Thursday, May 9, 2013
Just Listed - 54 Country Hills Heights NW
Enjoy this beautiful 2 storey home in Country Hills with a finished walkout basement and oversized double detached garage with a paved back lane. Located on a quiet side street it is situated very close to public transit and various school bus stops. Across the street from the front porch is a playground and you can see the soccer fields from the back deck. This home checks all the boxes: all appliances included, central air conditioning installed, recently professionally developed basement with permit, stainless steel appliances in the kitchen, large back deck with stairs down to the spacious backyard and poured concrete lower patio. Side pathway provides additional separation from neighbours. The layout includes 3 spacious bedrooms upstairs and a total of 2 1/2 bathrooms. The main level provides a large living/dining area and an efficient kitchen layout complete with breakfast nook. This gem is a very bright home with large windows throughout.
Thursday, May 2, 2013
Calgary Real Estate Market Update - May 2, 2013
If you've been actively looking for a home or watching the sale signs, you already know what's in this update. The market has picked up pace. Especially in the lower price points, homes and condos are selling quickly. Drive around and you'll see more signs with sold stickers than those without. Multiple offers are becoming more common and the pressure to decide quickly is increasing.
Saturday, April 13, 2013
Hosting an Open House today in Valley Ridge - 276 Valley Crest Rise NW
When: April 13: 2-4 pm
A stunning home, on one of Valley Ridge's most sought after streets. Just across the road from the ridge, this home is extremely clean, and has had a tremendous amount of upgrades competed in the last 12 months including; main floor family room flooring, granite throughout, a fully developed walk out basement with a custom built wet bar, custom window seat, a new bedroom with contemporary French doors allowing tons of light in, and a spectacular new bathroom in the basement which includes two custom seats, a full glass surround, steam, and in floor heat. This fantastic home also includes a wide-open floor plan with a huge kitchen island and eating bar. Upstairs, there is a large master bedroom with a terrific en suite just waiting for you to relax in with a jetted tub as well as his and her sinks. The landscaping has all been taken care of and is tastefully done. An extremely desirable location steps to the ravine, and a short jaunt to the golf course make this location perfect.
2044 sq ft, 4 total bedrooms, 3 1/2 baths, fully finished with attached double garage.
Come visit today to view this home and learn more about Valley Ridge.
Tuesday, April 9, 2013
New Listing - 103 Citadel Crest Green NW
Fully finished home located on a quiet circle within a short walk to Citadel School (no major roads to cross). The main floor provides an open concept kitchen/dining and living room with hardwood floors running most of the main floor as well as a half bath and laundry room. The expansive kitchen has been upgraded with additional maple cabinetry that runs the entire back wall, gas range with convection oven and warming tray, corner pantry and spacious island. The glass enclosed deck is just beyond the dining area. Enjoy the south facing landscaped backyard with a beautiful trellis that overflows with stunning vines. Upstairs the master offers a spacious layout, 4 piece ensuite and walk in closet. Two additional bedrooms and full bath complete the upstairs. The basement is fully finished with permits including a bedroom, full bath, rec room and separate office. Shortly to be completed: New roof, gutters and siding repairs. Double attached garage. Call for your private viewing today.
Total Bedrooms: 4
Total Baths: 3 1/2
Attached double garage, fully finished
Thursday, April 4, 2013
Just Listed - 155 Tuscany Court NW - Open House Sat April 6: 2-4pm
Move in ready and sparkling clean 3 bedroom townhouse in the Mosaic Mercado in Tuscany. Hardwood floors throughout the main level. Enter into the living room with double height ceilings and a wall of windows facing west. The living room is open to the bright kitchen above with maple cabinets, black appliances, a movable island and ample counter space. The kitchen leads to the spacious dining room and office/den nook that would be great for a computer station or kids corner. Renovated half bath on the main includes a glass vessel sink and wainscoting trim detail. The upper level provides 3 bedrooms and a full 4 piece bath. Double attached garage. Included washer/dryer on the basement level. Enjoy a bbq on your private front patio. Located within a short walking distance to Sobeys and the Tuscany Shopping Area, transit stops, the Tuscany Club and 12 Mile Coulee School, this unit is close to both amenities and the parks and walking paths of Tuscany.
