Who’s The Appliance Criminal Among Us? -Part 1-

Whose The Appliance Criminal Among Us? from Jared Chamberlain on Vimeo.

Jared Chamberlain a Calgary REALTOR® vlogs and tells a story about stolen appliances in a home that his buyers moved into. If you are able to help him and his clients out in any way with tips or have a story of your own, please leave a comment below or head over to http://www.ChamberlainGroup.ca to tell your story! You can also email Jared at jared@tcgroup.ca.

Home Maintenance Tips

I received this list of great tips for ongoing maintenance for your home from Tom Connell of Whole House Inspections and wanted to pass it along to you all…

Upon Taking Ownership

Monthly

Spring and Fall

Annually

Your home is your single largest investment of your lifetime. Take these measures to protect your investment. For more home maintenance tips and energy saving advice contact your home inspector.

Why I Was Hibernating PLUS New $1000 Contest

Jared Chamberlain video blogs about why he has been hibernating over the past two weeks. As well, he talks about a brand new facebook photo contest that The Chamberlain Group will be launching and giving away $1000! Check out The Chamberlain Group on Facebook for more info.

Are You A Stalker?

Jared Chamberlain Video Blogs about how you may be a stalker. A Home Stalker that is. Do you find yourself driving by and ’stalking’ your new home after you’ve purchased it? It’s OK to admit it! If you would like to leave your comments or thoughts, please do so below or email Jared at Jared@tcgroup.ca.

Interest Rate Increase – Bank of Canada

The Bank of Canada raised their rates today to .5% which is up from .25%.  This is the first time since 2007 that the rates have increased.  You will most likely see the banks in canada change the prime rate to 2.50% from 2.25% which it has been at for some time.

Here’s a full article from Today’s Globe and Mail…

The Bank of Canada raised its benchmark interest rate for the first time since 2007, saying inflation is unfolding as expected and that spillover from the European debt crisis has been limited, while stressing there remains “considerable uncertainty” about an “increasingly uneven” global recovery.

With his much anticipated decision to lift the central bank’s overnight rate by one-quarter of a percentage point to 0.5 per cent after more than a year at a record low level, Governor Mark Carney has become the first central banker in the Group of Seven to tighten since the financial crisis and recession began in 2008.

In a statement on the move, however, Mr. Carney and his rate-setting panel sought to emphasize that investors should not necessarily interpret the increase as the first in an uninterrupted series.

“This decision still leaves considerable monetary stimulus in place, consistent with achieving the 2 per cent inflation target in light of the significant excess supply in Canada, the strength of domestic spending and the uneven global recovery,” the central bank said Tuesday. “Given the considerable uncertainty surrounding the outlook, any further reduction of monetary stimulus would have to be weighed carefully against domestic and global economic developments.”

Economists interpreted the Bank of Canada’s statement as a bucket of cold water on any remaining expectations for an aggressive tightening campaign, as policy makers nervously monitor economic and financial-market developments in the weeks leading up to their next decision on July 20.

“Those looking for a clear roadmap (or GPS) for the Bank’s tightening path will be sorely disappointed by today’s cautious statement,’’ said Doug Porter, deputy chief economist at BMO Nesbitt Burns in Toronto. “The Bank has left its options wide open even on the July rate decision.’’

Markets clearly took the same message, with bond yields dropping and the Canadian dollar slipping after the decision, “definitely not standard fare for a rate hike day,” Mr. Porter noted.

The loonie fell 0.8 per cent against the U.S. dollar as of 9:45 a.m. in Toronto, while the yield on two-year Canadian government bonds retreated to 1.71 per cent from yesterday’s 1.82 per cent.

Eric Lascelles, chief macro strategist with TD Securities, said while he expects a second straight 25-basis-point increase on July 20, “barring significant negative developments either domestically or globally,” further moves won’t be any bigger.

“What is clear is that despite the ultra-low level of the overnight rate, the present environment is not one conducive to outsized rate hikes of the 50-basis-point or larger variety,” Mr. Lascelles said.

The central bank’s statement touched on themes that will no doubt be front-and-centre at the Group of 20 leaders’ meeting in Toronto at the end of June, where Canadian officials have said they will be pushing for continued efforts to smooth out the global imbalances that exacerbated the slump that much of the world is still clawing out of.

“The required rebalancing of global growth has not yet materialized,” the bank said, contrasting “strong momentum” in emerging markets with recoveries in economies such as the United States and Japan that remains “heavily dependent” on low interest rates and government spending.

