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Michelle Derk

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Are you financially ready?

January 23rd, 2013 by michellederk@live.ca

I just Love this page on the CMHC web site it really help you to know “Are you financially ready” to owning a home it breaks it down from your current Household Expenses to your Monthly Debt Payments.

You then add it all up and head down to  How Much Can You Afford and the affordability rules are FANTASTIC I love Rule 1; monthly housing costs shouldn’t be more than 32% of your gross monthly income. Housing costs include your monthly mortgage payments (principal and interest), property taxes and heating expenses. This is known as PITH for short — Principal, Interest, Taxes and Heating.

 

I Really want eveyone to read this i think it is super important to know how much it RELLY costs to own a home bill,maintance and what overall life style you want to live no wantes to be a slave to home paymenall play a part

 

Click on the link below a MUST READ!

 

http://www.cmhc.ca/en/co/buho/hostst/hostst_002.cfm

Rekey all the locks in the house you just bought

January 23rd, 2013 by michellederk@live.ca

Buying a home is an exciting venture, but there can often be security risks attached to the purchase. I’m referring to those risks that are inherited – either from the builder or the previous homeowner.
Keys are a perfect example. It’s exciting to receive the keys to a new home, but you need to ask yourself whether they’re the only keys to the house.
Did the previous homeowner loan keys to caregivers, family members, neighbours or cleaning companies that may not have been returned?
This is why you need to rekey all the locks in your new home.
Rekeying should not be confused with replacing a lock. You don’t need to replace the locks in your new home to lock out the previous key. A locksmith simply disassembles the lock cylinder – the area that accepts the key – discards the old pins, and replaces them with ones that fit your new key. This is not an expensive procedure, and it usually only takes a few minutes to change several locks.

New certification program ‘a win-win’

January 23rd, 2013 by michellederk@live.ca

If you’re in the market for a pre-owned home or thinking of selling your home, you might want to look more closely at the certified pre-owned  home program.

The concept is brand new to Edmonton, one of only two cities in Western  Canada (Kelowna being the other) offering the program. Modelled after  the certified pre-owned vehicle program that has been around for some  time, the pre-owned home program has advantages for both the buyer and  the seller.

It involves an inspection by a qualified home inspector, at the seller’s expense before the home goes on the market. The seller must complete  any repairs, the house is then re-inspected and is listed as “Certified Pre-Owned.” Potential buyers receive a summary of the inspection so they know what corrections were made.

The other component to the program is a one-year home warranty provided  to the buyer. The home warranty is paid for by the seller and offers  structural coverage for the roof, siding and foundation, as well as home appliances and home systems such as interior plumbing and electrical,  hot water heater, ductwork and central heating.

The home warranty insurance is different from homeowner’s insurance, which covers damage to the home due to fire, flood or lightning and is the buyer’s responsibility.The total cost to have your home listed as certified pre-owned is around $800, including the home inspection and the home warranty insurance

$12M Ghost Lake Manor, Alberta

January 23rd, 2013 by michellederk@live.ca

Check out this home located right here in Alberta:

Defined by its exquisite craftsmanship and impeccable taste and detail, this home features more than 13,000sqft., five bedrooms, nine baths, a two-storey library and 18-seat movie theatre. The indoor pool/hot tub area features a glass roof. The gated entrance leads you down a paved circular driveway to the tennis court, picket fenced garden area, playground, island pond with cascading waterfall and bridge that leads to a private island w/covered sitting area. The property consists of 117 acres with unobstructed views of the mountains.

See all the photos at the lin below thank you to the Edmonton journal for sharing!

 

http://www.househunting.ca/edmonton/buying-homes/Gallery+Ghost+Lake+Manor+Alberta/7833063/story.html

REALTORS® Association 2013 Housing Forecast

January 23rd, 2013 by michellederk@live.ca

The REALTORS® Association of Edmonton released their annual housing forecast today at a seminar at the Northlands Expo Centre attended by 700 REALTORS® and business people. President Darrell Cook forecast that the value of MLS® sales in 2013 will increase by about 3% for the year after sales of $7 billion in 2012. This is based on a three percent increase in the number of homes sold and increased prices. Cook expects that single family homes, duplexes and rowhouses will increase on average by 2% while the average price for condos will increase by one percent next year.

“We are positioned in the best economy in Canada and perhaps the world,” said Cook. “It is hard to make a restrained forecast when we have job growth, in-migration, low vacancy rates and continuing low interest rates.”

