The demand for luxury real estate in Calgary has soared to new heights this year, fuelled by strong economic fundamentals, says a report by Sotheby’s International Realty Canada.

For the first six months of this year, there have been 301 homes sold for over $1 million in Calgary, up 19 per cent from the same period last year, said the report.

From January 1 to June 30, 2011, there were 253 homes sold for over $1 million and another 194 luxury homes sold between July 1 and December 31 that year.

The number of homes listed on the market for over $1 million was 474 between January 1 and June 30, 2011 and 473 homes between July 1 and December 31 in 2011. From January 1 to June 30 this year, there have been 908 homes listed at that price point.

The Sotheby’s report said six per cent of homes over $1 million this year have sold for over the asking price. The first half of last year also had six per cent selling for more than the list price while for the second half of last year it was eight per cent.

As for days on the market, the first half of this year was 53 days while for both halves of last year it was 49 days.

Corinne Poffenroth, a realtor in the Calgary office of Sotheby’s International Realty Canada, said a number of factors have contributed to the demand for luxury homes in the local market.

“We’re seeing a bit of a lifestyle change for some of the Baby Boomers here and that sometimes involves downsizing when they’re planning for retirement and it sometimes involves perhaps purchasing a second property either down south or B.C., and because of that there’s a bit of a trend moving, re-locating from some of the suburban areas back to the urban centres with some of the amenities closer by,” she said.

“I also think there’s some new optimism in the next generation of young professionals here. They’re seeking these exclusive, higher-end properties like both single-family and condo in some of the most sought-after areas of the city. And that can involve both urban and suburban areas as long as there’s amenities and transportation close by.”

Also, there is growing confidence and optimism in the province’s energy sector and all the industries that benefit from that.

“These higher-end buyers if they’re showing the confidence in buying these still multi-million dollar properties and second properties that’s a good thing for everyone else because that confidence just kind of goes on down the line in the market overall. There’s a huge sector of high-end buyers and I think that’s what’s increased the listings because these sellers are wanting to take advantage of this demand for higher-end homes and condos,” added Poffenroth.

According to the Calgary Real Estate Board, MLS sales for properties in Calgary of $1-million or more were: 2011, 446; 2010, 365; 2009, 337; 2008, 369; 2007, 458; 2006, 334; and 2005, 138.

The biannual report of Canada’s four largest urban markets — Calgary, Toronto, Vancouver and Montreal — showed a steady upward trend in the first half of 2012 with Toronto, Calgary and Montreal all reporting double-digit sales growth in homes over $1 million.

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Denis Hrstic
AWESOME REALTOR® http://www.MyHomeAgent.ca

Tired of looking out the window at a drab and damaged deck? Here are some do-it-yourself, simple tips to improve both the condition and appearance of your deck!

Clean

Before thinking about the best décor for your deck, the most important first step in bringing your deck back to life is cleaning. Especially in the summer season, sunlight, water, mold, mildew, dirt, fungus and contaminants like food and pollution can take quite a toll.  Here are a few different options for cleaning pressure treated wood decks, and each of these has its drawbacks:

1. Chlorine based bleach: great cleaner but too much of it can damage the wood fibers.
2. Oxygen bleach: environmentally friendly product, but should not be used on new wood.
3. Pressure washing: too much pressure can damage the wood, so it is important to use a large nozzle and begin at the lowest pressure.

Repair

Following cleaning, it is important to repair any damage on your deck. First, make sure that the deck is secured to the house correctly. Alsoits very important to check the floorboards, stair treads and railing, to make sure that they have not undergone warping. For evident splinters, you may be able to get away with light sanding, but for more serious damage, you should try to replace the boards.

If your deck is stained and you need to match that color, be sure to purchase wood that is already dried. However, when it comes to damaged railing, you might have to replace the entire railing system for a more consistent look and feel. In addition, you should examine the post-caps. If you aren't crazy about your current ones and they've already experienced a lot of wear and tear, rather than spending the money to repair them, splurge and purchase more decorative ones. However, observe the shape of the post-cap and be sure that it will not collect a small pool of water, as to avoid inevitable damage.

Stain

After cleaning and repairing your deck, the next step is sealing. Sealing is arguably one of the most important steps because it preserves the wood and protects it from future damage by elements like the sun and water. When sealing your deck, there are two possible options to consider: a clear seal or a deck stain. It is important to remember that stains can range in color: they can begin as a tint and move up the scale from semi-transparent, to semi-solid, to solid.

Compare the advantages of each: For instance, a transparent stain allows the wood's natural grain to show through whereas solid deck stains can mask wood discolorations. When using a stain, it's important to remember to use the same tint everywhere.

When doing-it-yourself, it is better to use a clear seal because it is easier to clean up and the paint strokes are not as evident. For applying a semi-solid or solid stain, it is easier to get a painting professional because the more pigmented the finish, the more evident the brush marks.

Also consider whether to use a water or oil based stain. Water based stains are more environmentally friendly but need to be applied more frequently, about every 1-2 years.

Most of the info from Yahoo

Denis Hrstic
AWESOME REALTOR® http://www.MyHomeAgent.ca

From CTV News

Denis Hrstic
AWESOME REALTOR® http://www.MyHomeAgent.ca