tag:blogger.com,1999:blog-11488795228732362382024-02-08T13:40:49.738-07:00Calgary Market InfoProviding relevant & reliable information for Buyers and Sellers.Unknownnoreply@blogger.comBlogger31125tag:blogger.com,1999:blog-1148879522873236238.post-5874150986938640682013-06-25T13:56:00.000-06:002013-06-25T13:56:00.645-06:00CMHC Housing Market Outlook Spring 2013<div dir="ltr" style="text-align: left;" trbidi="on">
The spring 2013 market outlook from CMHC has been released. It can be found in its entirety <a href="http://www.cmhc-schl.gc.ca/odpub/esub/64339/64339_2013_B01.pdf">here</a>. Below are snippets from the report.<br />
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<u><b>NEW HOME MARKET</b></u><br />
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Following a 38 per cent increase in 2012, total housing starts in the Calgary Census Metropolitan Area (CMA) are forecast to decline 8.9 per cent in 2013 before increasing slightly next year. While new single detached construction will see a modest increase over the next two years, the elevated pace of multi-family construction witnessed in 2012 is not expected to continue this year. Heightened supply levels and the threat of rising inventories will warrant a reduction in multi-family starts in 2013. A moderation in the pace of job creation and net migration will also warrant a lower level of starts this year.<br />
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<b><u>MULTI-FAMILY STARTS</u></b><br />
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Multi-family construction this year is not expected to be as strong as 2012 when starts reached its second highest level since 1981. The increase in the number of units under construction and the prospect of rising inventories will keep starts from returning to last year’s elevated levels. In 2013, multi-family starts are forecast to total 5,500 units, a 20 per cent decline from 2012. Despite<br />the reduction, multi-family units will continue to be an option for a variety of buyers, such as renters looking for their first home, individuals planning to downsize, or investors seeking an income-producing property. Provided supply levels move lower and inventory levels do not escalate, multi-family starts in 2014 are forecast to increase 5.5 per cent to 5,800 units.</div>
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<b><u>RESALE MARKET</u></b></div>
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Residential MLS<span style="font-size: 6.5px;">® </span>sales in Calgary are forecast to total 27,000 transactions in 2013, up 1.4 per cent from 26,634 in 2012. The gain in sales will not be as pronounced as in 2012 when sales increased 19 per cent, as some of the primary drivers of housing demand such as employment and migration will experience a lower rate of growth this year. In 2014, MLS<span style="font-size: 6.5px;">® </span>sales are forecast to reach 27,700 units, a 2.6 per cent increase from 2013. The economy in Calgary will continue to create jobs while relatively low mortgage rates and rising incomes will help buyers purchase a home.</div>
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<br />Home prices in Calgary have not posted strong gains in the last couple of years, following the declines in average price in 2008 and 2009. As such, a number of homeowners are waiting for prices to increase further before listing their homes. With prices rising moving forward, more homeowners will look to capitalize on equity gains and list their homes. New listings in 2013 are forecast to finish the year slightly above 2012 levels at 42,500 units. For 2014, new listings are forecast to reach 43,000 units, up 1.2 per cent from a year earlier.</div>
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<br />With higher sales and moderating listings, the sales-to-active listings ratio increased to an average of 35 per cent in the first three months of 2013, up from 28 per cent one year earlier. Under these conditions, the average MLS<span style="font-size: 6.5px;">® </span>residential price in Calgary is expected to rise this year and next. While the increase in demand has reduced active listings, it has also shortened the time to sell. In addition, an increase in the proportion of sales in the luxury home market will continue to contribute to the rise in the average price. Collectively, these factors will boost the average price 4.0 per cent in 2013 to $429,000, surpassing the record reached in 2007. As the market is expected to remain in balanced territory, the average price is forecast to reach $439,000 in 2014, an increase of 2.3 per cent.</div>
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1148879522873236238.post-15785277450398036622013-06-19T09:13:00.000-06:002013-07-28T15:20:32.828-06:00Smokers Ruin Property Value<div dir="ltr" style="text-align: left;" trbidi="on">
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Smoking in the home may significantly affect property values, and allowing smoking in rental units is costly to landlords.</div>
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Pfizer Canada, a leading biopharmaceutical company, recently sponsored a survey of Realtors conducted by Leger Marketing, which concluded that 87 per cent of Ontario real estate agents and brokers surveyed said smoking in the home lowers resale value. Eighty-nine per cent said smoked-in homes are more difficult to sell.</div>
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Thirty-one per cent said smoking may lower a property’s value by 20 to 29 per cent, and 21 per cent said the value could drop 30 per cent or more. That’s $120,000 on a $400,000 home!</div>
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Fifty-six per cent said most buyers are less likely to buy a home where people have smoked and 27 per cent said most buyers are actually unwilling to buy a home where people have smoked.</div>
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The number one reason given was smell; number two was health (second- and third-hand smoke).</div>
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Rental landlords know about smoker smell. Unless the new renter of the unit is a smoker too, the new tenant invariably requires the unit to be “detoxified.” This may cost $450 to paint a one- or two-bedroom unit, $100 or more to steam vacuum the carpets and maybe $100 to wipe down and clean all other surfaces (windows, mirrors, balcony doors, closet doors, kitchen cabinets, appliances). You may need to replace or repair countertops, appliances and other surfaces that have been marred by cigarette burns. In a heavily smoked-in unit, you may need to use a stain killer primer or extra paint; replace carpets; clean vents, ducts and ceiling fans; and even clean electrical sockets, where tar and nicotine can accumulate. Promising to deliver a smoke-free unit that still aggravates the new tenant could lead to further costs and a rent abatement award from the Landlord and Tenant Board.</div>
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Now add in the possible loss of the insurance deduction for a smoke-free building.</div>
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Then there are the possible complaints of neighbours, or the loss of tenants with health concerns for themselves or their children.</div>
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The Council of Canadian Fire Marshals and Fire Commissioners report that smokers’ materials and open flame (cigarettes, lighters and matches) remain the No. 1 ignition source in fatal residential fires. Between 1993 and 2002 (most recent figures available) there were 9,414 fires, more than $231 million in losses, 688 injuries and 94 deaths caused by lit smokers’ materials.</div>
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Landlords and property managers may be concerned that rejecting smoker tenants would constitute discrimination and possibly increase their vacancy rate. The former is incorrect and statistics for the latter say otherwise.</div>
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Smokers are not one of the protected groups of the Human Rights Code and, according to the Non-Smokers’ Rights Association Smoking and Health Action Foundation, it is legal for a landlord anywhere in Canada to include an enforceable no-smoking policy in their lease.</div>
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Health Canada’s Annual Canadian Tobacco Use Monitoring Survey (2011) reported that 14 per cent of Canadians smoke daily, while four per cent smoke occasionally. Daily smokers consumed an average of 14.4 cigarettes per day.</div>
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Rental landlords, take note: a survey commissioned by the Ontario Tobacco-Free Network (conducted by Ipsos Reid) that researched drifting second-hand smoke in multi-unit dwellings (March 2007), reported that 64 per cent of Ontario respondents would prefer a smoke-free building if such a choice was offered. That means that, as a rental landlord, you can either:</div>
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a) rent to the minority 14 per cent market of smokers, try to attract some of the remaining 22 per cent who appear to be indifferent to smokers, and pay the additional smoker-specific cleaning costs when re-renting a unit, or;</div>
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b) rent to the 64 per cent of smoker-intolerant tenants; try to attract some of the same smoker-tolerant 22 per cent (total 86 per cent of the market) of tenants and save the average $650 additional smoker-specific cleaning costs.</div>
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<i style="font-family: 'Times New Roman', serif; font-size: 16px; line-height: 22px; text-align: -webkit-auto;">Chris Seepe is a commercial real estate broker and broker of record at Aztech Realty in Toronto, specializing in income-generating and multi-residential investment properties, retail plazas, science and technology-related specialty uses (laboratories, data centres, call centres) and tenants mandates. (416) 525-1558; Email <a href="mailto:cseepe@aztechrealty.com" style="color: purple;">cseepe@aztechrealty.com</a>: website <a href="http://www.aztechrealty.com./" style="color: purple;">www.aztechrealty.com.</a></i></div>
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1148879522873236238.post-65517211791726230522013-05-09T15:47:00.002-06:002013-05-09T15:54:48.832-06:00Calgary Housing Market Hits Benchmark Price!<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="font-size: xx-small;"><span style="color: #5e6e66;"><span lang="EN-GB"><span style="color: black;">Calgary, May 1, 2013</span></span></span></span> – <span style="letter-spacing: -0.05pt;"><span style="font-size: x-small;"><span style="letter-spacing: -0.05pt;"><span style="font-size: x-small;">The benchmark price of single-family homes reached a new high of $452,900 in April, as market conditions that favour the seller finally drove prices above the unadjusted peak of 2007.</span></span></span></span></span><br />
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<span style="font-size: x-small;"><span style="letter-spacing: -0.05pt;"><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-small;">“It’s really encouraging to see that the Calgary market remains strong,” said Becky Walters, president of CREB®’s board of directors. “It’s reassuring to both buyers and sellers to see that this area is outperforming many parts of the country.”</span></span></span></div>
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<span style="font-size: x-small;"><span style="letter-spacing: -0.05pt;"><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-small;">Single-family sales totalled 1,611 in April, nearly two per cent higher than the previous year, but year-to-date figures are similar to levels recorded in 2012. Sales growth in the first part of the year was stifled by a shortage of new listings and inventory. However, the year-over-year increase of 6.2 per cent helped support sales growth in April.</span></span></span></div>
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<span style="font-size: x-small;"><span style="letter-spacing: -0.05pt;"><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-small;">“Declining selection in the lower price range and market conditions that favour the seller in the overall single-family market has resulted in a boost in demand in the condominium market and surrounding towns,” said CREB® chief economist Ann-Marie Lurie. “Inventory levels declined across all of these segments. However, surrounding towns remain in balanced territory, as they experienced the effect of previously elevated inventory levels.”</span></span></span></div>
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<span style="font-size: x-small;"><span style="letter-spacing: -0.05pt;"><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-small;">After the first four months of the year, condominium apartment sales totalled 1,258 units, an 11 per cent increase over the previous year. Sales growth outpaced the number of new listings, causing inventory levels to decline to 893 units. This pushed the market toward a sellers’ market.</span></span></span></div>
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<span style="font-size: x-small;"><span style="letter-spacing: -0.05pt;"><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-small;">Tighter market conditions supported a year-over-year benchmark price growth of 7.35 per cent. Unlike the single-family sector, however, condo apartment prices remain well below unadjusted highs recorded in 2007.</span></span></span></div>
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<span style="font-size: x-small;"><span style="letter-spacing: -0.05pt;"><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-small;">Walters said a move to a sellers’ market will encourage those who have been waiting for price recovery to put their homes on the market. This, in turn, will provide more choices for buyers.</span></span></span></div>
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<span style="font-size: x-small;"><span style="letter-spacing: -0.05pt;"><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-small;">“New listings have been declining for the last few years as prices had not recovered,” she said. “People who did not have to sell chose to hold off. Price improvement can encourage new listings, easing some of the tension on the supply levels.”</span></span></span></div>
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<span style="font-size: x-small;"><span style="letter-spacing: -0.05pt;"><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-small;">There were 3,497 new residential listings in the city, an eight per cent increase relative to 2012. Sales activity also increased to a total of 2,376. Residential year-to-date sales improved by nearly four per cent compared to the same time in 2012. Meanwhile, citywide benchmark prices totalled $406,000 a seven per cent rise over the previous year.</span></span></span></div>
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<span style="font-size: x-small;"><span style="letter-spacing: -0.05pt;"><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-small;">“Calgary’s housing market continues to defy national softening trends as gains in the employment sector, migrant growth, rising wages and low interest rates are translating into growing demand for housing,” Lurie said.</span></span></span></div>
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<span style="font-size: x-small;"><span style="letter-spacing: -0.05pt;"><span style="font-family: Arial, Helvetica, sans-serif; font-size: x-small;">For the first time since 2007, conditions favour the seller. However, economic conditions today are vastly different, making it unlikely that Calgary will see a repeat of those conditions, Lurie said. Our economy faces some challenges this year, and consumers still have options in both the new home market and surrounding towns, all factors that will temper price growth.</span></span></span></div>
