Rayna McKay's blog. Calgary Condominium Information

Calgary's Premier Historical Building Anderson Estates

Rayna Mckay (RE/MAX Real Estate Advocates) — Thu, 27 Jan 2011 18:04:34 -0800

Do you love historical architecture yet enjoy modern convenience? If so you might be interested in living in Anderson Estates.

Anderson Estates was built in 1912 for a cost of $150,000. It's original purpose was to be a bachelors hotel. The building was very prestigious and able to charge $60 a month for a one bedroom suite. The building was designed with its U shape to let natural light into the original 63 suites.

The building was converted into condominiums in the 1970's. The building has been historically restored with a marble stairway, original brass elevator, and stunning woodwork throughout. Suites feature beautiful wood work, bay windows, 10' ceilings, 6'windows and the original claw foot tubs. They feature all the beautiful baroque architecture yet are renovated with all the modern convenience with modern kitchens and in suite laundry.

The building was used in 1995 for Jann Ardens Insensitive music video.

Anderson Estates is located at 804 18 AV SW in Lower Mount Royal. A quick walk away from 17^th Ave SW.

Here are some current listings in this wonderful historical building.

This unit is listed for $229,000.Featuring beautiful bay windows

This next unit is listed for $249,900 and is located on the 4th floor. You can see the original claw foot tub in the bathroom.

This next unit Features a built in china cabinet with all the original woodwork. It is listed at $299,000 and located on the third floor.

Search www.Calgarycondominiums.com for all of Calgary Condominium listings.

Rayna McKay

Certified Condominium Specialist

Calgary Condominium Sales 2010

Rayna Mckay (RE/MAX Real Estate Advocates) — Mon, 24 Jan 2011 18:05:56 -0800

The average price for a condo in Calgary in 2010 was between $280,000 to $304,000. 52% of condo listings sold. There were 9843 condo listings and of these 5180 sold. The average days on market of a condo that sold was between 39 to 60 days. To search for Calgary Condominiums please visit my dedicated condominium websites. www.calgarycondominiums.com and www.calgary-condominiums.ca

Rayna McKay

Certified Condominium Specialist

Calgary Condominiums. #1 On Google.

Rayna Mckay (RE/MAX Real Estate Advocates) — Wed, 03 Nov 2010 02:14:55 -0700

WWW.Calgary-Condominiums.ca has the number one Google ranking for the search term "Calgary Condos" and "Calgary Condominiums"

My Website is your full access to information about Calgary Condominiums with no log in required to see MLS Listings.

Rayna McKay

Certified Condominium Specialist

The Loonie is on Par!

Rayna Mckay (RE/MAX Real Estate Advocates) — Thu, 14 Oct 2010 14:28:51 -0700

Good news for everyone that is travelling to the states!

The Canadian dollar reached parity with the U.S. dollar this morning.

The loonie was at $1.0001 U.S. at about 8 a.m. ET

This is the first time since April the Canadian dollar has traded equal to or greater than U.S. currency.

"The main driver again today is underlying weakness in the U.S. dollar," said Douglas Porter, BMO Capital Markets deputy chief economist. "However, firmer (prices for) commodities are also playing a role ... "

Rayna McKay

Certified Condominium Specialist

2010 Alberta Bound Tattoo & Arts Festival. October 15-17

Rayna Mckay (RE/MAX Real Estate Advocates) — Thu, 14 Oct 2010 14:21:07 -0700

It's that time of year again. The 2010 Alberta Bound Tattoo and Arts Festival is coming to Calgary this weekend.

Featuring 80+ artists this is bound to be an interesting event.

There will also be piercing and retail vendors available.

Located at The BMO Center on Stampede grounds.

Friday 15th -2pm-10pm

Saturday 16th -Noon-10pm

Sunday 17th- Noon-7pm

You can purchase your tickets at the door or here online

For more up to date information visit the official website here

Rayna McKay

Certified Condominium Specialist

2010 Calgary International Improv Festival. September 21 - October 3, 2010.

Rayna Mckay (RE/MAX Real Estate Advocates) — Thu, 23 Sep 2010 17:38:57 -0700

It's that time again. The Calgary International Improv Festival is here. This is the third year that Calgary has hosted the festival. This fall's 11-day multi-venue extravaganza features shows at the Comedy Cave, Epcor Centre's Engineered Air Theatre and Epcor Centre's Jack Singer Concert Hall.

Some interesting shows:

Wed, Sept 29 @ 7pm: Women in Improv hosted by Australian Patti Stiles featuring women from around the world, brought together on stage for a hilarious show celebrating some of the best female talent in improvisation

Sat, Oct 2 @ Noon: Calgary Young People's Theatre presents Kidprov! A show performed by teens who have been trained in the art of improv. Come down and see a special all-ages show that will delight the whole family.

Sun, Oct 3 @ 7:30: Colin Mochrie from Who's Line Is It Anyway will headline the festival's feature performance. Colin will lead a cast of veteran all-star improvisers in a show bound to elicit laughter from even the most surly of guests

Ticket prices range from $10-$30.63.

