Lithium Technology - Boon for Alberta Economy

 

Lithium Technology - Boon for Alberta Economy

A Bright Spot for Alberta – Electric Vehicles (EV's) - Remarkable

It may sound incredible, but electric cars could soon be an economic driver for oil-rich Alberta. The increase in global sales for EV's has been astonishing. In 2010 there were about 17, 000 electric cars on the road but today it's estimated 7.2 million. Sales in 2019 swelled to 2.4 million. Tesla models accounted for most of the increase. General Motors announced it will go all electric by 2035.

Key Component of EV Batteries is Lithium- Plenty in Alberta

Lithium is a light, soft, silvery-white alkali metal. A key component of the batteries in EV's is lithium, the type found in Alberta, if you know where to look.  "There are a lot of opportunities for lithium in Alberta," said Roy Eccles, a senior consultant with Apex Geo-science in Edmonton.

Lithium Needs Oil – What Kind?

Like all alkali metals, lithium is highly reactive and flammable, and must be stored in mineral oil. Exploration of the oil and gas reservoirs has shown, that between 1,600 and 3,330 metres below the surface, the accompanying salt-water brine is enriched with lithium. The Leduc Formation, the source of Alberta's first big oil boom, is a rich lithium deposit. There are estimates of 10.6 million tons of lithium carbonate equivalent, in the province.

Oil and Gas Industry - Plus - Tackling Climate Change - A Dream?

It is possible. It is the future. Companies are hoping to capitalize on the growing demand for lithium batteries by finding an easier and greener way to extract the metal. Chris Doornbos, CEO of Calgary-based E3 Metals Corp, looks at Alberta’s vast depleted oil and gas reservoirs and sees only opportunity. His company is testing new technology that, if successful, would extract lithium from the brine in old wells with almost zero emissions. 

Opportunity Rich – Oil Industry Infrastructure and Skill Sets

"It's a big opportunity for the province because producing lithium is very similar to producing oil and gas," said Doornbos, a geologist who previously worked for Suncor Energy Inc. Everything that is oil in Alberta could be re-purposed to the lithium industry. Businesses are looking, not only at the infrastructure, but also looking at the people and their unique expertise and skill sets. Doornbos says, "At the end of the day, it's still putting Albertans back to work — it's nothing we don't know how to do or haven't done before."

For more information call Chris 403-680-4479

Holiday Greetings – A Recipe – Some Jokes

These are unprecedented times that call for following new health recommendations for celebrating Christmas 2020. We will be enjoying the holiday season with members of our household only. Our children are excited despite not seeing friends and other family members. They have our attention and time which is what kids really like.

We are very happy. Life is good. I hope you take this time to have fun with your loved ones. Stay warm and stay safe and have a happy and healthy New Year in 2021.

Our best wishes to you, from Chris, Nancy, Meah and Nick

Please enjoy the recipe and jokes.

Savory Roasted Chickpeas - A Nutritional Snack! - 3 Easy Steps

Did you stock up on cans of chickpeas during the corona virus pandemic? With this easy recipe you can use them to make a nutritional snack for the whole family.

Ingredients:

2 tablespoons olive oil

1 tablespoon ground cumin

1 tablespoon smoked paprika

1 teaspoon garlic powder

1/2 teaspoon chili powder (optional)

1 pinch each of sea salt and ground black pepper

1 (15 ounce) can chickpeas, rinsed and well drained

Directions:

Step 1 - Preheat an oven to 350 degrees F (175 C).

Step 2 - Whisk oil, cumin, paprika, garlic powder, chili powder and black pepper in a small bowl; add the chickpeas and toss to coat. Spread onto a parchment-lined baking sheet.

Step 3 - Roast stirring occasionally, until nicely browned and slightly crispy, about 40- 45 minutes.

Snack on these instead of chips. Try it sprinkled on a salad for extra protein.

 

Christmas and New Year One-liners

What do you call an obnoxious reindeer? RUDEolph.

Where does Santa keep all his money? At the local snow bank.

What goes "oh oh oh"? Santa walking backwards

What's the problem with jogging on New Year's Eve? The ice falls out of your drinks!

A New Year's resolution is something that goes in one year and out the other.

In 2021, I will become a vegan for a day and then realize that it was a missed steak.

source: http://www.jokes4us.com/holidayjokes/newyearsjokes.html

Vaccines are Here – Can Higher Interest Rates be far behind?

 Vaccines are Here – Can Higher Interest Rates be far behind?

