February 13, 2018
Updated Development Plan for Arbour Lake Remaining Residential Land
Hopewell is currently in the planning phase to develop the remaining lands along Arbour Lake Rd into a new residential area. An updated plan was recently submitted to the City of Calgary for consideration. The "Aurica Hawkwood' homestead is named after the long time previous resident of the land.
Curious about what is being built?
Fully built out the area is expected to provide approximately 890 units and be home to 2200 residents.
Information by the Developer - Hopewell's Arbour Lake Development
City of Calgary - Arbour Lake Engage Information
February 13, 2018
Resale and new construction - the missing Real Estate statistics
As we move into 2018 and the spring market home owners looks to statistics and numbers to evaluate the value of their home. We look at various numbers such as list to sale ratios, absorption rates and comparable sales on MLS. These numbers are very valuable and provide insight into the activity and demand in a particular areas of the city.
However, we must also look to numbers outside of the MLS system.
Especially in new communities where resale homes are competing with new construction, we have to look beyond the MLS. New home sales data is generally not available to the public.
Last week the OWL, written by the ATB Financial's Economics + Research Team, published an article titled 'More Evidence of a Residential Construction Slowdown'.
In Relation to Calgary specifically the article stated:
That indicator is the number of completed, but unabsorbed houses in our province. In Calgary, 635 new homes sat vacant with no binding agreement made to buy or sell at the end of last year. As of December, vacant housing in Calgary was 19 per cent higher than during the same month a year earlier. In fact, December’s total reached the second highest level of vacant housing of 2017 since December 2011. What’s more is that inventory rose at an average rate of 22 per cent last year.
When buying and selling homes in areas that compete with new home construction, consider all competitive options in your review. A visit to the local showhomes never hurts to get a better understanding of the options buyers have in your price category.
February 7, 2018
Please check and clear your furnace vents of snow and ice.
A recent facebook post by one of Tuscany's residents in our community group reminded me this morning to take a walk to the side of my house.
Most of the newer homes in the area (and many other areas of Calgary) have high efficiency furnaces that vent to the side of the house. With the amount of snow that we are experiencing and the help of wind, shovelled snow and other obstacles, snow and ice can accumulate and block your exhuast pipes.
Please take the time to check your exhaust pipes to ensure they remain clear of snow.
If they are blocked your furnace may not run property and worse, you may have carbon monoxide enter your home rather than be vented out.
Installing carbon monoxide detectors in your home (house, townhouse, apartment) can save your life. They are readily available at your local hardware store with installing for some being just plugging it into an outlet.
February 7, 2018
Your home and your resilience. How they work together.
Most of us strive to be happy, go-lucky, energetic folks that enjoy what life has to offer. Stuff happens, life changes. Resilience kicks in and off we go again.
But every once in a while things wear us down. It is death by a million cuts. I think that's how the quote goes.
One big influence on how a person copes and thrives in life is their resilience, the ability to recover quickly from difficulty.
In terms of real estate, I've encountered two types of resilience. One is the market and how it adjusts but that's not the topic here.
I'm talking about how your house, your home, either works for you and is set up to help you enjoy your day to day or annoys you and wears you down with the daily challenges. A home that doesn't work can wear down a person's overall resilience.
What do these look like?
Not going out to an event because it is too hard to get home.
Your home is located in the wrong location or area of the city for you and your family. The extra travel, school accommodations and daily grind can wear away at your nerves. Job changes, school plans, bus routes. They are all things out of our control.
The layout that doesn't work for a growing family and the frantic run to that crazy, annoying two steps your little one is determined to be at whenever you turn your back.
Sounds you can't shut off.
The small entry where 3 of you plus 2 dogs are trying to get in.
Taking the time to figure out what you really need is one of the best steps in searching for a new house. Tell me what you want and tell me what is not working.
