Ben Officer-REALTOR®

The more you know about the best way to reach a goal, the more likely you are to get the result you want. So, whether you’re hunting for a new job, assembling a backyard BBQ, or training for a 3 mile run, you’ll want to use a proven process to help you get there.

That certainly holds true when shopping for a new home.

There is a proven process to getting the home you want, in the neighbourhood you want, at a price you can afford. Here are the highlights:

1. Get Ready

There’s a lot you must do before you pack your energy snacks in the car and go looking at homes. If you own your current home, you must prepare that property for sale. You should also get financing for a new home pre-approved, so you know exactly how much you can afford.

2. Go shopping

Your next step is to view the right homes currently available on the market. It’s a good idea to make a wish list of property and neighborhood features you’re looking for in a new home. You may not be able to get everything you want, but you can probably come pretty close.

3. Make an offer

When you see a home you like, the first thing you’ll need to do is to make an offer. This can be tricky especially if there are other interested buyers.

4. Get an inspection

Always get the home checked out by a qualified home inspector. A property may have issues, such as a foundation leak, that are not obvious during a viewing.

5. Prepare for the move

Once you’ve made the purchase, you need to arrange for moving and deal with other details, such as utilities, telephone, mail forwarding and so forth.

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The Advantages of being Pre-Approved for a Mortgage

One of the best things you can do to ensure you get the home you want is to arrange for financing before you go shopping. This is often referred to as getting “pre-approved”.

Getting pre-approved simply means that your lender has calculated how much of a mortgage they’re willing to offer you, depending on your down payment and current financial situation.

There are two advantages to having a pre-approved mortgage. First, you know exactly what you can afford when shopping for a new home. Second, when you make an offer, you’re likely to be taken more seriously.

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Want a smooth home buying process? Call me today.

Ben Officer, CD   REALTOR®

RE/MAX Real Estate (Edmonton)

I am posting this free information session on my blog so it can get the widest distribution. The REALTORS® Association of Edmonton is hosting this without REALTORS® present, to give you

a comfortable, informative session. No pressure.

Ben

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Home Buyers Seminar

Feedback from our last seminar - over 95% of registrants surveyed found the information presented at the Home Buyers Seminar useful, easy to understand and made them more comfortable about the home buying process.

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There have been a whole lot of changes in the Edmonton real estate market over the last little while. So as a perspective home buyer, where do you start if you've never bought a home before? Or what if it's been a long time since you last purchased a property? Do you know all of the steps required?

The REALTORS® Association of Edmonton is pleased to offer a free, no pressure Home Buyers Seminar to familiarize you with the home buying process. Representatives from the mortgage, home inspection and legal communities will be joining a REALTORS® Association spokesperson to present unbiased advice and information.

Join us on Tuesday, March 2, 2010 at 7:00pm at the REALTORS® Association of Edmonton Auditorium at 14220 112 Avenue. Light refreshments will be served.

Pre-registration is required. Click here to register. You can also contact the REALTORS® Association at 780-453-9350 for more information.

Your name and e-mail address are being collected to provide registration numbers and to remind you of the event (via reply e-mail) and the files will be discarded after the event.

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Ben Officer, CD REALTOR®

RE/MAX Real Estate (Edmonton)

The deadline for the changes that were recently brought in by the Canadian government to put some caps on sectors in the housing market is April 19th, 2010.

Now, that doesn’t mean some banks and lenders haven’t already implemented the changes in advance of that date.

One of the bigger changes was that CMHC (Canadian Mortgage and Housing Corporation) will not insure the mortgages of people who are buying properties that will NOT be owner occupied. Also known as Revenue Properties.

The theory that many investors followed was to purchase revenue properties with a 5% down payment, pay the CMHC fee, and have their tenants pay down the mortgage. With just 5% down, they had more money available to buy more properties.

Did or will that modus operandi cause the market to bubble? Maybe. Maybe not. I don’t know. All I know is, it made for more buyers, then more sellers could move on with their plans.

Should you try to find a lender that will still allow you to do the 5% down to beat the deadline? I suggest you take a hard look at what you want to accomplish. When you do have to renew the mortgage on a revenue property in say, 5 years, the rates will not be as low as they are right now.

