Should You Test Your Home for Radon? YES!

Should You Test Your Home for Radon? YES!

What is Radon?

It is a radioactive gas, formed by the breakdown of uranium, a natural radioactive material found in soil, rock and groundwater. It is colourless, odourless and tasteless. When radon is released from the ground into your home through the basement, it is diluted and low in concentration but some Alberta home have higher levels than recommended by the International Commission on Radiation Protection.

Radon is the Leading Cause of Lung Cancer in Non-Smokers in Canada!

The risk is high. Radon exposure is nearly everywhere in the northwest corner of the continent. The scale of radon exposure in the Canadian Prairies is the second highest on Earth. A recent University of Calgary study, reported that one in eight Albertan homes tested over safe levels of radon gas. Results may not be seen for years but the damage to your DNA is a real concern. Exposure is estimated to be the cause of 16% of lung cancers.

Indoors - Radon can be a Big Problem

When radon mixes with the air outside, it is not a problem: the air outside dilutes the amount of radon. But when radon seeps into a closed-in space like a house, it can be harmful. You and your family can breathe in high levels of radon without knowing it. Every house in Alberta has a yearly freeze-thaw action due to the water underground. This movement causes continuous erosion. If your house is older there could be extensive gaps, fissures and cracks and many other holes allowing the gas to seep in. Testing should be done every five years or after major renovations or changes to the HVAC system. Even if neighbouring homes test low for radon, yours could still have high levels.

How Do You Test for Radon?

If your house is newly built you have to wait until the concrete cures. This takes 18 months. Then a proper radon test takes a minimum of 90 days and should be done in the winter. According to the Canadian Lung Association, web site, you should put the test device on the lowest level of your house that you use regularly at least four hours a day. Make sure it won't get knocked over. Then you mail the test device to the company’s laboratory according to package instructions. The company will analyze the test device in their laboratory and mail or email you the results.

What do I do if I have high radon levels?

Health Canada radon guidelines say that no action is required if radon is below 200 Bq/m3. However, even low levels of radon can be harmful. It is better to try to lower your home's radon level as much as possible. You need to repair your home if your home’s radon level is between 200 and 600 Bq/m3 within in the next two years and if over 600 Bq/m3 then you should repair your home within one year. You may need to hire a contractor to figure out where the radon is coming in so that you can make repairs to block the radon.

Government Mandated - Remediation.

The government has mandated that every home built since November, 2015 should have a sub-slab depressurization rough-in installation site. This allows for an effective form of radon reduction with reduced costs. Your Real Estate agent can tell you if a home that you are interested in has a rough-in depressurization site, has been recently tested, see the copy of the recorded test result and tell you if the necessary remediation has been done to make the home safe. If there is work that needs to be done to reduce radon, the estimated cost is around $2,000 to $3,000 but much less if you have a sub-slab rough-in.

Are Our Calgary Schools Safe? – They are On-To-It

You may soon receive a notice that the CBE will be conducting tests for radon gas in a number of schools across our system. Thankfully they are being proactive about our children's safety.

Christopher Ashby
REAL ESTATE PROFESSIONALS
100, 5810 2 STREET S.W.
CALGARY, AB T2H 0H2
Mobile: 403-680-4479
Office: 403-253-5305
Fax: 403-775-5156
E-mail: chris@yourhomeinalberta.com

Website: http://www.YourHomeInAlberta.com

Economic Recovery for Calgary – Will it happen again?

Economic Recovery for Calgary – Will it happen again?

Albertans have Confidence



Now that Alberta is seeing increased confidence as the oil and gas market starts its recovery, the wheels are in motion for Calgary real estate. Market indicators show that first-time and luxury home buyers are looking to get in and up. They have faith that life will get better.



According to the CMHC – Market Movement

Even with increased interest rates and new mortgage rules, first-time and move-up home buyers are leading the residential charge in multi-family residences and luxury homes, respectively. Meanwhile, Millennials and younger couples are balancing the condo market.

Over-building - Looks to be Subsiding

Senior market analyst with CMHC, James Cuddy, says, "Over-building has started to come back a bit." Also, vacancy for rentals fell from 6.3 per cent in October 2017 to 3.9 per cent in the same month in 2018. "Last year was the first year we saw positive price increases in terms of rental rates” since 2014." says Cuddy. This is good news for the housing market.

Cuddy notes, "Ultimately in Calgary, it will get to a point where renters are making that trade-off decision between the cost to rent and the cost to buy."

Absorption Rates – Percent Rising

CREB statistics for May show a positive market indicator of absorption rates – the number of sales vs. the number of homes listed. CREB chief economist Ann-Marie Lurie explains that the sales of real estate has remained low compared to historical activity for May, but, "the easing prices have brought some people back to market, while also preventing some others from listing their homes."