I love clients that can tell me want they want or need in a house or give me details such as it has to be within 10 min of a bus stop or within a school area or far away from these things. Tell me you want walking distance to both a middle school and elementary. Tell me you have to have a walkout with either stairs down from the upper deck or room for stairs. Tell me you hate bonus rooms or love bonus rooms. With details come realistic conversations about what the market allows within a budget and what is absolutely possible. I have clients that will only purchase a home with a specific lot orientation. That's awesome. I will narrow down the list, show you just the ones that make sense and make the best use of your time to find your new house.
With some clients we have previewed condo survey plans to decide where in the building they want to live. We watch, wait, map it out and pounce. Yes, we got that top floor penthouse within 6 hours on market before others noticed it was on market and got the offer accepted a couple hours before the next one came in. And they didn't know we were waiting so we got a good price. Yup.
Resilience. Life and the daily grind can be hard. Your home ideally is a place where you recharge and wake up feeling stronger than the night before.
February 7, 2018
Calgary Snow Routes - Living in a Winter City
Calgary is a winter city. There's not denying that we get a bit of snow and chilly temperatures in the winter months. When buying a home in August we sometimes forget about the daily challenges that arise when winter arrives.
When purchasing a home one of the things to consider is whether the property is on a snow route.
A snow route is a priority route, most often a bus route also, that is regularly plowed and sometimes requires owners to remove any street side parked cars after a snow storm for snowclearing during a Snow Route Parking Ban.
All residential streets are now plowed and cleared in Calgary so being on a snow route has it's advantages since the road is a priority for plowing and snow removal. Alternatively, it can be pretty tough to get out of some residential areas not on a snow route and down a winding hill in the winter if you don't have an appropriate vehicle.
To find out everything and anything about snow removal, snow route maps, maps of where the plows and sanders are and a whole lot more, the City of Calgary has everything posted on www.calgary.ca/snow
Want me to find the right location for you? Give me a call. I helped find a family a home that met their criteria and within 5 min walk to the bus stop. Life matters.
Map Snapshot Feb 7, 2018
January 30, 2018
Tips for buying your first home in Calgary
You have decided to become a homeowner. Congratulations! Now what?
Although you really want to just start looking at homes there are a few tips to get you started before you get in the car.
1. Figure out your budget. Home ownership costs include the home, but also property taxes, condo fees (if applicable), maintenance and utilities. Have a good look at how much of your monthly income you WANT to spend.
2. Talk to a lender or mortgage broker and get pre-approved. Find out how much the banks will APPROVE you to borrow.
1 and 2 can sometimes be different and figuring out a number that makes sense for you is Priority 1. It is so easy to move up in price, but understanding your numbers before you head out keeps things in perspective.
3. Find a Realtor to work with to help explain the market and your options. Go through the process of talking about how long you plan on staying in this home. Most families move multiple times as needs change so it is good to talk it out. If you are buying a condo, learn about condos and how they are managed.
4. Start looking at properties. Keep an open mind. Pink paint is easy to change and so is carpet. And those prices on HGTV for ripping down walls and rebuilding kitchens for $10,000 are not Calgary pricing. If you are considering renovations, lets get you some real local numbers. The best advice I can give is choose community/location first (within your budget) and go from there. The shiny of some items can wear off quickly if your home isn't located where you need to make your day to day more enjoyable.
5. Stay informed and ask questions throughout the process. In my experience, the more informed and prepared my clients are the more comfortable they are with asking questions and making decisions because they know what to expect. Utilize the experience of your Realtor, inspector, condo document review company and lawyer to help you close on your first home purchase.
As always, contact me anytime with your questions. Whether you are ready to start looking today or at step 1, I'm happy to assist to ensure you have everything you need to make buying your first home a great experience.
January 10, 2018
Should you consider a pre-sale home inspection?
An item to consider when preparing your home for sale is a pre-sale home inspection.
Especially in a market where buyer's have the advantage, it can be difficult for sellers when an inspection deficiency is discovered. I often recommend a pre-sale home inspection for older properties. The pre-sale inspection can be a whole home inspection or a targeted inspection such as a roof report.
If you are budgeting for some repairs and improvements, the inspection can help you target your efforts.