Making the requirement to put a minimum 20% down payment on revenue properties was a sound fiscal move for the future, according to many analysts.

Planning and preparation is always prudent, no matter what the situation is.

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The inventory of homes is at a low-level right now in some segments of the Edmonton and St. Albert housing and condo markets. If you are waiting until “Spring” to list your home, give me a call now!

It could be to your benefit financially to sell your home before the spring rush.

Ben Officer, CD   REALTOR®

RE/MAX Real Estate (Edmonton)

February 24, 2010

Kelowna, BC – Lack of inventory will be the greatest challenge facing housing markets across the country this Spring, according to a report released today by RE/MAX.

The RE/MAX Market Trends Report 2010, which examined real estate trends and developments in 16 markets across the country, found that unusually strong activity during one of the traditionally quietest months of the year has led to a sharp decline in active listings in 81 per cent of markets surveyed. The threat of higher interest rates, tighter lending criteria, and in British Columbia and Ontario, the introduction of the new Harmonized Sales Tax (HST) have clearly served to kick-start real estate activity from coast-to-coast, prompting an unprecedented influx of purchasers. As a result, 87.5 per cent of markets posted an increase in sales in January. Average price appreciated in 81 per cent of markets surveyed.

“Affordability is the catalyst for the vast majority of purchasers in today’s housing market,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. “While homeownership is still within reach in many major centres, levels are slipping. There is a growing sense, on both sides of the fence, that the time to act is now.”

Markets experiencing the tightest inventory levels include Toronto (- 41 per cent); Kitchener-Waterloo
(-33 per cent); Ottawa (- 30 per cent); Victoria (- 30 per cent); Greater Vancouver (- 27 per cent); Halifax-Dartmouth (- 19 per cent); London-St. Thomas (- 18 per cent); Regina (- 16 per cent); and Winnipeg (- 13 per cent). Conditions were still balanced, but starting to tighten in Calgary, Edmonton and Saskatoon, particularly in the single-family detached category.

The highest year-over-year sales gains were reported in Greater Vancouver (152 per cent), Kelowna (121 per cent), Greater Toronto (87 per cent), Victoria (69 per cent), Hamilton-Burlington (58 per cent), London-St. Thomas (55 per cent) and Calgary (47 per cent). Western Canadian cities dominated the list of centres with the highest increases in price appreciation. These included Victoria at 25.5 per cent, Kelowna at 22 per cent, Greater Vancouver at 19.5 per cent, and Winnipeg at 17 per cent. St. John’s (23 per cent) and Toronto (19 per cent) were also among the frontrunners for price growth.

“There have never been so many motivating factors in play at once,” says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. “We’re in for a heated Spring market that will, in all probability, spill over into the summer months as the window of opportunity draws to a close. The supply of homes listed for sale has been drastically reduced, housing values are once again on the upswing, and banks and governments are moving in unison toward stricter lending policies.”

While buyers are taking advantage of favourable conditions, sellers too are reaping the rewards. Competing bids are a factor in the marketplace once again, with well-priced listings—especially at the entry-level price point—experiencing multiple offers. Properties priced at fair-market value will likely sell quickly for top dollar. The overall pressure on sales and price is significant across the board – and it’s not likely to subside unless more inventory comes on-stream.

“The level of frustration is growing, as pent-up demand builds,” says Polzler. “For every successful offer, there are those that will walk away empty-handed. They’re thrust back into the buyer pool and the process starts all over again. Some buyers are upping the ante, while others are considering alternate housing options. Still, purchasers remain cautious in their bids, with most careful not to max out debt service ratios.”

Recent revisions to lending criteria will add fuel to the fire in the short term. Buyers considering a variable rate mortgage will step up their plans for homeownership in the next month or so just to get in under the wire. In the longer term, buyers will adjust, but move forward. Compromise has long been a reality—particularly in the larger centers. This simply means they may go smaller or further in their pursuits.

“It’s been a 180 degree turnaround from this time last year,” says Ash. “It’s clear that real estate from coast to coast has roared back to life and markets are once again firing on all cylinders. The vast majority of markets are now recovered and fully-evolved, with all segments working in tandem. At the luxury price point, activity was brisk in seventy-three per cent of centers surveyed, with momentum ramping up in the remainder. Opportunity exists in some areas, but the question is for how much longer?”

