Calgary Realtor - Pammi Brar | Thoughts on Real Estate

Thursday, June 24, 2010 - Springbank architectural gem for sale: $2,668,880-calgary herald

Once described as one of the top 100 houses in the world by architecture experts, a unique home in Springbank is for sale for the first time. The nearly 5,000-square-foot luxury home, designed and owned by architect Marian Liptak, is listed for $2,668,880 and being sold through realtor Robbie O'Leary of MaxWell Westview Realty. "It's only a few minutes from town but this is a peaceful, Zen environment -- very private," said O'Leary. "It's all about the natural environment. Living with nature. B ... Full Article...

posted in News at Thu, 24 Jun 2010 11:19:46 -0600

Wednesday, June 23, 2010 - Getting older now means more housing distress-calgary herald

NEW YORK - Amma Holmes expected to pay off the mortgage on her Tampa, Florida, home in the next few years. Instead, she lost her job and her two adult sons have moved back in to help pay her bills. She isn't alone. For the first time in generations, getting older means carrying more mortgage debt and less savings into retirement, thanks to the housing crash and rising joblessness among those 45 and older. The average age of borrowers seeking foreclosure prevention help from CredAbility, a ... Full Article...

posted in News at Wed, 23 Jun 2010 12:15:23 -0600

Tuesday, June 22, 2010 - Apartment rental rates dropping, vacancies rising, in Calgary: CMHC-calgary herald

CALGARY - The average rental apartment vacancy rate in Calgary has risen from a year ago but rent has also declined, according to the spring Rental Market Survey released today by Canada Mortgage and Housing Corp. The agency said Calgary’s vacancy rate went from 4.3 per cent in April 2009 to 5.3 per cent in April of this year. At the same time, average rent for a two-bedroom apartment fell to $1,082 from $1,106. Nationally, the survey of Canada’s 35 major centres, saw the vacancy ra ... Full Article...

posted in News at Tue, 22 Jun 2010 12:55:28 -0600

Monday, June 21, 2010 - Southcentre getting new owner in Oxford Properties-calgary herald

CALGARY - The high-profile and successful Southcentre is in the process of changing ownership hands, the Herald has learned. The nearly one-million-square-foot mall in southeast Calgary is being sold by Ivanhoe Cambridge to Oxford Properties Group Inc. “We have not completed the sale transaction so I would call us the pending owner,” said Michael Kitt, executive vice-president Canada for Oxford. “But by the end of June we will be the owner of Southcentre mall provided that eve ... Full Article...

posted in News at Mon, 21 Jun 2010 10:26:21 -0600

Monday, June 21, 2010 - Real estate rebels now free and clear-calgary herald

EDMONTON - ComFree is now Holowach-free. Travis and Erin Holowach, who revolutionized Edmonton's real estate market by helping owners sell their homes privately without paying agent commissions, have sold the company to DuProprio.com, a Quebec-based company. The Holowachs, who started out flipping houses, have been synonymous with ComFree since December 2002, when the couple bought the Edmonton and northern Alberta franchise of the company, which started in 1996 in Winnipeg. ComFree charges a f ... Full Article...

posted in News at Mon, 21 Jun 2010 10:24:56 -0600

Monday, June 21, 2010 - Calgary's office vacancy rate leaps as new construction floods market-calgary herald

Calgary’s overall office vacancy rate experienced the biggest jump in the country in the second quarter of this year, rising to 15.7 per cent from 10.2 per cent a year ago. The city also had the highest amount of new construction added to the market in the country of just over 1.2 million square feet, says a national report released today by CB Richard Ellis. Demand for commercial space was steady in Canada’s major office and industrial markets, as vacancy rates remained stable or w ... Full Article...

posted in News at Mon, 21 Jun 2010 10:23:10 -0600

Thursday, June 17, 2010 - New home prices in Calgary CMA flat for April, StatCan says-calgary herald

CALGARY - New house prices in the Calgary census metropolitan area remained flat in April from the previous month but rose by more than the national average on a year-over-year basis. Statistics Canada in reporting its New Housing Price Index today said Calgary new home prices increased by 2.9 per cent from April 2009 to April of this year. At the national level, they were up 2.5 per cent annually and 0.3 per cent on a monthly basis. Between March and April, prices increased the most in St. Joh ... Full Article...

posted in News at Thu, 17 Jun 2010 09:36:46 -0600

Thursday, June 17, 2010 - Apartment rental rates dropping, vacancies rising, in Calgary: CMHC-calgary herald

CALGARY - The average rental apartment vacancy rate in Calgary has risen from a year ago but rent has also declined, according to the spring Rental Market Survey released today by Canada Mortgage and Housing Corp. The agency said Calgary’s vacancy rate went from 4.3 per cent in April 2009 to 5.3 per cent in April of this year. At the same time, average rent for a two-bedroom apartment fell to $1,082 from $1,106. Nationally, the survey of Canada’s 35 major centres, saw the vacancy ra ... Full Article...

posted in News at Thu, 17 Jun 2010 09:35:23 -0600

Thursday, June 17, 2010 - Calgary's residential MLS sales plummet in May: CREA-calgary herald

CALGARY - Residential MLS sales in Calgary plunged at a rate more than four times greater than the national average in May, according to statistics released today by the Canadian Real Estate Association. The association, which represents 99,000 realtors working through more than 100 real estate boards and associations, said MLS sales of residential properties in Calgary dropped by 18.7 per cent from May 2009 to 2,133 units but the average sale price increased on a year-over-year basis by 9.2 ... Full Article...

posted in News at Thu, 17 Jun 2010 09:33:58 -0600

Monday, June 14, 2010 - Calgary housing starts leap 80% in May compared to year ago-calgaery herald

CALGARY - Housing starts in May ballooned in the Calgary census metropolitan area compared with year-ago levels. According to preliminary figures released today by Canada Mortgage and Housing Corp., total housing starts in the reached 862 units, up 79.6 per cent from 480 units in the previous year. To the end of May, total housing starts have increased from 1,547 units in 2009 to 3,932 units in 2010. In May, there were 634 single-detached units that broke ground, representing an increase of 66 ... Full Article...

posted in News at Mon, 14 Jun 2010 10:04:35 -0600

Monday, June 14, 2010 - Calgarians are biggest renovation spenders-calgary herald

CALGARY - Households in Calgary are expected to spend more on renovations than anywhere else in the country this year. The average expected cost of a renovation in Calgary is $13,256, $1,825 more than the national average, according to the Renovation and Home Purchase Survey released Wednesday by Canada Mortgage and Housing Corp. “Incomes in Calgary are among the highest in the country. This may contribute to the average expected cost of renovations in Calgary being higher than other cent ... Full Article...

posted in News at Mon, 14 Jun 2010 10:02:55 -0600

Monday, June 14, 2010 - New home prices in Calgary CMA flat for April, StatCan says-calgary herald

CALGARY - New house prices in the Calgary census metropolitan area remained flat in April from the previous month but rose by more than the national average on a year-over-year basis. Statistics Canada in reporting its New Housing Price Index today said Calgary new home prices increased by 2.9 per cent from April 2009 to April of this year. At the national level, they were up 2.5 per cent annually and 0.3 per cent on a monthly basis. Between March and April, prices increased the most in St. Joh ... Full Article...

posted in News at Mon, 14 Jun 2010 10:01:38 -0600

Wednesday, June 9, 2010 - Calgary developers set to push agenda for civic election-calgary herald

CALGARY - Local developers and home builders are preparing their own election website and plan to campaign heavily for their agenda in the upcoming civic election, a year after the divisive debate on the Plan It blueprint for city growth. One of Calgary's biggest home builders lays out the campaign in a three-and-a-half-minute video. "We want a mayor and city council that is open for people and open for business. "We need to elect candidates that see new residences and businesses as an opportun ... Full Article...

posted in News at Wed, 09 Jun 2010 10:42:34 -0600

Wednesday, June 9, 2010 - Calgary's building permit values plunge in May-calgary herald

CALGARY - The estimated construction value of building permit applications in May plunged in the city compared with a year ago. The City of Calgary reported today that the value last month dropped to $241 million, down 56 per cent from May 2009's $547 million. It was also down 38 per cent compared with the five-year average of $387 million and down 55 per cent compared to the 10-year average of $536 million). “Over the past five years, we have seen a shift in balance between residential a ... Full Article...

posted in News at Wed, 09 Jun 2010 10:40:51 -0600

Wednesday, June 9, 2010 - Investment report ranks Calgary #1 in Canadian real estate markets-calgary herald

CALGARY - Calgary is the best place in Canada to invest in the residential real estate market, according to a new report released today. The Real Estate Investment Network’s report said that Calgary experienced one of its best economic and real estate periods in Canadian history a couple of years ago but then entered a strong, and needed correction. “During the economic downturn, Calgary’s market is making a predictable correction resulting in slightly more affordable housing ... Full Article...

posted in News at Wed, 09 Jun 2010 10:39:34 -0600

Tuesday, June 8, 2010 - Calgary developers set to push agenda for civic election-calgary herald

CALGARY - Local developers and home builders are preparing their own election website and plan to campaign heavily for their agenda in the upcoming civic election, a year after the divisive debate on the Plan It blueprint for city growth. One of Calgary's biggest home builders lays out the campaign in a three-and-a-half-minute video. "We want a mayor and city council that is open for people and open for business. "We need to elect candidates that see new residences and businesses as an opportun ... Full Article...

posted in News at Tue, 08 Jun 2010 11:30:03 -0600

Tuesday, June 8, 2010 - Calgary housing starts leap 80% in May compared to year ago-calgay herald

CALGARY - Housing starts in May ballooned in the Calgary census metropolitan area compared with year-ago levels. According to preliminary figures released today by Canada Mortgage and Housing Corp., total housing starts in the reached 862 units, up 79.6 per cent from 480 units in the previous year. To the end of May, total housing starts have increased from 1,547 units in 2009 to 3,932 units in 2010. In May, there were 634 single-detached units that broke ground, representing an increase of 66 ... Full Article...

posted in News at Tue, 08 Jun 2010 11:27:44 -0600

Thursday, May 27, 2010 - B.C. developers taking aim at Alberta property buyers ahead of HST-calgary herald

CALGARY - Recreational property developers in B.C. are targeting potential Alberta homebuyers prior to the province's introduction of the harmonized sales tax on July 1. "We're doing absolutely everything we can to reach out to those who have shown interest in purchasing property in the area by letting them know postponing could cost them tens of thousands of dollars," said Frank Kernick, developer of Copperside at Lakeview Meadows in Invermere, B.C. "Regardless of the development, second-home ... Full Article...

posted in News at Thu, 27 May 2010 11:35:10 -0600

Thursday, May 27, 2010 - Oil leaps 4% on demand hope, equities rally-calgary herald

NEW YORK -- Oil prices jumped nearly 4 percent on Wednesday, their biggest gain in over three months, as bargain-hunting lifted Wall Street and government data showed a big bounce in U.S. oil demand. A cautious recovery in risk appetite aided oil along with U.S. stocks and other commodities as traders reckoned a weeks-long rout may have run its course, with positive sentiment and strong manufacturing data overshadowing a larger-than-expected rise in U.S. crude oil stockpiles. U.S. crude rose $2 ... Full Article...

posted in News at Thu, 27 May 2010 11:33:57 -0600

Thursday, May 27, 2010 - U.S.-style housing market collapse not likely in Canada, CREA says-calgary herald

CALGARY - Canadian homeowners are unlikely to experience a U.S.-style decline in the value of their homes, says a report released today by the Canadian Real Estate Assocation. Instead, home prices will stabilize and will remain stable for some time, said the report. "The relationship between average price and income has recently been cited as portending a U.S.-style correction in Canadian home prices," said Gregory Klump, chief economist with CREA. "However, such warnings ignore the longer-te ... Full Article...

posted in News at Thu, 27 May 2010 11:32:43 -0600

Wednesday, May 26, 2010 - B.C. developers taking aim at Alberta property buyers ahead of HST-calgary herald

CALGARY - Recreational property developers in B.C. are targeting potential Alberta homebuyers prior to the province's introduction of the harmonized sales tax on July 1. "We're doing absolutely everything we can to reach out to those who have shown interest in purchasing property in the area by letting them know postponing could cost them tens of thousands of dollars," said Frank Kernick, developer of Copperside at Lakeview Meadows in Invermere, B.C. "Regardless of the development, second-home ... Full Article...

posted in News at Wed, 26 May 2010 11:26:09 -0600

Wednesday, May 26, 2010 - Okotoks solar heating experiment hits milestone; 80% of heating needs met-calgary herald

An alternative-energy experiment in Okotoks has reached a milestone thought to be a world first, and may now be on track to exceed its creators' expectations. The 52 homes that make up the Drake Landing solar community are heated year-round by a circuit of pipes carrying water warmed by the sun. It was announced Tuesday that after three years, the system is now meeting its intended target of supplying 80 per cent of the homes' heating needs. An overseer from Natural Resources Canada, which cont ... Full Article...

posted in News at Wed, 26 May 2010 11:24:29 -0600

Tuesday, May 25, 2010 - Alberta only province to see improved housing affordability in Q1 2010-calgary herald

CALGARY - Alberta was the only province to experience an improvement in housing affordability in the first quarter of 2010, according to the latest housing report released today by RBC Economics Research. The RBC Housing Affordability measures for Alberta eased between 0.1 and 0.6 of a percentage point, further extending the significant drop in the measures since the end of 2007, a trend that was only briefly halted last summer — a drop in the measure means homes are more affordable, said ... Full Article...

posted in News at Tue, 25 May 2010 11:02:07 -0600

Tuesday, May 25, 2010 - Owning a home becoming more difficult for households below $50,000 in income: CIBC-calgary herald

CALGARY - Home Ownership remains within reach for most Canadians but is getting increasingly difficult for families with household income less than $50,000, finds CIBC World Markets Inc.'s new Home Ownership Affordability Index. Canadians spend 15.6 per cent of their average gross personal income on mortgage payments, which is about the same as 10 years ago, said the report. But when adding in hydro bills and property/municipal taxes, it rises to about 22 per cent of gross income. "The vast maj ... Full Article...

posted in News at Tue, 25 May 2010 11:00:29 -0600

Tuesday, May 25, 2010 - Construction pace triples-calgary herald

The value of building permits for multi-family homes approved by the city for the first four months of this year is more than triple that of the same period last year, says the City of Calgary. To the end of April, more than $110 million worth of permits for duplexes, apartments and townhouses was given the nod by the development and building approvals department. For the same period a year ago, the value was slightly more than $36 million. Of the 329 multifamily permits approved from January t ... Full Article...

posted in News at Tue, 25 May 2010 10:58:51 -0600

Friday, May 21, 2010 - Calgary a 'buyer's market' as 5-7% growth forecast: report-calgary herald

Calgary resale homes are expected to experience five to seven per cent year-over-year price growth in the short term, says a report released today by the Conference Board of Canada. The Metro Resale Index classified Calgary as being in a “buyer’s” market. The average MLS residential sale price in April in Calgary was $392,646, down from $399,104 in March but up from $368,025 in April 2009. The conference board said Victoria, Vancouver, the Fraser Valley, Halifax and Newfoundla ... Full Article...

posted in News at Fri, 21 May 2010 13:00:51 -0600

Thursday, May 20, 2010 - Interest in multi-generational homes on the rise: Coldwell Banker-calgary herald

CALGARY - Family reunions are taking on new meaning in the real estate market, according to recent surveys by Coldwell Banker Real Estate LLC. A survey of its real estate professionals in both Canada and the United States found that a large percentage have noticed in the past year an increase in homebuyers looking for a property to accommodate more than one generation of their family. Overall, 37 per cent of respondents said they have seen an increased demand for multi-generational homes, but i ... Full Article...

posted in News at Thu, 20 May 2010 10:49:53 -0600

Thursday, May 20, 2010 - Recreational property sales jump this year versus last: Re/Max-calgary herald

CALGARY - Recreational property sales in most major Canadian markets have soared this year compared with a year ago, according to a report released today by Re/Max. The 2010 Re/Max Recreational Property Report found that 79 per cent of recreational areas reported an upswing in the number of properties sold during the first three months of the year. Starting prices for recreational product were also on the move with 43 per cent posting a nominal increase. The report said the number of units in C ... Full Article...

posted in News at Thu, 20 May 2010 10:48:31 -0600

Monday, May 17, 2010 - Resale housing markets in Calgary, Alberta lag in april-calgary herald

CALGARY - Residential MLS sales and price growth in Calgary and in Alberta lagged behind the national averages in April as the housing market showed initial signs of cooling, according to a report released today by the Canadian Real Estate Assocation. CREA said there were 2,382 MLS sales in Calgary last month which was up 7.4 per cent from a year ago. The average sale price was $395,847 for a 6.4 per cent hike from April 2009. In Alberta, CREA said sales increased by 5.9 per cent to 5,544 u ... Full Article...

posted in News at Mon, 17 May 2010 10:32:34 -0600

Monday, May 17, 2010 - Retail growth in Alberta to lead Canadian provinces in 2011-calgary herald

CALGARY - Retail sales in Alberta are expected to lead the country next year in rate of growth as consumers will spend to the tune of nearly $62 billion for the year. The Conference Board of Canada is forecasting an annual growth rate of 5.5 per cent for the province next year which would tie it with Ontario for the highest growth across the country. Nationally, sales are expected to rise by 4.9 per cent in 2011 to $458.1 billion. The forecast for this year in Alberta is for 5.0 per cent growth ... Full Article...

posted in News at Mon, 17 May 2010 10:30:25 -0600

Monday, May 17, 2010 - Hart mansion formerly owned by Calgary wrestling family for sale-calgary herald

Described as “one of the most sophisticated buying opportunities of this century,” the iconic Hart mansion, one of the country’s most famous historical residences, has been listed for sale in Calgary for nearly $5 million, the Herald has learned. The three-storey mansion, formerly owned by wrestling’s famous Hart clan and currently owned by Dario Berloni, owner of the downtown Teatro Restaurant, is about 5,600 square feet on about one hectare of land with stunning views ... Full Article...

posted in News at Mon, 17 May 2010 10:28:11 -0600

Wednesday, May 12, 2010 - New home prices in Calgary CMA outpaced Canadian average-calgary herald

CALGARY - The price of new homes in the Calgary census metropolitan area rose at a higher rate in March than the Canadian average, according to Statistics Canada. In releasing its New Housing Price Index today, the federal agency said prices were up 0.4 per cent in Calgary from the previous month and 2.0 per cent from March 2009. The national increase in the NHPI was 0.3 per cent on a monthly basis and 1.6 per cent year-over-year. The federal agency said the national index has been advancing si ... Full Article...

posted in News at Wed, 12 May 2010 10:29:17 -0600

Wednesday, May 12, 2010 - Calgary industrial leasing market showing signs of recovery: Avison Young-calgary herald

CALGARY - There are signs within the leasing sector of a recovery in the Calgary industrial market, says a report released today by Avison Young. The commercial real estate firm said vacancy in the industrial real estate market was 9.7 per cent in the first quarter of this year, down from 11.2 per cent at the end of 2009 but up from 9.3 per cent a year ago. Vacancy has hovered between nine per cent and 11 per cent, average 10 per cent, for the past five quarters. “This most recent decline ... Full Article...

posted in News at Wed, 12 May 2010 10:27:00 -0600

Wednesday, May 12, 2010 - Calgary-area investment activity declines in Q1 2010-calgary herald

CALGARY - The total dollar volume of investment transactions in the Greater Calgary Area decreased by 35 per cent in the first quarter of this year compared with the previous quarter, says a report released today by RealNet Canada Inc. However, the decline is due to the $253-million sale of Sunridge Mall from Ivanhoe Cambridge to Primaris REIT in the last quarter of 2009. A total of 71 transactions of over $1 million took place in the first quarter, representing $364 million. RealNet said in it ... Full Article...

posted in News at Wed, 12 May 2010 10:25:35 -0600

Tuesday, May 11, 2010 - CMHC: Calgary housing starts almost triple in April-calgary herald

CALGARY - Housing starts in the Calgary census metropolitan area almost tripled in April compared with a year ago, according to data released today by Canada Mortgage and Housing Corp. Total housing starts reached 909 units last month, up from 321 units in the previous year. To the end of April, total housing starts increased from 1,067 units in 2009 to 3,070 units in 2010. The CMHC said single-detached builders started work on 642 homes in April, up from 234 units started a year earlier. &ldqu ... Full Article...

posted in News at Tue, 11 May 2010 10:08:14 -0600

Tuesday, May 11, 2010 - Calgary industrial leasing market showing signs of recovery: Avison Young-calgary herald

CALGARY - There are signs within the leasing sector of a recovery in the Calgary industrial market, says a report released today by Avison Young. The commercial real estate firm said vacancy in the industrial real estate market was 9.7 per cent in the first quarter of this year, down from 11.2 per cent at the end of 2009 but up from 9.3 per cent a year ago. Vacancy has hovered between nine per cent and 11 per cent, average 10 per cent, for the past five quarters. “This most recent decline ... Full Article...

posted in News at Tue, 11 May 2010 10:06:29 -0600

Monday, May 10, 2010 - Prudence will pay off for Canadian homeowners as interest rates rise: report-calgary herald

Canadians appear well prepared to face the new phase of the residential mortgage market, where interest rates are rising and house activity is easing off, according to the sixth biannual review of the Canadian mortgage market by the Canadian Association of Accredited Mortgage Professionals released today. Highlights of the report include: consumer concern about rising rates is offset by increasing home equity; many mortgages were renegotiated at lower rates and amortization periods are declinin ... Full Article...

posted in News at Mon, 10 May 2010 09:44:38 -0600

Monday, May 10, 2010 - CMHC: Calgary housing starts almost triple in April-calgary herald

CALGARY - Housing starts in the Calgary census metropolitan area almost tripled in April compared with a year ago, according to data released today by Canada Mortgage and Housing Corp. Total housing starts reached 909 units last month, up from 321 units in the previous year. To the end of April, total housing starts increased from 1,067 units in 2009 to 3,070 units in 2010. The CMHC said single-detached builders started work on 642 homes in April, up from 234 units started a year earlier. &ldqu ... Full Article...

posted in News at Mon, 10 May 2010 09:43:05 -0600

Friday, May 7, 2010 - Calgary's CIR Realty joins international home sales -calgary herald

CALGARY - Calgary-based CIR Realty, one of Canada’s largest independent real estate organizations, has joined an international luxury home market network. “What it’s going to mean specifically for our company is that we’re going to have the tools that we need to properly service a luxury home, a luxury listing,” said Ron Stader, broker and co-owner of CIR with his brother Ray. “And we’re also going to have the tools to work with buyers that are in the ... Full Article...

posted in News at Fri, 07 May 2010 14:40:39 -0600

Wednesday, May 5, 2010 - Calgary ranks 49th among world's most expensive office market-calgary herald

CALGARY - Calgary is ranked 49th overall in the world when it comes to the most expensive office markets, according to CB Richard Ellis Ltd. In its semi-annual Global Office Rents survey, released today, the commercial real estate firm said Calgary made the list with office occupancy costs of $51.69 per square foot. Toronto was ranked 34th at $60.77 while Vancouver was 39th at $56.33. The survey tracked occupancy costs for prime office space in 176 cities around the globe. The most expensive ... Full Article...

posted in News at Wed, 05 May 2010 15:22:01 -0600

Monday, May 3, 2010 - Calgary luxury home sales surging in 2010-calgary herald

CALGARY - Affluent purchasers moved in the first quarter to take advantage of low interest rates, pushing luxury home sales in Calgary to nearly double what they were a year ago. Although the high-end market is not on fire like it was a couple of years ago during the real estate boom, it has picked up dramatically from the recession in 2009. In Calgary, for the first quarter of this year, 67 upper-end properties valued at more than $1 million were sold compared with 35 during the same period ... Full Article...

