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Monday, June 27, 2011 Six Signs it's Time to Buy a HouseCategories:Buy a House In Calgary
A great article we found about homebuying.
Six Signs it's Time to Buy a House
Monday, June 27, 2011 Janet Fowler If you've been considering buying a house but you're still unsure, consider some of the personal and economic conditions that favor home purchases. If you find that a number of these signs ring true for you, it might be time to contact a real estate agent and start shopping.
1. You're Ready to Commit First and foremost, if you're not ready to commit to owning a home, you should not buy a house. Home ownership comes with a plethora of responsibilities, including home maintenance, property taxes and the process of selling the property when it comes time to move. Legal fees, moving expenses, and all of the incidental costs associated with buying a home can really add up. To make the most of these costs, it's best to plan on living in your new home for a stretch of time. Consider whether you have a stable job that will provide a solid income for a mortgage, and if there's any chance you'll have to relocate in the near future. If you feel you can commit to sticking with a home for at least five years, then it might be just the right time for you to buy. If you're typically a hardened commitment-phobe, remember that you can sell or rent your property if your situation changes dramatically. (For related reading, see Simple Ways To Invest In Real Estate.)
2. Owning Costs Less than Renting If you've examined your budget and realized that your monthly payments associated with buying a home are less than you're currently paying in rent, it's time to consider a home purchase. Talk to your bank and look at what your mortgage payments would be for a variety of different properties and gauge what you can afford. Factor in any additional costs you may have to pay, such as condominium fees or extra utility bills, and compare your total costs to what you're paying in rent. If it's roughly the same or less, you could be saving money by purchasing a home - plus there's the added benefit that you'll be putting your monthly home expenditures toward your own home equity! (For related reading, see When Owning Your Home Doesn't Pay.)
3. Buyer's Market When demand for housing is low and there's a wealth of properties on the market that aren't moving too fast, that's known as a buyer's market. You'll have a lot more bargaining power under these conditions than if you're buying in a seller's market, which is when demand for homes is high, resulting in few properties on the market that are selling fast. In a buyer's market, chances are you'll be able to negotiate a seller's list price down - sometimes quite substantially - and save yourself a lot of money in the process. (For more, see Rent To Own: Own To Rent.)
4. Low Interest Rates When interest rates are low, it's a great time to look at buying a home. You will be able to get a reasonable interest rate on your mortgage loan, which can save you a lot of money in the long run. A home is generally the single largest purchase anyone makes, and the amount of interest tacked onto a mortgage really adds up over the years that you're repaying the loan. Even a difference of a fraction of a percentage point can make a pretty big difference over the long term. Consider a mortgage of $220,000. The difference between a rate of 4.2 per cent and 4.5 per cent results in an extra $13,993 paid toward interest over the course of a 30-year mortgage. That's a lot more than just pocket change.
5. Adequate Funds for A Down Payment Having a hefty down payment helps in the same way as finding a low interest rate. Ultimately, the less you owe, the less you'll have to repay and the less you'll have to tack on for interest. If you find yourself with a nice lump of cash, putting it toward a home purchase is definitely a solid financial investment. Just think, you'll be building equity in your home which you'll see again when you sell, and you'll have somewhere to live in the meantime. Though it may be tempting to put the money toward a trip, a new car or a luxury shopping spree, the return on investment on these sorts of purchases - at least in the strict financial sense - can be rather disappointing. (For more, see 6 Ways To Come Up With A Down Payment On A Home.)
6. Seasonal During the springtime, more house listings tend to come on the market. With the poor winter weather over and the kids nearly done school for another year, this seems to be the time when most people are willing to take on a move. Having more homes on the market means a wider selection - and a greater ability to negotiate price. However, this is also the time of year when more buyers are in the market. Circumstances will depend on your particular market conditions, but the arrival of spring typically revives the real estate market after quieter winters. Alternatively, if you're willing to move during the winter months, sometimes owners of homes that have been sitting on the market for a long time are more willing to negotiate. (For related reading, see Are You Ready To Buy A House?)
