Russian Edmonton Real Estate

Canada is one of the best countries in the world for home ownership. We are now clearly the fastest growing nation in the G8 regarding immigration as recently reported in the Globe and Mail. Canada is setting its sights on an annual immigration of 400,000 people by 2016 up from the current 320,000.
The demand for home ownership across all provinces will be significant for decades. As Canadians we can feel confident that our home will continue to be a place where we raise our families, have our dreams come true and remain a cornerstone of our life long financial wellbeing, despite what the media would like us to believe.
The U.S. economy is showing signs of consistent growth with housing starts and new jobs leading the charge. This of course bodes well for us and is particularly welcome news for our manufacturing and resource sectors.
So the economy on both sides of the border looks promising, immigration will continue to add to the growth of Canada and interest rates are historically low. Regardless of what some might want us to think Canada is Still the Best Place to Own a Home!
If you know anyone who is looking to buy a home, it’s important that they get pre-approved today! The spring market is fast approaching and there is evidence everywhere of a pent up demand. Having that pre-approved mortgage in hand can give someone the advantage over other buyers.
Call or email me today!

http://www.edmontonjournal.com/business/Calgary+real+estate+investment+market+Canada/7535200/story.html

The common British, Canadian, South African, and ANZAC tradition includes either one or two minutes of silence at the eleventh hour of the eleventh day of the eleventh month (11:00 a.m., 11 November), as that marks the time (in the United Kingdom) when the armistice became effective.

The Service of Remembrance in many Commonwealth countries generally includes the sounding of the “Last Post“, followed by the period of silence, followed by the sounding of “The Rouse” (often mistakenly referred to as “Reveille“), and finished by a recitation of the “Ode of Remembrance“. The “Flowers of the Forest“, “O Valiant Hearts“, “I Vow to Thee, My Country” and “Jerusalem” are often played during the service. Services also include wreaths laid to honour the fallen, a blessing, and national anthems.

The central ritual at cenotaphs throughout the Commonwealth is a stylized night vigil. The Last Post was the common bugle call at the close of the military day, and the Rouse was the first call of the morning. For military purposes, the traditional night vigil over the slain was not just to ensure they were indeed dead and not unconscious or in a coma, but also to guard them from being mutilated or despoiled by the enemy, or dragged off by scavengers. This makes the ritual more than just an act of remembrance but also a pledge to guard the honour of war dead. The act is enhanced by the use of dedicated cenotaphs (literally Greek for “empty tomb”) and the laying of wreaths—the traditional means of signalling high honours in ancient Greece and Rome.

In Canada, Remembrance Day is a public holiday and federal statutory holiday, as well as a statutory holiday in all three territories and in eight of the ten provinces (Ontario and Quebec being the exceptions). From 1921 to 1930, the Armistice Day Act provided that Thanksgiving would be observed on Armistice Day, which was fixed by statute on the Monday of the week in which November 11 fell. In 1931, the federal parliament adopted an act to amend the Armistice Day Act, providing that the day should be observed on November 11 and that the day should be known as “Remembrance Day”

In rememberance, this article is being published on 11 month(nov), 11th day, at 11h 11min.

Edmonton, November 2, 2012: Even with ghosts, ghouls, and goblins running through the streets, homeowners could find refuge in the local housing market. The REALTORS® Association of Edmonton reports that housing prices in October were up compared to a year ago and are the highest in October in the past five years. The all residential average price for the Edmonton Multiple Listing Service® was up 0.6% at $324,924 when compared to October 2011. The average price of a single family detached home was $372,061 up 2.1% over a year ago. Condos were priced on average at $234,177 which was an uptick of 1.8% from a month ago and up 5.4% from last October. Duplex/row house prices were down 1.1% Y/Y at $305,777.

Homesellers are pleased that their property may be worth more than it has been in the past five years but homebuyers can plan their financing in an environment of small, steady price increases. The housing market is be-deviled in other centres but here in Edmonton both buyers and sellers find it heavenly. The pace of sales is steady, prices increase year-over-year, there is sufficient inventory and average days-on-market is reasonable.

