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What is the Best Mortgage Rate?

March 23rd, 2017 by remax-realestate-stonyplain

If you call a mortgage advisor and the first thing they do is quote you an interest rate, you may have picked the wrong mortgage advisor. A professional would not quote a rate without know your individual situation. This should come as a warning to home buyers.
When a mortgage advisor quotes a rate to a client without knowing all of the circumstances, they are doing them a disservice. An expert will take the time to ask questions and learn more about the person’s situation. They can then recommend a mortgage product relevant to a person’s future plans, risk tolerance and growing needs.
The high interest rate you pay on a mortgage product will depend on a number of factors. The three key factors are length of the term, open or closed mortgage and fixed or variable product. You need to choose a term that works with your future plans. Typically longer terms have higher rates, but offer longer payment security. Lower terms usually offer lower rates, but need to be re-negotiated sooner. When you select an open mortgage you can pay off the balance with no penalties, but you will pay a higher interest rate for this feature. A closed mortgage will offer a lower rate because you are committed to the bank and cannot pay off the mortgage without paying penalties. The last key factor is choosing a variable or fixed rate product. Variable rates fluctuate with the bank’s prime rate and need to be managed by the client. A fixed rate will always stay the same during the term, giving you more payment security.
The interest rate is not the only thing to consider when it comes to finding the right mortgage product for you. You will also need to be aware of the mortgage features, as well as mortgage terms and conditions that could become costly down the road. Rates are just one part of the total borrowing cost. Other costs to consider are fees, penalty calculations, prepayment restrictions, completely closed terms and portability restrictions. The lowest advertised interest rate may not be the best option if there are extra costs involved. It is very important to ask your mortgage advisor about additional fees such as appraisal fees, underwriting fees, broker fees, additional closing costs and increased lawyer fees. These extra costs can significantly drive up the overall cost of a mortgage.
Mortgage services should go beyond rates. A mortgage specialist should bring value with the brand they carry, experience in the mortgage business and most important, they need to be reputable and trustworthy. Choose someone you can trust and has the knowledge to recommend solutions based on your individual needs. We understand how important interest rates are, but rates aren’t everything – flexibility and service matter as well.

 

Article by Rodney Biggar, Mortgage Specialist

Consumer Relationships with Real Estate Professionals

March 21st, 2017 by remax-realestate-stonyplain

Buying or selling a property is probably one of the most important financial REMAX_Master_Balloondecisions you’ll make. This explains the different relationships you can have with a real estate professional. Each has its own legal meaning and responsibilities, so it’s important to understand them.

 

There are three kinds of relationships you can have a real estate professional.

 

  1. A real estate brokerage can act as your agent. This is called common law agency relationship and it includes all brokerage real estate professionals and staff.
  2. An individual real estate professional can act as your agent. This is called a designated agency relationship.
  3. You can be the customer of a real estate professional.

 

An agent is someone who acts on your behalf with your permission. If the agent is an individual, the agency relationship is between the individual and you. If the agent is a brokerage, the agency relationship is between the brokerage and you. When you appoint an agent, you’ll be asked to sign a written agreement that explains both the agent’s responsibilities and yours. In agency relationships, you are the client of a real estate professional.

 

thBAL91WJ6A sole agent acts for either the buyer or the seller (the client) in a trade or possible trade, and has a duty to protect that client’s interests. In this relationship, the real estate professional has the highest level of legal responsibility to you. These responsibilities include:

  1. Undivided loyalty The agent must act only in your best interests and put them above their own and those of other people. The agent must avoid conflicts of interest and must protect your negotiating position at all times.
  2. Confidentiality The agent must keep information confidential, even after your relationship ends. Confidential information includes your personal information, information about the property, and information about the transaction (except information the law says must be disclosed or information you agree to disclose).
  3. Full disclosure The agent must tell you, in writing, about the services they will provide. They must also tell you everything they know that might affect your relationship or influence your decision in a transaction, even if they don’t think it’s important. This includes any conflicts of interest, for example when they act (or are planning to act) on behalf of any other person in a transaction. The only information they can’t give you is confidential information from another agency relationship.
  4. Obedience The agent must obey all your lawful, reasonable, and ordinary instructions. If you insist on something unlawful, the agent must refuse and consider ending your relationship and the agreement.
  5. Reasonable care and skill The agent must exercise reasonable care and skill in all their duties. They must meet the standard of a reasonable and competent member of the real estate industry.
  6. Full accounting The agent must account for all money and property they receive while acting on your behalf. Everything a client puts in the care of an agent—for example, money, keys, or documents—is returned when the agreement ends.

