Hints for Looking at Properties in the Winter

Looking for a property to buy in the winter can be a GOOD thing. There tends to be fewer other buyers out looking in the cold and snow, so there is less competition. Thus, here are a few hints that I have come across over the years when viewing houses in the winter months. First of all, wear good winter shoes/boots. If you plan on looking around outside, you are going to appreciate having a warm pair of winter boots on, especially if there is a lot of snow on the ground. Yes, sellers should have their sidewalks shovelled, but that does not always happen. Plus, you may want the freedom to look around the yard if something catches your eye, such as holes in fences or cracks in walls. Saying that, make sure that you have boots that you can slip on and off easily. If not, be ready to take the time to remove your shoes/boots when you go into the house. I had a person the other day tell me that he would just wipe off his boots as they were a pain to take off and on again. I told him that you are in someone else's house, so please remove your boots. He may have been a bit shocked that I told him to take off his boots, but he agreed and the showing continued. Tracking mud and snow into another person's house is not respectful. Imagine if it was your house. I have heard of several incidents when a seller came home to find mud tracked through their kitchen. This does not get things off on the right foot if an offer is presented and we need to negotiate. Now, if the sidewalks are clean of snow, that is a good sign that someone cares, or at least cares enough to have someone take care of the sidewalks. If you can see the roof, take note of the condition. Are the shingles curled? Is it a metal roof? If you cannot see the roof due to it being covered in snow, you will want to have an inspector check on the condition of the roof. Are there signs of pooled water/ice around the house? That could mean faulty eavestroughs, or no eavestroughs at all. Or perhaps the downspouts have been left up and were not put down when the snow started to melt. How big it the driveway? Is the sidewalk big? If it is a corner lot, does the sidewalk go around the corner too? That is good to note, because if you plan on buying the property, the snow will be your responsibility in the future. If you do not already have a snowblower, it may be a good idea to talk nice to Santa, especially if you will be having a large driveway and sidewalk to maintain in the winter. When inside, check for cold exterior walls - that could mean that the insulation has settled and may need to be upgraded. Are the windows clear, or are they frosted? If they are frosted and need to be replaced, you could use that in your negotiations. As always, I suggest a property inspection. As I have said before, property inspectors will find something wrong, as that is their job. It does not mean that it's a bad thing, as no house is perfect. However, an inspection will give you a better idea of what the future has instore for your potential future home.

Reasons to Live in Vulcan - Part 1

Have you ever considered living in a small town? Perhaps you have lived in a small town, or do live in a small town, and wonder why ANYONE would EVER want to live there! Well, I talk to several people throughout the day and I get to hear all types of reasons why people like it here. HOSPITAL - our hospital in Vulcan has a clinic as well as emergency room and care beds. When you need to see a doctor, you do not need to wait hours and hours. The clinic, you have see your doctor, go down the hall and get your blood taken and get an x-ray, if needed. For bigger emergencies, STARS Air Ambulance can land here and whisk you away to Calgary for treatment. Another bonus is that if you are visiting a patient, there is no cost for parking. GOLF COURSE - Vulcan has a nice 18-hole golf course that attracts people from all over. Where else can you get an annual golf membership for under $1000? I dare say that those places are few and far between, and maybe not as well kept as our golf course. Many times throughout the season, you do not even need a tee-time. RECREATIONAL FACILITIES - when I was a kid, I lived on a farm near a village. I played ball and hockey, and I never realized how good I had it until I had kids of my own and lived in the city. I always thought that the city kids had all the breaks. They seemed to have everything at their disposal. Well, there are a lot of facilities in the city, but are they available, and what is the cost? Vulcan has a strong community for hockey, figure skating, and curling. They are always looking for more participants and the cost to use the facilities are a fraction of the cost compared to larger centres. For adult rec hockey, the cost for playing for the season is about $120. Youth shinny is $75. Plus, curling is popular among the young and young at heart, as well as figure skating. The Vulcan Kinette Club sponsored a paved walking path that takes you around town, and there is even an outdoor gym at one of the parks. There are several ball diamonds that are busy in the summer, along with soccer and rugby fields. There are options for gym memberships, starting at $175 per year, and go up from there, depending on your needs. And, there is an outdoor swimming pool. Many a family has had their children and grand children take lessons there throughout the summer. The community is raising funds to replace our pool so that we can continue to support this wonderful facility. BUSINESSES - there are second and third generation businesses in town. Yes, there are people who grow up in town and leave for the city, but some of them come back to take over the family business. Examples are the furniture store, insurance agency, and hardware store. People like that small town feel, knowing your neighbour, and distracted driving is waving to everyone that you see on the street... COMMUNITY GROUPS - For those people who say that there is nothing to do in a small town, I extend a challenge. Did you know that there are 70+ groups in town to choose from? From the Lions and Lionettes Clubs, Kinsmen and Kinettes, Chamber of Commerce, Art Society, Photography Club, and many, many more, there are choices. Our groups and volunteers put on many great events, including Black Friday, Spock Days, Tinman Triathlon, Vulcan Show n' Shine, Fly In Breakfast, and Ears to You Small Business Awards, just to name a few. You do not just live in Vulcan, you are part of the community. If you need or want to go to the city, we are only 100 km north of the City of Lethbridge, and 120 km south of the City of Calgary. Good highways take you in any direction, but the road home is always the best.

