Source: Used under standard YouTube license terms.

Source: Used under standard YouTube license terms.

Source: Used under standard YouTube license terms.

Source: KWRI - used under standard YouTube license terms.

Source: Used under standard YouTube license terms.

Calgary, May 1, 2012 – For the month of April 2012, year-over-year sales activity improved across all sectors in the city. Calgary residential sales total 2,200 for the month, a 26 per cent increase over levels recorded last year.

 

“The growth in full-time employment, combined with improving migration levels, is translating into improved demand for housing,” says Ann-Marie Lurie, CREB® chief economist. “While sales growth does seem exceptionally strong, it is important to keep in perspective that the sales activity in Calgary is returning to levels more consistent with the long-term average.”

 

The single-family market continues to tighten, with months of supply dropping below three months. Sales growth continues to outpace new-listings activity, placing downward pressure on inventories. As the market tightens, single-family homes are selling quicker,...

Unlike renting, when you buy a home your mortgage payments are helping build your net worth. You’re saving a pool of money you can borrow against a portion of down the road or receive when all you sell.

 

Buying a home is like having a “piggy bank” that pays interest. You build equity over time by: 1. Paying down the mortgage commitment, and 2. Through any increases your home’s value. Home ownership also helps hedge against inflation.

 

Owning your own home gives you the freedom to make your living space your very own and with the satisfaction of knowing that any improvements you make will likely increase the value of your home; benefitting you, not a landlord.

 

Homeownership gives you a sense of stability and security. It is making an investment in your future.

Before you start the search for a new home it’s important to set a budget.

 

Considerations include:

• Will you need a mortgage?
• Do you have savings...

Source: Used under standard YouTube license terms.

Source: RECA - used under standard YouTube license terms.

"Remember, it is best for all involved if concerns are dealt with up front in a real estate transaction."

About RECA: The Real Estate Council of Alberta (RECA) is an independent, non-government agency responsible for governing the real estate brokerage, mortgage brokerage and real estate appraisal industries under the Real Estate Act of Alberta.

Source: Used under standard YouTube license terms.

Last month, the federal government published a Mortgage Prepayment Code to ensure borrowers are better informed by lenders (federally regulated institutions) when it comes to situations where mortgage prepayment penalties may be charged – namely, for the purpose of clarifying interest rate differential (IRD).

 

This is a positive step, because IRD calculations and penalties have traditionally been very confusing to borrowers.

 

IRD is a charge many borrowers face when paying off a mortgage prior to its maturity date, or by paying the mortgage principal down beyond the amount of annual allowable prepayment privilege limits. And IRD penalties can prove quite costly depending on the remaining mortgage term.

 

IRD is based on:

Source: RECA - used under standard YouTube license terms.

When you buy or sell property or need to secure a mortgage, using a licensed real estate industry professional gives you certain protections you would otherwise lack. RECA licences all industry professionals in Alberta. Check if the person you are dealing with is licensed at www.reca.ca

About RECA: The Real Estate Council of Alberta (RECA) is an independent, non-government agency responsible for governing the real estate brokerage, mortgage brokerage and real estate appraisal industries under the Real Estate Act of Alberta.

We had predicted this quite some time ago, but it appears the revolution has started.

 

One of our brokerage's clients is in the process of purchasing a former grow-op. And guess what? His insurance company and agent that he has done business with for years, has refused to insure the house that he had planned to purchase.

 

These kind of risky purchases (grow-ops, foreclosures, and bank sales) are just that - RISKY! I'm sure this Buyer client is using a knowledgable and experienced agent that put into the "Offer to Purchase" the condition of being able to find insurance. This is just one of the many conditions that a knowledgable real estate agent will suggest to their clients to have inserted into the Offer to Purchase. Finding out after the sale is FIRM would be a real expensive lesson for someone.

 

If anyone ever questioned the value of an experienced, and fully-trained industry professional to help them purchase or sell a home, this is just one example that shows that...

The idea of buying a home is really exciting. In fact, it could be one of the biggest decisions you may be planning to make in your life so far. That is why I wanted to send this information along to help you best prepare. Please let me know if you have any questions about your financial affordability to purchase a home. As an Accredited Buyer’s Representative, I always have your best interests in mind and want to see you get the home of your dreams. Continue to post.

 

Two Alberta consumers discuss their experience with the purchase contract they signed when buying their new home.

Source: Real Estate Council of Alberta. Used under standard YouTube license terms.

Real estate analyst, Barbara Corcoran explains how to go about buying a condo for your son or daughter and why it's far better than living in the dorm. We'd be glad to chat with you about how to make this is a great real estate strategy for you. Contact us today.

 

Source: Used under standard YouTube license terms.

Source: KWRI - used under standard YouTube license terms.

Buying residential real estate is a complex and multi-faceted process. There are challenges and opportunities for negotiation at nearly every step in this process. Using persistence and a great deal of calmness in discussion to reach an agreement may be an unfamiliar skill to many buyers and even with the assistance of an experienced real estate agent, a buyer's emotions may get the better of them since they have a personal stake in the outcome. As a result, it is important for buyers to be armed with some commons sense tips to make the process go more smoothly.

 

For buyers, effective negotiating skills for buyers is something that can't be taken for granted as a known skill in a real estate agent. They often need additional training in this complex task, especially if they haven't worked in an executive level of a company or are newly licensed since the licensing program focusses mainly on seller and their needs. Buyers...

Everyone cares about how much crime there is in an area that you want to buy a home in, but it's always been difficult to find consistent sources for data on crime. The Calgary Police Service has come out with a Crime Map that not many people are aware of. This could very well be the solution we’ve been looking for. Check it out!