“In general, broad forces of household, bank, and sovereign deleveraging will add to the variability, and temper the pace, of global growth,”’ policy makers said.

The bank flagged the possibility of “renewed weakness’’ in Europe, where drastic spending cuts and higher borrowing costs will be the likely result of continent-wide debt problems, but said that, so far, the effects of the crisis on Canada have been “limited to a modest fall in commodity prices’’ and somewhat tighter financial conditions.

The Canadian economy, which on Monday posted a whopping 6.1-per-cent annualized growth rate for the first quarter – the fastest in more than a decade – is “unfolding largely as expected,’’ the bank said, led mostly by a hot housing market, higher incomes and a labour-market recovery that have helped fuel consumer spending.

Still, the central bank suggested that household spending and the economy will slow in the coming months as consumers deal with higher borrowing costs and try to limit or reduce their debt loads and as government stimulus spending fades. As a result, an “anticipated pickup in business investment will be important for a more balanced recovery,’’ the bank said.

Inflation, which the central bank has been watching closely for months, has been in line with policy makers’ projections to exceed 2 per cent this year and reflects a combination of strong domestic demand, slowing wage increases and “excess supply’’ leftover from the recession.

The central bank also said it is making a technical, yet significant, change to re-establish “normal functioning’’ of the overnight market, whereby its benchmark will return to halfway between the rate it pays to chartered banks to hold deposits and the amount that it charges private-sector lenders for loans.

Are You MLS Obsessed?

Jared Chamberlain video blogs about ways you can tell if you are “MLS Obsessed”. If you have any of these ’symptoms’ there is a good chance that your “MLS Obsessed”. So you need to check out our new MLS Search Engine for yourself…

http://www.ChamberlainGroup.ca

http://www.TheCalgaryRealEstateBlog.com

Creating Your First Home Together

Moving in together is an exciting time as you and your partner take the next step in your relationship.  Below is a seven step process that will ensure you and your partner are as happy with your new home as you are with each other.

Step 1: Deciding what type of home to buy. Choosing a type or style of home has a lot to do with lifestyle, it involves location, the amount of space required, and the amount of time you want to put into maintenance or renovations.  Before you begin to look for a home, spend the evening together each making a list of needed features in your new house. Ensure that your lists are separate.

Step  2: Talk through the differences – once your lists are complete come together and compare notes so that you come up with your ideal home. It is important that you discuss the different expectations that you both have of your new home so that you come up with an image of an ideal house that you are both satisfied with.

Step 3: Can you afford it? Before you start to look for your new home make an appointment with a mortgage broker or banker to review your collaborative financial situation. Based on this evaluation they will indicate the maximum mortgage you will be approved.  Ensure that you factor in your other monthly expense and your overall financial plan so that you don’t overspend on your new home.

Tip: Hold Off! Before you buy, hold off on getting a car loan or making any furniture purchases, as any big expenditures on credit will reduce your buying power and hurt your credit score.

Step 4: Ready! Once you have completed your due diligence, call a real estate professional that is a Buyers Specialist to represent you in your home purchase.  This agent will work on your behalf to find properties, arrange showings, monitor the market, and connect you with mortgage brokers.  The agent will also work on your behalf to negotiate the best price and terms.

Tip: A Buyers Specialist is Free. There is no cost to you to use a Real Estate Professional that is a Buyers Specialist, as the seller is responsible for the fee.

Step 5: Watch the Market- if you are interested in current market updates visit www.thecalgaryrealestateblog.com

Step 6: Ugh… packing- packing and moving can be stressful and time consuming. Before you move, make sure that you sort through your own items to eliminate duplicates; have your partner do the same.  This will reduce the hassle of moving unnecessary items and will make moving day a more enjoyable process.

Step 7: Kick up your Feet and Relax –you have moved into your new home.  Take time to enjoy living with your partner.

If you feel overwhelmed about buying or selling a house please e-mail Jared & Rebecca from The Chamberlain Group Sales@tcgroup.ca or visit us on-line at www.chamberlaingroup.ca

Are You Fit To Sell?

Are you planning on moving in the upcoming months or year and are wanting to look at selling your home, and are unsure if your home is fit to sell?

2010 is upon us and the market is ripe for sellers. The inventory of homes in Calgary is low, and not just because of the Christmas season, and prices have risen over the past months.

