I want all of my trusted and valued clients and thier friends and family to be informed and not fall prey to unlicensed mortgage brokers and agents.  This is an important alert that came out from RECA - The Real Estate Council of Alberta today and if you or anyone you know has been approached or has had contact with Derek Johnson from Joe Rheal Estate then you need to read the following.  



Consumer Alert: Derek Johnson, aka John Davis,  
Predatory Real Estate and Mortgage Practices - Unlicensed Activity     

For immediate release 
November 13, 2014

Derek Johnson is breaking the law. He needs a licence under the Real Estate Act to trade in real estate on behalf of others and deal in mortgages. He does not have these licences and has never had them.

Derek Johnson says he is helping people. He is not. He preys on home owners who are in a vulnerable financial position and facing foreclosure. 


Johnson used to operate Free List Calgary and is currently involved in www.joerhealestate.com (Joe Rheal Estate). He has also been involved in Partners in Success Mortgage Inc. and New Age Financing. None of these are licensed to trade in real estate or deal in mortgages in Alberta.


The Real Estate Council of Alberta has issued a direction to Johnson to cease unlicensed practice. Johnson has ignored this direction to stop. The Council is taking further action.


If someone offers to represent you in a real estate transaction or to deal in a mortgage for you, ensure that individual is licensed by RECA. RECA is the licensing and governing body for real estate, mortgage brokerage and real estate appraisal professionals in Alberta. Consumers can find out if an individual is licensed through RECA’s website, www.reca.ca. Use the “Searching for an Industry Professional” tool.

Licensed individuals must meet and maintain licensing requirements. Among them, individuals must provide a Certified Criminal Record Check prior to licensing, complete comprehensive pre-licensing education and ongoing re-licensing education, and maintain errors and omissions insurance. In the event of a licensee’s fraud, breach of trust or failure to account or disburse money in accordance with the terms of trust, a consumer may be eligible for compensation from RECA’s consumer compensation fund. 


If you have concerns as a result of dealings with Derek Johnson, Free List Calgary, Joe Rheal Estate, Partners in Success Mortgage Inc. or New Age Financing, please contact the Real Estate Council of Alberta toll-free at 1-888-425-2754.


For Professional Real Estate Advice Contact Lawrence today!

The Realtor Friends Recommend to Friends!

Read full post

 


Check out my new LIsting here


MLS# C3633458

39 VALLEY CREEK Crescent NW 


Stunning bungalow - nestled in a quiet cul-de-sac in Valley Ridge across from Ridge Estate homes!! The ultimate family home with a large - VERY PRIVATE - west back yard. This Albi built home has been upgraded with high end finishing including hardwood floors and granite counter tops with a dramatic Great Room featuring vaulted ceilings and extra large sun-drenched windows. The perfect family home with a good sized kitchen and a large granite island. There are three bedrooms up (the front bedroom makes the perfect den)- and has two full baths up. Excellent master bedroom with a large walk-in closet and a great ensuite bath.There is a fully developed basement with two wonderful bedrooms - a large family room and a full bath. There is a freshly painted front and rear deck - and the entire property has OUTSTANDING landscaping with low maintenance in mind. Be the first to view this outstanding Valley Ridge home.


Second highest MLS sales ever for the month


CALGARY - Calgary’s booming resale housing market showed no signs of slowing down in October as MLS sales reached their second highest level ever for the month while prices continued to gain year-over-year.


According to preliminary, unofficial data from the Calgary Real Estate Board, total MLS sales in the city during the month increased by 10.27 per cent from last year to 2,148. The median price was up by 5.33 per cent to $430,550 while the average sale price rose by 6.49 per cent to $486,411.


New listings of 2,919 were up 15.79 per cent from October 2013 and active listings at the end of the month increased by 15.23 per cent to 4,425.


“October showed little sign of the housing market slowing down as sales momentum continued this month. Positive sales growth throughout the housing sector was demonstrated largely in part by the record number of luxury home sales as well as a steady resale market,” said Kaitlyn Gottlieb, a realtor with Century 21 Bamber Realty Ltd. “Net migration and population growth, coupled with Calgary’s vast employment opportunity together with comparatively high wages, remain the driving factors behind the price growth Calgarians continue to see.


“Although still below historical norms, improvements in Calgary’s inventory levels and the easing of market tightness has added to listing growth and furthered stability, alongside sales this quarter. As we approach the end of fall, we continue to see a firm confidence in both homebuyers and investors adding to the anticipation that sales will remain at a positive level moving into the winter months.”


Mike Fotiou, associate broker with First Place Realty, said October sales were just behind the all-time record of 2,204 set in 2005 for the month.


Average sale prices in October neared the all-time records of $492,136 for the city which was set in June this year and $567,653 in the single-family market which was established in September.


