Posts Tagged ‘calgary real estate’

Nov 2014, Calgary Real Estate Market Snapshot

Tuesday, December 2nd, 2014

Stay ahead of the curve by following our Monthly Market Snapshot of the Calgary Real Estate Market.  This shows what’s really happening in the Calgary Real Estate Market.  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.

Want to see stats specific to your Community?  Register for our Market Report at http://www.calgaryareasolds.com/

Find out what your Neighbor’s home sold for – Register for our Market Report at http://www.calgaryareasolds.com/ 

 

Calgary housing market softens slightly as we approach Christmas.  Single family homes and apartment Condos moved slightly toward a balanced market while the Townhouse market went slightly deeper into a Sellers market.  Below is a summary of some key areas with a few short comments.  

 

Calgary Listing Inventory: As I would expect all Inventory levels decreased this last month. Inventories typically decrease at this time of year as some people now wait until the New Year to list. Interestingly the decrease was about 40% less than our decrease in November last year.

 

Inventory

Oct 2014    

Nov 2014    

Change

Single Family Home

2780

2373

-408

Condo Townhouse    

568

511

-57

Condo Apartment  

1088

985

-103

Total

4436

3869

-567

 

Calgary Sales:

Typically at this time of year we also see sales numbers decreasing. Sales in November decreased in all categories. Compared to last year sales from October to November decreased slightly more than last year however sales numbers are still higher than November 2013.

 

Sales

Oct 2014    

Nov 2014    

Change

% Change

Single Family Home

1462

1181

-281

-.19

Condo Townhouse  

300

277

-23

-.07

Condo Apartment

385

324

-61

-.16

Total

2147

1782

-365

.17

 

 

 

 

Calgary Real Estate Sales Prices:

In November the benchmark price decreased for single family homes and increased for Townhouses and apartment condos. The change is so small it’s insignificant. December pricing should remain fairly stable. Based on what I am seeing my early prediction for the New Year is for prices to continue to increase for Single family homes, and less so for Townhouses. Apartment condo prices should remain fairly stable as we are in a balanced market state.  

Sales Prices

Oct 2014   Benchmark Price

Nov 2014   Benchmark Price

Change

Single Family Homes

513,500

511,300

-2,200

Condo Townhouse  

337,800

338,600

+800

Condo Apartment  

299,800

300,700

+900

 

Sales Prices “Year to Date”

Year to date prices – Prices have increased in all categories. Good news if you are a homeowner.

Sales Prices

Dec 31 2013 Benchmark Price

Nov 2014   Benchmark Price

Change

$

% Change

Single Family Homes

472,200

511,300

39,100

+9.3%

Condo Townhouse  

307,100

338,600

31.500

+10.25%

Condo Apartment  

278,600

300,700

22,100

+7.9%

 

 

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

Balanced Market

Between 2.8 to 4.0

Seller’s Market

<2.8

 

*** Absorption Rate:

This month the absorption rate increased for Single Family homes and Apartment Condos while Townhouses decreased slightly. This moves Single family homes closer towards a balanced market, Townhouses in a deeper Sellers market and apartment condos move stronger into a balanced market.

Absorption Rate

Oct 2014  

Nov 2014  

Change

Single Family Homes

1.90

2.01

+.11

Condo Townhouse  

1.89

1.84

-.05

Condo Apartment  

2.83

3.04

+.21

Total Calgary

2.06

2.17

+.11

 

**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.

 

 

October 2014, Calgary Real Estate Market Snapshot

Monday, November 3rd, 2014

Stay ahead of the curve by following our Monthly Market Snapshot of the Calgary Real Estate Market.  This shows what’s really happening in the Calgary Real Estate Market.  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.

