Getting a mortgage is a straightforward process for many people. However, there are certain buyers whose specific circumstances require a specialized mortgage product.

Kristi Hyson, mortgage associate with Axiom Mortgage Solutions, says some brokers primarily do basic mortgages, so if your needs "don't fit in that box" they might not have a ready solution.

The dish on real property reports

Lost in the lexicon of real estate transactions, a real property report can paint a picture that, in many cases, is worth much more than a thousand words.

An RPR, which is an essential part of real estate transactions, provides a visual and written assessment on the current state of affairs on a given property.

Performed by licensed land surveyors – and ranging in cost from $800 to $1,000 each – this report will disclose essential information such as the property line of a plot of land, recent improvements made to a property and details on any permanent structures (such as sheds, decks, houses, and garages) built on a property.

Dream home might be cheaper now

Even though the real estate market is hotter than anyone expected it would be back in January, many buyers are missing out by believing they  can "lowball" sellers and try to steal a property.

Unfortunately, most under-handed offers are still being laughed at as sellers are aware the sky is not falling. As a result, some buyers are deciding to wait for the market to dip before they purchase.

The downside for would-be buyers, though, is they are missing out on the opportunity to borrow money for cheaper and for a longer period of time.

The City-assessed value of both single residential and condominium properties in Calgary recorded double-digit growth in 2015.

According to the City of Calgary, which mailed out more than half a million property and business notice to residents in early January, the 2015 median single residential assessment grew by 10 per cent to $475,000 from $430,000 in 2014. The median residential condominium assessment, meanwhile, is up 11 per cent to $290,000 from $260,000.

Here are five things you need to know about this year's assessments:

Revenue properties more stable than the stock market

What would you do if you could wake up every morning and have enough money to do  whatever you wanted to do that day?

What if you didn't have to punch the time clock, or head to the office for 9 a.m.?

What if you didn't have to let your boss determine your destiny?

Over the last couple of weeks, I've focused on revenue properties – how one client received 17 per cent returns on her first rental property, as well as three rules for buying rentals.

There's more to it than just buying a condo

In last week's column, I discussed a client who recently purchased a rental property that will    return 17 per cent annually on just the cash flow and mortgage repayment.

That's a pretty good return, especially when considering that return will increase as more principal is paid down, and as the property starts to appreciate in value.

However, there is more to consider than just buying a condo and renting it out. Our client is a smart buyer who followed three basic rules when it came to buying her investment property. While these rules are simple, they are also important.

Can be smarter than stocks or bonds
Calgarians may be surprised to find out just how profitable revenue properties are in this city – even in consideration of claims housing prices are already overvalued.

In fact, annual returns of 17 per cent, or more, before factoring in appreciation or tax benefits are not uncommon. All you need to get started is a 20 per cent down payment, which can be as little as $30,000 – or $15,000 if you partner with someone – decent credit, and the ability to think long term.