For schedules and more up to date information visit the Calgary International Film Festival Website.

Rayna McKay

Certified Condominium Specialist

Princess Day at the Calgary Zoo. Saturday, September 25

Rayna Mckay (RE/MAX Real Estate Advocates) — Thu, 23 Sep 2010 14:59:54 -0700

On Saturday September 25 visit the Calgary Zoo for princess day.

All Royal subjects are invited to celebrate Princess Day at the Calgary Zoo and a cause that all Princesses and Princes should care about; Frogs! Little ones dressed as Princesses or Princes will receive free admission that day! As well, all little ones in costume will receive FREE ice cream all day! Don't worry, we haven't left out the rest of the royal subjects, ice cream is only 50 cents for royal parents all day! (available at Dairy Bar and Kitamba Java)

Enjoy jousting shows at 10:00 am and 11:30 pm.
Visit Belle's Beauty Salon brought to you by Beaners Fun cuts for Kids
Place a kiss on the frog prince
Make a wish on Cinderella's Bibbity bobbity bubbles.
Visit our docents who will teach you cool facts about frogs. Frogs around the world are in a crisis and it's up to the Princesses and Princes to save them.
Meet real royalty like the Stampede Queen and Princesses and the Indian Princess!

Rayna McKay

Certified Condominium Specialist

Calgary International Film Festival. September 24- October 3.

Rayna Mckay (RE/MAX Real Estate Advocates) — Wed, 22 Sep 2010 02:12:58 -0700

The Calgary International Film Festival is celebrating it's 11th year. From September 24- October 3 there will be over 220 films from around the world screened in Calgary.

The Calgary International Film Festival is one of the largest of it's kind. The festival has been named “One of the top 25 film festivals in the world worth its entry fee”by MovieMaker Magazine.

With over 220 films showcased in various theaters there is something for everyone. You can also buy an advance pack of tickets of five films for $55.

For schedules and more up to the minute information visit the Calgary International Film Fest website.

Rayna McKay

Certified Condominium Specialist

Calgary Electronic Music Festival. Saturday September 25

Rayna Mckay (RE/MAX Real Estate Advocates) — Tue, 21 Sep 2010 18:00:42 -0700

This weekend (Saturday September 25th) come down to Shaw Millennium Park for the Calgary Electronic Music Festival.
A FREE Music FESTIVAL the Whole Family can enjoy!

Calgary Electronic Music Festival, a celebration of electronic culture, is a one day event free for adults and children of all ages.

3 DJ STAGES: An incredible mix of local talent performing various spectrum's of electronic music

KIDZONE: Open to 12 & under. 3 Bouncy Bounces! Games! Supervised, but please do not leave child unattended.

Running from 10 am -10 pm this is sure to be a fun event. The weather is forecast to be a sunny 22 degrees!

Find more information on the Facebook Event Page.

Rayna McKay

Certified Condominium Specialist

Would You Hire A Proctologist To Give You A Nose Job?

Rayna Mckay (RE/MAX Real Estate Advocates) — Fri, 17 Sep 2010 15:38:33 -0700

Both are doctors and surgeons but they deal with specific parts of the body at different ends none the less. If you wouldn't get a surgery done without a specialist why would you buy a home from someone who doesn't specialize in that area? The anatomy of a condominium is different than a house. You are not only buying a property, you are buying a piece of a corporation with all of the assets and liabilities that corporation may incur. So you can see that it may be important to use someone that understands how the insides work. It is easier to sell a house than a condominium. You have the contract and the property inspection to worry about, but you do not have to worry about the financial health as a whole of all the units in a corporation comprised together.

Buying a condominium is more complex. There are a lot of things that you have to look at. You need to hire representation that knows the in's and out's of condos. We recently received an offer on a townhouse condominium in my office and the other agent requested a Real Property Report on the unit in his offer. You require a real property report when buying a residential property but not when buying a condo. Condominiums have condo plans as their surveys. If the other agent didn't know this from the start what else didn't he know about condos?

When buying a condo you have to look at all the pieces before making a decision. Just because the interior of the unit seems like the perfect one does not mean that it is the perfect one to you. When buying a condominium for one you are agreeing to live harmoniously and follow the building's bylaws. Some common bylaws that might affect you and your life style are : age restrictions, pet restrictions (if you can have a dog and what size is a common one), weather you can have a satellite dish, what you can put on your balcony, the type of blinds you can have. Do you see that it may be important to hire someone that specializes in condos and who knows how to read the documents?

An important part of a condos anatomy is the financial statements. You need to make sure that all the financials are in order so that you don't get surprises such as special assessments. I'm sure that you have heard about them on the news. A special assessment happens when the condo corporation does not have enough money in their reserve fund to do required repairs/maintenance . You would not invest in a company without making sure that the company is sound. Why would you invest in a home without checking out all the aspects first?

