May 2018

There are 3 blog entries for May 2018.

Edmonton home buyers and sellers have recently been confronted with the new reality of higher mortgage interest rates after many years of historic lows.  When the federal government instituted the mortgage stress test last year, I predicted that mortgage rates would be going up. And in a hurry. They have increased even higher than the 4.5% that was set with the stress test.  So far, it looks like my predictions is coming to fruition.

Now having said that, Canadians have enjoyed very low interest rates for many years now.  This has allowed people to borrow higher amounts for the same payment that they would be paying for less money back in the early 2000's.

So what does this mean for somebody who is wanting to buy an Edmonton home this summer? 

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My grandpa, on my dad's side, owns a farm up in Northwestern Alberta. He is a hard-working man who was still farming and calving into his early 80's. I try to get up there once or twice a year for a visit.   I certainly didn't expect to get real estate tips from him.  However, by observing what he was doing as he got older, I was able to do just that. The key thing that he taught me was how to create secondary income within the property that you own.   So how did he do it?    Well, as he got into his 60's and 70's, he was getting a little too tired to be able to farm full time. So rather than sell his farm he decided to lease the land out to his neighbors and others in the community, under a condition. He mandated in the lease, he…
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When we were kids, we knew nothing about real estate. The only thing we needed was a place to rest our head at the end of a long day and hopefully a neighborhood that had a lot of kids our age that we could play with.

I always thought that my first childhood home would be the house we would live in until I was old enough to move out and buy my own. I never knew the concept of moving from one house to another. Until I was 5 years old and my grandpa decided to sell is acreage.

When he sold his acreage, he taught me a great lesson about the importance of supply and demand in real estate.

The city of Edmonton had decided to expand the LRT system.  A bridge needed to be built over top of my grandpa's acreage to help ease the driving traffic that would

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