Curtis Leibel 780-438-2500

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!

When looking at purchasing a new property, whether as an investment property or a principal residence with a significant other, it is important to know what would happen in the case of an unexpected death.  When you go to sign the papers at your lawyers, and there will be more than 1 person on title, you will be asked if you would like to be Joint tenants or Tenants in Common.

Joint tenancy – neither owner has their own divisable share of the property. In this case they both have full possession of the whole land/building.  This means that each owner has a “right to survivorship” – if one joint owner passes, their interest in the property is completely dissolved and the surviving owner takes over 100% ownership.

Tenancy in Common – In this case both owners hold rights to their own divisible share of the property.  Most often this is 50% each, but can be set at whatever percentage the two or more owners agree to at the time of signing.  Each owner has their own share in the property and can do what they want with their share without the consent of the other.  If one owner were to pass away, their share in the property will be passed on to the beneficiary in their will.

There are definite advantages and disadvantages to each scenario, but when deciding which is best for you it is important to plan ahead in the case of unexpected death of one of the owners.  For example, if the other owner dies in tenants in common scenario, do you know who will be the beneficiary?  What happens if the beneficiary decides they want to sell, even if it will be at a loss?  Likewise, if you unexpectantly die in a joint tenancy scenario, would you trust that the other owner takes full control of property (including profits) and your wife/husband/children potentially recieve nothing?

Ultimately it is important to discuss all your options with your lawyer before you sign off on possession of a new property to ensure that you protect you and your families best interests in the event of an unexpected death.

Welcome to the latest installment of foreign investments!  This time my research takes me to the beautiful land of Belize.  For those who dont know, Belize sits right below the Yucatan Peninsula of Mexico, not far from such beautiful resort cities as Cancun and Playa Del Carmen.  A smaller country, with most of the population residing on the coast, Belize is made up a combination of Spanish, Mexican, Mayan, African and British nationalities.  The national language is English (although most natives speak Creole as well) and the currency is a Belizan dollar which mirrors the American dollar 1:2 at all times.

My general feeling for Belize is that it was a expat hotspot in the late 90’s and early 2000’s and thus started to see alot of real estate growth (under heavy north american influence).  Things were booming and prices for lots and houses were skyrocketing as they were being built.  Then 2007 arrived, money became tight, and alot of houses or developments were left abandoned or unfinished.

That being said, I think it is a great opportunity to enter the market now, as investors slowly start to come back.  Most communities have all the amenemities already and it is only a matter of time until the growth returns.  My professional real estate opinion of buying real estate in Belize – although there isa somewhat high price to get into the market (compared to other central american locations) I think you will still see significant growth in your investment over the next 10-20 years.

The other opportunity that still exists in Belize is buying Islands (or Cayes as they are called there).   There are hundreds of tiny cayes riddled within a short boat ride from locations such as Belize City and Placencia that are somewhat easily accessible.  Prices range anywhere from 100,000 to 1,000,000+ depending on size and location, but for someone looking to get away to there own secluded island in the Caribbean, this would be an ideal place to start your search.

Let me know if you have any more questions, or want me to put you in contact with a Realtor working in Belize.  Thats all for now!

Definitely one of the neatest townhomes Ive seen.  Located in a prime location in Oliver just one block off Jasper ave, these cute 2 storey walk up townhomes are quite unique.  You may recognize them as having a large bubble window off the front if you’ve ever walked past them before.  Totally renovated 2 bedroom, 2 bath with all new hardwood and carpet as well as a totally contemporary modern kitchen complete with foot pedals for the kitchen sink!  If you are looking for something affordable, unique and downtown, this could be your unit!

New Listing up in the beautiful community of Hazeldean. 3 bedroom, 1000sq ft home almost completely renovated. New bamboo hardwood throughout, all new kitchen and bath, stainless steel appliances, paint, trim and fixtures as well as a brand new furnace, upgraded electrical and shingles on house and garage. All this for just 345,000

I have a fantastic new listing coming on 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.   Truly one of a kind.

If you have read this blog in the past, you will know that every time I take a trip, I look into the real estate situation while I am there….not only to learn more about how real estate works in other countries, but also to try and find new investment opportunities.  This trip takes us through Guatemala and Mexico.

