Blog - May, 2015

“Closing Day” Terminology You Need To Know

Closing day is an exciting time. After all, you’re moving into your new home! However, it can be stressful as well. The last thing you need is to be confronted with something you don’t understand. So here is a quick list of common “closing day” terms.

• Disbursements. This is the allocation of funds to the appropriate parties, such as the seller. Your lawyer will take care of this for you.
• Possession. This is the moment on closing day when you are legally able to take possession of your new home. It’s usually when your REALTOR® or lawyer hands you the keys.
• Title. This is a legal document that identifies the property and its owner.
• Closing costs. These are expenses, excluding the selling cost of the property, that are due on closing day, such as…

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CALGARY MARKET UPDATE (Based on 30 Days) - May.1st 2015

Active: 5730
Sold: 2000
Average List Price: $480,986
Average Sale Price: $467,903
Average Days on Market: 40 Days
Sellers are getting 97% of asking price, 35% of homes on the market today are expected to sell within the next 30 days. The absorption rate is at 2.87% meaning we are in a balanced market.

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AIRDRIE MARKET UPDATE (Based on 30 days) - May.1st 2015

Active: 380
Sold: 141
Average List Price: $400,443
Average Sale Price: $394,065
Average Days on Market: 41 Days 
Sellers are getting 98% of asking price, 37% of homes on the market today are expected to sell within the next 30 days. The absorption rate it at 2.70% meaning we are currently in a balanced market.

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May 2015 - Upgrades That Hold Their Value

Do you have a renovation project in mind – and wonder how much value it will add to your home? Remodeling Magazine recently did a study of renovation projects, comparing costs to added value. Here are some of the results:

Replacing a main entry door has a return on investment of over 95%. After all, the entrance to a home is one of the first things a prospective buyer notices.

Adding a new deck also adds a lot of value. Depending on the materials used, you can expect to get back three-quarters of the money invested.

Another high-payback project is the garage door. This once again demonstrates the importance of a home’s “curb appeal.”

If you’re tackling a big project, such as a basement renovation, you’ll be glad to know that, according to the…

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