The Bottom Line Occasionally, timing the buying or selling of your home may not be within your control, however, if you do have the opportunity to choose when you enter the market, doing it at the right time can save you a lot of money. Always remember that buying a home is a big commitment, so at the very minimum, you should never purchase a home without being completely sure that you're ready to take on the responsibility. If you're ready to commit and you find yourself with a number of other favorable factors like a low interest rate and a good sum of money you can put toward a down payment, then it's probably a great time to take the plunge! (For related reading, see Top 10 Features Of A Profitable Rental Property.)
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Denis Hrstic |
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Investment REALTOR® |
5 Reasons You Should Buy in Calgary Now
If you plan are on the fence about purchasing real estate in Calgary anytime in 2011, you should strongly consider buying now rather than waiting. Here are five reasons why:
1.) Interest Rates will Increase
We are still experiencing historical lows with lending rates. It cannot continue indefinitely and they have nowhere to move but up. Don’t get caught wishing you could have the best rates when they are available right now!
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Unemployment is Down: (http://bit.ly/k7QmK6)
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Western Canada has the Hottest Economies in the Country (http://bit.ly/lGlppd)
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Alberta is Headed for a Shortage of Workers (http://bit.ly/md9dbz)
All this equates to fundamental reasons why buying now is the right time.
3.) It is STILL a Buyer’s Market (for Now)
4.) People are moving to Alberta
5) Downpayment Help is available
There are numerous programs available RIGHT NOW that allow people with little or no downpayment to still buy a house in Calgary. These programs will not last forever. Remember you still have to be able to qualify but in many cases you can get a house with zero down.
Don’t wait to BUY. This ‘sweet spot’ of buying opportunity will pass – its just a matter of when.
Best Regards,
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Denis Hrstic |
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Investment REALTOR® |
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Direct: 403-852-6583 | Office: 403-271-0600 | Fax: 403-592-8831
4 Great Reasons To Invest in Real Estate
Leverage.
Real estate allows you to leverage your investment dollars using a mortgage. For example, you can buy a property with 20% cash down and 80% mortgage. Two advantages:
1. You own something worth much more than your capital investment
2. High yields because you can leverage the 80%
For example you buy a $300,000 property with 20% down and you sell it at $350,000. The beauty of real estate is that you invest $60,000 and make a profit of $50,000 – a yield of 83%. Even better – you can pay off the property using the property's own cash flow. Therefore your rate of return becomes even higher.
Get Paid Many Times Over Time
Good Calgary Real Estate investments generate monthly cash flow AND you realize gains when you sell. It's money now and more money later. This is in stark contrast to most other investments such as precious metals and non-dividend paying stocks where you only get paid based only on appreciation For example: buy an ounce of gold; you don't get a penny in dividends.
Security and Control
When you invest in a stock or bond, you have little or no control over where your money goes or how that company is managed. Your security on your is a piece of paper and the hope that there will be a market of buyers for that piece of paper in the future. With Calgary Real Estate, its bricks and mortar and the title to the asset is put in your name. You control what happens. It’s tangible – see it touch it. You can also control the operations therefore you can control the returns. For example, you decide who lives there, you decide how to budget maintenance, etc etc.
Creativity
We believe it is a poor decision to invest in anything that ONLY depends on appreciation. Real Estate allows you to create profits even when property values depreciate. For example, you rent out by the bedroom or rent out the basement, rent out the garage separately. If you do not have enough cash to invest? You can still utilize partnerships with our other investors. Or you might utilize some ZERO Down Techniques where you do not need any money to begin investing.
REMEMBER that Real Estate is a business. When you buy stocks, you buy them because you think the company will make money. You don’t ever buy them because you think the CEO is a nice guy or because the company is a close drive by. Real Estate operates the same way. You must look at your investment as a true business decision in order to be successful.
