What Did Oil Do To The Value Of Your Home?

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You’re not the only one wondering. We recently found an article that best
describes how the price of oil has impacted your home’s worth. The
economy? The numbers? The housing market? John Rose covers it all.

Recession? What recession?

Article by Gary Lamphier, Edmonton Journal | Read Original Article

Edmonton’s large public sector and diversified local economy will enable it to narrowly duck the oil-driven economic downturn that has slammed Calgary and other parts of the province this year, says Rose, the city’s chief economist.

When the final numbers are in, he figures the Edmonton economy will grow 0.7 per cent this year before edging up to the 1.5 per cent range in 2016. While that’s no reason for a parade, it’s not a disaster. It’s a message Rose badly wants to get out.

“When I’m talking to my colleagues out east they just assume we’re all crying the blues,” says Rose, who spent much of his career in Ontario before moving to Edmonton in 2010. “But Edmonton is going to get through this without too many scrapes or bruises, unlike Calgary.”

Rose, speaking Monday to an Edmonton Rotary Club audience, says Alberta’s capital city has continued to generate employment growth at a time when oilpatch job losses have skyrocketed. That growth is thanks partly to the city’s ongoing commercial and residential construction boom.

“We generated 3,000 full-time net new positions in the month of August. For that to happen at this point in an energy downturn is a remarkable statement of the diversity and resilience of the Edmonton economy,” he says.

“We’re at 5.5 per cent unemployment. We’re doing very well relatively speaking, particularly in comparison to Calgary. Their unemployment rate is now 6.6 per cent and rising. And it’s rising for the wrong reasons — they’re losing jobs.”

Edmonton’s housing market has also held up well, he says, despite a deluge of gloomy headlines in the national media about Alberta’s economic woes. The median home sales price in September was $357,000. That’s up three per cent over the previous year, despite a nine-per-cent drop in sales.

“Three per cent is respectable in any given year. Now, I’m not expecting that to maintain itself. As we get into 2016, the housing market will get increasingly sloppy and we’ll probably see zero-per-cent growth (in median prices). But I’m not anticipating any kind of severe crash,” he says.

Rose’s outlook is predicated on gradually rising oil prices. He sees the price of benchmark grade West Texas Intermediate (WTI) light crude stabilizing in the $45 to $50US per barrel range by year’s end — it closed at $46.26 Monday — rising to an average of $54 in 2016 and $70 beyond that.

That’s roughly in line with the projections of most energy analysts, although some, such as Goldman Sachs, see more downside ahead.

The rout in crude prices, which have fallen by half in the past year, has forced energy companies to lay off tens of thousands of workers and slash capital spending programs. Much of that pain has been felt in places such as Fort McMurray, Nisku and the office towers of downtown Calgary.

A recent report by a Calgary investment firm estimates that oilsands investment alone has plunged from a peak of $31 billion in 2013 to the $16 billion to $18 billion range this year, with little new spending on the horizon unless oil prices improve.

As a result, Rose expects Alberta’s economy overall to shrink 1.5 per cent this year before rebounding to modest growth of about two per cent in 2016. And if oil prices do get back to the $70 range over the next two or three years, Alberta’s economic growth should also pick up.

“We’re beginning to see what I would call some glimmers of hope, particularly in the North American energy marketplace,” says Rose, who spoke to the Journal before his presentation.

“It finally looks like U.S. production is levelling off, if not trending down a little bit. And both the International Energy Agency and OPEC (the Organization of Petroleum Exporting Countries) have slightly increased their estimates for global oil demand over the next couple of years,” he says.

“So those two factors combined will, I think, provide a floor for oil prices going into 2016 and then a bit of a gradual improvement after that.”

Rose is hardly ignoring the potential negatives. In the short term, he expects more “doom and gloom” stories over the final few months of 2015, as more layoffs push Edmonton’s jobless rate back up by year’s end.

Longer term, he has bigger worries. If oil prices don’t get back to at least $60 a barrel — a level he believes is necessary to justify further capital investment — Alberta’s continued economic growth is a big question mark, he says.

“This is my real concern, that without oil prices getting above $60 a barrel and ideally higher than that, we’re not going to see the kinds of incremental investment in new capacity — particularly in the oilsands — that were really driving Alberta’s economy,” he says.

