Fort McMurray, Alberta Information

When buying a home, it’s important to think about more than just the colour of the countertops or the flooring. It is easy to fall in love with a home’s appearance, but it’s very important to look beyond the window dressing. By playing detective yourself, you can carefully inspect each house you view and eliminate those with too many defects.

Here are some things to consider when looking at a home:

1. First Impression
First appearances do count. Is the home dirty and cluttered? Are the lawns uncut? Are the walls chipped and in need of paint? If the owner hasn’t bothered to keep the house looking clean and attractive, what problems are lurking below the surface?

2. Kitchens and Bathrooms
Kitchens and bathrooms are the most expensive rooms in the house to renovate so pay close attention to the age and quality of cupboards, benches, plumbing fittings and tiling. Turn the taps on in the kitchen, bathroom and laundry to check the water pressure, performance and drainage. Check for dirty water. You might like to leave the tap running for a minute and it can’t hurt to drink the water for a taste test.

If the grout and caulking around bathroom and kitchen tiles are loose and crumbling, there is a good chance water is finding its way into the wall or under the floor.

3. Rooms and Furnishings
If you are not planning to replace all of your furniture, make sure it will fit into the rooms of the new house. Bring a measuring tape as rooms can be deceptive. Are there any rooms unusually shaped that might be difficult to furnish?

4. Doors and Windows
Check that doors and windows fit snugly and operate smoothly. Look for flaked paint and loose caulking. Check for drafts.
Do windows open and slide easily? Do they have cracking paint? This could be a sign of rot. Press your finger into the wood. If it’s soft, it is rotten.

5. Floors
Floors should be smooth, even, and solid. Soft springy sections, excessive squeaking, and unevenness are all indications that expensive repairs may be needed.

If you intend on renovating, check to see if there are floorboards under old carpets, and their condition. People sometimes do careless and cheap things like staple the carpet to the floor and use industrial glue for their tiles. This will add significant expense and time to floor polishing costs. Carpet should be easy to raise without many rusted nails or staples.

6. Storage Space
Make sure your new house has enough storage space for all your belongings. And that means more than just your clothes. Think about all the things that need to find a home – tools, gardening equipment, old toys, sports equipment, and all those wedding presents that are still in their original boxes. Check the size of the closets, the attic, the basement, and the garage. Rule of thumb: there’s never enough storage space.

7. Basement
When viewing the basement, use all of your senses. Sight, smell, and feel. Does the basement smell musty? If the basement is finished, are the walls and floor covering dry? Look for cracks in the walls and floors. The majority of concrete basements will have minor cracks in the floors and walls from settling so don’t be alarmed unless they are large enough to allow water to enter or they are considered serious structural cracks. Look for any large cracks and look for water leakage or stains from past flooding.

8. Water Leaks
Water can do a lot of damage to a home. It rots wood, undermines foundations, and leads to mould and mildew. It takes an expert eye to find most water leaks (which is why we recommend you have a house inspected before you buy). If you spot stains, bulges and other signs of water damage on ceilings or walls, make a special note that there could be a problem.

9. Appliances and FixturesTest the lights, faucets, toilets, furnace, air conditioning, and all major appliances that will be included with the home. Make sure everything is in good working order.

10. The Outside of the House
Walk around the house and yard looking for areas where water might collect. Soggy areas near the foundation indicate poor drainage. Look at the condition of the roof and external walls. Are there any shingles/tiles missing or deep cracks in the walls or foundation? These can be very expensive to fix and is usually not covered by house insurance.

11. Services
Make sure that all the services you need, such as power, water, phone and gas, are available and in working order. There should be at least two power circuits and one light circuit. Your nose will alert you to gas leaks. Safety switches are compulsory in houses built after 1992. Never touch old wiring. If you find exposed wiring in easy reach that is not protected by conduit, it could be a sign of illegal wiring and should be looked into. Try the hot-water taps to see how quickly you get hot water. Turn on each tap and listen for banging in the pipes. This is called water hammer and is caused by loose pipes. They may require securing or a water-hammer arrester may need to be installed by a plumber.

12. Inspection
Once you narrow your search down, you should hire a trained, certified Home Inspector to perform a Professional Home Inspection to identify the not so obvious problems. Inspectors can spot problems that the average person would never find and they can usually advise you on how much it will cost to make the repairs. A home inspection can help you determine whether or not you are going to make an offer on a house, and if you decide to go ahead, just how much that offer is going to be.

