1. How can I purchase these properties as a Canadian
2. Can I locate and purchase foreclosures in Canada

Let me address the Canadian Foreclosures First.

Beware of any company trying to sell a list of foreclosures.  All these software programs do is take words from the comments on the MLS and try and create a list.   Banks, Court of Queens Bench, and CMHC do not provide such a list.  In fact when we market and sale “Bank Owned” properties they forbid us from putting foreclosure in the comment section.

When a home is being foreclosed on the owner must make an appearance in front of a judge.  The judge will decide how long before that person either brings the mortgage up to date or must vacate the property.  Its called a redemption period.  It can range from 30days to 6 months depending on the judge’s decision.  During this time the property will usually get listed with a brokerage.  Offers will be accepted right up to the date the owners move out.  At that time all offers are reviewed by the judge and presented to the lender.  If the lender is not satisfied with any of the offers then they can take ownership and re sell as Bank owned.  Many times the insurer CMHC will take the property back.  Once the property is taken back then the insurer can and usually will put the property back on the market with a brokerage.

There are opportunities to get a bargain but remember all these properties are sold as is where is without any history provided.  You really need someone who knows what they are doing to protect your interests if you are not familiar with the process.

The US market is also tricky.  It can be tough to get a mortgage if your Canadian so get that looked after first.  If you are paying cash its easy but be careful with your intentions.  Are you buying to rent it our or just hold it.  The rental market in the US is tough.  Also beware of property taxes as a Canadian, some states charge triple if you are from Canada which makes the monthly cost too high.

Rob  Vanovermeire

Maxwell City Central, broker

C. 403-870-8704

F. 403-451-1514

www.maxwellcitycentral.ca

River Park Church Auditorium
3818- 14A St. SW, Calgary

The next film to be shown by the Marda Loop Justice Film Festival is:

War Child set for Tuesday Sep, 14th at 07:00 PM

Visit the Film Nights Page to find out about the film(s) & speaker(s) at the event.

