Come to our open house this Sunday, the 14th from 1pm-4pm to view this beautiful property in person.
Open House Address:
17060 67 Avenue Northwest, Edmonton, AB T5T 6E6
Stunning contemporary open concept 3 bedroom, 4 level split end unit with attached garage. Substantially renovated over the last few years with hardwood & slate tile floors. Windows & doors have been recently upgraded, the deck is also new. Every closet has organizer to maximize the space. Basement has roughed in double plumbing for another bathroom. East side of unit has triple glazed windows for energy efficiency & to keep exterior nice quiet & peaceful. Located in a great neighbourhood. This unit has to be seen to be truly appreciated.
To View & Search All MLS Listed Houses for Sale Visit Us At:
www.EdmontonHomesforSale.biz
Serge Bourgoin
Senior Managing Partner
Team Leading Edge
RE/MAX ELITE
780-995-6520
If you are planning to purchase a new build. There are two types are mortgages available. Completion or Draw mortgage. A Completion mortgage is when builder does not require funds require funds until property is completed. Whereas, in terms of a Draw mortgage, the funds are advanced during the building process. The builder will advise which type is required and you simply advise your mortgage associate.
New builds require 6 to 12 months. In which, the mortgage with a one year rate holds will be required. Minimum down payment is 5%, which the builder will require as a deposit.
Borrowers qualify at time of purchase. Once your purchase contract is signed with the builder, you have roughly 10 days to work with a mortgage associate to get the financing approved. Within those 10 days, buyers will sign documents and provide supporting documentation for the lender to review.
It is important to note that the lender will recheck credit and employment before possession. So, ensure you don’t finance any large purchases since any changes in your circumstance could negatively affect your application and possibly disqualify you completely.
Aside, from the type of mortgage, builders may differ in their process including upgrades. In some cases the purchase contract will includes all upgrades at the time of purchase. So, the client will be required to decide on their upgrades upfront and the mortgage amount can be determined at time of approval.
Whereas, others the purchase contract simply outlines cost of the base model. Upgrades are to be chosen at a later date and a final price quote will be provided a month before completion. In this case, I will estimate the total cost of all upgrades and submit for a mortgage amount that is includes the estimate. When, the final price quote is received then the lender will re-adjust the mortgage amount to reflect actual amount.
Although, different builders may require different types of mortgages or the processes may vary. I can help you get the right mortgage and make your purchasing experience a breeze!
If you need clarification, don’t hesitate to contact me. I would be happy to explain further.
Before you go shopping, it is important to know who much you can spend. One of the most important steps in the home-buying process is being pre-approved for a home loan. The pre-approval will determine your budget as well as secure your rate while house hunting.
For buyers who have been pre-approved, the mortgage associate has already done a credit check along with verification of income. The pre-approval is a commitment to loan the buyer up to a certain predetermined amount. It provides buyers with confidence when putting an offer on a home.
Based on your credit, down payment and income the mortgage associate can determine your pre-approved mortgage amount. It determines your price range and narrows the search parameters. This saves time for not only the buyer, but also your Realtor.
A pre-approval is also a rate hold. This secures your rate for 90-120 days while you are looking for a home. If rates increase, your rate is guaranteed. If rates decrease, you get the lower rate! So, in this regards, there is no negative effect to getting pre-approved.
To get started, the pre-approval process involves completing an application. This can be done in three ways: filling out paper form, verbally over the phone or meeting in person. You decide based on your comfort level and/or schedule. Contact me when you are ready to purchase your next home. And let me know if I can provide any additional information about pre-approval or financing options.
Edmonton is the second-best market in the country to invest in housing, says real estate analyst Don Campbell.
“Population growth is strong, job growth is strong and things are supporting this market quite nicely, said Campbell, founding partner of the Real Estate Investment Network, a business that provides resources and information on real estate to members.
