7 Ways To Improve Efficiency in The Workplace

As we start to get into the colder and darker winter months most Canadian companies will find it increasingly more difficult to keep your team motivated and efficient. Here are some tips that managers and employers can do every day to keep their employees motivated.

1. Establish step by step milestones. When working towards a goal, having small steps to accomplish before reaching the goal is critical. such as, if you wish your sales team to create 30 contacts over their workday, show them that they just have to make five contacts each hour. This makes the goal more sizable and easier to grab and hold.

2. In instances where there is lots of time being wasted doing things that must not be done, such as browsing the Internet, take away the risks. such as, you have a presentation to finish but you keep discovering yourself browsing online. Instead of doing that, get down to the park to work. There is no Internet and you can get the project done.

3. Tackle the hardest tasks first. That way, there is no worry about procrastinating with them and instead, they are done and taken care of leaving more time for the necessary tasks.

4. There will be days when there just isn't enough time. What must be done? increase efficiency by focusing on the most necessary things. Keep in mind the Pareto principle that 80 percent of the value of any event will come from the 20 percent effort that's put towards it. Concentrate on that 20 percent.

5. Stay organised and get rid of clutter. Cluttered spaces often means cluttered minds. It will hold you back from achieving your unsurpassable purpose.

6. Offer rewards to those who accomplish the purpose. These do not have to be big things but they must be something that they wish. such as, if a team is working on a big project, offer to take them to lunch if it's completed prior.

7. Use resources. If the team has the necessary resources on hand to finish the task, they are more likely to be able to do just that. Encourage them to do this to increase their efficiency.

These are several tips that you can incorporate into the day to day tasks to accomplish your purpose. Ultimately, by increasing the ability to perform the task at the best level will enhance the ability of the workers to do well in the long term as well as the short term. That means benefits for everyone.

Good luck.

Calgary Buyers’ Remain Cautious

Calgary Buyers’ Remain Cautious

Sales of million dollar plus homes a bright spot in 2010 market

Calgary, November 1, 2010 – Home sales in the city of Calgary were down month-over-month in October 2010, showing signs that buyers still remain cautious, despite signs of economic recovery. Year-over-year sales continued to trend lower in the month of October, according to figures released today by the Calgary Real Estate Board (CREB®).

The number of single family home sales in the month of October 2010 shrank by 7 per cent at 888, compared with September 2010, when sales were 958. The number of condominium sales for the month of October 2010 was 310. This was a decrease of 15 per cent from the 366 condominium transactions recorded in September 2010.

Year-over-year, the number of single family homes sold in October 2010 in the city of Calgary were down 31 per cent. In October 2009, single family home sales totalled 1,285. Condominium sales saw a decrease of 48 per cent from the same time a year ago. In October 2009, condominium sales were 601.

“Buyers remain cautious, perhaps waiting to feel a little more confidence in Calgary’s economic growth and their own job security,” says Diane Scott, president of CREB®.

“We believe economic recovery will build momentum into 2011 as the outlook for oil and gas and other sectors continues to improve. This, coupled with low interest rates and improved affordability, should eventually help to stimulate Calgary’s housing market,” adds Scott.

The average price of a single family home in the city of Calgary in October 2010 was $444,744, showing a 3 per cent decrease from September 2010, when the average price was $460,278, and a 4 per cent decrease from October 2009, when the average price was $462,465. The average price of a condominium in the city of Calgary in October 2010 was $287,793, showing a 1 per cent increase from September 2010, when the average price was $284,028 and no significant change over last year, when the average price was $289,155. 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.

The median price of a single family home in the city of Calgary for October 2010 was $387,900, showing a 1 per cent decrease from September 2010 when the median price was $390,000. This was a 5 per cent decrease from October 2009, when the median price was $410,000. The median price of a condominium in October 2010 was $255,000, showing a 4 per cent decrease from September 2010, when the median price was $265,000, and a 3 per cent decrease from October 2009, when it was $263,500.

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.

“Our average price is being buoyed by more sales in the million dollars plus category. Despite a slowdown in certain market segments, homes sold in the city of Calgary at a million dollars or more have actually seen an increase of more than 15 per cent when compared to the same time one year ago. This boost in sales is, indeed, a bright spot in our current market,” says Scott.