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Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1148879522873236238.post-33649096542211652362011-12-14T15:15:00.003-07:002011-12-14T15:41:45.018-07:00Interview Questions To Ask Your Next RealtorAlthough there are many other selling options, the majority of Canadians choose to use a real estate agent to sell their home. Most Realtors are qualified, educated, and well versed in contract law. They can also have localized expertise in your neighbourhood or market. It is absolutely critical that the Realtor you choose has the skills to get the job done. Selling a home is not luck. There is a reason why 20% of the Realtor do 80% of the work. There is also a reason why year after year the same Realtors are consistent Top Producers. When interviewing your next Realtor to sell your home here are some questions for you to ask him or her;<div><br /></div><div><span class="Apple-style-span" style="color: rgb(34, 34, 34); line-height: 18px; font-family:arial, verdana, tahoma, sans-serif;font-size:14px;"><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* How long have you been selling real estate?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* How many homes did you sell last year?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* Are you a full-time agent?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* Is it the right time to sell?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* Do you work solo or as part of a team?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* How do you price a home?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* For the homes you listed in the past year, what was the average number of days they spent on the market?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* For the just mentioned list of homes, what was the average difference between the listing price and the selling price?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* How do you market the homes you list?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* Do you do any social media marketing?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* How do you use the Internet?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* Do you offer virtual tours of listed homes?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* What websites will you use to advertise the home?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* Do you have a website?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* Do you have a feedback system for potential buyers and their Realtors?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* Before you list a house, do you give clients ideas on how to make their home more marketable?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* When you’ve listed a home, how do you report back to your sellers regarding activity on the property?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* Do you have access to other professionals that clients need during the selling process?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* How do you handle negotiations?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* Do you attend inspections and appraisals after an offer is in place?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* How much do you charge?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* Will I have to pay any hidden costs?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* How accessible are you?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* How does it benefit a client if he uses you to sell?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* Why should someone list with you over other Realtors in the area?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* How much professional training do you get every year?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* If a client is unhappy with your service, can he terminate your contract and the listing?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* Do you have a list of references for potential clients?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* What are your thoughts on the real estate market today?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">* What else should a client ask you that he hasn’t already asked?</p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 15px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; background-position: initial initial; background-repeat: initial initial; ">This is just a start, but hopefully it will help you in interviewing Realtors better. Good luck,</p></span></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1148879522873236238.post-83892534468504729112011-11-10T00:57:00.002-07:002011-11-10T01:01:37.123-07:00Is buying a condo for your college student a good idea?<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; font: normal normal normal 12px/1.5 Verdana, sans-serif; "><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;"><span class="Apple-style-span" style="line-height: normal;">Sometimes a parent decides to buy a place for their children while they hit the books in university or college. It can be a good alternative to paying thousands of dollars toward residence fees or rent. Just look at the math:</span></span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; font: normal normal normal 12px/1.5 Verdana, sans-serif; "><span style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline- vertical-align: baseline; line-height: normal;color:initial;"><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;">Student rent of $500 a month = $6,000 a year = $24,000 over 4 years of school.</span></span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; font: normal normal normal 12px/1.5 Verdana, sans-serif; "><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;"><span class="Apple-style-span" style="line-height: normal;">That money could go to your mortgage instead as an investment for you.</span></span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; font: normal normal normal 12px/1.5 Verdana, sans-serif; "><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;"><span class="Apple-style-span" style="line-height: normal;">In Ottawa, for example, you can buy an older one-bedroom condo for about $195,000. Or, buy a 2-bedroom for $240,000 and let your child’s roommate help cover the mortgage by paying rent. Let’s assume you pay 20 per cent down. Here’s an example of what your monthly costs could total when morgage rates are low:</span></span></p><table class="default" border="0" width="100%" cellspacing="0" style="text-align: left; margin-top: 0px; margin-right: 0px; margin-bottom: 25px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; font: normal normal normal 11px/1.5 Verdana, sans-serif; width: 460px; "><tbody style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline- vertical-align: baseline; color:initial;"><tr class="header" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline- vertical-align: baseline; color:initial;"><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 5px; padding-right: 5px; padding-bottom: 5px; padding-left: 5px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 1px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: top; text-align: left; border-bottom-style: dotted; border-bottom-color: rgb(0, 0, 0); "><span style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline- vertical-align: baseline; line-height: normal;color:initial;"><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;">Cost</span></span></td><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 5px; padding-right: 5px; padding-bottom: 5px; padding-left: 5px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 1px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: top; text-align: left; border-bottom-style: dotted; border-bottom-color: rgb(0, 0, 0); "><span style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline- vertical-align: baseline; line-height: normal;color:initial;"><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;">1 Bedroom</span></span></td><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 5px; padding-right: 5px; padding-bottom: 5px; padding-left: 5px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 1px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: top; text-align: left; border-bottom-style: dotted; border-bottom-color: rgb(0, 0, 0); "><span style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline- vertical-align: baseline; line-height: normal;color:initial;"><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;">2 Bedroom</span></span></td></tr><tr class="odd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline- vertical-align: baseline; color:initial;"><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 5px; padding-right: 5px; padding-bottom: 5px; padding-left: 5px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 1px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: top; text-align: left; border-bottom-style: dotted; border-bottom-color: rgb(0, 0, 0); "><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;"><span class="Apple-style-span" style="line-height: normal;">Mortgage payment</span></span></td><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 5px; padding-right: 5px; padding-bottom: 5px; padding-left: 5px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 1px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: top; text-align: left; border-bottom-style: dotted; border-bottom-color: rgb(0, 0, 0); "><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;"><span class="Apple-style-span" style="line-height: normal;">$800</span></span></td><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 5px; padding-right: 5px; padding-bottom: 5px; padding-left: 5px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 1px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: top; text-align: left; border-bottom-style: dotted; border-bottom-color: rgb(0, 0, 0); "><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;"><span class="Apple-style-span" style="line-height: normal;">$1,000</span></span></td></tr><tr class="even" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline- vertical-align: baseline; color:initial;"><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 5px; padding-right: 5px; padding-bottom: 5px; padding-left: 5px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 1px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: top; text-align: left; border-bottom-style: dotted; border-bottom-color: rgb(0, 0, 0); "><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;"><span class="Apple-style-span" style="line-height: normal;">Condo fees</span></span></td><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 5px; padding-right: 5px; padding-bottom: 5px; padding-left: 5px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 1px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: top; text-align: left; border-bottom-style: dotted; border-bottom-color: rgb(0, 0, 0); "><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;"><span class="Apple-style-span" style="line-height: normal;">$350</span></span></td><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 5px; padding-right: 5px; padding-bottom: 5px; padding-left: 5px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 1px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: top; text-align: left; border-bottom-style: dotted; border-bottom-color: rgb(0, 0, 0); "><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;"><span class="Apple-style-span" style="line-height: normal;">$450</span></span></td></tr><tr class="odd" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline- vertical-align: baseline; color:initial;"><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 5px; padding-right: 5px; padding-bottom: 5px; padding-left: 5px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 1px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: top; text-align: left; border-bottom-style: dotted; border-bottom-color: rgb(0, 0, 0); "><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;"><span class="Apple-style-span" style="line-height: normal;">Property taxes, maintenance</span></span></td><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 5px; padding-right: 5px; padding-bottom: 5px; padding-left: 5px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 1px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: top; text-align: left; border-bottom-style: dotted; border-bottom-color: rgb(0, 0, 0); "><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;"><span class="Apple-style-span" style="line-height: normal;">$300</span></span></td><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 5px; padding-right: 5px; padding-bottom: 5px; padding-left: 5px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 1px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: top; text-align: left; border-bottom-style: dotted; border-bottom-color: rgb(0, 0, 0); "><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;"><span class="Apple-style-span" style="line-height: normal;">$400</span></span></td></tr><tr class="even" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline- vertical-align: baseline; color:initial;"><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 5px; padding-right: 5px; padding-bottom: 5px; padding-left: 5px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 1px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: top; text-align: left; border-bottom-style: dotted; border-bottom-color: rgb(0, 0, 0); "><span style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline- vertical-align: baseline; line-height: normal;color:initial;"><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;">Total</span></span></td><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 5px; padding-right: 5px; padding-bottom: 5px; padding-left: 5px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 1px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: top; text-align: left; border-bottom-style: dotted; border-bottom-color: rgb(0, 0, 0); "><span style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline- vertical-align: baseline; line-height: normal;color:initial;"><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;">$1,450</span></span></td><td style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 5px; padding-right: 5px; padding-bottom: 5px; padding-left: 5px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 1px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: top; text-align: left; border-bottom-style: dotted; border-bottom-color: rgb(0, 0, 0); "><span style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline- vertical-align: baseline; line-height: normal;color:initial;"><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;">$1,850</span></span></td></tr></tbody></table><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; font: normal normal normal 12px/1.5 Verdana, sans-serif; "><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;"><span class="Apple-style-span" style="line-height: normal;"><span style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline- vertical-align: baseline; color:initial;">Think about it:</span> if your child rents a place, your money is helping the landlord pay his or her mortgage and other costs. If you buy a place instead and rent it to them, you have a real estate investment with a guaranteed tenant: your child. If the investment goes up in value, you will make money. Just remember that those gains will be taxed.</span></span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; font: normal normal normal 12px/1.5 Verdana, sans-serif; "><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;"><span class="Apple-style-span" style="line-height: normal;">Also remember, mortgage rates and other costs change, and these changes will impact the numbers and your decision.</span></span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; font: normal normal normal 12px/1.5 Verdana, sans-serif; "><span style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline- vertical-align: baseline; line-height: normal;color:initial;"><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;">Things to consider before you decide:</span></span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; font: normal normal normal 12px/1.5 Verdana, sans-serif; "><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;"><span class="Apple-style-span" style="line-height: normal;">You can buy the property in your name, in your child’s name, or both. If you buy the property in your name, you should consider:</span></span></p><ul class="inlinelist" style="margin-top: 0px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 25px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; list-style-type: none; list-style-position: initial; list-style-image: initial; font: normal normal normal 12px/1.2 PrattHeavy, Georgia, 'Times New Roman', serif; "><li style="margin-top: 0px; margin-right: 0px; margin-bottom: 3px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; list-style-position: outside; list-style-type: disc; "><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; font: normal normal normal 12px/1.5 Verdana, sans-serif; "><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;"><span class="Apple-style-span" style="line-height: normal;">The rental income you charge can pay a lot of your costs. Just remember you have to declare that income on your tax return.</span></span></div></li><li style="margin-top: 0px; margin-right: 0px; margin-bottom: 3px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; list-style-position: outside; list-style-type: disc; "><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; font: normal normal normal 12px/1.5 Verdana, sans-serif; "><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;"><span class="Apple-style-span" style="line-height: normal;">As a landlord, you can also claim many of your expenses, including mortgage interest. Assess your costs carefully before you buy. They will vary with the local real estate market, mortgage rates and other factors.