September 3, 2015
Real Estate Market Update - Sept 3, 2015
The August Calgary real estate numbers are out and reflect the current economic climate. Signs are up longer than earlier this year with fewer reported sales than this time last year. The turnover, however, really all depends on price point and location. If you are looking for that great detached home under $500,000 it isn't a buyer's market.
As of right now there are 930 active detached homes in the city under $500,000. However 587 such homes have also sold in the last 30 days. That is seller territory. Now break it down by area and the numbers shift.
The apartment segment is seeing the largest number of available options. With both resale and new construction options out there it is a great time for a buyer to review their rent vs buy numbers. Just remember not all builders are created equal so get the right guidance before jumping forth and maybe have your lawyer read the paperwork.
With the election on the horizon and so much rhetoric out there that is more political than reality let us all pull out the crystal ball to predict where things will settle in the coming months. This is Calgary after all.
If you need detailed information to make an informed decision regarding your real estate needs just give me a call directly at 403 850 2446. I am happy to help.
August 12, 2015
Just Listed - 122 345 Rocky Vista Park NW. Original Owners!
Original owners. This warm and welcoming 2 bedroom /2 bath condo at the Pavillions of Rocky Ridge is within walking distance of Tuscany LRT. Exceptionally well cared for and clean, this unit is painted with neutral colors and recent upgrades include 6 ¼ inch plank floors throughout the entire unit except the laundry. Facing west the unit is on the main floor and overlooks the enclosed patio between the buildings. The balcony is inviting and sheltered from the elements. The property is fully accessible via ramps. The open floorplan allows for the master bedroom with 3 piece ensuite and walk in closet to the right and a spacious bedroom and 4 piece bathroom to the left of the living room, spacious eat in kitchen and in suite laundry. Amenities provides access to secure bike storage, underground parking, exercise room, games room, theatre, salon, tennis courts and more. Titled underground parking spot #236. Pets permitted within restrictions. Book your private showing today.
View all property details for 122 - 345 Rocky Vista Park NW in Rocky Ridge, Calgary.
August 11, 2015
Calgary Real Estate Market Update - August 12, 2015
Over the last few weeks the Calgary real estate market has hit its usual summer lull. While folks head on holiday and out to enjoy everything that's wonderful about an Alberta summer, the real estate market is continuing the seasonal trend in the background. While sales are down from last year so are new listings so that overall ratios remain balanced. The amount of inventory available for buyers is very dependent on the area of the city and price point. I have ample options to show some buyers others are waiting on new listings as there is little out there that matches their needs. Active list pricing is absolutely no indication of the current sales price reality so please do not use active listings as an evaluative tool in reviewing your own property.
Economic indicators, oil prices and the global uncertainty continues to be at top of mind and folks are making careful decisions. Buyers are running numbers and some have chosen to buy below their thresholds or taken other conservative action.
What I find very surprising in this type of uncertain market, is the number of sellers that make no efforts to show their property. Be it either very restrictive showing times, very long response times for showing requests or just plain unkept properties. I've shown dozens of homes priced from the $200,000 to the $1,000,000 range in the last couple of months and was really surprised how many homes didn't take care to address basic presentation issues:
1. Odours. It is hot. The odours from garbage, exercise gear and pets can get very strong. Do something about it.
2. Cleaning. This is showing 101. There's nothing like dirty laundry strewn all over a master suite to turn off a buyer. Especially when viewing homes at $800,000 and up. Really?
3. Maintenance. If you present a home for sale that has obviously not been maintained then buyers will look at the other dozen options open to them or expect a discount. If it doesn't come up at the offer it is sure to do so with inspection.
If you are in the market to sell your home then be prepared and work with a realtor that answers their phone. I'm not naming names, but one realtor took 3 days to answer our calls for information about a property. By the time they got back to us we had already moved forward on another home. We're not on island time here :)
As always, if you have any questions about the market, your home or a unique situation that needs some guidance, please give me a call. I'm happy to help. You can reach me directly at 403 850 2446 or firstname.lastname@example.org.
