Nolin & Nicole Maurier

The True Power of Today's Interest Rates when purchasing a home!

2010-06-17T16:47:00Z

There always tends to be one major factor that buyer's consider when purchasing a home and that's price. The truth is, there are 2 main factors that they should be looking at: Price and Interest Rates. Jean-Guy Turcotte , an accredited Mortgage Professional with his partner's at Regional Mortgage Corporation created the chart below to show you the benefit's of today's market. There are still many home buyer's out there with interest rate pre-approvals lower than 4% that aren’t...(read more)

Tips on cleaning up your debt, using a mortgage broker and understanding your credit score!

2010-06-16T20:43:00Z

Clean up your debt before you leave on summer holidays! Yes we're in the busy season! Lots of preparation for your summer vacation! For many though, pesky debt responsibilities can dampen their planning and holiday enjoyment. Others may not worry about their debts, thinking they can always get their financial house in order after the holiday. But if you’re concerned about your debt obligations, consider adding one more task to your pre-holiday to-do list! See if you can use your home equity...(read more)

Open House in Anders on Sunday

2010-06-14T21:34:00Z

Anders, Red Deer - We invite everyone to visit our open house at 17,103 Addington Drive on June 20 from 2:00 PM to 3:30 PM.

Property information

Take advantage of our monthly incentive in the spirit of the 2010 FIFA World Cup and receive $250 'kick back' on your possession date!

Hurry fast, offer valid until July 31, 2010 go to http://monthlyincentive.realtyexpertsgroup.com for full details

Open House in Pine Lake on Saturday June 19th from 1-3 Pm!

2010-06-14T21:34:00Z

Pine Lake, Red Deer County - We invite everyone to visit our open house at 50 Whispering Pines Phase 4 on June 19 from 1:00 PM to 3:00 PM.

Property information

Open House in Anders on Sunday

2010-06-14T21:33:00Z

Anders, Red Deer - We invite everyone to visit our open house at 19,103 Addington Drive on June 20 from 2:00 PM to 3:30 PM.

Property information

Take advantage of our montly incentive in the spirit of the 2010 FIFA World Cup and receive a 'kick back' of $250 on your possession date!

Hurry Fast! Offer only valid until July 31, 2010 for full details go to: http://monthlyincentive.realtyexpertsgroup.com

Summer Activities & Events in Red Deer, Alberta!

2010-06-11T22:38:00Z

Discover the Red Deer Constituency! Bower Ponds The Bower Ponds Recreation area in Waskasoo Park is home to an extensive trail system, interconnecting ponds, trout fishing and skating in the winter. Various seasonal rentals are available for a small fee on site. Located in Red Deer at 4707 Fountain Drive call for more information 403-347-9777 Market @ Red Deer Every Saturday at 8 am - 12 pm from May Long weekend to Thanksgiving, the market offers fresh foods, homemade items, yummy treats and so much...(read more)

Realty Experts Group Ltd. celebrates the FIFA World Cup!

2010-06-11T19:51:00Z

Kick Start Your Summer... With Realty Experts Group Ltd.! In the spirit of the 2010 FIFA World Cup , when you Buy or Sell a home with Realty Experts Group Ltd . during the World Cup soccer you will receive a $250 "Kick Back" Use the Kick Back however you choose! Imagine.... On your possession date, Realty Experts Group Ltd. will provide you with a cheque in the amount of $250! You can use this money for your own personal needs or sponsor your own sports team or contribute the amount towards...(read more)

CMHC Mortgage Rule Changes Clarified

2010-03-08T20:05:00Z

There have been some interesting updates over the weekend. The bond rates have increased and there is a lot of speculation that rates are on the increase. Of course, we are not sure how soon this will happen, but if you are considering purchasing a home within the next 3-4 months, it would be wise for you to have a mortgage broker do a pre-approval and rate hold at this time. Some of these changes may seem confusing and overwhelming especially for a first time home buyer. Rather then get lost in...(read more)

Michael Godard in person at Editions Gallery, Bower Place Mall in Red Deer, Alberta