Want to see stats specific to your Community?  Register for our Market Report at http://www.calgaryareasolds.com/

An interesting month in the Calgary Real Estate market. Apartment Condos and Townhouses continued to slowly shift away from a seller’s market towards a more balanced market. I find it interesting that Single Family homes moved slightly deeper into a Seller’s market. Attached please find a copy of the stats package from the Calgary Real Estate Board for the month of Oct 2014.  Below is a summary of some key areas with a few short comments.

 

Calgary Listing Inventory: Inventory levels typically decrease at this time of year as some people now wait until the New Year to list. That was the case for Single Family homes. Townhouses and Apartment condos increased very slightly but not big enough to make any substantial difference.

 

Inventory Sept 2014     Oct 2014     Change
Single Family Home 2961 2780 -181
Condo Townhouse 552 568 +16
Condo Apartment 1081 1088 +7
Total 4594 4436 -158

 

Calgary Sales:

Typically at this time of year we also see sales numbers decreasing. Sales in October decreased marginally for Townhouses and Apartment Condos while sales for Single Family Homes increased. I believe this may be still a backlog of buyers waiting for the perfect home to come on the market. It is critical to note that even though the sales are decreasing we are still substantially above our sales for 2013.

Sales Sept 2014     Oct 2014     Change % Change
Single Family Home 1397 1462 +65 +4.6
Condo Townhouse 318 300 -18 -5.6
Condo Apartment 432 385 -47 -10.9
Total 2267 2147 -120 -5.3

 

 

Calgary Real Estate Sales Prices:

In October, the benchmark price increased for all categories. Based on what I am seeing my prediction is for prices to continue to increase for Single family homes, and less so for Townhouses but Apartment condo prices should flatten as they are now in a balanced market state. If you have been following my reports you will notice the increases are continuing to get smaller every month.

Sales Prices Sept   2014   Benchmark Price Oct  2014     Benchmark Price Change
Single Family Homes 512,800 513,500 +700
Condo Townhouse 336,300 337,800 +1500
Condo Apartment 298,800 299,800 +1000

 

Sales Prices “Year to Date”

Year to date prices – Prices have increased in all categories. Good news if you are a homeowner.

Sales Prices Dec 31 2013 Benchmark Price Oct  2014 Benchmark Price Change$ % Change
Single Family Homes 472,200 513,500 +41,300 8.75
Condo Townhouse 307,100 337,800 +30,700 +9.99
Condo Apartment 278,600 299,800 +21,200 +7.61

 

 

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
Balanced Market Between 2.8 to 4.0
Seller’s Market <2.8

 

Absorption Rate:

This month the absorption rate increased for Townhouses and Apartment Condos and decreased for single family homes. This puts single family homes in more of a sellers market while it puts apartment condos into a balanced market.

Absorption Rate Sept 2014   Oct 2014   Change
Single Family Homes 2.11 1.90 -.12
Condo Townhouse 1.74 1.89 +.15
Condo Apartment 2.50 2.83 +.33
Total Calgary 2.14 2.06 -.08

 

**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.

Calgary Real Estate Market Snapshot Sept 2014

Friday, October 3rd, 2014

Stay ahead of the curve by following our Monthly Market Snapshot of the Calgary Real Estate Market.  This shows what’s really happening in the Calgary Real Estate Market.  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!  The Calgary housing market is deeply  entrenched is a Sellers Market however is slowly changing and is moving toward a balanced market.

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

Want to see stats specific to your Community?  Register for our Market Report at http://www.calgaryareasolds.com/

 

Calgary Listing Inventory: Inventory levels for Single Family homes decreased while everything else increased this month. Typically this time of year we show increases in inventory. Single family home inventory went down which is not normal. I believe the reason is that we still have a large backlog of buyers waiting for the perfect home to come on the market, especially in the starter home price range.

 

Inventory Aug 2014 Sept 2014     Change
Single Family Home 3021 2961 -60
Condo Townhouse 437 552 +115
Condo Apartment 1056 1081 +25
Total 4514 4594 +80

 

Calgary Sales:

Sales in September decreased marginally in all categories. Sales numbers decreasing is very normal at this time of year.  It is critical to note that even though the sales are decreasing we are still substantially above our sales for 2013.