Should the home inspection show no major issues, it can be provided to prospective buyers as part of the pre-review process which could potentially help the sale process.
Should issues arise, you can address them BEFORE you have an offer on the table or else give you time to get quotes for repairs that can be provided to prospective buyers.
Review your appliances. The sale documents currently include the following detail: "The seller represents and warrants that on Completion Day, the property will be in substantially the same condition as when this contract was accepted and the attached and unattached goods will be in normal working order."
Arrange for your furnace to be serviced by a qualified professional.
Gather together the warranty information for your home and appliances including the roof, furnace and hot water tank. If items remain under transferrable warranty to the new buyer, the additional warranty may be percieved positively by a buyer.
First time home buyers often do not have extra funds for repairs and may not have knowledge about what is required to repair various issues. Depending on your target buyer, a small investment in repairs may reduce time on market and result in a higher sale price than the cost of the repairs.
If you are planning to sell your home and wish to meet for a pre-sale consultation just give me a call at 403 850 2446. I am happy to help.
December 21, 2017
Do you know about the City of Calgary Main Streets Program? Land Use Changes Coming.
The City of Calgary has been working on the Main Streets Program which initiates a large number of zoning changes across the city along Calgary's thriving main streets.
If you are considering a purchase for yourself in these areas or for investment / future redevelopment, this is something you need to review. Some of the areas are at initial review and have undergone some community feedback, data collection and analysis. Even if no change occurs these documents provide more detail into these areas as they currently exist.
Others have available future planning details. An example is Bowness Road and 16 Ave in Montgomery. Another is 17 Ave from Crowchild Trail to 37 St SW. These areas show detailed proposed rezoning maps and future density plans.
Some of this information has been out for some time, but here all the information is together in one place.
Should you be considering a purchase please do give me a call to set up a buyer's consultation. I would be happy to help you find your next home.
December 20, 2017
Just Listed - 142 Arbour Crest Circle NW Calgary
Located on a quiet street within walking distance to both Arbour Lake School and St Ambrose School, this bright and cheerful home offers a popular floorplan. The classic white eat-in kitchen is huge and a great place for family and friends to gather. With large windows facing west, the room is flooded with natural light and overlooks the landscaped garden. At the front of the house the spacious living room welcomes the morning sun and looks out to the front porch and tree lined street. A powder room is also on the main level. 3 bedrooms and 2 baths are upstairs including the generous master bedroom with ensuite. The basement is finished with a 4th bedroom, full bath with shower, rec room and laundry. The backyard is landscaped with tiered deck and patios surrounded by gardens and walkway to the detached oversized double garage. Easy transit access to the LRT, Crowfoot Shopping and Robert Thirsk High School. Arbour Lake is the NW Lake Community with private access to lake activities and community events.
View all property details and photos for 142 Arbour Crest Circle NW Calgary.
December 5, 2017
What is Radon and how does Radon affect your sale or purchase of a home in Calgary?
In recent years there has been more information available about Radon and recent changes to the Alberta Building Code regarding Radon have brought Radon mitigation to our minds when considering a home purchase. If you are looking at newly constructed homes you may have even noticed the mitigation rough-ins in the basements.
What is Radon?
Radon is a naturally occurring radioactive gas in the soil produced by the breakdown of uranium in soil. It is colourless, odourless and tasteless. If radon accumulates in a home it can pose a serious health risk. Radon is a leading environmental cause of lung cancer.
Radon can enter a home via cracks or openings in the basement envelope and can vary house to house. Due to newer air tight construction, it is important to consider Radon.
How do you Test for Radon?
Radon can be tested by a professional or via an at-home kit. Health Canada recommends a minimum 3 month test preferably in the fall or winter (October to April) months for the best accuracy. The cost around $50 plus shipping from the companies I have looked at.
Changes in the Alberta Building Code
As of Jan 1, 2015 home construction has changed to mitigate the risks of Radon in a home. Should you be purchasing new construction, ask your builder about the construction changes, any testing done and mitigation options.
