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Kirby Cox & Associates News

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Found 7 blog entries about Kirby Cox & Associates News.

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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  • 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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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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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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164 Rockyledge View NWArriva Calgary Condos

Blue Sky at Rocky Ridge . . . the name says it all!!

This “Streetside Development”, located at the S.W. corner of Rocky Ridge Ranch in N.W. Calgary has been a “Mecca” for the Investment-Savvy condo buyer since its inception in 2003. With 232 residential units encompassed within 16 stacked townhomes buildings, there is a mix of bungalow style and two storey units. Virtually every property at Blue Sky takes advantage of its breathtaking mountain and valley views. With its unique terraced location, this popular condo complex invites the views into each home adding to the allure and quality of living.

Blue Sky’s resort-style design provides for private entrances (some with attached garages), front patio models and perched

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The nationwide Royal LePage agent rankings were released earlier this week, and Kirby Cox and Associates is proud to have been named number one in Calgary, number one in Western Canada and number four in Canada.

Kirby Cox is one of Calgary's top producing REALTORS® and has been working in the industry for nearly 30 years, selling over 300 Northwest Calgary homes for sale each year. Our team has now held a spot in the national top ten list for Royal LePage for six years!

This is Kirby Cox and Associates' fourth consecutive year as number one for Royal LePage in Calgary, and actually an increase from our seventh place spot in Canada last year.

We want to share our gratitude with our valued clients and fellow agents, especially at this time of year.

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