This morning I received an email newsletter and in it I found something very interesting. I read this article about how Quebec is threatening to pull out of CREA. Danny Kucharsky reports:

A Quebec real estate board says it will pull out of the Canadian Real Estate Association unless CREA makes major changes, and says other equally disgruntled boards in the province are ready to follow its lead.

“We feel we pay way too much for not much in return,” says Lise Desrochers, general manager of the 248-member Chambre immobilière de la Haute-Yamaska in Granby.

Desrochers cites several reasons for the desire to leave, including a lack of services, technology “that is often deficient,” high fees and “increases that are really unjustified and demands that are not listened to.”

She says that data on Realtor.ca is not well-enough protected, which easily allows non-members to make use of the service. “We’re paying for things we think we can easily obtain here in Quebec through the use of Centris,” she says of Centris.ca, the Quebec online listings site that is part of the Fédération des chambres immobilières du Québec (Quebec Federation of Real Estate Boards). The federation oversees Quebec’s 12 real estate boards.

In a letter sent to CREA Oct. 11, the Haute-Yamaska board outlined its concerns and advised CREA that it will leave Dec. 31, 2012. The advance notice would give the board the time to make alternate arrangements, Desrochers says, and not leave it in the lurch.

Two days after the letter was sent, CREA requested a meeting with the Haute-Yamaska board, which is scheduled for mid-November.

Desrochers says the possibility of bowing out of CREA has been the topic of several meetings with the other real estate boards in Quebec. “There are boards that are very much in agreement, but it always takes one to get the ball rolling. And we’re the ones that decided to do it.”

While some boards fully support the Haute-Yamaska board’s move, Desrochers says some Quebec boards are afraid of the risks stemming from a CREA departure and the comments that would ensue if they took that step.

Members of the Haute-Yamaska board were consulted last year about their involvement in CREA. “The members all asked, ‘What does CREA do for us, aside from asking us to go to meetings?’ Organizing meetings or conventions all the time won’t change things.”

Desrochers says members are not getting enough services for the money they pay to CREA. “They pay, pay, pay, but don’t see much.” According to Desrochers, boards outside Quebec are also complaining about CREA, “saying it’s expensive for what it gives back.”

She is also critical of “unjustified” dues increases in recent years and says more such increases are on the way. “It’s a bit of a shock,” she says of dues that “have increased enormously” in the last several years.

The Haute-Yamaska board does not want to have to increase dues to its members, given all the other fees they have to pay, she says.

In a recent interview with REM, CREA president Gary Morse said CREA has “had discussions with pretty much all of the boards in Quebec over the last two to three months in order to satisfy questions and concerns.” He expressed certainty the improved communication had satisfied some of their concerns.

Morse added: “I can understand if there are people out there who maybe question the value they are getting from CREA, because CREA has never been in a position to be able to communicate its value proposition directly to the members on the street. And if I never heard from my national association, I might wonder what they do and what I’m paying for. It’s a fair complaint when people say, “What does my national association do?” That’s something we need to address and we are addressing it.”

Desrochers says the decision to leave CREA “is pretty well made at the moment” and that it “would take a big reversal” to stay. “We have until the end of December 2012 to change our mind. It would depend on the goodwill of others.” But, she warns CREA: “If you don’t act, we’re leaving.”

She says the Quebec Federation of Real Estate Boards and Centris respond to the Haute-Yamaska board’s needs and would easily take CREA’s place should her board carry out its threat. “They won’t let us fall by the wayside. We’re not worried about what happens.”

Mike Hemmerling who is part of Pillar To Post home to home inspection sends me out great emails once in awhile. Mike is a registered and certified home inspector who inspects homes in Lethbridge, Taber, Crowsnest Pass, Okotokes and High River. Today Mike sent me an email about living in an older. I thought the information he sent me would be useful to both realtors and clients. Here is what he sent me:

The charms of living in an older home can be many - history, style, craftsmanship, quirks. But there's no denying that living in such a home has its challenges. Maintenance can be tricky and expensive, especially if certain systems and features have been neglected over the years. Let's take a look at some common situations found in many older homes:

Energy inefficiency is probably the number-one issue with older homes. Most older homes were constructed with single-pane windows; if these windows are still there, they likely don't fit very well. Replacement windows can be very expensive, but will contribute immensely to reduced energy use and heating and cooling costs. Most replacement windows are available in several styles, so finding one that suits the look of your older home is easier than ever.

Like single-pane windows, poor (or no) insulation will also result in wasted energy and money. The most important and easiest area of the home to insulate is the attic, but walls and floors above ventilated crawlspaces should be insulated as well if possible. The attic may already have insulation but it may be inadequate by current standards.

If your home has older water pipes, have them checked to identify the material and determine if they need to be replaced. Some older materials such as galvanized steel, iron, and even lead are subject to deterioration and are still in use today even though new construction does not allow them. Replacement options include copper and CPVC piping.

Outdated electrical systems can still sometimes be found in older homes and may not only be dangerous, they can make the house uninsurable. Even if no danger is present, we use so much more electricity in our homes now that the capacity of your older system may be inadequate. Only a qualified electrician should attempt any repairs or updates to your home's electrical system.