</span></span></div></li><li style="margin-top: 0px; margin-right: 0px; margin-bottom: 3px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; list-style-position: outside; list-style-type: disc; "><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; font: normal normal normal 12px/1.5 Verdana, sans-serif; "><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;"><span class="Apple-style-span" style="line-height: normal;">Plan for some vacancies. Your child (or their roommate) may not stay in the condo over the summer break. Are you really going to ask them to pay rent if they are living somewhere else for a few months?</span></span></div></li><li style="margin-top: 0px; margin-right: 0px; margin-bottom: 3px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; list-style-position: outside; list-style-type: disc; "><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; font: normal normal normal 12px/1.5 Verdana, sans-serif; "><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;"><span class="Apple-style-span" style="line-height: normal;">Remember that you will own a greater share of the equity as you pay off the mortgage. And, the value of the condo may rise over time. This can offset your costs. But whether you do more than break even depends on what happens to housing prices in the area.</span></span></div></li></ul><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; font: normal normal normal 12px/1.5 Verdana, sans-serif; "><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;"><span class="Apple-style-span" style="line-height: normal;">There are other benefits, too. Your child won't need to look for a different place to live each year. They also won’t have to worry about subletting every summer. And their furniture won’t be coming back with them if they live at home over the summer break. Not a bad deal.</span></span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; font: normal normal normal 12px/1.5 Verdana, sans-serif; "><span style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline- vertical-align: baseline; line-height: normal;color:initial;"><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;">Remember: you may not make money if you buy a student condo.</span></span></p><p style="margin-top: 0px; margin-right: 0px; margin-bottom: 20px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; border-top-width: 0px; border-right-width: 0px; border-bottom-width: 0px; border-left-width: 0px; border-style: initial; border-color: initial; outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; font: normal normal normal 12px/1.5 Verdana, sans-serif; "><span class="Apple-style-span" style="font-family:Georgia, serif;font-size:100%;"><span class="Apple-style-span" style="line-height: normal;">But there are other reasons you may decide to go ahead. At the very least, you can provide your child with a nice place to live in a good neighbourhood while they go to school.</span></span></p>Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-1148879522873236238.post-80383213811044365542011-11-01T11:49:00.000-06:002011-11-01T11:50:56.734-06:00Calgary Housing Update<p style="margin-left: 40px; font-family: Helvetica; font-size: medium; "><b><span style="letter-spacing: -0.05pt; color: rgb(94, 110, 102); ">CALGARY’S HOUSING MARKET SET TO OUTPACE 2010</span></b></p><div style="margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; font-family: Helvetica; font-size: medium; "><i><span style="color: rgb(94, 110, 102); ">Several Calgary Communities Get a Boost in Sales and Price</span></i></div><div style="margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; vertical-align: middle; font-family: Helvetica; font-size: medium; "> </div><div style="text-align: justify; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; vertical-align: middle; font-family: Helvetica; font-size: medium; "><b><i><span style="letter-spacing: -0.05pt; color: rgb(94, 110, 102); ">Calgary, November 1, 2011</span></i></b><span style="letter-spacing: -0.05pt; color: rgb(94, 110, 102); "> – According to figures released today by CREB® (Calgary Real Estate Board), Calgary residential sales totaled 16,184 after the first 10 months of the year, an increase of eight per cent over last year. </span></div><div style="text-align: justify; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; vertical-align: middle; font-family: Helvetica; font-size: medium; "> </div><div style="text-align: justify; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; vertical-align: middle; font-family: Helvetica; font-size: medium; "><span style="letter-spacing: -0.05pt; color: rgb(94, 110, 102); ">Over 61 per cent of Calgary’s established communities saw increased sales levels compared to last year. Garrison Woods, Collingwood and Mahogany saw the largest sales increase at 170 per cent combined; nearly half of all Calgary communities recorded price increases, with Shaganappi, Chinook Park and Downtown leading the way with a combined average price increase of 55 per cent. </span></div><div style="text-align: justify; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; vertical-align: middle; font-family: Helvetica; font-size: medium; "> </div><p style="font-family: Helvetica; font-size: medium; "></p><table border="0" cellspacing="0" cellpadding="0" width="548" style="margin-top: auto; margin-right: auto; margin-bottom: auto; margin-left: 61.1pt; width: 411.25pt; border-collapse: collapse; "><tbody><tr style="height: 15pt; "><td valign="bottom" width="548" colspan="4" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; padding-left: 5.4pt; width: 411.25pt; padding-right: 5.4pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(216, 216, 216); height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; background-position: initial initial; background-repeat: initial initial; "><div align="center" style="text-align: center; line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><b><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">Top 10 Established Communities</span></b></div></td></tr><tr style="height: 15pt; "><td valign="bottom" width="169" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; padding-left: 5.4pt; width: 126.75pt; padding-right: 5.4pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(216, 216, 216); height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; background-position: initial initial; background-repeat: initial initial; "><div style="line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><b><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">Price Increases</span></b></div></td><td valign="bottom" width="73" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; padding-left: 5.4pt; width: 55pt; padding-right: 5.4pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(216, 216, 216); height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; background-position: initial initial; background-repeat: initial initial; "><div style="line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><b><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">%Change</span></b></div></td><td valign="bottom" width="230" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; padding-left: 5.4pt; width: 172.45pt; padding-right: 5.4pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(216, 216, 216); height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; background-position: initial initial; background-repeat: initial initial; "><div style="line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><b><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">Sale Increases</span></b></div></td><td valign="bottom" width="76" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; padding-left: 5.4pt; width: 57.05pt; padding-right: 5.4pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(216, 216, 216); height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; background-position: initial initial; background-repeat: initial initial; "><div style="line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><b><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">%Change</span></b></div></td></tr><tr style="height: 15pt; "><td valign="bottom" width="169" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 126.75pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div style="line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">Shaganappi-025</span></div></td><td valign="bottom" width="73" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 55pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div align="right" style="text-align: right; line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">139.58%</span></div></td><td valign="bottom" width="230" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 172.45pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div style="line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">Collingwood-418</span></div></td><td valign="bottom" width="76" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 57.05pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div align="right" style="text-align: right; line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">220.00%</span></div></td></tr><tr style="height: 15pt; "><td valign="bottom" width="169" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 126.75pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div style="line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">Chinook Park-117</span></div></td><td valign="bottom" width="73" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 55pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div align="right" style="text-align: right; line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">34.02%</span></div></td><td valign="bottom" width="230" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 172.45pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div style="line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">Mahogany-375</span></div></td><td valign="bottom" width="76" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 57.05pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div align="right" style="text-align: right; line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">150.00%</span></div></td></tr><tr style="height: 15pt; "><td valign="bottom" width="169" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 126.75pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div style="line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">Downtown-001</span></div></td><td valign="bottom" width="73" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 55pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div align="right" style="text-align: right; line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">33.63%</span></div></td><td valign="bottom" width="230" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 172.45pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div style="line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">Mayfair-111</span></div></td><td valign="bottom" width="76" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 57.05pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div align="right" style="text-align: right; line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">100.00%</span></div></td></tr><tr style="height: 15pt; "><td valign="bottom" width="169" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 126.75pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div style="line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">Elboya-103</span></div></td><td valign="bottom" width="73" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 55pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div align="right" style="text-align: right; line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">32.61%</span></div></td><td valign="bottom" width="230" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 172.45pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div style="line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">Roxboro-100</span></div></td><td valign="bottom" width="76" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 57.05pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div align="right" style="text-align: right; line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">100.00%</span></div></td></tr><tr style="height: 15pt; "><td valign="bottom" width="169" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 126.75pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div style="line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">Scarboro-011</span></div></td><td valign="bottom" width="73" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 55pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div align="right" style="text-align: right; line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">31.63%</span></div></td><td valign="bottom" width="230" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 172.45pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div style="line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">Vista Heights-605</span></div></td><td valign="bottom" width="76" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 57.05pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div align="right" style="text-align: right; line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">88.89%</span></div></td></tr><tr style="height: 15pt; "><td valign="bottom" width="169" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 126.75pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div style="line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">Lower Mount Royal-010</span></div></td><td valign="bottom" width="73" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 55pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div align="right" style="text-align: right; line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">28.00%</span></div></td><td valign="bottom" width="230" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 172.45pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div style="line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">Hanson Ranch-517</span></div></td><td valign="bottom" width="76" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 57.05pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div align="right" style="text-align: right; line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">85.00%</span></div></td></tr><tr style="height: 15pt; "><td valign="bottom" width="169" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 126.75pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div style="line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">St Andrews Heights-413</span></div></td><td valign="bottom" width="73" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 55pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div align="right" style="text-align: right; line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">23.22%</span></div></td><td valign="bottom" width="230" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 172.45pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div style="line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">Sage Hill-526</span></div></td><td valign="bottom" width="76" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 57.05pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div align="right" style="text-align: right; line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">84.00%</span></div></td></tr><tr style="height: 15pt; "><td valign="bottom" width="169" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 126.75pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div style="line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">Lakeview Village-033</span></div></td><td valign="bottom" width="73" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 55pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div align="right" style="text-align: right; line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">21.31%</span></div></td><td valign="bottom" width="230" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 172.45pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div style="line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">Shawnee Slopes_Evergreen Est-151</span></div></td><td valign="bottom" width="76" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 57.05pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div align="right" style="text-align: right; line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">79.59%</span></div></td></tr><tr style="height: 15pt; "><td valign="bottom" width="169" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 126.75pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div style="line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">Windsor Park-107</span></div></td><td valign="bottom" width="73" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 55pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div align="right" style="text-align: right; line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">21.14%</span></div></td><td valign="bottom" width="230" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 172.45pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div style="line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">North Haven-500</span></div></td><td valign="bottom" width="76" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 