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Tuesday, September 18, 2012
Fall 2012: Where is Calgary headed?
What does this Fall weather do for the Calgary Market? It is always good to understand the direction of our real estate market so lets analyze a recent trend:
Over the last few months we have seen Sellers increasing their asking price for homes. The graph below details of the average listing price VS the average sold price. This identifies the relationship between the expectations of sellers and the reality of what buyers are actually willing to pay. This is NOT the same as the very common “list price to sale price” percentage, as many homes that have been listed multiple times or have expired, never actually sell. This chart allows for these data anomolies and shows a more realistic story.
The distance between these two lines will determine the pace of the current real estate market. The larger the distance between the lines, the slower the market will be as the price the average Seller wants for their home is higher than what the average buyer will pay. As prices begin to meet buyer expectations, homes sell faster and both lines will move toward each other. This illustrates the importance of proper pricing on the part of sellers.
So where are headed? Sellers must come down with the list prices to meet the buyer demand in Calgary. You must price your home correctly otherwise it wont sell. As you see in the graph, the expectations of Sellers is not being met.
Sunday, August 5, 2012
Calgary Market Stats July 2012
Calgary Bucks National Trend (As Usual)
Double digit year-over-year sales growth demonstrates differences between city and national trends
What does this all mean? Prices in Calgary are still affordable and there are incredible deals out there. There has been a small price rise in the past 2 years even though AVERAGE Sale prices have risen. This is because there are more luxury homes selling over the past year and this drives the average price and other housing indicators up.
Over the past 7 years Calgary has consistently been its own Real Estate Market - an island separate from the national statistics referencing the Canadian Housing Market. When things were flat elsewhere, we saw house prices double. When sales were increasing in Toronto and Vancouver, we saw house values decline 20%+ on average. Now we are seeing strong sales, and slight apprecaition while Toronto and Vancouver are just starting to cool off.
Calgary continues to buck national housing sale trends. The 1,936 residential units sold in July represent a 21.3-per-cent increase over 2011.
“Recent mortgage rule changes prompted much discussion of a national housing correction. While the two largest cities (Vancouver and Toronto) have started to witness declines in home sales activity, Calgary continues to record improving sales and prices,” says Ann-Marie Lurie, Chief Economist for CREB®.
“The gains were supported from the economic growth in the region,” Lurie says. “Last year, Alberta led the country in economic growth and – with Calgary being the energy capital of the country – the city has benefited from growth in full-time employment, migration and overall improved confidence.”
Year-to-date City of Calgary sales totaled 13,684, a 16.5-per-cent increase over the same time in 2011. Other sectors within the city limits have also recorded significant growth. The single-family market recorded the largest gains at 18.9 per cent, while the condominium apartment posted a 9.4-per-cent rise year-to-date.
Wednesday, May 2, 2012
Top 5 Real Estate Trends in Calgary
1. Mortgage Rates Will Rise
The financial industry worldwide is still feeling the effects of the 2008 financial collapse and global recession. There is a strong fiscal push for monetary stimulus and part of this is historically low interest rates. There is nowhere for interest rates to go but up. It will happen sooner or later and this is guaranteed.
2. Hard To Get Financing
Over the past few years, the Canadian Government has implemented changes to the mortgage industry in hopes of reducing debt. It continues today with the questions surrounding CMHC and the insurance they can offer. This has resulted in an enormous number of Calgarians that cannot get financing. How long will these rules be in place? The government will not make qualifying any easier in the short term.
3. More Foreclosures Coming
Many of the lenders in Canada were issuing high risk mortgages prior to 2008 and then packaging these mortgages and selling them off as assets (Subprime Lenders). These banks are no longer writing mortgages in Canada. When these mortgages come up for renewal, these lenders do not have the ability to extend existing mortgages (even if homeowners have NEVER missed a payment). Since many of these mortgages were created when house prices were at a peak, the values of the mortgages exceed current home values resulting in a situation where many current homeowners cannot get qualified again with another lender and the house ends up in foreclosure.
4. Sell Your House Privately?
People need professionals and professional representation. 95% of real estate transactions are done through Realtors and even through the professional channels, the average selling time is 50 days + if a property sells at all. It is a BUYERS market and will be for some time. Now more than ever Calgary Sellers needs a competitive price and marketing plan that only experienced Realtors® bring to the table.
