11 Myths About the Real Estate Industry

September 30th, 2016
  1. A referral is the best way to choose a REALTOR®

           Simply trusting that a REALTOR® has your best interests at heart can lead to disappointment. Your needs are unique. Qualify all REALTOR®s to ensure they are competent and motivated              to properly represent you.

  1. Pay off your mortgage quickly

           If you reduce your payment, or simply pay interest-only (secure line of credit financing) and invest the savings into a compounding interest account, your savings will be much higher than                the value of your original mortgage.

  1. You don’t qualify for a mortgage

          Regardless of your credit or income, anyone can purchase a house. Creative options such as joint ventures, vendor financing, second mortgages, and many more, provide endless                                    opportunities.

  1. When to buy real estate

           If the papers say that a city is booming, everyone wants to buy. Therefore, this is the perfect time to sell. When everybody is selling because of a recession, then you buy, while prices are rock            bottom.

  1. It’s all about price

          Negotiating mainly on the price of a property will limit your opportunity. If you can offer more favorable terms to the other party, then the price will become secondary.

  1. “#1 Agent”… Someone is lying

           Every agent seems to advertise that they are #1. You may not be getting the whole story (ex. 5 agents working under one name). Be careful of what you believe, as the criteria of measurement            may lack relevance, or be severely outdated.

  1. More experience the better

          If a REALTOR® has not kept up to date with the changing technology, regulations, market conditions, or modern service style, then all of their past experience won’t help you be properly                 represented.

  1. Super agents

         If an agent works alone, be careful. It is impossible for someone to be accessible at all times. Your business may be handled by a REALTOR® you have never met until your REALTOR® is                available.

  1. Every agent in a brokerage is the same

          REALTOR®s choose their own methods of customer service and business practices within their brokerage. Only very basic standards are in place, therefore, don’t assume one agent is the                 same as the next.

  1. Calling off signs is the best way to find a property

          A REALTOR® selling a property cannot represent their seller’s best interests and yours at the same time. This is a conflict of interest. Save yourself, potentially thousands of dollars, and find           your own REALTOR®.

  1. Banks are the best financing source

         Banks have different mortgage options, but can only ever provide you with their interest rates and handful of options to choose from. A mortgage broker works with most major banks, has                way more options and tons of different lenders’ interest rates to choose from. Plus, they can work to fit your schedule.

 

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301, 2311 29 Street SW Calgary T3E 2K1

September 17th, 2016

Bright top floor unit is a well maintained 2 bedroom, 2 bath unit in Killarney Meadows, a concrete building.  Enjoy the inner city lifestyle with this awesome location in the heart of Killarney.   This unit boasts 960 square feet of living area.  Living room steps out to your 16 foot balcony.  Master Bedroom is spacious and offers a walk through closet and a 4 piece ensuite bath.  Complete the unit with a second Bedroom, 3 piece bath and a storage room with in suite laundry.  Includes titled heated underground parking.  Located walking distance to LRT, Restaurants, Shopping and Killarney Aquatic and Recreation center.  Easy commute to downtown.

MLS Listing # C4082489

For more information contact us

 

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Sept 1, 2016 Calgary Real Estate Market Snapshot

September 2nd, 2016

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 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.

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 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

*** Absorption Rate***  

In my opinion this is the most critical number to look at.  All categories except for apartment condos increased slightly this month.  Apartment condos took a small decrease and this is most likely balancing out from last month when it increased substantially.  In summary Detached and Attached homes are doing well while row houses and apartment condos are showing an oversupply of inventory compared to sales.

  July 2016 August  2016 Change
Detached 2.47 2.78 0.30
Semi Detached 2.88 3.60 0.72
Attached – Row 4.43 4.77 0.34
Apartment 6.11 5.88 -0.23
Total City 3.27 3.61 0.34

 

Calgary Listing Inventory

August inventory levels stayed almost the same as July Levels

Inventory July 2016 August  2016 Change
Detached 2746 2720 -26
Semi Detached 521 497 -24
Attached – Row 886 868 -18
Apartment 1558 1571 13
Total City 5711 5656 -55

 

Calgary Sales:

Sales in all categories decreased this month which in my opinion is very normal for this time of year with summer holidays and many peoples focusing on getting kids ready to go back to school.