July 14, 2015
Just Listed - 3 Bedroom Townhouse at 51 - 3809 45 St SW Calgary
Enjoy the evening sun on your private back patio. This 3 bedroom townhouse has been upgraded, well cared for and it shows. Inside you will find an open living room, updated kitchen with granite counters and spacious eating nook all with warm laminate floors. The laundry is also on the main level. Upstairs are three bedrooms including a very spacious master bedroom and a 4 piece full bath with tiled tub surround. This complex is pet friendly and one of the few options that offer a private fenced yard and garden. This unit is on the west side of the complex looking out to the street beyond and not overlooking any other properties. The complex recently upgraded all windows, doors, stucco, siding and fencing. Walking distance to Westhill Shopping, transit and a short distance to Mt Royal University. Book your private showing today.
Full property details and photos for unit 51 at 3809 45 St SW, Calgary - Regent Gardens
June 29, 2015
Just Listed - 410 345 Rocky Vista Park NW - Amazing top floor unit in the Pavillions
Are you looking for that perfect 2 bedroom 2 bathroom condo to call home? The one on the top floor, with an open view and an even better one from the balcony? In a well run complex? Of course it has insuite laundry and a titled parking spot. Amenities include an exercise room, tennis courts, games room and more? Oh and you can walk to the LRT.
Original owners. This warm and bright top floor 2 bedroom, 2 bathroom unit at the Pavillions of Rocky Ridge has been well maintained and occupied by the original owners. Recent improvements include professional painting with designer colours, new carpet throughout and a new dishwasher. With an unobstructed view to the city, COP and more, the light flows into the upper windows of the vaulted living room with corner gas fireplace. Vaulted ceilings in the living room are only in the top floor units. The open floorplan makes best use of space and layout. The master bedroom and ensuite with standing shower are to the left, while the second bedroom, second 4 piece bath and laundry are to the right of the living room. Amenities provides access to secure bike storage, underground parking, exercise room, games room, theatre, salon, tennis courts and more. Amazing location within walking distance to the Tuscany LRT station. Titled parking included with the unit is just a few spots from the elevator doors #135.
FULL details, pricing and photos for unit 410 345 Rocky Vista Park NW in the Pavillions of Rocky Ridge, Calgary.
June 11, 2015
Just Listed - 105 1810 11 Ave SW
Located within a 2 minute walk of the Sunalta LRT station, this great 2 bedroom / 1 bath unit offers some great features. Located at the back of the building, this unit is quiet and has a large patio for you to enjoy. The patio looks out to a fenced greenspace open to just the lower units. With just a small office building beyond it is a great spot to relax and unwind. Inside, the kitchen is upgraded with stainless steel appliances and is open to the living area. A laundry/storage area with washer hookup are just by the front door. You can install your own washer/dryer combo or use the laundry facilities across the hall. The two bedrooms are a good size and the main bedroom also has a large walk in closet. The unit provides one underground parking stall as well as access to secure bike storage. Enjoy the amenities of Sunalta and the easy downtown commute. Book your showing today.
View all property details and photos for 105 - 1810 11 Ave SW, Calgary.
June 5, 2015
Calgary Real Estate Market Update - June 5, 2015
The official word on the street is that the Calgary real estate market has moved toward balanced market conditions. What does that mean? Overall, the number of available listings and monthly sales are showing an overall balance between sellers and buyers. Well presented, well priced homes will sell for close to list price in a reasonable amount of time.
There is however a big difference based on location and price category. The upcoming inventory of new apartment construction seems to be a factor in that segment with a continued slowdown vs other property types. The luxury market also has a larger inventory base.
All that being said, it is really hard to find a good affordable home for folks. Things in the lower price point move fast.
The speculation about our market is rather insane. The thing that strikes me the most is that some folks seem to forget that residential real estate means homes. You can't just sell your house and wait out the market without somewhere else to be. Our rental market is very strong and rental rates are often higher than mortgage rates. Your choice is to buy, rent or couch surf.
If you are considering a move and need some real information regarding the value and market for your home just give me a call. I'm happy to help.
