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.

SMART HOMEBUYERS DOWNPAYMENT PLANS

It’s not quite time yet but you’re beginning to think seriously about buying your first home. Among your early considerations are how much home you will be able to afford and how you are going to finance your purchase. You’ve heard about the Home Buyers Plan (HBP) and the Tax-Free Savings Account (TFSA) and you’re wondering which of these might be the best home-financing option for you. Take a look at both options:

HOME BUYERS PLAN (HBP)

Did you know you can use your RRSP savings for a DOWN PAYMENT on your home?

With the federal government’s Home Buyers’ Plan, you can use up to $25,000 of your RRSP savings ($50,000 for a couple) to help finance your down payment on a home.

To qualify, the RRSP funds you’re using must be on deposit for at least 90 days. You must also provide a signed agreement to buy or build a qualifying home.

The best part is the withdrawal is not taxable as long as you repay it within a 15-year period. The payback amount is at least one-fifteenth a year of the amount you withdrew from your RRSP.

Using your RRSP’s as a downpayment may be a great option as you have the ability to draw from some of your existing resources and it might possibly allow you to put down the 5% required to finance a home or accumulate the 20% down payment needed to avoid having to pay default insurance premiums. Even if you already have enough money for your down payment, it may make sense to access your RRSP savings through the Home Buyers’ Plan.Tax-Free Savings Accounts

TAX FREE SAVINGS ACCOUNT (TFSA)

There are No “first-time home buyer” restrictions and No dollar limits on the amount you can use. There is no requirement to repay your TFSA withdrawal, so you won’t encounter tax issues down the road.

You can use either or both of these options to help you buy your home. Chat with a mortgage professional to find out which options might work best for you. The Fort McMurray Real Estate market has some fantastic bargains for buyers. Now could be the perfect time to buy a home.

Get Yesterday’s Prices – This Weekend, at Heritage Landing!

With prices starting at just $259,900, over 50% percent of the condos in phase 1 are already sold.

Come to the Grand Opening of the sales centre, on location at the development property at 121 Denholm Gate, just off of the far south end of Franklin Ave, to start your trip back in time, when the price of a home was still affordable.

It will be an opportunity to visit the Sales Centre, meet the realtors in person and get information about the Heritage Landing Development. One lucky buyer will receive a 1 week luxury trip for two, back in time to London, England! (compliments of Highstreet Ventures, restrictions apply).

Go back to in time by contacting Susan Lore at The Lore Group, Coldwell Banker Fort McMurray 780.370.3325 or visit fortmaccondos.com

Today marks the longest day of the year and the official start of summer here in Fort McMurray, and we know you’re all excited to enjoy the long, warm days. But if you’re trying to sell your Fort McMurray home this summer, you’ve probably got other things on your mind besides camping trips and BBQs.

Selling a home in the summer can be a tricky affair for exactly the same reasons most people love summer so much: it’s warm, we’ve got vacation plans on the brain, our kids are out of school, and buying real estate is often the last thing on people’s To Do list. Fort McMurray home sellers often have fewer showings when they put their home on the market in the summer, and it’s vitally important to make the most of the showings you do get. Buyers are out there looking, and if you want your home to get noticed you’ll need to spend some extra time getting your home – and your yard – in tip-top summer shape.

Outdoor Appeal

Curb appeal and outdoor spaces are never more important than during the summer months, and sellers should make sure they keep their front and back yards impeccable to capitalize on a home buyer’s natural inclination to notice these spaces more this season.

• Mow your lawns regular: at least once a week, and when the grass is growing fast twice a week is a must. Reseed and sod any patchy bits of lawn, and water regularly to ensure it stays a rich, health green colour.
• Trim any trees, bushes or shrubs to make sure they’re neat and tidy.
• Plant colourful flowers in gardens, boxes and hanging baskets. It’s summer time, and your yard planters should look the part and be in full bloom. Make sure you weed and water regularly.
• Decks and patios should be cleaned and looking their best. Use a power washer to get off must and caked-on dirt, and if your deck has been stained it might be time for a fresh coat. If you have patio furniture make sure it’s clean and appropriately sized for your space. Staging is just as important for outside spaces as it is for indoor ones!
• If you have a pet who roams your back yard, make sure you clean up after it regularly: the last thing you want is for one of your buyers to step in something your dog has left behind!

Indoor Details

Make sure the inside of your house looks great and is kept clean all the time: you don’t always get much warning when it comes to showings, so it’s best to be prepared and accommodating to anyone willing to view your home.

