Real Estate Blog - sell home

Shopping in the Foreclosure Market

Essentially a foreclosure is a home that is bank owned. This typically happens as a result of previous owners defaulting on their mortgage payments. Because they could not afford to make the payments on the house, the bank reclaimed the home. Generally speaking this situation has pros and cons for a potential buyer.
Pros of shopping for a foreclosure
Typically (although not always) the bank is looking to recuperate the money it was owed by the previous owners. This means that a home may be listed well-below its value, or at a price that will cover the banks losses, rather than garner a large profit. This is not always true, however, so it is important for you to discuss the asking price with your realtor to decide if both the price and the property are…

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Using Home Staging to Sell Quickly

In a buyer’s market, or a saturated market, selling your home can be tough – there is a lot of competition out there. Staging your home is one way that you can set your property a part from others, but home staging isn’t only beneficial in a buyer’s market. In a seller’s market, homes may be selling quickly but oftentimes that will depend on the price range your home fits into. Even in a seller’s market there may be niches where a seller finds quite a bit of competition and this is where they can utilize home staging too.
Home staging is the practice of completely setting your home up as if it were a show room. You choose stylish furniture and accent pieces, it doesn’t have to be a lot either, just the basics to give potential buyer’s an idea of how the…

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Selling Your Home in Edmonton is Exciting

Being in a position where you want or need to sell your home is great! Not only is it an exciting process, but selling your home in Edmonton means you get a competitive market too. What makes it so exciting? Well first of all, you get to go through a change in your life. Whether you are simply moving to a new home in Edmonton, or to another city, you get to start fresh somewhere else. Secondly, you get the excitement of hunting for a new home, and lastly, you get to satisfy your curiosity about your current home and what it is valued at in the current real estate market.
Selling your home in Edmonton can be a great opportunity because of the housing demand. You may receive a great return on your property, especially if you have invested in it through…

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The Benefits of Being a First Time Homebuyer

For a first time homebuyer, realizing you’ve finally saved up enough for a down payment is a proud and exciting day. But where so you begin? There are many things you’ll want in your new home, and maybe a few different neighbourhoods you would consider living in.

Begin by searching a neighbourhood or city you are interested in, within your price range. This will give you some idea of the amount of homes available within your budget, even if you don’t necessarily find anything you love right away. Secondly, you should contact a mortgage broker. A broker will tell first time homebuyers exactly what you can afford, which may mean adjusting the budget you already had in mind. A broker will take into consideration what you have saved, your credit, your…

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Fixed rates will be better when interest rate go higher.

According to BMO capital market, longer-term fixed mortgage rate may be sooner better deal for homebuyers than variable rates. Variable mortgage rates has been cost effective for homebuyers.  As economy is improving to continue long term rate will be beneficial for home buyers. Bank of Canada and Federal Reserve might increase interest rates in 2015.

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Bank of Canda keeping interest rate unchanged.

The Bank of Canada is keeping its lending rate at 1% until 2015.Bank of Canada recognized that inflation is little higher than expectation and economic growth is little bit stronger. Bank of Canada also expecting inflation rate between 1% and 3% . Five year lending rate at 5.24% as of March 5th , 2014 which is down from January 22nd 2014 statement.  Next interest rate statement will be on April 16th 2014.

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CMHC mortgage loan insurance premiums is going up

CMHC has increased its mortgage loan insurance premiums for homeowner and will be from effective May 1, 2014. It does not apply to mortgage currently insured by CMHC.
According to CMHC, higher premium will result in an increase of approximately $5 to their mortgage payment.
Effective May 1st 2014 rates will be as follows
Loan-to-Value Ratio Standard Premium (Current) Standard Premium (Effective May 1st, 2014)
Up to and including 65% 0.50% 0.60%
Up to and including 75% 0.65% 0.75%
Up to and including 80% 1.00% 1.25%
Up to and including 85% 1.75% 1.80%
Up to and including 90% 2.00% 2.40%
Up to and including 95% 2.75% 3.15%
90.01% to 95% – Non-Traditional Down Payment 2.90% 3.35%

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Real Estate Tips

Real estate can be an exciting venture in life, whether you are looking for a private residence or you are in search of investment or recreational property. Whatever you are after, it is likely you have more than a few questions about it. Below are some tips and guidelines to consider when you begin to shop for real estate.

First things first…
Get a mortgage preapproval. This will mean ensuring your credit score is in good order, and that you have some money stashed away for a down payment. Not only does a preapproval give you peace-of-mind and surety of your real estate price range, it also looks good to sellers when you make an offer and there are competing bids.

Be willing to compromise
Unless you are in a position to purchase a million dollar…

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More Positives in Edmonton Real Estate

The Edmonton real estate market is promising to remain healthy according to forecasts announced by the Realtors Association of Edmonton early in January. According to this announcement, current home owners can expect to see a 3% increase in the value of their single-family homes, with condominiums and townhomes seeing an approximated increase of 2%.

First Time Buyers

For first time buyers these statistics can seem alarming, but what the Association also stated was that the sales of condominiums and alike homes will increase this year – with about 11 500 predicted to be purchased (an increase of 1000 from 2013). The reason this increase is predicted is because while the Edmonton real estate market is healthy and growing, condos and townhomes (also…

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Shopping Edmonton Homes for Sale and Why Not to be Intimidated

Edmonton Homes for Sale are popping up every minute and selling out faster than you can blink. In the South end of the City alone, there are over a dozen developments in various stages of completion. Now is a great time to buy in this part of the City because you’re pretty much guaranteed to see a return on your investment.

While you may only be purchasing a lot at this time, depending on the development, one thing is a fact: getting in on a development in the earliest stages is going to offer you the best prices (on lots or homes). As developments complete, construction noise dissipates, landscaping is finished and the area more or less settles. All the amenities and features of the community are in place for residents and a whole neighbourhood is now…

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