Buying a Condo does not have to be this complex if you have someone working for you that is a specialist. A certified condominium specialist has taken further education to ensure that you are protected. To pass the course you have to be able to read condo plans, bylaws, reserve fund studies, budgets, meeting minuets, lease agreements and management agreements. When choosing a Realtor check out their education and credentials and make sure that they will be able to guide you in the buying process. Choose to work with a Certified Condominium Specialist.

-Rayna McKay

Rayna McKay is a Certified Condominium Specialist recognized by the Calgary Real Estate Board.

To Search Calgary Condos visit www.calgary-condomiums.ca

Rayna McKay

Certified Condominium Specialist

If I Had A Million Dollars I Would Buy A Downtown Calgary Condo.

Rayna Mckay (RE/MAX Real Estate Advocates) — Thu, 16 Sep 2010 17:10:14 -0700

If I had a million dollars I would buy me a Condo.

I recently bought a lottery ticket, and when buying a lottery ticket we think about the possibilities. Naturally I began to think of the penthouse condo I would buy. There is a lot of inventory on the Calgary condominium market right now, so there is a lot to choose from.

This unit is listed for $899,500 in the River West Building located in downtown Calgary's west end. Offering an amazing view of the river and downtown Calgary. The unit is 1915 ft.² including two parking stalls. River west also has the amenities of a pool shared between the two towers and a gym. This is a fantastic buy.

http://calgary-condominiums.ca/idx/condo/C3436052/

This next unit is located in the prestigious building 5 West that was completed in 2006 and located in downtown Calgary's west end. It is listed for $1,100,000. This amazing 2122 sq. ft. condo with 2 bedrooms with ensuites and walk in closets and a den which can serve as a 3rd bedroom, 2.5 baths and great open living space is a great deal at $518/sq. ft. This condo is located on the 23rd floor and enjoys views of the Bow River, Rocky Mountains and Downtown Skyline. This unit also includes two parking Stalls. 5 West has great amenities including Daily Concierge, Visitor Parking and a Party Room.

http://calgary-condominiums.ca/idx/condo/C3404723/

This next unit is located in West Point Plaza. Located in downtown Calgarys West End. Listed at $1,149,900. It is an air conditioned penthouse apartment condo on the 21^st floor. Very spacious with just under 2700 sq ft including 4 bedrooms and 3 baths. Unobstructed mountain, river and downtown views that you can view on your two decks. Also featuring two titled parking stalls.

http://calgary-condominiums.ca/idx/condo/C3444317/

This unit is in the Union Square building located in Victoria Park. Listed for $1,490,000. This breathtaking example of luxury home boasts a specification list that is incomparable in today's market. It includes trusted names like; Sub Zero, Wolf, Viking, Hansgrohe, Ceasarstone, Colin Campbell Studio Line, Toto, Bosch Axxis and Andrea Raimondi. The finishings are perfect featuring; bali-stone & porcelain tile, Brazilion mahogany engineered hardwood, 12"x24" honed limestone, wool carpet, premium carpet and cabinetry. The 2216 sq.ft two storey penthouse has an impeccable design, it's open and airy with full height windows to take advantage of the corner exposures, two private decks that wrap almost the whole main floor, an "infinity" bar, dream walk in closet, two oversized bedrooms, a den, library complete with a connoisseurs wine room finished with a 147 bottle wine chiller & tasting area. Two prime heated secure parking stalls/storage

http://calgary-condominiums.ca/idx/condo/C3429640/

This next unit is located in Victoria Park and is listed for $2,500,000 . This is One of the finest penthouse examples in Calgary. Custom designed and built for the developer by the developer. Truly a magnificent example of modern luxury. The specification list is remarkable with features like a "Chef's" gourmet kitchen outfitted with Gangenau appliances, custom Cesar Stone counters, built in warming drawer, steam oven, oversized wall oven and convection oven with microwave, cappuccino machine and serving counter, gas cook top with grill, dual zone wine storage and custom swedish walnut/ash & bamboo cabinetry. The floor plan is 2 story, orientated to extract every ounce of view of downtown, the beltlne and the Rocky Mountains. The plan includes a "cathedral ceiling" great room with wall to wall windows with west & north exposures along with a sitting area with built ins. The home features two master bedrooms with spa like ensuites with every conceivable want, a Alex Caldwell "floating" staircase, media room a main floor balcony and a 1500 +-s.f roof top terrace with hot tub.

http://calgary-condominiums.ca/idx/condo/C3442458/

This unit is located in beautiful Eau Claire and is listed for $2,800,000 . Gorgeous two-level penthouse overlooking Prince's Island Park. Fantastic location with quick access to the Bow River pathway system, the Eau Claire YMCA. An elevator whisks you up and into your suite - a fully air conditioned home built for fine living and entertaining, 5800 sq feet of richly finished space offer fabulous view in all directions. Huge deck with gas BBQ and heater opens from kitchen, dining room and great room. The second level is comprised of an exercise area and entertainment room - each opens to its own deck, as well as another large deck with a hot tub! Main floor houses a gourmet kitchen with double fridges, gas cooktop, large island, master suite with dressing room and his/her baths, den with fireplace. This is a gated community; you have 3 titled parking stalls as well as lots of indoor and outdoor visitor parking. Wonderful easy lifestyle with restaurants, entertainment, the Bow River paths, shopping - all yours within minutes.

