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Lethbridge, AB Real Estate News

By Liz Toles, Lethbridge Real Estate
(MyLethbridgeRealty.com)
When looking for a new home, many buyers visit open houses to help them narrow down their options. REALTORS® in Lethbridge and the surrounding areas understand that this is how many people get their feet wet in the home purchase process and they do their very best to work with their sellers to open up their listings for viewings at times that are convenient to the general public. In the past, there have been very limited options on both advertising and finding scheduled open houses. There is now a new option for both REALTORS® to advertise and for the public to find open houses in Lethbridge, Coaldale, Coalhurst and the surrounding areas: www.LethbridgeOpenHouses.com Listings are posted by the members of the Lethbridge and District Association of REALTORS® and feature the details needed...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
Today I received an update from one of my primary lenders confirming that I am able to offer clients: 5 year term @ 3.69%   This is the lowest 5 year fixed rate that I have ever seen.  The cost of borrowing is now ridiculously low, despite the fact that the qualifying standards have become more strict.   As an example, $200,000 mortgage can now be had with a monthly payment as low as $845/month!   Now I don't know about your particular town or city, but in Lethbridge and most of southern Alberta a $200,000 home will typically have a monthly rent of $1200 or $1300 per month.   The cost of buying is waaaaaaayyyyyyyyy lower than the cost of renting the same type of home.   If you have been considering shopping for a home or a mortgage, lets talk about your options.  There are other factors...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
It has been several months now that I have had this blog up and running, and I just wanted to take a minute and reflect upon it. Initially, I started an Active Rain profile hoping that it would increase the profile and google rankings of my LethbridgeLoans.com website. I wrote a few articles about Lethbridge, about Real Estate in Lethbridge, Mortgages in Lethbridge, etc. I figured that it was important to have a mix of business, personal, and community content on the blog. My main website, apart from being a great tool for accepting online mortgage applications, is an online business card.   I have met and helped lots of families with their mortgage and real estate problems thanks to this website.   Recently, I started an outside blog, LethbridgeRealEstateBlog.com, to which I post most ...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
Genworth Financial Tightens Guidelines  Genworth Financial, Canada’s 2nd biggest mortgage default insurer, is reportedly making several key changes to its insurance offerings, effective April 18.  The changes will affect new borrowers with less than 20% equity/down-payment, who use a lender that insures with Genworth. Among other things, Genworth is reportedly: Shelving its high-ratio rental and Credit Assist programs. Lowering its maximum TDS guideline from 44% to 42% for all products Increasing credit score requirements for its Cash-Out Refinance program, from: 650 to 700  (for 90.01-95% applications) 600 to 660  (for 85.01-90% LTV applications) Imposing new credit score minimums for high-rise (4+ floors) condominiums of: 700  (for 90.01-95% applications) 660  (for 85.01-90% LTV appli...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
Amazing how a little warm weather can really heat the local real estate market in Lethbridge up.  This past week things have went crazy.  You would have a hard time convincing me that there is a recession going on out there.  My phone has been ringing off the hook with buyers, sellers, and people seeking financing.   The market inventory is getting picked over pretty good right now.  Anything that is a killer price or a phenomenal property is going to be gone.  I expect that the current surplus of listings will be back to normal levels very soon and that prices have reached the bottom.   Anyone who was hoping to time the bottom, it is here.  Prices may not bounce back up as fast as they slid down, but there certainly will be much less selection available this summer then there currently...