RE/MAX is Canada’s leading real estate organization with over 17,000 sales associates situated throughout its more than 677 independently-owned and operated offices across the country. The RE/MAX franchise network, now in its 37th year, is a global real estate system operating in more than 70 countries. Over 6,700 independently-owned offices engage nearly 100,000 member sales associates who lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral, and asset management.

For more information, visit: www.remax.ca.

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Ben Officer, CD   REALTOR®

RE/MAX Real Estate (Edmonton)

Canada Mortgage and Housing Corporation Insured Mortgages (CMHC)

February 16th 2010:

Jim Flaherty, Canada's Minister of Finance, announced new lending guidelines for CMHC backed mortgage loans in an announcement earlier Tuesday.

The new rules are as follows:

1.  All borrowers must qualify for a mortgage using the five year fixed rate regardless of the term chosen.

(Example: if you wish to take out a 1 year mortgage at 2.65% you will still need to qualify at the 5 year closed rate of 3.89%)

2.  When refinancing a home, Canadians will only be able to refinance up to 90% of the value instead of the previous 95%.

3.  If you want to purchase a revenue property, CMHC will no longer insure you. You'll need to put 20% down and take out a conventional mortgage.

These changes come into effect April 19th 2010.

What has NOT changed:

*  You can still purchase a property with 5% down!
*  You can still do a 35 year amortization!
*  You can still have GDS/TDS ratios up to 44% if you have a credit score over 680!

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I would like to thank Natalie Wellings of Mortgage Success (http://YourEdmontonMortgage.com) for itemizing this info.

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Ben Officer, CD   REALTOR®

RE/MAX Real Estate (Edmonton)

Recently I was asked the question: “Ben, should I keep my house fully heated after I move out and it’s vacant? I will be spending money to heat it for an hour or two of showings each day or two.”

My answer was quick and to the point. “How would you feel walking into a cold house and having to get cold feet walking around in your socks?” Not too kindly I bet.

(Also check with your insurance company, they may have rules that must be followed too)

I have shown houses on occasion that are listed and vacant in Edmonton and St. Albert, where the owner decided to turn the heat way down or even off completely. Boy does it get cold in there. And does it ever turn OFF a potential buyer.

They literally get a cold feeling for the house, right off the bat.

I suggest to my sellers:

1. Have the heat set to a normal temperature during any time the home may be shown.

2. Check to make sure the keys work properly in the locks.

3. Check that all the lights work and that the bulbs are not burnt out (check again every week or so)

4. Ensure the furnace filter is changed. It’s a sign to some, of poor home maintenance.

It’s best to sell your home before you move out but if it doesn’t please keep these points in mind.

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If your thinking of selling your home this spring, maybe you should think sooner rather than later. There is a shortage of homes available on the market right now. It might pay to get a jump on the spring market.

Call me to find out more.

Ben Officer, CD   REALTOR®

RE/MAX Real Estate (Edmonton)

A group known as Demographia International has released a large study of housing affordability around the world. They make the assertion in the work, that housing density has a large effect on housing affordability.

They took a look at the housing affordability of many real estate markets around the world, and state that Vancouver is the most unaffordable city in the world for the average person/family to purchase a home.

Edmonton is ranked above the median (#19 of Canadian cities – Vancouver is tops at #29, with Calgary at #22) 

Edmonton's average real estate price (all types) was $286,700 with a median income of $70,300.

Calgary’s average real estate price (all types) at $353,900 and median income of $76,500.

Vancouver’s average real estate price was $540,900 and a median income of $58,200. 

You can find the .pdf document of the study at: http://www.demographia.com/dhi.pdf

Taking into account the price of homes and condos in Edmonton and area, with the median household income we have, this makes Edmonton only slightly to somewhat unaffordable. Not a great statistic and definitely something to keep an eye on.

If city planners and city councils use this information in the future to apply to new developments, then they can help to keep housing affordable for those who want and need it.