posted in News at Mon, 03 May 2010 12:37:46 -0600

Monday, May 3, 2010 - Canadians should be wary of potential -calgary herald

CALGARY - House prices are rising faster than economic fundamentals warrant and could decline with a housing “bubble” developing but not a “bust,” says Edward Jones in a report released today. “Canada’s housing market escaped the recent severe downturns in the U.S. and other countries,” said the report authored by Kate Warne and Craig Fehr. “However, today’s conditions in Canada share some characteristics of those countries prior to their ... Full Article...

posted in News at Mon, 03 May 2010 12:36:10 -0600

Monday, May 3, 2010 - Calgary the only major Canadian CMA still -calgary herald

CALGARY - Calgary is the only Canadian major metropolitan area where house prices remain below their peak level, according to a report released today by Teranet-National Bank. The report, which measures prices of all dwellings sold at least twice, said Calgary is still 10 per cent down from its peak in August 2007. In February, Calgary prices declined by 0.4 per cent from the previous month but were up 2.2 per cent from year ago levels, according to the Teranet-National Bank House Price Index ... Full Article...

posted in News at Mon, 03 May 2010 12:34:11 -0600

Wednesday, April 28, 2010 - Okotoks turns off tap on new housing development-calgary herald

CALGARY - Scarce water resources and rapid growth have collided head-on in Okotoks, where town officials aren't approving new subdivisions until they can acquire enough water licence allocations. Water has always been a top concern for the town that relies on the tiny Sheep River southwest of Calgary. Okotoks has capped future growth at 30,000 people, and it has strict rules about when and where residents can water lawns, as well as fines to enforce them. The town itself isn't exactly running d ... Full Article...

posted in News at Wed, 28 Apr 2010 10:57:43 -0600

Wednesday, April 28, 2010 - Mortgage rates on the rise again-calgary herald

A new survey says more than four out of five home buyers feel comfortable with their debt, but another hike in interest rates might get Canadians squirming next time they’re polled. Canada and Mortgage and Housing Corp. surveyed 2,503 mortgage consumers between Feb. 11 and Feb. 28 and found 81% were comfortable with their current debt levels. However, the survey was done before three successive hikes in interest rates that have pushed the five-year, fixed-rate, closed mortgage from 5.25% ... Full Article...

posted in News at Wed, 28 Apr 2010 10:54:57 -0600

Wednesday, April 28, 2010 - Calgary luxury home sales surging in 2010-calgary herald

CALGARY - Affluent purchasers moved in the first quarter to take advantage of low interest rates, pushing luxury home sales in Calgary to nearly double what they were a year ago. Although the high-end market is not on fire like it was a couple of years ago during the real estate boom, it has picked up dramatically from the recession in 2009. In Calgary, for the first quarter of this year, 67 upper-end properties valued at more than $1 million were sold compared with 35 during the same period la ... Full Article...

posted in News at Wed, 28 Apr 2010 10:53:24 -0600

Wednesday, April 21, 2010 - London-esque streets meet Spanish style-calgary herald

Calgary's new plan for its inner-city West Village take cues from western Europe, with features inspired by Rome and Barcelona, as well as London's most famous traffic-control device. The ambitious, long-range redevelopment plan for the area across 11th Street S.W. from downtown aims to reinvent a commuter raceway accented by car dealerships into a popular and pedestrian-friendly district that's home to thousands of urban denizens -- all while keeping traffic flowing in and out of the core. A ... Full Article...

posted in News at Wed, 21 Apr 2010 15:04:18 -0600

Tuesday, April 20, 2010 - Canadians not worried about higher mortgage: report-calgary herald

CALGARY - Canadian mortgage holders seem unconcerned about higher borrowing costs. New research by Investors Group reveals that Canadian mortgage holders may be overly confident that they can take higher borrowing costs in stride, and that mortgage payments won't be an obstacle to retirement. According to Statistics Canada, more than 4.8 million Canadian adults hold a mortgage. In a recent poll of Canadian homeowners who have a mortgage, 35 per cent of respondents say they are not concerned a ... Full Article...

posted in News at Tue, 20 Apr 2010 11:01:45 -0600

Tuesday, April 20, 2010 - Location, location, location crucial to first-time home buyers: Survey-calgary herald

CALGARY - In residential real estate, there's an old saying about how location is an important factor in any purchase - besides the price of course. A BMO Bank of Montreal survey, released today, says that among current and future first-time home owners, location is the main reason they would consider offering more than the asking price for a home. The survey found that: • 70 per cent of current home owners would consider offering more for a home based on its location • 63 per c ... Full Article...

posted in News at Tue, 20 Apr 2010 11:00:27 -0600

Monday, April 12, 2010 - Calgary housing rises across the board: survey-calgary herald

Improved consumer confidence is helping push up housing prices in Calgary ahead of rising interest rates, a report by Royal LePage said Thursday. In it first-quarter survey, Calgary home prices across all categories were higher than the same period last year, the realtor said. Price increases varied widely, with some year-over-year jumps of more than 25 per cent for two-storey homes in some of the north inner-city neighbourhoods. "What you're seeing in some cases are spikes that are a result ... Full Article...

posted in News at Mon, 12 Apr 2010 13:04:57 -0600

Monday, April 12, 2010 - Calgary housing starts surged in March: calgary herald

CALGARY - Housing starts in the Calgary census metropolitan area ballooned in March compared with year-ago levels. According to preliminary figures released today by Canada Mortgage and Housing Corp., total housing starts in the Calgary CMA reached 904 units in March, up from 297 units in the previous year. To the end of March, total housing starts increased from 746 units in 2009 to 2,161 units in 2010. In March, single-detached production was over three times higher with 570 units breaking ... Full Article...

posted in News at Mon, 12 Apr 2010 13:03:15 -0600

Thursday, March 18, 2010 - What will happen to Toronto's real estate market?-globe and mail

An economic storm has swept through the Toronto area housing market. How has your neighbourhood stood up to the tempest? After a brutal winter in the resale homes market, March saw a modest revival: year-over-year sales were still down seven per cent, but that was the smallest decline in five months. The average resale house price in March - $362,052, according to the Toronto Real Estate Board - is now on a par with levels in mid-2006, this after dropping off a frothy high of $398,687 in April ... Full Article...

posted in News at Thu, 18 Mar 2010 12:20:51 -0600

Thursday, March 18, 2010 - Calgary's Palliser tower set for tenants-calgary herald

CALGARY - When construction on the Palliser South office tower began about three years ago, the city's economy was booming and the downtown core's vacancy rate was minuscule. Today, the economy is slowly recovering from last year's brutal recession and the office vacancy rate continues to rise. In this environment, the new 300,000-square-foot, 19-storey Palliser South, just east of the Calgary Tower, is now ready for occupancy, with about 35 per cent of the space already leased. "The issue with ... Full Article...

posted in News at Thu, 18 Mar 2010 12:17:58 -0600

Thursday, March 18, 2010 - Housing affordability in Alberta improves, bucks national trend Read more - calgary herald

CALGARY - Housing affordability improved in Alberta in the fourth quarter of last year amid slower economic recovery, compared with other regions across the country, according to the latest housing report released today by RBC Economics. "The downturn in the housing market has created a large surplus of homes available for sale. This has held back the pace of price increases in the province since the market rebound took effect," said Robert Hogue, senior economist, RBC. "This subdued pace has k ... Full Article...

posted in News at Thu, 18 Mar 2010 12:16:44 -0600

Monday, March 15, 2010 - Housing affordability in Alberta improves, bucks national trend Read more-calgary herald

CALGARY - Housing affordability improved in Alberta in the fourth quarter of last year amid slower economic recovery, compared with other regions across the country, according to the latest housing report released today by RBC Economics. "The downturn in the housing market has created a large surplus of homes available for sale. This has held back the pace of price increases in the province since the market rebound took effect," said Robert Hogue, senior economist, RBC. "This subdued pace has ... Full Article...

posted in News at Mon, 15 Mar 2010 09:38:48 -0600

Monday, March 15, 2010 - February home sales in Calgary up 37% over year ago: report Read more - calgary herald

CALGARY - Housing markets across the country are becoming more balanced with average prices continuing to rise as well as new listings, says the Canadian Real Estate Association. The national association of realtors released today its February MLS numbers for Canada, showing sales up by 44 per cent from a year ago with new listings increasing by just over 10 per cent and the average sale price up 18.2 per cent to $335,655. “There are still a number of major markets where sales negot ... Full Article...

posted in News at Mon, 15 Mar 2010 09:37:26 -0600

Monday, March 15, 2010 - Home sales decline in February-calgary herald

OTTAWA — Home resales in Canada fell in February from the previous month, with the biggest drop recorded in Vancouver, the Canadian Real Estate Association said Monday. The February declined in Vancouver was offset by "an equally large gain" in Toronto, CREA said. The industry group said 42,799 units sold on a seasonally adjusted basis in February, down 1.5 per cent from the previous month, reflecting how "national sales activity has slowed while new listings continue to rise, resulting ... Full Article...

posted in News at Mon, 15 Mar 2010 09:34:43 -0600

Wednesday, March 10, 2010 - Monthly housing starts make big jump in Calgary: survey-calgary herald

CALGARY - Total housing starts in the Calgary census metropolitan area are up by an incredible amount in February compared with a year ago — an indication of how far the economy had fallen at the beginning of 2009. According to preliminary figures released today by Canada Mortgage and Housing Corp., total starts reached 743 units last month in the Calgary CMA, up substantially from 206 units in the previous year. Single-detached starts jumped to 545 units compared with 184 a year ago wh ... Full Article...

posted in News at Wed, 10 Mar 2010 10:08:42 -0700

Wednesday, March 10, 2010 - Albertans most optimistic about housing market: RBC survey-calgary herald

CALGARY - Albertans are the most likely to say they are very likely to buy a home in the next two years, says the 17th Annual RBC Homeownership Survey. The survey also indicated 92 per cent of respondents believe that buying a home is a good investment. Among those looking to buy they are also the most likely (40 per cent) to say they will buy within the next year. RBC says respondents cite good housing prices, favourable interest rates and the opportunity to buy a home as an investment or se ... Full Article...

posted in News at Wed, 10 Mar 2010 10:07:30 -0700

Tuesday, March 9, 2010 - Monthly housing starts make big jump in Calgary: survey Read more - calgary herald

CALGARY - Total housing starts in the Calgary census metropolitan area are up by an incredible amount in February compared with a year ago — an indication of how far the economy had fallen at the beginning of 2009. According to preliminary figures released today by Canada Mortgage and Housing Corp., total starts reached 743 units last month in the Calgary CMA, up substantially from 206 units in the previous year. Single-detached starts jumped to 545 units compared with 184 a year ago wh ... Full Article...

posted in News at Tue, 09 Mar 2010 09:47:24 -0700

Monday, March 8, 2010 - Housing bolsters building permits-calgary herald

A steady rise in the residential sector has sparked an increase in the estimated construction value of building permit applications in Calgary last month. The City of Calgary said Friday the construction value in February rose by 27 per cent compared with a year ago from $150 million to $190 million. But the construction value is off by 38 per cent compared with the fiveyear average of $307 million and also down 19 per cent from the 10-year average of $237 million. David Watson, general manag ... Full Article...

posted in News at Mon, 08 Mar 2010 09:41:29 -0700

Friday, March 5, 2010 - British buyers yet to warm to green home buzz - algary herald

The British building industry wants to ease green home standards as the public balk at the 20 percent or higher costs of low-carbon homes, exhibitors told a major London conference this week. Low carbon homes are more airtight than their conventional counterparts, with better insulation, and rely on renewable sources of power generation such as roof-top solar panels or community-scale plants converting food and other waste into energy. In more extreme examples of green homes, door-mounted lett ... Full Article...

posted in News at Fri, 05 Mar 2010 12:41:08 -0700

Thursday, March 4, 2010 - Surprise drop in U.S. pending home sales-calgary herald

he National Association of Realtors said its Pending Home Sales Index, based on contracts signed in January, fell 7.6% to 90.4 from an upwardly revised 97.8 in December

posted in News at Thu, 04 Mar 2010 11:12:23 -0700

Thursday, March 4, 2010 - Rise in housing starts will keep lid on prices in 2010: CMHC Read more - calgaery herald

OTTAWA -- Housing starts will rise in 2010, putting a lid on home prices this year following their 19 per cent surge in 2009, the Canada Mortgage and Housing Corporation said Tuesday. Between 152,000 to 189,300 housing starts are expected in 2010, up from 149,081 units last year, the national housing agency said. Describing the current state of affairs as a sellers' market, CMHC said the relative lack of new listings for existing homes has pushed some of the demand into the new home market, wh ... Full Article...

posted in News at Thu, 04 Mar 2010 11:10:36 -0700

Wednesday, March 3, 2010 - Rise in housing starts will keep lid on prices in 2010: CMHC Read more - calgary herald

OTTAWA -- Housing starts will rise in 2010, putting a lid on home prices this year following their 19 per cent surge in 2009, the Canada Mortgage and Housing Corporation said Tuesday. Between 152,000 to 189,300 housing starts are expected in 2010, up from 149,081 units last year, the national housing agency said. Describing the current state of affairs as a sellers' market, CMHC said the relative lack of new listings for existing homes has pushed some of the demand into the new home market, wh ... Full Article...

posted in News at Wed, 03 Mar 2010 10:41:25 -0700

Tuesday, March 2, 2010 - Rise in housing starts will keep lid on prices in 2010: CMHC Read more - calgary herald

OTTAWA -- Housing starts will rise in 2010, putting a lid on home prices this year following their 19 per cent surge in 2009, the Canada Mortgage and Housing Corporation said Tuesday. Between 152,000 to 189,300 housing starts are expected in 2010, up from 149,081 units last year, the national housing agency said. Describing the current state of affairs as a sellers' market, CMHC said the relative lack of new listings for existing homes has pushed some of the demand into the new home market, wh ... Full Article...

posted in News at Tue, 02 Mar 2010 10:31:27 -0700

Tuesday, March 2, 2010 - CMHC forecasting boost to new, resale housing markets in Calgary Read more - calgary herald

Canada Mortgage and Housing Corp. is forecasting increases in both the new home and resale housing markets this year and next year in Calgary and in Alberta. In releasings its updated market forecast today, CMHC said the Calgary census metropolitan area will see total housing starts rise by 20.3 per cent this year to 7,600 units followed by a 21.1 per cent hike in 2011 to 9,200 units. MLS sales in the Calgary area are expected to climb by 10.9 per cent to 27,400 this yearand another 3.3 pe ... Full Article...

posted in News at Tue, 02 Mar 2010 10:29:52 -0700

Tuesday, March 2, 2010 - Home sales, and prices, rise in Calgary - calgary herald

CALGARY - The local housing market showed signs of balance, not a bubble, in February, according to the Calgary Real Estate Board. In releasing its official MLS numbers for the month, the board said sales and average prices increased in both the single-family home and condominium markets compared with year-ago levels. "We're just pretty steady and we're getting some momentum, but that's fairly typical in a normal year and I don't even compare it to last year because last year wasn't a normal y ... Full Article...

posted in News at Tue, 02 Mar 2010 10:28:10 -0700

Friday, February 26, 2010 - U.S. existing home sales unexpectedly plunge- calgary herald

WASHINGTON -- Sales of previously owned homes in the United States unexpectedly plunged in January, an industry survey showed on Friday, fresh evidence the housing market has yet to find stable ground. The National Association of Realtors said sales fell 7.2% from December’s level to an annual rate of 5.05 million units, sharply below market expectations for a 5.50 million unit pace. December sales were revised slightly lower to a 5.44 million pace from 5.45 million units. Compared with a ... Full Article...

posted in News at Fri, 26 Feb 2010 12:20:23 -0700

Wednesday, February 24, 2010 - Calgary to face 'very active' spring housing market as economy improves -calgary herald

CALGARY - Calgary will experience a "very active" spring housing market as an improved economic outlook combined with record low interest rates and affordable housing are "fuelling recovery" in residential real estate sales, says a report released today by Re/Max. "The supply of detached homes is beginning to tighten, with multiple offers becoming more prevalent in hot pockets throughout the city, particularly well-priced, entry-level product," said the Re/Max Market Trends Report 2010. "Fi ... Full Article...

posted in News at Wed, 24 Feb 2010 10:43:36 -0700

Wednesday, February 24, 2010 - Calgary-area racing complex selling land to raise funds -calgary herald

CALGARY - Developers of the multi million-dollar racetrack and entertainment complex in Balzac are selling some of the land to raise money after seeking creditor protection last fall. The United Horsemen of Alberta has 11.57 hectares of land for sale, the Herald has learned. It's part of a plan, which included previous land sales, to raise money so the project can proceed. Recently, the group reached an agreement with its largest creditor, Ivanhoe Cambridge to forgive its current and future ind ... Full Article...

posted in News at Wed, 24 Feb 2010 10:42:11 -0700

Tuesday, February 23, 2010 - New mortage rules good news for rental market, Boardwalk CEO says -calgary herald

CALGARY - Boardwalk Real Estate Investment Trust, the country’s biggest landlord, believes the rental market should eventually benefit from recent changes to homebuying rules. Ottawa’s move earlier this week to raise downpayments on investment properties should help ease the glut of condominiums on the market, said chief executive Sam Kolias. “Over time this should reduce the amount speculative construction of condominiums and hopefully provide a more balanced marketplace,&rdq ... Full Article...

posted in News at Tue, 23 Feb 2010 12:10:53 -0700

Monday, February 8, 2010 - Competition czar targets real estate fees-calgary herald

OTTAWA - Canada’s competition czar took aim at the Canadian Real Estate Association on Monday to try to make it cheaper for consumers to list their homes on the Multiple Listing Service (MLS). The Competition Bureau is asking the Competition Tribunal to strike down rules imposed by the association on people wanting to use the MLS system, which require them to use additional services they might not want. Melanie Aitken, the competition commissioner, said that if the rules were struck down, ... Full Article...

posted in News at Mon, 08 Feb 2010 16:04:32 -0700

Monday, February 8, 2010 - CREA forecasts record home market this year-calgary herald

Canadian real estate sales and prices are poised to set records this year, according to a new forecast that is bound to reignite calls in some quarters for tighter lending rules. The Canadian Real Estate Association, which represents 100 boards across the country, said Monday it expects existing-home sales to reach 527,300, a 13.3% increase from a year ago and a 1.2% increase from the record high set in 2007. The new-home market appears to be picking up steam, too. Canada Mortgage and Housing C ... Full Article...

posted in News at Mon, 08 Feb 2010 16:02:55 -0700

Friday, February 5, 2010 - The ultimate world-class condo- calgary sun

The most expensive condo in Asia — perhaps the world — recently sold for ... wait for it ... more than $51 million! The 5,636-sq-ft. ‘semi-duplex’ is situated on Conduit Road in the Mid-Levels area of Hong Kong. At just over $9,000 per sq. ft., one would expect this home to have it all and it does. Included in the price tag — and the quoted gross floor area — is a 96-sq.-ft. window seat, 98-sq.-ft. air conditioning area and 1,124 sq. ft. of common area. And y ... Full Article...

posted in News at Fri, 05 Feb 2010 09:39:45 -0700

Friday, February 5, 2010 - Calgary builders make Fast 50 list-calgary sun

Alberta Venture Magazine has released it’s Fast 50 list, and two Calgary area builders have cracked the top 25 companies over $20 million. Classic Construction Ltd. (CCL) came in at 15, making the list for the 4th year in a row, while Homes by Avi took the No. 13 spot. “It’s based on 2008 numbers, and the comparative is before the boom of 2005, so it’s cumulative growth from 2005 to 2008, which takes into account the huge growth that happened between the boomyears of 200 ... Full Article...

posted in News at Fri, 05 Feb 2010 09:37:55 -0700

Thursday, February 4, 2010 - Non-residential growth pushes building permits spurt in Calgary-calgary herald

CALGARY - A boom in office tower building permit applications in Alberta and Ontario in December helped boost the national construction planning toll to $6.2 billion, 2.4 per cent higher than November and 32.6 per cent higher than in December 2008. Statistics Canada reported Thursday that non-residential permits were entirely responsible for the month-over-month increase, as they climbed to a seasonally adjusted $2.286 billion from $2.139 billion in November. In December of 2008, they tallied $ ... Full Article...

posted in News at Thu, 04 Feb 2010 14:23:42 -0700

Thursday, February 4, 2010 - Commercial real estate sector in line for dip-calgary herald

TORONTO/BANGALORE - Canada’s commercial real estate sector is set to see a dip in year-over-year funds from operations, largely as a result of recent capital raisings and softer property conditions. Owners of office, retail, industrial and residential space begin the fourth-quarter reporting season Friday, when Brookfield Properties posts its results. One of Manhattan’s biggest landlords, Brookfield is expected to report lower funds from operations — a real estate benchmark th ... Full Article...

posted in News at Thu, 04 Feb 2010 14:21:53 -0700

Wednesday, February 3, 2010 - Prized Calgary Currie Barracks lots to go on sale-calgary herald

CALGARY - It's one of the most highly anticipated residential urban developments in Calgary and on Thursday sales are expected to begin for a small number of lots at the Currie Barracks. It's all part of the first phase of a major redevelopment at the former military site that proponents say will create a marquee place to live and work. It's also a major step in the conversion of the former CFB Calgary. A small number of upscale "estate" lots for yet-to-be built homes are expected to go on sale ... Full Article...

posted in News at Wed, 03 Feb 2010 11:41:35 -0700

Wednesday, February 3, 2010 - Double dip seen for U.S. housing-calgary herald

U.S. housing prices are headed for a double dip decline that will hurt related equities which have already priced in a recovery in the sector, CIBC warns. “Many companies will be affected,” said economist Benjamin Tal, who declined to mention specific names but argued that sectors from forestry to banking could be dragged into the downturn. The reason, he said, is that any current stabilization in U.S. housing is more a function of a badly damaged market and the distorting affect of ... Full Article...

posted in News at Wed, 03 Feb 2010 11:39:06 -0700

Tuesday, February 2, 2010 - Calgary housing market extends gradual recovery-calgary herald

CALGARY - Home sales and prices in Calgary continue to make gains, marking another rise in January. But the housing market slowed slightly from December’s pace, according to figures released Monday by the Calgary Real Estate Board. The city’s housing market is expected to continue a “gradual and modest” recovery, one official said, helped by low mortgage rates and more affordable prices coaxing buyers into the sector. “Just one year ago, we were facing record low s ... Full Article...

posted in News at Tue, 02 Feb 2010 13:08:56 -0700

Tuesday, February 2, 2010 - Ebbing U.S. home sales hint prices may fall-calgary herald

NEW YORK - A recent decline of U.S. home sales is swelling the supply of houses and may push prices down, adding to losses from an earlier three-year slide, said rating agency Standard & Poor’s in a statement Friday. “While home prices have been trending up since spring 2009, existing, new and pending home sales are waning, which suggests that lower prices are on the horizon,” said the statement. Market analysts and policy-makers at the Federal Reserve are closely watching the ... Full Article...

posted in News at Tue, 02 Feb 2010 13:05:42 -0700

Monday, February 1, 2010 - Ebbing U.S. home sales hint prices may fall-calgary herald

NEW YORK - A recent decline of U.S. home sales is swelling the supply of houses and may push prices down, adding to losses from an earlier three-year slide, said rating agency Standard & Poor’s in a statement Friday. “While home prices have been trending up since spring 2009, existing, new and pending home sales are waning, which suggests that lower prices are on the horizon,” said the statement. Market analysts and policy-makers at the Federal Reserve are closely watching the ... Full Article...

posted in News at Mon, 01 Feb 2010 12:22:01 -0700

Monday, February 1, 2010 - Home prices make strides in November-calgary herald

OTTAWA — A measure of home prices in major Canadian markets was up in November compared with a year earlier for the second straight month. The Teranet-National Bank home index, released Wednesday, was up 2.6 per cent on an annual basis for November. The last two gains followed prices being down on a year-over-year basis for 10 straight months. The latest gains put the overall index just 0.1 per cent shy of its peak in August 2008. The index has been up on a monthly basis seven consecutive ... Full Article...

