Are you new to Calgary or maybe getting ready to explore an area of the City of Calgary you haven't visited before?

The recent events have made many folks realize there are amazing parts of our city that they haven't explored or new locations you may wish to call home.


Plan a trip via bike, transit, LRT, your car or your feet to get you started on your adventure.   As well, there are many resources to help you explore your city online before you venture out. Have you ever checked out Walkscore in planning your next move or checked out a property Birds Eye View to see things from another angle?

Resources built just for you to explore your city.



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Every once in a while I reply on my friends in the mortgage industry to help my clients save some money on their mortgage. Toping up your mortgage payments by $50 or $100 can make a big difference. At the bottom of the article are links to previous posts with some other great options.

Using this method you make an extra payment towards your principle every regular payment. Depending on whether you choose to make your payments monthly, bi-weekly or weekly you can choose to pay a little bit extra on your principle with every payment.


Many people use this method when on a restricted budget. It is easier to save $50 to $100 each month than one lump sum. How much money and time can we save using this method?


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.
Principle Balance left owing after 5 years: $89,836.47


What You will Save by Adding $50 per month:
If you paid an extra $50 per month, each month for 5 years.
You would save $388.34 in interest
You would pay the principle down by $3,388.34

If you continued this process every year you would save 18 months worth of payments; 1 1/2 year's worth of mortgage payments. At $639.81 per mortage payment that means a savings of $11,516.58


This method makes it easier for many people to budget and save. Another idea to consider is to round up your payments. Sometimes for a budget it is easier to remember that your monthly mortgage payment is $900 than $835.81. If you can afford to pay the $900 then talk to your financial institution about rounding up your payments.

Courtesy of Daryl Marsden, Maximum Mortgages

In House Royal LePage Foothills trusted brokers


Previous Posts to save on your mortgage:
Previous Post: Dual Benefit of a Low Mortgage Rate
Previous Post: Take Advantage of Double up Payments Offered by Most Banks
Previous Post: Beyond the Interest Rate
Previous Post: Shortening the Amortization Period on your Mortgage   
Previous Post: The Effects of Weekly or Bi-Weekly Mortgage Payments

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With so many folks moving to Calgary or purchasing investment property in our great City, it may come as a surprise to some that we have a somewhat unique law that provides for spousal rights in the sale of property even when that spouse is not on title.


If you are buying or selling a property with only your name on title and you are legally married then Dower Rights may apply meaning you will require the consent of your spouse to sell the property.


This is especially tricky when one person wishes to sell property but they have no contact or not so great relationship with a separated spouse. The challenge is that when buying property you may so do without realizing the issues you will face on selling. There are, however, options to structure the sale to avoid the issue.


If you are in these circumstances please seek legal advice before signing a listing or purchase document.

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Looking for a great end unit townhouse within walking distance to the LRT and the University of Calgary? 


Check out 1001 - 3500 Varsity Drive NW just listed.


End Unit. Sparkling clean and renovated 2 bedroom townhouse in McLaurin Village close to the Brentwood LRT, the University of Calgary and a short distance to Market Mall, Foothills and Children's Hospital. This central location is hard to find. Recent updates include new paint throughout, renovated kitchen including  new appliances just over 2 years ago, updated bath, new furnace, new hot water tank and many small touches. The main level is open between a large living area and dining area with warm wood burning fireplace. The dining room is then open to the new kitchen and large pantry and laundry room beyond. Upstairs you will find a master bedroom which opens to a private balcony, a second bedroom and a well appointed full bath.  You will appreciate the central air conditioning during our hot summer days.  Book your private showing today.

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Predicting the unpredictable. As parts of our City face unprecedented issues due to the flooding of just over a week ago, now comes the recovery and clean up and questions about how recent events will impact the Calgary Real Estate Market. It was extremely challenging to watch the events unfold and I've spoken to numerous clients that have been displaced, some temporarily but some facing major challenges. I never expected to receive photos of a cat rescue in Bowness by canoe with waters rising above the home's main level.


The City of Calgary residential sales numbers for June don't really show any indications. Due to the nature of condition periods on offers, I believe the first indications on a statistical basis will be seen in the July numbers at the earliest. The adjustments or other arrangements made for those homes that transferred owners last week won't be seen on a statistics report and it is too early to understand repair needs, insurance and disaster relief options. Last week, roads were closed and schools closed. Many fewer people were out looking at property than normally expected.


That being said, the City of Calgary was experiencing a strong real estate market prior to the floods. The rental market was also tight with 1.5% vacancy rates reported in most areas. It is not known how many units, especially rental units, were damaged during the floods and this impact on the rental market. A substantial area of the city was undamaged so it is not known whether displaced renters/owners will find new options or wait for remediation. There are less listings on the market with higher sales numbers and now areas of the city that are potentially removed from the sales pool for a time. In this environment, one would expect an increase in prices in most areas in the short term.


Some major new developments also received damage while under construction in the flood zone and we await news of the impact on expected completion dates. With the huge efforts ahead, our city will need more workers to repair and rebuild. All those folks will need a place to live, whether as owners or renters. However, there are many homeowners who now face challenges in selling their home and may hold off on a previously planned move.

All the best to you and your family and our collective thoughts go out to those that lost their homes or were impacted by this flood. Enjoy Stampede and our celebration of the spirit that is Calgary, Hell or High Water.

Notable Numbers from CREB:

City of Calgary monthly residential sales totalled 2,317, a six per cent increase over June 2012 figures, and nearly five per cent higher than levels recorded in the first half of 2012.

Active listings totalled 4,584 units in June, of which more than 660 units are listed in flood-affected areas. Active listings are nearly 20 per cent less than last year.

Condominium sales growth outpaced gains in the single family sector, as less availability of single-family homes priced at less than $500,000 have improved the demand for the relatively affordable condominium market.

After the first six months of the year, condominium apartment sales totalled 2,034 units a 9.5 per cent increase over 2012. Meanwhile, year-to-date condominium townhouse sales amounted to 1,672 units, up from 1,374 sales recorded in the first half of 2012.

The benchmark price for condominium apartments and townhouses were a respective $264,000 and $295,000 for the month of June 2013. Condominium prices have increased by more than six per cent on a year-over-year basis, but remain below unadjusted peak levels.

Single-family sales activity totalled 1,638 units in June, a two per cent increase over 2012. However, after the first two quarters, single-family sales totalled 8,573 units, a one per cent increase over last year.

The single-family market moved into seller’s territory ahead of the condominium market, supporting stronger price growth. As of June the single-family benchmark price reached $459,700, a 6.7 per cent increase over the previous year.


Full real estate statistics report for June 2013

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Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.