57.05pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div align="right" style="text-align: right; line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">78.57%</span></div></td></tr><tr style="height: 15pt; "><td valign="bottom" width="169" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 126.75pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div style="line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">Rosedale-406</span></div></td><td valign="bottom" width="73" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 55pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div align="right" style="text-align: right; line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">21.06%</span></div></td><td valign="bottom" width="230" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 172.45pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div style="line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">Pump Hill-131</span></div></td><td valign="bottom" width="76" nowrap="nowrap" style="border-bottom-color: rgb(240, 240, 240); border-bottom-width: initial; border-bottom-style: initial; border-left-color: rgb(240, 240, 240); border-left-width: initial; border-left-style: initial; padding-bottom: 0in; background-color: transparent; padding-left: 5.4pt; width: 57.05pt; padding-right: 5.4pt; height: 15pt; border-top-color: rgb(240, 240, 240); border-top-width: initial; border-top-style: initial; border-right-color: rgb(240, 240, 240); border-right-width: initial; border-right-style: initial; padding-top: 0in; "><div align="right" style="text-align: right; line-height: 13px; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0in; "><span style="line-height: 17px; color: rgb(94, 110, 102); font-size: 11pt; ">77.78%</span></div></td></tr></tbody></table><p></p><div style="text-align: justify; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; vertical-align: middle; font-family: Helvetica; font-size: medium; "> </div><div style="text-align: justify; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; vertical-align: middle; font-family: Helvetica; font-size: medium; "> </div><div style="text-align: justify; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; vertical-align: middle; font-family: Helvetica; font-size: medium; "><span style="letter-spacing: -0.05pt; color: rgb(94, 110, 102); ">“A boost in full time jobs throughout the year is gradually translating into improved sales in the real estate sector,” says Sano Stante, president of CREB®. “Consumers are taking advantage of price stability and a healthy variety of selection. While these gains are moderate, we are set to outpace 2010 sales.”</span></div><div style="text-align: justify; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; vertical-align: middle; font-family: Helvetica; font-size: medium; "> </div><div style="text-align: justify; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; vertical-align: middle; font-family: Helvetica; font-size: medium; "><span style="letter-spacing: -0.05pt; color: rgb(94, 110, 102); ">Single family home sales totaled 988 for the month of October 2011, an 11 per cent increase over October 2010, but continue to remain well below historical levels. Year-to-date sales totaled 11,503, a 10 per cent increase over last year. </span></div><div style="text-align: justify; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; vertical-align: middle; font-family: Helvetica; font-size: medium; "> </div><div style="text-align: justify; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; vertical-align: middle; font-family: Helvetica; font-size: medium; "><span style="letter-spacing: -0.05pt; color: rgb(94, 110, 102); ">October listings have edged upwards over last year’s levels, increasing by nearly two per cent, but year-to-date there are six per cent less listings than levels recorded last year. </span></div><div style="text-align: justify; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; vertical-align: middle; font-family: Helvetica; font-size: medium; "> </div><div style="text-align: justify; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; vertical-align: middle; font-family: Helvetica; font-size: medium; "><span style="letter-spacing: -0.05pt; color: rgb(94, 110, 102); ">“Consumers are feeling more confident about the local real estate market,” adds Stante.</span></div><div style="text-align: justify; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; vertical-align: middle; font-family: Helvetica; font-size: medium; "> </div><div style="text-align: justify; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; vertical-align: middle; font-family: Helvetica; font-size: medium; "><span style="letter-spacing: -0.05pt; color: rgb(94, 110, 102); ">The average price of single family homes for the month of October 2011 was $455,399, while the median price was $395,000, an increase of two per cent compared to last year. This is primarily due to the rise in the number of luxury homes sales. Despite the monthly price increase, however, year-to-date figures remained stable at levels comparable to the previous year. </span></div><div style="text-align: justify; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; vertical-align: middle; font-family: Helvetica; font-size: medium; "> </div><div style="text-align: justify; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; vertical-align: middle; font-family: Helvetica; font-size: medium; "><span style="letter-spacing: -0.05pt; color: rgb(94, 110, 102); ">Condominium sales for the first 10 months of the year totaled 4,681, a three per cent rise over the same period last year. Inventory levels remained at 1,935 units, resulting in months of supply pushing above five months. </span></div><div style="text-align: justify; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; vertical-align: middle; font-family: Helvetica; font-size: medium; "> </div><div style="text-align: justify; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; vertical-align: middle; font-family: Helvetica; font-size: medium; "><span style="letter-spacing: -0.05pt; color: rgb(94, 110, 102); ">“The condominium market has significantly tightened compared to last year, however, moving into winter, we expect to see a rise in months of supply,” Stante says.</span></div><div style="text-align: justify; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; vertical-align: middle; font-family: Helvetica; font-size: medium; "> </div><div style="text-align: justify; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; vertical-align: middle; font-family: Helvetica; font-size: medium; "><span style="letter-spacing: -0.05pt; color: rgb(94, 110, 102); ">Condominium year-to-date average and median prices in 2011 were $288,736 and $262,500, respectively, a slight decline over the first 10 months of 2010. The decline is mostly due to increased sales in units priced under $200,000. </span></div><div style="text-align: justify; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; vertical-align: middle; font-family: Helvetica; font-size: medium; "> </div><div style="text-align: justify; margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; vertical-align: middle; font-family: Helvetica; font-size: medium; "><span style="letter-spacing: -0.05pt; color: rgb(94, 110, 102); ">“Overall, the resale housing market continues to show signs of improvement and, with no near term change in interest rates, we can expect the market will continue to see moderate and stable growth throughout the rest of the year,” Stante concludes.</span></div><div style="margin-top: 0in; margin-right: 0in; margin-bottom: 0pt; margin-left: 0.8in; font-family: Helvetica; font-size: medium; "> </div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1148879522873236238.post-91123830294204633872011-06-03T12:03:00.000-06:002011-06-03T12:04:50.684-06:00INNER CITY HOUSING MARKET LEADS IN SALES<div><br /></div><div><span class="Apple-style-span" style=" border-collapse: collapse; font-family:arial, sans-serif;font-size:13px;"><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0.8in; text-align: justify; vertical-align: middle; "><b><i><span style=" letter-spacing: -0.05pt; font-size:10pt;">Calgary, June 1, 2011</span></i></b><span style=" letter-spacing: -0.05pt; font-size:10pt;"> – According to figures released today by <span class="il" style="background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 136); color: rgb(34, 34, 34); background-position: initial initial; background-repeat: initial initial; ">CREB</span>® (Calgary Real Estate Board), year-to-date residential sales in the inner city grew nearly 4 per cent, outperforming the city wide average. City of Calgary residential sales totaled 1,816 in May 2011, a 2 per cent increase in volume over May 2010. However, slower early spring sales resulted in the overall year-to-date <a name="1304c2b79217f4a5__GoBack" style="color: rgb(0, 0, 204); "></a>sales being 3 per cent lower than the 2010 spring market. </span></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0.8in; text-align: justify; vertical-align: middle; "><span style=" letter-spacing: -0.05pt; font-size:10pt;"> </span></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0.8in; text-align: justify; vertical-align: middle; "><span style=" letter-spacing: -0.05pt; font-size:10pt;">As the city grows, improvements in the inner city communities are consistent with changing preferences in lifestyle options.</span></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0.8in; text-align: justify; vertical-align: middle; "><span style=" letter-spacing: -0.05pt; font-size:10pt;"> </span></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0.8in; text-align: justify; vertical-align: middle; "><span style=" letter-spacing: -0.05pt; font-size:10pt;">“Consumers are looking for shorter commute times to work and easy access to a wider range of services provided by these inner city communities,” says Sano Stante, president of <span class="il" style="background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: rgb(255, 255, 136); color: rgb(34, 34, 34); background-position: initial initial; background-repeat: initial initial; ">CREB</span>®.</span></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0.8in; text-align: justify; vertical-align: middle; "><span style=" letter-spacing: -0.05pt; font-size:10pt;"> </span></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0.8in; text-align: justify; vertical-align: middle; "><span style=" letter-spacing: -0.05pt; font-size:10pt;">“Many of these communities are surrounded by abundant amenities such as parks, mature trees, diverse shopping and transit which appeals to a wide range of consumers; furthermore, inner city homes can be considered a stable real estate investment, as there is significant value in land located near the city’s core.”</span></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0.8in; text-align: justify; vertical-align: middle; "><span style=" letter-spacing: -0.05pt; font-size:10pt;"> </span></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0.8in; text-align: justify; vertical-align: middle; "><span style=" letter-spacing: -0.05pt; font-size:10pt;">The average price for single family homes in May 2011 was $489,482 and the median price $423,000, comparable to levels recorded last year. Single family home sales were 1,313 in May 2011, a 5 per cent increase over last year, while 2,552 listings came to market, a 14 per cent decline over the same period last year.</span></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0.8in; text-align: justify; vertical-align: middle; "><span style=" letter-spacing: -0.05pt; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background- background-position: initial initial; background-repeat: initial initial; font-size:10pt;color:lime;"> </span></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0.8in; text-align: justify; vertical-align: middle; "><span style=" letter-spacing: -0.05pt; font-size:10pt;">The decline in listings has caused inventory levels to come down to 4,616 units, an 18 per cent decline from last year. Moderate sales and a reduction in inventory have resulted in a decline in months of supply compared to May 2010.</span></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0.8in; text-align: justify; vertical-align: middle; "><span style=" letter-spacing: -0.05pt; font-size:10pt;"> </span></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0.8in; text-align: justify; vertical-align: middle; "><span style=" letter-spacing: -0.05pt; font-size:10pt;">To date, the single family market has fared better than the condominium market, as prices have come down from peak levels recorded in 2007 providing individuals more options with regard to home ownership, noted Stante. After the first five months of the year, single family home sales were 5,835 units, consistent with sales levels during the same time frame last year. </span></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0.8in; text-align: justify; vertical-align: middle; "><span style=" letter-spacing: -0.05pt; font-size:10pt;"> </span></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0.8in; "><span style=" letter-spacing: -0.05pt; font-size:10pt;">“With just under four months supply, we expect single family home prices to remain stable in the coming months,” says Stante. </span><span style=" ;font-size:10pt;">“<span style="letter-spacing: -0.05pt; ">Provided that interest rates remain moderated, we are positive about the near term stability and recovery in the Calgary real estate market.”</span></span></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0.8in; text-align: justify; vertical-align: middle; "><span style=" letter-spacing: -0.05pt; font-size:10pt;"> </span></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0.8in; text-align: justify; vertical-align: middle; "><span style=" letter-spacing: -0.05pt; font-size:10pt;">“While condominiums continue to experience some decline in sales and prices, the rate of decline seems to be easing, indicating signs of improvement in this market” adds Stante. </span></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0.8in; text-align: justify; vertical-align: middle; "><span style=" letter-spacing: -0.05pt; font-size:10pt;"> </span></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0.8in; text-align: justify; vertical-align: middle; "><span style=" letter-spacing: -0.05pt; font-size:10pt;">The inventory of condominiums continues to remain higher than average, but has declined by 21 per cent from levels recorded in May 2010.</span></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0.8in; text-align: justify; vertical-align: middle; "><span style=" letter-spacing: -0.05pt; font-size:10pt;"> </span></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0.8in; text-align: justify; vertical-align: middle; "><span style=" letter-spacing: -0.05pt; font-size:10pt;">Condominium sales were 503 for May 2011, 3 per cent lower than last year’s figures. Year-to-date condominium sales are 11 per cent lower than last year’s levels, however, listings have declined by 19 per cent as well over the same time frame, placing downward pressure on inventories. </span></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0.8in; text-align: justify; vertical-align: middle; "><span style=" letter-spacing: -0.05pt; font-size:10pt;"> </span></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0.8in; text-align: justify; vertical-align: middle; "><span style=" letter-spacing: -0.05pt; font-size:10pt;">“Full time employment growth has been sluggish in Calgary, with only notable improvements occurring in April,” says Stante. “All indications point to the trend that as full-time employment growth takes hold in the later portion of the year, so too will improvements in migration, ultimately translating into improvements in the housing market.</span></p></span></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1148879522873236238.post-88138964334793605962011-05-20T12:07:00.001-06:002011-05-20T12:09:33.502-06:00Condition of Property at Possession<span class="Apple-style-span" style="font-family: Arial; font-size: 14px; "><p>One of the most common and frustrating issues for both real estate industry members and lawyers in closing residential real estate transactions is a dispute over the condition of the property on Completion Day. Rarely are buyers entirely happy with the condition and cleanliness of the property when they take possession. While occasionally their concerns are valid, in most cases they are not. In any event, there is not much that lawyers can do to assist buyers in this regard. This column will explain why the Purchase Contract is worded the way it is and what buyers’ representatives can do to protect their clients where specific concerns are identified when writing up the offer.</p><div style="margin-top: 0cm; margin-right: 0cm; margin-bottom: 10pt; margin-left: 0cm; ">The condition of the property is addressed in clause 4.2 of the Residential Real Estate Purchase Contract (the “Contract”) as follows;</div><div style="margin-top: 0cm; margin-right: 0cm; margin-bottom: 10pt; margin-left: 0cm; ">“When the Buyer obtains possession, the Property will be in substantially the same condition as it was in when this Contract was accepted.”