I am proud to announce that I am now with Re/Max Excellence! Starting a new year, this move feels like the perfect fit at the right time and I am looking forward to helping all my clients with their Real Estate needs. With my background in accounting I intend to sell more business & commercial this year and while I have always been licensed to sell commercial Real Estate, Re/Max Excellence has strong commercial support so no wonder they are #1 Re/Max commercial Real Estate company in the world. Don’t worry, we still do plenty of residential too so we have you covered.
We are confident this move will enhance the service we offer you and looking forward to continuing to assist you with all your Real Estate needs in the coming year.
The 2025 Edmonton Housing Forecast started off with a brief summary from the Realtors Association of Edmonton (RAE) and their 2024 predictions, compare with the actual numbers. Now we knew 2024 was a very busy year for Edmonton Real Estate (yes I made the top 5% of all Edmonton Realtors again) but the discrepancy between the two numbers is mind blowing as you can see below.
In particular, townhouses were predicted to have 2% more sales but reality was over 31%. That is crazy but we already knew that as we sold lots of townhouses last year (special thanks to E. S. Services for doing amazing renovations for quite a few of them.) So now the big question is what is 2025 going to be like. As I always say, prediction is very difficult, especially when its about the future. Right now there is uncertainty due to federal election and tariff threats and what that will do to the economy and Real Estate here in Alberta. I read Bank of Canada will continue to lower rates so that usually means more buyers getting in the market. Edmonton is still very affordable and people are moving here for jobs as well as they can afford to buy. To help cope with this in migration, the City of Edmonton has streamlined its building permits process and also increased the number of homes that can be built on a single lot. Last year Edmonton built more homes than Toronto and our population is much smaller, and CMHC has great programs covering 5 units and garage suites etc. so we expect it will be another busy year for both buying and selling.
Why Rent if You Can Buy with only 5% Down? I recently worked with first-time home buyers who had been renting for almost 20 years and paid close to $200,000 in rent over those 20 years which was more than enough to buy the home outright. That same $200,000 can still buy a 3-bedroom townhouse or a newer 2-bedroom condo in Edmonton, which could be fully owned in 20-25 years. We are big believers in home ownership because after 20 years of paying rent there is nothing to show but after 20 years of paying mortgage they get to own their own home, and they are so happy they decide to buy. We like to say it’s never too late to buy a home, and we’re here to help find the right one for you!
There has been so much happening in my life right now and I get so busy and can feel overwhelmed but fortunately I have a secret way to deal with it. My daily routine includes relaxing hot yoga. It is a habit I’ve been developing and like to continue even if some days my “Monkey Mind” says “No,” but the trick is to put on my yoga clothes and head to the studio anyway. I have been developing this habit for over a year now and feel much better and able to deal with my busy schedule and all thats happening so I can look after myself, my family and my clients better.
This article contains the opinions of Andrew Barrett and Selena Cheung. Licensed Realtors® with RE/MAX Excellence.
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