Selena November 2020 Newsletter

Ready For Winter

Just like you change your cars tires for winter, there are several things you should do each year to get your home ready for the winter season. If the home is going to be vacant for any length of time then you should take extra precautions and fully winterize the home like the management companies that look after foreclosures. We have a full list of items that you should check each year as part of regular home maintenance. A couple of the most common things to check is make sure your gutters are clean as they tend to block with all the leaves getting blown off the trees each fall. Blocked gutters if left unchecked can quickly lead to more serious problems. Also important is to drain hoses and disconnect them from the hose bib. Too many times we see hoses still connected and when it gets really cold, it will damage not only the hose, but ruin the frost free hose bib and can cause problems inside the house if you have the older style faucet. If you own rental properties, now is a good time to do a walk through with your tenant or check if your management company does this for you. Here is a link to a winterizing article by Davies Property Management that you may find useful.

Edmonton Market Update

The latest sales figures for October are out and the Edmonton market has been stronger than usual for this time of year. It is certainly pleasing the momentum of the summer market is carrying through since we had such a slow start to the year due to Covid. Some of that momentum will continue into November so there is still a window of opportunity to sell your home before the cold of winter sets in. If you do consider selling then we can provide you a market valuation and discuss the best ways to market your home in this current climate.

Caveat Emptor

Let the buyer beware! Always do your due diligence when buying any property especially a condo. Condo lifestyle is attractive for many buyers as you don’t have to do much to maintain the home but there are some things you need to be aware of. Always review the condo docs and make sure they are well organized, Have good records of meetings and a healthy reserve fund. Each month a small portion of your condo fee goes towards the reserve fund to allow for future repairs in accordance with the reserve fund study. Always check that they have the suggested reserve and are doing the repairs as scheduled. Just recently a condo complex in Sherwood Park announced a special assessment to all owners for $54,000 per unit and only gave them 45 days to come up with the money. Owners were shocked at the high sum and short notice but it was known a year ago that some units were experiencing issues and the stucco needed replacing. The last units sold in this complex was in late 2019 which is around the time the bad stucco was discovered. So we say it again, Alway do your due diligence when buying a condo. When you make your offer include subject to satisfactory review of condo docs to protect yourself and your investment.

Latest Sales Data

Every Month the Edmonton Real Estate Board gathers the latest sales figures sorted by property type, price ranges, listed and Sold. Click the above link to download a copy from our website.

Fionna

With the number of Covid cases in Edmonton on the rise and currently 26 schools listed with out-breaks we are glad we chose the online option for Fionna’s schooling. She misses playing with her friends of course and there is a lot to be said for learning in class with a proper teacher but we felt it was the safest option by far. It does require a lot of our time, however when she is focused and acts like she is in school she easily completes all her schoolwork. After she has finished she likes to play like any 7 year old so we use that to motivate her.

Disclaimer: Not intended to solicit buyers or properties under contract.
This article contains the opinions of Andrew Barrett and Selena Cheung. Licensed Realtors® with COLDWELL BANKER Venture Realty.
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