REMAX Barometer Report for Edmonton April 2 2011

Fantastic 9.25% average return on real estate!

Looking to be an Edmonton, Alberta Landlord? Educate Yourself on the Rules March 23, 2011

This link has all the information that you need.

If you need an example of a rental or lease agreement, please send me an email through my site or call me directly at 780-487-4847.

Excellent Opportunity and Investment in Glenora Edmonton! March 21, 2011

The below are all 51 sold properties in Glenora on the MLS going back 12 months.
You can see that even the lowest price a house sold for was $360-380k, depending on location and size. Most have sold around the $400k plus range if they have a good location and lot size like my listing at 10319-139 Street.
*Note when you are looking through these sold listings. The asking price is in the upper right hand corner and the sold price is at the bottom by the sold date.
In regards to active listings in Glenora. There are currently 17 listings ranging from $419k (my listing) all the way to $4.4 million.
The next highest is listed at $429k and is one house away from Stony Plain road.
You can view all 17 listings below.
This won’t last long!

Top 5% of Edmonton Realtors Feb 2, 2011

I am officially 1 of 152 Realtors in the top 5% for 2010! A total of 3040 Realtors belong to the board. I would like to send out a huge thank you to all my clients for their support! THANK YOU! It is an honor being an Edmonton Realtor and I look forward to serving you and Edmonton in the years to come.

Save Tons of Interest and Pay Off Your Mortgage Faster!

Ever wonder how you can pay off your home faster, save on tons of interest, and barely change your monthly payment amount?! For a quick excercise, Google “Canadian Mortgage Calculator”. Once you find one, enter in all your mortgage details. Upon completion, calculate it with a monthly payment. The output will tell you how long it will take to pay off your mortgage. Now, go back and leave everythign else the same and enter “bi-weekly or weekly Accelerated payments” as your payment type. How much did it knock off in total interest and years of your mortgage?
This is explained simply by the way lenders calculate their interest on your mortgage. By simply cutting your monthly payment into two and declaring it an accelerated payment you will gain the benefits of paying your mortgage down quicker, and keep more of your hard earned money in your jeans versus paying it to interest!
Save tons of interest & pay your mortgage off faster. Call your lender & make your mortgage payments “Bi-Weekly or Weekly Accelerated”

Should I Get Mortgage Insurance in Edmonton, Alberta? Jan 30 2011

When it comes to accepted or rejecting any insurance premium, be sure to do your due diligence as you would with anything. Some factors to consider in the process are the following…
1. Talk to a financial planner. (If you don’t have one, I can refer you to some. Always shop around, and see which one has the best product(s) for you)
2. Compare the various products. For example: Would you be better off to buy a universal life policy instead of mortgage insurance?
A universal life policy grows as an investment over time becoming higher in value. Majority of all mortgage insurance payout value declines over time as you pay down your mortgage. The premium for the mortgage insurance always stays the same, but the value declines over time as you pay down the mortgage. When you sell your property or pay off the mortgage, your mortgage insurance expires.
3. Do a cash-flow and ROI (return on investment) analysis. What is your plan with the property? How long are you going to stay in it. What investments do I need to make to ensure the future financial security of my family.
4. What are the options for beneficiaries for the insurance policy?
In the end, always make an informed decision. Talk to professionals in the industry including Financial Planners, and Mortgage Brokers.

Open House – Lewis Estates Bungalo. Must See! Sept 10, 2009

This remarkable bungalow boosts everything you
can ask for, a definite must see.
Open House Saturday, September 12, 2009
11:00 am – 4:00 pm
for more information please contact 780.487.4847

Declutter and Organize Your Home July 9, 2009

Preparing a home for sale requires more than an everyday cleaning. Most understand that their home must be kept neat and tidy in order to attract potential buyers, but it’s easy be overwhelmed or sidetracked when faced with the removal of clutter. Beyond the dusting and scrubbing, a de-cluttered home shows off its spaciousness and allows potential buyers to imagine themselves living there. People collect an amazing quantity of stuff. If you haven’t used it in over a year, you probably don’t need it immediately or consider donating it, recycling it or throwing it away. Organize or put away all books, Magazines, Movies & CD’s from bookcases, Pack up those knickknacks & unique collectables. Clear all shoes from entrance & exits. Clean off everything on kitchen & bathroom counters. Put essential items used daily in a small box that can be stored in a closet or cabinet when not in use. Treat this as a head-start on the packing you will eventually need to do anyway. Store any unnecessary furniture or accessories, open spaces appear larger. Place remaining furniture in each room to highlight obvious focal points that show off the home’s best selling features as well as the clear function of each room. Organize kitchen cabinets, refrigerator & bedroom closets, Think of the message it sends if items fall out, look disorganized or smell! Now imagine what a buyer thinks if they see everything in impeccable order. Consider the following: Neatly stack dishes & turn coffee cup handles facing the same way. Hang pressed clothes together, buttoned and facing the same direction. Line up shoes.

Contact me any time for suggestions on how to efficiently ready your home for sale at 780.487.4847. Be sure to check the blog for further suggestions in the weeks to come.

Want to Sell Your Home but Have a Fixed Mortgage? Beware! June 15, 2009

Want to sell your home, but have a fixed mortgage…? BEWARE!

Most lenders charge a penalty on closed mortgages if the debt is paid prior to the maturity of the term. The full cost of the penalty must be outlined in the mortgage document, so make sure you know what you’re getting into before you sign.