May 5, 2015
Just Listed - 64 New Brighton Drive SE
Original owners. Pride of ownership evident in this well designed Morrison built home in New Brighton. Located less than a block away from the New Brighton Elementary school under construction and local community recreation facilities this 2 storey home is move in ready with fresh paint, new carpets and new hot water tank. The main floor provides an open concept living room, dining room and spacious kitchen with stainless steel appliances, granite counters and maple cabinets. Beautiful hardwood floors run the main level. A powder room and laundry are tucked away on the main level. Up the staircase to the left is a large and bright bonus room. The spacious master bedroom is complete with walk in closet and 4 piece ensuite with separate tub and shower. Two additional bedrooms and a full bath complete the upper level. The basement is unfinished with roughed-in bath and great open layout. The large back deck and yard are perfect for outdoor entertaining. Double attached garage.
May 5, 2015
Calgary Real Estate Market Update May 5 2015
Somewhere between the big economic headlines, the election and a playoff run, our real estate market seems to be taking a bit of a turn though not sure who is noticing YET.
For whatever reason, our inventory pushed up hard at the start of the year, but now new listings are coming to market at a slower pace than expected seasonally. According to CREB, After the fifth consecutive monthly benchmark price decline in Calgary, the number of new home listings eased to 3,064 units in April, a decrease of 18 per cent over the previous year. The interesting part starts happening when you slice and dice numbers to look at location and price point.
For example. There are currently 222 active detached homes under $500,000 in SE Calgary (Zone D). Sound like a lot? Not much really especially when 190 such homes sold in the last 30 days. That is only 1.2 months of inventory.
If you are looking at a higher price point the world looks different. There are 153 active detached homes on market in SE Calgary right now. 20 such homes have sold in the last 30 days. Here we see 7.65 months of inventory.
A big number I personally watch is the ratio of new listing/sale. It is a strong indicator of what is happening in the market outside of general sales numbers. We have been slowly moving from a New Listings/Sale ratio in the 40% range to 50% to now in the mid 60's. The trend indicates we are moving back towards a balanced market (and even seller's market in some pockets). Where our inventory was 100% higher than last year it is now 46% higher when looking at the total Calgary Residential Numbers for April 2015.
This weekend one of my listings went under contract, another sold firm yesterday and I just listing another. The cycle continues. So if you are waiting for a bottom..... work with someone who ensures you have the information to decide for yourself where that magic mark may be.
All CREB Statistics.
April 24, 2015
Just Listed 336 Ascot Circle SW
Beautifully finished 3 bedroom, 2 1/2 bath end unit townhouse with double garage located in the Enclave of Castle Keep in sought after Aspen Woods. This end unit provides many additional side windows so the entire property is light and open. Immaculately maintained it is in as-new condition. The SW facing patio with gas BBQ line is just off the dining room which is open to the kitchen and family room. The front windows all look out to the tree grove and greenspace. Upgrades include quartz counters, stainless steel appliances and large centre island with raised bar. Hardwood floors run the length of the main level. Upstairs are 3 bedrooms including a master bedroom with walk in closet and 3 piece bath with extra- large, standing shower. The laundry is located on the upper level. Walking distance to Webber Academy and very close to Aspen Landing and the LRT. Showings by appointment only.
View all property details and photos for 336 Ascot Circle SW Calgary.
April 6, 2015
Calgary Real Estate Market Update - April 6, 2015
It is just after the Easter holiday. Most folks with children will be returning to normal routines after the spring school breaks. There's a touch of snow on the ground, but it should be gone in a couple of days, and with spring comes our seasonally busiest time of the year in Calgary's real estate market.
On Saturday I was showing a client homes in NW Calgary. Of the 8 we wished to view, 4 were under contract. Price range $400,000 - $440,000. As sellers now most often keep their listings active during the condition period, there is lag time before the status is posted on a property. Very few conditionally sold (CS) signs are now posted so we most often only see the property Active and then Sold when looking at the sign in the front yard. A Realtor can determine through their online systems the actual status of the property in question. Has this aspect changed part of your perception of the market? I always want my clients to have the best available information to help them make informed decisions.
I watch numbers such as rates of new listings (which are now lower than last year for the recent few weeks), sales to list ratios, list price to sale price ratios, and some other interesting statistics / market trends. There's a whole lot more to talk about than the average price posted on the evening news. If you want to chat about your plans I'm happy to share my opinion. It does really matter on location, condition, property type, price range and who you engage to help you with the process. Homeowners and investors make different choices. We all need a home and need to live somewhere. Whether renting or buying, do your math and I'm here if you have any questions.