Have some pumpkins still kicking around the house? Don't throw them out just yet. Allrecipes.com has some great recipes for

any age and any amount of time you may have. I found these great recipes for pumpkins. If you try any of them out be sure to

comment and tell me how you like them.

Pumpkin Recipes

Pumpkin, whether fresh or canned, is terrific in more than just pies. Try it in pancakes, soups, chili--even lasagna.

I found this article today from mylethbridgerealty.com and thought I would pass it along as the information is benefital to all realtors.

Lethbridge Foreclosures and Bank Owned Properties – A Guide to Buying

It’s been some time since I’ve put together a Lethbridge Real Estate market report and as you may guess by the title of this article, our market is quite different now since my last post. Notice I said

"different" (not deflated, not crashed, not hopeless) and it’s the kind of "different" that gets me even more excited to be in the real estate industry!

"

This time, like all times, is a very good one, if we but know what to do with it" were words uttered long ago by Ralph Waldo Emerson. Although I highly doubt he was referring to the real estate market, they are very fitting words right now. Hopefully I can help teach you "what to do with it!"

Have you ever dreamed of owning real estate as an investment? Sure, owning your personal residence is an investment in itself, but imagine sitting back and letting someone else pay your mortgage while you watch the value of your property rise. Even better, when done correctly and with the help of a REALTOR®, reaping the benefits of a property with positive cash flow! (Simply put, the expenses of owning and maintaining the property are less than the rents collected from the property. This allows you to put $$ in your pocket, or maybe even a smarter option, to pay down your mortgage faster!) Andrew Carnegie was once quoted saying that "Ninety percent of all millionaires became so through owning real estate."

Are you ready to join the club?

Let’s start with some basics

What is a foreclosure?

Simply put, a home in foreclosure is one where the owners are behind on their mortgage payments and the bank has decided to start action to exercise their right to reclaim the property and dispose of it. Some of the causes of foreclosure can include divorce, loss of employment or illness, and unfortunately, many homeowners are in denial about their situation and don’t take alternate action in time to save their home. (If you are a homeowner in this situation, there are steps you can take to reverse it…. don’t wait too long to speak with your mortgage provider about possible solutions!)

Why do the banks want to get rid of these homes quickly?

1.They represent bad debt on the books, and in addition, banks that own too many foreclosed properties are subject to penalty under federal law! When a bank carries too many of these properties, they may be restricted from borrowing money from the Bank of Canada or will pay a higher interest rate on monies borrowed.

2. Banks are in the business of banking, not owning properties. There are also additional expenses the banks must cover when they carry these properties (taxes, insurance, utilities).

3. CMHC – The Canada Mortgage and Housing Corporation was created in 1946 to "house returning war veterans and to lead the nation’s housing programs." It has evolved many times over the years and has been paramount in the Canadian housing industry. One of the key functions CMHC now provides (in order to keep housing affordable to the majority of Canadians) is to insure part of the mortgage loan and take some of the risk off of the banks shoulders. Read that again carefully and what you might see is: CMHC covers a portion of the losses the banks incur on an insured mortgage meaning the banks can afford to sell these for CHEAP.

What are some things to be aware of when buying a bank owned property?

The list of pitfalls is extensive

These properties are not like other properties on the market. The offer process is also much different and there are many types of foreclosures and bank owned properties that should be avoided at all costs! For example, no amount of money can fix a bad location! Many of these properties have also been severely neglected and only a trained eye and the right professionals can help you spot which ones scream "RUN AWAY!"

How a REALTOR® can help you if you are considering these types of properties as investment?

2. We can assist you in obtaining a current market value and an estimate of improved value.

3. We can assist you through the offer process and inform you of special considerations or necessary conditions to the contract when dealing with banks.

4. We can assist you in finding the right professional(s) to help you obtain financing on these unique properties.

5. We will help you successfully negotiate with the banks and have the experience to know there is a different psychology behind the process.

6. With the guidance of a REALTOR®, you can determine on each individual property whether or not there is a

PROFIT TO BE MADE using a simple profit formula.

7. When you have found the right property and made it shine, we can help you obtain the highest

possible market value at resale!

The process can be lengthy and trying, but with the right REALTOR® on your side, this could be your opportunity knocking! Call or email Liz or Millie today at mylethbridgerealty@gmail.com or 403.327.1166 ext. 207 and let’s sit down to discuss your goals and browse our database of foreclosures and bank owned properties!

If you don't already know I support Kiva, now you do. Kiva is a non-profit organization with a mission to connect people through lending to alleviate poverty. Leveraging the internet and a worldwide network of microfinance institutions, Kiva lets individuals lend as little as $25 to help create opportunity around the world.

With each home I sell, I donate a little to someone lucky. Here is an example of someone I have helped in the past get successful.

Vyachaslav expands his business.

Vyacheslav is very grateful to each Kiva lenders for the loan he was granted. Due to these means he was able to start making vareniki (national Ukrainian food) and sell it. They are always in great demand, and Vyachelav was able to gain additional profit. He invested it to purchase a freezer to keep his semi-finished goods there.

Now Vyacheslav is going to expand his business and to open some vending location in the regional center Dnepropetrovsk. He is working hard to achieve this goal.