2010-02-18T18:50:00Z

I first learned about the “Rock Star of the Art World”, Michael Godard by watching an episode of A&E’s Criss Angel’s Mind Freak. Since then, the ‘olive’ artist has been making appearances at different locations, including Editions Gallery , at the Bower Place Mall in Red Deer, Alberta . I had the opportunity of meeting Godard in Red Deer, in November of 2009. I happened to be in the mall, and noticed a line-up of people standing out front of the gallery, and...(read more)

New changes to mortgage insurance rules for purchasing revenue property

2010-02-16T20:58:00Z

MORTGAGE INSURANCE RULES ANNOUNCEMENT Thinking about purchasing a revenue property? Now is the time! This morning, Federal Finance Minister Jim Flaherty announced prudent changes to mortgage insurance rules intended to come into force on April 19, 2010 . CAAMP was actively engaged in the discussions around these changes which are as follows: All borrowers must meet the standards for a five-year fixed rate mortgage even if they choose a mortgage with a lower interest rate and shorter term; this then...(read more)

Money, Marketing & Management with HubSpot Founders- Webinar

2010-02-11T22:19:00Z

Hubspot.com – Webinar Information for small business entrepreneurs to help you get started "Money, Marketing & Management with HubSpot Founders". On Wednesday morning as I was sipping on my hot mocha coffee, by Organo Gold , I logged onto the webinar hosted by Brian Halligan , the CEO & Founder of HubSpot. The webinar was an hour long, followed by a half hour of open questions and answers. I took notes of the session and have provided them for you to review, in the event that...(read more)

Why would you buy a property this year?

2010-01-12T21:52:00Z

Where We Were….Where We Are…

Where We Could Go

SO WHAT IS THE BENEFIT IN A WAIT AND SEE APPROACH

Home Value 5 Year Rate Payment

Past: $342,746 5.94% $1,886.

Present: $297,826 3.79% $1,276.

What if this happens?

Future: $282,934 5.94% $1,557.

In January 2008 the average single family home sale on the MLS was $342,746 in Red Deer. In the same month for 2009, the value decreased to $297,826. The interest rates used in this example are based on a 5 year fixed term mortgage amortized over 35 years.

The present mortgage rate is as at January 8, 2010.

If property values decrease by another 5% and if the rates rise in the later part of 2010 early 2011, then you would have been better off to purchase at the prices today when you are guaranteed the lowest rate in history (based on the Bank of Canada average residential mortgage lending rate). We are not predicting the future, merely giving you an idea of what could happen if property values drop and interest rates go up. The question to ask yourself is “would it be beneficial to purchase now when interest rates are at a record low or wait for property values to decrease more”?

RD Olympic Torch Relay

2010-01-08T21:40:00Z

Note that this information is outdated.

Red Deer has been selected to host the Olympic Torch as it makes its way across Canada to Vancouver for the 2010 Olympic Games. The Community Celebration will be a free eclectic interactive festival that all of Red Deer is invited to attend. Red Deer will be showcased on the national stage with displays of community culture and sporting spirit. There will be something for all ages from the young to the young at heart. Bundle up and bring your Canadian pride - it promises to be an event that will create memories and ignite the Olympic spirit in our community.

Real Estate Market in Red Deer

2009-12-23T21:24:00Z

Real Estate Market in Red Deer

In a season when pocket books are tightening and wise spenders are picking up deals, the housing market in Red Deer continues to fluctuate. Buying a house for the first time, or the tenth, can be both exhilarating and frightening. The smell of freshly laid carpet, painted walls and a welcome basket to greet you is the start of one of the many major experiences of life.

2009 saw a dip in housing purchases and the dollar amount being paid out. Most popular to move into, or build, is still the single family home, usually ranging around the $350,000 mark for new.

CMHC stats for September 2009 state that in Red Deer 87 single family homes sold with the average listing price at $344,847 and the average sale price going for $336,052. Clearly, home owners looking to sell are having to be flexible if they want to downsize or upgrade to something different.

According to Nicole Maurier, Realtor for Century 21-Advantage, “With prices adjusting downwards, and with fantastic interest rates, right now is a great time to buy! The difference we see now, is that buyers have a lot more homes to choose from, they are able to get more home for their dollar, and mortgage brokers are working hard at seeking out the best rates and terms for their clients.”