“Energy will continue to play a very significant role in the provincial economy. But where is the growth going to come from? That’s always been related to incremental investment.”

New Years Home Resolutions

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Every year on December 31st, the clock strikes midnight and we all vow to make drastic changes in our lives. It’s a new year, and we are committed to sticking to those decisions! What about your home-do you think about making house resolutions? Maybe you should start! Here are some ideas to get you started on the right foot.

No. 1
Streamline

De-cluttering your home, and keeping it that way, is a fantastic way to reduce the stress in your life. This one will check off two resolutions! We accumulate so many things throughout the year and often don’t realize how much stuff we actually have. Commit to going through your belongings, room by room, to donate or get rid of anything you don’t use anymore. This doesn’t have to be a weekend thing, you can take your time! Remember, the point is to get rid of stress, not create more of it.

No. 2
Cut Down on Energy use

This one will be good for your wallet AND for the environment. It’s a win win. Small things make a big difference, such as turning down the heat (winter) or air conditioning (summer) when you are not at home. It only takes a few minutes to warm up or cool down when you get home, and this will help with energy costs. A great tool I use is the NEST thermostat, which adapts to your schedule; it changes the temperature depending on the time of day in order to be more eco-friendly. Another big one is shutting off lights when you leave the room. I’ll admit, I am terrible at this. It just isn’t drilled into my brain yet. But it is such a simple thing that does reduce your energy usage.

No. 3
Weekly cleaning

I often fall behind on cleaning the house, and I feel that it is because I don’t have a schedule! This ties in with streamlining, but create a routine that works around your schedule. This way, you don’t feel overwhelmed as you know exactly what needs to be done on what day. Simple!

No. 4
downsize

Assuming you stuck to your decluttering resolution, start really thinking about things that you buy. Do you really need it? Will you use it often? Is there a place for it in your home? If you can’t answer yes, then you probably don’t need it. You just streamlined your home! Don’t end up back where you started.

No. 5
Organizing

Now that you have decluttered, and you are not buying things you don’t need, it’s time to find efficient spaces for all of your things. Labeled bins, storage boxes, wicker baskets; find a spot for everything. This eliminates the “Where did I put that?!” dilemma that we all go through when we are rushing to get out the door.

No. 6
Gardening

How much easier would life be if you could grow everything that you eat? Unfortunately, that’s not the reality for most of us. However, you can easily grow vegetables and herbs for yourself. Make the commitment to plant a garden this year- or if you are a seasoned gardener, to make this year the best one yet!

No. 7
Indoor plants

Once you get the hang of outdoor gardening, you’re ready for some indoor plants! They are so helpful with purifying the air! There are a lot of beautiful plants that are ridiculously easy to grow, so you can incorporate them even if you don’t have the greenest thumb. Here’s a great article of some of the most detoxifying plants. https://www.rodalesorganiclife.com/garden/7-plants-purify-indoor-air

No. 8
Seasonal decor

Keeping up with seasonal decor: This is one of my resolutions for the new year. I always have these grand plans for decorating a couple months before a holiday, and they normally fall apart right before it. Things get busy and decorating falls behind on the task list. But, holidays are wonderful and the decor adds so much to the feeling of it. So, this year, I am determined to stick to those grand plans!

No. 9
Connect with Neighbours

The winter months normally trap us in our homes and away from our neighbors. Friendly hello’s while outside don’t occur as often, and we are all so busy with family and friends during the holidays. Make the effort this year to connect with your neighbors! Did you know St. Albert has free block party kits that you can use? Free hamburgers, hot dogs, and buns are provided by the Neighborhood Watch and Citizens Patrol. You have no excuse now!

No. 10
Get Down + Dirty

You know those home maintenance tasks that you keep saying you will get to? Well, maybe it’s time to get to them. It could save you a lot of money in the long run! So, clean out your tub drains, the gutters, underneath the deck- someone’s gotta do it!

Do you have any other New Year’s Resolutions on your list? Whether it’s related to your home or not, we would love to hear about it!

Professional Photography

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Sarasota has our very own professional photographer who takes photos of all of our homes- those that we build and also those that we list for sale. You might not think it makes a difference, but trust us- it does! Did we mention that we do this for free when you list with us?