High Radon levels and the Sale/Purchase of a Home
Due to the testing length, a test for radon isn't a test that can be completed during the typical condition period for the purchase of a home. High radon levels can be considered a material latent defect to be disclosed to buyers if the seller is aware of the issue and the issue has not been mitigated. Should you know of high levels of Radon in your home please consult a lawyer prior to listing your home for sale.
RECA Article: I've recently started hearing reports about radon in Alberta homes. If I’m buying a home in Alberta, is it something I should be concerned about?
Cross Canada Survey of Radon Concentration in Homes-Final Report
Radon Reduction Guide for Canadians
December 5, 2017
Toy Angels - Lets break the donation record
Help us break last year's record and help CIR REALTY, the Salvation Army and Kiss 95.9 ensure that every child has a present to open this Christmas. Donations of new, unwrapped presents are eagerly accepted at all CIR REALTY offices.
Thank you and may you have a very wonderful Christmas this holiday season.
November 28, 2017
The Fall 2017 CMHC Rental Market Report is out
The fall 2017 CMHC Rental Market Report for Calgary CMA was released this morning. Of all the reports and media noise out there, this is one detailed report to review every time it is released.
After increasing for three consecutive years, the apartment vacancy rate in the Calgary CMA declined in 2017.
The rise in the number of units added to the purpose-built rental market universe was the largest increase since 1994.
Rents on a same-sample basis declined slightly from the previous year.
Those are some positive patterns. Even with the increase in inventory the local vacancy rate went down. Couple that with new mortgage rules that may require folks to rent rather than buy in the coming year and some opportunities begin to take shape.
Take care to review the detailed charts. The variation in turnover rates, average rents, rent averages based on construction year and other details are amazing detailed information available to potential investors.
November 22, 2017
New Home Warranty - Top 5 Things to Consider
When purchasing a newly constructed home in Alberta, many buyers are comforted to know that as of Feb 2014, it is required that home buyers are provided a new home warranty for their home. While some base requirements between the programs are the same, there are differences in the various programs and some details that all buyers should ask when reviewing the warranty.
1. Which warranty program does the builder offer? There are numerous options to a builder with a difference in coverage to the buyer based on the warranty provider. Each property can be looked up in the registry to determine the builder and warranty provider. Not all programs/providers offer the same coverage or guarantees.
2. What is the commencement date of coverage? This can be earlier than your move in date if occupancy was granted prior. This information is available from the warranty provider. Should you be purchasing a constructed home or spec home the warranty period may have started significantly earlier than your possession date.
3. What is covered and what is not covered? Review the policy details to ensure you understand what is covered by the program and for the duration of time. General guidelines include:
1 year - This takes care of finishes throughout the home, including any defects in flooring, paint or trim.
2 year - This primarily covers defects in labour and materials related to heating, plumbing and electrical systems
5 year - Building envelope means the exterior shell of the home, including the roof and walls. Two additional years of coverage are available.
10 year - This covers the key structural components of your home, including its frame and foundation.
It is highly recommended that homeowners have their homes inspected by an independent inspector at possession and before some of these critical dates to ensure they don't miss deadlines for submitting claims.
4. Are there any financial limitations on coverage and what is the claims process?
In a single-family home, townhome, row home or duplex unit, the warranty will cover the purchase price of the home to a maximum of $265,000. Any repair costs in excess of $265,000 will not be covered.
For a multi-family residential unit under a condominium plan, the warranty will cover the purchase price of the home up to $130,000, and anything beyond will not be covered.
For an overview of the warranty program: http://www.homewarranty.alberta.ca/
Each warranty provider has their own process for handling claims. Review the home buyer information for details
5. Does the warranty provide deposit protection for buyers?
Not all builders provide this protection. Ask your builder about the details of the coverage offered.
As always, please contact me direct should you have any questions and we can get the right resources to you.
November 7, 2017
Should you renovate before you sell your home?
There is a distinct difference between preparing for the sale of your home and renovating to sell your home.