posted in News at Mon, 01 Feb 2010 12:19:07 -0700

Monday, February 1, 2010 - Fall in U.S. new home sales fans fears on recovery-calgary herald

Sales of newly built U.S. single-family homes fell unexpectedly in December as the bounce from an initial tax credit fizzled, the latest sign that the government-led housing recovery might be losing some steam. The government report Wednesday came in the wake of a report showing a plunge last month in sales of previously owned homes and continued decline in sentiment among homebuilders, which could bode ill for the broader economic recovery. New home sales fell 7.6 percent to a 342,000 unit ann ... Full Article...

posted in News at Mon, 01 Feb 2010 12:17:46 -0700

Friday, January 29, 2010 - How much do your neighbours owe on their mortgage?-globe and mail

One of the economic conundrums of the past year has been the great divergence in the Canadian and U.S. housing markets. While American home prices swooned in 2009, the Canadian market only stumbled before resuming its inexorable climb upward. As Barrie McKenna reported in The Globe and Mail recently, there are two schools of thought as to what’s behind this discrepancy. One suggests that Canada, with its fiscally sound banks, simply avoided the bubble. The other, bruited by David Rosenber ... Full Article...

posted in News at Fri, 29 Jan 2010 09:55:37 -0700

Friday, January 29, 2010 - Calgary headed for office real estate crisis -globe

The city that most personified the exuberance of the commodities boom is set to lose its crown as the most expensive office market in the country. Calgary will likely cede the priciest spot to Vancouver next fall, as a looming glut of supply - including a one-million-square-foot tower currently under construction that has yet to lease a single tenant - threatens to send its vacancy rate soaring to 18 per cent by 2011, according to an analysis by CB Richard Ellis Inc., the world's largest commer ... Full Article...

posted in News at Fri, 29 Jan 2010 09:53:12 -0700

Friday, January 29, 2010 - Shop around for mortgage rates-calgary sun

First-time buyers comprised 30% to 35% of the new home buying market last year, taking advantage of low mortgage rates and builder price reductions and incentives. With the announcement by the Bank of Canada last week it is holding its key overnight rate at 0.25%, the favourable buying environment should stay in effect for several months at least. “We have a great fixed, five-year rate right now at 3.99%,” says Gar y Seigle, regional manager in Calgary for national mortgage broker I ... Full Article...

posted in News at Fri, 29 Jan 2010 09:49:30 -0700

Friday, January 29, 2010 - Home prices make strides in November-calgary herald

OTTAWA — A measure of home prices in major Canadian markets was up in November compared with a year earlier for the second straight month. The Teranet-National Bank home index, released Wednesday, was up 2.6 per cent on an annual basis for November. The last two gains followed prices being down on a year-over-year basis for 10 straight months. The latest gains put the overall index just 0.1 per cent shy of its peak in August 2008. The index has been up on a monthly basis seven consecutive ... Full Article...

posted in News at Fri, 29 Jan 2010 09:46:55 -0700

Thursday, January 28, 2010 - Home prices make strides in November-calgary herald

OTTAWA — A measure of home prices in major Canadian markets was up in November compared with a year earlier for the second straight month. The Teranet-National Bank home index, released Wednesday, was up 2.6 per cent on an annual basis for November. The last two gains followed prices being down on a year-over-year basis for 10 straight months. The latest gains put the overall index just 0.1 per cent shy of its peak in August 2008. The index has been up on a monthly basis seven consecutive ... Full Article...

posted in News at Thu, 28 Jan 2010 13:35:57 -0700

Thursday, January 28, 2010 - Fall in U.S. new home sales fans fears on recovery-calgary herald

Sales of newly built U.S. single-family homes fell unexpectedly in December as the bounce from an initial tax credit fizzled, the latest sign that the government-led housing recovery might be losing some steam. The government report Wednesday came in the wake of a report showing a plunge last month in sales of previously owned homes and continued decline in sentiment among homebuilders, which could bode ill for the broader economic recovery. New home sales fell 7.6 percent to a 342,000 unit ann ... Full Article...

posted in News at Thu, 28 Jan 2010 13:34:04 -0700

Wednesday, January 27, 2010 - U.S. home prices dip in November-calgary herald

NEW YORK - U.S. home prices slipped in November and were softer than expected in the latest sign that a rebound in the U.S. housing market is still tenuous, according to Standard & Poor’s/Case-Shiller indexes on Tuesday. The S&P composite index of home prices in 20 metropolitan areas slipped 0.2 per cent in November after a revised 0.1 per cent October dip, for a 5.3 per cent annual drop. A Reuters survey had forecast a 0.1 per cent November rise. Prices were originally reported as unchan ... Full Article...

posted in News at Wed, 27 Jan 2010 13:24:24 -0700

Wednesday, January 27, 2010 - Calgary home ownership becoming more affordable-calgary herald

Calgary housing became slightly more affordable in 2009, but it's still just the 23rd most affordable place to own a home from a list of 28 Canadian cities, according to the Winnipeg-based Frontier Centre for Public Policy. In a study released Monday, the centre found Thunder Bay and Windsor, both in Ontario, were tied for most affordable Canadian cities and Vancouver was the least affordable. In fact, Vancouver was also the least affordable among the 272 cities in the international study, whic ... Full Article...

posted in News at Wed, 27 Jan 2010 13:23:07 -0700

Wednesday, January 27, 2010 - Fall in U.S. new home sales fans fears on recovery-calgary herald

Sales of newly built U.S. single-family homes fell unexpectedly in December as the bounce from an initial tax credit fizzled, the latest sign that the government-led housing recovery might be losing some steam. The government report Wednesday came in the wake of a report showing a plunge last month in sales of previously owned homes and continued decline in sentiment among homebuilders, which could bode ill for the broader economic recovery. New home sales fell 7.6 percent to a 342,000 unit ann ... Full Article...

posted in News at Wed, 27 Jan 2010 13:21:46 -0700

Tuesday, January 26, 2010 - Affordable living in Vancouver is 270 sq. ft. in Downtown Eastside-calgary herald

The newest entry into affordable living in downtown Vancouver comes with rents starting at $675 -- for an apartment about the size of two parking spaces. The newly redone bachelor apartments are in a heritage building, the previously condemned, 100-year-old Burns Block in the troubled Downtown Eastside. The suites, at 270 square feet, are being called "micro lofts" and are the smallest self-contained rental suites in the city. They will be available in March 2011. Renters get their own bathroom ... Full Article...

posted in News at Tue, 26 Jan 2010 14:41:57 -0700

Tuesday, January 26, 2010 - U.S. home sales tumble as boost from tax credit wanes-calgary herald

WASHINGTON - Sales of previously owned U.S. homes suffered a record drop last month as the boost from a popular tax credit waned, raising doubts the housing market recovery can be sustained without government support. The National Association of Realtors said Monday that existing home sales fell 16.7 per cent in December to an annual rate of 5.45 million units. It was the sharpest decline on records dating to 1968 and the slowest sales pace since August. Analysts had expected a less severe drop ... Full Article...

posted in News at Tue, 26 Jan 2010 14:40:03 -0700

Tuesday, January 26, 2010 - Calgary home ownership becoming more affordable-calgary herald

Calgary housing became slightly more affordable in 2009, but it's still just the 23rd most affordable place to own a home from a list of 28 Canadian cities, according to the Winnipeg-based Frontier Centre for Public Policy. In a study released Monday, the centre found Thunder Bay and Windsor, both in Ontario, were tied for most affordable Canadian cities and Vancouver was the least affordable. In fact, Vancouver was also the least affordable among the 272 cities in the international study, whic ... Full Article...

posted in News at Tue, 26 Jan 2010 14:34:58 -0700

Monday, January 25, 2010 - Calgary resale home prices to simmer in '10-calgary herald

CALGARY - In two years, Calgary's resale real estate market has gone from "sizzle to fizzle to simmer," incoming Calgary Real Estate Board president Diane Scott said Wednesday. Aff ordability and low interest rates will keep the pot slowly boiling this year, creating modest growth in sales and prices, she predicted as the board hosted its annual forecast conference. A panel of economists mostly concurred with the board's projection of a continuation of the gradual recovery experienced in the se ... Full Article...

posted in News at Mon, 25 Jan 2010 10:40:25 -0700

Monday, January 25, 2010 - Housing starts jump in December-calgary herald

OTTAWA -- Housing starts were up in most parts of the country outside the Atlantic Provinces in December, according to a report released Monday by the Conference Board of Canada. The report on metropolitan housing starts report showed a year-over-year increase in 17 of the 27 areas studied. Some of the biggest jumps were in London, Ont., where starts went from 826 in December 2008 to 3,259 in 2009; Saskatoon, which went from 916 to 2,285; Edmonton, where starts took a year-over-year leap from 4 ... Full Article...

posted in News at Mon, 25 Jan 2010 10:37:57 -0700

Friday, January 15, 2010 - Home construction on the rise in Calgary-calgary herald

Calgary's home-building industry rebounded strongly in December, starting construction on nearly twice as many single-family dwellings as in the same month of 2008. Canada Mortgage and Housing Corp. reported Monday that total housing starts in the Calgary area reached 657 units last month, up from 403 units in December 2008. In December, 559 singledetached homes broke ground, representing an increase of 98 per cent from the 283 units started in December 2008. There were 98 multifamily units c ... Full Article...

posted in News at Fri, 15 Jan 2010 10:27:15 -0700

Thursday, January 14, 2010 - New home prices rise for fifth straight month-calgary herald

OTTAWA — New home prices rose more than expected in November, posting a 0.4 per cent advance for a fifth straight monthly gain, Statistics Canada reported Tuesday. Most economists had forecast a 0.3 per cent month-over-month advance. On a yearly basis, prices fell 1.4 per cent in November following a 2.1 per cent decline in October. The pick up in new housing prices follows news Monday from Canada Mortgage and Housing Corp. that housing starts staged a broad-based advance in November, ... Full Article...

posted in News at Thu, 14 Jan 2010 12:03:46 -0700

Monday, January 4, 2010 - Calgary housing recovery gains traction-calgary herald

CALGARY - The number of home resales in Calgary in December will easily trump the same month last year, but is unlikely to beat the pace set in December 2007, preliminary statistics indicate. But month-to-date numbers through Wednesday show the Calgary area's resale price recovery continues, with the average single-family home selling for $451,443 in December, an increase of eight per cent, or $34,000, over December 2008 and a slight improvement of about $6,000 over $444,769 in December 2007. ... Full Article...

posted in News at Mon, 04 Jan 2010 10:47:35 -0700

Monday, January 4, 2010 - Low rates rated high-calgary sun

Looking back at how 2009 treated the new home building industry in Calgary, Bill Bobyk, of the Sterling Group of Companies, summed it up very well, saying “Nobody could have predicted how this year turned out.” At this time last year, predictions for the health of the industry were dire, but about the time spring arrived, the market blossomed, growing ever stronger through the summer and fall. Three key factors were at play: Pent-up demand from buyers who disappeared when the econ ... Full Article...

posted in News at Mon, 04 Jan 2010 10:40:56 -0700

Wednesday, December 23, 2009 - U.S. home sales jump 7.4 per cent

WASHINGTON - Sales of U.S. existing homes surged 7.4 per cent in November to the highest level since February 2007, as buyers rushed to take advantage of tax credits, industry figures showed Tuesday. The National Association of Realtors said sales rose to a seasonally adjusted annual rate of 6.54 million units in November from 6.09 million in October. This is 44.1 per cent higher than the depressed levels of November 2008 and best since February 2007. The group said buying was sparked by a r ... Full Article...

posted in News at Wed, 23 Dec 2009 10:35:31 -0700

Wednesday, December 23, 2009 - Calgary builders face higher levies for subdivision costs-calgary herald

CALGARY - Mayor Dave Bronconnier says he wants developers to pay significantly higher levies to help offset the costs of servicing new subdivisions. A city report this summer said land developers pay less than half the costs of building roads, sewer lines, fire halls and other services for their suburbs. City hall and the industry will start negotiations next month to replace the five-year agreement that sets those levies and soon expires. Bronconnier said the gap should close between what t ... Full Article...

posted in News at Wed, 23 Dec 2009 10:33:31 -0700

Wednesday, December 23, 2009 - Ottawa set to tackle housing bubble-calgary herald

T he federal government is ready to clamp down further on mortgage rules if the boom in the Canadian housing market turns into a bubble, says Finance Minister Jim Flaherty. In an exclusive interview and Global National, Flaherty said the government is closely monitoring the red-hot housing market for signs it is reaching "irrational" levels. "The reality is we have low mortgage rates . . . so we can expect some upward pressure on housing," he said. "That's OK, as long as it doesn't become a ... Full Article...

posted in News at Wed, 23 Dec 2009 10:30:36 -0700

Monday, December 21, 2009 - Flaherty warns on mortgage rules - globe and mail

He says the likely measures the government will take is to increase the size of the down payment from 5 per cent “to a higher figure” and to reduce the amortization period “from a maximum of 35 years to something less.” Those measures would increase the monthly payments, making it more difficult for some people to take on a mortgage and purchase a home, without having to increase the interest rate. Last week, the central bank warned that when interest rates rise to nor ... Full Article...

posted in News at Mon, 21 Dec 2009 10:14:12 -0700

Monday, December 21, 2009 - Ottawa set to tackle housing bubble- calgary herald

T he federal government is ready to clamp down further on mortgage rules if the boom in the Canadian housing market turns into a bubble, says Finance Minister Jim Flaherty. In an exclusive interview and Global National, Flaherty said the government is closely monitoring the red-hot housing market for signs it is reaching "irrational" levels. "The reality is we have low mortgage rates . . . so we can expect some upward pressure on housing," he said. "That's OK, as long as it doesn't become a ... Full Article...

posted in News at Mon, 21 Dec 2009 10:06:10 -0700

Friday, December 18, 2009 - Economist warns homeowners of bubble trouble-calgary herald

TORONTO - Economist and author Jeff Rubin, who predicted the bursting of Canada’s last major housing bubble, warns many Canadians will soon regret the hefty prices they’re paying to enter the property market. The often controversial former chief economist of CIBC World Markets says there’s another bubble building — in interest rates -— which could be on the rise by the end of next year. That will squeeze homeowners who took out variable-rate mortgages, betting the ... Full Article...

posted in News at Fri, 18 Dec 2009 14:30:32 -0700

Friday, December 18, 2009 - Stand by for a mega moving day -The Globe And Mail

The next two years promise to reshape the look and feel of the Greater Toronto Area in ways probably not felt since the building boom of the 1970s. Then, we went out. This time, we are going up. At the same time, the Toronto area is about to have its own exodus – inward not out. Quiet suburban neighbourhoods are about to vibrate with new life. Old, once-neglected industrial areas in the city core are about to be transformed into mini-villages. Record condo sales in 2007 and the early m ... Full Article...

posted in News at Fri, 18 Dec 2009 11:51:57 -0700

Friday, December 18, 2009 - Calgary's rental market cooling: CMHC-calgary herald

CALGARY - Calgary’s vacancy rate has nearly doubled in the past year, pushing down rental rates, Canada Mortgage and Housing Corp. said Wednesday. The apartment vacancy rate in the Calgary region rose to 5.3 per cent in October, up from 2.1 per cent the previous year. That’s the highest level since 1993. It was also one of the highest rates in the country, and nearly double the national rate of 2.8 per cent, the agency said. Average rents for a two-bedroom unit in Calgary fell to ... Full Article...

posted in News at Fri, 18 Dec 2009 11:24:38 -0700

Thursday, December 17, 2009 - Calgaryâ??s ahead in building green-calgary sun

With the big chin wag going on in Copenhagen about (take your pick): 1: Global warming; 2: Climate change, or; 3; Climategate conspiracy theories, it is timely to address what new home builders are doing to be eco-friendly. A report commissioned by the Canadian Home Builders Association awhile back showed energy consumption as a whole in Canada increased 21% between 1990 and 2006, and yet green house gas emissions in the residential sector decreased 8.5% in the same period. The decrease came ... Full Article...

posted in News at Thu, 17 Dec 2009 10:58:54 -0700

Thursday, December 17, 2009 - Calgary's rental market cooling: CMHC-calgary herald

CALGARY - Calgary’s vacancy rate has nearly doubled in the past year, pushing down rental rates, Canada Mortgage and Housing Corp. said Wednesday. The apartment vacancy rate in the Calgary region rose to 5.3 per cent in October, up from 2.1 per cent the previous year. That’s the highest level since 1993. It was also one of the highest rates in the country, and nearly double the national rate of 2.8 per cent, the agency said. Average rents for a two-bedroom unit in Calgary fell to ... Full Article...

posted in News at Thu, 17 Dec 2009 10:55:49 -0700

Wednesday, December 16, 2009 - Calgaryâ??s ahead in building green-calgary sun

With the big chin wag going on in Copenhagen about (take your pick): 1: Global warming; 2: Climate change, or; 3; Climategate conspiracy theories, it is timely to address what new home builders are doing to be eco-friendly. A report commissioned by the Canadian Home Builders Association awhile back showed energy consumption as a whole in Canada increased 21% between 1990 and 2006, and yet green house gas emissions in the residential sector decreased 8.5% in the same period. The decrease came ... Full Article...

posted in News at Wed, 16 Dec 2009 10:18:21 -0700

Wednesday, December 16, 2009 - Silver Dollar Casino in Calgary sold for $10.6 million-calgary herald

CALGARY - The Silver Dollar Casino is poised to usher in 2010 under a new owner, as international player Century Casinos, Inc. strikes an agreement to acquire the one-time gaming hot spot lock, stock and barrel. In a transaction pegged at $10.6 million US, Colorado-based Century said its Austrian subsidiary will acquire all of the outstanding common stock of Frank Sisson’s Silver Dollar Ltd., as well as 100 per cent of the outstanding common stock of the EGC Properties Ltd., owner of the ... Full Article...

posted in News at Wed, 16 Dec 2009 10:10:33 -0700

Monday, December 14, 2009 - Canada's new home prices rise less than expected-calgary herald

OTTAWA -- Prices for new homes in Canada rose 0.3% in October after a 0.5% increase the previous month, Statistics Canada said Friday. It was the fourth straight monthly gain in the federal agency’s new-home price index, although the increase was slightly below the 0.4% many economists had expected. The biggest price increase was in Quebec City, up 1.1%, followed by Vancouver, up 0.7%.

posted in News at Mon, 14 Dec 2009 16:19:39 -0700

Monday, December 14, 2009 - Concerns raised over interest rates-calgary sun

The Bank of Canada did as expected last week, keeping its key overnight rate at 0.25% and further pledging to hold the rate at least until the middle of next year. On the heels of the announcement, TD Canada Trust, the Royal Bank of Canada, CIBC and the National Bank of Canada lowered residential mortgage rates on some of their products, raising concerns at the C.D. Howe Institute a rapid rise in interest rates expected late next year could prove devastating for homeowners who have not evaluat ... Full Article...

posted in News at Mon, 14 Dec 2009 10:21:13 -0700

Monday, December 14, 2009 - Residential building permits increase-calgary sun

Residential building permit applications in Calgary last month were well ahead of November last year, showing the strength of the new homes market has continued into the fall. Last month there were 532 permit applications for new, single-family homes, valued at $137 million, and 441 applications for single-family home improvements, valued at $8 million. This compares to 188 new single-family applications worth $45 million and 321 single-family improvement applications worth $6 million last No ... Full Article...

posted in News at Mon, 14 Dec 2009 10:18:58 -0700

Friday, December 11, 2009 - Housing starts rise for third consecutive month in Calgary and area-calgary herald

CALGARY - The number of housing starts in Calgary climbed again in November, the third consecutive month building has outpaced last year’s levels. Canada Mortgage and Housing Corp. said Tuesday that starts in the Calgary area rose to 832 units in November, up from 575 in the same month the previous year. Despite that increase, total starts to date are 5,661, down from 11,035 for the same period in 2008, the agency said. Still, the number of single-detached homes are already ahead the 2 ... Full Article...

posted in News at Fri, 11 Dec 2009 13:12:30 -0700

Friday, December 11, 2009 - Calgary home starts hit high for the year-calgary herald

CALGARY - New home construction is showing more signs of recovery, with Calgary single-family home starts outpacing 2008 levels. November saw Calgary builders begin work on 832 units, the highest monthly tally so far this year, according to figures released by Canada Mortgage and Housing Corp. on Tuesday. Richard Cho, the CMHC's senior market analyst for Calgary, said low mortgage rates, recent price reductions and fewer homes on the market are helping trigger demand for new home construction ... Full Article...

posted in News at Fri, 11 Dec 2009 10:35:29 -0700

Friday, December 11, 2009 - HOUSING MARKET- REMAX

The worst recession since the Great Depression had a serious impact on housing performance during the fi rst quarter, with home sales down 27 per cent nationally, compared to 2008 figures. Consumers adjusted to new market realities—including buyer’s market conditions—as the supply of homes available for sale rose and values dipped. Hardest hit were markets in Greater Vancouver and Sudbury, where the number of homes sold declined 40 per cent; Calgary slipped 35 per cent; and Vi ... Full Article...

posted in News at Fri, 11 Dec 2009 10:28:54 -0700

Thursday, December 10, 2009 - Things are still looking up-Calgary Sun

New home starts numbers for October were released this week by Canada Mortgage and Housing Corp., and things are continuing to look up. Total starts tallied a second consecutive month of year-over-year increases hitting 732 on the strength of the single-family market. Single starts recorded their fourth month in a row of year-over-year increases, reaching 502 homes, 38% ahead of last October and bringing the total number of single starts this year to 3,612, only 4% below last year at this tim ... Full Article...

posted in News at Thu, 10 Dec 2009 13:28:43 -0700

Thursday, December 10, 2009 - Housing starts rise for third consecutive month in Calgary and area-calgary herald

CALGARY - The number of housing starts in Calgary climbed again in November, the third consecutive month building has outpaced last year’s levels. Canada Mortgage and Housing Corp. said Tuesday that starts in the Calgary area rose to 832 units in November, up from 575 in the same month the previous year. Despite that increase, total starts to date are 5,661, down from 11,035 for the same period in 2008, the agency said. Still, the number of single-detached homes are already ahead the 2 ... Full Article...

posted in News at Thu, 10 Dec 2009 12:51:00 -0700

Thursday, December 10, 2009 - Calgary home starts hit high for the year-calgary herald

CALGARY - New home construction is showing more signs of recovery, with Calgary single-family home starts outpacing 2008 levels. November saw Calgary builders begin work on 832 units, the highest monthly tally so far this year, according to figures released by Canada Mortgage and Housing Corp. on Tuesday. Richard Cho, the CMHC's senior market analyst for Calgary, said low mortgage rates, recent price reductions and fewer homes on the market are helping trigger demand for new home construction ... Full Article...

posted in News at Thu, 10 Dec 2009 12:48:49 -0700

Thursday, December 3, 2009 - Condo market a bit distorted-Calgary Sun

You can’t be blamed for thinking the multi-family homes picture in Calgary appears distorted, because, well, it is. Last year, Calgary and area home builders started 7,051 multi-family homes in the CMA, with 4,425 of those starts in March, April and May. To the end of last month, 1,217 multi-family homes have been started, with the Canada Mortgage and Housing Corp. expecting only 1,350 multi starts by year’s end. Inside the multi segment, semi-detached and townhomes are selling ... Full Article...

