Archive for January, 2011

Calgary Real Estate Board 2011 Market Forecast

Monday, January 24th, 2011

The Calgary Real Estate Board has released their market forecast for 2011.  Below I have highlighted some key areas you may find of interest.

MLS RE-SALE HOMES

MLS RE-SALE HOMES 2009 2010 2011 Forecast Change Forecaster
Single Family Sales 14,400 12,095 14,500 19.9% CREB
Single Family Listings 22,459 25,709 25,000 -1.6% CREB
Single Family Average Price $442,327 $461,144 $480,000 4.1% CREB
Condo Sales 6,328 5,181 6,000 15.8% CREB
Condo Listings 10,323 11,423 10,000 -12.5% CREB
Condo Average Price $283,734 $289,697 $295,900 1.8% CREB
Town sales 3,943 3,525 4,000 13.5% CREB
Town Listings 8502 8828 9,000 2.0% CREB
Town Average Price $352,704 $359,327 $368,500 2.6% CREB

 

New Homes

New Homes 2009 2010 2011 Forecast Change Forecaster
Starts – Single Family 4,200 5,600 6,000 7% CREB
Starts – Multi Family  1,350 3,600 4,000 11% CREB

ECONOMIC INDICATORS

Economic Indicators 2009 2010 2011 Forecast Change Forecaster
GDP -2.8% 2.7% 4.15 1.4% Govt of Alberta
Calgary Net Migration 12,920 -4,154 10,000 340% CREB
1 Year Mortgage Rate 4.05% 3.83% 3.5% -.33% CMHC
5 Year Mortgage Rate 5.5% 5.75% 5.75% 0 CMHC
Oil Price (USD) $60/BBl $79.BBL $90/BBL 13.9% Govt of Alberta
Gas Price (USD) $3.75/NMBTU $4.00/NMBTU $6.00/NMBTU 50% Govt of Alberta
Calgary Employment Growth -1.4% 1.3% 2.0% .7% City of Calgary

 

The entire package with detailed explainations is availiable at CREB FORECAST. COM

If you have specific questions about this report or about the Market today please contact me directly.

Brought to you by Gord Piper and Associates.

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Jan 17, 2010 Government of Canada Mortgage Changes

Sunday, January 16th, 2011

The Government of Canada announced today that it is changing some of the rules for obtaining a mortgage.  

Personally I find it very interesting as last week there were a few rumors and all of a sudden its reality.

Changes include:

  1. Maximun amortizations will be reduced from 35 years to 30 years.
  2. Maximum loan to value for refinances will be reduced from 90% to 85% – March 18, 2011
  3. The Government will no longer offer insurance for lines of credit – April 18, 2011.

In my opinion the changes will not have a dramatic effect on Real Estate and will only affect mortgages with a loan to value of greater than 80%.

What this Means for an average mortgage.

  35 Year Amortization 30 Year amortization
Mortgage $350,000 $350,000
Interest Rate 4.3% 4.3%
Monthly Payment $1605.19 $1724.24

* For a  mortgage of $350,000 at 4.3% it will increase the monthly payment by $119.05 and will have your mortgage paid off 5 years sooner.

Brought to you by Gord Piper and Associates.  For more information please feel free to contact us.

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10 things to do before putting your house up for sale

Sunday, January 16th, 2011

Properly preparing your home for sale can increase its value dramatically and can reduce the amount of time it take to sell your home.   Homebuyers judge your home the minute they walk in and if you don’t catch their interest in the first 10 seconds you probably won’t.   Following are 10 things you can do to make sure you sell your home quickly for top dollar.  

Gord’s Top 10

  1. Keep it Clean:  Is every room neat, spotlessly clean and dusted.
  2. Lose the Clutter:  Have a yard sale, donate or simply start packing.  The less items in your house the larger your house will appear.  You are going to pack when you move anyway so why not start now.
  3. Create the Illusion of space:  Once you have de-cluttered it’s time to re-organize.   Ensure none of your furniture is blocking doorways. Is there excess furniture that can be stored while your home is for sale.  In home staging less is more!
  4. De-Personalize your home:  Make your home “anonymous’ so so that buyers can envision it as their home. 
  5. Freshen it up:  Are there low cost items that can be replaced to give it a fresh look?  In many cases the best investment is some paint!
  6. Make a Good First Impression:  Walking into a home with fingerprints on the door, clutter in the entranceway etc. can influence a potential homebuyer`s decision. 
  7. Enhance Curb Appeal:  Paint or wash the outside of your home, keep your lawn trimmed and flowerbeds weeded.  Clear the driveway of toys and or trash.
  8. Make modern Choices:  make sure that the decor of your home is modern and tasteful.  Replace dated furniture, wall coverings and window coverings. 
  9. Relocate the Pets:  Take your pets with you when your house is being shown.  Make sure your house is odor free and spotless and that pet toys are put away.
  10. Beautify the backyard:  Buyers will typically go out into the back yard so this area should also be in top shape.  Keep the lawn, hedges and flowerbeds manicured. Try to create an entertaining area with patio furniture.

The Ultimate test to see if you are ready.

 Go outside to your street and transform yourself info a Buyer for  10 minutes – walk up to and enter the home – then walk through your home looking from an outsiders perspective – is anything out-of-place, anything appear broken – this gives you a new perspective as you routinely come home and things just blend in after a while. Look at your home from a buyer`s perspective as buyers certainly will.