http://calgary-condominiums.ca/idx/condo/C3426346/

This last unit is the most expensive one in the bunch, but trust me it is impressive. Located in Eau Claire and listed for $4,497,000. This fabulous 4400 sq ft home has views to forever - city, mountain and a plethora of windows, decks and patios from which to enjoy them. Opulent, spectacular, elegant yet warm and restful; this is a home for enjoying - whether alone, entertaining a small gathering or a large crowd. The home flows from one room to another and spills out to the wonderful outdoor living space. The rooms are like the view - grand, and highlighted by an airy atrium with a huge fountain! Commercial grade Denca kitchen has everything you could dream of, butler's pantry with wet bar. Three spacious bedrooms - each with ensuite - the master is absolutely sumptuous. Floors are beautiful Travertine; wool carpeting in the bedrooms. Fabulous built-ins through out the home as well as a sound system. Three titled parking stalls, storage locker and all the amenities, such as wine room, that the Princeton Grand affords. Truly magnificent.

http://calgary-condominiums.ca/idx/condo/C3415425/

If any of these Condo's don't tickle your fancy or you are looking for something more modest you can do a search on my website www.calgary-condominiums.ca for free. No sign up or log in required.

Rayna McKay

Certified Condominium Specialist

Great Condo Connaught In Calgary Beltline For Just $169,900.

Rayna Mckay (RE/MAX Real Estate Advocates) — Thu, 16 Sep 2010 16:17:46 -0700

804 1323 15 AV SW $169,900

Why rent when you can own a fantastic inner city condo! This 8th floor 1 bedroom, 1 bath condo has in suite laundry,recent upgrades, a very functional floor plan, and a burning fireplace, in suite laundry, and this is only the beginning. Enjoy convenient living in an exceptional location with additional storage and one assigned parking stall,, steps from all amenities in a very desirable complex. Live just minutes from the downtown core and trendy 17th Avenue Shops, Restaurants and pubs. Call today for a private viewing.

Connaught - Calgary
ID# : C3432723
Visit my website www.Calgary-Condominiums.ca to view Calgary Condominiums. There is no log in and you can view homes presorted by district.

Listing courtesy of Dennis Plintz CENTURY 21 BAMBER REALTY LTD

Rayna McKay

Certified Condominium Specialist

Calgary Downtown Condos Just Listed September 16 2010

Rayna Mckay (RE/MAX Real Estate Advocates) — Thu, 16 Sep 2010 15:41:54 -0700

All new listings in the Calgary Downtown area are featured on the first page of my website www.Calgary-Condominiums.ca

Listings are updated hourly. Make Calgary-Condominiums.ca your source for condo information. Many pre-searches by area are already done for you. No log in is required for you to get up-to-date and complete information.

I am a certified condo specialist so if you do find your dream condo I am right here to answer any questions you may have regarding condo documents, reserve funds or the many other issues condo buyers face. You can call me at 403-294-1500 with any questions you may have.

Rayna McKay

Certified Condominium Specialist

View New Listings For Downtown Calgary Condos-Updated Hourly

Rayna Mckay (RE/MAX Real Estate Advocates) — Thu, 16 Sep 2010 15:37:04 -0700

All new listings in the Calgary Downtown area are featured on the first page of my website www.Calgary-Condominiums.ca

Rayna McKay

Certified Condominium Specialist

Red Flags for Buying a Condo

Rayna Mckay (RE/MAX Real Estate Advocates) — Mon, 05 Apr 2010 19:53:39 -0700

Red Flags for Buying a Condo

Condominium ownership is a very new alternative to traditional property ownership. The ability for a group of people to each own their own units, but share common expenses, and still live in harmony has created some huge benefits for buyers. However, if you didn’t know at least some of the benefits, then you likely wouldn’t be considering purchasing a condo in the first place. We will leave the benefits aside for now…

The items that most of our clients want to know about are the red flags. What items should I look a little more into before I purchase a condo in a particular building, complex or development? What things may be the signs of existing, past or future problems?

PLEASE NOTE: These items are only red flags. They are not necessarily problems in themselves, but should trigger a little more research.

Low Condo Fees – The fees may not include very many of the items they normally would. You may be expected to pay an assessment fee more often.

High Condo Fees – A problem may exist that the condo board is trying to pay for.

Low Reserve Fund –There may not be enough money to cover necessary repairs.

Special Assessments – This is a lump some of money required to either top up the low reserve fund or to fix an issue the condo has.

Unresolved Issues in the Meeting Minutes – If the most recent meeting minutes say they are waiting for a quote on something, then that something is still broken.

