Just added this listing: "Spacious 2 storey split with 4 bedrooms up -ensuite in master- there is a 5th bedroom in basement. Big 3 car garage (50+ ft. of parking space) with radiant floor heating + attached paved parking pad. Feature recently installed NEW high efficiency furnace + keyless entry door along with natural gas hook-up for barbeque and garage. Landscaped yard with convenient underground sprinkler in front. Backyard has private deck with additional log playhouse. Lots of space in thi ... Full Article...

Calgary, Jan. 18, 2011 – The Calgary real estate market appears to be on its way to recovery.
In the coming months, Calgary‘s housing inventory levels are expected to stabilize, resulting inan eventual return to a more balanced and sustainable housing market, according to CREB‘s 2011 forecast report released today.  Click here to read more!

Concern over rising consumer debt levels prompted Ottawa to make three new changes to Canada's mortgage rules.

Finance Minister Jim Flaherty announced Monday [http://www.fin.gc.ca/n11/11-003-eng.asp] that new federal rules will reduce the maximum amortization period to 30 years from 35 years for government-backed insured mortgages with loan-to-value ratios of more than 80 per cent.

Secondly, Ottawa will lower the maximum amount Canadians can borrow in refinancing their mortgages to 85 per cent from 90 per cent of the value of their homes.

Thirdly, Ottawa will withdraw government insurance backing on lines of credit secured by homes.

By reducing maximum amortization from 35 to 30 years, will reduce interst paid by the borrower as the mortgage will be paid off faster, but it also reduces the borrower's purchasing power, too -- lower amortization = higher monthly payments, therefore tougher to qualify for a more expensive property.
The Finance Minister says that by lowering the maximum refinancing from 90 to 85 per cent means that borrowers will be able to borrow less for renovations and consolidate less of their high interest debt (no wonder the banks applaud these changes), and it will limit the borrower's cash flow, thus limiting reinvestment.

In addition to cutting mortgage terms, Ottawa is taking action to reduce the rapid rise in home equity lines of credit, or HELOCs. The government will do this by clamping down on the insurance that Canada Mortgage and Housing Corp. offers to the lines of credit.

These changes will not take effect imediately because of a requirement to give the industry 60 days notice before making policy changes of this nature, so please contact me if you or any of your contacts is looking to purchase or refinanace a home.

Regards,
George

Just sold this listing: "1800ft2+ Morrison home with OPEN KITCHEN DESIGN and HUGE BONUS ROOM is on a pie lot with a large private SW yard with perennials and prof landscaping. Undgrd sprinkler leads to front of house. Drive up to your dble attached insul. garage. Laundry to right as you enter,2 pc bath,closet and insulated bsmt to left. OPEN layout throughout this home - SPACIOUS kitchen/living/dining area with door leading to back deck. Great for entertaining or watching the kids play while co ... Full Article...

Today’s Market
Still a great time to buy:

1.  Interest rates are still low

5 year fixed mortgages 3.69 %          Variable 2.3 %

Source:  George MacDonald Mortgage Broker

2.  Lots of selection in the market. There are lots of listings for houses and plenty of choices for condos.

3.  Most listing prices fairly reflect the market price – fair priced listings.

Selling:

At this time, we recommend to hold if you don’t have to sell.

If you do need to sell, try to buy in the same market: Selling low and buying low may create the same equity over time.

Advice: Adjust pricing to sell quickly.

 One step at a time in real estate. Trust the process it will work.
If your house is not attracting any buyers, don’t be quick to blame the realtor. Be objective about all the factors that are part of the picture.

New info Dec. 19/2010

Just a reminder: Why use a Realtor? There are many benefits of using a licensed realtor, the first being all must adhere to the Code of Ethics and Standards of Business Practice of the Canadian Real Estate Association. Check the ‘why use a Realtor’ section CREB.com
Average House price - Calgary & district November 2010 399,000

Other topics coming soon to the Palin Real Estate website.

• Choosing an house appraiser …. Smart questions to ask when preparing to list your house.
• FSBO (For Sale By Owner)… is it worth the hassle and heart ache?
• Buying Revenue Property … what to be aware of when making this decision.
• Hiring a Stager before your house sells… Does it really make a difference?
• Landscaping Tips … How to improve your homes face value.
• Security Tips … Making your house safer for you and your family.
• Vacationing and Housesitters … How to build in piece of mind when you leave town.
• Upgrading that pays off … Doing those renos that pay back big time.
• Smart Buying … Location, Location, Location… Making smart choices when buying your next home.
• Shopping for Realtor … make sure there is a personality fit at all levels.

And many more...Contact us today with topics you like to hear about. We are here to support you in any way we can with your real estates needs. Call 403 819 1399 for a no obligation consultation.