WHY MOBILE HOME OWNERSHIP MAY BE A GREAT OPTION FOR YOU

The Lore Group is often asked by purchasers if buying a mobile home is a good investment. Here are a few points we think purchasers should consider:

YOU WON’T BREAK THE BANK WHEN PURCHASING A MOBILE
Many people view home ownership as an unattainable dream. When purchasing a mobile home, you get to enjoy the perks of home ownership without the often higher financial cost of a traditional single family home. In this regard, mobile homes can make homeownership easier to achieve. And since mobile homes usually cost less per square foot than a stick built home, you can get more space and amenities for your money. Mobile homes can be purchased new or used, with used homes often offering even greater savings. The money saved affords a buyer much more freedom to experience all that life has to offer.

LOCATION, LOCATION, LOCATION
The negative stereotype of mobile home parks couldn’t be further from the truth. Most Fort McMurray mobile home communities are gorgeous! Check out areas such as Morgan Heights, Westborough Heights & Cartier Park in Timberlea. Newly rebuild areas in Beaconhill and Waterways offer both resale and brand new homes built with the most up to date energy efficiency packages. These beautiful neighbourhoods feature parks, playgrounds, waterparks and are close to schools and amenities.

QUALITY, SAFETY & ENERGY EFFICIENCY
Modern mobile homes are built in controlled environments by professional tradesmen. This means they can be consistently built to a high standard.
Many of the well-known mobile home builders are well-regarded throughout the industry for creating excellent homes, solidly built to exacting standards that address every aspect of the home; heating, plumbing, air conditioning, thermal and electrical systems, structural design, construction, fire safety & energy efficiency. Inspectors ensure that all standards are met, along every step of the way, from design, to construction to assembly. Recent technology has driven design forward and further improved the quality of Mobile Homes in a streamlined, proficient way that makes this type of housing affordable, safe, custom and environmentally sustainable.

ENJOY YOUR OWN PRIVATE YARD
For those with a love of gardening or family gatherings around the fire pit, mobile home ownership may be a perfect fit. Mobile homes in Fort McMurray have the added benefit of their own private and spacious yards. Safe and fun space for your children and pets to play, in many cases without restrictions often imposed by conventional condominium life, many lots feature generous privately owned parking and room to store all those toys.Fort McMurray offers both bareland condominium, and non condominium neighbourhoods. It’s important in any neighbourhood to become familiar with any rules and restrictions when determining if it’s the right place for you to set roots.

EMBRACE YOUR FREEDOM
There are so many different types and configurations of mobile homes, you can embrace this freedom and choose a home layout and décor that suits your lifestyle and personal taste. With mobile home lots now available to purchase at a reasonable cost, you can choose and customize your own brand new home! The most desired features of site built homes including bathrooms with whirlpools, walk-in closets, bay windows, fireplaces and fully-equipped kitchens with top of the line appliances. On the outside, you can choose your siding material and even build features like patios, decks, awnings, out buildings and fire pits, and in some cases yards are large enough for a garage. You can personalize…upgrade, paint, or completely remodel anytime you want. An added benefit to mobile home ownership is no overly close neighbor’s. While it is nice to get to know your neighbors, it’s also nice to have your own privacy. Unlike apartments, when you live in a mobile home you don’t share walls or a yard with your neighbors.

RESALE VALUE
The Real Estate market in Fort McMurray has not been without its changes in the past few years. It may interest a purchaser to know that on a percentage basis mobile homes have retained the strongest values year over year in 2017.
Research, Research, Research
All things considered, when buying a new home is there any reason not to go the Mobile Home route? Whether you are a first-time home buyer, looking for a change from apartment life or making the transition from a traditional single family home the process can be daunting. With so many mobile home sizes, designs and locations to choose from, the options are seemingly endless. A Lore Group Realtor would be pleased to assist you with the research required to find you the perfect home in a location you will love.

THINKING OF SELLING YOUR MOBILE HOME??

If you are considering selling your Fort McMurray home and would like a FREE MARKET EVALUATION feel free to contact Micheal Cammock, Jamie Hewat, Tristan Parker or Susan Lore to find out how much your home is worth in today’s market and how The Lore Group, Coldwell Banker Fort McMurray, can help you.