5. Confusion is Prevalent
Calgarians are still feeling the effects of the financial meltdown in 2008. Everyday there are conflicting financial future forecasts from ‘experts’. Calgarians are confused of where the economy is headed. Every day we hear clients talk about escalating prices, or massive sales, or financial troubles. This has resulted in real estate Buyers and Sellers sitting on the fence.
With all this confusion, its best to call MyHomeAgent TODAY and get accurate information about Calgary's Real Estate Market.
Wednesday, February 1, 2012
January 2012 Statistics
Calgary, February 1, 2012 – Home sales in the City of Calgary are off to a slow start as buyers show continuing caution, according to figures released today by CREB®.
“Overall, the market is behaving as expected for the winter season,” says Bob Jablonski, president of CREB®.
The year-over-year volume of residential sales in the City of Calgary dropped, but the inventory of available homes declined even faster in January 2012.
The City of Calgary residential market recorded 1,078 sales in January, nearly one per cent below the same month in 2011. This is in part related to the drop in new listings, which declined by 8 per cent over January 2011, causing inventory levels to continue to contract over 2011.
“A lower number of sales is not uncommon for the month of January,” says Jablonski. “The number of sales is offset by the number of listings, ultimately pushing the housing market towards a balanced market territory.”
The single-family market recorded a one-per-cent drop in sales over last year levels, while the condominium market recorded a one-per-cent gain. However, the decline in new listings in the single-family market was much higher than the condominium market, with a year-over-year decline of 11 per cent and 6 per cent, respectively.
“As presented in our housing forecast report, a slow start to the year is anticipated, as consumers continue to be cautiously optimistic regarding purchasing and/or listing their home,” says Jablonski.
The average price of single-family homes in January 2012 was $438,683, a 3-per-cent drop over last year, and over December 2011. Meanwhile, median prices in the single-family market remain relatively stable over last month at $395,000, while posting a 1-per-cent gain over the previous year.
“The price changes are related to the composition of what was sold. The rise in the median price was likely due to the increase in the number of homes sold in the $450,000-$549,999 category, as this category recorded a significant jump in activity in January. The decline in average price is due to the rise in sales in the under-$300,000 category, as well as the decline in the number of homes sold in the upper-price ranges,” Jablonski explains.
The condominium market continues to favor the buyer; however, this market is trending towards balance. The average and median price of condominiums for the month of January 2012 were $268,526 and $245,000, respectively. This corresponds to a 7-per-cent decline in average prices and a 4-per-cent decline in median prices.
“Last January, there was a significant jump in sales in both the $600,000+ price range and the under-$200,000 price range in condominiums. For January 2012, while sales under $200,000 remain strong, there has been an increase in activity in the $200,000-$299,999 price range, mostly at the expense of the condominiums priced above $400,000. This explains the significant decline in condominium prices,” Jablonski concludes.
Please note! CREB® will change the way it reports statistics with the February 6 release of the first MLS® Home Price Index (HPI). The HPI, years in development, provides a more accurate picture of the real estate market and how prices are affected by market factors. Average and median prices often misrepresent true price trends because they are affected by factors such as the change in the mix of homes sold, and the number of sales in different price categories.
Wednesday, January 25, 2012
Record Condo Sale Price in Calgary
From our friends at the Calgary Herald:
Calgary condo of a luxury unit fetched a record $8.3 million, before construction has begun.
The 5,260-square-foot condo will cover the entire 12th floor of the 15-storey development called The River, located along the Elbow River, which flows through the southern portion of the city.
Already, more than $30 million in real estate has been spoken for in the project, which includes 38 residences — 27 units in the tower and 11 town houses.
Anne Clarke, director of sales for The River, said eight sales have been completed and three deals are pending.
"These (buyers) are business leaders. They are leaders in not only business, but in our community," Clarke said.Other sales in The River have included units for $5.7 million and $5.5 million.
The top-floor tower unit is listed at $9 million.
"It signifies we really do have a need for this type of product," Clarke said.
The buyer of the $8.3-million condo was not identified, but is described as a longtime Calgary oil and gas executive.
The highest MLS condo sale previously in Calgary was $4.1 million in 2011.
The most ever paid for a single-family home was $10.3 million, in 2009.
The River concept is luxury estate condominiums that offer the benefits of an estate home without the challenges of security and maintenance, said Clarke.
