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Home Buyers Stress

Wednesday, January 13th, 2016

Minimize HomebuyersMany things can cause stress to homebuyers.
Purchasing property can be a large and overwhelming task. However, it doesn’t have to take over your life! With the right guidance and assistance, you will have the clarity you need to confidently move forward.

We want to help make the process as easy and enjoyable for you as possible.

Our philosophy is, to first educate you, the client, and then guide you through the process at your speed. Educated clients typically have a less stressful experience.

Issues are Unpredictable, but…
In real estate unexpected issues may come up, but experienced agents know how best to deal with those issues.

Let us help you achieve the ultimate goal of home ownership with the least amount of stress and worry! Let our professional staff help you!

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Inner City or Suburb?

Friday, January 8th, 2016

Inner CityThe battle over deciding whether to buy a home in Calgary or within one of the several smaller towns or suburbs outside of the city is a debate that plagues many prospective homebuyers. Here are some reasons one area may be more suited to your needs over the other.
There are a lot of weird biases against the suburbs – no you don’t have to wear “mom jeans” and lose all semblance of “coolness” – the SUBURBS are where it’s AT!
• Bang for your buck – generally you will get more square footage for less than it will cost in the city. Why buy a two bedroom cramped condo in the inner city when you can have a three bedroom home with a garden in the suburbs? Young families need affordable space – and the suburbs offer that!
• Less crime – statistically, the suburbs are safer. Chances are you will know everyone on your block, something that doesn’t often happen in the bustle of the city. Knowing that the neighbours will watch the house when you are away, or feed the cat – well that’s something money can’t buy!
• With a mix of big box shopping, boutiques, and everything else, you’ll be able to find everything you need, without the hassle of finding a parking spot, AND having to pay for it!
• Access to more outdoor activities – you’ll generally find more parks, community centres, and ice rinks, not to mention pools and golf courses.
The inner city offers many draws, especially if you are not looking at starting a family, or are more interested in being close to work.
• Typically less market volatility – losses are typically less dramatic but gains are usually higher due to the urban core being “built out.”
• Convenience – let’s face it, every possible amenity is available at your doorstep in major urban centers
• Established neighbourhoods and amenities – beautiful mature lined streets, heritage buildings, architecture, and specialty stores not to mention the incredible shopping, are established city trademarks.
• Transit – there is better access to all types of public transit as well as service route options.

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December Market Snapshot

Tuesday, January 5th, 2016

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 December our total inventory of listings in Calgary declined in all 3 categories.  This is very typical for this time of year as people are focused on the holiday season and wait until the New Year to list.

 Inventory  Nov  2015 Dec  2015 Change
Detached 2680 2138 -542
Attached 1287 1078 -209
Apartment 1349 1120 -229
Total City of Calgary 5316 4336 -980

 

Calgary Sales: Sales in all categories decreased in December.  Again this is typical for us to see a decrease in sales in December with the holidays.  We are down from 2014 (2014 was a huge year) and are down from the long term average.  What is interesting is the decline from November was approx. 30% in 2015 and the drop from November to December in 2014 was 39%.

Sales Nov  2015 Dec  2015 Change % Change
Detached 799 533 -266 -33.3%
Attached 269 194 -75 -27.9%
Apartment 195 151 -44 -22.6%
Total City of Calgary 1263 878 -385 -30.4%

 

Calgary Real Estate Sales Prices:   Prices for all categories decreased this month.  All the decreases were modest with the largest being in the detached home sector.  I think the reason this sector took the largest drop is that it has been relatively stable for the last year while we have seen decreases in the other sectors.  The overall price decrease for December was .42%

  Sales Prices Nov  2015     Benchmark Price  Dec  2015Benchmark Price Change
Detached 510,700 508,700 -2,000
Attached 352,400 351,400 -1,000
Apartment 287,000 285,500 -1,500
Total City of Calgary 450,700 448,800 -1,900

 

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 the oil prices, unemployment rate and all the uncertainty in Calgary.  If you compare how much the prices have changed with the Absorption rate below there is a direct correlation.

Sales Prices Dec 31, 2014   Benchmark Price  Dec  2015Benchmark Price Change$ % Change
Detached 510,900 508,700 -2,200 -.4%
Attached 357,000 351,400 -5,600 -1.6%
Apartment 300,300 285,500 -14,800 -4.9%
Total City of Calgary 459,000 448,800 -10,200 -2.2%

 

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. December saw detached homes move from a balanced market just into a buyers’ market putting all housing sectors into buyers’ a market position. Based on this I would have to predict further price easing in the upcoming months especially in the attached home and apartment condo sectors.

