OVER 10 YEARS EXPERIENCE IN CALGARY

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Overview

Buying and selling in todays rapidly changing Calgary Real Estate Market can be risky, stressful and when done right, it can be rewarding and memorable.
Jesse Davies & Associates has over a decade of experience in helping Buyers and Sellers in Calgary. This page is meant to help answer questions we have encountered over the years of helping our clients. Let us help navigate you through the experience as well. We are here and happy to help!

BUY QUESTIONS

SELL QUESTIONS

As a top producing real estate agent with over 10 years of experience, what is the best piece of advice you can give to first time home buyers!
I can remember purchasing my first home and I can also remember doing my first deal both of which came with a lot of nervousness, excitement and risk. This being my 11 year helping clients purchase their first homes the #1 thing I can recommend to them is to hire an experienced agent that can relate to them and wants to work with them. I see so many real estate agents that push lower budget or first time buyers to the way side, make sure you work with an agent that values your business can relate to your situation and can have fun doing it with. Remember buying your first condo or home will only happen once so make it a memorable one. If you thinking of purchase your first home or condo give me a shot I promise to make it a memorable one for you to remember for many years to come.
Is now the right time to buy?
Whenever my buyer clients ask me this, I normally need to assess a few things about their particular situation. First, have you been pre-approved for a mortgage? With the new mortgage rules, stress tests and interest rate increases, it is imperative to know what is the max purchase price that your mortgage broker has confirmed you at. Just because you are pre-approved at a certain price does not mean you need to buy a home at that price, if you are uncertain about the Calgary market and or your job, this can get you into trouble down the road if you were to buy a home at your max pre-approved price. With interest rates on an upward trend, home prices on a downward trend, there is no crystal ball as to what is going to happen to the Calgary economy, but I am a firm believer in the quote “buy real estate and wait - don’t wait to buy real estate”. History has proven time and time again that if you are holding a real estate asset for more than 5 years, your chances of the value going up are a lot greater than it going down, especially if you get the right advice from your realtor on location, functionality and re-sale value. The Calgary market has been in a lull the last few years and 2019 started off no different with the condo market really taking a beating, we are now seeing this downturn spread to the detached market with record levels of inventory and record low sales. If you’re a firm believer in how beautiful the city of Calgary is and the likelihood of migration from other countries and provinces, the market will come back as we adapt and ween ourselves off being so dependant on the oil and gas industry. Having said that if oil were to ever make a run back up I think the returns would be huge. Contact me today to discuss your particular situation and lets navigate our way through helping you make an informed decision if now is the time to buy.
When previewing a home in Calgary, what should I look for?

In addition to comparing the home to your minimum requirements and wish lists, consider the following:

  • Is there enough room for both the present and the future?
  • Are there enough bedrooms and bathrooms?
  • Is the yard large enough?
  • Do you like the floor plan?
  • Will your furniture fit in the space?
  • Is there enough storage space?
  • Imagine the house in good weather and bad, and in each season. Will you be happy living there year-round?
What is title insurance?
Title Insurance is similar to a standard insurance policy and serves many purposes, for example:
  • Protecting against title defects or encumbrances that were unknown and undiscovered at the time of closing
  • Reducing the risk of title fraud
  • Protection against identity theft and mortgage fraud

Title Insurance is available when purchasing a new home, a resale home or at any time during the ownership of a property to safeguard your home. The effects of title fraud are serious and long-lasting. The cost to correct or reclaim your title can amount to thousands of dollars in legal fees and can cause significant financial and emotional strain for many years.

Jesse Davies & Associates are here anytime should you have any questions regarding Title Insurance and all other real estate matters.

Here is an example of a situation that would warrant title insurance:

After moving into an existing home, Max receives a notice from the municipality requiring him to obtain a building permit for a family room addition the previous owner built without a permit. Max hires a contractor to inspect the addition. The inspection report recommends the demolition of the addition. Title insurance may cover the cost of demolition and the loss of property value or the cost of reconstruction
What is a Comparative Market Analysis (CMA)? 

CMA is a document prepared by your REALTOR® to help determine the selling price of a home by comparing it to recently sold homes in the same area. In a CMA, Real estate professionals analyze the price of recently sold, actives, and expired listings that are similar (comparable) to the home they’re trying to sell. At Jesse Davies & Associates we try to use the most recent sales as comparables and make adjustments to our client's homes based on (but not limited to) square footage, basement development, lot size, number of bathrooms, upgrades, garage and lot location. Jesse Davies & Associates has a licensed Real Estate Appraiser on the team who helps the team with adjustment amounts and collaborates with us to confirm our valuations. It is important to note that active listings do not factor in the end value but all active properties are reviewed with our clients as it is important to know who your competition is when listing ensuring a buyer chooses your home over another.  All of our standards, guidelines, and adjustments are in accordance with the Appraisal Institute of Canada. This is a distinct competitive advantage we have over any other real estate agent in the city and our clients love the idea that they are getting more than just a Realtors opinion of the value of their home.

 

Should I sell my home first before I buy?

Most of the time the answer is yes. It is more beneficial to list your home for sale before you commit to purchase another home. Why we recommend this procedure is because you don’t want to get caught carrying two mortgages, should your first home not sell before you take possession of your second. Also if you purchase your new home, you may want to have a sale of home condition which may decrease your chances of getting a better deal on your new home because of this limiting condition which most home sellers are not excited to have to accept. Once we start marketing your property to the public, it’s also a great time to start researching what kind of home you want to purchase down the road. Once a final sale is agreed upon and your current home becomes under contract, that’s a great time to start viewing properties to buy! We pride ourselves on helping our clients make a smooth transition.

How effective is having an open house?

Great question! An open house benefits both the Sellers and the Buyers. In general, an open house is a critical part of marketing to drive activity and increase competition among potential buyers. Also, the level and degree of interest will tell the Seller if the price and promotions are reasonable. Lastly, an open house provides face-to-face feedback on the property which the Realtor can make suggestions on tune-ups back to the Sellers and address any questions arise by the Buyers on the spot.

Ask your question for a chance to win!

TESTIMONIALS

Calgary Real Estate Stats for the Month of November

Challenging economic conditions continue to impact the resale market for another month in the Calgary Real Estate Market. As inventory…
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Calgary Chinatown (卡加里華埠)

Calgary’s Chinatown (卡加里華埠) was officially founded in 1910 and celebrated its 100th anniversary in 2010. With growth and prosperity, Chinatown…
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What Is The Difference Between City Assessed Value vs. Market Value

Understanding a home’s true market value is about more than pictures, software assessments and price-per-square-foot. Whether you’re a current homeowner…
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Calgary Stats for October 2018

City of Calgary Real Estate Stats for October 2018 as reported by the Calgary Real Estate Board courtesy of JD…
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