Five Tips for a Successful Home Remodel

To view and search all Edmonton and area MLS listed homes visit us at:

http://www.findmyhouse.ca/

WASHINGTON, March 10 - As spring approaches, many home owners grow eager to start remodelling projects to update and refresh their surroundings. Before getting started, it’s a good idea to hire a professional remodeler for a workable plan and better results, according to the National Association of Home Builders (NAHB).

“A professional remodeler knows how to translate a home owner’s dreams and budget into a beautiful reality,” said Donna Shirey, CGR, CAPS, CGP, President of Shirey Contracting in Issaquah, Wash. and 2010 chairman of NAHB Remodelers. “They have the expertise and skills to satisfy a customer while keeping the budget in check.”


Here are five tips for planning a successful home remodel that you can enjoy for many years to come:

1. Compile a list of home remodelling ideas and draft a budget for the work. You likely have some projects in mind, such as modernizing the bathroom, renovating the kitchen, replacing windows or repairing the roof. Prioritize your wish list: Maybe you don’t have the budget for your dream remodel, but professional remodelers can maximize your dollars by doing the work in phases, suggesting budget-friendly products and materials, and implementing creative design solutions.

2. Look for a professional remodeler to help plan the project. Start by searching NAHB’s Directory of Professional Remodelers at www.nahb.org/remodel. You’ll get a list of nearby remodelers to contact. Asking friends and neighbours for names of qualified remodelers will also help you find a match for your project.

3. Check the references and background of the remodeler. After you start speaking with remodelers and find one or two who match your project’s needs, be sure to conduct some background research by checking with the Better Business Bureau, talking to their references, and asking if they are a trade association member (such as NAHB Remodelers). Remodelers with these qualities tend to be more reliable, better educated, and more likely to stay on top of construction and design trends.

4. Agree on a contract. Talk over the details of the home remodelling project and begin reviewing the contract. You’ll want to check the remodelers’ insurance coverage, ask about any warranties on their work, know who is responsible for obtaining any building permits, and understand the process for making any change

5. Take advantage of the energy efficiency tax credits. If your remodel includes replacing windows or doors, adding insulation, installing new roofing, upgrading heating or air-conditioning units, updating the water heater, or installing energy generating products (such as solar panels, heat pumps, or wind turbines) then you can take advantage of federal energy efficiency tax credits through 2010 that will help defray costs and maximize your remodelling budget while reducing home energy bills. (Learn more at www.nahb.org/efficiencytaxcredit.)

For more tips on planning a home remodel or hiring a professional remodeler, visit www.nahb.org/remodel.

Source: HGTVPro.com

Edmonton Real Estate Statistics – March 22, 2010

To view and search all Edmonton and area MLS listed homes visit us at:

http://www.findmyhouse.ca/  

As I anticipated, the trend is continuing. The number of listings coming on the market is outpacing the number of sales. As of this morning there were 2,127 single family dwellings in Edmonton proper on the market an increase from last week's inventory level of 2,003.

In the last 30 days we had 615 single family dwellings sold in Edmonton proper. That number is actually down from last week's number of sales of 619.

This gives us listings to sales ratio of 3.46:1 up again from last week's ratio of 3.24:1. So the pressure for valuations to rise is easing and could very well go the ratio of 4:1 very soon. If we break that we can start seeing valuations drop.

Please call me if you have any questions about this, or anything else related to Real Estate.

I would love to help you out. (780) 634-8151

Serge Bourgoin, Founding and Managing partner of Team Leading Edge at RE/MAX Elite

Team Leading Edge... Leading the way with extraordinary service

*Open House!** South-East Edmonton

To view and search all Edmonton and area MLS listed homes visit us at:
www.FindMyHouse.ca

**Open House!**

39 Kiniski Cres
Sunday March 21
1pm – 4pm

View the virtual tour here: http://www.youtube.com/watch?v=F8YrGcwqZ3o

Welcome home! This beautiful brightly lit 4 level split has been nicely upgraded and is perfect for your family’s next home. This home features a NEW kitchen including new dishwasher, cabinets, countertops, fixtures, flooring, and breakfast nook. Lots of natural light from the large windows in the living room. The formal dining area is great for entertaining and has track lighting. Renovated upstairs bathroom. Fully finished basement with large family room and woodburning fireplace, full bathroom, and bedroom. Large landscaped fenced pie lot with deck. Located on a quiet cul-de-sac with other families. New shingles and hot water tank. Close to both public and Catholic schools, many parks, shopping, and more. What else can you ask for? Pack your bags and welcome home!

