Terri Stephens | 403-827-4663

 

Generations X and Y Will Prove They Believe in Homeownership

Contrary to what many have hypothesized over the last few years, young adults (18-35 year olds) are just as committed to homeownership as previous generations. Recent studies have shown:

  • 43% already own a home
  • 72% see homeownership as part of their personal American Dream
  • 93% of those currently renting plan to buy a home

This, along with the increase in household formations mentioned above, makes us believe that 2013 will be the year that many of these young adults will jump into homeownership

Post CommentComments: 0Read Full Story
I have listed a new property at 218 10 Discovery Ridge CLOSE SW.

Easy to Show - call your Favorite Realtor® for give us a quick call.

Executive CONDO that is well cared for and shows pride of ownership. The large balcony gives you privacy with stunning views. 9 foot ceilings, phantom screen door, granite counters, and more. Large spacious walk in closet - "dream closet alert"

Take a look at MLS C3548782

Read Full Story
I have listed a new property at 6 MILLVIEW WAY SW in CALGARY.
CRISP and CLEAN move in READY... on a QUIET no through Traffic Street. This inviting 2 bedroom home with main floor laminate, well appoionted kitchen makes you feel INSTANTLY home. Gas fire place, patio doors onto private green space with patio. All appliances INCLUDED. You will be IMPRESSED at the bedroom sizes and all the storage available. Parking is a BREEZE with a single garage and driveway. LOCATION of convenience with easy access to TRANSIT, main roads and SHOPPING. This TOWNHOUSE will MAKE an IMPRESSION the minute you ENTER the DOOR.
Read Full Story

Post CommentComments: 0Read Full Story
Please visit our Open House at 46 SYLVAN PL SE in AIRDRIE.
Open House on Saturday, January 12, 2013 1:00 pm
START 2013 off RIGHT with this Bi-level is where you can make your DREAMS come true, walk the kids to school and have room in the garage for all your toys. 24 x 26 DOUBLE garage, trailer and RV storage in this larger than most backyards. This Home boasts over 1600 square feet of living space. The main floor features laminate flooring with plenty of natural light streaming throughout. Downstairs features a bedroom with big windows, bathroom, TWO family rooms and laundry area. Freshly PROFESSIONALLY painted, Newer ROOF,FURNACE and Central Air all done just a few short years ago. 2 Garden Sheds, Dog Run & House surrounded by mature trees. Appliances ALL included - making MOVE in DAY..a breeze PLUS a flexible POSSESSION. **OPEN HOUSE Saturday and Sunday 1pm to 3pm - Jan. 12th and 13th***
Read Full Story
I have listed a new property at 46 SYLVAN PL SE in AIRDRIE.
RING IN THE NEW YEAR WITH this Bi-level is where you can make your DREAMS come true, walk the kids to school and have room in the garage for all your toys. 24 x 26 DOUBLE garage, trailer and RV storage in this larger than most backyards. This Home boasts over 1600 square feet of living space. The main floor features laminate flooring with plenty of natural light streaming throughout. Downstairs features a bedroom with big windows, bathroom, TWO family rooms and laundry area. Freshly PROFESSIONALLY painted, Newer ROOF,FURNACE and Central Air all done just a few short years ago. 2 Garden Sheds, Dog Run & House surrounded by mature trees. Appliances ALL included - making MOVE in DAY..a breeze PLUS a flexible POSSESSION.
Read Full Story

Unfortuately there are many foreclosures properties in Calgary…

While you can buy some foreclosure real estate at below-market prices, it also brings a unique set of circumstances that you may not encounter in a more typical home buying scenario.

Many markets saturated with foreclosed properties, more prospective homebuyers are taking a closer look at these types of properties than ever before. Purchasing a foreclosure isn't just a simple matter of scoring a dirt-cheap bargain, however. What should you worry about--or not--when buying a foreclosed property?

Foreclosures being sold by banks have long been an attractive opportunity for real estate investors. But today many consumers are purchasing them as primary residences.

The big attraction of purchasing a foreclosure is the expectation that it can be bought at bargain-basement prices. Whether that expectation holds true depends largely on local market conditions and Terri Stephens with CIR Realty calls the "desperation factor" of the bank that needs to sell the property.

Foreclosure properties are just harder to deal with. Here's what you need to know…

"People want to get houses for half price, and that's not going to happen," says  an industry member. 


