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GRANDE PRAIRIE
ALBERTA, CANADA
Grande Prairie
Real Estate
Kelly McLeod, John Krol, Casey Van der Kaa, Gail Haakstad, Jeannie Schultz, Joan Prankie are some of the top Real Estate people in Grande Prairie. Check out their listings on this page as well as their websites for more listings.
DiscoverThePeaceCountry.com
Homes for sale in Grande Prairie and area.
SELLING YOUR HOME
Getting the most for your home depends a lot on how it looks. Having your home clean and tidy is probably one of the most important things to do. A garbage bag full of debri by the kitchen door, or a sink full of unwashed dishes are big turn-offs as well as broken blinds, damaged walls. Sometimes a bit of plaster and paint can make a world of difference on the presentation of the home.
One of the first things to do is to determine the maximum home price based on your financial situation. Make a list of things you would like to see in your new home. (more bathrooms, a garage, bigger yard etc). Most people require the assistance of a Real Estate Agent to help in viewing potential properties and also preparing the proper paperwork when purchasing the property.
HISTORY - TRENDS
The Grande Prairie Real Estate Market has seen some unusual changes in recent years. (2005-2006) With so many jobs and not enough people to fill the positions, there was an influx of people moving to Grande Prairie. Homes couldn't be built fast enough as most of the homes on the market sold quickly. At the peak of the crunch, many properties were sold before the Grande Prairie Real Estate agents could put up a "For Sale" sign.
More carpenters, more roofers, more plumbers, more electricians etc were needed. Getting people to work was one problem, getting them a place to live was a much bigger problem. Some families ended up in a one room hotel for months because they couldn't find a home to live in. There were a few months when houses were selling higher than the listed price. Increases of $10,000 to $15,000 per month were seen on some new homes. Nearby hamlets and towns also seen price increases as well.
With the shortage of homes for sale in the Grande Prairie Real Estate Market, it also affected the amount of available rentals on the market. Prices of apartments and other rentals started to increase. There were many people who now could not afford the cost of rent and for the first time, Grande Prairie started to see a large number of people living in RVs year-round at nearby campgrounds.
In the summer of 2007 there were signs of the market levelling out. There was now more supply of homes on the market and for the first time in years we seen homes advertised with "reduced prices, eager to sell". The market was now separating the real sellers from the speculators.
May 2007- The Alberta Government has introduced new laws pertaining to rent increases. For many years rent increases could be done 2 times a year and had to have the 90 days notice of rent increase to the tenant. The new law states only 1 increase can be made per year. This however does not regulate the amount of the increase. If a landlord is converting an apartment building into condominiums, each tenant must be given one years notice.
Dec 2007- Grande Prairie has now the highest "apartment " vacancy rates in Alberta with 4.9%. That compares to .01% a year earlier. One of the reasons why there was such an increase, is that there had been a large number of apartments under construction and recently were completed flooding the market. (Canadian Mortgage Housing corporation did a Rental Market Survey of apartments only). Checking the classifieds of the Grande Prairie Daily Herald Tribune, there seems to be more rentals available and the prices have started to fall. Those units that are still well over-priced are now sitting on the market with no tenants. Not a good situation for some investors who came in the market late when it was high and who now need a certain "high price" to pay the mortgage.
GRANDE PRAIRIE HOME IMPROVEMENT - RENOVATION
March 2011: A new feature is now posted on DiscoverThePeaceCountry.com. The Home Improvements - Renovations page is where a number of Grande Prairie businesses showcase their products and services to help you update your home.
NOW POSTED 2012 Events of the Peace Country
| *CAREERS *AUTOS FOR SALE *FLYERS *RENOVATIONS *BUSINESS DIRECTORY *LOCAL VIDEOS *HOME | |||
GRANDE PRAIRIE REAL ESTATE
Homes for sale in Grande Prairie, northern Alberta
CANADA EMPLOYMENT NUMBERS DOWN
Dec 2011 - Canada employment numbers show that in the last few months the numbers are dropping, which is making Canada's Economy soft. (prices of homes don't usually increase when market is soft). Last month Royal Bank had record earnings as well as Bank of Nova Scotia.