1047 SqFt 4 Level Split
4 Bedrooms 2 Bathrooms
Price: $314,900 MLS: E3213579

If you have any questions please call Team Leading Edge at (780) 634-8151

To view more pictures click here

*Just Listed* Walk-Out Custom Built 2 Storey in West Edmonton!

To view and search all Edmonton and area MLS listed homes visit us at:
www.FindMyHouse.ca

*Just Listed!*

Beautiful 2 storey custom built Landmark Home with walkout basement with views of the lake and fountain. As you walk in to this brightly lit, spectacularly clean, home you immediately realize its wonderful layout. Enjoy having company over while you entertain them in the living room with gas fireplace, or if you’d wrather have movie nights with friends there is a large bonus room with vaulted ceilings overtop of the double attached garage. The big bright kitchen boasts lots of maple cabinetry and counter space, a large centre island, and an eating nook overlooking your maintenance free deck with view of the lake. Main floor laundry gives you that extra convenience you’ve been looking for. Upstairs you will find 3 generously sized bedrooms, full bathroom, as well as the large bonus room. The spacious master bedroom features a 4 piece ensuite, complete with soaker tub and seperate glass-pane shower stall. Great quiet location close to Whitemud & the Anthony Henday. Buyer to verify all info and measurements.


1931 sq.ft. 2 Storey
3 Bedrooms 2.5 Bathrooms
Price $474,900 MLS#: E3214908

For more pictures view at http://www.FindMyHouse.ca/

Call us at (780) 634-8151

Team Leading Edge… Leading the way with extraordinary service!

Serge Bourgoin
Re/Max Elite
(780) 406-4000

*Just Listed* 2 Bedroom Townhouse in South-East Edmonton

To view and search all Edmonton and area MLS listed homes visit us at:
www.FindMyHouse.ca

*Just Listed!*

Nestled against the scenic Mill Creek Ravine this 2 bedroom bungalow townhome has plenty to offer. The bright living room features a large window, track lighting, and a corner gas fireplace - great for entertaining. The kitchen has plenty of cupboards and counterspace, and looks very clean with matching black appliances including a dishwasher for convenience. The kitchen overlooks the dining area, which offers more track lighting. Down the staircase with glass panel inserts you will find the master bedroom with walk-through closet and 4 piece ensuite. The second bedroom also has a walk-in closet and is spacious. On the lower level you will find room for your computer desk, as well as the laundry room. This townhome features a maintenance free duradeck with glass pane railings, as well as 2 assigned parking stalls directly outside of the unit. Close to many amenities and walking trails. Welcome home! All measurements and information to be verified by purchaser.

671 sq.ft. Townhouse
2 Bedrooms 2.5 Bathrooms
Price $229,900 MLS#: E3214946

For more pictures view at http://www.FindMyHouse.ca/

Call us at (780) 634-8151

Team Leading Edge… Leading the way with extraordinary service!

Serge Bourgoin
Re/Max Elite
(780) 406-4000

Edmonton Real Estate Statistics - March 15, 2010

To view and search all Edmonton and area MLS listed homes visit us at:

http://www.findmyhouse.ca/

Well as I expected to see the inventory level is starting to creep up as we get deeper into our spring marketplace. As of this morning there were 2,003 single family dwellings listed on MLS in Edmonton proper.

In the last 30 days there was 619 single family dwellings sold in Edmonton proper also an increase from last week’s totals. This however gives us a listing to sales ratio 3.24:1 which is an increase from last week’s ratio of 3.06:1.