“It doesn’t look like it’s going to be another ‘07 where it just got into pure frenzy, but I think you’ll see late this year and early 2014 — which is a year behind Calgary as always — that the market will really start to push up.”
Home-buying demand will start taking off late this year while prices will begin rising next spring, Campbell says.
He bases that prediction on a formula where demand and prices come about 18 months after increased rents, which in turn follow decreased vacancies, increased demand for rental housing and growing population. All of those are triggered by earlier economic and job growth.
“We’re going to see a lot of listings come on during this year as well,” Campbell said, noting a current undersupply of listings.
Investors who bought too many properties in 2007, 2008 and 2009 will see the increased buying demand as a chance to sell, he said.
“The market’s barely moved in Edmonton as far as value. It’s a good window of opportunity before it starts to heat up again to get into the market. From an investment point of view, your rents are going up.”
He said when suites go vacant, landlords will raise rents by $150 to $200 per month.
“That will make renters think twice about renting rather than buying and that will happen over the next 12 or 18 months.”
Edmonton is second only to Calgary as the best place to invest in Canada in residential real estate. Campbell rates Hamilton as third because of its diversifying economy and job growth. Campbell was in Edmonton to promote his latest book The Little Book of Real Estate Investing in Canada. Royalties from the book go to Habitat for Humanity.
IT’S STUNNING!!! 1852 sq.ft. 2 Storey, 3 Bdr Plus Main Floor den that could be used as a 4th bdr. It has 2.5 Bath, & Open Great Room Concept. Featuring Gleaming Hardwood, Earth Tone Tile, Neutral Paint & Laminate Floors, An Amazing Foyer With A Full & Open Ceiling That Accents The Beautiful Pillared Archway Which Divides The Formal Dining Room & Living room. A Lovely Traditional Dining Room Is Terrific For Entertaining During Those Special Occasions & Designed For A Full Dining Suite. The Great Room Has a Gas F/P. The Dinette is Bright & Cheery & the Kitchen Area Is Found At The Back Of the Home Opening up To the Deck & Back Garden. Also On The Main Floor Is A Laundry/Mud Room W/Newer Stainless Steel Front Loading Washer & Dryer W/Access To The Garage. Up The Grand Stairway To The Upper Level Is The Nicely Sized 2nd & 3rd Bedroom W/4Pc Bath & The Master Reteat That Boasts A Walk-In-Closet & A Gorgeous Spa W/Swirl Tub. The Home Also Has P/Fin Basement.
For more information or to schedule a showing appointment call:
Serge Bourgoin
Senior Managing Partner
Team Leading Edge
RE/MAX ELITE
780-995-6520
To View & Search All MLS Listed Houses for Sale Visit Us At:
Prestigious Greystone Manor! just 2 minutes north of St. Albert. This is one of the most prestigious subdivisions in Sturgeon County. Completely serviced lot. It has th country setting with an urban access. The subdivision is designed will all lots being designed for home with walk-out basements. The subdivision is architectually controlled to keep the intregrity to maintain the exclusivity and values of the homes in this subdivision. New owner’s must build within 2 years. Listed for $279,900 To view more information visit us at: http://www.edmontonhomesforsale.biz/listing/st-albert/greystone-manor/e3330501-59-greystone-dr
IT’S STUNNING!!! 1852 sq.ft. 2 Storey, 3 Bdr Plus Main Floor den that could be used as a 4th bdr. It has 2.5 Bath, & Open Great Room Concept. Featuring Gleaming Hardwood, Earth Tone Tile, Neutral Paint & Laminate Floors, An Amazing Foyer With A Full & Open Ceiling That Accents The Beautiful Pillared Archway Which Divides The Formal Dining Room & Living room. A Lovely Traditional Dining Room Is Terrific For Entertaining During Those Special Occasions & Designed For A Full Dining Suite. The Great Room Has a Gas F/P. The Dinette is Bright & Cheery & the Kitchen Area Is Found At The Back Of the Home Opening up To the Deck & Back Garden. Also On The Main Floor Is A Laundry/Mud Room W/Newer Stainless Steel Front Loading Washer & Dryer W/Access To The Garage. Up The Grand Stairway To The Upper Level Is The Nicely Sized 2nd & 3rd Bedroom W/4Pc Bath & The Master Reteat That Boasts A Walk-In-Closet & A Gorgeous Spa W/Swirl Tub. The Home Also Has P/Fin Basement. Listed for $439,900 To view more pictures and information visit: http://www.edmontonhomesforsale.biz/listing/edmonton/chambery/e3330491-10632-181-av