GUATEMALA:

First off – one of my favorite countries in central america!  Some of the most beautiful secluded beaches in the world, in one of the cheapest countries.  The problem here lies in the fact that it is difficult for a foreigner to actually own land.  Well, its difficult for locals to even own the land.  I didnt get to do a lot of research in the cities, but it seem like the rural and coast areas follow the same principals- in that all the land is technically government owned, but basically lent out to the resident if they have been there for 10 years or more.  They still have “title transfer” and you can technically own the land, but if you aren’t a resident, aren’t consistently at the property, or there is a radical government change, you could run into some difficulties.  That being said, Guatemala is a very stable country right now and the people are incredibly friendly so the likelihood of anything happening is very slim.  That, combined with a low investment amount (ie. beachfront property can be bought for 10k or less) make this a palatable risk.  As always, I would recommend getting well acquainted with the people and the area before making any decisions.

Mexico:

I also had the chance to spend significant time in San Jose and Cabo San Lucas.  This area is growing fast with new resorts, condos and developments being built everyday.  There is a significant amount of American and Canadian investment in this area, and it is very easy to do.  There are many reputable real estate agencies here, and if you get hooked up with the right people, investing here can be very easy and with little risk.  You will find many of the amenities of home here (supermarkets, golf courses, chain restaurants) so it truly is home away from home for many – except nicer weather!!  In terms of investment, Its quite reasonable to think that with all the building and migration here prices will continue to increase.  With these amenities, however, come higher purchase prices.  Condos in gated communities will run in the 150-225k range and houses 300k – infinite with a range of everything inbetween.  Its a beautiful place and great place to look at investing in with a slightly higher investment commitment.

I am proud to announce a new listing coming up with a fantastic new builder from Madison Park Custom Homes.  Check them out at http://www.madisonparkhomes.ca/

This beautiful custom home is nestled in a cozy little cul-de-sac between the North Saskatchewan River and the serene Windermere Ravine.  This huge 780 sq meter lot features a SOUTH facing back
yard overlooking a Tranquil park.  Relax in the back and gaze out in the vastness as the world goes by.

Stay tuned as more information about the home is finalized.  If you want to have a say in the design, contact me now!

Real estate is a rare investment where in almost all cases, over an extended period of time, you can expect the value of your property to increase.  There are of course exceptions to the norm (industry fueled areas where resources have been depleted, natural disasters, etc…) but generally an investment in a home will increase over the long term.  Thus, the decision between buying a used home vs. building a new home is often a tough decision to make, because unlike a used car, you are not getting a discount because the home is older.

Keep in mind that everybodys situation is unique to themselves, so something seen as a positive for some might be seen as a negative by others.  Here is a quick list of factors that may or may not make one seem more appealling to you than the other….

BUILDING A NEW HOME

Maintenance:  has that new home smell  😉  There is alot of comfort knowing that when you move into a new home there will be very little maintenance or large expenditures on repairs.

Cost: You are usually getting a lot more house for less money

Location:  Unless you are spending big money on tear down lots in the center of the city, new homes are generally located on the outskirts of the city

Resale: If you are looking to sell in the near future – the other houses in the development are very similar so there is not much to seperate one from the other.  This can be good or bad.

Equity: Unless you plan on finishing a basement or building a suite, other than time there are not many ways to help your property appreciate – therefore your investment is based solely on the trends of the market.

Initial move in period:  Could be lots of mud, machinery, and noise as other houses in the community are being built.  There could also be settling issues that arise over the first few years.

New Home Warranty – alot of builders provide a new home warranty which protects the home for the first few days

Possession day:  Could be delayed because of finishing delays

Bonus: you know that no one has ever lived in this house before and it is all yours!

BUYING A USED HOME:

Maintenance:  obviously depends on the age of the home, but you can expect a lot more work and upkeep.  There could be some large expenditures in your new future (ie. shingles, furnace,etc..)

Cost:  Surprisingly quite often the cost of an older home is the same or more than that of a new build.

Location:  One of the reasons the costs are higher is usually because the location is better and the neighborhoods are more established.

Resale: There is a lot more variety in houses in the established neighborhoods.  It makes it harder to predict the value of your home, but also provides a lot more variety for the buyer.

Equity:  If you are willing to put in some sweat, buying an unrenovated home is a great way to build equity and make a home that suits your needs and tastes.

Initial move in period:  Still susceptible to the nuiances of the community, however often they are more predictable and less extensive.

New Home Warranty – other than Real Property Reports that carry level some of protection, buyer beware!  If the furnace breaks the day after possession its on your dime.

Possession day:  Could still be delayed by financing issues or residents moving out, but much less common.  You can expect to do alot more cleaning on move in day as its always a guess as to how clean the previous owners have left it.

Bonus: There is a lot more variety in location and style of houses if you are willing to look in different areas and time periods.

These are some of the major factors when considering whether to buy old or build new.  As always, we are just brushing the surface, so if you have any more questions dont hesistate to give me a call!