posted in News at Thu, 03 Dec 2009 16:13:52 -0700

Thursday, December 3, 2009 - Calgary home sales gain momentum-Calgary Herald

Calgary's residential real estate market reveals how dramatically things have changed since the economic meltdown was beginning to cut through the local economy a year ago. The Calgary Real Estate Board said Tuesday that single-family home sales last month were up 63.4 per cent and condo sales increased by 77.5 per cent compared with November 2008. The MLS average sale price in the single-family market jumped by 6.7 per cent, while condos rose by three per cent. Consumer confidence has impro ... Full Article...

posted in News at Thu, 03 Dec 2009 16:12:04 -0700

Friday, August 28, 2009 - Home sales forecast points to rebound Real Estate Upswing; Alberta among 'most dramatic revisions'

CALGARY - The speed and magnitude of the resale housing market's rebound has been unprecedented and that recovery has prompted the Canadian Real Estate Association to revise its forecast for sales and prices for the rest of this year and into 2010. That revision is significant for Alberta. "Alberta was among one of the most dramatic revisions in terms of unit sales," said Gregory Klump, chief economist with the association. "It largely reflects something that already happened--namely the seco ... Full Article...

posted in News at Fri, 28 Aug 2009 10:58:14 -0600

Friday, August 28, 2009 - Alberta confidence on the rise Accountants more optimistic of recovery-Calgary Herald

Another sign emerged Wednesday that the struggling economy is working its way out of its doldrums. A survey of executive chartered accountants indicates their optimism in the economy is rising throughout Canada and in Alberta. Optimism about the country's 12-month economic prospects increased sharply in the second quarter from the previous one, according to a report by the Canadian Institute of Chartered Accountants and the Royal Bank of Canada. At the national level, 28 per cent of chartere ... Full Article...

posted in News at Fri, 28 Aug 2009 10:56:05 -0600

Tuesday, August 25, 2009 - Home builders, development institute to support U of C's real estate program-Calgary Herald

CALGARY - The Canadian Home Builders’ Association and the Real Estate Development Institute is partnering to support the University of Calgary’s Certificate Program in Real Estate Development. The program began in 2004. Since the program's inception, the Institute has sought the right industry partner to support the growing Continuing Education program at the university. The program was created to support the continued growth and knowledge of the workforce within Calgary’s d ... Full Article...

posted in News at Tue, 25 Aug 2009 10:49:53 -0600

Tuesday, August 25, 2009 - Late payments on U.S. mortgages hit record high-Calgary Herald

NEW YORK - Late payments on U.S. mortgages increased to a record high in the second quarter, with almost one in eight homeowners delinquent or in the process of foreclosure. The percentage of loans on which foreclosure actions were started edged down from the first quarter, driven by a sharp drop in actions on subprime adjustable-rate mortgages, the Mortgage Bankers Association said on Thursday. But other types of loans, particularly prime, fixed-rate loans, saw a surge in foreclosure actions ... Full Article...

posted in News at Tue, 25 Aug 2009 10:47:12 -0600

Tuesday, August 25, 2009 - The Stonebridge custom fit for families-Calgary Sun

Homes have changed over the years — three-bedroom, one-bathroom bungalows may once have sufficed, but today, home buyers know what they want and are determined to get it. So, the advent of the bonus room, the main floor flex room, the great room, the ensuite. And with the Stonebridge, Excel Homes has raised the bar yet again, showcasing an abode that suggests perhaps homes aren’t quite finished their evolution into a new realm of livability. “In this home, the two main floo ... Full Article...

posted in News at Tue, 25 Aug 2009 10:44:55 -0600

Tuesday, August 25, 2009 - Hopewell lends helping hands-Calgary Sun

Hopewell Residential Communities doesn’t just build new communities — the developer enhances established ones as well. That’s why the Hopewell Team headed to the inner city last week. Armed with hammers and nails, paint brushes and drills, the crew gussied up the Aspen Community Group Home, a charitable social service organization that houses youth between the ages of seven and 17. “More than just contribute a paper donation, there was a strong desire on behalf of the ... Full Article...

posted in News at Tue, 25 Aug 2009 10:42:25 -0600

Friday, August 21, 2009 - Canadian homebuyers set July sales record-Calgary Herald

July housing sales across the country were the best on record for the month and the largest year-over year increase in two years, the Canadian Real Estate Association said Friday. The Ottawa-based group, which represents about 100 boards across the country, said there were 50,270 units sold via the multiple listing service last month. That's an 18.2 per cent jump from a year ago. It also marked the first time sales had topped 50,000 in July. "The difference in the resale housing market now, c ... Full Article...

posted in News at Fri, 21 Aug 2009 11:09:37 -0600

Friday, August 21, 2009 - Calgary home sold for record $10.3M-Calgary Herald

CALGARY - An Elbow Park home, which was owned by former Calgary Flames goaltender Mike Vernon, has sold for $10.3 million --setting the benchmark for the highest MLS residential sale price in Calgary. It eclipsed the previous record sale in June 2008 of a six-bedroom Crescent Heights home which sold for $7.5 million. "We're finding the real estate market to be quite strong right now," said Donna Rooney, one of the realtors who listed Vernon's property along the Elbow River. "This was not our ... Full Article...

posted in News at Fri, 21 Aug 2009 11:08:24 -0600

Friday, August 21, 2009 - Starts show signs of resurgence-Calgary Sun

New starts figures show things are starting to look up for Calgary and area new home builders. The new home starts figures for July were released last week, showing builders poured foundations on 501 single-family homes last month, a 16% increase from the 431 homes started last July but reaching an even more important milestone, says Lindsay Kendall, market analyst for the Prairies and Territories for Canada Mortgage and Housing Corp. “Single-detached starts increased year-over-year for ... Full Article...

posted in News at Fri, 21 Aug 2009 11:05:45 -0600

Friday, August 21, 2009 - Christmas in July for Calgary builders-Calgary Sun

Santa Claus has visited three times since Calgary home builders have seen a year-over-year increase in single-family starts, but Christmas came early this year. July’s single-family starts were the first year-over-year increase since November 2006, the year builders started a record 10,482 single-family homes. The record is not in jeopardy, but after almost three years of slow, but steady declines, July’s performance should prove a sign that the light at the end of the tunnel isn& ... Full Article...

posted in News at Fri, 21 Aug 2009 11:04:53 -0600

Friday, August 21, 2009 - Calgary a city beyond compare-Calgary Sun

I’m a born and raised Calgarian and I’m tired of the way some people see my city in the future. I am tired of the social engineers on city council and in the planning department and the left wing elitists who keep comparing Calgary to other cities. Their mantra is Calgary’s future development should be the same as Vancouver’s or Portland’s or any other city that has frozen land development in favour of increased densities. In reality, Vancouver is the west end o ... Full Article...

posted in News at Fri, 21 Aug 2009 11:03:44 -0600

Friday, August 21, 2009 - Buffalo Hills set to break ground-Calgary Sun

The Municipal District of Rocky View has approved plans for a new community east of Calgary, with the developer planning to break ground by this time next year. It’s an indication the development industry has faith in the economy, says Jim Kuz, general manager of Buffalo Hills Developments. “The market may not be where those of us in the industry would want it, but we’re confident where the market is and it’s better than six months ago,” says Kuz. Buffalo Hills ... Full Article...

posted in News at Fri, 21 Aug 2009 11:02:44 -0600

Tuesday, August 4, 2009 - Brookfield Properties posts lower funds from operations-Calgary Herald

North American commercial real estate firm, Brookfield Properties posted lower quarterly funds from operations partly hurt by lower net operating income from commercial and residential development operations. Funds from operations, a key measure used by real estate companies, were US$148-million, or 38 cents a share, in the second quarter, down from US$157-million, or 40 cents a share, a year earlier. According to Reuters Estimates, analysts had expected 36 cents a share in funds from operati ... Full Article...

posted in News at Tue, 04 Aug 2009 13:12:00 -0600

Tuesday, August 4, 2009 - Calgary builders set to score big-Calgary Sun

Calgary builders are well-positioned to walk away with the majority of the hardware handed out at the CHBA-Alberta Awards of Excellence on Sept. 18. Of the 46 awards finalists announced earlier this week, 26 are from Calgary, 14 from Edmonton and three each from Red Deer and Lethbridge. Edmonton’s Christenson Developments leads all builders with four finalists, followed by three Calgary builders with three each: Ashton Custom Homes, Streetside Development Corporation and last year&rsquo ... Full Article...

posted in News at Tue, 04 Aug 2009 13:07:31 -0600

Wednesday, July 29, 2009 - Canadian housing markets becoming more balanced- Calgary Sun

Two recent housing reports — one from ReMax and the other from RBC Economics — indicate housing markets across the country have strengthened in the second quarter of 2009, after seven months of uncertainty and weak sales performance. The ReMax report says more balanced market conditions emerged in the last three months, ending the hold buyers have enjoyed since last September, with the two largest markets, Toronto and Vancouver, recording MLS sales in June that were among the highe ... Full Article...

posted in News at Wed, 29 Jul 2009 11:45:05 -0600

Wednesday, July 29, 2009 - Calgarians buying homes in the suburbs- Calgary Sun

Ward 3, the domain of Ald. Jim Stevenson, had the largest population growth in the last 12 months, while Ward 9, patrolled by Ald. Joe Ceci, experienced the largest decline. I can’t say whether the aldermen were responsible for the population shifts in their wards, but it’s just a bit of the many fun facts and figures to be found in the City of Calgary census for 2008/2009, released last week. Here are a few of the highlights. Who’s on the move? Net migration — the d ... Full Article...

posted in News at Wed, 29 Jul 2009 11:43:42 -0600

Wednesday, July 29, 2009 - Calgary seniors paying highest rent in Alberta-Calgary Herald

A first-ever report on the state of seniors' rental housing in Alberta shows tenants in Calgary are paying the highest rents in the province. The report from Canada Mortgage and Housing Corp. shows that the average rent for seniors living in "standard spaces" in Calgary is $2,679 per month. A standard space is defined as that occupied by a resident who receives a standard level of care of less than 1.5 hours per day. In contrast to Calgary, seniors in Edmonton are paying an average of $2,091 ... Full Article...

posted in News at Wed, 29 Jul 2009 11:40:07 -0600

Monday, July 20, 2009 - Not all mortgages are equal - Calgary Herald

When it comes to financing your first home — or any home purchase for that matter — not all mortgages are created equal. “Just as short and long term goals should drive your financial and investment plans, the same holds true when choosing the right mortgage to meet your individual needs and circumstances,” says Attif Sayani, personal banking manager at Scotiabank’s Country Hills Town Centre branch. Calgary Herald ArchiveBefore signing buying that dream home, rese ... Full Article...

posted in News at Mon, 20 Jul 2009 08:19:58 -0600

Monday, July 20, 2009 - Housing construction numbers healthier - Calgary Herald

Calgary’s housing market is beginning to look more like a typical residential construction environment — except for the numbers. After two straight monthly increases in construction starts of single-family homes, there was a slight decline in June — something that historically happens at this time of year. Work started on 374 detached homes last month — not far off the 450 starts for June 2008 — a small decrease from this May’s 382 starts, says Canada Mortg ... Full Article...

posted in News at Mon, 20 Jul 2009 08:18:51 -0600

Monday, July 20, 2009 - Beware of toxic drywall - Calgary Herrald

You might have heard recently about toxic drywall that was distributed in North America and used in thousands of homes. This drywall was made in China, and it emits toxic hydrogen sulphide, sulphur dioxide and other gases. Humidity in the air — whether it’s from the weather or from indoor moisture — causes the sulphur in the drywall to offgas, which stinks (sulphur smells like rotten eggs) and causes health problems like eye irritation, trouble breathing, headaches and sore t ... Full Article...

posted in News at Mon, 20 Jul 2009 08:16:44 -0600

Tuesday, July 14, 2009 - Housing recovery underway - Calgary Herald

CALGARY - Christina Haggerty sensed the housing market was turning around, but after finding a home for a recent client, the Calgary realtor said the signs are now unmistakable. “Anything we saw right away had competing offers or it was sold the next day,” she said. “It was crazy, definitely the stampede was around the $400,000 to $500,000 range.” It’s not the heady days of 2007, but after last fall’s doldrums, confidence is definitely returning to the hou ... Full Article...

posted in News at Tue, 14 Jul 2009 07:43:55 -0600

Monday, July 13, 2009 - Buyer alert: resale market on the move - Calgary Herald

It’s still a buyer’s market, but recent single-family resale housing statistics suggest purchasers are losing some of the advantage they held. Calgary Herald ArchiveSingle-family resale housing statistics suggest purchasers are losing some of the advantage they held earlier in the year. Prices are rising and availability is dropping. Prices are climbing steadily, as are sales — and the catalogue of available homes is much thinner than it was at the start of this year, says t ... Full Article...

posted in News at Mon, 13 Jul 2009 08:08:51 -0600

Monday, July 13, 2009 - First-time buyers help market - Calgary Herald

If it’s Tuesday, it must be — oh, I don’t know — Vancouver, Calgary, Prince Edward Island? John Geha has racked up plenty of travel time in a really short period of time, winging it from one coast to the other. Calgary Herald ArchiveJohn Geha, president of Coldwell Banker Canada, is an optimist. He’s been sending out the message that the real estate market is in a recuperative mode — and that first-time buyers are the blood being pumped into it. “It w ... Full Article...

posted in News at Mon, 13 Jul 2009 08:07:21 -0600

Monday, July 13, 2009 - PURCHASERS FAVOURED - Calgary Herald

Question: Does a buyers’ market mean it’s the right time for an individual person to buy? Answer: A decrease in existing home sale prices, low mortgage rates and an increase in the number of homes listed for sale have created what some are calling a buyers’ market. That can be good news for potential homeowners. But buying a home is easily one of the biggest purchases of your life. It’s important to have an understanding of what it really means to be a homeowner befo ... Full Article...

posted in News at Mon, 13 Jul 2009 08:06:30 -0600

Friday, July 10, 2009 - Be good to your wood ... to make it last longer - Calgary Sun

Natural wood adds timeless beauty to any home — contemporary abodes embrace horizontal lines with long, narrow, cedar decks, while traditional exteriors are enhanced by elaborate verandas brimming with outdoor rugs, planters and comfortable furniture. However, natural wood isn’t exactly maintenance free. Over time, it can be bleached by the sun, warped by the rain and dented and dinged by day-to-day life. That’s why we asked the experts: How can I make sure my natural wood r ... Full Article...

posted in News at Fri, 10 Jul 2009 10:46:41 -0600

Friday, July 10, 2009 - New home prices dip slightly - Calgary Sun

The average absorbed price of a new single family home in Calgary Metro last month was 1.7% lower than June last year, according to figures released by the Canada Mortgage and Housing Corp. Last month’s average was $577,965, down from $587,886 last year, while in the Calgary CMA, which includes Airdrie, the MD of Rocky View, Chestermere, Cochrane, Irricana, Beiseker and Crossfield, the average absorbed price last June was $607,394 compared to $556,236 last month.* “The new market ... Full Article...

posted in News at Fri, 10 Jul 2009 10:45:41 -0600

Friday, July 10, 2009 - Housing starts jump more than expected in June - Calgary Herald

Home construction rose more than expected in June as Canada's beleaguered housing market showed signs of a possible recovery. The seasonally adjusted annual rate of housing starts increased eight per cent to 140,700 units during the month from 130,300 units in May, Canadian Mortgage and Housing Corporation said Thursday. "The increase in housing starts in June is broadly based, encompassing both the singles and multiples segments," said Bob Dugan, CMHC's chief economist. "In addition, Weste ... Full Article...

posted in News at Fri, 10 Jul 2009 07:42:18 -0600

Friday, July 10, 2009 - RBC sues former Calgary-area employee for inflating real estate values - Calgary Herald

CALGARY - The Royal Bank of Canada has filed an $8.9-million lawsuit against one of its former employees and members of his family over allegations they orchestrated a complex mortgage fraud scheme that has left the financial institution facing millions in losses for properties with artificially inflated values. At the heart of the lawsuit are allegations the defendants -- including Ilan Levy, who worked with the bank as a mortgage specialist between August 2004 and March 2009 --approached peo ... Full Article...

posted in News at Fri, 10 Jul 2009 07:39:41 -0600

Thursday, July 9, 2009 - Home ownership getting more affordable: RBC - Calgary Herald

Weaker home prices and lower borrowing costs are attracting buyers back into the housing market, according to a report Wednesday by RBC Economics. “Declining costs of home ownership during the last year were driven by significant cuts in mortgage rates along with the federal government taking an active role in supporting the mortgage securities market,” RBC said. “In the first quarter, monthly payments on a typical detached bungalow in Canada had decreased by close to 17% fro ... Full Article...

posted in News at Thu, 09 Jul 2009 07:52:29 -0600

Monday, July 6, 2009 - Top five tips to getting best mortgage - Calgary Herald

Expert has advice on avoiding pitfalls The following are answers by Valerie Rasmussen, assistant vice-president, credit services, for First Calgary Savings, to questions by New Homes editor Barb Livingstone: Photos, Calgary Herald ArchiveAvoid becoming house poor — don’t push your finances to the maximum of your ability to pay. Question: What are your top five tips for people thinking of getting a mortgage and buying a house/condo in this market? Answer: Buying your first home ca ... Full Article...

posted in News at Mon, 06 Jul 2009 08:14:39 -0600

Monday, July 6, 2009 - Paying cash for renovation increases risk - Calgary Herald

'You have no comeback if they wreck your house' I don't get why people pay cash for renovations. I understand cash means no paperwork, therefore no GST and likely no income to be reported by the contractor, which translates into a lower cost for the consumer. But is it worth it? And I'm not talking ethically. look at it from a financial point of view. "It is legal to pay cash," notes Jamie Golombek, managing director of tax and estate planning for CIBC Private Wealth Management. "It is the ... Full Article...

posted in News at Mon, 06 Jul 2009 08:11:02 -0600

Monday, July 6, 2009 - Tepid recovery seen for Canada?s housing market - Calgary Herald

The worst of Canada’s housing market woes appear to have passed but the sector’s rebound will be tenuous as a rise in mortgage rates and high unemployment limit the recovery in prices and sales. Property experts say first-time buyers and Bank of Canada rate cuts have helped restore stability to a market that slumped from late 2008 to early this year, when the worst leg of the global financial crisis battered consumer confidence. “We should be less fearful than we were six mo ... Full Article...

posted in News at Mon, 06 Jul 2009 08:09:52 -0600

Monday, July 6, 2009 - Alberta remains best place for real estate investors - Calgary Herald

But don't expect return of 'Tiger Woods' days When it comes to the housing market, E-town still rules. That's the word from Don Campbell, president of Canada's Real Estate Investment Network. The popular author, consultant and public speaker says Edmonton remains the best place on the continent to invest in residential real estate. It's a claim he first made last August, shortly after oil prices peaked at$147 US a barrel, and Alberta was rolling in energy riches. Despite a sharp drop-off in ... Full Article...

posted in News at Mon, 06 Jul 2009 08:08:22 -0600

Monday, June 29, 2009 - New buyers paying for Plan It - Calgary Sun

The Plan It Calgary debate focused attention on the development industry in Calgary, the costs of growth and where the money comes from to pay for growth. It also revealed a general misunderstanding of development costs, which affect the costs of housing and doing business. The price of a new home can be divided into two components: The cost of building the home, and the cost of developing the lot. Obviously it starts with the land and developers looking 10 to 15 years into the future when t ... Full Article...

posted in News at Mon, 29 Jun 2009 10:03:30 -0600

Monday, June 29, 2009 - Plenty of good deals remain in Calgary - Calgary Herald

You blinked, didn’t you? After months of patiently waiting for the market to hit bottom — and watching interest rates, house sales and prices slide — you blinked. And in that nanosecond, you might have missed it. Don’t be upset. You’re not the only one. I recall one real estate frontliner saying to me: “If you are waiting for the market to bottom and it does, then you’ve already missed it.” The real estate and housing recovery, at least in Cal ... Full Article...

posted in News at Mon, 29 Jun 2009 07:53:58 -0600

Monday, June 29, 2009 - Mortgage brokers want best deal for buyers - Calgary Herald

Who are mortgage brokers and who do they work for? The question is one I hear a lot these days. Here in Canada, about 25 per cent of mortgages originate through mortgage brokers (versus about 75 per cent of mortgage dealers in the United States and Europe). Most people just walk into their local bank and fill out the paperwork and believe they received the best deal. Well, the best deal for you, or for the bank? When you walk into the bank, you will be shown only the products the bank has to ... Full Article...

posted in News at Mon, 29 Jun 2009 07:53:00 -0600

Monday, June 29, 2009 - Average selling price hits new national high - Calgary Herald

The average selling price for resale homes in Canada has never been this high. The national average reached $319,757 during May, four-tenths of a per cent higher than the previous record set last May, says the Canadian Real Estate Association. Calgary Herald ArchiveThe average resale selling price in Alberta rose to $329,296 in May, says a national group. Among the provinces and territories, Alberta had the second highest price at $329,296. Leading the way was B.C. at $465,139. The third hi ... Full Article...

posted in News at Mon, 29 Jun 2009 07:51:32 -0600

Monday, June 29, 2009 - Keep allergens at bay - Calgary Herald

Calgarians who suffer from seasonal, dust, mould or pet allergies now have a proven way to keep the microscopic pollutants from setting up house in their pillows and mattresses. Available this month in Canada, CleanRest pillows, pillow encasements and mattress encasements have fabric pores no larger than one micron (one millionth of a metre). This tiny size blocks allergens such as pet dander, pollen and mould spores and keeps them from settling in bedding (which can cause effects from restless ... Full Article...

posted in News at Mon, 29 Jun 2009 07:50:04 -0600

Monday, June 29, 2009 - Three options for leaky basements - Calgary Herald

It seems as if every other e-mail I get is about a leaky basement. Whether it’s a concern about dampness, water due to seepage, or an actual crack in the foundation, the solution is the same: get the excess water away from your home’s foundation. There is always water underground, either from the water table, underground streams or just surface water percolating its way down to the aquifer. We need to make sure this water doesn’t get in. For years, homes have been built with ... Full Article...

posted in News at Mon, 29 Jun 2009 07:49:05 -0600

Monday, June 29, 2009 - Staging tip - Calgary Herald

Neutralize your colour palette — not just with paint, but accessories, too. Master bedrooms are very important. You might try to get an upholstered fabric panel to use as a headboard. Declutter: If you haven’t used it in a year, you can’t make money with it or it’s not a family heirloom — throw it out or give it away. Once you’ve removed your dated, worn items from your home, borrow that beautiful rug or armchair from family and friends. Make sure your hom ... Full Article...

posted in News at Mon, 29 Jun 2009 07:46:27 -0600

Monday, June 29, 2009 - Sell your home with a great first impression - Calgary Herald

During the housing boom, home staging was all about vaulting your property into the stratosphere above the asking price. Canwest News ServiceWhen staging your home, neutralize your colour palette and de-personalize by removing family photos. Today, it’s about getting your house sold. Period. Matthew Finlason, of the HGTV series The Stagers, has witnessed the housing arc of the past two years and says home staging is perhaps even more relevant in today’s turbulent market. “ ... Full Article...

posted in News at Mon, 29 Jun 2009 07:45:14 -0600

Monday, June 29, 2009 - Plenty of good deals remain in Calgary - Calgary Herald

You blinked, didn't you? After months of patiently waiting for the market to hit bottom--and watching interest rates, house sales and prices slide--you blinked. And in that nanosecond, you might have missed it. Don't be upset. You're not the only one. I recall one real estate front-liner saying to me: "If you are waiting for the market to bottom and it does, then you've already missed it." The real estate and housing recovery, at least in Calgary, appears to be underway. Some mortgage rate ... Full Article...

posted in News at Mon, 29 Jun 2009 07:41:53 -0600

Monday, June 29, 2009 - Industry's history detailed - Calgary Herald

Even before he started to put pen to paper, Doug Kelly realized trying to write a chronological history of Alberta's land development industry would be boring. There's not all that much excitement tied to moving dirt, digging trenches or pouring sidewalks. So the former Carma Developers vice-president-turned-author decided to skip the technical stuff and the numbers and get up close and personal with the people who have helped grow the industry since the 1950s. Kelly's book, $100,000 an Acre ... Full Article...

