Lethbridge Mortgages for dummies!   If your looking for the next big best seller in the whole niche of Lethbridge real estate and mortgages, you might want to check out this great new release! Of course, this is the only copy, so you might have to message me and borrow my copy. 07/05/2011

The City of Lethbridge released their official 2011 census results today. The city showed a population of 87,882, an increase of 1.41 per cent over the 2010 municipal census numbers. The strongest growth occurred in West and South Lethbridge with 664 and 362 new residents respectively. The Northside had a slight increase. “The Census results reflect the City remains a vibrant, dynamic community showing a continued sustainable growth pattern”, says Mayor Rajko Dodic. “It remains encouraging that we are still growing. Lethbridge continues to have constant and stable growth.” West Lethbridge has the largest population at 32,063. South Lethbridge came in second with 30,504 people, and Northside trailed with 25,315. 06/22/2011

Lethbridge Real Estate Photo Courtesy: Robert W. May     Title: Sunset on New Havana   Just got an email from one of our private lenders.  They are offering a unique product which basically amounts to 85% financing for clients with slightly bad credit or otherwise challenged mortgage applications.   This is a great opportunity for those who have been held back and not had financing available to them because of these issues.  A client who now suffers from some weak credit can buy or refinance with only 15% equity.    Of course, with this type of mortgage product there are slightly higher interest rates and sometimes a lender fee collected, but in the end this mortgage product still serves a niche market of Canadians who just do not fit with the traditional big banks mortgage guidelines.... 06/16/2011

Lethbridge Real Estate Update   Well we are now into June 2011 and the Lethbridge real estate market is entering it's busiest part of the year.  There are LOTS of properties on the market.  The excess supply is keeping downward pressure on prices and so only the Lethbridge homes for sale that are in the nicest locations or best condition are the ones that are getting sold.  The houses that are priced too high or need work, are simply not attracting buyers.   Interest rates are still low and came down a fraction lower in the past week.  I can now get qualitifed clients a 5 year Fixed rate mortgage for 3.69%.   AND, I am working on an innovative new program to cut that rate even further for select clients!  This will be amazing once it comes together and should be able to allow Verico Can... 06/10/2011

The Bank of Canada sets a minimum qualifying interest rate for consumers who are applying for a mortgage.  This applies to all mortgage terms of less than 5 years.   What this means to you as a consumer is that if you are applying for a mortgage and want to take a 5 year term, you must qualify at the actual rate you are getting from the bank.  For example, 3.69%.   However, if you are taking a term of less than 5 years, despite the fact that you may be getting a rate of 3% or 4%, you must be qualified using the Bank of Canada minimum rate. The Bank of Canada Qualifying Rate has decreased to 5.59%, effective Monday May 29, 2011 at 11:59 p.m. ET.  That means that you must qualify at 5.59% instead of the actual rate you are getting. Check this pic out of a unique piece of real estate I fou... 05/30/2011

I am asked by both clients and Lethbridge real estate professionals on a weekly basis for information and advice regarding basement suites.  This is a very serious issue here in the Lethbridge Alberta real estate market as our basement suite marketplace is prime for investors who are looking for maximum return on their real estate investment, and also for home buyers who wish to supplement their income and help make their mortgage payment with a little revenue out of a secondary suite in their property.   So, as a matter of interest and public benefit, here is  the original text of the Alberta Fire Code which governs these suites.  It is pretty important to read it and understand it before buying or selling a property with a suite in it.  It is also very important the all real estate pr... 05/25/2011

TSX -57.15 Fri to 13,595.12 (Reuters) as most TSX sectors backed off amid another flare-up of worry over the European debt crisis. The TSX played catch up to losses that piled up on stock markets around the globe after S+ P's lowered its outlook on Italy's A-plus sovereign-credit rating from stable to negative last Friday. But the main concern centres on whether Greece will restructure its debt, a scenario that ratings agency Moody's said would constitute a default, which could badly hit the other debt-laden euro countries. DOW -25.05 to 12,356.21 On the economic front, the U.S. Commerce Department said new-home sales rose 7.3 per cent last month to a seasonally adjusted annual rate of 323,000 homes. It is the second straight monthly gain. However, a normal housing market would mean a ... 05/25/2011