His remarks echoed the predictions of five other speakers at the seminar including Premier Alison Redford who highlighted the value of the housing industry to the Alberta economy. Also presenting at the event were John Rose, Chief Economist for the City of Edmonton; Angus Watt from National Bank of Canada; Brad Ferguson, the President and CEO of Edmonton Economic Development Corporation; and David Lan, Senior Market Analyst from CMHC.

Cook forecast that the year-long average selling price for a single family home, sold through the Multiple Listing Service® in 2013 will increase from $382 thousand to $390 thousand. The average price for a condominium property will increase from $235,500 to $237,800. Although the inventory of available housing is low at this time of year, Cook suggested that increasing prices in the first six months will convince owners to begin listing their property and increased choice for buyers will result.

Cook suggested that, because of our solid economy, the strong interest in acreage properties will continue in 2013 and sales of recreational and vacant properties will also increase as the prices of properties in sun-belt destinations recover and local recreational properties become more comparable in price.

Commercial and industrial sales through the MLS® were up 25% in 2012 and REALTORS® expect the trend to continue next year with an increase in total value from $310 million to $320 million. There will be demand for small office/warehouse lease properties as our strong economy spawns new and expanding businesses.

The role of the REALTOR® has been much discussed in the past two years. Cook urged the members of the REALTORS® Association of Edmonton to focus on client service, education and satisfaction and to continue to demonstrate the value that the REALTOR® has brought to the community and the real estate transaction for the past 85 years.

Moderation—not correction—on tap for Canadian housing markets in 2013, says RE/MAX

December 6th, 2012 by michellederk@live.ca

http://www.remax-western.ca/news/remax-housing-market-outlook-2013

WAM: Katz announces downtown builder

February 22nd, 2012 by michellederk@live.ca
SEE MORE PHOTOS Image Preliminary interior concept sketches for possible new Edmonton arena. (SUPPLIED)

The Katz Group introduced the real estate powerhouse expected to do the heavy lifting on development around the proposed Oilers arena.

The announcement made Friday morning follows on the heels of the sale earlier this week a big chunk of Daryl Katz’s pharmacy business to a U.S. firm for just under $1 billion. He promised at the time to accelerate real estate projects.

Edmonton-based WAM Development Group (WAM) will help them develop the lands surrounding the proposed site of Edmonton’s new downtown arena at 101 St. and 104 St., immediately north of 104 Ave.

WAM will acquire a minority equity position in the properties the Katz Group currently owns and has rights to acquire around the arena. WAM will also help with the master plan, engaging architects, construction firms and other professionals, assessing economic viability and coordinating financing.

The company will manage construction, leasing and managing retail and commercial space.

The goal, said Katz Group VP John Karvellas, will be a walkable and vibrant city core.

The land surrounds the site of the planned new city-owned arena; Katz’s Oilers NHL team will be the primary tenant for the arena.

“We see great potential in developing the lands around the arena. We are extremely proud to be involved with this project and look forward to working with the Katz Group, the City and other stakeholders to create a world-class urban community in downtown Edmonton,” said Darren Durstling, a partner with WAM Development Group.

The Katz Group selected WAM following a review and evaluation of several different real estate development organizations. Financial terms of the arrangement will not be disclosed, the press release said.

WAM will not be involved in the development by the Katz Group and the City of Edmonton of the arena itself, nor the operation of the arena once it is completed, the release said.

 

The First Place Home Ownership Program

February 21st, 2012 by michellederk@live.ca

The First Place Home Ownership Program (formerly know as the First Time Home Buyer Program)  is an innovative City of Edmonton program that offers deferred land payments and reduced CMHC mortgage insurance rates. This offers first-time home buyers looking for entry level housing a financing option that puts purchasing a home within reach.

The First Place Program initiative was introduced on a “pilot basis” in 2006 in the communities of Canon Ridge and Greenview. All units in these two communities have been sold. 

PILOT SITES EVALUATION

An independent evaluation of the processes and success of the pilot projects in Canon Ridge and Greenview Village was conducted by an external consulting firm and the results were presented to City Council’s Executive Committee in July 2011.  Among their many recommendations, their report recommended the City’s Administration consult with the Canadian Home Builders Association regarding the process and criteria used to select new home builders to ensure fair and competitive opportunity for all builders.  Consultation with the Canadian Home Builders Association took place throughout the Fall 2011 to develop both process and criteria to select new home builders. 

