The Top 5 Places To Find Cheap Calgary Homes

1. Bank Foreclosures and Court Ordered Sales
2. Vacant and Abandoned Calgary Properties
3. Tenant Occupied Landlord Home Sales
4. Estate and Probate Home Sales
5. Divorcing Home Owners Who Want To Sell Fast

Bank Foreclosures and Court Ordered Sales are at the top of the list. People have visions of banks sitting on tons of properties that they are willing to sell cheap. It’s a myth in Canada that banks sell homes cheap. Let’s clear this one up right away. Banks do not sell homes cheap in Canada. If you hear a story of someone buying a home cheap because it was a foreclosure, the real story is it was cheap because that was all it was worth in the condition it was in. Chasing foreclosure deals is like chasing ghosts. Good Luck with that.

Vacant and Abandoned Calgary Properties should be high on the list. Why is the home vacant? Who’s paying the taxes, utilities, insurance and maybe a mortgage while the home sits empty. We know it’s not a bank with deep pockets that can wait forever. Vacant properties have a story. Finding out what the story is can lead to an opportunity to make money when you buy those types of homes. Put vacant properties high on your list.

Tenant Occupied Landlord Home Sales should not be overlooked. Why is the landlord selling? What’s the story? Is it a bad tenant? Is it a retiring landlord? Is it a couple of owners going in different directions? Finding out why these landlords are selling can present some amazing opportunities. Few landlords have any emotional attachment to these homes. They have usually made lots of money already, so aren’t trying to squeeze every last dime out of it. Overlooking Tenant Occupied Properties in your search for Calgary Real Estate Deals is not a good idea.

Estate and Probate Home Sales happen because the owner has died. Sometimes they have died of natural causes in the home, most times they have not. Someone or a bunch of people have inherited the property. If it’s on the market it’s because they want the money, not the house. It’s very common for battling siblings to inherit a property and just want it sold quickly. Time is more important than money to some. Estate Sales can be great opportunities to snag a good deal.

Divorcing Home Owners Who Want To Sell Fast is by far the number 1 opportunity to make money buying a home. Money is always an issue, but so is just getting things wrapped up so both parties can move on with their lives. Ask any seasoned Realtor where the best deals are, it’s always divorces.

Welcome to "The MLS® Portal"

Reverse The Home Hunting Process - Make Properties Find You - End Online Search Frustration!

Welcome to The MLS® Portal, your single access point for MLS® listing information, brought to you by Jerry Charlton

When you arrive at The MLS® Portal, you may find it convenient to save its website address as a favourite or bookmark in your web browser. This will enable you to easily visit The MLS® Portal at any time.

Listing Information is Provided By Jerry Charlton. 

Jerry Charlton may email listing information to you in two ways: manually or automatically. Both types of emails contain a hyperlink which you can click to visit The MLS® Portal and view the listing information Jerry has prepared for you.

• Manual ("Direct") Emails: Jerry Charlton may personally compile and send MLS® listing information for you. These emails contain a link to The MLS® Portal where these listings are available for you to view. This collection of listings will remain available for you to view on The MLS® Portal for 60 days.

• Auto Emails: Jerry Charlton may also arrange for you to receive auto emails. These are also personally set up and controlled by Jerry Charlton but dispatched by the MLS® system itself, based on your criteria. Auto emails also contain a link to The MLS® Portal where matching listings are available for you to view. Auto emails will continue to be sent to you until you ask Jerry to stop them or you unsubscribe from the service yourself.

On the Start tab, you'll see links to any Direct Emails and/or Auto Emails Jerry has prepared for you. Click on one of those links to view the associated listings.

For additional MLS® Portal Tutorials and Guides visit the link below:

Customer Portal Video Overview

Customer Portal Quick Start Guide

How Much Mortgage Will A Home Rental Payment Carry?

If you cannot pay for a home in full, you are renting. Either you are renting someone else's home or you are renting the money to be able to call it your own home. The big difference is in who gets the equity from your monthly payments. You can rent money via a mortgage and keep the equity or you can add to the landlord's equity every month. Much better to pay yourself by renting the money to buy a home.  

What can you afford? Well, you are probably paying rent plus utilities plus insurance and maybe minor repairs. So chances are good you can afford a mortgage payment based on your rent payments.