Sales Aug 2014 Sept 2014     Change % Change
Single Family Home 1477 1398 -79 -5.3
Condo Townhouse 338 318 -20 -5.9
Condo Apartment 452 432 -20 -4.4
Total 2267 2148 -119 -5.2

 

Calgary Real Estate Sales Prices:

In September, the benchmark price increased for all categories. Based on the inventory change, prices are likely to increase moderately for a few more months as we move from a seller’s market to a more balanced market. If you have been following my reports you will notice the increases are continuing to get smaller every month.

Sales Prices Aug 2014 Benchmark Price Sept   2014   Benchmark Price Change
Single Family Homes 512,300 512,800 +500
Condo Townhouse 328,300 330,200 +1900
Condo Apartment 298,200 298,800 +600

 

Sales Prices “Year to Date”

Year to date prices – Prices have increased in all categories. Good news if you are a homeowner.

Sales Prices Dec 31 2013 Benchmark Price Sept 2014 Benchmark Price Change$ % Change
Single Family Homes 472,200 512,800 +40,600 +8.6
Condo Townhouse 307,100 330,200 +23,100 +7.5
Condo Apartment 278,600 298,800 +20,200 +7.3

 

 

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
Balanced Market Between 2.8 to 4.0
Seller’s Market <2.8

 

Absorption Rate:

This month the absorption rate increased in all categories. For Single Family homes the ratio went up even though our inventory decreased – this is because sales decreased more. Condo Townhouses took the largest jump of .45, I believe this is just catching up as last month it went opposite of everything else.

Absorption Rate Aug 2014 Sept 2014   Change
Single Family Homes 2.05 2.11 +.06
Condo Townhouse 1.29 1.74 +.45
Condo Apartment 2.33 2.50 +.17
Total Calgary 1.99 2.14 +.15

 

**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 share

June 2014, Calgary Real Estate Market Snapshot

Tuesday, July 1st, 2014

Stay ahead of the curve by following our Monthly Market Snapshot of the Calgary Real Estate Market.  This shows what’s really happening in the Calgary Real Estate Market.  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!  The Calgary housing market is deeply  entrenched is a Sellers Market with very little supply and strong demand.  In June we started seeing a slight shift towards a buyers market but we have a long way to go.

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

Want to see stats specific to your Community?  Register for our Market Report at http://www.calgaryareasolds.com/

 

 

Calgary Listing Inventory: Inventory levels increased this month in all categories except townhouses. Increasing inventory levels is very normal at this time of year as many sellers wait until spring to sell. I am actually surprised that the levels did not increase more than they did.

Inventory May 2014   June 2014 Change
Single Family Home 2947 3128 +181
Condo Townhouse 576 523 -53
Condo Apartment 1051 1071 +20
Total 4574 4722 +148

 

Calgary Sales:

Sales in June decreased in all categories except for Townhouses which increased slightly. Sales numbers decreasing is very normal at this time as people start to go on summer vacations. The increase in sales in Townhouse is most likely that there is still a pent up demand and people were just waiting for the right one to come on the market.

Sales May 2014   June 2014     Change % Change
Single Family Home 2027 1769 -258 -14.5%
Condo Townhouse 410 427 +17 +3.9
Condo Apartment 511 474 -37 -7.8%
Total 2948 2670 -278 -10.4%

 

 

Calgary Real Estate Sales Prices:

In June, the benchmark price increased for all categories. Based on the inventory change, prices are likely to increase for a few more months as we move from a seller’s market to a more balanced market.

Sales Prices May 2014   Benchmark Price June 2014     Benchmark Price Change
Single Family Homes 504,300 509,700 +5,400
Condo Townhouse 321,400 326,000 +4,600
Condo Apartment 295,400 299,700 +4,300

 

Sales Prices “Year to Date”

Year to date prices – same as above, Prices have increased in all categories. Good news if you are a homeowner.

