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Prohibition on the Purchase of Residential Property by Non-Canadians Act

Saturday, January 7th, 2023

On January 1, 2023 the Canadian government’s Prohibition on the Purchase of Residential Property by Non-Canadians went into effect and will last 2 years.

Ultimately the government is trying to make housing more affordable for Canadians.  Following are some key points I am seeing in the act.

The act applies to all non Canadians  corporations controlled by a Non Canadian.

Residential Property is defined as a detached home, attached home, Condominium, Row Home (Townhouse style).

Exception: The act includes many exceptions and also carries penalties for anyone caught either not following the act or assisting someone with their purchase who is not allowed to buy.

If there is any remote chance that this act may affect you, my advice would be to talk to a lawyer before you do anything else.

Here is a link to the Federal Governments Website 

 

 

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Reasons for a move to Calgary, Alberta

Friday, December 31st, 2021

Peace Bridge - Downtown

 

 Calgary general info

  • The current metro area of Calgary population of Calgary in 2021 is 1,581,000 a 2.2% increase from 2020
  • In 1988 Calgary Hosted the Olympics
  • Home of the world-famous Calgary Stampede
  • Calgary is a very cultural diverse City,  approximately one in 3 people living in Calgary were born outside of Canada

 

Top Reasons why people choose to move to Calgary

1. Calgary is only a one-hour drive to the Rocky Mountains

Banff National Park

The Rocky Mountains provide days of adventure including Skiing, Snowshoeing, mountain climbing, hiking, golfing, or simply a nice stroll down Banff Avenue.

2. Pathways and Trails

Calgary communities, parks, and natural areas are connected by an extensive network of multi-use pathways.  The City maintains the most extensive urban pathway and bike network in North America with approximately 1000 km of regional pathways and 96 Km of trails.

3. Global Livability Ranking 

The Global Livability Ranking is a yearly assessment published by the Economist Intelligence Unit,  ranking 140 global cities for their urban quality of life based on assessments of stability,  healthcare, culture and environment, education, and infrastructure.  In 2019 Calgary ranked 5th with a livability score of 97.5

4. Canada’s Sunniest city

Calgary is the sunniest of Canada’s large cities, enjoying an average of 2396 hours of bright sun each year, spread over 333 days. That amounts to just over half of Calgary’s daylight hours.

5.  Key points from Calgary Economic & Development 

  • Calgary has more than 100 corporate head offices, the most per capita of any Canadian city, and is home to more than 700 startups, many in tech.
  • At 8% Alberta has the lowest income tax rate in Canada

6.  Among the Lowest Taxes in Canada

Alberta has some of the lowest taxes in North America — with no provincial sales tax, no payroll tax, no health care premiums, and some of the lowest corporate income taxes in Canada.

7. Affordable Housing 

While Calgary is not the least expensive city to purchase a home in, Calgary is substantially cheaper than Toronto or Vancouver.  Calgary’s Median price currently sits at $530,000 for a detached single-family home.

 

Attractions

Whether visiting or living in Calgary here are some attractions you may want to put on your list to see

  • Calgary Exhibition and Stampede:  A 10-day event that starts the first Friday of July
  • Heritage Park 
  • Olympic Plazza
  • Saddledome with the Calgary Flames (NHL) 
  • 17th Avenue Retail & Entertainment district 
  • Eau Claire Market 
  • Princes Island Park 
  • Calgary Zoo 
  • Telus Convention Centre 
  • Calgary Tower  (once Calgary’s tallest structure) 
  • Telus Spark 
  • Calgary’s new Central Library 
  • Canada Olympic Park 

 

If you are considering making a move to Calgary TSW Real Estate Group can be a resource you can count on.  Being a native Calgarian I have a vast knowledge of Calgary Communities and the housing market.   There are many other valuable things we can provide to help you make a decision if Calgary is right for you.  Contact us here

 

 

 

 

 

 

 

 

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Should I Buy or Sell my home first?

Wednesday, December 30th, 2020

Should I Buy or Sell my home first?

