A blog cannot deal with all aspects of a subject and is not intended to replace professional advice. It's purpose is to highlight information and identify areas of possible interest. Anyone wishing to discuss this blog or to make any comments or suggestions about this blog is invited to do so by either posting comments or emailing me directly.

 

We’ve made it to December, and here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!


In their most recent market update and official press release, it appears that challenging economic conditions continue to impact the resale market within CREB.


Sales activity has shown a 14% decline for the year so far, and is nearly 20% below long-term averages.


According to CREB Chief Economist Ann-Marie Lurie,

“Recent challenges in the energy sector have weighed on consumer confidence over the past month. Combined with weakness in the employment market and further gains in lending rates, this is impacting ownership demand. Higher inventories and weaker sales are resulting in buyer’s market conditions and price declines.”


CREB President Tom Westcott also stresses the importance of being aware of the latest market trends, as he adds,

“In any market, affordable product is always desirable. For buyers, it may mean being able...

Read full post

As a mid-fall update — with just one week left in the month of November! I pulled the current Calgary MLS® System statistics a few moments ago.


It's VERY CLEAR  the annual decrease in listings for the December holiday season has already begun. If you were waiting for the best selection of homes to choose from, don't wait any longer!


So, how is the market?


Here is the breakdown as of this morning:


Total Calgary MLS® System within Calgary for residential properties for sale:

  • 7,098 properties available in inventory
  • 1,153 properties marked sold in the last 30 days
  • That makes 6.2 MONTHS of inventory  a strong BUYERS' market


DETACHED homes:

  • 3,838 properties available in inventory
  • 663 properties marked sold in the last 30 days
  • That makes 5.79 MONTHS of inventory  a BUYERS' market


ATTACHED homes (townhouses and 1/2 duplexes):

  • 1,836 properties available in inventory
  • 264 properties marked sold in the last 30 days
  • That makes 6.95 MONTHS of inventory...
Read full post

As a mid-summer update — with just one week left in the month of August! I pulled the current Calgary MLS® System statistics a few moments ago.


So, how is the market?


Here is the breakdown as of this morning:


Total Calgary MLS® System within Calgary for residential properties for sale:

  • 8,705 properties available in inventory
  • 1,500 properties marked sold in the last 30 days
  • That makes 5.8 MONTHS of inventory  a BUYERS' market


DETACHED homes:

  • 4,748 properties available in inventory
  • 945 properties marked sold in the last 30 days
  • That makes 5.02 MONTHS of inventory  a BUYERS' market


ATTACHED homes (townhouses and 1/2 duplexes):

  • 2,152 properties available in inventory
  • 314 properties marked sold in the last 30 days
  • That makes 6.85 MONTHS of inventory  a strong BUYERS' market 


APARTMENT homes:

  • 1,805 properties available in inventory
  • 241 properties marked sold in the last 30 days
  • That makes 7.49 MONTHS of inventory  a strong BUYERS'...
Read full post

CREB 75 media release


Mid-year market update: economic conditions continue to weigh on housing


City of Calgary, Aug. 15, 2018 – Stricter lending criteria, higher rates and a slow economic recovery weighed on housing demand over the first half of 2018.


This is causing sales to ease more than originally anticipated. 


"Easing sales combined with rising inventories has pushed the market into an oversupply situation for all products, affecting pricing for all products, which include detached, semi-detached and row, and apartment," said CREB® chief economist Ann-Marie Lurie.


Overall, prices are expected to ease by over one percent across the city, with expected declines ranging from 2.5 percent in the apartment sector to nearly one percent in the detached sector.


"Prices were not expected to improve this year. However, supply has not adjusted fast enough to weaker than expected demand. This is causing us to make a downward revision from earlier estimates."


Economic recovery is expected to gain further traction in the latter half of 2018. This is expected to help limit the pullback in demand, but it is unlikely it will be enough to offset declines that occurred in the first portion of the year. 


Sales activity within the city is expected to decline by 9.7 percent to 17,047 units, a downward revision from previous forecasted levels.


Easing sales continue to be met with a rising number of new listings on the market, keeping inventories elevated. Slight improvements in conditions for the second half of the year are expected to reduce some of the upward pressure on inventories. However, it is also unlikely the issues of oversupply will correct this year, causing modest price easing across most product types.


"Patience is required during periods of recovery," said CREB® president Tom Westcott.


"This is a market where a solid pricing strategy will make a sellers' home more attractive," said Westcott. "The same kind of strategic thinking is true for buyers who need to consider local market trends against long-term property value to make an informed purchase decision."


Why is the housing market struggling to recover?   

  • Higher lending rates and stricter qualifications are preventing some first-time buyers from transitioning to the ownership market. This is also impacting the ability of some existing homeowners to consider moving up to a higher price point. 
  • While the economy is improving, this remains a story of recovery, as the economy has not yet reached the levels of pre-recession activity.
  • The type of job growth has shifted, as employment gains have not occurred in our traditional sectors. 
  • Consumer confidence continues to be impacted by concerns about Alberta's prospects and how much more this could impact housing prices, particularly now with elevated inventories.
...
Read full post

City of Calgary, August 1, 2018 – Recent struggles in the job market, accompanied by yet another interest rate increase, is piling on to the decisions potential purchasers have to make in the housing market.