Here are some interesting tidbits that could save you some money if you are planning a purchase this spring.
On July 1 the land title fees are increasing as part of the new Alberta budget. Close on your home before June 15 to ensure your registration avoid the July 1 fee increase. It will be the registration date, not your closing date, which will determine the fee you pay so closing by mid-June provides roughly 2 weeks for the registration of the property to transfer.
CMHC is increasing mortgage insurance fees for those with less than a 10% downpayment effective June 1. For the average Canadian homeowner the higher premium will result in an increase of approximately $5 to their monthly mortgage payment. You can avoid the premium increase by getting your preapproval in place before the deadline.
For all your real estate needs or questions I'm here to help. Please contact me at email@example.com
April 5, 2015
Just Listed - 27 Nolanfield Heights NW Calgary
This move in ready home in Nolan Hill is walking distance to the parks and new retail under development. The Trico Homes Delbridge II offers an open plan layout across the entire main level. The living room flows to a large dining area and then to the large kitchen with stainless steel appliances, quartz countertops, dark maple cabinets and large island which looks out to the main level. This is a great entertaining space to host friends and family. Large windows, hardwood floors and stone work around the gas fireplace add to the appeal. Step out to the south facing deck complete with stairs to the backyard. The main floor also offers laundry, powder room and a spacious entry. Upstairs provides a bright master bedroom with 4 piece ensuite with separate tub and shower as well as a walk-in closet. A full bath and two additional bedrooms complete the upper level. The basement is unfinished with large windows and roughed-in bath. Double rear gravel parking pad with ample room for a garage.
Property details, photos and floorplan details for 27 Nolanfield Heights NW Calgary.
April 2, 2015
Just Listed - 4205 18 St SW in Altadore
Stunning detached home by Stephens Fine Homes located on a quiet tree lined street in Altadore. Excellent central location close to downtown, parks, schools, shops and Marda Loop. This 4 bedroom, 3 1/2 bath home is exceptionally finished and has a sought after west backyard for those late summer evenings. Design details include an open riser curved staircase, wide plank hand scraped walnut hardwood floors, extensive lighting details, coffered ceilings in the dining area and living room, 8 ft doors, 9 ft ceilings on all levels, upgraded appliance package, granite counters, painted maple shaker cabinets, staircase skylight, upper level laundry with built-ins, double sided stone fireplace in the master as well as separate his/hers closets. Basement includes a large rec room with wet bar, bedroom and full bath. The curb appeal shines with custom stonework, aggregate walks, deck with glass rail and landscaping. Showings by appointment only. Floorplans and upgrade sheet available.
View all property details, photos, floorplans and upgrade details for 4205 18 St SW Calgary.
March 13, 2015
Just Listed / Open House this Sunday - 111 Cougar Plateau Circle SW
Just listed today. This stunning home is a must see. Stop by our Open House Sun Mar 15 2-4 pm
Custom executive home in the Promontory, Cougar Ridge minutes to COP, downtown, playgrounds, private schools, Westside and more. Fully finished on all levels this home is beautifully designed with elements such as cathedral ceilings in the foyer and front office, coffered ceiling in the living room, custom kitchen cabinetry, high end appliances, walk through pantry to the mud room and custom built-ins throughout. The main level begins at the office and then extends to an open floor plan beginning with a beautiful dining room open to the living room, kitchen and breakfast nook beyond. Upstairs is a large master suite with sitting area, 5 piece spa ensuite and a huge walk-in closet. Two spacious bedrooms also with walk in closets, laundry, 5 piece main bath and a huge bright bonus room with fireplace and door complete the upper level. The basement provides a 4th bedroom, full bath, large recreation/media room with bar, craft room and ample storage. West backyard. Air conditioned.
Full property details, photos and more for 111 Cougar Plateau Circle SW Calgary
March 10, 2015
Open House Saturday March 14 2-4 pm
You are invited to 767 Schooner Cove NW on Saturday March 14 between 2-4 pm to preview this great family home.