In October, the single-family home market saw sales of 1,463, up 9.75 per cent year-over-year. The median price rose by 8.41 per cent to $490,000 while the average sale price was up by 7.50 per cent to $555,114.


The condo apartment category had 385 transactions, up 14.24 per cent. The median price rose by 4.04 per cent to $283,000 and the average sale price increased by 4.18 per cent to $322,357.


In the condo townhouse segment, sales of 300 were up by 7.91 per cent from last year. The median price of $333,766 and the average sale price of $376,227 were up 4.71 per cent and 3.70 per cent respectively.


And in the towns outside Calgary market, MLS sales climbed by 27.13 per cent to 492 transactions as the median price was up 7.57 per cent to $387,250 and the average sale price rose by 7.40 per cent to $419,508.


Ann-Marie Lurie, chief economist with CREB, said overall demand continues in the local real estate market.

“We’ve had the strong employment growth. The migration that we’ve seen over the past few years. And now there’s been listings. So there’s been some selection in the market and that’s really encouraged some of that demand,” said Lurie. “We still are in a period of favourable lending rates. All of that is encouraging the sales activity that we’ve seen.

“It hasn’t shown any sign of slowing because we’ve had the listings. What’s really shifted is that the market is more balanced now than it was even three to six months ago.”

 

mtoneguzzi@calgaryherald.com

Twitter.com/MTone123

© Copyright (c) The Calgary Herald


Read full post

(NC) Just as life changes over time, the terms of a mortgage may need to change too.

 

 

“It's important for homeowners to review their mortgage regularly to make sure it's still the best fit with their current and future financial goals,” says Nupi Zubair, associate vice president of retail products at TD Canada Trust. “Depending on the situation or stage of life, a homeowner may want to reassess how quickly the mortgage is paid down or the frequency and size of their payments.”

 

Zubair offers some simple strategies for homeowners who want to reduce the cost of their mortgage and pay it off faster:

1. Increase mortgage payments. This can significantly reduce interest costs as well as help you pay down a mortgage faster.

 

2. Choose weekly or bi-weekly rapid payment options. Like increased payments, more frequent payments also reduce interest costs and help pay off a mortgage faster.

 

3. Make lump sum payments. Consider putting any extra cash, such as a tax refund, towards a mortgage. Just keep in mind what your prepayment privilege amounts are.

 

4. Explore flexible options. If caught between wanting to pay off a mortgage as quickly as possible and worrying about cash flow, take advantage of options which allow you to pay more when possible and ease off in months when other expenses prevent large payments.

www.newscanada.com

 

 

For mor information Contact Lawrence Cuming Today

Read full post


Nothing feels better than getting into a neighbourhood BEFORE it becomes a trendy hotspot. But how can you identiify those up-and-coming hotspots? Here is what to look for...


1.    Trendy businesses
Look for a surge of trendy businesses moving into an area. Maybe there are more cupcake shops and microbreweries making an appearance, or perhaps the new health food store that everyone seems to be talking about announced a new store in the area. Large businesses especially do a lot more research and analysis of a neighbourhood. So, big businesses moving in often means a lot of homebuyers will follow.

2.    Convenient location
Are there any neighbourhoods that already have a subway station or major highway artery, but aren’t getting the attention that other areas are? As cities gentrify, neighbourhoods with strong transportation grids – whether public transport or by highways and bridges – will become more popular.
3.    Downsides moving up
Look for regions that have had a sharp improvement in crime rates; as those rates move down, the number of people looking to settle in that neighbourhood will go up. Also look to the new generation of homebuyers, who are likely looking for something different from their parents. While gritty, urban-looking buildings may once have been a turn-off, a new generation might see that as an ultra-trendy hotspot.
4.    Architecture
Many up-and-coming neighbourhoods have a definable style of home. Maybe it’s the old Victoria properties, or sleek and modern condos. Neighbourhoods with a unique style often become popular over time.
5.    Economic development
This one’s a no brainer. If a major corporation just built a new headquarters, it’ll need workers. And a lot of those workers are going to be looking in the neighbourhoods surrounding their place of employment to purchase homes. Other economic drivers, like new highways or extended transit systems, are great indicators that a neighbourhood could experience a surge in popularity.

6.    Lots of renovations
It doesn’t hurt to check with local municipal permit departments to see if they’ve noticed an uptick in the number of renovation and building permits for a particular neighbourhood. Several owners giving their homes a facelift is a good sign that the neighbourhood as a whole will get the same treatment over time.

7.    Days on market
A decrease in the number of the days on the market is a strong indicator that a neighbourhood is becoming more popular. People are looking to scoop up houses before anyone else – and that’s a great time for real estate agents.