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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 directorie...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
The week ahead looks to be a good one for the local real estate market.  I have received contact from several clients who are seeking financing or are looking to buy or sell real estate in the immeditate future.  Perhaps this activity is due to the recent good weather, perhaps it is due to falling interest rates, or perhaps people are noticing that the inventory of available homes seems to be turning the corner. Whatever the reason, if you are interested in buying or selling, are in need of financing or refinancing, I would appreciate your business.  I look forward to working for you and with you to obtain the best possible deal to suit your situtation.  I look forward to talking to you.       Here are a few of my favorite past articles from my Lethbridge real estate and mortgage blog y...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
    Fishing for Suckers?  The Rate is the Bait As rates decline lower and lower over recent months, many lenders and banks want to be the first to market that they are fractions of a percent lower than their competition.  Also, since we as mortgage brokers have access to all of these low rates, there is a tendency to get sucked into the hype and to do the same.   This week there has been several lenders offering to further discount their rates from their already low level.  Yes you can get a 5 year fixed term rate in Canada for 3.85%.  In fact, there are several places you can get that rate as of today.  You can get that rate from any mortgage broker.  In fact, I know of a few who will even discount the rate further than that to get your business and offer you 5 years for UNDER 3.85%. ...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
Several years ago Ellen Roseman of the Toronto Star wrote an article about "The Smith Manouver".  Still to this day the book continues to be popular and clients ask questions about the effectiveness of the strategy.  Here is a bit of informaion about it.   Fraser Smith has written a bestselling book on personal finance by telling Canadians not to pay off their mortgages. He wants people to convert bad debt (a mortgage) to good debt (an investment loan) by swapping one for the other. By using something called a "readvanceable mortgage," you can get a tax deduction for the interest paid on a mortgage (which is generally not tax-deductible). The strategy to convert a negative to a positive is called the Smith Manoeuvre. Here's how it works: (1) Make your regular mortgage payments....
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
      WATCH your IDENTITY! Identity (ID) theft is serious. It occurs when someone steals your personal information to commit a crime. While you can't entirely control whether you will become a victim there are ways to minimize the risk. Guard Your Personal Information Never give personal information by phone, Internet or mail unless you initiate the contact. Be careful about sharing personal information and don't give out more than you need to. Shield your PIN, and never lend cards. Immediately report missing credit or debit cards. Carry only the ID you need. Put other ID documents (SIN, birth certificate, passport) in a safe place. Shred documents with personal information. SIN is only for employment and tax reporting. Ask about the security of your information at work, with businesses...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
Sometimes the various levels of Government in our contry actually publish information that is helpful.  Here is some such information relating to the sudden appearance of many new 'credit repair' businesses that have sprung up and are starting to market everywhere.   Consumers should read these important points:   "Buy now, pay later!"  This phrase has become a mantra for many who embrace the credit concept. But when the bill comes and you have no way of paying it, debt begins to spiral out of control.That’s when the "Fix bad credit... fast!"  line starts to look appealing. And it's everywhere these days – on television, in newspapers, and displayed prominently on public transit buses and trains.Desperate people are often disillusioned when a credit repairer promises to fix their credit...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
    The following post is commentary regarding a recent article in the Globe and Mail.  The sad thing is that when much of the public reads these things, they believe that the author has at least done an adequate amount of research or has some sort of knowledge of which they are writing.  In this case, as with many others, the author of the article did insufficient research, took many things out of context, failed to verify information, and basically attempted to gain impact by adding to the clutter of negative media attention facing the mortgage market.          A week ago the Globe & Mail ran it’s latest subprime “expose,” entitled “Canada's Dirty Subprime Secret, to which the Vancouver Sun replied Friday: “There is no secret subprime mortgage problem in Canada.” The Globe's story wa...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
Hot off the presses from Google Labs, well okay actually a couple of days late.  Here is the next great feature to enhance your gmail account.  I am a huge fan of gmail and have had an account since before they were publicly available.  They continue to improve and advance the features of the product, making it absolutely essential for me.  Plus, it integrates so well with the many other free google products, such as picasa.  Here is the latest from google labs:     New in Labs: Undo Send Thursday, March 19, 2009 3:39 PM Posted by Michael Leggett, User Experience DesignerSometimes I regret sending a message the morning after. Other times I send a message and then immediately notice a mistake. I forget to attach a file or email the birthday girl that I can't make her surprise party. I ca...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
