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Edmonton Guidelines & ProgramsEdmonton Guidelines & Programs 12 May 2023

Is Raising Hens in the City of Edmonton Allowed? Yes!

Urban chickens are becoming increasingly popular in cities across North America, and Edmonton is no exception. Many people are discovering the benefits of raising chickens in their own backyards.

First and foremost, raising chickens in an urban environment is perfectly legal in Edmonton, provided that you follow the city’s guidelines. These guidelines dictate that you must keep your chickens in a secure coop or enclosure, ensure that they have access to fresh water and food, and properly dispose of their waste. By adhering to these guidelines, you can enjoy the benefits of raising chickens without causing any disruption to your neighbours.

One of the main benefits of raising chickens in an urban environment is the access to fresh eggs. Chickens are incredibly productive animals, laying one egg per day on average. This means that a small flock of chickens can provide a household with a steady supply of eggs. Not only are these eggs fresh and delicious, but they’re also more nutritious than store-bought eggs. Chickens that are allowed to forage for their food produce eggs that are higher in vitamins and minerals than those from chickens that are kept in cages.

Another benefit of keeping chickens in an urban environment is pest control. Chickens love to eat insects, including ants, beetles, and grasshoppers. By allowing your chickens to roam free in your backyard, you can reduce the number of pests in your yard without using harmful chemicals.

Chickens can help reduce food waste. Chickens will eat most food scraps, including vegetable peelings, fruit cores, and bread. By feeding your chickens food scraps, you can reduce the amount of waste going to the landfill.

Chickens are a sustainable source of food, and they produce fertilizer that can be used to grow vegetables and flowers.

By following the city’s guidelines, you can raise chickens in your backyard without causing any disruption to your neighbours. So why not consider raising a small flock of chickens in your own backyard? You’ll be amazed at how much joy and satisfaction they can bring to your life.

 

Edmonton New Home Builders - Trends and Market UpdatesEdmonton New Home Builders - Trends and Market Updates 11 May 2023

Everything You Need to Know About New Home Warranty in Alberta

Buying a new home is a big investment, and it’s important to protect that investment with a warranty. In Alberta, all new homes must come with a warranty. New homes in Alberta are covered by either AB New Home Warranty or Progressive Home Warranty. 

Alberta’s New Home Buyer Protection Act (NHBPA) came into effect on February 1, 2014 to protect the interests of home buyers, home builders, and new home warranty providers alike. The NHBPA established a requirement that all new homes built for sale or under a construction contract must be covered by home warranty insurance or be exempted from this requirement through an authorization from the New Home Buyer Protection Office of Alberta Municipal Affairs. For more information on Alberta’s New Home Buyer’s Protection CLICK HERE.

The warranty program that provides coverage to new homeowners for various defects in their homes. The program is designed to protect homeowners from the financial burden of unexpected repairs and replacements.

What Does the Home Warranty Cover?

The new home warranty covers various defects in your new home

1 Year Materials & Labour: this covers any defects in materials and labour (flooring, trim)

2 Year Delivery & Distribution Systems: coverage for defects in materials and labour for delivery systems. (heating, electrical, plumbing)

5 Year Building Envelope: covering defects in the system of components that separate conditioned from unconditioned space (roof, exterior walls)

10 Year Structural: Load bearing components (foundation, frame)

Builders are held accountable to repair items as outlined in the Construction Performance Guide from the Alberta Government.

How Long Does the Warranty Last?

The warranty program covers new homes for up to ten years after possession and is transferrable to new owners if you sell. 

How Do You Make a Claim?

If you discover a defect in your new home, you should contact the builder or developer first to discuss the issue. If the issue cannot be resolved, you can make a claim through the warranty provider. To make a claim, you’ll need to provide documentation of the defect and any attempts to resolve it with the builder or developer.

How Do You Find a Builder Covered by the New Home Warranty?

To find a builder covered by the home warranty, you can visit the program’s website and search for builders in your area. You can also ask your real estate agent or contact the Homeowner Protection Office for a list of registered builders.

Is Home Warranty Mandatory?

Yes, the new home warranty is mandatory for all new homes built in Alberta. Builders and developers must register with the program and provide coverage for their new homes.

