Lawrence Cuming Sells Calgary!

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!

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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

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