(Construction of a number of homes continues on the west side of Grande Prairie - Fall 2011.)
SINGLE DETACHED HOMES BUILT IN ALBERTA UP- Sept 2011
When comparing numbers for the month of September, in 2011 there is an 11% increase in the construction of Single Detatched Homes in Alberta from September 2010. On the otherhand Multi-Family starts were down almost 32%. (apartments, condos, duplexes).
HOUSING STARTS IN CANADA UP
The Housing Starts have climbed 4.3% in Canada in July and that sector seems to remain quite healthy. Housing starts include building of single detached homes, semi-detached as well as appartments.
ROYAL LEPAGE GRANDE PRAIRIE HAS NEW OWNERS
June 2011- Jamie Menzies has sold the Grande Prairie Royal LePage to a couple of local people, John Krol and Angie Peters, who have been part of Royal Lepage for many years. (sales and property management) It has been announced that Angie Peters is the new Broker.
POSITIVE SIGNS IN LOCAL ECONOMY
The chair of the Grande Prairie Chamber of Commerce (Dave Cook) was recently on Big Country 93.1 News talking about higher home sales in Grande Prairie, more new local businesses, and many businesses hiring more workers, saying they were signs that the local economy is doing pretty well.
LOCAL HOUSING MARKET ON THE RISE
March 2011 - According to the Grande Prairie and Area Association of Realtors, home sales increased by 29% in January compared to last year. This is signs that the economy is improving and part of increase is because of the new mortgage rules coming out March 18, 2011. The average price of a home in Grande Prairie is $257,401.
MORGAGE RATES ARE ON THE RISE AGAIN
Feb 2011 - Most major banks have increased their 5 year rates. (up .25% to 5.44%) Some analyists are predicting more hikes later this year. Also the Canadian Real Estate Association is expecting that the average Canadian home could rise 1.3% to $343,300 in 2011. Manitoba and Quebec would have the highest increase while in Alberta home prices are expected to drop 1.4% to $347,300.
TIGHTER MORTGAGE RULES
New mortgage lending rules will become effective March 18, 2011 to help Canadians avoid going deeper in debt. The government is reducing the maximum amortization period for mortgages from 35 years to 30 years. The amount one can borrow from the value of their home will also drop from 90 per cent to 85 per cent.
GRANDE PRAIRIE HOME SALES DROP
Nov 2010- The Grande Prairie and Area Association of Realtors have released information that indicate home sales in Grande Prairie have declined by about 6% in October compared to October of last year. Even though the number of listings increased by 10%, the average price dropped by 2%.
PRIME RATE NOW 3%.
Sept 2010- All the major banks in Canada have increased their Prime Rate from 2.75% to 3% effective September 9, 2010. The Prime Rate is a reference interest rate used for lending rates (mortgages and line of credit).
HOUSE PRICES LEVELLING OFF ACROSS CANADA.
Sept 2010- The cooling housing market continues across Canada, and what happens in the United States in the next few months will determine what the prices will be in Canada. Currently the average home price in Vancouver is $658,000, Toronto - $420,000, Calgary - $403,000, Edmonton - $330,000, Ottawa - $322,000, Montreal - $307,000.
MORE CONSTRUCTION IN GRANDE PRAIRIE SO FAR THIS YEAR
August 2010- Canada Mortgage and Housing Corp released information indicating single-family construction starts in Grande Prairie and area are a bit higher than compared to last year. So far this year as of July, there were a total of 303 single-family home starts compared to 207 from January-July last year. There were also more single-detached home starts in July this year compared to last year.
HOME SALES DECLINE IN JUNE
July 2010 - Information that has been released by the Grande Prairie and Area Association of Realtors indicate that home sales declined in June as compared to last year at this time by 33%. There were 12% more listings on the market in June and even with the more supply of homes, the over-all price was up by 4% over June of 2009. (more expensive homes were selling which brought up the average price) The average price of a home in Grande Prairie is now $270,000.