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Looking to relocate outside the Edmonton, St. Albert area? Just fill-out my “Send Relocation Info” page on RightHouseRightTime.com or BenOfficer.ca and I can get you in touch with a good Realtor in your new area.

Ben Officer, CD   REALTOR®

RE/MAX Real Estate

The Edmonton, St Albert, and area real estate market has seen a bit of an up and down oscillation in 2009. The number of homes for sale (listings) on the MLS went down to 1118 from 1894 in November.

The average price of a single family home decreased by about $2600 and condominiums increased by about $12000. This could be just another seasonal adjustment, with a bit of a change in the homes and condos sold.

The average sale price for a Single family home started out at $352,689 in January, and finished at $366,761. Average Condo sale prices started at $238,535 in January, and finished at $244,174.

On the whole, I think the market still has done much better than a lot of people thought it would in 2009.

Here is the chart comparing the months average prices, for 2009.

The announcement from the REALTORS® Association of Edmonton forecast was  “We anticipate sales of about 21,000 units in 2010

which is up 10.5% from the 19,000 residential properties sold in 2009.”

The market should continue to improve as 2010 carries on, although condos look they will remain flat in pricing this year.

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If you would like to find out what homes are selling for in your neighbourhood, just go to www.BenOfficer.ca and click on the “Market Snap-Shot” tab.

Fill-in the info and you will get the report. Tooooo easy.

Ben Officer, CD   REALTOR®

RE/MAX Real Estate

I’m going on a scuba-diving trip soon to Florida and I just don’t know what to do!  I’m a full-service Realtor and I want to be able to answer my Blackberry, whenever I need to.

Do they make a water-proof Blackberry Storm? Good to 100 feet?

Maybe they have a blue-tooth device for doing that?  Will the blue-tooth attract sharks?????

Help me, please…….

         Ben

Happy New Year and Welcome to 2010!!! I hope everyone had a good holiday season.

I used to be someone who didn’t worry about getting a permit from the city for new installations in my home. I am fussy about it being done right and I figured I didn’t need to spend the time, effort, and money when I knew it was done safely.

I was wrong for a few reasons.

The requirement to get permits not only protects you but it also protects others who come into your home, and subsequent owners of your home. Is this important you say? You betcha!

For example, a home I had in North Edmonton didn’t have any power to the detached garage when I bought it, so I had a licensed electrician come in and do it (to a higher standard than what the building code requires). He said don’t bother with a permit. Well, a while later I decided it’s best I should get a permit. The inspector from the city was, quite rightly, not very happy everything was done and buried. Also, the permit cost me twice as much, as a just punishment for not doing it in the first place. Lesson learned.

Here are a few more reasons to get the permit first:

- a friend of mine is have a problem with his insurance company not paying for water-damage from a burst pipe in his fully-finished basement. They say the work was not permitted by the City of Edmonton, so they aren't going to pay!

- permits help to ensure the work is done to a safe and acceptable standard for everyone’s safety.

- permits are kept on file with the city, so if there are any future questions about them you can consult the city planning and development office to see what permits were taken out.

Information on Permits can be found at:

For the City of Edmonton,  you can go to: http://www.edmonton.ca/bylaws_licences/licences-permits.aspx

For the City of St. Albert you can go to: http://www.stalbert.ca/development-permits

In my opinion, getting the permit for whatever work you are doing or having done, just makes sense. Please do the research on what permits are required, before you start the work.

If you have any comments or input, please feel free to comment.

Ben Officer, CD   REALTOR®

RE/MAX Real Estate

A friend of mine and his wife are well into the development of a new country residential acreage subdivision.

It is over 150 acres of rolling, treed land located about a 12 to 15 minute drive west of St Albert.

You might not see any new country acreages like this around Edmonton and St Albert in the future, because the Capital Region Board (and its member municipalities) are putting restrictions on these developments. (See my blog post from Nov 20, 2009)

 Victorian Ridge Subdivision Plan.pdf     and   Victorian Ridge Lot Pricing.pdf

The website for this development is: http://www.VictorianRidge.com

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If you are interested in acreages in the area around Edmonton and St Albert, please give me a call.