By Derek Sankey

If you’re affected in any way by the commercial real estate sector in Calgary, it probably depends largely on the type and location of space as to whether you can expect to upgrade into higher quality at a bargain, renegotiate your lease, even find space in some areas of the market or take your pick.
In downtown Calgary, it’s been a busy few months as tenants look to upgrade into a growing abundance of office space. “A lot of companies are using this environment as an opportunity to upgrade their space – whether that means quality or moving from small floor-plate space to large floor-plate space – those are the kinds of things driving a lot of business decisions today,” says Todd Throndson, managing director of Avison Young.
“There have been a lot of big deals done in the marketplace,” he says. That trend isn’t expected to last into the latter part of the year – most big deals have already been done – but tenants can expect a surge of new space from projects such as Eighth Avenue Place and The Bow to add new options into 2011 and beyond. “I think it’s going to stagnate a little going into the last half of this year, but what has really been interesting has been to watch the level of high-quality tenants go after high-quality space,” says Throndson.
Rents downtown have dropped 50 per cent from their peak during the boom, so a lot of businesses are locking in now with the anticipation that after the market absorbs the new space expected to come available over the next two years, rents will creep back up.
“A tenant can get into a much better building, get an allowance that pays for all or most of their costs for improving their space and they’re set for the next 10 or 15 years,” says Throndson, adding landlords are now offering $60-80 per square foot for things like renovations in many buildings.
“There will be a lot of pressure on markets going down next year, but right now it’s flat and next year it will probably be a lot more aggressive,” he says. Once the two major projects hit the market – Eight Avenue Place in 2011 and then Encana’s The Bow office tower – places will get backfilled and there is already a lot of sub-lease space available. Current vacancy rates hover around 15 per cent in the downtown core, depending on the type and location of space, and that number could swell close to 20 per cent within a few years.
Greg Kwong, regional managing director for CB Richard Ellis (CBRE) in Calgary, believes some developers may be wishing they had crystal balls just a couple of years ago.
“When (the developers of Eighth Avenue Place) made the decision to actually go ahead with it and start developing it, the market was actually quite robust, but by the time they said OK and committed the money, six months into it the market crashed,” says Kwong. “I’ll bet you if they could have shut it off, they would have.”
It’s quite a different story in the suburban office market.
“Suburban (office space) has been a lot quieter than downtown,” explains Throndson. “A lot of the vacancies that are out there have stayed vacant.”
There are mostly smaller pockets available, since large engineering companies have already largely locked into suburban office space commitments – the real drivers of the suburban market. Rental rates in this sector have gone down and incentives have gone up, but there’s still not a lot of big deals being done in the suburbs.
The vacancy rate in the suburbs is around 15 per cent, according to CBRE’s recent analysis, and lease rates have decreased to an average of $16.72 per square foot.
“While vacancy is forecast to decline, rental rates are projected to remain relatively static until the market approaches more balanced levels. It remains to be seen what impact the delivery of new space downtown will have on the suburban office market,” states CBRE’s forecast. “While the beltline sub-market will be affected, there has not been a significant migration back into the core from other suburban sub-markets so far in this cycle. Should that hold true, improvement in the engineering sector and limited new inventory should allow the suburban office market to continue on the road to recovery.”
The industrial real estate sector is yet another wrinkle in the broader commercial sector.
“The market activity has definitely picked up 100 per cent over six months ago (in industrial real estate),” says Kwong. It’s mainly due to an influx of oilpatch activity – the energy sector accounts for about 40-50 per cent of industrial real estate activity in Calgary, with the remainder comprised of distribution and warehousing and other heavy manufacturing.
Northeast Calgary has had the highest vacancy rate in the third quarter, but that dropped slightly as most of the new construction has taken place in northeast and southeast Calgary.
“The good thing about the industrial market is that developers are able to react quicker by stopping projects or choosing not to build projects,” Kwong says. “There’s only a six- to 18-month time-frame to actually build a larger industrial facility, whereas a downtown office building is three to four years out – you’re committed.”
While vacancy in the industrial sector reached about five per cent in the second quarter of the year, no new projects are going to immediately hit the market, causing further constraint. But by the end of 2010 and into 2011, more projects will become available as developers react to the demand amid a recovering economy.
“Land prices were getting up to a point where they were getting almost to be uneconomical a year and a half to two years ago, but those have now dropped quite dramatically and more importantly availability (has increased),” says Kwong.
Supply remains strong heading into 2011. “There is a short-term supply that should satisfy any growth at this point,” he says.
Commercial retail space in Calgary is something of an anomaly compared to other major centres. There simply isn’t much of it and never has been.
“Calgary is extremely under-retailed per capita compared to other regions in Canada,” explains Krystyn Gatto, retail leasing associate with Colliers Calgary. “You can even see it if you go up to Edmonton and there’s a shopping mall on every corner, where in Calgary you don’t see them on many corners.”
Even the expansion and renovations taking place at destinations such as Chinook Centre, The Core and various suburban shopping malls still leaves the retail vacancy rate at about 1.5 per cent, says Gatto. Still, that’s an improvement from rates below one per cent two years ago.
“There’s been more of a (levelling) of the playing field,” she says. “In the last couple years, it was really a landlord’s game in which they could demand the rates that they wanted. Now, the tenants have a little bit more of an advantage.”
Every quadrant and sector is unique, but in retail the city is moving to the “town centre” format of developments such as Seton in the city’s southeast and Sage Hill Crossing in the northwest community of Symons Valley.
Wherever you look in commercial real estate, it could be a game changer in 2011. It all just depends where you look, so keep your eyes open.

Calgary Farmers Market: – Here you’ll find all the fruits, vegetables, baking, cheese, and meat products you’d expect at a farmers market. The nice thing is that many of the products are organic.