One of the most frequent questions I get as a Realtor is “Should I buy first or should I sell first?   Unfortunately there is no correct answer as it will really depend on your circumstances.  As I cannot simply answer the question for you here I will highlight 3 critical things you may want to consider to help you make your decision.

First is your finances, can you qualify for a  mortgage on a second home? Even if you can qualify for a second mortgage is this something you want to carry?  A catch 22 here is if you want to use the equity out of your current home to buy the new home then financing becomes a challenge as banks will want to sign you up for a full term mortgage. There are other option and this is where you need to speak to a mortgage professional.  Often once clients look at their finances the choice to sell first becomes very clear.

Your second consideration is what is happening in the market?

  •  In a Sellers market you may lean towards buying first as you may have a challenge securing the perfect property with the limited inventory on the market and if priced correctly your home should sell in a very reasonable amount of time.
  • On the other hand if its a strong buyers market then you might lean toward selling first.  In a buyers market homes are harder to sell while buying you have plenty of choice.
  • In a balanced market many will lean towards selling first as this gives you more control of the timing.

Your third consideration is,  how much stress are willing to handle?   In my years of experience there is typically a lot less stress on clients when the sell first and then buy.  You may ask what sort of things might cause stress. Here are just a few:

Having 2 mortgage payments

  • Having to  move twice
  • Your home does not sell as quickly as you thought
  • The market can change in the middle of a transaction

When I have clients asking this question, I first ask them to consider their finances, the market and how much stress they want to manage. If this does not make them 100% clear on their choice here is what we do next.

Knowing the state of the market I will be able to give them a clear picture of what the market is like and how challenging the sale might be.  The other variable is how challenging will it be to find their new home. I will then spend some time probing on the buying side.  Once I get clarity on the specific must haves and like to have in their new home then I can complete a search to determine if there is 1 home that meets their criteria of if there is 100 homes that meet their criteria.  If there are many homes available then I might suggest selling first and if they are looking for something very unique that may be hard to find then for them buying first may be the best strategy.

As there is no answer that is correct for everyone it is important to know whatever choice you make we have several proven strategies to ensure your transaction goes smoothly and stress free.  If you would like a free no obligation consultations simply contact us.

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Affordable Ways to Boost your Home’s Curb Appeal

Wednesday, April 15th, 2020

When buyers come to see your home, the first thing they notice is how your property looks from the curb. That first impression is powerful and lingering. If buyers don’t like what they see, it can influence how they judge the rest of your property, regardless of how great it looks on the inside. You definitely want to do whatever you can to boost curb appeal. Here are six affordable ideas to consider:

1. Driveway sealing. This makes the pavement look darker and less faded. It also helps cover up some of the cracks. Sealing won’t give you the “brand new” look of repaving, but it’s close — and significantly less expensive.

2. Exterior window washing. Washing the front windows makes them look clean and bright. In fact, the effect can be stunning. There are window washing products that connect to your hose to make this job easier. Check your home improvement retailer.

3. Maintaining shrubs, hedges and flower beds. Trimming the hedges, shrubs and other evergreens can make a big difference in how your property looks from the street. It’s like giving them all a haircut! Flowering plants can also brighten up the look.

4. Front door painting. From the curb, a buyer’s eye is naturally drawn to your front door. If your entry system looks old and worn, consider a fresh coat of paint. It can make the entrance look almost new.

5. Garage door painting. This is a bigger project that can take a day or two, but the effort might be worth it. For many homes, the garage door is the biggest item in the curb appeal panorama. Making it look better will have a big impact.

6. Removing unsightly items. Look at your home from the street. Are there items in your field of vision that take away from the curb appeal? For example, are there garbage cans and other items stowed along the side of the property and visible from the road? If so, move them.  You don’t want buyers to  drive by (and they still do) and eliminate your home simply because they don’t like what they see from the outside. Use these tips to boost your home’s curb appeal.

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What to Fix Up in your Home before You Sell?

