Buying an Edmonton home? Planning your wish list: number of bedrooms, bathrooms, style? Or maybe you are an Edmonton Real Estate Investor looking for the right property to build your next project. We recommend considering the homes lot size or dimensions. Depending on your Edmonton lots dimensions, it may yield more or less value. Edmonton Infill builders will especially find this true when they are sourcing out building sites as a 33 wide or a 50 wide or larger, will drastically change the possibilities of what can be built.

Take the Edmonton skinny home – which is typically a 17 wide home built on a 25 wide lot. These narrow homes are usually built on an existing 50 wide lot that is subdivided to make room for 2 homes. The benefit for home buyers of this is the further densification of more core neighbourhoods to accommodate more residents and offer newer or potentially more affordable alternatives.

At TruHome, we are often on the search for great Edmonton homes that offer further benefits for investors or buyers to consider so being able to track down the dimensions of a lot is extremely important. We also have always been and continue to be big advocates for making more data accessible and open, so when we launched a way to search for information on an Edmonton lots dimensions (Internal Tool – Not Fully Polished), it only made sense to not keep this as an internal tool, but rather open it up and make it accessible.

Try out our new tool here: https://www.yourtruhome.com/edmonton-land-size

We hope you enjoy this tool as much as we do. Be sure to share it, use it and let us know what you think and of course reach out and let us know how we can help you buy, sell or invest in Edmonton Real Estate.

This week we heard the news that CMHC was changing some of their requirements for obtaining an insured mortgage. What CMHC highlighted is that starting July 1st, 2020:

• Limiting the Gross/Total Debt Servicing (GDS/TDS) ratios to our standard requirements of 35/42;
• Establish minimum credit score of 680 for at least one borrower; and
• Non-traditional sources of down payment that increase indebtedness will no longer be treated as equity for insurance purposes.

We get it, your probably wondering, what exactly does this mean to me? Simply speaking, obtaining your next Edmonton home may become more challenging after July 1st if (like many) you are looking to secure an insured mortgage.

To put even more simply, in speaking to Edmonton Mortgage Broker Dallas Sleeman, “this move will effectively reduce the purchasing capacity of buyers by about 10%”.  Meaning if you were approved for $500,000 – after July 1st, you may only qualify for $450,000. She also went on to mention that those who have been struggling with managing their credit will also have a tougher time getting a mortgage as at least one borrower will need to show minimum credit score of 680. She has shared some additional information that highlights the differences at On The Mark Mortgages website.

While there are other insurance options out there for Edmonton Home Buyers including Genworth and Canada Guarantee, it is difficult to determine if they will implement similar rules as well.

So… I’m sure your wondering, is there any GOOD NEWS? Absolutely there is! What this change means is now, even more so could be the ideal time to buy. Buyers that remove the conditions on a purchase prior to July 1st will not have to meet these new criteria. As Dallas put it, “The one bright side of the equation is that we have 3-ish weeks to get active files approved under the old rules to the finish line. So if you have any clients that are actively shopping, I would get live offers in ASAP. As long as the file is approved with conditions removed prior to July 1, the deal can still close after July 1.”

The real question is: What are you waiting for? Our Edmonton real estate team and our amazing mortgage broker partners are ready to help you realize your life goals one house at a time. Simply send us a quick message and lets chat about how we can secure your next home before July 1st.

• Book An Edmonton Buyers Consult
• Book An Edmonton Home Evaluation To Find Out If It Is A Good Time To Sell

More info from CMHC.

• Dear Homeowner, 

  Life is certainly creating unexpected circumstances, that are shaping our current lives and that will in some way or another impact our futures. 

  Not all news is BAD news though, which feels good to report. As an essential service, we continued to assist our clients both in the buying and selling journey.

• Each client has a unique story as to WHY it made sense to them; new job opportunities, needing to “downsize” for health reasons, having their home sold, to build more financial freedom, to reduce debt…and the list goes on. 

  The same is true for you as to why you are choosing to stay in your current home or why you’ve been, like us, “looking” at real estate while you have spent more time at home. 

  Whatever the reason you have been contemplating a move, we want you to know:

  • The Market Is Moving Forward:

    • In fact, one of the biggest challenges we are facing is a lack of inventory.  Sellers that have chosen to take advantage of this are in many ways yielding more money right now and selling faster.

