Earlier this month, the Canadian Mortgage and Housing Corp. announced that it will be increasing premiums on mortgages insured on or after March 17. This applies to home buyers financing more than 65 percent of their new home’s purchase price.

Don’t freak out about this; the increase is minor, and is actually a good step for the health of the  real estate market overall. Consumers financing $245,000 would expect to pay about $5 more per month in CMHC premiums, while those with mortgages worth $350,000 and $450,000 would see increases of just $7 and $8 respectively.

Those looking to lock in at current rates need to have a full application (not just a preapproval) submitted to a lending institution by 9:59 MST on March 13, so unless you’re well on your way to making an offer, the moment has likely passed. However, given the modest level of the increase, it’s not worth rushing a decision just to get in ahead of the deadline.

To get all the specifics about CMHC insurance rates, or to strategize your next home purchase, contact me today!

Whether it’s a short term goal or long term maybe, many of us spend time considering what renovations we could do to our home that would have a significant impact on its value. With tax return season right around the corner, you may have a little extra cash coming in that you could invest in your property.

Global News has posted an excellent article detailing five home renos you can undertake that can have a significant return on investment. Check it out here!

So our economy is turning around as expected in 2017, with the Conference Board of Canada forecasting Alberta to lead the country in economic growth for the year. Oil prices have stabilized, and flowing infrastructure money is helping to create jobs, as is a lowered small business tax rate. All of that adds up to a little more consumer confidence, a little less financial nervousness, and maybe fewer homes on the market.

While Calgary’s real estate landscape never really became over saturated, we did see a large uptick in the numbers as financial realities led owners to downsize. That impetus is waning. Still, it will likely take a couple of years before higher end properties become as sought after as they were a few years ago; the sweet spot is really right around the $430,000-$500,000 mark for quick sales at or near asking price. According to the Calgary Real Estate Board, the communities that had the most sales last year were Tuscany, Evanston, New Brighton, Copperfield, Coventry Hills, Cranston, Auburn Bay, and Evergreen: all of which have plenty of inventory in that mid-range pricing category for detached single family homes.

So, If you’re looking at making an upwards move, now’s a good time to start strategizing. Pricing is stable overall, but if there’s any softness it’s going to be in the higher priced homes. Put a little work into staging your average sized property and making it present at its best, and while we’re not in bidding war territory yet, you’re likely to get a very respectable return. Spring is right around the corner, and is the time of year many people start thinking about making a move, so now’s the time to start preparing if you’re considering a jump into the sales market. I am well experienced in making this kind of upward move, and would be happy to help you formulate a plan – contact me today to get started!

680 STRATHCONA DR SW

This home has had the same owners looking after it since nearly brand new. Neat as a pin; pride of ownership is evident throughout. Panoramic city view that including downtown from both the main and upper floors. In outstanding original condition with updated carpet and some recent paint. Detailed oak woodwork including wainscotting, built-ins, railings, trim; in addition to a wet bar in the living room and a pass through hutch in the dinning room. Enjoy the breathtaking views from the large, fully-enclosed sun-room, or perhaps from the upper deck off the master bedroom. Fully developed down with a large rec-room leading to an enclosed patio, perfect for a green house or perhaps a hot tub. The roof was recently replaced. All appliances are included, this home is move-in ready as-is, or could be renovated by new owners to suit.

To view floorplan, virtual tour and full listing details visit my web page.

Premiering a couple months before the Calgary Home + Garden Show, the Calgary Renovation Show is a new event geared toward both do-it-yourselfers and homeowners looking to hire trades in 2017. It features some big name (for the HGTV set) guests including Jillian Harris, Mike Holmes Jr., and Danielle Bryk, along with furniture and cabinet rehab workshops, and more than 40 exhibitors. Sponsored by Ikea, Cloverdale Paint, and Sleep Country, among others, this show is a great way to spend what’s sure to be a chilly weekend, sparking ideas on how you can improve your home for comfort and maybe even profitability.

I’ve got a promo code to share that will get you 2-for-1 tickets if you buy before January 11 – simply click here and use the promo code SHOWWEEK when checking out.

