CALGARY’S HOUSING MARKET SET TO OUTPACE 2010 Several Calgary Communities Get a Boost in Sales and Price Calgary, November 1, 2011 – According to figures released today by CREB® (Calgary Real Estate Board), Calgary residential sales totaled 16,184 after the first 10 months of the year, an increase of eight per cent over last year. Over 61 per cent of Calgary’s established communities saw increased sales levels compared to last year. Garrison Woods, Collingwood and Mahogany ... Full Article...

  If you've been looking at your investment portfolio lately and it isn't doing as well as you'd like it to, or maybe you're looking for an investment that will generate some cash flow now, or down the road, perhaps you should revisit rental revenue properties. As an example, let's say you buy a single detached house in a decent area with three bedrooms above grade, a two bedroom basement suite and a double detached garage, for $330,000. This is still doable, particularly now that we are in win ... Full Article...

  CALGARY’S HOUSING MARKET SET TO OUTPACE 2010 Several Calgary Communities Get a Boost in Sales and Price Calgary, November 1, 2011 – According to figures released today by CREB® (Calgary Real Estate Board), Calgary residential sales totaled 16,184 after the first 10 months of the year, an increase of eight per cent over last year. Over 61 per cent of Calgary’s established communities saw increased sales levels compared to last year. Garrison Woods, Collingwood and Mahogan ... Full Article...

BUYER CONFIDENCE HOLDING STEADY According to figures recently released by the Calgary Real Estate Board, "residential sales continued to gain momentum in Calgary this year, totalling 14,832 after the first three quarters, a seven per cent rise over last year." For people who had predicted that the gobal economic turmoil would cause a massive decrease in Calgary real estate prices this year, the numbers to date indicate that has not happened at all. While prices have remained relatively stable y ... Full Article...

CAPITALIZATION RATE Cap rate is another investment formula commonly used by investors for evaluating properties. The cap rate is arrived at by dividing the net operating income (which is the gross operating income minus operating expenses) by the value or price paid for the property. For example, if a real estate investment has  a net operating income of $10000 and an approximate value of $100,000 then the cap rate is determined by by dividing $10,000 by $100,000 which equals a 10 per cent cap ... Full Article...

INCOME RATE OF RETURN   In a previous blog, I talked about Cash on Cash Equity Rate of Return (ERR) on real estate investments. Another formula commonly known to real estate investors is Cash on Cash Income Rate of Return, or just Income Rate of Return (IRR). Unlike ERR, IRR does not factor in principal reduction on a mortgage nor does it factor in equity appreciation. The IRR means the amount of cash flow from an investment in any year, usually the first year, compared to the amount of cash do ... Full Article...

Here we are in 2011 and analysts have noticed a distinct rise in real estate activity levels. According to a recent RBC report, consumer spending in the US is on the rise, an indicator that the worst of the recession is behind us. According to a recent Royal Lepage economic report, real estate prices in Canada are expected to rise this year by about 3 per cent. The report indicated that many buyers are entering the market now as they understand that historically low interest rates will not stay ... Full Article...

SHUSWAP LAKE VACATION RENTAL AVAILABLE   Nicely renovated and furnished lakeview home available for winter or summer rental in beautiful Shuswap Lake , BC. Completely furnished, outdoor swimming pool, private acreage, short walk to boat launch and public beach. Three bdrms, three baths, sleeps six. Summer rate $1350 weekly and off season rate is $1080 weekly. Minimum three nights stay at $250 per night. Also furnished RV available separately summer season for $800 weekly and off season for $640 ... Full Article...

BRIGHT ECONOMIC FUTURE FOR ALBERTA   With all the tales of doom and gloom floating around these days it's nice to finally get some good news. As for construction and oil exploration in Alberta, the latest figures released show unemployment down from 6.8 per cent to 6.3 per cent, and around 9000 jobs were created in the last quarter.  Some 11,250 wells will be drilled in Canada in 2010 and about 7,590 of them will be drilled in Alberta. The carbon capture plant in Redwater, Alberta is said to be ... Full Article...

CASH ON CASH EQUITY RATE OF RETURN When you look at the whole gamit of investments available, it can sometimes be very confusing trying to figure out which one would work best for you. There are so many different formulas to analyze annual return on investment. When it comes to real estate many investors rely on Cash On Cash Equity Rate of Return to figure out how good a property might be. Let's break it down to show you how it works. If you buy a rental property for $350000 and put down 20 per ... Full Article...

AGREEMENT OF SALE Although provincial legislation dictates that Alberta mortgages are assumable without qualifying, banks have effectively figured out a way to stop this from happening. When the deal goes to the lawyers for conveyancing, the banks just refuse to send the statement of adjustments, which indicates to the buyer exactly how much the cash to close is. With deep pockets and a sophisticated legal staff, banks effectively ignore the legislation. And, this being the case, buyers are rel ... Full Article...

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 fi ... 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 ri ... 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 condit ... Full Article...

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 h ... 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.