Real Estate Blog

Housing sales slower than typical February

Monthly prices decline for fifth consecutive month 

February sales totaled 1,127 units in Calgary, a 6.63 per cent drop over last year and 37 per cent lower than long-term averages for the month.

City wide unadjusted benchmark prices totaled $445,000 in February, a 0.63 per cent decline over January and 3.45 per cent lower than levels recorded last year.

“Slow sales and elevated housing inventory has resulted in further price declines,” said CREB® chief economist Ann-Marie Lurie. “Given the current economic environment, it is no surprise that consumer confidence and housing demand is being impacted.”

Calgary has seen employment fall for eight consecutive months, while

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Start with your Realtor, Elizabeth Bastedo, 403-999-2808 and Book an Appointment

It is mandatory you find a real estate agent who has experience in selling fixer upper homes. Elizabeth has experience is with selling such homes, knows the average time a listing stays on the market; and finally will tell you what percentage of the list price Elizabeth is successful in getting from each sale. She can also make recommendations and offer advice to get the property sold more quickly.

Find Out The Advantages of Your Home

Just because your home requires repairs and fixing, it doesn’t mean the house has just problems. Every house has some attractive features that buyer will find desirable. You should know the plus points of your home, be it the

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ALBERTA POSTS LARGEST NEW HOUSING SPENDING DECLINE

 Feb 28, 2016  crebnow  Calgary Real Estate News

Construction falls by $135 million

Alberta homebuilders were a little more cautious in January, as new housing construction fell by $135 million in January compared to the same month last year, according to Statistics Canada.

By percentage, Alberta’s 16 per cent decline placed it around the middle when compared to other provinces (spending in Saskatchewan fell by 31 per cent). Based on dollar figures, however, the provincial decline was tops in the country.

Nationally, spending on new residential building construction totalled $3.9 billion in December, up 4.8 per cent from the same month a year earlier.

The increase at the

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ALBERTA POSTS LARGEST NEW HOUSING SPENDING DECLINE

 Feb 28, 2016  crebnow  Calgary Real Estate News

Construction falls by $135 million

Alberta homebuilders were a little more cautious in January, as new housing construction fell by $135 million in January compared to the same month last year, according to Statistics Canada.

By percentage, Alberta’s 16 per cent decline placed it around the middle when compared to other provinces (spending in Saskatchewan fell by 31 per cent). Based on dollar figures, however, the provincial decline was tops in the country.

Nationally, spending on new residential building construction totalled $3.9 billion in December, up 4.8 per cent from the same month a year earlier.

The increase at the

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Mortgage Payment Trouble - Here is Some Advice . . .

The media does a great job at reporting all the doom and gloom news related to the current downturn in the Alberta economy as well as the oil and gas industry.  During this downturn, unfortunately, there will be homeowners who will struggle to make their mortgage payments.  The good news is that there is help out there for you.

CMHC, Canada Guaranty and Genworth all have their own form of a Homeowners Assistance Program.  These programs can be utilized in situations where someone has lost their job, has had their salary reduced, is going through martial separation and even dealing with unexpected health issues.

These programs have a number of possible solutions to assist with the mortgage

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Rather than wait for a household emergency, take time to understand the inner workings of your home's utility infrastructure.  Start by ensuring the whole family knows the location of your main water shut-off valve, so quick action can be taken to minimize damage in the event of a major leak.  From there, you can trace the path of your water supply pipes to each faucet.  Next, locate your main electrical panel.  It should have all room lighting and appliance circuits labelled.  If it doesn't, you should have it done, in order to avoid difficulty in identifying a circuit should one fail, overload or need to be disconnected.  After the power, consider your heating and air conditioning.  If they are delivered via forced air, then ducts are easily

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Smartphone apps assist us in many ways, but homeowners may appreciate them most when embarking on a renovation project.  From wall measurements to colour experimentation, there's a wide range of apps to help simplify tasks and foresee outcomes before you begin.  For example, your phone can calculate the square footage of an irregular room's floor and walls to help calculate required quantities of supplies, or it can act as a level and a plumb - ideal for hanging pictures or building walls.  You can also take photos of items and store them in special files for reference, or search curated products of interest, and find out where to purchase them.  In fact, there's even an app that uses your phone's GPS locator to track the position of the sun from dawn

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Modern, so-called smart appliances, are being designed to offer us more and more convenience and savings.  With their features (such as lighting, heating and cooling) controlled on demand through your phone, as well as the addition of features such as monitoring systems for plumbing leaks, these appliances are getting "smarter" every day.  You might enjoy using your phone to have your coffee maker respond to your alarm clock, to communicate with your oven (as it walks you through a recipe), or to regulate air circulation in your home (by adjusting the delivery at each register or grill, room by room).  Homes are already equipped with tablets embedded in the walls of rooms that control utilities, entertainment and home security functions.  So, there's

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Buying a home is one of the most important financial decisions you will make. To help you understand the process and have confidence in your choices, consult the following glossary of common terms you may encounter during the home buying process.

1. Amortization
Length of time over which the debt will be repaid.

2. Mortgage term
Length of time that the mortgage contract conditions, including interest rate, is fixed.

3. Closing Costs
Costs in addition to the purchase price of the home, such as legal fees, transfer fees and
disbursements, that are payable on closing day. They range from 1.5% to 4% of a home's selling price.

4. Down Payment
The portion of the home price that is not financed by the mortgage loan. The buyer must pay the down
payment from

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