Single family listings in the city of Calgary added for the month of October 2010 totalled 1,765, a decrease of 22 per cent from September 2010 when 2,252 new listings were added, and showing a decrease of 3 per cent from October 2009, when 1,819 new listings came to the market.

Condominium new listings in the city of Calgary added for October 2010 were 721, down 22 per cent from September 2010, when the MLS® saw 921 condo listings coming to the market. This is a decrease of 16 per cent from October 2009, when new condominium listings added were 859.

“We are seeing some decline in the number of new listings coming on to the market. A continuing decline in supply will help bring the market into balance,” says Scott.

“We believe we will see a tempering of our inventory levels, as some sellers offer marginal reductions in prices, or others choose to pull their home off the market for a period of time,” notes Scott. “Homeowners should consider speaking with their REALTOR® about their current marketing strategy—there are always options in every market.”

“Overall, we’re cautiously optimistic that Calgary’s economic recovery will pick up as we move into 2011—but in-migration will be needed to fuel a sustained recovery in Calgary’s housing market,” says Scott.

courtesy of CREB.

Condominium Special Assessments

Condominium special assessments have recently become so commonplace they tend to be a factor in the majority of residential condominium resale transactions. I suspect this is the case for a number of reasons including:

• Aging condominiums built in the 1970s and 1980s may now require
major maintenance that was either not anticipated or not fully
funded.
• Apartment buildings converted to condominiums during the hot
market of 2005 and 2006 may never have been fully refurbished
and problems are now surfacing (i.e. elevators, roofs, mechanical
equipment).
• The rush to complete some condominium buildings during the hot market led to shoddy workmanship and expensive repairs are now required to fix the problems.
• Due to their prevalence, special assessments no longer have the stigma once associated with them and it is easier for condominium boards to pass and implement them.

Whatever the reason, the passing of a special assessment by a condominium board while a contract is “executory” can become a very unpleasant surprise for whoever is burdened with it – the buyer or the seller (Note: Executory refers to the time period after conditions are removed but prior to the closing date). The existing Residential Real Estate Purchase Contract does not specifically address special assessments except that the seller’s lawyer is required to obtain and provide the buyer with an Estoppel Certificate, which confirms that all condominium contributions that are the seller’s responsibility to the closing date are paid. Based in part on the foregoing, the practice that has evolved among conveyancing lawyers is to require the seller to pay any special assessments "due and payable" by the closing date. The buyer assumes responsibility for any special assessments payable post closing, no matter when assessed.
This practice has been expressly incorporated in clause 4.7 of the new Residential Purchase Contract for Resale Condominium Property, which should be available for use by industry members in the very near future. However potential problems may still arise.

While this practice is balanced, it can still result in circumstances of hardship for either party.
Here is a recent example of a seller with low equity caught up in the following situation. Two days before the closing date, the condominium board passed a resolution implementing a substantial special assessment payable in two instalments over the next several months. However, the resolution contained an “acceleration” clause, making the entire amount due and payable immediately in the event of the sale of any unit. The management company refused to issue a clear Estoppel Certificate without the payment of the special assessment, which substantially depleted the remainder of the seller’s equity.

On the other hand, a buyer who has done all due diligence and reviewed all available documentation could be hit with a significant special assessment shortly after closing if, for example, the elevator unexpectedly breaks down and has to be replaced. If the buyer doesn’t have the financial resources to pay the special assessment it can result in substantial penalties, late interest, and ultimately foreclosure of the unit.

As a result, where the relative bargaining position of the parties permits, the new clause contemplates the possibility that the parties could “otherwise agree in writing” to further shift the burden of any known or unexpected special assessments to one or the other of them.
The following are suggested clauses that can be used to help improve the position of either the buyer or the seller of a condominium. The appropriate clause would be inserted in 7.6 of the Purchase Contract (Additional terms of sale).

Clause for the benefit of the Buyer

7.6 "The Seller is responsible to pay all special assessments levied by the condominium board up to and including the Completion Day, no matter when actually due and payable."
This wording would obligate the seller to pay all special assessments approved by the condominium board even if not due and payable by closing. Any special assessments levied after closing would, of course, still remain the obligation of the buyer.

