Terri Stephens | 403-827-4663

 

OUR annual HO HO HO SHOW will be this FALL - NOV. 17  at our Town & Country Hall.

 

visit:  airdriewomen.ca

 

for more information -

 

Table Rentals and Memberships are available.

 

Will be a Spectacular SHOW -  

 

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160 Acres inside NE Calgary, newly annexed

 Quarter Section located within the city limits of Calgary. This parcel of land is located within The City of Calgary boundaries and is presently in the Northeast Regional Policy Plan.

The new airport expansion lies directly to the south and west and will create thousands of jobs.  As well, to the north is Rocky View County.  There is the Cross Iron Mills Mall, Costco, proposed Horse Race Track, Wagon Wheel Industrial Park, where Wal-Mart has their Western Regional food distribution warehouse. As well there is the Highfield Industrial Park and Target is presently building their western regional warehouse there with much more growth on the books.

Price: $17,600,000



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Rule Changes - The Ugly

 


Hope you are all enjoying the summer and getting ready to get back to normal routines.

Back in July, the Canadian Government made changes to the mortgage lending rules and I would like to review four financing situations that highlight how much impact these changes have going forward.

1) Nullified Switch

The Facts: Your existing mortgage with a remaining amortization of more than 25 years is up for renewal. You have less than 20 percent equity. You have found another lender with a great rate but your gross debts exceed 39% of your income.

The new reality: Kiss the better rate goodbye. Only your existing lender with the higher rate can re-lend without re-qualifying you.

 

 

 

2) Consolidation Blues

The Facts: You have an existing mortgage and would like to increase it to consolidate some high interest debt or to make improvements to your home. However, the additional needed funds push you above the 80% refinance limit.

The new reality: No can do. You will have to continue paying the high interest debt as is. As for the home improvements, you might have to forget them or obtain a higher interest loan elsewhere. All this comes at a higher interest rate than it would have under the old rules.

3) Moving up!

The Facts: You have outgrown your existing home and would like to buy a bigger and more expensive one. You want to increase your existing mortgage to do this but have less than 20% equity.

The new reality: You will have to qualify under the new rules on your entire mortgage, even on the existing part. This means that your gross debts will need to be less than 39%, you are capped at 25 year amortization and the purchase price will need to under $1 million.

 

 

 

The Facts: You have an existing home equity line of credit (HELOC) and want to make some changes such as change the lender, increase the borrowing amount or add a new mortgage portion to the HELOC.

The new reality: Any of these changes could limit your HELOC to 65% of the value of your home.

These are only four examples which hopefully show the implications of these new rules. I am sure there are many others but at least this will get you thinking. The Government’s objective to reduce Canadian household debt is a good one. However, I question whether some of the new rules do this. Also, studies show that mortgage debt is not the big issue. It is credit card and other debt that needs controlling.

 

