Home Price Index from CREA

Check out the latest Calgary stats http://homepriceindex.ca/docs/News%20Release_HPI_En_Apr2012.pdf

Things you need to know when hiring a contractor

Who to Hire?
When choosing a contractor, you should hire someone who has experience with projects similar to yours. For large renovation projects, you can hire a renovator to take charge of the whole job. You may also need to hire an architect, architectural technologist or a designer to prepare your project plans.
Finding a ContractorYou should get estimates from several different contractors. A good source for referrals may be a family member, friend or neighbour who has had similar work completed. Other sources include local homebuilders, renovator associations, local building supply stores and contractor websites on the Internet.
Choosing a ContractorYou want a contractor who will explain what’s going on as the project progresses, discuss problems and work with you to make the final result as good as it can be. Remember that a good contractor will have satisfied customers. A contractor should have references from at least three previous clients who have had similar work done. You should contact these references and ask about their experience.
Getting Estimates or ProposalsThree estimates will usually give you the information you need to make a decision. The estimate should include everything that the contractor will do to complete the job. You should assume that anything not listed is not included in the price. Make sure you have extra money in your budget to
cover unexpected costs.  Look for a fair price. Factor in any differences in what the contractors are offering and the skills they bring to the job.
Get It In Writing — The ContractContractors who don’t have an address, don’t want a written contract and offer discounts if you pay cash should be avoided. For your own protection and peace of mind, it’s best to always have a written contract, even if it is a small job.
Ensure The Contractor Has InsuranceMake sure the contractor has workers’ compensation and third-party liability insurance for all the people who will be working on the renovation and for the damage they may cause. Don’t accept or assume any liability for the contractor or trades people.
Working With Your ContractorTalk often with the contractor so you know what’s going on and what might be needed from you. Good communication can help settle disagreements between you and your contractor.
Consumer Protection LawsProvincial and territorial consumer affairs or consumer relations departments usually administer consumer protection laws. They can help you solve problems between you and your contractor. The Better Business Bureau will also handle consumer complaints and work through disputes to try and get a fair settlement.
If legal action is necessary, you may be able to take the contractor to small claims court.
Completion CertificateDon’t sign a certificate of completion until you have thoroughly inspected the work. If the contractor has to return later to finish a few minor details, you should note this, and if appropriate, hold back a portion of the payment to cover the work that still has to be finished.

Real Estate Insight

Real Estate Insight
Buying REO vs. Foreclosure - What's the Difference?
REO is an abbreviation for a REAL ESTATE OWNED property which indicates that the property has been foreclosed on and has been taken back by the mortgage lender, trustee, or bank.
I’m often asked, “Which is better to buy, an REO or a house being foreclosed on?” The answer isn’t always that simple, and really depends on personal preference, the individual properties, the conditions and terms being offered, etc.  There are distinct advantages to purchasing both, and a laundry list of items you should consider if you’re in the market.
There’s much to learn about purchasing these properties, and certainly any good investment is worth taking the time to fully understand your options.  As a real estate professional, I can help you make the right decisions for your family, and help you protect your best interests.  Most of these properties are sold, “as-is,” so it’s important to have an advocate on your side when negotiating these offers.
Call me to learn what properties are available in this area and how you can make the best financial investment for your family.

DRESS YOUR HOUSE FOR SUCCESS!!

Spending a few hours beautifying your house can go a long way toward a quick sale at top dollar. Taking the time now to look at several key areas will result in a dramatic increase in serious buyers. These few steps are a must for any home seller to follow: 

1.   Take a walk through your house with a "buyer's" perspective. Is the house warm and inviting, or does it look run-down, old, and cluttered? 

2.   Touch-up paint in all rooms. If the existing paint is especially unsightly, paint the entire room with a neutral color. 

3.   The most examined rooms in the house are the kitchen and the bathrooms. Make sure these rooms shine by removing all clutter, caulking around sinks and tubs, and cleaning all fixtures. Dripping faucets are easy to fix yourself 

4.   Prepare for a showing the same way you would prepare for friends coming over. Make the beds, pick up clothing, sweep and mop as needed. It should be easy for prospective buyers to move throughout the house. 

5.   Buyers will be interested in storage space in your house. Make sure your closets are clean and clutter-free. If you have clothes that you're not wearing, consider moving these to a storage facility to make your closets look more spacious. 

6.   Too much furniture can make a room look small and cramped. Consider moving extra chairs or tables to a storage facility as well. 