3 bedrooms, 1 1/2 bath
Double attached garage
All appliances included
Wednesday, April 3, 2013
Calgary Real Estate Market Update - April 2, 2013
What a difference a few weeks make. All those folks looking for a home, especially in the lower price points, have noticed that homes are going from new to pending or sold quicker than they were a few weeks ago. Homes are selling closer to list price, statistically speaking, and we're seeing more multiple offer situations. In some corners of the city, we're seeing a distinct seller's advantage. Many communities are now seeing an average Sale Price to Listing Price Ration of over 98% and even 99.5 or 100% as a monthly average. This has been steadily moving up over the last few weeks. If you are searching for a new home, getting paperwork in order and being prepared with preapprovals and plans is more important than ever. Those amazingly low mortgage rates, low rental availability and the prosperity in our city has had a significant impact on the residential real estate market.
Buyers that have been checking out the market for more than a few months may need some time to adjust to the new pace. In recent years, buyers had time to review all options, and take time to decide, but that is no longer the case. As the rental market has gotten tighter as well, it is a challenge for newcomers to our city. That being said, if you know about a home for rent in the NW or Cochrane that would accept pets please let me know. I'm trying to help find a family a home.
If you are selling your home and your market evaluation is more than a week or two old, then it is out of date. Get up to date information as you get closer to your list date. Timing is everything. And as always, that beautifully presented home will see more showings, more interest and a better opportunity for stronger offers.
The numbers from the CREB press release:
Wednesday, March 27, 2013
Missed the first unit? Now listed: 1512 Edenwold Heights NW
Just SOLD - 2914 Edenwold Heights NW. Conditionally sold within 1 week of listing.
Now LISTED - 1512 Edenwold Heights NW. If you missed the first opportunity, here is another chance:
One bedroom unit in the Edgecliffe Estate complex located in Edgemont. This west facing unit in building 1500 offers an open concept layout including a kitchen with wrap around counter, warm living room with a gas fireplace and a separate dining area. The full bath and insuite washer/dryer are just across the hall from the bedroom. One outside parking stall is assigned to this unit. Large deck to enjoy a summer BBQ. The clubhouse offers great amenities including a pool, hot tub, steam room, large exercise room/gym with ample equipment and party room with a pool table. Great location close to Nose Hill, Market Mall, U of C, Hospitals and transit access. Ask about the investor rental pool. Unique and attractive opportunity for investment via on site rental management. With recent exterior updates and improvements including all new stucco and windows, this complex shows very well.
Wednesday, March 27, 2013
Changes to Condominium Legislations. Why you should care.
The Minister of Service Alberta, The Honourable Manmeet S. Bhullar, held a town hall meeting tonight, March 26, 2013 with thousands of Alberta Realtors to get input and answer questions regarding condo developments, condo management and the property management industry. The scope is very large. We're talking about a lot of money here. The investments of thousands upon thousands of condo owners and how those investments are managed.
It was a very interesting town hall call and I am looking forward to future changes. Until May 2 you also have a voice and I encourage you to voice your opinion.
Why you should care:
As a realtor, I want to help you sell a condo unit for top dollar with the knowledge that your building is well run and well maintained. You shouldn't have to pay hundreds of dollars to get access to documents to find out it's not when you are making a move. I want to assist buyers in finding great new homes without concern that they will find out about issues after their purchase. They should find out before so that they pay appropriate market value. Every property has value, but disclosure is the key.
Voice your opinion. Service Alberta Condominium Consultation
Thank you for taking the time, now back to our regularly scheduled programming. :)
Tuesday, March 19, 2013
Looking for a home in a lake community in NW Calgary?
Situated just south of Stoney Trail within the ring road, lies the ever popular community of Arbour Lake. The draw? If you want to dip your toes into a lake this summer a few minutes from home while still residing in the NW and minutes from shopping, LRT access and many local amenities, then Arbour Lake is a community you should consider. The lake even hosts an ice fishing derby in the winter along with ice skating so it is no wonder it was rated #2 - Calgary's Best Neighbourhood 2012 by Avenue Magazine.
Monday, March 11, 2013
Would you spend $500 to potentially make $5000? Some great odds if talking any investment.
Would you spend $500 to potentially make $5000. Some great odds if talking any investment.
Why then would a homeowner not spend $500 or $700 or more or less in preparing a home for sale when there are strong indicators that such improvements would add value to the final sale price?
It depends on the market and what is expected in any given area, but understanding how other homes are presented and how you compare is an important starting spot when considering the sale of your home.
