Here in Edmonton, anyone willing to work for a living can buy a house. We see our move to Edmonton as a permanent exit from the Lower Mainland, with little expectation that we will ever be able to afford to move back. Not a problem though — the sun always shines in Edmonton.Read more: http://www.theprovince.com/business/Young+families+pull+stakes+better+life/6060161/story.html#ixzz1knZjqAbv
Saturday, January 28, 2012
Think house prices are bad in Edmonton?
This Vancouver article covers stories of families in Vancouver trying to make it with the high cost of housing there, and then typically moving to more affordable cities such as Edmonton.
Thursday, January 26, 2012
Top three innovations to improve home efficiency
(NC)—Our homes are a great measuring stick of how far we've progressed in the past 20 years, especially when it comes to their efficiency in terms of saving us energy and money.
Here are the top three innovative technologies that can improve the efficiency of our homes:
Home Automation
- It wasn't that long ago that an automated home was a focus of science fiction. Today, adding the convenience and control of our indoor climate, lighting, electronic media and home security, is increasingly affordable and accessible through home PCs, smart phone and tablet applications. With home monitoring systems you can track energy and water usage in real time, spot key sources of energy loss and make immediate adjustments.
- If your home is more than 10 years-old, there's a good chance it has fibreglass or cellulose insulation behind its walls. While these were once the insulations of choice, there are many holes in these technologies. Since they are difficult to install perfectly and can sag or settle over time, they can leave gaps and seams. It's like leaving a window open 24 hours a day in the freezing cold.
- Experts remind us that insulation advancements (like those from leading innovator Icynene) have brought us spray foam insulation options that won't settle, sag or leave any gaps. Spray foam acts as an air barrier and can deliver up to 50 per cent energy savings over older insulation options, while making our homes healthier, quieter and more comfortable. You can compare insulation options at www.icynene.com.
- Appliances and heating/cooling systems are essential in Canadian homes—and not surprisingly, they are constantly undergoing improvements. New energy-efficient refrigerators use less than half the energy of models that are 12 years old and use 75 per cent less energy than those produced in the late 1970s. (Source: National Resources Defense Council).
- If you have a conventional natural-draft furnace made before 1992 it might only operate between 55 to 78 per cent efficiency. Upgrading to a new induced-draft condensing furnace can increase efficiency to above 90 per cent as a result of more efficient heat exchangers and electronic ignition(Source: Mother Earth News).
Tuesday, January 24, 2012
Our Edmonton Economy Is On A Roll
According to a report put out by CIBC, Edmonton is the second-best city in Canada, in terms of economic momentum.
"If you look at Edmonton, the labour market is doing much better, population is rising, investment is rising, the real estate market is doing fine," said Benjamin Tal, deputy chief economist with CIBC World Markets and author of the report. "Edmonton is still up there."Read the complete Edmonton Journal story here.
Sunday, January 15, 2012
Tips for Buying That Perfect Home
It is often easy to narrow down the specific elements you want in a house, besides providing a roof over your head. How many square feet is it, does it have a lawn, is it in a great location; but it is important to consider your budget when dreaming up your ideal dwelling. Since this is your first house, you can take advantage of the Home Buyers' Plan which allows you to withdraw up to $25,000 from your registered retirement savings plan to buy or build a qualifying home.
Once you've finally chosen a house and put down the deposit, all that's left to do is pack up your belongings. Then, once tax season rolls around, you may be able to claim $5000 as the first-time home buyer's amount. This is a non-refundable tax credit representing tax savings of up to $750. You can find out if you qualify online at www.cra.gc.ca/hbtc.
www.newscanada.com
Friday, January 13, 2012
Save money on your home insurance
(NC)—You can't put a price tag on the peace-of- mind your home insurance offers you. Or can you?
It's true that you can sleep soundly at night knowing that your home, possessions and property are covered, and that your legal liability for injury or property damage to others is covered, but premiums are sometimes expensive. How does one lower insurance premiums without losing sleep?
James Savage, executive vice president of Western Financial Group, a leading western Canadian provider of insurance services, points out that we do have options when it comes to home insurance, as follows:
• Shop around. Get quotes from several insurance carriers. Insurance brokers, such as Western, will do the legwork for you, obtaining quotes from several insurance companies and providing you with a comparison so that you can choose the best option.
• Ask about discounts. Some insurance providers offer discounts if you bundle your home and auto policies, if you have a security system, if you stay with that company for a certain number of years, or if you have a sprinkler system. Find out what types of discounts each insurance provider offers.
• If you're in the process of buying a home, choose wisely. The age of a home's heating, plumbing and electrical systems, and the construction and location of your home can make a difference in your premium. Talk with an insurance broker about ideal home characteristics.
• Consider a higher deductible. Your deductible is the amount you pay out of pocket toward a claim before your insurance begins to pay. Raising your deductible—from $500 to $1,000, for example—will reduce your monthly premium. Make sure the deductible is a number you're comfortable with, though.