</div><div style="margin-top: 0cm; margin-right: 0cm; margin-bottom: 10pt; margin-left: 0cm; ">In addition, clauses 6.1(b) and 6.2 of the Contract require that when possession is granted, all included Attached Goods (fixtures) and Unattached Goods (chattels) be “in normal working order”.</div><div style="margin-top: 0cm; margin-right: 0cm; margin-bottom: 10pt; margin-left: 0cm; "><strong>So what does this really mean?</strong></div><div style="margin-top: 0cm; margin-right: 0cm; margin-bottom: 10pt; margin-left: 0cm; ">In general, and unless additional terms are inserted in clause 7.6 of the Contract, it means that with the exception of appliances (which have to work), the seller doesn’t have to clean up or repair the property in any way for the buyer. In fact, the words “substantially same condition” imply that some deterioration resulting from normal wear and tear, and the scrapes and blemishes resulting from the moving out process, are acceptable. The seller is certainly not required to paint walls, clean carpets or fix small holes in walls where pictures have been removed.</div><div style="margin-top: 0cm; margin-right: 0cm; margin-bottom: 10pt; margin-left: 0cm; ">Even if, contrary to the terms of the Contract, an appliance doesn’t work or more significant damage (such as a broken window) constituting a breach of the “substantially the same condition” obligation is discovered on possession day, the buyer’s lawyer may not be able to refuse to close or otherwise secure compensation for the buyer. In general, the buyer is only entitled to refuse to close if the damage to the property is so major that it would constitute a “material” breach of the agreement. In this case, it is important that the buyer or the buyer’s representative bring these issues to the attention of the buyer’s lawyer quickly. The buyer’s lawyer will communicate the matter to the seller’s lawyer, which will result in one of two possible outcomes:</div><ol><li>The seller’s lawyer may be able to convince the seller to offer some compensation to the buyer, repair the problem or agree to a monetary holdback until the problem is resolved; or</li><li>The seller will refuse to take responsibility for the problem, but at least it will be documented that the problem existed at the time of possession which will help the buyers if they choose to prosecute a small claims action for recovery of damages.</li></ol><div style="margin-top: 0cm; margin-right: 0cm; margin-bottom: 10pt; margin-left: 0cm; ">Because the problem of not being able to force the issue when the condition of the property is not “substantially the same”, industry members sometimes suggest that a default holdback provision be incorporated in the standard Contract to routinely allow buyers to withhold a predetermined sum (such as $1,000 for example) until the condition of the property is found to be satisfactory. This is not, unfortunately, possible on a practical level. The inevitable result of this provision would be that, rightly or wrongly, buyers would take advantage of the holdback entitlement in almost all cases. Sellers would then have to accept the loss or be forced to sue buyers to receive their full sale proceeds.</div><div style="margin-top: 0cm; margin-right: 0cm; margin-bottom: 10pt; margin-left: 0cm; ">Building an early walkthrough or condition inspection provision into the contract is also not a practical solution to the problem. Since damage to the property is only likely to occur when the seller is moving out or only apparent after the furniture is removed from the premises, a walkthrough conducted prior to the seller’s move is virtually useless. It should be mentioned that unless it is specifically written into the Contract, the buyer is not entitled to insist on access to the property in the period between the removal of conditions and possession day.</div><div style="margin-top: 0cm; margin-right: 0cm; margin-bottom: 10pt; margin-left: 0cm; ">Although the current Contract could, as a result, appear to be biased in favour of sellers receiving their money from the sale, I always point out to unhappy buyers that the same Contract will protect them for their sale proceeds when it comes time to sell their home in the future.</div><div style="margin-top: 0cm; margin-right: 0cm; margin-bottom: 10pt; margin-left: 0cm; ">In cases where a buyer wants the seller to carry out a specific task prior to possession, such as the shampooing of carpets, the removal of car parts from the backyard, or a specific repair to the property, the buyer’s representative has to insert specific additional terms into the Contract in clause 7.6. To be effective, such terms should contain: a firm deadline; a monetary holdback provision if the work is to be completed post closing or an inspection provision if the work is to be done prior to closing; and a term setting out the consequences if the work is not carried out as required.<br /></div><div style="margin-top: 0cm; margin-right: 0cm; margin-bottom: 10pt; margin-left: 0cm; "><br /></div><div style="margin-top: 0cm; margin-right: 0cm; margin-bottom: 10pt; margin-left: 0cm; ">Courtesy of AREA</div></span>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1148879522873236238.post-53113975897679184792011-05-04T13:01:00.005-06:002011-05-04T13:07:50.656-06:00Big IdeasWhether you are looking to sell right away or in a few years, there are several sound renovation investments that are worth the money, according to HGTV real estate expert Heather Unger, a Sales Associate with RE/MAX Central Realty in Lake Mary, Fla.<br /><br />Here are some tips for potential sellers:<br /><br /><span style="font-weight:bold;">Rev up curb appea</span>l – A green lawn and fresh exterior paint are sure ways to attract potential buyers. Plant colorful flowers or hang flower boxes from windows, repair cracked walkways and choose a neutral, pleasing exterior color to maximize your home’s appeal.<br /><br /><span style="font-weight:bold;">Upgrade the kitchen</span> – This is where you’ll get the best return on your investment. Buyers want granite countertops, stainless steel appliances, modern cabinets and hardware, and updated light fixtures. Think IKEA kitchen: modern and functional. For the average kitchen in a 2,000-square-foot home, you’ll spend $8,000 or more for basic upgrades.<br /><br /><span style="font-weight:bold;">Redo the bathroom</span>s – After kitchens, bathrooms are the next places to get the best bang for your buck. Granite countertops, modern faucets and light fixtures and tile floors are popular with buyers. The more you can do yourself, the more money you’ll save. Expect to spend about $3,000 or more. You can save even more by buying store floor models for sinks and vanities, or going to granite bone yards for materials.<br /><br /><span style="font-weight:bold;">Add space</span> – If you have the money, consider adding square footage to your home by finishing your basement, expanding the master closet or knocking down some walls to create a more open floor plan.<br /><br /><div><br /></div><div><b>Economical options</b></div><div><b><br /></b>If you don’t have time or a ton of money for major renovations, don’t worry, says Laura Smith, a Sales Associate with RE/MAX First in Baton Rouge, La. A clean, clutter-free home goes a long way for many buyers, says Smith, who has appeared on HGTV’s "Bang for Your Buck."<br /><br />Here are Smith’s tips:<br /><br /><span style="font-weight:bold;">Make your home smell incredible</span> – Get your air-conditioning unit professionally serviced and cleaned. Most companies charge under $150, and it goes a long way in removing household odors and allergens. Also, use plug-in fresheners and fabric deodorizing sprays.<br /><br /><span style="font-weight:bold;">Steam-clean the carpets</span> – Instead of replacing carpets, call a professional to have them steam-cleaned and watch the transformation! You will be delighted to see that steam cleaning the carpets (price depends on carpet area) is money well spent.<br /><br /><span style="font-weight:bold;">Remove clutter</span> – Check your closets and donate old clothes, shoes or other items that you haven’t used in the past year. Buyers want to see storage space; this goes for the other closets in your home, as well as garages. If you’re having showings, remove all personal photos and clear off all appliances and knickknacks from countertops and display shelving.<br /><br /><span style="font-weight:bold;">Create an outdoor living space</span> – Adding a sense of comfort to your patio, deck or backyard adds value to your home. Stage your patio or deck with a table and chairs, as well as an outdoor rug, lively plants, some colorful flowers or a small fountain. Get rid of unsightly weeds and keep the lawn mowed and presentable.<br /><br />Good luck,</div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1148879522873236238.post-51455932576504149382011-04-22T22:49:00.002-06:002011-04-22T22:57:46.219-06:00Top 7 Landscaping Tips to Sell your HomeIts that time of year again. Spring is in the air and all the long awaited listings are hitting the market. If you are thinking about selling your home this spring, please read on.<br /><br />Before buyers will take the time to look inside your house they need to be impressed by what they see on the outside. If you live in a condominium ownership community or can't control your landscaping then you will need to work on sprucing up the inside to make your home stand out. For everyone else, read on to see how you can dazzle buyers with nature.<br /><br /><span style="font-weight:bold;">Add or touch up the walkway to your front door.</span><br /><br />If you have a pre-existing walkway leading to your front door then you're already one step ahead of competing homes. Fill in any cracks, popping up bricks and other potential nuisances that could cause buyers to walk away. Adding a walkway is a great way to give your front yard some structure and the types of materials you can use are endless. Don't get too crazy spending money though since the return on investment for a walkway is limited.<br /><br />P<span style="font-weight:bold;">lant flowers along both sides of your walkway.</span><br /><br />Just as important as having a path to your home is a well manicured set of flowers leading the way. Flowers not only pack a colorful punch but they'll show home buyers that you care about your home by remembering the little things.<br /><br /><span style="font-weight:bold;">Remove seasonal signage and decoration.</span><br /><br />When you put your home on the market you want to appeal to buyers of all styles. Part of this is removing personalized decorations from the front of your home. Yes we all love jolly Saint Nick, but he is cluttering up the front lawn.<br /><br /><span style="font-weight:bold;">Add flower boxes to your windows or deck.</span><br /><br />Plants tend to evoke the idea of life and growth so strategically adding flower boxes to your deck, balcony or windows will pull that positive energy into the space.<br /><br /><span style="font-weight:bold;">Re-shape aging stone walls.</span><br /><br />After 10-15 years many retaining walls tend to develop sink spots where the wall has loosened. Check up on all of your retaining walls and reshape them to make your landscaping look like new.<br /><br />A<span style="font-weight:bold;">dd items with character to your landscaping.</span><br /><br />Landscaping doesn't just have to be flowers and green plants! Find an old wagon wheel, nostalgic signage or bird fountain and add it to your greenery. Bird fountains are especially useful because they attract beautiful birds of all different types. But keep in mind there is such a thing as too much character.<br /><br />Trim trees and tall plants to prevent excessive window blocking.<br /><br />Privacy is very desirable and so we sometimes let trees and plants overgrow in front of a commonly used room in the house to gain more privacy. Unfortunately buyers will find overgrown plants to be a sign of deferred maintenance around the house. In today's market a sign of deferred maintenance can be a kiss of death for the sale of your home.<br /><br />Courtesy of <a href="http://top7business.com/?Top-7-Landscaping-Tips-to-Sell-Your-Home-Faster&id=11576">Joshua Ferris.</a>Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-1148879522873236238.post-84942238624281083782011-04-19T00:02:00.003-06:002011-04-19T10:41:16.882-06:00Secondary suites allowed in all new Calgary communities.A motion passed by council Monday means that homeowners will be able to purchase new residences already knowing their neighbourhood could be built with secondary suites.<br /><br />Existing homes and zoning that do not allow secondary suites will remain untouched.<br /><br />Ald. Peter Demong was applauded by Mayor Naheed Nenshi for putting forward this compromise to the previous and contentious proposal to legalize secondary suites in all residential zones.<br /><br />Demong did not believe the Nenshi’s plan for citywide suite reform was fair because many homeowners had bought their residences on the grounds that their community didn’t have secondary suites.<br /><br />While some aldermen believe this decision was a step in the wrong direction because it could reduce property value and the number of multi-family dwellings in Calgary, David Watson, the city’s general manager of planning, said this change will give homebuyers more options.<br /><br />Ald. Druh Farrell agrees, noting she doesn’t see the allowance of secondary suites as a limitation.<br /><br />“It just offers people some opportunity when they’re trying to get into the housing market,”said Farrell. “Very few of these are built. They’re built on an opportunity basis when the homeowner sees an advantage.”<br /><br />Farrell added that a range of groups from the Chamber of Commerce to the developers’ association have actually stepped forward and urged secondary suites be legalized in all city residential zones.<br /><br />“We received a joint submission from Urban Development Institute and the (Canadian) Home Builders Association on February 18, exactly two months ago, stating that they believed that Calgarians need access to safe, affordable housing,” said Nenshi. “They believe in rental accommodation and they strongly believe in making every single house in the city have secondary suites.”<br /><br /><br /><br />Read more @ <a href="http://www.calgaryherald.com/business/Secondary+suites+will+allowed+Calgary+communities/4636726/story.html">Calgary Herald</a>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1148879522873236238.post-6779189388545287062011-04-14T21:47:00.002-06:002011-04-14T21:50:26.933-06:00Federal leaders not addressing Realtors needs.By Shane Buckingham <br />CRE Senior Staff Writer<br /><br />Realtors’ federal lobbying efforts came to an abrupt stop when the federal election was called on March 26, and according to industry insiders so did the parties’ focus on Realtors’ concerns. <br /><br />Three key issues Realtors have been fighting for, Manitoba Real Estate Association (MREA) President Lorne Weiss said, are getting a capital-gains-tax rollover for commercial properties, raising the amount first-time homebuyers can borrow from their Registered Retirement Savings Plans (RRSPs) and requiring lenders to provide better disclosure to homeowners about the costs of ending a mortgage early.<br /><br />But so far all three of those issues haven’t gotten much play among federal politicians. <br /><br />“We think the federal parties should be addressing our issues because they aren’t just specific to our industry,” Weiss told CRE Online. “Something like giving young people the ability to borrow more from their RRSPs to buy their first home doesn’t just apply to the real estate industry; it really applies to the economy as a whole.”<br /><br />In 2009, the federal government adopted a policy proposal by the Canadian Real Estate Association (CREA) to increase the limit first-time homebuyers can withdraw from their RRSPs to purchase a property from $20,000 to $25,000. Now, Weiss said the organization wants the federal government to index that amount to inflation. <br /><br />“Rather than having to go back to the federal government every four or five years, we would like to put a mechanism in place to have the amount indexed to the rate of inflation, just in the same way a pension is. We feel that would make RRSPs a more effective tool for first-time homebuyers,” said Weiss, the former chair of the CREA Federal Affairs Committee.<br /><br />Give investors a break<br /><br />Next, Weiss said the federal government should give property investors a year to reinvest their capital gains into another property before it’s taxed. <br /><br />“We think that allowing a capital gains rollover for commercial properties will give investors more incentive to provide affordable rental units, something this country sorely needs. It will also allow more ma-and-pop-type investors to expand their portfolios,” he said. “And the money will be eventually taxed once investors cash out of their properties.”