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Overpricing V.S. Pricing Via a Comparative Market Analysis 

Most sellers want to get as much money as possible back by selling their home. Regardless of how they come to a price, most sellers set the price high at first, then naturally come down a little if they don’t get any serious offers. Sellers can often overestimate the price of their home for a number of reasons, such as sentimental value, hours of labour and money put in for renovations or upgrades, and so on. 

The last thing sellers want to be told is that their home is worth less than what they thought it was. Setting a fair price that both parties agree on is crucial regarding the client-realtor relationship. Setting the price of your home based off of the evaluation of a licensed…

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The first quarter of 2020 saw a steep decline in employment rates within the Edmonton area, as 24,000 positions were lost in February 2020. COVID-19 layoffs thawed after the winter, and in February 2021, 12,000 of those 24,000 positions were regained as employment started to rise. (Via Statistics Canada.) 

The market has been heavily influenced by COVID-19, but has since begun to slow down. A few things could cause this to happen. For one, the prospect of international travel and the ability to spend money elsewhere for buyers appeared on the horizon after the deliverance of vaccines to Canada. 

Most importantly however, the slowdown in affordability is being caused by the sanctioning of mortgage stress tests, implemented by the Finance Minister of…

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