New Listing - Woodside Estates in Airdrie

Impeccably kept executive home backing onto Woodside Golf Course & ample water features. You'll enjoy the quiet, peaceful & serene surroundings! This beautiful home has an abundance of maple hardwood & very high quality ceramic tile throughout. The centrally located spiral stairwell is designed to present an eye capturing focal point. An abundance of bright windows present the natural surroundings well & make this home at all times cheerful. Jetted tub in master-en suite, and of course, an adjoining walk-in closet. You'll enjoy utilizing the generously sized multi-level decks incorporating a well maintained Beachcomber hot-tub with built-in CD player & hush pump. professionally finished with quality workmanship throughout. This is more than a home, it's a lifestyle enhancer! As a bonus, the roof has just this year been professionally re-shingled with Meerkat quality shingles! Main floor den may be used as an office or extra guest room. - Click link to view.

Mortgage Acceleration

I received an email today from a company I had never heard of, expounding the virtues of their mortgage acceleration software. After doing a fair bit of digging, I found that this software and others like it, are manifesting themselves in a virus-like fashion under different disguises. It is apparently very lucrative for the sellers of the software, which I gather retails for about $3500.00.

It was somewhat difficult to find many reviews, since the search results yielded hundreds of links promoting the same software, pushing the reviews down in the rankings to oblivion. From what I learned, most of the financial advisers who discussed the virtues of the software, recommended you steer clear of them. Personally, I'm adding this to my list of "get rich schemes" which really just eat up the equity you've already built up, and will not likely make any noticeably appreciation on your bottom line unless you happen to be extremely fortunate.

Moreover, the price of the software is prohibitive. Think about it, when was the last time you purchased any software over $100.00? Who are they trying to kid?? Here's an interesting clip I found on the topic. Excuse the relatively poor quality, but it does seem to drive the point home. (If you can't see the video, click here)

New Real Estate Model

You heard it here first!

Effective in October 2008, RECA (an independent, non-government agency, responsible for regulating industry professionals in the real estate, mortgage broker, and real estate appraisal industries under Alberta’s Real Estate Act), is rolling out a new model for Brokerages to operate under. Currently all brokerages operate under common law (Transaction Brokerage).

In October, brokerages may elect to operate under the Designated Agency Model.

In nutshell, what this means to the consumer is this:

For single agency transactions under Transaction Brokerage (common law), The agreements are with the brokerage, and all agents within that brokerage are deemed to have access to information which is held by the listing agent.

Under Designated Brokerage, written service agreements are required, whether for the buyer or the seller. brokerages must have legislated information barriers in place to protect the privacy of all transactions, Agents within that brokerage are deemed to operate independently, and contracts reflect these differences. Agents in Designated Agency are appointed in writing to serve as sole agent for the buyer or the seller.

Not all brokerages will be able or willing to move to Designated Brokerage depending on the size and physical layout of their office, or they may choose to remain under Transaction Brokerage as a business decision.

In either instance, an agent in conjunction with their client may opt to operate under Transaction Brokerage for any transaction. Dual Agency will be a thing of the past and agents representing both sides, may do so under Transaction Brokerage by written agreement with one side having only "Customer" status whereby they forfeit their rights under agency or in a Designated Brokerage as a Facilitator for both sides, and must conduct themselves in an even-handed, objective and impartial manner. In a Designated Brokerage, the agent may opt to refer one party to another agent within their office to act for the other side.

A Facilitator must completely avoid the exercising of discretion or judgement, the giving of confidential advice or advocating on behalf of the customer. The client or customers must decide whether they feel comfortable with this type of relationship, and if not, may elect to have another agent represent them in the transaction. In Designated Agency, the brokerage itself is in a neutral position with respect to the transaction, as as such cannot give advise beyond that of a facilitator.

Informed consent by the buyer or seller is key to the designation process.

The changes are a major shift in the way that we conduct our businesses, and will not be without it's challenges as the changes are implemented. Agency is a very complex subject, and all agents must have completed a three day study by October of 2008 to be sure that they understand all the nuances. Almost all of the standard contracts are being re-written to reflect these changes, so it would be wise to read them carefully and understand them before committing ones self to a binding relationship.

You will likely be hearing plenty more about this in the upcoming months. More information on Buyer Brokerage which by legislation must be practiced by Designated Agents is available here.

Finance Options for Investment Properties

CMHC announced their Rental Property program in January, however the Insurance Premium is fairly pricey! At 95% to 100% loan to value the premium would be 7.25% for a 25 year amortization. 40 year amortizations are available however the premium would increase by .60%


This program is available with Purchase or Purchase with improvements for up to 4 units. Clients have to have a strong credit history. It is available under Corporate names with personal guarantees. Income must be verified.

Best current rate on 5 year term is 5.74% and Variable is Prime - .60%.

New Listing - Marlborough Park

$319,900 - This comfortable home is in excellent condition from top to bottom. Upgrades include brand new carpeting throughout the main floor, new furnace, new hot water tank, vinyl window in kitchen. It's conveniently located on a very quiet street nearby schools and two parks. Unspoiled basement is clean as a whistle! There's very good value here. Call to view.

Dower Consent Requirement

Seller Brokerage Agreements are now requiring a "Dower Consent" which is to be signed by the non-titled spouse before a Commissioner for Oaths, Notary Public, or a lawyer, before the property can be marketed, under the following circumstances:

1) The Title is in one name only
2) The couple is legally married
3) Either spouse has lived on the property at any time during the marriage.

You should consult with a lawyer before attaching your signature to such an important document. If the couple is separated but not divorced, a Dower Consent is required regardless if the spouse has never entered into the property.

The Dower Act applies to legally married same-sex couples but not to common-law couples. It should be noted that the Dower Consent applies only to the property in question and is not a blanket release.