<br /><br />Lastly, he said there needs to be better disclosure explaining the penalties homeowners will incur if they end their mortgage early. <br /><br />Now, since there is no disclosure requirement many homeowners have been blindsided with bills in excess of $10,000 to break their mortgage. And how the banks actually arrive at the amount of the penalty has many Realtors confused, he added. <br /><br />“When people go to sell their home and buy another one they find out the penalties for early discharge of their mortgage are humongous. So what we’d like to see is greater disclosure on mortgage documents, clearly stating what the penalties will be for early discharge of a mortgage and how those penalties are determined.”<br /><br />As Realtors prepare to go to Parliament Hill to discuss policy on May 8 to 10, their lobbying efforts have been left in limbo since the fate of the current government is in question. <br /><br />Pierre Leduc, a spokesperson for CREA, said that the organization was caught off guard like the rest of the Canadians when the election was called. Since the Realtors’ event was already scheduled, he said the organization chose to go ahead with it, but is still determining the nature of the event.<br /><br /> <br /> <br />Complete article <a href="http://www.canadianrealestatemagazine.ca/news/76362/details.aspx?utm_medium=email&utm_source=MyNewsletterBuilder&utm_content=187549505&utm_campaign=Federal+leaders+not+addressing+Realtors+needs+1410827277&utm_term=Federal+leaders+not+addressing+Realtors+needs+MREA+president">here</a>.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1148879522873236238.post-74456086789564038512011-04-01T15:39:00.003-06:002011-04-01T15:45:41.888-06:00Calgary Real Estate 1st Quarter 2011 UpdateCalgary, April 1, 2011 – According to figures released today by CREB® (Calgary Real Estate Board), Calgary Metro sales remained at levels similar to the first quarter of 2010. Improved sales in the single family market have largely been offset by declining sales in the condominium market, indicating that the gradual recovery will continue to be driven by the single family market for the better portion of the year.<br /><br /> Single family home sales in the first quarter of 2011 were 3,309, a 4 per cent increase over the first quarter of 2010. The combination of stable home prices, low interest rates and year-over-year improvements in employment are the primary factors fueling the growth. <br /><br /> March 2011 single family home sales totaled 1,355, a 3 per cent decrease over March 2010 figures. The decline in sales was accompanied by a 19 per cent year-over-year decline in new listings. As a result, inventory remained at three months, which indicates a balanced single family market. <br /><br /> The NW sector boasted the largest gains in single family home sales in the first quarter of 2011 with 1,198 sales, a 13 per cent increase over the first quarter of 2010. Sales in the SE posted quarterly gains of 5 per cent, while the SW remained relatively unchanged and NE sales declined by 9 per cent. <br /><br /> “Improved affordability levels in single family homes have offered some individuals the opportunity to purchase homes in areas of the city that were once unattainable,” says Sano Stante, president of CREB®. <br /><br /> The SW sector recorded the highest single family average home price in the first quarter of 2011 at $570,748, while average home prices in the NW and SE were $464,990 and $422,821 respectively. The NE sector continues to remain the most affordable, with average prices hovering around $282,713. <br /><br /> “Average single family home prices remain relatively stable compared to the first quarter of last year, as people continue to purchase more homes at the lower end of the price spectrum,” says Stante. “The rise in sales has been primarily offset by a corresponding increase in listings, resulting in stable average prices.”<br /><br /> Calgary Metro average price of single family homes in March 2011 was $462,947, a 2 per cent decline from March 2010, and virtually unchanged from the previous month. Meanwhile, the median price declined by 5 per cent compared to March 2010. <br /><br /> Quarterly condominium sales continue to fall over levels recorded in the previous year, down by 11 per cent compared to the first quarter of 2010, while quarterly average prices are down by 1 per cent. It is important to note the quarterly average price of condominiums is skewed upwards for 2011 due to the sale of a $4.1 million condominium. If we remove this sale, quarterly average price would have declined by over 2 per cent. <br /><br /> The average price of condominiums in March 2011 was $280,781, while the median price was $256,000, a respected 5 per cent drop and 7 per cent, respectively, from levels recorded in March 2010. <br /><br /> Improved selection of affordable single family homes and higher inventory levels of new condominiums have reduced the demand for resale of condominiums. It is anticipated that demand should gradually recover in the latter half of the year, as Calgary’s economic recovery continues to take hold. “This provides a window of opportunity for condo buyers early in the year to discover a large selection of available product at affordable prices,” says Stante.<br /><br /> Calgary’s labour market has shown some recent improvements, however, it is still in the early stages of recovery as job growth remains below the 5-year average. Improvements in the energy sector are anticipated to show stronger job growth in the second half of the year, providing the foundation for continued recovery in the housing market.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1148879522873236238.post-87144844906096359812011-03-31T13:46:00.003-06:002011-03-31T14:02:31.775-06:00DundeeWealth Economic ForecastThe march edition of the Economic Monitor by DundeeWealth has been released. Interesting read as it tries to forecast both short and long term economic implications of the situations in Libya and Japan. Below are excerpts from the report as it relates to Real Estate.<div><br /></div><div><p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 11.0px Arial; color:#221e20;"><span class="Apple-style-span" style="font-size:100%;"><span class="Apple-style-span" style="font-size:13px;">The BANK OF CANADA is expected to remain on hold over the summer, raising rates again in September, December and March 2012 – by 25 basis points each time. While economic growth is expected to accelerate (a spillover from accelerating US growth), domestic growth is likely to be only modest, with high consumer indebtedness and the recent tightening of mortgage regulations curbing domestic demand somewhat. Domestic credit growth has been flat (apart from home mortgages) and inflation has been lower than expected, notwithstanding fairly strong wage growth. Core inflation fell to just 0.9% in February, well below the Bank’s 2.0% target. The core rate is not expected to exceed 1.5% until near year-end. The Bank is likely to be wary of increasing interest rates before the Fed does as it could cause a further rise in the Canadian dollar, which would further dampen domestic growth prospects.</span></span></p><p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 11.0px Arial; color:#221e20;"><span class="Apple-style-span" style="font-size:100%;"><span class="Apple-style-span" style="font-size:13px;"><br /></span></span></p><p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 11.0px Arial; color:#221e20;"><span class="Apple-style-span" style="font-size:100%;"><span class="Apple-style-span" style="font-size:13px;"></span></span></p><span class="Apple-style-span" style="font-size:100%;"><p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 11.0px Arial; color:#221e20;"><span class="Apple-style-span" style="font-size:100%;"><span class="Apple-style-span" style="font-size:13px;">The FED Funds target rate is likely to remain in the 0% to 0.25% range for the remainder of this year, though the Fed may encourage a rise to the top of that range toward September whilst it contemplates the prospects for growth and employment, and inflation into 2012. At this point we have the Fed raising rates by 25 points in January and again</span></span></p> <p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 11.0px Arial; color:#221e20;"><span class="Apple-style-span" style="font-size:100%;"><span class="Apple-style-span" style="font-size:13px;">in April 2012. The Fed is expected to end its current round of quantitative easing as scheduled in June, even though the pace of economic growth is improving and is set to benefit further as a result of the 2011 payroll tax holiday and a new measure to allow much faster depreciation this year. Despite the improving growth picture, unemployment remains high and core inflation very low, although rising energy and food prices have already pushed headline CPI up to 2.1%.</span></span></p></span><p></p><p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 11.0px Arial; color:#221e20;"><span class="Apple-style-span" style="font-size:100%;"><span class="Apple-style-span" style=" ;font-size:13px;"><br /></span></span></p><p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 11.0px Arial; color:#221e20;"><span class="Apple-style-span" style="font-size:100%;"><span class="Apple-style-span" style="font-size:13px;"></span></span></p><span class="Apple-style-span" style="font-size:100%;"><p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 11.0px Arial; color:#221e20;"><span class="Apple-style-span" style="font-size:100%;"><span class="Apple-style-span" style="font-size:13px;">The CANADIAN DOLLAR is expected to trend relatively flat, somewhat above parity, during the next six months or so, then move higher. While the Fed’s quantitative easing program could help boost commodity prices and the loonie further in the near term, </span></span><span class="Apple-style-span" style=" ;font-size:13px;">a modest slowdown in emerging market economic growth is likely to serve as a counterweight. Mid-east unrest is a wild card. Extended political troubles in Libya and elsewhere could add to upward pressure </span><span class="Apple-style-span" style=" ;font-size:13px;">on oil prices and also the loonie, whereas an early resolution could see oil prices and the Canadian dollar both fall. In any event, periodic commodity price corrections are expected in the first half of the forecast.</span></p><p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 11.0px Arial; color:#221e20;"><span class="Apple-style-span" style=" ;font-size:13px;"><br /></span></p><p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 11.0px Arial; color:#221e20;"><span class="Apple-style-span" style=" ;font-size:13px;">The complete report can be found <a href="http://www.dundeewealthus.com/en/Institutional/Economic-Market-Commentary/Index.asp">here</a></span></p><p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 11.0px Arial; color:#221e20;"><span class="Apple-style-span" style=" ;font-size:13px;"><br /></span></p><p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 11.0px Arial; color:#221e20;"><span class="Apple-style-span" style=" ;font-size:13px;"><br /></span></p></span><p></p><p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 11.0px Arial; color:#221e20;"><span class="Apple-style-span" style="font-size:100%;"><span class="Apple-style-span" style=" ;font-size:13px;"><br /></span></span></p><p style="margin: 0.0px 0.0px 0.0px 0.0px; font: 11.0px Arial; color:#221e20;"><span class="Apple-style-span" style="font-size:100%;"><span class="Apple-style-span" style="font-size:13px;"><br /></span></span></p></div>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1148879522873236238.post-40168121093833615192011-03-25T00:35:00.003-06:002011-03-25T00:45:08.940-06:00Spring Home Maintenance Checklist<strong>Spring</strong><br /><br /><ul><li>After consulting your hot water tank owner’s manual, carefully test the temperature<br />and pressure relief valve to ensure it is not stuck. Caution: This test may release hot<br />water that can cause burns.</li><li>Check and clean or replace furnace air filters each month during the heating<br />season. </li><li>Ventilation system, such as heat recovery ventilator, filters should be checked<br />every two months. </li><li>Have fireplace or wood stove and chimney cleaned and serviced as needed. </li><li>Shut down, drain and clean furnace humidifier, and close the furnace humidifier damper on units with central air conditioning. </li><li>Switch on power to air conditioning and check system. Have it serviced every two or<br />three years. </li><li>Clean or replace air-conditioning filter, if applicable. </li><li>Check dehumidifier and drain — clean if necessary. </li><li>Turn OFF gas furnace and fireplace pilot lights where possible. </li><li>Have well water tested for quality. It is recommended that you test for bacteria every<br />six months. </li><li>Check smoke, carbon monoxide and security alarms, and replace batteries. </li><li>Clean windows, screens and hardware, and replace storm windows with screens. Check screens first and repair or replace if needed. </li><li>Open valve to outside hose connection after all danger of frost has passed. </li><li>Examine the foundation walls for cracks, leaks or signs of moisture, and repair as<br />required. </li><li>Ensure sump pump is operating properly before the spring thaw sets in. Ensure<br />discharge pipe is connected and allows water to drain away from the foundation. </li><li>Re-level any exterior steps or decks that moved as a result of frost or settling. </li><li>Check for and seal off any holes in exterior cladding that could be an entry point for<br />small pests, such as bats and squirrels. </li><li>Clear all drainage ditches and culverts of debris. </li><li>Repair and paint fences as necessary — allow wood fences to dry adequately<br />before tackling this task. </li><li>Undertake spring landscape maintenance and, if necessary, fertilize young trees </li></ul><p></p><p>Good Luck</p>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1148879522873236238.post-54806014108002725812011-03-13T23:07:00.000-06:002011-03-13T23:09:08.847-06:00Calgary Real Estate Market Forecast & PreditionAccording to many real estate experts, the Canadian housing market is expected to stabilize in 2011 returning to more normal long-term growth patterns after a decade-long bull run.<br /><br />The housing sector has avoided two extreme bubble-and-crash scenarios over the past three years when resale prices dropped sharply in 2008, then quickly rebounded as low mortgage rates and lower prices supported the turnaround.<br /><br />Record low interest rates fuelled a home buying spree in 2009 that helped pull the Canadian economy out of recession and pushed home sales back to record levels. The market cooled rapidly over the summer of 2010 as the Bank of Canada began hiking interest rates, though recent data have indicated the market may be stabilizing.<br /><br />In 2011, interest rates are expected to hike further as the economy improves. While still at historical lows, any hike in interest rates have big effects on mortgage rates. If interest rates are raised too quickly, this will further dampen real estate prices. On the other hand, if the government decides to lower the rates once again, as unlikely as this may seem, then home sales might surge slightly.<br /><br />Government and institutional lending policies will also affect real estate prices. As banks and governmental policies become increasingly strict, more people will be turned down for mortgages. At the very least these potential home buyers will need to choose from more modest homes if their mortgage is declined.<br /><br />In 2011, Canada will experience an overall decline of 0.9% in home prices. Not all provinces will feel the effects of fluctuating real estate prices equally. Some provinces will have a more profound move in housing prices than others.<br /><br />While real estate prices might remain fairly stable, buying activity is expected to slow down significantly. The Canadian Real Estate Association expects a 7.3% decline in home sales. This means that homeowners in a panic to sell may have to drop their prices substantially in order to liquidate. Others may need to wait longer than in previous years to sell.<br /><br />The drop-off in home sales comes from an anticipated slowing of economic growth along with a reduction in consumer spending. Less free floating capital means fewer large purchases. Ample inventory levels, steady demand, and moderate growth, both in terms of sales and prices, will characterize the market in 2011.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1148879522873236238.post-24971559501836241702011-01-18T12:35:00.003-07:002011-01-18T12:44:49.632-07:00Federal Government changes to Mortgage Guidelines<span class="Apple-style-span" style=" ;font-family:Helvetica;font-size:medium;"><a name="LETTER.BLOCK6"><table border="0" width="100%" tabindex="0" cellpadding="5" cellspacing="0" id="content_LETTER.BLOCK6" style="margin-bottom: 6px; "><tbody><tr><td valign="top" width="100%" rowspan="1" colspan="1" align="left" style="color: rgb(51, 51, 51); text-align: left; font-family:'Trebuchet MS', Verdana, Helvetica, sans-serif;font-size:10pt;"><span style=" color: rgb(3, 3, 3); font-family:Verdana;font-size:10pt;"><p style="margin-top: 0px; margin-bottom: 0px; ">It looks as though the federal government has decided to tighten Canadian mortgage guidelines once again. Here are the key changes:</p><p style="margin-top: 0px; margin-bottom: 0px; "> </p><p style="margin-top: 0px; margin-bottom: 0px; "> </p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"><strong>· Mortgages with amortization periods longer than 30 years will no longer qualify for government-backed mortgage insurance, which is required for buyers with less than a 20% down payment on a home. The previous limit was 35 years.