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Calgary Real Estate News

Found 39 blog entries about Calgary Real Estate News.

Cameras EavesdroppingAs more homes are equipped with “smart” technologies for everything from surveillance to home automation, the real estate purchase process is changing.

Home sellers are increasingly using video and/or audio surveillance to eavesdrop on potential buyers, using the information gleaned as leverage. This places the buyer at an obvious disadvantage during negotiations.

With many of today’s sellers using technology to their advantage, it pays to exercise caution. If you are viewing a home, a good rule of thumb is to assume you are being recorded and act accordingly.

Although it can be a challenge, especially since a home purchase can be such a personal and emotional process, try to keep any comments to yourself. The home showing is not the time to gush

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Calgary Downsizing your Home

If you're wondering when the right time is to say goodbye to your family home and downsize to a home more suitable for your lifestyle and needs, consider these scenarios:

  • You plan on travelling: if you're nearing a time in your life when you plan on seeing more of the world, then leaving a big home just sitting doesn't seem sensible. You can downsize to a home that's more appropriate, and then rent it out for the months you are away. 
  • The kids have moved out: with your kids moving out and you becoming an empty-nester, you likely don't need the same amount of space anymore. This also leads into the next point...
  • You have empty rooms: if you have rooms in your house (especially bedrooms) that are sitting empty and you can't come up with a
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Inspecting your Home

Finding a home, you know you can live with can be difficult business. Whether buying a brand-new house from a builder or a resale home there are a number of things you should look for. It’s also important to keep in mind that new homes can be just as problematic as older homes. First of all, let me start by saying it almost always makes sense to hire a qualified home inspector and it can potentially protect you from costly surprises down the road. 

However, if you anticipate serious problems (that you’re not prepared to remedy) in the house, you’re better off saving the cost of a home inspection and moving on to a more suitable prospect. Here are some things to watch for to determine a house’s overall quality before you commit to the cost of hiring

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  • Canmore leads the way with 10.2% price increase
  • Prairies see softening in both prices and sales
  • Prices in British Columbia to remain stable while sales continue to decline

Canadian Lake in the Fall

The Royal LePage 2019 Recreational Housing Report indicates vacation homes in Canada saw healthy price gains going into the 2019 spring market, rising 5.0% to $411,471 compared to last year. As high demand in Ontario and Quebec continue to put upward pressure on prices, Royal LePage is predicting another year of increases (4.7%) offsetting softer market conditions in BC.

Weak demand in British Columbia (mirroring the residential market) and low inventory in Ontario were behind a decline in total Canadian recreational property sales (-8.3%).

Both Ontario and

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Finally some good news in the Calgary Real Estate market, where we're seeing an improvement in sales relative to the number of homes on the market. The uptick in sales for May 2019 was met with a decrease in new listings, easing the pressure on inventory levels throughout the City of Calgary. Homes priced under $500,000 are the driving force behind this sales growth, which we hope to see continue into the move-up market.

"While sales activity remains low based on historical activity for May, the easing prices have brought some people back to market, while also preventing some others from listing their homes,” according to CREB® chief economist Ann-Marie Lurie, “This has started to push the market towards more balanced conditions. If this trend

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Amidst the fall of the oil and gas industry that has been plaguing Alberta and the rest of the nation, the housing market in Calgary continues to hold its ground. Phil Soper, President and Chief Executive Officer of Royal LePage, has reported that we are currently seeing numbers that fall only ten per cent below the level of 2014’s peak housing market. Over a five-year period that included economic downfalls largely due to the oil and gas industry, it is incredible to see just how resilient the housing market in Calgary has remained. 

Calgary is currently situated in a buyer’s market with a high supply of properties listed and fewer buyers looking to purchase. While Calgary sits in this market, those looking to purchase a new property have many

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Calgary Real Estate NewsCalgary's Real Estate market continues to be stuck in the doldrums with the sales-to-new-listings ratio hovering around 47.4%. In simpler terms, of the 16,760 homes listed this year, only 7,945 have sold as of September 30th, 2018.  This continues to put us firmly in a continued Buyers market with Sellers needing to be very realistic about their home prices.

Part of the slowdown can be attributed to the new mortgage stress test rules that took effect in January. These new rules, that were put in place to curb price appreciation in Toronto and Vancouver, have left Calgary caught in the crossfire. Our economy also continues to struggle with unemployment, pipeline uncertainties as well as increases to minimum wage and its effect on small business owners.

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It’s that time of year again – Calgary’s Best Neighbourhoods of 2018 is out! This annual survey is released each year to give Calgarians a chance to rank their own neighbourhood as well as learn about others. The survey is based on factors such as access to parks and pathways, walkability, the number of restaurants and pubs in the area and other qualities that are seen as desirable. Here at the northwest communities that made the top 25 this year: 

  • Arbour Lake #2
    This area is located adjacent to the large Crowfoot shopping area, with all the amenities you can think of: a grocery store, movie theatre, bookstore, clothing shops, gas stations, restaurants, etc.
  • Hamptons #3
    The Hamptons area is located just off Stoney Trail, with quick access
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Everyone knows that buying or selling a house is a big deal. It is most likely the most expensive purchase you will ever make, so you want to make sure it’s done right. Whether it is a condo, a townhouse or a single-family home, there are always hoops to jump through and tricks of the trade that will help make the process easier. This is where a REALTOR comes in. This professional knows the market well, understands the process of buying/selling and knows how to do it efficiently. Here are some of the top reasons you should use a REALTOR® to assist you in buying or selling a home.

Excess of Resources

A real estate agent is generally associated with a large realty company with countless resources and other professionals able to provide you with

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Mortgage Stress Test Calgary

Starting on January 1, 2018, the Office of the Superintendent of Financial Institutions (OSFI) set a new minimum qualifying rate, or “stress test” for all prospective home buyers, even those with a down payment of over 20%.

Before the new rule, only buyers that had a down payment of less than 20% had to make sure they could pass a stress test. Now it doesn’t matter how much money you save for a down payment, if you don’t pass the new stress test, the bank will not give you a mortgage.

Under the new mortgage stress test, potential home buyers need to qualify for a mortgage at a rate that is either 2% higher than the mortgage rate they qualified for, or the Bank of Canada’s five-year benchmark rate.  For most, that will mean qualifying for a home

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