79 Riverglen Way SE Calgary Ab. T2C 3H9

April 27th, 2016

Check out our new listing in Riverbend.  Don’t let the outside fool you as this home has been totally renovated.

Stunning, bright open concept renovated home in a great location.  Upon entry you will enjoy the open feeling, proceed into the living room with bay window and beautiful engineered hardwood flooring.  Kitchen built for entertaining with custom cabinets, granite countertops and SS appliances.  Features a large island with breakfast bar and a separate dining area that can accommodate a large family.  Master walks out to deck where you can enjoy your coffee and low maintenance fenced mature yard. Main bath features dual sinks, claw tub and circular glass shower.  Lower level is soundproof, bright with large windows and would be paradise for a mother in law, nanny.  Features a bright rec room, a large bedroom with a walk in closet with custom shelving. Ensuite bathroom is spa like with marble tile, dual sinks, and a walk in steam room/shower.  Walking distance to schools, shopping, transit and a park. Google say only a 4 min drive to Quarry Park and 17 minutes to downtown.  This home is a must see!

MLS Number is C4061432

For more information please contact Gord Piper at 403-861-2256

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Charleswood Gem 2627 Charlebois Drive NW Calgary T2L 0T5

April 23rd, 2016

Immaculately kept bungalow on a massive (814 Sq. M) pie lot on one of the most desirable streets in Charleswood.   Very well cared for and has seen many updates over the years including windows. More recent upgrades include siding, shingles, eaves and soffit.  Main floor features L Shaped living room/dining room with gleaming hardwood, kitchen with pantry and bay window.  Three generous sized bedrooms (with hardwood under carpet) and updated main bath complete the main floor. Downstairs you will find a large rec room, updated bath, a large bedroom and a workshop that is easily converted to a bedroom.   If you love the outdoors you will not want to miss this beautiful large yard with mature trees and a covered patio.  Don’t forget the detached garage with an extra parking stall in your paved alley.  Location is ideal only a few minute walk to the LRT, Brentwood Mall or the University. Nearby are schools golf, parks and the Triwood Community center.  Google says 10 minutes to core.

Check out the full listing here

 

MLS Number C4060907

 

004_Open2view_ID6650-2627_Charlebois_Dr_NW 007_Open2view_ID6650-2627_Charlebois_Dr_NW 016_Open2view_ID6650-2627_Charlebois_Dr_NW 037_Open2view_ID6650-2627_Charlebois_Dr_NW 045_Open2view_ID6650-2627_Charlebois_Dr_NW 049_Open2view_ID6650-2627_Charlebois_Dr_NW

 

 

 

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April 1, 2016 Calgary Real Estate Market Snapshot

April 1st, 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 and ahead of most! All numbers are taken from the Calgary Real Estate Boards Stats package for Realtors.

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 1.       Drives prices down
Balanced Market Between 2.8 to 4.0 2.       Prices typically remain stable
Seller’s Market <2.8 3.       Drives prices up

 

*** Absorption Rate***   

In my opinion this is the most critical number to look at.  This is now the second month in a row where the absorption rates have lowered.  The market has changed and Detached homes are now well into a balanced market.  This should reflect in no more price decreases.  Both Attached homes and apartment condos are still in a buyers market position but have moved substantially closer to a balanced market position.

Feb  2015 Mar  2016 Change
Detached 4.26 3.06 -1.20
Attached 4.99 4.52 -0.47
Apartment 8.35 5.97 -2.38
Total City of Calgary 5.04 3.83 -1.21

 

 Calgary Listing Inventory

In March our total inventory of listings in Calgary increased in all 3 categories.  This is very typical for this time of year as many sellers wait until the spring market and this year spring is arriving early.  This seasonal trend should continue for the next few months.

Inventory Feb  2016 March  2016 Change
Detached 2943 3077 134
Attached 1336 1473 137
Apartment 1402 1534 132
Total City of Calgary 5681 6084 403

 

Calgary Sales:

Sales in all categories Increased in February and all by a substantial amount.  It is normal for the season that sales increase but this is a lot more than just a seasonal adjustment.  Not sure everything behind it but it seems a lot of people who have been sitting on the fence are now out buying.

 

Sales Feb 2016 March 2016 Change % of Change
Detached 691 1005 314 45.44%
Attached 268 326 58 21.64%
Apartment 168 257 89 52.98%
Total City of Calgary 1127 1588 461 40.91%

 

 Calgary Real Estate Sales Prices:  

Prices for all categories decreased marginally this month.  Being that we were in a Buyers market for most of the month this makes sense to me. Moving forward I predict detached homes to remain flat and attached and apartment condos to continue to decrease slightly.

