"Advice would be more acceptable if it didn't always conflict with our plans."

Tuesday, May 19, 2009 - Time is right for first-time homebuyers

Time is right for first-time homebuyers, housing experts say THE CANADIAN PRESS TORONTO - Panelists at a BMO real estate conference say there is no doubt that now is a great time for first-time homebuyers. President and CEO of Brookfield Real Estate Services (TSX:BRE.UN)Phil Soper says affordability in many parts of the country is improving for the first time in a long time. He says the housing market has shifted from a seller’s market to a buyer’s market, which is good news for som ... Full Article...

posted in General at Tue, 19 May 2009 20:06:18 -0600

Tuesday, May 19, 2009 - Direct from the Desk of Dory Cameron

Direct from the Desk of Dory Cameron…. an update for May 19, 2009. Over the last year, I have secretly begged the Bank of Canada to lower their rate. I have also secretly hoped that Kuwait oilfields would erupt in a sea of fire. I have prayed that people from all over the world would flock to Calgary as the best and most stable place on earth to live. None of this happened. Still, we desperately needed something to reduce the 8,000 listing that we’ve seen over the last year. The m ... Full Article...

posted in General at Tue, 19 May 2009 20:05:04 -0600

Saturday, May 16, 2009 - Stability Returning To Real Estate

Stability Returning To Real Estate - Confidence Seen Helping Calgary Resale Market Calgary's resale housing market is seeing an uptick in activity as consumer confidence increases and we can expect a slow, steady return to stability over the coming months, says the president of Coldwell Banker Canada. The local resale housing market has slowed compared with last year because of the current economic conditions and the high inventory of new homes built during the past few years of the boom, sai ... Full Article...

posted in General at Sat, 16 May 2009 07:37:16 -0600

Thursday, May 7, 2009 - April Market

April Market The average price of a single family Calgary home in April 2009 has increased by 1% to $426,311 from March 2009. But we are showing a decrease of 10% from April 2008 when the average price was $474,564. A year over year decrease of $48,253. We are seeing single family home prices stabilize as we move back to a more balanced market. The average price of a Calgary condominium in April 2009 was $277,056 a 2% decrease from March 2009, and a decrease of 11% from April 2008 when the av ... Full Article...

posted in General at Thu, 07 May 2009 12:19:13 -0600

Thursday, May 7, 2009 - BC Court rules Phony Mortgages are Banks problem

Lenders beware: Phony mortgages are the bank’s problem, court rules B.C. Court of Appeal says owners of properties hit by fraud don’t have to pay Homeowners can rest easier, but lenders may be scrambling after British Columbia’s highest court ruled in favour of the owners and left lenders holding the bag if someone fraudulently takes out a mortgage on property they don’t own. In two decisions released this week, the B.C. Court of Appeal said mortgages placed on property ... Full Article...

posted in News at Thu, 07 May 2009 12:15:07 -0600

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The most common question I am being asked lately is "do we sell first and then buy or buy first and then sell? " While I am always being asked this question I think what the real question is "If we sell first, will we be able to find a house we love or are we going to be stuck with settling for something that's just ok".  I have always been a careful person.  Both with my client's money and my own.  Too many times I have seen people sell their house for less than they should because they've purchase another home already.  In the last year I've sold a couple of homes that the current listing realtor wasn't able to sell and now the sellers are ünder the gun" to get their house sold because possession is just around the corner on their new house!  

I always believe in SELLING FIRST!  First of all, you don't know what possession date you need on the house you are buying until you figure out what the possession date will be on the house you currently live in.  Secondly, you don't know how much money from the sale of your current house you are going to be putting down toward your next house.

Although the market has picked up a bit in the last year or so, we are still in what I consider to be a buyer's market.  Because most people are selling first and then buying, the sellers of the house you are buying know this and they understand if you need a quicker than normal possession.  How quick of a possession can one expect when putting in an offer on their next home?  1 month.  Usually that's the minimum.  If the house is vacant, then obviously the sellers would be delighted for a quick possession... say two weeks?  In fact vacant homes are often open to a market where occupied homes cannot go and that is:  immediate possession!  When the house is vacant, the buyer can opt for a possession date of their choosing.  So to summarize:  sell first.  If you see a house you like and its seller occupied... just ask for the possession date you want... chances are you will get it!  If you are a seller and are concerned about selling your house vacant - don't be.  Check on the house daily during the winter months to monitor the furnace and hot water tank as well as shovelling the drive way but honestly sellers LOVE vacant houses.

When the market changes and it becomes a seller's market.... I'll let you know.  Then you are cosiderably safer to buy first and then sell... but until then... PLAY IT SAFE!  Don't get emotional!  Sell first.  Trust me... I'll find something you love!  Dory