Written by admin on November 9th, 2009
With all of the recent, positive housing data, I thought this would be a good time to take a look at how the Calgary and Canadian real estate markets are performing. The most recent average home prices, released by CREB, indicate that we’ve seen almost 9 months of uninterrupted growth. Back in December of 2008, the average house price in Calgary was $413,049 and as of September 2009, the average house price was $462,465.
Another important real estate market indicator that has seen improvement in the last month is the amount of new housing starts. Generally, residential construction companies build 6 months to a year in advance. And, an increase in the amount of new starts translates into a vote of confidence for both today’s housing market but more importantly, the housing market 6 to 12 months down the road. For the month of October, housing starts increased 5.4%, building on increases in previous months.
And with all of this positive data, CMHC has gone ahead and improved their forecasts and outlooks for 2010. After a year of dismal news on the Canadian economic and real estate fronts, this is welcome news.
As always, visit my Calgary Real Estate website for further information regarding the Calgary Real Estate market.
Posted in Calgary Real Estate, Market Update | No Responses »
Tags: calgary market update
Written by admin on October 27th, 2009
Google Street View was launched in the U.S. in early 2007 and now after a long wait Google Street View has gone live in a number of Canadian cities, including Calgary. While this technology has a novelty value (yes you can have all your co-workers show you where they live), it also has a practical value for the real estate industry. For clients who are transferring to a city where Google Street View is offered, this technology can allow people to get familiar with those communities that they are interested in, before stepping foot in that city. As well, I am now using this technology to help potential buyers view my listings and the surrounding community, from the comfort of their homes. So, if you’re a buyer who is interested in one of my listings, you will be able to see a street view of that listing, the houses in the neighbourhood, and schools and shopping in the vicinity. While I don’t think Google Street View is a ‘game changer’ , I do believe that it is another important tool in a Realtor’s technology tool belt and I’m happy to offer this feature to my clients and anyone browsing my website.
As always, visit my Calgary Real Estate website for further information regarding the Calgary Real Estate market.
Cheers,
Posted in Calgary Real Estate | No Responses »
Tags: Calgary Real Estate, google streetview
Written by admin on September 28th, 2009
In a recent Coldwell Banker Home Price Comparison Index of North America’s most expensive homes, Fort McMurray beat out both Calgary and Edmonton real estate markets as the most expensive market in Alberta. In fact, Fort McMurray ranked fourth (Calgary ranked fifth with an average price of $525,525) for the most expensive markets in Canada. This study compared the average price for homes that are 2200 square feet, with four bedrooms and two bathrooms in markets around North America. This statistic adds to a number of unbelievable statistics surrounding the community of Fort McMurray. For instance, the average home price in 2006 was $459,140 but by 2008 this number had jumped to $682,149. And, the population of Fort McMurray is expected to boom by around 60% by 2012. What makes these statistics even more amazing is that Fort McMurray is located 435 kilometres north east of any other major centre and the average winter temperature is -19 Celsius. Of course, it is the plethora of oil reserves and an economy based on oil and gas which has ultimately transformed Fort McMurray. And, the prosperity of Fort McMurray has been beneficial to both Edmonton and Calgary, as people commute to and from these centres to the oil rich region around Fort McMurray, for work in the oil and gas sector. This is definitely a community on the move and we’ll continue to watch the pace and growth of Fort McMurray well into the future.
As always, visit my Calgary Real Estate website for further information regarding the Calgary Real Estate market.
Posted in Alberta Real Estate | No Responses »
Tags: Alberta Real Estate, Fort McMurray
Written by admin on September 15th, 2009
Calgary’s downtown and the residential neighbourhoods of the Beltline are ‘on their way up’ so to speak. In recent years, the Beltline has seen its share of infrasture improvements and new residential and commercial development. In fact, this area was targeted by the City of Calgary for redevelopment, under the Beltline Area Redevelopment Plan, in May 2006. Under this plan and with support from the Calgary police service, this area has become a safe and desirable place to live for both families and young home buyers who want to live within walking distance to shops, offices and commercial areas in the downtown district.
Recent evidence of the Beltline redevelopment came in the form of a brand new playground and 2.4 hectare urban park around 13th Ave. and 2nd St. S.W. Families and Beltline residents are celebrating the new park as another significant step forward in the transformation of the neighbourhoods of the Beltline. As part of this project, the Haultain School (the oldest surviving school building in Calgary and built in 1894) will also get a face lift. With refurbished schools, new parks and new, posh condo developments, the Beltline is quickly becoming a desirable place to live, shop and enjoy.
As always, visit my Calgary Real Estate website for further information regarding the Calgary Real Estate market.
Posted in Calgary Real Estate | No Responses »
Tags: Beltline, Calgary Development
Written by admin on September 4th, 2009
When a home is used as a marijuana grow operation, the home must often be gutted and renovated due to moisture damage and mold infestation. And, due to the hazardous nature of mold, these jobs have to be done by qualified professionals. However, in the Calgary housing market, there are no laws or regulations certifying the safety of the newly refurbished home and no legal or obligatory certification for the contractors doing the work. Often these homes are auctioned at prices that are well below market value and at face value, they seem to be excellent deals. However, I always advise my clients to stay away from these homes because I feel that buying one of these homes would be akin to playing ‘Real Estate – Russian Roulet’. And, the new owners have very little recourse if the home is purchased and problems are later discovered.