Registered Does Not Match the Listed Size – You may not be getting all the square footage you thought you paid for.

Not All Documents Are Available – This could be a result of poor management, or non-compliance with the Condo Act.

Post Tension Cables – If not cared for under the lawful requirements, this style of construction can cost a fortune to repair (typically causes higher fees).

Age Restricted Buildings – This limits who you can re-sell your unit to (or rent). Plus, some lenders will not provide certain mortgages for these buildings.

Any Stains or Signs of Water – This one is pretty obvious.

Lots of Units for Sale – Why does everyone want to sell?

Operating Deficit – If there is more money going out than is coming in, eventually you will run out of money.

Low Owner Occupancy – Lots of units are likely rented, and tenants don’t take care of their property as well as owners (and sometimes don’t follow the by-laws).

Monopolized Ownership – The one person who owns most of the units has most of the voting power.

Unresponsive Board – If they neglect to return calls, what else do they neglect?

Do your homework and get all the information available on a complex. This is always your best security when buying a condo

This article has been written by Lindsey Smith of the Entyro Service Group in Calgary AB

To search for Calgary Condos visit www.Calgary-Condominiums.ca This site is updated hourly and no log in is required.

Rayna McKay

Certified Condominium Specialist

New Mortgage Rules Won’t Affect Most Home-Owners or Buyers

Rayna Mckay (RE/MAX Real Estate Advocates) — Mon, 05 Apr 2010 19:31:04 -0700

Finance Minister Jim Flaherty has announced three new mortgage rules saying the government is taking “proactive, prudent and cautious steps” to prevent a housing bubble. Well, there’s probably no reason for alarm: these new mortgage rules won’t affect most homeowners or buyers.

The gist of the new rules is that it won’t be as easy to teeter at the top of your lending limit; the government thinks homeowners should have a bit of equity hedge and a realistic expectation of what they can pay each month. Most Canadian home-buyers are already managing their mortgages according to these standards anyway, although some new and very leveraged buyers could be affected. Real estate investors and speculators may notice these rules the most, which take affect April 19, 2010. Here’s the quick rundown on what’s new:

Think five-year, fixed-rate. Whatever kind of mortgage you eventually decide on, the new rules say that you must qualify for a standard five-year, fixed-rate mortgage. What you choose, of course, is up to you and your mortgage planner; you may opt for a shorter term and /or a lower rate. While the government has said this test will help home-buyers prepare for higher rates, most lenders were already qualifying homeowners on the three-year fixed rate. As a result this shouldn’t affect too many home-buyers. Buyers who don’t qualify for the five-year, fixed rate will need to downsize their expectations on how much home they can afford. Based on a 5-per-cent down payment, 35 year amortization, and a home price of $300,000, a buyer would need about $7.400 more in annual income to qualify under the posted five year fixed rate versus the three year rate.

Protect at least 10% of your equity. Refinancing your home to pay down high-interest debt is still a smart strategy to save interest in the long term. There are common sense limits to using your home as a piggy bank, of course, and now the new rules dictate that you must protect at least 10% of your equity, up from 5%. Where this could cause a problem is with those who are overextended on high interest debt. They may no longer be able to payout all of these debts and get on a sounder financial footing with a lower payment and less interest costs. Depending on their reasons for having a high debt load these clients may end up in a bad credit situation or bankrupt. While the mortgage planners at Mortgage Architects have been offering credit and debt counseling to their clients for years, more people may now be in need of this service.

You need 20% down on an investment property. This is a change that primarily affects investors. If you’re not personally living in a property that you own – such as a second home or a rental property – you will now need a minimum down-payment of 20%, up from 5%. Investors used the 5% rule to leverage their mortgage for tax purposes: so they could write off more interest against their rental income. This could slow speculative real estate purchases, for instance buying new properties with the intention of flipping them later, which is common in the condominium market.

While we are looking at rising rates in the future, the housing market remains healthy. These upcoming changes are unlikely to affect the majority of Canadians, although there could be a flurry of activity before April 19 – as home-buyers take advantage of the last few weeks of the existing rules by moving up purchases and refinances. If you think the new rules could affect you, call an experienced mortgage planner right away.

This article was provided by Jen Mikla, AMP. You can contact her for more information atwww.mortgagewithjen.com

This blog article is powered by CIR Realty, adding value to you and your business by bringing you innovation and experience. To find out more about us, visit www.cirrealty.ca.

Rayna McKay

Certified Condominium Specialist

Your RRSP Can Help Make You a First-Time Homebuyer

Rayna Mckay (RE/MAX Real Estate Advocates) — Mon, 05 Apr 2010 19:28:32 -0700

Here’s a nice thought for hopeful first-time home-buyers – if you’ve been tucking away money into your RRSP, you may have that elusive down-payment. Your RRSP can help you make your house dreams come true. Under the Home Buyer’s Plan, you can tap your RRSP and borrow from yourself tax-free to help with your home purchase. You then pay yourself back later.

