Real Estate Blog / Data - Matthew Dekort's Blog

All Blog Entries by Matthew Dekort

Found 12 blog entries published by Matthew Dekort.

When you are buying your new home, you are faced with a bewildering array of specs, guidelines, options, and pricing. Some builders take advantage of this, and put in something that LOOKS like what you've come to expect.  One of the substitutions COSTS the builder less, but COSTS you much more in the long run.  Hot water heaters:

 hot water heaters

 

Notice any differences?  Let's eliminate the tankless and the small units (more for offices), and show just 2 options:

electric and n.gas tanks

They LOOK almost identical.  The biggest difference is one is ELECTRIC and the other is NATURAL GAS.  If you aren't paying attention, you won't notice the lack of exhaust or the missing gas line on the electric.

The electric one is cheaper to buy (Rheem 40 Gal electric is $448 @ Home

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I wanted to explore a little more the FINANCIAL ramifications that Slokker's redevelopment of Lakeside Greens COULD have on the people living in the area.  Short answer, likely a $39 000 price plunge; could be as high as $61 000.  OUCH.

Lakeside Greens golf course in Chestermere is partnering with Slokker to redevelop the course. Essentially fairways to townhomes. IF the city agrees, the price plunge could cost families an average of $39 000 per house (or MORE).

I want to emphasize that the redevelopment is NOT approved by Chestermere, and active community involvement will help craft the guidelines under which council approves any redevelopment, and the final plans.  I encourage anyone in the area to become active in this matter.  Too much

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It turns out that some common advice that almost all agents, including me, have been wrong about over the decades is the wisdom of purchasing on a golf course WITHOUT examining how financially solvent that course is. Every year it seems another course in the Calgary area fails; a whole host of reasons.

 Join me as we explore the recent past of some course, and the most recent golf course announcement (fall 2020).

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 Clients have asked me if I've seen an uptick in people wanting to move to rural, small town Alberta. It might make sense for some people, either as they've realized they might not NEEDED at their desk, are worried about Covid, want a slower pace of life, or simply the savings that come with leaving the big city.

 I explore the various options, how I'd choose which towns to live in, and what you could get buy for a LOT less than your current home is likely worth.

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JayMan is the first major builder in Alberta that has fully endorsed solar. Kudos to them for taking a big step. And it's gotten lots of press coverage, along with all the sales people in the showhomes pushing it as a feature.

 

But is it worth it?  And, how do we measure what something is worth?

  1. Is it just financial returns
  2. Are you willing to buy for the environment alone (ignoring the disposal and manufacturing of the panels)
  3. Or is it the self sufficiency aspect of knowing that you are WHOLLY reliant on the grid / others?

In terms of the last point, the self sufficiency, I like being self sufficient.  But in Alberta, even the biggest installation that could fit on my roof is NOT going to enable me to go off-grid in December. 

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Not much is written about HOW - TO successfully flip homes in Calgary.  Most agents just point you to some cheap homes, and say, fix them, sell them for more.  I think there has to be more to it.  More science.  More of a guide.  More steps.  So, I set out to start.  This is what I do for my FLIP clients.  Your agent might have other concepts, but this is what I consider advanced.

Here are my rules:

  1. buy in a good location
    1. ensure the home isn't on a major road and/or backs to major road.
  2. focus on the older areas. Think of the homes we grew up in or our grandparents owned.  Typically large lots.  Typically bungalows
  3. use area VALUE CHARTS to quickly identify which areas are possible to flip
  4. next, ensure that even if the value chart
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This post is time sensitive, with implications for your mortgage, cashflow, and credit for April - Sept 2020, all due to Covid-19.

 I am not a medical professional.  I know NOTHING about health.  There are hundreds of news stories out there about Covid-19.  Many more about government actions.  About social distancing.  This is NOT one of those posts.  It should also be noted, that as with everything Covid, the situation is fluid and changing.

 The federal government announced the Covid-19 Mortgage Payment Deferral Program.  Essentially freeing up extra cash flow for mortgage holders NOW, in the middle of the outbreak.  The best page directly from the government describing the program

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The Government Has Made Changes

In the government's never ending attempt to influence the market, control risks to the larger economy (bubbles in Vancouver / Toronto), spur / restrict the economy, encourage home ownership, fund budgets (BC speculator tax), and otherwise create headaches for people wanting to buy, this is a list of the changes wrought to the mortgage industry in the last decade:

Confusing? This is why I stress the importance of using an experienced mortgage broker.  Someone who tracks these changes.  So you don't have to.

 

 

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Many people complain about condo fees, without fully understanding WHAT condo fees actually are, what they do, or how they are calculated.  Let's review a few of these before deciding if the fees are "bad".

What are Condos First, a condominium is a form of group ownership. When you buy an apartment (lets say 100 units, all same size), you are not only buying your individual condo, but a type of real estate that makes you a PARTIAL owners in the ENTIRE building.  In the 100 unit example, you become a 1% in EVERYTHING, for better and for worse.   In real life, we typically break down the fees by the size of the units, with larger units paying more.

What Rights / Privileges / Responsibilities Your ownership stake allows you to vote for the board of

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Do you ever wonder how you’ll pay for your children’s education? Or your own retirement? The solution might be real estate. Consider:

FACT #1: “The Haves and the Have-Nots”
The gap between the rich and poor is growing rapidly. Top 20% average net worth family increased income by 80% over a dozen years; the rest averaged much less (38%).

FACT #2: Post Secondary Education is the Key
Earnings of full-time workers who have a college degree continue to accelerate faster than those with just a high school diploma. In 1979, the average college graduate earned 49% more a year on average than a worker with only a high school diploma. By 1994, the earnings gap had widened to 89%. Each year of formal schooling after high school adds 5% to 15% to annual earnings

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