This first calculation should be How Much Mortgage would your current home rent payment carry. It's easy to figure out yourself with an excel spreadsheet. Or you could just ask me. Jerry@JerryCharlton.com

But here are the instructions to do it yourself.

You need the formula for a Microsoft Excel spreadsheet based on Canadian Mortgages.

This present value formula is for Canadian Mortgages with Interest Calculated Semi-Annually.

Replace Mortgage Rates with your rate or a cell reference. Same for Amortization and Payment You Can Afford.

=-((PV((1+Mortgage Interest Rate/2)^(1/6)-1,Amortization in Years*12,Monthly Payment You Could Afford)))

The next step is to divide the mortgage amount by the amount you need to finance.

Example 223,231.11 / 95% - 223,231.11 = the 5% Down You Need $11,749.01

Down Payment Plus Mortgage equals $234,980

Here's a quick reference table for you to see the possibilities. Of course, you still would need to qualify for a mortgage, but at least you would know what monthly payment range would be comfortable for you.

We have highly qualified Calgary Mortgage Agents standing by to help you.
Get started today and make yourself rich... not your landlord.

We will also help you become The Landlord as your Trusted Real Estate Investment Advisors!

Searching online for homes to buy can be fun. Also frustrating when you find the perfect home and it is already conditionally sold to somebody else.

So What Does Conditionally Sold Mean?

Conditionally Sold means the home seller has accepted a "Conditional Offer To Purchase" subject to "The Buyers' Conditions".

What Are "The Buyers' Conditions"?

One common Buyer Condition is "Subject To the Buyer getting Approved for a Mortgage".  Another common Buyer Condition is "Subject To The Buyers Approval of the results of a Home Inspection".

Buyers' Conditions are often referred to as "Walk Away Clauses". If a buyer does not waive the buyer conditions in writing by the specified time the offer to purchase contract is voided, the deposit is returned in full to the buyer.

The seller has options after accepting a "Conditional Offer To Purchase".

1. Change the MLS Listing Status to "Pending" and the listing disappears from the internet.

2. Leave the MLS Listing as "Active" to try to get offers in case the first one falls through.

From the seller's perspective if they are feeling confident or not about the first offer going through or not leads them to choose the option of leaving the property on the market or taking it off pending the outcome of the conditions.

Before we book property viewings for our clients we ask if the property is still active or conditionally sold. It's not ideal for our buyers to get excited about a property only to find out it's most likely sold already. But we do see the seller's point of view as well.

The best way to avoid the disappointment of missing out would be to get directly connected to the Real Estate Boards MLS® System. Then you would be amongst the first to see new listings that match your list of wants and needs.

Contact Us Today and we will get the MLS® System Working For You instead of against you! We reverse the process of you searching online for houses to the home finding you. We know our system works best because 100% of our buyer clients switch from wandering the internet and are glad they did.

Contact Us for more information on the entire home buying process in Calgary and how to avoid the disappointment of finding conditionally sold properties.

Get The Truth about Buying Calgary Foreclosures

The flow chart below answers many questions about buying foreclosures in Alberta.

• What is the difference between a bank-owned foreclosure and a judicial sale?
• Can the owner stop the sale of a foreclosure?
• What is the average sale price to list price for foreclosures in Calgary?
• Do foreclosure sellers supply Real Property Reports and Condo Documents?
• Are all foreclosures listed on the MLS System?
• Are banks and courts really motivated to sell off the foreclosures cheap?
• Are appliances included with foreclosed property sales in Calgary?
• Can you add buyer conditions to an offer to purchase a foreclosed home?
• Will the banks and courts give you a counteroffer if they don't like your offer?

Buying Foreclosures in Calgary is a bit different than buying a non-foreclosure. Once you understand the process you can decide for yourself if buying Calgary foreclosures is for you. 

Have a look at this foreclosure flow chart and call us to talk about any parts you want more information on.

What Is A Calgary Residential Real Property Report?

A Real Property Report for Calgary Residential Real Estate is a legal document that shows the property boundaries and anything on the property like homes, decks, garages, pools, sheds, etc.

It includes a visual scale drawing and remarks from the survey company;

Who needs a Real Property Report?