</strong></span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"><strong> </strong></span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"><strong>· Maximum amount Canadians can borrow against the value of their homes, lowered to 85% from 90% on a refinancing</strong></span></p><p style="margin-top: 0px; margin-bottom: 0px; "></p><p style="margin-top: 0px; margin-bottom: 0px; "> </p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"><strong>· Federal government backing for home equity lines of credit, or so-called HELOCs, is removed</strong></span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"><strong> </strong></span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"><strong>· Adjustments on amortization and refinancing limits coming into force on March 18</strong></span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"><strong> </strong></span></p><p style="margin-top: 0px; margin-bottom: 0px; "><strong><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;">· Government backing on HELOCs will be removed as of </span><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;">April</span><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"> 18</span></strong></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"><br /><br /></span></p><p style="margin-top: 0px; margin-bottom: 0px; ">Here is the related article taken from Sunday's Financial Post: </p><p style="margin-top: 0px; margin-bottom: 0px; "> </p><p style="margin-top: 0px; margin-bottom: 0px; "> </p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;">The federal Conservative government is expected on Monday to introduce new rules aimed at toughening up mortgage lending in an effort to curb further growth in record household debt levels.</span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"> </span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"><br /></span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;">The key change Finance Minister Jim Flaherty is likely to unveil is a cut in the maximum amortization period, to 30 years from 35 years. </span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span class="Apple-style-span" style="color: rgb(0, 0, 0); font-family:Helvetica;font-size:16px;"><a name="LETTER.BLOCK6"><span class="Apple-style-span" style="font-size:-webkit-xxx-large;"><br /></span></a></span></p><a name="LETTER.BLOCK6"></a><div style="text-align: left;"><a name="LETTER.BLOCK6"><table border="0" width="100%" tabindex="0" cellpadding="5" cellspacing="0" id="content_LETTER.BLOCK6" style="margin-bottom: 6px; display: inline !important; "><tbody style="display: inline !important; "><tr style="display: inline !important; "><td valign="top" width="100%" rowspan="1" colspan="1" align="left" style="color: rgb(51, 51, 51); text-align: left; display: inline !important; font-family:'Trebuchet MS', Verdana, Helvetica, sans-serif;font-size:10pt;"><span style=" color: rgb(3, 3, 3); font-family:Verdana;font-size:10pt;"><p style="margin-top: 0px; margin-bottom: 0px; display: inline !important; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;">Mortgages with amortization periods longer than 30 years will no longer qualify for government-backed mortgage insurance, which is required for buyers with less than a 20% down payment on a home.</span></p></span></td></tr></tbody></table></a></div><p></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"> </span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span class="Apple-style-span" style="color: rgb(0, 0, 0); font-family:Helvetica;font-size:16px;"><a name="LETTER.BLOCK6"><table border="0" width="100%" tabindex="0" cellpadding="5" cellspacing="0" id="content_LETTER.BLOCK6" style="margin-bottom: 6px; display: inline !important; "><tbody style="display: inline !important; "><tr style="display: inline !important; "><td valign="top" width="100%" rowspan="1" colspan="1" align="left" style="color: rgb(51, 51, 51); text-align: left; display: inline !important; font-family:'Trebuchet MS', Verdana, Helvetica, sans-serif;font-size:10pt;"><span style=" color: rgb(3, 3, 3); font-family:Verdana;font-size:10pt;"><p style="margin-top: 0px; margin-bottom: 0px; display: inline !important; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;">Government sources also told the National Post Mr. Flaherty is expected to lower the maximum amount Canadians can borrow against the value of their homes, to 85% from 90%, and remove federal government backing of home equity lines of credit, or so-called HELOCs.</span></p></span></td></tr></tbody></table></a></span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"> </span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"><br /></span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;">The sources, who spoke on condition of anonymity, add the minimum down payment, at 5%, will remain as is. Further, there will not unveil any plan to target condominium purchases by requiring monthly condo fees be added to the list of expenses that is measured against income to decide whether a buyer can afford a mortgage.</span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"> </span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"><br /></span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;">The changes to the country's mortgage rules - the second in as many years - emerge amid rising concern about the record levels of household debt, which measured as a ratio of money owed to disposable income nears a startling 150% as of the third quarter of last year. That surpasses the level of debt held by American households, whose appetite for borrowing helped stoke the financial crisis of a few years ago.</span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"> </span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"><br /></span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;">The Bank of Canada recently warned debt levels are growing faster than income, and the risk posed by consumer indebtedness to the domestic economy would continue to escalate without a "significant change" in how consumers borrow and banks lend.</span><span class="Apple-style-span" style="color: rgb(0, 0, 0); font-family:Helvetica;font-size:16px;"><a name="LETTER.BLOCK6"><table border="0" width="100%" tabindex="0" cellpadding="5" cellspacing="0" id="content_LETTER.BLOCK6" style="margin-bottom: 6px; display: inline !important; "><tbody style="display: inline !important; "><tr style="display: inline !important; "><td valign="top" width="100%" rowspan="1" colspan="1" align="left" style="color: rgb(51, 51, 51); text-align: left; display: inline !important; font-family:'Trebuchet MS', Verdana, Helvetica, sans-serif;font-size:10pt;"><span style=" color: rgb(3, 3, 3); font-family:Verdana;font-size:10pt;"><p style="margin-top: 0px; margin-bottom: 0px; display: inline !important; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"><br />Bank of Canada governor Mark Carney said policymakers have a "responsibility" to look at the benefits of pre-emptive action. Joining the chorus have been chief executives at the big banks, most notably Ed Clark at Toronto-Dominion Bank, in publicly advocating for tougher mortgage standards.</span></p></span></td></tr></tbody></table></a></span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"> </span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"><br /></span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;">Last Friday, Prime Minister Stephen Harper acknowledged his government was considering changes to the rules governing mortgages.</span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;">He said the government "remains concerned about growth in the level of household debt and will look at taking prudent steps to moderate that growth. We will look at what steps may or may not necessary.</span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"> </span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;">In February of 2010, Mr. Flaherty moved to toughen up the mortgage rules amid worries that Canada was in the midst of a housing market bubble. The reforms, since introduced, compelled borrowers to meet standards for a five-year fixed-rate mortgage, even if the buyer wanted a shorter-term, variable rate loan; reduced the amount Canadian can borrow against their home, to 90% of the property value from 95%; and require purchasers of rental properties to issue a 20% down payment as opposed to 5%. The moves played a role, observers say, in slowing down real estate activity.</span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"> </span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"><br /></span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;">The new changes, though, reduce even further the amount people can borrow against their homes, to 85%. Also, the changes target HELOCs, which Mr. Flaherty cited as a source of concern in a recent interview. Home-equity lines of credit surged 170% over the past decade, or twice the rate of mortgage growth, and now represent 12% of overall household debt. With the new rules, Ottawa will no longer back the HELOC, as it was doing up until now through mortgage insurance. Instead, sources say, the government will signal that the banks are on the hook for any default linked to a HELOC it issued.</span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"> </span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;">The cut in the amortization period, or the time required to pay off the home loan, follows a 2008 move by Ottawa to stop insuring 40-year mortgages.</span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"><br /></span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"></span><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;">While the federal government looks to curb borrowing, economists say the Bank of Canada may have to follow by raising its key interest rate sooner rather than later. The central bank issues its latest rate statement on Tuesday and it is expected to hold its benchmark rate at its present 1% level as signs indicate the economy may be benefiting from renewed business and consumer confidence in the United States.</span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"> </span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;">Stewart </span><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;">Hal</span><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;">l, economist at HSBC Securities Canada, said the extraordinarily low-rate environment "provides all the incentive to consumers to borrow and spend and none of the incentive to save. You can try to [regulate] that away but that is apt to be fraught with significant frustration."</span></p><p style="margin-top: 0px; margin-bottom: 0px; "><span lang="EN" style=" ;font-family:Helvetica;font-size:9pt;color:black;"><br /></span></p></span></td></tr></tbody></table></a></span>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1148879522873236238.post-38667910529135130732011-01-17T11:59:00.002-07:002011-01-17T12:05:38.484-07:00Fixtures, Chattels and Flat Panel TVsRecent dramatic price reductions in the cost of plasma, LCD and LED televisions have resulted in flat panel TVs becoming some of the most popular electronic devices. Today you would be hard pressed to find a household without one or more flat panel televisions and at least one of these will likely be mounted in an elevated position on a wall by means of a mounting bracket. <br /> <br />The question that arises is how should flat panel televisions be dealt with in a real estate transaction? <br /> <br />For reasons that will be discussed in greater detail in this article, if you have your hearts set on removing a mounted television when you move out, then you’d better be listing this item as a “fixture” not remaining with the property. On the other hand, if you want that wall mounted television and bracket, then, as the buyer, in the offer to purchase you should be specifying these items as a “chattel” to remain with the property on closing. Anything else, and in particular remaining silent about this item in the contract, is likely to give rise to disappointment and hurt feelings on possession day.<br /> <br />Relevant provisions in the standard form contract<br /> <br />A number of years ago AREA’s standard form contracts introduced the plain language terms “attached” and “unattached” goods to replace “fixture” and “chattel”. The key provision in the Residential Real Estate Purchase Contract that deals with this issue is paragraph 1.1 which states that:<br /> <br />“The Property is the Land, Buildings, Attached Goods (unless excluded) and included Unattached Goods located at (municipal address):.................”<br /> <br />If clauses 1.3 and 1.4 are left blank, then the contract includes everything that is attached to the property and excludes (the seller is entitled to remove) everything that is detached from the property. Clauses 1.3 and 1.4 are provided to enable the parties to deviate from the default provision. Most commonly one will find standard kitchen appliances listed in clause 1.3 (unattached goods to be included) as “stove, fridge and dishwasher”. This is problematic because failing to be specific in terms of the make, model and colour of the appliances can lead to substitutions of appliances by sellers prior to possession day. Such substitutions are difficult to prove and therefore remedy. Clause 1.4 (attached goods to be excluded) is used less frequently, but might indicate “the heirloom dining room chandelier” as being an attached good that the seller intends to remove from the property on closing. <br /> <br />Clearly the key to completing these clauses correctly is an understanding of what constitutes “attached” and “unattached” goods.<br /> <br />The Common Law<br /> <br />All available court precedents that have addressed this issue have done it in the context of “fixtures” and “chattels” rather than the new terminology. I expect, however, that the same analysis would apply. The clearest rules that I could find were set out in a British Columbia decision (Royal Bank of Canada v. Maple Ridge Farmers Market Ltd. S.C.B.C. 1995, No. A950858) as follows:<br /> <br />1. Any item which is unattached to the property, except by its own weight, and can be removed without damage to ... (the premises) that will need repair, is a chattel.<br /> <br />2. Any item which is plugged in and can be removed without any damage or alteration is a chattel.<br /> <br />3. Any item which is attached even minimally (i.e., it cannot simply be unplugged) is a fixture. For example, if an item requires the removal of screws, nails, bolts, detachment of plumbing, or the cutting and capping of hardwire, it will be a fixture.<br /> <br />4. If a piece of equipment is attached to a structure, a part of which could be removed but which would be useless without the attached part, then the entire piece of equipment is a fixture.<br /> <br />The foregoing makes it clear that any appliance which is simply plugged into an electrical outlet but otherwise stands on its own is a chattel (unattached good) but the moment that the appliance is screwed or glued or otherwise attached to a cabinet or wall it becomes a fixture (attached good). It also makes it clear that if a part of an appliance can be removed (such as attachments to a vacuflow or remote controls for a garage door opener) but would be useless without both parts, then all of the parts are considered to be a fixture.<br /> <br />Analysis<br /> <br />Where does the foregoing leave us with respect to common appliances and the flat panel TV?<br /> <br />Stove: could be an attached or unattached good depending on whether it is free standing and only plugged into an electrical outlet, or built in or wired directly into the electrical system.<br /> <br />Cook top: will usually be wired directly into the electrical system or gas line, and as a result is an attached good.<br /> <br />Refrigerator: can be either free standing or built in or, potentially, directly tied into a water line if it has a water cooling or ice making feature and, as a result, could be either a chattel or a fixture.<br /> <br />Dishwasher: needs to be connected to the water supply and may be wired directly to the electrical lines (rather than plugged in) and, in addition, will likely have some screws attaching it to the cabinets, and, as a result, will be an attached good.<br /> <br />Microwave oven: can either be a free standing chattel (if it is simply standing on a ledge) or a built-in fixture (if it has venting grills attached to both the appliance and the cabinets).