The most common penalty is the Greater of Three Months Interest Penalty OR the Interest Rate Differential. Likely, whichever amount is the larger of these two figures will be your penalty.


If you are paying off your mortgage before the maturity date, most lending institutions charge three months interest penalty (or an interest differential penalty).
Your present mortgage balance is multiplied by your current interest rate and multiplied three.


The IRD is a compensation charge that may apply if you pay off your mortgage prior to the maturity date, or pay the mortgage principal down beyond the amount of your prepayment privileges.

The IRD is based on:

The amount you are pre-paying
An interest rate that equals the difference between your original mortgage interest rate and the interest rate that the lender can charge today when re-lending the funds for the remaining term of the mortgage.
Most closed fixed-rate mortgages have a prepayment penalty that is the higher of 3-months interest or the IRD. Variable-rate mortgages do not have IRD penalties.

This will usually be the difference between the interest rate on your mortgage contract compared to the rate at which the lending institution can re-lend the money.
For example:
If your mortgage has a balance of $125,000 at 9.25%, you have 2 years left to go and the current 2 year mortgage rate is 6.25%. Then the lending institution will probably charge you –
$125,000 X 24 months X 3% (9.25 – 6.25) = $7,266.21

Methods of calculating penalties are as varied as the lenders’ available to you, and not all charges can be avoided, but you can take steps to protect yourself:
· Go to your lender & find out your obligations
· Look at options with a port mortgage or blended rates, especially if upgrading your current home
· Pre Pay your mortgage as much as possible.

Kearl Oilsands Project Near Fort McMurray Gets Go Ahead May 26, 2009

Bruce March, president and chief executive officer-designate of Imperial Oil Ltd.
Photograph by: Bloomberg, Edmonton Journal
EDMONTON — In a rare bit of good news for Alberta’s oilsands industry, energy giant Imperial Oil gave the formal go-ahead Monday for the first phase of its $8-billion Kearl mine project 70 kilometres northeast of Fort McMurray.
Imperial has already spent $800 million on preparations for the project, completing engineering and site preparations. Heavy construction will begin soon, with production of raw bitumen scheduled for 2012.
Imperial and its contractors already have about 1,000 staff working on the project, and that number will jump to 3,000 during peak construction, and thousands more will find work in equipment manufacturing and support services.
Phase one will produce 110,000 barrels of bitumen a day, and production could top 300,000 barrels if all three phases are built. By that time, up to 1,300 permanent staff could be employed there by Imperial.
“It’s a very exciting day for Imperial,” said company spokesman Gordon Wong. “Kearl is a big project and a high-quality oilsands resource.”
Brad Anderson, executive director of the Construction Owners Association of Alberta and the Alberta Chamber of Resources, said the Kearl announcement is the kind of news Albertans need to hear right now.
“This is great news for Alberta’s heavy industrial industry and for Imperial. If there are 3,000 workers, that means good incomes for 3,000 families, and that is a wonderful thing,” he said.
Anderson said major announcements like this used to come on a regular basis during the recent boom.
“I think we got kind of spoiled, and complacent. My reaction is that this is a good thing, and we want more of it.”
Alberta Energy Minister Mel Knight called the project “very significant.”
He said given lower commodity prices, the province expected “there would be a bit of a hiatus here as things tempered a bit and we saw some slackening here of the costs around working in Alberta.”
But that also meant opportunities as construction costs retreated.
“Any of the players that are there have taken the opportunity to go back through their procedures and look at their costs and look at their opportunities. They will all be doing a very similar thing, trying to determine whether or not these projects are now at the right time to move forward,” he said.
The Pembina Institute, an environmental group, is unhappy with Imperial’s lack of response to concerns about the yellow rail, a ground-dwelling bird listed as a species of “special concern” under federal legislation.
Imperial was asked to study mitigation options and review the cumulative impacts on the birds in the oilsands region as part of a 2007 Energy Resources Conservation Board decision approving Kearl.
“Due process has not been followed. Imperial has not cleared this legal hurdle, and land is being cleared that shouldn’t be cleared,” said Simon Dyer, oilsands program director for Pembina.
“We may have to ask for a rehearing.”
Last year, Kearl’s permit for ditching and drainage work was initially rejected by the Oceans and Fisheries Department after a federal court agreed the panel assessing Kearl’s environmental impact had failed to adequately explain why it had approved Imperial’s plan to manage greenhouse gas emissions from the project.
The permit was later reissued.
Imperial’s plans have been aided by a big drop in construction costs as rival projects fall by the wayside. Indeed, the downturn in northern Alberta could lower the $4.50 per barrel construction cost even further.
“They’ve got no debt and can execute on a major oilsands project in an environment where costs look to be trending down,” said Chris Feltin, an analyst at Tristone Capital. “If they are able to lock in even lower rates than they are estimating now, there may be some opportunity for that $8 billion (estimate) to come in even lower.”
The Kearl project is a mine only, but it’s output of raw bitumen could easily be shipped 50 kilometres to the Syncrude’s Mildred Lake upgrader and turned into synthetic crude oil. It could also be shipped for upgrading and refining to Imperial refineries in Edmonton, or to a U.S. location.
Imperial owns one-quarter of Syncrude and is the managing company. It also operates the Cold Lake oilsands project, which produces around 150,000 barrels a day.
Imperial will own 70 per cent of the Kearl project while parent company Exxon Mobil holds the remaining stake.
Imperial is 69.9 per cent owned by Exxon Mobil Corp.