Clause for the benefit of the Seller

7.6 “The Buyer is responsible to pay all special assessments levied by the condominium board after final acceptance, no matter when actually due and payable.”

This wording would protect the seller from having to pay for any special assessments levied after the purchase price is negotiated and a contract entered into. The seller would remain responsible to pay for any pre-existing special assessments due and payable by the closing date.

Notwithstanding the fine print of the contract, it is always possible for the parties to negotiate and re-designate responsibility for any known special assessments as follows:

7.6 “The (Buyer or Seller) is solely responsible to pay the special assessment in the sum of $.......................due on ……………………

If not disclosed by the seller, information concerning an existing (or imminent) special assessment will typically surface during the condominium document review conducted on behalf of a buyer. Invariably the buyer will then try to negotiate either a price abatement or an amendment to the contract obligating the seller to pay for the special assessment. As a result, if the seller and the listing agent know about an existing or pending special assessment, the best policy is likely to disclose it to a potential buyer from the start and attempt to incorporate it into the initial contract negotiation.

Conclusion
Regardless of whether you are buying or selling a resale condominium, awarness of the potential of special assessments being passed and the proper handling of known special assessments in the contract will avoid hurt feelings and complications on closing. Needless to say, from a buyer’s perspective a thorough and professional condominium document review is the best line of defense against unpleasant and unexpected special assessment surprises post closing.

courtesy of Lubos K. Pesta, Q.C.

Calgary Economic Outlook

Provided below are economic outlooks provided by both Calgary Economic Development and the City of Calgary. I encourage everyone to follow the link and read the full report. I have highlighted specific parts that pertain to this blog.

Calgary Economic Development

Highlights

"Calgary will experience a Charlie Brown economy in 2010; an economy that
experiences variable performance with ups and downs, similar to the pattern on his shirt. This is a result of Calgary’s economy being dependent upon the state of the U.S. economy and energy markets."

"Calgary, despite best efforts, is still essentially an oil and gas economy, reliant upon the state of energy markets. So, ultimately, as energy prices rise and fall, so does the economic activity in Calgary. We try hard to find new economic activities to strengthen, such as technology or creative industries. We work to put strategic infrastructure in place to make Calgary a more attractive place to work and live, such as airport enhancements and public transit. We are the volunteer capital of Canada. However, we can’t escape a global recession. When oil and gas prices fall and capital dries up, the economy is affected as companies cut spending and jobs. All across the value chain the impacts are felt. Cuts to oil sands capital expenditure result in the loss of work and jobs for engineers, lawyers, accountants, financiers, manufacturers, and transporters. When wages are lost or cut, housing markets are affected and retail spending is curtailed."

"There is great risk in believing that this economic recession is done and gone, for that may create complacency. We risk going back to our former ways. Some people have been more greatly impacted than others - mostly those that have lost jobs - but, in Calgary, for 93 per cent of the labour force, very little has changed in the grand scheme of things. Humans learn from mistakes by adapting behaviour. If we assume all is well there is a risk that we will not have learned our lesson well enough. It is interesting to reflect that we will never claim that we are in recession until there is irrefutable proof of at least two consistent quarters of negative performance. Yet, before we are actually even out of recession we proclaim we are out of recession. Human nature. Cautious on the negative; optimistic on the positive. Again, this approach sets us up for greater challenges ahead, if we don’t truly reflect on the impacts, and adapt behaviour accordingly. More meaningful and sustained recovery is ingrained in a greater and more robust scorecard than currently being watched by the majority of the developed world. We celebrate with one day’s worth of positive data, only to sink the following day on negative performance of some other data."

"Recovery is going to happen. When exactly, no one knows. Balance sheet recessions, like the one we are in, have proven historically to be longer and slower to recover. It might take another 6, 12 or 18 months before we can truly say that the worst might be behind us. And when it does, it likely will be a slow, steady recovery that will look incredibly modest. In the long-term however, more modest growth rates might become the new norm, and ultimately be what we need to keep us honest."