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May 2010- The Grande Prairie Real Estate Market is much stronger in 2010 than 2009. At this point, it looks good for the rest of the year too. You can watch an interview with Jamie Menzies, President of the Grande Prairie and Area Association of Realtors with more information. Play VIDEO> 2:10min. |
HOUSING STARTS INCREASE ACROSS CANADA
June 2010- Housing Starts across Canada (January to May) saw single detached homes increased 80% over the same time period in 2009. Multi family units, duplexes and apartments increased by 50%.
BANK OF CANADA RAISES SHORT-TERM RATES: May 2010- The Bank of Canada raised its short-term rates by .25 percentage points, the first increase since July 2007. Canadian banks followed by increasing their lending rates as well. A mortgage payment would increase about $12.00 a month on a $100,000 mortgage.
April 2010- Royal Bank of Canada and the Bank of Nova Scotia have raised fixed interest rates by another 1/4 percent on April 13, so the new 5-year mortgage rate is now 6.10 percent. Also, as of April 19, those wanting to buy investment property (ex: rental property) will have to put a minimum down payment of 20 percent. Big increase from 5 percent. This change could affect the amount of new rental properties being developed, which could lower the vacancy rate and result in higher rent. The new rules also change the qualifying benchmark for homebuyers. Everyone will need to qualify for a five year fixed mortgage even though you may choose a short term or variable mortgage.
April 2010 - It has been reported in the news that the Canadian Economy has grown 6.2% in the first quarter of this year. That is better than other G-7 nations. It is anticipated that this trend will continue in the next quarter.
March 2010 - RBC Royal Bank, TD Canada Trust, and Laurentian Bank raised their closed mortgage rates on three, four and five year terms as of March 30, 2010. Five-year mortgages had the largest increase of six-tenths of a per cent, from 5.25 per cent to the new rate of 5.85 per cent. The other banks were expected to follow the increase. The rates have been low for over a year to help stimulate the economy, but with the signs of the economy improving, the banks needed to keep a handle on inflation.
March 2010- The Canadian Real Estate market showed that February (196,700 starts) had an increase in housing starts over January (185,400 starts) This is always a good sign. (Info per the Canadian Mortgage Housing Corp) The Canadian Real Estate Association has stated that National Sales Activities were lower in February but "New Listings" rose. The average price of a home in Canada in February 2010 was $335,000 which is up 18% from a year ago.
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Jan 2010- Update on the Grande Prairie Real Estate market indicates the average home price in Grande Prairie is $269,000. The Real Estate market is improving as reported by Jamie Menzies, President of the Grande Prairie and Area Association of Realtors, and Broker/Owner of Royal LePage, the Realty Group. See the complete interview in the latest Video. (2:10 min) |
FORECAST 2010:
According to the experts, the 2010 forecast for Canada includes a stronger growth in job creation. The economy is expected to grow at least 2.7% and house prices are expected to increase. Most likely interest rates will also rise.
Nov 2009 -According to CHMC, the housing market is most likely to improve in 2010 but it will depend on what happens with the natural gas market. The average house price has started to increase a bit. Grande Prairie has the highest vacancy rates in Alberta (for apartments) at 15.5%. The survey included the county, Beaverlodge, Sexsmith and Wembley.
July 2009- According to the Canada Mortgage and Housing Corporation, there has been improvement in the housing starts for June, and Grande Prairie had the highest jump in the Province, up 65% over last year. Realtors have indicated that the housing market in Canada is becoming more balanced, which the conditions don't favor either the buyer or the seller. In Grande Prairie May 2009 had a good month for home sales and the best since September of 2008.
Jan 2009- Overall there were 836 housing starts in Alberta in January (down from 2185 last year)
June 2008- A new Canada Mortgage and Housing survey (April) shows the vacancy rate is now at 8.8% in Grande Prairie compared to .09 % a year ago.
(One of the newer subdivisions on the southeast part of the City of Grande Prairie called Countryside North.)
May 2008- In Grande Prairie from January to the End of May there have been a total of 179 total housing starts compared to 788 during the same period in 2007.