I strongly believe you should absolutely prepare and stage your home. This includes de-cluttering, arranging furniture and belongings to highlight the home layout, cleaning and cleaning some more and making required small repairs to ensure any required items are in working order.
Renovations are larger scale improvements and include anything from painting to replacing kitchens, roofs, updating landscaping and more. Before setting out on a renovation project there a few things to consider.
1. Inspection Issues. If there is a deficiency that will result in a purchaser walking away from the purchase then it is best addressed prior to listing. Items of disrepair or safety issues should be reviewed independently of aesthetic improvements.
2. Value. Harrison Bowker, Real Estate Appraisers, recently published the Home Renovation Value Guide for 2017. Harrison Bowker is a full-service appraisal company based in Edmonton and serves all of Alberta so I have confidence these numbers reflect our market.
A popular example is the kitchen. A kitchen renovation is considered to have the best return on investment when considering functionality.
The % return for an average quality kitchen is 75-95% and a high quality kitchen is 40-60%.
Please note the numbers reflect renovations completed by qualified professionals.
3. Speed of Sale. Some renovations increase the speed of sale. Recent examples I've seen recently include painting and garage construction.
* Buyers make big decisions based on paint colour. I personally believe a home freshly painted in neutral colours will sell faster than a home with strong or dark colour statements. The % return on interior painting is 80-110%.
* Many first time buyers purchase homes with detached garages on the back lane. In my experience many families prefer to have the garage constructed and included in the purchase price/mortgage. As most families have put the majority of their savings into the down payment they often don't have the $20,000 to then build a garage post purchase. The % return on a typical 24'x24' detached garage (heated, insulted, slab) is 60-80%.
4. Market Timing. Various communities in Calgary have seasonal sales cycles. For example, strong family neighbourhoods such as Tuscany tend to see increased sales in the spring time and move dates that avoid disruptions to school enrollment. If you are considering a sale with a renovation consider timing to ensure your completion is best timed with the market cycles.
Should you wish to review a copy of the Home Renovation Guide and plan your potential renovations to sell, please contact me.
October 27, 2017
New Mortgage Rules That WILL Impact You. Changes effective Jan 1, 2018.
New mortgage rule changes coming into effect. This is a new one effective Jan 1, 2018.
The official info - Official release from Office of the Superintendent of Financial Institutions (OSFI) - Government of Canada
I tried reading the detailed guideline but went cross-eyed on the fine print so I thought you might feel the same and want some cole's notes. As I'm not a mortgage broker nor do I pretend to crunch numbers like one, I asked my trusted mortgage broker, Jason Dodd from First Foundation to give me a hand.
1.) What this means across the board is that your purchasing power is decreasing by about 20%. ( Previously this only applied to insured mortgages. Now it applies to everyone as of Jan 1, 2018.)
Your qualification is no longer based on the lending rate provided to you. It is now based on a government prescribed rate. If you want a 3% mortgage, for example, you'll need to qualify at the Bank of Canada benchmark rate, currently 4.89%, or contract rate + 2%, whichever is HIGHER. Right now some of those 2% rates on 5 year are higher than the National Qualifying Rate.
2) Your qualifications may fluctuate across areas of the country and be adjusted in 'soft or softening markets.
OSFI (Office of the Superintendent of Financial Institutions - Government of Canada) is going to "require" lenders to have more "dynamic" Loan-to-Value (LTV) ratios. Presumably this means that lenders will have to require more money down from buyers in markets that are soft or softening. This could dramatically impact first time buyers who usually can qualify with 5% down. Now the government may determine what's "reasonable" for any given market. In the past lenders were able to make these decisions for themselves.
3) Having multiple mortgages will be calculated differently. This will impact those purchasing a home or refinancing a home with more than one mortgage.
OSFI will ban the practice of combining a first mortgage and second mortgage to a LTV above 80% and marketing the effective blended rate (which is true and accurate as a weighted average, BTW) because they feel that it circumvents the 80% LTV limit. What OSFI doesn't explain here is that nothing will change except the consumer will be more confused than ever. Instead of presenting one rate, the lender(s) will have to present two rates, two payments, and two loan-to-values. This increases complexity and confusion.
