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Lethbridge, AB Real Estate News

By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
  As a business that relies heavily upon marketing, I am always impressed when I see other local business people who demonstrate excellence at it.  Today in my email inbox I encountered the following coupon marketing a local restaurant called "The Guesthouse Restaurant".  When I first ate at that restaurant several years ago, I filled out a form for a customer loyalty card which entitled me to a discount on all future meals.  Now of course, like all of you, I am a member of about 100 such useless program, all of which I forget to particiapte in or have long since lost the card.   The Guesthouse Restaurant has an automated rewards system in place, that also appears to do some great online marketing with it.  About once a month I receive a newsletter that contains a little bit of news, hu...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
Lethbridge on the Simpsons The city of Lethbridge, Alberta was featured in a gag on the Simpsons. The Simpson family was watching a show called, “Hunch” and Lethbridge was the “filming location” for the City of New York.                   WooHoo, surely that impresses diehard fans of the show to get a mention.                 The complete episode imdb:  IMDB  The wiki on this episode which explains the Lethbridge reference:    Wiki entry         Here are a few of my favorite past articles from my Lethbridge real estate and mortgage blog you might have missed or wish to recommend them to a friend. Common Financial Problems - Avoid these financial mistakes Get Your Credit Score UP - Invaluable insight into your credit score 8 dollar a week raise? - Taxes are an obstacle to success Mortgag...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
Here are some lovely charts, graphs, and numbers that summarize the current marketplace across the provinces.  Of course, I am only really concerned about real estate and mortgage stats that affect Lethbridge real estate and mortgages, but it is sometimes advantageous to keep up to date on the big picture too.   Thanks for looking.  I receive a couple of contacts a week from people who say, "I found you on the internet" so I know someone must be reading this stuff, lol.   Have a great week.  And here are some numbers to keep you entertained:     Bank of Canada Interest Rate January 20, 2009 1.00% March 3, 2009 0.50% April 21, 2009 Next meeting date Source: Bank of Canada Bank Prime Lending Rate January 21, 2009 3.00% March 4, 2009 2.50% April 22, 2009 Next meeting date  Source: Bank of ...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
There are several important financial events coming in the immediate future that will give indication as to how Canada will weather the global economic crisis.  Should Canadian interests prove to be stronger, it will result in a great influx of investment into Canada.  However, should the results disappoint, it is expected that Canada will slide along with other countries who are in recession.   Here are some key events happening on Monday, although Tuesday's Band of Canada rate change will be more significant. Monday, March 2 Statistics Canada reports on the gross domestic product data for the fourth quarter, and December GDP by industry. Economists expect an annualized 3.5-per-cent drop in quarterly GDP, and a drop of 0.6 per cent in December. The U.S. Department of Commerce reports o...
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By Shaun Serafini, B.MGT
(Shaun Serafini - Mortgage Expert - All Source Mortgages )
If you happen to hold an unsecure line of credit with a Canadian financial institution, you may be receiving some troublesome news - payments and interest could be on the rise. This increase is not due to the Bank of Canada raising the Prime rate however. Several of the major financial institutions in Canada are concerned that their earnings may be affected by the historically low interest rates that exist in the marketplace at present and are taking it upon themselves to change things, by increasing their own rates. TD Canada Trust sent out a wave of letters to customers that hold personal credit lines last week. These letters informed customers that the fixed portion of their revolving credit line would be increasing. This means that even though a customer may have signed up for an un...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
  Today I had a meeting with a company called Altawest Mortgage.  They are a private mortgage company who lends money through mortgage brokers in Alberta and BC.  These private lenders are a great resource for borrowers and for investors.   Who needs a private lender?   People who cannot qualify to borrow money through traditional sources.  People with unclaimed or documented income, people with challenged credit, people who have ran into trouble.   Private lenders step up and provide loans to people who need them the most.   Of course, borrowing from private lenders comes at an extra cost to borrowers.  While a highly qualified buyer may be able to get money for 4 to 5 percent interest from an 'A' lender, a private lender will typically charge closer to 10% for a similar loan.  While t...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