Of course, your RRSP savings are always accessible (it’s your money after all), but when funds are withdrawn, they are taxable in the year of withdrawal unless you comply with certain rules – and being a first time home-buyer is one of them. You can withdraw up to $25,000, and if your spouse qualifies as a first time home-buyer, he or she will also be able to withdraw $25,000. Between the two of you — you could put together a hefty down payment of $50,000.00.

Here’s how it works: you enter into an agreement to buy or build a home before making a withdrawal. It must be for your principal residence (no rental properties), and to qualify as a “first-time home-buyer”, you cannot have owned a home for four full calendar years. If your spouse did own a home within that period, you can still withdraw as long as the home was not your principal residence while you were married or living common law. In addition, you must withdraw no later than 30 days after the closing date.

After you make a withdrawal, you must close on your home by October 1 of the year the follows the withdrawal year, a requirement that can be extended under certain conditions. Almost any kind of home will qualify – single family, semi-detached, condo, under construction – as long as it’s in Canada. Your mortgage planner can give you more details.

The Home Buyer’s Plan is one of the most attractive federal programs available to Canadian home buyers. After all, saving up for a down payment takes time and can be a real challenge when you have so many other expenses. But the Home Buyer’s Plan lets you mesh your RRSP strategy with your home buying plans. And a solid down-payment can help you get a better mortgage – since down-payment is one factor lenders look for when assessing risk.

Keep in mind, of course, that – for your own good and to meet the program’s requirements – you’re expected to pay yourself back. Repayment begins the second year following the year of withdrawal. So if you withdraw in 2010, you have to make your first payment back to your RRSP starting in 2012, or in effect by the RRSP deadline of that year i.e. March 1, 2013. You have up to fifteen years to repay, and each annual repayment must be at least one-fifteenth of the withdrawn amount.

If you want more detailed information on the program, get a copy of Canada Revenue Agency’s booklet RC4135 – Home Buyer’s Plan (HBP), which is available on their web site atwww.cra-arc.gc.ca. Also look for Form T1036, the required form for requesting a withdrawal.

Starting to think about buying your first home? Find yourself a mortgage planner and start asking some questions. An independent planner deals with over 50 different lending institutions, and can help you compare mortgages from the banks as well as non-traditional lenders. An independent planner works for you and not the lender, their advice is free (oac), and there is no obligation. It’s a great place for a new home buyer to start!

This article was provided by Jen Mikla, AMP, Mortgage Architects. You can contact her for more information at www.mortgagewithjen.com

This blog article is powered by CIR Realty, adding value to you and your business by bringing you innovation and experience. To find out more about us, visit www.cirrealty.ca.

To Visit A Great Site For Calgary Condominiums click www.Calgary-Condominiums.ca

Rayna McKay

Certified Condominium Specialist

July 2009 Calgary Condominiums Market Statistics

Rayna Mckay (RE/MAX Real Estate Advocates) — Tue, 11 Aug 2009 15:54:26 -0700

Quick July 2009 Calgary AB Market Statistics:

Calgary's condo market stayed strong for the month of July dispite people turning there thoughts from buying real estate. People focused on things like Stampede, Bar BQs, and Camping; this is how it affected the July 2009 Calgary Condominiums Statistics. Inventory is down again and there were 702 condo sales in the month of July with the median sale price in Calgary at $263,000 which is within $3,000 of last month. Sale prices in July ranged from $110,000 to $1,050,000.

Rayna McKay

Certified Condominium Specialist

June 2009 Calgary Condominium Statistics

Rayna Mckay (RE/MAX Real Estate Advocates) — Wed, 08 Jul 2009 14:03:32 -0700

Quick June 2009 Calgary AB Market Statistics:
Calgary Condo inventory is down for the fifth consecutive month, while sales rise bringing our absorption rate to the bottom of a balanced market. Calgary's condo sales have been on the rise for 7 months, from 208 condo sales in December 2008 to 738 condo sales in June 2009. Statistically it look like the buyer's market is coming to an end and if these trends continue we may see seller gaining a little more control before the fall slowdown. Calgary's median condo sale price is $265,500 the highest it's been since October 2008. The June 2009 sale price range for condos in Calgary was between $117,000 and $1,100,000 being the highest price condo sold in June 2009. To search for Calgary Condominiums vist www.Calgary-Condominiums.ca

Rayna McKay

Certified Condominium Specialist

First-timers key to reviving market

Rayna Mckay (RE/MAX Real Estate Advocates) — Tue, 09 Jun 2009 11:08:00 -0700

The expected return of first-time homebuyers to the marketplace is seen as key to the rejuvenation of Canada's housing sectors, says a real estate industry executive.

A growing number of newbies to home ownership-- considered the largest single buying segment--have been sitting on the sidelines since it became obvious Canada wasn't going to avoid the global recession, says Phil Soper, president and CEO of Brookfield Real Estate Services.

