July 2014

There are 13 blog entries for July 2014.

Any good real estate professional will tell you that the first step in buying a home is to get pre-qualified by a lender. Once you know what you can (or want) to spend, what your repayment terms and monthly payments look like, it’s easier to spend your time looking at homes that match your personal buying criteria in areas that offer homes for sale in the price range you’re comfortable with.

Most people think their bank is the best option for a mortgage but consider that the person you deal with at a bank can really only sell you the products they have available. Shopping banks on your own can be time consuming, frustrating (if you don’t know the lingo), and even damaging to your credit if you’re allowing each lender to look at your credit history.

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I remember running into a successful entrepreneur who was the CEO of a public Rent-to-Own (RTO) furniture business many years ago. I was young and having had the chance to talk to someone like this was extremely helpful but I sometimes wonder what he’d think of the growth in Rent-to-Own as it relates to real estate.

I see and hear ads for RTO more frequently now and, while I’m happy that there are investors out there applying this level of creativity to their investing, I’m equally concerned about the renters who may not know any better and can potentially be damaged by this strategy when not applied by ethical investors. RTO is not inherently problematic nor does it need to be set up to hurt anyone. But, if it’s not done properly right from the start,

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A seller's most incredible, wildest dream – best scenario when selling a home - is to have multiple buyers compete to buy their home. This may not be something many buyers prepare for and it can derail their intent and hope to finally lay claim to a home they love when they finally find that perfect property.

Multiple offers are a sign of an increasing/upward price momentum marketplace. When two or more buyers see the same value or opportunity in a given home, the seller gets the benefit of considering everyone’s offer before deciding to accept any one.

Obviously, as with most competitive situations, there’s going to be just one winner and many frustrated folks who will continue to look for another home. So I thought it might be helpful for any home

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We all know that lessons are often learned by listening to the advice of those who have come before us; either in person, or in print those of us who can learn this way often fair better than those who need to actually touch the stove to know the consequences of both doing so, and for directly disobeying the advice of someone who knows better. And although there’s really nothing that would change my personal conviction to the asset class of Investment real estate, a lesson I learned and a small loss I suffered still serve to protect me to this day.

As with many things in life, investing in real estate is an ongoing education; a learning process that doesn’t end! Obviously when starting out we have the most to learn, and although I had read all I could

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Moving with children can make what is often a strenuous, stressful experience even more challenging. Children don’t like to have their routines disrupted and it can be even more stressful on them than it is on you. We’ve put together a list of 15 ideas that can help you make moving to your new home a little bit easier for everyone involved.

  1. Discuss the move ahead of time, explain why your family is moving and tell them you want their help. Even young children will enjoy having a “job” and can help with throwing toys into a box.
  2. Don’t pack everything right away. Ask your child to pick their favorite toys to keep out until the day of the move. You don’t want a bored and frustrated kid driving you crazy for two weeks.
  3. Label your child’s boxes
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There are so many topics on investing that I could talk about - passive income, leverage, asset appreciation, flexibility, freedom, control. But the place to start is in knowing yourself. What kind of investor are you? The kind of investor you are will determine whether you are more likely to make money, lose money, or make nothing at all.

Sure, everyone goes into a deal with the expectation of making a profit. After all, that’s the idea of any investment. So if the intent is there (and they’ve found the right asset class), why is it that some lose money? Could it be luck? No, not really. What it really comes down to is knowing yourself and understanding the different types of investors - Real Investor, Speculator, or Spectator.

Real Investors

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Paint colour is a very personal choice when it comes to what colour some likes and doesn't like. Some people love purple while others don't want it in anything they own. This is why it is critically important to take the colours in your home into consideration before you put it up for sale.

Imagine that your favorite colour is bright turquoise. You've lived in your home for many years and the decor is very much your style. You have several walls in your living room painted bright turqoise and one wall is a turquoise coloured wallpaper for accent. Sure, you love it but buyers won't and it will hurt your selling price.

How Does It Affect the Selling Price?

A buyer walking into a home instantly starts making a list of the things they would need to

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It seems everyone has an opinion of real estate values in Edmonton. Yesterday the young woman serving our table at lunch made friendly conversation and casually mentioned that she was excited to move into her new condo. It was her first purchase and clearly she was very excited. She mentioned that others from work and some friends were all in the market looking for homes too and that with all this buying activity it was obvious to her that prices would continue going up.

This ties into my post from yesterday so I thought I'd expand on it. She was describing the concept of supply and demand; when demand exceeds supply, prices go up (a sellers’ market) and conversely, when supply outpaces demand prices go down (a buyers’ market). But is this the whole

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The average selling price for a single family home in Edmonton (as of June, 2014) remains steady and sits at $435,534. Some say it is poised for a correction while others say that $435,534 represents exceptional value for a single family home in a major Canadian city like Edmonton.

I believe that it’s much easier for local buyers to experience the ‘sticker-shock’ of home prices in Edmonton. Local buyers were the ones who remember their neighbor's home selling for $150,000 in the 1990’s, then in the high $200,000’s in the mid 2000’s, so it’s easy to see why as a local we can’t imagine these same properties going for 5, 6 or even $700,000, but they will!

Surely anyone moving here from Calgary, Vancouver, Toronto, Montreal, or Ottawa arrives in the

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Welcome to the newly designed website for DePrato Associates of RE/Max River City. We are excited to be unveiling some fantastic new features to make buying and selling a home easier than ever. We are sure you will find our website to be an excellent resource throughout your home buying or selling experience. Let’s take a look at what’s new!

Looking to Buy?

We have the best tool to help you right on our home page. It’s our Interactive Edmonton Map and it’s something no other Realtor offers. We’ve created a map of the city that is divided into areas and communities and with a simple click you can instantly refine your search. Do you know that you want to live in Millwoods, Millcreek, Capilano or Castledowns? Click on the correct link on the left side

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