Lethbridge Mortgage Broker Lethbridge Real Estate   According to a federal housing agency, MLS housing sales will be down about 10 per cent in the Medicine Hat area this year, the average housing price will dip by four per cent, and housing starts will decline by about 21 per cent. The good news, reported by Canada Mortgage and Housing Corporation (CMHC) Thursday in its quarterly Canadian housing market outlook, is that all three areas should start improving in 2010. Calgary-based CMHC market analyst Lai-Sing Louie said Thursday that although 2009 will be a slower year for all real estate transactions, it’s expected that economic stability will return in 2010 and increases will be seen. “We can’t pick an economic bottom point in 2009,” he told the News. “We know that we’ll be getting cl...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
Waiting for Better Fixed Rates The Bank of Canada’s next interest rate announcement is just two weeks away, and many mortgage shoppers are fixated on it. Lethbridge Mortgage Broker Lethbridge Real Estate We’ve probably spoken to a dozen people in the last week who want a fixed-rate mortgage but don’t want to apply until the Bank of Canada meets March 3.  The thinking is that the BoC announcement will cause fixed rates to fall. We’re used to seeing this psychology with variable-rate shoppers but not with fixed rates.  As such, it’s worth examining further the linkage between the Bank of Canada and fixed mortgage rates. As many know, the BoC sets Canada’s overnight target rate.  This in turn influences prime rate, which directly affects variable rates. Fixed rates are a different story.  ...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
  I often receive calls asking me exactly how much better mortgage rates can a good mortgage broker negotiate compared to what the big banks offer their customers.   Here are the rates as of today 2/18/09 from the Royal Bank's website: Term  ROYAL BANK Posted Rate             My Available Rate   1 Year 4.50%                                                       3.89%   2 Year 5.15%                                                       4.75% 3 Year 5.15%                                                       4.24% 4 Year 5.69%                                                       4.29%   5 Year 5.79%                                                       4.39%   7 Year 7.00%                                                       5.90%   10 Year 7.15%                                         ...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
There is a deal right now at Godaddy.com that you can buy a dot com domain name for only 99 cents.  This is only available by using a coupon code at the checkout, and only one per account.  Regular price to register a domain there is 7 or 8 bucks a year, so this is a pretty good savings and elminates any excuses one might have to go register a creative domain name.   From time to time between real estate and finance related posts, I like to share SEO, internet marketing, and money saving tips with my friends.  If you want to get in on some of these bargains, just subscribe to this blog.   THE COUPON CODE TO GET A 99 CENT GODADDY.COM DOMAIN IS:    LOVE99                 Here are a few of my favorite past articles from my Lethbridge real estate and mortgage blog you might have missed or w...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
Yesterday I received an email from a fellow AR member who was asking me for a good source for inbound links.   I have my website included in many directories online, many of which I manually submitted it to myself, but also many more that I paid to have my site submitted to.  Directories are like an online version of the yellow pages.  They are simply central websites that contain links to many other wesites by category.  At one time they were extremely significant in achieving top search engine placement.  While they are not as significant a factor anymore, they are still important and a cheap and simple way to increase your websites presence on the internet and search engine ranking. Directory submission is definitely something that you can do yourself, and there are lots of free dire...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
This is sort of a real estate related coupon, $25 off any $100 purchase between now and the 15th of February.  There are a few decent sales in the current flyer which when combined with the discount makes for some sweet deals.  If you are like me, and spend a couple hundred bucks ever month or two on projects around the house, this is a good deal.  Take advantage and buy yourself some closet organizers!  I think I will be buying the laundry room cupboards which are on sale.   Here is the coupon, just give it to the clerk to enter the upc manually, their coupons never scan properly.           Here are a few of my favorite past articles from my Lethbridge real estate and mortgage blog you might have missed or wish to recommend them to a friend. Common Financial Problems - Avoid these fina...