WHY BUYING A HOME DURING THE WINTER MONTHS CAN BE A SMART MOVE.

Winter is usually when people are looking to deck their own halls—not buy new ones. But buying a Fort McMurray home in November, December and January can have some big advantages.

While the cold, snow and short days may tempt you to hunker down and stay inside, winter could be a perfect time to find the home of your dreams for a great deal. Here are a few reasons why:

 REAL ESTATE SALES COOL DOWN

Traditionally during the winter there are fewer homes on the Fort McMurray market. As the weather cools, so does the Fort McMurray Real Estate market and many people wait to buy or sell until warmer weather hits. This means there are fewer buyers to compete with. It is simple economics-less buyers means lower demand, this can work in your favour and increase the odds that you find a house that ends up being a perfect fit. As things slow down, sellers and their properties get less action and this may make them more eager to work with you.

SKIP THE FORT MCMURRAY PEAK REAL ESTATE SEASON

Prices are normally at their highest during the spring and early summer months. Inventory rises, but there are a lot more buyers competing for properties and sometimes multiple offers. The laws of supply and demand are always a factor in Real Estate. This year due to the Fort McMurray wildfire rebuild, there are many awesome new homes coming to market for you to choose from.

SELLERS ARE MOTIVATED

Winter may not the ideal time for some to sell so sellers with properties in the market can sometimes be highly motivated by something urgent or time sensitive such as a new job, growing family or pending retirement. A winter sell can be a good indication of a seller’s motivation. For many people, it’s emotional. The end of the year brings closure and they want to tie up loose ends. Many sellers will want to get the deal closed.

NOTICE HOW A HOME WORKS IN HARSH WEATHER

Fort McMurray is known for long cold winters and brisk warming trends offering respite and fluctuations that will test the ability of a home to insulate and protect its residents. Serious problems are more likely to be detected such as drafty or frosted windows and doors, heating, plumbing, ice damning, roof and gutters issues. Winter is the ultimate litmus test of a home and most of its systems. This information is vitally important and can be useful when establishing price.

TAX MOTIVATIONS FOR WINTER BUYERS AND SELLERS

Year end is coming and many investors and corporations can take advantage of buying or selling properties to improve their tax situation. This could work to your advantage as timing is everything.

 MORTGAGE RATES MAY RISE IN 2018

This is no small matter. Scotiabank’s out with a new prediction. The nation’s #3 mortgage lender says rising rates will cause average mortgage carrying costs for new buyers to jump 8% in 2018 and another 4% in 2019 (assuming stable home prices). Now is a great time to prequalify for a mortgage and lock in to get the best mortgage rate you can. Buying during winter, before rates have a chance to increase, is a clear winning strategy if you want to save extra money.

THE HOLIDAYS MAY MAKE EVERYONE A LITTLE BIT MERRIER

As friends and family gather, many are in good spirits you may just get a better price based on holiday cheer.

THE LORE GROUP REALTORS LOVE THIS TIME OF YEAR

Don’t let winter put the chill on your house hunting efforts. If you are interested in viewing property a Lore Group Real Estate professional would love to tour with you , and walk you through the home buying process. Put on those cozy winter boots, bundle up, pack a warm cup of cocoa to go and let’s get out there.

FOR A LIST OF AVAILABLE FORT MCMURRAY PROPERTIES CALL OR TEXT SUSAN LORE, MICHEAL CAMMOCK, JAMIE HEWAT, TRISTAN PARKER OR SHERYL SCOTT AT 780 370 3325

Don’t put off searching for a new office space until the last minute

Tenants seeking Commercial space in Fort McMurray under 5,000 square feet should start a search at least 6 months ahead of time. Allow ample time for your Real Estate professional to search for a space that fits your requirements. You will need time to perform due diligence, negotiate and draft the lease. In cases where the space requires build out or remodelling plan for additional time to work with planners, architects and construction crews, this can take up to a year.

For large spaces businesses, should begin the planning process at least a year prior to expiry of their current lease. The larger the tenant the more complex their business needs may be. Big corporations need to start earlier to allow time to find the best possible fit.

