Real Estate Blog 
Calgary Population Growth Expected to Fuel Housing Demand
Friday, February 10th, 2012 at 10:59am. 24 Views, 0 Comments.
The 5 Fastest Growing Metropolitan areas in Canada:
| Calgary | 12.6% |
| Edmonton | 12.1% |
| Saskatoon | 11.4% |
| Kelowna | 10.8% |
| Moncton | 9.7% |
Yesterday, Statistics Canada reported that the Calgary metropolitan area had the highest rate of population growth in the country at 12.6 per cent between 2006 and 2011. The city now boasts a population of more than 1.2 million.
While industry experts dont expect the cycle to mimic the frenzy of 2006, there is little doubt that the population growth will lead to increased MLS sales and new home construction.
Ann-Marie Lurie, chief economist for the Calgary Real Estate Board, said the growing population will help support increased demand for housing in the…
Inspecting the Home Inspector
Thursday, February 9th, 2012 at 11:23am. 67 Views, 0 Comments.
I am sitting at a home inspection in South Calgary and wanted to remind our readers of the recent rule changes regarding home inspectors in Alberta. Provincial legislation enacted in September of 2011 now requires that everyone performing a home inspection must now be licensed.
The Home Inspection Business Regulation,requires all home inspection businesses and individual inspectors be licensed by the provincial government. To qualify for a licence, inspectors must have successfully completed training from an educational institution approved by the provincial government and pass a test inspection, or hold a Certified Master Inspector or Registered Home Inspector designation.
According to Service Alberta, Alberta consumers, home inspectors, and…
CMHC Backing Fewer Loans
Friday, February 3rd, 2012 at 6:02pm. 67 Views, 0 Comments.
According to an article in the Financial Post, Canada Mortgage and Housing Corp. is cutting back on mortgages it insures as the Crown corporation edges closer to a $600-billion cap imposed on it by the federal government.
Following the third-quarter, a CMHC spokesman confirmed that the agency had committed to back $541 billion in mortgages. The CMHC guarantees high loan to value ratio mortgages held by financial institutions and is backed by the federal government. “CMHC has recently received an unexpected level of requests for large amounts of CMHC portfolio insurance.” said Charles Sauriol, a spokesman for the Crown corporation.
Financial institutions are required to have mortgage-default insurance when a consumer has less than 20%…
Typical January for Calgary Real Estate
Wednesday, February 1st, 2012 at 12:44pm. 16 Views, 0 Comments.
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…
Stable Pricing Providing Opportunities for Buyers
Friday, December 2nd, 2011 at 9:02am. 107 Views, 0 Comments.
According to figures released today by CREB® (Calgary Real Estate Board), Calgary residential sales in November increased eight per cent over last year, at 17,538 after the first 11 months of the year. While sales activity tends to taper off in the winter months, so far this year Calgary area sales remain significantly stronger than levels recorded last year. Single family home sales totaled 962 for the month, an increase of eight per cent from November 2010. Meanwhile, year-to-date sales totaled 12,464, a 10 per cent increase over last year. Over the long term, however, sales remained a tepid 17 per cent below the 10 year average. “Despite any global economic cautions, consumers are actively seeking well priced listings in the…
Calgary Townhomes For Sale
Thursday, October 20th, 2011 at 2:31pm. 57 Views, 0 Comments.
If you are looking for a Townhouses in Calgary, I've created a report- "The 7 Most Expensive Mistakes Buyers Make When Buying a Townhome". You can request it just by contacting me at shane@veerrealestate.com
I understand which mistakes most buyers make when looking to buy a town home in a new complex. Something as simple as reviewing the minutes of meetings can tell you alot about your neighbors.
Whether you are looking to downsize (as many empty Nester's are these days) or are a first time home buyer (newly married or just starting your family) buying a townhouse can be an excellent investment. My caution to you is this- understand what you are getting into before you buy.
It is too late to find out that the condo board is…
Homebuyer Confidence Holds Steady Despite Global Turmoil
Monday, October 3rd, 2011 at 3:01pm. 49 Views, 0 Comments.
According to figures released today by CREB® (Calgary Real Estate Board), residential sales continued to gain momentum in Calgary this year, totaling 14,832 after the first three quarters, a seven per cent per cent rise over last year. “Despite recent turmoil in the global economy, Calgarians are showing confidence in the long term prospects for the city and are taking advantage of affordable and stable home prices,” says Bob Jablonski, president-elect of CREB®. “Undoubtedly, there are a lot of unknowns in the world’s current financial situation, but Calgary and Alberta may be relatively safe havens amidst this uncertainty. Granted, gains in the housing market have been very gradual—but we are seeing signs of…
Homebuyers Take Advantage of Affordability & Choice
Thursday, September 1st, 2011 at 1:38pm. 100 Views, 0 Comments.
According to figures released today by CREB® (Calgary Real Estate Board), sales for upper-end homes are above the pace set a year ago. As of Wednesday August 31, there were 948 single family sales over $700,000 recorded this year, compared to 779 reported for the same period in 2010.
At the same time, sales for condos priced below $200,000 also received a boost, pointing to a growing number of first-time homebuyers taking advantage of affordability and low mortgage rates. There were 834 condo sales below $200,000 this year compared with 596 for the same period in 2010.
“We are seeing a lift in sales at both ends of the market,” says Sano Stante, president of CREB®. “Improving economic conditions coupled with affordability and price stability has…
Calgary Housing Market on Road to Recovery
Tuesday, August 2nd, 2011 at 12:51pm. 139 Views, 0 Comments.
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…
Condo & Home Sales Find Their Footing
Monday, July 11th, 2011 at 10:38am. 79 Views, 0 Comments.
According to figures released today by CREB® (Calgary Real Estate Board), residential sales surged in the month of June 2011 to 1,979 units. While this indicates a third more sales than June 2010, the year-to-date increase proved a moderate 2 per cent. Strong monthly increases does not imply a housing boom, as it is important to put into perspective that sales activity remains below long term averages. While the single family market has shown signs of improvement throughout the first half of this year, this is the first time since April 2010 that condominium sales have recorded a year-over-year increase.
“Improved housing demand is being fueled by a younger demographic and, with the affordability of homes in Calgary, we are continuing to see…