It’s 2018 and almost everything can be done online. Why go to a store when you can see what they have on their website? You are looking for a dress but you don’t want to waste time going to a store before you know what they have. So you look online, the pictures aren’t great and the outfits look frumpy on the models. Would you still go to that store? Probably not! You come across another shop that has amazing photos and the clothes look like they would look good on anyone. Yes! That’s the one you’re going to!

See the difference? Your home needs to be presented the best it can be online because the majority of people looking to buy will check out the website before anything else. They do their homework, so that they have an idea of what they want to see once they contact our realtors. If the photos of your house are eye catching, bright, and beautiful then buyers are more likely to be intrigued to see it in person. Check out some of these professional photos and see for yourself! You want to go see these homes now, don’t you?

 

Staged To Sell – Meet Our Team: Kristin

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Staging by Sarasota Realty, St. Albert

Kristin Boser: Sarasota Realtor + Décor Fanatic

When she’s not staging homes to sell, you can find her writing up deals, closing realty sales, and showcasing her day to day life on Instagram: @itsaboserlife. She’s a dreamer and she makes her dreams come true – hand selecting staging items for “who would live in this home.” With Kristin on the job, your home will find itself catering to your potential buyers, who she may just bring through later in the week.

Staging by Sarasota Realty, St. Albert

Staged To Sell

: Staging your St. Albert home to sell – for free. Our multi-talented team of home stagers are well versed in the art of creating spaces that appeal to the tastes and desires of BUYERS.

Learn More

Staged To Sell – Meet Our Team: Kristen

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Staging by Sarasota Realty, St. Albert

Talented Artist + Interior Decorator

Kristen’s eye for detail goes unmatched! It is no wonder she is our in house creative and perfectionist - meticulously tucking away cords and tags, ensuring each piece of furniture is perfectly fluffed and cleaned, and expertly hanging artwork. With Kristen on the job, you can be rest assured that your home will be staged with excellence as she knows just what to do to make your home shine! When she’s not staging homes to sell, you can find her making memories with her beautiful family and friends, or creating amazing works of art for Sarasota. Follow her on Instagram: @kguiltz

Staging by Sarasota Realty, St. Albert

Staged To Sell

: Staging your St. Albert home to sell – for free. Our multi-talented team of home stagers are well versed in the art of creating spaces that appeal to the tastes and desires of BUYERS.

Learn More

Staged To Sell – Meet Our Team: Lisette

By | For Sellers, Home Staging & Interior Design, The Sarasota Team | No Comments
Staging by Sarasota Realty, St. Albert

Home Stylist + Interior Decor Professional

With her education in interior decor and over a decade of experience in visual displays and spatial planning, Lisette has an eye for creating beautiful spaces that appeal to the masses. Whether it’s incorporating the right accessories, accentuating spaces with color, or simply decluttering a space, with Lisette on the job she’s sure to make you and your potential buyer LOVE your LIST. When she’s not staging homes to sell, you can find her laughing the night away with her family, red wine in tow for sure. Follow her adventures in design and motherhood on Instagram: @sluser.

Staging by Sarasota Realty, St. Albert

Staged To Sell

: Staging your St. Albert home to sell – for free. Our multi-talented team of home stagers are well versed in the art of creating spaces that appeal to the tastes and desires of BUYERS.

Learn More

Out and About | October Updates With Sarasota Realty

By | For Buyers, For Sellers, New Homes For Sale, Out and About, Real Estate | No Comments

On Wednesdays, We Tour.

Amidst the meetings, showings, and shameless coffee runs, the Sarasota Realty team gets together every Wednesday to talk all things real estate. Afterwards, they tour new listings for the week so everyone is up-to-speed – Kristin, of course, makes this much more fun than it sounds.

With summer behind us and the pop-up market at a close, we’re embracing the cold weather whole-heartedly (sort-of because we have no choice but sort-of because hot coffee will keep our souls warm).

Holiday Minis are a yearly fall/winter photo event hosted in our showhomes by local photographers. Keep your eyes on our Facebook Page to see what photographers are available to book – the official date is November 25th but a few are tentatively booking into November 18th as well!

Santa Claus is coming to the neighborhood December 9th and we’ll have details soon on bringing your little ones into a showhome to say hello to the man himself.

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SARASOTA REALTY p. (780) 460 2222 f. (780) 458 4821 25 Carleton Drive St. Albert, Alberta T8N 7K9