Put together a team of professionals

Don’t go it alone. Putting together a team of qualified professionals may be your most important task. Choose a local experienced, full time Fort McMurray commercial agent who can share market trends, demographics, provide research on comparable rents and knowledge about the various areas for consideration. Many businesses make the mistake of not engaging the services of a local leasing agent. A Fort McMurray Real Estate agent can find you the optimal location assist you with finding the perfect commercial or industrial property, negotiate favourable terms and craft an offer to lease that will help you save time and money. Engage the services of a commercial Real Estate lawyer to review the finer details of the lease. You may need to enlist the services of professionals such as an architect, inspectors, accountant, various trades and in the case of larger businesses a project manager to serve as a single point of contact. Your Fort McMurray Real Estate professional can assist you with assembling a team.

Know your budget

Budget is important. Research all the costs to operate a space and your business. Many businesses wind up over budget because they didn’t review all the costs. Consult with your financial institution, accountant and review your business plan. While budget is important be open minded in your property search. Don’t let the rate be your only consideration. Bear in mind corporate image, visibility, parking, and the utility of the space and other complimentary businesses in the area that might create great synergy. Taking into consideration items such as this can help boost your corporate image, retain employees and attract new business.

Do your homework

Evaluate the buildings mechanical infrastructure to determine if it meets your business needs. Inspect the space or building inclusive of mechanical, electrical, plumbing and HVAC to ensure it is in good working order before you commence the lease. Be certain all building safety codes are met and the proper permits are up to date for any development in the space. Double check with the RMWB on zoning and ensure that your use will be permitted so that you can obtain a business license. Many businesses have made the huge mistake of assuming zoning alone is enough to ensure a business license. If your business requires a heath inspection check ahead to ensure you can meet applicable standards. Carefully review hours of operation, parking regulations, elevator access, security details, property tax and operating expenses. Did you know that many Landlords charge additional operating costs for running HVAC after normal operating hours?? Be in the know and avoid unplanned for costs that can affect your businesses bottom line.

Measure, Measure, Measure

When leasing commercial space, as a tenant, you must be 100% sure of the amount of space you are paying for. Do not rely on the landlords plans alone. Don’t be afraid to require the Landlord to prove it with a BOMA certified drawing. It could be a costly mistake if you do not have the space properly measured by a space expert.

Negotiate 

No term is too small to negotiate. Ask for favourable clauses that will benefit you. Explore Landlord incentives such as tenant improvement allowances, rent free periods and moving allowances. Carefully review options such as the option to sublease, terminate, extend and expand. Negotiate items such as designated parking and after- hours operation. Plan ahead for the future growth of your business. Address caps and terms for operating costs, pass through charges and negotiate the right to independently audit any charges.

If you would like to learn more about leasing or are considering leasing a commercial space for your business and contact Susan Lore, The Lore Group, Coldwell Banker Fort McMurray or visit our website theloregroup.com to view a list of available properties.

The Canada Mortgage and Housing Corporation will charge borrowers a few dollars more every month to insure their mortgages, starting in March.

The housing agency made the announcement in a release Tuesday.

Starting March 17, CMHC will charge mortgage holders slightly more every month to insure their loans.

By law, anyone putting down less than 20 per cent of the purchase price of a home in Canada must pay mortgage insurance, even though the homeowners themselves don’t benefit from that coverage. Rather, it’s a fee borrowers pay so if they default on loans, their lenders aren’t on the hook. Instead, an insurance payout would cover any defaulted loans.

Royal Bank hikes mortgage rates
TD hikes mortgage prime rate to 2.85%

Premiums are calculated based on the amount borrowers are getting versus the size of the down payments.

Typically, CMHC fees are as little as 0.6 per cent of each loan’s value. But on smaller down payments and larger loans, the fees can mount to 3.6 per cent — more than six times as much as the lowest rate.

In an expensive market such as Toronto, for example, where the latest figures show the average house price is $730,472, a borrower with a small down payment of less than 10 per cent would have to borrow $682,425 to buy the average house in that city, mortgage comparison website RateHub.ca calculates.