Located in the established community of Scenic Acres close to schools, amenities, and transit (LRT) this warm family home is located on a cul-de-sac and offers a southwest backyard exposure perfect for an evening on the deck. The upper level provides 4 spacious bedrooms including a master bedroom and 4 piece ensuite with separate shower and soaker tub. Another full bath is also upstairs. The main level includes a large front room which can be used as a dining and living room. The large kitchen is open to the dining nook and family room. The window in the kitchen overlooks the spacious backyard, two tier deck and garden. The laundry and powder room are tucked away on the main level. The fully finished basement provides an open recreation room and games room perfect for a pool table and movie central. The basement bedroom is currently used as an office but makes a great guest bedroom. The basement bathroom is roughed in for future development. Double attached garage.
Full property details, photos and video for 767 Schooner Cove NW, Calgary.
March 7, 2015
New Listing - 767 Schooner Cove NW
Located in the established community of Scenic Acres close to schools, amenities, and transit (LRT) this warm family home is located on a cul-de-sac and offers a southwest backyard exposure perfect for an evening on the deck. The upper level provides 4 spacious bedrooms including a master bedroom and 4 piece ensuite with separate shower and soaker tub. Another full bath is also upstairs. The main level includes a large front room which can be used as a dining and living room. The large kitchen is open to the dining nook and family room. The window in the kitchen overlooks the spacious backyard, two tier deck and garden. The laundry and powder room are tucked away on the main level. The fully finished basement provides an open recreation room and games room perfect for a pool table and movie central. The basement bedroom is currently used as an office but makes a great guest bedroom. The basement bathroom is roughed in for future development. Central air conditioning included. Double attached garage.
All property details and photos for 767 Schooner Cove NW Calgary
March 3, 2015
Website update March 5-10
The Calgary Real Estate Board is migrating the base systems that run our MLS system on March 10. As such I will be updating all the searches and details on this website over the coming days so you continue to receive all the details you need. Should you encounter any issues please contact me at firstname.lastname@example.org. Cheers.
March 3, 2015
Calgary Real Estate Market Update March 3 2015
The official sales numbers were posted by CREB this morning and it is not surprising to see the current trend continue from last month. Though, I must say, there has been a noticeable increase in activity in the latter part of February. Official sales are down 35% from the same time last year with a significant rise in inventory.
The rate of new listings is coming down so we will see if the initial surge was based on those wanting to list ahead of a possible downturn. With many people forecasting and commenting on a myriad of future paths I won't contribute to the speculation though I personally look to the 5 year trends as much as comparisons to last year's record numbers.
What I am doing is ensuring all of my clients are aware of the specific details regarding the market trends, listing inventory and sales information for the particular property type, pricing and area of the city they are reviewing. The numbers and strategy differ widely based on these factors. While some investors seem to be taking a watch and see attitude, folks still need somewhere to call home so consideration between the buy vs rent options are needed.
We are generally in a balanced market potentially turning towards a buyer's market in some specific segments.
Below is an example of how general numbers are misleading. It really depends on what, where, how much and in what condition. Get the right information before you leap to conclusions.
Example: Detached property in Calgary.
Active at time of writing: 2947
Sales in the Last 30 days: 788
Months of Inventory Snapshot: 3.74
Detached Property in Calgary Under $600,000
Active at time of writing: 1644
Sales in the Last 30 days: 634
Months of Inventory Snapshot: 2.59
Detached Property in Calgary Over $600,000
Active at time of writing: 1309
Sales in the Last 30 days: 156
Months of Inventory Snapshot: 8.39
3-4 Months of Inventory is generally considered a Balanced Market: The number of homes on the market is equal to the number of buyers wanting to buy.
Homes sell within a reasonable amount of time. Prices are generally stable.
Buyers have many options however well priced homes will attract interest. Equal negotiating power between buyers and sellers.
Over 4 Months of Inventory is generally considered a Buyer's Market: The supply of homes on the market exceeds demand.
High inventory of homes. Few buyers compared to available inventory. Homes remain on the market longer. Prices tend to decline in this market.
Your home may take longer to sell. You will have to be priced in the market to be noticed. Less negotiating power during a sale.
As always, if you have questions about the market, your home value or wish to meet to discuss your real estate needs, I'm always happy to help. Call me direct at 403 850 2446.
February 26, 2015
Development around Canada Olympic Park (COP) and the Trans-Canada Corridor
In the coming years the lands around Canada Olympic Park (Paskapoo Slopes) and the Trans-Canada Corridor are going to change dramatically.