At the height of the housing boom, which started to deflate partway through 2007, first-time buyers accounted for as much as 70 per cent of all transactions, he says.

One of the key reasons --and a positive to the downturn-- has to do with the decline in house prices that followed in the wake of the recession.

"Significantly lower costs of ownership should bring the first-timer back to the kitchen table in increasing numbers this year, which would get the overall industry moving again," Soper told a recent Scotiabank forum on the economy and real estate.

Among the factors he pinpointed that would see the re-entry of first-timers are: - Targeted government incentives that include $750 for closing costs, and an increase in the RRSP withdrawal for a down payment. - Lower-priced homes. The national average selling price has fallen to $288,641, down from $312,852 a year ago, says the Canadian Real Estate Association. - Historically low mortgage rates. - Reduced risk through the return of the conditional offer.

In an interview, Soper said the lack of first-time buyers can stall the real estate market.

"It's like sand in the gears," he said.

Canada has managed to avoid the brutal real estate pounding the United States has had to endure.

There have so far been no wholesale foreclosures here and the credit markets remain fairly healthy. But resale activity slowed and the pace of new home construction shrivelled as consumer demand backed off.

The revival will be slow.

Housing construction starts across the country dropped to slightly more than 211,000 last year, which is about eight per cent below the average of 230,000 starts tallied annually from 2004 to 2007.

At the same time, the number of resale homes changing hands decreased by 17 per cent and the average price slipped one per cent.

Scotiabank has predicted a further decline for new and used housing this year.

Housing construction starts are going to fall to about 155,000, while resale figures will drop another 15 to 20 per cent-- along with another 10 per cent slide in prices.

By Marty Hope, Calgary HeraldJune 6, 2009

To start your seach for the perfect Calgary Condo visit www.Calgary-Condominiums.Ca

Rayna McKay

Certified Condominium Specialist

Buyer who hesitates ends up losing out. Low interest rates joining federal incentives

Rayna Mckay (RE/MAX Real Estate Advocates) — Tue, 09 Jun 2009 11:03:14 -0700

To jump or not to jump.

I guess the question that plagues new home buyers is "should we jump in now, or should we wait to see if the market is still dropping?"

Well, if you know someone in this situation, they may have already missed the bottom.

Let's take a few key indicators of what's going on in the market : - Because of the low interest rates there has been a flurry of new home buyers who didn't have to sell their home because they were renting.

People didn't want to list their homes because of the price drop so inventory of houses for sale went down and seems to still be dropping. - What this means is there are fewer homes for sale in the market. - When this happens, prices start to go up. - Now the economy seems to be on a slow but steady road to recovery. - Oil prices are on the way back up (great for the industry in Alberta ). - More jobs in this sector are being created once again which in turn creates jobs in other sectors. - Our banking system is strong (compared to the rest of the world.) - People are feeling better about things. - Take an improving economy and what happens to interest rates? - With people feeling better about the economy more people jump from the safe bond market back to other more risky investments.

When this happens, the bond yield increases. When the bond yield increase so do the fixed rate mortgages.

OK, I have indicated that there is some motivation to jump in to the market because of the low interest rates and the low prices that seem to be increasing.

So, what other motivating factors are there?

The banks and the government have stepped up to the plate to encourage new home buyers to take action: - The banks have decided to create quite a few programs to motivate the home purchaser. - No down payment. The banks call it a cashback mortgage.

There are only three that I know of that will allow you to apply the five per cent or close to that towards the down payment.

Of course, the banks want some protection so they want to make sure you have a good credit score, anywhere from a beacon score of 620 and up.

The lower your credit score, the higher the interest rate. Also, you must have a good job.

It probably won't work for those of you who are self-employed. - The other bank-driven incentives are the quick-close specials. These super low rates are offered to homes that you take possession of within 45 days (some are 30 days).

At the moment, the rate I like is the 3.05 per cent, three-year fixed, quick close rate offered by Street Capital. - The government has also stepped up to the plate. Besides dropping the prime lending rate to a historic 2.25 per cent, the government offered some major incentives to the first-time home buyer.

These include: - A change to the first-time home buyers RRSP plan. This program increased the amount a person can withdraw from his or her RRSP from $20,000 to $25,000.

For a couple purchasing a home this equates to $50,000 without penalty provide you pay this back to your RRSP within 15 years. - Anew first-time home buyers' credit towards closing costs. This program provides up to a $750 tax credit.

Refer towww.fin.gc.cafor more details.

This is what is happening at the moment. Interest rates are on the move up once again and house prices are on the move.

So for those waiting for the bottom, it seems to have come and is sailing away.

Now, I'm not saying the deals are gone. That would be an incorrect statement.

There are great deals to be had at still historic prices--but there is no bottom to wait for. Get in now, as your property will only increase in value--and the interest rate you see now will be gone soon.