Important note:  Sales from July to August 2015 decreased by 193 or 11.7%  compared to 10.2% this year.

Calgary Sales   July 2016 August  2016 Change % Change
Detached 1110 980 -130 -11.71%
Semi Detached 181 138 -43 -23.76%
Attached – Row 200 182 -18 -9.00%
Apartment 255 267 12 4.71%
Total City 1745 1567 -178 -10.20%

 

Calgary Real Estate Sales Prices: 

Pricing changes in August were not drastic.  Detached and Semi Detached increased while Attached-Row and Apartment categories decreased with the largest decrease in the Apartment category which is the sector with the highest absorption rate.   I would expect further price declines in the Apartment condo sector.

  Sales Prices July 2016 Benchmark Price    August  2016

Benchmark Price

 Change
Detached 502,300 503,200 900
Semi Detached 385,200 387,100 1,900
Attached – Row 310,300 310,000 -300
Apartment 277,000 274,900 -2,100
Total City 440,000 440,200 200

  

Sales Prices “Year to Date”   

Year to date prices

Sales Prices Dec 31, 2015   Benchmark Price  August 2016 Benchmark Price Change

$

% Change
Detached 514100 503,200 -10,900 -2.12%
Semi Detached 393100 387,100 -6,000 -1.53%
Attached – Row 318500 310,000 -8,500 -2.67%
Apartment 288,000 274,900 -13,100 -4.55%
Total City 452800 440,200 -12,600 -2.78%

Point of Interest

Just my personal opinion but it is important to note that buyers are still acting as if it is a buyer’s market. What I mean here is they are shopping carefully looking for value and taking their time to make decisions.

 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, would like to receive it monthly or Real Estate questions please feel free to contact us.

 

 

 

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486 Chaparral Ravine View SW Calgary T2X 0A5

August 27th, 2016

Beautiful 2546 sq. family home in the Ravine area of Chaparral with Lake Privileges.  Features an open floor plan and 9 ft. ceilings on the main and bmst levels.  Kitchen boasts granite counter tops and stainless steel appliances, a large island and extended eating bar.  Dining nook allows access to you back yard.  Large mud room with plenty of closet/storage space, enjoy the convenience of a huge Walk through Pantry.  Complete the main floor with living room with gas fireplace, a great room, and a 2 piece bath.  Upstairs you will find 3 bedrooms, bath, an office area and a large bonus room.  Master retreat features a raised section for your bed or favorite reading chairs.  Spa like ensuite features dual sinks, soaker tub and separate shower, complete the master with a walk in closet.  Basement has been left untouched and is awaiting your creative design.  Yard features underground sprinkler system, a gorgeous deck and trellis, kids dream playhouse and a dog run.

Price: $575,000

MLS C4078736

For more information contact us

 

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2320, 303 Arbour Crest Drive NW Calgary Ab. T3G 5G4

August 25th, 2016

Downsize in style in the popular 18+ Chateau Arbour Lake.  This bright and beautiful open concept 1519 Square foot condo offers 2 bedrooms + Den with 2 baths and plenty of living and storage space.  This is the largest floorplan in the complex and features 9 foot ceilings, in floor heat and new carpet throughout.  Features kitchen with spacious island, breakfast bar & pantry.  Living room walks out to double size Balcony (31 feet long) overlooking the Gazebo and fountain.  Master bedroom features walk through closet and 4 piece ensuite.  2nd bedroom is spacious and offers a second door to your balcony.   Main bath is 3 piece with walk in shower.  Storage room offers in suite laundry.  Underground Titled Parking and separate Storage locker.  Complex features Fitness room, Steam room, games room, open courtyard with gazebo and fountain, visitor parking and car wash.  Located close to transit and all the shopping you need at Crowfoot.  RMS 1519.9 Sq Ft.

MLS C4078617

View full details of this new listing here

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August 1, 2016 Calgary Real Estate Market Snapshot

August 2nd, 2016

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 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.