  • There Are Buyers Waiting For The Right Home:

    • While our sellers are less physical showings – our listings are attracting more vetted (qualified) buyers who are making quick decisions in terms of moving forward. 

  • You Deserve To Be Informed:

    • Our true role goes beyond buying and selling. As your real estate advisors, we want to ensure you are kept informed about the value of your home on an ongoing basis. This ensures you can make the most informed decision about whether to stay or move, to refinance or even to invest in a new property. Talk to us about getting this information on a consistent basis. 

  • We Want To Keep You Safe:

    • Due to COVID-19, we are taking strict measures to ensure everyone’s safety. From how we are increasing our virtual options, to how we are validating who enters your home and how. We would be happy to discuss the protocols we have in place to protect your health and home’s best interests. 

  If selling your home or gaining more knowledge about the Edmonton Real Estate market is on your priority list for 2020, we would be honoured to be part of your team of advisors. We are passionate about putting your needs first and have a proven track record of success that highlights that.

  Curious about what your Edmonton home is worth? Try our interactive Edmonton home evaluation tool here. Ready to talk about getting your home sold? Give us a call or send a msg.

I am not going to lie, COVID-19 has rocked us all to the core in one way or another. It has affected our day to day lives and how we show up to do what we do. As of March 28, 2019 though, Edmonton Real Estate was classified as an essential service in Alberta which I do feel is a good thing. There are various reasons why people are looking to buy and sell and this also allows us to help them and ensure our current closings get completed as expected. The last thing we would want is for people to not get access to their already purchased Edmonton homes.

While we are still hustling and supporting our clients, we need to stress this does not mean business as usual. We are taking extra care in ensuring our clients are protected, adding additional marketing resources to give buyers more access to homes virtually and ensuring our health and safety too. You can read more about some of our services in this regard here: https://yeg.realestate/safety

I don’t know about you, but I can’t help but check the stock market every day and the same holds true for my real estate investments. It is important to have an understanding of where you are at so that you can make informed decisions in respects to what is right for you and your family. For some buying or selling will make sense now and for others, it won’t and that is okay. The greatest opportunity we can get is to keep you up to date on what is happening so that when the time is right we can be by your side to help you move forward then. Please reach out to us and tell us about how we can support your real estate needs.

We also want to point out that our role is and always will be in an advisor, consultant capacity and are here to help our customers build and manage their wealth through Edmonton real estate. We are doing our best to connect and engage with all our clients to see how they are doing and to see how we can support them at this time (relationships first and foremost). Whether you need help getting something like a few groceries to yourself, need someone to connect/talk with or want to stay informed of the Edmonton Real Estate market, we are 100% here for you. We want to help make a positive difference in your lives and our community.

Please let us know how we can support you during this trying time!

Your TruHome Real Estate Team

If you haven’t done so already, looking into the options being made available to defer your Edmonton mortgage may be something worth looking into. You can ask to defer your mortgage up to 6 months and may even be able to defer other loans and/or credit cards. Please expect a potentially lengthy wait time and be sure to ask important questions regarding deferral. If you don’t already know where to call – here is a list of all banks for your reference:

ATB Financial | 1-800-332-8383 |www.atb.com

B2B Bank | 1 800 263 8349 | www.b2bbank.com

Bank of Montreal (BMO) |  1-877-895-3278 | www.bmo.com

Bridgewater Bank|  1-866-243-4301 | www.bridgewaterbank.ca

Canadian Imperial Bank Of Canada (CIBC) |  1-800-465-2422 | www.cibc.com

CMLS Financial |  1-888-995-2657 | www.cmls.ca
Optimum Mortgage 1-866-441-3775 |www.optimummortgage.ca
Equitable Bank |  1-888-334-3313 | www.equitablebank.ca
Connect First Credit Union |  403-736-4000 | www.connectfirstcu.com
Chinook Financial | 403-934-3358 | www.chinookfinancial.com
First Calgary Financial | 403-736-4000 | www.firstcalgary.com
First National | 1-888-488-0794 | www.firstnational.ca
Haventree Bank | 1-855-272-0051 | www.haventreebank.com
Home Trust | 1-855-270-3630 | www.hometrust.ca
HSBC | 1-888-310-4722 | www.hsbc.ca
ICICI Bank | 1-888-424-2422 | www.icicibank.com
Manulife | 1-877-765-2265 | www.manulife.ca
MCAP | 1-800-265-2624 | www.mcap.com
Merix | 1-877-637-4911 | www.merixfinancial.com
Marathon Mortgage | 1-855-503-6060 | www.marathonmortgage.ca
Royal Bank Of Canada (RBC) | 1-866-809-5800 | www.rbcroyalbank.com
RFA Capital Holdings | 1-877-416-7873 | www.rfa.ca
RMG Mortgages | 1-866-809-5800 | www.rmgmortgages.ca
Scotia Bank | 1-800-472-6842 | www.scotiabank.com
Servus Credit Union | 1-877-378-8728 | www.servus.ca
Street Capital 1-866-683-8090 (Now part of RFA)
TD Canada Trust |  1-866-222-3456 |www.td.com

Important Questions You Should Consider Asking:

1. Will your property tax portion be deferred?

2. How will the interest be calculated on these deferred payments?

3. Is the life insurance portion also deferred?

4. What will happen at the end of the term?

5. Will the payments be blended into the remainder of the term after the deferment period (ideal option)?

Please remember, our Edmonton real estate team is here for you during this time. Stay healthy and safe.

There are many ways Edmonton Home Buyers can view properties right now. We wanted to highlight a few ways we can continue to offer this service:

• Search Edmonton Real Estate Online
  • We showcase all Edmonton Homes For Sale at yourtruhome.com and yeg.realestate
  • You Can Download our Apple iPhone and Apple TV Apps to search all listings, simply look up Edmonton Real Estate
  • You Can try out our TruMatch home finder based on Lifestyle Needs.
  • You Can See All Edmonton Condos For Sale By Building

When you find the Edmonton Homes you would like to learn more about, consider your options for viewing:

• Did you know we can offer tours via Facetime or Whatsapp or Facebook Messenger
• Or we could look at recording/sending you a video tour
• We are open to discussing booking an in-person viewing to qualified buyers who are fit to view.

Of course, we encourage all prospective buyers to review information on Alberta Health Services to make an informed decision about what is best for them and their families.

We are STILL OPEN FOR BUSINESS – We just need to navigate the waters a little differently and change up how we can service our customers. Our Edmonton Real Estate team is here to be a resource to you, whether you need help getting something dropped off to your house, a person to talk to, or advice or assistance in navigating the home buying and selling process.

Last night, we sent emails out to all our sellers, providing some guidance regarding procedures to take if allowing showings at this time. Of course, we are also focused on discussing the right option for you at this time as ultimately it will be different for everyone. Here are a few tips we advised when it comes to proceeding with in-person showings:

We understand that are a lot of fears about what is happening in the world when it relates to this coronavirus and how to proceed. We don’t know how long this will last and how many people will be affected either physically, mentally or financially, however, we can speak about what we do know:

One of Central Edmonton’s best kept secrets, Trinity Pointe offers so much more than your average condo.

Concrete Building

One of the biggest differences between types of condos is construction, specifically having the choice between wood frame or concrete structures. Concrete condos are the preferred choice in most measures since they are sturdy and solid. The noise transfer between units will be far less than a wood frame building giving owners a little more privacy and quiet. Though concrete condos require their own type of maintenance, it’s typically needed less often than a wood frame building and can withstand much more when it comes to the elements, so when thinking long term, concrete is the way to go. Concrete condos also often have a better green rating thanks to their efficiency and durability.

Pet Friendly

Sometimes finding a condo that you can love that allows your furry companion too can be a challenge. This building offers it’s owners relaxed pet restrictions making it easier for you and your family to settle in!

Accessibility

Often overlooked, most buyers are searching in Strathcona and Ritchie. Nestled between the two, this Bonnie Doon condo is perched above Mill Creek Ravine. Allowing quick access to Whyte Avenue, U or A, Ritchie Market, French Quarter, Millcreek Pool, Bonnie Doon Mall, and so much more!

VIEWS!

You would not know it from the street, but this condo offers some of the best views in Edmonton. Where can you find a forest facing condo in Central Edmonton? Trinity Pointe! Enjoy the calm, peaceful nature of  Mill Creek Ravine right from your own private balcony.