A recent blog post I made consisted of a large list of popular links relating to various real estate oriented websites.  There is so much information available on the internet it is difficult to keep it all organized and within reach so that you can find something when you need it.  As a follow up post, here are some websites related to CREDIT, which once again every real estate and mortgage broker should have in their bookmarks as valuable resources for information and tools.   A true professional surrounds themselves with experts such as those available at the following websites.  Please feel free to bookmark this post as a handy way to keep all these link at hand, and make sure you also bookmark my previous post full of valuable reasl estate links. This list is provided courtesy of t...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
Here is a social experiment.  These guys in the financing business set out to try to give away money to ordinary citizens walking down a busy sidewalk in several English cities.  They tried so hard to give the money away they even wore sandwich boards saying it loud and clear!  Of the hundreds of people who walked by the guy giving away free money, only 28 took advantage of it.  AMAZING!   Are you too rich, proud, stupid, busy, embarassed, or skeptical to take free money?   Read the artical, at the end of it there is a test to see if you learned anything from reading it.  Lets see how you do.     Brits Fail To Cash In On Free £5 Notes • Just 28 people took free fivers in two busy crowded streets • And further research shows that half of all Brits claim they would ...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
1      Housingmaps.com Search for properties that are For Sale or For Rent throughout the country. You can also look for Rooms and Sublets to rent on this real estate property search site. 2      By Owner ™ Sell your own homeor buy from someone who is selling his or her own homeand increase your profit potential. 3      Trulia Search thousands of property listings and see their location on an interactive map. Search the listing information at your fingertips to analyze and compare. 4      Oodle.com “The search engine for the classifieds,” Find apartments for rent or a building to buy. Locate open houses, homes for sale, or rental property to purchase. 5      Bankforeclosurelist.com Find foreclosures for sale in your area or anywhere in the U.S. Get the information you need to purchase ...
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By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
In celebration of reaching an amazing (amazing for me):                                                   60,000  AR POINTS   I wanted to share this coupon with my friends here at AR.  Click on the Cow logo and you will receive:   1200 free print credits & 3 8"x8" photo books & other great photo gifts credits                Click the Cow!   As an added treat for those of you who are cheap like me, if you shoot me a message and ask for it, I have codes that give you:   800 MORE Free Prints 20 Free Ornaments 5 free 8x8 custom cover photo book (20 pages) 4 free jigsaw puzzle credits 40 Free Coasters 15 free 8x8 and 15 free 12x12 scrapbook page That is a boatload of free photo stuff, all freebies!   About My Blog While I try to focus upon real estate and mortgage related content, I attempt ...
Comments 2
By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
It has been several months now that I have had this blog up and running, and I just wanted to take a minute and reflect upon it.  Initially, I started an Active Rain profile hoping that it would increase the profile and google rankings of my LethbridgeLoans.com website.  I wrote a few articles about Lethbridge, about Lethbridge Real Estate, Lethbridge mortgage information, etc.  I figured that it was important to have a mix of business, personal, and community content on the blog.  My main website, apart from being a great tool for accepting online mortgage applications, is an online business card.   Recently, I started an outside blog, LethbridgeRealEstateBlog.com, to which I post most of my active rain content, especially the content that is relevant to Lethbridge Real Estate and Leth...
Comments 5
By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
  The following articles were recently released on the CP newswire and forwarded throught he mortgage industry news by a few key insiders, so I thought that I would share them with the public who may have missed them or wish to refer back to them in the near future.   Lethbridge Mortgage Broker Lethbridge Real Estate   Analysts advise choosing type of mortgage wisely Ross Marowits The Canadian Press Mar 09, 2009 MONTREAL Bargain basement borrowing costs are prompting many Canadians to opt for fixed mortgages even though variable products continue to be a money-winning option for the foreseeable future, industry observers say. Canadian Imperial Bank of Commerce's chief economist says variable rate mortgages should produce the greater benefit for the next two to 2.5 years, but be a wash o...
Comments 0
By Robert Havana, Alberta Real Estate License Parking
(Park and Protect- Alberta Real Estate License Parking)
  According to the following article, the time to buy is now!  With spring approaching, interest rates low, and a great inventory of motivated sellers, now is a perfect time to contact a mortgage and real estate professional and explore your options. Lethbridge Mortgage Broker Lethbridge Real Estate   Single women are keen to buy and now is the perfect time, survey says Helen Morris, National Post  Published: Thursday, March 05, 2009 Among single, independent female purchasers, 35% said one of the best aspects of home ownership is having a yard or garden to enjoy.   As home prices and some mortgage rates continued to fall this week, a survey showed almost two-thirds of Canadians think it's a homebuyer's market out there. According to the 16th Annual RBC Homeownership Survey, 27% of resp...
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