Absolutely stunning in Upper Windermere! This 2500 sq. ft. bungalow has been custom-built in an open design with 14 ft. ceilings, quality finishes & unique accents. A lighted central curved staircase separates the formal dining area with lighted glass pillars, from the great room with 3-sided stone fireplace & wall water feature. The spacious kitchen offers high grade stainless steel appliances; gas range/oven, granite counters including preparation island, custom cabinetry & walk-thru pantry to the laundry/mud room. The kitchen nook gives access to the covered deck with built-in stone, gas BBQ. Retreat to the master bedroom with spa-like ensuite & large walk-in closet. The spacious lower level is finished with games area, full bar w/unique walk-in wine room, theatre room, exercise area, 2 large bedrooms & full bath. Additional features include hand-scraped hardwood flooring, home technology system, central air, 3 car heated garage w/2 drains, power washer & air & professionally landscaped yard.
A good investment in a renovation should increase the value of your home by at least the amount of money you spent, or close to it. A bad one doesn’t get you much of your money back. Here are some investments that have proven to return their value, or close to it:
· Low-cost improvements that make your home look better: Painting, new wallpaper, and items like new rugs and curtains help to brighten and improve the look of a home, and add value to your house if they are done close to the time of sale.
· New or improved kitchens and bathrooms: Improvements to your kitchen and bathroom seem most likely to increase the value of your home. Keep in mind that these improvements lose value over time.
· Improvements to the living room and the master bedroom: These are also good investments and will usually return most of the money you spent, if not more.
· Investments in more efficient use of energy: Oil, gas, and hydro costs continue to go up. That’s becoming more of a concern when people are looking to buy a home. You can make your home more energy efficient as an investment in its value. Some government programs help reduce the costs of these projects. Also, consider buying appliances that waste less energy.
· Keeping up with repairs. If you do a little at a time, you can avoid doing a lot of expensive repairs at the same time. A reasonable amount to spend yearly is 1% to 2% of the value of your home.
What are some renovations that don’t add much value to my home?
· Swimming pool: Make sure you want a pool before you invest in a pool. The cost of putting in one won’t show up in the price that you get when you sell a home.
· Costly appliances: Most people won’t want to pay an extra $4,000 for your home to pay for a $7,000 refrigerator instead of a $1,200 refrigerator. If you pay thousands of dollars for top-of-the-line appliances, enjoy them. You probably won’t get your money back if you sell them with your home.
· Costly landscaping: The way your home looks from the street can really help interest buyers. It’s called ‘curb appeal.’ But if you spend $30,000 in landscaping, don’t expect to get it all back. Most buyers probably won’t see or appreciate the value.
· Renovating in an area where homes are being torn down: Tear-down activity involves homes being sold, torn down, and replaced by bigger, more expensive homes. If someone is going to buy your home and tear it down, a renovation won’t return any of your money. The buyer will have no interest in the building, just in the land.
Remember: Don’t assume you will get all your money back from a renovation
The key to renovating is to keep the house in good repair and do the renovations you want to enjoy. If you think you might be selling in the near future, focus on renovations that are more likely to get your money back.
