Condo Fees? Waste of money? Or Useful?

Many people complain about condo fees, without fully understanding WHAT condo fees actually are, what they do, or how they are calculated.  Let's review a few of these before deciding if the fees are "bad".

What are Condos First, a condominium is a form of group ownership. When you buy an apartment (lets say 100 units, all same size), you are not only buying your individual condo, but a type of real estate that makes you a PARTIAL owners in the ENTIRE building.  In the 100 unit example, you become a 1% in EVERYTHING, for better and for worse.   In real life, we typically break down the fees by the size of the units, with larger units paying more.

What Rights / Privileges / Responsibilities Your ownership stake allows you to vote for the board of…

3264 Views, 0 Comments

Give Your Kids a Chance (and Fund Your Retirement)

Do you ever wonder how you’ll pay for your children’s education? Or your own retirement? The solution might be real estate. Consider:

FACT #1: “The Haves and the Have-Nots”
The gap between the rich and poor is growing rapidly. Top 20% average net worth family increased income by 80% over a dozen years; the rest averaged much less (38%).

FACT #2: Post Secondary Education is the Key
Earnings of full-time workers who have a college degree continue to accelerate faster than those with just a high school diploma. In 1979, the average college graduate earned 49% more a year on average than a worker with only a high school diploma. By 1994, the earnings gap had widened to 89%. Each year of formal schooling after high school adds 5% to 15% to annual earnings…

387 Views, 0 Comments

Under Contract? Conditionally Sold? Pending? Confused Yet? Your choices after you accept an offer.

Years ago, when you accepted the offer, we marked the property as Conditionally Sold on the MLS, and since 80-90% of buyers waive conditions, we removed the property from the ACTIVE market. However, this procedure was unfair to the seller, as it precluded a chance of a back-up offer. So, the rules were changed (and it got confusing).

You still have the choice of us putting it as Pending (the new Conditionally Sold) on the MLS; during this time, we’ll stop actively marketing the listing and the property will be removed from Realtor.ca (or other sites).

Another option is Under Contract which informs other agents about the status (Conditional Sale), but it will remain on Realtor.ca. Buyer agents have the opportunity to present the home as an OPTION to…

3146 Views, 0 Comments

Hot Water Tanks? On demand? Tankless? Explained.

During the purchase process, clients are exposed to a variety of new and unfamiliar products. One of the newest and HOTTEST (pun intended) is tankless water heaters, also called instant water heater. These units are usually much more expensive to install, claim to be more efficient, save space, and offer limitless hot water. Do these claims measure up? Is the extra cost worth it? What is the payback period? No limits on water? Let’s look at a few options.

The regular hot water tank has been a fixture that everyone is pretty much familiar with. We heat a certain amount of hot water (often 50 or 60 gallons) to a pre-set temperature and STORE it until use. The tanks are insulated to help prevent heat loss. As hot water is called upon for bathing,…

569 Views, 0 Comments

LUXURY & STYLE

THIS CALGARY HOME FEATURES A DREAMY ENSUITE YOU'LL WANT FOR YOURSELF

Frank Lloyd Wright-inspired design meets open-concept living in this prairie home.

The first step in making a house a home is curating a space that exudes serenity, balance and, of course, privacy. Your home is your retreat from the outside world: a place to recharge and connect with family and friends. Wouldn’t it be nice if the design of the house itself reflected these values?

Brookfield’s exciting development, Artesia at Heritage Pointe, does just that. A quiet estate-only community located only minutes away from the heart of the bustling Seton Urban District, Artesia features homes that have been designed with both style and livability in mind. From…

3 Views, 0 Comments

ARE YOU A CUSTOMER OR CLIENT?

How a customer differs from a client in the real estate market:

I’m in the market to purchase a townhome. I’ve been asked by real estate brokerages if I’m looking to sign with them as a client or as a customer. What’s the difference?

In our daily lives, we tend to use the terms “client” and “customer” interchangeably. But in real estate transactions, there’s a big difference between the services you will receive, depending on which kind of contract you sign. Considering your confidence level, knowledge of real estate and comfort in making decisions without counsel from an expert in the field, you may choose to contract with the brokerage as a customer. If you are new to buying and selling properties, or…

4 Views, 0 Comments

What to do BEFORE your home goes on the market

  Now that you have made the decision to move and put your house on the market, there are a few key things you need to do to get it ready.  First impressions are crucial - and in today's world of technology, that often means photos are viewed on-line even before an interested buyer walks through the front door.  What is seen (or not seen) can go a long way - you house will sell faster and for a higher price if it looks and feels good when potential buyers view your home.  You don't need to do everything but you do need to do the right things - to prioritize what will show your house in the best possible light. 

Get Rid of Clutter - this is important for a few reasons.  A cluttered home comes across as messy or uncared for.  Buyers may not realize that…

122 Views, 0 Comments

Changes to the mortgage stress test

Ottawa, ON, February 18, 2020 – Earlier today, Minister of Finance Bill Morneau announced changes to the mortgage stress test.

The new benchmark rate used to determine the minimum qualifying rate for insured mortgages, coming into effect on April 6, 2020, will be the weekly median 5-year fixed insured mortgage rate from mortgage insurance applications, plus 2 per cent.

Recently, the gap between the Bank of Canada’s five-year benchmark rate and borrowers’ actual contract rates has been widening, suggesting the benchmark rate has become less responsive to changes in the market.

In October 2016, Finance Canada introduced a stress test for insured mortgages. In 2017, the Office of the Superintendent of Financial Institutions (OSFI) issued…

2880 Views, 0 Comments

WHAT is International Woman's Day?

What is it?

International Women's Day (March 8) is a global day celebrating the social, economic, cultural and political achievements of women. We have some of the most dynamic and entrepreneurial women in our offices and we want to showcase our support for gender equality. Read More about the history and values of International women's day

What is the #EachForEqual pose?

Get a group together with arms out front at right angle to the body, elbows bent and palms down to make an equal sign to show that you are committing to being "each for equal" and that you will challenge the status quo and help forge women's equality. One or more of the group holds the Selfie Cards. Someone takes a picture. Post on social media using #IWD2020 #EachforEqual…

3382 Views, 0 Comments

Open House!

Open House Sunday March 8, 2-4PM

$899,900 132 Pinto Lane SE, Airdrie

For Full Listing, Click Here: http://tinyurl.com/pintolane132 

Call/text Yasin @ 403-681-0319 for more info or to book your showing

Gorgeous updated & upgraded bungalow w/heated 48X25, 4 car garage in Yankee Valley Estates, Airdrie; a few short mins to amenities! 2 acres w/hundreds of trees & shrubs added in recent years. Beautiful mountain views! Grand foyer w/double closets, site finished hardwood, grand rock fireplace, maple cabinets incl large wall pantry, SS appliances, new granite counters, back splash, hood fan, carpets & paint. Main floor den, laundry rm w/sink, speaker system throughout & lots of windows. Master is spacious & has a beautiful ensuite w/2 sinks,…

322 Views, 0 Comments