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I have listed a new property at 206 2727 28 AVE SE in CALGARY.
LOCATION! This amazing inner city condo boasts direct access to bike paths for commuting into the core and is a short trip to Inglewood and 10mins to downtown. Gorgeous upgrades include stainless appliances, tile in entry way, kitchen & bath, as well as fantastic built in office space with storage and desk. This sunny south facing two bedroom suite is one of only two suites in the entire building to offer the large upgraded over sized shower and beautiful soaker tub. Master bedroom has large walk in closet. As one of the largest suites you also have the convenience of in-suite laundry, extra storage, and gas hookups on balcony over looking the courtyard and Valleyview Park. The park offers a large playground, volleyball courts, water park and city/mountain views. This suite provides the largest titled heated underground parking spot in the building with storage unit and separate bike storage. State of the art security system and secure entry to wonderful atrium provide all the comforts one could ask for.
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Post image for Is This a Good Year to Buy or Sell?

IS THIS A GOOD YEAR TO BUY OR SELL?

by BECKY WALTERS on APR 23, 2013

The Calgary real estate market began recovering in 2012, and so far this year, the future is looking bright.

CREB® statistics for the first three months of the year, as well as its outlook for 2013, suggest the recovery is expected to continue. So, what does this mean for people who are considering buying or selling their homes?

As the president of CREB®’s board of directors, I am also a REALTOR®. One of the most frequent questions I get asked is ‘Is this a good year to buy or sell?’

You’ve probably seen the headlines: “Calgary Real Estate the Lone Shining Star in Canada: TD Report”; “Calgary Housing Market Experiencing Positive Momentum”; and “Calgary Future Homes Value, One of the Best Nationwide!!”

These kinds of headlines, as well as the positivity we’ve been seeing in the local real estate market are a sign that this a good time to both buy and to sell. Based on current conditions, and assuming economic growth follows projections, CREB®’s chief economist Ann-Marie Lurie said we can expect to see moderate price gains in the market this year.

Sellers will be happy to learn our balanced market is continuing to trend into seller’s territory in the single-family market. The condominium market remains balanced.

As spring gets into full swing, we generally expect to see more “For Sale” signs. This could be great news for homebuyers who have been hampered by the lack of inventory in the city.

At the beginning of the year, inventory levels were down by double digits, meaning our market is a bit tight. With fewer houses on the market in the city, buyers have been hopping in their cars and checking out surrounding communities where they’ve been discovering they can get more home for their money.

Of course, the housing market is prone to cyclical ups and downs. The latest TD Economics report released in March looked at national trends and concluded Canadians should expect to “embark on a gradual, modest, downward adjustment over the next three years.” But Calgary, where housing has long been seen as a steady, appreciating asset, will be an “out-performer” in relation to the national housing market.

This is due, in part, to a projected population growth through 2030 that should be above the national average. Other factors that will affect the long-run rate of return for home prices aremacroeconomic fundamentals, such as income and economic growth, and structural changes, including an aging populace and the number of immigrants as a share of total homebuyers.

All of these factors indicate you can buy with confidence and that real estate in the Calgary area will be a solid investment for years to come.