 

What is a customer relationship?thWPQZ992I

You can choose to represent yourself in a purchase or sale when a real estate professional represents the other party. In this case, you have a customer relationship with the real estate professional. They can’t give you the services they give when acting as your agent, but they can help make the purchase or sale happen. For example, they may agree to give you statistics or the names of appraisers, mortgage brokers, or other service providers. They may also help you complete standard forms. When a real estate professional works with you as a customer, they have a responsibility to act honestly, use reasonable care and skill, and make sure any information they give is correct.

Lee Smithson Presents: New Listing March 20/17

March 21st, 2017 by remax-realestate-stonyplain

224968287

HORSE LOVERS LOOK HERE!!! This 12 acre home is less than 5 minutes to Spruce Grove and is set up for HORSES! Barn, 3 Horse Shelters, 60′ round pen, gates, panels AND an automatic waterer are included. Fenced & crossed fenced! Quietly located at the end of a cul-de-sac! Lot is bordered with spruce trees making the home private! The home and is open and spacious! New Shingles 2yrs ago, Septic Tank & Field approx. 6yrs old, Many new windows, very neat and tidy.

 

You can find the link at realtor.ca below!

 

https://www.realtor.ca/Residential/Single-Family/17921314/8-52225-Rge-Rd-273-Rural-Parkland-County-Alberta-T7X3R6-Happy-Acres

Darcy Torhjelm Presents: New Listing March 20/17

March 21st, 2017 by remax-realestate-stonyplain

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This private 4 acre setting with plenty of trees and Wildlife is close to Spruce Grove and Stony Plain. Easy access to St Albert as well. this 2 story home has plenty of space inside and out. Large Master Bedroom with a large ensuite. Lots of balcony and sitting area to enjoy for those Summer months as well as a screened in deck for the fall and cooler evenings. Office space upstairs, Formal Dinning Room, Living Room ,Family Room and then the basement has space as well. Enjoy the heated pool in the backyard and plenty of space to let kids play. The Shop in the back allows for plenty of toys and workshop. This home has plenty to offer.

 

You can find the link at realtor.ca below!

 

https://www.realtor.ca/Residential/Single-Family/17921307/4-54019-RGE-RD-275-RD-Rural-Parkland-County-Alberta-T7X3S5-Central-Heights

Brian Ray Presents: New Listing March 13/17

March 21st, 2017 by remax-realestate-stonyplain

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This very affordable split level home is located in a quiet cul de sac in a good neighborhood in Devon. It offers a nice floorplan with large open living room with patio doors to deck, dinette featuring a window and a kitchen with lots of oak cabinets. On the upper level there are 3 bedrooms and a four piece bathroom. The lower level includes a recreation room with a wet bar, laundry room, 2 pc bath (with roughed in shower drain) and a storage area. The large crawl space offers lots of additional storage. The yard is fenced and backs onto a Town walking trail. Recent upgrades include fresh paint, newer led lights and 3 yr old hot water tank. 1 yr old dishwasher, 2 yr old and washer & dryer. Close to Hospital and Catholic School.

 

You can find the link at realtor.ca below!

 

https://www.realtor.ca/Residential/Single-Family/17917189/68-Pipestone-CR-Devon-Alberta-T9G1T7-Devon

Darcy Torhjelm Presents: New Listing March 14/17

March 17th, 2017 by remax-realestate-stonyplain

224967726

 

This great 2 story home is well maintained and shows the love and care that has this home in great condition. Located close to Amenities such as Schools, Parks, New Retail Area and so much more this great home will impress. 3 Bedrooms up and 1 more down with a fully finished basement allow for space for everyone in this first time home buyers, downsizing or great revenue property. 20 x 20 garage with back alley access has room for additional parking on the pad if needed. Stainless steel appliances, upgraded Window Coverings and so much more make this inviting home a great purchase.

 

You can find the link at realtor.ca below!