City of Calgary

Highlights

"The Calgary market is struggling with opposing forces. Investors and builders wish to see continued and sustained price increases. First-time buyers in 2010 are facing increased prices that are testing their ability to pay while new federal legislation has more stringent mortgage qualifying requirements. The downturn in energy prices has also put a pause on the residential market while anticipated interest rate hikes are resulting in a short term increase in demand as buyers seek to get in while they still can."

"After dropping 14 per cent from peak prices in July 2007, average prices in Calgary rose throughout 2009 by 5.4 per cent, which is almost double the average price appreciation experienced in the 1990’s. Th e wildcard for the future is interest rates. If they go up too high too quickly they will dampen sales activity, but our expectations are for the prime interest rate to be stepped up in small increments, with a muted impact on posted mortgage rates over the next year. The outlook for housing prices in Calgary is a short run-up in anticipation of increased interest rates, then a market pause after June and a normal annual cyclical pattern returning to the market with September being the hot month of the year for sales. Continued weakness in job creation may pose a downside risk to the forecast."

Where to buy: Top 10 cities

Real Estate Investment Network (REIN) has compiled what it says are the top 10 Canadian cities in which to invest. The full article is here at canada.com. Please take the time to follow the link as the article explains in detail each cities merits.

1) Calgary, AB.
2) Kitchener-Waterloo-Cambridge, Ont.
3) Edmonton, AB.
4) Surrey, B.C.
5) Maple Ridge & Pitt Meadows, B.C.
6) Hamilton, Ont.
7) St.Albert, AB.
8) Barrie & Orillia, Ont.
9) Red Deer, AB.
10)Winnipeg, MB.

Home Staging Checklist

Home Staging Checklist - Making Your Home Look Its Best

Basement, Attic, Garage

• Clean out attic, basement and garage and dispose of everything that you are not going to move.
• Package everything that you won’t need until you’re settled in your new home. Make sure there is ample lighting in the basement stairway.
• If the basement is dark and gloomy, paint ceilings and walls a light colour. If undeveloped, paint the floor.
• Repair cracks in basement floors and walls with a ready mixed grout (concrete).
• Wiping clean the furnace and hot water tank will make them appear newer and well maintained.
• Wash down the garage floor and clean any oil stains with a chemical absorbent.
• Stack stored items neatly against walls to make the rooms appear larger.

Kitchen

• The kitchen is the most important room in the house. Make it bright and attractive. If dull, paint or re-stain cabinets, put up attractive new curtains or blinds.
• Clean the ventilating hood in the kitchen. Thoroughly clean to remove any odors especially around trash containers and areas where food is stored.
• If the kitchen floor is badly worn, consider new flooring. Light colours and simple patterns are best.
• Remove small appliances from your counters (toaster, coffee maker, etc.). Clean counters make a room look larger.

Bathrooms

• Repair dripping faucets and unclog any plugged drains.
• Hang fresh towels and use a deodorizer in the bathroom area.
• Use special cleaning products to remove stains from toilets, tubs & sinks; keep sinks and mirrors shining.
• Replace old caulking around bathtubs and clean tiles so they sparkle (purchasers always check the shower).

Living Areas

• Have all plaster in top shape. Cracks, nail-pops or visible seams are easy to repair.
• Check ceilings for leak stains. Fix the cause of the damage, repair ceiling and re-paint.
• In painting and re-decorating always stick to conventional white and easy-to-work-with neutral colours.
• If you have a fireplace, clean it our and lay some fresh logs in it to make it look inviting.
• Wash windows both inside and out. Replace any broken or cracked glass.
• Replace all burned out light bulbs. Use brighter bulbs in all general lighting areas.
• Make the floors shine and have carpets professionally cleaned – repair any creaks (drive two long finishing nails at opposing angles through the floor and sub-floor into the joist).
• Straighten up closets – get rid of excess – store out of season clothes so closets look larger.
• If doors stick slightly, rub a block of paraffin against the surface that shows signs of wear.
• If sliding doors stick, rub the tracks with paraffin or candle wax. Lubricate any squeaky hinges.

