Posts Tagged ‘remax edmonton’


5 Tips For Choosing a Neighborhood

Tuesday, August 24th, 2010

This is an excellent blog post from a Realtor in Chicago. While most of the sites she quotes don’t work in the Edmonton real estate market, she makes some excellent points that home buyers should listen to. Happy reading my Edmonton real estate blog listeners!

- John Carle

The original article appeared on Inman news at:  www.inman.com

You’re not just buying a house — you’re also buying a neighborhood. Sometimes, though, one resident’s “neighborhood glories” are another resident’s “neighborhood warts.”

Take, for example, close proximity to clubs and nightlife.

For some homebuyers, that would be a turnoff. But a few years ago, Austin, Texas, broker Kimbrough Gray had clients who insisted on being “stumbling distance” from a particular bar.

“They said, ‘We don’t want to drive after we’ve gone to our favorite club,’ ” Gray said. “I’d show them houses, and they’d say, ‘If we were drunk, could we find our way home to this house?’ ”

His clients ended up being happy with their eventual choice. But how is a stranger to a community expected to know the difference between “too close” and “too far”? Or how to know, like Gray’s clients, which neighborhood features are truly critical to their personal needs?

Five things to consider when picking a neighborhood:

1. The time of day when you first lay eyes on a prospective house can affect your impression of the neighborhood, so visit at various hours.

“A neighborhood can be totally different at night,” said Gray, who has blogged about factors affecting neighborhood choice at Escapesomewhere.com, the website of his brokerage, Vox Real Estate. “If you go somewhere at 1:30 p.m., it may seem OK, but if you go back at night, it (could seem) a bit more sketchy.”

The same can be said for neighborhood traffic congestion, which can change dramatically at rush hour — or traffic on a Saturday can be a different story than on a Tuesday, he said.

2. Neighborhood choice can be a pocketbook issue, and not just because of house prices and property taxes. Commuting costs — of both time and money — are critical.

“I’m a Realtor, but we also do a lot of investing, so we move around a lot,” Gray said. “I always calculate (in a buying decision) how much I’m going to spend on gas when I’m commuting.

“I’ve had clients say, ‘This house is $10 cheaper on the mortgage (than another house),’ but I’ve had to tell them, ‘Yes, but this one is going to cost you $80 more in gas.’ ”

3. Ask questions of people who already live there.

The locals usually freely offer their opinions of neighborhood safety, noise, school performance, commuting times, etc., he said.

“When I’m dealing with a condo association, I usually stand outside the building and wait to chat with somebody who’s just walking around,” Gray said. “But I’ve had clients who will go around and knock on doors.”

4. The Internet can be a boon for researching the nitty-gritty.

NeighborhoodScout.com, for example, is a subscription service that offers in-depth looks at such considerations as crime statistics (for 17,000 law-enforcement jurisdictions), school-performance data, and quarterly price-appreciation records of area homes.

It’s customizable: The site can do such things as take the characteristics of a neighborhood that’s familiar to you and approximate similar neighborhoods in other cities. For retirees, it can narrow down neighborhoods that have, say, a large population of educated seniors.

And coming soon, the site says, is a “build your neighborhood” feature in which users enter home-price range, crime-level comfort, preferred school scores, etc., to come up with suggested areas.

The service costs $29.99 a month, or $14.99 a month for a six-month subscription.

5. Some neighborhood characteristics can be hard to cram into numerical categories or scores. NabeWise.com has taken 65 “quality of life” characteristics and set them up as criteria for neighborhood-hunters.

For example, you can actually search for “trendy” neighborhoods — or “clean” ones. Perhaps you want to live around liberals or around conservatives. Maybe you want to be near a farmers market or public transit or nightlife. The user just needs to fill out a checklist.

The site also features photo tours of neighborhoods and reviews from locals. Currently, it covers only New York City, San Francisco, Boston, Seattle and Chicago; Los Angeles is in the works, the company says.

Mary Umberger is a freelance writer in Chicago.

