Make sure you check out the link below, new mortgage ruleson the way.

Ottawa’s new mortgage rules save us from ourselves.

The federal government is keenly interested, and for good reason.Although today’s buyers are meeting banks’ borrowing standards,many are taking on excessive debt.

Both Finance Minister Jim Flaherty and Bank of Canada governor MarkCarney have talked a lot about the risk that rising interest rates will makecurrent debt loads unmanageable for some. They should be so lucky as to haveinterest rates rise. That would require a turnaround in the global economy, andright now, the big worry is a new recession.

Rising rates are a longer-term worry, then. In the near term,there’s the problem of people taking on mortgages that demand too much oftheir financial resources. Sure, they can cover off their regular mortgagepayments. But what about saving for retirement or their kids’ universityor college education? And what about their ability to withstand a financialshock like a job loss?

The government has decided to thin the herd of buyers by loweringthe maximum amortization period to 25 years from 30 for people who requiremortgage insurance because of a small down payment. This means higher monthlyor biweekly mortgage payments, which will keep marginal buyers on the sidelinesuntil they either save more or make more. Most first-time buyers go with anamortization of 30 years today. Moving to 25 years isn’t draconian– that was the unquestioned standard for the decades that preceded theincreased amortization periods introduced several years ago.

The government is also curbing use of home-equity lines of creditby capping borrowing at 80 per cent of a property’s value, down from 85per cent. The government could have been tougher here. Enthusiastic use ofthese credit lines has been a big contributor to high levels of indebtedness.

Don’t be angry with Ottawafor making it tougher to get into the housing market. You’ll get yourmortgage paid off sooner with a 25-year amortization and, if you can no longerafford to buy, you’ve been saved from borrowing trouble

Selling a house with un-permitted renovations or developments?

We have the solution.

By pulling a Concealed wiring permit we can permit electrical work previously completed as long as we get it up to the current codes.

Equinox Electric Ltd has been offering Concealed wiring permits for 2 years with 100% of those jobs passing inspection and getting the Stamp of approval from the city.

This solves a problem many homes have, people often develop basements, renovate bathrooms and kitchens without pulling Electrical permits. It also clears up all of the issues people have with insurance claims on un-permitted work

So how does it work?

Ø First we inspect the previous work

Ø Then we will inform the client of the electrical code issues

Ø Then we explain how we intend to fix any issues and discuss a price

Ø We then come in at a convenient time and do the work discussed

Ø Last step, a city inspector comes in and checks that it meets the code requirements and signs off on the job

This Service is Fast, proven and affordable, minimum cost is $400 (permits included) and average cost for a basement in $900. We are in and out in most cases in a day and can schedule the work in within a week of the initial meeting.

This Service provides not only an easier sell for an agent but peace of mind for buyer and seller.

Calgary Company offers this Service

Would like More Information - please let me know.

Terri 

Once in a while I look for homes that just draw my eye for location, and opulence.  I found a home in Eagle Ridge - backing onto park and near Hertiage Park the the Glenmore Reservoir. 

$2,475,000.00  

5485 square feet 

Gorgeous property 

For the discerning buyer - Luxury Real Estate 

“While there have been some conflicting opinions on the national housing market, particularly with price expectations, the Calgary housing market does not appear to reflect either a boom or a bust scenario, and is simply returning to activity levels consistent with a normal market,” says Lurie. “The current low supply in the single-family market has pushed up pricing slightly higher than anticipated.  However, sufficient supply in the remaining housing industry combined with economic uncertainty will likely prevent a repeat of the price jumps recorded in the not-so-distant past.” 

sometimes the "media" isn't right...but thats just an opinion

Thank you to Mayor Peter Brown, The Calgary Real Estate Board Team and the Ramada Inn - all in Airdrie this morning to give us the inside scoop on the Real Estate Market.

A snapshot of what was said,

Airdrie sales are up 38% for 2012  

Our Market is fairly BALANCED right now

WE are still 5% below our PEAK prices of 2007

Prices are up 3 1/2 % from last year

CALGARY market is still about 20% higher priced than AIRDRIE

BUT in Airdrie you can GET a LARGER HOME - MORE YARD and a GREAT lifestyle. 