If you’re in the market for a new home in Alberta, be sure to check that the builder or developer is registered with the ANHWP and that your new home is covered by the program.

When Does The Home Warranty Start?

For single-family homes: the earliest of (1) the date a new home is first occupied; (2) the date an accredited agency, accredited municipality, or accredited regional services commission grants permission to occupy a new home; and (3) the date the transfer of title to a new home is registered.  

11 May 2023

Completion Mortgage vs. Draw Mortgage: Which One is Right for You?

When you’re buying a new construction home, you may have a choice between two types of mortgages: completion mortgages and draw mortgages. Each type of mortgage has its own advantages and disadvantages, and it’s important to understand them before you make a decision.

Completion Mortgage

A completion mortgage is a type of mortgage that’s used to finance the purchase of a newly built home upon possession. With a completion mortgage, you put a down payment down and the lender provides you with the full loan amount at the time of closing. You don’t start making payments on the mortgage until you have possession of the home.

One advantage of a completion mortgage is that you know exactly how much you’re borrowing and what your monthly payments will be from the start. This can help you budget more effectively and avoid any surprises down the line.

Draw Mortgage

A draw mortgage, also known as a construction mortgage or a progress-draw mortgage, is a type of mortgage that’s used to finance the construction of a new home. With a draw mortgage, the lender provides you with funds in stages, or “draws,” as the construction progresses.

One advantage of a draw mortgage is that you only pay interest on the amount of money you’ve drawn, not on the full loan amount. This can help you save money on interest payments during the construction phase, when you may not yet be living in the home or making regular mortgage payments.

Which One is Right for You?

So, which type of mortgage is right for you? It depends on your situation and the builders procedure.

A completion mortgage may be the way to go. This type of mortgage is straightforward and easy to understand, and it can help you budget more effectively.

If you’re building a new home from scratch, a draw mortgage may be a better fit. This type of mortgage allows you to finance the construction in stages, and lock in your interest rate.

Ultimately, the decision between a completion mortgage and a draw mortgage depends on your specific needs and the builder. It’s important to work with a mortgage professional who can help you weigh the pros and cons of each option and choose the one that’s best for you.

Edmonton New Home Builders - Trends and Market Updates 11 May 2023

New Construction Homes in Edmonton, AB: Why Now is the Perfect Time to Buy

If you’re in the market for a new home in Edmonton, AB, there’s never been a better time to buy. With new construction homes all over the city, you’ll have a wide range of options to choose from.

Why should you consider buying a new construction home? Here are just a few reasons:

1. Modern design and features

New construction homes are designed to meet the latest building codes and standards, which means they often come with a range of modern features and amenities. From open floor plans and high ceilings to energy-efficient appliances and smart home technology, new homes are built with the needs and preferences of today’s homebuyers in mind.

2. Customization options

When you buy a new construction home, you often have the opportunity to customize it to your liking. Depending on the builder and the stage of construction, you may be able to choose finishes such as flooring, countertops, cabinets, and paint colours. You may also be able to make structural changes such as adding a fireplace or a fourth bedroom.

3. Low maintenance

New construction homes typically require less maintenance than older homes, as everything is brand new and under warranty. You won’t have to worry about replacing a leaky roof or outdated HVAC system anytime soon, which can save you money and hassle in the long run.

4. Strong resale value

A new construction home is likely to hold its value well over time, as it will have all the latest features and technology. This can be especially true in a city like Edmonton, where the demand for housing is strong and new construction is always in demand.

5. Get pre-approved for a mortgage

Before you start seriously looking at homes, get pre-approved for a mortgage so you know what kind of budget you’re working with. This will help you avoid falling in love with a home that’s out of your price range.Work with a Real Estate Agent

6. Work with a Real Estate Agent

Consider working with a Real Estate Agent who has experience with new construction homes in Edmonton. They can help you find the right builder, negotiate on your behalf, and guide you through the buying process.

In conclusion, if you’re in the market for a new home in Edmonton, AB, now is the perfect time to buy. With new construction homes offering modern design, customization options, low maintenance, and strong resale value, you’re sure to find a home that meets your needs and preferences.