Outside

• Invest in landscaping where it can be seen first. A well manicured lawn, neatly clipped shrubbery and cleanly swept walks all create a good first impression.
• Cut back over-grown shrubbery that looks scraggly or keeps light out of the house.
• Paint your house if necessary. This can do more for sales appeal than any other factor
• In winter, walks must be free of snow and ice (liability may also be a concern).
• Inspect the roof and gutters. Any missing shingles to replace? Are gutters clean and downspouts attached?
• Consider putting flowers outside the front door if it’s not in perfect condition (very important for first impressions).
• Repair any broken outside steps.
• Keep lawn closely cut and edged. Clean the yard; store toys, bicycles and tools away.

courtesy of CREB

3 things you must do prior to making an offer

So you've found your dream home and you're ready to write an offer. Hopefully you're already familiar with things like agency representation, the purchase contract, mortgage pre-approvals, inspections, conditions, deposits, down payment etc etc etc. These are all topics you should be intimately familiar with before you step foot in a home for sale. So, assuming none of that is a surprise, here are three things you should see before making an offer on a home:

The Title

The title has loads of information, such as: the names of the owners, any liens, caveats or encumbrances, restrictive covenants, the date the title transferred to the current owners, how much they paid for the property, and any mortgages registered on the property. It costs you $5 using Spin to pull title, and another $5 per registered document. Small price to pay considering that you could find out after moving in that your dream home is in a flight path.

The MLS® history

This shows you if and when the property has been listed on the MLS system, for how long and for how much (including price changes). That information can be priceless as it will give you an indication of the Sellers motivation. Ex. MLS history can show you that the sellers have been trying to sell their home on and off again for 3 years, and have had deals fall through because of financing. That information is power. Mind you that tiny little bit of information still needs to be interpreted and kept in perspective but nevertheless its power.

Comparable Sales

This will help you determine the actual value of the property. Many buyers get caught thinking if they get a certain amount off of the list price they are getting a deal, but if you get $50k off the list price for a home asking $75k more than it's worth….it's not a good deal.


These pieces of information are vital to anyone writing an offer. This will help you gauge the position the seller is in, how motivated they may be, and what the property is actually worth and more. TMS (title, mls, sales) don't write without it!

Good luck,

Frequently asked questions by Landlords.

In the Calgary Real Estate market today it seems just about everybody has a rental property on the side. Whether you are a full time investor or just a dabbler it is always best to know tenants rights and practices. The following are answers to some of the most frequent questions that I hear.

1) How often can I increase the rent and by how much?

You can increase the rent every 365 days and there are no caps on the amount of the increase.

2) How much notice do I have to give my Tenants for a rent increase?

If your tenants are periodic (month to month) you must give them 3 months written notice. If your tenants have a lease agreement then rent can be increased at the end of the lease as long as it has been 365 days from the time they moved in or from the last increase.

3) How much notice is required before I turn my apartment building into condominiums?

You need to give a full year notice to end their tenancy and rent cannot be increased during that time.

4) How much notice do I need to give if I need the unit to be vacant in order to do major renovations?

You need to give a full year notice to end their tenancy and rent cannot be increased during that time.

5) How much notice is required if I want the tenants to move out in order to facilitate a sale?

Three months notice must be given for a sale of the unit. This only applies to periodic tenants. Tenants with a fixed contract or lease agreement do not have to move out until the end of the term.

6) Who is responsible for giving a tenant notice if a buyer wants to occupy the unit themselves or does not want that particular tenant in their rental property?

The buyer is responsible. She must request in writing that the Seller issue the three month termination notice to the tenant, as a condition of the sale.

7) What if the buyer does not give the seller a request to terminate the tenancy?

If the tenancy is not terminated then the buyer inherits the tenant when she takes ownership of the property.

8) How much notice do I need to give my tenant for a showing?

The law states that you must give 24 hrs notice for a showing. However, I find the best practice for selling a tenant occupied property is to give the tenant some incentive. One months rent rebate for a successful sale can go a long way as incentive for the tenant to show the unit quickly and cleanly.

The biggest thing you can take away from all this is that if you are considering selling your rental property in the immediate future try to negotiate a month to month lease with your tenants. Conversely if you are already on a fixed term lease then list your home about 3 months prior to the end of the lease and clearly indicate on the listing when the lease expires. If you would like more information please visit Service Alberta.

Good Luck!

Summer Cool Down Continues in Calgary Housing Market.

Calgary, August 3, 2010 – The summer cool down in Calgary’s housing market continued in the month of July, according to figures released today by the Calgary Real Estate Board (CREB®).