3.79% On a 5 Year Closed Mortgage? WAKE UP!!! It’s Real!!!

Sunday, August 22nd, 2010

Here’s an email we got this weekend from a fantastic mortgage broker. She’s put together an unbeatable mortgage rate, details below. – John Carle

Hi John, Sarah and Ben!

I wanted to let you and all of your buyers know about a great rate I am able to provide – its a five year fixed rate….at 3.79%! While I can’t secure this rate for a preapproval, I can hold this rate for up to 120 days* for any offers written while the rate is being offered and submitted to the lender through me.

This is a major bank lender, not a small lender who is trying to attract business with a quick close or a no frlls mortgage!

If you are working with anyone who is looking, or know of others who were pondering the decision to start looking, let them know about this rate as everyone knows the first 5 years of a mortgage is when you pay the MOST interest, so purchasing when rates are at historic lows is a great way to reduce their overall interest costs.  I am happy to answer any questions you or anyone you know may have – just drop me an email or phone call at 780 982 1154 anytime!

*OAC, rates may change without notice, E&OE

Julie Cooper CMA, AMP
Axiom Mortgage Solutions www.towermortgage.ca

16406 100 Ave.
Edmonton, Alberta T5P 4Y2
p.780.982.1154
juliecooper@towerwealth.com

Help Buying Investment Real Estate for Self Employed

Wednesday, June 30th, 2010

This is a guest post by Julie Cooper of Tower Wealth Management…

Hi Everyone!

I hope you have had a busy spring market!

Today I met with one of my lenders who is opening up their Stated Income mortgages for Rental Properties again! The borrower must be either Business for Self or a fully commissioned earner.

Requirements to prove are:

BFS – one document proving Business for Self at least six months

Commissioned – letter from person who writes the commission cheque stating borrower is 100% commissioned – no income amount to be reported!

With both, no Notice of Assesments or other verification is needed!

This lender will do these stated income for rental property mortgages in Edmonton and immediate surrounding areas for those with average credit (contact me for full details) and 35% down. The investors this may appeal to are those with large amounts of equity in their principle homes or who already have some investment properties with good equity looking to purchase more investment properties – at decent rates! (current 3 year rate is 4.70 and current 5 year rate is 5.99 – rates are subject to change without notice).

I am pretty excited to have a lender back in the rental property/stated income arena and wanted to let you know asap for any opportunities you may come across. Let me know if you have any questions!

Julie Cooper CMA, AMP
Tower Wealth Management/Axiom Mortgage Solutions
16406 100 Ave. Edmonton, Alberta T5P 4Y2
p.780.484.5777
f.1.866.891.7305
t.1.866.484.5777
c.780.982.1154
juliecooper@towerwealth.com

“We provide individuals and businesses with comprehensive wealth management solutions using our unique Wealth Navigation Program”

Do We Need An RPR? Or Will Title Insurance Do?

Friday, June 25th, 2010

Ben Officer on the team recently had an excellent question posed to him by a client that’s selling their home.

Ben,

Do we need to have an RPR ordered, or will Title Insurance be sufficient? We really don’t want to spend the $600 that an RPR will cost us.

- name witheld

Dear client;

In theory Title Insurance is perfectly fine. It’s been in existence for so long, as has become very widely used throughout the nation. It’s a reasonable vessel for closing a sale. However Alberta is one of the last marketplaces to accept Title Insurance and an RPR is still the “common practice” in this province. So while Title Insurance is perfectly fine, there are still people who are scared away by the idea of not having a formal surveyors report on their new home.

I’ve never met anyone who won’t accept a RPR, but there are people who won’t accept Title Insurance.

Given that your home is worth in excess of $550,000 I think it’s a small price to pay to order the RPR for the home. I’d hate to lose a solid buyer in this competitive real estate market over something as silly as an RPR.

- Ben Officer
ReMax Real Estate (Edmonton)
www.Knock-knock.ca
(780) 701-9090

When Can I Get My Keys?