Sandy Beach / River Park: – A very nice park in the middle of the city where you can have a barbecue or play in the Elbow River. There’s playground equipment for the kids, lots of picnic tables and washrooms. This is also a dog lovers paradise.

Nearby Attractions:

Calgary Library – Alexander Calhoun Public Library.
Easy Access: Ground-level entrance, electric doors, one designated parking space, convenient drop-off zone. Wheelchair Accessible: Washrooms, computer catalogue, study table, telephone.

Community Amenities: – South Calgary Outdoor Pool, introduces exciting NEW aquatic based programs. Drop in & Registered classes for the whole family.

Museum of the Regiments: – The Military Museums is a compendium of 7 museums situated on 13 acres, encompassing an area of 107,000 square feet and displaying Canadian Forces’ history and heritage from the beginning to present day.

Naval Museum: – Volunteers have worked tirelessly over the years to restore aircraft, guns, ship models and hundreds of artifacts and mementoes that were used during training and war on the high seas dating back two hundred years or more.

Sometimes the news is guilty of using stats to create either a sellers market or a buyers market (people tend to watch the news more when it favors one group over the other).  The truth is we as licensed professionals prefer to see a balanced market which doesn’t get a lot of news coverage.  Normally in Calgary/surrounding areas this time of year we will sell around 2300 homes/condo’s.  This year we are down around 1800 a drop of around 22%, which is significant but not terrible either when you consider the prices haven’t changed.

This means we are in a buyers market but the sellers are also not desperate to sell either which is what is keeping our prices holding.  I think we will see more of this for a while, which really offers a good opportunity to take advantage of low interest rates & more inventory.

If you would like a full market update, including individual community stats, & foreclosure information call me for a FREE consultation.

Rob  Vanovermeire

Maxwell City Central, broker

C. 403-870-8704

F. 403-451-1514

www.maxwellcitycentral.ca

Online registration for all age categories is now available. Follow the link below to access our registration system …

PLEASE READ THIS DOCUMENT CAREFULLY BEFORE STARTING THE ON-LINE REGISTRATION.

NOTE – You need to use IE7 or higher or Firefox to access the Online Registration website.

ON-LINE REGISTRATION

Registrations for the 2010/11 season should be done online.  The link that directs you to our registration system can be found at the end of this document.

There will be NO in-person registrations this season.

ON-LINE HELP

If you are having any problems or issues with the Hockey Canada on-line registration system, please contact George Galbraith, Glenlake Registrar at registrar@glenlakehockey.com or contact Nicole Mitenko, Glenlake Administrator at admin@glenlakehockey.com

PAYMENTS

The on-line registration system can ONLY accept VISA or MasterCard. Sorry no cheques or money orders.  If you need to pay by instalment cheques or apply for the financial assistance program, please contact the Glenlake Registrar at registrar@glenlakehockey.com.

ROYALS

Players trying-out for the Calgary Royals need to pay by cheque and cannot register on-line. They must contact the registrar prior to registering at registrar@glenlakehockey.com

2010-08-17

Online registration for all age categories is now available. Follow the link below to access our registration system …

PLEASE READ THIS DOCUMENT CAREFULLY BEFORE STARTING THE ON-LINE REGISTRATION.

NOTE – You need to use IE7 or higher or Firefox to access the Online Registration website.

ON-LINE REGISTRATION

Registrations for the 2010/11 season should be done online.  The link that directs you to our registration system can be found at the end of this document.

There will be NO in-person registrations this season.

ON-LINE HELP

If you are having any problems or issues with the Hockey Canada on-line registration system, please contact George Galbraith, Glenlake Registrar at registrar@glenlakehockey.com or contact Nicole Mitenko, Glenlake Administrator at admin@glenlakehockey.com

PAYMENTS

The on-line registration system can ONLY accept VISA or MasterCard. Sorry no cheques or money orders.  If you need to pay by instalment cheques or apply for the financial assistance program, please contact the Glenlake Registrar at registrar@glenlakehockey.com.