Absorption Rate   Nov  2015 Dec  2015 Change
Detached 3.35 4.01 +.66
Attached 4.79 5.56 +.77
Apartment 6.91 7.42 +.51
Total City of Calgary 4.21 4..94 +.73

 

Price Sensitivity It is also important to note that homes in the lower price ranges are still moving much quicker than homes in the higher price ranges. **Please note that these numbers 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 Real Estate questions please feel free to contact us.

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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?

Posted in Articles, Blog, Home Improvement | Comments Closed

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

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Keep Your Home Safe – Without Breaking the Bank

Friday, November 13th, 2015

Keeping your home SafeYou want to keep your home safe from thieves, but you don’t want to spend a fortune doing so because, frankly, you don’t have a fortune worth stealing. Technology has significantly brought down the cost of home security systems and home surveillance cameras, many of which you can install yourself. But there are also many low-tech solutions that cost little or nothing that will keep your home safer from intruders.
Use your deadbolt lock. The basic lock on your doorknob isn’t really very good, Holloway says. Many knob locks can be defeated by simply grabbing the knob with, at most, a pipe wrench or with, at the least, two hands and twisting hard. The internal locking mechanism shears and the door can be opened, and this can all happen in a matter of seconds. This is an old burglar trick. Deadbolts are harder to defeat, and a cheap deadbolt is as good as an expensive one. The lock isn’t going to break, but it’s the doorjamb and the wood around the door that’s going to break.
Secure sliding glass doors. Many older doors are easy to open from the outside. Use a broom handle lying on its side on the track to prevent the door from being opened and deter intruders.
Make sure your home is well-lighted outside. Motion detector lights are inexpensive and an easy way to illuminate anyone who approaches the house. The reason for that is because the front door is commonly the most visible part of the house, and if there’s anything would-be burglars don’t want, it’s to be visible.
Make it look as if you’re home. Lights, radio and TVs on timers create the illusion that someone is home when you’re gone on vacation. Get a neighbor to pick up mail and newspapers when you’re away.

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October Market Snapshot

Tuesday, November 3rd, 2015

Despite all the doom and gloom in the media the Calgary Real Estate Market has not crashed and in certain sectors is actually fairing quite well considering the circumstances.

Stay ahead of the curve 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 the effect on 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 October our inventory declined for detached homes and increased in the attached homes and apartments sectors.

 Inventory  Sept  2015 Oct  2015 Change
Detached 3012 2922 -90
Attached 1232 1290 +58
Apartment 1282 1366 +84
Total City of Calgary 5526 5578 +52

Calgary Sales:

Sales for attached homes increased slightly this month while detached homes and apartment sales decreased.   The largest decrease is in the apartment sector.  Looking at the total sales we are down by only 27 sales from last month.  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.

Sales Sept  2015 Oct  2015 Change % Change
Detached 906 872 -34 -3.75%
Attached 283 312 +29 +3.2%
Apartment 259 237 -22 -8.5%
Total City of Calgary 1448 1421 -27 -1.9

Calgary Real Estate Sales Prices:  

Prices for all categories decreased this month.  The overall price decrease from September was  .66%. Looking at today’s absorption rate I predict that detached and attached homes will continue with small decreases while the apartment sector will show 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 the consumer confidence level out there.

  Sales Prices Sept  2015

Benchmark Price 

Oct  2015

Benchmark Price

 Change
Detached 517,200 513,800 -3,400
Attached 357,000 354,100 -2,900
Apartment 290,600 288,300 -2,300
Total City of Calgary 456,100 453,100 -3,000

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  Oct  2015

Benchmark Price

 Change

$

% Change
Detached 510,900 513,800 +2,900 +.57%
Attached 357,000 354,100 -3,000 -.84%
Apartment 300,300 288,300 -12,000 -4.0%
Total City of Calgary 459,000 453,100 -5,900 -1.28%

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 October all categories increased with apartment condos taking the biggest jump. This will have an impact on prices in the coming months.

Absorption Rate   Sept  2015 Oct  2015 Change
Detached 3.32 3.35 +.03
Attached 4.35 4.13 -.22
Apartment 4.95 5.76 +.81
Total City of Calgary 3.82 3.93 +.11

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Calgary’s Housing Market Outlook Fall 2015

Wednesday, October 28th, 2015

CMHC has released this fall’s housing market outlook and there’s some great information in there! Some highlights include:

  • Single detached housing starts are forcast to remain below historical averages through to 2017
  • Multi-family starts are set to decline from the record high in 2014
  • MLS residential sales will decline in 2015 before gradually increasing in 2016 and 2017
  • Emplyment growth to slow down in 2015 and 2016 but improve in 2017

For an indepth look at what CMHC is projecting for the coming year take a look at the whole report here.

