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.

 

 

In visiting a number of homes, recently, we have noticed video and/or audio capture devices that were actively monitoring the premises. What this means to us is there is an increase in the number of home sellers that are actively recording their real estate agents, prospective buyers and their buyer agents during the course of open houses or private showing appointments.

 

This is something we were concerned with several years ago with baby monitors being positioned in homes and turned on so that home sellers could "eavesdrop" on the buyer's viewing sppointment from nearby outside the home. That was something we always warned our clients about when we were showing homes to them and reminded them again when we noticed monitoring equipment (whether or not we could determine if the device was "on".)


Times have now changed: it is starting to appear quite often. In a few cases the common indicator light showing the device is acively monitoring had been covered up or possibly even disconnected....

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As a result of the Alberta Progressive Conservative loss in the provincial election of May 5, 2015, the Alberta budget that had been announced on March 26, 2015 is not expected to be passed by the legislature when the new governing party takes office.


As a result, the modest fee increases proposed by the Alberta Government are NOT being implemented as of July 1, 2015.


In the coming months we may expect to see Land Transfer Fees/Taxes in line with what is currently in effect in other provinces.

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Congratulations! You've made the decision to sell your home – now what will it cost to get the job done?

 

Like selling anything of value, there are some costs involved. With the sale of a home, these costs can be significant. In the Calgary area, the costs shouldn't amount to any more than about 5% of the sale price.

 

There are many costs that could be included in this calculation, but for convenience I'm not including the costs of painting your home, deep-cleaning the carpets, recalking the bathrooms, cleaning the windows, putting excess furniture and belongings into short-term storage, extra garbage pickups, any added insurance premiums, or any repairs necessary to bring the home up to "show home condition." These are amounts that are required for every home but can vary greatly.

 

The costs that I am going to include are hard transaction costs.

 

Usually the highest expense of the transaction is paying off the current mortgage loan. Sometimes the loan can be...

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Have you ever wondered what Condominum Special Assessments are? Or who is responsible for paying them?

 

Here is a link to great blog post by one of our team of experts that I rely on:

 

Click here to read more: Condominium - Special Assessments

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Tips for SELLERS:

Your most important decision when selling your home is the selection of the person you choose to represent you in this often difficult and complicated process.
 
The job of your real estate professional is to support you in selling your home with the best possible terms, advise you on your options and the aid you through the entire process.
 
Your real estate professional will explain the process of selling a home, and familiarize you with the various activities, documents and procedures that you will experience throughout the entire process. 

Tips for Selecting Your Real Estate Professional:

Your Real Estate Professional should be:
  • A member of the local real estate board and a REALTOR® - only REALTORS® have complete access to the MLS® Systems in Canada. Only a member of the LOCAL real estate board will get you exposure to local agents, and knowledge of many of the private sales,
  • Highly aware of the complicated local and provincial requirements...
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Lawyers charge for services differently, depending on the nature of your needs, the quality of services you seek and the complexity of your situation. Payment for a lawyer’s skill and knowledge varies from lawyer to lawyer, so it is important to understand exactly how you will be charged before engaging his or her services. Shop around and compare rates and types of fees, talking openly about your concerns and expectations. The client may negotiate the fee and discuss what services are covered directly by the lawyer and his agents.

 

There are generally four types of fee arrangements:

  • Fixed Fees
  • Contingency Fees 
  • Hourly Rates 
  • Percentage Fees / Value-Added Fees

Read more on the Alberta Law Society's website...

 

Real estate brokers could learn a lot from lawyers on charging fees. Not everyone wants to be charged the higher contingency fees. Likewise, not all real estate brokers are happy that only contingency fees seem to be accepted by the public that buys and...

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A casual and candid conversation about how the flood has affected real estate transactions in Calgary and surrounding area.

 

Lowell Martens, Broker/Owner of RE/MAX Real Estate (Mountain View), Camil Morley, Associate Broker/Manager of RE/MAX Real Estate (Mountain View), Lou Pesta, Q.C., Senior Associate, Walsh LLP, focused on the devastation and how it has impacted our city and the possible ramifications on pending sales that are closing in the near future.

 

What impact will this have on the buyers' and sellers' ability to close in these transactions?

 

What are the insurance claim processes that individuals and companies have to undertake whether it be a single family dwelling or condominium complex?

 

Source: YouTube - Used under standard YouTube license terms.
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Source: Used under standard YouTube license terms.
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Source: Used under standard YouTube license terms.
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Source: Used under standard YouTube license terms.
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Source: Used under standard YouTube license terms.
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Source: Used under standard YouTube license terms.
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Source: Used under standard YouTube license terms.
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Source: Used under standard YouTube license terms.
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Source: Used under standard YouTube license terms.
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Source: Used under standard YouTube license terms.
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Source: Used under standard YouTube license terms.
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Source: Used under standard YouTube license terms.
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Calgary Foreclosures - Are they Worth the Risk?

Last Monday, 30 of the top REALTORS® working the Calgary area attended the Advanced Foreclosure Course for Real Estate Industry Members at the Calgary Real Estate Board.
 
The course was led by Lubos Pesta and Gary Befus – both real estate lawyers with significant experience in foreclosures and the foreclosure process. They both made the statement that echos our view, "Foreclosures are not for first-time buyers."
 
Prior to the session beginning, I commented how many real estate agents in the city still confuse Bank-Owned sales with Foreclosures. The instructors made it clear to the group that Foreclosures are a legal process whereby the bank or other creditor petitions the court to offer a property for sale. The court is considered the Seller in a foreclosure action. When a foreclosure is complete oftentimes the bank becomes the new owner and in turn will begin the process of selling the property. This sale (by the bank)...
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Source: 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.