Best Regards,
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Denis Hrstic |
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Investment REALTOR® |
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Direct: 403-852-6583 | Office: 403-271-0600 | Fax: 403-592-8831
CIR REALTY 103,11012 Macleod Tr S Calgary, AB T2J6A5
ZERO DOWN HOME IN COPPERFIELD, CALGARY AB
ZERO DOWN O.A.C.* COPPERFIELD BEAUTY
Mortgage Payment = $1918.00 PER MONTH
DONT MISS THIS AMAZING OPPORTUNITY. ZERO DOWN in Beautiful Copperfield...From the moment you see the Front Veranda, you will want to live here. Welcome to this 3 bedroom home on a Quiet Street. As soon as you walk in you will be impressed with the Extensive Upgrades. Ceramic Tile from Foyer through Kitchen and Dining Areas. Upgraded Carpet in the Front Living Room and Upstairs. Incredible Color, Design and Layout. Spacious Kitchen with Dark Cabinets, Granite Countertops and Stainless Steel Appliances. The Kitchen is Perfect for Entertaining or Quiet Dinners. The Upstairs 3 bedrooms include a Sizeable Master Bedroom with a 4pc Ensuite. Another 4 pc bath for the family or guests completes the setting. The Landscaping is complete with a Sprinkler System and Large Custom Deck with Glass Railing. Do you enjoy the Sunrise? This home has an amazing Sunrise View as there are no neighbours behind you. Nothing but Peace and Quiet for as far as you can see. The Garage pad is poured for your future Garage. Close to parks, transit and shopping. And best of ALL – ZERO DOWN. This Home is a MUST SEE!
Alberta a 'job-creation machine'
Unemployment rate hits national 2-year low of 5.7%
However, in the Calgary census metropolitan area, the unemployment rate rose to 6.3 per cent in February from 6.0 per cent in January as 4,400 new jobs were created in the month. From February 2010 to February 2011, employment in the Calgary CMA has increased by only 1,400 jobs.
"With a few more months of even reasonably strong growth, we will definitely be back to record levels of employment in the province and that's what we've been expecting to see in 2011."
Elsbeth Mehrer, director of research, workforce and strategy at Calgary Economic Development, said the jobless rate in Calgary rose in February because the labour force number is growing. According to Statistics Canada, the labour force in the Calgary region grew by 6,200 people on a monthly basis.
Nationally, employment edged up in February by 15,100, bringing total gains over the past three months to 115,000. The unemployment rate remained unchanged at 7.8 per cent. The federal agency said that over the past 12 months, employment has risen by 1.9 per cent (321,700).
"Compared with February 2010, when Alberta was near its employment-low following the labour market downturn, employment has grown by 3.4 per cent, well above the national rate of 1.9 per cent," the federal agency said.
mtoneguzzi@calgaryherald.com
Buy a House in Calgary for $1000.00
Buy a House in Calgary for $1000.00
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Tuscany: Virtual Tour
DON'T WAIT TO BUY
Waiting Game Questioned
Officials from both the new and resale housing sectors have sent the message that prices will move up this year.
Sano Stante, president of the Calgary Real Estate Board, is the latest to indicate this move.
Based on recent job growth figures from the City of Calgary, and migration of people to Calgary, the resale market appears ready for recovery, he says.
"This could be great news for those home buyers who have been putting off purchasing for fear that homes may still decrease in price," says Stante.
Growth Anticipated in 2011 for Housing Market
Strengthening Economic Recovery and Low Interest Rates Point to a Stronger Than Anticipated 2011 for Housing Market
Prospect of rising mortgage rates may prompt heightened buyer activity early in the year, according to Royal LePage forecast
The low cost of borrowing stimulated the housing market in 2010, and this trend is predicted to continue in the first half of 2011. The widely held consumer belief that rates will rise in the latter part of 2011 may prompt an increase in buying activity early in the year.
“Trends in the housing market continue to be driven by the lingering after-effects of the recession,” said Phil Soper, president and chief executive of Royal LePage Real Estate Services. “Canadians realize that interest rates are unsustainably low and that homes will become effectively more expensive when mortgage rates return to normal levels. We will likely see more price appreciation early in 2011 as some buyers complete transactions in advance of anticipated higher borrowing costs.”
Soper added, “2011 is expected to unfold much like 2010, when close to 60 per cent of sales volume occurred in the first half of the year in anticipation of interest rate increases that never materialized. However, housing market activity in the first half of 2011 will be modestly closer to the norm, as last year’s phenomenon was exacerbated by mid-year tightening of mortgage accessibility and the introduction of HST in Ontario and British Columbia.”
