Purrfect Properties Blog

Archive for July, 2013

Kitty Bits – Realtor Thoughts for a Sunday

Sunday, July 7th, 2013

Hello Folks,

I found the following and wanted to share it with you.  #Thingsthatmakeyougohmmm #realestatequotes

Realtor showing in Edmonton

Realtor showing in Edmonton

  1. “I am basically a full-time psychologist who shows houses every now and then.” -Dori Warner
  2. “To be successful in real estate, you must always and consistently put your clients’ best interests first. When you do, your personal needs will be realized beyond your greatest expectations.” -Anthony Hitt
  3. “Buyers decide in the first eight seconds of seeing a home if they’re interested in buying it. Get out of your car, walk in their shoes and see what they see within the first eight seconds.” -Barbara Corcoran
  4. “Buy land, they’re not making it anymore.” -Mark Twain
  5. “Don’t wait to buy real estate. Buy real estate and wait.” –Will Rogers
  6. “Find out where the people are going and buy the land before they get there.” -William Penn Adair
  7. “The best investment on earth is earth.” -Louis Glickman

 

How Big is Real Estate Risk? … A Realtors’ look into the 2013 Calgary Flood.

Tuesday, July 2nd, 2013

A Mitigated Risk.

That’s what they said when they decided to open the gates, knowing the result would be flooded neighbourhoods in Calgary.  They opened the gates anyways.  Within hours, the flash flood turned Emergency, covered homes and land within the city. In moments, people who resided in the area lost their belongings, inside and out of their homes.  You should know, insurance doesn’t cover ‘Acts of God’. A definition often defined by convenience and not circumstance.

My Grandpa owns and lives in one of those unfortunate homes in Bowness. When my cousin told me that she was Kayaking to his house I wasn’t fully appreciative of what that really meant.  A week after residents were allowed to go back into their homes, I went down to take a look at what was going on.

Calgary Flood 2013

A look down Grandpa’s road, complete with Porta potties and Volunteer Workers.

Now, volunteer efforts from supplying water, to cooking food, even to Edmonton Firefighters who showed up on his front step to do the heavy lifting have to be commended.  Thank you to all Edmontonians and Calgarians who ended up helping Joe, we sure do appreciate it.

Water in the basement.  Ha!  This has killed a deal for me in the past.  Small, tiny amounts of water, usually caused by a lack of eaves-trough headers or improper sloping around the home.  95% of all homes we inspect have improper grading. Gardens are recommended to be planted around the home to help with absorption.

Calgary Flood 2013

Even with planters around the home, the water level rose above them. See the line of markation above.

Grandpa’s home, did not have one drop of water come into the basement, before last week. Yet in one day, everything and I mean EVERYTHING below ground was wiped out.  Erased.  Gonezo’s.

Calgary Flood 2013

This WAS a fully finished basement with Sauna, Wet Bar, Laundry, Bedrooms and Bathrooms – ALL GONE!

Calgary Flood 2013

The place the stairwell to the basement used to be. Water went up to the basement ceiling!

So what  do you do?  How do you reduce the risk?  I say reduce the risk, because that’s just it… Real Estate Investing has it’s risks and rewards.

– Make sure you have your home owners insurance.

Calgary Flood 2013

The Electrical panel, plumbing lines, hot water tank, furnace, fireplace etc all have to be replaced.

If your home is too high you may be at risk for windstorms, too low and you may be at risk for flood.  The possibilities are endless that you may come into contact with.  So why invest?  Why move forward with Real Estate?

My Grandpa owned his home for 50 years before this occurred.  Even with the costs of repair and replacement, he will still come out ahead when he wants to sell, as he’s been in his real estate game for a long time.

Often, I get asked by clients if they will be able to make a profit in the years ahead on the purchase they are about to make.  Yet, I don’t have the crystal ball they are looking for.  A person moves forward with Real Estate because they recognize the risks and they recognize the rewards.  They believe they have more chance of reward than of risk and they are ready to take that calculated risk.  Not a mitigated one.

Keep your insurance up to date people, and don’t buy a few feet from the waters edge.

Now that’s the Cats Meow in Real Estate.