NON-QUALIFYING ASSUMABLE MORTGAGES There currently seems to be a lot of misinformation out there regarding non-qualifying assumable mortgages in the province of Alberta.  Contrary to popular belief, provincial legislation, or the Alberta government's Law of Property Act, has not changed on this. The legislation still dictates that all mortgages in Alberta are assumable without qualifying. Some other changes, however, have taken place that currently make finding non-qualifying assumables like ... Full Article...

FORECLOSURE INFO If you decide you want to buy a foreclosure property there are a number of things to consider. Many people think they want to buy a foreclosure but once they learn all the risks involved decide this kind of purchase is not for them. When an offer is written on a foreclosure, the buyer must sign what is typically referred to as a Schedule A. These documents vary in content but essentially detail the buyer is accepting the property in "as is where is" condition and waiving any ... Full Article...

With the Calgary real estate market softening up, it seems lenders are getting a little more flexible on foreclosures. I am finding now, if the property is at the stage of foreclosure where the lender has taken possession of it, they are starting to allow offers with finance condtions. This is not true in all cases and each foreclosure property must be evaluated on an individual basis. Currently I have an offer in on a foreclosure owned by TD Canada Trust, and they are allowing a finance ...

For those of you thinking of retiring or just investing in a sun and fun destination, the Dominican Republic offers excellent real estate deals right now. Recently I spent two months on the north coast of the DR, in and around the areas of Sosua, Costambar and Cabarrete. At that time, it was a buyer's market and now it is even more so. I received an email from my real estate associate there  yesterday and he says he is reducing the prices on almost all of his listings. The market there, if it ... Full Article...

At the Sutton Monday morning meeting today,  realtors indicated the market has slowed considerably. All realtors in attendance verified a noticeable shift in market activity. Their phones simply were not ringing like before and open house attendance had also dropped off. Buyers will continue to enjoy good inventory levels and deals are out there to be had.

With housing inventory levels piling up, the real estate market has clearly shifted to one that favors buyers. We are starting to see a number of price reductions, and buyers looking at a lot more inventory before making decisions. Sellers need to be aware of  the market shift and adjust pricing accordingly. Buyers, on the other hand, are enjoying favorable inventory levels and the opportunity to get a real deal on a real estate purchase. With mortgage interest rates trending upward and ...