The number of single family homes sold in July 2010 in the city of Calgary was down 42 per cent from the same time a year ago, and condominium sales saw a decrease of 44per cent from the same time a year ago.

July 2010 saw 915 single family homes sold in the city of Calgary. This is a decrease of 14 per cent from 1,061 sales in June 2010. In July 2009, single family home sales totalled 1,585. The number of condominium sales for the month of July 2010 was 396. This was a decrease of 11 per cent from the 445 condominium transactions recorded in June 2010. In July 2009, condominium sales were 702.

“Calgary’s housing market is cooling off after its record-setting pace in the post-recession period. This slow-down is not all that surprising in the face of tighter mortgage regulations and rising interest rates. The post-recession rally we saw in the summer of 2009 was unique and that pace couldn’t be sustained,” says Sano Stante, president-elect of CREB®.

“The sense of urgency seen last summer, fall and winter in the lead-up to tighter mortgage-lending measures has diminished,” says Stante. “Rising mortgage rates and increased inventories will be the primary head-wind facing Calgary’s housing market, but improving job prospects will offer some tail winds in the latter half of 2010 and into 2011.”

The average price of a single family home in the city of Calgary in July 2010 was $464,655, showing a 4 per cent decrease from June 2010, when the average price was $481,964, and showing an increase of 6 per cent from July 2009, when the average price was $436,782. The average price of a condominium in the city of Calgary was $291,168, showing no significant change from June 2010, when the average price was $292,238 and a 2 per cent increase over last year, when the average price was $285,032. 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.

“We are seeing relative stability in our average and median prices for the Calgary market,” says Stante. “A gradual return to moderate interest rates will not trigger any kind of steep decline in prices in our housing market. Prices may soften in select markets where inventory has bulked up, but for the most part they will remain relatively sticky as the economy improves.”

“Nonetheless with the combination of historically low interest rates and a large inventory of homes, there are some great buys out there—particularly in areas where comparable stock is ample such as the condominium and multi-family market. This presents a great opportunity to get into the market or to trade up,” adds Stante.

The median price of a single family home in the city of Calgary for July 2010 was $400,000, showing a 5 per cent decrease from June 2010, when the median price was $418,900, and a 3 per cent increase from July 2009, when the median price was $390,000. The median price of a condominium in July 2010 was $268,000, showing a 1 per cent decrease from June 2010, when the median was $269,900. That’s up 2 per cent from July 2009, when the median price was $263,000.

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.

There was a slowdown in the number of Calgarians putting homes up for sale in the month of July. Single family listings in the city of Calgary added for the month of July totalled 1,942, a decrease of 29 per cent from June 2010 when 2,733 new listings were added, and showing a decrease of 7 per cent from July 2009, when 2,089 new listings came to the market.

Condominium new listings in the city of Calgary added for July 2010 were 890, down 18 per cent from June 2010, when the MLS® saw 1,084 condo listings coming to the market. This is a decrease of 3 per cent from July 2009, when new condominium listings added were 918.

“Indeed Alberta and Calgary’s economic recovery is lagging behind the rest of the country right now. But on the bright side we see this trend reversing itself as we move into 2011. We expect Alberta to lead in economic growth and recovery—outperforming much of the country in 2011,” says Stante.

courtesy of CREB.

Show your home better

When you put your home on the market you will go through the motions of staging your house, cleaning every nook and cranny and interviewing agents to find the best one for the job. But what about the actual showing itself? Have you done enough to ensure your home stands apart from the competition? Here are some tips to improve the odds of selling your home:

Caged dogs should go in a back room or the garage.

Pets are a touchy subject for homeowners. Unfortunately, an ill conceived idea on where to house a pet during your showings could be a deal breaker for a potential buyer. If you're going to cage your pet, especially a dog, make sure it's in a back room or in the garage. Leaving your dog in plain view during a tour will ensure endless amounts of barking and coversely will rush your potential buyers showing. Remember, you want your buyers to spend a lot of time in your home. You want them to sit on your couch and visualize the space as their own.

Turn on all the Lights.