Feb 2008- House sales are down in Alberta with Calgary being down about 30 per cent over a year ago, while Edmonton had a drop of 21 per cent. Saskatchewan is actually up in house sales, with Saskatoon up by 37 per cent and Regina up to 69 per cent.
Jan 2008- There are obvious indications that the housing market is slowing down by the number of homes being built. Statistics indicated that there was a drop of 61.1 per cent in housing starts in Grande Prairie for December of 2007. (CMHC statistics of combined single and multiple family homes)
Dec 2007- Grande Prairie is not the only city in the Peace Country that has had a sudden surge in apartment rental vacancies. For St. John's most recent number for vacancy rate is 3.9 per cent. That is a big increase over the 0.8 percent of last year. Over all the Province of British Columbia had a decline of vacancies.
(pictured above are 5 homes being built at Westpointe Subdivision in Grande Prairie - 2007.)
Sept 2007- The average price of a home in Grande Prairie climbed to $301,400, an increase of 10 per cent from $274,000 last year. Over 600 residential properties are on the market at this time, a number much higher than the previous year, which means properties now take longer to sell. Buyers have more selection and have more time to consider each property. The average amount of time a house is on the market is 47 days. The bottom line is, that houses are still being sold. From January to August in 2006, there were over 1,300 homes sold compared to about 1,200 in 2007.
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| $899,000 - 8226 Tamarack Trail. East of Grande Prairie, AB Prestigious Taylor Estates. Less then 1/2 mile from city limits you will find this immaculate property on city services. 2005 sq.ft. home with 4 bedrooms and 4 bathrooms and all the upgrades you expect in a prestigious Taylor Estates property. The professionally landscaped yard features allan block retaining walls, patio, sidewalk and plant bed, with an underground sprinkler system. Call Gail today for more information and to view. 780-512-3420 Gail Haakstad website |
$249,000 - NE of Sexsmith, Alberta MLS #L065708 Treed acreage, in Morgans Mountain subdivision, with 3 bedroom home and heated double garage. Property is set up for horses with fenced pasture and barn with loft. Livingroom features a wood burning stove. 4 appliances in house are included. Property also comes with a separate mobile home for a family member. Call Joan Prankie @ 780-518-9600 for a viewing appointment. Joan Prankie website |
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| $144,900 - $189,900 - west of Grande Prairie, Alberta The Ranch is one of Grande Prairie’s newest acreage subdivisions, west of the Wapiti Nordic Ski Trails, accessed west off of Highway 40 or south off of the Correction Line. About 5 miles south of the city limits these acreages offer city water, power, gas and are nearly completely treed with spruce, tamarack, pine and some poplar. The sandy rolling terrain offers amazing building sites with great walk-out basement potential. Lot sizes range from 2.6-3.31 acres and the CR-2 zoning with restrictive covenants. Call Kelly McLeod for more information (780-882-0185 Kelly McLeod website |
$309,900 - 8822-72 Ave Grande Prairie, Alberta MLS # L068638 It won't take long once you step into this 3 year old 1157 sq ft bilevel to see the difference that quality and attention to detail makes. Large tiled entrance up the wood inlayed stairs brings you to the bright cheery kitchen boasting dark stained cabinets with crowns and tiled backsplash, you'll enjoy the convenience of the open dining area and pantry, walkout to the back yard to the 12x16 deck, fully landscaped and fenced backyard. 3 bedrooms up with the master featuring 3 piece ensuite. Contact Casey Van der Kaa 780-831-9173. Casey Van der Kaa website |
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| $196,000 -Mountview Family Home, Grande Prairie MLS® #l064811 Great four bedroom family home in Mountview across the street from a playground, only minutes from schools and shopping. Three bedrooms up, one bedroom down, two full baths. Main floor has an open concept kitchen, living room, dining room area. The bright living room has a wood burning fireplace for cozy winter nights, which would be perfect for a gas insert. The basement is partially developed. Newer furnace and hot water tank. Wonderful storage room. Huge, fully fenced back yard with mature trees and lots of privacy. Call John Krol 780-814-1589. John Krol website |