First, transportation improvements are huge.
By the summary of 2017 the Bowfort Rd NW Interchange should be complete.
By 2020 or 2021 the final portion of the ring road connecting the west side of the city should also be at or near completion.
We are going to need the transportation improvements if all of the proposed developments go forward.
On the north side of the TransCanada proposals include the proposed community of Haskayne which runs north of the Bow River heading west from the old quarry. This section is in earlier stages than the rest. The next open house is March 3, 2015.
On the east side of the Ring Road (Stoney Trail) are two more proposed communities on the north side of the TransCanada called Parkside and GreenBriar.
On the south side of the TransCanada are several proposed sites. Running from west of COP is Trinity Hills which is proposing a hotel, residential townhouses and commercial office space. This development is facing some local opposition.The Trinity Hills proposal will go before the Calgary Planning Commission in May or June, with a public hearing at City Council expected sometime in July.
West of COP the proposed developments include Bow Valley Crossing, Shape and then Crestmost Phase 4 on the west side of Crestmont.
An overview of most of the proposals are included in the Calgary West Trans-Canada Corridor Study.
As all the projects are in the initial design phases it is hard to detail what will be built or when, but definitely an area to watch.
February 17, 2015
How to buy the most rentable property. Tips for investors.
The Calgary rental market vacancy rate remains very low. Even with a slight increase in the fall of 2014, it is hard to find housing and rental rates remain high.
Given the environment, investors see opportunity. But what's the best purchase to ensure long term growth and income? The safest best is the property that will always rent so chose wisely and consider the following:
Every city has preferred neighbourhoods and zones. The rental market is usually the first stop for newcomers to our city so choosing neighbourhoods that are safe, have great access to transportation and amenities is key. Understand the type of renters attracted to various areas you are considering.
2. Think Winter
Calgary winters can be tough, especially for newcomers that are not used to shoveling snow. Properties that offer in suite laundry, secure parking are obvious positive winter features. In addition look for properties that provide good accessible access roads for cars or transit and are in close proximity to Calgary's excellent multi-modal pathway network. If you are looking at condos, then consider how well a complex is maintained and what their reserve fund is.
Some buyers may not want to purchase a ground floor condo unit especially in more densely populated areas for concerns regarding security. You'll easily see the trend when comparing the pricing of the same units in a building that are below or at ground vs those above. If you want to expand your pool of renters, purchase a property that is perceived to be more secure. For condos that means units on the 2nd or 3rd floor (or above), security doors and well lit entrances, secure parkades and well lit hallways. For single family homes, the feeling of security is based on location, layout, solid construction, good doors and locks. If you don't feel safe when viewing a property then neither will your tenants.
4. Interior details
A beautifully appointed home is going to appeal to more renters, but that comes with cost so the opportunity is in finding the right balance of home features, layout, finishes and amenities. Consider the purchase price and rental price range you are considering and ensure your potential home meets the general expectations of that price point. As the price increases folks expect more amenities, larger space, upgraded appliances, views, decks, etc. Some flooring material wears better and will require less long term maintenance. State of repair and cleanliness are key when showing a rental property but may not be deciding factors in purchasing one. Elbow grease goes a long way to maximizing your return on investment.
5. Know your numbers
What is the total cost of owning and managing the property type you are considering? It is not just about the simple equation of rent - mortgage = income. Factor in property taxes, utilities, condo fees, and maintenance needs. Will you include utilities in the total rental cost or expect tenants to pay their own? Some older homes can see hundreds more in utility costs than newer or renovated home.
6. Who is your target renter?
If you have the time to run a more engaged rental business, you may wish to consider a furnished home that could cater to shorter term leases (3-6) months for corporate or temporary residences for those working or transitioning to our city. There is more work involved, but in return, higher rental margins. Understand the local market and rental needs and decide on your best plan before purchase.
I often get calls from investors looking for a great deal, but investment properties are about so much more than low initial capital cost. The most important number are your monthly revenue, expenses, risk projections and considerations for long term appreciation. The most successful landlords I have worked with are those that invest with a long term vision, mitigate risk, and work closely with a Realtor that gives them the numbers they need to make the best decision.
When you are ready to invest just give me a call to get started.
Monika Furtado, 403 850 2446, email@example.com