New listings in May pulled back significantly from previous year's levels. Combined with an improvement in sales, this resulted in inventories declining from 4,504 units last May to 3,921 units this month. This is the first time since May 2017 that year-over-year inventories declined.

Altus Group - Indicator of Market Improvement

Altus Group released its 2019/2020 forecast this month revealing the city’s struggling housing market should benefit from growing migration, which will elevate demand for housing and boost starts. Calgary’s slumping real estate market appears to be headed toward recovery near the end of this year and into next, according to a new report.

"We will probably see more of the same for housing from last year into this year initially," says Peter Norman, vice-president and chief economist of research, valuation and advisory. He adds that the conditions look like they will slowly improve into 2020. "Yet the slump in prices also creates greater affordability, which along with strong job growth expected in 2020 —15,600 new jobs — will drive demand amidst falling inventories."

Luxury Market

CREB’s current files show that in 2018, the most expensive house sold for $5 million and, so far in 2019, a sale price has hit $4,587,000. It is worth noting that an all-time Calgary luxury market sale happened in the 2013 heyday when one Calgary home sold for $11.1 million. You may want to check out my blog on the luxury market back in 2014. "Huge Appetite for Calgary's Best Homes": https://yourhomeinalberta.wordpress.com/2014/05/02/74/

Office, Commercial and Industrial Sectors – Trend also UP!

A Price Waterhouse Coopers (PwC) report states that Calgary’s industrial real estate market continues to gain momentum, showing positive absorption in 2018. There is a flight to quality in office so landowners are getting creative by developing unique, collaborative spaces to target Millennials, Start-ups and Tech Firms. Some are dog-friendly, offer perks such as a basketball courts putting greens as well as dog spas and outdoor dog parks.

Follow my posts on facebook: https://www.facebook.com/LiveInOkotoks/ or Call Chris 403-680-4479

First Home? How about 10% Off?

First Home? How about 10% Off

It Could be a Dream-Come-True for Some

The recent federal budget has some interesting news for those who dream of owning their own home. There's new help for first-time home buyers and some consider this the boldest proposal in the new 2019, budget. After a new ruling that came into effect in January, namely that mortgage applicants had to pass a stress test to ensure their ability to make payments, helping to cool the market, now a boost in homes sales is expected. The promise is that buying a home could be easier!

Government to Help with the Cost – Wow!

The help is coming from the Canada Mortgage and Housing Corporation (CMHC) If buyers have a household income of under $120,000 they will be eligible to receive a credit worth up to 10 per cent of their home price from the CMHC. This will reduce the overall cost of their mortgage. The plan will provide $1.25 billion over three years toward assisting new buyers in securing a mortgage. The assistance will come with CMHC holding an ownership stake in the property equal to the credit.

New Home or Older Home – There are Different Rules

There are different incentives depending on when the house was or will be built. The incentive would be 10 per cent for buyers purchasing a newly built home and 5 per cent for existing homes.

For example, say you’re hoping to buy a $400,000 home with the minimum required five per cent down payment, which works out to $20,000. With the new incentive, you could receive up to $40,000 through the CMHC. Now, instead of taking out a $380,000 mortgage, you’d need to borrow only $340,000. So the bottom line is that this would lower your monthly mortgage bill from over $1,970 to less than $1,750. It is now more important than ever to talk to a Realtor about buying a new home, BEFORE you step into the show home!

Some Details Not Clear – Stay Tuned

So what should you make of this information? If you’re looking to buy, this could be good news, especially if you’re in the Calgary area where homes listed are some of the country’s more affordable, especially compared to Vancouver or Toronto. If your budget is under the $480,000 cap it could be worth waiting to see how the new CMHC initiative shakes out.

This is a complicated proposal. Any new incentive has some unknowns. For example: How long will buyers have to repay and when will the initiative start? Will the equity stake adjust with the market value or will it be a fixed amount? Need help? Visit the CMCH website at:  https://www.cmhc-schl.gc.ca/ or Call me 403-680-4479

Curious about Condo Ownership? Read On

Curious about Condo Ownership? Read On

Wish You Owned a Condo? Good News for Buyers and Sellers

New governance regulations, for Condo ownership, were approved by cabinet recently. "About one out of every five Albertans lives in a condo and our government has their back," says Brian Malkinson, Minister of Service Alberta.

Rules Change – More Protection for Condo Owners' Investments

A condo is a substantial investment. The new rules can be found at https://www.alberta.ca/assets/documents/condominium-property-regulation.pdf

If you are considering buying a condo it is recommended that a professional read the bylaws and review the financials first.

