WHY BUYING A HOME DURING THE WINTER MONTHS CAN BE A SMART MOVE.

Winter is usually when people are looking to deck their own halls—not buy new ones. But buying a Fort McMurray home in November, December and January can have some big advantages.

While the cold, snow and short days may tempt you to hunker down and stay inside, winter could be a perfect time to find the home of your dreams for a great deal. Here are a few reasons why:

 REAL ESTATE SALES COOL DOWN

Traditionally during the winter there are fewer homes on the Fort McMurray market. As the weather cools, so does the Fort McMurray Real Estate market and many people wait to buy or sell until warmer weather hits. This means there are fewer buyers to compete with. It is simple economics-less buyers means lower demand, this can work in your favour and increase the odds that you find a house that ends up being a perfect fit. As things slow down, sellers and their properties get less action and this may make them more eager to work with you.

SKIP THE FORT MCMURRAY PEAK REAL ESTATE SEASON

Prices are normally at their highest during the spring and early summer months. Inventory rises, but there are a lot more buyers competing for properties and sometimes multiple offers. The laws of supply and demand are always a factor in Real Estate. This year due to the Fort McMurray wildfire rebuild, there are many awesome new homes coming to market for you to choose from.

SELLERS ARE MOTIVATED

Winter may not the ideal time for some to sell so sellers with properties in the market can sometimes be highly motivated by something urgent or time sensitive such as a new job, growing family or pending retirement. A winter sell can be a good indication of a seller’s motivation. For many people, it’s emotional. The end of the year brings closure and they want to tie up loose ends. Many sellers will want to get the deal closed.

NOTICE HOW A HOME WORKS IN HARSH WEATHER

Fort McMurray is known for long cold winters and brisk warming trends offering respite and fluctuations that will test the ability of a home to insulate and protect its residents. Serious problems are more likely to be detected such as drafty or frosted windows and doors, heating, plumbing, ice damning, roof and gutters issues. Winter is the ultimate litmus test of a home and most of its systems. This information is vitally important and can be useful when establishing price.

TAX MOTIVATIONS FOR WINTER BUYERS AND SELLERS

Year end is coming and many investors and corporations can take advantage of buying or selling properties to improve their tax situation. This could work to your advantage as timing is everything.

 MORTGAGE RATES MAY RISE IN 2018

This is no small matter. Scotiabank’s out with a new prediction. The nation’s #3 mortgage lender says rising rates will cause average mortgage carrying costs for new buyers to jump 8% in 2018 and another 4% in 2019 (assuming stable home prices). Now is a great time to prequalify for a mortgage and lock in to get the best mortgage rate you can. Buying during winter, before rates have a chance to increase, is a clear winning strategy if you want to save extra money.

THE HOLIDAYS MAY MAKE EVERYONE A LITTLE BIT MERRIER

As friends and family gather, many are in good spirits you may just get a better price based on holiday cheer.

THE LORE GROUP REALTORS LOVE THIS TIME OF YEAR

Don’t let winter put the chill on your house hunting efforts. If you are interested in viewing property a Lore Group Real Estate professional would love to tour with you , and walk you through the home buying process. Put on those cozy winter boots, bundle up, pack a warm cup of cocoa to go and let’s get out there.

FOR A LIST OF AVAILABLE FORT MCMURRAY PROPERTIES CALL OR TEXT SUSAN LORE, MICHEAL CAMMOCK, JAMIE HEWAT, TRISTAN PARKER OR SHERYL SCOTT AT 780 370 3325

Don’t put off searching for a new office space until the last minute

Tenants seeking Commercial space in Fort McMurray under 5,000 square feet should start a search at least 6 months ahead of time. Allow ample time for your Real Estate professional to search for a space that fits your requirements. You will need time to perform due diligence, negotiate and draft the lease. In cases where the space requires build out or remodelling plan for additional time to work with planners, architects and construction crews, this can take up to a year.

For large spaces businesses, should begin the planning process at least a year prior to expiry of their current lease. The larger the tenant the more complex their business needs may be. Big corporations need to start earlier to allow time to find the best possible fit.

