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Tagged : Calgary Real Estate

There are currently 32 blog entries matching this tag.

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Mortgage Terms Explained

Thursday, July 22nd, 2010 at 8:05pm. 125 Views, 0 Comments.

Closed, open, fixed, variable? Do these terms sound Greek to you? Don’t worry you are not alone.  There are a lot of options available to you when you are thinking about a mortgage and part of my job as a mortgage planner is educating clients on everything that their mortgage has to offer. Here is a list of basic mortgage terms to help you better understand your current mortgage or the mortgage you will be getting in the future.
 
1.    Term - The number of months or years you will pay a specified rate. Terms generally range from 6 months to 10 years.

2.    Amortization - The number of years it will take to pay back the loan based on a set of fixed payments. Each payment consists of both principal and interest.

3.    Open Mortgage – This type of mortgage can…

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How to use your RRSP and the Home Buyer’s Plan to get into your first home

Tuesday, June 29th, 2010 at 8:35pm. 206 Views, 0 Comments.

As a first time home-buyer, it can sometime be difficult to save for a down payment. But, if you have been putting money away in a RRSP, you can use those savings towards the downpayment on a home under the Home Buyer’s Plan.  You borrow the money tax free and pay yourself back later!

Although your RRSP is always accessible, you are taxed on the money you withdraw unless you draw it under specific circumstances, and being a first time home buyer is one of them! You can withdraw up to $25,000 from your RRSP to put toward the down payment of a home, and if your spouse qualifies as a first time home buyer, hey can also withdraw $25,000. Meaning between the two of you, you may be able to put as much as $50,000 down on the purchase.

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Retractable Awnings Protect and Extend Summer Fun.

Sunday, May 2nd, 2010 at 6:15pm. 265 Views, 0 Comments.

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Everyone wants to enjoy the beautiful weather that summer brings. But the warm sun and damaging rays sometimes force us to retreat inside, where we crank the costly air conditioning to stay cool.

Creating an outdoor room is a great way to expand your home's living space without the cost of an addition. Retractable Awnings expand homes by turning decks and patios into added living space, combining the comfort of the indoors with the enjoyment of the outdoors.

In the hot summer days, an awning provides a simple solution that shields out these harmful rays while keeping you cool. It also helps homeowners conserve energy and therefore save money because awnings block the sun from entering the home through windows. Not only do your cooling costs go…

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Calgary Real Estate: Renting vs. Buying, Which option is better for you?

Sunday, May 2nd, 2010 at 6:14pm. 290 Views, 0 Comments.

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Buying a house can be the most rewarding purchase you ever make. However depending on your current circumstance this may not be your best option.  To help make an educated decision, try to answer the following questions first:

1. Do you really want to own your home?
Some would argue that this is the first question you should ask yourself. Home ownership, like everything else, is a matter of choice. Only you can decide whether or not home ownership is important to you. If it is then you may want to re-assess how you spend your money every month.

2.  How often do you expect to move in the future?
If you expect to be moving a lot (every couple of years or more) then you probably shouldn't buy your own home. Every time you buy or sell a home you incur…

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Today's most desirable home features

Sunday, May 2nd, 2010 at 6:11pm. 235 Views, 0 Comments.

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Housing trends and styles are changing constantly. Today, more than ever, buyers have a strong sense of what they want in a home.
 
Today’s desirable home features depend greatly of the type of buyer.  Buyers can be divided into two main groups. The first group are first-time buyers which is pretty self-explanatory. The second group are the move up buyers, which are looking to move into a home that addresses the shortcomings of their existing home. They aren't necessarily second-time buyers but they are often people that have out grown their current home. Buyer age is also a main factor in deciding the desired home features.

This article will focus on what is hot in the housing market today. Whether you are planning on renovating, selling, or you…

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Spring Home Maintenance Checklist

Sunday, May 2nd, 2010 at 6:10pm. 88 Views, 0 Comments.

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Keeping your home in top shape requires year-round care. While each season brings different tasks and challenges for homeowners, spring is an especially important time – it’s when to assess winter wear and prepare for summer.

Many big home repairs start out small but, left unattended, become more costly problems. By taking care of little issues now, you can save yourself a lot of money and stress in the long run. Keeping a list of what needs to be done, and when, can help you to avoid and prevent the most common household problems.

Many of the necessary tasks are probably easy enough for you to take care of yourself. However, if you don’t feel comfortable or don’t have the proper equipment, consider hiring a…

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Bank of Canada upgrades forecasts; opens door to June rate hike by removing conditional commitment

Tuesday, April 20th, 2010 at 10:00am. 132 Views, 0 Comments.

 

Here is an update I just received from my RBC Mortgage professional and I thought I would share it with you guys.

"The Bank of Canada left the overnight rate at 0.25% this morning and opened the door to rate increase at the June meeting by removing its conditional commitment to keep the policy rate at its current level, "until the end of the second quarter of 2010." The Bank stated that with, "recent improvements in the economic outlook, the need for such extraordinary policy is now passing, and it is appropriate to begin to lessen the degree of monetary stimulus. The extent and timing will depend on the outlook for economic activity and inflation, and will be consistent with achieving the 2% inflation target." The change in the Bank's statement…

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Market Watch – April 2010 Residential Resale Market Maintains Momentum

Wednesday, April 14th, 2010 at 8:56am. 209 Views, 0 Comments.

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The spring market kicked off early and strong this year, possibly boosted by the unseasonably warm weather and absence of snow in March. Inventory is still lower than at this time in 2009, but has begun to increase slightly in recent months.

“The strong rebound in the existing home market was one of the initial drivers of economic recovery,” said Toronto Real Estate Board President Tom Lebour. “While we don’t expect to see the same rates growth moving forward, GTA households will remain confident in ownership housing as a quality long-term investment, especially as economic recovery expands across all industries.”

Most major banks raised their fixed mortgage rates in late March and the Bank of Canada has warned that interest rates will rise again after…

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Tuscany Real Estate Upate: Snapshot of the Tuscany Real Estate Market for March, 2010

Tuesday, April 13th, 2010 at 4:44pm. 98 Views, 0 Comments.

 Spring is here and let me tell you time flies. We are truly seeing a lot of positive momentum in the Calgary Real Estate market and the NW Calgary community of Tuscany continues to be one of the more active communities in Calgary when it comes to MLS Sales.

As of April 13, 2010, there are 91 Active Single Family Homes for sale in Tuscany plus another 17 Single Family Houses that are C/S.

  • Average Tuscany home for sale was a 3 bedroom, 2 bathroom, 1,784 square foot house
  • Average List price for Tuscany Homes: $519,473 or $290.48/Sqft
  • Average Size of a Tuscany Single Family Home Sold: 1,826 square feet (March)
  • The Number of Tuscany Homes Sold in March, 2010: 53
  • The average sold price for a Tuscany Home: $515,734
  • The median Sale price of Tuscany…

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How Will the New Mortgage Rules Affect the Canadian Market?

Sunday, March 7th, 2010 at 9:56pm. 287 Views, 0 Comments.

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Finance Minister Jim Flaherty recently unveiled new mortgage rules aimed at stopping housing speculators and ensuring homebuyers can adequately handle their debts when interest rates inevitably rise. Mr. Flaherty stressed that Canada's real estate market is healthy, and that the new rules, which take effect April 19th, would stop “negative trends” from development.

"There's no clear evidence of a housing bubble, but we're taking proactive, prudent and cautious steps today to help prevent one. Our government is acting to help prevent Canadian households from getting overextended, and acting to help prevent some lenders from facilitating it," commented Minister Flaherty.

"The underlying message is that Canadians should be prudent in the obligations they…

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