posted in News at Mon, 29 Jun 2009 07:40:48 -0600

Friday, June 26, 2009 - Developers oppose city's density targets - Calgary Herald

Growth debate back to council in the fall After three full days and more than 100 speakers lauding and critiquing Calgary's long-range growth blueprint, council proposed more than 70 amendments to the complex plan but won't debate them until the fall. Councillors have concerns over whether river crossings at edworthy Park and Sandy Beach should be included in Plan it Calgary, as well as a costly airport access tunnel. But the biggest questions they've asked city staff to consider over the sum ... Full Article...

posted in News at Fri, 26 Jun 2009 10:44:37 -0600

Friday, June 26, 2009 - $386M boost for low-cost housing - Calgary Herald

The federal Conservatives inked a$386-million deal with the province Thursday to build low-cost housing and renovate existing units across Alberta over the next two years. During a grand opening ceremony for Alice Bissett Place, an affordable housing complex in Inglewood, federal Environment Minister Jim Prentice and Alberta Minister of Housing and Urban Affairs Yvonne Fritz signed the agreement. The money, which is the largest investment in social housing in 20 years, will go toward construc ... Full Article...

posted in News at Fri, 26 Jun 2009 10:43:18 -0600

Friday, June 26, 2009 - Calgary builders fight back at Plan It hearing - calgary Herald

Blueprint for growth called 'not workable' CALGARY - Home-builders and suburban developers began laying out demands for changes to the city’s long-term blueprint for a more compact city, urging much softer density targets and a consultation approach so contentious that even a leading Plan It skeptic on council appeared to disagree. The industry has coordinated a string of business leaders to speak at Day 3 of the public hearing into Plan It, to try dismantling city staff’s case for ... Full Article...

posted in News at Fri, 26 Jun 2009 10:42:15 -0600

Friday, June 26, 2009 - Builder warns against Plan It - Calgary Sun

Single-family house prices in Calgary will skyrocket if the city's controversial long-range plan is approved by council, warns a city home-builder. Jay Westman, owner of Jayman Masterbuilt, spoke before council yesterday in opposition of the city's development management and transportation plan. "If this plan gets approved the way it's submitted right now, I believe that home prices will move up to $50,000 to $100,000 in single-family homes just about overnight," Westman said. "If there's a ... Full Article...

posted in News at Fri, 26 Jun 2009 10:39:26 -0600

Tuesday, June 23, 2009 - Deposits required for Calgary's tower developers in future - Calgary Herald

CALGARY - Developers now have to pay up to several million dollars in security deposits before starting construction after city council approved a plan monday to deal with a string of abandoned sites. The economic downturn has stalled work on several condo tower projects, forcing the city to issue orders demanding the holes be filled or the sites be shored up. In some cases, the city has had to pay hundreds of thousands of dollars to fill a hole because of safety concerns, such as sinkholes. ... Full Article...

posted in News at Tue, 23 Jun 2009 08:51:56 -0600

Tuesday, June 23, 2009 - Alberta's new residential construction falls by $350M from one year ago - Calgary Herald

CALGARY - The investment value in new residential construction in Alberta has fallen by nearly $350 million from a year ago. According to figures released by Statistics Canada on Monday, investment in that sector in the province was $427.3 million in April compared with $773 million in April 2008. A drop in housing starts combined with a decline in prices has contributed to the overall fall in the investment level, said Richard Corriveau, manager of market analysis for the Prairies and Territ ... Full Article...

posted in News at Tue, 23 Jun 2009 08:51:00 -0600

Tuesday, June 23, 2009 - Calgary real estate pros to hold industry extravaganza - Calgary Herald

CALGARY - With Calgary’s housing market picking up steam again, more than 80 real estate professionals, 20 bankers and several home renovation experts and mortgage insurers will gather Saturday for a one-day home buying and renovation extravaganza. A carnival atmosphere is planned for two RONA locations — 90 Crowfoot Way N.W. and 9630 Macleod Trail S — for the Under the Tent Home Buyers and Renovation Event, which is a free information day of seminars and one-on-one home buyi ... Full Article...

posted in News at Tue, 23 Jun 2009 08:50:08 -0600

Tuesday, June 23, 2009 - Canadians still want rec homes despite economic gloom, report says - Calgary Herald

Albertans most likely to give in to recreational property purchase CALGARY - Despite the economic downturn, many Canadians are still dreaming of owning a recreational property, both as a long-term investment and to enjoy with family and friends, says a national real estate report released today. And Albertans are among the most willing in the country to make changes to their finances or lifestyle to own a cottage. The 2009 Royal LePage Recreational Property Report said Canadian are willing to ... Full Article...

posted in News at Tue, 23 Jun 2009 08:49:14 -0600

Tuesday, June 23, 2009 - Developer ordered to fill Calgary construction hole - Calgary Herald

City wins court battle over idle condo site CALGARY - Owners of a Calgary condo project could be found in contempt of court if a Beltline hole isn't built to grade after the City of Calgary won a court injunction Wednesday. Citing growing concerns about the safety of the Astoria on Tenth site, city lawyers earned a judge's order demanding the hole that's around five storeys deep be filled with a concrete structure. "We have some depressions that could turn into sinkholes," said Marco Civita ... Full Article...

posted in News at Tue, 23 Jun 2009 08:48:01 -0600

Thursday, June 18, 2009 - Homeowners in the dark on renovation tax credit - Calgary Herald

More than 80 per cent of Canadian homeowners admit they know little to nothing about the new Home Renovation Tax Credit that could result in tax savings up to $1,350. A poll by Angus Reid Strategies released Wednesday also showed 98 per cent of homeowners are unaware of the Feb. 1, 2010 deadline for claiming their renovations. The non-refundable tax credit was introduced in the 2009 federal budget. It is for work performed on or goods acquired for the renovation of owned, personal dwellings. ... Full Article...

posted in News at Thu, 18 Jun 2009 07:55:30 -0600

Tuesday, June 16, 2009 - First-time home buyers' expectations too high: Coldwell Banker - Calgary Herald

CALGARY - First-time home buyers are primarily concerned with affordability when choosing a new home, but their expectations may be too high relative to their current financial buying power, says a survey by real estate firm Coldwell Banker. The survey was conducted among the company's brokers and sales representatives in markets across North America. Nearly half of the survey respondents reported that affordability was the top concern for first-time home buyers, but 82 per cent of this gro ... Full Article...

posted in News at Tue, 16 Jun 2009 08:24:48 -0600

Tuesday, June 16, 2009 - Housing market blossoms in spring - Calgary Herald

There's little mystery why Canada's housing market has seen a rebound in sales this spring. "Record-low mortgage rates have unleashed pent-up demand that accumulated last year when previously soaring prices closed the door on first-time buyers," said Sal Guatieri, senior economist with BMO Capital Markets, in a research report released Friday. "After a harsh winter, spring has come surprisingly early to Canada's housing market. Sales have rebounded from a lengthy slumber and prices have firme ... Full Article...

posted in News at Tue, 16 Jun 2009 08:21:29 -0600

Tuesday, June 16, 2009 - Don't handcuff your mortgage - Calgary Herald

Would you like to pay an extra $300 per month on your mortgage? Not likely. That hasn't stopped a number of Canadians, with the deal of a lifetime on a variable-rate mortgage, from switching over to a more expensive fixed-rate product and paying the extra freight. A fear of rising rates is driving the rash decision. But if you've finally managed to pin your banker to the ground, why on Earth would you let him off the mat? More than 28% of Canadians have a variable-rate product tied to prime, ... Full Article...

posted in News at Tue, 16 Jun 2009 08:20:21 -0600

Tuesday, June 16, 2009 - Record-low mortage rates resulting in housing market rebound: report - Calgary Herald

CALGARY- There’s little mystery why Canada’s housing market has seen a rebound in sales this spring. “Record-low mortgage rates have unleashed pent-up demand that accumulated last year when previously soaring prices closed the door on first-time buyers,” said Sal Guatieri, senior economist with BMO Capital Markets, in a research report released Friday. “After a harsh winter, spring has come surprisingly early to Canada’s housing market. Sales have rebounded ... Full Article...

posted in News at Tue, 16 Jun 2009 08:19:23 -0600

Monday, June 15, 2009 - There's more to mortgages... - Calgary Sun

More to mortgages than just a good rate Today’s bargain basement mortgage rates have, in some cases, made the home buying dream a reality. For many first-time buyers, current interest rates will keep borrowing costs low for the next few years. And, according to an April report by the Canadian Association of Accredited Mortgage Professionals (CAAMP), borrowers who have renewed or refinanced a mortgage in the past year now pay interest rates that are nearly one point lower than their pre ... Full Article...

posted in News at Mon, 15 Jun 2009 08:24:19 -0600

Monday, June 15, 2009 - A good time to buy - Calgary Sun

Consumers say now a good time to buy The study found about 90% of recent home purchasers believe homeownership is a good long-term investment and 70% think now is a good time to purchase a home. Canadians also demonstrated a sound understanding about the mortgage process and how their lenders assess eligibility, with 86% of respondents aware the level of total housing and other monthly payments should generally not exceed 40% of gross household income, says Francois Blouin, director, insuranc ... Full Article...

posted in News at Mon, 15 Jun 2009 08:22:58 -0600

Monday, June 15, 2009 - Concrete evidence on home finishings - Calgary Sun

Granite and hardwood are beautiful products, but they lack that edge, that certain something, that makes them ultra-current and urban. And that’s why today’s uber-hip homeowners are gravitating towards another material for their flooring, fireplace mantles and countertops: Concrete. It’s durable, attractive and different, and it’s gaining in popularity. That’s why we asked the experts: Why is concrete a good choice for home interiors? “It’s totally ... Full Article...

posted in News at Mon, 15 Jun 2009 08:21:57 -0600

Monday, June 15, 2009 - Great deals won?t last forever - Calgary Herald

The following are answers by Naum Shteinbah of Streetside Development Corp. to questions by New Homes/New Condos editor Barb Livingstone: Question: What trends are you seeing in this economy — in your company and in your industry — that are different from a year ago? Answer: A year ago this time, we didn’t really believe that the U.S. economy could collapse so fast. We were also assured by multiple analysts and economists in both government and private sector that the Cana ... Full Article...

posted in News at Mon, 15 Jun 2009 08:18:58 -0600

Monday, June 15, 2009 - Does someone else own your home? - Calgary Herald

Fraudulent activity has escalated from the cheque writing scams to identity theft to actually stealing your home right out from underneath you. For many unsuspecting homeowners there is fraudulent activity going on behind their backs that could cause them a world of aggravation and financial distress. What most don’t realize is that title insurance could have prevented or assisted in correcting the fraudulent activity. There are two kinds of title insurance, one for the homeowner and on ... Full Article...

posted in News at Mon, 15 Jun 2009 08:16:04 -0600

Monday, June 15, 2009 - Understand your mortgage before signing - Calgary Herald

Talk about mortgage rates and the first topic that comes to mind is the current state of those rates. We’re in uncharted territory right now. Rates have never been this low and this generation of homebuyers is reaping the benefits. So, too, are those renegotiating mortgages. Calgary Herald Archive According to a report by the Canadian Association of Accredited Mortgage Professionals, borrowers who have renewed or refinanced a mortgage in the past year are now paying interest rates that a ... Full Article...

posted in News at Mon, 15 Jun 2009 08:14:35 -0600

Monday, June 15, 2009 - Single-detached housing starts highest in a year - Calgary Herald

Single-detached housing starts haven’t been this high in almost a year. Figures from Canada Mortgage and Housing Corp. show that builders in and around Calgary started work on 382 detached residences in May — the most in one month since 431 starts were posted last July. And the upbeat news doesn’t end there. Since bottoming at 171 starts in March, there have been back-to-back monthly increases in April and May. “New home sales are improving and are being supported by lo ... Full Article...

posted in News at Mon, 15 Jun 2009 08:12:50 -0600

Monday, June 15, 2009 - Housing market blossoms in spring - Calgary Herald

There's little mystery why Canada's housing market has seen a rebound in sales this spring. "Record-low mortgage rates have unleashed pent-up demand that accumulated last year when previously soaring prices closed the door on first-time buyers," said Sal Guatieri, senior economist with BMO Capital Markets, in a research report released Friday. "After a harsh winter, spring has come surprisingly early to Canada's housing market. Sales have rebounded from a lengthy slumber and prices have firme ... Full Article...

posted in News at Mon, 15 Jun 2009 08:09:13 -0600

Monday, June 15, 2009 - Don't handcuff your mortgage - Calgary Herald

Would you like to pay an extra $300 per month on your mortgage? Not likely. That hasn't stopped a number of Canadians, with the deal of a lifetime on a variable-rate mortgage, from switching over to a more expensive fixed-rate product and paying the extra freight. A fear of rising rates is driving the rash decision. But if you've finally managed to pin your banker to the ground, why on Earth would you let him off the mat? More than 28% of Canadians have a variable-rate product tied to prime, ... Full Article...

posted in News at Mon, 15 Jun 2009 08:07:52 -0600

Monday, June 15, 2009 - Record-low mortage rates resulting in housing market rebound: report - Calgary Herald

CALGARY- There’s little mystery why Canada’s housing market has seen a rebound in sales this spring. “Record-low mortgage rates have unleashed pent-up demand that accumulated last year when previously soaring prices closed the door on first-time buyers,” said Sal Guatieri, senior economist with BMO Capital Markets, in a research report released Friday. “After a harsh winter, spring has come surprisingly early to Canada’s housing market. Sales have rebounded ... Full Article...

posted in News at Mon, 15 Jun 2009 08:06:50 -0600

Monday, June 15, 2009 - Rural Calgary communities demand 'voice' in city's growth - Calgary Herald

Districts, county threaten to kill metropolitan planCALGARY - The rural communities that occupy the vast majority of the 12,000 square kilometres in the Calgary area are demanding make-or-break changes to a proposed plan that would chart population growth and water servicing across the region. Politicians from cities, towns, villages and rural districts around Calgary will meet today in Cochrane to address or at least ease concerns before a pivotal final vote next Friday on the legally binding ... Full Article...

posted in News at Mon, 15 Jun 2009 08:05:28 -0600

Friday, June 12, 2009 - Two Calgary neighbourhoods see rising home prices despite recession: Century 21 - Calgary Herald

CALGARY- Housing markets in a handful of neighbourhoods in Canada’s major cities have dodged the recession and experienced robust price increases over the past year but none in Calgary made Century 21 Canada’s Hottest 21 Neighbourhoods survey released Thursday. However, two Calgary neighbourhoods were among 17 in which average prices increased over the past month (March 2009 to April 2009), but declined over the past year (April 2008 to April 2009). The area with the postal code T2 ... Full Article...

posted in News at Fri, 12 Jun 2009 08:58:55 -0600

Friday, June 12, 2009 - Calgary's business condo sales much slower in '09: Avison Young - Calgary Herald

CALGARY - Price corrections in the business condominium market have been moderate so far this year, but the number of transactions taking place is significantly behind the pace set in the previous year, says commercial real estate firm Avison Young. In a report released today, the company said that while in the first 20 weeks of 2008 there were 29 office condo sales for $25.4 million, this year there have been only 10 sales for $5.9 million. This represents a 77 per cent decline in dollar vol ... Full Article...

posted in News at Fri, 12 Jun 2009 08:56:36 -0600

Thursday, June 11, 2009 - Rent rates rising - Calgary Herald

Vacancies more than double Calgary's apartment vacancy rates might have more than doubled in the past year, but the cost of rent has edged up since then. Figures compiled by the Canada Mortgage and Housing Corporation (CMHC) show vacancies last April hit 4.3% compared to 2% the same month in 2008 -- a trend the organization attributes to the recession. Even so, the average rental rate for a two-bedroom suite went from $1,096 a year ago to $1,106 this past April. And renters shouldn't expect ... Full Article...

posted in News at Thu, 11 Jun 2009 09:20:59 -0600

Thursday, June 11, 2009 - Calgary's rental housing easier to find, still expensive - Calgary Herald

CALGARY - Renters are having an easier time finding a place to live, but the average rents in Calgary are still among the highest in Canada. Calgary’s vacancy rate increased to 4.3 per cent in April from two per cent a year ago, according to the spring rental market survey by Canada Mortgage and Housing Corporation. Rents, however, continued to increase in Calgary — although less than in previous years. The average rent for a two-bedroom suite in new and existing structures was $ ... Full Article...

posted in News at Thu, 11 Jun 2009 08:14:41 -0600

Thursday, June 11, 2009 - Southeast Calgary suburb scores with sustainability push - Calgary Herald

CALGARY - A Calgary residential developer says it has been receiving "a positive response" on its massive Walden southeast suburb. "It's a unique community in that it's meeting Calgary's 11 sustainability principles," said Sean Nolan, senior development manager at Genstar Development Co., on Tuesday at the grand opening for the project. "We're keeping a lot of the existing topography of the land. . . . We've got unique architecture from the builders, who are offering something different that ... Full Article...

posted in News at Thu, 11 Jun 2009 08:13:39 -0600

Thursday, June 11, 2009 - Western Canada leads nation's new home price decline - Calgary Herald

CALGARY - New housing prices across the country fell by three per cent in April compared with a year ago, primarily because of continuing declines in western Canadian centres. In Calgary, Statistics Canada said new houses prices fell by 8.8 per cent from April 2008 to April 2009. Edmonton saw a year-over-year drop of 12.5 per cent while Saskatoon had an 11.9 per cent decline. In Vancouver, the drop was nine per cent. The federal agency's New Housing Price Index, released today, also showed th ... Full Article...

posted in News at Thu, 11 Jun 2009 08:12:30 -0600

Tuesday, June 9, 2009 - Home buying remains good investment: CMHC survey - Calgary Herald

CALGARY - A national consumer survey released today says nearly 90 per cent of recent home purchasers believe that home ownership is a good long-term investment and almost 70 per cent think that now is a good time to purchase a home. The 2009 Mortgage Consumer Survey by Canada Mortgage and Housing Corp., also indiciate that recent purchasers are knowledgeable about the mortgage process and their lender's assessment of eligibility - 86 per cent say that the level of total housing and other mont ... Full Article...

posted in News at Tue, 09 Jun 2009 10:24:47 -0600

Monday, June 8, 2009 - Calgary's housing starts continue slide - Calgary Herald

CALGARY - Housing starts in the Calgary census metropolitan area continue to plunge compared with year ago levels. According to preliminary data released today by Canada Mortgage and Housing Corp., total housing starts in the Calgary region fell to 480 units in May, more than 1,000 units below the 1,488 units started in May 2008 — a nearly 68 per cent drop. Year-to-date, housing starts in the Calgary CMA are down by nearly 79 per cent until the end of May compared with the same period i ... Full Article...

posted in News at Mon, 08 Jun 2009 09:12:26 -0600

Monday, June 8, 2009 - Several choices for rec mortgages - Calgary Herald

Some advice for owners of recreation properties, as well as for people considering making a purchase: Financing From RBC Royal Bank Canada at www.rbc.com:There are three main financing alternatives for purchasing a vacation home: -A conventional mortgage allows you to finance up to 75 per cent of the purchase price of the home, thus requiring a down payment of at least 25 per cent. -An insured mortgage makes it possible to finance up to 95 per cent of the value of a second home. If you hap ... Full Article...

posted in News at Mon, 08 Jun 2009 09:11:45 -0600

Monday, June 8, 2009 - GenerationXbuyers to replace boomers - Calgary Herald

For a few different reasons, a national real estate agency says generation X is poised to replace baby boomers as the main demographic buying up recreational properties. In a recent report, Re/ Max says most of the 50 Canadian markets it surveyed this year "reported a marked trend toward 30-something buyers snapping up affordablypriced product, ranging from waterfront cottages to resort condominiums, compared to just 40 per cent in 2008." Part of the reason, Re/Max said, is the growing financ ... Full Article...

posted in News at Mon, 08 Jun 2009 09:10:14 -0600

Monday, June 8, 2009 - First-timers key to reviving market - Calgary Herald

The expected return of first-time homebuyers to the marketplace is seen as key to the rejuvenation of Canada's housing sectors, says a real estate industry executive. A growing number of newbies to home ownership-- considered the largest single buying segment--have been sitting on the sidelines since it became obvious Canada wasn't going to avoid the global recession, says Phil Soper, president and CEO of Brookfield Real Estate Services. At the height of the housing boom, which started to def ... Full Article...

posted in News at Mon, 08 Jun 2009 09:09:13 -0600

Monday, June 8, 2009 - Buyer who hesitates ends up losing out - Calgary Herald

Low interest rates joining federal incentives To jump or not to jump. I guess the question that plagues new home buyers is "should we jump in now, or should we wait to see if the market is still dropping?" Well, if you know someone in this situation, they may have already missed the bottom. Let's take a few key indicators of what's going on in the market : - Because of the low interest rates there has been a flurry of new home buyers who didn't have to sell their home because they were renti ... Full Article...

posted in News at Mon, 08 Jun 2009 09:08:20 -0600

Wednesday, June 3, 2009 - Calgary condo developer unveils stimulus package for prospective buyers - Calgary Herald

CALGARY - A downtown condo developer is taking action to “revitalize home ownership” by introducing its own stimulus package for its highrise residential tower. Homburg Invest Inc., said it doesn’t want to sit on unsold condos and Tuesday it announced its program for the 19-storey Castello development at 530 12th Ave. S.W. In the 106-unit building, there are 42 remaining to be sold. Aside from a 10 per cent down payment, the stimulus package includes that the balance would ... Full Article...

posted in News at Wed, 03 Jun 2009 11:09:33 -0600

Wednesday, June 3, 2009 - Year-over-year sales in Calgary?s housing market increased in May - Calgary Herald

CALGARY - For the first time in many months, year-over-year sales in Calgary’s housing market have increased — an encouraging sign that the real estate industry is moving away from the winter and early spring doldrums. MLS sales in May for both single-family homes and condominiums were higher than May 2008. The last time single-family home sales were higher in a month compared with the previous year was in September 2008 while for condos it was April 2007. There were 1,584 single ... Full Article...

posted in News at Wed, 03 Jun 2009 11:08:31 -0600

Wednesday, June 3, 2009 - Calgary building pace slackens - Calgary Herald

Residential building permit values continue to struggle. Figures from the City of Calgary's Development and Building Approvals department show that during April, the value of permits was $311 million, down 60 per cent from the same month a year ago. But city officials say that because of changes enacted to the province's building code, there has been a slight increase in the number of permits taken out.

posted in News at Wed, 03 Jun 2009 11:07:36 -0600

Wednesday, June 3, 2009 - Acreage sales decline - Calgary Herald

Acreages are still in demand, but like other sectors of the real estate market, those sales have waned in the past year. For the first four months of this year, 128 properties have changed hands, down from 233 for the same period a year ago, says the Calgary Real Estate Board. Running parallel with the slowdown in demand is a drop in the average and median prices. To date, the average is sitting at $743,897 compared to last year's$856,561. The median is $635,000, more than $113,000 below 2008's ... Full Article...

posted in News at Wed, 03 Jun 2009 11:06:32 -0600

Wednesday, June 3, 2009 - Boomers set to hit market - Calgary Herald

Here we go again. Baby boomers, having practically remade the western world in their own image, are gearing down for retirement, and this time it's the housing market that's being transfigured. Or at least getting a nip and tuck. Some 3.7 million Canadian boomers are between 55 and 64 years old, prime retirement age, according to Statistics Canada's 2006 census. In less than 10 years, that age group will skyrocket to one in five Canadians. True, it will take a while for all the boomers -- ... Full Article...

