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.
Calgary is a sophisticated and changing marketplace, so you need a really good REALTOR on your side to help ensure your home is sold for the best price and terms, in the shortest time, and as stress-free as possible. From the initial home evaluation and market analysis to preparing and staging, photos & marketing and, most importantly, the negotiations and sale — we’ll help ensure you and your property are represented professionally.
We are always happy to chat in person with you about the entire process.
So you’ve decided to sell your home… now what?
This is always a big deal and will, undoubtedly, affect your life in a significant way.
It’s important to know that for a few weeks while your property is being prepared to sell, you’ll need to possibly arrange for minor repairs of anything that needs it and to do a bit of editing and staging. We want to see your home through the eyes of the potential buyer. You’ll also need to keep the home clean...
The number of new listings entering the market remained comparable to last year, but those levels far surpassed sales activity. This is resulted in further gains in inventory levels. Elevated inventories relative to sales caused months of supply to rise to nearly seven months.
According to CREB chief economist Ann-Marie Lurie,
“The slow start to the year does not come as a surprise, as concerns about job losses and the state of the energy sector weigh on consumers. We anticipate that the slow market conditions will persist throughout much of the first quarter.”
It should also be noted that CREB has released their 2019 Real Estate Forecast. According to the forecast summary, the...
It may come as a surprise to you, but there are over 100 real estate boards in Canada and they all have their own MLS Systems.
What won't surprise you is that the vast majority of home sales are completed with 2 agents involved through our local MLS Systems – somewhere near 98%. So how do real estate agents see listings for sale? They look at their own MLS System. As a Calgary real esate broker, I only have access to see the listing details of the homes listed for sale on the CALGARY MLS System. I don't have access to see the details on the listings from the other 10 MLS Systems in Alberta (let alone other systems from other provinces). Yes, I can sell homes and represent buyers and sellers of homes anywhere within Alberta, but at the moment we only see local listings.
So, how does that affect you?
Well – here is an example: I used my website to look for listings in Calgary and there are over 7,000 listings for sale (yep, no surprise there). Then, I looked for listings in Edmonton,...
Hello, 2019! Here are the latest housing market updates for areas covered by the Calgary Real Estate Board (CREB)!
In their latest media release, CREB has highlighted that job market weakness and lending restrictions was a common thread in 2018’s housing market.
As of December 2018, an oversupply continues in Calgary’s housing market. Prices for the month were lower compared to both the previous month, as well as the previous year.
According to CREB Chief Economist Ann-Marie Lurie,
“Persistent weakness in the job market and changes in the lending market impacted sales activity in the resale market this year. This contributed to elevated supply in the resale market, resulting in price declines.”
Regarding sales, a total of 794 units were recorded for the month, which shows a decline of 21% compared to December 2017. Overall year-to-date sales in the city totaled 16,144 units, which is 14% lower than the total in 2017, and is also almost 20% below long-term averages....
It's now the new year and yesterday morning I pulled off the stats for the month of December 2018 from the Calgary MLS® System.
While December is normally a slow month for sales and listings, it's VERY CLEAR — 2018 was an incredibly slow year for real estate sales and deals were available at every turn (if you knew where to find them). January is expected to slowly be populated with new listings. If you were waiting for the good selection of homes to choose from, don't wait any longer than the third week in January to start your hunt!
So, how is the market?
Here is the breakdown as of yesterday morning:
Total Calgary MLS® System within Calgary for residential properties for sale:
4,976 properties available in inventory
779 properties marked sold in the last 30 days
That makes 6.39 MONTHS of inventory — a strong BUYERS' market
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...
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...
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
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...
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...
When a home owner decides to sell their home, they obviously want the best possible price for it with the least amount of hassles along the way. However, for the vast majority of home sellers, the most important result is actually getting their homes actually sold.
In order to accomplish all three goals, a home seller should realize the importance of using a real estate broker. We realize that technology has changed the purchaser’s behaviour during the home buying process. According to the National Association of Realtors’ 2016 Profile of Home Buyers & Sellers, the first step that, “…44% of recent buyers took in the home buying process was to look online at properties for sale.”
However, the report also revealed that 96% of buyers who used the Internet when searching for homes purchased their homes through either a real estate broker or from a builder or through a builder’s saleperson. Only 2% purchased their homes directly from a seller...
Your home isn’t selling and yet the current, local real estate market is really quite active. You naturally ask yourself, “Why?”
Sadly, not all real estate agents are equal. Some only use the classic 3 P’s of real estate marketing: Put a sign in the yard, Put the home in the local MLS System, and Pray that the home sells.
But there are also some other sure signs that it’s time for you to face the music and hire someone else:
1. The online photos leave a lot to be desired. With real estate being a cut-throat and expensive business to be in, many real estate agents are trying to cut expenses wherever they can. Too often, we see homes being photographed with cellphone or point and shoot cameras. Often, real estate agents don’t have the tools to crop, colour balance or control exposure in their photos. Worse still, they don’t know when they should hire a professional. For the minimal cost, this is one area that agents should short-change...
Drones, also known as Unmanned Aerial Vehicles (or UAVs), have recently entered the mainstream market in Canada and are now widely used both commercially and recreationally. For use in real estate, the activity is considered strictly a commercial use. Commercial drone use is heavily regulated and compliance is required in order to fly.
Operating a drone means that certain rules and guidelines must be followed to ensure the safety of the drone's team, of the public, and of manned aircraft in the area.
All drone flights must take place in daylight and in good weather,
Aircraft must remain in visual line-of-site of the drone pilot at all times,
Drone operations must be conducted outside of airport airspace, away from populated areas, buildings, public areas, and busy roads, and cannot go higher than 90 metres, vertically,
The privacy of others must be respected.
While most of these rules are primarily safety oriented, they may also affect when and how one is able to capture aerial imagery,...
You've probably been driving around Calgary and have seen several RE/MAX® Real Estate Signs.
RE/MAX actually has some of the strictest real estate signage rules among all the various real estate brands (both franchised and independent). The colours, the style, the layout and the content are strictly defined by our corporate offices.
Currently, there are two basic styles. Both indicate which franchisee is being represented in the bottom line of each sign. In Calgary, for example, there are over 10 different RE/MAX offices working the city so you may see a sign from any one of them. The individual real estate agent's name is also required to be on the sign (and the name has to be the one that is registered on their provincial real estate licence. A nick name, if used, must be on the licence too.) Team names are permitted, but they should always include the name of the individual agent that has the listing.
In accordance with Canadian Anti-Spam Legislation (CASL), we do NOT give our permission for other commercial enterprises to contact us for any other commercial messages by email, text message, fax or telephone. Required Disclosures: Different commission rates, fees and listing and marketing services may be offered by other RE/MAX franchisees, brokers and associates in Canada. All realty services offered and provided through exclusive independent contract through, and on behalf of, RE/MAX iRealty Innovations. Incentives, inducements, commission rates and representation agreements are offered on behalf of, and with the authority granted by, the brokerage.
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.