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Living in Calgary

For first time buyers in the Calgary real estate market: some tips and other useful information - Part 1

 Calgary First Time Buyer

As Calgary Real Estate continues to show signs of improvement, many first time buyers might consider investing now in the hope of beating a price increase. However, buying a first home anywhere is daunting enough without the added pressure of trying to ‘beat the market’, especially for those individuals who have little to no experience within the Calgary real estate market. In this entry, the first of three offering tips and advice to first time home buyers, we will remind you about the importance in picking a location (it is amazing how frequently we all are susceptible to ‘falling in love’ with a house and not heeding even the most common sense

3,323 Views, 7 Comments

Calgary Real Estate could be affected by the Green Revolution

Green Calgary Real Estate

Canadians can take a breath of fresh air, well at least in 2020, which is the targeted year for a 17% drop in greenhouse gas emission rates. Not only is this great news for the green-minded Canadian, but it might have an impact upon the Canadian real estate market. As the green revolution becomes more popular, buyers, owners, and sellers might want to factor in greener alternatives when looking into investing in the Calgary real estate market.

For sellers operating around realty in Calgary, the incentive to go green is in the potential value it can add to a property. Many effective green solutions require a certain level of renovations to a property. For example, one popular improvement

3,216 Views, 1 Comment

Calgary Real Estate to see modest growth in 2010

CREB Forecast Modest 2010 Calgary Property Growth Good news for Calgary real estate owners and buyers this month according to the Calgary Real Estate Board (CREB) 2010 forecast report released last week.

According to their report, Calgary Single Family homes will see a small price growth (+6.3% over 2009) and a relatively large (+17.7% over 2009) spike in total sales, while the condo market will see prices rise +4.3% over 2009 and a smaller but significant growth (+10.6% over 2009) in unit sales.

According to Diane Scott, the Calgary Real Estate Board President "the good news is low interest rates and price reductions mean buyers can afford more. This has meant monthly mortgage payments have come down dramatically - and are more in line with the income

3,219 Views, 1 Comment

Calgary: Top Real Estate Monopoly Contender

Calgary Real Estate Monopoly Calgarians have to step up if they want their city to be the next “Boardwalk” on the Canadian version of Monopoly. Hasbro’s new Canadian edition is going to be filled with 22 of Canada’s top cities and voting is what is going to be the factor in determining what those cities are. I am willing to bet that whatever city gets to be in place of Boardwalk will get a bump in real estate prices (don’t quote me on it though). All it takes is a few seconds and a few clicks and you can make our Calgary real estate market worth more.

Even Calgary’s Mayor, Dave Bronconnier, came out in full regalia to help push us towards our pcs in support of the Calgary real estate market obtaining that coveted Boardwalk spot.

2,104 Views, 1 Comment

Flames' Goalie Kiprusoff Target of Fan's Laser

Mikka Kiprusoff getting Laser at Vancouver The Calgary Flames took a full 65 minutes plus a shoot-out to defeat the Vancouver Canucks Saturday night (winner scored by Jamie Lundmark) in a hotly contested division rivalry. Along the way, one Canuck fan sitting close to the ice at Vancouver's GM Place decided to shine a green laser at Flames goalie Mikka Kiprusoff throughout the game.

Flames coach Brent Sutter was livid that the culprit was never located and removed from the arena. The Flames staff brought it to the attention of both the on-ice officials and GM Place security earlier in the game after noticing. “It’s ridiculous. We could see it from the bench, see it shining on his mask throughout the whole night,” Sutter said.

While most Canuck

9,102 Views, 8 Comments

Calgary Property Assessments: Fact or Fiction?

Calgary Property Assessment According to the 2010 Calgary property assessments the city mailed out January 4th, Calgary property values dropped by 13% from the previous year.

Clients often call me this time of year questioning their property assessment. The city's assessment process confuses many property owners, who often believe their Calgary home or condo is worth far more or less than the posted assessed values.

Let's be clear about one thing: city property assessments have no relationship to the current market value of Calgary property. The 2010 annual property assessments reflect the estimated market value of property as of July 1, 2009 and include any physical changes that have occurred up to December 31, 2009. The

3,641 Views, 2 Comments

Urban Planning in Calgary

Calgary Urban Planning Urban planning is a relevant topic for anyone interested in the Calgary Real Estate market.

The city, suburban and even development plans for individual subdivisions can have a significant impact on future real estate values.  As such, both buyers and investors in Calgary real estate should make sure to have an adequate understanding of the future impact of this significant topic.

This is a topic that many real estate agents gloss over – but we feel that educating potential buyers and investors is highly important.  Urban planning is a formalized discipline that looks at a wide variety of planning topics; from zoning to green space and community features, such as skateboard parks.

Community features and future structures

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Calgary Real Estate Rental Rates; Among the Highest in Canada

Calgary Real Estate Rental Falling behind only Vancouver, Calgary’s real estate rental rates are the 2nd highest in Canada. Average rents for a two-bedroom unit were just below $1,100, down $48 from the previous year.

We can expect these rates to drop a little further (but still remain in second place nationally) in the Calgary real estate rental market due to an increase in vacancies. The vacancy rate in the Calgary rental market climbed to 5.3% which is higher than the provinces average of 5.5% (a 3% increase from last year). Alberta isn’t the only one; eight out of ten Canadian provinces have experienced an increase in vacancy rates in October 2009.

So what does this vacancy jump mean for potential buyers and

4,356 Views, 1 Comment

 

Single-family Homes Spur Calgary Real Estate Market

calgary-housing-starts_849 Calgary real estate is showing promise with single-family homes being built at a faster pace than the same period in 2008. The Calgary real estate market had a 2009 record of 832 units built in one month. Chief Economist Bob Dugan of the Canada Mortgage and Housing Corporation, said that “despite a small decline in November’s multiple home construction, overall starts numbers were up due to a solid increase in singles starts.”

The renewed interest in home construction and the real estate market in Calgary is likely due to lower prices, reasonable mortgage rates, and less availability. Strong demand for single-family housing continues to rise and push for more new construction.

November’s

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Calgary Market Stats - November 2009 

calgarymetrostatsnov09_897

There's no question that confidence has returned to the Calgary real estate market, as witnessed by the number of higher priced properties that are now selling. At the same time low interest *mortgage* rates and an exceptionally low listing inventory (metro Calgary inventory now sitting at just over 2.5 months of listings) are supporting the price levels.  

The Calgary real estate market maintained its recovery from last years economic downturn by recording yet another strong month in November. Metro Calgary MLS sales for November 2009 show combined residential sales *SF homes + condos* of 1,599 units, a more than 67% increase from the same time last year. At the same time the price of an average SF Calgary home

2,877 Views, 2 Comments