Edmonton Real Estate Blog

For the most part, RRSP concepts and facts are easy to understand: You regularly contribute to RRSP-eligible investments, the accumulating investment amounts are tax-deductible and tax-sheltered until you make withdrawals in retirement, and you enjoy the considerable benefits of compound growth over the longer term. Those RRSP facts are plain and simple but here are a few lesser known facts that will help you get the most from your RRSP eligible investments.

The Home Buyer’s Plan allows you to borrow from investments held in your RRSP for the purchase of your first home. You and your spouse can each borrow up to $25,000 but you can only participate in the program once and you must repay investments held in your RRSP over the next fifteen years or you’ll pay tax on any amounts not repaid.

The Lifelong Learning Plan makes it possible for you to use funds held within your RRSP to pay for training or education. If you qualify, you can withdraw up to $10,000 in a calendar year with the total withdrawal amount capped at $20,000 over a maximum of four consecutive years. You must repay within ten years to avoid penalties.

If you cease to be a resident of Canada you can still make contributions to your RRSP eligible investments using only Canadian-source earned income to calculate your contribution limit. There is a 25% withholding tax for payments to non-residents from investments held within a RRSP or RRIF but you can transfer qualifying lump-sum pension benefits or retirement allowances directly into your RRSP eligible investments without paying the withholding tax. You can also transfer funds between investments held within RRSPs without incurring a tax penalty.

In the year you turn 71 you must wind up your RRSP and take the cash, purchase an annuity or transfer the money to RRIF eligible investments, from which you will be required to withdraw annual amounts based on your age. If you are not earning much income, it might be more advantageous to start making withdrawals from your investments held within a RRSP/RRIF prior to age 71 to smooth out your taxable income in later years. After age 71, you can no longer make contributions to RRSP eligible investments for yourself but if your spouse is under age 71, you can still make contributions on their behalf.

Knowing the facts about RRSPs and RRIFs and using the right strategies will help ensure you can realize all your retirement dreams. You can get the right RRSP (and all other financial) facts and strategies from your professional advisor.

This column, written and published by Investors Group Financial Services Inc. (in Québec – a Financial Services Firm), and Investors Group Securities Inc. (in Québec, a firm in Financial Planning) presents general information only and is not a solicitation to buy or sell any investments. Contact your own advisor for specific advice about your circumstances. For more information on this topic please contact your Investors Group Consultant.

Feel free to contact me or visit my website for more information.

Reduced $10,000 for a quick sale!

Perfect starter or investment property. 3 Bedroom townhouse, 1.5 bath. Ideally located close to schools, playgrounds, Rundle Park. Upper level has 2 large bedrooms and a 4 pce bath. The basement has a large master bedroom and a 2 pce bath.  Newer hot water tank and furnace. It has it own private fenced yard in the front. All the windows have been recently replaced and all the fences have just been repainted. This is a great bargain so don’t miss out. *For more information visit realtor’s website*.

Click here to view more info and pictures or call today to view in person 780-634-8151

To View & Search All MLS Listed Houses for Sale Visit Us At:

www.EdmontonHomesforSale.biz

Since 1956, the S&P/TSX has delivered an annualized return of 9.16% and has proven to be resilient through the worst market conditions. Market volatility is a regular occurrence of investing. Over the same period of time there have been many instances when the TSX declined by more than 10%. Each time, the market recovered and achieved new ground. Staying the course is of the utmost importance during periods of volatility as it ensures investors are able to fully recover from these periods and achieve their long term investment goals.

Feel free to contact me or visit my website for more information.

Perfect starter or investment property. 3 Bedroom townhouse, 1.5 bath. Ideally located close to schools, playgrounds, Rundle Park. Upper level has 2 large bedrooms and a 4 pce bath. The basement has a large master bedroom and a 2 pce bath.  Newer hot water tank and furnace. It has it own private fenced yard in the front. All the windows have been recently replaced and all the fences have just been repainted. This is a great bargain so don’t miss out. *For more information visit realtor’s website*.

Click here to view more info and pictures or call today to see in person.

1751 sq.ft. 2 storey home with 3 bedrooms, 2.5 baths, stairwell fireplace with blower fan kit, glass planet railings, stainless steel kitchen package. The basement is partially developed with a large family room with wet bar. There is a large eat in kitchen with island. The large master bedroom has a 4 pce ensuite bath and walk in closet. In the back of the house we have a deck and a 20’x20′ garage pad ready to have a double garage built.

Click here for more pictures and info or call today to view this home in person.

To View & Search All MLS Listed Houses for Sale Visit Us At:

www.EdmontonHomesforSale.biz

Serge did a great job selling my house. He was professional, helpful, and realistic. We collaborated on a price and it sold within 5 days! Anyone interested in selling a home should contact Serge Bourgoin and Team Leading Edge.

Duration is a measure used to assess the impact that a change in interest rates will have on a bond. Shorter term bonds are generally less price sensitive than longer term bonds. If a bond fund has a duration of 5 years and interest rates increase by 1%, the bond fund’s unit price may decrease by approximately 5% (5 x 1). Bonds are also affected by other factors such as inflation expectations and the supply and demand for bonds. Different bond funds will react differently to those economic factors, making it important to diversify across asset classes.

Feel free to contact me or visit my website for more information.

To start your new home search visit www.EdmontonHomesForSale.biz

In the first six months of the year, housing prices in the Edmonton Census Metropolitan Area (CMA) showed slow, steady increases. According to the REALTORS® Association of Edmonton, the all-residential average price was up 5.6% from the average price on December 31, 2012. Compared to June 2012, the current average price is up 4.2%.

“Economic conditions in the Edmonton area are generally positive and this is reflected in our local housing market,” said President Darrell Cook. “Prices have risen slowly through the first six months and there is nothing in our local economic trends to indicate that this period of stability will change.”

The average all-residential price for the Edmonton CMA in June was $359,631. This was up 0.8% from May 2013. The average price of a single family property in June was $412,269, up 2.3% from last June when the price was $402,840. Condominium prices followed a similar path with June prices at $261,854 compared to a year ago at $240,822.

The inventory of available residential properties on the MLS® System has increased over the past two quarters and is currently at 6,078 properties. Never-the-less, this is still lower than the inventory of 6,435 homes recorded at the end of June 2012.

“Higher prices and a shortage of inventory in some categories have limited the number of sales,” said Cook. “We are seeing some instances of multiple offers, however buyers looking at higher priced properties are taking their time to study the market with their REALTOR® before making an offer on the property that matches their needs.”

The all-residential sales figures for June are down 1.5% year-to-date when compared to 2012 with 8,664 sales so far in 2013 as compared to 8,792 in 2012. There were 1,840 residential properties of all types sold in the Edmonton CMA in June and 1,800 sold in June 2012. Single family detached sales of 1,080 were off 4.9% from last year. Condominium sales were up in the first half because of a lack of lower priced single family properties. There were 470 condo sales in June compared to 536 in June 2012. There were 116 duplex/row house properties sold in June. Note: all sales numbers are estimated to reflect late reported sales.

The average days-on-market for all residential property was up to 47 days from 45 days in May and the sales-to-listing ratio was 63% in June,

up from 53% last month.

Source: REALTORS® Association of Edmonton

To View & Search All MLS Listed Houses for Sale Visit Us At:

www.EdmontonHomesforSale.biz