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Fort McMurray, AB Real Estate News

By Patrick (Pat) Dardis
(RE/MAX Fort McMurray)
A guest of a resort hotel in a tourist area walked into the dining room where breakfast was being served.  Shortly after the guest sat down a waiter arrived to take his order.   "I would like two eggs, over easy, one with the yolk overcooked and rubbery and the other undercooked with the yolk broken and running out on the plate.  I would also like some sausage that has been grilled and set out on the plate to get cold, burnt toast that has also grown cold so that it crunches and crumbles into nothing at the first bite, butter that has been in the freezer so that it's impossible to spread, and a pot of coffee that is lukewarm and very weak."   The waiter busily scratched down the guest's order and said, "This is a very complicated order, sir.  It might be difficult to deliver it exactly ...
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By Patrick (Pat) Dardis
(RE/MAX Fort McMurray)
It should come as no surprise that between Thanksgiving and New Year's Day, our excessiveness hits an annual high, especially where waste is concerned:  We throw out 25 percent more garbage than we do the rest of the year.  That's a million extra tons of garbage per week.   So this year consider some of the ideas below provided by The ULS (Use Less Stuff) Report.  Your planet will thank you!   •·        If every family saved and reused just two feet of ribbon per year, enough ribbon would be saved to tie a bow around the entire planet.  When unwrapping gifts, poke two holes in a paper plate and feed the ribbons through so they're easy to find and reuse later. •·        The more than two billion holiday cards sold in the United States each year could fill a football field 10 stories high...
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By Patrick (Pat) Dardis
(RE/MAX Fort McMurray)
  I invite you to experience an evolutionary online marketing technology for the Fort McMurray Real Estate Market, streaming HD web video tours. I offer high definition web video tours of your home when you list with me that are stream directly from my personal website www.McMurraysBestHomes.com  and including MLS®.   My web video tours are not only comprised of interior and exterior shots, but also include highlighting features to match feature sheets, a visual from Google Maps of the area, a community tours with landmarks and neighborhood shots.   Why Video? A real estate web video tour is the next best thing to an open house walk through. Nothing replaces this up close, in person visit, but a web video tour is the ultimate way to promote interest and prompt buyers to make a call to m...
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By Patrick (Pat) Dardis
(RE/MAX Fort McMurray)
Did you know that when working with a good mortgage broker, you will always be offered the best rate upfront? Manulife Financial Advisor, Greg MacPherson, says that banks "only reveal the lowest mortgage rate they will give you when you absolutely force them to by coming up with a better competing rate from across the street." This is the similar to negotiating the price of a souvenir in a third world country marketplace. They always want as much as they can get. You shouldn't have to go through that! The difference is that banks usually offer retail mortgage rates while brokers always offer wholesale mortgage rates.  Our lenders are offering some extremely low rates right now that are generating a lot of attention. If you are thinking of buying your first home, refinancing your existin...
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By Patrick (Pat) Dardis
(RE/MAX Fort McMurray)
There hasn't been a better time to buy in Fort McMurray in the past three years then right now. Since October 2008 we have watched the listing price of single family home drop. The number of sales each month has been in the 30's a compared to the 100's in the past few years. The average price is down about $40,000 over the same period last year, but still up from three years ago. March 2009 will be seen as the turning point in our market, the sales volume has incease to near normal levels for Fort McMurray at just under 100 unit for March. What has caused this change? Near record low interest rates, oil prices are around the $50 a barrel range. The recent news that Suncor is purchasing PetroCan and the fact that all the major oilsand players are still hiring staff position. Are all sign...
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By Patrick (Pat) Dardis
(RE/MAX Fort McMurray)
Low-Cost Tips to Get your Home Ready for the HolidaysIt's that time of the year again and even though getting your home ready for the holidays can seem like a chore, it doesn't have to be. Fortunately, it doesn't even have to take up much time or money, either. You can do it in a few easy steps. Just get in the mood to be creative. Add colour and textureSimply displaying some richly coloured pillows or throws in any room can give the room a different feel. Choose warm and spicy colors, or maybe something with mirror work to catch the light and add to the glowing effect and sparkle of the holiday season. Neutrals, metallic and peacock shades are the hot holiday hues of 2008, so don't feel like you have to stick with the traditional red, green and white schemes. Artwork, throws and mirror...