This is not a trend that I am liking to see at the moment as that ratio get closer and closer to 4:1 then we wiil see the market become neutral. If the ratio goes over that number then we might even see valuations drop again.

With the new mortgage rules coming into effect on April 19, 2010, and the potential for an interest rate increase shortly that might negatively affect the market.

If you a buyer you will want to get approved and buy before the April 19, 2010 mortgage rule changes as it will reduce the amount of mortgage you will be able to get.

Edmonton Time Change

To view and search all Edmonton and Area MLS listed homes visit us at:

http://www.findmyhouse.ca/

Just Listed in South-East Edmonton!

To view and search all Edmonton and area MLS listed homes visit us at:
www.FindMyHouse.ca

Welcome home! This beautiful brightly lit 4 level split has been nicely upgraded and is perfect for your family's next home. This home features a NEW kitchen including new dishwasher, cabinets, countertops, fixtures, flooring, and breakfast nook. Lots of natural light from the large windows in the living room. The formal dining area is great for entertaining and has track lighting. Renovated upstairs bathroom. Fully finished basement with large family room and woodburning fireplace, full bathroom, and bedroom. Large landscaped fenced pie lot with deck. Located on a quiet cul-de-sac with other families. New shingles and hot water tank. Close to both public and Catholic schools, many parks, shopping, and more. What else can you ask for? Pack your bags and welcome home!

1047 SqFt 4 Level Split

4 Bedrooms 2 Bathrooms

Price: $319,900 MLS: E3213579

To arrange a viewing of this property please call us at (780) 634-8151

Team Leading Edge... Leading the way with extraordinary service

To view more pictures click here

New home prices climb again in January

To view and search all Edmonton and area MLS listed homes visit us at:
www.FindMyHouse.ca

OTTAWA (Reuters) - New home prices in Canada kept climbing in January, rising 0.4 percent from the previous month as expected, according to Statistics Canada on Thursday.
On a monthly basis, the housing-only component of the new housing price index rose by 0.5 percent and the land-only component edged up 0.1 percent.

New home prices firmed 0.1 percent in January from a year earlier, the first year-over-year rise since December 2008.

Despite nationwide gains, prices have been falling in Western Canada, which saw huge price spikes prior to the recent economic crisis.

"Declines slowed in most of Western Caada's metropolitan regions as new housing prices returned to the price levels observed prior to the highs registered at the end of 2007 and the beginning of 2008," Statscan said.

The Canadian housing market slumped during the recession last year but never underwent a U.S.-style collapse. Strong sales and price gains in recent months have led to worries of a made-in-Canada housing bubble and prompted the government to tighten mortgage lending rules in February.

Source: Reporting by Louise Egan; Editing by James Dalgleish - MSN Money

Just Listed - Executive Downtown Condo

To view and search all Edmonton and area MLS listed homes visit us at:
www.FindMyHouse.ca

Least expensive unit in the building! Welcome the prestigious architecturally designed luxury highrise - The Illuminada II tower built in 2008. This one bedroom condo boasts the finer things in life - a modern open layout corner unit with floor to ceiling low-e windows accompanied by custom designer blinds, a private balcony with views of downtown, and a highly secure triple-fob based building with access only to your floor. 9 foot ceilings and rich walnut hardwood flooring grace this home, with high-end finishes, Kohler fixtures, and high-end stainless steel appliances. A gas fireplace adds character and depth to any conversation, while you can also keep cool with the central air conditioning. Enjoy the convenience of in-suite laundry and storage, heated underground parking with storage locker, and being steps away from downtown and the river valley! Your visitors also have secure heated underground parking. All this PLUS low condo fees. Information and measurements to be verified by purchaser.

678 sq ft Condo

1 Bedroom 1 Bathroom

Price: $299,900

For more pictures click here

Call us at (780) 634-8151

Team Leading Edge...
Leading the way with extraordinary service!

