Condos continue to be a big draw for Calgary buyers. According to the latest numbers from CREB®, Resale totals for condo apartments grew to 276 deals last month, up 17 per cent from 236 last year, with sales in both apartment and townhouse condos increasing last month compared to the same time in 2011.

Demand for condos in the Calgary market comes in stark contrast to Toronto, where condo sales plunged 20.5 per cent in the third quarter of the year, despite a 6.5 per cent rise in new listings.

Home buyers and sellers will enjoy new confidence that the home they buy is sound, if the Government of Alberta follows through on its promise to introduce legislation to augment home warranties this fall.

The new rules, to be tabled at the fall sitting of the legislature, which begins Oct. 23, would make warranties mandatory for all new homes, and also toughen fines for negligent builders. The changes come in the wake of an increase in complaints around the province of condo owners facing hefty repair bills on leaky units.

Thinking about buying your first home? Getting ready to sell and upgrade your current home? Do you want to be better prepared and have a bit more knowledge about what all is going on? This is a simple dictionary of real estate terms that will help you out along the way.

This is by no means every term you will hear, but it's a start.

The good thing is that a REALTOR® already knows all of these!