Moving to Lethbridge, Alberta, Canada

I first posted this article in May of 2008 and since then, our city has grown and a few of the other statistics have changed. Here is an updated version!

If you are considering moving to Lethbridge, Alberta here is some information that may help you make your decision.

Overview

As of January 2009, our city's population is just under 84,000 and growing steadily. The city is divided into three main areas, namely South Lethbridge, North Lethbridge and West Lethbridge. Lethbridge is situated roughly an hour and a half drive south of Calgary, AB which is home to the Calgary International Airport (YYC), and roughly an hour and a half north of the Montana, US border.

Weather

There is a saying about the weather in Lethbridge, AB... if you don't like it, wait an hour and it will change! Although our weather patterns are sometimes unpredictable, our winters are generally milder thanks to frequent "chinooks" or the warm west winds that provide reprieve from our cold snaps.

Employment

Service and trade industries generate more than 50 per cent of all the occupations in Lethbridge. The majority of occupations are diversified across the industries of manufacturing, public sector services, construction, transportation, finance/insurance/real estate and food processing.

Lethbridge employers draw workers from a large commuting area consisting of rural areas and smaller towns and villages within a 100 kilometer radius. The extended workforce population is estimated to be 86,000.

Our current unemployment rate as of January 2009 sits at 3.1% (slightly below the provincial average of 4.1% and well below the national rate of 6.6%)and there are many convenient ways to search for jobs in Lethbridge.

Schools and Post-Secondary Education

There are an abundance of choices when it comes to education and schools in Lethbridge. The Lethbridge School System consists of the Lethbridge School District No. 51 and the Holy Spirit Roman Catholic Separate Regional Division No. 4. It is also home to both the University of Lethbridge and the Lethbridge College. The U of L boasts flexible undergraduate programs in Arts and Science, Education, Fine Arts, Health Sciences and Management and the Lethbridge College also offers a wide array of both credit and non-credit programs and courses.

Lifestyle

There are countless ways to enjoy your free time in Lethbridge. For the sports enthusiasts, we are home to the Lethbridge Hurricanes Hockey Club, the Lethbridge Bulls Baseball Club, and the Lethbridge Soccer Centre to name a few. If the arts are for you, you can check out the New West Theatre productions or the Lethbridge Symphony. Or you can just take a stroll though one of our many parks and recreation areas. There's lots to do when you are seeking entertainment in Lethbridge.

If you've already made your decision to move, give me a call and I can help you find the perfect home. Or check us out at Lethbridge Real Estate for answers to all your real estate questions and helpful moving tips and checklists!

A Buyer's Real Estate Agent in Alberta - Do They Exist??

If you were to ask this question to a real estate professional, they would say "Of course they exist!" But the same question posed to a member of the general public might get a much different response, likely one clouded with uncertainty. Why is it that this little tidbit of information is common knowledge to real estate professionals, yet many home purchasers out there seem baffled by the notion of "Buyer Agency"? Let's unravel this mystery by first sorting through a few common human emotions:

1. Fear of Looking Stupid:

It is human nature to hide the fact that we don't know something that we feel we should. For example, the first time I purchased a vehicle, I really didn't want the salesman to know that I knew nothing about cars! Why? I thought that would make me look stupid and give him an advantage.

2. Fear of Getting Ripped Off:

When I made the above statement, it became apparent that I felt it was a me vs. him thing in the battle of buying a car. I didn't feel that he was working in my best interest and I felt I needed to keep my guard up.

3. Fear of Contracts

Signing a contract is a big deal. Unless you have a law degree or have signed a lot of contracts, it is likely that your heart will pound and you might get a bit sweaty. After you are done, your feet might get cold, you will doubt your decision and you may feel regret. If you don't feel these emotions, even just a little bit, you may not be human. Buying a home is a big deal... you have the right to feel some emotion.

Now that we have addressed some of these emotions, let's get back to why the general public seems to know very little about Buyer Agency? The answer is simple: FEAR. I have always felt that the best way to combat fear is to arm yourself with a whole bunch of knowledge.

Here are 5 things you need to know about Buyer Agency in Alberta.

1. As a buyer, you can choose any REALTOR® you like to represent you in a real estate transaction. You can interview them, ask them a million questions and find one that you feel comfortable with. If you are not sure if they have answered all your questions, keep asking.

2. When you find one you like, you can enter into an Exclusive Buyer Brokerage Agreement. This contract will ensure that the agent you choose is representing your best interests and that they will put your interests above their own at all times. If you choose to work without a Buyer Agency contract, the agent you choose still owes you fiduciary duties that should be explained to you. However, the duties are much more clear and extensive if you work with a Buyer Brokerage Agreement. If you don't understand something in the contract, just ask.