REALTORS® listed an average of 72 homes each day in October and sold an average of 44 per day. There were a total of 2,228 residential listings in October, with sales of 1,375 properties. As a result of lower listings and larger sales volumes, the month end residential inventory was down (-7.9%) from last month with 6,406 properties available. Days-on-market was an average of 61 and the sales to listing ratio was 62%. There was $447 million worth of residential property, $53 million of rural and $23 million of commercial property sold through the Edmonton MLS® in October.

Life happens to us all, unless you are an investor, the best time to buy or sell your home is when your lifestyle changes. No matter what your personal circumstances, Irina Mierzewski – your REALTOR® is here when life happens.

I often hear a question: Is Russia a cheap or expensive country to visit?
Honestly, I do not know what to say. It could be both. Just a few years ago
Moscow it was at the top of the list of the most expensive cities in the world.
After the financial crisis of 1998 the situation changed, most of the businesses
realised that they should work for middle class, but still Moscow is expensive
for some things.

The most expensive is accommodation, you can get a decent luxury hotel room
for not less than $350, while 3-star hotels offer their rooms for $50-$100 a
night, and what you get is usually worse than what you expect for the money.
There are only a few budget accommodation options in Moscow: generally you can
get a crappy single for $20, and a crappy double for $30-$40. There are only
three hostels in Moscow, they offer a bed in a dorm room for $16 and higher.
Read more on accommodation below on this page.

The food is relatively cheap: if you cook yourself you’ll fit in 50-100R
($1.7-$3.5) a day, if you go to the restaurants only, expect to spend from 100
to 300 R ($3.5 – $10) a day – of course if you’re not up to the luxury stuff.

The transportation is very cheap: a ride on the metro is 5 R ($0.15), a bus,
a trolley, or a tram is 4 R ($0.13). A taxi will charge 50-200R ($1.7 – $7)
depending on your appearance and your ability to negotiate. You’ll have to pay
more than Russians to do sightseeing. Museums and famous sights charge about $3,
however there are some tricks, see in the appropriate sections of our site.

If you go partying, you can spend nothing or everything. Most of the clubs
don’t charge any entrance cover, however if you get to a concert expect to pay
$1-$10. A drink is usually about $1-$2. A meal is about $3-$4. There are some
‘high class’ clubs where you’ll have to leave about $30 to enter, and pay double
prices in the bars. Shopping is expensive, though there’s very much variety: all
the main fashion and casual wear brands are represented. The prices are about
20% higher than in Europe.

In short, expect to spend as much in Moscow as you would at any European city
and if you find yourself short of funds, here is an emergency tip: Call Western
Union at 797-2194 to find out the closest location or visit
www.westernunion.ru/eng/root.htm

Most business establishments accept the standard credit cards, Visa,
Mastercard, Amex, Discover, etc. The credit card company will usually provide
you with very favorable exchange rate. Using credit cards is always a safe bet!

Edmonton, October 2, 2012: The REALTORS® Association of Edmonton reports that residential listings and sales have trended lower in the third quarter after an active start to the year. In September, there were 1,269 residential sales in the greater Edmonton market as compared to 1,442 in September 2011. Despite the recent cooling trend, residential sales year-to-date are still up 7.2% as compared to last year at this time. There have been 14,565 residential sales to the end of the third quarter as compared to just 13,729 last year.

“There were changes to the mortgage qualification rules in March,” said REALTORS® Association of Edmonton President Doug Singleton. “We did not see an effect on the local market at that time but it seems to have had a cooling effect in the past quarter.”

The average1 price for a single family dwelling (SFD) has remained higher than last year for each of the past nine months. In September, the SFD average price of $376,678 was up just 0.23% from the previous year and is up 2.78% from the January 1 price. The all-residential average price is down 2.6% from last year at $323,369. This is the first month this year that the all-res price has dipped below the 2011 figure for the same month.

Condominium and duplex/rowhouse prices are more volatile and vary widely from month to month. In September average condo prices were down 3.1% ($229,246) while duplex/townhouse prices on average were up 2.75% ($307,739). Still, after nine months both current prices are up from the January 1, 2012 prices for the category.