If this is you, watch this video and give us a call.

OUR PROMISE TO YOU…
“We will sell your home faster than the average Realtor in Calgary”

Real Property Reports

We received a letter from one of the lawyers that we work with that had some great info on Real Property Reports, and thought that it would be good to post this here for all to see.

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Whenever a property is bought or sold a Real Property Report (RPR) can be one of the most important components of the transaction. An RPR is a legal survey of the property, done by any Alberta land surveyor, showing its size and relation to the properties around it including neighboring properties, sidewalks and streets and other structures. The RPR also contains a survey of any permanent structures on (or sometimes near) the property, such as buildings, decks, fences, sidewalks, patios, garages, etc. The purpose of the RPR is to show compliance of the property and its buildings with the appropriate municipal bylaws. The RPR is usually a large piece of paper with two stamps affixed showing compliance, one in red (surveyor stamp) and one in blue (municipal stamp of compliance for The City of Calgary as an example). A RPR in Calgary typically cost more than $550.00.

A RPR does not have to be done every time a sale or purchase is made. If a property has an existing RPR showing compliance it may be acceptable if two conditions are met: that no structures have been substantially modified (added or removed) and second, that the bylaws pertaining to the property have not changed. A common scenario is that an RPR will exist for a property but the owners have since added a deck or a fence or some other structure. This would usually necessitate a new or updated RPR. Occasionally, bylaws will change and this may affect the status of an RPR. For example, bylaws concerning window wells and their distance from the property line have recently changed in Calgary creating noncompliance for some properties.

There are a number of regulations concerning the location of structures on a property in relation to the property line, for example, with the City of Calgary, the foundation wall of the sides of a house must be 1.2 metres or more from the side yard property line. These regulations can be quite detailed, for example, the City of Calgary in most cases does not permit eaves or eaves-troughs to extend onto the neighbor’s or the city’s land. It is quite common, especially on irregularly shaped lots, that fences will not be properly placed in relation to the property line. If a structure does not comply with the property line and encroaches onto the city property or onto a neighbor’s land, an encroachment agreement can be applied for. Depending upon the situation, a fee is paid to the City of Calgary (typically from $50.00-$525.00) and an Encroachment Agreement is made (or Relaxation Permit granted). An Encroachment Agreement is registered with Alberta land titles and applies for the lifetime of the particular structure in question (the structure cannot be rebuilt or replaced in the future). In some cases, the City of Calgary may not agree to an encroachment and may insist that the structure in question be made to comply. This may involve modification or removal of the structure and this can be a costly proposition.

Sellers of properties usually are required to initial a clause stating that the property is free of encroachments or that appropriate Encroachment Agreements are in place. A current RPR can protect sellers from future legal liabilities that may arise if encroachment issues are subsequently revealed. Buyers need to be aware of any potential encroachment issues as if they agree to buy property that is not in compliance they may inherit these issues and become legally and financially responsible to correct any encroachment issues. In terms of removal of a deck or sidewalk or driveway this can be expensive. Such issues may also arise when a bank considers a mortgage or a mortgage renewal for a property.

Other compliance issues may relate to satisfying the City of Calgary’s Land Use Bylaw (LUB). This document regulates and controls the use and development of all land and buildings within the municipal boundaries. It defines the range of uses considered appropriate for any particular site and sets out basic rules for site and building design.

Normally, certificates of compliance will be required when buying or selling property in order to show that the property and structures meet municipal bylaws. A certificate of compliance is obtained from the City of Calgary (cost is presently $93.00). This is not a requirement of the city but is a requirement on a Residential Real Estate Purchase Contract you will sign with your realtor. If an existing structure does not meet regulations the compliance certificate will be refused along with directions to be followed to correct the situation.

Title insurance is also an option with closing your real estate purchase or sale, in addition to or in lieu of a RPR. Cases are individual and you should get legal advice prior to finalizing to ensure your interests are properly protected.

Thank you again for considering us!

Sincerely,

Sandra Tillier

Time Seems Right to Buy…

Shaken consumer confidence due to the world economic crisis has clouded the fact that it’s a great time to buy, says a leading real estate investor.

“People need to be telescopic in their thinking, not microscopic,” says Don Campbell, president of the Real Estate Investment Network, which has more than 3,400 members across Canada.

“Look five to seven years from now. Eventually, oil is going to come back, albeit not super hot, but between $70 and $80 a barrel, which will do super well here and create jobs.”

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