Under current rules, the CMHC charges 3.6 per cent to insure that mortgage, or $24,567 over the life of the loan.

Under new rules starting March 17, the CMHC will charge four per cent of that loan’s value to insure the loan. That pushes the premium to $27,297, an increase of $2,730 or $12 a month.

Different borrowers will pay different amounts depending on how much they are borrowing, and how much equity they have.

The fee changes are outlined below:

CMHC MORTGAGE INSURANCE PREMIUMS RISING

CMHC says the average loan on its books is for about $245,000. It expects the changes announced Tuesday to work out to an extra $5 a month, on average, per borrower.

“We do not expect the higher premiums to have a significant impact on the ability of Canadians to buy a home,” said Steven Mennill, CMHC’s senior vice-president of insurance. “Overall, the changes will preserve competition in the mortgage loan insurance industry and contribute to financial stability.”

How to score the best mortgage to wipe out that debt

The changes will only affect mortgage applications received as of March 17. Anyone who already has a mortgage or has applied for one will be grandfathered into the old rates.

As of Jan. 1 of this year, Canada’s top banking regulator the Office of the Superintendent of Financial Institutions (OSFI) requires banks and insurers to hold more capital against the mortgages on their books. One of the easiest ways to do that is to pass those costs on to borrowers by charging them more to insure loans.

The last time the housing agency hiked premiums was in 2015, when it hiked premiums by as much as 15 per cent for some borrowers.

Contact with our Fort McMurray Realtors to learn more about this new announcement from CMHC and how your home buying can affect from this.

At last 2016 is in the rear view mirror! It’s been a tough one for Fort McMurray folks and most are glad to say goodbye. As we do so we would like to reflect on a few of the many things we are grateful for. For the great strength that we found in ourselves and each other during our most difficult times while fleeing a massive fire that decimated the community we love. For shoulders to lean on and the gracious and giving hearts of strangers we now call friends that reached out to the Fort McMurray community in our time of need. For the hope that inspires us as we work through the difficulties of the rebuild.

We look forward to the coming year. As we do we are reminded that many are still in need and not in their own homes. 2017 will be full of challenges to be sure, we want you to know we are here for you!

The Fort McMurray Real Estate Market will be forging new unprecedented ground this year as we enter the rebuild process aggressively in the coming months. There will be new opportunities and challenges. As a home owner it may be important for you to keep informed.

Our group will be monitoring the market, building on our preferred trades and trusted builders list from amongst the most reputable home professionals.

Please feel free to reach out to member of our group for information. No question is too small and we are here to help.

THE NUMBERS ARE IN…Here are January 2016 Fort McMurray Real Estate Stats

TOWNHOUSE CONDO
Active Listing 85
Average Sale Price $399,625
Number of Sales 4
Average days on market 345

SINGLE FAMILY HOMES
Active Listing 382
Average Sale Price $631,014
Number of Sales 32
Average days on market 143

MOBILE WITH LAND
Active Listing 47
Average Sale Price $364,667
Number of Sales 3
Average days on market 44

DUPLEX
Active Listing 69
Average Sale Price $505,000
Number of Sales 2
Average days on market 370

APARTMENT CONDO
Active Listing 124
Average Sale Price $333,725
Number of Sales 4
Average days on market 225

*The interpretations of the data are the opinion of Susan Lore and may not the views of the board or its members.

Whether you’re a developer, investor, home buyer or seller, contact The Fort McMurray Real Estate Specialist at The Lore Group today and let us show you how we can work for you.

SMART HOMEBUYERS DOWNPAYMENT PLANS

It’s not quite time yet but you’re beginning to think seriously about buying your first home. Among your early considerations are how much home you will be able to afford and how you are going to finance your purchase. You’ve heard about the Home Buyers Plan (HBP) and the Tax-Free Savings Account (TFSA) and you’re wondering which of these might be the best home-financing option for you. Take a look at both options:

HOME BUYERS PLAN (HBP)

Did you know you can use your RRSP savings for a DOWN PAYMENT on your home?

