Buying Tips 
There are currently 11 blog entries related to this category.
Pitfalls of Buying a Foreclosure Property in Calgary!
Why is that you just don’t see the same deals among foreclosure properties as on TV?
Well, for starters it’s because it’s TV and because the foreclosure examples that you’re seeing as huge opportunities are usually based in the US.
The Real Estate Act in Alberta is 100% different than south of the border and the system is designed to prevent anyone of making a substantial profit at the cost of someone else.
Phase number one of the foreclosure process is called the “Preforeclosure” or the redemption period which could last around 6 months. During this time, the Court of Queen’s Bench provides the homeowner a chance to make up their arrears and bring their bills into balance. If they are able to this, they can keep their house.
If the homeowner is still in…
Secret Signs of Where Calgary's Real Estate Market is Heading!
Learn how to predict the market and avoid making another mistake that could cost you tens of thousands!
It looks like Calgary’s real estate market is heating up again! And it’s time to learn from the past.
By tracking this graph below, and looking at the spread between the amount of sales and the number of listings on the market we can draw a very predictable outcome for our real estate market.
(click on image to enlarge)
Because prices only increase if there is a shortage of inventory, therefore it makes sense to keep an eye on the inventory levels and sales activity going up.
In this graph, when the sales line is going up and the inventory levels are dropping, it means an improving market and there is a good chance of things moving towards a…
Important Changes for Buyers in Calgary
When an offer gets accepted by a seller, usually the buyer still need to get their financing approved and complete a home inspection. Until most recently, the sellers used to take their homes off the market, and change its status to “Pending” or conditionally sold.
As per the new rule change made by CREB, now a seller can instruct their Realtor not to remove the property from the market and keep its status as an “Active” listing. Seems to be fair to the sellers as they are not losing any marketing time incase the buyer fails to firm up the deal. But what about the rest of the buyers who are very committed to finding a new home?
Edmontonians have already adopted this system many years ago, and apparently it’s working great for them.
What do you think? Do…
Amazing Condo Just Listed in Millrise - 23 Millrise Dr. S.W.
$200,000
Wow! Don't miss out on this Trendy Condo! Brand new condition (newly constructed wing of complex - Aug 2011 built with additional safety features!) Open concept floor plan - spacious Kitchen with huge central island, stainless appliances & attractive cabinetry! Sunny Living Room with special Built-in Computer Station & large window which has an adjoining french door to Balcony - enjoy the courtyard views! Convenient BBQ gas line. Large Bedroom with double wardrobe closets and cheater door to main Bathroom. In-the-suite Laundry/Storage plus secure, heated, underground Parking (close to elevator) and an extra storage locker! You'll love the Amenities! Fitness Centre, Steam Room, Social Room(s)- great for entertaining your Friends & Family!…
How to Become a Real Estate Millionaire in Calgary...
So, you’ve got a twenty percent down payment burning a hole in your pocket, and you’re looking for a place to spend it. Your friend, Mike, tells you to get a single family house in Bridlewood, but your other pal, Steve, says you should invest in condos in Evergreen. Your dad swears that houses in the Calgary Beltline are the newest up-and-comers. So who do you believe? You’ve got a pocket full of cash, and head full of dreams about investing in Calgary Real Estate and finally achieving total financial freedom. But is it possible? Yes, it absolutely is!
One of my past real estate coaches, Don R. Campbell, (author of books such as Real Estate Investment in Canada) encourages people to do their homework. When you a buy a home in Calgary for the sole purpose of…
Not again… Real Estate Prices are Falling!
“Real Estate prices are dropping through the ground! We’re in the red,” proclaims the radio announcer on your drive into work:
“Take your spouse and child, buy extra water and food, and hideout in your basement until the meltdown passes,” he warns.
So you arrive at work and wring your hands over and over. You look at your computer and your clock, and you plan your trip to Costco to buy water and food so that you can survive the horrible Real Estate meltdown. “Is my little house in Bridlewood really worth next to nothing?” you think, as you imagine yourself and your family eating macaroni and cheese day-after-day in the kitchen of your lovely three-bedroom home in Bridlewood.
You finish work quickly and begin your drive home, ready to tell your wife that…
Should I Rent or Buy a House? …That is the question!
I think the answer is simpler than it appears. If you are renting, then your landlord is keeping everything that you are giving him. In the example where your mortgage payment is $1,100 per month, approximately $800 goes towards interest, and the other $300 is the principal that goes towards your equity.
As I was saying before, when you are paying your own mortgage, $300/mo. is actually going towards your own principal, and in 25-30 years you will more likely own the property outright.
Of course there are some risks involved with owning real estate: maintenance, and possible depreciation. But if you look at real estate values over the last 20 years, I think that on average it has increased in value by about 6% per year.
Now here is the hidden secret of…
Location, Location, Location, Home Style
The phrase, "location, location, location" has become a cliché in the real estate industry, but that is only because it is true. No one wants to live in Cracksville. However, many people who are looking for a home have the choice of many neighbourhoods where bars on the window are not in fashion and the question is, 'should I choose the neighbourhood I like or the home I like'?
A good neighbourhood is one thing, but a neighbourhood that's good for you is another. For parents, a 'good neighbourhood' may be one with parks, good schools and low traffic streets. For people who enjoy a lot of get-togethers with friends, a neighbourhood with plenty of nightlife, restaurants and other social opportunities may be a 'good neighbourhood'. For pet owners,…
What professionals do you need to buy a house?
Most likely, buying a piece of real estate is going to be one of your biggest investment in your life. You will certainly want to have a team of professionals working with you throughout the buying process. After all, you wouldn’t want to cut your own hair or hire the cheapest doctor when you really need the best… Let’s see who needs to be on the bus.
The Real Estate Agent
Your Realtor will play the most important role in helping you to find the right home. His job is to be the quarterback in the game. Some of the main parts of his responsibilities are:
• Discover what’s important to you. I.e.: price, location, size, upgrades, etc.
• Help you to find the right home.
• Draft up an offer that is favorable to you.
• Negotiate on your…
Do you believe in “love” at first sight?
You are ready to spend hundreds of thousands of dollars and make a commitment for 25-35 years of your life based on the advice you receive from your real estate agent… With any luck, you will make the right decision. We are very fortunate here in Calgary, Alberta to have a professional regulatory body (RECA) in place, but is that enough to trust virtually anyone with a real estate license? The truth is that there are several levels of quality, business style and most definitely competence.
You should be asking yourself the following questions: - does your real estate representative have your best interest at heart? But more importantly, are they even capable of properly representing you? There are some Realtors with the best intentions in the…
The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The Terms of Use Agreement shall not impose a financial obligation on the Registrant or create any representation agreement between the Registrant and the Participant.
All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Disclaimer: Information herein deemed reliable but not guaranteed by the CREB and EREB.
Last updated on: 2012-05-17 00:22:34
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It has been a truly wonderful experience working with you for the past year or so. You are a very patient man and you have often gone the extra mile just to make sure that we get the maximum satisfaction. You definitely do your homework and the results show in the good deals that we have made over the years for both our personal home and investment properties. You are more than just an agent, you are a good friend to Tony and I.
- Tony & Priscilla Akhigbe