Saturday, May 15th, 2010

Hi John;

I’m wondering what time on possession day I can get my keys? I want to book some cleaners to go into the house before we start moving in. I was reading the contract, and it says noon. So would it be safe to book the cleaners for 1pm?

- Diana

Hello Diana;

I don’t recommend booking anything for possession day. There are so many factors that can delay the possession, none of which I have any control over. But I can tell you that there’s a very important Murphy’s Law in real estate:

“If you book something for possession day, there will be a major delay.”

Couriers could run late, lawyers can make mistakes, the other Realtor could be busy and not call me with key release, the seller could have a delay getting out of the home, land titles could run behind, etc. etc. etc.

My advise would be to book your cleaners for the day after possession, and move in the following day. It’s just safer that way.

- John Carle
ReMax Real Estate
www.Knock-Knock.ca
(780) 701-9090

Nice Agents for Nice People

ReMax is #1 with Reader’s Digest Readers

Thursday, April 8th, 2010

Congratulations to RE/MAX associates on being voted Canada’s Most Trusted Residential REALTOR® by readers of Reader’s Digest magazine. Reader’s Digest announced its “Trusted Brand Awards 2010” last month and will be featured in the May issue.  A study was conducted for the annual awards asking respondents, unprompted, which brands they trust most within 28 different brand categories.  Brand reputation, in this case, represented consumers having a positive personal experience with the brand.  30% of Canadian’s surveyed answered that RE/MAX was their most trusted residential realtor, that’s an impressive five times more than the runner up.

Ask John Carle – Sellers Lawyer

Wednesday, November 25th, 2009

Hello Mr. Carle;

The builder of the house is suggesting that we use their lawyer to complete the sale. Isn’t this a conflict of interest? Or is it OK?

- Kevin

Hi Kevin;

Yes, it does create a conflict of interest. You’re probably OK though, as the conveyancing process is relatively simple. Just keep in mind that if there is a problem you’ll have to get a different lawyer to resolve it because the current lawyer won’t be able to stay impartial.

Also, watch for anything that makes you uncertain or uncomfortable. You may want to seek independent advice on those issues, as the current lawyer probably does a lot of business with the builder.

All the best,

John

Introducing Sarah Dulmage

Thursday, October 1st, 2009

I would like to introduce a new member of my team.  Sarah is a new Realtor with the Knock Knock Real Estate team.

Sarah comes to us with an extensive background in business, having spent several years working in the commercial insurance world. In recent years she began to invest in the Edmonton real estate market, with much success. Her aptitude for the real estate business and keen business mind have provided her with a strong and unique outlook on purchasing good investment properties.

If you want to know more about buying real estate in the Edmonton area, and would like a professional business-minded point of view… Sarah’s your girl!

Welcome aboard Sarah! I’m proud to have you on my team.

Visit Sarah’s page on our website at http://www.knock-knock.ca/whos-there/meet-sarah-dulmage/

ReMax Press Release: More Good news for Real Estate!

Friday, September 25th, 2009

It seems like everywhere we look these days, there’s more great news about the Edmonton real estate market. Well, lookie here… More good news!

http://www.remax-western.ca/news/canadian-housing-markets-buck-recession-and-trend-upwards-says-remax

Have a fantastic weekend everyone!

John Carle
ReMax Real Estate (Edmonton)

CMHC Releases the Monthly Housing Statistics

Tuesday, September 22nd, 2009

This morning CMHC released their monthly report on the Canadian real estate markets, including Edmonton. There’s all sorts of great information in here, especially for those of us who enjoy statistics.

http://www.cmhc-schl.gc.ca/odpub/esub/61512/61512_2009_M09.pdf

I hope you enjoy reading this!

- John Carle
ReMax Real Estate Edmonton
www.Knock-Knock.ca
(780) 231-7534

If you’d like to know what homes are listing and selling for in your neighborhood, click here.

Recent Posts from Our Blog

Subscribe to this Feed

to this Feed


DAILY PROPERTY HOTSHEET