The Pandemic Christmas Edition Edmonton Real Estate Special
This stuff writes itself; I am telling you. It has been a productive month, there is a lot of good stuff to talk about. I am going to include links as it is information worth sharing.
First things first. We at Liv Real Estate™ for the first time ever, can track the viewership of any listing posted on our sites. I mean, I can see everything. How many people view, when they are looking, how much time they are spending per webpage, how many clicks. The trick with the following information is that some of us are not tech savvy, so…
Our brokerage has the one of the strongest web presences in the city (Edmontonrealestate.pro), and has for years, as we were first adopters of using the internet to market real estate in Edmonton. I’m confident to say that the traffic to our site is going to be reflective of market trends. So, we can see, what properties people are most interested in and what properties people are least interested in and when people are likely to be looking.
The access to this data and the tactful application of such sets us a part. (Most real estate companies are late adopters, and their tech comes from multinational corporations, the users cant access corporate information 😊) This helps us negotiate on our competitors’ listings and adjust our own listings in real time to get them sold unlike anyone else.
Pretty neat eh? I shot my first video about it HERE
Secondly, HSBC just announced a 0.99% mortgage rate. Unbelievable and self explanatory. HERE
In the Market
Pleasantly, I was wrong about inventory continually outpacing sales. Inventory is contracting, and sales are above average for the year. Overall prices are up while the condo market continues to decline. For a greater explanation, Liv Real Estate™ does their own data farming and analysis. We account for homes taken off market and relisted while others do not, this helps reduce redundancy and inaccurate statistics. Check us out HERE
I have been in multiple offers 2.5 times in the last week. The half comes after someone came in right after we finished negotiating on our listing with a stronger presentation. As odd as it is to say, its likely a good time to sell your home, the statistics combined with on the ground experience show there is a lack of quality inventory and still and relatively strong appetite from buyers.
What is it like selling your home under partial lock down during a global pandemic in Edmonton?
A lot like you would expect given the length of this thing and our familiarity with it but here it is. And Officially HERE
– Buyers and Sellers complete health questionnaires and Hold Harmless agreements for Listing and Viewings
– Masks, sanitizers, and social distancing are required.
– No more than two people from a family unit are permitted for Viewings.
– Viewings are by appointment only, no traditional open houses.
TIPS & TRICKS
The banks, courts, and mortgage insurers are going to demand close to their listed price on their foreclosures. Its that simple. If the price seems unfair, just wait, they will price drop weekly, bi-weekly, or monthly until the place sells. They will offer the entire market a discount rather than accepting anyone’s low ball offer.
Home Inspectors have been hard to come by. As soon as your contract gets accepted, pre-book your inspection.
Some Personal Notes
I have noticed a disproportionate amount of people have been stressed, depressed and irrational. I am not immune either. It likely has to do with another partial lockdown and the uncertainty of the future. The people I have noticed do the best mentally this year are those who are constantly doing and thinking of others, I am trying to follow their lead, it does not come easy, ha ha. So, I am still doing the random acts of kindness campaign. If you receive flowers or even Filipino pastry from me, I hope they warm you up 😊.
Thank you all for your support this year. I look forward to seeing you all over the following days, weeks, and months.
(If you celebrate something other than Christmas, I’d love to hear all about it ) I grew up with Christmas, its what I know. I’d be happy to share about it 😊.