Edmonton Homes 
There are currently 10 blog entries related to this category.
Envision Edmonton Reaches Petition Goals, Still Gathering Signatures For Insurance
Wednesday, August 25th, 2010 at 11:28am. 16 Views, 0 Comments.
Envision Edmonton is not giving up on its bid to keep the Edmonton City Centre Airport open. This is in spite of the fact that one runway was already closed this past month and that council has already voted in favor of the closure.
The group with the terrier like focus already has enough signatures, over 78,000, to take the matter to City Hall. That trip is planned for this Thursday. Until then, volunteers are staking out shopping malls, Tim Horton’s and anywhere else they can find willing signers. Envision wants enough signatures in case some are deemed invalid. They are targeting at least 85,000.
Once the signatures are presented and verified, the airport issue will be forced to go to a plebiscite. The city has 30 days to validate the petition.…
The Mortgage Gods Are Loosening Their Grip
Tuesday, August 24th, 2010 at 7:22pm. 34 Views, 0 Comments.
The Bank of Canada reduced their 5 year benchmark rate from 5.79% to 5.49% this week. Expect to see this come down further to 5.39% next week, as the charter banks have already reduced their in-house qualifying rate.
How this affects you: lenders use this rate to qualify borrowers on variable-rate mortgages, lines of credit and shorter-than-5-year-terms. Reducing this rate helps people qualify for more lending options. NOTE: this rate is what is most often used for 100% financing as well, so your potential buyers who don't have a downpayment might just be able to get into the housing market with this option. If you haven't been in the industry very long, this rate is very much the same as where 5 year "best" rates were in 2007, so from that perspective,…
Tips On Finding A Good Tenant
Tuesday, August 17th, 2010 at 2:51pm. 31 Views, 0 Comments.
Finding a good tenants is a process, it usually does not happen on the very first phone call or email you receive. Interview tenants, find out what are they looking for in a rental property. Find out why they are moving. Find out their immediate and future accommodation plans
There is no need to show every applicant who calls or email the rental unit. Use an interview process to determine if showing your rental property is worthwhile. Treat it like a job interview, not everybody who applies gets a face to face interview.
During the interview ask for the applicants address. Do a drive by see how they maintain their current property. Make a surprise visit if possible, let them know it is part of the application process.
When showing the property try…
Edmonton MLS® Foreclosures
Thursday, April 22nd, 2010 at 8:24am. 193 Views, 0 Comments.
The most common way of purchasing foreclosure properties in Edmonton is through a REALTOR®. Although you will face more competition using this approach, as long as you have a REALTOR® who knows what they are doing and can provide you with some tips, you can make a pretty penny.
Properties on the MLS® are usually listed at fair market value. This is one of the biggest differences when comparing foreclosures in Edmonton and the United States. The ones listed below market value do not stay listed for long. Your REALTOR® is the key to your success here; make sure that you are setup on some sort of automatic update to receive the lasted foreclosure list.
More often than not, there is not enough time for you to do enough research before you write an…
In Harsh Economic Times People Still Have to Eat
Tuesday, April 20th, 2010 at 3:20pm. 76 Views, 0 Comments.
Businesses that open their doors during a recession may be thought of as pushing their luck. In reality, those entrepreneurs who jump in when times are tough tend to do much better than their counterparts who start their companies in times of plenty, if they find the right market.
An example of this is George Weston, who started one of the biggest food retailing companies ever founded in Canada. Even in a recession, or a depression people have to eat. Weston started his company during the Great Depression of the 1930s.
Even with the proven track record of certain business models in slow times, banks are more cautious about lending funds and investing in new ideas. They caution those venturing into business to work at controlling their costs and to…
What is a SIMO?
Tuesday, March 23rd, 2010 at 10:26am. 127 Views, 0 Comments.
A “Simultaneous Close” or SIMO is when you “buy” a property on paper, and sell it to a buyer on the same day.
Here is a step by step on how to set it up.
1. Find a property, and get it under contract. Some important things to include in the terms are the following:
- Make sure you leave yourself some time to find a buyer, make your conditions period at least 2 weeks long, with a closing of at least 4 weeks.
- Under terms, explain that you need access to the property within 24 hours notice for showing to other investors, inspection, etc.
- Give a small deposit, and make sure that you write in that your deposit is refundable.
- Indicate that you have the option to market the property.
2. Once you have the property under contract, have your REALTOR® and…
The Kobe Bryant Of Real Estate....
Friday, March 12th, 2010 at 8:58am. 115 Views, 0 Comments.
Many of you know that when it comes to having a passion in life, one of mine is Kobe Bryant & the Los Angels Lakers. Kobe Bryant is one of the best basketball players ever, and when his career is finished he will be the G.O.A.T (Greatest Of All Time). When it comes to Real Estate I strive to be no different then him. Here are some of the reasons why we are similar besides the Maseratis Quattroporte GT S:
Kobe: In the last 5 minutes of the game, if the Lakers are losing Kobe will take over and make sure the Lakers win that game.
Me: If the Real Estate deal looks like it's falling apart don't worry, when it comes to negotiating your offer I almost never fail.
Kobe: Mr. Bryant's shooting accuracy is amazing. When Kobe has the ball in his hands, their…
What the F*** is the Edmonton Real Estate Market doing???
Monday, March 1st, 2010 at 11:04am. 183 Views, 2 Comments.
Everyday I’m asked the same question “Is the market going to go up or down?” And everyday I respond with, “It’s hard to tell, if I knew for sure I won’t be here, I would be living on my private island in the South Pacific living like a king.”
But with that being said let me attempt to breakdown where the market is going.
Right now in Edmonton we seem to be sitting at a balanced market. The homes that sat throughout the winter seem to be moving a lit bit more. Traditionally winter is suppose to be the slow time for Real Estate, so as the snow starts to melt the buyers tend to come out and the winter sellers tend to drop their prices.
With the new mortgage rule creeping up we have also noticed the amount of pre-approved buyers has also risen.The average…
Waiting To Get A Mortgage? Time Is Running Out
Friday, February 19th, 2010 at 8:32pm. 136 Views, 2 Comments.
Finance Minister Jim Flaherty and the Federal government have decided to implement new mortgage standards when applying for a mortgage. Mr.Flaherty says that these new rules are necessary in order for Canada to avoid a housing bubble, and Canadians to better manage their debt when interest rates rise.
These new rules will take effect on April 19, 2010. In some cases these rules will make it harder for first time home buyers, investors looking to obtain rental properties and people who want to refinance their existing property.
The new rules are as follows:
- Borrowers will need to qualify using a 5-year fixed rate regardless of what term and interest rate they choose. If you want a 1.95% variable rate, for example, you will need to show that you can…
Real Estate Prices Hit All Time High
Wednesday, December 16th, 2009 at 1:09pm. 108 Views, 0 Comments.
What do you get when you have a economic meltdown meet a real estate boom? The result is an increase in the prices of new homes in the immediate Edmonton area. This is a good sign as well as a bad sign. The reason for this is because there are more homes for sale at slightly higher prices. The bad news is that people will not be able to afford these homes and as a result are not buying.
This is not the first time that this trend has occurred and will not be the last time it occurs. The housing market has a habit of turning itself around and as a result many times leads to there being a resurgence in the number of new homes being bought. Judging by the latest numbers to be released it is a safe bet that many of these trends are beginning to show…
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