** Apartment Condo's and TOWNHOUSES have not recovered and lag behind by 26% from the PEAK prices of 2007.

ADDING A TOUCH OF COLOUR

White: for centuries has been used as a symbol of purity and sterility, which

Is why it is often the colour found in public washrooms. White is a simple colour that looks good in any bedroom, and can be used to join two colours together.

Black: this colour brings forth very strong feelings. It can be used as an accent colour, but should be avoided as a main colour.  Studies have shown that prolonged exposure to rooms painted black can bring on depression

Blue: Overusing blue can make a room appear cold.  Blue is ideal for offices as it has been shown to make people work more productively.

YELLOW:  This is a cheery and happy colour that is perfect for a child’s room or nursery.  Lighter shades of this colour are preferable, as rich tones have been shown to bring on headaches and nausea.

Pink:  This is a very feminine colour that should also be used in small doses.  Lighter shades are ideal, as darker hues can make a room look tacky.

Green:It’s a fresh, cool and calming colour that is great for bedrooms, kitchen, bathroom or living room.  Throughout history green has been associated with nature and the earth.

Red: This colour is perfect for dining rooms or kitchen as its believed that it simulates appetite.

Orange:If you’re looking for a colour that will stimulate the mind and give you energy then orange is the colour your looking for.  This would be best for a study or play room.

A new survey indicates that home prices were on the increase throughout most of the country last month, including Calgary.

According to the Canadian Real Estate Association's Home Price Index, prices edged up more than 5 percent in March when compared with one year ago. Some of the biggest price increases were in specific metro areas, such as Toronto, which posted a year-over-year increase of 7.3 percent, followed by Vancouver at 5.3 percent, Fraser Valley at 3.3 percent and Calgary at 2.6 percent.

Gregory Klump, CREA's chief economist, noted how the rise in home prices is in line with how the market generally fares in the springtime.

"With that in mind, it's important to look at month-to-month movements in the context of how they compare to the same period in previous years," said Klump. "While the overall monthly price increase was on par with last year's figure, it masks slowing price momentum in the Lower Mainland area of British Columbia."

He added that the more reduced pace of price gains in these areas was countered by the considerable growth in Calgary, Toronto and Montreal.

Prospective homeowners looking to capitalize on the improved valuation of properties can take advantages of affordable Calgary mortgages with Jencor, as fixed rates have hit record lows. 

Courtesy of Cathy Lewis from Jencor Mortgage

I've personally used Cathy's services for over 10 years.

403-245-3636 (Calgary)

THE Expenses associated wiht a property portfolio are more easily overlooked: 

1-Get Organized - I've been using a spreadsheet for my monthly expenses.  There are several you can find and work on in the icloud.

2-Know Your Expenses - advertising, buisness use of home expenses, Condo fees, Continuing education, consultant fees, insuarnce, Interest, Management fees, Motor Vehicle expenses, Office Expenses, Property Tax,

Repairs and maintenance, Salaries and wages, Telecommunitications, Travel, Meals and lodging, Utilities

3-Know your captial Costs

4-Refuse a Salary - depends on the size of your portfolio

5-GST/HST - be vigilant

6-Start a Tax Free Savings Account (TFSA)

7-Disclose Foreign Investments

8-File on Time

 Terri's Tidbit for today 

303 that's how many listings we have in Airdrie as of March 28, 2012.  

247 which are single family homes /  56 which are condos = 303 properties

98 HOMES have SOLD in the last 30 days as of March 28, 2012

22 CONDOS have SOLD in the last 30 days as of March 28, 2012

HISTORY TELLS us

The Past 30 days

Average house size sold in Airdrie is 1650 sq.ft. for $373,045.00  - days on market 47

The Past 90 days

Average house size sold in Airdrie is 1645 sq.ft. for $365,703.00 - days on market 60

****** the market has picked up and our prices have slighty increased with sales

occuring a bit faster than 2 months ago *******

Call ME or Text ME today - 403-827-4663   Let's Get Moving 

Terri Stephens