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I have listed a new property at 29 COOPERS CLOSE SW in AIRDRIE.
Fully FINISHED, SOUTH back yard facing onto green space. Gas Line for Family BBQ dinners. Fully Air Conditioned to keep you cool. Tile, Hardwood flooring with rich tones of color throughout. There are TWO fireplace one in the living room the other in the Causal Family ROOM downstairs. Large Master Bedroom with walk in closet and Ample sized ENSUITE with tub and separate Shower. 3 Bedrooms in total all a good size. LARGER heated garage. Kids are CLOSE to school, and YOU can get to anywhere you need to go from Walmart to Crossiron Mills to Downtown. MOVE in READY NOW
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I have sold a property at 1310 4 ST NW in CALGARY.
IN THE HEART of CRESCENT HEIGHTS a short distance to DOWNTOWN a charming CHARACTER home is FOUND. OVERSIZED lot with loads of potential as the COMMUNITY is being REVITALIZED. 3 Bedrooms in total with 2 Bathrooms. SINGLE car Garage plus parking pad. Large mature YARD with TREES for privacy. FRONT sitting area to watch the DAY or ENJOY morning COFFEE. Back covered deck is great for SUMMER days. SO CLOSE to many of CALGARY'S attractions and with LOCAL transportation just STEPS away. THE CITY IS at your doorstep - where would you like to GO?
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I have sold a property at 927 MOODIE RD NE in CALGARY.
ON the COVER of a MAGAZINE. This CUSTOM show stopper TWO Storey will INVITE you in to STAY. VERY unqiue floor plan. Hardwood floors, Movie Set Mantle Fire Place,Garland 6 Burner Gas Stove with High end Fan. 28 x 28 Garage, Heated and 220V - Mechanics Dream. Dormers ADD charm and Curb Appeal to this home. This home has been renovated with precision and grace. Truly worth looking at.
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I have sold a property at 1027 PRAIRIE SPRINGS HILL SW in AIRDRIE.
TURN KEY - READY AND FURNISHED. This stylish home will surely CHECK all the Boxes. Granite, Stainless steel, high ceilings, everything STAYS...Professionally finished back yard plus there is a paved lane. TREES, stepping stones, pathways and a patio..perfect for ENTERTAINING. Main floor open concept welcomes your guests, plus a upper Bonus ROOM for movie night. SHOW HOME quality - well cared for - Pride of Ownership throughout. YOU will BE impressed the MINUTE you walk into this home...you'll be so TEMPTED and WANT TO STAY - and call it HOME.
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I have sold a property at 180 FAIRWAYS DR NW in AIRDRIE.
ATTENTION - 5 BEDROOMS plus 4 Bathrooms. ROOM FOR Everyone!!!! ALL bedrooms are of GENEROUS size, two have built in desks for the student in your family. MAIN Floor DEN, Corner Fireplace, GAS line on Deck, FIREPIT, all APPLIANCES STAY. ALL THIS BACKING ONTO Golf course with TREES and MORE Trees. LOWER Level developed by builder with exceptional space for TV room, plus two bedrooms. GARAGE has KEYLESS entry plus a separate man door, INSULUATED and READY for you. GREAT CURB appeal surrounded by pride of ownership neighbours. THE FAIRWAYS where life treats you well. *** Q U I C K P O S S E S S I O N ***
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I have sold a property at 912 PRAIRIE SPRINGS DR SW in AIRDRIE.
FLEXIBLE floor plan that will suit all your family needs. High Ceilings and High Kitchen Cabinets. Appliances Included, added bonus is the Gas Line for the Barbeque on the deck. 5 piece master bedroom ENSUITE. Generous SIZED bedrooms, great for the kids. Loads of GRANITE Counter tops to Hardwood Floors. You will LOVE the BONUS room, where you can CATCH the game. Jetted Soaker Tub, Double Vanity and large TWO Seated SHOWER. Wrought Iron Railing spindle stair case. You will be IMPRESSED with all the natural light in this home. Main FLOOR pass through to Laundry and PANTRY. EAsy convenient ACCESS to the DOUBLE garage. Lower level awaits your touches, big windows and Roughed in Plumbing. BOOK to see this HOME today.
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I have sold a property at 203 WOODSIDE CRES NW in AIRDRIE.
***MOVE IN BEFORE SUMMER ENDS**BIG 4 LEVEL SPLIT with so much room for the ENTIRE FAMILY, 5 BEDROOM potential plus 3 full baths. 1986 square feet FULLY Air Conditioned, and move in ready. SMOOTH like silk HARDWOOD floors, all bathed in natural light. Ample sized Kitchen with space to dine in - loads of storage. Outdoor easy care lawn with underground sprinklers, gorgeous deck, Gas BBQ line, park views, kids play park - this home boasts great space - With a DELICIOUS sense of LIFESTYLE you will be impressed - WOODSIDE a Great Family/GOLF community.
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I have sold a property at 166 TIPPING CLOSE SE in AIRDRIE.
LIFESTYLE made EASY its all been done - New ROOF, New SIDING, Flooring, Bathrooms and more. MOVE in condition - 4 BEDROOMS plus TWO Full Baths. Double Car Garage. THIS home offers SPACE with FAMILY in MIND. Kids can play in the lower GAMES room, while you WATCH the PLAY OFFS. Entertain in the dining room or enjoy a FAMILY meal in the kitchen. NEW deck with Lattice work and HOT TUB area(hot tub included) - "BBQ NIGHT" anyone? Back lane for easy ACCESS to yard -SERIOUSLY this home is worth a LOOK. Super location for Rec Centre, Schools and Restaurants. THIS home is a real Pleasure to view.
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I have sold a property at 22 SPRINGS CRES SE in AIRDRIE.
ATTENTION HOME BUYERS! FULLY FINISHED HOME AT THIS PRICE! Enjoy the PRIVACY of a NO ONE behind you and friendly neighbourhood in this beautiful home. Close to schools,grocery and other amenties. SPACIOUS open concept on the main floor with a SUNNY BACK YARD. The kitchen has ample cupboard space with a eat in kitchen plus recent updates. Corner fireplace with fan. Relax in your Master Bedroom complete with a walk-in closet and 3-pce ENSUITE. There is MAIN FLOOR laundry for your convenience. The basement is finished with a Bedroom and FAMILY ROOM. Entertain your friends this summer on the larger DECK! Front Porch to relax on during those SUNNY days. First time home buyers, THIS is your new home! Nothing to do but move in, put your feet up and enjoy the neigbourhood! Be the first one to get to this property! You won't want to miss out!
