Calgary Real Estate Blog

Home Buyer Realtor Parody

This is a very cute parody of some of the situations we REALTORS® find ourselves in.

Good Pictures are KEY to Selling Calgary Homes

Have you ever browsed through MLS listings and pass right by property where the property looks bad, the pictures are dark and terrible?  You and 99% of other buyers do the same thing.  Your property needs to be seen the best LIGHT it can.  This also includes the pictures being bright and well lit.  Here is a list of MUST DO items when getting your home prepared for pictures.

• De-clutter - this means no pet dishes on the floor (and NO Pets in the pictures!) many people will by-pass your home altogether if they see pets
• Remove personal pictures of family, children, etc.
• Remove appliances like blenders, coffee makers, etc., from the kitchen counters
• Remove fridge magnets, calendars and children’s artwork from the refrigerator as well
• Move out any large furniture pieces that are not mandatory for daily life into storage, big, bulky furniture makes property look small and cluttered.  If you have moved out of your property since it was listed, get your Realtor® to take NEW pictures of the property vacant.  Contrary to popular belief, most homes show better vacant because they appear more spacious.
• Remove all toiletries from bathroom counters, make sure all mirrors are spotless
• Use common sense when preparing for your homes photo-shoot!

Below are examples of Bad vs Good photos.

Marketing your Calgary Home for all its Worth… and then Some!

If you’re considering selling your home this fall in Calgary and are not sure what type of REALTOR® you want to invest time and energy with, click here to View Video.

This REALTOR® is Adam Joske in Australia.  He has taken YouTube and realized it as a marketing tool like no other.  Many REALTORS® in Canada have attempted to do this and usually come off a little lacking.

I am excited to offer this service to my Sellers this fall, as an added Marketing Bonus.  Lets face it, today most people search and find homes online and simply deliver those properties to their Real Estate Professionals to book the showing.  Marketing your home for all its worth, and THEN some is key.

A well produces and professionally narrated video of your property and the neighborhood amenities is a valuable, exciting tool that can be used to attract a lot more interest than simply plunking it on MLS.

Welcome to the future!  Kudo’s to Adam Joske for taking his Real Estate services to this exceptional level!

Real Estate Negotiations in Calgary

I deal with other REALTORS® on a daily or weekly basis when negotiating on behalf of my buyers, and my sellers.  I try to insert the logical into all of my clients Real Estate experiences, by trying to make it clear that all negotiations are a business transaction, not to be taken personally.

Lets face it.

Buyers want to pay the LEAST they can.

Seller want the MOST money out of the transaction they can get.

What happens during this process, is that feelings tend to get hurt.  Some sellers feel like they have been insulted when a potential buyer offers a reduced price on their property.

The “ART” of the negotiation occurs when two Real Estate Professionals can clearly guide their clients to a fair and amicable agreement at the end.  This can only occur when the clients listen to the advice of their Real Estate Professional.  Because we do this on a daily basis, we are very familiar with the processes and procedures of the entire transaction.

A good REALTOR® will guide you through the process and allow you to see the logical path.  Once the heated emotions get involved, many Real Estate Transactions will fall apart, when in reality, it was a perfectly good, solid, fair deal.  Don’t let this happen to you.  Make sure you work with a Real Estate Professional who is on YOUR side and willing to take the time to educate and guide you through the process.

The BEST way to get a good Real Estate Professional is by asking friends and family who they have worked with and had a fantastic experience with.

Single Mothers and Real Estate in Calgary

Are you a single mother in Calgary and have been considering buying your first home?  Renting is something we all have to do when we start out on our own.  Most of us simply do not have the maturity, know how and finances to purchase a home when we first leave home.

There are many women that find themselves in a situation where they are raising their children on their own, whether it is via divorce, or the break up of a long term relationship.  Considering purchasing a home can be a daunting idea.

With my extensive Mortgage experience and the ability to transition my buyers from pre-approve through the buying process, I can take the daunting out of the scenario.

Call or contact me today and I can have you pre-approved for a home in less than an hour.  Why keep renting and paying off someone else’s mortgage?  In some instances, you can still buy a home without a down payment.  Yes, it is TRUE.  Call me today to see if you will qualify.

Investing in Real Estate

Investing in Real Estate has taken a huge hit with the recession and economic down turn.  That being said, it is still an exceptionally viable way to make money in Canada.  There are many opportunities in various ways to take advantage of this type of economy.  Housing prices are low and opportunity is out there.

I have had the pleasure to have been able to assist many Real Estate Investors in Calgary and other areas of Alberta over the years.  My in depth knowledge of the Alberta Real Estate Market and Investing AND Financing Revenue Property enables me to offer a streamlined Real Estate Investing experience unlike any other.  I work closely with all the lenders and banks that are offering Rental Financing in Calgary.

