Anne Barnes's Blog by Anne Barnes

The Short Sale Option Explained

What's A Short Sale? The so-called "short sale" of a home can be a viable alternative to foreclosure and will become more prevalent as millions of adjustable-rate mortgages reset over the next 18 months. Short sales are an agreement between the lender and the property owner that allows a home to be sold for less than the amount owed. The lender makes the final decision in approving a short sale. Potential buyers need to understand a short-sale transaction before entering any purchase contract. While a buyer and seller may agree on the price, it's up to the lender to accept that price or not. It's a potential option based on the value of the property, the underlying fundamentals of what is owed and the anticipated marketing time. The lender has predetermined guidelines for the minimum amount they will take in the loan sale. When the sale proceeds do not satisfy the remaining balance, the after-sale balance is forgiven. The credit is then reported as satisfied for ..(read more)

What Should You Buy - New or Resale?

Congratulations! You’ve taken the first steps on the homebuying path – deciding to buy a home. A maze of other choices await you and here’s one of the biggest: new or resale? There is no ‘right’ answer. In the end, it’s really about what works best for you and your family. Here are some things to think about. Location Amenities Size Technology Efficiency Maintenance Interiors Health and Safety Future Development Price The Decision to Buy Location In real estate, you’ve probably heard it’s all about location. Families should bear that ..(read more)

Why Should I Use a REALTOR®?

REALTORS® work on behalf of both sellers and buyers and bring valuable experience and knowledge to the transaction. If you're buying, the purchase of a home is probably the largest single investment you will ever make and if you are thinking of doing it alone, you may want to reconsider. All the details involved in the home buying process can be confusing. A REALTOR® has the time, resources and contacts to make the home buying process as trouble-free as possible. You can trust a REALTOR® to protect your interests and to look after the details. A REALTOR® provides expertise. He/she can help you determine a price range you can afford and can suggest ways to obtain a downpayment or explain alternative financing methods. A REALTOR® is familiar with ..(read more)

How Are REALTORS® Different?

REALTORS® in Alberta were the first in Canada to achieve mandatory professional development for the members of their industry. REALTORS® in Alberta use plain language contracts carefully designed to provide maximum protection to you, the consumer. REALTORS® __ and only REALTORS® __ offer the Multiple Listing Service®, a database of properties for sale. The MLS® (which includes mls.ca) is a powerful marketing system that provides wide exposure for properties __ a benefit to both buyers and sellers. ..(read more)