Total MLS® System listings this year are up 104 units as compared to last year at 33,295 properties but Total MLS® System year-to-date sales are 16,487 units as compared to 15,378 at the end of the third quarter in 2011. There are 6,956 residential properties in the inventory compared to the 8,062 last year at this time. Rural and commercial property sales are both up marginally compared to last year although listings have dropped. The residential sales-to-listing ratio was down from 56.7% to 52.3% and residential days-on-market was up to 59 in September from 54 in August.

“Sales always fall month-to-month at the end of the year; that’s just normal market fluctuation,” said Singleton. “But overall, the market has been stable with little market advantage for either buyers or sellers. Edmonton is still one of the best places in North America to own property and I urge consumers to talk to their local REALTOR® when they are in a position to buy or sell property.”

Edmonton, September 5, 2012: Residential property sales in August slowed both month-to-month and year-to-year, mirroring a trend that has evolved nationally all summer. Sales of all types of residential properties in August (1,430) were down 17.4% from July and down 10.7% from a year ago. The number of people offering their properties for sale also slowed but not as sharply as sales. There were 2,732 residential properties listed on the Multiple Listing Service® in August; down 2.2% from a month ago and down just 5.6% from a year ago. The available inventory was reduced 2.9% to 7,458 properties.

“Housing sales across Canada have dropped slightly since May,” said REALTORS® Association of Edmonton President Doug Singleton. “The sales activity varies from market to market and it appears, when compared to last year that Edmonton is slowing faster than the national trend after a very active spring. Never-the-less, housing prices are still up from a year ago and consumer confidence is high.”

Despite the slowdown in sales, prices were up as compared to August 2011. The average* selling price of a single family detached home (SFD) was down marginally (-0.15%) at $384,477 from last month but up 3.8% from a year ago. Condo prices were also down marginally (-0.9%) from last month at $237,042 but up from last year. The all residential average price was $334,395 (down 0.5% m/m) which is up 3.2% from August 2011.

Average prices are affected by the difference in price of similar properties as well as the market composition or mix of homes sold. Compared to a year ago, a typical bungalow in August sold for 2.2% more while a typical 2-story home sold for about 3.2% more. While the price of an individual home was rising, the market composition was also changing. In August 2012, 53% of SFDs sold were priced below $375,000 as compared to 59% in 2011. In addition, the number of sales of homes over $500,000 was up from 11% in 2011 to almost 15% this year.

“August sales illustrate the changes in the composition of the market,” said Singleton. “More consumers are purchasing homes at the higher end of the market. This is an indicator of consumer confidence and a long term view that this market is stable. ”

The average days-on-market in August was up two at 54 days. The sales-to-listing ratio was down, moving down from 62.0% in July to 52.3%.

Edmonton, August 2, 2012: The average* price of resale residential property softened in July according to figures released by the REALTORS® Association of Edmonton today. The all-residential average price dropped from $342,014 in June to $335,501 in July (down 1.9%). The average single family detached price in the service area of the Edmonton Multiple Listing Service® was down 2.3%, the average condominium price was down 2.1% and the duplex/row house price was off 3.25%.

“Housing prices continue to follow seasonal patterns but residential unit sales are 3.6% higher than last July,” said REALTORS® Association of Edmonton President Doug Singleton. “That being said, the price drops are minimal and still about 5% higher than they were at the beginning of the year.”

There were 2,801 residential properties listed in July with 1,624 sales and the average days-on-market was up one at 52 days. The sales-to-listing ratio was stable, moving slightly from 58.4% in June to 58.0%. Eager first-time buyers are snapping up homes listed below the median price of $325,000 and reducing the inventory of lower-priced homes. A steady stream of new listings helped the residential inventory remain solid with 7,684 properties available, especially at the higher-priced end of the market.

The number of single family homes sold in the $450,000 or higher range is up about 26% in 2012 as compared to the past five years. This trend is expected to continue for the rest of the year. Homes in this range also sold faster this year than in previous years. Days-on-market was the lowest it has been in five years at just 40 days in 2012 and the spread between the list and sold prices was lower at 2.3%.