When buying a home or renewing a mortgage in Fort McMurray, many people think they are obligated to sign up for their financial institution’s mortgage life insurance. Don’t rush into buying your bank’s insurance policy until you’ve looked at all the possibilities. You could end up saving money and getting added life insurance coverage at the same time by purchasing a term life insurance policy instead.

What is mortgage life insurance?

Mortgage life insurance, also known as mortgage insurance or creditor insurance, is offered by most banks and lending institutions. It is a life insurance policy that pays the balance of your mortgage to the lending institution if a person listed on the mortgage passes away.

How does term life insurance cover your mortgage?

When you purchase a term life insurance policy, you take into account all the money your family will need in case you are not around to help out. This includes your mortgage payments.

Mortgage life insurance vs. term life insurance
Life insurance gives you more options and greater control over your mortgage protection. Compare these advantages to what happens when your mortgage lender insures your mortgage:

Mortgage insurance

1) Your insurance covers only your mortgage balance.

2) Even though your mortgage debt reduces over time, your premiums remain level.

3) If you die, only the outstanding balance on your mortgage is paid off.

4) The mortgage lender is automatically the beneficiary.

5) If you take your mortgage to another company, you may lose your existing mortgage insurance and may be required to re-qualify for new mortgage insurance.

6) You lose all your coverage when your mortgage is repaid, assumed or in default.

7) You have no flexibility to change your coverage as your needs change.

Life insurance

1) You can choose from different types of insurance (i.e. term or permanent) with a death benefit to cover more than just your mortgage.

2) Your coverage amount does not decrease over time unless you choose to change it.

3) If you die, the death benefit is paid to your beneficiary who can use it as they see fit, not just to pay off your mortgage.

4) You name the beneficiary.

5) If you take your mortgage to another company you keep your existing insurance, so you don’t have to re-qualify.

6) As long as premiums are paid your coverage remains in place, even if your mortgage is repaid, assumed or in default.

7) If you decide you need coverage only until your mortgage is repaid but later realize you require coverage for other needs, you can convert your insurance to a permanent plan.

Extra coverage with term life insurance

A term life insurance policy gives you added coverage and flexibility over a mortgage life insurance policy;

One major disadvantage of insurance purchased through the bank is the ownership of the policy. The bank owns “your” policy and has complete control over it. The bank also happens to be the beneficiary of your life insurance policy. That means you have no say in who gets the death benefit or what the death benefit is used for. When you die the bank is going to use the proceeds to pay off the mortgage.

However with term life insurance your family receives any payout from your term life policy directly. It may be more advantageous for your surviving spouse or children to use the proceeds to invest and simply continue to pay the monthly mortgage payments. This would be most appropriate if the current mortgage interest rate is much lower than current investment rates of return available. They could simply invest the proceeds and use the investment income to pay part or all of the mortgage payments on a monthly basis.

Mortgage insurance policies only cover you for the amount of your mortgage you owe to the bank. As you pay down your mortgage, your coverage amount decreases with it. This is called a reducing balance. With a term life insurance policy, you have a constant level of coverage for the whole term and are getting better value for your monthly payments.

With mortgage life insurance, you have to reapply any time you switch lending institutions. But with term life insurance, unless you want to increase your coverage or terminate your plan, your policy is automatically renewed up to age 80 with no medical questions asked.

Shop, compare and save

Depending on your age and health, the premiums on mortgage life insurance can be much higher than what you would pay for a term life insurance policy. Take the time to shop around for life insurance. Compare the cost of a term life insurance policy to a mortgage insurance policy. Chances are you’ll find a term life insurance policy will have lower yearly premiums and offer more coverage and flexibility than a mortgage insurance policy.

While getting mortgage insurance through your lender is convenient, a term life insurance policy might be the way to go if you’re looking to save money.

Low-Cost Tips to Get your Home Ready for the Holidays
It’s that time of the year again and even though getting your home ready for the holidays can seem like a chore, it doesn’t have to be. Fortunately, it doesn’t even have to take up much time or money, either. You can do it in a few easy steps. Just get in the mood to be creative.