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 2.4 to 4.0 Prices typically remain stable
Seller’s Market <2.4 Drives prices up

 

*** Absorption Rate***  

In my opinion this is the most critical number to look at.   All categories increased slightly this month except Apartment condos which increased by 1.16.   This is a reverse trend from last month where all categories decreased.   As you can see the apartment condo market is still favouring Buyers the most.

  June 2016 July 2016 Change
Detached 2.28 2.46 0.18
Semi Detached 2.88 2.88 0.01
Attached – Row 3.90 4.45 0.55
Apartment 4.96 6.12 1.16
Total City 2.95 3.27 0.32

 

Calgary Listing Inventory

July saw a decrease in inventory in all categories except Apartment Condos which increased very slightly.   This decrease is due to less new listings coming to market.

 

Inventory June 2016 July 2016 Change
Detached 2923 2727 -196
Semi Detached 532 522 -10
Attached – Row 975 882 -93
Apartment 1543 1554 11
Total City 5973 5685 -288

 

Calgary Sales:

Sales in all categories decreased this month which in my opinion is very normal for this time of year with summer holidays many peoples focus.

Calgary Sales   June 2016 July 2016 Change % Change
Detached 1282 1108 -174 -13.57%
Semi Detached 185 181 -4 -2.16%
Attached – Row 250 198 -52 -20.80%
Apartment 311 254 -57 -18.33%
Total City 2028 1741 -287 -14.15%

 

Calgary Real Estate Sales Prices: 

Pricing changes in July were minimal with all categories decreasing slightly.  Again apartment condos decreased a little more and this make sense to me with the higher absorption rate.  I would expect further price declines in the Apartment condo sector.

  Sales Prices June  2016

Benchmark Price 

  July 2016

Benchmark Price

 Change
Detached 502,400 502,300 -100
Semi Detached 385,600 385,200 -400
Attached – Row 310,800 310,300 -500
Apartment 278,200 277,000 -1,200
Total City 440,400 440,000 -400

 

 Sales Prices “Year to Date”   

Year to date prices

Sales Prices Dec 31, 2015   Benchmark Price  July  2016

Benchmark Price

 Change

$

% Change
Detached 514100 502,300 -11,800 -2.30%
Semi Detached 393100 385,200 -7,900 -2.01%
Attached – Row 318500 310,300 -8,200 -2.57%
Apartment 288,000 277,000 -11,000 -3.82%
Total City 452800 440,000 -12,800 -2.83%

 

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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93 20 Street NW Calgary Ab T2N 4Y9

July 29th, 2016

Bright and beautiful open concept living in a fantastic location in the desired community of West Hillhurst.  Live the inner city lifestyle, walk to river and pathway system, bike to downtown, transit a few steps away, Kensington nearby and boasts City skyline views from 2 levels.  Features of this home include Birch hardwood flooring, 9 foot ceilings, crown moldings, In-floor heat (lower), Central Air and Hunter Douglas blinds throughout.   Beautiful kitchen with Stainless Steel appliances, Island with eating bar, maple cabinetry, and a large walk in pantry.  Spacious eating area for entertaining. Living room is bright and features a free standing gas stove, small balcony and views of downtown.  The upper level offers a large Master that features full ensuite, walk in closet, vaulted ceilings and a fantastic view of downtown.  Complete the upper level with a spacious second bedroom and full bath.  Ground level features, laundry, a flex room (for office, exercise and or TV room) with French doors to your private fenced yard.  Don’t forget the attached garage. MLS C4075090

View Full Listing here

View our Video Tour

Contact us:

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Surprising Ways Buyers Find Homes

July 12th, 2016

Do you ever wonder how most people find the homes they eventually buy? You might imagine them driving by a “For Sale” sign or seeing a home for sale in the newspaper and then calling to enquire. Of course, many buyers find out about listed properties that way. But, according to research by the National Association of Realtors, there are many other — sometimes surprising — ways buyers find their next dream home.

For example:

• 88% of buyers find a home with the help of a real estate agent.

• 90% of buyers search online as part of the home buying process. (Such as viewing a property’s profile on the agent’s website.)

• 69% of buyers searching for a home using Google, use a specific local term, such as “Calgary – Northwest- homes for sale”.