Construction is expected to start by April, with completion in early 2014, said Chris Bourassa, chief operating officer of Ledcor Properties Inc. The River is being developed by 26th Avenue River Investments Inc., an affiliate of Ledcor.
The Calgary Real Estate Board recorded 422 single-family sales of more than $1 million in 2011, up from 346 in 2010.
Twenty-six condos last year sold for more than $1 million, up from 21 in 2010.
"We've had this site for quite some time. We were able to watch what's happened over the last five years," said Bourassa.
"The starter condo market and the mid-market is very well served. But we found there was a hole in the luxury market.
"In talking to our buyers and our focus groups over the last 18 months, it became very clear that there was a lot more demand for larger units."
Saturday, January 21, 2012
First Time Home Buyers Mistakes
A house is one of the biggest investments most Canadians ever make, so it’s important to plan ahead, to think about what you need in a home and what you can afford.
Getting pre-approved for a mortgage is a fundamental way to budget for a home and signal that you’re a serious buyer. However keep in mind that the amount for which you are approved is the maximum amount the lender feels you can afford based on your income and expenses. This figure doesn’t account for other expenses you may face: such as renovations or emergency home repair, as well as regular household costs such as food, utilities, etc.
So Budget accordingly:
Here are some other mistakes first-time buyers make, and how to avoid them:
Not knowing your credit score
A credit rating is a record of your credit history and current financial situation. A good credit rating can improve your ability to get loans, so if your score is low, you may want to work on improving it before you apply for a mortgage.
Not budgeting for the costs of home ownership
Being a homeowner brings new expenses, including property taxes, higher insurance costs, regular upkeep and an emergency fund for repairs. Don’t forget to factor in the cost of any renovations your new home may need.
Not researching down payment choices
Lenders typically require CMHC mortgage loan insurance if you make a down payment of less than 20 per cent, and premiums for that insurance can be as high as 3.75 per cent of the value of the loan. Under the Federal Government Home Buyers’ Plan, first-time buyers can use up to $25,000 in RRSP savings ($50,000 for a couple) for a down payment. A larger down payment will save thousands of dollars in interest over the life of your mortgage.
Focusing too much on interest rates
First-time home buyers rush in to the market when interest rates are low. While rates are important, other things have a greater bearing on the overall cost of home ownership, including the cost of the house, the type of mortgage, the amortization period and pre-payment options.
Not choosing your own payment schedule
Paying off your mortgage sooner saves you interest costs, while a longer amortization period reduces your regular payment and frees up cash flow. You can save thousands of dollars in interest by choosing a shorter amortization period, paying fortnightly instead of monthly, or increasing the amount of payments by even a small amount.
Forgetting about closing costs
In Alberta we dont have many of the closing costs needed in other provinces. When calculating closing costs, assume you will need an approximately $2500.00 cover such things as the home inspection, legal fees, property insurance, utility hook-ups and moving costs.
At MyHomeAgent - we specialize in helping First Time Home Buyers. Call or email us today
Friday, January 20, 2012
Calgary’s Office Market Forecast in 2012
Calgary commercial real estate will continue to evolve into one of the strongest markets in 2012, according to a new forecast by Avison Young. Our friends at Canadian Real Estate Magazine report:
In 2011, Calgary already bested most major cities when its vacancy rate dropped down to 7.2%. Only Ottawa (6.9%), Quebec City (4.7%) and Regina (1%) had lower office vacancy rates.
Looking ahead to this year, the report said Calgary will continue to see major action in offices, with the vacancy dropping to 5.2%, which will put it below Quebec City and Ottawa this time around, but Regina will remain the lowest despite rising to 4.1%.
Vancouver is another city expected to see significantly lower office vacancy rates in 2012, down from 7.6% last year to 6.4% this year, according to Avison Young.
The forecast also included a study of the U.S. market, but as with the residential sector, Avison Young Chairman and CEO Mark Rose found the commercial market to be stronger in Canada.
“There is a dichotomy in the North American commercial real estate market,” he said. Canada is experiencing a period of stability and modest growth, while the United States continues to search for traction in the recovery process.”
That yet-to-recover U.S. market has, nonetheless, attracted an increasing number of Canadian investment dollars.
“Given the relatively small investable universe in Canada, we continue to notice a growing trend of Canadian buyers heading south of the border,” said Rose.
While U.S. cities have much higher office vacancy rates, the trend in many is improving. For example, Chicago’s vacancy rate went from 20.2% at the end of 2010 to 15.1% in 2011.