Homebuyers need to know what they are buying. Is the fence or garage on your property or your neighbours? Sellers are required by the Offer to Purchase contract to supply the buyers with a copy of the RPR;

How does a Real Property Report protect you?

A Real Property Report only protects you if you look at it and understand what you are buying along with the house. There could be problems on the RPR you do not want anything to do with. There could be a Utility Right of way from the gas company that prevents you from ever building a garage.

How does municipal compliance protect you?

There are a lot of garages that extend onto the City of Calgary’s property in back lanes. The City will charge you a fee for an encroachment agreement or tell you to move it. You need a Stamp of Compliance from the City to know what you are getting with the house purchase.

How long is a Real Property Report valid?

If there are no changes to the footprint or no bylaw changes, the RPR is good. When the City passed a new bylaw requiring window wells to be on the RPR, it created a huge headache for homeowners that had to get updated RPR’s before selling.

How can I get a Real Property Report updated?

There is not much difference in price between updates and new Real Property Reports in Calgary for some reason.

What is shown on your Real Property Report?

Legal address, lot dimensions, joining properties, easements, encroachments, utility right of ways, permit stamps, surveyor comments, etc.

How much does a Real Property Report cost?

You should be able to spend less than $1,000 on a Real Property Report. It is good to get a few quotes as there is a lot of companies competing for business.

The benefits of a Real Property Report

Problems can sometimes be resolved. Buyers know accurate locations and dimensions of buildings, improvements, rights-of-way, and encroachments relative to their property's boundaries. Financing sometimes requires verified survey information. Development and building permits will require a Real Property Report.

Where do you get more information regarding Real Property Reports for Calgary, Alberta?

Calgarians can start with the Alberta Land Surveyor’s Association. The ALSA website answers the above questions in greater detail. They also have the member companies listed for you to call and get some quotes.

You can also ask me or any other Realtor or a Real Estate Lawyer to refer to a good RPR company. We work with many and have a shortlist we can send you anytime.

Should You Buy or Rent A House in Calgary?

Buy or Rent is a question that gets asked and analyzed a lot in the Calgary Real Estate Market.

I am a Realtor so I’m obviously biased – Yes You Should Buy A Home – In Fact You Should Buy Many Homes – And You Should Move More Often – You should keep me employed and busy!

Landlords want you to stay as a renter and keep paying the mortgage for them. They want you to take care of the property like you own it. And do not cause any problems with neighbours. Pay the rent on time and hand the keys back to them when you're done with no claim on the property whatsoever.

Banks want you to be a homeowner and rent mortgage money from them. They want you to skip payments, defer payments, renew at posted mortgage rates, pay huge penalties for paying off your mortgage too quickly. They want to make a ton of money off you just like your landlord does.

The money side of the buy or rent analysis misses the huge peace of mind component that comes from being your own landlord. How much is it worth to not have to deal with landlord rules? Do this, do not do That….

If you want an easy answer to the Rent or Buy a Home in Calgary Question, just look at who owns the majority of houses in Calgary today. These people did the research, crunched the numbers, and took into account all the variables of home ownership.

These people can't all be wrong, can they? Most of them took out mortgages well over the low mortgage rates that you can get today. So, they are paying a higher rent on mortgage money than you can get, and they are not selling in a panic because of lower investment costs.

Back to the who owns more property in Calgary. Is it Landlords or Homeowners?

The answer is Homeowners live in over 70% of the homes in Calgary. And I know as a Realtor the 30% that are rentals are owned in a large part by the 70%. Many people own 2 or 3 homes. One to live in and the rest to invest in.

The City of Calgary House Data webpage offers up a lot of detailed home ownership information to help you in your buy or rent decision.

Call Me: Jerry Charlton at 403 831 0842 and I will help you help yourself!

Top Ten Home Inspection Problems in Calgary Homes

Each homebuyer has different ideas of what will constitute the ideal home for them, these notions are often based on aesthetic preferences.  But one thing that unites all potential homebuyers is the desire to find a home that is fundamentally sound in areas beyond the immediate sweep of the eye and one that will provide a safe, comfortable, and efficient foundation for their life behind a new door.

