With fewer new listings in Fort McMurray, we’re moving through our inventory of homes quickly. The average sale price in the single family home sector has increased to $551,364 thus far this month. Interest rates are low and new home buyers are taking advantage of the opportunity.

 32 homes sold 

20 homes pending 

46 New Listings 

327 Active Listings 

 Is NOW is the perfect time to put your house on the market?? Find out How much is your home worth today?

DON’T WAIT!! Reach out to us for a no obligation FREE MARKET EVALUATION 

The Lore Group – Coldwell Banker Fort McMurray

It’s been quite a crazy summer for weather this year in Fort McMurray. Don’t put your hands over your ears… We know you don’t want to hear it yet but fall to soon fall will be upon us. As the days get shorter and you start planning for the kids to go back to school don’t forget to prepare your home.

CLEAN OUT THE GUTTERS
Gutters get a lot of action in the fall and winter. While this is not the most fun job don’t forget to clean gutters of all debris and repair any leaking areas to avoid water leaking and dripping that can cause dangerous ice build ups where people walk.

INSPECT YOUR ROOF SHINGLES FOR DAMAGE
The last thing you want is water dripping on your head in November. Check ridge shingles for cracks and wind damage. Look for damage to metal flashing in valleys and around vents and chimneys. Scan the entire roof for missing, curled, or damaged shingles. Look in your gutters for large accumulations of granules, a sign that your roof is losing its coating; expect problems soon. If you see any signs of damage consult a roofing specialist before it gets to cold to deal with it. This will save you HUGE dollars

MAKE SURE YOUR ATTIC HATCH IS PROPERLY SEALED
Check your attic hatch to ensure it seals tightly. While you are up there check to ensure all of your vents are clear for proper airflow and that your insulation is even throughout. Attic rain is caused by excessive accumulations of moisture in the attic of the home, which freezes during cold weather and melts when warmer temperatures hit. The resulting damage can be costly, a bit of fall maintenance can help you avoid this issue.

TURN OFF YOUR OUT DOOR SPRINKLERS AND FAUCETS
It might be a little early for this yet. Set your self a reminder as the cold weather approaches. Remove any hoses from the outdoor faucets and make sure you properly drain any in ground sprinklers.

FROST PROOF EXPOSED PIPES
Circumvent frozen pipes by wrapping any exposed areas with heat tape. Frost-proof spigots with a faucet insulator and shut off any unnecessary water supply. This is particularly important in mobile homes.

SERVICE YOUR FURNACE
This is the perfect time to book that annual check up with your Hvac guy. Have your furnace serviced, inspected and cleaned. Replaced old filters with new.

SWITCH YOUR CEILING FAN BLADES
A common preparation for the chillier seasons is to change the direction of your ceiling fans. In the warmer months, your blades are best turning counter clockwise or forward to blow the cooler air down. In the fall and winter, you want the blades to turn clockwise or backward to draw air up toward the ceiling and thrust warm air down. This simple trick can be a huge saving on your heating bill.

CLEAN YOUR VENTS & CHECK THE CHIMNEY
During the summer dust and pet hair can build up in your vents. We often have windows and doors open during the warm season for fresh airflow but as the weather cools off we seal up our home. Cleaning vents allows unrestricted air flow and a healthier environment for your family. Less dust to deal with is also an added benefit. Do a visual check of your chimney to ensure there are no crumbling bricks or bird or squirrel nests inside. If you are not comfortable going onto your roof hire a local professional to inspect.

CHECK/REPLACE WEATHER STRIPPING
Weather stripping loses its effectiveness with age and needs to be replaced every few years. Do a visual check of the stripping around exterior doors and windows (including your garage door) and replace if it appears worn or cracked. If the stripping appears fine but you can feel air moving when your doors and windows are closed, check that the stripping has been installed properly or that you’re using the correct stripping (there is a difference between door and window stripping, and a difference between foam and rubber stripping).

COMPARE ENERGY RATES
This is the perfect time to get out those energy bills we all hate to look at and compare rates. Make sure you are getting the best deal. Check out https://energyrates.ca where you can compare plans of all of the providers and find the best fit for you.