Add colour and texture
Simply displaying some richly coloured pillows or throws in any room can give the room a different feel. Choose warm and spicy colors, or maybe something with mirror work to catch the light and add to the glowing effect and sparkle of the holiday season.

Neutrals, metallic and peacock shades are the hot holiday hues of 2008, so don’t feel like you have to stick with the traditional red, green and white schemes.

Artwork, throws and mirrors can also add a new splash to the walls.

Spread some warmth
Changing the shades on your lamps to warm coloured ones can make the light appear richer. By lighting candles in holiday scents – ensuring, of course, they’re displayed in safe areas away from flammable objects – your room can take on a warm glow.

Revamping or creatively using what you already own can also create lush looks in leaner economic times. For instance, filling a clear glass bowl or vase with ornaments of a single bright colour can make for an eye-catching display.

Another trick that makes for a pleasing display that is kind to the wallet involves bringing in some evergreen cuttings and using ribbon or other household items to dress them up. And you can make old wreaths look new by attaching fake berries, sprigs or pine cones.

You can also refresh your old decorations by dressing them up with paint or glitter.

Make it cozy
There’s no better time than the present to get started on your holiday cleaning. If you rid your rooms of clutter, especially those catch-all coffee tables and kitchen counters, your home will seem much more inviting.

Piles of junk mail, unfiled bills and magazines not only look messy, but can also interfere with your cleaning efforts. It’s much easier, and faster, to dust a clear surface than to clean around three months’ worth of the latest decorating magazines and some early Christmas cards.

To eliminate – and prevent – clutter, everything should have a designated space. Magazines, for instance, can be placed in a bin under the coffee table, while children’s art can be stored in a chest or accordion-style folder.

And to encourage an even more inviting atmosphere, think about arranging your furniture in conversation groups. You have to move the furniture anyway in order to get rid of those dust bunnies, so why not try arranging them in a fresh, new manner?

Leading up to the holidays is the perfect time to think about things like improving your credit score and consolidating debt. After all, the holidays are a joyous time that should not be overshadowed by financial woes. And even if your credit score is good, these tips may make it even better. After all, the better your credit score, the fewer hurdles you’ll have to overcome when looking to renew or refinance your existing mortgage, or obtain a new one.

Following are five steps to a speedy credit score boost:

1) Pay down your credit cards. The number one way to increase your score is to pay down your cards to 30% of their limits. Revolving credit like credit cards seems to have a more significant impact on your score than car loans, lines of credit, and so on.

By paying down your cards to 30%, you are leaving a big gap between what your limit is and what you owe – a move that is very favourable to increasing your credit score.

2) Limit the use of your cards. Racking up a large amount and then paying it off in monthly instalments can hurt your credit score. If there is a balance at the end of the month, this affects your score – credit formulas don’t take into account the fact that you paid it all off the next month.

By being more accountable of your spending on a daily or weekly basis through the use of a budget, you can keep those cards below the magic 30% mark.

3) Check your limits. If your lender is slow to report your monthly transactions, this can have a big impact on how another lender may view your file. Make sure everything is up to date. Old bills that have been paid can come back to haunt you.

Some financial institutions don’t even report your maximum limits. As such, the credit bureau is left to only use the balance that’s on hand. The problem is, if you consistently charge the same amount each month – say $1,000 to $1,500 – it may appear to the credit-scoring formula that you’re regularly maxing out that card.

You could go on a wild spending spree to raise the limit, but a more sensible solution would simply be to pay your balance down or off before your statement period closes.

When making payments online, do so about a week before the period closing date printed on your latest statement to ensure the payment is received on time – it can take up to five business days for a payment to be received. This won’t raise your reported limit, but it will widen the gap between your limit and your closing balance, which should boost your score.

4) Keep your old cards. Older credit is better credit. If you stop using those older credit cards, the issuers may stop updating your accounts. As such, they will lose their weight in the credit formula and, therefore, may not be as valuable – even though you have had the card for a long time. Use these cards periodically and then pay them off.

5) Don’t let mistakes build up. Dispute any mistakes or situations that may harm your score. If, for instance, your cell phone bill is incorrect and the company will not amend it, you can dispute this by making the credit bureau aware of the situation.

As always, if you want to talk about your credit score or consolidating debt, I’m here to help.