If you have any questions or would like to book a meeting to discuss your Real Estate Investing goals, feel free to contact me directly!

Deciding Which Type of Home to Purchase

There is an endless supply of different types of homes available for purchase – ranging from condos to townhouses to fully-detached homes. The key is to decide what you can afford and which amenities you prefer before heading out shopping for a new home.

Your best first step is to seek the advice of a Dominion Lending Centres Mortgage Professional and get pre-approved on a mortgage. That way, you already know what your price range is – and, therefore, which type of home you’re in the market for – before you begin shopping.

Budgeting is also an important part of preparing yourself for the purchase of a home. If you save for a down payment and up-front costs, such as closing costs and emergency reserves, much sooner, you’ll be sure to save enough to cover the many expenses facing a new homeowner, including moving, utility hook-ups, tools, maintenance supplies, window coverings, etcetera.

Once you have the money available to make your home purchase a reality, you should weigh the following options to help decide what type of home is right for you:

Condo

A condo makes a great first home because it typically costs less than a townhouse or a detached home, which translates into a smaller down payment. But there are, however, monthly maintenance fees you must take into consideration when budgeting for a condo.

Condos are also ideal for those who do not want to maintain a lawn or worry about clearing snow away from walkways and driveways.

Townhouse

If the condo life is not your forte and you’re not looking for a big yard to maintain, a townhouse may be your best home purchase option.

A townhouse costs less than a fully-detached home and results in cheaper property taxes as well.

Many townhouses also come with monthly maintenance fees unless they are freehold townhouses. In situations where you pay a monthly fee, however, you won’t have to worry about outdoor maintenance or snow removal.

Detached Home

If it’s privacy you’re seeking as well as a larger yard, a detached home is your ideal choice. Still, prices can vary drastically based on such variables as whether you’re seeking a spot in the city, a place in the suburbs or a more rural location.

Other Considerations

The size of the home and property (if you decide not to opt for a condo) are also important things to consider before you head out shopping. While everyone has their dream home in mind, this is not always a practical purchase choice, especially if this is your first home purchase.

When it comes to location, think about in which area or neighbourhood you’d like to make your purchase, and which home features are absolutely essential – including what you can live without and what aspects are entirely out of the question.

Take a look at real estate ads for the area(s) you’re interested in to see what’s on the market and the price ranges. Also drive around a few neighbourhoods and see what’s for sale or visit Open Houses. This can help crystallize what you want or don’t want in a home.

By making your first purchase a modest and affordable ‘starter’ home, you will be putting money towards a mortgage that will build equity in that home. And once you’ve paid down a significant portion of that first home’s mortgage, you will then have more money to put towards an upgrade into your dream home.

10 Questions to Ask your Home Inspector

The purchase of a home is likely the largest financial expenditure you’ll ever make. And getting your home inspected is an essential step in the home-buying process. No one wants to buy a money pit – and once you have signed on the dotted line, there is no turning back.

The best way to ensure you use a professional home inspector is to seek referrals from your mortgage professional, real estate agent or friends. Since you want to be able to trust your home inspector’s judgement, you have to ensure they’re not part-time home inspectors just trying to make some extra cash on the side, or they aren’t only home inspecting so they can also offer to complete any work for you that you need done on the home. To ensure the job’s done right, after all, the home inspection must not be biased.

The purpose of a home inspection is for the inspector to be able to tell you everything you need to know about the home you’re going to purchase so that you can make an informed decision.
Following are 10 key questions you can ask your home inspector before they’re hired to ensure the inspection will be completed professionally and thoroughly:

1. Can I see your licence/professional credentials and proof of insurance?
2. How many years’ experience do you have as a home inspector? (Make sure they’re talking specifically about home inspection and not just how much experience they have in a single trade.)
3. How many inspections have you personally completed?
4. What qualifications and training do you have? Are you a member of a professional organization? What’s your background – construction, engineering, plumbing, etc?
5. Can I see some references? (Make sure you also check the references.)
6. What kind of report do you provide? Do you take pictures of the house and add them to your report?
7. What kind of tools do you use during your inspection?
8. Can you give me an idea of what kind of repairs the house may need? (Be wary if they offer to fix the issues themselves or can recommend someone else to complete the job cheap.)
9. When do you do the inspection? (Let’s hope they don’t have a day job, and can only do them at night when it’s too dark to see the roof. It’s best to stay away from part-time inspectors.)

10.  How long do your inspections usually take?

Self Employed and Need a Mortgage?