  Sales Prices Jan   2015Benchmark Price  Feb  2016Benchmark Price Change
Detached 504400 502400 -2000
Attached 338900 336500 -2400
Apartment 283600 281300 -2300
Total City of Calgary 445000 442800 -2200

 

  Sales Prices “Year to Date”   

Year to date prices

Sales Prices Dec 31, 2015   Benchmark Price  Feb  2016Benchmark Price Change$ % Change
Detached 508700 502400 -6300 -1.24%
Attached 351400 336500 -14900 -4.24%
Apartment 285500 281,300 -4,200 -1.47%
Total City of Calgary 448800 442800 -6000 -1.34%

 

 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.

 

TSW Real Estate Group

Gord Piper & Brent Wilcox

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Tips for Buying a New Build Condo

March 15th, 2016

Tips for Buying a New Build Condo

With signs of uncertainty in the market, it has never been more important to analyze your next real estate investment. Jumping into the unknown and hoping for the best is risky business. While this tactic may have worked over the past few years during Calgary’s more lucrative real estate market it is even more risky in this economy. Real estate has never been a fool’s game and now is the time to switch strategies and become more diligent for a greater chance of success.

It’s also not a great idea to sit on the sidelines with your cash. Downward market shifts can be great because it amplifies the good, the bad, and weeds out the average. Keeping all of that in mind let’s take a look at some important factors you need to consider before buying a newly built condo, whether it’s for an investment, an upgrade, or your first home.

  1. Pricing

There’s an old saying in real estate – you make money in real estate by what you pay for your home, not when you sell it. Pricing is the easiest way to ensure that you are on the right track. If you are buying in a hot market or a popular neighborhood you may end up paying an inflated price for the location, and what if that location is no longer the hot spot when you are ready to leave? Stay away from inflated prices and trends.

  1. Developer Experience

The problem with heated markets is that it attracts amateurs that want to get in on the action. More often than not these products lack quality and design. They may look great on paper but the underlying issues will make you want out faster than the ink can dry. If you are looking to buy a newly built condo try to buy from a developer with plenty of projects already in their portfolio.

  1. Location and Neighborhood

Condo investments, resale or new, hinge on their location and the neighborhood that surrounds them. The neighborhood makes the condo and not the other way around. This doesn’t mean that the neighborhood has to be completely developed and urbanized; it just means that it has to have the foundation for resale and rental capacity.

  1. Location of Your Unit

Consider your view and location within the building. Try avoiding units near the buildings garbage area, parkade and the main lobby. A good view and location in the building will always make your living experience more enjoyable than one without. Keep in mind that a below average view has the ability to adversely affect your resale potential.

  1. Running the Numbers

Most first time buyers will know what they want to spend on a mortgage payment every month, and how much they have been pre-approved for but the numbers go so much deeper than that. Do you know what the monthly condo fees will be? Will you have to pay for your utilities? What about a parking stall? Even the closing costs vary when it comes to buying a condo versus buying a regular home. Make sure you have a good idea of what ALL of your monthly costs will be before you make your final decision.

 

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February Calgary Real Estate Market Snapshot

March 1st, 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 February our total inventory of listings in Calgary increased in all 3 categories.  This is very typical for this time of year as many sellers wait until after the holiday season to list their homes.  This seasonal trend should continue for the next few months.

Inventory Jan 2016 Feb 2016 Change
Detached 2546 2943 397
Attached 1223 1336 113
Apartment 1253 1402 149
Total City of Calgary 5022 5681 659

 

Calgary Sales:

Sales in all categories Increased in February.   This again is seasonal and it’s important to note that this Feb we are 6.63% under sales for Feb 2015.

Sales Jan 2016 Feb 2016 Change % of Change
Detached 465 691 226 48.60%
Attached 170 268 98 57.65%
Apartment 129 168 39 30.23%
Total City of Calgary 764 1127 363 47.51%

  

Calgary Real Estate Sales Prices:  

Prices for all detached and attached homes showed decreases in February.  Apartment Condos showed a slight increase in price.  This may be because apartment condos have been showing price decreases for several months.

 

  Sales Prices Jan   2015

Benchmark Price 

Feb  2016

Benchmark Price

 Change
Detached 509300 504400 -4900
Attached 345600 338900 -6700
Apartment 281900 283600 1700
Total City of Calgary 447300 445000 -2300

 

Sales Prices “Year to Date”   

Year to date prices

Sales Prices Dec 31, 2015   Benchmark Price  Feb  2016

Benchmark Price

 Change

$

% Change
Detached 508700 504400 -4300 -0.85%
Attached 351400 338900 -12500 -3.56%
Apartment 285500 283,600 -1,900 -0.67%
Total City of Calgary 448800 445000 -3800 -0.85%

 

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.  Of interest the trend reversed this month.  The last several months our Absorption rate has been increasing and this is the first time in several months that it decreased.  Does this mean the market has changed – I would not be so quick and would suggest that one month does not make a trend so let’s watch.