These changes are important to both buyers and sellers.
For buyers, these changes will significantly impact your purchasing power as of Jan 1, 2018. I have heard that any purchase contracts FIRM prior to this date will follow current rules, but that isn't in stone and can change. You are best to double check with your mortgage broker. Anything after this date is bound by the new rules. If you are purchasing pre-construction check with your lender.
For sellers, the pool of buyers for your home will be changing and it is important to review the details as you plan your sale.
As always, if you have questions regarding your purchase or sale, give me a call anytime directly at 403 850 2446 to arrange a confidential buyer or seller consultation.
October 27, 2017
Assistance for Seniors in Calgary - Real Estate Related
Over the years I have been thankful for the opportunity to assist many families in downsizing or adjusting property styles either for themselves or their parents. This move, the move away from a long term family home, can be due to a wish to live a more maintenance free lifestyle, a move to a move accessible home style or layout and often a financial decision as part of retirement planning. The process of downsizing in furniture, belongings and accepting change can take some time.
As folks review options it is also worth a strong look at what can be done for families in their current home as they prepare for a move. Whether adjusting design or assisting with short term financial needs, there are support services out there.
Financial assistance options:
Calgary Property Tax Assistance Program - Structured to assist residential property owner experiencing financial hardship, regardless of age.
Alberta Housing Senior Property Tax Deferral - To assist with property tax deferral until a home is sold.
Chip Home Reverse Mortgage Options - See your local and trusted mortgage broker. Contact me if you need some local contacts.
Other Provincial Assistance Programs - These include the senior financial benefit for low-income seniors, dental and optical assistance program and special needs assistance.
Calgary Snow Removal Program - Community based
Home maintenance and adaption assistance:
Senior Services Home Maintenance - Funded by the City of Calgary. Seniors Services Home Maintenance helps low income seniors to live safely and securely in their own homes. The program provides these clients with basic yard care, snow removal, house cleaning, interior & exterior painting and minor repairs.
Senior Home Adaption and Repair Program - Funded by the Province. The Seniors Home Adaptation and Repair Program (SHARP) provides low-interest home equity loans to help seniors finance necessary repairs, adaptations and renovations to their homes. The loans are repaid when you move or sell your home with no monthly payments prior.
We well, families often rely on outside service providers for exterior maintenance, snow removal, landscaping, cleaning and such. Please contact me to join the CIR Realty Best My Nest Program to receive CIR Realty only discounts with many local providers for these and other home services.
Should you need some help with planning for such a move, please give me a call directly at 403 850 2446 to set up a complimentary seller's consultation.
October 3, 2017
Calgary Real Estate Market Update - Oct 3, 2017
The September Calgary real estate numbers continue the trend from last month. A bit of an inventory increase has tempered the earlier uptick in pricing increases. General benchmark trends are down a touch and we are entering October with 1000 more listings than the same time last year.
The recent positive sales numbers and steady couple quarters may have provided folks enough stability in pricing to make plans. Sometimes it once we see past the worst that we hope for the best.
Supply and demand is what drives real estates. Perceptions drive decisions.
And numbers. I know they are boring. That's why you hire a realtor. Seriously.
For example, many folks right now are looking for homes with less maintenance, newer homes. They don't want to worry about furnaces, roofs or major updates. So let's look at newer homes across Calgary.
Detached homes built since 2010 under $500,000:
There are 113 active listings across the city. In the last 30 days 51 have sold. That is 2.2 or just over 2 months of inventory. Kind of a seller's advantage depending on the community. Surprised?
Detached homes built since 2010 between $500,000 and $600,000:
There are 184 active listings across the city. In the last 30 days 24 have sold. This is 7.6 months of inventory. This is a definite buyer advantage.
Does it depend where you are? The outskirts are where we find new inventory in this price point.
Let's compare North and South (sorry excluding east for now).