Sales Prices Dec 31 2013 Benchmark Price June 2014   Benchmark Price Change$ % Change
Single Family Homes 472,200 509,700 +37,500 +7.94
Condo Townhouse 307,100 326,000 +18,900 +6.15
Condo Apartment 278,600 299,700 +21,100 +7.58

 

 

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
Balanced Market Between 2.8 to 4.0
Seller’s Market <2.8

 

Absorption Rate: For the third month in a row our absorption rate has increased. This indicates that the market is changing and we are moving towards a balanced market. Please note that we are so deep in a Seller’s market that it will take us a few more months of this trend to reach a balanced market state. My prediction is that this trend will continue and by September or October we will be approaching a balanced market – maybe sooner for apartment condos.

Absorption Rate May 2014   June 2014   Change
Single Family Homes 1.45 1.77 +.32
Condo Townhouse 1.40 1.22 -.18
Condo Apartment 2.06 2.26 +.20
Total Calgary 1.55 1.77 +.22

**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

 

 

May 2014, Calgary Real Estate Market Snapshot

Saturday, May 3rd, 2014

Stay ahead of the curve by following our Monthly Market Snapshot of the Calgary Real Estate Market.  This shows what’s really happening in the Calgary Real Estate Market.  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!  The Calgary housing market is deeply  entrenched is a Sellers Market with very little supply and strong demand.   Last month  (March) sales increased by 38% and our inventory only increased by 12.0%. This month (April) sales increased by only 2.4% while inventory increased by 17.2%.

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

Want to see stats specific to your Community?В  Register for our Market Report at http://www.calgaryareasolds.com/

Good news for home buyers.В The Calgary housing market is still very busy however it is finally showing signs of change.

Calgary Listing Inventory: Inventory levels increased this month in all categories. This is what normally happens at this time of year. The interesting thing is that many sellers coming to the market are hoping to cash in on the seller’s market and are listing their homes substantially higher than the market will pay. Home’s that are listed at or slightly above market values are still often getting competing offers and are selling in the first day or two.

Inventory March 2014В В  April 2014В В  Change
Single Family Home 2052 2445 393
Condo Townhouse 389 445 56
Condo Apartment 791 898 107
Total 3232 3788 556 or 17.2%

 

Calgary Sales:

Sales in April increased in every categoryВ over last month which isВ to be expected at this time of year. Again interesting the total sales increase over last month was only 2.4%. Substantially lower than in previous months.

Sales March 2014В В  April 2014В В  Change % Change
Single Family Home 1699 1736 37 2.1
Condo Townhouse 341 360 19 5.5
Condo Apartment 445 449 4 .9
Total 2485 2545 60 2.4

В 

В 

Calgary Real Estate Sales Prices:

In April, the benchmark price increased for all categories. Based on the inventory change, prices are likely to increase for a few more months until we move from a seller’s market to a more balanced market.

Sales Prices March 2014В В  Benchmark Price April 2014В В  Benchmark Price Change
Single Family Homes 490,600 496,700 6,100
Condo Townhouse 313,100 316,700 3,600
Condo Apartment 287,200 291,700 4,500

В 

Sales Prices “Year to Date”

Year to date prices – same as above, Prices have increased in all categories. Good news if you are a homeowner and not so good news for those wanting to get into the market.

Sales Prices Dec 31 2013 Benchmark Price April 2014В В  Benchmark Price Change

$

% Change
Single Family Homes 472,200 496,700 24,500 5.19
Condo Townhouse 307,100 316,700 9,600 3.1%
Condo Apartment 278,600 291,700 13,100 4.7%

В 

В 

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

Buyer’s Market >4.0
Balanced Market Between 2.8 to 4.0
Seller’s Market <2.8

 

Absorption Rate: This is where it gets interesting. One month does not make a trend but it can certainly start one. For the first time in almost a year the increase in inventory is substantially larger than the increase in sales. This means that we are moving closer to a balanced market however we still have a long ways to go to get to that point. My prediction is that this trend will continue and by July or August we will be approaching a balanced market – sooner for apartment condos.