“Persistent low mortgage rates, job stability and higher average incomes in Edmonton result in consumer confidence which has opened up the higher end of the market,” said Singleton. “Many of these sellers are moving up and do not want to carry two properties. They need to sell so that they can close on the new property; so they are doing all they can to ensure a reasonable but quicker sale. The increased inventory at the higher end is creating some pressure on sellers to keep their list prices reasonable. Once again, consumer confidence and access to low cost financing is driving the upper end of the market even while providing buying opportunities for first-time buyers.”

There have been 64 sales of properties over $1 million so far this year as compared to 66 in all of 2011. Those top end properties sometimes take over a year to sell but the average DOM is just 72 days; down from 78 last year.

Edmonton, June 4, 2012: Home buyers in Edmonton are facing one of the most affordable markets in Canada according to a recent RBC market survey. That is confirmed by month end figures released by the REALTORS® Association of Edmonton for residential property sold in May through the Multiple Listing Service® System. RBC reported that the housing affordability index for Edmonton was just 32.4% of a typical household income. Increases in the affordability index in other parts of the country are influenced by higher real estate prices.

“While housing prices are higher in Edmonton than last month, they are inching up in manageable increments,” said REALTORS® Association of Edmonton President Doug Singleton. “The total amount a home buyer has available for a home purchase is based on the amount they can afford to pay each month. When affordability ratios are low, as they are in Edmonton, the buyer has more confidence in their ability to meet all of their living expenses.” The strong economy with resilient consumer confidence has resulted in strong housing sales in this market and relative price stability.

In May, the average1 residential price was up 3.2% from last month at $348,196. The average price of a single family detached home was $388,762, up 1.7% from the previous month. The average price of a condominium in May was $248,846, up 5.9% from April. Duplex and rowhouse properties sold on average for $310,991; a 5.5% drop from the previous month.

The median3 price for a single family detached home was the highest it has been in five years. Half of the homes sold last month were under $370,000 while an equal number of sales were priced over that figure. In 2008 the median price was $365,000. The median price for condominiums last month was $232,000 which is lower than the 2008 median ($250,000) reflecting a market change that results in higher sales of smaller (and therefore cheaper) condominium properties.

The average days-on-market in May was down one at 49 days and the sales-to-listing ratio was stable at 53%. REALTORS® participated in the sale of over $811 million worth of residential property last month and total MLS® activity for the year is $3.1 billion.

“Many financial planners advise that homeowners should spend a third of their income on housing (mortgage, utilities and property taxes),” said Singleton. “Edmonton is bucking a national trend and making housing more affordable than other cities.” According to RBC the affordability index for Toronto was 53.4% of income and Vancouver was 88.9%.

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Activity      (for   all residential sales on Edmonton MLS® System)

2 Residential includes SFD, condos and duplex/row houses
3 Single Family Dwelling
4 The middle figure in a list of all sales prices
5 Includes residential, rural and commercial sales

1 Average prices indicate market trends only. They do not reflect actual changes for a particular property, which may vary from house to house and area to area. Prior period figures have been adjusted to include late reported sales and cancellations and therefore reflect a more accurate view of the period than previously reported at month end.

Amortization –  The number of years it takes    to repay the entire amount of the mortgage.

Appraisal Value –  An estimate of a property’s    market value by a professional Appraiser; used by lenders in determining    the amount of the mortgage.

Debt Service Ratio –  The percentage of a    borrower’s income that can be used for housing costs.

Gross Debt Service (ADS) Ratio –  Gross debt    service divided by household income. A rule of thumb is that ADS should    not exceed 30%. It is also referred to as PIT (Principal, Interest and    Taxes) over income. Sometimes energy costs are added to the formula, producing    BITE, which moves the rule of thumb ADS to 32%.

Total Debt Service (ADS) Ratio –  is the    maximum percentage of a borrower’s income that a lender will consider for    all debt repayment (other loans and credit cards, etc.) including a mortgage.

Equity –  The difference between the price    for which a property can be sold and the mortgage(s) on the property. Equity    is the owner’s stake in the property.

