Well fall is in the air and with it changes to the Canadian landscape and potentially the housing market are coming. October 19, 2015 is the date scheduled for the 42nd Canadian general election, to elect members to the House of Commons of Canada. Today there are 308 seats at the Parliament, the vast majority by guess are also homeowners. This number will be increased to 338 in 2015 likely resulting with even more homeowners in Parliament. Despite challenging economic times in Alberta and Calgary, people still need a place to live and investing in real estate either as a pure investment or primary residence grants you the security and certainty that even the upcoming election may not.
It’s true that the market in Calgary has softened. In most segments we have seen prices drop and homes that aren’t well maintained or in optimal locations remain on the market for longer periods of time. That’s not too say the entire market is stagnant. I’m am still very active helping great people find wonderful homes, just there is more inventory to choose from and it affords my buyers the opportunity to be more selective in some circumstances. The luxury market especially has a large number of listings available.
One thing is certain, home ownership is still a large portion of a family’s assets and potential for growth. We have all seen the cyclical economic and political waves come and go but year over year, decade over decade, home values tend to rise.
Now is a great time to consider home ownership or moving to a new location or home that better suits your needs. Whether it’s that extra bedroom, green space, a quieter street or a location closer to transit or schools, there are more options for you today than this time last year.
If you have any questions or would like to discuss the market and your real estate opportunities in Calgary please don’t hesitate to contact me. I look forward to assisting you with any of your real estate needs.
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