Edmonton Real Estate Mortgage Rates - March 09, 2010

To view and search all Edmonton and area MLS listed homes visit us at:

www.FindMyHouse.ca

To view current mortgage rates just click on the following link:
http://blog.findmyhouse.ca/2010/03/09/real-estate-mortgage-rates-%e2%80%93-march-9-2010/

Changes to Mortgage Qualification Rates

To view and search all Edmonton and area MLS listed homes visit us at:

www.FindMyHouse.ca

We have received an update from Canada Mortgage and Housing Corporation (CMHC) regarding the upcoming changes that we informed you about in mid-February. To briefly recap, fixed rate mortgages with terms of less than 5 years, as well as variable rate mortgages, will be reviewed for approval (qualified) based on 5 year rates, beginning April 19, 2010. It was not clear at the time of the announcement if the 5 year rates used for qualification would be discounted rates (currently 3.89%) or posted rates (currently 5.39%).

CMHC has now clarified that the qualifying rate for the affected terms will be the greater of the “benchmark rate” and the contract interest rate. CMHC defines the benchmark rate as the Conventional Mortgage - 5 Year rate published by the Bank of Canada (series 121764), which is currently 5.39%. The following are updated examples that illustrate the upcoming changes:
Fixed rate mortgages with terms of less than 5 years will be qualified based on the greater of the benchmark rate and the contract interest rate, rather than the current method of qualifying clients based on their contracted interest rate. For example, a client selecting a 3 year fixed term today would qualify based on 3.40% (some lenders offer lower “sale” rates), the new criteria will instead require the client to qualify based on the 5 year benchmark rate (currently 5.39%). If however the client selected a 5 year fixed term (or longer), the client would qualify at the contract rate (currently 3.89% for a 5 year term).

Variable rate mortgages will also be qualified based on the greater of the benchmark rate and the contract interest rate. By comparison, variable rate mortgages are currently reviewed based on 3 year rates. Assuming that posted rates are used in both cases, a client will need to qualify based on the 5 year posted rate (currently 5.39%), rather than the 3 year posted rate (currently 4.30%), which reduces the maximum amount that a client can borrow.

Changes to CMHC policies re: Self-Employed borrowersEffective April 9, 2010, self-employed borrowers with more than 3 years in the same business will be required to provide third-party validation of income (e.g. financial statements, contracts, T4s, Notice of Assessments, etc.). This means that the above category of self-employed borrowers will need to fully support their personal income with adequate documentation when obtaining a mortgage.

Source: Shirley Froese Mortgage Agent CENTUM Elite Mortgage Corp.Ph: 780-940-4813

Edmonton Real Estate Statistics - March 08, 2010

To view and search all Edmonton and area MLS listed homes for sale visit us at:

www.FindMyHouse.ca

Well the market is doing exactly what I was expecting it to do as we get further into this spring market place. As of today there are 1,829 single family dwellings for sale in Edmonton proper which is up from last week. As we get closer to the spring months we will see the number of listings for sale increase.

In the last 30 days there were 598 single family dwellings sold in Edmonton proper. That give us a listing to sale ratio of 3.06:1 which is a slight increase from last week. That is still lower than our neutral point indicating upward pressure on valuations.

However it might be starting a new trend where we might see a more neutral market if the number of listings coming on the market continues to increases at a faster rate than the number of sales.

Edmonton Real Estate Statistics - March 02, 2010

To view and search all MLS listings in Edmonton and area visit us at
www.FindMyHouse.ca

Well, it looks like we are going to have an early spring this year and the real estate market is reacting accordingly coming on strong early as well.

As of the morning there were 1,727 actives single family dwellings on the market in Edmonton proper on MLS, which is a slight increase from last week's number of 1,669. More and more people are putting their homes on the market on a daily basis. This gives buyers more selection, but I am concerned that the increase in supply will start to surpass the demand at which point that will negatively affect valuations.

At this moment we are just fine. The sales are increasing at a faster rate than the supply. In the last 30 days there were 584 single family dwellings sold in Edmonton proper - an increase from last week's number of 517. More importantly, the listings to sales ratio is now below 3:1 at 2.96:1. With that kind of ratio I expect to see valuations to start to increase immediately. That is bad news for buyers and they will need to buy right away before prices rise again.