Absorption Rate   Jan   2015 Feb  2016 Change
Detached 5.48 4.26 -1.22
Attached 7.19 4.99 -2.21
Apartment 9.71 8.35 -1.37
Total City of Calgary 6.57 5.04 -1.53

  

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.

If you know anyone else who might enjoy seeing our monthly summary please share.

TSW Real Estate Group

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House or Condo?

February 25th, 2016

The Big Debate- House or Condo-The decision to buy a house or a condo is personal and a matter of lifestyle.

The Pros and Cons

Condos can be less money to get into, but you likely will pay a monthly condo fee. These fees will factor into your mortgage approval amount.

There are huge lifestyle differences when it comes to the house vs condo debate.
A condo comes with the benefit of less upkeep like not having to mow the lawn or shovel the walkway.

Others may prefer a home for that traditional neighborhood, family environment. Maybe the buyer loves the idea of a yard or garden to keep.

Yes, the Condo/House debate is truly a personal one.
After all, it is the buyer making the investment.

A professional can assist you with needed information. But in the end, it will be you who must decide what is important. Weigh the pros and cons for you, your family, and your lifestyle.

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January Market Snapshot

February 3rd, 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 January our total inventory of listings in Calgary increased in all 3 categories. This is very typical for this time of year as many sellers wait until after the holiday season to list their homes.

 Inventory  Dec  2015 Jan  2016 Change
Detached 2138 2546 +408
Attached 1078 1223 +145
Apartment 1120 1253 +133
Total City of Calgary 4336 5022 +686

 

Calgary Sales:

Sales in all categories decreased in January.   In my opinion this is a direct reflection on what is happening in the Calgary economy as sales would typically increase in Jan over Dec.   Last year in Jan we sold 877 homes and this year we sold only 764 so we are also down from last year by 13%.

 

Sales Dec  2015 Jan  2016 Change % Change
Detached 533 465 -68 12.8%
Attached 194 170 -24 -12.4%
Apartment 151 129 -22 -14.6%
Total City of Calgary 878 764 -114 -13.0%

 

Calgary Real Estate Sales Prices:  

Prices for all detached homes showed a very slight increase this month while all other categories showed a decrease.  ***** CREB Stats Reported in our stats package show different numbers today for benchmark price for detached and attached homes for the end of the year.  It appears to me they may have reclassified something as detached homes are showing higher and attached are showing lower by about $4,000.  If I am correct then detached homes showed a slight decrease and attached homes showed a much smaller decrease.

  Sales Prices Dec  2015Benchmark Price  Jan  2016Benchmark Price Change
Detached 508,700 509,300 +600
Attached 351,400 345,600 -5,800
Apartment 285,500 281,900 -3,600
Total City of Calgary 448,800 447,300 -1,500

 

Sales Prices “Year to Date”   

Year to date prices – Same as above for this month.

Sales Prices Dec 31, 2015   Benchmark Price  Jan  2016Benchmark Price Change$ % Change
Detached 508,700 509,300 +600 +.11
Attached 351,400 345,600 -5,800 -1.65
Apartment 285,500 281,900 -3,600 -1.26
Total City of Calgary 448,800 447,300 -1,500 -.33%

 

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.  January saw an increase in the absorption rate in all categories. This puts all sectors into a buyer’s 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   Dec  2015 Jan  2016 Change
Detached 4.01 5.48 +1.47
Attached 5.56 7.19 +1.63
Apartment 7.42 9.71 +2.29
Total City of Calgary 4..94 6.57 +1.63

 

Why would people buy in this market?

Two reasons come to mind. The first is people need a place to live and Real Estate has typically been looked at as a long term investment.  The second reason is that the higher priced homes have come down substantially more than the lower priced homes so it can be smart to “Move up” in a market like this.

 

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.

 

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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2016 Economic Outlook

January 20th, 2016

2016 Economic Outlook

CREB has released their 2016 Economic Outlook and Regional Housing Market Forecast. In this document they outline their forecast of the next year and go into depth on the following topics:

  • The global economy
  • Interest rates
  • The energy sector
  • The local economy
  • Employment
  • Population growth
  • Calgary housing market, including rentals, resale and new builds
  • Surrounding area housing markets.

This is a fantastic read for anyone interested in local real estate and has some great insights into what we may expect in the coming year. If you would like to read the full report please check it out here.

 

 

 

 

 

 

 

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Home Buyers Stress

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?

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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