Access to Condo Documents - New Changes! - What You Need to Know

In previous years gaining access to this information could be expensive! But now prices will be set. With new regulations it will now be easier to access condo documents and the new rules will clarify which documents must be provided to new owners and when they need to be provided. It will also stipulate what exactly needs to be included in them.

New Regulations Will Make Condo Life Better

Anand Sharma of the Canadian Condominium Institute (CCI) appeared on media channels recently to explain the many of the changes. "This is huge for condo owners," said Sharma, who is president of the North Alberta chapter of the CCI. "We’ve been waiting for this regulatory change for 18 years. It was a big piece of legislation." These new regulations will make it better for everyone in the industry.

Condominium Boards - More Important – More Transparent

There is good news for potential buyers. As a result of surveys, consultations and studies by condo owners (more than 5,000 across the province) in cities like Edmonton, Calgary, Lethbridge and Fort McMurray there are now new bylaws for condominium boards. These new rules come into effect in July of 2019. The Minister has also stated that, "Alberta condominium boards will have to be more transparent as a result of changes made to the province's Condominium Property Regulation."

Revamp of Voting Rules and Much More - This is Huge!

The new rules mean owners will get more notice to attend general meetings and see 'Agenda Topics' beforehand. Other changes include adjustments to make the rules fairer on how condo corporations can issue bylaw fines and how reserve funds are managed. Some changes related to insurance matters were also made.

Condo Fees – More Pressure on Condo Boards for Accountability

Condo boards will not be able to raise condo fees without justification. Sharma said, "They have a fiduciary responsibility."

He went on the explain that the new regulatory framework is going to put a lot more pressure on condo boards in terms of professionalizing the industry and professionalizing their action. For example the reserve fund studies will not be able to be penned by just anybody, as the updated regulations define the 'study-provider' qualifications.

Insurance and Deductibles - What You Need to Know

While it's not mandatory under the Condominium Property Act or Regulation to have insurance to cover insurance deductibles, a condo board can now enact a local bylaw. And effective Jan. 1, 2020, condo boards will be able to go after condo owners for outstanding insurance deductibles up to a maximum of $50,000. Sharma advises condo owners to look into an insurance plan. "Start preparing for that," Sharma said.

Any questions about the new condo regulations and what they mean for you? Please give me a call 403-680-4479.

Class Action Law Suit - Alert! KITEC Plumbing

Do You Have This Plumbing?

Class Action Law Suit - Alert! KITEC Plumbing

A Flood Waiting to Happen – Save Money Now - Deadline Looming

It is important to take a look at the plumbing in your home. If you have Kitec plumbing, both the fittings and pipes are prone to deterioration.  It was a type of plumbing sold between 1995 and 2007. To be eligible for settlement benefits, you must file a claim before January 9, 2020 or you will not receive payment.

Kitec – The Go-to-Pipe

During this time most plumbers and heating companies agreed it was the 'go-to-pipe'.  It was popular and inexpensive. That was before the recall. The good news is Kitec products are the subject of a class-action lawsuit. The settlement is worth tens of millions of dollars. Homeowners are eligible for partial compensation to pay for repairs.

Courts Have Granted Class Authorization

The USA courts, as well as Canada nationally have certified and approved cases for settlement purposes. You can begin the procedure of processing a claim. See Claim Forms: http://www.kitecsettlement.com/index.cfm. The site estimates there are approximately 292,000 installations/properties with the Kitec system in North America.

Do You Have Kitec? - How to Find Out

Start by looking near the hot water tank or in the mechanical room. The Kitec system is usually blue in color for cold water applications and orange for hot water. The plastic piping and aluminum, over time, expand and contract at different temperatures. It can cause them to burst. It may also result in clogging and poor water pressure and flow. Also check your home’s electrical panel doors. Professional plumbers typically added a sticker to the electrical panel stating that Kitec was used. A Kitec pipe can be marked with one of about 10 different brand names, for example PlumbBetter, IPEX AQUA and WarmRite. All visible fittings should be stamped with Kitec or KTC. Unfortunately Kitec brass fittings when in contact with well water with a high mineral content or acidity will chew away and cause them to fail.

Don't Risk Water Damage to Your Home

Most sellers and owners are completely oblivious to the fact that there's potentially an issue with the plumbing. Some will pay to replace it. Others will insure homes but at a higher rate. Some insurance companies give homeowners a certain amount of time to replace it or lose their insurance. In the event your pipes break, everyone should know how to turn off the water.

If you have questions or concerns or if you need help figuring out if you have this type of plumbing, give me a call. I am happy to help. 403-680-4479