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By Patrick (Pat) Dardis
(RE/MAX Fort McMurray)
McMurraysBestHomes.com Fort McMurray Alberta MLS Market Stats Updated November 4, 2008 October 2008 $ Value of Units Sold for Current Month # of Units Sold for Current Month # of New Listings for Current Month # of Active Listings End of Current Month $ Average Unit Price for Current Month RESIDENTIAL 1. Single Family $43,553,501 63 165 452 $691,325 2. Multi-Family $9,655,600 21 68 136 $459,790 3. Other/Duplex $4,598,800 9 24 40 $510,977 4. Mobiles $45,000 1 3 6 $45,000 5. Mobiles/Own Lot $6,075,500 14 27 92 $433,964 6. Other (Out of Town) $530,000 1 18 103 $530,000 TOTAL $64,458,401 109 305 829 $591,361 NON-RESIDENTIAL 1. Vacant Land/Lots $400,000 3 28 146 $133,333 2. Commercial $875,000 1 3 20 $875,000 3. Other $0 0 8 16 $0 TOTAL $1,275,000 4 39 182 $318,750 GRAND TOTAL $65,733,401 1...
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By Patrick (Pat) Dardis
(RE/MAX Fort McMurray)
We have gone from listing and selling within a week or two, to actually having some inventory for the Buyers to look at. For the last six months the number of listing has grown. The largest increase in the number of homes has come in the month of October with over 181 new listings. The Average price for a family home in Fort McMurray, Alberta has remain stable at $650,000 through most of the summer and fall. Timberlea Fort McMurray remain the hottest Real Estate area in Fort McMurray with over 825 listings to date this year and sales of 512 units. Timberlea is the fastest growing new area in the city. Timberlea has a mix of starter and move up homes ranging in price from $520,000 to $1.5 Million. Timberlea also has a great mix of multi-family units ranging in price from $400,000 to $650...
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By Patrick (Pat) Dardis
(RE/MAX Fort McMurray)
 A friend Gary Tagg sent me this report. With the election now in the past, the big news headlines are all about the economy. Terms such as "credit crunch" have been coined to try and describe what the international financial sector has been experiencing.We thought we would spend a few minutes and go over how this credit crunch has affected the mortgage markets. 1. Existing Adjustable Rate Mortgages If you are fortunate enough to be in a floating interest rate mortgage, you have probably noticed your payments decrease over the past several months. You will also notice in November that your payments will have gone down again.Prime, which your mortgage rate is floating against has gone from 6.25% all the way down to 4.0%. For many of our clients, that means an interest rate less than 3.5%...
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By Patrick (Pat) Dardis
(RE/MAX Fort McMurray)
  Home Maintenance Checklist for Fall and Winter in Fort McMurray, Alberta. As the winter season approaches and the air become crisp, it's time to start thinking about preparing your house for the season. The winter season means spending more time indoors, hence roofs need to shed rain and snow, windows and doors need to reject the cold, and the heating system needs to keep rooms comfortable. If any of these components don't hold up, you might be faced with scrambling around in the wet, cold and dark to fix them. By handling these important yet reasonably easy tasks now, you can avoid considerable grief later. Outdoor Preparation Check the roof for cracked or missing shingles, bald spots on shingles, missing or damaged flashing, and other conditions that might allow leaks. Replace any ...
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By Patrick (Pat) Dardis
(RE/MAX Fort McMurray)
  What is mould? Mould is microscopic fungi, a group of organisms which also includes mushrooms and yeasts. Fungi is highly adapted to grow and reproduce rapidly, producing spores and mycelia in the process. You encounter mould every day. Foods spoil because of mould. Leaves decay and pieces of wood lying on the ground rot due to mould. That fuzzy black growth on wet window sills is mould. Paper or fabrics stored in a damp place get a musty smell that is due to the action of mould. Mould, however, can be useful to people. The drug penicillin is obtained from a specific type of mould. Some foods and beverages are made by the actions of mould. Good mould is selected and grown in a controlled fashion. Mould is undesirable when it grows where we don't want it to, such as in our homes. Over...
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By Patrick (Pat) Dardis
(RE/MAX Fort McMurray)
    The news is filled with headlines about the state of today's housing market south of the border-"Foreclosure sales are up." "Real estate prices are down." "Borrowers are defaulting on sub-prime loans." It's easy to be confused and uncertain about whether now is a good time to buy a home. Although the Canadian market is not as robust as it was a year ago, housing prices have been stable for several months, mortgage rates have dropped this year and there is overwhelming choice of homes currently available in all price ranges. All these factors add up to an ideal market place for first time or move up home buyers. The turbulence we're seeing in the housing market is not all problematic. For some, it has opened up new opportunities. If you have good credit and your finances are solid, ...
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By Patrick (Pat) Dardis
(RE/MAX Fort McMurray)
Are you a home buyer looking to purchase a home sometime soon? If so, there are several things you should avoid when you enter the home buying process. And if you aren't careful to avoid them it is possible that your closing will be delayed or even canceled. Your adherence to the following rules will put the keys to the house in your hands quickly. First, don't damage your debt to income ratio by making a major purchase before closing. If you decide you can't live without that brand new Benz, you might have to wait on owning a home. The bank could easily determine that your sky high car payment would hinder your ability to pay your mortgage. Wait until after you get the house to do some spending. No one expects a brand new house full of furniture and a sports car in the driveway unless ...