The month of July saw 1,547 units sold in Calgary, nearly five percent below last year. New listings eased to 2,964 units, causing inventories to total 8,450 units. With more supply than demand, prices continued to edge down, with a citywide average of $435,200. This amounted to a month-over-month price decline of 0.30 percent and year-over-year decline of 1.89 percent.


"Despite some positive momentum in some aspects of our economy, our job market has continued to struggle as of late, with some easing in total employment levels over the past few months and persistently high unemployment rates," said CREB® chief economist Ann-Marie Lurie.


"Also, the Bank of Canada raised rates again in July. Rising costs, combined with a slow recovery, are weighing on the demand for resale...

Read full post

And now an update — just one week later and for the last day of June! I pulled the current Calgary MLS® System statistics a few moments ago.

 

So, how is the market?


Here is the breakdown as of this morning:

 

Total Calgary MLS® System within Calgary for residential properties for sale:

  • 9,239 properties available in inventory
  • 1,929 properties marked sold in the last 30 days
  • That makes 4.8 MONTHS of inventory - a really soft BALANCED market

 

DETACHED homes:

  • 5,026 properties available in inventory
  • 1,233 properties marked sold in the last 30 days
  • That makes 4.1 MONTHS of inventory - a really soft BALANCED market

 

ATTACHED homes (townhouses and 1/2 duplexes):

  • 2,235 properties available in inventory
  • 396 properties marked sold in the last 30 days
  • That makes 5.6 MONTHS of inventory - a BUYERS' market 

 

APARTMENT homes:

  • 1,979 properties available in inventory
  • 300 properties marked sold in the last 30 days
  • That makes 6.6 MONTHS of inventory - a strong...
Read full post

I pulled the current Calgary MLS® System statistics a few moments ago.

 

So, how is the market?


Well, for having just officially starting summer (whereas the "summer market" for Calgary real estate started in May), the market remains quite a bit slower than "normal" — if there is still a "normal" for the Calgary market. The last 10 years have been exceptionally slow with the occasional blip up or down along the way.

 

Here is the breakdown as of this morning:

 

Total Calgary MLS® System within Calgary for residential properties for sale:

  • 9,282 properties available in inventory
  • 1,895 properties marked sold in the last 30 days
  • That makes 4.9 MONTHS of inventory - a really soft BALANCED market

 

DETACHED homes:

  • 5,039 properties available in inventory
  • 1,211 properties marked sold in the last 30 days
  • That makes 4.2 MONTHS of inventory - a really soft BALANCED market

 

ATTACHED homes (townhouses and 1/2 duplexes):

  • 2,248 properties available in inventory
  • ...
Read full post

Last night, we completed another sale (acting for the buyers in this case). So now that makes 7 sales in this little complex known as "3111 Varsity" in the last few years. And, we've done two others in the "sister building" next door: "Little Varsity."

 

This is all thanks to my clients for their support and referrals to other great clients.

 

I'm always working towards being someone you would recommend to your family, friends, neighbours and business associates. It is this type of response that provides me with true joy in beling able to help people with their real estate needs.

 

If I can be of assistance to you, or someone you know, please get in contact with me.

Read full post

Is your real estate agent showing you ALL the available properties?

—  feeling annoyed.

In having dealt with hundreds of potential homebuyers, I have only ever had ONE that said they did not wish to see conditionally sold homes that met their home search criteria in addition to home listings that were clearly Active on the market. Only one!

What's the issue? Agents not showing conditionally sold homes hurts both my clients AND their clients.

I clearly understand that as a showing agent under a representation agreement that I need to (should) know going in to the showing with my clients whether or not there is an accepted offer on a home  and I do. However, all my clients value seeing the home to better gauge home value in that neighbourhood. Agents do ask on every single showing request whether or not the property listing is marked Active or Under Contract.

BUT, it is really frustrating to home sellers trying to sell their home when an agent books a home...
Read full post

I pulled the current Calgary MLS® System statistics a few moments ago. (Yes, today instead of waiting until tomorrow. Why? Quite a number of listings will expire tonight with it being the end of the month, while many agents typically wait until Monday before entering their new listings into the MLS®.)

 

So, how is the market? Well, for having ended the winter market and coming into the spring market tomorrow, it is quite a bit slower than "normal" — if there is still a "normal" for the Calgary market. The last 10 years have been exceptionally sold with the occasional blip up or down along the way.