Lethbridge Real Estate - Paradise Canyon Golf Course Condo For Sale   Check out this new Lethbridge listing.  Golf season is upon us and the course at Paradise Canyon is looking good as usual.  You do not need to fly to Arizona or some other awful place to enjoy the scenery and lifestyle of living right on a great professional quality course.  This great upper floor condominium unit is packed with features and value.   The home has over 1300 square feet, 2 large sized bedrooms each with a walk in closet, 2 full bathrooms, fireplace, air conditioning, clay tile roof, new flooring, single attached garage, and a brand new set of metal commercial grade entrance stairs.  This is a great place to set up for retirement or enjoy living in scenery and relaxation.  The club house is only a short ... 05/16/2011

Lethbridge real estate - New Listing Some of the best deals in the local Lethbridge real estate market are sold long before they ever get listed or publicized.  In fact, our local newspaper print publication is actually composed of data that is a week old or older, as such the chances are very slim that you will ever learn of a hot deal there.   I try to keep my clients informed of properties that are coming onto the market in the near future.  Often they are able to be the first to view them, first to learn about them, and the first to buy them.   If you are searching for a specific type of home in Lethbridge, give me a call and let me know what it is.  I just might know of an upcoming property that fits the bill.   For example:  Coming later this month is the following;   Uplands - No... 05/04/2011

Powers of Attorney and Real Estate Powers of Attorney can be both a huge risk as well as a tremendous tool in real estate. Here's the big question: When is the use of a Power of Attorney appropriate and when it is not? We realtors can not simply accept a client's assurance that they have the authority to sign on behalf of another person. We need to see Power of Attorney. The Power of Attorney will then be reviewed as to its validity and intended use for the transaction and a photocopy taken for the office file.  Please note that originals will be required by Land Titles later. All Power of Attorney's must be signed while the person granting it has sufficient mental capacity to understand it. If the person granting the document is incompetent, then it will be invalid.  Realtors themselve... 05/04/2011

I Sold This House in Raymond AB, Now I Want to Donate As you may already know I fully support Kiva.  I start one loan for every real estate transaction.  It has been a great privilege to follow the progress of the recipients of the loan.  For those of you not familiar with Kiva, it is a non-profit organization that works in micro-finance.  It allows individuals to get together to fund an interest-free loan for an entrepreneur in a developing country.  This particular home as shown in the picture above is located in Raymond, AB.  Because it was sold, I am able to help with a loan for Taj and Ghulam Sarwar's Group in Jaranwala Pakistan.  This husband/wife group (wife shown in picture holding book) run a restaurant.  The loan will help them purchase chick peas, rice, cooking oil and spices... 05/04/2011

Yard Waste Recycling in Lethbridge, Alberta Well we haven't had a heck of a lot of snow free days, but as soon as they hit, you may be out in your yard.  Hopefully you own a compost, but the average homeowner typically can't compost all of their yard waste, with our short seasons.  The City of Lethbridge Yard Waste services has opened it's doors (starting April 1st).  They will take branches, up to 8cm in diameter, grass clippings, and garden waste. The location for drop off is: 700 Block of 3rd Avenue North and is open seven days a week from 7 a.m. to 7 p.m.. Branches collected and turned into mulch are available to residents on a first come first serve basis.   For more information call the Waste & Recycling Line at  403-329-7367. 04/04/2011

Cell Phone Numbers Distributed to Tele-Marketers In Canada, all cell phone numbers are being released to telemarketing companies this month and so, you may start to receive sales calls on your cell phone. You will be charged for these calls. To prevent this, go to the National DO NOT CALL list. In my opinion sales calls by telephone are a thing of the past.  Realtors in Alberta are instructed to be careful that any sales calls they make are not to registered numbers on the Do Not Call list. The fines can be hefty. 04/04/2011

Rainbow Realty - Lethbridge Real Estate Review "Recently we used Robert May of Rainbow Realty in Lethbridge Alberta to help up sell our home.  We found that Robert's advice really helped up achieve the maximum value for our property and to sell in the quickest amount of time possible.  Despite the market being slow, Robert sold our home quickly and without hassle or excuses.  We were thrilled with the results and we would recommend and encourage anyone else in Lethbridge to give him a call at 403.330.3039 if you are looking for a real estate agent who gets things done instead of makes excuses and wastes your money!  Highly recommended http://www.lethbridgerealestateblog.com "  J. Parsons     03/19/2011