posted in News at Wed, 03 Jun 2009 11:05:25 -0600

Monday, June 1, 2009 - Calgary building pace slackens - Calgary HErald

Residential building permit values continue to struggle. Figures from the City of Calgary's Development and Building Approvals department show that during April, the value of permits was $311 million, down 60 per cent from the same month a year ago. But city officials say that because of changes enacted to the province's building code, there has been a slight increase in the number of permits taken out.

posted in News at Mon, 01 Jun 2009 11:05:34 -0600

Monday, June 1, 2009 - Acreage sales decline - Calgary Herald

Acreages are still in demand, but like other sectors of the real estate market, those sales have waned in the past year. For the first four months of this year, 128 properties have changed hands, down from 233 for the same period a year ago, says the Calgary Real Estate Board. Running parallel with the slowdown in demand is a drop in the average and median prices. To date, the average is sitting at $743,897 compared to last year's$856,561. The median is $635,000, more than $113,000 below 2008's ... Full Article...

posted in News at Mon, 01 Jun 2009 11:04:33 -0600

Monday, June 1, 2009 - Boomers set to hit market - Calgary Herald

Here we go again. Baby boomers, having practically remade the western world in their own image, are gearing down for retirement, and this time it's the housing market that's being transfigured. Or at least getting a nip and tuck. Some 3.7 million Canadian boomers are between 55 and 64 years old, prime retirement age, according to Statistics Canada's 2006 census. In less than 10 years, that age group will skyrocket to one in five Canadians. True, it will take a while for all the boomers -- ... Full Article...

posted in News at Mon, 01 Jun 2009 11:03:31 -0600

Thursday, May 28, 2009 - Ring road, transit improvements will drive up home prices on Calgary's fringes - Calgary Herald

CALGARY - House prices in select Calgary neighbourhoods, feeling the impact of upcoming transportation improvements, will get a 10 per cent to 20 per cent premium over and above what the rest of the city’s market gets in the coming years. The Real Estate Investment Network, in a report released today called The Calgary Transportation Effect, said transportation is one of the 12 key fundamentals that drive real estate values up or down. This report focuses on how the completion of the Rin ... Full Article...

posted in News at Thu, 28 May 2009 08:09:09 -0600

Thursday, May 28, 2009 - Calgary home prices' decline steepest in Canada, report says - Calgary Herald

CALGARY - Calgary home prices have seen the steepest decline in the country from peak levels, according to a new housing report released today. The Teranet-National Bank House Price Index said house prices in the Calgary metropolitan area have fallen by 12.7 per cent from their peak in August 2007. The index is estimated by tracking observed or registered home prices over time using data collected from public land registries. All dwellings that have been sold at least twice are considered in ... Full Article...

posted in News at Thu, 28 May 2009 08:08:02 -0600

Thursday, May 28, 2009 - First-time home buyers boosted by low rates, still have economic fears: Royal LePage - Calgary Heral

CALGARY - Lower prices and very low interest rates are motivating Canadians to purchase their first homes - but confidence in the economy and their employment prospects are still weighing on their minds, says a report released today by Royal LePage Real Estate Services. The real estate firm said 86 per cent of potential first-time buyers say low interest rates make them more likely to purchase a home and 81 per cent say lower housing prices are a factor. However, 76 per cent also cite job secu ... Full Article...

posted in News at Thu, 28 May 2009 08:06:32 -0600

Monday, May 25, 2009 - Housing market to bottom in '09 - Calgary Herald

CALGARY - Calgary’s housing market is expected to bottom this year and expand in 2010, according to Canada Mortgage and Housing Corp. In its Spring 2008 Calgary Housing Market Outlook released today, the agency said total housing starts in the Calgary census metropolitan area will plunge by nearly 68 per cent to 3,700 units compared with a year ago - when they were 11,438 units. But in 2010, the CMHC is forecasting total starts to increase by 13. 5 per cent to 4,200 units “as econ ... Full Article...

posted in News at Mon, 25 May 2009 09:23:44 -0600

Monday, May 25, 2009 - Sellers' wait lengthens - Calgary Herald

Long gone are the days of homes selling in a matter of minutes after being listed. That's what was happening when sellers were in control of the Calgary resale housing market. These days, with buyers at the helm, it's has changed dramatically. In April, on average, it was taking 52 days to sell a home, up from an average of 42 days for the same month a year ago. That's because there are more homes and more room to negotiate prices.

posted in News at Mon, 25 May 2009 09:22:30 -0600

Monday, May 25, 2009 - Rising Calgary resales reveal recovery signs - Calgary Herald

Market may have finally bottomed out There is a feeling, just a niggling itch, among industry insiders that maybe Calgary's resale market has bottomed. Sales for the first four months of this year have done nothing but climb, prices appear to have levelled, and the gap between active listings and sales is narrowing. These are all solid signs the market may have hit the bottom of the economic trough and is beginning to scrabble its way up the other side. "Have we bottomed? I think we have, a ... Full Article...

posted in News at Mon, 25 May 2009 09:21:33 -0600

Monday, May 25, 2009 - Affordability drives increase in home sales - Calgary Herald

First-time buyers generate interest Calgary's resale housing market is chugging along. Once in a while, you hear of a home that has attracted more than one buyer, setting up a bidding war--but for the most part, the sales engine in this buyers' market is purring along nicely. In April, nearly 1,300 detached homes were sold through the Calgary Real Estate Board's MLS system, along with 579 condos. As I've said previously, affordability is playing a key role for those buyers who are comfortabl ... Full Article...

posted in News at Mon, 25 May 2009 09:20:21 -0600

Monday, May 25, 2009 - Alberta's MLS sales price to dip in '09, '10: CREA - Calgary Herald

CALGARY - The average residential MLS sale price in Alberta is forecast to fall by 8.8 per cent this year and another 1.1 per cent in 2010, according to a report released today by the Canadian Real Estate Association. The association said the average price in the province will dip to $321,900 in 2009 from the $352,857 it recorded in 2008. The average price is also forecast to fall to $318,300 next year. CREA, in its forecast, said total MLS residential sales will decline by 24.7 per cent this ... Full Article...

posted in News at Mon, 25 May 2009 09:19:06 -0600

Monday, May 25, 2009 - Non-residential construction down in Calgary, across Canada - Calgary Herald

CALGARY - The cost of non-residential building construction decreased by 4.6 per cent in the Calgary census metropolitan area in the first quarter of 2009 from the last quarter of 2008, said Statistics Canada on Thursday. Its composite price index of seven CMA’s across the country showed the quarterly change was down 4.2 per cent nationally, with the biggest decrease in Vancouver at 10.7 per cent. Montreal had the only quarterly increase at 0.4 per cent. “The quarterly decrease (n ... Full Article...

posted in News at Mon, 25 May 2009 09:17:59 -0600

Monday, May 25, 2009 - Stability seen returning to Calgary housing market - Calgary Herald

CALGARY - Calgary’s resale housing market is seeing an uptick in activity as consumer confidence increases and we can expect a slow, steady return to stability over the coming months, says the president of Coldwell Banker Canada. The local resale housing market has slowed compared with last year because of the current economic conditions and the high inventory of new homes built during the past few years of the boom, said John Geha, who was in Calgary on Wednesday speaking to local profe ... Full Article...

posted in News at Mon, 25 May 2009 09:16:55 -0600

Tuesday, May 19, 2009 - Sellers' wait lengthens - Calgary Herald

Long gone are the days of homes selling in a matter of minutes after being listed. That's what was happening when sellers were in control of the Calgary resale housing market. These days, with buyers at the helm, it's has changed dramatically. In April, on average, it was taking 52 days to sell a home, up from an average of 42 days for the same month a year ago. That's because there are more homes and more room to negotiate prices.

posted in News at Tue, 19 May 2009 09:17:46 -0600

Tuesday, May 19, 2009 - Rising Calgary resales reveal recovery signs - Calgary Herald

Market may have finally bottomed out There is a feeling, just a niggling itch, among industry insiders that maybe Calgary's resale market has bottomed. Sales for the first four months of this year have done nothing but climb, prices appear to have levelled, and the gap between active listings and sales is narrowing. These are all solid signs the market may have hit the bottom of the economic trough and is beginning to scrabble its way up the other side. "Have we bottomed? I think we have, at ... Full Article...

posted in News at Tue, 19 May 2009 09:16:59 -0600

Tuesday, May 19, 2009 - Affordability drives increase in home sales - Calgary Herald

First-time buyers generate interest Calgary's resale housing market is chugging along. Once in a while, you hear of a home that has attracted more than one buyer, setting up a bidding war--but for the most part, the sales engine in this buyers' market is purring along nicely. In April, nearly 1,300 detached homes were sold through the Calgary Real Estate Board's MLS system, along with 579 condos. As I've said previously, affordability is playing a key role for those buyers who are comfortable ... Full Article...

posted in News at Tue, 19 May 2009 09:15:34 -0600

Friday, May 15, 2009 - House prices forecast to drop - Calgary Herald

The average residential MLS sale price in Alberta is forecast to fall by 8.8 per cent this year and another 1.1 per cent in 2010, according to a report released Thursday by the Canadian Real Estate Association. The association said the average price in the province will dip to $321,900 in 2009 from the $352,857 it recorded in 2008. The average price is also forecast to fall to $318,300 next year. The CREA, in its forecast, said total MLS residential sales will decline by 24.7 per cent this ye ... Full Article...

posted in News at Fri, 15 May 2009 07:49:04 -0600

Friday, May 15, 2009 - Alberta's MLS sales price to dip in '09, '10: CREA - Calgary Herald

CALGARY - The average residential MLS sale price in Alberta is forecast to fall by 8.8 per cent this year and another 1.1 per cent in 2010, according to a report released today by the Canadian Real Estate Association. The association said the average price in the province will dip to $321,900 in 2009 from the $352,857 it recorded in 2008. The average price is also forecast to fall to $318,300 next year. CREA, in its forecast, said total MLS residential sales will decline by 24.7 per cent this ... Full Article...

posted in News at Fri, 15 May 2009 07:45:11 -0600

Friday, May 15, 2009 - Non-residential construction down in Calgary, across Canada - Calgary Herlad

CALGARY - The cost of non-residential building construction decreased by 4.6 per cent in the Calgary census metropolitan area in the first quarter of 2009 from the last quarter of 2008, said Statistics Canada on Thursday. Its composite price index of seven CMA’s across the country showed the quarterly change was down 4.2 per cent nationally, with the biggest decrease in Vancouver at 10.7 per cent. Montreal had the only quarterly increase at 0.4 per cent. “The quarterly decrease (n ... Full Article...

posted in News at Fri, 15 May 2009 07:44:02 -0600

Friday, May 15, 2009 - Stability seen returning to Calgary housing market - Calgary Herald

CALGARY - Calgary’s resale housing market is seeing an uptick in activity as consumer confidence increases and we can expect a slow, steady return to stability over the coming months, says the president of Coldwell Banker Canada. The local resale housing market has slowed compared with last year because of the current economic conditions and the high inventory of new homes built during the past few years of the boom, said John Geha, who was in Calgary on Wednesday speaking to local profe ... Full Article...

posted in News at Fri, 15 May 2009 07:43:01 -0600

Thursday, May 14, 2009 - Stability returning to real estate - Calgary Herald

Confidence seen helping Calgary resale market Calgary’s resale housing market is seeing an uptick in activity as consumer confidence increases and we can expect a slow, steady return to stability over the coming months, says the president of Coldwell Banker Canada. The local resale housing market has slowed compared with last year because of the current economic conditions and the high inventory of new homes built during the past few years of the boom, said John Geha, who was in Calgary ... Full Article...

posted in News at Thu, 14 May 2009 08:08:39 -0600

Thursday, May 14, 2009 - Housing starts slide to lowest level since '87 - Calgary Herald

Housing starts in the Calgary region continued their precipitous drop from last year's lofty levels, according to April data released Friday by Canada Mortgage and Housing Corp. Single-detached starts were at the lowest level for the month of April since 1987, while multiple-family starts were the lowest for the month since 1996. A lower demand environment persists in the Calgary region, said Lai Sing Louie, senior market analyst in Calgary for CMHC. "Market conditions still continue to favo ... Full Article...

posted in News at Thu, 14 May 2009 08:04:46 -0600

Thursday, May 14, 2009 - Building permits drop 28 per cent - Calgary Herald

Calgary's estimated construction value of building permit applications for April fell by 28 per cent compared with a year ago. The City of Calgary, in releasing the latest data Friday, said construction value was $270.3 million last month. It was $377.4 million in April 2008. Last month's total is also off by 22 per cent compared with the five-year average of $345 million and down by five per cent compared with the 10-year average of $283 million. The major projects for the month were the We ... Full Article...

posted in News at Thu, 14 May 2009 08:03:51 -0600

Thursday, May 14, 2009 - Calgary construction value tumbles - Calgary Herald

CALGARY - Calgary’s estimated construction value of building permit applications for April fell by 28 per cent compared with a year ago. The City of Calgary, in releasing the latest data on Friday, said construction value was $270 million last month. It was $377 million in April 2008. Last month’s total is also off by 22 per cent compared with the five-year average of $345 million and down by five per cent compared with the 10-year average of $283 million. The major projects for ... Full Article...

posted in News at Thu, 14 May 2009 08:02:41 -0600

Thursday, May 14, 2009 - Calgary housing starts continue to slide in April: CMHC - Calgary Herald

CALGARY - Housing starts in the Calgary region continued their year-long precipitous drop compared to last year’s lofty levels, according to April data released today by Canada Mortgage and Housing Corp. Last month in the Calgary census metropolitan area, single-detached starts amounted to only 234 units, down by 30.4 per cent from the 336 units recorded in April 2008. Multiple-family starts plunged by 88.6 per cent to only 87 units in April compared with 760 starts a year ago. And tot ... Full Article...

posted in News at Thu, 14 May 2009 08:01:44 -0600

Monday, May 11, 2009 - Mortgage insurance ?blessing? :- Calgary Herald

Decision to do without it cost woman her home June Jell will never forget the time she and her husband John sat down with their agent and turned mortgage insurance down flat. Hugh Wesley for Canwest News ServiceJune Jell lost her family home after she and her husband declined mortage life insurance six months before he died of a heart attack. Six months later, he died suddenly of a heart attack at the age of 59, leaving her struggling to keep up with house payments. While she got back on her ... Full Article...

posted in News at Mon, 11 May 2009 08:21:36 -0600

Monday, May 11, 2009 - Now?s the time for home ownership - Calgary Herald

If you’re comfortable about your job future and are thinking about buying a home, then now’s the time, says a mortgage broker official. Calgary Herald ArchiveGary Siegle, Calgary-based regional manager for Invis. The Bank of Canada has lowered its overnight rate to a historic low, mortgage rates are the best they’ve been in quite a while, houses are priced for a buyer’s market, and the federal government introduced a pair of buyer incentives in its February budget, say ... Full Article...

posted in News at Mon, 11 May 2009 08:18:53 -0600

Monday, May 11, 2009 - RATES: Reach all-time low - Calgary Herald

Question: Can you provide three to five quick tips that can help those in the market for a mortgage? Answer: My advice is to: Look beyond the posted rates offered by most banks. Calgary Herald ArchiveLook for a mortgage that will help you buy the home of your dreams without breaking your piggy bank. Do your research, negotiate a better deal and ensure you find that best rate (offered up front by some banks). It can pay off in the long term. Understand that rate is only part of the mortgage e ... Full Article...

posted in News at Mon, 11 May 2009 08:17:53 -0600

Monday, May 11, 2009 - Mortgage rates have never been better - Calgary Herald

Five-year fixed rates decline below four per cent T Calgary Herald ArchiveMake sure you get the best deal on your mortgage before signing on the dotted line. Question: Looking from an historical perspective, when was the last time interest rates were as attractive as they are today? Answer: We’ve never seen mortgage rates this low before. The Bank of Canada’s overnight rate is at an all-time low and many lenders are posting five-year fixed mortgage rates well below four per cent ... Full Article...

posted in News at Mon, 11 May 2009 08:16:46 -0600

Monday, May 11, 2009 - Sales rise for condos - Calgary Herald

Calgary’s resale condo market gathered strength from January to March. Sales nearly doubled, going from 225 transactions in January to 446 by the end of March, says the Calgary Real Estate Board. “The Calgary market is slowly shaking off the winter blues,” says board president Bonnie Wegerich. For the first quarter of the year, 1,011 condos changed hands, up from 886 for the final three months of 2008. As for prices, they are running about 10 per cent below the same period a ... Full Article...

posted in News at Mon, 11 May 2009 08:15:52 -0600

Monday, May 11, 2009 - Resale housing pace takes step upward - Calgary Herald

Activity climbs for fourth straight month For the fourth straight month, resale housing activity has climbed. The malaise that steered home buyers to the sidelines is gradually loosening its hold and tire kickers are being replaced by actual buyers, say figures from the Calgary Real Estate Board. In April, 1,290 single-detached homes changed hands, along with 579 condos. Both figures are well over double the number of transactions recorded in January. As for the average selling price, there w ... Full Article...

posted in News at Mon, 11 May 2009 08:14:43 -0600

Monday, May 11, 2009 - Housing starts slide to lowest level since '87 - Calgary Herald

Housing starts in the Calgary region continued their precipitous drop from last year's lofty levels, according to April data released Friday by Canada Mortgage and Housing Corp. Single-detached starts were at the lowest level for the month of April since 1987, while multiple-family starts were the lowest for the month since 1996. A lower demand environment persists in the Calgary region, said Lai Sing Louie, senior market analyst in Calgary for CMHC. "Market conditions still continue to favo ... Full Article...

posted in News at Mon, 11 May 2009 08:13:08 -0600

Monday, May 11, 2009 - New home prices decline in March; biggest declines in Calgary, Edmonton - Calgary Herald

Prices for new homes fell 0.5 per cent in March from the previous month, led by declines in Western Canada, Statistics Canada said Monday. The biggest declines were in Calgary and Edmonton, with prices falling 1.2 per cent in both cities. Vancouver saw a 1.1 per cent decline and Victoria was down 0.9 per cent, the federal agency said. "In Calgary and Edmonton, declines were attributed to lower material and labour costs and lower lot prices from developers," it said. "In Vancouver and Victor ... Full Article...

posted in News at Mon, 11 May 2009 08:09:40 -0600

Friday, May 8, 2009 - Calgary's blueprint for growth ready for release Plan It Calgary took years of work - Calgary Hera

CALGARY - It's taken more than two years and cost around $6 million, but the blueprint for Calgary's development-- which includes a call for higher-density communities built around transit -- is ready for full public scrutiny. Wednesday's formal release of Plan It Calgary, a document of more than 200 pages meant to act as a template for building the city over the next six decades, is the culmination of years of city work, months of lobbying by the development industry and others and continuous ... Full Article...

posted in News at Fri, 08 May 2009 10:17:43 -0600

Friday, May 8, 2009 - Developer to offer Calgary land to city for $16.4M - Calgary Herald

CALGARY - A developer willing to sell 16 hectares of riverside land to the city says the property has been appraised at $16.4 million -- and he's dropped the requirement that any sale include out-of-pocket development costs. Martin Dolemo, CEO of Dolemo Developments, said he plans to formally approach the city about the land's availability, after running a newspaper advertisement last week. The appraisal, he said, was done in February by Colliers International. As of last July, the city had ... Full Article...

posted in News at Fri, 08 May 2009 10:16:30 -0600

Friday, May 8, 2009 - Calgary housing starts continue to slide in April: CMHC - Calgary Herald

CALGARY - Housing starts in the Calgary region continued their year-long precipitous drop compared to last year’s lofty levels, according to April data released today by Canada Mortgage and Housing Corp. Last month in the Calgary census metropolitan area, single-detached starts amounted to only 234 units, down by 30.4 per cent from the 336 units recorded in April 2008. Multiple-family starts plunged by 88.6 per cent to only 87 units in April compared with 760 starts a year ago. And tot ... Full Article...

posted in News at Fri, 08 May 2009 10:15:06 -0600

Thursday, May 7, 2009 - Building permits show strength - Calgary Herald

The value of building permits in March rose on a monthly basis across Canada as well as in Alberta and in Calgary, according to Statistics Canada. The federal agency reported Wednesday that building permits during the month i ncreased by 20 per cent from February in the Calgary census metropolitan area to $236.5 million. In Alberta, the monthly increase was 34.1 per cent to $696.5 million while the rise nationally was 23.5 per cent to $4.5 billion. In the province, the building permit increas ... Full Article...

posted in News at Thu, 07 May 2009 08:21:01 -0600

Thursday, May 7, 2009 - Mortgage frauds on the rise - Calgary Herald

Scams start to unravel as economy falters About two years ago, in a lawyer’s off ice, Linda put her signature on a document she believed would help someone buy a house. Dean Bicknell, Calgary HeraldSgt. Shawn Goertzen of the police’s commercial crime unit says mortgage frauds occur with the collusion of many people. “These things don’t happen with just one bad guy.” She thought it was an easy way to make some money, while doing good for someone she understood jus ... Full Article...

posted in News at Thu, 07 May 2009 08:17:48 -0600

Thursday, May 7, 2009 - Calgary condo residents get all-clear despite sinkhole - Calgary Herald

CALGARY - Tony Dossett has never been so happy just to sit at home and do nothing. For four nights, he was forced to stay in a hotel and live out of a duffel bag, wondering when it would be safe to return to his Beltline condo. The 48-year-old Dossett received word Tuesday that the sinkhole that forced him and 12 other tenants out of their homes Friday had been filled and that the building was structurally sound. "I'm just sitting here with my feet up enjoying being in my own apartment,"he sa ... Full Article...

posted in News at Thu, 07 May 2009 08:15:26 -0600

Thursday, May 7, 2009 - Real estate markets differ though economies similar for Calgary and Houston - Calgary Herald

Real estate markets in Calgary and Houston are different on several fronts, even though energy indsutry drives both economies. Major Canadian and American cities with similar economies and geographies are experiencing variable price trends this spring, according to a survey released today by Century 21 Canada. In a comparison between Calgary and Houston, the house price survey said price levels are significantly higher and selling times are shorter in Calgary than in Houston but Calgary also ... Full Article...

posted in News at Thu, 07 May 2009 08:14:18 -0600

Thursday, May 7, 2009 - Canadian housing market strengthening: Scotia Economics - Calgary Herald

CALGARY - Canada’s housing market is showing signs of emerging from its winter hibernation, according to the latest Real Estate Trends report released today by Scotia Economics. Across Canada, home sales strengthened in both February and March, and preliminary reports suggest this firming trend continued in April, said the report by Adrienne Warren, senior economist and real estate market specialist with Scotia Economics. The report said a rise in demand combined with fewer new listin ... Full Article...

posted in News at Thu, 07 May 2009 08:13:11 -0600

Thursday, May 7, 2009 - Calgary planning roadmap faces another delay - Calgary Herald

Calgary Aldermen seek 'enough' time amid lobbying A landmark city planning document that has drawn intense lobbying from developers and others should be delayed at least three months, several aldermen will argue next week. Plan It Calgary, the city's vision for development over the next several decades, has already seen some delays over concerns officials weren't doing enough to consult the public. Developers complained about the plan, which they contended would rob people of the chance to l ... Full Article...

posted in News at Thu, 07 May 2009 08:11:57 -0600

Thursday, May 7, 2009 - Sinkholes in Calgary becoming more common, city official says - Calgary Herald

SW Calgary condo buiilding remains closed as a precaution As the city awaits an engineering report on the latest Beltline sinkhole, a city official says more sinkholes have been cropping up lately and hopes builders don't leave open pits unfilled for long. Residents of a condo building at 313 13th Avenue S. W. are still barred from returning to their homes because the structure hasn't been deemed safe. Thirteen residents were forced to leave Friday after a sinkhole was discovered in a parkin ... Full Article...

posted in News at Thu, 07 May 2009 08:10:16 -0600

Thursday, May 7, 2009 - Calgarians more likely to buy condos, poll says - Calgary Herald