Foreclosure –  A legal process by which the    lender takes possession and ownership of a property when the borrower doesn’t    meet the mortgage obligations.

Mortgage –  A contract between a borrower    and a lender. The borrower pledges a property as security to guarantee    repayment of the mortgage debt. Lenders consider both the property (security)    and the financial worth of the borrower (covenant) in deciding on a mortgage    loan.

Assumable Mortgage –  A mortgage held on      a property by the seller that can be taken over by the buyer, who then      accepts responsibility for making the mortgage payments.

Conventional Mortgage –  A mortgage loan      which is 75 per cent or less of the loan-to-value ratio; and does not      require insurance by CMHC or other private insurer.

First Mortgage –  The first security registered      on a property. Additional mortgages secured against the property are “secondary” to      the first mortgage.

High-ratio Mortgage –  A mortgage that      exceeds 75 percent of the loan-to-value ratio; must be insured by either      the Canada Mortgage and Housing Corporation (CMHC) or a private insurer      to protect the lender against default by the borrower who has less equity      invested in the property.

Open Mortgage –  A mortgage that can be      prepaid or renegotiated at any time and in any amount, without penalty.

Pre-Approved Mortgage –  Tentatively approved      by a financial institution for a specified amount, interest rate and      monthly payment.

Second Mortgage –  A second financing arrangement,      in addition to the first mortgage, also secured by the property. Second      mortgages are usually issued at a higher interest rate and for a shorter      term than the first mortgage.

Term Mortgage –  A non-amortizing mortgage      under which the principal is paid in its entirety upon the maturity date.      Sometimes called a straight loan.

Variable-rate Mortgage –  A mortgage for      which payments are fixed, but whose interest rate changes in relationship      to fluctuating market interest rates. If mortgage rates go up, a larger      portion of the payment goes to interest. If rates go down, a larger portion      of the payment is applied to the principal.

Vendor Take-Back Mortgage –  When sellers      use their equity in a property to provide some or all of the mortgage      financing in order to sell the property.

Mortgage Life Insurance –  Insurance that    pays off the mortgage debt should the insured borrower die.

Mortgage Payment –  The regular installments    made towards paying back the principal and interest on a mortgage.

Mortgagee –  The person or financial institution    lending the money, secured by a mortgage.

Mortgagor –  The property owner borrowing    the money, secured by a mortgage.

Mortgage Broker –  A person or company having    contacts with financial institutions or individuals wishing to invest in    mortgages. The mortgagor pays the broker a fee for arranging the mortgage.    Appraisal and legal services may or may not be included in the fee.

Mortgage Insurer –  In Canada, high-ratio    mortgages (those representing greater than 75% of the property value) must    be insured against default by either CMHC or private insurers. The borrower    must arrange and pay for the insurance, which protects the lender against    default.

Mortgage Prepayment Penalty –  Is a fee paid    by the borrower to the lender in exchange for being permitted to break    a contract (a mortgage agreement); usually three months’ interest, but    it can be a higher or it can be the equivalent of the loss of interest    to the lender.

Portability –  A mortgage feature that allows    borrowers to take their mortgage with them without penalty when they sell    their present home and buy another one.

Prepayment Clause –  A clause inserted in    a mortgage, which gives the mortgagor the privilege of paying all or part    of the mortgage debt in advance of the maturity date.

Principal –  The mortgage amount initially    borrowed or the portion still owing on the mortgage. Interest is calculated    on the principal amount.

Rate –  (Interest) The return the lender receives    for advancing the mortgage funds required by the borrower to purchase a    property.

Refinancing –  The process of obtaining a    new mortgage, usually at a lower interest rate, to replace the existing    mortgage.

Secondary Financing –  Second, third, fourth,    etc. mortgages, secured by a property “behind” the first mortgage.

Term –  The actual life of a mortgage contract, from    six months to ten years, at the end of which the mortgage becomes due    and payable unless the lender renews the mortgage for another term (See    Amortization).

Weekly Payments –  Mortgage payments made    weekly or 52 times per year.