Regionally, the strongest price appreciation of the cities studied is expected in mid-sized urban centers where affordability is better than the national average. For example, in Winnipeg, St. John’s and Fredericton, two-storey homes below $300,000 are still widely available. Demand in these cities is expected to be strong, putting upward pressure on home values.
Cities in Alberta are expected to be among Canada’s strongest performing markets in 2011. Woes in the historically volatile region’s housing market stretch approximately five years, when the Alberta housing market suffered a sharp correction following several years of double-digit price increases. The province’s energy-driven economy staged a comeback in 2010, recovering from the recession-led plunge in oil and gas prices. Major employers are expected to steadily increase hiring in 2011 which should attract new residents to the province and put upward pressure on the limited supply of housing. Royal LePage forecasts the average price of a home in Calgary will increase 5.4 per cent through 2011 while Edmonton home prices will increase 3.3 per cent. Home sale transactions are predicted to rise 6.7 per cent in Calgary and 9.1 per cent in Edmonton over the same period.
Across Canada, the average price of a home is forecast to rise 3 per cent over the coming year to $348,600 while the number of transactions is expected to drop 2 per cent.
During the fourth quarter of 2010, average home prices either increased or stabilized year-over-year, with Winnipeg, Ottawa, Montreal and St. John’s seeing the biggest gains. Nationally, the average price of detached bungalows rose to $324,531 (up 4.6 per cent), the price of standard two-storey homes rose to $360,329 (up 4.4 per cent), and the price of standard condominiums rose to $226,746 (up 3.9 per cent), compared to the fourth quarter of 2009.
Mr. Soper continued, “Like many Canadians, we anticipated an end to the ultra-low interest rate era before year-end 2010. Paradoxically, global economic weakness, particularly in the United States, allowed policy makers and financial institutions to keep borrowing costs low, resulting in a stronger Canadian housing market and a better than forecast fourth quarter.”
REGIONAL MARKET SUMMARIES
The residential real estate in market in St. John’s, Newfoundland saw strong year-over-year price gains across all three housing types surveyed every quarter this year. However, market has showed signs of cooling as inventory starts to rise.
Detached bungalows and two-storey houses in Montreal saw an 8.7 per cent year-over-year increase in the fourth quarter, while standard condominiums jumped 11.3 per cent. Average prices in Montreal are forecast to increase by a more modest 3 per cent in 2011 as a more balanced market emerges.
Ottawa’s housing market saw year-over-year price appreciation ranging between 6.3 and 10 per cent across all housing types surveyed this quarter. However, as inventory grows, Ottawa can expect price increases to be closer to 4 percent in 2011.
House prices surveyed in Toronto increased modestly year-over-year. Standard two-storey homes witnessed the largest increases at 5.6 per cent. Market activity slowed in the second half of the year as buyers rushed to the market in the first half of the year in anticipation of interest rate hikes and HST. For 2011, price increases are expected to be very modest at approximately 1 per cent.
Detached bungalows, standard two-storey homes, and standard condominiums in Winnipeg witnessed strong year-over-year price gains this quarter. Detached bungalows performed the strongest, increasing 10.3 per cent compared to the fourth quarter of 2009. Although the market is showing signs of cooling, sellers are still seeing multiple offers and are often receiving higher than their asking price. Winnipeg is expected to maintain its momentum throughout 2011 with prices rising around 7 per cent.
Single family homes performed best in Regina, which saw standard two-storey homes increase 9.1 per cent, while detached bungalows rose 8.4% and standard condominiums increased 2.4 per cent. Prices in Regina are expected to increase an overall average of 5 percent in 2011.
Both Calgary and Edmonton are positioned for house price increases in 2011 with a rebounding energy sector. In 2010, Calgary witnessed moderate year-over-year price depreciation across all housing types surveyed. Edmonton saw more modest price depreciation for two-storey houses, while condominiums decreased 5.7 per cent. Detached bungalows witnessed the only price increase among housing types surveyed at 1.2 per cent.
Single family homes in Vancouver dominated house price gains as two-storey houses rose year-over-year by 9.8 per cent in 2010. Condominiums on the East Side performed particularly well and, on average, Vancouver’s standard condominium market rose 7 per cent. Vancouver prices are expected to increase 3.7 per cent in 2011.