How Long Can Interest Rates Stay Low Once Vaccines Arrive?

The announcements, two so far this month, about a vaccine for Covid-19 have taken markets by storm. When news broke that drug makers, Pfizer and Moderna had COVID-19 vaccine breakthroughs that appeared 90-94.5 % effective, the Dow Jones industrial average soared and the Toronto market also took off. Canadian oil and gas shares shot up with the prospect of people once again taking road trips and climbing aboard planes. The price of oil rose 10 %.

2019 Arrival of Corona-virus - Bank of Canada Cut Interest Rates

To help the economy struggle through the COVID-19 crisis and lockdown, Bank of Canada governor Tiff Macklem, cut rates by 50 bps to 1.25 % on March 4th 2020, bringing borrowing costs to the lowest since June 2018. It is the first time since March 2009 that the central bank slashed rates by 50bps.

Good News is Bad News for Borrowers

If you are thinking of buying a home, good news is often bad news for you, the 'Borrower'. According to Macklem, central bankers may not be thinking about hiking rates soon but a sudden surge of optimism that the pandemic  is over, which has until now felt endless, could mean that borrowers must at least think about the idea that rates will not stay near zero forever.

Fixed Rate or Variable Rate - Time to Talk with Your Mortgage Broker

You may be considering what a victory over COVID-19 will mean for the mortgage rates you now pay. Traditionally the variable rate mortgage averaged lower than the fixed rate but over the next 5 years the opposite could be true. You may consider this a time to lock in your mortgage.

Next Monetary Policy Report, MPR

The next scheduled date for announcing the overnight rate target is December 9, 2020 with a full update of the Bank's outlook for the economy and inflation, including risks to the projection, expected January 20, 2021.

Call me if you have any questions 403-680-4479

Go Big! - Home Owners Seek to Upgrade

 Go Big! - Home Owners Seek to Upgrade 

Big Backyard - Big-time Fun

The Trend for Tiny Homes is a Thing of the Past

The recent market trend for that tiny, more efficient home has ended. Covid-19 has changed the way people live and where they work. Goodbye commute, many Calgarians work from home. This is a movement that will stay for the 'for-seeable' future and may be a development that is here forever. People think about the square footage they now occupy day in and day out. They want to increase the space of their home and by a lot!

Single Family Home Sales are Up

The time when buying downtown meant a place to invest is no longer a sure bet, at least not for the time being. The real estate movement these days is buying into suburbs, up by 45%. The average price is in the $600,000 range. Consequently, apartment sales this past season have fallen by one per cent compared with the same time last year.

Main Floor Office Space a High Priority.

"Buyers during the COVID pandemic are favouring larger homes," says Barb Richardson, senior vice-president at Sotheby's International Realty of Canada. It reflects a growing preference among buyers for space. Having plenty of room especially for an office on the main floor is important. "Office space in homes is paramount," she says.

Big Backyards are in Demand

Most families dream of a back yard where the kids can play and be safe. Due to the Corona Virus pandemic, it is more important than ever. Recent numbers from the Calgary Real Estate Board show that there is an increase in buyers wanting a big yard, landscaping and even a vegetable garden.

Think of Selling to Upgrade - Don't Expect a Crowd at Open Houses

Calgary realtors say they are surprised by the level of activity in the city's housing market but open houses aren't what they used to be. The Calgary Real Estate Board (CREB) has reported that much has changed when it comes to open houses because of Covid-19.

New technology with 3-D scans of the homes, inside and out allows buyers and sellers to have open houses 24/7 online. Realtors have stated that website traffic has definitely spiked since the pandemic hit.

Any questions? Give Chris a call 403-6804479

Losses - Disaster - Lower - Declining - Falling but Wait!

Losses - Disaster - Lower - Declining - Falling but Wait!

These words all sound like doom and gloom. This is an unprecedented time in Calgary's history, Covid-19, job losses, oil prices, fear, yes but what if you still want to sell your home or buy one? The housing market has, over the last few weeks, adjusted to the pandemic.

The Facts - Should You Buy Now?

According to the Calgary Real Estate Board, April sales hit 573 units, a decline of 63 % over last year. CREB® chief economist Ann-Marie Lurie, said, "The combined impact of COVID-19 and the situation in the energy sector is causing housing demand to fall." But she also stated, "Demand is also falling faster than supply. This is keeping the market in buyers' territory and weighing on prices."