• Pay attention to the temperature and adjust accordingly. If it’s been hot and you don’t have air conditioning, you may need to bring out a few fans to keep the indoor temperature down. When it comes to fans, remember to turn them down just before you leave for a showing: a gentle breeze is fine, but a fan on high can be noisy and annoying to prospective buyers.
• Pack away all your winter boots and clothing. In the heart of summer, the last thing a prospective buyer wants to think about is winter!
• Fresh flowers add a lovely summer quality to your rooms. Make sure they’re colourful and in good condition: wilting flowers should be tossed immediately.
• Open the windows. Unless it’s raining, it’s better to keep air moving and prevent rooms from getting musty. Keep blinds up and window treatments pulled neatly back to showcase your home’s summer views. Keep your winds clean and free of fingerprints and streaks.

Time to Show

When it comes time for potential buyers to view your home, it’s important to make sure they feel comfortable and can focus on the task at hand: falling in love with your home!

• Leave your home while buyers are viewing to ensure they feel comfortable in the space and don’t feel like they’re being watched.
• Take your pets with you. Take your dog to the park or for a drive while your home is being shown. Your pet might be adorable and friendly, but it’s best if buyers don’t have to navigate around pets or worry about accidentally letting them escape while they’re viewing your property. If your cat or dog must be at home during the showing, crate them or put them in a closed room and leave a note letting the agent and buyers know there is a pet in the house and where it can be found.
• Provide cool beverages for prospective buyers. A jug of ice water or lemonade on particularly hot and muggy days is always greatly appreciated and leaves a positive impression.

Recently members of The Lore Group spent a morning checking up on the progress made so far at the site of the new Prairie Creek Business Park south of Fort McMurray. As you can see, the first phase of clearing is now complete and the land is begin readied for development phases such as grading, road construction, highway improvements, and servicing.

Located 3.3 kilometres south of Fort McMurray, this 980 acre industrial and commercial area represents opportunities for business to position themselves strategically along the key Highway 63 corridor. Close to the Fort McMurray airport, the Prairie Creek Business Park will feature 3.2 kilometres of highway frontage, ideal for highway commercial and industrial businesses such as restaurants, hotels, fuel sales, fleet service, equipment yards and rental, freight yards, and warehousing.

The Lore Group is excited by the progress being made on the Prairie Creek Business Park, positioned to become a commercial gateway to Fort McMurray, the Wood Buffalo region, and the Athabasca Oil Sands Projects. Keep an eye on our blog for future Prairie Creek Business Park updates!

To learn more about commercial and industrial opportunities in this new development or to see the current draft outline plans, please visit the Prairie Creek Business Park project page or contact The Lore Group at 780-370-3325.

The Canadian Mortgage and Housing Corporation Fort McMurray Real Estate outlook reports are available for the remainder of 2011, with forecasts through 2012. Overall things in the Wood Buffalo market are continuing to increase and are expected to grow at a steady 6% pace.

The report includes sections on the Wood Buffalo region economic outlook, the Fort McMurray resale real estate market, the new home market, and the rental market. Download the CMHC Fort McMurray and Wood Buffalo Outlook for all graphs.

Fort McMurray & Wood Buffalo Real Estate Market Highlights

• Alberta’s GDP growth is expected to be positive through 2011 and 2012.
• The value of oil sands projects in 2011 is approaching the 2008 levels.
• Full time job growth fuelled by increased oil sands value and opportunity continue to support housing demand in the region.
• Fort McMurray and Wood Buffalo resale MLS® sales are forecasted to continue growing through 2012, with stronger activity in 2011 putting us on pace for a year over year gain.
• Average single-family home prices are setting new record highs. Multi-family home and condo pricing is increasing at a more moderate pace.
• Sales of homes priced greater than $600,000 has increased over last year. Homes priced $600,000 – $800,000 account for just over 40% of sales compared to 35% at this time last year, while homes priced over $800,000 account for 15% of sales compared to 7% last year.
• New single-family detached home starts will have moderate growth through the end of 2011 and are forecasted to remain stable in 2012, while multi-family starts are expected to improve next year.

Last week The Lore Group’s newest team member Brandon Cooper took a trip out to the west parcel of the new Saprae Creek Estates development to check in on the status of the site, and is excited to report back.

Saprae Creek Estates entrance road construction.