7.   What is the first thing your prospective buyers will see? Your front door. Make sure your door and entry are spotless. Paint if needed, and place a few bright flowers along the sidewalk. 

Call me for more home selling tips
you can use today!

UNDERSTANDING "AGENCY"

Why understanding "Agency" is the first step toward success...

Your real estate transaction is one of the most important financial decisions that you will ever undertake. As a real estate professional, I understand this and want you to be fully aware of your representation options.

"Agency" in real estate refers to the nature of the fiduciary responsibility that exists between you and the real estate professional you choose to work with. Having a complete understanding of the nature of this relationship is the first step to working together to achieve your real estate goals.

Only after signing a legally binding document does a real estate professional become your agent. As your agent, that REALTOR® now has a legal obligation to insure the protection of your best interests in every facet of the transaction.

 It's about loyalty
and responsibility...

Traditionally, real estate professionals worked mostly as agents of the seller, not the buyer. Their loyalties and responsibilities rested with those of the seller.

REALTORS® working with buyers were, in fact, acting as "sub-agents" of the seller, keeping the seller's loyalties ahead of those of the buyer. Often, the buyer had no idea of the true nature of this relationship.

Today's Buyers
have an option...

Buyers may now retain a real estate professional to represent their financial and legal interests when it comes to the purchase of a home. It's called a "Buyers Agent".

To learn more about the benefits of a Buyers Agent, please contact me directly for a free consultation.

FSBO FIRST AID

Six Factors Necessary To Get Your Property Sold...

1.  Setting the right price.

In today's competitive real estate market, buyers have access to more information than ever before. You have one chance to make a good first impression. In determining your asking price you should calculate the average sales price to list price ratio in your neighborhood. If you're serious about selling your house on your own you may want to offer a buyer a price incentive. After all the buyer you're looking for isn't using a broker either. National statistics indicate that For Sale By Owners usually wind up with about 9% less than what they could have gotten by using a broker.

2.  Create your marketing plan.
An ad in the paper, a sign in the front yard and word of mouth is a good place to start -- but where do you go from there? The more qualified buyers that you expose your property to, the higher the odds of finding a buyer that's willing to pay your price. I invite you to take a look at my marketing plan, and learn some strategies that may help you get your home sold.

3. Preparing your product.
Many factors come into play in preparing your property for showing. I'll be happy to give you my secrets for properly preparing your home for showing.

4.  Four questions to ask every caller:

(1) Are you pre-qualified? (2) What's the name and phone number of the person who pre-qualified you? (3) How much did you pre-qualify for? (4) What's your possession deadline? You have to separate lookers from buyers. You don't want to wind up entering into an agreement with somebody that down the road doesn't qualify to buy your property. I'll be happy to put you in touch with my lender to help you pre-qualify your callers.

5.  Properly presenting your property.

Don't get emotional. When I'm showing properties to buyers I don't even want the sellers there, because buyers are less likely to express their true feelings. I invite you to call me today and I'll share with you my strategies on presenting your property professionally.

 6.  Negotiating the sale.

It's a fact even in a seller's market over 90% of the properties sold sell for something less than the asking price. Prepare yourself for offers less than your asking price. Don't get emotional. After all, one of the main reasons a buyer is shopping For Sale By Owners is to try to get a better price. They know you're not paying a commission. Be prepared, and present evidence proving the value of your property. A third party negotiator can literally save you thousands in negotiating the sale of your property.

What's most important to you in the sale of your property? If it's putting the most amount of money in your pocket as you possibly can, I invite you to contact me directly.

MAKING YOUR REAL ESTATE DREAMS REALITY: Real Estate Outlook - Investing

MAKING YOUR REAL ESTATE DREAMS REALITY: Real Estate Outlook - Investing: With our economy back on the move and markets across North America heating up—investment in real estate is once again on the rise. In fact...

Real Estate Outlook - Investing

With our economy back on the move and markets across North America heating up—investment in real estate is once again on the rise. In fact, more than 12% of today's home buyers are purchasing their new home as an investment.

With low interest rates and high inventory to choose from—especially with the glut of priced-to-move foreclosures on the market—there is real value and excitement that surrounds this long-term investment strategy. Like any big investment, however, there are things you need to do to ensure that your best interests and legal rights are protected.

 If you or someone you know has thought about investing in real estate, give me a call today. I can help make sure you have the right information, tools and resources to make the best decisions for your family.

In fact, if you have any real estate questions, know that I'm here to help with everything from first time home buyers to second homes and retirement options and everything in between. In today's fickle financial world, it's always good to know you have someone you can trust who can get the answers you need when you need them.