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I have sold a property at 117 SECOND AVE NW in AIRDRIE.
DOWNTOWN charm ON A LARGE LOT !!!!Fruit Trees ,Flowers and Vines amongst the Gazebo and Green House. Newer Roof, Windows, Furnace, Hot Water Tank, Water Filtration System IT'S ALL BEEN DONE!!! This home offers 4 bedrooms, large Family room, plus 2 full bathrooms. Eat in Kitchen plus separate dining room. GREAT HOME TO RAISE YOUR CHILDREN, plus potential for future city plans in 2014. A real Favorite is the covered Sun room fit for meal time or a GAME of cards. ROOM For a LARGE GARAGE and extra parking. A wonderful enchanting feeling comes over you walking while strolling in the garden. Downtown Airdrie - enjoy cafes, shops and local restaurants. QUICK Walking distance to SPA, Banks, Accountants, and BUTTER CHICKEN!!! **QUICK EZ possession**
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I have listed a new property at 426 FAIRWAYS MEWS NW in AIRDRIE.
Executive LIVING in AIRDRIE backing onto SPLENDID Greens and Fairways. CUSTOM fully finished attention to every detail two storey home. Luxurious Master RETREAT with TRANQUIL spa Ensuite. Upgraded high end appliances and custom Cabinetry in the INSPIRED chef kitchen. OUTDOOR deck overlooks views that reach the sky. Patios below with professionally Landscaped grounds. Outdoor fireplace Retreat enjoy Fruit Infused water and watch the kids play, at NIGHT turn up the FLAMES enjoy a Martini. TRULY a majestic HOME for a price that will inspire you to move. A little bit of real estate history! Did u know that the largest two storey that sold on MLS in Airdrie was 3240 s.f. and sold for 1.1M$. This amazing home is located on a quiet cul-de-sac , facing a very safe area of the Woodside Golf Course AND size of this home is 3220 s.f. You do the math....
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I have listed a new property at 106 MORNINGSIDE PT SW in AIRDRIE.
ROOMY HOME with great views!! NO one behind you - VERY RARE!! Views of park, pathways and stunning water views. 4 BEDROOMS - 3 1/2 Bathrooms. Professionally finished throughout. Large main floor with SEPARATE dining room / office. Main floor laundry with sink area and storage. BIG BIG bonus room great for LARGE screen TV. Lower LEVEL features FIREPLACE, games area, Rec Room and Snack Prep Area. TOTALLY decked out for FAMILY MOVIE night or for the Extended Family. WALK OUT basement to your own private yard - plus straight onto a park area. NO one behind you!!! GET more house for your money - Possession is Negotiable. CALL to VIEW today.
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I have listed a new property at 23 ERHART CLOSE.
BUNGALOW !!! BUNGALOW!!! FEEL at home the minute you walk into this 1400 plus sq.ft. home. SKYLIGHTS, high ceilings and loads of windows. BACKING onto GREEN SPACE with WATER Views just add to the SPECTACULAR appeal of this home. Stainless Steel Appliances, Convection OVEN, Walk Thru PANTRY, Double sinks all SURROUNDED by GRANITE counter tops. Large Master Bedroom will fit a California King bed, walk in closet, double sink ensuite with sit in shower. Basement offers another 1400 sq.ft. ready for your touches, featuring IN-FLOOR heat and HOT WATER on Demand. THE VIEWS, THE HOME....call it yours today. Map Available - just call.
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I have listed a new property at 275 PRESTWICK ACRES LANE SE in CALGARY.
THE MOSAIC's In McKenzie Towne - great place to call HOME. THE minute you walk in the function, layout and pride of ownership shows. Recently PAINTED and MOVE in READY with a FLEXIBLE possession. 2 Bedrooms with large closets. Two Bathrooms plus a computer desk Niche area upstairs. FENCED backyard plus backing onto greenspace, gives you the feeling of space. LOWER level features laundry area and storage. Walk right into the oversized SINGLE garage. With local stores and restaurants just around the CORNER the townhouse makes for great living and surely a wonderful LIFESTYLE.
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I have sold a property at 2475 KINGSLAND VIEW SE in AIRDRIE.
OVER 2400 square feet of living space. This custom W A L K - O U T bi-level professional finished inside and out. Featuring up to 5 BEDROOMS if needed. Make TWO of them into HIS & HERS offices, that will make life easier. Stainless Steel appliances (GAS STOVE), plus a wine fridge. TV outlets placed well throughout this home. RICH hardwood floors and HIGH ceilings. WATERFALL, stamped concrete, and two patios in the SOUTH backyard will mesmerize you. Home is Wired for AC, and a HOT TUB with 220V. A SOLID BUILT home FOR YOU.
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http://www.cmhc.ca/newcomers/

 

Here is a wonderful link to CMHC to help NEWCOMERS to Canada learn more about owning a home in Canada.

 

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Apart from setting money aside for Calgary mortgages, more city residents – as well as those living countrywide – may want to increase their emergency savings fund.

According to a poll conducted by CIBC, approximately half of Canadians don't have adequate savings for emergencies. The most likely to be prepared for emergency situations are residents in the 45-to-64-year-old demographic; three in five of these residents have emergency funds.

Christina Kramer, CIBC's executive vice president of retail distribution and channel strategy, indicated having extra money set aside for unforeseen circumstances related to one's home is vital, and many Canadians are recognizing that.

"Our poll shows an opportunity for more Canadians to start building up an emergency fund, to help get them through an unexpected expense and avoid dipping into long-term savings to pay for a short-term problem," she said..

Prospective homeowners may want to focus on conserving enough money for a down payment and a mortgage prior to worrying about emergency home savings.

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