The west parcel is nearing completion: all trees have been cleared and road construction is well underway. By the end of this week all roads, ditches and lot approaches should be finished, allowing crews to get started clearing the east parcel. The next step will be hooking up utilities to all lot approaches.

Saprae Creek Estates. Clearing a lot on the west parcel.

Saprae Creek Estates is a new development of 2 acre acreage lots and extension of the existing Saprae Creek community, located only 10 minutes away from downtown Fort McMurray and accessible from Highway 69. Currently all lots in the west parcel and three quarters of the east parcel lots are already reserved!

Established in 1987, the hamlet of Saprae Creek has become a popular acreage-style bedroom community of Fort McMurray, and is currently home to over 900 residents. Perfect for outdoor enthusiasts and nature lovers, Saprae Creek is tucked away in the otherwise untouched forests south of the city. The community feels very removed from the hustle and bustle of Fort Mac, and though it’s only a few minutes drive it feels like you’re miles away!

Saprae Creek is close to several major recreational hotspots in Fort McMurray, including the popular Vista Ridge that gearing up and excited for another busy winter season of skiing, snowboarding and downhill tubing. Points West Trails is also nearby, and is a popular destination for a wide range of summer and winter activities including quadding, snowmobiling, hiking, cross-country skiing and mountain biking.

To learn more about this exciting new residential acreage development and how you can reserve your lot today, visit our Saprae Creek Estates project page or contact The Lore Group at 780-370-3325. You can also learn more about living in Saprae Creek on our Saprae Creek Community Profile page.

There are some great reasons to live in and move to Fort McMurray, and as long time residents, the team at The Lore Group wanted to share our favourite things about living here in beautiful northern Alberta!

1. Admiring the vibrant fall foliage that fills the parks and trails.

2. Indulging in a cafe latte and scrumptious fresh sunshine bread in the afternoon shade of the trees on the deck of Mitchell’s Cafe.

3. Watching the bright colours of the northern lights dance across the midnight sky.

4. Discovering heaps of literary treasures in the Fort McMurray Public Library at MacDonald Island.

5. Getting spooked at Chateau Boo, the scary haunted house hosted annually by the Fort McMurray Boys & Girls Club.

6. Falling in love with a new canine friend at the Fort McMurray SPCA at 155 MacAlpine Cres.

7. Finding new goodies from the vendors at the Fort McMurray Tourism Fall Trade Show at MacDonald Island.

8. Choosing one too many pieces of decadent, rich, handmade chocolate from the showcases at Chocolates & Candelight in Timberlea.

9. Teeing off for the last few nostalgic swings of golf int he fall crisp morning air at the Fort McMurray Golf Club in Timberlea.

10. Dropping a fishing line into the Clearwater River at lunch break.

11. Taking in the marvellously entertaining theatre productions at Keyano College.

12. Getting covered in mud quading on the trails in Prairie Creek.

13. Watching dozens of children run through the spray water at the park for the final splash of the season at J. Howard Pew Park in Waterways.

14. Cheering on the Oil Barons as they kick some butt and take some names at the Casman Centre.

15. Yanking lake trout from the back of my tailgate at Texaco Park.

16. Brisk morning mountain bike rides on Birchwood Trails.

17. Finding a one-of-a-kind work of art from a local talent at the MacDonald Island Public Gallery.

18. Admiring the beautiful sunset as we unwind and relax on the sandy beaches of Gregoire Lake.

19. Finding fabulous fall fashions at the Peter Pond Mall.

20. Devouring a juicy and oh-so-delicious burger at Earls Restaurant Lounge.

21. Delectable sushi by chef John Momo at the sushi bar at Spring Moon.

22. Heritage Park’s gift shop. Not only is there a taste of history, but also a wonderful assortment of great gift items.

What’s your favourite thing about Fort McMurray? Join us on The Lore Group Facebook page or comment here at the blog and share your favourite things with us. You’ll be entered to receive a great gift courtesy of one of our local businesses!

Home renovations come in two flavours: either homeowners are upgrading homes they plan to live in and enjoy for years to come, or they’re thinking about selling and want to improve their home’s market value.

If you’re renovating to sell your Fort McMurray home, your primary focus should be the return on investment (ROI) of these enhancements. Any upgrades you make while planning to sell should always be done with the bottom line in mind: if major changes, repairs or renovations don’t result in a significantly higher selling price, then you may loose money in the end.

Paint

A fresh coat of paint can do wonders for a home’s resale value. Consider having your home painted just before you put it on the market and make sure not to forget the baseboards and trims.