Deposits Made When You Buy a Home In Albertan real estate a deposit must accompany an offer to purchase contract.  Sometimes realtors take it for granted that the clients know all about deposits, but this blog is for all of you out there that would appreciate a breakdown of how deposits work. In Lethbridge typically we see deposits ranging anywhere from $1000 up to 3%-5% of the purchase price.  A deposit helps good faith.  If you are the buyer, you are essentially saying: We are serious about this offer.  In some cases a substantial deposit can add weight to your offer which can be important when working with competing offers. Where does the money go?  Unless the real estate contract is altered, it states that it will be held in a trust fund by the Real Estate Brokerage representing the... 03/14/2011

Rotary - Urban Spirits Lethbridge Nearly 2 years ago Lethbridge launched a Rotary club called Urban Spirits.  I am including our Facebook link HERE!  Today is our first annual Urban Spirits Masquerade Ball.  We will be enjoying a four course New Orleans style dinner, cocktails, and live music while helping to raise funds for both local and international projects.n  There will be a grand prize of a trip anywhere in the world! Our club meets 5:00pm Mondays at Ric's Grill at 200 -103 Mayor Magrath Drive South.  For those of you not aware of Rotary I wanted to include a short description of it.  I really can't word it better than how it's put on the website, so here is a quote from the mission page: The Object of Rotary is to encourage and foster the ideal of service as a basis of worthy en... 03/12/2011

Combat Fuel Prices by Car Pooling Sure you may know friends, neighbours or family that lives nearby that you can car pool with, but what if you don't? Good news for Lethbridge residents! City of Lethbridge website announces: "The City of Lethbridge, in partnership with Carpool.ca, offers a free carpool matching service through www.carpool.ca.  All you have to do to find a potential carpool is to visit the website and register. The secure database provides a list of potential candidates for carpooling, based on destination, location, work hours and a variety of other factors.  Should you wish to explore carpooling options, you can then contact any of the potential matches provided. Carpooling can be flexible - you can carpool every day or once a week.  It's easy, and you make no commitme... 03/11/2011

I just read in a news release today at Lethbridge City Council, an award was presented to Mayor Dodic and City Council in recognition of the Parks Department's 2011 Consulting Engineers of Alberta -Award of Excellence in Community Development. "This is an exciting award for the City of Lethbridge," says Parks Manager David Ellis.  "We enjoyed engaging with Lethbridge residents in fun and innovative ways and we are confident the future park will be a welcome addition to the North side and reflect what people have asked for." Construction is set to begin as early as 2014. This is unfortuantely all the information I have as of yet.   03/07/2011

Here is your Weekly Bottom Line!   Highlights   United States •   President Obama released his new budget proposals on Monday.  The plan calls to cut $1.1 trillion from the deficit over ten years.  The budget does not, however, address rising entitlement costs. •   Inflation moved higher in January.  Energy prices lifted headline inflation to 1.6%, while the core rate rose to 1.0%.  Concerns over disinflation have now faded, but high unemployment and low wage pressures will keep a lid on core price growth in 2011. •   Despite a rise in the stock of foreclosures, mortgage delinquency rates fell in Q4 2010.  Rising sales combined with improved mortgage quality should bring the supply of foreclosures down a lot in 2011.   Canada •   Improved risk sentiment favoured Canadian stocks this wee... 02/19/2011

A Home Sold = Another Kiva Loan I recently had another closing and am thus able to start and continue another Kiva loan as I pledged to do towards the beginning of my career.  For those of you that aren't familiar with Kiva, it is a micro-finance organization that helps you loan to entrepreneurs in developing countries to help fight poverty.  I truly believe that helping others to help themselves is far more effective than just a one-time handout.  Congratulations to you - D.F. for your purchase of 11 Heritage Lane (as shown on the left). Your home purchase has helped fund my 175th Kiva Loan.  This particular loan is going to 55 year old Emelda from the Phillipines who is successfully running two business ventures.  The selling and buying of crab and shrimp as well as the selling and bu... 02/18/2011