ENJOY THE FINAL DAYS OF SUMMER WITH YOUR FAMILY
This is the perfect time to get out and explore some of the great out door activities Fort McMurray has to offer. Check out Heritage Park https://fortmcmurrayheritage.com. Enjoy the sandy beach and campground at Gregiore Lake, explore the Birchwood Trials. Check out http://www.fortmcmurraytourism.com/things-to-do for a great list of events and things to do with the family this summer.

IS FALL IS GOOD TIME TO SELL??
The warm weather housing market is coming to a close and you may be considering selling and wondering if fall is a good time to sell. This may be exactly the right time. Fall brings a more serious pool of buyers that feel the pressure to get into a Fort McMurray home before the holidays. Did you know that millennials and empty-nesters usually swoop in a bit later in the year. Employers who need to relocate their workers quite often wait for the fall. If you are considering selling your home and would like more tips on how to prepare your home to get maximum value or would like a FREE MARKET EVALUATION feel free to reach out to one of our experienced Lore Group Realtors. We can’t wait to hear from you.

As smoke hangs in the air and forest fire season is in full swing we are mindful of safety. While it is important to be fire smart outside it is equally important to ensure that your home is fire safe.

Here are a few tips to protect your families lives and your home:

• Smoke Alarms Save Lives. It is important to put smoke alarms in the right places in your home. Install smoke alarms on every level of your home, inside bedrooms and outside sleeping areas including the basement. If you have smoke alarms test every month and replace batteries as required. Replace any smoke alarms that is more than ten years old. It’s a good idea to put a reminder in your calendar.
• Purchase A Fire extinguisher. In the event of a small fire. Ensure it is. Service and recharge regularly and keep near escape routes
• Keep Matches & Lighters Out Of The Reach Of Children.
• Outdoor & Indoor Lights. Outdoor lights can be a beautiful summer feature for your patio or yard. Use only CSA approved lights.  Check each set of lights, new or old, for broken or cracked sockets, frayed or bare wires, or loose connections, and throw out damaged sets.
• Smoking Friends & Family. Provide large, deep outdoor ashtrays that will prevent the wind from carrying away a smoking cigarette.
• Extinguish Unattended Candles. Place in burn proof containers and keep out of the reach of pets and children

Time is of essence when it comes to fire safety. In just two short minutes, a fire can become life-threatening. In five minutes, an entire home can be engulfed in flames!

Create an evacuation plan and practice it with your family to avoid panic and confusion in the event of a fire.

Did you know that the RMWB has a home fire safety program? It begins this year in the Dickensfield neighbourhood in June. We encourage you to take advantage of this program and help keep your family safe.

Your family & Fort McMurray home matter to us. Be safe folks

What’s going on in Our Fort McMurray Market?

 Real Estate Markets are constantly in flux and Fort McMurray is no exception.  Our Group would love to share with you real information based on facts and statistics, and clear up some of these common recent misconceptions. For home sellers, knowing all the data and facts surrounding the market is critical to helping you maximize the selling price.

 #1 The market is flooded with listings; 

Currently there are only 610 active and conditional listings on the market in the Fort McMurray Region. With the exception of  2018 (a very low listing month) This is actually a 12-25% decrease in number of homes for sale compared to the same month (January) during the last 5 years.

#2 All Homes are taking a long time to sell.

This is a Myth…There are many variables which impact the number of days it takes for a home to sell. Price, marketing, area, type of property, etc. While certain properties may take longer, the average days on market in Fort McMurray for January was only 78 days… so less than 3 months. So with the right price and a great marketing team on your side your home may be sold very quickly.

#3 Spring is the best time to sell.

Historically our busiest time of year is late spring. These months tend to mean higher number of sales, as well as lower average days on market. But does that mean you should wait? Sometimes, listing your home PRIOR to the spring market can give you an advantage. There is LESS competition, and buyers are out shopping for their homes in hopes to move in before the summer.

What does this mean for Sellers? January market stats still indicate a Buyer’s market, but the market IS moving, and homes ARE selling. If you are considering selling your home, and would like professional advice and our teams strategy for a timely & successful sale, at no obligation, we would love to hear from you.

Please contact us anytime.

What is the forecast for Fort McMurray’s housing market? As we enter the 3rd quarter of 2018, it’s cautiously optimistic for those both selling and buying a house in Fort McMurray, the active spring and summer markets suggest a steady path to recovery.

