Erics Info

What is a foreclosure?

What is a foreclosure?

By definition, a foreclosure is “the action of taking possession of a mortgaged property when the mortgagor fails to keep up with the mortgage payments”.

Essentially this means that the homeowner failed to keep up their end of the agreement by not making the mutually agreed upon mortgage payments. The foreclosure process can take months to make its way through the court system, sometimes even years. In general, the foreclosure proceedings will not commence until the borrower has missed 3 or more payments on the mortgage. Once the bank has taken back possession of the property, the bank will re-list the home for sale on the open market. Many people are under the assumption that these homes are always a “bargain”; however, this isn’t always true. The bank will do a formal appraisal of the property and take into account numerous things such as market value, location and the actual condition of the property. Once the home is sold, the proceeds will go to pay the remaining amount of debt owing to the bank that held the mortgage. The remaining proceeds, if any, will then be released to the original home owner minus any legal expresses, taxes or anything else owing against the property.

If you’re thinking about buying a foreclosure, WE CAN HELP! We have years of sales experience in the Calgary and area market. We have the knowledge and tools to help you make an informed decision about buying foreclosed properties.

Community Statistics

Altadore Community Stats

Altadore is a residential neighbourhood in the inner-city portion of the southwest quadrant of Calgary, Alberta. It is located between 14 Street and Crowchild Trail, south of the neighbourhood of South Calgary. It is bordered by the Elbow River and the River Park to the southeast.

Altadore was named one of Calgary’s best neighbourhoods in 2010 for its proximity to River Park, one of Calgary’s best parks on the Elbow River, and Marda Loop, the largest and busiest outdoor shopping area in Calgary, and for having a vibrant party and cultural scene.[3] The Marda Loop[4] Business Revitalization Zone is located within the community, along 33 and 34 Avenues SW. The neighbourhood is experiencing a gentrification process with many high-end, luxury semi-detached homes built in the last ten years, favoured by trendy, young professionals and families.

Altadore was established in 1945. It is represented in the Calgary City Council by the Ward 11 councillor. The community has an area redevelopment plan in place.[5]

-Source Wikipedia

Considering buying or selling in Altadore?

With extensive expertise in new infill construction and redevelopment of inner city land including investment properties I can provide you with the necessary knowledge and data to help you make a confident decision about the real estate market in Altadore, after all our office is here!


Altadore Public Schools: Calgary Board of Education (CBE)

Altadore Separate Schools: Catholic Separate School Board

Altadore French Immersion Schools: Calgary Board of Education (CBE)


Altadore Real Estate Statistics – Detached

Total Listings: 28
Average Price: $1,281,011
Average Sq. Feet: 2,326
Highest Listing Price: $2,390,000
Lowest Listing Price: $638,000


Altadore Real Estate Statistics – Attached

Total Listings: 18
Average Price: $921,167
Average Sq. Feet: 2,023
Highest Listing Price: $1,500,000
Lowest Listing Price: $459,800


Erics Info

What is an Infill?

What is an Infill?

Most people believe that an “Infill” is a new duplex in an older area where the previous home has been torn down. This is correct to some extent; however, the definition of an Infill is: “the use of land within a built-up area for further construction”. An Infill can take the form of several property types, including a single detached home, a duplex and a four plex. In Calgary, we have seen tremendous growth in this type of construction. In SW Calgary, Altadore has been the main hub for Infill development; the same can be said for the Hillhurst area in the NW. The driving force behind the cost of these homes is land value, the one component of real estate that cannot be recreated; when it’s gone it’s gone. Another factor that affects Infill development is the zoning classification for an area: R1, R2- RC2 and so on. These zoning codes dictate what type and how many of a property type can be built on a specific land parcel, thus making certain plots more desirable for developers.

If you’re thinking of getting into the Infill market, I have an extensive background in Infill marketing, development and new construction. Please give me a call anytime to discuss what your options may be if you’re considering building or purchasing an Infill!