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Best Regards,
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More Happy Clients
More Happy Clients
We at MyHomeAgent love what we do. We are passionate about Real Estate and we love helping people achieve their goals.
In the last month here are two more families we helped. Every family has a unique personal story and goal which makes our job so enjoyable. When the home sales / purchases are finally completed and our clients are very excited and pleased, we are proud to see all the hard work pay off.
Many people thought we wouldn't be able to help these clients but it is further proof that our VIP BUYERS PROGRAM works.
BUYERS
Thinking of Buying A Home? Sign up TODAY to become part of our VIP BUYERS PROGRAM . We save you thousands of dollars and find you the home you want. Even if you cannot qualify for a Mortgage.
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Denis Hrstic |
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Investment Specialist |
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Direct: 403-852-6583 | Office: 403-271-0600 | Main: 403-592-8831
CIR REALTY 103,11012 Macleod Tr S Calgary, AB T2J6A5
New Mortgage Changes Unnecessary?
When is the Best Time to Sell?
14,500 transaction this year as a forecast averages out to 1200 sales per month. So would you rather sell your house when there is 6,000 listings or when there is 12,000 listings. Of course, the time to do it is NOW before the market is flooded with competition. And remember the mortgage rules change on March 18, 2011 so there will be LESS BUYERS for the same product in the summer.
Ottawa toughens mortgage rules
Ottawa toughens mortgage rules
OTTAWA -- Finance Minister Jim Flaherty is cracking down on Canadians' ability to qualify for a mortgage, in the government's latest attempt to rein in consumer debt.
Flaherty announced Monday the government is reducing the maximum amortization period for government-backed mortgages to 30 years from 35 years. The change will affect mortgages with loan-to-value ratios over 80 per cent.
Canadians will only be able to borrow up to 85 per cent of the value of their homes, down from 90 per cent.
In addition, the government is withdrawing backing for lines of credit secured by people's homes.
Flaherty said the changes are designed to prevent the kind of housing bubbles that developed in other countries, most notably in the United States, where the collapse of the subprime mortgage market triggered the global financial crisis.
Again: the TIME TO BUY IS NOW. Don't get surprised by this and have your hopes come crashing down in a few months. The government is giving ample warning.
This means if you wanted a $400,000 home with 5% down today, you would only qualify for a $370,000 home in a few months. That is $30,000 less of a home !
Call me today before it's too late
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Best Regards,
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Wells Fargo, Xceed, Accredited Mortgages
Wells Fargo, Xceed, Accredited Mortgages
- " They won't renew my mortgage"
- " I haven't missed a payment"
- " No one will refinance my mortgage"
- "What am I supposed to do?"
Wells Fargo, Xceed, or Accredited. Ask yourself again - do you know anyone with a mortgage at these companies. If you do, send them this email and then call them and tell them to CALL US TODAY. We can start working for them to determine the best solution available before these lenders start the intimidation game.
It's still surprising how many homeowners just grab some numbers...and start calling people in a mad panic. Do you want to waste your valued time, calling around in search of a solution when MyHomeAgent has THE solution for these lenders?
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HOUSE PRICES WILL RISE IN 2011
Denis Hrstic
CIR Realty
#103, 11012 Macleod Trail South, Calgary, AB, T2J 6A5
Phone: 403-271-0600, Fax: 1-800-409-2924
Cell: 403-852-6583, Email: denis@MyHomeAgent.ca
Calgary Housing Update
Denis Hrstic
CIR Realty
#103, 11012 Macleod Trail South, Calgary, AB, T2J 6A5
Phone: 403-271-0600, Fax: 1-800-409-2924
Cell: 403-852-6583, Email: denis@MyHomeAgent.ca
MLS sales in Calgary rebound in September
Denis Hrstic
CIR Realty
#103, 11012 Macleod Trail South, Calgary, AB, T2J 6A5
Phone: 403-271-0600, Fax: 1-800-409-2924
Cell: 403-852-6583, Email: dhrstic@cirrealty.ca
Virtual Tour: 35 Silverado Ridge Cres SW
Denis Hrstic
Cell: 403-852-6583
www.MyHomeAgent.ca
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