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Looking for a newer home but don`t want the added work and expense of finishing the basement and landscaping? Voila! this fully developed Greer built , 4 bed, 2 bath, home features a modern dark oak kitchen, generous bedroom sizes, a big family room down, 8×10 deck at back, plus a covered front veranda and a 20×22 parking pad off the paved alley. Your new home awaits!

For more details and photos, visit Lethbridge Real Estate!

Lethbridge Real Estate ~ This 2 + 1 up/down suite is ready to make you some money! Located less than a block to the Chinook Regional Hospital, it comes with 4 appliances plus a coin-operated washer and dryer, a single detached garage (currently leased) and additional off street parking for 5 vehicles.

For more details and photos, visit Lethbridge Real Estate!

Relocation is one of the niches of real estate that I find most challenging… and most rewarding. Finding the perfect home for a family relocating to Lethbridge, Alberta from elsewhere in the province, across the country or even across the pond, isn’t the hard part. There is a good selection of homes currently for sale in Lethbridge and the surrounding areas and I am very familiar with what is available.

The hard part is that relocation is personal. Families making a big move are not only looking for a great house, they are also looking for a great place to call home and they are trusting my judgment (many times, implicitly) to help them make their decisions.

In order to give the best service possible, I really need to get to know the people involved (usually from a distance). I want to get a good feel for your lifestyle, your interests, your background, your careers, your kids, your pets… the list goes on.

So what criteria is most important? Here are some questions to consider:

Are schools most important? Will you enroll your kids in public or private school? Do you want to be within walking distance? Would you prefer to be in a smaller community where class sizes are typically smaller?

Is lifestyle most important? Are you a frequent  walker who would appreciate a location near one of our many parks or lakes in Lethbridge? Do you want to be near shopping? Do you want to be active in a community where you can volunteer your time, get to know the neighbors and be accepted? Or would you rather keep to yourself and enjoy your privacy?

Are pets most important? If you are looking at condos, will Fido be welcomed? Is there a fence in place or will you need to have one in place before you move in? Or are you petless and would be horrified to find out that the neighbors dog barks 12 hours a day?

Is career most important? Do you want to be in an area where you can easily network and build new business contacts? Is commute time important? Do you work from home and would like a bright sunny area to call the home office?

The truth is, it’s all important! Although there will likely be concessions made in some areas and no home is perfect, these are all things to consider when relocating to a new city.

I pride myself on not only being knowledgeable about the real estate market in Lethbridge, but also about the community and what opportunities Lethbridge has to offer. I consider it part of my job.

If a client wants specific information, I will seek it out and provide it.

I am your eyes and ears until your move here is complete, and I take that very seriously. In the past, I have gone so far as to help clients seek out employment, find temporary housing if the dates they give up their old house and move into their new home don’t mesh, provide a list of babysitters if they have small children, restaurant guides… you name it! I am usually a clients first impression of our great city and could possibly have an influence on how their enjoy their time here. That’s a big job and I don’t take it lightly.

For more information, visit me at Lethbridge Real Estate, email me at mylethbridgerealty@gmail to request a Relocation Package or give me a call at 403.327.1166 Ext. 207 so we can discus your personal relocation needs.

Liz Toles

REALTOR® / Associate Broker

Coldwell Banker First Lethbridge Realty

For more information and to view homes for sale in Lethbridge, visit us at Lethbridge Real Estate

It’s been some time since I’ve put together a Lethbridge Real Estate market report and as you may guess by the title of this article, our market is quite different now since my last post. Notice I said “different” (not deflated, not crashed, not hopeless) and it’s the kind of “different” that gets me even more excited to be in the real estate industry!

“This time, like all times, is a very good one, if we but know what to do with it” were words uttered long ago by Ralph Waldo Emerson. Although I highly doubt he was referring to the real estate market, they are very fitting words right now. Hopefully I can help teach you “what to do with it!”

Have you ever dreamed of owning real estate as an investment? Sure, owning your personal residence is an investment in itself, but imagine sitting back and letting someone else pay your mortgage while you watch the value of your property rise. Even better, when done correctly and with the help of a REALTOR®, reaping the benefits of a property with positive cash flow! (Simply put, the expenses of owning and maintaining the property are less than the rents collected from the property. This allows you to put $$ in your pocket, or maybe even a smarter option, to pay down your mortgage faster!) Andrew Carnegie was once quoted saying that “Ninety percent of all millionaires became so through owning real estate.”

Are you ready to join the club?             

Let’s start with some basics.

What is a foreclosure? Simply put, a home in foreclosure is one where the owners are behind on their mortgage payments and the bank has decided to start action to exercise their right to reclaim the property and dispose of it. Some of the causes of foreclosure can include divorce, loss of employment or illness, and unfortunately, many homeowners are in denial about their situation and don’t take alternate action in time to save their home. (If you are a homeowner in this situation, there are steps you can take to reverse it…. don’t wait too long to speak with your mortgage provider about possible solutions!)

Why do the banks want to get rid of these homes quickly?

1. They represent bad debt on the books, and in addition, banks that own too many foreclosed properties are subject to penalty under federal law! When a bank carries too many of these properties, they may be restricted from borrowing money from the Bank of Canada or will pay a higher interest rate on monies borrowed.
2. Banks are in the business of banking, not owning properties. There are also additional expenses the banks must cover when they carry these properties (taxes, insurance, utilities).
3. CMHC – The Canada Mortgage and Housing Corporation was created in 1946 to “house returning war veterans and to lead the nation’s housing programs.” It has evolved many times over the years and has been paramount in the Canadian housing industry. One of the key functions CMHC now provides (in order to keep housing affordable to the majority of Canadians) is to insure part of the mortgage loan and take some of the risk off of the banks shoulders. Read that again carefully and what you might see is: CMHC covers a portion of the losses the banks incur on an insured mortgage meaning the banks can afford to sell these for CHEAP.

What are some things to be aware of when buying a bank owned property?

The list of pitfalls is extensive. These properties are not like other properties on the market. The offer process is also much different and there are many types of foreclosures and bank owned properties that should be avoided at all costs! For example, no amount of money can fix a bad location! Many of these properties have also been severely neglected and only a trained eye and the right professionals can help you spot which ones scream “RUN AWAY!”

How a REALTOR® can help you if you are considering these types of properties as investments?

1. We can help you establish how long the property has been on the market, and in some cases, how motivated the seller (bank) may be to sell.
2. We can assist you in obtaining a current market value and an estimate of improved value.
3. We can assist you through the offer process and inform you of special considerations or necessary conditions to the contract when dealing with banks.
4. We can assist you in finding the right professional(s) to help you obtain financing on these unique properties.
5. We will help you successfully negotiate with the banks and have the experience to know there is a different psychology behind the process.
6. With the guidance of a REALTOR®, you can determine on each individual property whether or not there is a PROFIT TO BE MADE using a simple profit formula.
7. When you have found the right property and made it shine, we can help you obtain the highest possible market value at resale!

The process can be lengthy and trying, but with the right REALTOR® on your side, this could be your opportunity knocking! Call or email Liz or Millie today at mylethbridgerealty@gmail.com or 403.327.1166 ext. 207 and let’s sit down to discuss your goals and browse our database of foreclosures and bank owned properties!

For more information and to view homes for sale in Lethbridge, visit us at Lethbridge Real Estate

For more information and to view homes for sale in Lethbridge, visit us at Lethbridge Real Estate