Sonia's Real Estate Blog

When you buy a home, part of the buying process is the closing costs. These closing costs can be a significant chunk of your total amount owed. And it is important that people who are buying a home are taking their closing costs into consideration when it comes time to save for their home.

What are Closing Costs?
Closing costs are the costs that are paid at the end of the transaction when a buyer and seller have come to a decision on what is to be paid and everyone agrees. During this time, the home is transferred from the buyer to the seller. These costs are incurred by either the buyer or seller and sometimes even a combination of both.

What Fees make up the Closing Costs?
There are several fees that can make up the closing costs. These fees are not going to be seen in every transaction, it really depends upon your location, the type of property you are purchasing, and the type of loan that you may be using. Here are a few of the fees that could be included:
– An application fee
– Appraisal
– Fees for the attorney
– Closing fee or the escrow fee
– Courier fee
– Credit report
– A deposit into your escrow account
– Mortgage insurance premium
– Home inspection
– Lender’s policy title insurance
– Origination fee for the loan
– Transfer taxes
– Underwriting fee
– Recording fees
– Property taxes
– And so on…

How Much Should you be Saving?
If you are saving for a home, then knowing what closing costs could be, this can help you to save for these costs. The key is to know just how much your closing costs may be. The rule that most people follow is that the closing costs are often two to five percent of the total home cost. When you do get a loan, more than likely the payback will include your closing costs in the total amount. This loan estimate is only an estimate, and this may change as other fees may be added, increased or decreased. Therefore, don’t think that this is a concrete figure.

Once you have closed on a home, you will receive a Closing Disclosure statement that is going to state what fees are being included in the closing costs. You can then sit down and look at these for a concrete amount. This way, you are not going to be surprised by how much your closing costs are going to be.

So, how much should you be saving? If you have a certain amount that you are wanting to pay for a home, be sure to save up to five percent of this loan for the closing costs. There are times in which you can get the sellers to pay this closing cost but do not count on this. Instead, take the time to make a budget that includes an extra 5% of what you wanted to pay for a home. Not only can I help you find your next home, but I am a licensed Mortgage Broker with Invis in the province of Alberta. Let me help make your home buying experience easier, faster, and way more fun!! Sonia is your one-stop shop for all your Mortgage and Real Estate needs!

When you think of a library you most often think of a librarian sitting at a desk shushing those who walk by. You think of a dark room with fluorescent lighting and the smell of super old books surrounding you. You may envision people sitting around, barely speaking a word for fear of being told to be quiet. What you are picturing is the typical library scene from almost any movie that has been made. However, did you know that there is tons of fun to be found at the Strathcona County Library? And better yet, most of these activities are free!

So, what kind of programs can you expect to find at the Strathcona County Library? This all really depends. However, one thing is for sure, you must have a library card to access these activities. Do not fret, as a library card is completely free. A few of the activities that are seen at local libraries may include:

1. Summer Reading Games – The Strathcona library offers incentives to keep kids reading. From spinning the wheel to read messages from the many animals that reside in Crittertree Park, to exploring faraway intergalactic civilizations in the city of Meliora, there are many incentives and prizes to help encourage reading throughout the summer.  It is all meant to help kids continue to read and do their best!
2. Various presentations are given at Strathcona County Library by some of the experts in your area. For example, a great upcoming event to check out is The Strathcona Writers’ Circle on June 5th. Hone your writing skills, share ideas, and be inspired by other local writers. This is a great re-occurring event that happens the first Tuesday of each month!
3. Our wonderful library has three dozen PC workstations across both floors of the library including wifi service. You can make use of these workstations for up to an hour each day for free! Need to print off your research or an important article you found online? The library has you covered with easy to access printing services.
4. Family Storytime is offered in the mornings for younger kids and their an older sibling/parent where they explore the world through stories, songs, and other fun activities. It is a time that kids look forward to as the person reading often makes this great fun!
5. The Strathcona library also offers various programs and activities for adults – from the Diehards Evening Book Clubs and Scrabble nights, to the Historical Ride Along where you get to enjoy a guided bicycle tour to a historical site in Strathcona County lead by your very own Library staff.

The Strathcona County Library is more than just a place to grab a book and read. It is becoming the best place for adults and children who want to spend their time enriching their lives and learning about new items or experiencing new activities. That is why, when you are new to the area or simply looking for something to do, do not be too quick to dismiss the fun that you can have your local Strathcona County Library.

Interested in moving to Sherwood Park and want to know more about the community? You can read all about Sherwood Park and the benefits of buying and selling with RE/MAX Elite’s #1 Agent – Sherwood Park & Edmonton (2017), Sonia Tarabay! Ready to sell? Get your FREE HOME EVALUATION today!

What does it mean to get pre-approved for a home loan? Is this helpful? Is it something that everyone should do? These are just a few of the questions that people ask when they are starting their search for their first home or their third home. Anytime that you are looking to buy, having pre-approval is going to help you out immensely in the process. But, what is this and why is it so important?