With the federal government’s Home Buyers’ Plan, you can use up to $25,000 of your RRSP savings ($50,000 for a couple) to help finance your down payment on a home.

To qualify, the RRSP funds you’re using must be on deposit for at least 90 days. You must also provide a signed agreement to buy or build a qualifying home.

The best part is the withdrawal is not taxable as long as you repay it within a 15-year period. The payback amount is at least one-fifteenth a year of the amount you withdrew from your RRSP.

Using your RRSP’s as a downpayment may be a great option as you have the ability to draw from some of your existing resources and it might possibly allow you to put down the 5% required to finance a home or accumulate the 20% down payment needed to avoid having to pay default insurance premiums. Even if you already have enough money for your down payment, it may make sense to access your RRSP savings through the Home Buyers’ Plan.Tax-Free Savings Accounts

TAX FREE SAVINGS ACCOUNT (TFSA)

There are No “first-time home buyer” restrictions and No dollar limits on the amount you can use. There is no requirement to repay your TFSA withdrawal, so you won’t encounter tax issues down the road.

You can use either or both of these options to help you buy your home. Chat with a mortgage professional to find out which options might work best for you. The Fort McMurray Real Estate market has some fantastic bargains for buyers. Now could be the perfect time to buy a home.

One of the most functional rooms in the house can often be one of the most dysfunctional: the laundry room.  From clothes piled high, stale fabric softeners and leaky detergents galore, our laundry rooms can have some dirty secrets. Here are 7 laundry room ideas to help clean up your laundry act.

We’ve heard of double ovens, but double laundry? This is a phenomenal solution for a large family of hockey players, or a household with plenty of guests. This Miami Beach home is listed by Jill Hertzberg with Coldwell Banker Residential Real Estate.

Clean Clothes, Clean Lines

Here’s a Bright Idea: Natural Light

Storage: More is More 

Consider a Calming Color Palette

Create a Folding Station

Pack a Big Punch with Little Touches

Contact The Lore Group today and let us show you how we can work for you.

This month, we’re especially thankful for home. Home is where the family comes together, where we’re protected from the elements, and where love abounds. Your home’s November Honey-Do list will make sure your home is ready for the holidays, prepared for colder weather and loved inside and out.

1. Winterize your home – For most of the country, November is the time when we can no longer deny that the colder weather has settled in. Now is the time to winterize summer tools and appliances like air conditioner units, grills and lawn mowers. Bring garden hoses indoors and check your windows and doors for drafts.

2. Make a Turkey Game Plan – No coach would head to a big game without a game plan up his sleeve. Likewise, no chef should hit the kitchen without thinking through the menu and timeline first. Determine what menu items you can make ahead, decide what responsibilities you can delegate, and take an inventory of your pantry and china cabinet. Oh, and now’s the time to clean that oven, too.

3. Polish the Silver and Dust off the China – Thanksgiving is a special meal, which deserves the best of your entertaining arsenal. Because we don’t often use our special dishes year round, it’s smart to give them a good deep clean and polish before setting the table on Turkey Day.

4. Give your living room a refresh – With the holidays ahead, your living room is sure to get plenty of use. Give the space a refresh by changing out the window treatments for a new look.

5. Use some pest control – Rodents and other pests are opportunistic and seek warmer environments when the temperatures drop. Be sure that they don’t call your house their home by implementing these 5 surefire tricks to pest control.

6. Clear out the gutters – Avoid drainage problems and damage to your home’s foundation by clearing out the gutters before snow and ice wreaks havoc. Here is an easy how-to guide to cleaning rain gutters on your home.

7. Be ready for snow – Before the first winter storm, it’s a good idea to make sure your snow shovels and/or snow blower are in proper working order. Ready to invest in a snow blower after the brutal winter last year? Here is a buying guide from Home Depot that will help you make an educated purchase.

8. Start tackling the December to do list – The holiday to do list is notoriously the longest of the year. Get a head start by ordering your holiday cards, updating your address book, and making a gift wish list for each of your family members NOW. You can even start stringing twinkle lights on your shrubbery before the deep chill sets in. After all, the most important part of the holidays is taking the time to enjoy our family and friends.