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I have listed a new property at 220 SHANNON MEWS SW in CALGARY.
Pristine custom built one owner 2 story home in a quite cul-de-sac directly across from schools & parks. LOCATION!!! This one of a kind floor plan has hardwood and porcelain tile on the main level with vaulted ceilings. Fantastic flow through the living and dining room to a large kitchen with upgraded stainless appliances. Sunny breakfast nook over looks large multi level deck and inviting family room with fireplace. Main floor laundry and double closet for extra storage. Upstairs boasts 3 large bedrooms with wonderful master en-suite and soaker tub. Custom basement features built in wall unit, rec room with gas fireplace, bedroom with walk in closet, 3pc bath and tons of storage. This amazing home has been meticulously maintained with upgrades throughout. Upgrades include custom Levolor shades, aluminum clad double pain windows and exterior doors, fresh paint in/out, hot water tank and water softener. Bathroom upgrades provide new tile, shower surrounds, low flush toilets, shower controls with temp flow.
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I have sold a property at 493 SUNMILLS DR SE in CALGARY.
This beautiful family home in a lake community boasts custom hardwood floors throughout the main level and has been nicely updated. Brand new kitchen has been installed with granite counter tops, under/in cabinet lighting, new top of the line stainless appliances and re-mineralized water filtration system. All new windows on upper level and main living areas down, all new Levlor blinds, A/C, Lennox Signature series furnace and humidifier. Bright living room is open to above and flows nicely into the dining room. A sunny breakfast nook off the kitchen over looks the back yard and deck. Spacious family room has a nice fireplace with new travertine tile surround, den is a great space for an office or study. Up stairs has a large master bedroom with 4pc ensuite including corner soaker tub and separate shower. Two extra large bedrooms and another full bath complete the upstairs. Downstairs is fully developed with a 4th bedroom hosting California closet organizers, large family/rec room, and gas fireplace.
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I have listed a new property at 493 SUNMILLS DR SE in CALGARY.
This beautiful family home in a lake community boasts custom hardwood floors throughout the main level and has been nicely updated. Brand new kitchen has been installed with granite counter tops, under/in cabinet lighting, new top of the line stainless appliances and re-mineralized water filtration system. All new windows on upper level and main living areas down, all new Levlor blinds, A/C, Lennox Signature series furnace and humidifier. Bright living room is open to above and flows nicely into the dining room. A sunny breakfast nook off the kitchen over looks the back yard and deck. Spacious family room has a nice fireplace with new travertine tile surround, den is a great space for an office or study. Up stairs has a large master bedroom with 4pc ensuite including corner soaker tub and separate shower. Two extra large bedrooms and another full bath complete the upstairs. Downstairs is fully developed with a 4th bedroom hosting California closet organizers, large family/rec room, and gas fireplace.
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SPRINGING INTO ACTION

by CODY STUART on APR 5, 2013

Spring has brought some fresh air to the home resale market in Calgary.

The inventory of active homes for sale in Calgary in March was the lowest level for the month in more than five years. Homes are selling quickly, but the decline in new listings also hampered resale sales growth.

There were five per cent fewer new listings in March compared to the same month in 2012; inventory is also five per cent lower after the first quarter. As a result, volume also dropped by more than two per cent last month compared to March 2012. Overall active listings stand at just 4,006 units, up from February’s levels but well below the number available one year ago.

“Less resale product available to consumers is ultimately limiting sales growth,” said CREB® President Becky Walters. “In addition, resale homes are selling in less time and with continued upward pressure on prices.”

Walters said buyers have grown accustomed to a market where they have more time to make decisions because of ample supply. But, as market conditions have tightened, if they are serious about purchasing a resale home, buyers can no longer significantly delay that decision.

“While market conditions are a far cry from activity witnessed throughout the frenzy in 2006 and 2007, there has been a noticeable change over what become the norm over the past few years.” Walters said.

Single-family year-over-year sales growth declined by six per cent in March, a reflection of declining supply. Active inventory totaled 2,713 units, 22 per cent lower than levels recorded in 2012, and the lowest March inventory level recorded since 2007. The market balance continues to trend into seller’s territory in this segment, causing a year-over-year price increase of nearly nine per cent, for a total of $446,500 in March 2013.

“Tighter rental conditions and continued employment growth has supported housing demand growth,” said Ann-Marie Laurie, CREB®’s chief economist. “However, for those looking for more affordable single-family home products, their choices continue to narrow.”

The Canada Mortgage and Housing Corporation’s Rental Market Report, released in the fall, showed the apartment vacancy rate in the Calgary CMA declined to 1.3 in October 2012, down from 1.9 per cent in October 2011 and the third consecutive yearly decline.

Lurie said new single-family listings under $500,000 are declining at double-digit rates, driving consumers at that price point to either surrounding towns, condominiums or the new home market.

Calgary’s condominium townhouse market was the only category to record a year-over-year rise in sales activity for the month. This is in part because the level of new listings improved in March 2013 relative to March 2012. Condominium yearover- year apartment sales declined by nearly three per cent in March.

However, after the first quarter, sales activity totaled 830 units, a six per cent increase over the previous year. Condominium townhouse sales totaled 652 units at the end of the first quarter, a 15 per cent increase over the previous year.

“The condominium apartment market remains in balance,” said Lurie. “While it has moved to the lower end of the spectrum, it remains better supplied than the single-family market and the majority of product available is in an affordable price range.”

