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Wednesday, July 8, 2020 - CMHC Reviews Underwriting Criteria

CMHC Reviews Underwriting Criteria     Ottawa, June 4, 2020   The COVID-19 pandemic is affecting all sectors of Canada?s economy, including housing. Job losses, business closures and a drop in immigration are adversely impacting Canada?s housing markets, and CMHC foresees a 9% to 18% decrease in house prices over the next 12 months. In order to protect future home buyers and reduce risk, CMHC is changing its underwriting policies for insured mortgages. Effective July 1, the following changes ... Full Article...
posted in General at Wed, 08 Jul 2020 16:05:55 +0000

Thursday, August 23, 2018 - PRESENT BUYER'S MARKET

Right now we have 12,456 residential properties on the Edmonton MLS for sale.  This month we've seen 1,170 sales.  With seasonal adjustment, if no new listings enter the market, we have enough inventory for over a year.  That tells me there are many over-priced listings and non-motivated sellers.  To sell right and buy right call me at 780-498-1022.  ROYAL LEPAGE NORALTA REAL ESTATE.   klaushelps.ca
posted in General at Thu, 23 Aug 2018 15:13:08 +0000

Friday, August 17, 2018 - POORLY DESIGNED EGRESS WINDOW

Saw this and just had to share it.  Could this be a new design for a basement egress window?       Klaus Hoffmeier REALTOR®Dependable, trust worthy, & experienced in Real Estate Brokerage since 1986REAL SOLUTIONS TO REAL ESTATE CHALLENGES
posted in General at Fri, 17 Aug 2018 06:52:16 +0000

Wednesday, August 8, 2018 - PURCHASE CONTRACTS 50 years ago and today

REAL ESTATE PURCHASE CONTRACTS THEN & NOW Here is a REAL ESTATE CONTRACT from 1968 - only 1 page, single side, and easy to understand English.  Today REAL ESTATE CONTRACTS are at least 15 pages long with all the accompanying required forms, often difficult for even a professional to fully understand.  I can help you make sense of it all when you become my Client.         Klaus Hoffmeier REALTOR®Dependable, trust worthy, & experienced in Real Estate Brokerage since 1986REAL SOLUTIONS TO REAL ... Full Article...
posted in General at Wed, 08 Aug 2018 20:50:48 +0000

Thursday, August 6, 2015 - RENT TO OWN

Rent to Own Real Estate Agreements Much has been written about Rent-To-Own and millions of dollars have been spent attending seminars on Rent-To-Own.  Right now there are 92,200,000 internet results for the search question "What is a rent to own real estate agreement".   A rent-to-own agreement will typically appeal to someone who does not have the required down payment, and/or can't qualify for a mortgage.  For many people, home ownership may seem like an impossibility; the price increases of ... Full Article...
posted in General at Thu, 06 Aug 2015 04:21:22 +0000

Wednesday, July 29, 2015 - Foreclosure can be avoided

Getting foreclosed on is bad, expensive, and hurtful.  There's a lot of pain and anger before, during, and after.  Relationships suffer, people can go into a long and sad depression, marriages suffer, children suffer, extended families suffer, and once in a while a suicide.  If you see the possibility of foreclosure swallowing you up, call me before you throw in the towel.  I can help you.  I have REAL SOLUTIONS TO REAL ESTATE CHALLENGES.I'm Klaus Hoffmeier and I want your business.  Call me ... Full Article...
posted in General at Wed, 29 Jul 2015 22:25:58 +0000

Tuesday, July 28, 2015 - ONE PHONE CALL IS IMPORTANT

The number one complaint I, as a real estate agent, have about some property managers is not having my phone calls returned.  This prevents your condominium from being sold and helps someone else sell theirs.  I can help fix this unacceptable problem for you.I'm Klaus Hoffmeier and I want your business.  Call me today  780-498-1022.
posted in General at Tue, 28 Jul 2015 05:50:37 +0000

Friday, July 24, 2015 - HOME OWNER ASSOCIATION MANAGEMENT

HOA MANAGEMENT CAN BE CHALLENGING Most homeowners who own property within the boundaries of a HOA don't know quite what they're all about or what their responsibilities to each other are.  Many don't pay their fees, out of ignorance.  Some management companies don't manage delinquent accounts sufficiently, and can be difficult to communicate with.  Over the past few years I have had the privilege of being a director of a HOA.  As its President, I was able to help significantly with its ...
posted in General at Fri, 24 Jul 2015 19:54:54 +0000