$375,000 - northwest of Grande Prairie, Alberta 95 +/- acres just 2 miles west of Mercer Hill (TWP 730). The land borders RR 63 to the west which is paved. This land offers many possibilities for farming or acreage development. Currently used to pasture llamas and has a crop on it (leased for harvest for 2011). There is a dugout to the south west corner and a creek (north east) that runs through the property and some treed areas. There is approximately 10 to 12 acres of virgin land that is to the east of the creek. Power line is to the property, gas is across the road. Call Gail today 780-512-3420 Gail Haakstad website |
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| $550,000 - Sandy Ridge Estates Grande Prairie, Alberta MLS # L065073 Well maintained Custom Cardon Home minutes from Grande Prairie. Very private, treed acreage, perfect for the busy family. Recent upgrades include hardwood flooring, tile, silestone quartz countertops in the kitchen and mainfloor half bath, new paint, some new windows. The main floor features an oak kitchen with generous cabinetry & counter space, a south facing breakfast nook opening onto a deck, formal diningroom, family room with wood burning fireplace and livingroom. 3 bedrooms upstairs. Call Jeannie Schultz 780-978-0485. Jeannie Schultz website |
$339,900 Crystal Heights Grande Prairie, Alberta MLS # L068207 Beautiful 1347 sq ft bi-level, close to two elementary schools. Fully developed with 5 bedrooms and 3 bathrooms. Large entrance way with walk-in closet. Double garage is drywalled and painted. You will love entertaining in the huge kitchen, with lots of counter space, and a corner pantry. Back yard landscaping features continuous concrete curbing and chainlink fencing. Other features are deck, tinted windows, security system, & gas fireplace in rec room. There is nothing to do, but move in and ENJOY !! Call Joan Prankie @ 780-518-9600. Joan Prankie website |
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| $1,500,000 southwest of Grande Prairie, AB Absolutely beautiful 160 acres Southwest of Grande Prairie. Completely treed in huge mature poplar, spruce, tamarack and pine and features awesome rolling terrain throughout. Bordered by crown land to the west, overlooks Spring Creek and is just a short walk from the banks of the Wapiti River. This property is easily accessed from the correction line or Highway 40 and is now in very close vicinity to the new city water line which services rural land south west of GP. Call Kelly McLeod for more info 780-882-0185 Kelly McLeod website |
$95,000 - NE11-74-5-W6, near Sexsmith. AB. MLS® #L065115 New subdivided nicely treed lots with rolling hills for great views and walkout. 1.5 km east of Spruce Meadows Golf course approx 20 min drive from Grande Prairie. These are hard to find locations and lots each lot giving approx 10 acres with loads of building sites. Zoned CR2, power will be brought up new road that services the lots and gas is at main road. Only 1.5 km off pavement. GST is applicable, 3 lots remaining availible. Call Casey Van der Kaa 780-831-9173. Casey Van der Kaa website |
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| $320,000 - Country Club West, Grande Prairie MLS® #l068146 PRICED TO SELL! Five bdrm, three bath family home close to schools, walking trails, dog park and playgrounds. Three bdrms on the main, master bdrm has walk in closet and ensuite with separate jet tub and shower. Open concept living, kitchen, dining area with vaulted ceilings has laminate and ceramic tile floors. Kitchen has lots of cupboard and counter space. Living room is large with big windows. Basement has two large bdrms plus a den. Extra large family room. Back yard is private with two-tiered deck and hot tub. Call John Krol 780-814-1589. John Krol website |
$485,000 - Grovedale, Alberta MLS # L066878 Country Living! Located within easy commuting distance of Grande Prairie, this private, treed acreage is well established with a fully developed bilevel home, oversize double attached garage (25x30) and metal clad quonset shop (32x50). Features of the property include a woodburning fireplace with gas ignition, 3 full bathrooms, wet bar with fridge, mudroom/laundry room off the garage basement entry, deck, fully fenced back yard, garden spot, partially (1/3) heated shop Contact Jeannie Schultz 780-978-0485. Jeannie Schultz website |
Royal LePage Grande Prairie is the exclusive Real Estate Company supporting DiscoverThePeaceCountry.com. ROYAL LEPAGE WEBSITE |
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