• 29-46% of buyers attend an Open House as part of their home hunting activities.

Overall, the research shows that buyers are using a multitude of ways — combining online and offline methods — to find homes. What does all this mean to you? If means that if you’re preparing your home for sale, you need to ensure your marketing plan takes into account all the ways buyers are finding properties — so you can be sure that they will find yours.

Looking for a REALTOR® who knows how to market your home for maximum exposure? Contact us today.

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Buyers vs. Sellers Market—What is the Difference?

July 6th, 2016

There are many factors which affect the real estate market–interest rates, employment, investment growth, legislative changes and new construction, to name a few. All of these factors influence the real estate market in some way.

In a buyer’s market, there are more homes for sale than there are buyers. This could be a result of high unemployment, fear of interest rate increases or other factors which make people think twice about purchasing a home for the first time or moving up into a larger home. The advantage buyers have in a buyers’ market is that they can typically take their time and look at all of their options before buying. Overall, home prices may go down in a buyer’s market.

In a seller’s market, there are fewer homes for sale to a larger pool of buyers. The factors at work could be sustained low interest rates, high employment rate, legislative changes which make it easier to purchase a property–events and conditions that make buyers think it would be a good time to buy a big ticket item like a home.

The advantage goes to the seller in a seller’s market–typically home prices will rise as buyers are quick to make an offer to secure the property.

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July1, 2016 Calgary Real Estate Market Snapshot

July 5th, 2016

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 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.

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.   All categories decreased this month meaning the market balance is continuing to shift.  As you can see the apartment condo market is still the slowest however shifted the most this month.

May 2016 June  2016 Change
Detached 2.48 2.28 -0.20
Semi Detached 2.88 2.88 -0.01
Attached – Row 4.04 3.90 -0.14
Apartment 5.85 4.96 -0.89
Total City 3.20 2.95 -0.25

 

Calgary Listing Inventory

June saw a slight decrease in inventory in all categories except Attached row homes (Townhouses) which increased by only 1 listing.

Inventory May 2016 June  2016 Change
Detached 3018 2923 -95
Semi Detached 548 532 -16
Attached – Row 974 975 1
Apartment 1608 1543 -65
Total City 6148 5973 -175

 

 

 

 

Calgary Sales:

Sales in all categories increased moderately again this month except for Semi-Detached homes which dropped by 5 sales and detached homes which increased by 65 or 5.34%.   This is very typical for a spring market and we will most likely start seeing a slight drop in sales numbers with summer holidays approaching.  It is important to note that Sales are still down from normal levels but the trend shows increases.

Calgary Sales   May 2016 June  2016 Change % Change
Detached 1217 1282 65 5.34%
Semi Detached 190 185 -5 -2.63%
Attached – Row 241 250 9 3.73%
Apartment 275 311 36 13.09%
Total City 1923 2028 105 5.46%

 

 

Calgary Real Estate Sales Prices: 

Pricing changes in June were minimal with Detached and Semi Detached increasing slightly and Attached- Row and Apartment decreasing slightly. This is very consistent with what the overall Absorption rate is telling us.  Expect further price declines in the Apartment condo sector.

  Sales Prices May  2016

Benchmark Price 

  June  2016

Benchmark Price

 Change
Detached 500500 502,400 1,900
Semi Detached 383100 385,600 2,500
Attached – Row 313200 310,800 -2,400
Apartment 278500 278,200 -300
Total City 439700 440,400 700

 

 

Sales Prices “Year to Date”   

Year to date prices

Sales Prices Dec 31, 2015   Benchmark Price  June  2016

Benchmark Price

 Change

$

% Change
Detached 514100 502,400 -11,700 -2.28%
Semi Detached 393100 385,600 -7,500 -1.91%
Attached – Row 318500 310,800 -7,700 -2.42%
Apartment 288,000 278,200 -9,800 -3.40%
Total City 452800 440,400 -12,400 -2.74%

 

 

Point of Interest

Just my personal opinion but it is important to note that buyers are still acting as if it is a buyer’s market. What I mean here is they are shopping carefully looking for value and taking their time to make decisions.

 

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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