Sunday, April 5th, 2020

If you have a home that is overdue for a renovation, you might be worried that it will be difficult to sell as a “fixer-upper”. In fact, you might delay listing your property for that reason. The good news is, you don’t need to fix up everything in your home to prepare it for sale. You can be selective and choose only those projects that are most likely to help your home show well and sell quickly. Here are some projects to consider:

• Repairs. Few things stand out more during a viewing than something in obvious need of repair. That includes minor issues, like a dripping bathroom faucet, as well as major concerns, such as the central air conditioning unit not working. Get these repairs done.

• Painting. Painting is one of the easiest and most affordable DIY projects you can do. Yet the impact it can have on your home is stunning. Some rooms are completely transformed by a fresh coat of paint.

• Kitchens & Bathrooms. Buyers love to see great looking kitchens and bathrooms. In fact, there are even magazines devoted just to those rooms! You don’t necessarily need to do a major renovation of these spaces, but a makeover can be a good idea. Consider replacing sinks, countertops, and/or cabinet hardware.

• Floors. If the floors in any of your rooms have become worn and unsightly, look at options for refreshing them. Consider replacing carpeting, refinishing hardwood, and/or getting tiles professionally cleaned and polished.

• Outdoors. Sometimes you can compensate (a little) for a less-than-ideal interior by sprucing up the outdoor space. Explore ways to improve your deck or patio, walkways, and landscaping. Even if your home is older, you can make it more attractive to buyers with any one of these projects. Want more ideas for finding eager buyers for your home? We offer a free – no obligation home walk through where we will make suggestion on minor improvements you can do to sell your home for the most money in the least amount of time.  Free walk through 

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Calgary Real Estate Market Forecast

Friday, February 1st, 2019

What is happening in the Calgary Real Estate Market?

Every year the Calgary Real Estate Boards Economist prepares a detailed report forecasting what she believes will happen in the Calgary and area Real Estate market.  What I find best about the report is it shows the why and really puts things in perspective.

For your copy click here,  and I will email you a copy of the 2019 report.

 

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Calgary Real Estate Market Snapshot – Aug 1, 2018

Thursday, August 2nd, 2018

What is really happening in the Calgary Real Estate Market?

What is really happening in the Calgary 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 with how the market is trending and to stay ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors. I have also included some general comments which are simply my opinion.

Months of Inventory/Absorption Rate – 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 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

 

Watch the Trend

On the above graph it is important to see the trends – As you can see the apartment condo absorption rate is has been trending down however in July it reversed and when back up.

 Current Months of Inventory:  If we did not list any more homes this is how many months it would take to deplete inventory.

In July the months of inventory increased in every Category.  If you have been following my monthly snapshot you will notice that most months when this changes it changes only a little where this month the numbers have increased substantially. This change puts us deep into a Buyer’s market in every category.

 

End of June 2018    July 2018    Change
Detached 3.98 4.72 0.74
Semi Detached 5.04 6.07 1.04
Attached – Row 5.73 6.78 1.05
Apartment 6.41 7.01 0.60
Total City 4.65 5.46 0.81

  

Calgary Listing Inventory

In July, our inventory decreased increased in all sectors and overall. This is totally normal at this time of year and we should expect this trend to continue for the rest of the year.

 

Inventory June 2018    July 2018    Change
 Detached 4817 4578 -239
Semi Detached 922 911 -11
Attached – Row 1209 1187 -22
Apartment 1872 1774 -98
Total Calgary 8820 8450 -370

Calgary Sales:

Sales were down in all categories and again this is normal for July as this is moving out of our busy season when people are focused on vacations and outdoor activities.

Sales Compared to last year: Of interest if we compare to last year Sales in June we were 11.3% down from last year while July we were down only 4.8% from last year – a big improvement.

 

Calgary Sales  June 2018    July 2018    Change % Change
Detached 1210 969 -241 -19.92%
Semi Detached 183 150 -33 -18.03%
Attached – Row 211 175 -36 -17.06%
Apartment 292 253 -39 -13.36%
Total City 1896 1547 -349 -18.41%

  

Calgary Real Estate Sales Prices:

As we are now in a buyer market we should expect prices to decline slightly which is what happened except in the Apartment Condo sector where prices increased slightly.