By Vic Cotton, Calgary HeraldJune 6, 2009

Should you be thinking about becoming a homebuyer visit www.Calgary-Condominiums.ca

Rayna McKay

Certified Condominium Specialist

Oslo by Homburg-Centron Teamwork

Rayna Mckay (RE/MAX Real Estate Advocates) — Mon, 25 Feb 2008 12:04:45 -0800

Living green finally meets you were you live! If you choose to live in Homburg-Centron Teamworks' new project Oslo at Kia towers. Located on the corner of 11^th avenue and 12^th street S.W. urban chic meets environmentally responsible living in this condo building. While staying true to the look and feel that is expected from new condominiums this building is being built with sustainable living in mind. A concrete and steel construction using 75% recycled steel with a conscience effort to reduce waste on the construction site. Now all this is great, but what will you enjoy when you take possession? These units will come with energy star appliances, high efficiency lighting fixtures with compact florescent bulbs all set up to motion sensor switches. Floor to 9' ceiling low-E double sealed windows that will give you a great view of the beltline and downtown. Your unit will also come with dual flush toilets, programmable thermostat, and a recycling bin that you may bring to the central recycling area with-in the complex.

What sort of lifestyle could you have in your new green life? Oslo is made up of 2 towers with 474 suites and 15,000 sq. ft. of retail space with two restaurants - Redwater Rustic Grille and Il'Pescatore. The goal of the retail space is the put in businesses that will reflex the theme of the belt line community and the needs of the residence. For your comfort and convenience the building features secure underground parking, large storage space, and bicycle storage. Keep in shape and mental wellbeing by taking advantage of state-of-the-art fitness and rejuvenation center being placed in the first tower, or get some fresh air on the 7200 sq. ft. green roof patio. Those that buy suites on the second floor with enjoy these combined grass and prairie flower gardens at their doorstep. All leading back to green living with the efficient irrigation feed by rainwater harvesting, this new way of living will allow you to enjoy the world you live in by protecting the world you live in.

View more condos at www.calgary-condominiums.ca

Rayna McKay

Certified Condominium Specialist

November Market - Calgary, Alberta

Rayna Mckay (RE/MAX Real Estate Advocates) — Mon, 10 Dec 2007 07:25:47 -0800

November 2007 Statistics have been put out by CREB® and we are finally seeing a decrease in inventory for the Calgary area. For the first time since February we have seen a drop in inventory. While the sales have leveled off around the 2000 mark for the last 3 months we still have 5 months of inventory with 10455 listings on the market, if all numbers stay the same.

In a market like this it's important to price your home competitively. As in any market hire a REALTOR® with the skills to know the market to help you price and advertise your home effectively.

Rayna McKay

Certified Condominium Specialist

Spell Check Anyone?

Rayna Mckay (RE/MAX Real Estate Advocates) — Thu, 02 Aug 2007 16:10:33 -0700

Earlier this year our board did this wonderful thing to our MLS system, by adding spell check. Being the awful speller I am, this saved me the effort of coping my descriptions from word into my MLS input fields. Now even with spell check being only a fast click away I find that people are not using the tool! This is a matter of professionalism. These descriptions say as much about you as they do about the house.

An example of a very damaging spelling mistake was in the address of a property. I had a client looking at a unit on Stonemere Place. When I searched Stonemere Place the unit he wanted did not appear to be on the market anymore, only after I searched by price, building type and bedroom. I found the unit located on Stonmere Place. How many showings did the realtor loose because of the missing 'e' in Stonemere Place.

Rayna McKay

View more Condo listings at www.Calgary-condominiums.ca

Rayna McKay

Certified Condominium Specialist

Condominiums are not a type of Building...

Rayna Mckay (RE/MAX Real Estate Advocates) — Thu, 02 Aug 2007 15:57:29 -0700

I'm really not sure who is to blame the public, or the industry for this very common misconception, but I really want to clear it up. You can not tell if a building is a condominium by looking at it. Too often people think that condominiums are apartment style, when in reality a vacant lot in a subdivision can be a condominium form of ownership. So I would like to take this moment to list off the many styles of condominiums for anyone in the market.

The most well know and recognized form of a condominium would be the apartment style.

Another form of ownership is your townhouse or duplex style condominium. A large benefit to having condominium ownership of a townhouse or duplex is the condo board is responsible for exterior upkeep. Instead of mowing the lawn and shoveling the snow you can be enjoying your property.Generally all the units are painted the same color and maintained in a respectable state. For anyone that has seen an old duplex with one well maintained side, and the other side run down with towels in the windows with long unkept grass. When you look at these units you can see the need for articetual controls found within the bylaws.

The final and most mistaken from of condominium is bare land condos, these look like nothing more then a subdivided community. For this reason these cause numerous problems due to poor research by Realtors and buyers. When they find out there is a set of bylaws that come with that new piece of land that they thought they had to freedom to build to there hearts content.

So really the point of this little rant is that you can never judge a property by the cover, but you need only read the title to understand.

Rayna McKay

www.Calgary-Condominiums.ca

Rayna McKay

Certified Condominium Specialist