These tips brought to you by Gord Piper and Associates.  For more information on how to stage your home and get top dollar for your investment please contact us.

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Getting married? Calgary Wedding Fair/Bridal Fair 2011 is a must attend!

Wednesday, January 5th, 2011

Gord Piper and Associates will have an exhibitor booth at the 2011 Calgary Wedding Fair.  If you”re attending please drop by booth #14 and say hi.  Enter to win Air Miles and more.

 

Calgary Show Information

Calgary”s largest and longest running Bridal Fair® !

 The Wedding Fair is the most popular bridal show in Alberta.

 Sunday, January 23, 2011
BMO Centre – Stampede Park
Exhibition Hall open from 9:30 a.m. to 5:30 p.m.
Fashion Shows at 11:00 a.m., 2:00 p.m. & 4:00 p.m.

Attending Calgary Bridal Fair/Wedding Fair will help ease some of the pressure of planning a beautiful wedding by allowing you to compare, taste, touch and see what Calgary and areas top wedding specialists have to offer – all in one convenient location.  Calgary Bridal Fair/Wedding Fair brings you the latest trends and gives you the opportunity of connecting with the service providers you need to create your special day. You will also experience a professionally choreographed fashion show displaying the latest  wedding fashions.  Bring your girlfriends, mom, and even your fiancé and enjoy the day.  Each bride will receive a complimentary copy of Calgary Bridal Guide and will have the opportunity of purchasing the latest copy of Weddingbells Magazine for the discounted rate of $2.00.

 Tips for Attending a Bridal Show

 Register online and save 2.00 per ticket!  If you don”t register online, make sure you register when you arrive at the show.  Registering will enter you into all the prize drawings and you will receive  a complimentary copy of Calgary Bridal Guide.

  1. Create a temporary email address to be used while you are planning your wedding.  This way you can delete it when you no longer are interested in receiving special offers or hearing from the vendors.
  2. Bring adhesive address labels.  This will save you a lot of time when you enter for prizes at each booth. Most exhibitors will want to know your wedding date so make sure to add this information to your label along with your email address.
  3. Allow yourself three hours  to visit the exhibits and watch the exciting fashion show.
  4. Ask lots of questions, that”s what the exhibitors are there for!
  5. Bring your cheque book or credit card in case you decide to book services or hold dates with a deposit. Be sure to check on refund policies before giving any money, and read the contract carefully before signing.
  6. Collect any information you are interested in – take it home to look over again when you have some quiet time.
  7. If you cannot attend, send someone in your place to register you for prizes and collect information on services you need.
  8. It is nice if your fiancé attends with you and he will enjoy the “Groom’s Room”.  Each year many guys attend, so he won”t be the only one there!
  9. Wear comfortable shoes and have a great time!

Relax and have fun – this is your wedding.

Hope to see you there!

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2010 December: Calgary Real Estate Board’s Monthly Stats

Tuesday, January 4th, 2011

Gord Piper and Associates welcome”s you to 2011 and what a great year it is going to be.  

 For you information we are providing a snapshot of key information taken from the Calgary Real Estate Boards Monthly Stats package which came out last night.  To get a good understanding of the market we think there are three numbers that are critical – Inventory – Sales – Prices.  Yes, the old theory of supply and demand !  If there are any other numbers that you would like to see posted monthly just let us know.  Here are the results for december 2010 with a few comments.  If you would like a full copy of the board”s stats please contact us and we will be happy to give.

Attached please find a copy of the stats package from the Calgary Real Estate Board for the month of December 2010.  Below you will find a summary of some key areas with a few short comments.

Calgary Listing Inventory:  As noted below we had a substantial decrease in our inventory this month. In December not many homes get listed around Christmas time coupled with many listing expiring.  I truly believe this is very short-term as many of the listings that have expired will go back on the market between now and spring so watch for this number to go up again

Inventory November   December Change
Single Family Home 3869 2712 <1157>
Condo’s 1882 1429 <453>
Total 5751 4141 <1610>

 Calgary Sales:  Sales for the month of December are very typical of the season where there is less real estate activity in December due to people being involved with so many other activities.   

Sales November December Change
Single Family Home 891 734 <157>
Condo’s 310 320 10
Total 1201 1054 <147>

 Calgary Real Estate Sales Prices :   For this summary,  I will focus only on the Median Sales Price as the average can be skewed by Realtors selling more of less million dollar homes and should be a better reflection of the market. Noted below single family homes took a slight decrease this month while condos showed a bit of a recovery.

Sales Prices November  Median Price December  Median Price Change
Single Family Homes $399,900 $389,000 <$10,900
Condo’s $253,300 $258,500 $5,200

 2011 Prediction

Gord’s  unofficial forecast:  As of late our phones have rung more than at any other time this year and the calls have been from buyers who have sat on the fence and are now ready to make a move.  I believe we are going to start to see increases in sales numbers for the first quarter seeing things settle down a little after that.  I forecast that our inventory will start to increase and we may see high levels once spring hits.   Therefore this certainly seems to be a good time to buy.  If you’re thinking of selling I think the opportunities are going to be the best in the first 3 months of the year before all the spring listings hit the market.

In other news we want to share that this year we will be having a booth at the Calgary Wedding Fair otherwise known as the Bridal show with some great draws.  If you find yourself at the wedding fair please stop by and say hi.

If you have any questions about this summary,  the attached stats package or any Real Estate questions  please feel free to contact us anytime.  

Gord Piper and Brent Wilcox

Century 21, The Professionals Ltd.

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