Calgarians are more likely than any other region in the country to spend from $200,000 up to $400,000 for a two-bedroom condo, says a national survey released today. According to the 2009 TD Canada Trust Condo Poll, 64 per cent of Calgarians surveyed said they would spend in that price category compared with 56 per cent nationally. Of those considering purchasing a condo as a primary residence, 56 per cent of Calgarians are somewhat likely (versus 61 per cent nationally) and 44 per cent are v ... Full Article...

posted in News at Thu, 07 May 2009 08:08:56 -0600

Monday, May 4, 2009 - Calgary resale housing market rebounded in April - Calgary Herald

CALGARY - Despite a continued economic malaise, job losses and economic uncertainty, Calgary’s resale housing market surprisingly rebounded in April with sales increasing from the previous month. “Spring is giving new life to the residential real estate market,” said Bonnie Wegerich, president of the Calgary Real Estate Board which on Friday released its MLS monthly data for April. “Affordable pricing and low interest rates are drawing buyers back to the market. &ldquo ... Full Article...

posted in News at Mon, 04 May 2009 08:29:45 -0600

Monday, May 4, 2009 - Green shoots emerge in housing Calgary-area home sales rebound in April - Calgary Herald

D espite continued economic malaise, job losses and economic uncertainty, Calgary's resale housing market surprisingly rebounded in April with sales increasing from the previous month. "Spring is giving new life to the residential real estate market," said Bonnie Wegerich, president of the Calgary Real Estate Board, which on Friday released its MLS monthly data for April. "The people that we're seeing out there buying right now are a lot of first-time buyers. There's been enough incentives to ... Full Article...

posted in News at Mon, 04 May 2009 08:28:34 -0600

Monday, May 4, 2009 - SPRING BRINGS BOOST TO CALGARY?S RESIDENTIAL REAL ESTATE MARKET - CREB

Metro Calgary home re-sales at 1,290 Calgary, May 1, 2009 – MLS® sales activity of single family Calgary metro homes was 1,290 in the month of April 2009, showing an increase of 19 per cent from 1,086 sales in March 2009, according to fi gures released by the Calgary Real Estate Board (CREB®). This was a decrease of 5 per cent from April 2008, when single family home sales were 1,363. The number of condominium sales for the month of April 2009 was 579, an increase of 30 per cent from the ... Full Article...

posted in News at Mon, 04 May 2009 08:26:08 -0600

Thursday, April 30, 2009 - Calgary home prices drop steepest in Canada - Calgary Herald

Calgary led the country in February with the steepest decline in house prices, according to a national report released Wednesday. The Teranet-National Bank National Composite House Price Index said Calgary house prices fell by 8.1 per cent year-over-year followed by Vancouver at 6.4 per cent and Toronto at five per cent. The national composite price drop was 4.1 per cent. Calgary also recorded the biggest drop from peak prices. In the city, house prices have fallen by 12 per cent from the Au ... Full Article...

posted in News at Thu, 30 Apr 2009 08:23:00 -0600

Tuesday, April 28, 2009 - Canada's resale housing sector created 202,000 jobs from '06 to '08, report says - Calgary Herald

The resale housing industry in Canada generated more than 202,000 jobs and an average of $22.3 billion annually in various economic spinoffs in the period from 2006 and 2008, according to a study prepared for the Canadian Real Estate Association by Altus Clayton. The report says each residential MLS transaction generated an average of $46,400 in additional consumer spending in the period from 2006 to 2008. This included the purchase of furniture and appliances, moving costs, renovations, serv ... Full Article...

posted in News at Tue, 28 Apr 2009 09:26:53 -0600

Monday, April 27, 2009 - Calgary needs innovation, not imitation - Calgary Herald

The following is the second of a four-part series on the City of Calgary’s Plan It proposal. Lastweek, we looked at Calgary’s planning history. Thisweek, we will look at why Calgary needs a newplan. Photos, Calgary Herald ArchiveTourists on Cypress Mountain on the north shore viewthe downtown core of Vancouver, B.C. Ithink it is pretty safe to say that much less than one per cent of Calgarians (in other words, 10,000 people) will read the 300plus page Plan It document from cover t ... Full Article...

posted in News at Mon, 27 Apr 2009 09:18:33 -0600

Monday, April 27, 2009 - You?re in driver?s seat - Calgary Herald

The following is some advice for potential homeowners from Trevor Gloyn of Canada Mortgage and Housing Corp. on questions from editor Barb Livingstone: Calgary Herald ArchiveTrevor Gloyn of Canada Mortage and Housing Corp. Question: When was the last time interest rates were this low in Canada? Answer: Lenders are providing fiveyear fixed mortgages at around four per cent, while short term variable mortgage rates are being offered just below the five-year rate. In previous periods of economi ... Full Article...

posted in News at Mon, 27 Apr 2009 09:16:34 -0600

Monday, April 27, 2009 - CHOICE: Buy within means - Calgary Herald

Prices generally peaked mid2007 and have generally been softer since. Question: What are the five top tips CMHC would give a homebuyer, in this market, when they are looking to buy? Answer: The time to buy or sell a home is a matter of personal choice. What are your needs? What are your plans for years to come? What is your financial situation? There is no single answer and each individual can have different motivations and needs. But here are some general tips (these are not in any partic ... Full Article...

posted in News at Mon, 27 Apr 2009 09:14:14 -0600

Monday, April 27, 2009 - Sense rather than cents - Calgary Herald

Expert’s tips on variable versus fixed mortgage Traditionally, the most important consideration in choosing a fixed or variable mortgage has beenwhich strategywould save the most money. Kaz Ehara, Canwest News ServiceFinance Prof. Moshe Milevsky of York University is also executive director of the Individual Finance and Insurance Decisions Centre. But that might no longer be the case: Choosing a type of mortgage and term todaymay come down towhat makes sense for the individual homeowner ... Full Article...

posted in News at Mon, 27 Apr 2009 09:12:52 -0600

Monday, April 27, 2009 - Beltline market shows resilience

Calgary’s popular Beltline neighbourhood, just south of downtown, is the only area in the city to experience a positive absorption rate in office space so far this year. A first-quarter report by Avison Young Commercial Real Estate in Calgary said three office buildings are under construction in the Beltline containing more than half a million square feet with 92 per cent of the space pre-leased. Absorption in the office market refers to the change in occupied space from one period to t ... Full Article...

posted in News at Mon, 27 Apr 2009 09:01:49 -0600

Monday, April 27, 2009 - Warranty program protects buyers - Calgary Herald

Every Thing From Deposits To Structural Problems Whether you know it or not, when you decide to build a new home, there's more to it than just picking a community, picking a floor plan you like and deciding on price. When you sign on the dotted line with a builder, it marks the start of a personal relationship that could last a decade. To get the most out of the relationship, make sure the builder is a member of a reputable warranty program and is also a member of the Canadian Home Builders' ... Full Article...

posted in News at Mon, 27 Apr 2009 08:54:29 -0600

Monday, April 27, 2009 - Federal tax breaks to help purchasers - Calgary Herald

Buying your first home is one of the largest investments of your life. The economic action plan introduced in the recent federal budget includes the First-Time Home Buyers' (FTHB) Tax Credit and the expansion of the Home Buyers' Plan (HBP), providing potential homebuyers with additional benefits and helping them realize their dream of home ownership. Here's an outline of the changes from Canada Mortgage and Housing Corp.: - First-Time Home Buyers' (FTHB) Tax Credit: The costs associated with ... Full Article...

posted in News at Mon, 27 Apr 2009 08:52:26 -0600

Thursday, April 23, 2009 - Home equity insulates Canadians - Calgary Herald

Mortgage market faces fewer risks than in U.S. Risks to the Canadian residential mortgage market are much l ower t han in the United States, says a national report released Wednesday by the Canadian Association of Accredited Mortgage Professionals. Based on current housing market forecasts, the outstanding volume of residential mortgage credit is forecast to expand by close to $70 billion in both 2009 and 2010, growing at a rate of 7.6 per cent this year and seven per cent in 2010, said the re ... Full Article...

posted in News at Thu, 23 Apr 2009 08:06:26 -0600

Monday, April 20, 2009 - Recession puzzle tackled - Calgary Herald

Bank of Canada in unfamiliar policy waters The Bank of Canada will be sailing into uncharted waters this week, when it is expected to hold interest rates at a historic low of 0.5 per cent but will unveil a list of possible other steps it could take to stimulate the slumping economy. Here are the key factors weighing on the bank’s decisions: Recession: Carney must decide whether the lagged effects of past rate cuts and fiscal stimulus are enough to turn the economy around as expected in ... Full Article...

posted in News at Mon, 20 Apr 2009 08:22:05 -0600

Monday, April 20, 2009 - Rates favour purchasers -Calgary Herald

Question: Given advantageous mortgage rates, is this a good time to buy for homebuyers? Answer: Anyone thinking of purchasing at this time should consider a few important factors. Know your reason to purchase. If it’s for a place to live, then make sure you can comfortably meet the payments and the property has what you will need in terms of neighbourhood, square footage and the home’s features. The recent decrease in values means you can buy a much larger house for the same money ... Full Article...

posted in News at Mon, 20 Apr 2009 08:18:42 -0600

Monday, April 20, 2009 - THERE?S NO PLACE LIKE A GREEN HOME - Calgary Herlad

Top tips to make the most of your home and garden, with Mother Earth in mind LISA KADANE You’ve heard it all before: Recycle your bottles and cans. Change your furnace filter regularly. Turn off the lights when you leave a room. Chances are, you’ve made some of those small changes in your home. Why? Because small is not only beautiful, it’s manageable and realistic for busy families. When you “act locally,” in the comfort of your own abode, you also save money an ... Full Article...

posted in News at Mon, 20 Apr 2009 08:17:06 -0600

Monday, April 20, 2009 - Home affordability crunch eases - Calgary Herald

Buyer strains still above historical norm A home i n Calgary has become a bit more affordable, according to a report released Thursday by RBC Economics. That’s attributed to a declining housing market along with a slumping provincial economy since the fall, the report says. “Alberta’s affordability conditions have been improving since mid-2007 and continued to do so in the fourth quarter of 2008,” said Robert Hogue, senior economist at RBC. The RBC affordability measu ... Full Article...

posted in News at Mon, 20 Apr 2009 08:09:35 -0600

Monday, April 20, 2009 - Resale housing market shows signs of a thaw - Calgary Herald

Calgary prices, sales up from February levels The residential resale market showed signs of life again in March, both nationally and at a local level. Calgary Herald ArchiveThe average price of a resale home in Calgary edged up in March to $372,114 from $370,198 in February. According to data released Wednesday by the Canadian Real Estate Association, average sale prices and sales increased last month in Calgary from February levels, but remained down compared with a year ago. The average re ... Full Article...

posted in News at Mon, 20 Apr 2009 08:07:05 -0600

Tuesday, April 14, 2009 - Home ownership affordable - Calgary Herald

First-time buyers boosting resale housing market First-time buyers are helping kick-start a sputtering resale real estate market, thanks to some contributing factors, say those in the know. Calgary Herald ArchiveLow interest rates are helping boost sales of condominiums. The low interest rates and other government incentives have helped first-time buyers get into home ownership, says Lai Sing Louie, senior market analyst with Canada Mortgage and Housing Corp. “There are incentives for ... Full Article...

posted in News at Tue, 14 Apr 2009 09:17:23 -0600

Tuesday, April 14, 2009 - ABCs of mortgages help homeowners save money - Calgary Herald

Whittle down amortization period One of the least-known secrets among new homebuyers, in particular, is the huge effect the amortization period of your mortgage has on the interest you will pay during its lifetime. “The key is still to pay it off as soon as you can, within reason,” says Adrian Mastracci, president and portfolio manager with KCM Wealth Management in Vancouver. “Get the monkey off your back in 10 or 15 years, then focus the rest of the time on getting your ret ... Full Article...

posted in News at Tue, 14 Apr 2009 09:15:38 -0600

Tuesday, April 14, 2009 - Expert has tips to get you into a new home - Calgary Herald

Mortgage advice for purchasers B Scott Lygo STEVE AND SCOTT’S BUYING TIPS: Steve and Scott Lygo feel they got a great deal at a great mortgage rate. They’ve heard the stories from their parents of when mortgage rates were 18 per cent and higher 20 years ago, so “we know we’re really lucky,” says Steve. “They gave us an idea of what we were looking at now and down the road.” The twins’ tips for others looking to buy are: ? Have a discussion with y ... Full Article...

posted in News at Tue, 14 Apr 2009 09:13:54 -0600

Tuesday, April 14, 2009 - Sales growth seen as positive sign - Calgary Herald

Although reluctant to say the resale housing market is in recovery mode, the city’s real estate industry is, nonetheless, packing up the resuscitation equipment. Last month’s gains in both sales and prices of homes sold through the Calgary Real Estate Board were the first signs that residential real estate was, perhaps, returning to a more balanced market — and that means a more positive prognosis for the future, says board president Bonnie Wegerich. “It’s still ... Full Article...

posted in News at Tue, 14 Apr 2009 09:11:55 -0600

Tuesday, April 14, 2009 - Consumer interest drives housing industry changes - Calgary Herald

Builders and consumers are both making adjustments to the way they are dealing with the economic downturn and the hesitancy in buying homes. Calgary Herald ArchiveDespite high consumer interest, buyer hesitation due to the economy is stalling the building process. Builders are adjusting their product lines and prices. “People are reluctant to buy right now,” says Dave Hooge, general manager of Stepper Custom Homes. “They’re worried about their jobs, the stock market de ... Full Article...

posted in News at Tue, 14 Apr 2009 09:10:35 -0600

Tuesday, April 14, 2009 - Getting ready for spring - Calgary Herald

Take advantage of warm days to prepare your garden L Cleanup and clipping: ike speeding through a small town, spring in Calgary flashes past too fast. Some years, we seem to go directly from winter into summer. This spring, take advantage of any warmth to get outdoors and begin the annual rite of “getting ready.” All the work culminates in planting, which can begin in late April for pansies, mid-May for hardened perennials and the last week of May for most plants, including the h ... Full Article...

posted in News at Tue, 14 Apr 2009 09:08:17 -0600

Tuesday, April 14, 2009 - Our real estate price obsession Dramatic ups and downs have many Calgarians riveted to real estate

It has become a national obsession. And just like sports aficionados who keep a daily count of the number of goals and assists hockey players such as Jarome Iginla tally, homeowners and potential buyers are well aware of what the prices of single-family homes and condominiums are doing on a daily basis, particularly in the local real estate market. "Even 10 years ago, the obsession was not about our home prices, because we knew it was a good long-term investment," says Don Campbell, president ... Full Article...

posted in News at Tue, 14 Apr 2009 08:58:34 -0600

Wednesday, April 8, 2009 - New home inventories ?worrisome? - Calgary Herald

During Canada’s housing boom, which ran from about 2002 to 2008, unsustainable price increases drove unsustainable levels of building, says a special report released Tuesday by TD Economics. Kevin Lorenzi, BloombergWith Alberta’s economy set to contract this year “home building has likely not yet bottomed,” says a TD report. House prices exceeded the value of housing that was justified by fundamentals by about nine per cent nationwide. “ This overpricing compell ... Full Article...

posted in News at Wed, 08 Apr 2009 09:21:58 -0600

Wednesday, April 8, 2009 - Dream Within Reach - Calgary Herald

Record low interest rates. Dropping house prices. Buyer incentives. It is officially a buyers' market--but how do consumers take advantage of this opportunity? Today, the Herald starts a six-week series called Your New Home. Turn to pages I7 to I10 for more buyer profiles and tips on how you can get the most from this market. And look for more information in the New Homes section each Saturday through May 9. It's the all-Canadian dream: A little house in the suburbs with a sparkling white pick ... Full Article...

posted in News at Wed, 08 Apr 2009 09:17:52 -0600

Wednesday, April 8, 2009 - Housing boom created unsustainable price jumps in Calgary, Canada: Report - Calgary Herald

During Canada’s housing boom which ran from 2002 to 2008, unsustainable price increases drove unsustainable levels of building, says a special report released today by TD Economics. House prices exceeded the value of housing that was justified by fundamentals by about nine per cent nationwide. “This overpricing compelled a level of residential construction that exceeded its fundamentally-justified level by approximately 12 per cent, an excess that was exaggerated in the past three ... Full Article...

posted in News at Wed, 08 Apr 2009 09:16:32 -0600

Wednesday, April 8, 2009 - Calgary real estate prices continue decline in Q1 '09: Survey - Calgary Herald

Calgary residential real estate prices continued to decline in the first quarter of this year, according to the quarterly House Price Survey released today by Royal LePage Real Estate Services Ltd. The real estate firm said the price of a detached bungalow in the city dropped by 11.5 per cent from a year ago to $391,833. The average price for a standard two-storey home fell by 12.4 per cent to $390,689 and the price for a standard condominium dropped by 12.8 per cent to $245,756. The average ... Full Article...

posted in News at Wed, 08 Apr 2009 09:15:32 -0600

Wednesday, April 8, 2009 - Calgary CMA sees precipitous drop in housing starts - Calgary Herald

Total housing starts in the Calgary census metropolitan area fell by a staggering 90 per cent in March compared with a year ago, according to data released today by Canada Mortgage and Housing Corp. The CMHC said housing starts last month were 297 units. They were 3,068 units in March 2008. Through one quarter of this year, total housing starts have reached 746 units, about 4,000 units lower than year-to-date production in 2008 — or a decline of 84 per cent. “Last year in March, ... Full Article...

posted in News at Wed, 08 Apr 2009 09:14:14 -0600

Thursday, April 2, 2009 - Calgary housing market picks up as buyers tiptoe back into market - Calgary Herald

Calgary's housing market picked up in March, with both MLS sales and average house prices for single-family homes and condominiums rising from the previous month's levels. With house prices stabilizing in the past few months, low mortgage rates and still a high selection of properties for sale, more homebuyers entered the resale housing market last month compared with the dismal months of February, January and December. Homebuyers such as Kristen Hulsman and her husband Devon who purchased a ... Full Article...

posted in News at Thu, 02 Apr 2009 08:23:29 -0600

Thursday, April 2, 2009 - CALGARY REAL ESTATE MARKET SLOWLY SHAKING OFF ITS WINTER BLUES - CREB Talk

Calgary, April 1, 2009 – MLS® sales activity of single family Calgary metro homes was 1,086 in the month of March 2009 showing an increase of 32 per cent from 825 sales in February 2009, according to fi gures released by the Calgary Real Estate Board (CREB®). This was a decrease of 23 per cent from March 2008 when single family home sales were 1,418. The number of condominium sales for the month of March 2009 was 446, an increase of 30 per cent from the 343 condominium transactions record ... Full Article...

posted in News at Thu, 02 Apr 2009 08:16:17 -0600

Monday, March 30, 2009 - Spring maintenance tips help to boost house safety - Calgary Herald

Canada Mortgage and Housing Corp. has the following list of tips for spring: Have your furnace, filter, air exchanger, and air conditioner checked by a service technician. Check the temperature of your hot water tank and adjust if necessary. Also have the pressure relief valve tested to ensure it isn’t stuck. Check and clean your range hood filters on a monthly basis. Ensure there’s water in the basement floor drain trap. If not, pour a cupful of water into the drain. Make sure ... Full Article...

posted in News at Mon, 30 Mar 2009 08:16:18 -0600

Monday, March 30, 2009 - Alberta sales set to rise next year

Alberta will show the second strongest resurgence in sales activity among the provinces next year, says a national survey. Calgary Herald ArchiveMore sales and fewer listings will stabilize the resale market in 2010. Facing a predicted decline of 19.1 per cent this year — tied with the forecast for Ontario and right behind B.C’s expected 19.2-per-cent decline — Alberta will see a rise of 15.2 per cent in sales in 2010, says the Canadian Real Estate Association. B.C. will lea ... Full Article...

posted in News at Mon, 30 Mar 2009 08:14:51 -0600

Friday, March 27, 2009 - Mortgage defaults ?alarming? - Calgary Herald

More people in Alberta are falling behind in paying their mortgages — a trend that is expected to continue throughout this year. A mortgage symposium in Calgary on Thursday heard that 55 per cent of mortgage defaults in the country are due to people being “overextended” with nearly 80 per cent of those defaults taking place in the first three years of a mortgage. “It’s an alarming statistic,” said Brian Bell, vice-president of products and marketing for AIG ... Full Article...

posted in News at Fri, 27 Mar 2009 08:00:20 -0600

Friday, March 27, 2009 - Calgary home prices retreat 8.2 per cent - Calgary Herald

Canadian home prices in January were down 2.4 per cent from a year earlier while Calgary showed an 8.2 per cent decline, according to a survey released Wednesday. The Teranet-National Bank composite house price Index reveals the deepening home-price deflation that began last February. “It confirms that in early 2009, after more than five years of seller’s market conditions, Canadian housing as a whole was a buyer’s market,” said the report by Marc Pinsonneault, senior e ... Full Article...

posted in News at Fri, 27 Mar 2009 07:57:46 -0600

Friday, March 27, 2009 - Canadians, Albertans falling behind on mortgage payments - Calgary Herald

More people in Canada and in Alberta are falling behind in paying their mortgages — a trend that is expected to continue throughout this year. And a mortgage symposium in Calgary on Thursday also heard that 55 per cent of mortgage defaults in the country are due to people being “over-extended” with nearly 80 per cent of those defaults by borrowers taking place in the first three years of a mortgage. “It’s an alarming statistic,” said Brian Bell, vice-presid ... Full Article...

posted in News at Fri, 27 Mar 2009 07:55:40 -0600

Wednesday, March 25, 2009 - U.S. economist attacks Calgary's growth blueprint - Calgary Herald

Calgary's long-range civic blueprint, Plan It, reads like something concocted in cities like Toronto, Vancouver, Denver or Portland 20 years ago--and that's a bad thing, a U. S. economist said Tuesday. In their campaign against Plan It's prescriptions for a denser, more transit-centric Calgary, homebuilder and developer groups have brought Randal O'Toole of the Cato Institute to discuss the plan's pratfalls with their members today. O'Toole sharply criticizes the "smart growth"principles those ... Full Article...

posted in News at Wed, 25 Mar 2009 08:40:01 -0600

Wednesday, March 25, 2009 - Energy efficiency a key factor for Canadian homebuyers: Poll - Calgary Herald

A new poll shows that almost all Canadians said that low energy consumption is an important consideration when buying a home. The 16th Annual RBC Homeownership Study indicated 95 per cent of respondents felt that energy efficiency is just as important as the look and appearance of the home , which was cited by 94 per cent of respondents. "Our study indicates that low mortgage rates and favourable housing prices are definitely influencing buying intentions this year," said Karen Leggett, hea ... Full Article...

posted in News at Wed, 25 Mar 2009 08:34:41 -0600

Monday, March 23, 2009 - Industry frustrated over ?cash cow? status - Calgary Herald

Gary Friend likely hasn’t heard about Plan It Calgary. Nor has the new national president of the Canadian Home Builders Association likely heard of Calgary’s Go Plan, or Centre City, or the other schemes coming out of city council aimed at setting the city’s growth — and deciding who will pay for it. But at a recent conference, the Surrey, B.C. builder talked about his frustration with various levels of government using the housing industry as a cash cow to foot the bil ... Full Article...

posted in News at Mon, 23 Mar 2009 09:55:52 -0600

Wednesday, March 18, 2009 - Fingers crossed as housing sales rise - Calgary Herald

There's good news from resale housing. February was the second straight month in which sales increased, but nobody's ready to climb onto the soapbox and declare a market shift. Not yet, anyway. The Calgary Real Estate Board reported that 1,168 detached homes and condominiums changed hands last month--an increase of more than 78 per cent from December and a 50-per-cent rise from January. "In my experience, February has always been a good month, so in that regard it was no blip that sales inc ... Full Article...