Put together a team of professionals

Don’t go it alone. Putting together a team of qualified professionals may be your most important task. Choose a local experienced, full time Fort McMurray commercial agent who can share market trends, demographics, provide research on comparable rents and knowledge about the various areas for consideration. Many businesses make the mistake of not engaging the services of a local leasing agent. A Fort McMurray Real Estate agent can find you the optimal location assist you with finding the perfect commercial or industrial property, negotiate favourable terms and craft an offer to lease that will help you save time and money. Engage the services of a commercial Real Estate lawyer to review the finer details of the lease. You may need to enlist the services of professionals such as an architect, inspectors, accountant, various trades and in the case of larger businesses a project manager to serve as a single point of contact. Your Fort McMurray Real Estate professional can assist you with assembling a team.

Know your budget

Budget is important. Research all the costs to operate a space and your business. Many businesses wind up over budget because they didn’t review all the costs. Consult with your financial institution, accountant and review your business plan. While budget is important be open minded in your property search. Don’t let the rate be your only consideration. Bear in mind corporate image, visibility, parking, and the utility of the space and other complimentary businesses in the area that might create great synergy. Taking into consideration items such as this can help boost your corporate image, retain employees and attract new business.

Do your homework

Evaluate the buildings mechanical infrastructure to determine if it meets your business needs. Inspect the space or building inclusive of mechanical, electrical, plumbing and HVAC to ensure it is in good working order before you commence the lease. Be certain all building safety codes are met and the proper permits are up to date for any development in the space. Double check with the RMWB on zoning and ensure that your use will be permitted so that you can obtain a business license. Many businesses have made the huge mistake of assuming zoning alone is enough to ensure a business license. If your business requires a heath inspection check ahead to ensure you can meet applicable standards. Carefully review hours of operation, parking regulations, elevator access, security details, property tax and operating expenses. Did you know that many Landlords charge additional operating costs for running HVAC after normal operating hours?? Be in the know and avoid unplanned for costs that can affect your businesses bottom line.

Measure, Measure, Measure

When leasing commercial space, as a tenant, you must be 100% sure of the amount of space you are paying for. Do not rely on the landlords plans alone. Don’t be afraid to require the Landlord to prove it with a BOMA certified drawing. It could be a costly mistake if you do not have the space properly measured by a space expert.

Negotiate 

No term is too small to negotiate. Ask for favourable clauses that will benefit you. Explore Landlord incentives such as tenant improvement allowances, rent free periods and moving allowances. Carefully review options such as the option to sublease, terminate, extend and expand. Negotiate items such as designated parking and after- hours operation. Plan ahead for the future growth of your business. Address caps and terms for operating costs, pass through charges and negotiate the right to independently audit any charges.

If you would like to learn more about leasing or are considering leasing a commercial space for your business and contact Susan Lore, The Lore Group, Coldwell Banker Fort McMurray or visit our website theloregroup.com to view a list of available properties.

At last 2016 is in the rear view mirror! It’s been a tough one for Fort McMurray folks and most are glad to say goodbye. As we do so we would like to reflect on a few of the many things we are grateful for. For the great strength that we found in ourselves and each other during our most difficult times while fleeing a massive fire that decimated the community we love. For shoulders to lean on and the gracious and giving hearts of strangers we now call friends that reached out to the Fort McMurray community in our time of need. For the hope that inspires us as we work through the difficulties of the rebuild.

We look forward to the coming year. As we do we are reminded that many are still in need and not in their own homes. 2017 will be full of challenges to be sure, we want you to know we are here for you!

The Fort McMurray Real Estate Market will be forging new unprecedented ground this year as we enter the rebuild process aggressively in the coming months. There will be new opportunities and challenges. As a home owner it may be important for you to keep informed.

Our group will be monitoring the market, building on our preferred trades and trusted builders list from amongst the most reputable home professionals.

Please feel free to reach out to member of our group for information. No question is too small and we are here to help.