On the retail side, the trend has been U.S. companies setting up shop in Canada, including Target, J. Crew, Express and Marshalls.
In the industrial sector, years of decreasing vacancy may return speculative development this year in some markets, said the report.
Read More: http://bit.ly/yaXska
Tuesday, January 17, 2012
Calgary Vacancy Rates Dropping
Growing migration and job creation tightened up Calgary's rental market in 2011, says a survey.
The apartment vacancy rate in Calgary decreased to 1.9 per cent, down from 3.6 per cent in the previous year, says the most recent rental market survey by Canada Mortgage and Housing Corp.
"Increased migration flows, supported by improving economic conditions and a return to robust job creation and lower unemployment, had increased demand for rental accommodations," says senior market analyst Richard Cho of CMHC.
Most rental market zones in Calgary saw apartment vacancy rates decline in 2011 from the previous year, while others remained relatively stable.
The downtown zone had the lowest vacancy rate at one per cent in October, declining from 2.8 per cent a year earlier.
Meanwhile, other centres outside the city limits had one of the highest vacancy rates at 3.6 per cent.
For all bedroom types, the vacancy rate in 2011 declined from the previous year. Vacancies in October ranged from 1.8 per cent for one bedroom units to 3.3 per cent for units with three or more bedrooms.
Despite the reduction in vacancies, the average rent in Calgary remained relatively stable.
Following a 2.6 per cent reduction from October 2009 to October 2010, rents for all apartment units in Calgary increased 1.8 per cent this October.
Bachelor suites and two-bedroom units had the strongest year-over-year gain in same-sample rents, both up 1.9 per cent from October 2010.
Overall, the average two-bedroom rent in the Calgary area was $1,084 this October, up from $1,069 in October 2010.
Downtown had the highest average two-bedroom monthly rent, reaching $1,214 in October 2011, while it was $1,173 during the same month last year.
The lowest average two-bedroom rent was in the southeast at $947 per month, while in outlying communities such as Airdrie it was $944.
These two zones also had among the lowest average two-bedroom rent in the October 2010 survey.
The vacancy rate for rental condo apartments remained relatively unchanged from the previous year at 5.7 per cent in 2011.
"Although overall rental demand has been supported by improving economic conditions, factors such as heightened condominium supply and tenants moving into homeownership have kept the vacancy rate among condominium rentals from moving lower," says Cho.
The average condo rent in CMHC's October survey was $1,378 per month, up from $1,355 in 2010.
In the other secondary rental market, the number of renter households reached 54,878 in October compared to 53,312 in the same month in 2010.
Saturday, January 14, 2012
Alberta To Lead Economic Growth
Saskatchewan and Alberta will have the best economic growth over the next two years of all the provinces, according to a forecast out today.
From our friends over at Canadian Real Estate Magazine:
Jacques Marcil, a senior economist with TD Economics, said the economic futures of Canadian provinces this year may largely depend on their connections to Europe and exposure to the strong possibility of a European recession.
Specifically, the report adjusts a September forecast to show slower growth this year in Ontario, Quebec and B.C., while also adjusting for faster growth in Alberta, Saskatchewan and Nova Scotia.
“The corresponding revision to our provincial outlook was unevenly distributed among provinces, but all regions are vulnerable to the uncertainty and volatility expected over the next six months,” said Marcil. “These headwinds will likely intensify at a time when constrained public finances leave very few tools available for Canadian governments to stimulate demand, or at least restore confidence.”
Alberta is expected to see Canada’s strongest employment growth, up 1.5% this year, compared to 0.8% nationally. It was already up 3.7% in Alberta last year. While unemployment will rise from 7.4% nationally last year to 7.6% this year, Alberta will replace Saskatchewan as the province with the lowest rate, at 5%.
“Saskatchewan, which usually acts as a responsive pool of spare workers for Alberta, is failing to do so currently because its economy is performing nearly as well as Alberta’s,” said Marcil.
Overall economic growth, based on real GDP, will increase most in Alberta, up 2.6%, followed by 2.4% in Saskatchewan. Nationally, it will rise just 1.7% this year, following a 2.4% gain last year.
The real estate markets in Vancouver and Toronto, however, are expected to hinder economic growth in their respective provinces, said the report. Toronto will be especially affected by its recent growth in condo developments, said Marcil.