Many homeowners in Fort McMurray believe to maximize their home sale they should sell it themselves. At first glance, they feel selling a home is simple. Why should they pay a broker fee for something they could do themselves? In fact, close to 25% of all the homes sold last year were sold For Sale By Owner (FSBO).

However, close to half of the FSBOs said that they would hire a professional next time they sold. Thirty percent said they were unhappy with the results they achieved by choosing FSBO. Why?

Many FSBOs told us the time, paperwork and everyday responsibilities involved were not worth the amount of money they saved in commissions. For others, the financial savings were even more disappointing. By the time they figured the fees paid to consultants, inspectors, appraisers, title lawyers, escrow and loan officers, marketing, advertising, they would have been better off to have paid the broker’s fee that would have included many of these charges.

Selling a home requires an intimate understanding of the real estate market. If the property is priced too high, it will sit and develop a reputation for being a problem property. If the property is priced too low, you will cost yourself serious money. Some FSBOs discovered that they lost money as a result of poor marketing decisions. In the final outcome, this far outweighed the commission they would have paid.

Before you decide to sell FSBO, consider these questions and weigh the consequences of assuming the responsibility versus employing a professional. A little time spent investigating now could pay off tenfold in the end.

Questions To Consider

Do I have the time, energy, know how, and ability to devote a full forced effort to sell my home?

One of the keys to selling your home effectively and profitably is complete accessibility. Many homes sit on the market much longer than necessary because the owner isn’t available to show the property. Realize that a certain amount of time each day is necessary to sell your home.

Am I prepared to deal with an onslaught of buyers who perceive FSBOs as targets for “low balling”?

Another challenge of selling a home is screening unqualified prospects and dealing with “low-ballers.” It often goes unnoticed that much time, effort and expertise is required to spot these people quickly. Settling for a “low ball” bid is usually worse than paying broker commissions.

Am I offering financing options to the buyer? Am I prepared to answer questions about financing?

One of the keys to selling, whether it’s a home, a car… anything, is to have all the necessary information the prospective buyer needs and to offer them options. Think about the last time you purchased something of value, did you make a decision before you had “all your ducks in a row”? By offering financing options, you give the home buyer the ability to work on their terms. You’ll open up the possibility of selling your home quicker and more profitably. A professional real estate agent will have a complete team for you to profit from… lenders… title reps… inspection companies… they’ll be completely at your disposal.

Do I fully understand the legal ramifications and all the necessary steps required in selling a home?

Many home sales have been lost due to incomplete paperwork, lack of inspections or not meeting your state’s disclosure laws. Are you completely informed of all the steps necessary to sell real estate? If not, you may want to consider consulting with a professional.

Am I capable of handling the legal contracts, agreements and any disputes with buyers before or after the offer is presented?

Ask yourself: “Am I well-versed in legalese? Am I prepared to handle disputes with buyers?” To avoid any disputes, it is wise to put all negotiations and agreements in writing. Many home sales have been lost due to misinterpretation of what was negotiated.

Have I contacted the necessary professionals… title, inspector (home and pest), and attorney?

Are you familiar with top inspectors and escrow companies? Don’t randomly select inspectors, attorneys, and title reps. Like any profession, there are inadequate individuals who will slow, delay and possibly even cost you the transaction. Be careful!

My hope with this report has been to educate you and help you avoid the pitfalls many FSBOs go through. I hope you found the ideas valuable and if there is ever any way I can be of service to you or anyone you care about, please contact my office. Your initial consultation is always completely free of charge and you’re under no obligation of any kind. We’ll sit down for 15-20 minutes… no high-pressure, just plain, honest talk about what it’s going to take to achieve your personal goals. Go ahead, pick up the phone and give me a call. I’d love to hear from you!

Buying a home in Fort McMurray can be a “hair-raising” experience. It can be a roller coaster of emotions… finding the right place… securing the loan… moving in. And if you’re like most of us, your home will be your largest investment. The emotions over such a large and personal purchase can often cloud good business judgment.

Many home buyers do very little research before “diving in” and investing their hard-earned money. Before doing that, doesn’t it make sense to be as informed as possible? That’s what this report is all about. It’s designed to help you determine if the time is right to make a move to the home you’ve been dreaming about. If you follow these 10 suggestions, with the help of the right real estate professional like Patrick Dardis, you’ll make a good sound business decision that you’ll be happy and proud of for years to come.

