Edmonton, St Albert, & Area RE/MAX Real Estate Professional

The Edmonton real estate and St Albert real estate markets have been doing better than expected over the past year. Now, I am definitely not an alarmist. I always try to present information to Buyers and Sellers as objectively as possible.

I have been seeing a trend of possible Sellers that say they will wait until the Spring to put their homes on the market. Entirely their choice.

Now, I tell Sellers (and Buyers too) that the only true known factors are what is happening right now. The future is always uncertain. I recommend that folks make their decisions on known's not unknown’s.

I have twelve reasons why this is might particularly relevant:

1. Interest rates might go up    (This means less buyers that qualify to buy and higher costs)

2. House might be worth less   (House prices may go down next year)

3. New home might cost more   (If buying a new home then costs may increase prices)

4. Law of supply and demand    (Lots more homes on the market means more competition and possibly lower selling price)

5. Repair and lose money    (Why not put that new furnace in a home you will be living in for years to come)

6. Tax change    (What if they bring in the Land Transfer Tax?)

7. Political change    (Uncertain government changes may affect the market)

8. Cost of marketing    (Cost of advertising, gasoline etc.., increase costs to sell)

9. Loss of opportunity time    (Make your move when you have the time)

10. Double house payment   (Say it takes a while to sell, you leave it vacant, and you move to a new home…. this can be expensive)

11. Lost in the shuffle    (A big increase in Spring home listings means you have lots of other homes to compete with)

12. Job stability     (You know what your employment position is now. If you are looking to change your mortgage then your employment stability has a direct effect on your qualification)

Not all of these factors may affect the housing market and they may affect it in ways that are different than I have suggested.

I am definitely not trying to urge anyone make a choice that they shouldn’t make. If you are considering waiting until next Spring to list your home, then take a good look at these factors and weigh how they may come into play in the future.

If you have any questions or comments, please feel free to contact me. I’m here to work with you.

Ben Officer, CD   REALTOR®

RE/MAX Real Estate