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Council OKs broad new rules for rentals in duplexes, small lots and row-houses

Edmonton Journal

City council approved sweeping new regulations for secondary suites in Edmonton Monday, breaking with its tradition of only allowing two units per single family lot.

The bylaw will now let anyone build a duplex plus two rental suites on one single-family lot in many mature and new neighbourhoods. Homeowners can now also add a suite to homes on small lots, or in a row-house unit. The suites can’t be larger than the main dwelling.

That means up to four households can exist now where one household was before and offers more rental options in quiet residential neighbourhoods.

6 Reasons to Use a Mortgage Broker

Whichmortage.ca

If you’re a first time home buyer or real estate investor, your head may be swimming with the sheer variety and volume of lenders and lending products available in the market.

But there is a short-cut to getting the right mortgage deal for your situation. Mortgage brokers keep up-to-date with the latest product offerings from lenders and have intimate knowledge of various features and options. They work as a liaison between the borrower and the lender to negotiate a home loan for their client.

Read more on whichmortgage.ca

Mortgage Broker or Big Bank- Who to Choose?

youngandthrifty.ca | Mortgage Broker vs. Big Bank

You’re lookin’ to buy a place but don’t know whether to go with a Canadian mortgage broker or with a big bank, and you want to get the best mortgage rate & best deal possible (of course, what fool wouldn’t?). Or maybe you’re already in the place of your dreams and just looking to get the best rate when your mortgage term expires. Here’s the difference between the mortgage broker I eventually used and the big banks that I inquired into before making my decision. Mortgage Broker A mortgage broker is a professional who is a freelancing agent.  

Read full article here...

Mortgage seekers wonder: broker or bank?

Globe and Mail: Among the many tough decisions first-time home buyers face is whether to use a mortgage broker or rely on a bank to secure a mortgage.

Among the many tough decisions first-time home buyers face is whether to use a mortgage broker or rely on a bank to secure a mortgage.

As the housing markets in some of Canada's biggest cities continue to heat up, buyers are looking at skyrocketing prices at the same time that the federal government's concern about the situation resulted in several rule changes over the past few years, making it harder for some to get mortgages.

Read more...

Bank of Canada’s latest indicator clinches it — interest rates are going up soon

Financial Post - Kevin Carmichael: If not next week, then perhaps in May. But don’t panic the economy will be OK

Donald Trump may have changed the rules of politics, but luckily for Canadians, the laws of trade gravity are harder to bend.

A new survey of executives by the Bank of Canada — and the last significant economic indicator before policy makers’ interest-rate decision next week — suggests most companies are tuning out the U.S. president’s harangues about “horrible” commercial agreements and his threats to correct the alleged unfairness with tariffs.

Read more...

Should you lock in your mortgage rate or renew early before interest rates rise again?

Global News

The Bank of Canada (BoC) stayed put today, but interest rates will probably begin to rise again by the end of the year.

The BoC’s so-called policy interest rate, which affects the general level of interest rates in the economy, currently stands at 1.25 per cent, up from just 0.5 per cent in July. The latest increase came in January when the bank implemented its third quarter-of-a-percentage point increase since last summer.

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The Alberta Real Estate Association (AREA) reports that a total of 5,151 residential unit sales were recorded through the MLS® Systems of real estate Boards/Associations in Alberta in July, down 16 per cent from the same month last year.

 

The average MLS® residential price increased 2.2 per cent from July 2015 to $403,665.

Last year, the city expanded where infill homes can be built.

Despite the controversy they sometimes illicit from neighbours, infill homes remain popular with buyers, which is one of the reason prices haven’t come down as the city opened up more areas of the city, says one builder.

Matthew Kaprowy, president of Accent Infills, said many more companies are building infill homes because even in a downturn they are a reliable investment.

Read more...

LONDON LUTON AIRPORT PASSES 13 MILLION PASSENGER MILESTONE

 

  • Passenger numbers increase by 17 % in April

  • New service to San Sebastian announced for this summer

  • £200 million light rail link will replace train station shuttle buses

 

Over 1.1 million people flew through London Luton Airport (LLA) in April representing a 17% increase in passenger numbers compared with the same month last year.

 

The latest record month means LLA has catered to over 13 million passengers in the past 12 months, the first time ever that the airport has passed that milestone. April also marked 25 consecutive months of passenger growth at the airport.

 

LLA is addressing this increased demand by investing £110million to transform the airport. Contractors are already on site redeveloping the terminal building to increase annual capacity from 12 million to 18 million passengers by 2020.

Earlier this month plans were announced to build a £200million mass passenger transit (MPT) link to connect the rail station with the terminal. The link will replace the existing shuttle bus and cut journey times from St Pancras to less than 30 minutes, bringing LLA closer to London than both Gatwick and Stansted.

As well as delivering major upgrades to the airport’s facilities, the transformation will also dramatically improve the passenger experience by expanding the route network.

Air Nostrum is the latest carrier to announce new services from LLA; the Spanish airline has announced that tickets are now on sale for twice-weekly flights to San Sebastián. The new route, which will enter service on the 26 July, is exclusive to LLA and will open up access to this popular resort offering world-renowned cuisine and beautiful Blue Flag beaches.

 

Read full article...

 

May 2016 report on Edmonton residential sales activity.

The Alberta Real Estate Association (AREA) reports that a total of 4,481 residential unit sales were recorded through the MLS® Systems of real estate Boards/Associations in Alberta in March, down 12.7 per cent from the same month last year. The average MLS® residential price decreased 1.7 per cent from March 2015 to $392,145.​

The Alberta Real Estate Association (AREA)

The Alberta Real Estate Association (AREA) reports that a total of 2,277 residential unit sales were recorded through the MLS® Systems of real estate Boards/Associations in Alberta in January, down 13.8 percent from the same month last year.

Many Canadians entering retirement with inadequate savings, study says

The Globe and Mail

A large percentage of older, working Canadians are heading into retirement without adequate savings to keep them out of poverty, a new study suggests.

Canadian Real Estate Wealth | canadianrealestatemagazine.ca

With home sales increasing by 54 per cent in January 2016 compared to the same month last year, the Greater Victoria region has seen its greatest number of real estate transactions since 2002, according to analysts. 

Money Sense | moneysense.ca

We’ve calculate the nest egg you’ll need for different levels of income.

Edmonton Housing Forecast - REALTORS® Association of Edmonton

The video recording of the presentation feed shown at the REALTORS® Association of Edmonton Housing Forecast 2016, held at the Edmonton EXPO Centre on Jan. 6, 2016.  

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Edmonton's Economic Outlook

City of Edmonton

Steve Sedgwick, Chair REALTORS® Association of Edmonton

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vernon@samaroo.ca

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