Things to Consider When Choosing a Neighbourhood

When you are looking for a new neighbourhood to move into, there are a lot of factors to consider. You can renovate and make changes to a home, but one thing you'll never be able to change is the location!

Here are some things to think about before choosing a neighbourhood:

1. Neighborhood safety: Check criminal reports, look at crime rates, converse with the neighbours, visit the neighbourhood at night, and ensure the streets are well-lit. Would you feel safe walking around the neighbourhood alone?

2. School district: If you have kids or plan on having kids in the future, living in a reputable school district is critical to giving your children a good education. Even homebuyers who don't have kids can benefit from living in a good school…

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Bank of Canada Maintains Overnight Rate

The Bank of Canada once again decided to maintain its target for the overnight lending rate at 4.5% while continuing its policy of quantitative tightening.

The Bank indicated that global economic growth has been stronger than expected but will weaken due to tightening monetary policy in many countries. The Bank made special note of an expected slowdown in US sectors that will have an impact on Canadian exports.

According to the Bank, first quarter economic growth in Canada exceeded expectations, adding that labour shortages are starting to ease due to strong population growth. The Bank noted that housing activity remains subdued and consumer spending is expected to moderate as more households renew their mortgage at higher rates. The Bank…

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Home Buying Timeline

Buying a home is no easy feat, but knowing what to expect and preparing for the journey ahead is key to a successful home-buying experience! On average, it takes 3-4 months to shop for a home and 30-60 days to close on your property once you're under contract.

There are a lot of variables that go into buying a house that could make things move faster or slower. The timeline differs for each individual and depends on the housing marketing, inventory, time of year, your financing needs, and the kind of home you're looking for.

Here's a generic outline of the buying process from beginning to end (with the average amount of time each step takes) so you can get an idea of what to expect when buying a home!

1. Find a…

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6 Common Reasons Why Sellers Reject Purchase Offers

When you make an offer on the home of your dreams, the last thing you want is to receive a rejection letter. Rejection is never easy and can be extremely discouraging, especially for first-time homebuyers. You might wonder what went wrong and what you could've done differently.

There are several reasons why a seller might reject an offer, but it's helpful for buyers to know the most common reasons to avoid losing out on the home of their dreams.

 Here are 6 common reasons a seller may reject your offer:

1. Your offer was lower than the asking price, and the sellers want more for their home (there's also a chance they felt offended or insulted by your lowball offer).

2. You didn't submit a pre-approval or pre-qualification letter with your…

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March 2023 Edmonton Market Update: "Spring Market Has Sprung As Edmonton Sees Month-Over-Month Growth"

Total residential unit sales in the Greater Edmonton Area (GEA) real estate market for March 2023 decreased by 44.6% compared to March 2022 but saw an increase of 42.1% from February 2023. New residential listings were down 22% year-over-year from March 2022 while also noting an increase of 32.3% from February 2023. Overall inventory in the GEA was up 22.1% from March of last year and up 11.8% from the previous month.

For March, detached unit sales were down 47.5% from March 2022 but saw an increase of 48.4% from February 2023 at 1076. Semi-detached unit sales were down 58.2% year-over-year but increased by 20.7% from February 2023. Row/Townhouse unit sales decreased 45% year-over-year and increased 49.2% month-over-month. Apartment Condominium…

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