In general, Foreclosures do offer some discount from the market value of the property--anywhere between 5 percent to just over 30 percent. If foreclosure sales didn't come with some discount, there would be no reason for buyers to deal with the myriad headaches that these transactions can present. Make no mistake, short sales come with headaches, so you need to know what to expect.

Even though Foreclosures can be a bargain, that doesn't mean you should jump in with your eyes closed. "Foreclosure buyers need to do their homework so they understand the property, the market, the neighborhood, and the process,"

Here's what you need to know as a potential buyer of Foreclosure property in today's market.

Real estate agents can pull up foreclosures offerings for you. Most mortgage lenders want their REO properties listed on the multiple listing service (MLS) so that any real estate agent can show them to potential buyers.

Discounts on foreclosures vary greatly, depending on whether the homes are severely damaged and where they're located. Although damaged Foreclosures might sell for a relatively minor discount -- 5 percent to 7 percent off comparable private sales of non-damaged homes -- some might offer as much as a 30 percent discount.

But being listed as an Foreclosure doesn't mean that a property will automatically be a bargain. Banks are in business to make money, so of course they're going to price homes as competitively as possible. This is why it's important to have solid representation on the home you plan to purchase.

Foreclosures are sold "as-is," and that's why you need a home inspection before committing to a purchase. A thorough inspection is even more important for an Foreclosure than for a standard property.

Be financially savvy

I encourage potential buyers to get prequalified for a loan so that the seller knows the borrower will be able to close.


If you want to buy an Foreclosure property, will you have trouble getting a mortgage? If the property you're considering is in good condition, you shouldn't have more trouble qualifying simply on the basis of the home being Foreclosure, and likewise, you won't pay higher mortgage rates just because the lender knows you want to buy Foreclosure.

However, a significantly damaged property may close off some options for financing, because few mortgage financing programs exist for these types of homes.

Closing may take awhile…

Bidding on an Foreclosure isn't quite like making an offer on a privately-owned home, where you hear back from an owner fairly quickly. Instead, you'll submit your bid then you'll wait for a response with a counteroffer. Since a bank is a business, you may end up dealing with more than one person or department, and it can take awhile to get all of the paperwork processed.

The process can be frustrating and take more time.  On the other hand, because the home is an Foreclosure, the bank will already have taken care of any liens on the property, so your title search should be a breeze.

It's possible to turn a fixer-upper into your own personal castle, as long as you are patient and don't expect that an Foreclosure listing means an automatic windfall.

For Informed, experienced and successful representation.


I'm here to help you every step of the way.

 


Post CommentComments: 0Read Full Story
Categories: a | Airdrie condos, condos, foreclosures | Airdrie Stats | Airdrie, Airdrie Real Estate | Aireloom Mattress, Terri Stephens, CIR REALTY | Auburn Bay, Calgary Real Estate | calgary homes, airdrie homes, airdrie condos, calgary condos, | Carstairs, Carstairs Real Estate | census, population, fastest growing cities, Calgary Homes, Calgary condos, Airdrie condos | chestermere, real estate, calgary homes for sale | Coventry Hills, Calgary Real Estate | Crescent Heights, Calgary Real Estate | Crossfield, Crossfield Real Estate | Didsbury, Alberta Real Estate, Acreages | Discovery Ridge, Calgary Real Estate | economy, Alberta, Growth, Buying a home | every | everything | everything I touch turns to sold | everything I touch turns to sold, Calgary Spring Real estate market, Spring real estate market, Airdrie Spring market | Fairview, Calgary Real Estate | forecl | generation x, homeowners, Airdrie Condos, Calgary Condos | Harvest Hills, Calgary Real Estate | Hidden Valley, Calgary Real Estate | homes in airdrie | housing starts 2013, Bubble, Alberta, | Lower Mount Royal, Calgary Real Estate | Mayland Heights, Calgary Real Estate | McKenzie Towne, Calgary Real Estate | Millrise, Calgary Real Estate | New Condos in Airdrie | Olds, Olds Real Estate | Out of Province_Alberta, Out of Province_Alberta Real Estate | Panorama Hills, Calgary Real Estate | Pineridge, Calgary Real Estate | Royal Le Page Roger LeBlanc | Saddle Ridge, Calgary Real Estate | Taradale, Calgary Real Estate | TD Bank, ATB, Alberta Housing Market, Calgary, Alberta | terri stephens, cir realty, airdrie realtor, calgary real estate, airdrie real estate, first time home buyers | Thorncliffe, Calgary Real Estate
Blogs
Posts By Date
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.