“In addition to the growing pipeline of supply, the knock-on effects of financial market volatility to buyer confidence will likely result in a cooling down in condominium sales in the region in 2012 and 2013,” he said.
Read More: : http://bit.ly/w8h2iX
Monday, January 9, 2012
Target Building Huge Distribution at Calgary
American retail giant Target Corp. is building a huge distribution centre just outside Calgary, the Herald has learned.
Molly Snyder, Target spokesperson, confirmed the centre will be the company’s third in Canada and will be in Balzac in Rocky View County.
“The centre will be approximately 1.3 million square feet and will sit on just under 80 acres,” she said. “Target has selected sites for its distribution centres that will help to ensure that our supply chain needs are met for our Canadian stores. Target intends to open its first stores in March/early April 2013 and its distribution centres will be completed in time to support the needs of the stores.”
She said the centre will be managed entirely by an outside logistics company, Eleven Points Logistics.
“They will manage all recruitment and hiring and will communicate those needs and plans with local communities in the coming months,” added Snyder.
The centre will be located off of Range Road 291, east of Nexen’s Balzac Power Station.
Earlier this week, Target announced the location of its first 24 stores in Canada. As previously announced, Target purchased the leasehold interests of 189 sites currently operated by Zellers Inc., and plans to open 125 to 135 stores in Canada, the majority of which will open in 2013.
The first 24 stores are all in Ontario.
About $10 million to $11 million will be invested to remodel each facility to bring the full Target brand experience to Canadian communities. Each Target store in Canada will employ approximately 150 to 200 team members. Store team hiring will begin in 2012 and Target will “engage” with Zellers associates to make it easy for them to apply for jobs.
Target intends to announce additional store locations in the coming months.
Minneapolis-based Target has 1,767 stores across the United States.
Calgary Target locations will be at Chinook Centre, Forest Lawn Shopping Centre, Market Mall, the Shoppes at Shawnessy, Signal Hill Centre and Sunridge Mall.
Tom Dixon, business development manager of real estate and logistics with Calgary Economic Development, said he expects two or three more announcements this year in the distribution and logistics sector for the city’s region.
“It just really speaks to the critical mass that has already been achieved, that has been built — the synergies that are achieved and the importance of the sector to Calgary and the region,” he said.
The region’s road network, with access from highways and the ring road, is one of the primary reasons for the growth in the sector, he said.
“Each company has its own criteria and determines the kind of facility and the location that works best for them,” said Dixon. “That was the basis of the Target decision. But it’s very much part of the northeast, the airport development pattern. And it’s complemented by what’s happening in the southeast which is more rail-oriented at the CP logistics and intermodal yard.”
Friday, December 16, 2011
Ultimate Hockey Experience Contest!
CIR REALTY Ultimate Hockey Experience Contest!
Enter to Win:
* 10 pairs of Flames tickets valued at $324 per pair. Excellent seats!
* 1 GRAND PRIZE for an all expense paid trip for two to fly to New York City and see the Pittsburg Penguins play against the New York Rangers live at Madison Square Garden!
Saturday, November 26, 2011
Alberta’s Housing Starts Will Increase
Alberta will be the exception to an otherwise overall national decline in housing starts next year, according to a forecast out this week.
The 2011 Housing Forecast, released by Altus Group, predicts Alberta’s housing starts will increase by 11.7%, coming on the heels of a 8.1% decline this year compared to 2010.
The reason is a growing economy that is quickly adding jobs, leading to population growth.
Most other provinces will see a double-digit drop in starts, with only Manitoba seeing a more moderate drop of 5.3% next year.
Alberta will see housing starts in 2012 increase to 27,800 units from the 24,881 this year. In 2010, there were 27,088 housing starts in the province.
Nationally, housing starts will drop 5.4% from 192,000 units this year to 181,600 units in 2012. There were 189,930 starts in 2010.
"With interest rates no longer expected to increase over the next year, home buying intentions have improved modestly,” said the Altus Group in its forecast. “However, deteriorating economic conditions internationally are affecting the outlook for Canada’s economy and leading to lower forecasts of GDP growth in 2012, which will act as a constraint to housing demand.”
Peter Norman, chief economist for Altus Group, said the declines were not overly concerning, however.
“We're talking about basically ratcheting down the level of new housing construction from something like 190,000 units to the mid-180,000s, maybe a bit lower as you go forward,” he said. “That's not in my mind a tremendous fundamental shift, that's not a housing crash, that's not the bottom falling out, there's nothing alarmist about this.”
