Calgary Real Estate News

Look for Proof of a Faulty Roof

New home starts in the Calgary area increased for the sixth straight month compared to the same timeframe last year.  According to CMHC (Canada Mortgage and Housing Corporation) there were 786 housing starts in January, up from 518 during the same month last year.  Metro Calgary itself experienced the most gains at 36%, with 271 homes in the ground, says CMHC.  Construction starts of multi-family units continue to lead the way, averaging more than 340 starts per month since August 2011. 

Taking advantage of the mortgage wars between Canada’s major banks, investors, first-time buyers, and home owners looking to “move up” are out looking for homes in droves.  The big five banks (BMO, TD, CIBC, Scotiabank and RBC) dropped their fixed rates to record lows and it all started when BMO reduced their Low Rate 5-year fixed mortgage product to 2.99%, the lowest interest rate for a Canadian bank ever.  

But prospective buyers need to be cautious and really make sure they know what they’re getting into.  Many of these mortgages come with greater restrictions and higher payout penalties.  Homeowners also need to buy what they can afford, so that when rates do rise again, they won’t be caught holding the bag when they need to renew.

While the mayor is still fighting for changing the regulation of rental suites across the city, the majority of city council seems dead set against easing rules for renting out basement suites in areas of Calgary where basement suites are not legal at this time. And for many Calgary residents, the lack of change in this area is just the way they want it to stay. 

Due to disagreement by the majority of city council, the changes to restrictions on secondary suites have been thoroughly thwarted thus far. All of the council except for the mayor and two aldermen are firmly against the changes and this stance is not likely to change, according to Alderman Druh Farrell. Calgarians should not expect any change in the position on the secondary suite issue

While the concept of a condominium for vehicles might seem like something you’d find in a Disney/Pixar movie, this idea has become a reality in the community of Springbank just outside of Calgary. The Dens is more than a luxury storage facility, it is (according to the company) a “condo development, specifically designed for private storage with a club atmosphere”.

This high-end facility is for residents who not only need some extra garage space to store recreational vehicles, luxury cars, seasonal sport vehicles, motorcycles, boats, and more, but also hobbyists who want a space to gather to share their passion for their collections.

The Dens isn’t just all about vehicles though, management encourages anyone who’s looking for a space to set up their

For anyone concerned about the health of the real estate market in Calgary, the steady increase in sales of single family residences will be welcome news. While the numbers of Calgary home sales have not recovered to the 10 year average rates, experts are optimistic that the local market is continuing to strengthen.

The combination of well-priced homes hitting the market, along with a steady supply of interested buyers has increased home sales by 5% over last year. While the number of sales has been slowly but steadily increasing, home prices have remained fairly stable at reasonable levels that have encouraged potential home buyers to take the plunge.

For homeowners looking for something affordable, there are many homes in Calgary that are priced well

It seems that most people from outside Alberta know a little bit about Calgary. Perhaps they've heard of the world-famous Stampede, where hundreds of thousands of spectators converge upon the city to witness top-quality rodeo events and an impressive roster of great entertainment. Maybe they recall the city as host of the 1988 Winter Olympics, or are aware of the area's importance as major energy suppliers. But there is a lot more to this modern North American city than maybe meets the eye.

As one of Canada's largest cities, home to over 1 million residents, Calgary is a vibrant and fascinating city offering visitors and locals a vast array of attractions and appealing diversions all year round. Located in Alberta's Grassland region, Calgary is nestled

One topic guaranteed to get many Calgarian home owners hot under the collar right now, is the controversial matter of secondary suites in residential districts. In recent years there has been something of an increase in the number of home owners converting their basements, and creating rental units. While the basic principal seems okay on the surface - the provision of affordable housing for low income renters, not to mention the useful revenue earned by some struggling property owners - there are those who see this trend as seriously problematic.

Concerns from residents vary. Some are purely practical. A significant increase in immediate population sizes can cause issues of limited vehicle parking, and the potential strain on local amenities that were

According to figures released today by CREB (Calgary Real Estate Board), single family home sales have increased over last monthes figures as well as levels recorded in February 2010.  Are large percentage of these sales are being driven by first time home buyers in the $400,000 range and under.  This will hopefully lead to an increase in sales this year for the mid to higher end of the market. 

Year-over-year, single family homes sales in February 2011, in Calgary, increased by 13 percent.  Unfortunatley, the same cannot be said for the condominium market which actually saw a decrease of 13 percent from the same time a year ago. 

Congratulations Calgary on being voted the 5th most liveable city in the world! Those of us who live here know how desirable this area is to live in, so this might not be a surprise at all.

The cities were ranked in five major categories: by city infrastructure, environment, stability, health care, and cultural aspects. Calgary rated a score of 96.6 this year, only a shade behind Toronto at #4 with its score of 97.2.

Calgary’s gorgeous collection of parks and green spaces, as well as outdoor recreational facilities, surely helped the city cinch the 5th place this year, as well as the low crime rate.