Ben Officer, CD   REALTOR®

RE/MAX Real Estate

As a kid growing up in southern Ontario, we used to go out to a farm near Winterbourne, Ont to cut a Christmas tree each year. It was an enjoyable outing.

Then along came a busy life, artificial Christmas trees that look ….okay, and are easy (mostly) to put up and take down. Although, I’ve heard that they are not very environmentally friendly.

Fast forward to current times. Christmas tree lots sell pre-cut trees that are easy to buy, already cut and wrapped, ready to take home. Nothing wrong with them. They also help to raise money for some worth-while organizations in Edmonton and St. Albert.

I still like to go out as a family (okay our 15 year old was working at McDonalds so she couldn’t make it) to cut a nice Balsam Fir at Gunlor Pines Tree Farm, northwest of St. Albert.

The weather was quite nice this year. Last year, it was about –30 C when we went there. Brrrrr.  My wife Lisa and daughter Natalie are posing with the tree, which is in a sleigh named Comet.

A fresh cut tree smells nice and it is a welcome addition to our Christmas.

For more info and the location of Gunlor Pines, you can call them at 780-489-6508.

Have a great Holiday season, from my family to yours!

Ben Officer, CD   REALTOR®

RE/MAX Real Estate

This reminded me about home-sellers that ask me about what renovations they can do to make their homes more saleable.

Remember these lovely, trendy home items from days gone by…

The green toilet.       Oh wait, the 70’s called and they are looking for your shag carpet!

These are just a few suggestions to consider when you look at possible renovations. Any way you slice it, your home is for you to enjoy.

Any other thoughts or comments on home renos you can add?    Please do!

Ben Officer, CD   REALTOR®

RE/MAX Real Estate (Edmonton)

The idea for this blog post came to me while I was meeting with a tenant of mine. He keeps the condo clean, pays his rent on time,

and lets me know if he has any problems.

In turn, I put good quality amenities in his condo, treat him with respect, and gave him a Christmas gift.

It’s not just treating people nicely, it’s understanding that they are helping you to pay your mortgage and your bills.

That said, you also need to be firm about rent being paid on time. You have bills to pay and so does the tenant.

If you provide a decent place to stay, they need to know that you need the rent on time.

Items to get from a prospective tenant are:

1.  Ask for and check the references provided by a prospective tenant,

2.  Have a lease so everyone has a written agreement of the rent and terms,

3.  A 1 month rent security deposit,

4.  A move in/out inspection report completed for wear and tear and/or damage to the rental unit.

Also, make yourself familiar with the Landlord and Tenant regulations for your area. All these items will go far to reducing conflicts over the term of the lease.

If you are thinking of buying a revenue property, getting and keeping good tenants is very important.

Please feel free to comment on this blog post or to ask any questions.

Ben Officer, CD   REALTOR®

RE/MAX Real Estate (Edmonton)

I am behind in keeping up with my blog and with the release of the the November stats by the REALTORS® Association of Edmonton.

Yes, November was a busy month for MLS real estate listings and transaction in Edmonton, St. Albert and area.

There were 1894 residential listings, with 1261 residential sales. This compares the Nov/08 at 2036 residential listings and only 891 sales. A marked increase this year.

The average days on market for a home or condo was 48 days and the List to Sales ratio was 62.

Now, the average prices for a single family residence was $368,018, a slight up-tick from October. For condominiums it was $231,684, a drop of about $6000 from October.

Here is the price comparison chart for 2009, so far.

Condominiums will continue to be price volatile for awhile because of the increasing amount of new units being completed. This is going to probably push prices down even more. I’ve been talking to some apartment condo owners who bought in the last few years, and had to be honest and tell them that to sell now would mean a substantial loss compared to when they bought it.

Also, there are still quite a few buyers looking to purchase while the rates are low. This is one of the reasons why I have been busy for the first half of December. Although, now that the cold and snow are here it could make everyone think Ho Ho Ho, instead of Home, Home, Home.

I always welcome comments on this or any other blog posts. Your input is appreciated.

Drive safe and stay warm.

Ben Officer, CD   REALTOR®

RE/MAX Real Estate

You see a home listed for sale on the market that you like. Should you buy it?