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By Patrick (Pat) Dardis
(RE/MAX Fort McMurray)
There are many things a home owner can do to increase the value of their home. This can be done interior or exterior, from do-it-yourself for the smaller projects to hiring a contractor for the larger jobs. You can give your home a face lift a little at a time. Most home owners don't have the finances for a complete over haul done all at once. To most people, their home is their largest investment and they would like to keep it in prime condition. Although the price of your home is mostly determined by the current market conditions, there are several things you can do to maximize your homes value. 1. Decorative moldings can be used throughout the home for interior to exterior, to trim doors, floors, walls, windows, fire places and ceilings. These moldings can be found at practically al...
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By Patrick (Pat) Dardis
(RE/MAX Fort McMurray)
Each year thousands of prospective homeowners are shocked to discover their credit history will hinder their ability to own their dream home. The very first thing that your loan officer checks when you apply for a mortgage or any kind of credit is your credit score. You are rated in terms of the score which in most cases influences the amount you can borrow. Understanding your credit score in a better way enhances your chances to develop a higher score and thus benefit from loans at better terms and conditions. A credit score consists of many factors: your payment history, your credit card balances, bank accounts, including savings and checking accounts, and any other form of credit including all outstanding personal loans, mortgage loans, store credit cards, etc. Credit scores are calc...
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By Patrick (Pat) Dardis
(RE/MAX Fort McMurray)
 The sun sets on an old buckethauler at Syncrude's oil sands project on August 28, 2006. The mining is now done primarily with trucks and shovels. The entire site runs virtually non-stop 24/7 including huge Caterpillar mine trucks hauling their payloads at Shell's Muskeg River Mine project in the Alberta Oil Sands north of Fort McMurray. Let's Get Started! Helping people is what I do! Taking the stress of buying or selling a home out of your next transaction is my goal and commitment to my customers. Visit www.McMurraysBestHomes.com  
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By Patrick (Pat) Dardis
(RE/MAX Fort McMurray)
Most people arriving in Fort McMurray are looking for jobs; looking for the opportunity to pocket some of the financial benefits of working in the oilsands capital of the world. But a recent look-see by a couple of big names had more to do with what was going on there than it had about money. The first- and third-ranked richest men in the world recently came to this northern Alberta city, mostly out of curiosity. A source for Warren Buffett, chairman of Berkshire Hathaway Inc., and Bill Gates, co-founder of Microsoft Corp., says the duo came to McMurray to "satisfy their own curiosity," but also with "investment in mind." Both men have recently said they favour investing in Canadian oilsands because it offers a secure supply of oil to the United States. The quick-hit visit may have give...
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By Patrick (Pat) Dardis
(RE/MAX Fort McMurray)
Purchasing a home can be a stressful experience for anyone, but especially for first-time buyers who may not be aware that there are a host of costs associated with buying a home other than the actual purchase price and real estate commissions. It helps to know what those costs are in advance rather than get an unexpected surprise at closing and add to an already stressful experience. Many of the costs are a factor of the purchase price, the value of the home and/or the amount of financing you are obtaining. Closing costs. These generally refer to legal fees, property tax and utility adjustment costs and, in some provinces, land transfer taxes. Legal costs go to cover lawyer (notary in Quebec) fees and legal transactions such as reviewing the terms of the offer, preparing and signing a ...
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By Patrick (Pat) Dardis
(RE/MAX Fort McMurray)
Not all real estate practitioners are REALTORS®. The term REALTOR® is a registered trademark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION of REALTORS® and subscribes to its strict Code of Ethics. Here's why it pays to work with a REALTOR®.    1. Navigate a complicated process. Buying or selling a home usually requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multipage settlement statements. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes.   2. Information and opinions. REALTORS® can provide local community information on utilities, zoning, schools, and more. They'll also be able to provide objective information about each property. A professional will...
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By Patrick (Pat) Dardis
(RE/MAX Fort McMurray)
  ·    One of the easiest ways to cut your heating and cooling bill is to make sure that your attic has 7 inches (R-22) or more (up to R-49) of fiber glass or rock wool insulation.   ·    A simple step we often ignore-replace or clean your AC vents once a month.   ·    Don't leave your bathroom ventilator running longer than necessary, as it can drain your entire house of cooled or heated air in about an hour!   ·    During the summer keep your drapes closed in the heat of the day.  In the winter keep the south facing window drapes open.   ·    Make sure all windows are caulked and weather-stripped to save 10% off your H/AC bill.   ·    White window shades or blinds will deflect the heat away from your house.   ·    Lower hot water costs by installing low-flow shower heads and faucets....
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