This is where the services of a good Calgary Home Inspector comes in. During a home inspection, at least 30 areas of the home are placed under the home inspector’s microscope. We have compiled the ten most common weaknesses uncovered in a typical home inspection.  If not addressed, these problems could cost you thousands of dollars in the long run.  So, knowing what to look for, and performing your own thorough pre-inspection, will help you to identify areas for repair or improvement before they grow into costly problems.

Damp Basement:

If a mildew odour is present, the inspector should be able to detect it, as this smell is almost impossible to mask or eliminate.  A mildew odour is often the first indication of dampness in the basement.  The inspector will also examine the walls, checking for any signs of whitish mineral deposits just above the floor. Repairs can be costly. Consider enlisting the help of an expert to ensure you have a firm grasp on the bottom line before moving forward.

Poorly Installed and or Defective Plumbing:

In older homes, plumbing problems and defects are quite common. The inspector will determine whether your home’s plumbing is subject to leaking or clogging.  Signs of leakage can be visibly detected.  The inspector will test water pressure by turning on all the faucets in the highest bathroom and then flushing the toilet.  If the sound of water is audible, this indicates that the home’s pipes may be too narrow.  The inspector will also check for signs of discolouration in the water when a faucet is first turned on.  The appearance of dirty water is usually an indication that the pipes are rusted. A water quality problem that should be dealt with immediately.

Older and or Poorly Functioning Heating and Cooling Systems:

Heating and cooling systems that are older or have not been properly maintained can pose serious safety and health problems.  An inspector will determine the age of your furnace and, if it is over the average life span of a furnace (15-20 years), will likely suggest you replace it, even if it is still in good condition. 

If your heating system is a forced air gas system, the heat exchanger will be examined very closely, as any cracks can result in the leak of poisonous carbon monoxide gas.  These heat exchangers are irreparable; if damaged, they must be replaced.  While replacing these components may seem expensive, a new system will yield heightened efficiency, reducing monthly heating/ cooling costs substantially, and benefiting your long-term investment. 

Older and Unsafe Electrical System:

In older homes, it is common to find undersized services, aluminum wiring, knob-and-tub wiring, or insufficient/ badly renovated distribution systems.  When an electrical circuit is over-fused, more amperage is drawn on the circuit than what the circuit was intended to bear, creating a fire hazard.  You will typically find a 15-amp circuit in a home, with increased service for larger appliances such as dryers or stoves.  If replacing your fuse panel with a circuit panel, expect a cost of several hundred dollars.

Older/ Leaking Roof:

An asphalt roof will last an average of 15 to 20 years.  Leaks through the roof could be a sign of physical deterioration of the asphalt shingles caused by ageing or could indicate mechanical damage caused by any number of factors, such as a heavy storm.  If you decide your roof requires new shingles get at least three quotes from reputable Calgary Roofing Companies.

Minor Structural Problems:

Common in older homes, these problems range from cracked plaster to small shifts in the foundation.  While this variety of problems is not large enough to cause any real catastrophe, they should be taken care of before they grow.

Poor Ventilation:

Unvented bathrooms and cooking areas can become breeding areas for mold and fungus, which, in turn, lead to air quality issues throughout the house, triggering allergic reactions.  Mold may additionally cause damage to plaster and window frames.  These problems should be identified and taken care of before any permanent damage is caused.

Air Leakage:

A cold, drafty home can be the result of any number of problems, such as ill-fitting doors, aged caulking, low-quality weather strips, or poor attic seals.  This nature of repair can usually be taken care of easily and inexpensively.

Security Features:

An inspector will look at the standard security features that protect your home, such as the types of lock on the doors, windows, patio doors, and the smoke or carbon monoxide detectors and where they’re located throughout the home.  Check with an expert if your home is lacking in any of these areas, to determine what costs to expect.

Drainage/ Grading Problems:

This may be the most common problem found by home inspectors and is a widespread catalyst of damp and mildewed basements.  Solutions to this problem may range from the installation of new gutters and downspouts, to re-grading the lawn and surrounding property to direct water away from the house.

What is this Poly B Water piping found in many Calgary Homes?