Buyers have Power

A greater share of home/condo sales has occurred in the lower price ranges. A homebuyer household earning $99,000, which is the median Metro Calgary household before-tax income, could get a mortgage that would be enough to buy for example a small condo. Maybe a $475,000 house is now achievable. Many sellers are uncertain about the state of the economy and more nervous about selling their home, which gives buyers increased power they normally don't have.

When will it End? Who Knows?

When the news of the world turns negative, you may be tempted to stop. During a shattered market economy it seems like the world is ending when you are in the middle of it. Time and again, when terrible events occurred, the same thing always happened, they ended. Throughout history when people seem to think the situation is hopeless, we always pulled through. This time should not be different.

Two examples of market extreme, is the internet bubble of the late 1990s and the stock market crash of 2008. In those moments, we saw the same headlines of doom and gloom. The trends kept going in the downward direction—until, that is, they didn't.

After the storm you may be happy you invested in something stable like a home. 

Several Incentives Help Cushion the Blow

There are many risk factors with Covid-19. Risks are events that may or may not happen. People need to live someplace. Why pay rent? A home is something many first-time buyers can now be hopeful for. The Federal Government, the Bank of Canada and the country’s biggest commercial banks are pulling out all the stops to try and head off a serious recession.

The central bank has cut interest rates spurring mortgage rates lower.  Banking regulators have loosened bank capital requirements to free up C$300 billion of lending capacity. Robert Hogue, senior economist at RBC Royal Bank says, "In all likelihood, this will be a temporary hit with a rebound taking place later this year once the COVID-19 situation settles down."

The Facts - Should You Sell Now?

Given the current recession combined with the pandemic, sellers may want to push ahead and sell. Home prices may not regain the current low levels because a Coronavirus-induced recession may inflict long-term economic damage.

If you're selling a home during the pandemic, you can expect technology to play a big role.  

For details on restrictions and challenges see my blog on What I Am Doing - Virtual Touring. https://yourhomeinalberta.blogspot.com/2020/03/what-i-am-doing-during-covid-19-pandemic.html

Carry on and Keep Calm and…

If you have questions give me a call, Chris at 403-680-4479

Understanding the Canada Emergency Response Benefit

Navigating the Canada Emergency Response Benefit & Employment Insurance Benefits

I wanted to share this graphic with you to help simplify whether you qualify for the recent Canadian Emergency Response Benefit, CERB. Please note that this is a guide only. Things change rapidly and to get the most up to date information check the federal government’s website regularly. If you haven’t done so, set up “my account” on the CRA website.  Call Chris 403-680-4479

Federal Government Announcements Regarding the Impact of Covid-19

Federal Government Announcements Regarding the Impact of Covid-19:

These recent initiatives are summarized for you since they may have a direct impact on you or a family member.

1. Temporary boost in the Child Tax Benefit
2. $900 biweekly for those who don’t have paid sick leave
3. $5 Billion in support for low income and those facing unemployment
4. Waiving the one week waiting period for EI sickness benefits for six months and waiving the requirement for a doctor note
5. Extending the tax filing date to June 1 and allowing taxpayers to defer payments until after August 31 - This is huge! This applies to balances due, as well as installments under Part 1 of the income tax act. No interest or penalties will accumulate during this period. HOWEVER – if you are getting a refund file now – it's your money.
6. Providing eligible small businesses, a 10 per cent wage subsidy for the next 90 days, up to a maximum of $1,375 per employee and $25,000 per employer
7. Allowing all businesses to defer until after August 31, payment of income taxes, interest-free
8. Making additional funds and credit available to businesses of all sizes, including farmers
9. Purchasing up to $50 billion insured mortgage pools to stabilize funding to banks and lenders
10. Six-month interest free moratorium on student loan payments
11. Reducing required minimum withdrawals on RRIF’s by 25% for 2020 – particularly beneficial during the recent market volatility.
12.  The government it is asking banks to work with their customers on debt management plans and repayment flexibility. Banks have confirmed that they will support up to 6-month deferral in mortgage payments, but this will be dealt with on a case by case basis.  
    
    While these measures were introduced yesterday, I would recommend that you go to: https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html for further information. More announcements are expected in the near future.
    
    This today, also read more news about how to apply for Employment Insurance and Emergency Benefits:
    
    https://www.msn.com/en-ca/news/canada/how-to-apply-for-ei-and-covid-19-emergency-benefits/ar-BB11pxIj?ocid=msedgdhp

Disclaimer: The opinions expressed in the text above belong solely to the author, and do not necessarily reflect the official policy or position of any other agency, organization, employer or company. We have taken all steps necessary to ascertain that this information is correct and  it is provided on an "as is" basis with no guarantee of completeness, accuracy, usefulness or timeliness. Readers are informed that any action taken upon the information is strictly at your own risk.