A local mortgage-broker company, Get ‘Er Done Girls, is seeing such a dramatic variety in clientele that there is no easy way to predict who can qualify for a mortgage or who is seeking for one.

“We are seeing all types of clients entering the housing market from first time buyers to seniors wanting to downsize, but keep funds available through lines of credit. Of particular interest is the investor who has re-emerged who wants to leverage current properties to buy new rentals,” says Alyson Thiessen, a broker for over 10 years at Get ‘Er Done Girls.

The process to get a mortgage can be confusing and frustrating for many, especially first-time homeowners, but Get Èr Done Girls helps alleviate the confusion, answer questions and secure the best rate they can with the banks.

“I can say that people are continuing to qualify for houses for several reasons. First of all, with houses having come down in price, mortgage amounts are lower and easier to qualify for. Secondly, rates are at all time lows. Couple a very low rate with a 35 year amortization and that makes for an attractive payment for any buyer!” says Alyson.

According to a study done by MacKay et al (2008) the labour market trend has propelled housing demand and investment in housing, thus home ownership has increased. Another factor that has influenced home ownership is education. Education levels have improved among Red Deer residents with a greater percentage of the population having some form of post-secondary education and being in occupations that have higher incomes. The government has assisted in helping the community get their first home through programs designed to make it easier for young families to purchase their first home, such as sales tax rebates for new homes, access to mortgage loans for up to 100% of the value of the home, and loans and subsidies for first-time buyers and young families.

Marie Oro, Co-Owner and Associate of MaxWell Real Estate Solutions shares, “It’s the biggest purchase people will likely ever make. People have been on the internet and researched when they come in – they are a lot more educated. There’s definitely not as many people doing the fix and flip from the boom. It’s just not happening. The attitude of get rich quick has disappeared,” she laughs, “People are more wise.”

And why not take the time to educate yourself when you have it in today buyers’ market. And you get variety. Condos and apartments. Townhouses and bi-level splits. Acreages and mansions exist for buyers’ pleasures.

“Obviously single family homes are clearly what buyers are purchasing. Why? Again, with price adjustments, and great interest rates, buyers can purchase more house for their bucks!!” says Nicole Maurier from Century 21-Advantage.

Everyone from Realtors to brokers to builders are having to get creative to remain competitive in the Red Deer market.

Over the last decade central Alberta has easily been in the top five hottest new home markets in Canada. Abbey Master Builders has been the recipient of many local and provincial awards, including the Award of Excellence, Customer Choice Award, and Best of the Best. The most recent award is Builder of the Year for 2009. Earning the distinction of “Master Builder” status requires ongoing training and certification.

Carla Sonnenberg, Executive Administrator at Abbey Master Builder states, “A lot of the homes we’re building today were only dreamed of when we started in 1976. The revolution in ideas and materials over the last ten years has resulted in higher quality, more energy efficient homes. Today’s consumers are very environmentally conscience and appreciate the extra work Abbey Master Builder does to make our new homes “greener” such as energy efficient furnaces, windows, low flush toilets etc. As a `Built Green` member we have many options available to the new home buyer.”

Carla sees the market showing positive indicating factors of strength such as historically low interest rates, the strong Canadian dollar, oil prices and the steady growth in the stock market. The central Alberta corridor between Edmonton and Calgary has always shown strength and stability even in the toughest markets.

The phrase “this too shall pass” seems to ring true. Recession. Economic slump. Downturn. Whatever name you put on it, people are still succeeding. It is clear that the strong economy of central Alberta will once again rise up, though no one knows exactly when. For now, opportunity abounds to make one dream after another come true.

Article written by Lani Ledingham
October 2009

In Real Estate the numbers never lie

2009-12-23T21:00:00Z

The explosive and unpredictable highs and lows of the real estate market in the past five years have left some confused while others excited in Central Alberta.

Some made massive amounts of money akin to winning the lottery, while others have literally lost their life savings.

As a realtor I’m frequently asked the question “How is the market?”. Since I’m a glass half-full kind of guy, I always instinctively reply, “It’s great!”