Absorption Rate March 2014В В  April 2014В В  Change
Single Family Homes 1.21 1.41 .20
Condo Townhouse 1.14 1.24 .1
Condo Apartment 1.78 2.0 .22
Total Calgary 1.30 1.48 .18

**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

62 Citadel Meadow Gardens NW Calgary Ab. T3G 5N4

Thursday, April 3rd, 2014

Perfect starter home or investment .

Pride of ownership shows in this immaculate, open concept 3 bedroom end unit townhouse with double garage backing onto a green belt. Quiet location in complex and low condo fees make this home very attractive.  Feature’s spacious living room with cozy corner gas fireplace patio door to step onto your deck to enjoy your morning coffee.  Kitchen features pantry and newer stainless steel appliances.  Master Bedroom is large and features a 3 piece ensuite and walk in closet.  Two other bedrooms are spacious.  Basement in undeveloped, has rough in for bath and is awaiting your creative design.  Double attached garage is insulated and dry walled and includes cabinets. Close to transit.  Visit our video tour at http://youtu.be/2Xj5gyIcq4U

MLS C360590026a003 - Open2view ID4205 - 62 Citadel Meadows Garden NW020 - Open2view ID4205 - 62 Citadel Meadows Garden NW001 - Open2view ID4205 - 62 Citadel Meadows Garden NW

92 Harvest Glen Rise NE Calgary T3K 4C1

Friday, March 21st, 2014

Pride of ownership shows in this beautiful bungalow. Upon entry you will appreciate the vaulted ceilings, hardwood flooring and bay windows.  Main floor features living room with fireplace, dining room.  Kitchen is very functional and provides newer fridge and convection oven.  Features a dining nook and a door to your beautiful south facing 2 tiered deck and large yard.  Master bedroom features a 4 piece ensuite. Two other bedrooms and main bath finish off the main floor.  Downstairs is fully developed with large family room, hobby room with attractive French doors, large bedroom, a smaller office/bedroom, bath and laundry room.  All this located in desirable Harvest Hills which provides golf course, parks, schools, shopping and now provides easy access to Deerfoot trail and the airport.

Check out our Video tour at:   http://youtu.be/G4_FvFcTERY

 

005 - Open2view ID4149 - 92 Harvest Glen Rise NE003 - Open2view ID4149 - 92 Harvest Glen Rise NE20d21a

1201 Millrise Point SW Calgary Alberta T2Y 3W4

Thursday, March 20th, 2014

New listing. Beautiful, bright and open best describes this Condo.  This corner unit two bedroom, two bath condo is in excellent condition and has recently seen upgrades including quality laminate flooring, light fixtures, stainless steel appliances and window coverings.  Ideally located this second floor unit has no other units above.  Upon entry you will enjoy the spacious layout, functional kitchen, lots of windows that provide natural light and your fireplace.  Enjoy your morning coffee on the large south facing deck.  Master bedroom features a 4 piece ensuite.  Insuite laundry. Titled parking stall is #70.  Quiet 45+ adult building. Small pets allowed with approval.  Complex located a short walk to LRT Station.  heck out our video tour at

http://youtu.be/7c1zPelU1uE

010 - Open2view ID4130 - 1201_1000 Millrise Point SW002 - Open2view ID4130 - 1201_1000 Millrise Point SW

Calgary Real Estate Market Snapshot updated Jan 2014

Wednesday, January 1st, 2014

Want to know what’s really happening in the Calgary Real Estate Market.  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 on the Market.  The Calgary housing market is still entrenched is a Sellers Market with limited supply and strong sales and I do not see that changing anytime soon.

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:  Inventory levels for all categories dropped substantially this last month.  This is simply a seasonal adjustment that happens every year. In the next few days listings will start to hit the market bringing these numbers right back up.