• Conduct an annual review of your policy. You might find areas in which you can reduce your coverage. For example, if your possessions have depreciated, you might choose to lower your policy limits in that area.
www.newscanada.com
It's true that you can sleep soundly at night knowing that your home, possessions and property are covered, and that your legal liability for injury or property damage to others is covered, but premiums are sometimes expensive. How does one lower insurance premiums without losing sleep?
James Savage, executive vice president of Western Financial Group, a leading western Canadian provider of insurance services, points out that we do have options when it comes to home insurance, as follows:
• Shop around. Get quotes from several insurance carriers. Insurance brokers, such as Western, will do the legwork for you, obtaining quotes from several insurance companies and providing you with a comparison so that you can choose the best option.
• Ask about discounts. Some insurance providers offer discounts if you bundle your home and auto policies, if you have a security system, if you stay with that company for a certain number of years, or if you have a sprinkler system. Find out what types of discounts each insurance provider offers.
• If you're in the process of buying a home, choose wisely. The age of a home's heating, plumbing and electrical systems, and the construction and location of your home can make a difference in your premium. Talk with an insurance broker about ideal home characteristics.
• Consider a higher deductible. Your deductible is the amount you pay out of pocket toward a claim before your insurance begins to pay. Raising your deductible—from $500 to $1,000, for example—will reduce your monthly premium. Make sure the deductible is a number you're comfortable with, though.
• Conduct an annual review of your policy. You might find areas in which you can reduce your coverage. For example, if your possessions have depreciated, you might choose to lower your policy limits in that area.
www.newscanada.com
Monday, January 9, 2012
Could a 30-year fixed mortgage happen in Canada?
An Edmonton Journal article asks a valid question, even if the title of the article is a bit misleading…
We already have 30-year mortgages in Canada. What the article is actually asking (and what many of the commenters appear to have missed) is if Canada should have 30-year locked-in fixed-rate mortgages (i.e. a mortgage that remains XX% and monthly payments that never change throughout its entire 30 year term).
Currently, it’s most common to take out a 25 or 30 year mortgage, but with a 5 year term. That means the interest rate (and payments) stay fixed for the next 5 years. But at the end of 5 years, it’s time to renew, and if interest rates have skyrocketed in that time, there could be a staggering increase in monthly payments. A 30-year fixed-rate mortgage may be an attractive option for anyone who plans to stay in a home long-term, and who wants the security of knowing their monthly payment will never go up, from the time they buy the home until it’s completely paid off. What are your thoughts?
Read the complete Edmonton Journal story here…
Turchansky: Do Canadians need 30-year mortgages?
We already have 30-year mortgages in Canada. What the article is actually asking (and what many of the commenters appear to have missed) is if Canada should have 30-year locked-in fixed-rate mortgages (i.e. a mortgage that remains XX% and monthly payments that never change throughout its entire 30 year term).
Edmonton financial adviser Shawn Allen of InvestorsFriend Inc. has been prodding financial writers to lobby financial institutions to offer Canadians an “affordable” 30-year locked-in mortgage, insured and with minimum penalties for refinancing.
Currently, it’s most common to take out a 25 or 30 year mortgage, but with a 5 year term. That means the interest rate (and payments) stay fixed for the next 5 years. But at the end of 5 years, it’s time to renew, and if interest rates have skyrocketed in that time, there could be a staggering increase in monthly payments. A 30-year fixed-rate mortgage may be an attractive option for anyone who plans to stay in a home long-term, and who wants the security of knowing their monthly payment will never go up, from the time they buy the home until it’s completely paid off. What are your thoughts?
Read the complete Edmonton Journal story here…
Nice home, quiet complex, rare find
It's not often a home in this well-maintained, quiet complex comes up for sale. Now's your chance to own a move-in-ready home complete with all appliances (1 yr new washer, dryer and stove), newer furnace, hot water tank, shingles, windows, doors, paint, laminate flooring, light fixtures and more. There's even a new free-standing electric fireplace included. The basement is finished with plenty of space for a rec room, theatre room or extra storage. Out front, enjoy the convenience of two parking stalls directly in front of your door. And visitor parking is available just a few steps away for your guests. Your spacious fenced yard features a deck and garden shed. And you're close to plenty of amenities including schools, shopping, transportation and more. Nothing to do here but move in and enjoy. Don't miss this opportunity.
http://realedmonton.com/search/featured/
http://realedmonton.com/search/featured/
Tuesday, January 3, 2012
A Good Edmonton Real Estate Market for 2012?
According to BMO’s deputy chief economist, Edmonton may be one of the hottest real estate markets in Canada in 2012.
I guess time will tell.
Read the complete Edmonton Journal story...
“Calgary (average price: $399,000) and Edmonton ($320,000) have seen stable prices in recent years even as Alberta easily recorded the strongest employment growth in the country in 2011," he says. If oil prices hold around $90 US a barrel or more in the coming year, "look for those two cities to lead the way for hottest housing markets in 2012," says Porter.
I guess time will tell.
Read the complete Edmonton Journal story...
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