Thursday, July 20, 2017

open house 2-4:30pm Jul. 22 @ #4 1618 28 AV SW

open house 2-4:30pm on Jul. 22. 

Welcome Home! This cozy town home nicely is nicely appointed with Espresso Cabinets and granite counter tops and durable laminate flooring on the main floor and has great use of space with non wasted. Located on a quiet street in South Calgary you are close to all amenities including walking distance to Marda loop. This pet friendly complex is close to lots of walking paths and very close to the River Park Dog Park. You are also close to 14th and Crowchild to help you get downtown in minutes or out of town quickly as well. Two decent sized bedroom and a full bath accompany the upper floor laundry with its high end front loading washer dryer.




Open House 2-4:30pm Jul. 22 @ 42 Dalhousie Cres NW

open house 2-4:30pm on Jul. 22. 

First time home buyer or investor ALERT! Walking distance to Dalhousie LRT, bus stop, shopping & short drive to U of C. This original 2-storey home shows very clean. There is a big living room on main floor with dinning area and breakfast area in the spacious kitchen. Laundry room is on main floor. Upper level you will find big size master bedroom which has access to 4 pc common bath, 2 other bedrooms and a corner kids study area. Call for a viewing before it is gone. Welcome home!






Market Report - June spells a gradual recovery

Stable prices in detached sector signal balanced conditions despite increased inventory
Calgary's housing market in June saw a modest improvement in sales along with an increase in new listings.
However, demand gains have not kept pace with the amount of new listings coming onto the market. This caused inventory levels to increase to 6,659 units, which is 11 per cent higher than last year's levels. 
Despite the recent shift in inventory this month, second quarter activity continues to demonstrate improved supply-demand balance and price stability. City wide benchmark prices totaled $441,500 in June. This is a 0.5 per cent gain over last month and nearly one per cent higher than last year.
"The supply gain this month will be monitored. However, on a quarterly basis, inventory levels remain comparable to last year, sales have improved and there have been modest price gains. All of this remains consistent with expectations of a gradual recovery," said CREB® chief economist Ann-Marie Lurie.
Year-to-date residential sales in Calgary totaled 10,322 units, which is 12 per cent above last year's levels. New listings increased by three per cent over the same time period. 
Overall, both the sales-to-new listings ratio and months of supply have trended down this year. This signals more stable pricing in the housing market this year. 
"While there were many buyers waiting for lower prices to step into the housing market, there were also many sellers waiting until prices stabilized before listing their home," said CREB® president David P. Brown. 
"Some of this recent growth in listings will help provide more choice, particularly in the detached market where market conditions had significantly tightened over the past few months."
Detached inventories and sales totaled 3,224 and 1,385 units, for a month of supply of 2.3 in June. Despite the recent rise in supply, over the first half of this year inventories have averaged 16 per cent below last year's levels while sales are 13 per cent higher, keeping this segment in more balanced conditions.  
While activity is also improving in the attached segment of the market, resale activity in the ownership of apartment-style product continues to face challenges with weak sales relative to listings and rising months of supply. 
As of June, the unadjusted benchmark price for an apartment style product totaled $265,800. This is nearly four per cent below last year's levels and 11 per cent below recent highs.
Click here to view the full City of Calgary monthly stats package. 
Click here to view the full Calgary region monthly stats package. 

Thursday, July 13, 2017

Bank of Canada Hikes Interest Rate: Here's What This Means For You

The Bank of Canada announced Wednesday it's hiking its key lending rate to 0.75 per cent, from 0.5 per cent. It's the first time in nearly seven years that the central bank has raised borrowing costs for Canadians.


Here's why the bank made the move, what it means for you, and what happens next.
Why did the bank hike rates?
The Bank of Canada is worried about inflation making a comeback in the economy, and hiking interest rates is a proven tool for fighting inflation, which eats away at people's savings and reduces their spending power.
Right now Canada has very little inflation, but the economy has been growing at some of its fastest rates since before the financial crisis, and job growth has been stellar (351,000 jobs added in the past year). This sort of thing is usually followed by inflation, hence the bank's move.
Not everyone agrees it was the right move. Some of the more bearish analysts say Canadians have taken on too much debt to start raising rates now, and the move is bound to hurt consumers. They predict the Bank of Canada will halt any future moves to hike rates when that becomes apparent.