A Request for Qualifications was issued by the City and closed in the first week of January 2012.  The City has reviewed builder submissions and has determined the builders who will now be interviewed by City representatives.  Builder interviews will occur in February and will result in the selection of home builders who will construct homes for the First Place Program. Phase 1 will commence this year in the communities of  Tawa, Caernarvon, Casselman, and Skyrattler.   Development of the remaining 14 sites will occur in additional phases over the next ten years.  See Chart

Housing Opportunities

The City of Edmonton is helping to provide new housing opportunities:

 

To assist first-time homebuyers with the costs associated with the purchase of a home, the Government of Canada introduced a FTHB Tax Credit in 2009 — a $5,000 non-refundable income tax credit amount on a qualifying home acquired after January 27, 2009. For an eligible individual, the credit will provide up to $750 in federal tax relief starting in 2009.

Updates & Feedback

We Have Answers

Keep up to date on new sites and community feedback.

Who Is Eligible

Do You Qualify?

Interested in eligibility information for the program find out more here.

 

As of June 2011, there is $23.3 billion in capital projects underway, planned or completed in the Edmonton region. (Source: Province of Alberta, Finance and Enterprise)

For more information:

First Place Homes

Telephone 780-496-HOME (4663) or call 311 in Edmonton
Fax 780-495-9916
Email firstplace@edmonton.ca

Tucked away in Le Marchand Mansion — a little taste of France

February 21st, 2012 by michellederk@live.ca

First, a caveat: It is almost impossible to say anything bad about a dinner where you and your partner, the only patrons in an attractive, romantic restaurant, are served by the charming owner who flambés a good part of your meal tableside, right before your eyes.

While I’d like to wish this lovely, personal experience on other diners it would probably be best for Sam Betraki if he had a few more customers to attend to. Betraki opened Café du France mere weeks ago in the beautiful, 99-year-old Le Marchand Mansion, taking over the space most recently occupied by Tazza Mediterranean Bistro.

On the recent Saturday night we visited, the pretty little café was completely empty at 7 p.m., and remained so until we left more than two hours later, literally shutting the place down, armed with a loaf of fresh baked bread which Betraki insisted we take home.

The experience of eating at Café du France was very much like eating in the home of a friend who likes to cook, and does it well. The food, an unusual mix of Mediterranean and French specialties, was, overall, nicely presented and exceptionally tasty, but in the way of really good home cooking, as opposed to exotic fine dining.

Let it be said, too, that Sam walks that fine line between friendly and too friendly quite well, staying long enough to cook, serve and inform, but not so long for us to wish for some sort of flambé emergency that would pull him away.

Given the setting, we tried to maintain a French flavour to our experience, opting to start with the traditional French onion soup ($7.95), a well-executed version of the classic dish — a piping hot, flavourful broth rich with caramelized onions, topped with thin slices of bread and just the right amount of broiled cheese. The seafood chowder, perhaps because it’s neither French nor Mediterranean, was less successful. It seemed a little bland and insubstantial.

Again in the French vein, the pate ($7.95) was on the mark, served alongside some thin slices of buttery, lightly toasted bread.

Our one Mediterranean indulgence, the fattouche salad, was among the hits of the evening. It was a delicious, wonderfully balanced rendition of the traditional, Middle Eastern mix of lettuce, cucumber, tomato, radish, cilantro, parsley, sumac and other spices, dressed in lemon and olive oil, enlivened by delicate pieces of crisp pita and, surprisingly, pomegranate seeds. Betraki’s trick is to deep fry the flatbread, he says, making it somewhat less healthy, but certainly more yummy.

The mains are a bit of a jumble, quite honestly, running the gamut from filet mignon at $22.50 and “terre et mer” (surf and turf of shrimp and steak) for $19.95, to eggplant parmigiana ($19.95) and Mediterranean pasta ($17.95). Betraki says it’s all essentially a compendium of the foods he likes to eat.

But the menu became secondary when we discovered Saturday is “flambé night” at Cafe du France. Never ones to refuse fireworks, we ordered the Steak Diane — filet mignon sautéed in a buttery brown sauce with mushrooms, then doused in brandy and set alight, all on a gas burner brought on a cart to our table.

The meat was tender and cooked the way we asked, but the sauce would have been better served by a meatier mushroom instead of feathery enokis, which got lost in the rich sauce. For $30, it came with roasted potatoes and a good mix of sautéed vegetables in a portion so large it could have easily served two.

