332 Cougartown Ci SW

What an opportunity! Awesome deal in a great neighbourhood. Next door is for sale too (C3586467 – you could own the full duplex). Nice open plan with 9′ ceilings, an island kitchen, a corner fireplace in the living room and a main floor den area. 3 large bedrooms upstairs. Master has an ensuite and a huge walk-in closet. Corner lot with a very large back yard with potential for RV parking. Right near a playground and green space. Close to schools, restaurants and shopping.

For more photos, full listing details, virtual tour & floorplan visit our webpage.

City council has been debating what I expect will be a hot topic in upcoming civic elections: secondary suites, where they can be, and how easy they should be to add to the market. Mayor Nenshi was pushing for major revisions to laws around the suites, but the majority of council preferred small, incremental changes: secondary suites damaged in the flood that had been grandfathered in, for example, can be rebuilt without rezoning, for example, much to the relief of the overwhelmed rental market. And a pilot project has been launched to inspect secondary suites for safety and adherence to code, which should come as a relief to tenants looking at their single window and wondering if they could actually crawl out of it in a fire.

So, good stuff, if perhaps not particularly groundbreaking. With the sales market in Calgary as hot as it is, with prices up more than eleven percent over last year, though, there are bound to be more residents looking to rental properties as a stopgap until deposits can be saved up – and plenty of investors will want to be capitalizing on their property holdings by adding basement suites for additional income. Surely once debates begin in the aldermanic races, lines are going to be drawn showing where each candidate stands on increasing our city’s stock of secondary sites, and that could seriously affect outcomes in ridings popular with, say, university students. This is a topic to watch.

The 35 year-old community of Edgemont, in Calgary’s northwest quadrant, is one of the city’s largest, boasting a population of nearly 16,000 in 2012. Butting right up against the formidable Nose Hill Park, Edgemont residents have access to some of the most extensive hiking trails available within the city limits of any North American community.

Edgemont has an active community association, hosting business expos, craft sales, a skate park, and hall rentals. Kids in Edgemont attend one of three schools in the community through junior high, then move on to nearby Sir Winston Churchill and Saint Francis high schools.

Median household income in the community is on the high side, about $88,000, with about a third of the residents having immigrated from other countries.

To see homes available in Edgemont, do a Quick Search.

To get a complete market report on Edgemont, or any other neighbourhood you are interested in, use our quick and easy market report request.

Here’s a record I didn’t expect to see made: a week ago this last Friday, twelve homes sold for more than a million dollars each, at the end of a month that saw 67 percent more luxury homes change hands than in any previous month, ever. Even in the standard market, some are reporting homes selling for $100,000 over list price. Yep, it’s a seller’s market alright.

If you’re considering getting in on the fun as a buyer, I can’t recommend strongly enough that you secure a pre-approved mortgage before going shopping. When competing offers are involved, potential buyers without pre-approval are at a serious disadvantage, so a trip to your lender is a half hour well spent.

Those of you looking to sell, work with your Realtor (I’m available) to come up with an appropriate price for your neighbourhood and you should have no problems getting your home sold.

I’m often writing/bragging about how well the real estate market is doing locally, and with good reason: it’s on fire like we haven’t seen in eight years. But it’s encouraging to hear some good news coming in from around the country, especially major markets like Vancouver and Toronto.

The Conference Board of Canada predicted today that the condo market is unlikely to plummet, even in Toronto where there has recently been concern about an abundance of new multi-family dwellings being built. While things may cool a bit, especially if interest rates rise, the Conference Board concluded that banks were doing a good job of keeping construction from getting out of control by virtue of construction loans being contingent on pre-sale thresholds, and growing populations in metropolitan areas will continue to be on the lookout for condos.

And the Canadian Real Estate Association is talking about Vancouver’s market growing nearly ten percent year-over-year for July, while Toronto’s up almost thirteen percent.

So, while we’re leading the charge thanks to generous incomes and a growing population, ours isn’t the only city with busy Realtors. I love good news.