Posted in Articles, Blog, CMHC, Education | Comments Closed

September Market Snapshot

Monday, October 5th, 2015

September Results are in and it looks like things are changing in the Real Estate front in Calgary.

Stay ahead of the curve 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 the effect on 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 September we saw an increase in inventory levels for all categories. New listings were up and sales we down causing this increase.

 Inventory  Aug   2015 Sept  2015 Change
Detached 2801 3012 +211
Attached 1130 1232 +102
Apartment 1215 1282 +67
Total City of Calgary 5146 5526 +380

 

Calgary Sales:

Sales for all categories decreased this month.  While the percentages look high it is important to note that some of this is strictly seasonal as September is always lower in sales than August.   In my opinion seasonal adjustments are a small part of this and  it is a bigger reflection of a weakened economy and uncertainty.

Sales Aug   2015 Sept  2015 Change % Change
Detached 1000 906 -94 -9.4%
Attached 364 283 –81 -22.3%
Apartment 279 259 -20 -7.1%
Total City of Calgary 1643 1448 -195 -11.8%

 

Calgary Real Estate Sales Prices:  

Prices for Attached and Detached homes increased slightly this month while the Apartment Condo sector prices decreased.  Looking at today’s absorption rate I predict that Detached homes will continue with small increases or stay flat while attached homes and Apartment Condos will continue to see price declines in the next while.

  Sales Prices Aug   2015Benchmark Price  Sept  2015Benchmark Price Change
Detached 516,000 517,200 +1,200
Attached 356,700 357,000 +300
Apartment 294,100 290,600 -3,500
Total City of Calgary 456,300 456,100 -200

 

Sales Prices “Year to Date”   

Year to date prices –  Again increases in detached and attached while Apartment condos have decreased.

Sales Prices Dec 31, 2014   Benchmark Price  Sept  2015Benchmark Price Change$ % Change
Detached 510,900 517,200 +6,300 +1.2%
Attached 337,300 357,000 +19,700 +5.8%
Apartment 300,300 290,600 -9,700 -3.23%
Total City of Calgary 459,000 456,100 -2,600 -.63%

 

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 September all categories increased with attached homes increasing the most.  As mentioned earlier this will reflect in prices in the upcoming months.

Absorption Rate   Aug   2015 Sept  2015 Change
Detached 2.80 3.32 +.52
Attached 3.1 4.35 +1.25
Apartment 4.35 4.95 +.6
Total City of Calgary 3.13 3.82 +.69

 

Price Sensitivity

It is also very interesting that starter homes are the ones that are still selling in the first day in a lot of circumstances.  The 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, the attached stats package or any 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

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Building a Wish List for Home Buyers

Tuesday, September 29th, 2015

Building a WishlistThere’s a difference between what you need and what you want. We all need a place to eat, sleep and call home, but when the time comes to buy that place, there’s a lot to consider. In a dream world we could envision our perfect home and magically make it happen. But this is reality, and in reality we all have budgets and other parameters we must work within, which is why I encourage all of my clients to start with a wish-list. It helps you determine exactly what you need, want, and must-have. It lays down a blueprint for your house hunt and it keeps you in check.

Here are some suggestions to help get you started building your wish-list:

• Make a list of all the things you love and don’t want to give up in the place you’re currently – a kitchen island, a soaker tub, a fireplace – whatever gives you pleasure and makes your house feel like home.
• A wish-list can also be referred to as a “change-list” – meaning, these are all the things about my current living space that must change. So take note of all the things in your current space that you are not happy with and highlight anything that frustrates you to no end.
• Consider how long you’re going to be in this home and what you envision happening in your life during that period. If you’re finally going to get that pet dog you’ve always wanted, then you’ll have to consider that when choosing the property.
• Identify which items you must have now, and which items can be added over time. Maybe you really want a deck in your backyard and you’ve just seen a great house that has everything but. A deck is something you can add on down the road.
• Consider your wish-list a constantly changing thing. Trust me – once you start looking at properties, you’ll be adding and dropping things from your list. That’s the best part about house hunting – every place you see gives you a better sense of what you’re really looking for.

Posted in Articles, Blog, Education, Home Buyers | Comments Closed

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