Top Edmonton Real Estate Blog - July, 2020

Ritchie, Southeast Edmonton Neighborhood

Posted by Wally Fakhreddine on July 31st, 2020

Edmonton Real Estate Market Update:

 

The Ritchie neighborhood is located in Southeast Edmonton, bounded by Whyte Avenue on the north, 72nd Avenue on the south, and on the east by the Mill Creek Ravine. 

Single family detached houses in Ritchie account for 52% of all residential dwellings in the neighborhood. The remainder of residences are made up of low to medium rise apartments, row housing and semi-detached homes. The population of Ritchie is highly mobile with 40% of dwellings being rented. Approximately one out of every 4 residences were built in Ritchie prior to the end of World War II.

Real Estate prices have been on a steady climb in Ritchie, reaching an average price of $436,100 in 2014 for a single family detached…

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This is how Multiple Listing Services (MLS®) work

Posted by Wally Fakhreddine on July 27th, 2020

Finding a property can be a monumental task, especially in a hot real estate market where properties are selling within a day or two of being placed on the market. With so many realtors® and property brokers operating in specific areas, it can be extremely difficult to get an accurate look at all available properties in a timely manner. That is why Multiple Listing Service systems were created to help the real estate industry operate more efficiently.

What is an MLS® System?

A Multiple Listing Service, or MLS®, is a tool utilized by real estate brokers to obtain and disseminate information on properties to other real estate professionals. The main priority of these systems is to advertise the commission rate being offered by listing brokers on a…

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