Thu, 23 Jun
Mortgage Approval Pitfalls. We work with Jencor Mortgage (Brooke Bartlett) for new and existing Buyers for mortgage approval. We recommend that buyers read this article about mortgages and approval. There is a big difference between “pre-qualification” for a mortgage and a “pre-approval” for a mortgage.
Pre-approval is a lot more detailed process, and includes you taking the time to complete a full mortgage application, providing documentation and allowing your lender to pull a full credit rating (or three). While you are unlikely to have a property in mind at this stage, you should have a general idea of how much you will need to include in your loan. During the pre-approval process, you might even be able to lock in your interest rate. This pre-approval is considered a conditional commitment that allows you to search for a home below the approved loan amount. This can provide a huge advantage to a home buyer, as some loan companies consider your pre-approval as “cash in hand” that you can provide to a potential seller to show your interest in the property and your ability to pay. Having your financing arranged upfront can offer you a tremendous advantage if you get into a competitive bidding situation with another buyer, as you’re one step closer to a mortgage.
Thu, 23 Jun
Secondary Suites in Calgary. Do Calgary citizens want secondary suites? It depends on who you talk to. Many families in the suburbs don’t want the home next to them full of tenants and cars parking everywhere. However there are certain areas in Calgary close to down town that may be ideal for suited homes.
The City needs to look at this carefully. In areas where the lots are very narrow (could be fire hazard) in the newer areas it does not lend it sell to multiple family dwellings. however the areas where there are older bungalows on larger lots then suited basements will work.
Please check out this link for the Calgary Herald update on suites in Calgary.
Wed, 08 Jun
7 things to know about southeast Calgary's residential real estate market
Here are seven facts about activity in the quadrant last month, writes Josh Skapin, at the Calgary Herald.
1. Selection in the quick possession segment cooled off. There were 67 single-family homes that completed construction but were left unabsorbed in the quadrant last month, says Canada Mortgage and Housing Corp. This typically reflects spec and show homes. A year earlier, there were 126 of these homes.
2. Prices on spec homes stepped up. The average price on completed but unabsorbed single-family homes in southeast Calgary last month was $726,373, which was the highest in Calgary. In April 2015, the average was $672,954.
3. A stretch of new communities in southeast Calgary had a wide lead on single-family homes under construction. CMHC tracks housing activity by community clusters and one comprised of New Brighton, Copperfield, Cranston, Auburn Bay, and Mahogany had 344 single-family homes underway last month. That was more than 100 clear of the next most active group, including Sherwood and Nolan Hill, which had 230.
Click on link for more information…….
Wed, 08 Jun
*PRICE REDUCTION!* This FULLY FINISHED home features 4 bedrooms/4 baths on a quiet street in the popular community of Rocky Ridge . This 2 Storey DETACHED bare land condo offers low condo fees set up for maintenance for lawn & snow removal. Ideal arrangement for the busy life style or anyone who requires these services. Main floor boasts new hardwood flooring, ceramic tile, UPGRADED stainless steel appliances, granite sink, ample counter space, half bath and the convenience of main floor laundry. Upstairs you will find a large master bedroom equipped with a newly updated ENSUITE, 2 additional bedrooms and another FULL bathroom. Beautifully landscaped, fenced backyard comes with a new deck, mature trees, RV Parking, and a double detached garage. Basement is fully developed with a 4th bedroom, 3pc bath, rec room and NEW hot water tank. Close to schools, shopping, the community center and public transportation. No work to be done with this home, just move in and enjoy!
Call Matt Antrum at 403 608 5684.