"Polybutylene is a form of plastic resin that was used extensively in the manufacture of water supply piping from 1978 until 1995. Due to the low cost of the material and ease of installation, polybutylene piping systems were viewed as "the pipe of the future" and were used as a substitute for traditional copper piping. It is most commonly found in the "Sun Belt" where residential construction was heavy through the 1980's and early-to-mid 90's, but it is also very common in the Mid Atlantic and Northwest Pacific states."

As a busy Real Estate Agent in Calgary, we see poly b piping quite often. Some people are very concerned and will not buy a home with poly b water pipes, while others have no concerns.

Here is a link to a Fact Sheet from the Government of Alberta concerning Poly B - Poly B Fact Sheet - AB Gov

No matter what type of water pipes are in the property you are buying, if it is a concern, do your own Due Diligence as a prudent buyer should do. Get the facts, weigh the facts, decide on the facts, and ignore those crying wolf who have no facts on Poly B water piping in Calgary Homes.

Start your Due Diligence with a google search for poly b as a start.

If you are staying awake at night thinking about poly b piping - A water leak detector like AuqaTrip might help you sleep a bit better. 

AquaTrip.ca

Top Moving Day Tips & Checklist For Calgarians

It is official: you have signed the papers, dotted all the i’s, and crossed the t’s—you own a new home! You have almost reached the end of your journey. However, now, faced with the daunting task of moving, it may seem as though the journey has just begun. Moving can be a time-consuming and stressful experience if you let yourself be overwhelmed by the job. Remember, though, having a successful move means taking care of the details, one by one. If you break the process down into steps and arrange your time accordingly, you can make it manageable. Use the following checklist to ensure you are covering all the bases, and you will be well on your way to a successful move!

Household

• Arrange to have your mail forwarded to your new address.
• Forward or cease all deliveries to your home, and forward or cancel newspaper and magazine subscriptions.
• Disconnect or take care of utility, cable, and phone services and accounts.
• Arrange for utilities to be connected at your new house.
• Cancel pre-authorized bill payments.
• Begin going through closets and discarding any unnecessary items.

Packing

• Plan your packing. Start by purchasing or acquiring suitable containers. Most moving companies have specialized containers you can buy. Also, speak with others who have recently moved—they may be looking to get rid of boxes. You will need the following: small boxes for heavy items (books, tools, etc.); large boxes for bulky items (bedding, stuffed toys, etc.); medium boxes for bulky but less heavy items (towels, small appliances, etc.)
• Begin to collect other packing materials. Decide which items you will need from the following checklist:
• White paper
• Tissue paper
• Paper towels
• Newspapers
• Non-printed paper
• Packing tape or twine to seal boxes and containers
• Scissors
• Labels and stickers (available from your moving company)
• Felt marker to label boxes.
• Notebook and pen for listing contents
• Set goals and deadlines for yourself. The aim, for example, to pack one room per week.
• Attach a list of contents to each box. Separate and label boxes to be placed in storage.
• Consider holding a garage sale to rid yourself of excess belongings.
• Begin to use up the food in your pantry and freezer. Let the food you already have dictate your menus.
• Have rugs cleaned that are to be moved, then roll and wrap them.
• Make special arrangements for the moving of plants or pets.
• Collect all personal items from local services (dry cleaning, storage, photos).
• Service all appliances you are taking with you. Note that all gas appliances must be emptied, as it is illegal for movers to carry flammable substances.
• Take inventory of all the boxes, and contents of the boxes, you have packed.
• Have your car serviced and tuned up.

Community

• Return library books.
• Clean out your locker at any club you are leaving.
• Determine how to transfer your children to a new school.
• Return items you have borrowed to friends and collect any you have lent.
• Mail or e-mail change of address notices to family members, friends, and office contacts.

Records

• If needed, transfer medical and dental records, and fill prescriptions.
• Change the address on your driver’s license.
• Change the billing address for credit cards.
• Change the address for banking statements.
• Leave a record of security codes for new tenants.

Insurance and Legal Matters

• Visit your lawyer and ensure all documents are signed. Notify your insurance company well in advance of the move and ask them to review your policy.
• Transfer insurance to your new home or acquire new insurance. Review your moving company’s insurance policy. If it does not cover as much as you would like it to, obtain your own.
• If you are currently renting a house or apartment, give written notice to the landlord.
• Have all keys to your old home delivered to your lawyer or realtor.