See the whole story: http://bit.ly/sp0EFk
Friday, November 18, 2011
10 Reasons to SELL During the Holidays
Why should you sell your home with MyHomeAgent TODAY? Here are 10 reasons why:
1. People who look for a home during the Holidays are more serious buyers!
2. Serious buyers have fewer houses to choose from during the Holidays and less competition means more money for you!
3. Since the supply of listings will dramatically increase in the Spring, there will be less demand for your particular home! Less demand means less money for you!
4. Houses show better when decorated for the Holidays!
5. Buyers have more time to look for a home during the Holidays than they do during a working week!
6. Some people must buy before the end of the year for tax reasons!
7. January is traditionally the month for employees to begin new jobs. Since transferees cannot wait until Spring to buy, you must be on the market now to capture that market!
8. You can still be on the market, but you have the option to restrict showings during the six or seven days during the Holidays!
9. You can sell NOW for more money and negotiate a closing in early next year!
10. By selling now, you may have an opportunity to buy during the Spring, when many more houses are on the market for less money! This will allow you to sell high and buy low!
Wednesday, October 5, 2011
Snapshot: Canada's Housing Market
OTTAWA — Home prices rose during the third quarter of 2011, but the raw numbers may not be telling the whole story of the Canadian housing market, a new survey says.
The Royal LePage House Price Survey released Wednesday found that the average price of a home in Canada increased between 5.7% and 7.8% in the third quarter of 2011 compared with the same period last year.
The average price of a detached bungalow was $349,974, a standard two-storey home was $388,218 and a standard condominium was $239,300, according to the survey.
Royal LePage said that the rise in price defied expectations and suggested that record-low interest rates and a fairly stable Canadian economy have bolstered consumer confidence.
However, the third quarter of 2010 was a relatively weak period for housing prices, which makes the increase this year appear rosier than they are and may mask a decline in prices in the months ahead, it said.
“The strength in Canada’s national housing market conceals signs of predictable softening in some regions,” Phil Soper, president and chief executive of Royal LePage Real Estate Services, said in a statement.
“A broader slowdown is expected in the months ahead, but fears of a U.S.-style correction are completely unfounded.”
Vancouver had the highest priced homes in the country during the third quarter of 2011 and was the only city in the survey where the average bungalow or two-storey home cost more than $1 million.
Halifax, Montreal, Toronto, Saint John, N.B., and Ottawa all saw prices increase between 4.4% and 10.4%.
In Alberta, the volume of homes trading hands increased, but prices stayed soft, the survey found: Detached bungalows in Calgary fell 1% in the third quarter.
Victoria was similarly weak, with detached bungalows and standard two-storey homes falling 2% and 1.1% respectively.
See full story here: http://natpo.st/nHaHFy
Friday, August 5, 2011
Unbeatable Summer DEAL
Like painting a portrait or tackling the BBQ, planning your Real Estate moves are always more impressive when they are done during the lazy days of Summer. Enjoy equally impressive education with our Summer promotion.
MyHomeAgent is offering A No Cost Consultation ($250 Value) to review your personal situation and explain the various programs available to you in the Calgary Area regarding home ownership and real estate.
This consultation will explain the following incredible opportunities:
• How to Buy a house or Upgrade to a bigger house with only $2500.00 dollars
• How to Sell your home (even if there with little or no equity)
• How to Sell your home for 5% more than Market Value
• How to Sell your home in 48 hrs or less
• And more….
Remember, this consultation usually costs $250.00, but as part of our Summer promotion, the next 10 clients pay absolutely nothing.
Call us right away at 403-852-6583 to book your appointment and get the answers you are looking for.
Friday, August 5, 2011
Top 8 Low Cost, High Return Renos
Enhancing curb appeal isn't as cumbersome - or costly - as it may sound. It's all about timely exterior prep to boost a property's value.
The exterior plays a HUGE factor in how quickly it sells and for how much. Very simply, it's all about the impact of curb appeal. What is curb appeal? It’s the ONE chance you have at making a great first impression. Buyers can be emotional and the first 20-60 second impression could make the difference between a sale or not (assuming you are priced correctly).
2) Paint exterior trim: You want people to notice a clean and proper exterior. So paint the window frames and battens if it's flaking off.
