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.
December 26, 2011
TD Economics Report - Calgary to come out a winner
Categories:Buying a Home In Calgary,Calgary Real Estate,Condos for sale,Market Trends,Property Virgins,Relocating to Calgary,Selling a Home In Calgary
At the end of last week, another report from one of Canada's largest banks was released in regards to the Canadian housing markets. This time it was from their research branch: TD Ecomomics (for TD Bank, TD Waterhouse, TD Canada Trust).
They report that the Canadian housing market in 2012 will be in a battle between on the one side: low interest rates, and on the other side: economic uncertainty along with slow income and employment growth.
It's forecast that there will be huge price corrections in both the metro Toronto and metro Vancouver markets which have again heated up in 2011 - especially in the apartment condo markets. Combined with the price corrections, they also forecast a higher that average sales corrections for both cities in the next two years.
TD estimates that house pricing, on a national basis, are over-valued 10 to 15 percent, although that is expected to drop over the forecast period.
According to the report, there has been little upward pressure...
December 15, 2011
Reverse Mortgages vs. Home Equity Lines of Credit
Which is better: A home equity line of credit or reverse mortgage? Let’s compare and see what’s best for you.
If you want to access the equity in your home without selling your house, most people think of a "home equity line of credit" first. But, if you’re over 55 and own your own home, there may be a better option: a reverse mortgage.
Which is better: a home equity line of credit or reverse mortgage? Let’s compare and see...
Read more: 50Plus.com.
December 12, 2011
RBC Report - Alberta economic outlook remains bright
Categories:Buying a Home In Calgary,Calgary Real Estate,Property Virgins,Relocating to Calgary,Selling a Home In Calgary
Alberta is once again positioned as one of Canada’s provincial growth leaders, according to the latest RBC Economics Provincial Outlook report released today.
The provincial economy is set to grow at a rate of 4.0 per cent this year and 3.9 per cent in 2012.
“Amid the heightened global economic uncertainty, Alberta’s steady progress towards full recovery from the recession is refreshing,” said Craig Wright, senior vice-president and chief economist, RBC, in a statement. “Were it not for the even stronger performance by Saskatchewan, Alberta would recapture the crown of Canada’s fastest growing provincial economy.”
RBC is forecasting economic growth for Canada of 2.3 per cent this year followed by 2.5 per cent in 2012.
Saskatchewan is expected to lead the country both years with growth rates of 4.5 per cent in 2011 and 4.2 per cent in 2012.
RBC said oil production in Alberta has fully recovered from the disruptions...
December 8, 2011
The Pros and Cons of Using an Increased Deposit
The deposit for a home in a real estate contract can also be referred to as "Earnest Money." Oftentimes, the Offer to Purchase has an initial deposit and then an additional deposit due at a future, predetermined time. However, there are cases where a deposit isn't even needed to make a real estate contract binding and enforcable. The "promise to pay" the purchase price and signing "under seal" can satisfy the requirement of contracts for consideration. (This may not be the same case in all jurisdictions).
Let's look at the deposit issue from both the Seller's and the Buyer's point of view...
The Seller's Perspective:
December 8, 2011
The Pros and Cons of Multiple Offers
The prospect of having multiple offers on your home is a ideal situation, right? With multiple people all trying to buy your home at the same time! There couldn't possibly be anything wrong with that!
Well there are definitely some pluses, but there are some significant risks to the prospect too.
And now some of The Cons:
December 6, 2011
Video: This Month in Real Estate - December 2011
Categories:Buying a Home In Calgary,Calgary Real Estate,CREB,Market Trends,Selling a Home In Calgary,Videos
Source: KWRI - used under standard YouTube license terms.
December 2, 2011
3 Reasons You Shouldn’t Cancel Your Listing Over the Holidays
Heading into the holidays can be a stressful time for most people, especially when you have a home to sell in the midst of all the celebrations. Many sellers take their homes off the market before the holidays to avoid the added stress, but this time of year can actually be a blessing for the home seller. There are some good reasons to keep marketing your home over the holidays.
December 1, 2011
Condo Rules and Regulations, HOAs, and Your Holiday Displays
Originally Published: December 10, 2010
Check your condo rules before you put up that menorah or Santa decoration, or you might find yourself taking your holiday decorations down a lot sooner than you planned.
I want to flout condo rules and put up holiday decorations despite an HOA rule banning them. What’s going to happen to me?
Talk to your neighbours. If it’s your first holiday in your new home, check with your neighbours to find out what's really allowed. Condos that ban lights and signage most of the year may ignore illegal decorations during the holiday season. "But do understand these rules and regulations are enforceable by boards of corporations that are created...
December 1, 2011
"Upgrades" to REALTOR.ca enhance, improve and simplify the user experience
It's so great when the national aggregator of the home listing data from the various MLS® Systems gets updated to include a few of the advanced features that we've had on our website since as far back as I can remember! When I reviewed the changes yesterday, I honestly didn't see these changes because they are expected on every agent's home listing website. Aren't they?
Too bad that REALTOR.ca directs you to call the Listing Agent, and their office, for viewings and more information. Shame on them - what bad advise for the vast majority of buyers! But then again, REALTOR.ca has always been nothing more than an advertising vehicle for the Listing Agents and not the properties they have listed for sale. It's not about selling homes, it's about selling agents!
Ottawa, ON – December 1, 2011 – Earlier this week, a new version of REALTOR.ca was released. This version introduces exciting new features and tools that allow users to customize REALTOR.ca...
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