What happens now?

The banks will pass on the higher interest rate to borrowers. If you have a variable-rate mortgage or a home equity line of credit (HELOC), meaning a loan against the value of your home, your interest costs will rise as soon as your lender raises their rates. You will be paying more in interest costs and less towards the principal.
If you have a fixed-rate mortgage, your interest rate won't rise until it's time to renew. At renewal, you may find the mortgage rates offered to you are higher than last time around, and you are facing larger monthly payments.

Will this cause a housing correction?

All eyes will be on the housing market to see how it handles the increased cost of borrowing, but the experts say this 0.25-percentage-point hike isn't big enough to tank the market.
But this likely isn't the last rate hike, and the analyst consensus is for two more hikes before the end of 2018. If that were to happen, some borrowers could start to feel the pinch.
A recent survey from insolvency firm MNP Ltd. found 27 per cent of Canadians say they are already "in over their head" with mortgage debt, even before any rate hikes. Fully 44 per cent said they would be facing insolvency if their costs rose by $200 per month.

What can I do to protect myself from rising interest rates?

If you're worried that you won't be able to afford your loan(s) when rates rise, the first thing to do is stop borrowing any more money.
Secondly, if you have any leeway to make extra payments on your debt, do it. Take advantage of today's low rates to make sure you have less debt when rates rise.
If you are a would-be borrower considering a home or car loan, run your own "stress test" on your potential debt. Use an online mortgage or loan calculator to figure out what your debt would cost you if interest rates were to rise by, say two or three percentage points.
If you can still afford your debt at those rates, you're probably OK. If you can't afford it, consider a less expensive home or car.

Monday, July 3, 2017

卡尔加里6月份房地产市场--- 独立屋有些好转,公寓路慢慢长

六月份房地产市场逐步复苏
尽管库存可售房源增加,但是独立屋产品价格仍然相对均衡

本月卡尔加里二手房市场销售量增加,同时挂牌量也有所增加。然而,买家的购买行为还是比挂牌的速度慢,结果库存可售房源增加到6,659 单元,比2016年同期高出11%。(是啊,那时候更多卖家还在继续观望,到了2017年好不容易不过去两年好一些,还不赶快出手?!) 

尽管本月库存可售房源增加,但是第二季度交易行为持续显示了供需之间的平衡,以及价格的逐步稳定。整个城市六月份底市场基准价为$441,500,比五月份微高0.5%,比去年高了快1%。(看,就连1%我们都也要好好庆祝一下)

"我们还要持续观察这个月供给的增加,但是就第二季度表现来看,库存可售房源和去年相比还是有对比性,销售量提高了,价格也有所提升。这些房地产要素保持稳固发展,并预期会逐步复苏。”房地产局首席经济学家 Ann-Marie Lurie说到。

截至第二季度底民宅共售出10,322单元,比去年增加12%。新挂牌量比去年同期增加3%。总体来说,卖出房源/新挂牌房源比率以及供给月份吸收率都降低了些,这些都显示了今年的房地产市场价格更加稳定了。 

"在更多买家继续等着价格降低然后趁机买入的时候,同时卖方也期待着价格稳定后他们好挂牌。”房地产局主席David P. Brown讲到。(看,市场永远都是关于买卖双方的较量。) 

"近期部分新增挂牌房源会给买家更多选择机会,尤其是独立屋产品段,因为过去的几个月以来市场条件有所绷紧”。6月底独立屋可售房源共3,224套、卖掉1,385套,目前市场吸收率为 2.3个月份(不到75天)。尽管近期在卖房源增加,然而整个上半年库存量还是比去年降了16%,可是卖掉的房源却比同期涨了13%,使得市场趋于均衡发展。(刚开始不容易理解,怎么可卖的房源降了那么多,后来想明白了。是啊,买家担心万一价格大幅增加,不出手岂不后悔?所以成交量增加) 