Well CMHC is not the only game in town.  Thank GOODNESS.

You can still buy a home with as little as 10% down even if you have been self employed for over 3 years with Genworth.  I do most of my business with Scotiabank, because I have a wonderful relationship with my underwriter whom I have been working with for over 5 years now.  There are few lenders that will go to bat for clients, and thank heaven I work with one of the few.

Here is a comparison side by side example of the difference in Self Employed Mortgage Programs between CMHC and Genworth.

May Brings Marked Decline in Home Sales

Average price rises as move-up buyers enter market

Calgary, June 1, 2010 – Calgary home sales showed a marked decline in the month of May, according to figures released today by the Calgary Real Estate Board (CREB^®).

The number of single family homes sold in May 2010 in the city of Calgary was down 20 per cent from the same time a year ago, and condominium sales saw a decrease of 21 per cent from the same time a year ago.

May 2010 saw 1,262 single family homes sold in the city of Calgary. This is a decrease of 7 per cent from 1,352 sales in April 2010. In May 2009, single family home sales totaled 1,584. The number of condominium sales for the month of May 2010 was 518. This was a decrease of 19 per cent from the 639 condominium transactions recorded in April 2010. In May 2009, condominium sales were 653.

“The first quarter of 2010 was exceptionally strong with our spring sales coming early in the wake of anticipated mortgage hikes,” says Diane Scott, president of CREB^®. “We believe there are a number of factors contributing to this marked slowdown including a declining number of first-time homebuyers in the market, a rise in monthly carrying costs as mortgage rates rise and to some extent market jitters in the wake of Greece’s financial crisis,” says Scott.

“Consumers are feeling a little nervous about the recent instability of the stock markets—and with mortgage rate hikes behind us, it’s understandable that feelings of urgency among buyers have lessened,” adds Scott.

The average price of a single family home in the city of Calgary in May 2010 was $483,240, showing an increase of 5 per cent from April 2010, when the average price was $460,378, and showing an increase of 11 per cent from May 2009, when the average price was $436,427. The average price of a condominium in the city of Calgary was $304,662, showing a 5 per cent increase from April 2010, when the average price was $289,588 and an 11 per cent increase over last year, when the average price was $275,212. Average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods, or account for price differentials between geographical areas.

“Our inventory is shifting to higher price points as move-up buyers enter the market.  This has resulted in an overall boost in average price,” says Scott.  “Nonetheless our days on market year-over-year has decreased—suggesting that competitively priced homes are selling.”

The median price of a single family home in the city of Calgary for May 2010 was $420,000, showing a 1 per cent increase from April 2010, when the median price was $417,000, and an 8 per cent increase from May 2009, when the median price was $390,000. The median price of a condominium in May 2010 was $279,900, showing a 5 per cent increase from April 2010, when the median was $267,500. That’s up 10 per cent from May 2009, when the median price was $255,000.

All city of Calgary MLS^® statistics include properties listed and sold only within Calgary’s city limits. The median price is the price that is midway between the least expensive and most expensive home sold in an area during a given period of time. During that time, half the buyers bought homes that cost more than the median price and half bought homes for less than the median price.

Single family listings in the city of Calgary added for the month of May totaled 2,966, a decrease of 4 per cent from April 2010 when 3,082 new listings were added, and showing an increase of 33 per cent from May 2009, when 2,235 new listings came to the market. Condominium new listings in the city of Calgary added for May 2010 were 1,221, down 9 per cent from April 2010, when the MLS^® saw 1,335 condo listings coming to the market. This is an increase of 22 per cent from May 2009, when new condominium listings added were 998.

“I believe this recent decline in sales is the result of an unsmooth transition from a first-time buyer market to a move-up buyer market.  And it is likely that investors who waited out 2009 are now listing second homes and condos—giving an added boost to our inventory,” says Scott.

“Nonetheless our economic fundamentals, including employment and net migration, seem to be building momentum and Canada’s overall outlook is positive.  These steady improvements should offer some stability to Calgary’s housing market as we enter the second half of 2010,” adds Scott.

CREB^® is a professional body of 5,495 licensed brokers and registered associates, representing 244 member offices and is dedicated to enhancing the value, integrity and expertise of its REALTOR^® members.

REALTORS^® are committed to a high standard of professional conduct, ongoing education, and a strict Code of Ethics and Standards of Business Practice. Using the services of a professional REALTOR^® can help consumers take full advantage of real estate opportunities while reducing their risks when buying or selling real estate. The board does not generate statistics or analysis of any individual member or company’s market share. All MLS^® active listings for Calgary and area may be found on the board’s website at www.creb.com.

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