Inventory 

November  2013    

December   2013   

Change

Single Family Home

2171

1515

-656

Condo  Townhouse

380

242

-138

Condo  Apartment

605

479

-126

Total

3156

2236

-920

 

Calgary Sales: 

Sales in December declined in all categories and again this is very normal for the month of December. Considering the weather I think we faired well.  It is also important to note that sales in December were 8.3% higher than in December 2012.  I am very confident that January’s numbers will be much higher.

Sales

November   2013 

December   2013  

Change  

%   Change

Single Family Home

1006

744

-262

-26.0

Condo  Townhouse

228

179

-49

-21.5

Condo Apartment

305

221

-84

-27.5

Total

1539

1144

-395

-25.6

 

 Calgary Real Estate Sales Prices:  

In December, the benchmark price increased for all categories except apartment Condos which saw a small decrease.  As long as our ratio of sales to listings remains the same this upward trend will continue.

 

Sales Prices

November 2013

Benchmark Price

December 2013

 Benchmark   Price  

Change  

Single Family Homes

470,600

472,200

+$1,600

Condo Townhouse

305,700

307,100

+$1,400

Condo  Apartment

279,600

278,600

-$1,000

 

Sales Prices “Year to Date”   

Year to date prices have increased in all categories.  Good news if you are a homeowner and not so good news for those wanting to get into the market.

Sales Prices Dec  31 2012  Benchmark Price 

Dec 31. 2013

Benchmark Price   

Change

$  

%   Change

Single Family Homes

434,800

472,200

+37,400

+8.6%

Condo Townhouse

284,100

307,100

+23,000

+8.1%

Condo  Apartment

248,700

278,600

+29,900

+12.0%

 

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

Balanced Market

Between 2.8 to 4.0

Seller’s Market

<2.8

 

Absorption Rate:   This doesn’t tell us much this month as December is a funny month where lots of people take their home off the market for the holidays and then relist in Jan.   We are still in a strong seller’s market position and I don’t see that changing anytime soon.  In the starter home price range we are still seeing lots of competing offers.

Absorption Rate  

November 2013   

December 2013  

Change  

Single Family Homes

2.15

2.03

-.12

Condo Townhouse

1.67

1.35

-.32

Condo  Apartment

1.98

2.17

+.19

Total Calgary

2.05

1.96

-.09

**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 & Jason

How a Home Inspection Helps You

Tuesday, December 10th, 2013

How a Home Inspection Helps You

Whether you’re considering buying a particular home, selling your current property – or both – a home inspection can help.

 

A home inspection is an inspection by a qualified professional who takes a close look at every aspect of a home – structure, wiring, plumbing, and more – and identifies issues you may not have noticed yourself. For example, a home inspection can reveal that a furnace will need to be replaced soon, or that there is a water leak into the basement that needs to be fixed.

You’ll definitely want to get a professional home inspection before you buy a particular property. That’s why almost 100% of offers to purchase a home are conditional upon passing a home inspection. (The last thing you want is to buy your dream home only to discover that the wiring needs to be updated!)

Some Sellers like to get a home inspection on their own home before listing it for sale.  This helps to identify issues a potential buyer may find so that you don’t lose out on any potential buyers.  This is done more when it is a Buyers market and right now in Calgary that is not the case – we are very much in a sellers market.

Many reputable home inspectors are members of a professional industry association.

• Canada Association of Home & Property Inspectors. (http://www.cahpi.ca)

• Professional Home and Property Inspectors of Canada. (http://www.phpic.ca)

• National Home Inspectors Certification Council. (http://www.nationalhomeinspector.org)

In my opinion it is not just important to find a licensed home inspector but to find someone with a construction or building background.

It’s important to note that licensing is now a requirement in Calgary and Alberta wide.  So select a home inspector carefully.

Need to find a reputable home inspector? Call today.