<br /> <br />Garbage compactor: unless there are some screws to hold it in place, will usually be a free-standing appliance.<br /> <br />Washer and Dryer: may be either attached or unattached goods depending on the nature of the connection of the water lines to the washer and the exhaust vent from the dryer.<br /> <br />Garage door opener: is always a fixture as the motor is bolted to the ceiling of the garage and connected to the garage door. The remote controls are an integral part of the whole as they are useless without the motor.<br /> <br />Ceiling fan: is always an attached good as it will be screwed to the ceiling or the electrical box.<br /> <br />Vacuflow system: is always a fixture due to the motor being attached to the wall and the system pipes, and the attachments are an integral part of the whole.<br /> <br />Wall-Mounted Panel Television: First of all, there is no question that the mounting bracket is an attached good as it will be screwed directly into the wall. However, the television itself is more problematic. Unlike the power head of a vacuflow system, the television could be removed from the bracket and still function and be useful on its own. However, rarely will a wall-mounted television simply hang on a bracket by its own weight. Usually there will be some degree of attachment to the bracket by screws, bolts or safety pins. This would make it appear to be more of an attached rather than an unattached good.<br /> <br />Conclusion<br /> <br />In order to avoid misunderstandings and problems on possession day, where doubt exists about any goods being attached or unattached, it is best to list such goods in either 1.3 or 1.4 depending on what the intention of the parties may be. Frankly, even where there is no doubt at all about an item being a “fixture”, there is no harm in a buyer including it under clause 1.3 in order to avoid a misunderstanding on closing.<br /> <br />courtesy of Lubos K. PestaUnknownnoreply@blogger.com0tag:blogger.com,1999:blog-1148879522873236238.post-40474580363553661202010-12-03T12:26:00.004-07:002011-01-17T12:07:36.531-07:007 Ways To Improve Efficiency in The Workplace<span class="Apple-style-span" style=" ;font-family:Verdana, Arial, Helvetica, sans-serif;font-size:11px;"><div><span class="Apple-style-span" style=" ;font-family:Verdana, Arial, Helvetica, sans-serif;font-size:11px;">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.</span></div><div><span class="Apple-style-span" style=" ;font-family:Verdana, Arial, Helvetica, sans-serif;font-size:11px;"><br /></span></div>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.<br /><br />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.<br /><br />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.<br /><br />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.<br /><br />5. Stay organised and get rid of clutter. Cluttered spaces often means cluttered minds. It will hold you back from achieving your unsurpassable purpose.<br /><br />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.<br /><br />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.<br /><br />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.<span><br /><br />Good luck.</span></span>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1148879522873236238.post-66145112888366361322010-11-01T19:02:00.001-06:002010-11-01T19:07:33.148-06:00Calgary Buyers’ Remain Cautious<p class="MsoPlainText" align="center" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; text-align: center; font-family:Consolas;font-size:10.5pt;"><b><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:14pt;">Calgary Buyers’ Remain Cautious</span></b><o:p></o:p></p><p class="MsoPlainText" align="center" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; text-align: center; font-family:Consolas;font-size:10.5pt;"><b><i><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;">Sales of million dollar plus homes a bright spot in 2010 market</span></i></b><o:p></o:p></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"><o:p> </o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><b><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;">Calgary, November 1, 2010 –</span></b><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"> 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®). <o:p></o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"><br /></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"><o:p> </o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;">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.<o:p></o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"><br /></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"><o:p> </o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;">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.<o:p></o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"><br /></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"><o:p> </o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;">“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®.<o:p></o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"><o:p> </o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;">“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.<o:p></o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"><br /></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"><o:p> </o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;">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.<o:p></o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"><br /></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"><o:p> </o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;">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.<o:p></o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"><br /></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"><o:p> </o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;">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.<o:p></o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"><o:p> </o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;">“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.<o:p></o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"><br /></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"><o:p> </o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;">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.<o:p></o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"><o:p> </o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;">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.<o:p></o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"><br /></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"><o:p> </o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;">“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.<o:p></o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"><o:p> </o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;">“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.” <o:p></o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"><o:p> </o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;">“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.<o:p></o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"> <o:p></o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span class="Apple-style-span" style="font-family:'Times New Roman', serif;"><span class="Apple-style-span" style="font-size: -webkit-xxx-large;"><br /></span></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span class="Apple-style-span" style="font-family:'Times New Roman', serif;"><span class="Apple-style-span" style="font-size: -webkit-xxx-large;"><br /></span></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span lang="EN-CA" style=" ;font-family:'Times New Roman', serif;font-size:12pt;"><o:p> </o:p></span></p><p class="MsoPlainText" style="margin-top: 0in; margin-right: 0in; margin-bottom: 0.0001pt; margin-left: 0in; font-family:Consolas;font-size:10.5pt;"><span class="Apple-style-span" style="font-family:'Times New Roman', serif;font-size:130%;"><span class="Apple-style-span" style="font-size:16px;">courtesy of CREB.</span></span></p>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1148879522873236238.post-41594695950946188522010-10-12T12:14:00.000-06:002010-10-12T20:00:27.803-06:00Condominium Special AssessmentsCondominium 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:<br /><br />• Aging condominiums built in the 1970s and 1980s may now require<br />major maintenance that was either not anticipated or not fully<br />funded.<br />• Apartment buildings converted to condominiums during the hot<br />market of 2005 and 2006 may never have been fully refurbished<br />and problems are now surfacing (i.e. elevators, roofs, mechanical<br />equipment).<br />• 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.<br />• 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.<br /><br />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.<br />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.<br /><br />While this practice is balanced, it can still result in circumstances of hardship for either party.<br />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.<br /><br />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.<br /><br />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.<br />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).<br /><br />Clause for the benefit of the Buyer<br /><br />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."<br />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.<br /><br />Clause for the benefit of the Seller<br /><br />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.”<br /><br />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.<br /><br />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:<br /><br />7.6 “The (Buyer or Seller) is solely responsible to pay the special assessment in the sum of $.......................due on ……………………<br /><br />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.<br /><br />Conclusion<br />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.<br /><br />courtesy of Lubos K. Pesta, Q.C.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1148879522873236238.post-29012359474833588062010-09-07T00:49:00.000-06:002010-09-07T21:03:36.009-06:00Calgary Economic OutlookProvided 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.<br /><br /><br /><p><a href="http://www.calgaryeconomicdevelopment.com/files/2010%20Calgary%20Outlook%20Report%20FINAL.pdf">Calgary Economic Development</a><br /><br /><strong>Highlights</strong><br /><br />"Calgary will experience a Charlie Brown economy in 2010; an economy that<br />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."<br /><br />"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."<br /><br />"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."<br /><br />"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."<br /><br /><br /><br /><a href="http://www.calgary.ca/docgallery/bu/finance/economics/quarterly_economic_outlook/quarterly_econ_outlook_2010_q1.pdf">City of Calgary</a><br /><br />Highlights<strong></strong><br /><br />"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."<br /><br />"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."<br /><br /></p>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1148879522873236238.post-30463580585907258172010-08-24T00:42:00.003-06:002010-08-24T12:43:47.115-06:00Where to buy: Top 10 citiesReal Estate Investment Network (REIN) has compiled what it says are the top 10 Canadian cities in which to invest. The full article is <a href="http://www.canada.com/business/Where+cities/3369599/story.html">here</a> at canada.com. Please take the time to follow the link as the article explains in detail each cities merits.<br /><br />1) Calgary, AB.<br />2) Kitchener-Waterloo-Cambridge, Ont.<br />3) Edmonton, AB.<br />4) Surrey, B.C.<br />5) Maple Ridge & Pitt Meadows, B.C.<br />6) Hamilton, Ont.<br />7) St.Albert, AB.<br />8) Barrie & Orillia, Ont.<br />9) Red Deer, AB.<br />10)Winnipeg, MB.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1148879522873236238.post-2974465142398144472010-08-19T13:11:00.002-06:002010-08-19T13:44:35.421-06:00Home Staging Checklist<div align="left"><strong>Home Staging Checklist - Making Your Home Look Its Best</strong><br /><br /><strong>Basement, Attic, Garage</strong> </div><ul><li><div align="left">Clean out attic, basement and garage and dispose of everything that you are not going to move. </div></li><li><div align="left">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. </div></li><li><div align="left">If the basement is dark and gloomy, paint ceilings and walls a light colour. If undeveloped, paint the floor. </div></li><li><div align="left">Repair cracks in basement floors and walls with a ready mixed grout (concrete). </div></li><li><div align="left">Wiping clean the furnace and hot water tank will make them appear newer and well maintained.</div></li><li><div align="left">Wash down the garage floor and clean any oil stains with a chemical absorbent. </div></li><li><div align="left">Stack stored items neatly against walls to make the rooms appear larger. </div></li></ul><p align="left"><strong>Kitchen</strong></p><ul><li><div align="left">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. </div></li><li><div align="left">Clean the ventilating hood in the kitchen. Thoroughly clean to remove any odors especially around trash containers and areas where food is stored. </div></li><li><div align="left">If the kitchen floor is badly worn, consider new flooring. Light colours and simple patterns are best. </div></li><li><div align="left">Remove small appliances from your counters (toaster, coffee maker, etc.). Clean counters make a room look larger. </div></li></ul><p align="left"><strong>Bathrooms</strong> </p><ul><li><div align="left">Repair dripping faucets and unclog any plugged drains. </div></li><li><div align="left">Hang fresh towels and use a deodorizer in the bathroom area. </div></li><li><div align="left">Use special cleaning products to remove stains from toilets, tubs & sinks; keep sinks and mirrors shining. </div></li><li><div align="left">Replace old caulking around bathtubs and clean tiles so they sparkle (purchasers always check the shower). </div></li></ul><p align="left"><strong>Living Areas</strong></p><ul><li><div align="left"> Have all plaster in top shape. Cracks, nail-pops or visible seams are easy to repair. </div></li><li><div align="left">Check ceilings for leak stains. Fix the cause of the damage, repair ceiling and re-paint. </div></li><li><div align="left">In painting and re-decorating always stick to conventional white and easy-to-work-with neutral colours. </div></li><li><div align="left">If you have a fireplace, clean it our and lay some fresh logs in it to make it look inviting.</div></li><li><div align="left">Wash windows both inside and out. Replace any broken or cracked glass. </div></li><li><div align="left">Replace all burned out light bulbs. Use brighter bulbs in all general lighting areas. </div></li><li><div align="left">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).</div></li><li><div align="left">Straighten up closets – get rid of excess – store out of season clothes so closets look larger.</div></li><li><div align="left">If doors stick slightly, rub a block of paraffin against the surface that shows signs of wear.</div></li><li><div align="left">If sliding doors stick, rub the tracks with paraffin or candle wax. Lubricate any squeaky hinges.</div></li></ul><p align="left"><strong>Outside</strong> </p><ul><li><div align="left">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. </div></li><li><div align="left">Cut back over-grown shrubbery that looks scraggly or keeps light out of the house. </div></li><li><div align="left">Paint your house if necessary. This can do more for sales appeal than any other factor </div></li><li><div align="left">In winter, walks must be free of snow and ice (liability may also be a concern). </div></li><li><div align="left">Inspect the roof and gutters. Any missing shingles to replace? Are gutters clean and downspouts attached? </div></li><li><div align="left">Consider putting flowers outside the front door if it’s not in perfect condition (very important for first impressions). </div></li><li><div align="left">Repair any broken outside steps. </div></li><li><div align="left">Keep lawn closely cut and edged. Clean the yard; store toys, bicycles and tools away.</div></li></ul><p align="left">courtesy of CREB</p>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-1148879522873236238.post-29474107456457553982010-08-13T14:22:00.005-06:002010-08-13T15:52:12.339-06:003 things you must do prior to making an offerSo 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:<br /><br /><strong>The Title</strong><br /><br />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.<br /><br /><strong>The MLS® history</strong><br /><br />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.<br /><br /><strong>Comparable Sales</strong><br /><br />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.<br /><br /><br />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!<br /><br />Good luck,Unknownnoreply@blogger.com0