Bernice Dubon, Calgary Alberta Realtor

When home buyers ask me about the neighbourhoods in Calgary, depending on what their home buying needs are, I usually let them in on one of my favorites... Somerset.

As it stands today, Friday November 13^th, 2009, homes range from $179,900 to $274,900 for condo apartments and townhouses. Single family home listings start from $374,900 and go up to $499,900.

The bottom end for single family homes in this community has steadily increased over the past few months. 60 Days ago, the least expensive home sold for $315,000. Now the lowest priced single family home on the Somerset real estate market is $374,900. The reason for this... home buyers looking to get into the market are snapping up the most affordable homes.

Whether you're looking for a starter home or thinking about moving up, Somerset has much to offer. For starters, it's the first stop on the LRT in south Calgary, so if you work downtown, the first seat on the train could be all yours for the morning rush. Besides the C-Train, practically every other convenience is right near by. Schools, shopping, restaurants, the movie theatre, Home Depot plus all of the major grocery stores are within walking distance. Add to that the South Fish Creek Recreation Association, and there's no excuse for not having something to do... this fantastic complex houses the YMCA, the library, hockey rinks, and the local farmer's market.

Want to find out what's available in Somerset right now?

Click the link below:

Somerset Homes for Sale

Here's a great opportunity for you if you're looking for your first home, and a place for your Dog to roam in Deer Ridge, Calgary Alberta for under $250,000!

This 2 bedroom End Unit townhouse condo is just adorable...

Open the front door to your cozy living room featuring a Vaulted Ceiling that gives this room a feeling of openness. The lovely Bay Window allows the light to pour in while the mature trees out in front provide privacy and a little extra shade and protection from the wind. It's just a few stairs up to the wide open eat-in kitchen, with plenty of counter and cupboard space.

The 4 piece bathroom is conveniently located just around the corner, leading into the master and second bedrooms. Downstairs, the basement is open to your ideas with some drywall, and newer carpet. In addition there's a crawl space which makes for great extra storage.

Super convenient location! Schools, shopping and transit are all nearby. Plus Deer Ridge is surrounded by Fish Creek Provincial Park with quick access to outdoor activities of all kinds.

Right behind this complex, is an expansive off-leash area and walking park that leads all the way to the Bow River.

I'm very fortunate to work with a brokerage that has on-going education for and by Realtors in our office. I was in one of our classes last week, and the topic of Closing Costs came up. As we began to discuss this topic, and how we educate our clients with regard to preparing for closing costs, the question of the difference in closing costs from province to province came up.

For example, here in Alberta, we don't (at least not at the moment) have Land Transfer Tax, which is a considerable expense, and may be quite daunting for the first time home buyer who is struggling just to save up for their down payment.

I'm interested to know what home buyers and sellers can expect to pay in provices across Canada when finalizing their real estate transactions. What can you expect where you live?

Here in Calgary Alberta, watching the average home price has become something of a sport over the past couple of years. In Calgary, we've come out of an incredible boom where anyone who purchased a home 10 years ago watched with glee as the average home prices soared and the value of their home in most cases more than doubled. Watching this past year as the average home prices have dropped, perhaps hasn't been as much fun to watch as spectator sports go. But of course thats what the real estate market does -- it goes up... and it goes down.

It's important to remember though, that the average home price in any given area can be somewhat misleading. Here in Calgary we have some pretty high priced properties, and when one of them sells, it can distort the average.

Take for example, homes in the community of Lake Sundance. In this neighbourhood we have a wide range of home prices. As I write this on October 18th, 2009, there are 20 homes for sale in Lake Sundance. And if you believe in averages, you might believe that the average home price in Lake Sundance is $690,450. In fact that's what the statistics on MLS are telling at this moment. But would you be surprized to know that not one property is listed at $690,000 in Lake Sundance? In fact, there isn't even one single active listing in Lake Sundance in the $600,000 - $700,000 range or the $700,000 - $800,000 range.

The fact is, homes in Lake Sundance range in price from $299,900 to $2,999,900. You read that right: Under $300,000 to just under 3 Million dollars. Here's the break down:

Out of 20 homes currently listed for sale in Lake Sundance half of them are between $300,000 and $500,000. 2 of them are under $300,000, 4 of them are over $500,000, and 3 of them range from $1,650,000 to $2,999,900. Can you see where the average can guide you down the garden path?

By the way, the Median Price for Lake Sundance is currently $419,900. That's the price half way between the highest price and the lowest price.

Just another way of looking at the real estate market... Sometimes it takes more than the average to paint the picture.

If you want to see what's available Right Now in Lake Sundance check out www.LakeSundanceHomes.com

In the Calgary Real Estate market over the past year we've seen home prices drop significantly to say the very least. It's been a fantastic time for those ready to buy. Still waiting for the price to Drop on that home you've had your eye on?

If you're paying a mortgage over 25 years, how much of a difference does the price you pay make to your over all cost? The chart below shows how the difference in price affects both your monthly payment, and the amount of interest you might pay in 25 years if the interest rate remained the same for the entire duration of the loan.

It's important to note the importance of the mortgage interest rate in the equation. As a result of the world wide financial crisis, we've seen interest rates hit historical lows. Again, low prices combined with low interest rates are the perfect combination for buyers that are ready to make their move. Just this week in Canada however, some lenders have already started to increase rates on their five year fixed rate mortgages.

Because rates are expressed in portions of a single digit number (for now anyway), it's easy to overlook how much that tiny little number can cost you. The chart below shows how much a mortgage rate increase of just 1% could cost you over the duration of a 25 year mortgage.

Have you had your eye on Your Next Home? Price holding you back? Remember Low Prices and Low Interest Rates don't often come around at the same time.