If you’re considering selling your Fort McMurray home, here is some positive news: Sale to list price ratios: Sellers are receiving an average of 95% of their list price thus far in the month of July and  number of sales are strengthening. You should be noticing more of those lovely red sold signs recently, as June posted the highest number of sales for Single Family Detached Properties so far in 2018, with nearly the highest since 2015. 70 Sales= a whopping 45.85% increase over 2017 numbers. Prices fell only an average of 2.5% year over year, with Inventory down year over year.

Pricing your home properly remains essential to gaining the highest and best price and a timely sale, and those that do are selling in very reasonable time frames with the average days on market at 92 days. To stay competitive, conside

r scrutinizing recent sales data for your street and neighbourhood (your Realtor can provide this data) and discuss with your Lore Group Real Estate Agent competitive pricing and marketing strategies.

Buyer confidence is noticeably returning to the Fort McMurray Real Estate Market, with an increase in 1st time home buyers entering the market and scooping up homes while prices have reached a level that is more affordable, renting no longer makes sense for many. There are generally plenty of options out there for a variety of home buyers and incomes. Interest rates remain attractive with Scotia’s Prime lending rate posts at 3.70%. With the expectation that mortgage rates will increase throughout the year, now is the time to take advantage and get pre-approval while rates are low!

What are the hot properties in Fort McMurray? Where can I find deals? The condo market saw the biggest decline, year over year as the average list price of an apartment condo in the month of June was $170,335; representing a 22.81% drop in pricing from June 2017. Condo life has never been more affordable. Vacant lots continue to move with prices falling 15% from May 2018. The average price of a city lot is in areas such as Stone Creek, North Parsons Creek, Beaconhill, Abasand and Waterways is $106,629. Saprae Creek Estate recently rolled back pricing on country residential 2 acre lots starting at $124,900. Keep an eye o

n the repo market, there is currently 45 Fort McMurray foreclosures and more anticipated in the coming year.

Oil has far exceeded what most experts said would happen this year with prices jumping past $71.00 a barrel however the Fort McMurray housing market has been slow to respond as investors continue to exercise caution.The housing market in Fort McMurray isn’t necessarily booming, but it’s not a weak market either. If you’re getting ready to buy or sell and would like more information contact one of The Lore Group, Coldwell Banker Fort McMurray experts to help guide you.

TIPS FOR SELLING YOUR HOME QUICKLY

Want a sold sign on your front lawn sooner? Here are some helpful Tips

• Ensure your home shows well, inside and outside. Eliminate clutter. Shovel the driveway, sidewalks and steps. Make sure every room has adequate lighting. Imagine that a special guest is visiting your home, and clean up and prepare accordingly.
• Get things fixed. You probably don’t have time for a major renovation. So just make sure everything in your home is in good working order. Deal with any obvious maintenance issues, such as a leaking faucet or a gate hanging precariously on one hinge. Having a pre-listing home inspection can help you identify items that need attention prior to putting your home on the market and save you from having to negotiate on home inspection items when a buyer brings an offer.
• Be realistic with price. If you set the listing price higher than the current market value of your home, then you’re not going to get many, if any, viewers. You want the list price to be attractive, which means listing at the current market value. Ask us for a Free Market Evaluation so you can better understand where your home should be positioned in the marketplace.
• Be flexible with viewing times. You want as many potential buyers as possible to see your home. Do your best not to restrict showings. Make sure your home is as “available” as possible for showings. This may cause you and your family some inconvenience, but the reward will be selling your property sooner.
• Work with a Lore Group real estate professional who understands the area and the local market. One of our knowledgeable and experienced Team members will be able to recommend a variety of strategies that will help sell your home faster.

There is no certain timeframe that your home with sell in. With these tips and a Comprehensive and Aggressive Lore Group Marketing Program you will certainly increase the chances that you will sooner and for a good price.

Report the Sale of Your Principal Residence

If you sell your home, it will need to be reported on your personal income tax return.

CRA will charge a penalty of $100 per month
to a maximum of $8,000, if not reported

In the past, you were not required to report anything if you sold a home that was designated as your principal residence and the gain was fully exempt. Although the gain is still exempt from tax, CRA has changed its policy. This means that if you sell your home, it now needs to be reported on Schedule 3 of you 2017 personal income tax return.

