracts that limit…

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Open Houses for May Long weekend!!

Hi Everyone,

Come check out our open houses this weekend!

STUNNING, renovated Terwillegar Towne 2-storey. Saturday May 21 2-4 p.m.

1917 Tanner Wy

Unbeatable Location of this Parkallen GEM! Sunday May 22 2-4 p.m.

11123 70 Ave

Can't wait to see you there!!

-Chris

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First Time Home Buyers Driving Real Estate Market: Report

According to a recent Re/Max report, first time home buyers across the country are driving the real estate market forward.

There are a few factors behind this trend. The first is the prospect that higher mortgage rates are just around the corner. In fact, most of the major banks have already hiked their standard five-year, fixed rates.

The second is the Government’s new mortgage rules, which reduce the maximum amortization period for government-insured mortgages from 35 years to 30 years. What’s very interesting here is that instead of preventing first time home owners from taking the plunge into the housing market, the new rules are simply compelling many people to change their expectations. They’re willing to bend a bit when it comes to location,…

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