What is Pre-Approval

When you are pre-approved for a loan, this is the amount of money that you are going to get for the home, car or whatever you are taking the loan out for. This pre-approval is like the golden ticket when looking to buy, as it gives you the exact knowledge of what you can and cannot afford.

Why Pre-Approval Is Important

Why is getting pre-approval so important? There are several reasons which include:

• Many sellers will not work with those who are not pre-approved. When trying to buy a home in a buyer heavy market, you will find that anything you can do to make your offer go through, you need to do. And having pre-approval is one of those things that you can do. This gives you a starting and ending point in terms of how much you can afford to spend on the item that you are getting a loan for.
• There are no surprises when you have pre-approval. You do not have to go through the process of finding a new home only to be told that this is out of your budget or that you do not qualify for this high dollar loan.
• Did you know that when you have pre-approval you can actually close on a house faster? In fact, it is estimated that if you have pre-approval, find a home, make an offer and everything goes as planned, you could close on a home within 30 days!

What Goes into Getting Pre-Approved

 In order to get pre-approved for a mortgage or any other type of loan, you have to provide your financial stability to the lender. This means gathering all the financial documents that prove how much you earn, your other bills and the like. You then find the lender that you are wanting to go with, or you can choose to go with a broker you will find you the best terms. You complete a loan application and then you later receive a pre-approval letter from the lender or broker.

This pre-approval letter is your golden ticket to making a deal with a seller on a home. This shows that you do have the finances to buy the home and are serious about buying.

For those who are in the process of wanting to buy a home, the pre-approval should be your first step. This will give you all the information that you need to help with the buying process, in knowing what you can and cannot afford. Not only can I help you find your next home, but I am a licensed Mortgage Broker with Invis in the province of Alberta. Let me help make your home buying experience easier, faster, and way more fun!! Sonia is your one stop shop for all your Mortgage and Real Estate needs!

Staging is a term that is often used by those who are ready to sell their home, as they want to ensure that they are making their home look as attractive as possible to those who are in the market to buy. Staging can be a difficult process, or it could mean making a few small changes that make all the difference in the world. What about staging a home with plants?

Staging a home with plants is a budget-friendly option for those who are looking to enhance the beauty of their home to any buyer. However, this does not mean that you should go to your local nursery and pick up whatever you see first. It does require some planning and tips to help make the most out of the plants that you place in the home.

The Benefits and Drawbacks of Plants in Staging

For those who are still on the edge about using plants in their staging process. Remember these benefits:

• They are cheap and can take up large amounts of space, providing you with something that is aesthetically pleasing at a low price.
• Plants give a home atmosphere and the feel that it has been nurtured and cared for.
• When a plant is placed in a home it also shows the potential buyers that there is enough natural light to foster the growth of a plant, thus this is not something that should be an issue.

However, there are some drawbacks. These drawbacks include:

• These plants require maintenance. If you do not maintain these, then dead plants are not going to help your home look better to potential buyers.
• These can be overused since they are cheap people tend to go overboard.
• Plants can create an odd odour in the home if you are not careful about what you buy!

Tips to Putting Plants into a Home

For those who are ready to stage their home with plants, here are a few design tips that can help!

1. Go to large department stores to get your plants, as they will be less expensive than if you were to go to your local greenhouse.
2. Buy low maintenance plants!
3. Do not use plants that are considered harmful to pets or children.
4. Place your plant in an area near artwork, as they often work well together.
5. You can also place plants outside near decks, patios or the like, as they can do wonders for your curb appeal.
6. Plants should be placed in an area of the home that feel as though it needs a little something.
7. Avoid plants that are like cacti, as they are often considered more work than they are worth for staging purposes.

Remember, plants can be a great way to stage a home on a budget. They breathe life into a home without having to spend a fortune to make it feel like home to potential buyers.

Want more information on staging your home for a successful sale? Get started today with a FREE home evaluation from Re/Max Elite’s #1 Agent in Edmonton & Sherwood Park (2017), Sonia Tarabay!

Every new year brings excitement, challenges and new relationships to look forward to. I always get a big burst of energy in January! It’s almost as though I know I’m in for a big surprise and thankfully it’s always been a happy one.

This year I wish everyone lots of happy surprises, excitement, love, and of course an abundance of personal peace. I wish these important things for people as I wish them for my own family. So stay optimistic about your new year and be sure to enjoy all of the excitement along the way.

May 2018 be your biggest and brightest year yet!

Warm regards,

Sonia

In Remembrance and as an act of gratitude for Veterans, we honour those who have served, and in respect for this day. Wear your poppy with pride. If you haven’t gotten one already, you can get a poppy just about anywhere, at any business. The poppy is a symbol of respect for the greatest of sacrifices by those who fought, and still fight for the freedom we take for granted.