The following information must be reported:

• Year of acquisition
• Description of the property
• Original purchase price
• Sale price (proceeds)
• Costs associated with the sale

WHY MOBILE HOME OWNERSHIP MAY BE A GREAT OPTION FOR YOU

The Lore Group is often asked by purchasers if buying a mobile home is a good investment. Here are a few points we think purchasers should consider:

YOU WON’T BREAK THE BANK WHEN PURCHASING A MOBILE
Many people view home ownership as an unattainable dream. When purchasing a mobile home, you get to enjoy the perks of home ownership without the often higher financial cost of a traditional single family home. In this regard, mobile homes can make homeownership easier to achieve. And since mobile homes usually cost less per square foot than a stick built home, you can get more space and amenities for your money. Mobile homes can be purchased new or used, with used homes often offering even greater savings. The money saved affords a buyer much more freedom to experience all that life has to offer.

LOCATION, LOCATION, LOCATION
The negative stereotype of mobile home parks couldn’t be further from the truth. Most Fort McMurray mobile home communities are gorgeous! Check out areas such as Morgan Heights, Westborough Heights & Cartier Park in Timberlea. Newly rebuild areas in Beaconhill and Waterways offer both resale and brand new homes built with the most up to date energy efficiency packages. These beautiful neighbourhoods feature parks, playgrounds, waterparks and are close to schools and amenities.

QUALITY, SAFETY & ENERGY EFFICIENCY
Modern mobile homes are built in controlled environments by professional tradesmen. This means they can be consistently built to a high standard.
Many of the well-known mobile home builders are well-regarded throughout the industry for creating excellent homes, solidly built to exacting standards that address every aspect of the home; heating, plumbing, air conditioning, thermal and electrical systems, structural design, construction, fire safety & energy efficiency. Inspectors ensure that all standards are met, along every step of the way, from design, to construction to assembly. Recent technology has driven design forward and further improved the quality of Mobile Homes in a streamlined, proficient way that makes this type of housing affordable, safe, custom and environmentally sustainable.

ENJOY YOUR OWN PRIVATE YARD
For those with a love of gardening or family gatherings around the fire pit, mobile home ownership may be a perfect fit. Mobile homes in Fort McMurray have the added benefit of their own private and spacious yards. Safe and fun space for your children and pets to play, in many cases without restrictions often imposed by conventional condominium life, many lots feature generous privately owned parking and room to store all those toys.Fort McMurray offers both bareland condominium, and non condominium neighbourhoods. It’s important in any neighbourhood to become familiar with any rules and restrictions when determining if it’s the right place for you to set roots.

EMBRACE YOUR FREEDOM
There are so many different types and configurations of mobile homes, you can embrace this freedom and choose a home layout and décor that suits your lifestyle and personal taste. With mobile home lots now available to purchase at a reasonable cost, you can choose and customize your own brand new home! The most desired features of site built homes including bathrooms with whirlpools, walk-in closets, bay windows, fireplaces and fully-equipped kitchens with top of the line appliances. On the outside, you can choose your siding material and even build features like patios, decks, awnings, out buildings and fire pits, and in some cases yards are large enough for a garage. You can personalize…upgrade, paint, or completely remodel anytime you want. An added benefit to mobile home ownership is no overly close neighbor’s. While it is nice to get to know your neighbors, it’s also nice to have your own privacy. Unlike apartments, when you live in a mobile home you don’t share walls or a yard with your neighbors.

RESALE VALUE
The Real Estate market in Fort McMurray has not been without its changes in the past few years. It may interest a purchaser to know that on a percentage basis mobile homes have retained the strongest values year over year in 2017.
Research, Research, Research
All things considered, when buying a new home is there any reason not to go the Mobile Home route? Whether you are a first-time home buyer, looking for a change from apartment life or making the transition from a traditional single family home the process can be daunting. With so many mobile home sizes, designs and locations to choose from, the options are seemingly endless. A Lore Group Realtor would be pleased to assist you with the research required to find you the perfect home in a location you will love.

THINKING OF SELLING YOUR MOBILE HOME??

If you are considering selling your Fort McMurray home and would like a FREE MARKET EVALUATION feel free to contact Micheal Cammock, Jamie Hewat, Tristan Parker or Susan Lore to find out how much your home is worth in today’s market and how The Lore Group, Coldwell Banker Fort McMurray, can help you.