Fitness

Tired of paying a costly gym membership? Cancel it and move into Trinity Pointe which offers an amazing fitness room and gym. In the warmer months you can also take advantage of the trail network right outside your door.

“Stellar” Management!

This building is managed by an active board and Stellar Condo Management. A healthy reserve and an incredibly proactive approach to maintenance means a safer investment for you.

We simply can not say enough about Trinity Pointe; however there is one more benefit – you can move into this building immediately. Take a look at the Edmonton Condos for Sale in Trinity Pointe today!

Hello YEG!

All of us at TruHome love our pets and each of us has made choices in regards to our living environments that would be good for our pets and ourselves. For example, I (Caitlin) chose to live in a house over a condo so that my lovely fur-bears can enjoy a doggy door and yard, while my sister (Elisse) knew right away that a condo would be better for her family, including her little dog. 

In retrospect, when I re-consider my lifestyle, I do feel an Edmonton condo would have also worked really well for me and my two bubbly schnauzers. Unfortunately, before I became an Edmonton REALTOR®, I didn’t realize all the amazing Edmonton condo choices that do exist for people like myself and my dogs.

The reality is that there are plenty of options when it comes to living the Edmonton lifestyle while loving and living with your pets. I wanted to share a few of my favourites to get you started on exploring the real possibilities you can consider:

 The Valhalla Located In Oliver

The Valhalla is the ultimate in pet-friendly living in the core. Not only do they allow pets, but they are also one of the most flexible when it comes to the overall size of your dog. Great Dane? No Problem! Your lovable fur baby is welcome here. With sprawling views of the river valley and downtown, a large indoor pool and an incredible gym – this condo provides it all in location and lifestyle. Want to learn even more about The Valhalla, be sure to read about the 10 Things You May Not Know About The Valhalla. 

The View Overlooking Riverdale

Nestled at the top of the hill in picturesque Riverdale, this Edmonton condo lives up to its name. Enjoy some of the best views in Edmonton surrounded by river valley walking trails. Not to mention, it is located only five minutes away from Edmonton’s downtown core. The building has reasonable pet restrictions, massive floor plans, ensuite laundry, underground parking and lower condo fees, making it a great option not to be overlooked!

Cherry Brook Court Situated in Oliver

This condo is situated in a prime location in the heart of Oliver. Only one block away from Jasper Avenue and close to every desirable amenity including a great pet food store, Global Pet Foods. With tree-lined streets, multiple parks and a network of walking paths, Cherry Brook Court is perfect for the young urban professional or first time home buyer. Accepting cats or dogs – all are welcome in this amazing condo!

The River Grande in Riverdale

Named “Edmonton’s Garden”, Riverdale is a premiere community hugged by the curve of the North Saskatchewan, surrounded by walking trails and home to one of the best off-leash dog parks in the entire city, the Dawson off-leash park which is less than a five-minute walk from the building. Large balconies, friendly 18+ neighbours and amazing floor plans make The River Grande a top choice for any dog parent! 

Morris Lofts in Downtown

Situated in the best location in downtown YEG, this exclusive loft building welcomes your pets. Residents love the generous floor plans, well-managed board and underground parking. What more could you want for your furry friends? Your steps away from Work Nicer (a fantastic co-working space), TEC Edmonton, 104th Street, Start-up Edmonton and the Ice District. 

Trinity Pointe in Bonnie Doon

One of Edmonton’s best kept secrets facing Mill Creek Ravine, this steel and concrete building is well-constructed and sound-proof. Connected to the ravine and trail networks, this building is ideal for pet owners all around. You will want for no amenity living near Whyte Avenue, Bonnie Doon mall, and downtown if you choose this as your next home! Not to mention with the expansion of the LRT network and its hub will bring even more exciting news to the area.

Want to discover more pet-friendly buildings in Edmonton? Our Edmonton Real Estate team would be thrilled to find the ideal home for you and your furry friend. Let us share our expertise to help you on your way!

Your TruHome Advisor,

Caitlin Heine

When Caitlin Heine isn’t out and about helping buyers and sellers navigate the Edmonton Real Estate market, you’ll often catch her out enjoying Edmonton’s beautiful river valley with her two schnauzers, Lumi & Hilli.