During cloudy or sunny days leave them all on. Especially the ones in the basement. Nothing kills buyers excitement more than walking into a house that would have Indiana Jones searching for a lantern.

Don't leave a car parked in the driveway.

This isn't that big of a deal in the grand scheme of things you need to do while showing your home but its important. When a REALTOR arrives with their client they're most likely in two separate cars. If you have a short or circular driveway with your car in it then you may turn off both the agent and buyers with the perceived lack of space for cars.

Avoid cooking high odor foods if you have a showing that day.

Not something that you can control if you get a last minute showing but high odor foods can be a kiss of death for your home's saleability. I can't even count on all fingers and toes how many times a buyer has run out of a house after walking into a stinky kitchen.

Move bulky furniture out of potential walking paths.

While showing homes recently I saw every seller's worst nightmare: an irritated buyer. Because each buyer has a different set of circumstances (some are pregnant, some have trouble walking etc.) you should do your best to remove any obstructions like folded up treadmills and toys so a buyer can move through your home with ease.

De-Clutter!

The best advise to show your home is to show every aspect of your home as large as possible.
Simplify bookshelves by removing most of the books.
Remove all pictures and papers off the refrigerator.
Clean off almost everything on the counter. Key items should still remain in order to stage the home. You want your potential buyer to understand the function of the space, but still conceive it as being a large room.
Put essential items used daily in a small box that can be stored in a closet when not in use.
Thin out closets to give the illusion of more space.
Think of this process as a head-start on the packing you will eventually need to do anyway.

The best tip I can give you to show your home is to go see some local show homes done by builders. This small investment in time will hopefully point you in the right direction to show your home to the best of its ability.

Good Luck!

Economic forecast & rate increase July 2010

Calgary Mortgage Rates


Effective: July 20, 2010
Term Market Rate** Best Rate***
Adjustable Prime Prime - 0.60%
6 month 4.85% 3.95%
1 year 4.05% 2.54%
2 year 4.55% 3.20%
3 year 5.21% 3.60%
4 year 5.74% 4.09%
5 year 6.25% 3.99% Quick Close
4.19% Pre-approval
7 year 6.59% 5.00%
10 year 6.90% 5.20%
Prime 2.50%

Rate Increase from Bank of Canada!


Bank of Canada Increases Overnight Rate Target to 3/4 Per Cent

OTTAWA, July 20

The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the bank Prime rate is now 2.7 per cent.

Economic activity in Canada is unfolding largely as expected, led by government and consumer spending. Housing activity is declining markedly from high levels, consistent with the Bank's view that policy stimulus resulted in household expenditures being brought forward into late 2009 and early 2010. While employment growth has resumed, business investment appears to be held back by global uncertainties and has yet to recover from its sharp contraction during the recession.

The Bank expects the economic recovery in Canada to be more gradual than it had projected in its April. This revision reflects a slightly weaker profile for global economic growth and more modest consumption growth in Canada. The Bank now expects the economy to return to full capacity at the end of 2011, two quarters later than had been anticipated in April.

Reflecting all of these factors, the Bank has decided to raise the target for the overnight rate to 3/4 per cent. This decision leaves considerable monetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the significant excess supply in Canada, the strength of domestic spending, and the uneven global recovery.

Given the considerable uncertainty surrounding the outlook, any further reduction of monetary stimulus would have to be weighed carefully against domestic and global economic developments.The next scheduled date for announcing the overnight rate target is Sept. 8

Top 7 Reasons to Use a Buyer's Agent in a Real Estate Transaction

Purchasing a home is a big step, and a big decision. The average person spends around 1/3 of their income on their home. The home that you choose has a big impact on your life, and can have a big impact on your finances, as well. It always surprises me when Buyers attempt to “go at it alone” because of the possibility of mistakes. A good Buyer’s Agent is invaluable to a Buyer, and can be the difference between a wonderful transaction, and a nightmare.

1. Full access to the MLS

The Multiple Listing Service (MLS) is a powerful tool that only Realtors have access to. When listing agents market a home for sale, they typically allow any Realtor to present the home to potential buyers, and to present contracts for purchase. The MLS is a database of all homes listed by Realtors, and represents roughly 99% of the homes for sale in any given market. As technology advances, so does the MLS. It has evolved into an extremely powerful search engine that allows your buyer’s agent to enter in search criteria, and returns only homes that match those specific parameters. Buyers can find a lot of this information online through IDX feeds available on many websites, but this information is a “watered down” version of the MLS because the IDX search engines aren’t quite as powerful, and don’t return as detailed profiles as the MLS.