Pyromaniacs take note: Sam will also flambé pepper steak or Chateaubriand for two on Saturday nights. He also reports he’s had some success with his pasta special on Tuesdays and Wednesdays — pasta for two plus a bottle of wine for $30.

We felt obliged to try something from the regular menu as well, choosing the Coquilles St. Jacques ($21.95), a mix of plump scallops and shrimp in a simple, light, white wine sauce served with rice.

The wine selection seemed limited, perhaps due to the newness of the place, but when we asked about white wine Betraki brought a couple of bottles to our table to sample and we chose a serviceable one for $30.

Flambé night would not be complete without some sort of flaming dessert to end the evening, with Cherries Jubilee, Crepes Suzette and pears flambé on offer. We chose the pears, which were first sautéed in butter, brown sugar and lemon juice, then set ablaze with brandy, Grand Marnier and a touch of raspberry liqueur. The sweet, warm, wonderful concoction was then poured over vanilla ice cream. Our second dessert was almost as fabulous — a slice of “sizzling” chocolate pecan pie with caramel sauce, baked in a tiny cast-iron skillet until caramelized into a crun-chewy, sugary, delicious mess. The whole thing was topped with vanilla ice cream and a drizzle of chocolate sauce.

The café also serves lunch, both in its main restaurant and from a takeout counter at the front. It sounds like it’s drawing a decent crowd from the surrounding businesses and condos, at least during the week. But it would be nice if Betraki and his portable flambé cart were a little less lonely on Saturday nights.

 

Cafe du France

11523 100th Ave. (Le Marchand Mansion)

780-447-2690

Dinner for two, without wine: About $85

Is fake grass the lawn of the future?

February 21st, 2012 by michellederk@live.ca

 

It’s environmentally friendly, requires no mowing or fertilizing, and all you have to do is hose it down when it’s dirty. But are you ready to give up the smell of freshly cut grass for synthetic turf?

Like many proud homeowners, John Chen doesn’t need much prodding to brag about his lawn. The Seattle business owner will wax poetic about its perfect shade of green, its flawless uniformity and the way it neatly frames the flagstones leading to his front door. In the summer, Chen likes to pad around the yard barefoot, watching his three children dash through the grass and hurl themselves down the family Slip ’N Slide. But Chen’s favorite thing about the lawn? It’s made of plastic.

In a tiny but growing number of patches in suburbia, low-maintenance yard mavens are rolling out a high-tech version of the stuff that used to adorn concrete balconies — and are calling it their lawn. Don’t laugh. The makers of the grass — who go by such monikers as Perfect Turf and ForeverLawn — say artificial lawns are one of the few landscaping businesses that have turned out to be recession-proof. Neighbors may be puzzled by the sight, but makers say they’ve been hard at work on the fake fuzz, developing new grasses with multicolor blades and even extra padding for tush-friendly picnicking. “We want to replicate grass and then some,” says George Neagle, vice president of sales and marketing for industry bigwig SynLawn.

Certainly, both the economy and environmental issues work in faux grass’s favor. Though far more expensive than real grass to buy and install — it can cost up to three times as much as natural turf, or roughly $6,000 to $8,000 for a typical lawn — the lifetime savings add up. After all, the lawns require no seeding, fertilizing or trimming; homeowners do little more than hose down the grass when it’s dirty and occasionally break out a rake to fluff up any matted patches. The industry also plays up its environmental benefits, including fewer pollution-spewing mowers, a reduction in harsh chemicals such as fertilizer or insecticide and, most important, less water use. In drought-prone regions, municipalities like Los Angeles County have even provided tax rebates for residents who remove areas of natural lawn.

Many people still find ersatz grass about as appealing as covering their yard in Velcro. Indeed, critics say that despite industry advancements, plastic lawns haven’t completely lost their stubby, neon-hued look. In some areas, the stuff is so controversial that towns have banned it and neighborhood associations have fined homeowners who refuse to remove it. And artificial lawns still have a few rough patches; just ask pet owners, many of whom report that the turf makes their animals’ waste especially, well, fragrant.

So is faux grass the lawn of the future — or a glorified plastic carpet?

 

Michelle Derk, RE/MAX ELITE
7815 - 101 Avenue, Edmonton, Alberta, T6A 0K1
Tel: 780.406.4000 Cell: 780-902-1668 Fax: 780.406.8787
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