Curtis Leibel 780-438-2500

I have a brand new beautiful townhouse listing in Victory Village.  This updated 3 bedroom 3 bathroom home with attached single garage has everything you need.  The main living area has hardwood flooring, tiled fireplace and updated colors and trim.  There is a large galley kitchen with lots of cabinets and an adjacent dining room with tile flooring. 3 large bedroom upstairs as well as walk through closet and full 4 piece ensuite off the master bedroom.  All the appliances have been updated, as has the hot water tank.  Additionally, there is a recently finished bonus room in the basement that can be used as a tv room, office, or even an exercise room.  With an unobstructed view of greenspace directly behind the unit, this is one of the most desirable units in the complex.  For more pictures, look online at E4050527 or call/email for more information.

When looking at purchasing a condo, it is important to include a review of condo documents condition.  This allows perspective buyers the opportunity to do their due diligence and look into the condo corporations financial position.

Attention to detail is necessary for this, and I often advise clients to seek the help of professional companies trained to review these sort of financials.  Either way, here are some of the documents you can expect to come across while reviewing:

1.  Information statement – particular information about the unit itself (ie. exact condo fees, any law suits against it, etc…)
2.  AGM – minutes from the latest Annual General meetings which all owners are invited to attend.
3.  Monthly meeting minutes – Most complexes will hold monthly meetings to tackle ongoing concerns.  Smaller units may only meet every 3 or 6 months, but all minutes must be held on record.
4.  Monthly and annual financial expenses and budget for the next year.
5.  Reserve fund Study – Basically a professional inspection of the exterior of the building.  All condos must have this completed every 5 years.
6.  Certificate of Insurance – all condos need to have insurance and provide evidence of it.

Although this list is not inclusive, these are the major items you can expect to have provided to you to review before proceeding with your purchase.

Wow – happy to announce a huge $15,000 reduction on our listing at 9331 – 172st.  Now at the smoking price of $199,500 this home will be sold in no time.  In case you missed it, here are the details:

Rare top floor end unit with large south facing balcony.   Pride of ownership is apparent when you walk in the door of this 2 bedroom + den home.    With a large open layout, the main area boasts a large living room and dining room centered around a tastefully tiled fireplace.    The kitchen has upgraded cabinets, a large pantry and loads of counter space.  A unique hand painted moveable island with granite countertop and breakfast bar finishes off the space sure to impress any cook.  The generously sized master bedroom has a large walk-in closet & ‘Jack ‘n’ Jill attached bathroom. The Second bedroom comes with ample closet space. The den, with glass French doors, has built in cabinets and is currently being used as an office could easily be converted into a third bedroom.  The complex has brand new deck railing and duradek and is now ready for you to enjoy in a private setting.  The unit is also one of only four in the entire complex to have its own parking stall directly in front.  Walking distance to Terra Losa shopping Ctr and West Edmonton Mall. Close to Schools, Miserecordia hospital and all amenities. Now underpriced at just $199,500!

Brand new beautiful coach home listing in the west end.  This is actually my 3rd listing in this complex in the last few years, the whispering willows.  This well run complex is in great shape, has low condo fees and is in a great location, near west edmonton mall, Terra Losa shopping center and many major commuter roads.  It is one of the rare top floor 2 bedroom + den units at the end of the complex and is meticulously maintained.  Large open layout with updated kitchen, island and breakfast bar with granite countertop.  Boasting two grand bedrooms and a den with french doors and built in cabinets.  This is a must see, and wont last long at a listing price of $214,900.

Every time an offer on a home occurs in the province of Alberta, it only becomes legally binding once some sort of financial consideration has been made- ie. a deposit.

As discussed in the previous post, part of making an offer is giving a deposit.  This deposit can be anywhere from 1 dollar to the full purchase price.  However, a common deposit may be somewhere around $2500-$10000 on a house under 500,000 to $20,000-$50,000 for a home over $500,000.  These amounts will vary and are all part of the negotiating process when presenting an offer.

The way the deposit works is this – once an offer is accepted, the deposit is given by the buyer and held in trust by the sellers real estate company.  Now most likely your offer would have conditions on it.  If everything is fine and you are able to remove conditions, your deposit is forwarded directly to the sellers lawyer who will then hold in trust until possession.  This deposit counts toward whatever downpayment you will putting on the house.