2. Maximize your time

While driving neighborhoods is an excellent idea to help you decide which locations you prefer, it’s not a very efficient way to find your new. home. Gas is expensive, and your time is valuable. Your Buyer’s Agent will listen to your needs, make fantastic suggestions based on your likes & dislikes, and provide you with a list of homes that ALL match your wants & needs. Your Buyer’s Agent has helped MANY new homebuyers through MANY purchases, and will help you better organize your search & decision making process – saving you valuable time.

3. Representation

Listing Agents enter into legally binding agreements that require them to ALWAYS act in the best interest of the seller. They are the seller’s “coach” and will make sure that their clients’ best interests are looked after. Luckily, your Buyer’s Agent is there to make sure YOUR best interests are accounted for. With your expert Buyer’s Agent in your corner, you can rest assured that you’re on, at least, even ground with the home seller. A football team would be at a pretty significant disadvantage without a coach – just as you would be without a Buyer’s Agent.

4. Negotiating Power

The MLS maintains a record of, not only all homes listed by Realtors in a given market, but also the sales price of those homes. Your Buyer’s Agent will run a Comparative Market Analysis (CMA) to determine a prospective home’s Fair Market Value (FMV). In simpler terms, your Realtor will look at similar homes in the same neighborhood that have sold recently. This way, you will know whether or not the seller has their home priced fairly. If the home is priced over Fair Market Value, your Buyer’s Agent can present your “under asking price” offer with plenty of firepower – and a greater chance that the offer will be accepted.
Experience

The average person buys 3-5 homes in their lifetime. A good Buyer’s Agent will assist in 3-5 home purchases every month. What might seem complicated and intimidating to you is fairly common and familiar to your Realtor. Your Buyer’s Agent will know what to expect, and will know when to alert you if anything out of the ordinary occurs.

6. Industry contacts

It takes a lot of people to close a real estate transaction – Buyer’s Agent, Listing Agent, Loan Officer, Inspector, Appraiser, Insurance Agent, General Contractors, and sometimes more! A good agent will come with a strong closing team that has performed in the past, and will continue to perform. A transaction is only as strong as its weakest link – with your strong Buyer’s Agent & their closing team, you can rest assured that you will have plenty of support.

7. Peace of mind

If you are like most people, your home is the largest purchase you will ever make. The average person spends around 1/3 of their total monthly income on their home. This is a big decision and you don’t want to go at it alone. When you use a trusted Buyer’s Agent, you know that your best interests are accounted for, and that you can feel confident in your purchase.




Courtesy of Eric Bramlett



5.

Calgary Real Estate market is now a buyer's market.

• For the month of June 2010 the average Calgary house price was $481,964, down 0.2% from last month and up 7.8% from June 2009. The median Calgary house price for June 2009 was $418,900, down 0.3% from last month and up 5.0% from June 2009
• The average Calgary condo price for June 2010 was $292,238, down 4.0% from last month and up 2.3% from the same period last year. the median Calgary condo price for June 2009 was $269,900, down 3.5% from last month and up 1.7% from June 2009.
• The average days on market (DOM) for June 2009 was 39 days for single family Calgary homes sold. For June 2010 the average the average DOM for Calgary condos was 46 days.
• Calgary real estate listing inventory now sits at 5.7 months supply, 48 % more listings now than at the same time last year. With the growing number of Calgary real estate listings on the market we don't see prices trending much higher than the current level. Our conservative estimate is actually a decrease in home prices of 5-8% across the board and as high as 20% in high end homes and condos.
• It is important that consumers understand that an adjustment in the market is normal and healthy. Our adjustment seems more rapid than usual only because of mortgage rate changes, and government enforced lending requirements.
• There will never be a better time to enter the market as a first time home buyer or move up to a larger home. Let us set you up with the best search for new Calgary listings right here. Using the latest technology, you'll receive new Calgary MLS listings directly by email, long before they appear on MLS.ca