Archive for December, 2015

Save Money In Your Apartment

Thursday, December 17th, 2015

Saving Money in Your HomeThere are a lot of things you do around your apartment that can contribute to bigger bills and unexpected expenses. The good news is that you can prevent a lot of these issues and potentially save hundreds of dollars in your monthly budget. Here are some of the biggest money mistakes around your home and how to avoid them.

1. Paying for cable and satellite coverage. With the rising costs of cable subscriptions and satellite coverage, many renters have been opting to get rid of them completely – and for good reason. There are many services, such as Netflix that air the same shows you love for less than $10 per month. So it might be time to downgrade your cable subscription to basic, or get rid of it altogether.
2. Buying brand-new items. With a renewed love for all things vintage happening lately and the increase in the popularity of up-cycling, there are a lot of excellent diamonds in the rough out there, especially when it comes to furniture. Buying pre-loved household items can save you a bundle, and this lets you purchase new items you’ll really need to buy new further down the line.
3. Over cooling or overheating your apartment. Many renters cringe when they see their gas and electric bills come through each month, and some of the main culprits are your air-conditioning and heating systems. It may be hot and humid outside, but your apartment doesn’t have to feel like the inside of your fridge when you walk in. Even turning down the thermostat a few degrees can make a huge difference. Additionally, you could turn off the air-conditioning completely at night and rely on fans to keep cool, as the temperatures tend to drop once the sun goes down. Creating a cross-breeze in your apartment on cooler summer days is also a good idea. Likewise, in the winter months, you can reduce your bills dramatically by adjusting the thermostat by just a few degrees and investing in well-made blankets to keep warm.
4. Paying too much for water because of leaks. This is a huge drain on your household expenses, literally. Every drip can mean extra digits in your water bill. If you notice a leaky faucet or showerhead or a running toilet, alert your landlord so that it’s repaired immediately. Water bills can rack up quickly with even the smallest leak – and one thing you really don’t want in your apartment is the mold and mildew.
5. Being less than green. Making eco-friendliness a priority isn’t just great for the environment; it’s also excellent for your monthly budget. For instance, only run your dishwasher or washing machine when you have a full load to save water. You can also take shorter showers, clean veggies by swishing them in a bowl of water (rather than running them under the faucet), and turn off the faucet when you’re washing your hands or brushing your teeth. This may not sound like much, but going green really can make a difference over time for your wallet and for Mother Earth!
6. Overpaying for lighting. While eco-friendliness and lighting go hand-in-hand, your fixtures in particular have a significant impact on your monthly bills. For starters, be sure you turn off lights whenever you leave a room. Not only is a continually running bulb unnecessary and costly, but it also isn’t so great for the environment. It might also be time to think about switching over to LEDs or more energy-efficient bulbs next time you’re shopping, as prices for this type of lighting has become much more affordable in recent years. While these fixtures might cost a bit more than regular bulbs upfront, they last a lot longer because they use significantly less energy. Who likes changing out bulbs anyway?

November Market Snapshot

Wednesday, December 2nd, 2015

Find out what is really happening in the Real Estate Market. Stay ahead of everyone else by following our Monthly Market Snapshot of the Calgary Real Estate Market. This shows what’s really happening! The market is driven by supply and demand so here we show the inventory (supply) and sales (demand) and most importantly the relationship between the two and how it affects the price of Calgary Real Estate.  A simple way to keep up to date and ahead of most!

Below are the details along with a few comments, all numbers were taken from the Calgary Real Estate Boards Stats package for Realtors.

Calgary Listing Inventory

In November our total inventory of listings in Calgary declined in all 3 categories.  It is very typical for inventory to decrease at this time of year as people start to focus on the holiday season.

 Inventory  Oct  2015 Nov  2015 Change
Detached 2922 2680 -262
Attached 1290 1287 -3
Apartment 1366 1349 -17
Total City of Calgary 5578 5316 -262

Calgary Sales:

Sales in all categories decreased in November.   Again it is typical for us to see a decrease in sales in November with the Holidays quickly approaching.   We are down substantially from 2014 (2014 was a huge year) and are down from the long term average.  In my opinion seasonal adjustments are a small part of this and it is a bigger reflection of a weakened economy and uncertainty in Alberta.

Sales Oct  2015 Nov  2015 Change % Change
Detached 872 799 -73 -8.4%
Attached 312 269 -43 -13.8%
Apartment 237 195 -42 -17.7%
Total City of Calgary 1421 1263 -158 -11.1%

Calgary Real Estate Sales Prices:  

Prices for all categories decreased this month.  The largest decrease is in the detached home sector.    The overall price decease for November is .53% . Looking at the Absorption rate I predict that that detached home sector will continue to see small decreases while the attached home sector and apartment condo sector will continue to see higher decreases.

Why you might ask am I predicting a decrease for detached homes while we are still in a balanced market – my answer is simply that the consumer confidence level out there is low.

  Sales Prices Oct  2015

Benchmark Price 

Nov  2015

Benchmark Price

Change
Detached 513,800 510,700 -3,100
Attached 354,100 352,400 -1,700
Apartment 288,300 287,000 -1,300
Total City of Calgary 453,100 450,700 -2,400

Sales Prices “Year to Date”   

Year to date prices – The numbers here speak for themselves. As you can see the largest decrease is in the apartment sector. Overall I am surprised at how well Real Estate has held up so far with all the uncertainty.

Sales Prices Dec 31, 2014   Benchmark Price  Nov 2015

Benchmark Price

Change

$

% Change
Detached 510,900 510,700 -200 -.04%
Attached 357,000 352,400 4,600 -1.3%
Apartment 300,300 287,000 -13,300 -4.42%
Total City of Calgary 459,000 450,700 -8,300 -1.8%

Absorption Rate (Months of Inventory)   (the inventory divided by the number of sales in the last month). What does this mean you might ask?

Buyer’s Market >4.0 Drives prices down
Balanced Market Between 2.8 to 4.0 Prices typically remain stable
Seller’s Market <2.8 Drives prices up

*** Absorption Rate***   

In my opinion this is the most critical number to look at.  Somehow detached homes in Calgary are holding steady in a balanced market position.  Both attached homes and apartment condos are in a buyers’ market.  The largest increase is absorption rate is in the apartment condo sector at an increase of 1.15% which is substantial and will reflect in prices in the upcoming months.

Absorption Rate   Oct  2015 Nov  2015 Change
Detached 3.35 3.35 0
Attached 4.13 4.79 +.66
Apartment 5.76 6.91 +1.15
Total City of Calgary 3.93 4.21 +.28

Price Sensitivity

It is also important to note that homes in the lower price ranges are still moving while higher priced homes are the ones seeing the least amount of activity.

**Please note that these numbers do change on a community basis and more so for towns.  If you would like to find stats on your community just let me know.  If you have any questions about this summary or Real Estate questions please feel free to contact us.

If you know anyone else who might enjoy seeing our monthly summary please feel free to pass this on. Gord, Eric, Brent, Melissa

TSW Real Estate Group