与此同时,连体房屋产品段也有所改善,就是公管公寓产品段仍然面临挑战,成交量惨淡,挂牌量、月度供给量却持续增加。6月底公管公寓市场基准价没怎么调整,还是$265,800。比去年同期降了4%,比前一次峰值低了11%。

Wednesday, June 28, 2017

2017 RE/MAX Recreational Property Report


As real estate prices remain high in Canada’s urban centres, young families are looking for unique ways to finance their dreams of recreational property ownership. In a recent survey conducted by Leger, more than a quarter (28 per cent) of Canadians with children under the age of 18 indicated they would consider selling their primary residence in the city in which they live in order to purchase a cottage, cabin or ski chalet. Other options that these potential buyers are willing to consider include fractional ownership in a shared property, purchasing a recreational property with a friend or family member, and renting out the recreational property they purchase on a vacation rental website such as AirBnB.
In a separate survey of RE/MAX brokers and agents, 73 per cent of regions indicated that young families with children were a key driver of demand in their market, including established recreational regions such as the Okanagan Valley in B.C., Canmore, AB, Collingwood, ON and the Laurentians in Quebec. Retirees were also a key driver of demand across Canada, with more than half (55 per cent) of regions surveyed reporting an increase in retiree buyers this year compared to last year.
Continued high real estate prices in regions like Toronto and Vancouver have led to large numbers of retirees and Baby Boomers nearing retirement to sell their homes and put the equity they received from the sale into the purchase of a recreational property. This has in turn resulted in the price appreciation that we’ve seen in popular recreational property markets such as Whistler in B.C. and Haliburton in Ontario.
The RE/MAX survey of brokers and agents found that 39 per cent of regions experienced an increase in demand from buyers leaving either the GTA or B.C.’s Lower Mainland compared to last year. More local markets such as Salt Spring Island, located a few hours away from Vancouver and the Kawarthas in Ontario, experienced significant increases in demand as a result of this trend. Regions as far away as Ottawa’s Rideau Lakes Region and P.E.I’s north and south shore also received a boost from buyers leaving the GTA who are looking for great value on properties further out from the Greater Golden Horseshoe.
In Leger’s survey of Canadians, almost two-thirds (65 per cent) of millennials (18-34 years old) expressed interest in purchasing a cottage, cabin or ski chalet in the next 10 years. A quarter of respondents also indicated they would consider purchasing a recreational property as an investment vehicle to help finance retirement. At the same time however, many millennials feel that high real estate prices in the city in which they live will negatively impact their ability to buy a recreational property in addition to owning a primary residence.
To overcome this gap between demand and affordability, many Canadian millennials are willing to turn to unique financing methods to help purchase a recreational property. Nearly half (44 per cent) of millennials said they would purchase a property with a family member, while 39 per cent would purchase a property and rent it out using a vacation rental site such as AirBnB. Additionally, over a quarter of young Canadians (age 18-34) said they would consider selling the primary residence in which they live, while one in five millennials said they would consider both fractional ownership of a shared a property or buying with a friend.

Thursday, June 8, 2017

House prices on the rise in Calgary

For the fourth month in a row, home prices went up in Calgary.
The Calgary Real Estate Board says improved demand and easing supply last month created balanced conditions and modest price gains for single-family homes.
In fact, for the first time since June 2015, the price for a detached home did not decline on a year-over-year basis.
“We can really see a slow but sure recovery in the housing market,” CREB president David P. Brown said. “Demand for detached product is driving a new sense of optimism for consumers as we move further into spring.”
The average price is around $509,000, up one per cent from the year before.
However, the prices for multi-family homes, including condos, fell another two per cent compared to last year — even as the market returns to more balanced conditions.
“With the change in market dynamics, people no longer feel like they may need to settle for a second choice in a property,” Brown said. “There are lots of housing choices in every segment of the market and that made for a good situation in an already active spring market.”