ROYALS

Players trying-out for the Calgary Royals need to pay by cheque and cannot register on-line. They must contact the registrar prior to registering at registrar@glenlakehockey.com

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2. Check the exterior of items like siding, window sashes, trim, and shutters. Clean these areas and/or paint, as needed. Give special attention to the front door area.

3. Make sure your gutters are clean of debris. Wash or paint, as needed. Re-align the gutters if they look crooked.

4. Replace broken windows, doors, and screens. Make sure each looks clean and in good condition.

5. Wash driveways and sidewalks. Patch holes and try to remove stains.

6. Repair any broken areas of your fence, deck, patio, etc. Make sure these areas are clean and in good shape.

7. Arrange outdoor furniture and firewood neatly. Put away all lawn equipment, bikes, and other toys.

8. Check the roof for shingles or flashing that needs replacing or repair.

9. Touch up the “little things” – house numbers, mailbox, doorbell, etc.

10. Add color to your yard and front porch with flowers and/or hanging plants.

11. Repaint the address on your curb, if available.

12. Install decorative metal or stone borders between your lawn and planting beds.

13. Add large potted plants. Borrow if necessary.

14. Add fertilization or other greening agent to everything.

15. Buy an expensive outside porch light.

Picking the right agent is one of those critical issues that can cost or save you thousands of dollars. There are very specific questions that you should be asking to ensure that you get the best representation for your needs. Many agents would prefer that you don’t ask these questions, because the knowledge you will gain from their honest answers will give you a very good idea of what outcome you can expect from using this agent. Let’s face it – in real estate, as in life – not all things are created equal.

Hiring a real estate agent is like any hiring process – with you on the boss’ side of the desk. It’s critical that you make the right decision about who will handle what is maybe one of the single largest financial investments you will ever make. You should ask your agents the following questions:

1. Do you make it easy for buyers to get information about my home?
In addition to using the multiple listing service, you may be surprised to know that the other two marketing tools that agents use to sell homes (open houses and big company ads) are actually not very effective at all. In fact, according the National Association of Realtors®, less than 3% of people purchase their home as a result of calling on a company ad, and less than 1% of homes are sold at an open house. How do most homes in Calgary sell? As I said earlier – the MLS. When an agent puts a home on the MLS, every agent from every company has access to show and sell that home. By the way, there are 5400 Realtors® in Calgary Alberta.

Furthermore, the prospects calling for information on your home probably value their time as much as you do. The last thing they want to be subjected to is either a game of telephone tag with an agent or an unwanted sales pitch. Make sure the ad your agent builds a website for your home which gives buyers access to detailed information about your property day or night, seven days a week. Also, make your prospective agent show you his/her website with all their listings. Request information from the site on a particular listing and see how long it takes for that agent to get in touch with you. Twenty-four hours is the goal! We have found that six times as many buyers go the web or free phone information systems for information on your home. Remember, the more buyers you have competing for your home the better, because it sets up an auction-like atmosphere that puts you in the driver’s seat.

2. What is your commission and why are you worth it?
Don’t ever agree to any commission unless you are shown exactly how this agent earns it. Fact: real estate commissions are NOT set by law! Your new agent should be able to show you how to make money, not cost you money.

3. Do you have at least three assistants to help you? Tell me about your team.
Most agents work by themselves without any support making it difficult for them to provide you with a consistently superior level of service. The job of real estate has many and varied parts to it. Just as you wouldn’t expect a doctor or lawyer to answer phones or type letters, so your real estate agent shouldn’t be spending their time on simple, but time-consuming tasks that could be delegated. If the agent doesn’t have assistants or team members to cover each aspect of your transaction, you should ask yourself how much time they really have to get your home sold. Note: An assistant is much different than the company receptionist. The company receptionist works for ALL agents in the office, but an assistant only works for one agent and could be a licensed real estate professional.