What I am Doing – During the Covid-19 Pandemic

What I am Doing – During the Covid-19 Pandemic

Chris at Work 2020

Buying a Home? – I'm Chris - Your New Virtual Realtor

If you have Corona Virus worries but still want to buy a home, I can save you the travel by offering you a virtual tour using video calling like facebook messenger or skype. I have years of experience showing houses, drawing up offers and basically handling transactions from start to finish doing it all remotely. From the comfort of your favourite safe spot, I will tour the home with you, pointing out the distinctive features and answering any questions you have. I am here to help you take advantage of the lack of buyer activity and negotiate hard on a new property.

New Social Distancing Rules

Once you have narrowed it down to a short list, I can also meet with you at the homes you are interested in, using the latest and safest 'Social Distancing Requirements.' For example, showing you a home will be restricted to a private in-person tour with two people at a time. We use an alcohol-based hand sanitizer before entering a home. During the tour I will maintain a distance of six feet from you and won’t shake hands or enter small bathrooms or crawl spaces.

Selling a Home? Virtual Tours More Important than Ever

For many years I have used my exceptionally reliable photographers who are experts at creating a virtual tour of homes for sale. While on site they follow Alberta Health recommended procedures. With video and audio clips I will help people experience the particular features your home has to offer, ensuring the best chance of a sale.

NEWS - Government Announces $82 Billion Dollars in Aid - Alberta will Benefit

On Wednesday, the government announced money to offset the downturn in the Canadian economy and the job-loss crisis. This is good news for Alberta. There is special attention to airlines and the energy sector that will boost a welcome relief to our province.

Banks Have Loosened the Purse Strings

Interest rates are at their lowest in years. Investors are taking encouragement from the recent rate cuts implemented to combat the economic crisis. Selling or buying a home is now easier than ever. The governments have stepped in, to not only slow the market volatility but also assisting people with their daily and monthly bills. The financial situation changes daily. If the bank refused you a mortgage before, you may even be encouraged to try again.

Poised for a Boom – Big Time – The New Roaring Twenties

History has a story to tell. The housing market in Canada did not experience a noticeable adverse impact from SARS as evidence suggest from a report in the Financial Post back in 2003. If any, the effect of Corona Virus is likely to be moderate in the short run. Many economists believe that if the challenge persists for a more extended period, the Canadian housing market may become more attractive to investors. They may likely move their capital from markets with more threatening health risks to the relatively safe environs in Canada. This could be the new age of The Roaring Twenties!

Why not give me a call? 403-680-4479

2020 Vision - Clear Path for Alberta's Future

2020 Vision - Clear Path for Alberta's Future

Victory for Trans Mountain

The recent Supreme Court decision removes the remaining obstacle for the Trans Mountain pipeline project to go ahead. The court upheld Ottawa's authority under the Constitution to decide on oil crossing over provinces such as between Edmonton to Burnaby, B. C.

Oil Prices - Up – Prospects - Up

Natural Resources Minister, Seamus O'Regan welcomed the ruling, saying that it is a core responsibility of the federal government to help get resources to market and support good, middle-class jobs. Other major oil pipeline developments, Keystone XL and Enbridge's Line 3 are also gaining traction just in time for oil prices, due to years of curtailment about to gain ground.

Jobs - Sunny Outlook Blowing Our Way

There is good news on the horizon for the Solar/Wind Industry job market and could explain the recent lower unemployment rate. Many mega projects, like the $200-million Danish-Canadian, TC Energy Corp. and the $500-million project in Vulcan County, Strathmore Solar Farm and others have received approval, started construction or applying for expansion.

Berkshire Hathaway, a subsidiary of Warren Buffett's US company, is breaking ground on solar and wind farms. Buffett announced that he is pursuing partnerships with solar, wind and other technology companies in Alberta.

Confidence in the Economy - Impressive

"Alberta is proud to be home to so many great innovators and entrepreneurs," said Jason Kenney. "This exciting new energy project will add to Alberta’s impressive renewable energy network, and is a vote of confidence in our economy." Also on the horizon is the 'Beyond Meat' market. Spin-off jobs are possible with the building of a huge pea-protein processing plant in western Canada. The pea-protein craze has led to Manitoba constructing its second 20,000-ton facility and this still won't meet the demand that is expected to grow for these products.

