Rob Smashnuk

Keep your cash in your wallet

Before taking on a huge commitment like a new mortgage, it is best to refrain from making large purchases. Lenders are more likely to give you a better contract for your property if they can see you are a responsible borrower. If you open new credit accounts, max out your cards, or buy several big-ticket items it could be difficult to secure a loan.

Get pre-approval not just pre-qualified

There is a big difference between the two. Anyone can get pre-qualified, but getting pre-approved means a lender has looked at your credit history and financial information and determined exactly how much they should lend you. It can make house hunting more efficient getting pre-approved so you do not waste time looking at houses you cannot afford. It also gives you the opportunity to get the best interest rate on your loan and to make sure there are no hidden fees. You will likely have this loan for decades so it is imperative to make sure you get the best deal possible.

Get your new home surveyed

Doing so will prevent future disputes with your neighbours and it is always a good idea to know exactly what you are buying. Your property tax is based partly on how much property you own so it is ideal to have an accurate map drawn up.

Predicting the market

Housing prices have been steadily increasing making it only natural to try and time buying for when they go down. This can be an impossible task though as markets are unpredictable and housing appears to be on an indefinite upward trend. The best time to buy is when you find the perfect home and can afford it. Do not try to wait it out or you may miss out.

Bigger ≠ Better

For those not in the real estate business, there is an old adage that says not to buy the biggest, most beautiful house on the street. Even though it catches everyone eye, only a few people can afford it. This limits the number of potential buyers should you want to re-sell it. Your home is only going to go up in value in proportion to the houses around it. Sometimes, it can pay off to buy the worst house on the street because it will trade up better per square foot than the biggest house.

Sleeper Costs

The biggest difference you will notice between renting and owning are these costs. Most home buyers focus on the monthly mortgage payment, forgetting about property tax, utilities, repairs, and maintenance costs. Make sure to budget for all the expenses that come with home ownership.

Emotional Attachment

Some homes take our breath away so well that we overlook issues that good come up down the line. Maybe the place was your childhood home, or perhaps it is in an amazing neighbourhood. At the end of the day, buying a home is an investment so try to make this decision practically by avoiding emotional bias.

Check Under the Roof

Just as you would check under the hood of a car before buying it, you should also get your potential new home inspected by a professional. It would cost you a couple hundred dollars, but will save you thousands in the long run. It is the best way to get an unbiased opinion and, if they do find problems, you can use it to bargain for a lower price.

Bidding

Most people think that starting with a low owning bid is the best tactic to use when bargaining for a home. The best approach is to see what other homes are going for in the neighbourhood and be aware of how the markets are doing. Your opening bid should be based on two things: what you can afford and what you really believe the property is worth. Also, try avoiding rounded off numbers – sellers are more likely to take a specific number more seriously because they will assume you put a lot of thought into it.

Research the Neighbourhood

Drive by the house at all times of the day to get a thorough understanding of the area. Many people have bought homes only to realize the community was not for them. Take trips from the new place to your work to see if the commute is manageable and keep an eye out for amenities like grocery stores and gyms. Even if you do not have kids it can be beneficial to make sure the schools in the area are ranked well as this can affect the price of the property.

Contact us to stay updated.

Whether you’re buying your first home or seeking to upgrade or downsize, there are a number of factors to consider before you fork over your hard earned money.  

1.Time can be your friend
Hopefully when you’re looking for your home, you’re not in a big rush to make a move.  Time spent determining exactly what you want out of your space will help you end up with the perfect residence in the end.  A rushed purchase might mean you overlook crucial aspects and regret your decision.  Make a list of your needs and then your wants so that you know just what homes fit the bill and which you can immediately cross off your list.

2.Your housing needs
Is your family growing or are you new empty nesters?  Do you often host family and friends for overnight visits or are you most often alone?  Be realistic about your home size needs; there’s no point in owning unused space that collects dust, but it’s just as frustrating to be scrambling to find extra space when you need it.  If you’re a great cook, make sure to check out the kitchen space; if you work from home, is there an ideal office space to tuck away into?  You’ll also want to look at bathrooms (how many are there?), storage space, and whether or not the basement is finished.