It should come as no surprise to readers of this space that 2013 is on track to set a sales record, with well over $9 billion in sales being transacted; to date, the city has seen nearly $7 billion in real estate changing hands. Resale prices are up, and people are still buying, thanks to some very solid employment numbers (we’re one of the country’s only bright points on that front), relative affordability (especially in the condo market), forced moves due to the flood, and just the general appeal of our city to people from all over. Calgary’s a place where you can get a good job and raise a family without too much fear of the bottom falling out of your lifestyle.

So, of course, there’s gotta be the end times coming, and naysayers point to a slowdown in the purchase of land for new properties to show that they’re almost here. Call me optimistic, but I just don’t buy that as proof that we’re in a bubble about to burst. Developers have bought up huge swaths of land recently to keep up with the demand in our hot seller’s market, but they still recognize that the country’s fragile economy will likely lead to some ebbs and flows. So the houses get built, they sell, then new rounds of purchasing can begin. While suggestions that land purchases have dropped more than 50 percent in Calgary year-over-year may sound alarming, the other way to look at that is there was a lot of land bought up last year that’s becoming homes sold this year.

Real estate markets cycle, they don’t generally boom and bust without outside factors manipulating them (as was the case in the US some years ago). So, as I seem to say often around here, take the alarmist news with a healthy dose of skepticism.

What an awesome inner-city home. This one has it all. Perfect for both a growing family, or those without kids alike. Over 2400 sq.ft. of developed space will do well to give everybody some space, and is also great for entertaining. Deluxe kitchen with a gas stove and granite counters. Main level has hardwood and two fireplaces. The landing half-way up the stairs could be a perfect place for a small desk or reading chair. The large master bedroom boasts a luxurious 5-piece ensuite complete with skylight, and a closet with custom built-ins and a window for natural light. The two other bedrooms share a dual-sink jack-and-jill bathroom with two separate areas. The laundry is on the upper floor as well. The lower level is finished as a family/rec room with built-in theater speakers, and dimmable theater lights. There is also ample space for storage as well.

To view more photos, floorplan and full listing details visit my webpage.

One owner home, this is a rarity! Seldom does a condominium of this type come on the market. Two very large bedrooms each with a private bathroom. Both baths have double sinks, one has a steam shower and the other has a soaker tub/shower. This corner unit has extra windows and lots of light. Patio doors with a hidden screen door lead to a curved private balcony. This home features a unique built in computer station with shelves and drawers. When not in use you do not even know it is there! All kitchen appliances stay and the washer and dryer are included. Hunter Douglas shades, in floor heating and brand new paint finish off the interior. Two assigned parking stalls which are beside each other and close to the elevator plus an assigned storage locker. The amenities such as a pool, exercise room, treed grounds, close to bus routes with Marda Loop and Garrison Woods shops and restaurants close by really set this home apart from others. Vacant and ready for you! Act quickly as this one will not last.

To view more phots, floorplan and full listing details visit my webpage.

What a terrific place to live! Situated on a quiet street across from a treed green area. This home features hardwood floors in rooms on the main level except for the kitchen and bathroom. Lower level is fully developed with a family room that has a fireplace, a 4th bedroom, games area, storage area, laundry area, den plus another bathroom. The West facing rear yard is fenced, has R.V. parking plus an over sized double garage that measures 27′ 4″ X 25′ 4″ and is heated!! Great home at a great price. Act quickly as this will not last long!

To view more photos, floorplan and full listing details visit my webpage.

Thanks to the busier than expected real estate market this year, CMHC – the government-backed outfit that offers insurance against mortgages when down payments of less than 20 percent are made – has already reached three-quarters of its cap for the year. The government had allowed for up to $85 billion in mortgage-backed securities to be issued in 2013, and we’ve already hit nearly $64 billion.

What does this mean? Well, the government will want to cool down the market a bit by implementing new rules that make it more difficult to qualify for a mortgage. Further, fixed rates on mortgages will likely be going up, with jumps of between 0.2 percent and 0.65 percent by the fall.

It’s going to become harder to be a pre-approved buyer, which means those who have pre-approval will become highly valued by sellers. Really, that’s one of the first things you should do if you’re entering the real estate market: get pre-approved, so you know what you’re working with and the seller knows you’re serious.

None of this is especially surprising or dire, but it’s well worth being aware of. As more develops, I’ll keep you posted