Calgary Real Estate Blog

Print off your own complimentary Spruce Meadows Tickets for the Masters September 4 – 8, 2013!

With this ticket, you will experience:
• A full day for two of International Show Jumping at Spruce Meadows
• Shopping and Entertainment from Wednesday through Sunday
• Pony Rides presented by Kozy Shack and Wagon Rides from Wednesday through Sunday
• Spruce Meadows Prairie Dogs, presented by Re/Max, performances on Friday, Saturday and Sunday
• German State Stud Stallions, Parades & Band Performances on from Wednesday through Sunday
• Good for one day of the ‘Masters’

Each ticket admits 2 Adults / Teens. Children 12 & under / Seniors 65+: Free • Rush Seating • Non-Refundable • Not for Resale

Enjoy!

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

Mount Royal is one of Calgary’s most wealthy neighbourhoods, and as such is home to some of the most stunning real estate in the city; in the mid-2000s, one family that owned three adjacent lots was profiled in the Calgary Herald for its plans to construct one massive home in the style of the Chateau Lake Louise.  The economic downturn in 2008 put a hold on those plans, but it still gives an idea of the imagination (and resources) with which property is approached here.

Located in the southwest, Mount Royal was originally called “American Hill” due to the large proportion of US-immigrants who chose to reside there. Just under 3200 people currently call Mount Royal home, served by the public schools Earl Grey Elementary and Mount Royal Junior High. The community is split into Lower Mount Royal, which is mostly comprised of condominiums and townhomes, and Upper Mount Royal, which is almost entirely single family homes; median income in Upper Mount Royal is nearly four times that of Lower Mount Royal.

With its close proximity to downtown and the bustling strip of 17th Avenue SW, amenities are plentiful in Mount Royal, with a vast selection of restaurants to choose from and a complete compliment of cultural opportunities. Additionally, Elbow Drive provides easy access to Chinook Mall and other nearby attractions. Residents may also access the Glencoe Club, a private sports and recreation facility serving Mount Royal and Elbow Park, founded in 1931.

To see homes available in Mount Royal, do a Quick Search.

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

The impact to the city from last month’s flooding continues to make itself felt, aggravating an already serious shortage of rental spaces. As rental vacancy rates approach zero percent, properties that had secondary suites grandfathered in are now having to be rebuilt according to current zoning, meaning those suites are gone for good.

Alderman John Mar proposed a mass approval of secondary suites to ease the rental crunch, but that proposal was defeated (although, not by much); it is sure to be raised again in the lead up to this fall’s municipal election. The City, since 2009, has been offering homeowners in appropriately zoned areas grant money to create secondary suites, handing out $9 million in three years. Including illegal dwellings, there are well over 60,000 secondary suites in Calgary.

Some people love secondary suites: they’re a great way to generate income from a property, and provide quality accommodations for quiet students and working singles. Others cite traffic concerns and a loss of ‘community feeling’ when more renters enter a neighbourhood. How do you feel? Has the flood, and its fallout, made you more agreeable to having secondary suites permitted where you live?

The northwest community of Bowness has a pretty fascinating history, being one of a few Calgary neighbourhoods that was originally a town unto itself before becoming amalgamated into the city proper. Indeed, there is evidence of native peoples inhabiting the Bowness area more than 10,000 years ago, at the end of the last ice age.

In the early 1900s, after changing hands several times, Bowness was purchased by an English inventor who developed the land, put in a bridge, and arranged for transit service to Calgary in exchange for donating what is now known as Bowness park to the city. The community grew, slowly, until it became part of Calgary in the early 1960s.

Bowness is now a thriving and diverse community, home to more than 11,000 people with a median household income of just over $40,000. About a third of the residents live in condos or townhomes. Those who call Bowness home enjoy the many recreation opportunities available at the Bowness Community Hall and Sportsplex, which includes an ice rink, meeting rooms, and one of the largest halls in Calgary. Outdoors, there’s the aforementioned Bowness park and the Bowness Golf and Country Club.

The community is close to the mountains, but also adjacent to 16th Avenue for easy travel downtown, or connection to southern routes like Sarcee Trail. 

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

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