3.Old or new
If you love doing renovations and can afford the time and money, go ahead and buy that “handyman special”.  Otherwise, look for something that needs very little repair or renovations other than a coat of paint to make it yours.  Solid bones are the most important feature in any home. We can sometimes get wrapped up in the romantic idea of renovations, but often they cause many headaches and grief unless you’re prepared and know what to expect.  

4.The yard
The yard can be just as important as the house itself.  Is the yard a pleasant space where you’ll want to spend time?  Which direction does it face?  (Will you get enough sunshine?)  Is it fenced and are there spaces for your hobbies, whether you play outside with the kids or want to putter through flower or veggie beds?  What’s the noise level like when you’re standing in the yard?  Does the front yard have curb appeal?  How much work will it take to keep the yard maintained?

5.The neighborhood
Before you sign the dotted line, chat with a few neighbors in your area of choice.  Your real estate agent probably has some information about how many homes are owner occupied or if the area has more retirees than young families, but your neighbors are an even better source of information.  Ask them about noise levels, who in the neighborhood has caused issues, and crime rates.  Most people will be more than happy to offer information.

6.Go with your gut
Often walking through the front door is all the sign we need as to whether or not the house is a good fit.  Get a feel for the space and trust your instincts!

Real Estate Professional Rob Smashnuk

Plans for an 80-storey condo tower proposed for the Quarters in downtown Edmonton were presented to the public Monday evening.

The Quarters Hotel and Residences would tower over Jasper Avenue and Grierson Hill Road, bordered on the west by the Shaw Conference Centre and on the east by 96th Street.

The building would be the tallest in Edmonton. The Stantec Tower stretches 66 storeys and is expected to open in 2018.

But the architect behind the new project, Brad Kennedy says despite the height, the river valley will still be in sight for people below.

“We designed the podium of the tower to be transparent, so the only piece of the tower that blocks six-and-a-half per cent of the view is the core for the elevators and the stairwells,” said Kennedy.

“Everything else is completely clear, so you can walk along Jasper Avenue and you can see down through the tower to the whole river valley.”

The project would include a hotel, condominiums, restaurants, fitness facilities, shops and two publicly accessible parks, stretching over 100,000 square feet.

Several amendments to the land-use bylaw would need to be made for the project to be approved, including removing a portion of the site from the North Saskatchewan River Valley Area Redevelopment Plan.

The Valley Line LRT is a 27 km low-floor, urban line that will run from Mill Woods to Lewis Farms, crossing through Downtown. The Valley Line will be built in multiple stages, with the 13 km southeast portion being built first.

Phase one of the Valley Line will run from Downtown to Mill Woods, and will feature:

• 11 street-level stops.
• An elevated station with a 1,400-spot Park and Ride facility and a full transit centre located in the Wagner industrial area.
• The new Tawatinâ Bridge across North Saskatchewan River.
• A short tunnel from the north face of the River Valley through to the Quarters redevelopment.
• An interchange point at Churchill Square to access the existing Metro and Capital LRT lines.

The southeast portion of the Valley Line has a capital cost of $1.8 billion, and will be delivered as a public-private partnership. Construction will begin this year, with the line scheduled to open to the public by the end of 2020.

When looking for a place to call home, it’s easy to get sidetracked by thinking with your heart rather than your head. Although it takes less than seven seconds to make a first impression, a quick decision could lead to an unavoidable case of buyer’s remorse. In order to avoid this, I’ve listed a checklist for the top ten house hunting tips you need to know before you attend a viewing.

Location: There are many things that can be changed, upgraded, or improved after you have purchased a home, but the location isn’t one of them. You need to think about the proximity to work, schools, and other attractions you frequently visit and also research any new developments or upcoming changes to the area in the future.

