Avoiding Under-Appraisals

When it comes to a car, there’s virtually nowhere for its value in the market to go but down. By the sixth year of ownership, a brand new $30,000 sedan would have dropped in value by nearly a third. Houses, on the other hand, are different; depending on factors like the state of the real estate market, its value can either swing up or down.

Residents find it difficult to price their home as high as possible due to the sheer investment in home improvements for it to look appealing to an appraiser. Nevertheless, even with a thorough appraisal, it won’t guarantee a good price, especially before closing. This results in an “under-appraisal,” a real estate phenomenon common in both the U.S. and Canada.

With tools such as the Multiple Listing Service® (MLS), under-appraisals should’ve been relegated to history. The MLS® is as accurate as a buyer or seller will get as far as local real estate prices are concerned, being a hodgepodge of homes for sale. While it’s not good for an appraiser to give a low value, so is the homeowner asking for a higher, unreasonable one.

Every group in the real estate market has tons of data to rely on to reduce the frequency of an under-appraisal. The appraiser has the right to give a low price for your house, given that he can justify reasons for this outcome. However, you also have the right to ask for a review of the appraisal, given the same conditions. 

On Properly Finding Real Estate in Calgary

Priding itself on its diversity and relatively high standard of living, Canada is extremely popular to those looking to live in another country. It certainly helps that the nation’s real estate is fairly stable, and that foreigners can easily purchase and own property (provided they either observe restrictions or eventually become naturalized Canadians). While it all sounds fair and good, the main problem some buyers might experience is where to find the right homes.

One of the most promising regions in Canada to live in is Calgary, Alberta. Hailed as a financial powerhouse, Calgary’s strengths lie in its oil, gas, and energy industries. Naturally, numerous businesses have flocked to the city to share in the city’s strong economic vibe. Homebuyers, particularly those set on purchasing their first home, should consider living in Calgary due to the wealth of opportunities to be had.

Identifying a city to live in is one thing, yet actually choosing a property to purchase within the area is another. It can be difficult to find a home for the right price when everyone else also wants a piece of Calgary. Fortunately, local REALTORS® can help buyers secure a property that best suits their preferences and price range.

Why Pick Calgary Over Other Canadian Cities?

It can be challenging to search for a city that will become the perfect backdrop for a brand new chapter of your life. Each city has something unique and different to offer, and it is up to you to decide which city caters to your needs most effectively.

One of the cities that vie for the attention of families and individuals looking to relocate is the city of Calgary. The city, located in Alberta’s southern region, has a lot of perks to offer any family looking for a new place to call home.

Calgary is the most populous city in Alberta, with more than 1.2 million people living in the metropolitan area. The high population can be attributed to the jobs generated by Calgary’s oil industry since its boom in 1947.

Another perk people get from living in Calgary is the sheer beauty of the city itself. The city has received various recognitions from several organizations and has been dubbed as the best city to live in Canada. Moreover, it has also been named as one of Canada’s smartest and most cultured cities.

Finally, its location is of strategic advantage. It is three hours away from the U.S. border, and is an hour away from the Canadian Rockies. Families looking to enjoy nature at its finest will also find that Calgary is a wonderful city to live in.

These are some of the factors that make Calgary an ideal paradise to start your life anew.

House-Flipping in Calgary Commercial Real Estate

Sources define “house-flipping” as simply purchasing a house not for keeps but for profit. House-flipping may also be associated with development investing. Home improvement projects are done to make run-down houses look more appealing. After improving the properties, they can be sold at higher market prices.

What makes house-flipping ideal in Calgary commercial real estate is the consistent state of the market. For the past years, Calgary has been a prime investment center. Especially for luxury properties, real estate demands are greater than the supply. With the cost of living and neighbourhood qualities being esteemed in the area, Calgary is a place where investors and homeowners can thrive.

There are a lot of factors to consider once you decide on the market to invest on. Neighbourhoods should be studied so as to find where quick turnaround is most likely. Next, the type of property to flip should be determined. Is an upscale, single detached home an in-demand commodity? Would a condo be easier to finance and sell? After that, finances should be settled, and last would come the hands-on canvass and plans for properties.

REALTORs® can be hired to aid those who are just starting and those who need extra guidance in a house-flipping investment. These professionals, who belong in national real estate boards are up-to-date with trends and standards in the Calgary real estate market. They can provide valuable advice such as leads on investment properties and due timing for investments.

Useful Tips in Looking for Houses for Sale in Calgary

Thanks to a variety of factors like population growth and continuous foreign investments, Calgary, Alberta is now one of the fastest growing cities in Canada, similar to Vancouver in British Columbia. In 2013, Calgary ranked 1^st in MoneySense’s Best Places to Raise Kids in Canada. Those who wish to move here would probably have a hard time choosing for the perfect home for their family, but only because there are just so many viable options. The city, after all, is able to cater to various lifestyles, income brackets and needs.

Southwest Calgary has Bankview, Mount Royal, and Killarney as its prime neighborhoods which boast trendy restaurants and bars, as well as a decent public transportation system. The Southwest is also regarded to have some of the best houses for sale in Calgary, although this also means that residential and rental properties are quite expensive. Northeast Calgary generally doesn’t have this problem, but that is because neighborhoods like Bridgeland primarily cater to working class families.

The neighborhoods of Northwest Calgary, like Kensington and West Hillhurst, are well-known for their arts and crafts shops, cafes, and bistros. These things make Northwest Calgary highly recommendable for artsy and fun-loving individuals. In contrast, Southeast Calgary is mainly commercial and industry-based, although newer suburbs like McKenzie Lake are still cropping out in this region, expectedly due to Alberta’s consistent economic growth.

Tips on Purchasing a House—Why Consider MLS

After many years of working while renting an apartment, you’ve finally saved enough to buy your own house. This is an opportunity you don’t want to miss or take lightly so you will surely use any possible means to make a worthwhile purchase. Here are some of the things you can do to make sure that the house you will buy is what your family longs for.

Expect the selection phase to last for months. Unlike buying an item in a department store, buying a home is a critical process that involves thorough research and inspection. Factors like transportation, proximity to basic establishments and weather have to be carefully considered. You also need to spend ample time visiting and inspecting several houses per day and to learn how to turn down offers that you think don’t fit your needs.

To make an even more informed decision, hire a reputable real estate agent. Not only can an agent guide you effectively, he can also minimize the tasks you need to perform throughout the purchase. He can do the searching, marketing and documentation required, and he can do them better.

Modern-day agents even use multiple listing services to make their search for a home that matches your standards even more accurate. MLS is an online software where sellers provide detailed information about the homes they sell. This makes purchasing easier since the agents can quickly identify the home the meets their client’s needs.

Looking for Better Living Space? Find an Alberta Real Estate Agent

Buyers, on the other hand, need to sort out an Agreement of Purchase through their REALTOR® of choice in such a way that the purchase complies with provincial laws. For example, a person who wishes to buy Calgary, Alberta real estate must first contact a reputable lawyer who can facilitate the transfer of title and file the transaction with the Alberta Land Titles office. Certified REALTORS® should be quick to remind their clients of these things, in case they forget.

Anybody who wishes to cash in on the current growth in Alberta’s real estate market should keep the above factors in mind. Given the right conditions, Alberta will continue to be a real estate hot spot.

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