1. Home Values have been stable now for the last six months - The biggest decision that you need to consider is whether or not the time is right for you to make a move. Since home values will be increasing, waiting will likely bring a higher selling price for your house. Keep in mind, however, that the house you’ll be buying is steadily increasing in value. The decision to wait could cost you thousands of dollars in future equity.

2. Interest Rates & Equity- A question that I’m frequently asked is, “How can I afford more house and pay less out of my pocket every month?” Two critical factors to consider are: 1) how much of the equity from the sale of your current house you’ll put down on your next home, and 2) the interest rate that you get on your new home loan. A good down payment combined with a lower interest rate makes this easier than most people think. Call me for a list of reputable lenders that’ll be happy to look at your personal situation and make it work for you.

3. Income Plus Lifestyle Equals Mortgage Payment- Sit down with a competent real estate professional and honestly discuss your income level and living expenses. Take into account future considerations like: children, add-ons, amenities or fix-ups. Your dream home is certainly worth a sacrifice but don’t mortgage your entire future.

4. View Several Homes- See at least 5-10 properties. Don’t move on the first property you see but… don’t move too slowly either. With your agent’s help, you’ll be able to view enough properties to get a good overall perspective of the Fort McMurray market. And when you find the right property, all the leg work will be worth it.

5. Utilize My Team- By aligning yourself with the right real estate professional, you’ll have an entire team working for you. Top real estate professionals have lenders, inspection teams - an entire group of trained professionals to make the whole buying experience simple and easy for you in Fort McMurray.

6. Be Columbo- Check out all your costs and expenses before you sign: utilities, taxes, insurance, maintenance and homeowner dues, if applicable. Make sure all utilities are on (gas, electricity, and water), so you can inspect everything in working order. Ask lots of questions and be very detail conscious.

7. Don’t Wait for the Bottom of the Market- The odds of your hitting the bottom of your market are about like the odds of you hitting the 6/49 lotto! You will almost never hit the bottom of a market. And trying to time it exactly right is often costly. It usually causes a person or family to miss out on the opportunity to purchase a very nice property. You’re better off simply negotiating the best rate and terms you can at the time you find a property. If interest rates go down, you can refinance. This is a much better approach because you won’t miss out on the property you’ve spent so much time locating.

8. Plan For Flexibility- Closing dates are not written in stone. Allow for contingencies and have a back-up plan. Don’t be discouraged if you, your buyers, or the sellers need a little more time to finalize the arrangements. These types of circumstances are not uncommon in a real estate transaction in Fort McMurray.

9. If It’s Not In Writing, It Doesn’t Exist- All promises and discussions are to be in writing. Don’t make any assumptions or believe any assurances. Even the best intentions can be misinterpreted. Have your Fort McMurray real estate professional keep an ongoing log (in writing) of all discussions, and get the buyer’s or seller’s written approval for all agreements.

10. Loyalty Breeds Loyalty- Be open, honest and up-front with your Fort McMurray Real Estate team. Hard feelings and disloyalty will cause headaches, delays or may even keep you from getting into the home you worked so hard to locate. Take the time to select the right team in the beginning and your first home purchase will be a simple, easy and profitable experience you’ll have fond memories of… for years to come.

My hope with this report has been to educate you and help you avoid the pitfalls many home buyers go through. I hope you found the ideas valuable and if there is ever any way I can be of service to you or anyone you care about, please contact my office. Your initial consultation is always completely free of charge and you’re under no obligation of any kind. We’ll sit down for 15-20 minutes… no high-pressure, just plain, honest talk about what it’s going to take to achieve your personal goals. Go ahead, pick up the phone and give me a call. I’d love to hear from you!

Posted: November 20, 2008, 8:19 AM on The Financail Post by Jonathan Ratner

Oil companies are flush with cash thanks to the recent period of high energy prices. At the same time, reinvestment in their core business has lagged. This could put Calgary in the middle of a consolidation wave for the sector.

The world’s top five oil companies finished the third quarter with $62-billion in cash and annual cash flow of $232-billion, according to Canaccord Adams. As a result, it expects an increased focus on M&A in the coming year. Canada and the oil sands in particular, could get a lot of attention since it offers meaningful reserve and production growth in a reasonably stable fiscal environment.

Canaccord noted that the market capitalization of large-cap energy companies in Canada has declined more than 50% since peaking in July.