Thursday, July 16, 2015 - FAULTY CONCRETE FINISHING

Q:  I moved into my new house just over a year ago and have noticed the surface of concrete driveway and garage pad chipping all over.  My builder said this is normal.  My neighbors concrete is fine. A:  What you describe seems like pitting.  This is caused by a wide variety of conditions.  In some circumstances it occurs from improper placement and finishing techniques.  Some builders will try to convince you that it's either from abuse or natural wear.  A naughty builder will continue with ... Full Article...
posted in General at Thu, 16 Jul 2015 19:26:25 +0000

Wednesday, July 15, 2015 - IMPORTANT TO FIRST TIME BUYERS

REALLY GOOD ADVICE FOR FIRST TIME BUYERS One of the biggest mistakes first-time homebuyers often make is to purchase a house that stretches them to the max of their cash flow.  It's best to purchase a property you can comfortably afford and ensure you avoid becoming "house poor".   Don?t buy or lease big-ticket items or increase debt for 6-12 months prior to purchasing your home either.  This can worsen debt-to-income ratios, which can make you ineligible for the best available loan ...
posted in General at Wed, 15 Jul 2015 21:16:59 +0000

Wednesday, July 15, 2015 - MORTGAGE PREQUALIFYING

We spend much more than we earn;Our household debt is higher than our annual income;SOLUTION:  Our credit card limits are not high enough! That's not the right way to prepare for your mortgage application, though.  The better thing to do is to visit me-your REALTOR® absolutely first.  I'll help you figure out your budget, show you what you can afford and help you on your way to home ownership. Going to the bank first, for what is commonly called, the "PRE-APPROVAL", can often mess you up pretty ... Full Article...
posted in General at Wed, 15 Jul 2015 19:35:37 +0000

Saturday, July 11, 2015 - BUYING A CONDOMINIUM

CMHC's 39 page guide is very handy to review before you buy a condominium.  Click on the following link to see what tips they offer: http://www.cmhc-schl.gc.ca/odpub/pdf/63100.pdf ... or you can call me and get the condensed version.  :) I'm Klaus Hoffmeier and I want your business.  Call me today  780-498-1022.
posted in General at Sat, 11 Jul 2015 04:16:08 +0000

Thursday, July 9, 2015 - AGENTS COMPETING FOR A LISTING

Q:  We've had 3 real estate agents give prices on our house.  Between them there's quite a difference and we don't know what is a realistic selling price.  Should we choose the high, middle or lowest price? A:  Any of the three prices may be the correct one.  To choose an agent simply by the price you are presented is not in your best interests.  There is a practice within the real estate industry of "bidding up" prices when agents know they are competing for your listing.  Some follow this, ... Full Article...
posted in General at Thu, 09 Jul 2015 20:45:31 +0000

Wednesday, July 8, 2015 - CONDOMINIUM PARKING

It's natural to expect your own parking stall when you buy a condominium.   If parking is really important to you, however, make sure you know exactly what you're getting before you sign on the dotted line.  Here are a few parking variables to be aware of: Assigned parking.Each condominium unit is assigned a designated parking space. Assigned parking by lottery.?Where a condominium project has less parking stalls than living units, an annual lottery may be held to determine who gets a parking ... Full Article...
posted in General at Wed, 08 Jul 2015 20:21:10 +0000

Tuesday, July 7, 2015 - REAL ESTATE AGENT FEES

Q:  (Sample Question) I want to sell my house.  What is the standard real estate commission I should expect to pay?A:  There is no standard real estate commission.  Commissions are negotiable.  The extent of services can vary between brokerages.  A lower fee may seem attractive, however, if the result is less than what you expected, what are you going to do?  Some companies will rent or sell you a few signs, give you a few brochures, take your money in advance, and bid you farewell.  You'll ... Full Article...
posted in General at Tue, 07 Jul 2015 17:20:14 +0000

Monday, July 6, 2015 - HOA BASICS

Home Owner Associations (HOAs) are not-for-profit associations comprised of all property owners within specific community boundaries.  The primary purposes of HOA?s are to fund and oversee the maintenance of properties owned by them, to maintain the premium features funded by them on Municipal owned lands, and uphold their By-Laws (Articles of Association) and Architectural Guidelines.  They are governed by a volunteer Board of Directors, elected by the membership at their Annual General ...
posted in General at Mon, 06 Jul 2015 18:14:34 +0000

Tuesday, June 30, 2015 - FSBO? REALLY?

