August 2017 YEG Market Report


 Dear Friends,

I hope you are enjoying the long, sunny months and have the chance to really relax and soak in the summer rays.

And what better way to enjoy the extra hours of daylight than a summery BBQ with friends and family? Check our guide to putting together the perfect summer dining experience from what to cook to how to decorate.

Also in this month’s newsletter, for an up-to-date look at what is happening in the world of real estate, we’ve included the latest market report and a news brief on the proposed mortgage changes.

On the more light-hearted side, if you are looking for something to do with family and friends this month, look no further than our guide to the most fun, upbeat events happening around the city.

No matter what your needs are, we have you covered. Whether guiding you in the direction of summer fun with our recommendations or helping you buy and sell property, I am at your disposal. Have a friend looking to buy or sell? Please keep me in mind; your referral will be put to good use.
Servus Heritage Festival (August 5-7)
More than 85 countries are celebrated at the three-day festival, really showcasing the city’s vibrant multicultural heritage.
Rock Music Festival (August 11-12)
Get ready to rock and roll with this legendary line-up of music.
Tip: Tickets are cheaper if you pay in advance.
Edmonton Airshow (August 19-20)
Take entertainment to new heights with this show of daring manoeuvres and soaring acrobatics. Takes place at the Villeneuve Airport.
Latin Festival (August 12-23)
A celebration and street festival of all things Latino with delicious food trucks, Salsa lessons and fun activities for kids.
Fringe Festival (August 12-27)
This is the 36th year running that the fringe festival takes over the city — the longest running one in North America.
Blues Festival (August 25-27)
There will be a great mix of award-winners, newcomers and favourite faces.
Park after Dark (June – September)
Edmonton’s biggest patio party is the best way to start your weekend off on the right foot. Best part, it is every Friday night this summer.
Earlier this month, the Office of the Superintendent of Financial Institutions Canada (OSFI) announced that it is planning to tighten the regulations on uninsured residential mortgages in a move to clamp down on risky lending.

The proposed changes mean that anyone taking out a mortgage would need to pass a stress test, even those who already have a down payment of 20 per cent or more. In addition to the new stress test requirements, loan-to-value measurements will need to be adjusted to local conditions and co-lending arrangements that seem to be circumnavigating the current rules, like certain bundled mortgages, are expressly banned.

As it stands now, there are already some measures in place to prevent risky lending. For example, people with bad—or nonexistent—credit records are not suppose to borrow more than 65 per cent of the value of the home they are purchasing. Even those with a solid credit record cannot borrow more than 80 per cent of the property’s value without insurance backed by the government.
But many mortgage lenders have been sidestepping these rules with bundled loans, pairing a primary mortgage with a second loan from an unregulated group. An investigation by Reuters earlier this year revealed that, by bending the rules, property buyers were being allowed to over-borrow—sometimes up to 90 per cent of the value of the home.

The new stress test on insured mortgages and the banning of suspicious co-lending arrangements are hoped to help cool the real estate market. The changes are still in draft mode and OSFI is currently accepting written feedback on the proposal until the middle of August.

The changes, if they go through, will take effect in late 2017.
Summer is heating up and so why not fire up the grill to take advantage outside dining. A little bit of planning can take your BBQ to the next level—these easy tips take the stress out and put the fun in!

Keep the set-up simple
There is really no need to go all-out when it comes to summer dining; the blooming flowers and lush greenery already set the perfect scene. The biggest consideration is seating. Throw down some picnic blankets and cushions for extra space alongside the usual lawn chairs. For extra oomph, string up some white Christmas lights.

Potluck is perfect
Don’t be shy about asking guests to pitch in and bring sides, drinks or deserts. As the host, focus your attention on just a couple of simple main course dishes and leave the extras to everyone else.

Signature drink
It doesn’t need to be a complicated drink but choose one signature drink as a party theme —spiked lemonade, margaritas, watermelon coolers—and your party will not only be memorable but easier to coordinate on the grocery list.

Fun for the kiddies
If you’re expecting kids at your BBQ, pack away a few fun activities to keep them busy and entertained. Chalk, water balloons, face paint, a Twister board, badminton … it’s easy to keep kids (and their parents!) happy with just a little bit of planning.

Prep the night before
Don’t try to save everything till right beforehand. Not only will having some things set up the night before ease the stress … it can actually make things even better! Meat left marinating overnight, for example, has that extra tenderness and flavour and is one less thing to do in the morning.

Music for the mood
Whether you rely on Spotify or a DJ-savvy friend, have a playlist ready that you can trust. Break out those summer tunes and get your groovy dance moves going. Nothing upsets a party like bad music or a break in the playlist. Playlists are repeatable so set up a good one and save yourself time down the line.

Deep breath and enjoy
Don’t lose sight of what matters the most: enjoying time with friends and family. If you are too busy rushing around and stressing, it doesn’t matter how lovely a party you throw, you won’t enjoy it as much as taking the time to breathe, relax and just have fun. 


We want to send a special thank you to Glendon Tan for his recent referral. Our business depends on people just like him and it is extremely appreciated!



2852 Calgary Trail, Edmonton, AB, Alberta T6J 6V7, Canada

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Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.