 

https://www.realtor.ca/Residential/Single-Family/17906287/10-Vivian-WY-Spruce-Grove-Alberta-T7X0G9-Spruce-Village

Lee Smithson Presents: New Listing March 13/17

March 17th, 2017 by remax-realestate-stonyplain

224967685

 

150 Acres cultivated level land with #2 soil (no stones) on this home quarter with another quarter available for someone wanting to do real farming! This homestead is extremely well cared for property has so many appealing qualities/upgrades to both the home & outbuildings! Lets start with the completely renovated home, solid ash cupboards, new bathrooms, cedar enclosed Hot Tub room w/Hot Tub, Carpets, appliances, in-floor heating (main bath, hot tub room & basement), huge mud room, hardwood just to name just a few! 26×26 attached oversize garage! The home and outbuildings have new metal roofs!! The yard has a 40×64 Quonset, Shop (heated & concrete floor), 42×60 New unheated shop, 30×40 Barn with tack/birthing room (concrete floor), 40×60 machine shed! Everything is as neat as a pin!

 

You can find the link at realtor.ca below!

 

https://www.realtor.ca/Residential/Single-Family/17906330/1218-Twp-Rd-512-Rural-Parkland-County-Alberta-T7Y2N7-None

Dave Ryan & John Ryan Present: New Listing March 13/17

March 17th, 2017 by remax-realestate-stonyplain

224967381

 

NO REAR NEIGHBOURS! That’s right… you get loads of privacy in this beautiful 2-storey home in Edmonton’s Windermere subdivision. Behind this great home you’ll find a serene greenspace with trees, a pond and a park! Inside you’ll find almost 2600 square feet of wonderfully designed living space! Main floor features a large living room with gas fireplace and huge windows. Big kitchen with granite countertops and stainless steel appliances. Dining room features a custom coffered ceiling! Move upstairs to the jaw-dropping master suite. This 5pc ensuite is everything you could dream with his and hers sinks, large shower and highlighted jacuzzi tub! Room for a king size bed and a large walk in closet as well. The other 2 bedrooms are great for kids or guests. The bonus room has big windows and loads of space for entertaining! This back deck is amazing! Custom designed and built with BBQ area and large hot tub! Close to transit and all the great shopping Windermere has to offer!

 

You can find the link at realtor.ca below!

 

https://www.realtor.ca/Residential/Single-Family/17897607/17126-6B-AV-SW-Edmonton-Alberta-T6W0M2-Windermere

 

 

Lawrence LeMesurier & Ben Jespersen Present: New Listing March 13/17

March 17th, 2017 by remax-realestate-stonyplain

224967364

 

Great half duplex home, with nearly 1,450 sf., with 3 bedrooms up and a BONUS ROOM. You will love the kitchen with pot lighting, corner pantry and eating bar. The appliances are all stainless steel. The living room has a south exposure and a nice gas fireplace. Upstairs there are 3 spacious bedrooms, the master with a walk in closet and 4 piece ensuite. The home also has central air conditioning and high efficiency furnace and air exchanger. The basement is framed, dry-walled and painted, along with a 4 piece bath that has been started, all awaiting for your finishing touches. Great starter home with south facing back yard with no building directly behind and a nice private fenced yard with deck. Walking distance to major shopping, Tri Leisure centre, Grove walking paths, and bus route to NAIT, Grant MacEwan, and the U of A.

You can find the link at realtor.ca below!

 

https://www.realtor.ca/Residential/Single-Family/17897594/61-MEADOWVIEW-CO-Spruce-Grove-Alberta-T7X0N2-McLaughlinSPGR

 

Brian Ray Presents: New Listing March 8/17

March 17th, 2017 by remax-realestate-stonyplain

224967219

This 2 bedroom plus den (or 3rd bedroom) has a nice open concept and many upgrades. The kitchen has nice Ikea cabinets and quartz counter tops which were done in 2012. The furnace with electronic air filter were replaced in 2012. Vinyl windows and siding were upgraded in 2010. The home has central air conditioning. The large deck is ideal for enjoying summer days. The double detached garage is off the back alley and the large back yard is fully fenced. Very well located close to school bus transfer station, waling distance to a middle school and steps to walking trails.

 

You can find the link at realtor.ca below!

 

https://www.realtor.ca/Residential/Single-Family/17894831/154-Greenwood-DR-S-Spruce-Grove-Alberta-T7X1Y6-Grove-Meadows

The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the REALTORS® Association of Edmonton. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.
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