“We believe that major oil companies look beyond the short-term environment, particularly for assets, such as oil sands that have a 40+ year reserve life,” it said. “There will most likely be several bull market cycles for energy over that time period.”

Canaccord thinks Suncor Energy Inc., EnCana Corp., Canadian Natural Resources Ltd., Talisman Energy Inc. and Nexen Inc. are all vulnerable to an unsolicited takeover offer. It listed ExxonMobil Corp., Royal Dutch Shell plc, Total S.A. and Chevron Corp. as potential suitors for Suncor. Their reserves declined 7% in 2007, while production fell 2%, Canaccord noted. These oil giants are also debt free and have generated US$52-billion of free cash flow year-to-date.

Suncor, meanwhile, is considered by many to be a best-in-class producer, particularly in the oil sands. It offers 2009 production of 350,000 barrels per day, oil sands at less than $2 per barrel and a market cap near June 2005 levels.

Likely acquirers for Nexen include BP plc, ConocoPhillips, Eni S.P.A. and Total S.A., Canaccord said, noting that they would all be interested in its Long Lake oil sands assets.

BP and Conoco could also be after Nexen’s unconventional coal bed methane and Horn River shale gas plays. Meanwhile, BP, Eni and Total would be interested in Nexen’s North Sea assets, particularly the Buzzard oil field.

Nexen offers a diversified portfolio with a long lifespan, free cash flow of $1.5-billion annually on production of 250,000 barrels of oil equivalent per day, Canaccord noted. It is also trading near its June 2005 levels.

Jonathan Ratner

Home Maintenance Checklist for Fall and Winter in Fort McMurray, Alberta.
As the winter season approaches and the air become crisp, it’s time to start thinking about preparing your house for the season. The winter season means spending more time indoors, hence roofs need to shed rain and snow, windows and doors need to reject the cold, and the heating system needs to keep rooms comfortable. If any of these components don’t hold up, you might be faced with scrambling around in the wet, cold and dark to fix them.

By handling these important yet reasonably easy tasks now, you can avoid considerable grief later.

Outdoor Preparation

Check the roof for cracked or missing shingles, bald spots on shingles, missing or damaged flashing, and other conditions that might allow leaks. Replace any roof shingles that are missing or damaged. Seal minor cracks or tears with roofing cement.
Check the gutters. If they are clogged with leaves and debris, clean them. Gutters prevent basement and foundation flooding and water damage to siding, windows, and doors.
Check the siding for cracks or damage and seal any leaky spots with clear caulking compound.
Windows and doors. Make sure they are properly sealed with weather stripping and replace any damaged parts. Weather stripping prevents drafts and winter heat loss.
Trim trees and bushes away from the house.
Cover air conditioner and barbecue to prevent winter damage.
Store lawn and patio furniture in a shed or basement. If space is limited, weather-resistant covers can protect outdoor furnishings.
Close your pool before leaves start to fall, and night-time temperatures begin to drop and you risk an algae bloom.
Drain and shut off outdoor water faucets and remove and store garden hoses.
Store kids toys indoors or in an outdoor shed to prevent rusting and fading.
Check and repair exterior lighting before daylight fades.
Scrape peeling paint and apply touch up paint to your siding, trim and fences, and apply waterproofing sealer to your deck if necessary.
Examine driveways and walkways for cracks. Larger cracks should be sealed to keep out water.
Lawn and Garden

Prepare planting beds when the soil is relatively dry. By adding soil and mulch to your beds, you’ll be a step ahead for spring planting.
Plant spring blooming bulbs and perennials.
Protect roses, saplings and small trees by sheltering them with a burlap screen.
Pull weeds to reduce the number of seedlings next spring.
Mow grass short for the final cut of the year by reducing the cutting height gradually to 3.5 cm (from 7.4 cm) until the grass stops growing.
Check ground grading around the house. All surfaces next to the walls should be sloped to shed water away from the house. This is most important on warm winter days, as melting snow runs quickly across the surface of frozen ground. If the grading is incorrect, water will potentially flow into the house, causing basement leakage. Now is the time to use a shovel to re-slope the grass, or call a paving contractor to correct a negatively sloped walkway or driveway.
Indoor Preparation