 

Here is the breakdown as of 13:00 today:

 

Total Calgary MLS® System within Calgary for residential properties for sale:

  • 5,510 properties available in inventory
  • 1,194 properties marked sold in the last 30 days
  • That makes 4.6 MONTHS of inventory - a really soft BALANCED market

 

DETACHED homes:

  • 2,626 properties available in inventory
  • 714 properties marked...
Read full post

There are loads of flooring options available today for the home. But if you’re looking for an inexpensive flooring, especially suited for potentially wet areas such as kitchen or bathrooms, you’re probably going to consider either linoleum or vinyl. Although the terms are often used somewhat interchangeably, the materials are not the same. Historically, the mention of either conjures up images of second-rate products, but both have their applications and a place in many homes. Both linoleum (lino) and vinyl flooring are referred to as “resilient flooring.” Resilient flooring means that if a heavy object were to fall on it, the material wouldn’t necessarily be permanently damaged with a crack or dent. Its shape would be restored somewhat or in full.

 

Linoleum is mostly limited to commercial applications, but not exclusively. Vinyl is found in numerous residential and commercial applications. Both materials are available in sheets and in tiles.

 

...
Read full post

Home Sales Improve

November’s housing market was spurred by a rise in sales, particularly in the lower price ranges.

 

Watch CREB® president David P. Brown as he recaps the key influencers that shaped the market in November.

 

To read the full report and monthly stats package, click here. - Source: CREB®

 

 

Source: Used under standard YouTube licence terms.

 

Read full post

This is an issue I have been discussing for at least 10 years since discovering it was a leading cause of cancer in many areas of North America. Research had been completed in the U.S. several decades ago with regards to electromagnetic radiation around electricity corridors and towers. It turns out that the cause of the higher than normal incidence of cancer were not from EMR, but rather Radon gas which was, coincidentally, naturally occuring in all of the areas of the corridors. Unfortunately, electricity corridors have remained with a stigma eventhough there is no longer the correlation there was once thought.

 

 

Source: Used under standard YouTube licence terms.

 

Radon is a colourless, odourless gas that is produced naturally from the radioactive decay of underground uranium minerals and is often drawn up and concentrated inside our homes.

 

Radon gas is the leading cause of lung cancer in non smokers, and the second leading cause in smokers. Because Radon is an...

Read full post

Prices remain similar to last year, but ease in October

October's housing market conditions closely echoed previous month's trends with easing sales, rising inventories and downward price pressure. Like last month, the monthly activity was not enough to derail gains that occurred earlier in the year.

 

October sales and inventories totaled 1,467 and 6,463 units for a month of supply of 4.4. Several months of elevated supply in comparison to demand has weighed on pricing over the past several months. The city-wide unadjusted benchmark price in October totaled $438,900, 0.6 percent below last month, but comparable to last year.

 

"While economic activity has improved in 2017, it will take some time for this to translate into housing market growth. There have been employment gains, but most of this has occurred in areas with traditionally lower income," said CREB® chief economist Ann-Marie Lurie.

 

"We also continue to face weak migration, higher lending rates and changes...

Read full post

No Pen? No Problem. Sign documents or request signatures anytime, anywhere. You don’t need to print or scan — just use the device at your fingertips. DocuSign makes it easy.

 

Currently, about 265k new users are joining each weekday and 110k are joining each weekend day. Showing that user growth is predictably stable, this ratio has been very consistent over time.

 

It's a sign of good health that the returning population represents a majority of daily users. E-Signing is as easy as 1, 2, 3.

Step 1 – Click the link in email

With one click, you can access the document and start the document signing process on virtually any internet-enabled device.

Step 2 – Follow the DocuSign tabs

Tabs and simple instructions guide you through the signing process. Your electronic signatures are secure, legally binding, and widely accepted for most business transactions around the world.

Step 3 – Finish, and you’re done

Once you’re done signing, click...

Read full post

 

The majority of consumers start their house search online. But could the real estate agent's website’s functionality be turning off potential homebuyers?

 

A few common mistakes that real estate websites and apps are making, including:

  1. The website displays only minimal information.
  2. The website requires the consumer to "log in" prior to seeing the details or more than a single photo.
  3. The website is not mobile adaptive.
  4. The website does not have a consumer-friendly search capability.
  5. The real agent doesn't respond to inquiries through their website.

Let me know if there are other items that you hate about real estate websites.

Read full post

No matter if you’re in a buyer’s or seller’s market, there are a few critical steps you can take to make a smarter purchase. Since buying a home is likely the biggest single investment you will ever make, being prepared will help you make a better purchase. Here are our best tips to buying a home.

 

Know your buying power

 

What is your buying power? It is the combination of your credit-worthiness and how much you can realistically pay for a home.

 

First, you need to understand the hidden costs of buying a home. You will need to save not only for the down payment of your home -- which is typically between 5% - 20% of the offer price -- but also for any additional transaction fees, such as land transfer fee, inspection charges, title insurance, and legal fees.

 

Then you need to know what you can realistically afford each month to understand how much house you can buy. Your mortgage rate will depend on your creditworthiness -- if you have a high credit...

Read full post

The Bigger Picture

 

Watch CREB® president David P. Brown as he recaps sales activity and the key influencers that shaped September’s housing market.

 

To read the full City of Calgary monthly stats package, click here.

 

To read the full Calgary region monthly stats package, click here. - Source: CREB®

 

 

Source: Used under standard YouTube licence terms.

 

Read full post
Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.