Drop by and say hello this Sunday 2-4pm, May 28 2011, at 6226 Sierra Morena Blvd SW.
 
This large bungalow with a fully finished walkout basement is walking distance to Westhills and in an excellent location to take advantage of the amenities of the area.
 
This great home provides over 2500 sq ft of living space across both levels with 4 bedrooms and 3 baths. As you enter you will notice the high vaulted ceilings of the front living room  and dining room in this freshly painted home.  Large windows fill the rooms with natural light. The dark stained oak kitchen with plenty of cabinets opens onto the breakfast nook and family room. Patio doors take you out to the very large deck with roofto p mountain views and stairs down to the backyard with mature landscaping. The large master suite includes an ensuite with standing shower and a therapeutic bubble bath. A second bedroom, full bath, laundry and great storage complete the main level. The fu lly finished walkout basement with dark hardwood flooring, modern fixtures and an excellent layout with 2 additional bedrooms and full bath would be an excellent nanny or mother-in-law suite. Call your Realtor to book your showing today.
 
See you on Sunday.
 
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As work continues on the West LRT project, Calgary Transit has posted open house dates to inform folks about future bus services.
 
"Calgary Transit invites you to attend a public information session to review proposed bus route plans to serve Southwest Calgary when the West LRT opens in 2012. Residents are welcome to attend any open house session. Calgary Transit staff with be available to answer questions." - Full details and open house dates
 
The West LRT website also provides great information regarding the new LRT line, construction and traffic updates. Check out some of the time lapse videos of the LRT construction (further down on the media page). They are pretty cool and impressive even for non-engineering folks.
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Interested in the popular community of Tuscany?

The Tuscany Community Profile is now posted with great local information, detailed property searches, school information and more.
 
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The double-up advantage allows you to make an extra payment usually equal to your normal monthly payment. Depending on your financial institution, you can make anywhere from 1 to 12 double up payments annually.

 
Each double-up payment is applied directly to the principle on your mortgage. This means you save thousands each and every time you make one of these double-up payments. Even one double-up payment per year can make a difference.
 
Example:

Based on a $100,000 mortgage at 6.00% interest for a 5-year term amortized over 25 years.
Your montly payment would be $639.81.
You would pay $28,225.07 in interest over the first 5 years.
You would pay $10,163.50 in principle over the same 5 years.
 

Implementing Double-Up Payment
If you make one double-up payment each year during the average 5 year term you would save the following (monthly payments remain the same):
Total Interest padi during the 5-year term: $27,810.89
Total Principle paid during the 5-year term: $13,777.26
Principle Balance left owing after 5 years: $86,222,74

 

What You will Save:
If you paid one extra double-up payment each year for 5 years you would save in the following ways:
You would save $414.18 in interest
You would pay the principle down by $3613.73
If you continued this process every year you would save 21 months worth of payments; that's almost 2 year's worth of mortgage payments. At $639.81 per mortgage payment that means a savings of $15,355,44 (based on 6.00% interest over the full term.)

It can be hard for folks to save an entire mortgage payment to put down every year. If you can, consider this option to save on the long term cost of your mortgage. If not, consider some of the other tips such as rounding up your payments or switching to biweekly rather than monthly payments.
 

Courtesy of Daryl Marsden, President, Maximum Mortgages

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I personally wonder how much the weather dampened enthusiasm in April as many folks opted to seek a sun filled week away or hide inside rather than search for a new home. April was a slower month in 2011 than 2010 both in sales and new listings coming on market. Although the numbers are less, the balance of supply and demand has resulted in lower inventory levels and moderate growth in average prices. As prices are expected to slowly rise this year, we will see how buyers react to the opportunities of the spring market.
 
This month I posted some information about shopping for a mortgage. It is worth the read. As well, I posted some great resources for getting around calgary on transit and bikepaths.
 
Some notable numbers from the CREB Stats Package:
“We are seeing improvements in the sale of homes in the higher price points.  Homes above $700,000 are selling within an average of 41 days. This is consistent with pre-recession levels,” says Stante. 
 
The average price of single family homes in the City of Calgary in April 2011 was $479,575, a 4 per cent increase from April 2010 levels. Meanwhile, the median price of $420,000 rose by 1 per cent over levels recorded in April 2010.  The price differential comes as a result of high end home sales. In April 2011, two single family homes were sold in the price range of $3 million to $4 million, skewing up the monthly average price.
 
“Condominium listings declined 27 per cent in April, helping to offset a 16 per cent decrease in year-over-year sales. The decline in listings is significant and has helped place downward pressure on inventory levels. This will improve stability in condominiums and begin to move it towards a more balanced market,” says Stante.
 
Year-to-date condo sales were 1,883, a 13 per cent decline compared to the first four months of 2010.  The condominium average price for the month of April 2011 was $289,158, similar to the previous year when condominiums sold for an average of $289,588.  The median price for condominiums in the month of April 2011 was $260,000, down 3 per cent compared to the same time last year. 
 
I listed some great properties in the last couple of weeks. Check out details on my listing page.
 
As always, if you have any questions as you prepare to buy or sell your home, give me a call or send me an email anytime.
 
CREB Real Estate Statistics Package
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