THE NUMBERS ARE IN…Here are January 2016 Fort McMurray Real Estate Stats

TOWNHOUSE CONDO
Active Listing 85
Average Sale Price $399,625
Number of Sales 4
Average days on market 345

SINGLE FAMILY HOMES
Active Listing 382
Average Sale Price $631,014
Number of Sales 32
Average days on market 143

MOBILE WITH LAND
Active Listing 47
Average Sale Price $364,667
Number of Sales 3
Average days on market 44

DUPLEX
Active Listing 69
Average Sale Price $505,000
Number of Sales 2
Average days on market 370

APARTMENT CONDO
Active Listing 124
Average Sale Price $333,725
Number of Sales 4
Average days on market 225

*The interpretations of the data are the opinion of Susan Lore and may not the views of the board or its members.

If you need a break this summer but an exotic getaway is not in the cards, may we suggest a staycation? It’s the perfect way to say “time out” to the hustle and bustle of every day life, and doesn’t require passports or luggage. Sound intriguing? Here’s 8 ways you can have the ultimate staycation:

1. Pamper yourself
One of the best things about vacationing is an excuse to relax and pamper yourself in ways you probably wouldn’t do regularly. Book a massage or facial at your local spa, and get that “just got back from vacation” glow – you don’t have to tell anyone your secret!

2. Go see a movie
Plan a good old fashioned family movie night at a nearby theater. Splurge on your favorite movie snacks, kick back, relax, and be entertained!

3. Explore local attractions
I’ve lived in New Jersey my whole life and have never been to the Statue of Liberty or the top of the Empire State Building. Many times we focus so much on leaving home to explore new places, we forget how many great options there are in our own backyards! Pick a museum, park, or other local attraction near home and find out what’s just beyond your front door!

4. Throw a cocktail party
Invite your friends over for a fun night of drinks, appetizers, and games. You can even have a “vacation” theme to your party (think frozen margaritas, pina coladas, and lots of fresh fruit)! Throw on some reggae music and voila, you might as well be on an island!

5. Get crafty
Is there a special project you’ve been thinking about doing but just haven’t had the time? Head over to Michael’s or your local craft supply store, pick up the essentials, and get to work. Crafting can be extremely relaxing, so it’s a great way to unwind and fully enjoy your staycation. Bonus points for a new home decor item when you’re done!

6. Head to the ballpark!
Nothing says summertime like a baseball game. Round up your family or a group of friends and go root, root, root for the home team!

7. Take a nap
When is the last time you were able to take a nap in the middle of the day? Use your staycation time wisely and take a relaxing afternoon nap, preferably on a hammock! You’ll wake up refreshed and ready to enjoy the rest of the day.

8. Treat yourself!
Vacations are always a good excuse for shopping, whether you buy something in preparation for a trip or find a special souvenir while you’re away. Buy yourself a gift to remember your amazing time off!

Are you planning a staycation this summer? Comment below & let us know what you plan on doing (or not doing) during your time off!

As Christmas and the New Year fast approaches, all of us here at The Lore Group would like to wish all our friends, clients, and associates a Very Merry Christmas and a Happy New Year.

This year has been a great one for us, and it’s included both old, familiar faces, and new ones we are happy to have met and hope to work with again in the future.

Of course, we know the Fort McMurray real estate market doesn’t stop just because its Christmas, and you can always reach a member of The Lore Group throughout the holidays at the team phone number, 780-370-3325. And if you’re spending your holiday starting your search for a new home, bookmark our Fort McMurray real estate search tool where you can create saved searches, mark your favourite listings, and get notified by email when new homes that meet your search criteria are listed.

The Lore Group team hopes you have a fantastic holiday this year, filled with family, warmth, and fun, and look forward to helping you with any 2013 real estate adventures you have planned!

Merry Christmas and Happy New Year from Susan, Jamie, Michael, Kelly, & Kyla.

GET THE LIFESTYLE YOU WANT… FOR THE VALUE YOU NEED.

The Lore Group is excited to be working with Devonian Properties on Fort McMurray’s latest and greatest Townhouse community, The Portage at Longboat Landing. With prices starting at only $550,000 and possessions starting as early as March, 2013 these townhouses are a great opportunity for Fort McMurray home buyers looking for a brand new home at an affordable price.