Before you make an offer, it’s a good idea to get a sense of the property’s long-term potential. After all, in terms of Edmonton real estate and St Albert real estate, 

a property is not just a potential home, it’s also an important investment.

Here are some things to look for when viewing homes on the market:

· Is the area’s average income increasing? (The more affluent a neighbourhood becomes, the higher the property values.)

· Are employment opportunities growing nearby? (If jobs are leaving the area, housing prices will likely decline.)

· Are there any nearby housing or community developments that will enhance the quality of life in the area?

(If a park with a quiet walking trail, or a prestigious golf course, is being built nearby, the value of the neighbourhood will increase.)

· Is the crime rate on the rise or decline? (This can have a significant impact on future property values.)

· Are there public transit lines located nearby? (Studies show that housing prices increase in areas where public transit is close and convenient.)

· Is the property located in a neighbourhood dominated by higher priced homes?

· Does the property have features that will always be valued by home buyers, such as a large kitchen, spacious backyard, and professionally finished basement?

· Are there short-term negatives about the area that will eventually disappear, such as loud construction projects? (Once those negatives are gone, house prices will often jump.)

Need help to find the right home? Call me to-day.

Ben Officer, CD  REALTOR®

RE/MAX Real Estate

December 3, 2009

Kelowna, BC (December 3, 2009) -- In the midst of one of the most tumultuous economic periods in recent history, residential real estate has proven to be a safe harbour, with sales and average price expected to post gains in most major Canadian cities in 2009, according to a report released today by RE/MAX.

The RE/MAX Housing Market Outlook for 2010 examined residential real estate trends in 23 markets. The report found that sales are forecast to recover in almost all major centres by year-end 2009, led by an anticipated 45 per cent increase in Greater Vancouver. Two markets --Ottawa and Quebec City -- are expected to hit historic highs in the number of homes sold. Average price should post new records in 65 per cent of markets surveyed this year. As economic performance ramps up across the country, so too will residential real estate. Eighty-three per cent of markets (19/23) are expecting sales to increase over 2009 levels while housing values are forecast to escalate in 91 per cent (21/23) of Canadian centres in 2010. The remaining markets will match 2009 levels.

Approximately 465,000 homes are expected to change hands nationally in 2009, a seven per cent increase over one year ago. Canadian housing values are forecast to close the year at $318,000, up five per cent from $303,594 in 2008. By year-end 2010, the number of homes sold is predicted to climb another two per cent to 475,000 units. The average price of a home is also expected to experience an uptick, rising two per cent to $325,000 – the highest level in Canadian history.

“Some of the greatest percentage gains were reported in Western Canadian markets in 2009– demonstrating the higher the peak, the lower the valley,” says Elton Ash, Regional Executive Vice President, RE/MAX of Western, Canada. “That said, the recession barely registered on year-over-year activity in most major centres. The economic fundamentals in place going forward ideally position the ten provinces, and the sector overall, for further growth.”

The upswing in residential housing values speaks volumes. By year-end 2009, average price is expected to increase in 15 of the 23 markets surveyed, led by St. John’s, NF (15 per cent); Quebec City, QC (eight per cent); Regina, SK (seven per cent); Saint John, NB (six per cent); and Winnipeg, MB, Ottawa, ON, and Greater Toronto, ON (five per cent). Other noteworthy developments include shattered price benchmarks in Greater Vancouver at $600,000; Toronto at $400,000; Ottawa at $300,000; and Quebec City and St. John’s at $200,000. St. John’s will once again lead the country in terms of percentage increase in average price in 2010 with a projected upswing of 11 per cent. Quebec City and Regina are expected to experience escalation of six per cent, while Calgary, Kelowna, and Victoria are forecast to climb five per cent next year. Victoria, Kelowna, Edmonton and Calgary – all down marginally in 2009 – are all positioned for growth in 2010.

“2009 was without question the year of the house,” says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. “Real estate not only defied industry and analysts’ predictions in 2009 -- it’s performance went well beyond the realm of expectation by boosting consumer confidence levels and ultimately kick starting the national economic engine. While low interest rates were a principle factor driving home buying activity, no one can discount the value that Canadians place in owning a home.”