3. You don't pay directly for the services of a Buyer's Agent unless they specify in writing that you are responsible for payment (and this will be covered in section 5 of the Buyer Brokerage Agreement). Nine times out of ten, the seller of the home you purchase will designate a portion of the commissions they are paying to be paid to the Buyer's Agent. If you are unsure about how your agent gets paid, just ask them.

4. If you have hired a Buyer's Agent and they show you one of their own listings and you like it, with informed consent, you will enter into what is called Transaction Brokerage. In this scenario your agent is loyal to and will represent both you, the Buyer, and the Seller. If you choose not to enter into Transaction Brokerage, your agent's loyalty will revert to whomever they first entered into contract with and the other party will be given the opportunity to seek other representation (perhaps from another agent in the company or one from a different company).If you need more clarification on Transaction Brokerage, just ask.

5. If you walk into a home (on Open House for example) and have not chosen a Buyer's Agent to represent you, keep in mind that you are NOT being represented by anyone. The agent in that home is under contract with the seller and has been hired to protect their best interests... not yours! If you are unsure of whom they are representing, just ask.

When it comes down to it, the only thing that is required to remove this shroud of mystery is communication. You must be prepared to ask a lot of questions and you need to find a REALTOR® who is able to answer (or find answers) to all your questions. When you hire a Buyer's Agent, it is not you against them... it is a smart person working with another smart and knowledgeable person to achieve the goal of purchasing a home!

Visit me for more information on Lethbridge Real Estate.

Relocating to Lethbridge, Alberta, Canada

Relocation is one of the niches of real estate that I find most challenging... and most rewarding. But finding the perfect home for a family relocating to Lethbridge, Alberta from elsewhere in the province, across the country or even across the pond, isn't the hard part. There are many great homes for sale in Lethbridge and the surrounding areas and I am very familiar with what is available.

The hard part is that relocation is personal. Families making a big move are not only looking for a great house, they are also looking for a great place to call home and they are trusting my judgment (many times, implicitly) to help them make their decisions.

In order to give the best service possible, I really need to get to know a family (usually from a distance). I need to get a good feel for their lifestyle, their interests, their background, their careers, their kids, their pets... the list goes on.

So what criteria is most important?

Are schools most important? Will they enroll their kids in public or private school? Do they want to be within walking distance? Would they prefer to be in a smaller community where class sizes are typically smaller? Or are they childless and would prefer not to back onto a noisy school ground?

Is lifestyle most important? Are they frequent walkers who would appreciate a location near one of our many parks or lakes in Lethbridge? Do they want to be near shopping? Do they want to be active in a community where they can volunteer their time, get to know the neighbors and be accepted? Or would they rather keep to themselves and enjoy their privacy?

Are pets most important? If they are looking at condos, will Fido be welcomed? Is there a fence in place or will they need to have one in place before they move in? Or are they petless and would be horrified to find out that their neighbors dog barks 12 hours a day?

Is career most important? Do they want to be in an area where they can easily network and build new business contacts? Is commute time important? Do they work from home and would like a bright sunny area to call the home office?

The truth is, it's all important! Although there must be concessions in some areas and no home is perfect, these are all things to consider when helping a family relocate.

I pride myself on being not only knowledgeable about the real estate market in Lethbridge, but also about the community and what opportunities Lethbridge has to offer. I consider it part of my job.

If a client wants specific information, I will seek it out and provide it.

I am their eyes and ears until they move here, and I take that very seriously. I have gone so far as to help clients seek out employment, find temporary housing if the dates they give up their old house and move into their new home don't mesh, provide a list of babysitters if they have small children, restaurant guides... everything short of inviting them for dinner. I am usually a clients first impression of this city and could possibly have an influence on how their enjoy their life here. That's a big job and I don't take it lightly.

Visit us for more information on Lethbridge Real Estate or email me at mylethbridgerealty@shaw.ca to request a Relocation Package.

Buying Real Estate in Lethbridge, Alberta - Able, Ready and .... Waiting??

Are you considering buying a home in Lethbridge, Alberta? Are you looking for more space, a better location, an investment property? Are you pre-approved for a mortgage and ready to make your move? If you have answered all these with a yes... my next question is, "Why are you still waiting?"

The answer is likely "fear". Fear that you will overpay, fear that interest rates have not hit their lowest, fear that the timing is not perfect. Well, if your decision to wait is rooted in fear, I have something that can help you. No, it's not that almighty crystal ball (although that would make things much easier!) That something that I have is knowledge.

