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Archive for April, 2010

New Listing

Tuesday, April 27th, 2010

New listing!

Great location, large 3 + 2 bedroom, 2 bathroom, half duplex located close to grocery stores, schools and shopping. Excellent investment property – currently rented out at $1900 a month. This home is also a great starter home for the expanding family; it offers tons of living space. Upgrades include new tiles in bathrooms, new carpet and newer laminate flooring.

Making Your House Solar Ready

Sunday, April 11th, 2010

Solar energy has been used by humans since centuries ago. Throughout recent years the idea of using sustainable resources has grown in popularity as individuals move to more earth friendly ways of obtaining energy while reducing their costs. Energy from the sun is considered environmentally friendly as it is generated from a naturally replenishing source. There is an abundance of solar energy available, however only a small percentage is actually used. (Jacobson, 2009) Some countries such as Japan have spent a lot of time and money on research and development of solar panels. The goal of the Japanese government  is to have 30 percent of the homes implement a solar system in order to reduce green house gas emissions. (Kyodo News, 2008)

In order to capture the sun’s energy, photovoltaic panels need to be used.  Photovoltaic panels are made of arrays of cells that convert solar radiation into direct current energy. The panels can be installed on any surface that provides maximum exposure to the sun. Most often, solar cell arrays are being integrated into building elements such as roofs and siding. The energy is obtained by converting light into voltage between two layers of semiconducting materials. It can be used to provide lighting in homes, power to water pumps or other appliances that serve entire communities. The price of the panels can be quite high, but it is projected to drop as the demand for this reliable form of energy rises. (Friedman, 2008)

In Canada, some home owners like Scott McKenzie are choosing to go green.  Scott hired Ottawa’s Isolara Energy Services Inc. to install a solar system to heat his 2000 square feet home. He has paid approximately $3,330 for the panels, and expects the system to pay for itself in about 10 years. Another system that can be implemented is a solar hot water system, which should meet about 60 percent of a family’s hot water needs.  Hot water consumption comprises of 25 to 30 percent of household energy consumption.  Experts say that the hot water system will pay itself off in seven to eight years.

In addition to the solar hot water system, a backup system needs to be installed to heat the home during cloudy days when not enough sun is available to produce energy. The tankless Poloma hot water system kicks in for the household water needs and the radiant heat system. It heats water only when it is needed, therefore saving energy that a conventional heater uses to keep water hot all the time. By using the federal EcoENERGY and various provincial government rebates, the solar hot water and tankless setup will cost you about $12,000.(Langston 2008)

In conclusion, environmentally conscious owners are implementing solar technologies to reduce their carbon foot print. Although initially the costs of the systems seem quite high, over the long term they pay themselves off, and help decrease green house gas emissions.

Written by:  Eva Wolicki, REALTOR® – Realty Executives Polaris (Edmonton) evasells@realtyexecutives.com

Jacobson, Mark Z. Review of Solutions to Global Warming, Air Pollution, and Energy Security p. 4. (2009)

Kyodo News, Solar panels to go in 30% of houses by 2030. Japan Times online. Tuesday, Jan. 1, 2008 http://search.japantimes.co.jp/cgi-bin/nn20080101a5.html

Friedman, Avi. Clean and Free Power from the Sun. CanWest News.  Don Mills, Ont.:May 6, 2008. Retrieved from Pro Quest database on March 10, 2010

 

Langston Patrick. New technologies take chomp out of home energy bills. CanWest News.  Don Mills, Ont.: Jul 29, 2008. Retrieved from Pro Quest database on March 11, 2010

 

 

 

 

Edmonton buyers and sellers remain optimistic

Sunday, April 11th, 2010

Edmonton, April 6, 2010: Housing figures released by the REALTORS® Association of Edmonton for March and the first quarter of 2010 show that resale housing prices are up; listings and sales are up.

“There is consumer confidence in this market and both buyers and sellers appear eager to enter the housing market,” said Larry Westergard, president of the REALTORS® Association of Edmonton. “Prices are up about 10% from a year ago and sellers are eager to take advantage. Buyers are aware of higher mortgage rates ahead and are getting into the market before the rates rise.”

Single family residences in the Edmonton area sold on average* for $388,473 in March which is up 4.7% from February and 11% from a year ago. Condominium prices rose by 8.4% month-over-month and 10.5% year-over-year. The average condominium sold for $252,416 in March. Duplex and rowhouse prices (at $313,836) dropped a third of a percent in March but were up 10.4% from a year ago. The average residential price was $343,607 (up month-over-month by 8.5%).

Sales also demonstrated the optimism of the marketplace. 3,728 residential listings in March were up over 30% from a year ago and up 246% in the first quarter. Residential sales of 1,571 properties in March were up 15.1% from a year ago and 77.3% in the first quarter. Sales were up from 1,307 in February: a 20.2% increase. The March sales-to-listing ratio was 42%; down from 52% in February.

“Seller activity has boosted the inventory to 6,770 residential properties,” said Westergard. “I am less concerned about available inventory now than I was at the beginning of the year. I think the market has reached a balance between buyers and sellers.”

All major banks raised their fixed mortgage rates in late March and the Bank of Canada has warned that interest rates will rise again after the second quarter. Many buyers are hurrying to lock in rates and find a home before the more stringent qualification requirements for mortgages come into effect on April 19. Alberta will not be influenced by the GST harmonization taking place in Ontario and BC so we may not see the sales slump in the second quarter that is expected in those two provinces.

The average days-on-market in March was 41 as compared to 47 in February.

Highlights of MLS® activity

¹. Residential includes SFD, condos and duplex/row houses.
². Single Family Dwelling
³. The middle figure in a list of all sales prices

* Average prices indicate market trends only. They do not reflect actual prices, which may vary.

Supplied by the Edmonton Real Estate Board

Eva Wolicki, RE/MAX Elite
12706 - 101 Street, Edmonton, Alberta, T5E 4E5
Tel: 780-456-6300   Cell: 780-982-7269   Fax: 780-476-6320   Email: Click Here
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