Spruce Grove Real Estate: Market Trends and Investment Opportunities 6 May 2023

Spruce Grove Single Family Home Sale Trends May-2023

Spruce Grove Real Estate Market

Single Family Homes May 2023

   

Bar Graphs Below Are Interactive

84 new single family home listings came on the market in the month. The average list price of homes $483k up by 5.9% from May of last year. There’s been a decrease in sales of 15.8%, with a total of 64 homes sold in Spruce Grove during May of 2023. $474.5K was the average sales price on homes, up from $432.6k in May of last year. HOmes in Spruce Grove are on market for an average of 73 days, 50 days longer than same time last year.

Stony Plain Real Estate: Market Trends and Investment Opportunities 6 May 2023

Real Estate Market Report for Stony Plain AB -April 2023

Stony Plain Real Estate Market Statistics- April 2023

  

Bar Graphs Below Are Interactive

29 home listings came on the market in April of 2023.  A decrease from 56 last year. 

The average listing price in Stony Plain is down 9.3% to $417k.

21 Properties sold a decrease of 36% from April 2022.

The average home sale price in Stony Plain was $387k, a decrease of 17% from April last year.

Homes are listed an average of 61 days until sale up from 30 days same time last year.

Edmonton Real Estate Market Trends and Insights 6 May 2023

Edmonton Home Sales Trends April-2023

Edmonton Real Estate Market Statistics-April 2023

   

Interactive Bar Graphs

2.6K new listings came on to the Edmonton Market in April a 28% decrease from last year.

Listing prices remained similar to last year at $435k a slight increase of .9%

There was a significant decrease in properties sold down from 2.1k in 2022 to 1.41k this year. A decrease of 32.6%

The average sales price in Edmonton was $385k, a decline of 6.3%.

Listings are remaining on market longer, averaging out to 70 days. An increase of 52%.

Edmonton Real Estate Market Trends and Insights 6 May 2023

Edmonton Detached Single Family Home Sales April-2023

Detached Single Family Home Sales in Edmonton: A Market Update for April 2023

   

Interactive bar graphs

New listing count for single family homes in the city has decreased from last year 33.2%. 1.36K new listings came on market in April.

With the decreased inventory for single family homes listing prices have risen to $554K, a slight in crease of 2.75%.

A total of 758 single family homes sold in April that’s a decrease of 32.6%. 1.1K sold in April 2022

The average price of sold homes has decreased to $492k year over year for the month of April. Down 4.7% from $516.2k in April 2022. There is a large disconnect in listing price to sales price making it more of a buyers market, however they are many multiple offer situations happening as buyers compete for the same homes.

Days on Market has also increased upto an average of 70 days on Market before sale, an increase of 133% over last year.

St. Albert Real Estate Market Trends and Investment Opportunities 6 May 2023

St. Albert House Sales Stats April -2023

St. Albert Real Estate Statistics – April 2023

Interactive bar graphs showing the St. Albert Real Estate Market

Listings: There was 177 new listings on MLS® down from 245 (-27.8%) last year.

Listing prices have incresed 3.4% to $508k due to lack of inventory.

The number of homes sold in April was 127 down from 165 April 2022. A decrease of 23%

Home sale prices in St. Albert are down 2.8% from last year to $458k.

Average days on market has gone up in April from 29 last year upto 67, an increase of 139%

Parkland County Real Estate: Acreage Properties and Market Trends 6 May 2023

Rural Parkland County House Sales Stats April -2023

April 2023 Real Estate Market for Parkland County

Bar Graphs Are Interactive

New Listings:

In April 2023, there were 117 new listings in Parkland County, which is a decrease of 26.88% compared to the same period in 2022.

Average Asking Price:

The average asking price for properties in Parkland County was $714,000, which is an increase of 33.03% compared to the same period in 2022. 

A total of 40 properties were sold in Parkland County, which is a decrease of 45.21% compared to the same period in 2022.

Average Sale Price:

The average sale price for properties in Parkland County was $582,000, which is a 6.76% increase compared to the same period in 2022. 

Days on Market Until Sale:

The average number of days a property remained on the market until it was sold was 80 down for 127 days on market last year.

High demand for properties in Parkland County has led to an increase in the average asking price and ask to sell ratio. We will continue to monitor the market trends and provide updates in our next monthly real estate market blog.

CLICK HERE FOR A PDF OF THE REPORT