If your home presents above the area standard, then you're in a great position. If it is well below, then consider the differences, cost and potential sale price. If you are average, but a declutter and a paint job away from being a standout, then make the investment and you'll see benefit for your hard work.
Staging and preparing a home for sale will add thousands to a final sale price. This type of staging isn't a construction project or a remodel. It is making the most of what currently exists with some cosmetic enhancements, furniture placement, lighting and a decoration. The difference between a blue cluttered living room and one with neutral beige walls, edited furniture and accessories can be amazing.
1. Decluttering - free in most cases or the cost of a storage locker.
If you aren't convinced, I invite you to do the following exercise. Choose a large apartment complex that is at least a few years old in your area and look up the listings. Most apartments will be similar as all were built around the same time. It is best when there are at least a few at a time. Some units will have been updated, while others more standard and others potentially occupied by tenants. Which one would you pick to view and why? If you gravitated towards those where the photos are bright, clean, neutral and well presented, you are among the large majority. These units are most likely very similar, but the well presented units sell for thousands more.
Need ideas for colors? Benjamin Moore has some great resources and preselected colors.
Not sure where to start? Give me a call at 403 850 2446. I'm happy to help.
Friday, March 8, 2013
New Listing - 2914 Edenwold Heights NW
Interested in owning a rental unit in Calgary ? This one is in a rental pool with on site management.
West facing unit in the Edgecliffe Estate complex located in Edgemont. The open concept layout includes a kitchen with wrap around counter, warm living room with a gas fireplace and a separate dining area. The bedroom also has a bright west facing window. The full bath and insuite washer/dryer are just across the hall from the bedroom. As the unit faces Edenwold Drive, it has direct access to street parking in addition to the parking stall assigned to this unit. You will have a bright balcony to enjoy an evening in the summer. The clubhouse offers great amenities including a pool, hot tub, steam room, large exercise room/gym with ample equipment and party room with a pool table. Great location close to Nose Hill, Market Mall, U of C, Hospitals and transit access. Ask about the investor rental pool. Unique and attractive opportunity for investment via on site rental management. With recent exterior updates and improvements including all new stucco and windows, this complex shows very well.
Tuesday, March 5, 2013
Real Estate Market Update March 5 2013
The snowstorm may put a short term damper on our enthusiasm and our ability to get around our awesome city, but the real estate market in Calgary doesn't look to be slowing down.
With many folks calling Calgary the bright spot in the Canadian market, the real estate market locally is showing positive growth. With sales just a touch down from this time last year and the average pricing hitting new records, the numbers speak to the day to day reality we are seeing. The challenge right now is the lack of inventory and the very tight rental market. This time last year there were 4,843 properties for sale in the City of Calgary. As of this posting there are 3,623 listings. There are less listings at lower price points than previous years so those looking for a $400,000 home are seeing fewer options and more competition than other price points.
In terms of limited inventory, it is a bit of a wait and see game for some buyers looking for homes with specific criteria especially in some neighbourhoods. I have buyers waiting for homes in some areas to come on market and we are seeing them sell very quickly when they do. Careful consideration of price is still very important as 'overpaying' is not something most will consider.
Those people moving between properties are reviewing the buy then sell vs the sell then buy scenario in a new light in this market. As a 'subject to sale' offer is more challenging to get accepted, those people that wish to buy with the confidence of knowing where they are moving are finding it more difficult. With the lack of homes on the market in some areas, these same people are cautious to list their homes because they don't want to sell and be left without any options especially considering the tight rental market. It's a scenario we haven't seen for some time. I've spoken to a few families about this recently and much of the stress can be removed with careful review and planning both financially and also in being ready to list their current home almost immediately once we find their new home. Get packing, organizing and meet with your mortgage representative. The upside is that the current home should sell in a reasonable time frame as well.
For those interested in listing a home for sale, the average days on market have reduced and sale prices moved closer to list prices on average. I've also noticed a few more people 'testing' pricing and the market. Buyers are still doing careful market evaluations (as are their lenders during appraisals) so the test will be quickly evalutated.
The condo market has stabilized now as well with positive growth shown both for apartments and townhome style properties. Careful review of condo documents and projects remains a must even in a tighter market.
Monday, March 4, 2013
Buying and selling grow ops and remediated grow ops in Calgary
A grow op property is one that has been used for the production of marijuana, in many cases mass production. Other similar properties are meth labs or clandestine drug operations.