It’s important to choose neutral colours when painting to sell; you may love bright orange or lime green, but when prospective buyers are walking through your rooms you want them to easily see their own life against the backdrop of your walls. What’s more, unusual colours or wild wallpaper may actually dissuade buyers and force you to lower your price since they will factor the cost of repainting when writing an offer.

Flooring

Hardwood flooring is extremely popular and becomes an instant selling feature of the home for most potential buyers, but beware expensive hardwood. New flooring does add value to your home, but you’ll barely break even if you pick high end floors or granite tile. Quality mid-grade hardwood in a medium tone at a reasonable price is the best option, but a nice, neutral coloured carpet or simple linoleum installed properly can also boost your resale price.

Kitchens & Bathrooms

Giving your kitchen or bathroom a face lift can definitely increase the value of your home, but be mindful of doing too much. Sometimes all it takes is new light fixtures, plates and updated hardware to make a big difference and get significant ROI. Before you tear apart your kitchen or gut your bathroom, bring a qualified Fort McMurray REALTOR® in for a consult: they can point you in the right direction and save you hundreds or even thousands of dollars by sharing which improvements will have the biggest impact.

Whatever renovations you choose to do, unless you have the expertise, don’t do them yourself: pay a professional. We’ve seen sellers accidentally lower the value of their home by trying to teach themselves how to tile or lay flooring. It doesn’t matter if the floor is new or the paint is fresh: buyers can spot poor craftsmanship a mile away, and if the work doesn’t measure up the price of redoing the work will ultimately hurt your bottom line, not theirs.

Remember: it’s important to do your homework when hiring professional tradesmen and contractors. Always check references and do price comparisons, even if you’ve been referred. Many people will instantly go with the most inexpensive option when it comes to contracted work, but if you’re hiring a professional it’s because you want a professional job done. Always call and speak to the references yourself and make your choice based on both price and quality.

The snow is melting, the sun is shining, and spring has finally sprung in Fort McMurray. If you’re planning on selling your home this spring you should know that curb appeal is never a more important factor than during the early spring months. Your home’s exterior and yard are the first things a prospective buyer sees, and you never get a second chance to make a first impression. A clean, well-kept yard with spring touches can make a huge difference when selling Fort McMurray real estate.

Spending just a little bit of time and money on your yard this time of year can make a big difference when it comes to how quickly your home will sell and how much you’ll get for it. Here are just a few ways you can give your Fort McMurray home for sale a spring facelift.

7 Ways to Get Your Home Ready for the Spring Fort McMurray Real Estate Market

Take down Christmas and winter-themed decorations

Any holiday or winter decor should come down ASAP if you’re trying to sell your home, including Christmas lights. Many people leave their lights up all year round even if they don’t turn them on: if you’re selling, this is the year to take everything down. You have to pack them anyway, right?

Spread the snow around

After a long winter of shovelling, most of us end up with snow piled high on certain parts of our lawns. Grab your shovel one last time to knock these piles down and spread the snow more evenly across the lawn. This will help those piles melt faster and prevent snow mould.

Get a jump on spring yard work

Get your spring yard work out of the way as early as possible. Pick up garbage and debris that has accumulated in the snow over the winter, and make sure your lawn is raked, fertilized and aerated as soon as possible. If you have active children who like to play outside, remember to keep your front and back yard clutter free. Find an unobtrusive place to store bikes, skateboards and other outdoor toys and equipment.

Wash siding and driveways

If your siding looks dirty, cleaning away months of grime can make a world of difference. Rent or borrow a power washer, or have professionals come and pressure clean your siding. Giving your driveways and sidewalks a good spray is also worthwhile: cleaning accumulated salt, oil spots and stains off your pavement can make your driveway look like new again.

Wash your windows

Nothing makes the the exterior — and interior — of your house shine better in the refreshing spring sunshine than crystal-clean window panes. Washing your windows inside and out can give your home a polished, well-kept look that attracts buyers.

Refresh decks and fences

While you’ve got that power washer out, give your deck and fences a good clean and, if needed, a fresh coat of paint or stain. A little bit of work goes a long way, and outdoor wood that looks well-cared for is an immediate draw.

Spring flowers

Nothing says spring better than blooming flowers, so get your flower beds cleaned and planted as soon as you can. If you’re worried about late frosts, plant in hanging baskets and movable pots that can be placed outside in the sun and easily brought in if temperatures drop.