In 1966 my parents purchased their first home, through a REALTOR®.  The contract document consisted of 1 letter size page, triple spaced, with over 3/4's being "fill in the blanks".  When I became a REALTOR®  in 1986, we used a 2 page contract.  Today, you can expect to sign and initial at least 5 documents totalling at least 15 single spaced pages when you buy a home.  Although the very basic steps of finding you a home have not changed very much, the complexity and time involved in managing ... Full Article...
posted in General at Tue, 30 Jun 2015 02:27:37 +0000

Monday, June 1, 2015 - MARKET ACTIVITY REPORT

May/2015 over 1,600 homes sold - WHY NOT YOURS? Average single family sale last month was $452,946.  Average condo was $257,975.  Right now there are 8,879 active listings and 641 are VACANT.  This is a great time to buy your home. I'm Klaus Hoffmeier and I want your business.  Call me today  780-498-1022.
posted in General at Mon, 01 Jun 2015 19:08:11 +0000

Monday, May 25, 2015 - CAN'T FIND THE RIGHT HOME?

Over 9,200 homes are presently on the market, and you can't find one?  You may need to re-evaluate your criteria. I'm Klaus Hoffmeier and I want your business.  Call me today  780-498-1022.
posted in General at Mon, 25 May 2015 22:29:21 +0000

Monday, May 25, 2015 - RECENT SALES

To date, 1549 homes have sold in Edmonton.  Why did yours not sell? I'm Klaus Hoffmeier and I want your business.  Call me today  780-498-1022.
posted in General at Mon, 25 May 2015 22:24:39 +0000

Thursday, May 14, 2015 - BOGUS REAL ESTATE ADS

Earlier this week Global TV Calgary aired a segment about illegitimate foreclosure real estate ads posted on Kijiji.  The Real Estate Council of Alberta (RECA) takes unlicensed activity very seriously.  Many licensed real estate professionals use Kijiji and other similar websites to advertise their listings and attract new clients.  They are required to include their full name and brokerage name on their ads.  This practice is a safeguard for the consumer and shows compliance with the Real ...
posted in General at Thu, 14 May 2015 17:01:59 +0000

Wednesday, May 13, 2015 - GET RICH QUICK IN REAL ESTATE

FORECLOSURES in Edmonton number about 65 right now.  Those are on the Multiple Listing Service® (MLS®) and are marketed by REALTORS®.  Some of these properties are posted as uninhabitable, some were grow-ops, some have been condemned.  Almost all have these in common: sold as is-where is at time of possession, and sold unconditionally with no or little information provided by the seller or the seller's agent.  This is not a place to get rich quick.   You can sure get poor quick though.  It's ... Full Article...
posted in General at Wed, 13 May 2015 04:43:51 +0000

Tuesday, May 12, 2015 - COSTS TO BUY A HOME HAVE COME DOWN

Alberta Real Estate Association (AREA) update The newly elected Alberta provincial government will create ripple effects as its priorities shift . One element of the NDP platform was a promise to repeal the (600%) increases to mortgage registration and land title registration fees that were put forward in the PC budget in March 2015, and restore the current 2014/15 fees. Recent statements from the NDP indicate that there is no official timeline yet for this to take place, as the election result ... Full Article...
posted in General at Tue, 12 May 2015 21:01:50 +0000

Wednesday, April 29, 2015 - MORTGAGE PRE-APPROVALS

Obtaining a mortgage pre-approval is probably the most important step in purchasing a home.  It's your ticket to go shopping.  It provides specific information about how much you can borrow, what your spending limit should be, your interest rate and lots of other financial goodies.  Following is what one of my clients received a few days ago from their bank; Hello ______.  I have an application pre-approved for you, however you must make any offer to purchase conditional to financing.  The ...
posted in General at Wed, 29 Apr 2015 22:43:43 +0000

Wednesday, October 24, 2012 - REALTORS Association of Edmonton Presents Fraud Warning

The perpetrator is known to the police, but cannot be named because he has not yet been charged. The perpetrator is charming, glib and everything you would expect of a great potential buyer.  He offers to take immediate possession of a high-value, vacant property perhaps with a tenancy-at-will or other short term contract.  He will have all sorts of excuses and stories about incidents that prevent him from following through on promises.  With a large sale in sight, some temptation may be there ... Full Article...
posted in General at Wed, 24 Oct 2012 23:38:28 +0000

Sunday, October 21, 2012 - FAMILIES ARE AFFECTED BY THEIR EVER CHANGING REAL ESTATE NEEDS

Generally speaking, buying or selling real estate can either be enjoyable or not.  People will buy or sell real estate whenever the notion suites them. The greatest influence we have is a change to our lifestyle.  Health, births, deaths, changes in employment, marriage and divorce are all significant influences on our lifestyle.  They are major contributors in determining the what and the when to buy or sell, or both. Unfortunately, not everyone is able to look after their real estate needs (in ... Full Article...
posted in General at Sun, 21 Oct 2012 00:40:28 +0000

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Klaus Hoffmeier REALTOR®
Dependable, trust worthy, & experienced in Real Estate Brokerage since 1986
REAL SOLUTIONS TO REAL ESTATE CHALLENGES