posted in News at Wed, 18 Mar 2009 09:27:53 -0600

Wednesday, March 18, 2009 - Alberta to the rescue - Calgary Herald

Alberta and B. C. are expected to lead the rebound in MLS sales activity in 2010, says the Canadian Real Estate Association. But first, the industry has to get through this year, in which sales will decline 16.9 per cent to 360,900 units. These same two provinces will lead the decline this year, along with Ontario. National sales activity is forecast to rebound by 9.9 per cent to 396,600 units in 2010, with the biggest increases seen in Alberta and B. C.

posted in News at Wed, 18 Mar 2009 09:26:29 -0600

Wednesday, March 18, 2009 - Days to sell increases - Calgary Herald

A key indicator of the health of the housing market is the average number of days it takes to sell a property. In Calgary's resale condominium sector, it took 57 days on average to sell a unit in February compared with 45 days a year ago, says the Calgary real estate Board. as for sales, for the first two months of this year, 568 condos have changed hands, down 44 per cent from last year.

posted in News at Wed, 18 Mar 2009 09:25:25 -0600

Wednesday, March 18, 2009 - Mortgage money there for lucky ones Buyers with good credit welcome - Calgary Herald

Six months ago, before the credit crunch bit and risk became a cutting four-letter word, obtaining or renegotiating a mortgage was pretty much a formality. It's harder now. Financial institutions haven't necessarily changed their lending criteria for mort-gages, but they do apply them more strictly. "Greyarea" borrowers who would have received the benefit of the doubt a year or two ago might need to apply several places now before finding a taker. The doors are still wide open, though, for cl ... Full Article...

posted in News at Wed, 18 Mar 2009 09:24:07 -0600

Wednesday, March 18, 2009 - Housing activity in Canada, Calgary sees uptick: CREA - Calgary Herald

More signs today that the residential real estate market is starting to pick up. The Canadian Real Estate Association, in releasing its monthly MLS numbers, said housing activity in Canada was up in February from seasonally-adjusted levels the previous month. In Calgary, combined residential sales numbered 1,392 units in February compared with 928 units in January. The average sale price last month was $370,198, up slightly from $362,143 in January. New listings for February were 3,662 units ... Full Article...

posted in News at Wed, 18 Mar 2009 09:22:18 -0600

Tuesday, March 17, 2009 - Housing sales stronger - Calgary Herald

Monthly stats climb; annual results weaker There were more preliminary signs Monday that the residential real estate market may be starting to pick up. The Canadian Real Estate Association in releasing its monthly MLS numbers said housing activity in Canada was up in February from seasonally adjusted levels the previous month. I n Ca l g a r y, c o mbi n e d residential sales (including single-family homes and condominiums) numbered 1,392 units in February compared with 928 units in January. T ... Full Article...

posted in News at Tue, 17 Mar 2009 08:02:47 -0600

Monday, March 16, 2009 - Fingers crossed as housing sales rise - Calgary Herald

There’s good news from resale housing. February was the second straight month in which sales increased, but nobody’s ready to climb onto the soapbox and declare a market shift. Not yet, anyway. The Calgary Real Estate Board reported that 1,168 detached homes and condominiums changed hands last month — an increase of more than 78 per cent from December and a 50per-cent rise from January. Calgary Herald ArchiveRealtor Robbie O’Leary stands outside a home she sold. Monthly ... Full Article...

posted in News at Mon, 16 Mar 2009 07:59:47 -0600

Thursday, March 12, 2009 - Calgary homes easier to afford - Calgary Herald

More evidence emerged Wednesday that it’s becoming more affordable to buy a home in the Calgary area. Contractors’ selling prices for new homes in Canada dropped the most in Edmonton and Calgary in January compared with a year ago, according to Statistics Canada’s new housing price index. And a national report by real estate firm Re/Max said first-time homebuyers are now the driving force in the resale housing market because of the drop in MLS prices. Statistics Canada said ... Full Article...

posted in News at Thu, 12 Mar 2009 08:24:52 -0600

Tuesday, March 10, 2009 - Calgary home starts slide 76 per cent - Calgary Herald

Condos bear brunt of slowdown Total housing starts in the Calgary census metropolitan area fell by a staggering 76.5 per cent in February compared with a year ago, according to preliminary figures released Monday by Canada Mortgage and Housing Corp. — the lowest monthly level since January 1991. It was also the lowest February level since 1987. And even lower than numbers posted in January. CMHC said total housing starts last month were only 206 units, while in February 2008 they were 87 ... Full Article...

posted in News at Tue, 10 Mar 2009 08:14:30 -0600

Monday, March 9, 2009 - Decline predicted - Calgary Herald

Multi-family housing across the country will be taking a time-out, says a federal agency. After starting construction on nearly 118,000 apartments, townhouses and semi-detached homes in 2008, the forecast for the next two years is decidedly lower, says a forecast from Canada Mortgage and Housing Corp. This year, for instance, the forecast for construction starts of multifamily housing ranges between 75,200 and 96,200. For 2010, the numbers are in the same neighbourhood, running from 74,400 to 9 ... Full Article...

posted in News at Mon, 09 Mar 2009 08:27:46 -0600

Monday, March 9, 2009 - Builders ride out bumpy recession - Calgary Herald

Buyer incentives offered by industry Calgary builders have pulled their cowboy hats down around their ears, wrapped the reins tighter in their hands and laid back in the saddle, ready for a months-long ride on this wild-eyed bucking horse named recession. Calgary Herald ArchiveThe housing industry must fine-tune its operations for the downturn. It was right around Stampede time in 2007 that things started to go sideways for the region’s single-detached building sector. Show home traffi ... Full Article...

posted in News at Mon, 09 Mar 2009 08:26:33 -0600

Monday, March 9, 2009 - Time seen as right to invest in real estate - Calgary Herald

Shaken consumer confidence due to the world economic crisis has clouded the fact that it’s a great time to buy, says a leading real estate investor. Calgary Herald ArchiveDon Campbell, president of the Real Estate Investment Network. “People need to be telescopic in their thinking, not microscopic,” says Don Campbell, president of the Real Estate Investment Network, which has more than 3,400 members across Canada. “Look five to seven years from now. Eventually, oil is ... Full Article...

posted in News at Mon, 09 Mar 2009 08:24:48 -0600

Monday, March 9, 2009 - Pace to decline - Calgary Herald

There will be more than 18,000 fewer single-detached homes built in Canada this year than in 2008, predicts a federal agency. Work is forecast to start on 74,825 homes, down from 93,202 last year, says Canada Mortgage and Housing Corp. But 2010 will be slightly better, with starts expected to check in at 76,600, it says. Starts of all kinds will likely slide to 160,250 this year, down from 211,056 last year, before improving to 163,350 in 2010. In Alberta, construction is expected to start on 1 ... Full Article...

posted in News at Mon, 09 Mar 2009 08:23:21 -0600

Monday, March 9, 2009 - Affordability returning - Calgary Herald

Housing affordability is returning to Calgary’s resale market. The average selling price of single-family homes reached $415,568 in February, down from $471,696 a year ago — a decline of nearly 12 per cent. The average condo price is down to $268,971 from $311,812 a year ago. “Affordability is the silver lining in this market,” says Bonnie Wegerich of the Calgary Real Estate Board. “With low interest rates, broad selection and improved affordability, buying opportu ... Full Article...

posted in News at Mon, 09 Mar 2009 08:22:04 -0600

Friday, March 6, 2009 - Home-buying mood recovers - Calgary Herald

Home-buying intentions in Alberta have rebounded and are back to 2007 levels, according to an RBC home ownership survey released Wednesday. The survey found that 35 per cent of Albertans are likely to purchase a home within the next two years, well above the national average of 27 per cent and up from 29 per cent in 2008. “Home-purchase intentions in Alberta have not only shown big gains over last year, they also remain higher than any other region in the country,” said Don Peard, ... Full Article...

posted in News at Fri, 06 Mar 2009 08:10:30 -0700

Wednesday, March 4, 2009 - Calgary house sales picking up - Calgary Herald March 3

Activity in Calgary’s resale housing market picked up last month from a dismal January and average house prices stabilized. Dean Bicknell, Calgary HeraldFebruary was a busy month for home sales, says Robbie O’Leary, a realtor with Maxwell Westview Realty. TRANSPORT • MLS statistics on the city’s real estate market, released Monday by the Calgary Real Estate Board, indicate there were 825 single-family home sales in February with an average MLS sale price of $415,568. Fo ... Full Article...

posted in News at Wed, 04 Mar 2009 08:56:21 -0700

Monday, March 2, 2009 - Market has helped solve the housing shortage - Calgary Herald

As Albertans watch the value of their houses continue to decline, what should homeowners expect from their provincial government? Premier Ed Stelmach announced in January $7 million in funding for low-income housing in Calgary. “This funding supports strong and healthy communities and is part of government’s overall strategy to create more affordable housing across the province,” he said. House prices in Alberta are falling faster than any province except British Columbia. ... Full Article...

posted in News at Mon, 02 Mar 2009 08:24:27 -0700

Monday, March 2, 2009 - Real estate market prime for first-time buyers - Calgary Herald Feb 28

Many incentives for new homeowners They’re back — but if they’re not, they should be. A few years ago, before diminishing affordability sent them scurrying to the sidelines to continue to share accommodation or hang out at their parents’ homes, first-time buyers were a force to be reckoned with. Photos, Calgary Herald ArchiveFirst-time buyers are flocking back to the housing market now that prices are becoming lower. If they had full-time jobs and could muster together ... Full Article...

posted in News at Mon, 02 Mar 2009 08:17:41 -0700

Monday, March 2, 2009 - Homebuyers winners in council tax fight - Calgary Herald Feb 28

City council has narrowly defeated a proposal that would have seen a land transfer tax imposed on everyone selling their home. Calgary Herald ArchiveCalgary’s city council is looking at a development tax on new or redeveloped lands. In a letter to the mayor and aldermen prior to the recent vote by council, the Calgary Real Estate Board and the Alberta Real Estate Association called the tax unfair. “It is essentially a home buyers’ tax and singles out a select group of indiv ... Full Article...

posted in News at Mon, 02 Mar 2009 08:16:10 -0700

Thursday, February 26, 2009 - Calgary real estate expected to cool - Calgary Herald

Residential real estate activity should moderate further in 2009 alongside a general weakening in domestic economic conditions, says a research report released Wednesday by Scotia Economics. Real Estate Trends, authored by senior economist Adrienne Warren, said Canada can expect a 15 to 20 per cent decline in the volume of resales this year with a further 10 per cent drop in average prices. “Centres with the largest supplydemand imbalance, including Vancouver, Sudbury (Ont.) and Calgary ... Full Article...

posted in News at Thu, 26 Feb 2009 08:15:12 -0700

Wednesday, February 25, 2009 - Lady Home Builder eyes slice of Calgary market - Calgary Herald

Axiom Homes brings unique cost structure She is known as the Lady Home Builder and 24-year-old Danielle Addington has made a name for herself in the Edmonton-area housing market with 18 new homes built, 31 under construction and a unique billing system for clients. Now, as a slowing economy hits new home construction, Addington, founder and president of Axiom Homes Ltd., is expanding to Calgary. The company has set up a temporary office in the city while it explores a permanent office locatio ... Full Article...

posted in News at Wed, 25 Feb 2009 08:42:04 -0700

Tuesday, February 24, 2009 - Council scraps real estate tax - Calgary Herald

Council has scrapped a controversial proposal to increase the land transfer fee home buyers pay during real estate deals in order to help finance affordable housing in the city. Recommendations to explore stable sources of funding, such as a development levy on new and redeveloped property, were approved once the contentious land transfer fee was removed. Ald. Bob Hawkesworth said getting rid of that one item allowed other good measures to go forward. “I think it detracted from the ove ... Full Article...

posted in News at Tue, 24 Feb 2009 08:50:07 -0700

Monday, February 23, 2009 - Look in own backyard - Calgary Herald

As dreams of greener pastures (read: spring) invade thoughts these days, wise homeowners are looking to get the most out of their investments. One of the best places to look is in the backyard. Investing five per cent of the value of your home on landscaping can return 150 per cent or more of the money invested, says a recent Gallup survey of homebuyers. It showed that purchasers believe that well-tuned and professional landscaping around the home can add nearly 15 per cent to a home’s se ... Full Article...

posted in News at Mon, 23 Feb 2009 08:20:23 -0700

Monday, February 23, 2009 - How to get the best mortgage rate out there - Calgary Herald

Sure, credit markets have gone wonky lately, but the good news for people renewing or shopping for a first mortgage is that the wheeling and dealing days for consumers haven’t disappeared. Mortgage borrowers “still have lots of negotiating power, but you need to know what you can negotiate down to,” says Nelly Van Berlo, an accredited mortgage professional and president of the Mortgage Source Inc., a franchise of the Mortgage Centre. It takes some research, selfevaluation an ... Full Article...

posted in News at Mon, 23 Feb 2009 08:18:45 -0700

Monday, February 23, 2009 - Slowing demand affects developers - Calgary Herald

For Calgary’s multi-family housing industry, 2009 will likely be a year in which developers clean up what’s on their plates before asking for a second helping, says a federal agency. Canwest News ArchiveNew construction may not get off the ground until old projects finish up. Coming off 2008, when construction started on 7,051 townhouses, apartments and duplexes — the highest total in more than 30 years — the forecast for this year is for about 1,700 units, says Canada ... Full Article...

posted in News at Mon, 23 Feb 2009 08:14:35 -0700

Monday, February 23, 2009 - Flexibility seen as vital when buying first home - Calgary Herald

Canada’s population is becoming increasingly diverse in nearly every region of the country. According to the 2006 Census, an average of about 240,000 newcomers arrive in Canada each year. As a result, roughly two-thirds of Canada’s annual population growth now comes from net international migration. Moreover, Canada’s immigrant population is itself becoming increasingly diverse. Over the past several years, newcomers have come to Canada from across the globe, including many ... Full Article...

posted in News at Mon, 23 Feb 2009 08:12:52 -0700

Friday, February 20, 2009 - Rebound in housing market eyed for 2010 - Calgary Herald

Calgary’s housing market is expected to rebound in 2010 after housing starts, MLS sales and average sale prices continue to fall this year, says a report by Canada Mortgage and Housing Corp. The Housing Market Outlook, released Thursday, forecast housing starts in the Calgary census metropolitan area to drop by 51.9 per cent in 2009 from the previous year to 5,500 units but to increase by 12.7 per cent in 2010 to 6,200 units. In the Calgary region, MLS sales are expected to fall by 13.6 ... Full Article...

posted in News at Fri, 20 Feb 2009 08:07:45 -0700

Thursday, February 19, 2009 - Martindale community centre gets federal cash - Calgary Herald

It’s been 15 years in the works, but construction will soon start on a $120-million community centre in Martindale. More funding for the facility arrived Wednesday when the minister of Human Resources and Skills Development Canada announced the federal government is contributing $15 million. The federal money comes from the Enabling Accessibility Fund, which gives money to projects that improve accessibility. “All programs — recreational, fitness, educational and cultural & ... Full Article...

posted in News at Thu, 19 Feb 2009 09:52:57 -0700

Tuesday, February 17, 2009 - Resale Market Gathers Strength - Calgary Herald Feb 14

Maybe it was the weather, maybe it was wanting to start the new year on an optimistic note, or maybe people were just being spontaneous. Calgary Herald ArchiveIt’s a tough market for sellers, but residential sales picked up last month. In January, 550 homes sold, up from 449 a month earlier. Whatever the reason, as January moved along there seemed to be more open house signs popping up around the city — and “for sale” signs with “sold” stickers slapped on t ... Full Article...

posted in News at Tue, 17 Feb 2009 08:56:39 -0700

Tuesday, February 17, 2009 - City Realtor All Ears To Buyer Concerns - Calgary Herald Feb 14

Officially, he’s the manager of business practices. Unofficially and more to the point, Don Dickson is the complaint department for the Calgary Real Estate Board. Calgary Herald ArchiveRead all documents in a real estate transaction to protect yourself. And with the dramatic changes that have affected the region’s resale housing market — and with more changes expected as 2009 progresses — Dickson is geared up to listen to concerns, issues and gripes from consumers and ... Full Article...

posted in News at Tue, 17 Feb 2009 08:54:59 -0700

Tuesday, February 17, 2009 - City Council Weighs Housing Tax Grab - Calgary Herald Feb 14 -

They’re persistent, you gotta give them that. Certain members of council, along with Mayor Dave Bronconnier, have again regurgitated the idea of slapping a one-per-cent tax on the sale of new homes — and to go along with that, a second part of the idea is slapping the land development industry with another levy on new and redeveloped property. Calgary Herald ArchiveCity council is considering a one per cent tax on the sale of new homes. A city committee, though, has asked for more ... Full Article...

posted in News at Tue, 17 Feb 2009 08:52:15 -0700

Tuesday, February 17, 2009 - Home Affordability On Rise as Sales Dip - Calgary Herald Feb 14

MLS residential sales across the country fell by a l most 4 1 per cent in January compared with a year ago, but affordability improved with average sale prices dropping as well, according to the Canadian Real Estate Association. Calgary Herald ArchiveJanuary MLS house sales fell 49 per cent in Calgary. In releasing its national monthly data Friday, CREA said house sales fell by 58.5 per cent in Greater Vancouver and by 49 per cent in Calgary. “Weak sales activity in January follows the ... Full Article...

posted in News at Tue, 17 Feb 2009 08:48:08 -0700

Thursday, February 12, 2009 - New homes in Calgary become more affordable - Calgary Herald

Building costs ‘starting to come down’ It’s getting cheaper to buy a new home in the Calgary region. Data released Wednesday by Statistics Canada suggests the prices of new homes here are continuing to fall. Dean Bicknell, Calgary HeraldLower building costs and a competitive market have combined to make it easier for buyers to afford a home in Calgary. The federal agency’s New Housing Price Index indicated contractors’ selling prices in the Calgary census metropo ... Full Article...

posted in News at Thu, 12 Feb 2009 08:06:14 -0700

Thursday, February 12, 2009 - Tumbling home values boost mortgage defaults - Calgary Herald

‘We have never seen this many foreclosures’ More Calgarians are defaulting on mortgages and losing their homes in a toxic stew of rising job losses, falling house prices, the credit crunch and ill-timed investments. Dean Bicknell, Calgary HeraldMortgage broker Adnerys Armstrong, who specializes in high-risk borrowers, says she’s taking extra time to warn customers of the dangers of foreclosure, as the global financial crisis has made banks more wary of lending risks. CRANSTON ... Full Article...

posted in News at Thu, 12 Feb 2009 08:03:50 -0700

Wednesday, February 11, 2009 - Landlord Safety Law "Has No Teeth" MLA - Calgary Herald

An Alberta MLA is backing a provincial court judge’s call to review the fines for public health violations, saying the maximum penalty is not enough to compel landlords to make residences safer. Calgary Currie MLA and Liberal housing critic Dave Taylor said the $2,000 fine for Public Health Act transgressions equals about two months’ rent for the average landlord. “That’s not much of a penalty for an offence that clearly endangers the health and safety of tenants,&rdqu ... Full Article...

posted in News at Wed, 11 Feb 2009 08:56:20 -0700

Wednesday, February 11, 2009 - Throne Speech Looks Beyond Boom - Calgary Herald

Tories ready to spend in bad times The Alberta government will open its pocketbook, splashing billions of dollars on infrastructure and carbon capture projects, contending spending now will lessen the wallop of a worsening global economic storm. Exactly how much won’t be known until the provincial budget, but Tuesday’s throne speech signalled the Stelmach government will use its emergency savings to stem job losses, attract private-sector investme n t and encourage consumer spendin ... Full Article...

posted in News at Wed, 11 Feb 2009 08:53:50 -0700

Wednesday, February 4, 2009 - Housing sales plunge in January by 50 per cent over last year - Calgary Herald

SLOW RESALE MARKET PROMPTS COUPLE TO BECOME LANDLORDS Average price drops 9.3% No matter how you look at it, Calgary’s resale housing market took a beating in January compared with last year. Scot and Jacquelynn Benson bought a home in Chestermere in September, and decided to keep their condo in McKenzie Towne and rent it out rather than try to sell it. MLS sales plunged by a staggering 50 per cent, sending the average sale price down by 9.3 per cent for single-family homes and 13 per c ... Full Article...

posted in News at Wed, 04 Feb 2009 10:20:51 -0700

Monday, January 26, 2009 - Prices Decline As Sales Drop - Calgary Herald - Jan 24, 2009

What a difference a year makes. From October to December 2007, just one condominium sold in the entire city for a price less than $200,000. Calgary Herald ArchiveThe inventory of resale condos has declined by nearly half since May. For the same period in 2008, nine neighbourhoods posted average prices below $200,000 for 23 condos. The fourth quarter is traditionally one of the slowest in the year for anyone selling a home. Kids in school are settled for the year, so their parents are not ab ... Full Article...

posted in News at Mon, 26 Jan 2009 08:29:01 -0700

Friday, January 23, 2009 - Real estate forecast called optimistic

The average MLS sale price for a singlefamily home in the city will drop by two per cent this year while for condos it will decrease by five per cent, says the Calgary Real Estate Board in its annual forecast released Wednesday. The board also said single-family listings will remain the same as in 2008 but sales will increase by 10 per cent. In the condo market, it forecasts listings to increase by five per cent in 2009 but sales to fall by five per cent. Despite a “significant slowdow ... Full Article...

posted in News at Fri, 23 Jan 2009 09:50:18 -0700

Wednesday, January 21, 2009 - Calgary Herald - Incoming Real Estate Chief Expects Return To Stability

Board president says buyers see opportunity The past year saw the local residential real estate market come back to earth after a couple of boom years when average prices were soaring. Grant Black, Calgary HeraldBonnie Wegerich, who takes over today as president of the Calgary Real Estate Board, says low interest rates, low unemployment and price adjustments are factors that have buyers returning to the market. When 2008 was over, the average MLS sale price of a single-family home in Calgary ... Full Article...

posted in News at Wed, 21 Jan 2009 08:44:09 -0700

Monday, January 19, 2009 - CALGARY LEADS HOME PRICE DECLINE - Calgary Herald January 16, 2009

Calgary posted the second-highest year-over-year percentage decline in residential MLS sales in the country in 2008 and led the country with the biggest annual drop in the average sale price, according to statistics released Thursday by the Canadian Real Estate Association. The national organization said total sales in Calgary last year dropped by 28.1 per cent, just behind the 35.5 per cent plunge in the Greater Vancouver real estate market. The average MLS sale price in Calgary fell by 2.1 ... Full Article...

posted in News at Mon, 19 Jan 2009 09:08:54 -0700

Thursday, January 15, 2009 - Real Estate More Stable Here Than Elsewhere in Canada - Calgary Herald

Road map to real estate ZoomBookmarkSharePrintListenTranslateBuying guide walks first-time home owners through process It’s a buyer’s market out there and first-time home buyers who resisted the urge to take the plunge when the market was hot are now finding good things come to those who wait. DEBRA BRASH, TIMES COLONISTMatt and Nicola Priestly rented while many of their friends were plunging into a high-priced real estate market. Now the young couple has been able to buy a home in ... Full Article...

posted in News at Thu, 15 Jan 2009 11:38:53 -0700

Monday, January 12, 2009 - CREB TALK

CREB TALK - January 9, 2009 REAL ESTATE MARKET COOLS AS 2008 COMES TO A CLOSE Single family Calgary metro sales for the month of December totaled 449, showing a decrease of 47 per cent from the 846 sales in December 2007 and showing a decrease of 33 per cent from November’s sales of 670. The year end number of Calgary metro single family sales was 13,455, showing a decrease of 27 per cent from the 18,438 sales recorded in 2007. The number of condominium sales for the month of December wa ... Full Article...

posted in News at Mon, 12 Jan 2009 08:37:48 -0700