A blog cannot deal with all aspects of a subject and is not intended to replace professional advice. It's purpose is to highlight information and identify areas of possible interest. Anyone wishing to discuss this blog or to make any comments or suggestions about this blog is invited to do so by either posting comments or emailing me directly.

 

 

We're asked this question quite often, so you're not alone.

Closing costs explained"Closing costs" is a term that you will likely hear often in your real estate transaction, whether you are buying or selling a home. The "closing costs" are the costs paid for at the end of the transaction at your lawyer's office. Many of them are directly related to the legal fees, property tax adjustments, land transfer fees, mortgage fees, etc. and generally add up to between $800 and $2,000 for the Buyer and $600 to $1,500 for the Seller - depending upon the transaction and the legal firm selected.
 
Other jurisdictions may have additional costs or may not involve lawyers in the real estate transaction (they use "Title Companies" and refer to a concept of "Escrow"). As always, you should verify this discussion within the context or your own jurisdiction.
 
A much better discussion involves the total costs included in buying or selling real estate. These costs are many and which is why it is not advisable to be "flipping"...
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The use of technology and automation in the home can help create living spaces that are convenient and energy efficient, that minimize the potential for accidents, and result in a house that is able to adapt to life's changes. Home automation provides many benefits to people with physical, sensory and mental disabilities, allowing them to live more independently. This article describes systems and devices that can control elements of your home environment such as, lighting, appliances, telephones, home security and mechanical entry and safety systems.
 
 
Source: CMHC - Canada Mortgage and Housing Corporation, Publications and Reports
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This real estate website was designed as a consumer service to help Buyers and Sellers make truly informed real estate decisions. We know that it is often difficult to get relevant information when you're looking to buy or sell a home.
 
In order to better educate and inform Calgary area Buyers and Sellers, we have provided comprehensive information as a free, no-obligation service. Many Buyers and Sellers who visit this site are so impressed with this service that they will contact us in order to assist them in the purchase or sale of their home.

 

Let's face it, there is so much information on the Internet these days that is erroneous. We have sifted through some of it and repost interesting articles here and try to always follow the licence agreements of YouTube (i.e. any venture, commercial or otherwise, may repost any YouTube video providing that it is not altered and the licence rights are restricted by the poster) or where we cite other published articles, we always try...
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Home Buying in Calgary
 
 
In the December edition of the National Association of Realtors newsletter, there is an interesting article about home buyers. It said:
 
When buyers were asked where they first learned about the home they purchased:
 
  • 40 percent said the Internet
  • 35 percent from their real estate agent
  • 11 percent a yard sign
  • 6 percent from a friend, neighbour or relative
  • 5 percent home builders
  • 2 percent a print or newspaper ad
  • 2 percent directly from the seller
  • and less than 1 percent from a home book or magazine.
I tell my sellers all the time – it’s all about the Internet these days. Newspapers, flyers, postcards, home books and magazines for marketing homes is... dead - dead - dead.
 
REALTORS® can only access real estate listings through the Internet; 88% of homebuyers use the Internet to search for homes; and of those homebuyers, 91% use a REALTOR® to purchase a home.
 
Getting exceptional professional photography, the very best advertising copy...
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Alberta’s housing market is showing increasing signs of strength, due to impressive employment gains and a strong provincial economy so far this year, and remains the most affordable province in the country, says the latest Housing Trends and Affordability Report released Friday by RBC Economics.
 
“In the third quarter, provincial home resales and housing starts picked up some steam, reaching their highest levels in more than a year,” said Robert Hogue, a senior economist with RBC. “This renewed demand for Alberta’s housing was partly a result of being an easily affordable market – in fact, the most affordable in Canada.”
 
RBC’s housing affordability measures for Alberta – which capture the province’s proportion of pre-tax household income needed to service the costs of owning a home at market values – have remained the lowest among the provinces, said the report.
 
According to the index, the higher the reading,...
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One of the many real estate investors that I follow on Twitter last week publicly posted the following video of his analysis of where he sees the Calgary real estate market headed. He has been able to put together a number of factors affecting the local real estate market into one video. He definitively shows that he agrees with what I have been saying about where the market has gone for the last year and is going 12 to 18 months into the future.
 
This video seems to take forever to load, but it's well worth the wait!
 

 

Source: Wade Graham on vimeo.com.
 
If you need some help seeing where the Calgary Market is going: Contact us today.
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Market UpdateAn article written by a senior business writer in a recent edition of the Calgary Herald peaked my interest since it's one of the leading indicators of possible rising selling prices for homes...
 
CALGARY — Demand for housing in the Calgary region is expected to increase next year as the economy expands, creating jobs and attracting more people here, says Canada Mortgage and Housing Corp.
 
MLS residential sales this year are expected to end the year at 22,200 units, an increase of 5.7 per cent from 20,996 in 2010, says the CMHC in its latest housing market outlook. released Friday.
 
Sales in the Calgary census metropolitan area in 2012 are anticipated to rise another 2.3 per cent to 22,700 units.
 
With elevated listings relative to sales, average price growth has been modest in 2011, says the CMHC report.
 
The average price for 2011 is forecast to be $402,000, up 0.8 per cent from 2010.
 
“As the supply in the resale market moves lower and ...
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The registered size of a condominium property is the only legally recognized size measurement for condominiums in Alberta under the Condominium Property Act. The Calgary Real Estate Board Co-operative (CREB®) has determined that this means it's important to ensure the accurate reporting of this legal measurement for both new and resale condominium properties listed on the Calgary MLS® System database.
 
On November 3, the Board of Directors of CREB® (on behalf of the board's membership) passed a motion to allow the total floor area field in the condominium database to be auto-populated with the information entered in the registered size field of the MLS® System database. This registered size will be automatically be uploaded to agents' premium websites and also the aggregator of the over 110 MLS® Systems in Canada, Realtor.ca (formerly mls.ca), and will automatically show what is included in the remarks section of every condominium listing. The public, and real estate...
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Market UpdateAn article written by a senior business writer in the online version of today's Calgary Herald blogs echoes what we have been saying about real estate averages for years... beware the numbers!
 
His words of wisdom are that you should not fixate on the "average" number. It is equally - or even more important - to look at the median numbers and the price ranges that are selling.
 
As a perfect example he cites, "when CREB (the Calgary Real Estate Board Cooperative) released its monthly data for October recently, we discovered the average price for a single-family home sale was $455,399 for the month while for a condo it was $282,903."
 
Then he goes on, "But here's the interesting point. In October, 51.32% of single-family home sales in the city were for under $400,000. The most popular price point was between $350,000 and $399,999 where 17.31% of all sales took place in October."
 
And then for condominium apartments and townhouses, 43.21% of all sales took place in the...
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Source: KWRI - used under standard YouTube license terms.
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Data supplied by CREB®’s MLS ® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.