Smells: While air fresheners and open windows can clear out certain scents, it’s important to pay attention in order to sniff out other potential issues. For example, if you notice a damp smell, it could mean the home has poor ventilation or issues with mold.

Even Floors: Noticing a slanted floor is one of the major hints that there could be a large structural issue with the home. If you do notice something, you can ask your Agent to inquire with the owners or make note of it for the home inspection if you decide to go that far in the purchase process.

Lighting: Natural lighting is something that is often overlooked in your house hunt, especially if you are viewing a home at night, or in the middle of winter. Think about how important natural lighting is to you, and plan your viewing times around when the lighting will be optimal.

Shape & Size of Rooms: It is important to take a good look at the layout to make sure not only you but also your furniture can fit comfortably in the space.

Parking: Is there enough space for everyone in your household to park or will this become an added expense? Additionally, if there is parking available, will your vehicle fit?

Laundry: If there is laundry in the home, you need to make sure it is in an accessible location. If there is no laundry, is it in a convenient location you can easily get to with or without a car?

Storage Space: Depending on how creative you can get with your storage, you will want to make sure that there is enough room to store your belongings without things becoming cluttered or unliveable.

It looks perfect, but are you missing something? Professional staging can sometimes fool buyers into thinking a property is perfect while diverting their eyes away from potential issues. Don’t let the professional décor and scent of fresh baked cookies take your attention away from the things that matter.

Assess the Kitchen and Bathrooms: The kitchen and bathroom are two of the most costly rooms in a home. Make sure you pay special attention to these rooms to avoid getting stuck with unwanted repairs or updates after purchasing the home.

While a home inspection will help advise you of any potential issues, it is still a good idea to pay attention to these things in the initial stages of your home search. This will also help ensure you don’t waste money on unnecessary home inspections.

A REALTOR’s Commitment to High Standards of Professional Conduct Works to the Advantage of Buyers and Sellers Alike.
The internet has ushered in an age of readily accessible information and with dozens of discount self-serve brokerages popping up each day, you can easily be swayed into thinking handling the sale of real estate is a simple affair. BUT, remember its been proved that up to 80% of all For Sale By Owners eventually turn to the services of a real estate professional. And with good reason.

Licensed REALTOR‘s are professionally educated, and fully trained to guide you through the sales process with the least amount of risk possible. They are monitored and guided by their brokers and governed by real estate law. They are sworn to uphold to a strict code of ethics and have access to vast array of resources, including their strong network of real-estate-related professionals with whom they have worked with personally, often for decades. Successful transactions and happy clients are key to their livelihood and reputation. It is their business to know exactly what’s going on in their market, as well as in their community.

I have been in the business long enough to have been involved in the sales process of the same home more than once – I can anticipate issues with underground oil tanks, previously problematic roofing, zoning issues, flood zones and other un-disclosed situations which may affect the true value of your property. I have a database of experienced professionals to offer solutions that I have personally worked with in the past and have networks of affiliates to facilitate the sales process.
When Buying Your Property, I Will Help You With the Following:

Maximizing your Purchasing Power:
I will help you get the best possible property for your budget, notifying you of the newest well-priced properties on the market so that you don’t miss out on a great opportunity. I can put you in contact with the best lenders, who are up-to-date with the latest financing options and programs. I will also help you understand and be aware of the hidden costs associated with purchasing.

Home Search Resources:
REALTOR’s are the first to hear about properties as they come onto the market. Additionally, sometimes the perfect property for you is available but not actively advertised in the market. REALTOR’s have extensive networks of resources and knowledge that will assist you in finding the best property on the market. A real estate agent’s business is to know what’s going on in the market, have the network, resources and insider knowledge to assist you in finding the best property for you.