Identify a handful of these up-and-coming areas and position yourself as the go-to expert there. When homebuyers eventually descend on the neighbourhood, you’ll be the agent they turn to.

 

Written by  olivi from the Canadian Real Estate Magazine 

Read full post

For most Canadians, their most valuable asset is their home. And yet too many have only a vague understanding of the insurance policy that covers their house and contents. Unfortunately, many find out too late — when they have an expensive claim denied — that their understanding of their policy is based more on misconceptions than on fact. The P&C experts from Desjardins Insurance would like to help you by clarifying some of the common misconceptions about property insurance.

 

 

Misconception 1 - Your home insurance will cover any type of major loss.

The typical home insurance policy will cover a fire loss, as well as damage caused by lightning, windstorms, hailstorms and even tornados. However, damage from earthquakes is not covered by standard homeowners' insurance. You can purchase special coverage, though the cost can vary considerably depending on the risk in the area where you live. Not surprisingly, earthquake coverage is more expensive in Vancouver than in Winnipeg. Standard homeowners' policies in Canada also exclude flood damage. However, policies generally cover other kinds of water damage, for example from a broken water main on the street or a burst pipe in a house.

 

Misconception 2 – I will receive full market value for my house if it burns to the ground.

The value of a home insurance policy is usually based on the cost to rebuild the house, not to sell it on the marketplace. Replacement costs will include the material (lumber, roofing shingles, siding material, carpet, drywall, etc), the labor costs, architectural services and so on. It is important if you do any renovations or additions to your home, that you let your insurance company know, as this could change the replacement cost of your home.

 

Misconception 3 – I will automatically get full replacement value for any personal belongings that are damaged.

No, depreciation would be factored in, which could reduce the value considerably unless you had optional replacement-cost coverage. In that case, you would be able to replace the item with a new one with the same or similar features. In addition, valuable items such as jewelry or artwork are usually subject to a payment cap, unless additional coverage is purchased.

 

Misconception 4 – Renters who don't own any fancy stuff don't need insurance.

Not true. You'd be surprised how much it costs to replace even basic contents, such as furniture, kitchen supplies, clothing, and electronics like computers, TVs and cell phones. Plus, you need to ask yourself if you could afford to rent a hotel for a few weeks if your apartment needed major repairs. If not, then tenant insurance is a must. This insurance protects your property and also covers you in case you accidentally cause damage to the property of others. It's simple, affordable and definitely necessary.

www.newscanada.com

 

If you are Selling or Buying a Home in Calgary Contact Lawrence today!

 

 

Read full post
Categories:   7 Storage Ideas for Small Kitchens | Acadia, Calgary Real Estate | Airdrie, Airdrie Real Estate | Arbour Lake, Calgary Real Estate | Auburn Bay, Calgary Real Estate | Bankview, Calgary Real Estate | c | cal | Calgary | Calgary community living green and loving it | Calgary Re | Calgary Real Estate | Calgary Real Estate Board | calgary stampede | Calgary Statistics for the Month of September - almost a 6% increase in prices from last year | Canyon Meadows, Calgary Real Estate | chaparral | Chaparral Calgary Real Estate | Chaparral Valley, Calgary Real Estate | Chaparral, Calgary Real Estate | Cranston, Calgary Real Estate | Douglas Rdg_Dglsdale, Calgary Real Estate | Douglasdale/Glen, Calgary Real Estate | Dover Glen, Calgary Real Estate | EchoHaven | Heritage Pointe, Heritage Pointe Real Estate | High River, High River Real Estate | Hillhurst, Calgary Real Estate | How to keep a mortgage in tune with your financial goals | Huntington Hills, Calgary Real Estate | Langdon, Langdon Real Estate | McKenzie Lake, Calgary Real Estate | McKenzie Towne, Calgary Real Estate | MLS sales | MLS# C3633458 | New Brighton, Calgary Real Estate | Ogden, Calgary Real Estate | Okotoks, Okotoks Real Estate | Prominence_Patterson, Calgary Real Estate | real estate | renovating | Richmond, Calgary Real Estate | Rural Mountain View County, Rural Mountain View County Real Estate | Rural Rocky View MD, Rural Rocky View County Real Estate | Rural Rocky View MD, Rural Rocky View MD Real Estate | Shawnee Slopes, Calgary Real Estate | Shawnessy, Calgary Real Estate | Signal Hill, Calgary Real Estate | Silverado, Calgary Real Estate | Springbank Hill, Calgary Real Estate | stampede | Stunning bungalow - nestled in a quiet cul-de-sac in Valley Ridge across from Ridge Estate homes | Sundance, Calgary Real Estate | Valley Ridge, Calgary Real Estate | Varsity, Calgary Real Estate | Woodbine, Calgary Real Estate | yy | yyc | yycre | yycreyyc
Categories
Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.