 

  Sales Prices June 2018   Benchmark Price   July 2018   Benchmark Price Change
Detached 503,100 501,300 -1,800
Semi Detached 418,000 416,200 -1,800
Attached – Row 302,300 300,300 -2,000
Apartment 259,100 259,700 600
Total City 436,500 435,200 -1,300

  

Sales Prices “Year to Date”  

Same as monthly number

Sales Prices Jan 1, 2018    Benchmark Price  July 2018   Benchmark Price Change

$

% Change
Detached 499,600 501,300 1,700 0.34%
Semi Detached 416,600 416,200 -400 -0.10%
Attached – Row 299,500 300,300 800 0.27%
Apartment 257,700 259,700 2,000 0.78%
Total City 433,200 435,200 2,000 0.46%

  

**Please note that these numbers include only Calgary homes and do change on a community basis and more so for towns.  This report does not include rural properties.  If you would like to find stats on your community just let me know.  If you have any questions about this summary or about Real Estate in general, please feel free to contact us.

 

 

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Radon Gas Awareness

Tuesday, December 19th, 2017

What Is Radon Gas? 

Radon is an invisible, odourless, and tasteless radioactive gas  found naturally in soil and rock from the breakdown of uranium.   Radon gas may be inside your home and can be a health risk to you and your family.  Long term exposure can lead to lung cancer making it the leading cause of lung cancer among non-smokers.

Why is this important to me? 

In a recent study done by the University of Calgary researchers found that radioactive radon gas exceeds safe levels in one in eight Calgary Homes.   The study found that homes built in the past 25 years had a 31.5% higher average Radon Levels as they are built with tighter seals and have less ventilation than older homes.

How do I know if my home has high levels of Radon gas? 

The only way to know for sure is to have your home tested.  You can buy the test kits anywhere from home depot to The Lung Association.  The Kit from the Lung Association is only $34.99 +$11.95 shipping and includes the kit, instructions and Lab testing fees.  Order your kit here Lung Association

What if my home has high levels of Radon Gas? 

This is the easy part,  home venting to migate high levels of radon usually costs between $2000 to $2500.

If you would like to learn more about Radon Gas here is a great article from the Calgary Herald

 

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Painting Techniques that Bring a Hallway to Life

Friday, July 28th, 2017

Some people don’t give hallways much thought when painting and decorating.  Instead, they focus on rooms.  The fact is, a great looking hallway can have the same, if not more, impact than the most eye-catching family room or bedroom, especially when you need to go through the hallway to get there!  Here are some painting tips that can bring a dull hallway to life:

• Paint the hallway the reverse of the rooms around it. If the rooms are dark, use light colours in the hall. If the rooms feature simple colours, consider being more dramatic in your choice of hallway paint.

• In a longer hallway, using two shades of the same colour on perpendicular walls can make the space seem less tunnel-like. (The darker shade goes on the shorter walls.)

• Darker colours can work well if the space is well-lit and there are few, if any, shadows cast.

• If you decide to paint the halls white, select an off-white or eggshell white. Avoid stark white as it will reflect light in a way that’s unpleasant. One more tip: Pictures can go a long way in making a hallway look inviting, regardless of the wall colour. Good luck with the painting!

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Going “Green” in Your Garden or Flower Bed

Friday, July 21st, 2017

There has been a lot of emphasis lately on the importance of “going green”.  That simply means being environmentally-responsible.  You likely already recycle, use energy-efficient lights, and turn down your thermostat when no one is home. Yet, most of us don’t think about the garden or flower bed when we “think green”.  We should.  Here are a few practical things you can do to tend to outdoor plants — without negatively impacting the environment.

*Pull weeds instead of using a weed killer.

* Avoid strong pesticides. (Products that target only one or two types of insects tend to be less harsh.) There are numerous environmental options available in all stores.

• Don’t use flower bed ornaments (i.e. gnomes) that might bleed colour dye into the soil. (Ask your garden centre before you buy.)

• Be careful not to leave hand spades, trowels, and other garden tools lying around, especially over winter. They can rust, which contaminates the soil.

These tips may seem minor, but if you want to be environmentally conscious, every little bit helps!

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