Learn more:
: information on a wide range of topics ranging from finding a contractor, to home maintenance checklists
– Resource Centre Worksheets: worksheets and checklists you can use when planning a renovation who belongs to the Canadian Home Builders’ Association
You may think you’re deciding by logic, but don’t be so sure
You might buy a sweater on impulse, but when it comes to buying a home it’s all about calm deliberation, right?
You might be surprised.
Price, square footage, location: “All that can be trumped by the visceral reaction of seeing a home,” says June Cotte, who teaches marketing at Western University’s Ivey Business School. “Smells, colours, sounds you can hear inside or from the outside — you might not be aware of them, but they can have an influence.”
The layout may even subliminally remind you of the home of a former boyfriend, says Cotte. That can have a positive or negative emotional impact on how you perceive a home that’s for sale.
In fact, a study published in the Journal of Advertising Research in 2002 said emotions can be twice as important as knowledge in consumer buying decisions. Subsequent research has determined that the role of emotion in buying situations varies by individual and circumstance, but there’s no doubt that, overall, it’s a critical factor in consumer behaviour.
And while it’s important to feel an emotional tie to the place you live in (it can inspire everything from maintaining the house properly to caring about your community), abandoning your inner Mr. Spock and his logic isn’t wise.
Take aspiration, for example. We judge a potential purchase in part by whether we think it will represent what we would like to be and how we’d like to be perceived. An empty nester, however, might actually be happier staying in peaceful suburbia instead of buying a loft in a noisy downtown area just because he fancies himself a young-again urban hipster.
As well, we fall victim to confirmation bias, the pervasive tendency to cherry pick or interpret information that confirms our preconceptions. We fall in love with a house and so we dismiss the mouldy smell, saying the place just needs a little airing out.
We also readily become invested psychologically in a property before we’ve reached a rational decision, according to professor Michael J. Seiler, who specializes in behavioural real estate at Old Dominion University in Norfolk, Va.
“You’re looking at a house and suddenly start thinking of the community and the neighbours and how they’ll be your friends.
“Expectations, fears, desire for status — a lot of stuff influences you,” he says. “So be cautious, try to be rational.”
Influences are at work before you ever enter a prospective home. Billboard, newspaper and other advertising, although frequently banal, fosters expectations, says Cotte.
If a builder advertises extensively, for example, you might make the illogical assumption that because the company spends oodles of money on advertising it must be profitable so it must be good. “It’s called accessibility bias,” she says. “The most accessible brands, the ones that immediately come to mind, we value as being positive.”
Urbandale general manager Matthew Sachs says that, when advertising, “you hook with emotion and reel in with intellect.” A radio advertisement, for example, might ask, “Remember the first time you fell in love?” It would then segue from romantic love to love of a house, tack on some factual benefits — energy efficiency for example, although Sachs says that might be couched as “comfort” or “you’ll save money” — and exit with another emotional hook.
When it comes to face-to-face sales, Sachs says Urbandale has no defined strategy except to listen closely to what the prospective buyer wants.
His advice to home hunters: “Excitement is important if you’re buying a house, but do your research. Validate and verify.”
Eric Manherz, a Royal LePage real estate broker in Ottawa, says a good agent will help clients keep their emotions in check and concentrate on finding what it is they really want. That, he says, takes time and may not be what they had originally thought.
He also sees peer pressure at work. “People at coffee break say, ‘You should never offer full price.’ In some cases, you should. And maybe those people bought years ago, when the market was different.”
Because having too many choices usually means we make no choice, Manherz suggests after a day of house hunting to scratch most of what you’ve seen off your list.
That will also help control what Cotte terms “anchoring and adjustment bias”: if you’ve seen 20 crummy houses and then one decent one, you’ll assess the decent one as being better than it actually is.
And do not — repeat, do not — feel guilty for making your real estate agent troop around for days on end or think you have to please him or her by buying.
And what if, by following all this advice, you feel you missed out on the “perfect” home?
Says Manherz, “There’s always another opportunity.”
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