The benchmark apartment price totaled $257,700 in March, a six per cent increase over the previous year. Meanwhile, the condominium townhouse benchmark price experienced a year-over-year increase of four per cent, to $286,800.

“Despite tighter market conditions, it is unlikely that we will have another significant run-up in prices,” said Lurie. “Outside of easing economic factors expected this year, consumers have options in the total housing market.”

Gregory Klump, the Canadian Real Estate Association’s chief economist, said it’s too early in the year to draw sweeping conclusions.

“Until we get well into the summer months, year-over-year comparisons to months in the first half of 2012 are predictably going to be down significantly but not necessarily be indicative of further deterioration,” he said. “Rather, year-over-year comparisons will continue to reflect the long shadow cast by higher sales prior to last summer’s policy tightening. Looking at the monthly trend since then shows that we’ve been seeing reasonably stable trends for demand and prices.”

CREB® Regional Housing Statistics – March 2013

CREB® Monthly Housing Summary – March 2013

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Are you ready to buy a house? Read these home truths first

 

Ora Morison, Special to Financial Post | 13/03/28 | Last Updated:13/03/28 1:11 PM ET
More from Special to Financial Post

Homeownership for twentysomethings has been climbing steadily, but young people need to ask themselves some serious questions before taking the plunge.
FotoliaHomeownership for twentysomethings has been climbing steadily, but young people need to ask themselves some serious questions before taking the plunge.

  • Many young Canadians associate home ownership with their inevitable coming of age, but first-time buyers flocking to the housing market should be armed with knowledge.

As homeownership rates for those in their twenties have been steadily climbing over recent decades in all but the lowest category of income earners, many of these young people are entering the market without knowing much about buying their first home.

“I’ve been saving up for the down payment on the house probably since I was 21,” said Josh McMaster, a 28-year-old who works in accounting in Brantford, Ont.

He hopes to buy his first home within the next year and is looking for a place in the $215,000-$250,000 range. But despite diligently saving hefty portions of his paycheque over the years, Mr. McMaster said he hasn’t done much research beyond scanning local listings online and in the newspaper.

Combined with the fact that buying a home is such a huge financial commitment, inexperienced young home buyers need to be very careful before signing on the dotted line, said Gail Bebee, a personal finance author who is currently teaching a course on home buying at the University of Toronto.

It’s easy for young people to forget about additional costs of home ownership — things they never had to worry about while renting, Ms. Bebee said. These include ongoing maintenance costs, home insurance, and building up an emergency fund earmarked for surprise special assessments if they purchase a condo.

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Young people are often attracted to condos because of their size and proximity to downtown, but condos are among the most complicated properties to buy, Ms. Bebee said. In part, that’s because you’ve got to factor in costs such as condo fees, which condo unit owners can’t control.

Even if young people factor in home insurance, they might not consider that they’ll be paying additional insurance for their mortgage if they can’t afford a minimum 20% down payment.

“[Mortgage loan insurance] can add 4.75% to the value of the mortgage,” Ms. Bebee said. “Which is huge.”

Renting until you can afford a sizeable down payment can avoid that cost, but there is huge appeal — financial and otherwise — to home ownership.

“Once you rent, the money is gone forever,” Mr. McMaster said. “It doesn’t contribute to anything in the future. To have a house in the end, I think that’s great.”

And at his age, the time is right to buy, Mr. McMaster said. “I want to plant roots and start building a family,” he said.

Despite indications that many young people may be delaying settling down until later in their life, data indicate the trend toward home ownership among young Canadians is building. Statistics Canada research released in January shows nearly three-quarters of top-earning twentysomethings owned a home in 2006, the latest year for which there are data, up from 60% in 1981.

But if you’re not ready to settle down, locking yourself into homeownership might not be a smart decision, Ms. Bebee said.

“It depends on your individual needs. Some people are itinerant. They’re planning to move to another city or work overseas for a year,” she said.

Buying and selling within a short period of time means the transaction costs might exceed any gain you might make on your investment.

“Don’t think you are going to buy and move [within] a few years,” Ms. Bebee said. “You’ll make the lawyers rich.”

Because of all the upfront costs to buying, Ms. Bebee recommends planning for at least a five-year timeline in your first home. That means thinking about where you’ll be in your personal life that far down the road.

“You might be married, you could even have a kid,” she said. “You’ve got to forecast.”

 
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