I have knowledge of the current inventory. I am out there seeing it every day and evaluating it with critical eyes. I am showing homes to great people who are seeing the opportunity to buy right now and we are finding the best buys and we are writing up offers.

I have knowledge of the lending industry right now. I married a great man who is also a mortgage specialist in Lethbridge and our pillow talk usually consists of interest rates, what it takes to get mortgage approval these days and a strong belief that now is a good time to buy.

I have knowledge of contracts. I know how to protect you from paying more than current market value for a home. Did you know that you can have your own Buyer's Agent when you purchase a home? When you sign an Exclusive Buyer Brokerage Contract, your REALTOR® works for you and you alone and represents your interests only. Some of the practices that I follow when working with buyers include performing a reverse market analysis on any property you are interested in purchasing and helping you understand why a certified appraisal can be a great negotiating tool when buying a home.

I have knowledge of investment properties in Lethbridge. As the owner of investment property, I keep up to date on current market rents, vacancy rates and any changes to code that could affect a suited property. I have formulas that I use to predict if a property will have positive cash flow and to help a buyer avoid the dreaded "alligator".

I have knowledge of the range of emotions that a buyer goes through when purchasing real estate. It's a big investment and if you aren't a seasoned pro, you are likely experiencing a lot of different emotions. I am here to walk you through those emotions and make sure you are comfortable with your purchase.

I am ready to work for you and I would love the opportunity to put my knowledge to work for you. It's my job to study real estate every day and I take it very seriously. And believe me when I say, now is a good time to buy!

Visit me for more information on Lethbridge Real Estate

Lethbridge Real Estate - Market Report for December 2008

As the year came to a close, there are a few things to note when looking at the Lethbridge, Alberta real estate market for the month of December:

1. Currently there are 566 homes for sale in Lethbridge (399 single family, 146 condo, 21 mobile homes)

2. 118 of those 566 listings were put up for sale in the month of December.

3. 55 homes sold in Lethbridge in the month of December.

Now in order to see where we are in heading, we need to look back at the statistics for the entire board for the past few months:

August - 534 new listings, 236 solds

September - 460 new listings, 228 solds

October - 527 new listings, 171 solds

November - 354 new listings, 107 solds

December - 240 new listings, 92 solds

The number of new homes put on the market changed each month by -14%, 14%, -32% and then -47% respectively. Other than the increase in October, there has been a dramatic decline in the number of new homes put up for sale each month. Comparatively, the number of homes that sold each month drops by only 3%, 25%, 37% and then 14%, respectively.

The December stats could be an indication that our local market in Lethbridge is very near equilibrium. The decline in the number of new homes listed for sale each month is outpacing the decline in sales (and home sales typically slow in the winter months, so we can expect to see an increase in sales activity in the spring months).

What can we expect to see in the coming months for the real estate market in Lethbridge? If supply continues to decrease rapidly and the demand for homes stays at a constant, the inventory of homes for sale will continue to deplete. The forces of supply and demand dictate a market, and in this scenario, their forces will hold prices steady.

What does this mean for Sellers? I can only echo my thoughts from previous months: Price your home competitively and make it shine. It is still a tough time to be a seller. Get a professional on your side and keep your expectations realistic. Realize that if you are selling and then buying in the same market, you will make up for any perceived losses on the buying end.

What does this mean for Buyers? A Balanced Market means the end of a Buyer's Market. If you are sitting on the fence, now is the time to jump in and put your money and patience to work for you. Selection is steadily decreasing, interest rates are holding and there are many homes out there priced at or below market value.

My predictions for January - 205 new listings, 89 solds

Check back at the beginning of February for actual January statistics and if you want more information on Lethbridge Real Estate and the surrounding areas, please visit me at Lethbridge Real Estate.

Lethbridge and District Association of REALTORS®

MLS ® Statistic Report

[DECEMBER 2008 ]

200820072006%INC/DEC [ 2007 - 2008 ]

Total # of Listings [Month]	240	167	215	44%
Total # of Listings YTD	6220	5026	4411	24%
Total # of Expired Listings [Month]	478	241	117	98%
Total # of Expired Listings YTD	2074	885	743	134%
Total # of Sales [Month]	92	123	150	-25%
Total # of Sales YTD	2569	3125	3501	-18%
Total Sales Dollar Volume [Month]	$23,088,281	$29,839,137	$27,465,057	-23%
Total Sales Dollar Volume YTD	$634,607,115	$729,898,327	$597,635,872	-13%