Stable Market - Sales Slow but Steady

According to predictions for 2020 by Calgary's Real Estate Board, and several real estate firms, sales are forecast to remain slow and steady. This means a return to a stable and balanced market. The job market is growing. The 'Millennials' and first-time home buyers have now had time to save for a larger down payment in order to pass the mortgage stress test. At the same time 'Baby Boomers' and 'Empty Nesters' seem to be opting towards renovations and refinancing versus selling to down-size. This may mean supply will remain low as the demand increases which could push prices up. For more on this visit CREB.com and click on media releases.

For more information give Chris a call #403-680-4479

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

Holiday Greetings – A Recipe – Some Jokes

Holiday Greetings – A Recipe – Some Jokes

We will be enjoying our 1^st Christmas in our new house. It is an incredible dream-come-true. Our young children are especially excited and are assured that Santa has our new address.

Some of you may have been following my blogs about the trials and tribulations of a custom built home. They are a collection of real-life stories, honest and sincere and interesting to say the least.

We have some news. Although the wedding is some time in the future, Nancy and I are officially engaged. We are very happy. Life is good.

Whether or not you celebrate Christmas in all its formality, it has become a multi-denominational joyous time of the year. If you are lucky enough to live in Canada, it is a holiday. I hope you take this time off to have fun with your loved ones. Stay warm and safe and have a happy and healthy New Year in 2019. Please enjoy the recipe and jokes.

Our best wishes to you,

From Chris, Nancy, Meah and Nick (also in the picture are friend, Miles, Baba and Papa)

SLOW COOKER CHICKEN CURRY

INGREDIENTS

10- bone-in chicken thighs 2-3/4 lbs or 1.2 kg

1 Jar (650ml) thick and chunky salsa – mild or medium

1 onion chopped

2 Tbsp Curry Powder

½ cup Cream Cheese

DIRECTIONS

Place chicken in slow cooker.

Combine salsa, onion and curry powder and pour over chicken

Cook on Low 8-10 hours (or High for 5 hours)

Transfer chicken to platter. Cover and keep warm. Add cream cheese to slow cooker. Whisk until cream cheese is melted and sauce is well blended. Spoon over chicken and serve with rice or your favourite pasta.

Why don’t crabs celebrate Christmas? Because they’re shell-fish.

Where does Santa keep all his money? At the local snow bank.

What do you get when you mix a Christmas tree and an iPad? A pineapple!

Buyer's Market? Yes for Some

Buyer's Market?  Yes for Some

You may have notice some recent 'Listings Alert' emails from me. They show numerous active properties, but of interest, is that many of them show: "Price Change". What does this mean? Is this now a Buyer's Market? What is clear is that there are significant changes in the Real Estate Market for Calgary and the surrounding area.

Decline - CREB Has the Figures to Prove It

The Calgary Real Estate Board says sales totalled 1,272 in September, down 13 % from the same month a year ago, "well below" long-term averages. CREB chief economist Ann-Marie Lurie says, "Concerns in the employment market, higher lending rates, and shaken confidence are weighing on house demand."

Good for Buyers

From a price perspective, Gary MacLean, a 32-year realtor with ReMax Central, says prices at the end of September were sitting at 2014 levels. Recent figures from CREB show the biggest sales decline are those homes in the $600,000 to $999,999 range. Home sales, overall declined nearly 10 per cent in October across the city. Detached home sales are down to levels not seen since the late 1990's. MacLean says that it is, "Great news for those buying. I can think of nowhere you can buy a home in 2018 at 2014 prices."

Modern Family Home Ownership Trend

Sotheby International Realty president and CEO, Brad Henderson says, "Even though everybody is talking about it being a buyer's market, we’re not seeing buyers really being active." From the 2018 Modern Family Home Ownership Trends Report, Sotheby explains that, "about half of Canadians have abandoned the dream of owning a single-family home." This is due to challenges, preferences and home-buying habits of modern families, specifically between the ages of 20 and 45.

More Power for Active Buyers

There is reason to have a positive attitude about the future in Alberta. Oil is still at a good rate. Interest rates seem to be holding fairly steady with no major increases lately. There are no more changes looming for mortgage rules. November CREB Report states that there is some easing in new listing growth. If they are down that is a sign that inventory will slow soon. With the younger set waiting, that means the buyers that ARE active have more negotiating power. Keep your eyes on the listings then give me a call # 403-680-4479