Bring container plants inside and make sure they are free of pests. Doing so may enable plants to survive the season and bloom again in spring.
Caulk around window and door casings to keep out air and water. If your house has wood siding with window frames that stand out from the siding, caulk the top and sides of the frame. Don’t caulk under the sill as this space should be left open to allow moisture inside the wall to escape. If your house is brick or stone, with window frames that are set into the finish material, caulk all four edges of each frame where the brick mould meets the masonry.
Clean or replace Furnace filters as needed. Check and clean dryer vent, air conditioner, stove hood and room fans. Keep heating and cooling vents clean and free from furniture and draperies.
Ensure that all smoke detectors, carbon monoxide detectors and fire extinguishers are in good working order. Replace batteries as needed, or at least twice each year.
Have your heating system checked by a licensed heating/air-conditioning professional. Most furnace manufacturers recommend annual inspections.
Have your chimney(s) inspected by a chimney service and, if necessary, cleaned. Cleaning is generally recommended at least once a year for an active fireplace.
Store plenty of salt or rock salt, snow shovels, and any other items you will need during the winter.
Examine the basement floor and walls for cracks or leaks; seal as needed.
If you plan to reside elsewhere during the winter months, you may want to partially shutdown your home. In addition to the tips above, consider the following:

Leave the temperature at its lowest setting, usually between 5 to 7 degrees Celsius or install a low-heat thermostat to maintain the air temperature at approximately 5 degrees Celsius
Turn off and drain the water heater; leave a reminder to refill before restarting.
Keep the electricity on so lights will continue to function (put lights on timers).
Unplug the microwave, clothes dryer, televisions and other appliances not in use.
To avoid large repair bills and the hassle associated with breakdowns, take the time now to develop an action plan for the coming months. You’ll feel secure in your warm home or while you’re away from home.
A Fort McMurray winter can be hard on a house, following the easy steps above will help preserve your investment and prevent any unnecessary chores or repairs that might be difficult to do during winter.

For all your Real Estate needs in Fort McMurray, please visit www.McMurraysBestHomes.com or call Patrick Dardis of Royal LePage True North Realty at 780-715-1382

Mould is microscopic fungi, a group of organisms which also includes mushrooms and yeasts. Fungi is highly adapted to grow and reproduce rapidly, producing spores and mycelia in the process.

You encounter mould every day. Foods spoil because of mould. Leaves decay and pieces of wood lying on the ground rot due to mould. That fuzzy black growth on wet window sills is mould. Paper or fabrics stored in a damp place get a musty smell that is due to the action of mould.

Mould, however, can be useful to people. The drug penicillin is obtained from a specific type of mould. Some foods and beverages are made by the actions of mould. Good mould is selected and grown in a controlled fashion.

Mould is undesirable when it grows where we don’t want it to, such as in our homes. Over 270 species of mould have been identified as living in Canadian homes. Mould that grows inside may be different from mould found outside.
What makes mould grow?

Mould needs moisture and nutrients to grow. High moisture levels can be the result of water coming in from outside, through the floor, walls or roof; or from plumbing leaks; or moisture produced by the people living in the house through daily activities like bathing, washing clothes or cooking. Water enters the home when there is a weakness or failure in the structure. Moisture accumulates within a house when there is not enough ventilation to expel that moisture.

Different kinds of mould grow on different materials. Certain kinds of mould like an extremely wet environment. Other kinds of mould may be growing even if no water can be seen. Dampness inside the material can be enough to allow the mould to grow.
What are the health effects of exposure to mould?

In addition to often ruining surfaces and materials upon which it is present, certain strains of mould can also be quite damaging to our health. Indoor mould has been implicated in causing cold symptoms, headaches, difficulty breathing, skin irritation, allergic reactions and aggravated asthma symptoms. Pregnant women, infants, the elderly and those with respiratory problems or weakened immune systems are more susceptible to mould.

How do I know if I have mould?

Mould may be any colour: black, white, red, orange, yellow, blue or violet. Dab a drop of household bleach onto a suspected spot. If the stain loses its colour or disappears, it may be mould. If there is no change, it probably isn’t mould. Sometimes mould is hidden and cannot be seen. A musty or earthy smell often indicates the presence of mould. Even when you don’t notice a smell, wet spots, dampness or evidence of a water leak are indications of moisture problems and that mould may follow.