Final Run Before The End of the Year

Last week we had conditions removed on a couple of offers, which is nice to see. Plus, we have another offer or two on the go. Good to see some action. It is expected to see activity pick up before we get into the holiday season, at least according to recent history. We need the weather to warm up and dry out the crops that are have yet to be harvested, and then we may see some land change hands too. There is a land auction scheduled for October 23rd. There will be irrigated land, as well as dry land up for the unreserved auction. The links are attached to this blog for more information.

Mortgage Qualifier Tool - Canada.ca

Mortgage Qualifier Tool - Canada.ca The information is provided by the Canada.ca website. It should be used only as a tool. Please check with your mortgage lender/bank for the most up-to-date information.

What Happens When You Go To Purchase A Foreclosure Property?

You see a foreclosure property on the market. Should you go for it? Perhaps you can get a deal on it. Before you take the plunge, here are a few things to consider. First of all, you are purchasing the property in "as is where is" condition. What does this mean? It means that the seller (usually the bank or mortgage company) does not warranty any information about the property. They have never lived there. Representatives of the bank may have never even seen the property in person. They do not usually know the history of the property, such as any leaks in the basement, structural issues, or whatever. When you look at purchasing a foreclosure property, you will be getting it in the same shape that you look at it. The seller is not going to fix it up for you. For example, the seller is not going to fix the roof, or repair a leaky faucet. This is why you should get a property inspection. At least this way, you will have an independent professional inspect the property and point out any defects that you may, or may not, have seen. Also, the seller will not be providing you a real property report. Remember those from a previous post? This is a survey of the lot, which shows the permanent structures and how they are situated in accordance to the property lines. If you are getting a mortgage to purchase a foreclosure property, you will be on the hook for getting a new RPR, as your lender will most likely want one. The risk is on the buyer, for pretty much everything. This may put some people off, but for others, purchasing a foreclosure property may end up being a great investment. If you get the property for a decent price, and can fix it up yourself (some people may leave the property in good condition, while others are usually leaving in not very good circumstances and may leave a mess and damage the property), you may have just made one of the best investments of your life. Just do your homework ahead of time. Do your due diligence during the buying process. Talk to the neighbours. Some may have some wild stories about the property (take them with a grain of salt!), while others may tell you that the previous owners took good care of the property, and just fell on hard times. Talk to the local municipality representatives, such as the town office, or city hall, to see if they have any history of the property. Talk to your real estate agent. Get as much history as possible about the property. Once you have done all that, then you should have enough ammunition to decide on whether the foreclosure property is right for you, or not.

We have more supply than demand

According the the Calgary Real Estate Board stats, the Vulcan region had seven sales report in July, while there were sixteen new listings. We have over 13 months of supply on the market for residential properties. Average days on market is 100. What does this mean? As a buyer, you have little pressure to purchase right away. You can take your time in making a decision to purchase. As a seller, you have lots of competition. What is going to make a buyer choose your place over the others? Price and curb appeal are two big factors. Taking a quote from the August 1, 2018 article from CREB link, "the Bank of Canada raised rates again in July. Rising costs, combined with a slow recovery, are weighing on the demand for resale homes in the city. At the same time supply remains high and is resulting in an oversupplied market.” That is based on what is happening in the Calgary market. We can apply some of this to our local market. This spring we had a lower than average inventory of properties on the market, and now we have above average. Good for buyers, while a challenge for sellers.