If for some reason, you can not remove conditions, the deposit will be returned to the seller in full.  NOTE:  As long as you are abiding by the terms of the legally binding contract, the deposit will be returned.  If, for example, you have only a financing condition on the property, but as you were waiting to go through with the deal, another WAY better house that you prefer comes on the market so you decide not to remove your finance condition and buy the other one instead, the seller has a strong case to hold your deposit.  In this case you are able to meet the conditions (able to receive financing on the property) but choose not to proceed for other reasons, so you are in fact breaking the terms of the contract.

The deposit is designed to protect the rights of the seller, as well as demonstrate the willingness of a buyer to proceed with a purchase.  99 out of 100 times things go as planned, but as both a buyer and a seller, it is in your best interest to know all scenarios that may affect you should something go awry.

I have a beautiful half duplex for sale in the up and coming community of Laurel.  If you are tired of the seeing the same style duplex over and over, you will be blown away by this one.  The upgrades total over $45,000 and include (but are not limited to) :

– dark hardwood

– custom cabinets

– quartz countertops

– undermount sink

– double door fridge with water dispenser

– natural gas stove

– slow close pullout cabinets

– hidden pantry

– raised bowl sinks

– rain shower head and spray unit

– front load washer and dryer

– oversized 65 gallon water tank

– retractable screen doors on front and back.

-detached double garage, fully landscaped and fully fenced

The list goes on an on!  Come check out this modern one of kind duplex and you will not be disappointed.

My fantastic new listing is now completely finished in the widely desired Windermere area.  Almost 3100 square feet of custom building.  The features are too many to list on this blog alone, but includes:  3 car garage, walk out basement with nanny suite, 6 bathrooms, 4 bedrooms upstairs and one in the basement and backing onto green space.  An incredibly unique building with so many energy efficient upgrades including 2X8 framing, underslab insulation, extra attic insulation, triple pane windows, and a HRV unit – you can have it all and still be enviromentally friendly.    Don’t delay in viewing this, it is truly one of a kind and wont be around long.

With the flooding occuring in Calgary I have been recieving alot of questions about Real Estate.  Along with the devastating losses of personal items, people are also concerned about the loss of Real Estate and how the economy will be affected by it.  While it is impossible to predict what lies in the years to come for the affected areas, it is not inconcievable to think that housing prices in the immediate area will decrease dramatically as it slowly rebuilds/renews itself, while prices in surrounding areas will increase as a result of a shortage of housing with many people being stranded.  It is unfortunate to think about this early in the recovery process and only time will tell as things progress.

As for transactions that were pending (ie. sold but just waiting for the possession date) many people are wondering what will happen with the sale of their existing homes that may no longer exist, or need extensive repairs.  As is, the current rule with insurance companies is that if flooding is due to back up of sewer, claims will be covered, whereas any flooding that occurs through windows and doors is considered an act of God and therefore not insurable.  It is up to the insurance companies to decide who is covered and who is not.  Ultimately, the government will be providing extensive flood relief to individuals affected as well, however in many cases this will not be enough to cover the majority of expenses.

As for pending transactions, all affected individuals are advised to contact their Realtor and each transaction will be dealt with on a case by case basis.  It is impossible to determine how each one will play out and depends more on how the clients wish to deal with it.  If you have any questions yourself about what may happen in the case of natural disaster, feel free to contact me to discuss further.

Breathtaking view from new listing on the 19th floor in great building downtown.  Here are the details:

This 2 bedroom, 2 bath, 19th floor condo has been completely renovated.  New kitchen with quartz countertops, undermounted sink, high gloss cabinets, new stainless steel appliances, and stainless backsplash.  New laminate floors, new bathrooms (Master ensuite has walk-in shower), new light fixtures and all freshly painted.  The Gainsborough is an 18+ building with a laundry on each floor, fitness center, guest suite, social room, workshop, and underground assigned parking. The outdoor space is beautifully landscaped complete with a barbecue area and  gazebo.  Fabulous location, convenient to art galleries, restaurants,shopping and public transportation.

Beautiful new condo listing right in convenient location downtown.  This large 3rd floor one bedroom corner unit was almost completely redone with new laminate throughout main area, carpet in bedroom and heated ceramic floors in bathroom!   A great layout includes a bonus den area off the living room.  Tastefully finished with a new maple kitchen and black appliances as well as a pantry.  A modern tiled bathroom also boasts heated floors!!  Other features include a built in gas fireplace, an alarm system, and a delightful balcony in the front. To top it off, this rare find comes complete with insuite laundry. This location offers great access to LRT, downtown, river valley and the proposed new arena. Please hurry to look as it wont last long!