Truly enjoy what you have. Remembrance Day is a good day to be very conscious about the fortunes and people in your life. Try to recall a time in your life when you didn’t have all the luxuries and freedoms you have today. What about the arts and sciences that bring us all closer together and give us a better understanding of one another? And your family’s ability to get the kind of education and job they want, freely? Our livelihoods, cultures and liberties are results of the efforts of those who were willing to sacrifice for the rest of us. They leave their families behind so we can come back to ours every day. So this Remembrance Day, remember these sacrifices and that to honour them, you should truly enjoy all that you have as a result.

Spend the day with good company and find some time on November 11 to gather in support with others who share your observations about Remembrance Day, like family, friends, colleagues or a communion. It’s common tradition to observe a moment of silence at 11AM on the day, so you can suggest this to whomever you’re spending time with.

In Sherwood Park, along with many residents, it is tradition for my family and I to attend The Remembrance Day ceremony at Millennium Place, located at 2000 Premier Way. It commences at 10:30 a.m.

Regardless of what you plan to do this Remembrance Day, I hope it’s a day of reflection for you and those you care about.

Warm regards,

Sonia

It’s a new season! It’s my FAVOURITE season! There are so many wonderful things to enjoy about fall. It’s so beautiful with the stunning colours or red, yellow and orange. Just watch the sunsets and you’ll see these brilliant shades!

Here in Sherwood Park, I see the pretty fall leaves everywhere and I swear the houses look prettier too. It’s almost making them easier to sell! Of course there’s pumpkin-flavored everything and particularly those delicious pumpkin spice lattes! Our wardrobes change and its finally time to break out all those comfy sweaters in our closets!

Let’s not forget that Thanksgiving is just around the corner and there is so much for all of us to be thankful for. And Halloween too! I just noticed the new Halloween store at The Sherwood Park Mall today and I can’t wait to visit it!

At the end of my working day, I love to hear the crackle of a roaring fire. My kids love it too and there’s always marshmellows to roast and hot chocolate to enjoy! These are just some of my favourite things about Fall. They are simple pleasures to cherish. I hope you enjoy this beautiful season as much as I do. I wish you and your family a very happy Fall!

Warmest regards,

Sonia

One of the busiest times of the year for many families is back to school time. This year most of the Sherwood Park schools are starting between August 30th –Sept 1st. Many families hear “back to school” and it brings many mixed emotions especially if you are currently selling your home. When it comes to Real Estate there are positives and negatives we tend to see during this time.

Most years we see a lull in the market around this time. One thing to consider is many buyers are purchasing in areas based heavily on school district. This means they are attempting to close on a home and move into the house before school starts. On average, according to Realtor.ca, it takes 50 Days to close on a house however locally many houses close as quickly as 30 days. This means as a seller you want to have your house on the market no later than early July to be safe, especially if you live a highly desirable school district.

Generally, the types of homes that accommodate family lifestyles struggle the most. Those homes tend to be 3+ bedroom homes. The more bedrooms a home has the more likely a family is purchasing the house. Homes that have immediate possession are more desirable during this time for the families that are needing a home quicker to get settled into the school of their choice.

There are many areas where schools starting don’t affect the market much. Retirement communities, condos, and townhomes are a few examples. Buyers for these style of homes typically don’t have children in school anymore. Don’t be alarmed if you aren’t on the market yet. We do see the market pick back up a few weeks after school is in session and remain solid until the holiday season.

Parents with kids that are off for the summer months keep quite busy. During those months families tend to work less, travel more, and take a break from house shopping. When school starts again families get more into a schedule and then tend to have a bit more time to view homes and get serious on purchasing. If you can’t list now I’d recommend doing so the second week after schools start.

So stay safe out there and watch out for all the kids going back to school crossing the roads. If you have any questions about buying or selling Sherwood Park real estate, please feel free to give me a call. I would love to hear from you!

Warm regards,

Sonia

It’s official! Summer is here! If you’re like me, you love to make the best of our fabulous summers because, as we all no, they always seem to be much too short. Here’s a top 10 list of great things to do in Sherwood Park!

As the saying usually goes – what happens in Vegas, stays in Vegas. But I’m making an exception! I just got back from an amazing three day trip and have some great news to share.

I was extremely honoured to receive both the Remax Diamond Club Award and the Remax Lifetime Achievement Award. The Diamond Club Award is given out annually to Remax’s top agents. Over the weekend I was also officially listed as one of the Top 100 Individual Remax Agents Worldwide.

It was a very humbling weekend and while it definitely feels great to be recognized by my peers for my hard work, it’s truly all thanks to my clients. My amazing base of clients, who I see more as friends and family, are what keep me going every day. They are the fire that motivates me and it was only with their amazing support year after year that I was even considered for these awards.

Thank you again for all of your continued support!

Warmest regards,

Sonia