Available in 2 and 3 bedroom floor plans with three-floor open-concept layouts and two car garages, these townhouses are fully finished and upgraded throughout. Complete with window coverings, laminate flooring, stainless steel appliances, and modern light figures and finishings, these homes will be 100% move-in ready!

In addition to their great layouts, value, and prime location in the Downtown area, one of our favourite things about these townhouses is the extra bonus room on the ground floor. It comes fully finished, and would make a great office space, workout area, sewing room, or hobby area.

Benefits of Fort McMurray Townhouse Living

Fort McMurray townhouses are a unique blend of the privacy and square footage of a traditional house with the affordability and convenience of a condo. These are perfect for home buyers with busy, active lives and families who want the comfort of a house without the long list of maintenance work that can often come attached.

Here are some of the reasons we love townhouses, and are excited about the addition of The Portage development to Fort McMurray:

1. Amazing Central Location

This development is located in Fort McMurray’s Downtown, close to prime service and amenity areas. The area around The Portage is extremely walkable: most everything you need is within a 5 or 15 minute walk, including grocery stores, health services, parks and trail access, professional services, fitness centres, and entertainment venues.

2. Affordable & Modern

One of the key perks of buying a townhouse in Fort McMurray is price; often, townhouses cost less per square foot than standalone single-family houses. The value for your money will be unprecedented from this reputable, dependable, local developer. These new homes are fully finished with open-concept floor plans, and include gourmet kitchens with modern appliances and finishings, two-car garages, and a bonus room on the ground floor to accommodate your lifestyle.

3. Low Maintenance

If you’re not a fan of mowing, shovelling, or outdoor maintenance (and let’s be honest, who is?) a townhouse is a great option. The Homeowners Association will take care of a lot of this tedious yard maintenance for you. Additionally, purchasing a new Portage Townhouse means no renovations and many of the systems and appliances are covered against defects for the first few years by New Home Warranties.

4. Privacy & Security

Townhouses are medium-density developments, which means homeowners get a great mix of both privacy and security in these communities. Living with neighbours close by means extra pairs of eyes and ears around to keep watch. But you also aren’t “surrounded” on all sides like you would be with an apartment-style condo, which means you get a greater amount of privacy. You get your own home, your own entrance, and your own garage.

To learn more about The Portage development at Longboat Landing, visit the feature page on our website. You can also look through the first listings available in The Portage community, or contact us at any time with questions.

Heritage Landing: Yesterday’s Prices Today

1 & 2 Bedroom Fort McMurray Condos Starting at $259,900

Reserve Today: 780-370.3325

The Do’s and Don’ts in Purchasing a Condo

DO Hire a Professional REALTOR®

It’s FREE. Do your homework. Find the professional who’s experience in the condo market is undeniable.

DON’T Let UNCLE FRED Lead The Way

While Fred’s advice may be great, base your decision on facts. A subjective view is always best when investing in real estate.

DO Hire a Certified Home Inspector

Enough said.

DON’T Become House Poor

Finding a great REALTOR® is only the start, aligning yourself with a mortgage specialist is a must do. Understanding how much you can afford will ensure you do not break the bank!

DO Read

Condo ownership involves a joint interest set under the provisions of a Condo Corporation. Documents including bylaws, condo fee schedules, reserve fund studies, etc., are available, Read these documents thoroughly and hire a condominium document specialist or lawyer to red flag any potential issues.

For more information about Heritage Landing, check out the Heritage Landing Project Page on our website, or visit www.fortmaccondos.com.

The best part of the holiday season is remembering those who have helped make the past year meaningful both personally and professionally! The Lore Group would like to wish all our friends, associates and clients the happiest of holidays and a prosperous new year!

If you’re spending this holiday season looking to buy or sell a Fort McMurray home, don’t forget TheLoreGroup.com is still your source for all your Fort McMurray Real Estate information.

We look forward to helping you with any and all Real Estate transactions in 2012, and hope this holiday season is a fantastic one for you and your family.