White salt marks forming on concrete might indicate that excessive moisture is moving through the foundation. Get your weeping tiles checked by a professional.
How can I prevent mould?

Keep it out. Although mould usually develops due to the conditions outlined above, it can also be brought into the home on furnishings, potted plants, stored clothing and bedding material that we might bring in from outside. It’s important that you check that items are mould-free before bringing them into your home.

Keep it clean. Old-fashioned housekeeping is the first line of defence against mould. There are no strict guidelines for how often to give your home a good scrub, but people who are more sensitive to allergens should clean more often, perhaps on a weekly basis, while others might be able to go two weeks between rigorous cleaning.

Keep it dry. You should keep humidity levels low in your home. Give your home as much ventilation as you can comfortably achieve. Opening windows when cooking or when taking a bath or shower helps to reduce the amount of moisture in the air and you should keep on top of any areas that are prone to condensation. Wipe down kitchen work surfaces regularly and clear up any spills or stagnant pools of water. If some materials cannot be completely dried (eg., drywall or insulation), you should replace them.

Keep it uncluttered. Don’t store boxes up against concrete walls or floors. This could lead to moisture getting into the boxes and creating a haven for mould while damaging your goods.

How do I deal with mould and moisture?

Keep an eye out for leaks by identifying small pools of water, any discolouration or wet spots. Fridges, freezers, air conditioners and leaky washing machines are all easy targets and either a visible mould patch or a musty smell is usually the giveaway.

There are various products on the market that will help, such as fungicidal products. Wipe down affected areas with a fungicidal product that carries a Health and Safety Executive “approval number”. Dry-clean mildewed clothes and shampoo mouldy carpets. Where possible, remove lining paper and wallpaper where you suspect mould growth, treat the plaster and then paint or paper the area again. After treating mould-affected areas, redecorate using a good-quality fungicidal paint.

If you have problems controlling mould or a family member suffers from respiratory or other health problems that appear to be aggravated inside the home, seek a professional by contacting your local Canadian Mortgage and Housing Corporation (CHMC). The CMHC can provide you with a list of individuals who have completed the CMHC Residential Indoor Air Quality Investigator program.

The news is filled with headlines about the state of today’s housing market south of the border-”Foreclosure sales are up.” “Real estate prices are down.” “Borrowers are defaulting on sub-prime loans.” It’s easy to be confused and uncertain about whether now is a good time to buy a home.

Although the Canadian market is not as robust as it was a year ago, housing prices have been stable for several months, mortgage rates have dropped this year and there is overwhelming choice of homes currently available in all price ranges. All these factors add up to an ideal market place for first time or move up home buyers.

The turbulence we’re seeing in the housing market is not all problematic. For some, it has opened up new opportunities. If you have good credit and your finances are solid, you may be able to benefit from today’s housing market.

As a first-time home buyer the current market offers you many advantages, such as:
1. Lower interest rates
Today’s long-term fixed mortgage rates are relatively low. The Bank of Canada had dropped the key interest rate a couple of times in the last few months. Today’s historically low interest rates mean you’ll benefit from increased buying power if you’re shopping for a home.

2. More negotiating power
In the hot real estate market of a few years ago prospective home buyers often found themselves in a bidding war when making an offer on a home. Today’s cooler market means buyers have more bargaining power. More sellers are now willing sell at less than list price or offer other incentives.

3. Wider selection of properties
Today’s larger inventory of homes for sale means more properties to choose from. It also means home buyers can afford to be more discriminating and take the time to find a home with all of the features that they are looking for.

4. Sales incentives
Many new home builders are beginning to offer incentives to lure buyers. In some cases, they’re offering price discounts or complimentary extras such as granite kitchen countertops or upscale appliances. Some private home sellers are also throwing in a variety of incentives such as paid closing costs or free home inspections.

Historically, the housing market has been cyclical. Every period of sustained price increases has been followed by a period of declining values. It’s therefore not surprising that after the boom of the last few years, we’re currently experiencing a housing market correction. In most parts of the country, the days of being able to profit from buying and selling a property quickly may be over, at least for a while. But owning a home and building equity in real estate is likely to remain a sound long-term investment.

The fundamentals of the Canadian economy and today’s buyers market suggest that now is an excellent time for prospective buyers to explore opportunities to buy a new home. Consult with your agent, do some research, and buy, buy, buy!