So North/Northwest there are 78 active listings in the $500,000- $600,000 category built since 2010. 7 have sold in the last 30 days. Absorption is 11.1 months of inventory. Hmm...
So South/Southeast there are 79 active listings in the $500,000-$600,000 category built since 1010. 13 have sold in the last 30 days. Absorption is 6 months of inventory.
So if you are a seller in this category in the north vs the south you may have to work a bit harder to get your home sold. Very good information to know. And as a buyer maybe you can ask for the washer/dryer included.
Buyers are very price sensitive right now and it important to understand the distinct variables to know if you are in a buyer's or seller's micro market when buying or selling. Who has the advantage in your market?
Calgary rocks. I mean it. Really. Calgary is a sensational place to live. Calgary is a young and vibrant city full of educated, caring, forward-thinking folks. If you are considering Calgary, stop by for a visit and check things out. I'm happy to help.
October 3, 2017
Sold - 404 280 Shawville and 37 10 Point Drive
It has been a busy week with both of these great properties now SOLD!
Should you be looking for your new home or are planning a sale of your home then give me a call direclty at 403 850 2446 for a no obligation buyer or seller consultation.
The goal is not to List your home. The goal is to see it SOLD!
Sold - 404 280 Shawville Way SE
Sold - 37 10 Point Drive NW
September 14, 2017
5 Important fall and winter maintenance preparation tips
1. This has been an unusual year in Calgary with many days of smoke from the BC and Alberta fires. Inspect and potentially change your furnace filters earlier than normal to keep your furnace running efficiently. This is especially true if you run your furnace fan or an air conditioner in the summer. My own filters (only 1 1/2 months old) were clogged with ash from the smoke.
2. Request an inspection and service for your furnace and other gas appliances. ATCO provides an annual furnace inspection service which is free of charge. For cleaning or repair please contact your preferred qualified contractor. (If you are a senior please contact Alberta Senior and Housing
for potential financing assistance before making any needed renovations.)
3. Smoke detectors only work for approximately 10 years. After this time they will been and test green on a battery check but they may no longer be effective at detecting smoke. Check and replace any smoke detectors older than 10 years.
4. Drain your outside water lines and sprinkler lines and turn off the water lines to the outside taps inside your home. The lines to your outside taps are most susceptible to freezing in colder temperatures.
5. Should you be leaving your home unattended contact your insurance company to determine requirements. For example, many insurers require a property check every set number of days or require the water be shut off at the residence.
September 14, 2017
Calgary Real Estate Market Update - Sept 14, 2017
If you have school aged children or are yourself engaged in educational pursuits, then September is a big month. The 'new' of September often gets folks considering their real estate plans as we say goodbye to summer hot days and ponder how many days we have to spruce up the front porch before the snow hits.
Since the weather changes around here every 10 minutes around now would be the time to touch up any exterior paint or repairs if you are considering a fall/winter sale.
Many of the conversations with folks I have these days is about timing the market. Folks considering a purchase or sale are trying to crystal ball things. We have a sense that the market is stabilizing with many indicators from various industry trends and numbers. At the same time, we have an increase in fall listings that are outshining the positive sales bumps.
Our year to date sales total are up across segments (8.06% up year over year detached, 5.12% up year over year apartments and 11.06% year over year attached). This is a very positive sign. Our year over year numbers are indicating positive movement in most regards. However, the monthly numbers are pointing towards an uptick in inventory and a drop in sales of homes per listings than the same month last year. The yearly and monthly comparable (August 2016 to August 2017) are somewhat divergent. An example is that our Year over Year Inventory level shows a decrease of 7.38% but a August 2016 to August 2017 comparable shows an increase of 20.23%.
There is some seasonal here, but also potentially an opportunity to see a bump in an otherwise positive trending path.
At the same time the benchmark pricing continues to drop in the apartment sector and increase in the detached sector with some mixed numbers in the attached sector.
What does all that mean? Typically we are on a positive trend with a bit of up and down along the way.
Curious to find our opportunity? So am I. If you are considering a purchase or sale please give me a call so we can review your specific details.