Midwest Canada Minute - July 25, 2010 - 07/26/10 12:55 PM
Life at the Lake
It is almost everybody's concept of relaxation - a lot at the lake to retreat from the stresses of daily living.  It may have a cabin, tent, or a recreation vehicle on it; it doesn't matter, life just seems to go at a slower pace. Even the neighbours are usually friendlier (at least until they start partying without you!)
Right after the civic holiday in August, our phones will start ringing with owners wanting to sell.  Even though most buyers prefer to buy before the summer starts this can be a great time of year to invest … (0 comments)

Midwest Canada Minute - July 18, 2010 - 07/20/10 11:39 AM
Who should our client be?
Thank you to the reader of this column who recently dropped off an article for me to read taken from a University magazine emphasizing the need for first time buyers to appreciate how important home ownership can be to their future, particularly in building wealth for themselves and future generations. 
This is generally a true statement, but the last couple of years have proven that in order for this to happen consistently, one needs to also "stay the course" through the rough patches.  It is not automatic that real estate gains in value, in fact, historically … (0 comments)

Midwest Canada Minute - July 11, 2010 - 07/14/10 10:26 PM
When Governments Need Land
So what happens when a local, provincial, or federal government decides that they need land that you own?  Bottom line - in Canada a municipality or similar public body has the right to acquire private property for public use.  This is called the "power of eminent domain", the roots of which goes back to English common law established in about the year 1000 or so.  If the Queen wants a road through your front lawn to quickly move her troops between villages, then it shall be so.
Of course there is legislation that states you shall be … (0 comments)

Midwest Canada Minute - July 06, 2010 - 07/06/10 11:23 AM
Unique Properties
By far the most difficult, and yet in contrast, the most interesting properties to market are those that are unique.  Unique in location, presentation, age, or purpose; in other words, not easily replicated or compared.  Fun to look at, difficult to place a fair market value on, and almost always, providing an extraordinary challenge to the Realtor to represent.
Now most appraisers and Realtors won't admit this unless you get them "deep into their cups" but for all of the analytical principles they use when recommending a value can and will go out the window when dealing with a … (0 comments)