We all know how hard it is to find out the truth in the real estate market. We get bombarded with conflicting information from friends and the media. One day the market’s “booming”, and the next day it’s “crashing”! But what is really going on and how do you know who and what to believe?

Real estate goes through major cycles about every 18 years, but it can also go through several mini cycles within a single year and sometimes even within a month.

With that said, let’s take a look at the market statistics, so you can understand for yourself what’s been happening. The following sales stats are from Jan. 1 to Nov. 1 for single family dwellings. This is to give readers an accurate comparison for the most recent boom/bust cycle of 2005 to 2009:

Red Deer Single Family Dwellings January 1st to November 1st

Red Deer Single Family Dwellings January 1^st to November 1^st
YEAR	# SOLD	AVG LISTED PRICE	AVG SOLD PRICE	EXPIRED LISTINGS (all property types)
2005	1028	$218,382	$215,007	165
2006	1026	$293,870	$290,956	47
2007	1197	$363,907	$358,150	219
2008	1184	$358,708	$350,366	717
2009	984	$345,918	$336,142	640

In only two years, from 2005 to 2007, the average sale price of single family homes increased by a whopping $145,555 or 66.5%.

From 2007 to 2009, the average sale prices have decreased by $18,000 or 5%, which shows that although prices are slightly down, our market is still unbelievably strong.

When looking at the expired listing stats, you must first understand the theory of supply and demand.

Supply is the number of houses available at a given time. Demand is how many buyers desire the houses that are in supply at that given time. When supply is low, and demand increases, the prices are driven up. When supply is high and demand decreases, the prices are driven down.

A listing expires when a house doesn’t sell within the contracted time period and the seller decides not to move forward and takes it off the market.

In 2006 there were only 47 expired listings, which meant that in 2006 the supply was too low for the demand, and almost every house listed for sale was sold. This drove up the prices in 2007 and many people saw this as an opportunity to jump on the metaphorical “money train” and listed their houses for sale, thus increasing the supply.

The demand increased a little in 2007, probably for the fear that if you didn’t buy right away, the home would be $10,000 more next month. More homes were sold in 2007, again due to people wanting to cash in on the high prices, but as the expired homes almost quadrupled, this showed a sign that not all the supply was going to sell at these over valued prices! At this point the money train was leaving the station.

Amazingly from 2007 to 2008 the number of expired listings almost quadrupled again to 717! This meant that a massive number of people were still hoping to catch the money train and houses were flooding the market. Prices were driven downwards and only those that were serious and motivated to sell were successful.

Clearly the train is long gone, but still there are those that linger. In 2009 the expired listings decreased by only 77.

Interestingly you will notice that throughout all this the number of houses sold per year has remained essentially the same. This means that the demand has remained consistent through all five years, and the supply has been the only changing factor.

In the middle of November 2009, the total number of listings in Red Deer was 510, whereas in 2008 there were more than 650 listings. This is a good sign that we are slowly adjusting back to normal. There are three main reasons for this:

Sellers are getting educated on the market, and they are selling because they need to, not just to make unrealistic profits like in 2007.

Some people that bought in the peak of 2007 are seeking out other alternatives rather than selling at a loss. Some simply can’t sell because the mortgage amount is greater than what the selling price would be.

Most sellers are back to pricing based on what the home is worth in today’s market, and in turn the homes are selling. Bottom line is, no matter what the asking price is, buyers are only willing to pay the fair market value of a home.

In 2006/2007 the market boomed and it really didn’t matter what you did, your home sold! At the end of 2008 the recession hit and money was lost.

Now, only two years after the boom, we’re already settling back into a market that’s both strong and reliable. If it’s priced for today’s market, it will undoubtedly sell.

Realtors understand the market as we eat and breathe real estate. It is time to start trusting the numbers and if the realtor can show you at least three comparable homes to yours that have sold, trust it!

In today’s world both sellers and buyers have access to the same information, so both sides truly know what the home is worth.

For a more extensive look, breaking down these statistics for all property types, condominiums, and single family homes, visit us at www.RedDeerRealEstateExperts.com