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Property Assessments vs. Market Value

Provincial Property Assessment notices have arrived in the mail, giving some homeowners a big smile and a bit more spring in their step (increased property taxes aside), while others wilt and lament at a modest gain or decrease in assessed value.

Hold on a sec, neither this assessment document nor either parties’ emotions, are tied to a current true market value. In fact, provincial property assessments can be significantly too high or too low. Values are determined in July of the previous year, and properties are rarely visited in person by provincial appraisers.

For this reason, provincial property assessments should never be solely relied upon as any sort of relevant indicator of true market value for the purposes of purchase, sale, or financing.

Think of the assessed value instead as something akin to a weather forecast, spanning far larger and more diverse areas than the unique ecosystem that is your neighbourhood, your specific street, or your specific property. A weather forecast made the previous July, not the previous week. As this is when assessed values are locked in, a full six months prior to the notices being mailed out.

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Things to Do in Edmonton This Weekend

Deep Freeze: A Byzantine Winter Festival

The Deep Freeze Byzantine Winter Festival is a free family event that brings together Ukrainian, Franco-Albertan, Franco-African, Indigenous, and Acadian/East Coast communities to revel in the magic and beauty of winter. Embrace our cold northern climate by melding artistic panache with authentic cultural and heritage winter games!  

January 11 & 12, 2020

Fireworks: Saturday evening @ Alberta Avenue Park, 92 St & 118 Ave

118 AVE, 90 – 95 Streets, Edmonton

Free

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8 Quick Decluttering Tips

We all want more time to enjoy the summer and who doesn’t want a clean, clutter free, organized house? Most of us have pets or children and sometimes it’s a challenge to keep it a tranquil environment. Here are 8 tips to help you have a restful and relaxing summer!

• Make your bed

There’s nothing like feeling a sense of accomplishment first thing in the morning and going to bed to a cozy looking bed.

• Squeegee your shower glass and hang up wet towels

This helps speed up cleaning time and leaves you with sparkly spot free glass for the rest of the day. It’s recommended to hang your towels using the full length of the towel rack. This keeps it fresh longer as it will dry quickly and evenly. Added bonus is this also lowers laundry days.

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Exterior Projects for Max Curb Appeal

1. Pressure wash your house

This is a quick way to add some extra sparkle to your house, driveway, and sidewalks. Getting rid of the dirt build up will look so good neighbors will be wondering if you repainted! Just be careful not to use to much pressure so you don’t damage your siding or painted areas on the house.

2. Add bold numbers

A small change with a big pay off! Get creative and stand out.

3. Frame the entrance with lush containers

Adding pots to frame the entrace brings the eyes towards to front door. This also adds extra dimensions to the front of the house. Also, who doesn’t love a good pop of color?

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Take the stress out of preparing to sell your home with these easy staging tips!

  1. First Impressions

What do buyers see as they come up to your home? Take a look outside. Keep it inviting by having your walk way clear of clutter, your trees and shrubs trimmed, and your lawn mowed. What season is it? Having seasonal flower pots is a great way to add colour to your walkway and steps. Freshly painted doors and steps are a great way to update without breaking the bank.

  1. Clean

It might seem like common sense but it’s easy to skip a step when you’re used to your own home. Take sometime to yourself and hire a cleaning company if you don’t like to clean. Having sparkling appliances, clean cupboards inside and out, and crisp baseboards is a sure way to leave a lasting impression on buyers.

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Making sense of the new mortgage rules

There has been a lot of confusion on the new mortgage rules with clients thinking they will need more than 20% down. Here is some Clarification on what Down Payment is needed for different Circumstances.

5% Down Payment

Can be used for:

  1. First Time Home Buyers
  2. New to Canada Clients with 2 Credit Sources for previous 12 months OR a Strong Credit File (Can be Gifted)
  3. Vacation Home – 4 Season Home with Year round access (Type A Property)
  4. Second Home – Owner Occupied or for an immediate family member (Child, Parent)
  5. Purchase Plus Improvements – if Owner Occupied
  6. Construction Builds – Progress Advances

10% Down Payment

Can be used for:

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