Please call me if you have any questions about this, or anything else related to Real Estate. I would love to help you out. (780) 634-8151

Serge Bourgoin founding and managing partner of Team Leading Edge at RE/MAX Elite

Team Leading Edge… Leading the way with extraordinary service

Property shopping on a budget

To view and search all MLS listings in Edmonton and area visit us at

www.FindMyHouse.ca

Tips from the professionals on how to make your mark in real estate investing

With the Canadian real estate market - be it residential, industrial or commercial - showing resiliency in the wake of the recession, property as an asset class is drawing investors with the promise of higher returns on hard assets.

After watching their wealth evaporate on the stock market, many investors are drawn to the property market because they want to be able to look at what they just bought, said Queen's University professor John Andrew, who specializes in investment real estate.

"Historically real estate has been a haven in times of inflation," he said. "It's also been a place where people feel they have an understanding of what they've just done - they can walk down the street and see their purchase."

That said, it can be a risky proposition. If this recession has taught us anything, it's that property values can plummet, and fast. You just can't buy a building and walk away. But if you have the nerve, here are some tips from the professionals on how to make your mark in real estate.

Getting started

Real estate investment trusts are the most passive way to get involved. These companies have units that are publicly traded, which means you own a share of the REIT rather than a piece of real estate. The sector is small in Canada, with fewer than 20 publicly traded REITs, but the well-funded companies have been actively adding properties to their portfolios in a bid to generate more income for their investors.

The first few weeks of this year haven't been particularly great for the REITs, with the S&P/TSX Capped REIT index (which tracks the companies) gaining 2 per cent, but it's still above the overall market's .9-per-cent decline. For the past 12 months, the index has gained 60.8 per cent.

"This is a good way for a passive investor to get involved with real estate with fewer of the headaches," Prof. Andrew said.

A little deeper

While the $12-million office building around the corner keeps catching your eye, maybe you find the price tag a little hefty. If only there was a way you could pool your resources with other cash-strapped millionaires.

Turns out, there is. Brokers around the country are constantly putting together syndicates - groups of private investors who want to pool their money and share ownership of attractive properties.

Jason Shiner of Ottawa's District Realty said most deals involve investments of $100,000 to $250,000. The key is to ask questions before joining.

"You want to look at who you are partnering with, what rules there are about who can join, what are the exit strategies," he said. "You don't want to be the weakest link, or the strongest, you all want to have about the same amount at stake."

For the big player

These investors - and if you're one of them, you probably already know this - tend to purchase retail and industrial properties and keep them in the family. When they want to do a deal, they pick up the phone and call someone such as Michael Turner, an executive vice-president at CB Richard Ellis who specializes in private investments.

The country's most expensive cities aren't their primary targets. They opt instead for smaller markets where pension funds and real estate investment funds couldn't be bothered to go shopping.

"They prefer places like Atlantic Canada, or smaller Prairie cities," Mr. Turner says.

Joys of rental properties

The dream of home ownership isn't the motivating factor for those buying rental properties - it's the dream of a steady stream of cash as dream tenants make their payments on time and take extra care not to scratch the hardwood.

Of course, you're just as likely to hand over the keys to someone who looks trustworthy but then decides that paying rent is for chumps. Worse yet, your unit could sit empty for months as expensive classified ads fail to draw anyone to your doorstep.

But for this exercise, let's ignore the nightmare scenario and focus on the deal. Interest rates are at all-time lows, which means more of the cash that is generated each month can go toward paying off your mortgage. And with a 5-per-cent down payment, the barriers to entry are actually quite low (one caution - you carry that mortgage on your personal credit report).

And unless you want to spend a lot of time doing maintenance, a property manager is a must.

"If you are not handy, then get a manager," Ottawa property investor Chris Jurewicz said. "If you do not want to be tied to your cellphone 24x7, you need one. It sounds like a lot of money at 4 to 6 per cent of revenue, but see if you would want to do it for that amount of money."

Source: Steve Ladurantaye of The Globe & Mail (www.TheGlobeAndMail.com)