Selena News January 2017
ISSUE: 104, 2017
Buying Foreclosure Properties
Many Investors want to find Foreclosures, thinking that is the best way to find great opportunities. They believe the price is well below market value, and often it is, but there are a few things you should know first. There are two main types of foreclosure. A Bank Sale and a Court Sale.
In a Bank Sale, the bank owns the property and you can submit an offer with subjects just like in a normal transaction. You can even negotiate on the price. The only real difference between a Bank Sale and a normal transaction is you will have to write it up on a Purchase Agreement that the Bank has approved (supplied) and include Schedule A (also supplied). You are buying the property “As is, Where is” with no warranty from the Seller. If you are buying a Condo, you can put subject to “Condo Documents review”, but you have to obtain the documents at your own expense as the Seller will not provide any. Also, you can not ask for any unattached goods, (fridge, stove, washer, dryer etc) or an RPR either (Real Property Report). So if this article hasn’t put you off and you are still interested in Foreclosure Properties, reply to this email and we can send you a list of currently available Foreclosure Homes.
Next month I will cover Court Foreclosure…
Parenting And Money Mangement
When Fionna turned two, we gave her 3 Piggy Banks. Silver for investment and saving, Red for toys and Gold for Charity.
She normally saves a dollar a day in the Silver bank. Occasional we will give her more money, so she will split 70% Invest & saving , 20% to toys and 10% to Charity. Whenever she want to buy toys in the store, we always ask her, “Do you have money to afford it?” Next, we suggest she go home and count the money and if there is enough money, she can come back and buy the toy. This is great way to delay the buying desire, and teach little ones money management. We feel it is important lesson to teach our children how to manage and budget money. This is true life lesson, and yet not too many schools teach it.
What Do You Value?
I was talking to my client’s teenage daughter about her school. Turns out she doesn’t like math, but she has to pass math in order to get in to U of A. During the conversation I found out that she wants to be a teacher, and to teach young children. She also mentioned her school teachers especially math teacher, didn’t know how to teach. After I figure out her motivation (Values) I asked her what would happen if she learnt how to better communicate with her math teacher by asking better questions. By helping her Math teacher be a better teacher it helps her in both math (now) and being a teacher (future). She can now see and feel how wonderful passing the Math Exam at end of the semester will be by changing her attitude from hate math to Fun and Easy.
Latest Sales Data
Every Month the Edmonton Real Estate Board gathers the latest sales figures sorted by property type, price ranges, listed and Sold. Click the above link to download a copy from our website.
Housing Trends
Its one thing to download the latest sales figures from Edmonton Real Estate Board and its another to actually understand what all the numbers mean. Click the above link link for a summary from the President of the Edmonton Realtors® Association, or reply to this email and we will be happy to discuss it with you or provide sales figures for different months.
Pocket Listing
Exclusive listing. You will not find this opportunity on the MLS.
Cirque Du Soleil
Last month “Cirque Du Soleil – Toruk” was playing at the new Rogers Place, Downtown. What a brilliant show. Fionna loved it, and after the show, we showed her age appropriate parts from the movie Avatar, so she has better understanding. The next couple weeks involved Fionna running around with a blue tail. At her age, it is very important to encourage her imagination. Cirque Du Soleil is a great show for everyone.
Disclaimer: Not intended to solicit buyers or properties under contract.
This article contains the opinions of Andrew Barrett and Selena Cheung. Licensed Realtors® with COLDWELL BANKER Venture Realty.
The trademarks REALTOR®, REALTORS®, MLS®, Multiple Listing Service®, and the associated logos are controlled by
The Canadian Real Estate Association (CREA) and identify real estate professionals
who are members of CREA or identify the quality of
services provided by Real Estate professionals who are members of CREA
Copyright © 2019 Wealthyhome. All rights reserved.
This article contains the opinions of Andrew Barrett and Selena Cheung. Licensed Realtors® with COLDWELL BANKER Venture Realty.
The trademarks REALTOR®, REALTORS®, MLS®, Multiple Listing Service®, and the associated logos are controlled by
The Canadian Real Estate Association (CREA) and identify real estate professionals
who are members of CREA or identify the quality of
services provided by Real Estate professionals who are members of CREA
Copyright © 2019 Wealthyhome. All rights reserved.