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By Liz Toles, Lethbridge Real Estate
(MyLethbridgeRealty.com)
The City of Lethbridge has implemented new standards for secondary suites effective January 1, 2009. This morning, myself and close to 100 other REALTORS® from the Lethbridge and District Association of REALTORS®, had the pleasure of listening to the City's Chief Fire Marshall, Mr. Ken Knox, as he explained some of the finer points of the new Bylaw and how changes will begin to take effect. We also heard from Alderman Tom Wickersham about how the city plans to help property owners come into compliance. Below are some of the key points of the information session: - The new Bylaw came into existence after the Provincial government's creation of a new Fire Code. It's main purpose is to encourage safe, affordable rental accommodations and to give fire officials some additional  power to enf...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
  Lethbridge Mortgage Broker Lethbridge Real Estate   For the past 25 years foreclosures and bank owned properties have been a rarity in Lethbridge.  Yes there has always been one or two that appear on the market, typically due to bankruptcy or judicial actions, but certainly no where near the number that one would expect in a city of this size nor near the levels seen back in the early 80's.  This situation is already starting to change and there has been a marked increase in the number of homes that are currently in arrears or in full blown foreclosure proceedings.  Many of these homeowners would be able to stop the proceedings and save their homes if they had the foresight to take action earlier.  However, what I have found is that by the time the homeowner realizes that they are in ...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
  2008 University of Lethbridge Donor Report Reflects Strong Culture of Giving The University of Lethbridge’s 2008 fundraising results show that a healthy $7 million was raised to support more than 200 separate areas on campus – from scholarships and bursaries to research projects and equipment purchases that will make a significant difference to students and researchers. “Despite challenging economic times that have had an impact globally, the U of L has had one of the best years ever, thanks to our generous contributors,” said President Bill Cade. “Our dedicated donors made this year such a success, and we are truly grateful.” “There is no doubt that as times get tough we need individuals and private businesses to show leadership and confidence through continued investment in our comm...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
This is a great community even and is sold out the past 3 years in a row.     The Lethbridge Hurricane's "Fourth Annual Celebrity Sports Dinner and Auction" will play host to former NHL Official and recent Hall of Fame inductee Ray Scapinello as the evening's keynote celebrity speaker. Ray Scapinello saw it all during his NHL career, As a linesman, 'Scampy' shared the ice with the likes of Bobby Orr, Wayne Gretzky, Mario Lemieux, Guy Lafleur, Phil Esposito and many more on a long list of hockey's all-time greats. Scapinello worked 2,508 regular-season and 426 playoff games, and 20 Stanley Cup finals, and never once missed work due to sickness or injury during his remarkable 33-year NHL career. His longevity and iron-man streak is all the more amazing when you consider he never wore a he...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
  Lethbridge Mortgage Broker Lethbridge Real Estate Certain markets across Canada have avoided much of the steep downturn experienced in the US.  However the majority of our markets have slipped by 10-20% over the highs experienced just a year ago.  There are a few small exceptions to this but they are few and far between.  We still have a surplus of spec build houses, investor owned flips that failed to sell, estate sales, and the odd bank repo.  The inventory of houses continues to grow each month as forced and motivated sellers enter the market and investors and motivated buyers are tougher to find.  Month by month the inventory grows and demand has slipped, taking prices lower with it.   Want to know when it will turn around?  Want to know when the best time to get back into the rea...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
Price it right! Thinking that you can start high and lower the price if it fails to sell in the first couple of days or weeks is a mentality held by ignorant homeowners. That may sound strong, but recognize that you have one chance to introduce your house to a potential buyer. Maybe that buyer seen and ad, stopped at an open house, or even seen the lawn sign go up. The potential buyer is interested and excited about your home, until they call and discover that you are optimistically overpriced. That buyer will not likely ever revisit the property, phone on it again, watch to see if the price moves down to a realistic level, etc. You have one chance, don't mess it up. Position yourself in the right price range. Buyers search by price range, such as between $200,000 and $225,000. Make su...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
Common Financial Problems:  How Financially Healthy Are You? Financial problems, like many medical problems are best detected early.  Here is the list of some widespread and most common personal financial problems: Not Planning. Human beings were born to put off things. And that is why we have deadlines – and deadline extensions. Unfortunately, you may have no precise deadline with your overall finances. You can allow your credit card debt to accumulate, or you can leave your savings sitting in lousy investments for years. You can pay high taxes, leave gaps in your retirement and insurance coverage, and overpay for financial products. Certainly, planning your finances is not as much fun as planning a vacation, but doing the former can help you take more of the latter. Overspending. The ...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
lethbridge mortgage broker lethbridge real estate   For many years, illegal and non-conforming basement suites have been the bane of many real estate transactions and mortgage applications.  The City of Lethbridge has tried to deal with the situation several times in the past few decades, at one time allowing suites that were in existence before 1969 to remain in their non-conforming condition and making exceptions onf suites which were constructed after 1969.   As 2008 drew to a close, a new fire code amendment required all existing basement suites to be improved to meet a minimum safety level including smoke and fire detectors, proper egress windows on all bedrooms, free access to exits from the suite, and containing all HVAC systems behind moderately fire retardant walls. To the bes...
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