Coffee Shop Talk Pricing

I had a person catch me at the post offer the other day, letting me know his thoughts on the local real estate market. He explained to me how properties in Vulcan are being priced like properties in Calgary and that this is hurting our local real estate market. In particular, there is a lot that he would like to purchase, but it is priced like a lot in Calgary. I asked him what he is basing his information on, what is he comparing his pricing to. He could not give me details but insisted that the lot was based on Calgary prices and not Vulcan prices. I told him that the lot across the street from the one he was referencing sold for $38,000, and it is half the size of the lot that he wanted. We based that on the price that we listed at. Plus, the lot this "over priced" lot has a garage on it. He let me know that because of pricing to the Calgary market, house sales in Vulcan are suffering because of it, and that is why houses in Vulcan are not selling. We left it at that, and wished each other a good day. This is not unfamiliar territory for a real estate agent. Many of life's problems, including the local real estate market, as discussed and many of these are "resolved" if only people would listen to those who speak the loudest at the table. "Prices are too high." "What is that stupid, greedy, money hungry, real estate agent thinking?" Oh, except when those people are trying to sell their property. It can make a whole lot of difference if you are on the selling side of the fence, or the buying side. Then you can have a stupid, lazy real estate agent who has not shown your "exceptional" property that is priced higher than the others because you have done so much work to it, and it is way better than the one down the street that just sold for much less than what you have yours listed for. If you really want to know what is going on in your local market, check with your local real estate professional and discuss it. Check with your local mortgage broker. Check with your local real estate board. Get the facts, and you will have the tools to make a more informed decision for whatever you are doing. Period.

Inventory is Picking Up

Remember not that long ago when I said that I thought the warm weather would bring an increase in activity? Well, not to brag, but I may actually be right this time. Our overall residential market inventory has increased. We have seen some places that were taken off the market last fall, come back on. There are some potential sellers who have been patiently waiting for the right time to sell, and they seem to be ready to make a move. We have also seen a couple of places that had offers on them last fall, finally sell this spring, for a price which was close to the same as they were offered last fall. I guess hind site is 20/20. I guess sometimes sellers have to figure out whether it is worth it to sit on a property for a while, paying the utilities and taxes, putting your life on hold, in exchange for the hope of a few more thousand dollars.

State of Emergency for Vulcan County

There is a state of emergency in place for Vulcan County. For more information, please visit the Vulcan County website at: www.vulcancounty.ab.ca. There has been overland flooding due to high amounts of snow melt and some roads have washout areas.

Another Slow Start for the Market This Year

According to the Alberta Land Titles Registry, there was one single-family residential sale in January, and one in February. March saw things pick up a little bit. The longer than average "winter", with above average snowfall and colder temperatures, has had a negative effect on the real estate market throughout much of Alberta, a market which already was experiencing a weakening trend. However, with the blips of warmer weather we saw an increase in activity. So, I am hoping that once this crazy weather smartens up we will see a busier marketplace. People are wanting to get outside, make some changes, stretch their legs and do something! The weather has set many projects back a bit, including farming, so when it does dry up enough to move, you can bet that people will be hitting the ground running.

Compliance Certificate - What is it?

The following is from the Vulcan Newsletter, Volume 83, February 2018: What is a Compliance Certificate? A compliance certificate is ofter required by lending agencies and/or lawyers in the sale of property and/or mortgage approval in order to protect their clients' investments. Standard real estate purchase contracts often require the vendor to obtain a Compliance Certificate. A Compliance Certificate is a document from the Town issued by the Development Officer that confirms the buildings as provided on a RPR (Real Property Report) are in compliance with the Town's Land Use Bylaw. When review RPR's for compliance, the Development Officer looks for such things as: Required setbacks from property lines; Encroachments that require agreements; If required development permits/building permits are in place. Follow-up may be required to obtain permits or approvals for buildings or structures identified as non-compliant.

2017 Summary of Real Estate Market for Vulcan and Vulcan County

The following information was gathered by the writer. Used sales information from both the Calgary Real Estate Board statistics, as well as from the Alberta Land Titles Registry. This way, sales information also includes properties that were sold through real estate boards other than the Calgary Real Estate Board, as well as private sales. In 2017, there were a total of 52 residential sales (this includes attached and semi-detached homes, and does not include vacant lot sales), resulting in an average sales price of $215,904. Compare those number to the previous year, 2016, where there were 34 residential sales, with an average price of $200,014. Average days on the market for a property to sell in 2017 was 155, according the the Calgary Real Estate Board, while in 2016, the average days on market for a property to sell was 131. The months of July and September saw the largest amount of inventory of properties listed for sale. August and October were the months with the highest number of sales for the 2017 year. In 2017, the price range that had the most residential sales was in the $150,000 to $250,000 mark. Inventory numbers dropped off in December, as several sellers took their properties off the market for the holiday season, and one would guess that these properties will be coming back on the market in the spring.