Objective Information:
I will provide you with valuable community information on utilities, zoning, schools, etc. They will help you determine whether the property will provide the right environment you want as a home or investment and will advise you on its resale value when you are ready to sell in the future. I understand the history of the property and the neighbourhood and can give you an honest assessment of what’s going on in the market and how this will affect your property as an investment. Depending on the area and property, this could include inspections for pests, mould, structural deficiencies, roof condition, septic or oil tanks and well tests, just to name a few. I can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. They will also assist you regarding the title of the property, which is the document indicates ownership of property, financial liens, legal issues, and details rights of access/easements. This knowledge can help you resolve issues that might cause problems at a later date.

Negotiating Skills:
Every deal requires patient and precise negotiating on such important factors as price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. As your agent I can advise you as to which investigations and inspections are recommended or required.

Contract Knowledge:
It is crucial to have a full understanding of the contract that you are entering into! I will explain the details, wording and meaning of these legal documents, and keep you aware of the deadlines, deposits, paperwork, etc. involved in the Contract of Purchase and Sale. I will make sure that your needs are protected, both now and in the future, and ensure that you get what you are paying for. Above all, I will guide you through the entire purchasing and closing process and make sure everything flows together smoothly.

When Selling Your Property, a I Will Help You With the Following:

Market Evaluation:
My business is to know what’s going on in the real estate market in your neighbourhood, and will provide you with accurate and up-to-date information on pricing and market activity, including details on the price, financing, terms and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.

Advertising:
I have the right tools and know-how to get the word out to other real estate agents and to qualified buyers. I will help you with staging your property so that it shows in the best possible light. I can also recommend repairs or cosmetic work that may increase your property’s selling price and saleability. I can take advantage of the Multiple Listing Service, as well as their own websites and buyer networks. I can host open houses for other REALTOR’s and homebuyers, and will assist in coordinating appointments to show your home to pre-screened, qualified buyers and accompany prospects through your home to point out the properties strengths, answer questions and to ensure the security of your home.

Contract Negotiation:
I will objectively evaluate every buyer’s offer without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing –a lot of possible pitfalls. I can help you write a legally binding, win-win agreement that will be more likely to make it through the process and protect you in the long run.

Closing Process:
Between the initial offer and the final closing (or settlement), questions and issues may arise. For example, unexpected repairs, financing snags or an issue in the title is discovered. The necessary paperwork alone is overwhelming for most sellers. I’m the best person to objectively help you resolve these issues and move the transaction to completion.

Don’t Be Fooled By Low Fees:
REALTOR’s and their related Brokers charge various fees for services. Some Companies will claim to offer the same services as their competitor for a lower fee. Make sure before you list with any company that you get a written marketing plan that details all of the services provided. The more exposure your property receives the more likely you are to achieve a higher selling price.
Can You Do It by Yourself?

Although it is true that a few people have been able to stick a For Sale sign on their lawn and sell it themselves in a reasonable amount of time, the level of effort, expense and hassle often isn’t broadcast. For both buyers and sellers, stop and think about how much you trust the honesty, abilities and legal knowledge of the layperson with whom you are about to enter into one of the most important transactions of your life. As with any profession if you decide to take on the role yourself, you must fully comprehend the potential legal and financial risks, as well as weigh up the potential savings against the extra work and time.

Food, games, Beer Gardens, Music & More.

Secord Community League Memberships available for purchase at the event.

We want to thank Hopewell Residential Edmonton for their continual support of our community and their generous donation towards food for our Epic Block Party! ** Upon arrival please check in at our welcome/membership table to receive your food ticket. Fat Franks will be on location.

For legal reasons we will also need to check for ID and community membership before entrance to the beer tent, so please remember to bring with you. (Kids are not permitted inside the tent.)

We will have many activities including bouncy castle, inflatable soccer TBC, games hosted by CIty of Edmonton, glitter tattoos and activity tables hosted by the EPL and Allstate Grange.
Beer available for purchase in the beer gardens.

Thank you to our many sponsors of the event including: All Weather Shelters Inc., Rob Smashnuk Realty, Relife, All State Grange, AdaptAbilities, RBC Webber Green, EPL, City of Edmonton. Big thanks to Hopewell Residential Edmonton for being our food sponsors of the event!