8) Landscaping: Maintain trees and shrubs, clean up your yard. Landscaping is tremendously important to overall curb appeal so ensure grass, trees and shrubs are properly maintained. And CLEAN up the yard. So many clients refuse to believe this, but think about what happens when you see a big mess? Immediately you think of work, time and cost.
Bottom line - there's nothing better than a well-maintained home. In today's buyers market these eight simple and low-cost steps can ensure you make a great first impression.
Thursday, August 4, 2011
PRICE REDUCTION: Copperfield, Calgary
PRICE REDUCTION: Property at Copperfield, Calgary.
SELLER FINANCED HOME IN COPPERFIELD, CALGARY
ONLY $2500.00 DOWN (OAC)
Mortgage Payment = $1700.00 PER MONTH
*OAC Requirements: GOOD JOB and INCOME
Tuesday, August 2, 2011
Calgary Market On the Road to Recovery
Calgary HOUSING MARKET ON THE ROAD TO RECOVERy
Market improvements driven by clients looking for value
Calgary, August 2, 2011 – According to figures released today by CREB® (Calgary Real Estate Board), residential sales continue to trend towards recovery. After the first seven months of the year, single family and condominium sales totaled 11,798, a 5 per cent increase over the previous year. While the improvements signal market recovery, overall sales levels remain 17 per cent below the 10-year average for this period.
“The recent rise in average days on market, especially in the single family sector, shows that while properly priced homes are selling quickly, over-priced listings remain on the market for a longer period of time. Improving market conditions may have signaled some sellers to be overly optimistic regarding pricing, resulting in a disconnect between seller and buyer expectations,” says Sano Stante, president of CREB®.
Single family sales for July 2011 were 1,153, with a total of 8,380 sales for the first seven months of 2011, an 8 per cent increase over the same period last year. Meanwhile, year-to-date listings continue to remain lower than last year, resulting in inventories trending lower than last year as well. Overall months of supply remain around four months within a balanced range.
“A good selection of housing inventory, combined with positive economic fundamentals, is encouraging buyers into the market,” says Stante. “Buyers are still quite value conscious, and in the current market are able to take advantage of the range of selection in a stable price environment.”
Condominium sales continued to bounce back this month. July 2011 condominium sales total 453, a 14 per cent rise over last year, while year-to-date sales remain 3 per cent lower than the same period in 2010.
“Excess supply and lower demand have negatively impacted the condominium market over the past year,” says Stante. “Nevertheless, the recent pickup in sales, combined with fewernew listings, has gradually reduced inventory levels of condominiums, lowering the month’s supply of inventory from over six months last year to just above four months in July 2011.”
The average price of single family homes in July 2011 was $455,849 and the median price $409,000, similar to levels recorded in July of last year. Condominium prices also remained at levels similar to the previous year.
“Interest rates will likely remain low for the remainder of the year. This factor, combined with relatively stable housing prices and wage growth, will help support affordability levels and promote a healthy housing market in Calgary,” Stante concludes.
Thursday, July 28, 2011
Red Flags for Buying a House
Red Flags for Buying a House
If every transaction and home was simple and easy, then we really wouldn’t need lawyers, home inspectors, Realtors and other professionals to assist and protect us through the process. There are hundreds of things that can be problems in a house:
PLEASE NOTE: These items are NOT deal breakers. They are not necessarily problems in themselves, but should trigger a little more research.
Ask lots of questions and be sure to get accurate information from trusted professionals. MyHomeAgent is there to help you and serve your best interests.
Tuesday, July 19, 2011
Why Do People Actually Buy a Home?
Why Do People Actually Buy a Home?
It seems that every time we talk about real estate today the conversation immediately goes to the financial aspects of buying a home. Where are prices headed? Where are interest rates headed? Should I wait to try and get a ‘better buy’? Should I wait until I can get a ‘steal’?
The odd thing about all these questions is that survey after survey keeps telling us that price is not the reason families actually buy a home. When money is considered at all, it is in light of not paying rent to a landlord. Let’s look at two recent surveys as examples:
National Housing Survey
The top five reasons given in the survey for buying a home, in order, are:
The Myers Research and Strategic Services Survey
The top five reasons given in the survey for buying a home, in order, are:
Price dominates conversation when we talk about buying a home. However, when it comes down to it, we actually buy for the same reasons our parents and grandparents did – we want a better lifestyle for ourselves and our families.
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