The major frontrunners in terms of unit sales appreciation in 2010, are all located in Western Canada, including Kelowna with an anticipated upswing of 10 per cent in housing sales; Calgary with an expected increase of eight per cent: and Victoria, which rounds out the top three with a seven per cent hike forecast for unit sales.

“Canadians continue to demonstrate their commitment to homeownership – regardless of the economic climate,” says Sylvain Dansereau, Executive Vice President, RE/MAX Quebec. “No where in Canada is that more evident than in Quebec. The province, with one of highest percentage of renters in the country, is well-poised for an escalation in homeownership levels as renters enter the market en masse to take advantage of ideal market conditions. Prices remain well under the national average, making ownership more attainable and leaving more room for appreciation that’s been long overdue.”

A number of factors will help prop up activity going forward, including improved economic conditions, continued low interest rates, rising consumer confidence and solid capital spending which will buoy employment. Inventory will once again assume the wildcard role, with any decline placing upward pressure on prices. Multiple offers will remain the exception in most markets, more commonplace on quality entry-level product which remains in tight supply.

RE/MAX is Canada’s leading real estate organization with over 17,000 sales associates situated throughout its more than 677 independently-owned and operated offices across the country. The RE/MAX franchise network, now in its 36^th year, is a global real estate system operating in more than 70 countries. Over 6,700 independently-owned offices engage nearly 100,000 member sales associates who lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral, and asset management. For more information, visit: www.remax.ca.

Video message from Elton Ash, Regional Executive Vice President

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Ben Officer, CD   REALTOR®

RE/MAX Real Estate (Edmonton)

Title and Mortgage Fraud  (From the Consumers Council Of Canada)

-Scotiabank's Advice on Title Fraud Protection

Title and Mortgage Fraud is a growing threat to the financial security of Canadian Consumers.  The Consumers Council of Canada agrees that the fraud victim is doubly victimized by having to fight the lending institutions who granted the mortgage and the legal system to restore title.

Consumers must be diligent in protecting their financial and other personal information whose theft, most often, is the contributing factor in the theft of their identity and fraud of this nature.

Awareness of the factors contributing to identity theft need to be understood.  Measures to protect oneself are simple and the Consumers Council recommends all make use of the information available at their local financial institutions and on the internet. 

One of the most useful sites is:  http://www.protectyourtitle.com     Take a look.

Governments can also play a role in reducing consumer victimization. 

In Ontario, legislation has been passed to strengthen consumer protection, enhance the delivery of public services and modernize government in preparation for the future challenges and opportunities of the 21st century.

The new legislation addresses Real Estate Fraud by:

   a. Ensuring that ownership of a property cannot be lost as a result of the registration of a falsified mortgage, fraudulent sale or a counterfeit power of attorney;

   b. Implementing a streamlined and expedited Land Titles Assurance Fund process for individuals who are victims of fraud so that title is returned and a decision on compensation is made within 90 days;

   c.. Introducing additional safeguards for suspending and revoking the accounts of fraudsters so that they cannot register documents, and

   d.. Raising existing fines for real estate fraud related offences to $50,000 from $1,000.

The Province of Alberta has more info about how to spot and prevent Mortgage Fraud.

The website is:  http://www.servicealberta.gov.ab.ca/895.cfm

Ben Officer, CD   REALTOR®

RE/MAX Real Estate

Edmonton and St. Albert each have T.U.C.s (Transportation Utility Corridors) around them and they are possible routes for the new power lines. This doesn’t include all the smaller individual transmission towers that course through Edmonton and St. Albert.

The added cost will be off-set by happier property owners, added safety from magnetic fields, and less possible ice-storm damage (not too probable but look at Ontario and Quebec).

I’m willing to pay extra for it.

Ben Officer, CD   REALTOR®

RE/MAX Real Estate

Yesterday I picked up the keys for the new home of a young couple who have been renting. They bought a very nice bungalow on the North-side of Edmonton.

We met at the house and I gave them the keys so they could be the first ones in the door. The seller had done a good job of cleaning and even left a few things the new owners could use.

The best part???  The look of total happiness on the young couple’s faces!!!

I love my job when I see that, because I remember when that was my wife and I.

Ben Officer, CD  REALTOR®

RE/MAX Real Estate