I’ve recently received a few calls inquiring about various grow ops around the city. The calls seem to come in waves throughout each year. My challenge is that the prices of these homes often attract new buyers or those looking for a deal. The first step is education and then careful review.
When representing a buyer reviewing a home, the potential that it was a former grow ops is always a consideration. As banks are less and less willing to provide a mortgage on such a property, it isn’t even an option in many cases. (A great article by BC mortgage broker addresses this side of things. )
My family and I would never knowingly live in a former grow op. Nor would those of many inspectors and contractors I have asked. There are potential medical issues with a concern that the mold could return and also the knowledge that the home was used to produce and sell drugs. The folks who were originally involved and their friends and not so great friends may return for a visit one day. I don’t want my address on that list.
Friday, February 1, 2013
Real Estate Market Update - Feb 2, 2013
CREB officially released the January numbers today: Residential real estate sales in the city of Calgary started the year on a positive note, increasing by 15 per cent over the same month in 2012. Pricing has moved up. Pace has increased a bit.
The vibe is that there just aren’t that many listings out there and they are lower than we are generally used to. Don’t get me wrong. There are listings, but buyers have been used to selection and get a little anxious when they go to look and there are few properties that match their search criteria. It is to be expected this time of year after a couple months of holiday/winter inventory levels.
I have noticed some quicker movement in the sale of some properties, especially those appropriately priced and prepared for sale. The lower price points see this more as the lack of rental inventory is causing more people to look at home ownership. This is less true in the middle zone. Luxury and estate homes sales records continue to peak as we are in Calgary after all.
That being said, I just sent a number of new listings today to one buyer, all of which were posted this morning and early afternoon. If inventory stays low, we’ll see some buyers making quicker decisions. If inventory starts to climb a bit, things should remain rather balanced. As always, real estate sees an ebb and flow and timing can be everything.
Last year, a bit of the same trend happened early in the year and then things balanced out. Hopefully there are no more changes to lending policies this year and we can see a more consistent pattern in trends. It seems though that we are looking forward to growth in the Calgary market in terms of price and activity.
We live in a great city. If you need some help finding a place to call home, then give me a call. I’m happy to help.
Monday, January 28, 2013
Community Profiles - Rocky Ridge and Royal Oak
In the NW corner of Calgary, the popular communities of Rocky Ridge and Royal Oak both attract many homeowners in our city. With a growing infrastructure including the proposed NW Recreation Centre as well as easy access to the city, amenities, transit (including the upcoming LRT expansion to Tuscany, Rocky Ridge and Royal Oak) and the mountains for a weekend getaway, the homes in this area are very popular.
(There are also some awesome tobogganing runs and running trails, but I'll have to tell you about those in person.)
Thursday, January 3, 2013
January 3, 2013 - Calgary Real Estate Market Update
The real estate numbers for 2012 will be widely distributed as they show a marked increase in activity vs 2011 with a sales volume increase of 15%. Benchmark numbers indicate strong pricing adjustments vs 2012 and continue to point towards a stabilization and growth in our market. The next question is then what is in store for 2013?
The Calgary market is dependent on the energy sector and the resulting affect on need for workers, housing, commercial space and then retail, coffee shops, restaurants, etc. While other parts of Canada are showing slowing numbers we continue to see a growth in our economy and also very low rental vacancy rates. These trends point to increased demand on housing which most often results in an increase in pricing. However, it all depends on how strong the ongoing growth pressure is.Opinions vary strongly as to the growth potential for 2013. While some are calling for strong increases relative to 2012, many others are projecting more conservative growth of 2-3% while others are calling for the sky to fall. It's interesting negotiations when these folks are on opposite ends of the table.
Please don't read this to mean that you can now go out and ask 5-10% more for your home than last year. The averages and numbers are influenced by a higher sales volume in the luxury market which pushes up the average. As well, some areas of the city saw higher price increases last year while others saw declines. An average is just that and is not a reflection of the percentage point expected increase for any one property. The market remains balanced which means that buyers have choice. They understand value.
Condominium and townhouse sales are also gaining momentum, however, buyers are carefully reviewing condo documents so stay connected and ensure your building is being well managed. With many new projects underway in the city, there is choice so take your time and happy scouting.
Tuesday, December 11, 2012
Do you want to buy a home at the gateway to Calgary? Consider Valley Ridge
Tucked away just south of the Bow River (and Tuscany) and north of the Trans Canada Highway, the community of Valley Ridge has developed over recent years. Close to the city and minutes from Canada Olympic Park, it is also at the gateway to the city and a quick drive to Canmore and Banff.