Because of the prevalence of these reclaimed homes, this topic has become an issue in many Canadian real estate markets, including the Calgary real estate market. Recently, the Calgary Real Estate Association and the University of Calgary have embarked on a project to establish minimum standards for homes that have been residential grow ops. These standards would be unique to the North American market, as there are few cities that have established regulations for the reclamation and resale of home which have previously been grow ops. Further, these regulations would help protect renters as well as home buyers. Hopefully, we will see these regulations in the near future and buyers can be confident that there health won’t be compromised when living in home that was formerly a grow op.
As always, visit my Calgary Real Estate website for further information regarding the Calgary Real Estate market.
Posted in Calgary Real Estate, Home Renovations | No Responses »
Tags: Home Renovations, Marijuana Grow Op
Written by admin on August 17th, 2009
Recently, I had some clients who bought a nice home with a fireplace and mantel. When possession day came we rightfully expected that when we walked through the door, there would still be a fireplace and mantel to greet them. They and I were wrong. The sellers had taken the mantel as they felt that they had a right to it. In this case, the sellers were wrong. Anything that is nailed, screwed or otherwise fixed to the walls or home has been purchased with the home and property and has to stay with the property upon possession day. There is a lot of confusion regarding this topic with both buyers and sellers but there is one simple statement that can sum it up: if you need a tool to remove the object, it needs to stay with the property (unless otherwise stated in the listing contract or offer to purchase). With the few exceptions, if a seller lives by this rule they will not run into trouble.
One exception is lightbulbs. Many sellers have spent several hundred dollars on energy efficient bulbs but unfortunately, if they were present when the offer was written then they are supposed to stay. Another suggestion for sellers is, if you do not want to sell an object or fixture with the house, then simply remove said object or fixture before any showings occur. This is a subject that I talk to my seller clients about and it helps to avoid many problems in the future.
Posted in The Home | No Responses »
Tags: fixtures, possession day
Written by admin on August 11th, 2009
Census data released in July indicates that Calgary’s population increased by over 23000 people, in 2008. While, this growth rate has slowed since the boom of 2005-2006, people are still choosing Calgary as a top Canadian destination for those who are seeking new permanent surroundings. Job prospects and a steady economy appear to be the top draw for people who are moving or contemplating a move to Calgary. And, this western push is something that has not been missed by moving companies who are noticing more moving requests from various eastern areas of Canada to Calgary. Calgary neighbourhoods that have witnessed the largest increase in population include areas such as, Panorama Hills, Evergreen, Bridlewood, and Cranston, among others. While it remains to be seen if Calgary’s economy can continue to absorb the pressure from these job seekers, demand for real estate and rentals will remain steady as these new immigrants settle in to their new city.
Posted in Calgary Real Estate | No Responses »
Tags: Population
Written by admin on August 11th, 2009
First impressions matter. Because of the choice that a buyer has, in the marketplace, a buyer’s first method of exclusion is based on a first impression. However, buyer’s can be doing themselves a disservice if they are excluding potential homes based solely on a first impression and sellers are definitely doing themselves a disservice if they are not showing their home in the best light. Here is an abbreviated list of improvements that a seller can make to easily improve the overall curb appeal of their home:
1. Make sure that lawn is kept mowed and in good condition and remove snow from walkways in the winter. This may seem obvious but I see houses for sale, with unkept yards and slippery side walks all the time.
2. Touch up any wear or fade on the exterior of the home or the fence or out buildings.
3. Fix any broken exterior structures/objects such as eaves-troughs, screens, fences, latches, gates, exterior lights, etc…. I could go on for several paragraphs about this one but I believe you get the idea.
4. Trim trees and bushes for a nice clean look.
5. Clear gardens and planting beds of any weeds.
6. Fix or update blinds and drapery.
7. De-clutter – this means that children’s toys and tools must be placed neatly in sheds and storage areas.
8. Pick up any and all dog feces from your yard.
Again, this list is highly abbreviated but it can give you an idea of what to look for. And, keep in mind that a buyer is much less likely to put an offer in on the home or even continue viewing the home at all if he/she has witnessed an overgrown yard, navigated through a jungle of toys and tools, tripped over an uneven sidewalk and struggled to get through the broken front door before even getting to the interior.
Posted in Home Renovations, The Home | No Responses »
Tags: curb appeal
Written by admin on June 15th, 2009
The recovery in the Canadian real estate continued in June, spreading to 70 percent of markets. In Calgary, seasonally adjusted sales were up 25 percent, ranking ahead of other major markets including, Edmonton, Toronto and others. Most economists and industry experts are singing a common tune; the worst of the downturn in the Canadian real estate market is over. The Canadian real estate market has now seen four straight months of growth and a 16% increase in the average home cost. The most desirable properties appear to be those under $600,000, with buyers who were previously priced out of the market scooping up deals and locking in at record low interest rates.
Posted in Market Update | No Responses »