4. Specifically, how do you attract buyers?
The agent should be able to explain, step-by-step, how they attract buyers and show you evidence. If they can’t, hire another agent! Do not hire any agent who tells you their reputation will somehow attract buyers. Make them prove it! For instance, Rob Vanovermeire has over eighteen methods to attract buyers. We even have a buyer’s club for motivated buyers to join!

5. What has been sold in my area?
Agents should bring you a list of comparable sales in your area. It should include expireds, cancelleds, and pendings. They should be scientifically compared by square footage, amenities, and emotional aspects.

6. What specific advertising will you be doing to get your home sold?
If they expect to get your home sold by using only a big company ad, open houses, or a mediocre website then you are in big trouble. Make them be specific and put what advertising they promise in writing. Test their search engine strategy by going to www.google.com and searching for Alberta Real Estate, Calgary Real Estate, and your community.

7. On average, when your listings sell, how close is the selling price to the asking price?
Their performance on this measurement will help you predict how high of a price you will get for the sale of your home. For instance, the average list to sale ratio for the 97.1%. Rob is at 98.5%.

8. How many buyers are you currently working with? Do you have a list? How do you track your buyers?
Obviously, the more buyers your agent is working with, the better your chances are of selling your home quickly. It will also impact price because an agent with many buyers can set up an auction-like atmosphere where many buyers bid on your home at the same time. Ask them to see the list and describe the system they use for working with these buyers. They should have the list of buyer with them at ALL times. If they have a lot of buyers, they will certainly need a computerized system to keep track of them. If they can’t or won’t show you a list of their buyers, hire another agent. Note: There is a big difference between a list of actual buyers and a printout of a database. An actual buyer list should contain the buyer’s financial qualifications as well as what type of property they are interested in. Anything other than this type of list just doesn’t cut the mustard! Rob’s list includes name, contact information, pre-approved status, and exactly what they are looking for.

9. What makes you different? Why should I list my home with you?
It’s a much different real estate market than it was even one year ago. What unique plans and programs does this agent have in place to make certain that your home stands out favorably among other competing homes? What things does this agent offer you that others don’t to help sell your home with the least amount of hassle and for the most amount of money? What type of technology do you use to help sell my home? Can you give me a demonstration of that technology? Note: Some of the most effective tools in real estate today are the twenty-four hour open house, expensive search engine strategies, and interactive websites. Remember, have them demonstrate while they are at your home.

10. Can I cancel my listing at any time?
Don’t ever sign anything unless this agent can guarantee, in writing, that they will cancel your listing at any time if you decide not to you’re your home, if you are not satisfied with the service being provided, or if the problem cannot be solved.

Bonus Question:
Ask them how their services compare to other companies and be specific. Ask them about specific companies.
If they say anything negative about another company and try to make another company look bad, hire another agent. Get the facts for yourself. Also, if they brag about how many homes they sell, how good they are, or that they are number one – run the other way! It seems that every real estate company is claiming to be number one anymore. Rob encourages you to compare any other company’s services to ours based on FACTS not fiction.

2. Expressing Utility:
In order for real estate to have value, it must have usefulness or utility. Usefulness creates a desire for possession and has the power to give satisfaction. Will the typical buyer in the marketplace have their needs met by purchasing your home? We know how to show the utility of your home to the marketplace.

3. Perceived Scarcity:
In order for real estate to be of value, it must be relatively scarce. If too many houses like yours are for sale, it will negatively impact the value of your home. If the buyers perceive scarcity from our direct mail, telemarketing, and web promotions – they will have a stronger desire. Ask about our pre-listing consultation and how it builds scarcity.

4. Increasing Purchasing Power:
Purchasing power is created by desire. Can the buyer who desires the property afford the property? The more people who can afford the property the better. With our creative financing plans, we can help more people with their desire to buy your property.

5. Placing It High on the Hierarchy of Needs:
Maslow said that the higher you go on the needs pyramid, the more self-actualization is realized. Our marketing does not offer square footage, bedrooms, and baths, but a solution to someone’s search for core values.