Home to the Valley Ridge Golf Club, many homes provide unique and beautiful backyard views.
Tuesday, December 4, 2012
Calgary Real Estate Market Update - Dec 4, 2012
If anyone was out looking at houses this weekend, they must have been rather serious about buying a house. I mean, who else would brave inches of snow, freezing temperatures and icy streets.
Nearly eight consecutive months of double-digit, year-over-year sales growth has caused inventory levels to decline because new listings have not kept up. However, the ratio between sales and inventory indicates the market remains in balanced territory.
Monday, December 3, 2012
Buy or Sell this Winter or Wait until Spring?
This is the time of year, when things slow down on the real estate front as people are focusing more on the holidays and upcoming events, but although some take a break, there are many other buyers and sellers out there that continue to sell or look to buy a new home. While listings are slowing down, Calgary remains a unique market in Canada right now with many moving to our city in search of job opportunities and economic prospects. Along with local families either moving out of rental properties or just making a change, over 1400 properties changed hands in November and hundreds will follow in December.
This is also the time of year when new clients call as they begin their preparations and often ask if they should wait until spring. It really depends on your situation but if you consider the time to find a home, complete an inspection, and then wait the more standard 30-60 day possession period, you most likely would be moving early in the new year anyway. If your plans are to move in by March, getting prepared now would make sense so that you are prepared to move ahead in the new year. In my view, it really is more about the right home than whether the offer was signed in December or March. Keep an eye on new listings and if you find the right property, then lets make it yours.
As a seller, the winter months have a different set of challenges than the summer. There is no weeding or moving of the lawn, but it would be best to clear the walk and driveway or snow and ice. Holiday lights replace flower displays. Holiday bouquets replace fresh summer flowers. A warm fireplace and a large front mat are welcome accessories. There are less buyers, so most likely less showings, but maybe those braving the elements are a more serious crowd than visits to a summer open house. Know your market, your competition and present your home at its best.
Saturday, November 3, 2012
Calgary Real Estate Market Update - Nov 3, 2012
Calgary's residential real estate market continues to show positive growth.
City of Calgary sales activity marked a 23-per-cent increase over levels recorded in October 2011. The continued improvement in sales has pushed year-to-date sales activity to nearly 16-per-cent above levels recorded in 2011.
The detailed CREB statistics reports outlines the details, but the coles notes version is that while there is uncertainty in Vancouver and Toronto, Calgary real estate continues to remain at balanced levels and forecasts predict slow and steady growth. The positive economic outlook in our province, along with very low interest rates and a tight rental market may be encouraging people to look to home ownership. (Yes, a buyer can currently lock in at a 2.99% 5 year mortgage rate.)
Speaking of 2.99%, there was a great article in the Globe and Mail that came out a few days ago that is worth a read: Pay your mortgage like it's 2007. You'll save a pile of money.
Something that the statistics don't show is the coming trends due to demographic changes which will impact the demand for different property types. A preference for bungalows vs split levels or villas vs multi level townhomes won't reflect in average statistics but the slow change is one to note. When renovating your home, especially for resale, these trends are worth considering. I recently saw a gorgeous bungalow. It was perfect for my clients until we reached the master ensuite. There was a raised tub and shower area which required 2 tiled steps to access the tub and separate shower. I think it was meant to provide easier access to the tub, but it was a deal breaker.
Notable numbers from CREB:
The strong demand for homes relative to the supply levels has caused some significant increases in the price of single family homes this year compared to 2011. As of October 2012, the benchmark price for a single family home was $433,300, an 8-per-cent increase over the previous year. While there has been significant recovery in Calgary home prices, typical unadjusted home prices have leveled off remaining relatively unchanged over the past 4 months, and remain below the highs recorded in 2007.
Condominium apartments recorded a benchmark price of $247,000 in October 2012, losing some ground over the previous month, but still higher than the previous year by 3 per cent. While on average condominium apartment prices have fallen more than risen since 2007, condominium prices this year have recovered to levels comparable to 2010.
After the first 10 months of the year condominium townhouse sales totaled 2,279, 16-per-cent higher than last year. The benchmark price for a townhouse in October was $279,000, a 3-per-cent improvement over October 2011.
Questions about the market or your future sale or purchase. As always, feel free to contact me.