About the Edmonton and Sherwood Park Real Estate Market  February is supposed to be a relaxing month for REALTORS®. Consumers are typically in hibernation or on winter vacations and sales are slow but steady. But no one had their feet up this month with residential sales in February up 27% over last February and up 36% over January 2006. “REALTORS® have been kept busy responding to the atypical consumer demand for housing,” said Madeline Sarafinchan, EREB President. “Over 80 homebuyers found their new home through the Multiple Listing Service® each business day in February.” Over 1,000 single-family detached homes, 500 condos and 59 duplex and rowhouses were sold in February. Records for sales in February were set in each category. A decrease in the number of days on market was an indicator of the intense market activity. Homes sold in February were on market for an average of just 35 days: down from 45 days in February 2005. The sales activity also encouraged listings; 1,835 residential properties were listed in February. That is 220 more than were listed in January 2006. At the end of February, there were 2,595 residential properties available on the Edmonton MLS®.
Source:EREB
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First Time Buyers >Choosing A Lender
When you are buying a new home or refinancing your present one, it is wise to do some comparison shopping among lenders. A low interest rate isn't the only criterion by which to evaluate a loan. You should also consider the terms of the mortgage, what your closing costs will be and the reputation of the lender.
Real estate agents are a good source of information about loans and lenders, whether you are buying a home or just refinancing your present home. We routinely assist buyers when they need a mortgage in order to purchase a home. We know what loan packages are available and the qualifying requirements. The companies with the lowest rates sometimes have very conservative underwriting guidelines, and may not be willing to make loans on certain types of property or to buyers who are marginally qualified. We can tell you which companies and loan officers will go the extra mile to provide excellent service to make sure that the transaction closes.
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What unique type of home is making news as an affordable, environmentally-friendly housing alternative?
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Straw bale homes may well become the non-toxic, affordable home of choice in the future. |
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