Forecasters are predicting a stable real estate market this year, with home prices staying pretty much the same as they are right now throughout 2017. If you’re thinking of making a move, well considered renovations can make a significant difference in both how long it take your property to sell, and on the final selling price. Please feel free to contact me with any questions as to what renos tend to have the greatest return on investment, then attend the Calgary Renovation Show for inspiration as to just what you can accomplish on a small budget.

It’s time again to reflect on the year that was, and to be appreciative for all the good we have in our lives, and I certainly have my share. This year hasn’t been my busiest, but I am so thankful for the clients I have served, for my family’s health, for my wife’s continued employment in the besieged oil and gas sector, for my friends, and for all the other blessings I can count. I hope the year has treated you well too, and that the coming twelve months are even better. This holiday season, pour yourself an eggnog (spiced rum optional, but recommended), and spare a thought for everything that went right this year.

Hope you had the merriest of Christmases, and all the best in the new year!

Ryan

I was looking at the Calgary’s real estate statistics for November, and it would seem we may be seeing some positive trends as far as how supply and pricing are moving. For over a year now, the city’s resale market has seen an abundance of listings as people look to downsize or simply move somewhere with better employment prospects, and that increased selection has put downward pressure on prices. Having tonnes of properties to compare is great for buyers, but can be frustrating and discouraging for those on the selling end. The last couple of months have marked a change in that trend, as the number of new listings went down 9 percent in November and a whopping 23 percent in December, while the number of active listings declined an average of 8 percent per month over the same period. At the same time, both median and average prices have continued to increase.

What this means for the average seller is it will be a little bit easier to stand out in the crowd, and the pressure to compromise on price has lessened. We’re still a far cry from the fast times of a few years ago, when many homes were selling for above-asking price before the For Sale sign could be pounded into the front yard, but it’s certainly positive news.

I expect this could be a sign of things to come, as our economy starts to scratch its way back toward growth, employment numbers improve, and our city gets back on its feet. The coming year could be the best year to sell your home that we’ve seen in awhile.

If you want to start hammering out a sales strategy for 2017, please contact me!

Also, the Calgary Renovation Show – a great place to get inspired – is less than a month away, and I’ve got a 2-for-1 ticket promo code for you! Simply visit this link and use the code 1MONTH to take advantage of the deal. Just make sure you do it before December 28, when the code expires.

While our Thanksgiving weekend is merely a turkey-flavoured memory, our neighbours to the south are quickly approaching theirs, and with it comes that most venerable of shopping days, Black Friday. In an effort to keep Canadian snowbirds from flocking to border cities with their holiday shopping dollars, recent years have seen many large local retailers come up with their own Black Friday sales, offering substantial discounts on popular products for one day – or one weekend – only. The perils of rampant consumerism and ballooning household debt aside, Black Friday is an ideal time for the organized and disciplined shopper to quickly take care of his Christmas list quickly. Here are a few suggestions to make your Black Friday experience a little less stressful.

Have a plan

The sheer volume of deals available can be overwhelming and paralyzing, which can result in regret second guessing about opportunities missed and decisions made. As the Scouts say, “Be prepared.” Have a list of everyone for whom you plan to shop, and some ideas of what those people may like, then start planning where to go to get those items. Research the promotions being advertised in the days leading up to the sale, and prioritize the ‘lightning deals’ that may sell out quickly.

Make a budget

Confronted with an abundance of savings, those without a pre-established budget may fall prey to overspending on things they neither need nor planned to buy. It can be easy to think an item is so discounted you just can’t pass it up, but remember: a purchase is only a deal if you were planning to buy it in the first place. You won’t be saving money if you just buy more stuff.

Consider online shopping

As online shopping became more popular, Cyber Monday became an unofficial companion to Black Friday: a day when retailers cleared out leftover stock through their websites. While Cyber Monday sales persist, most larger stores offer their Black Friday deals online as well, and places like Amazon.ca can be one stop shopping for some. With free shipping and generous return policies abound, Black Friday shopping online can be considerably easier, quicker, and less stressful than standing in lines at bricks-and-mortar locations. Just be careful that your items will indeed be received in time for gift giving, and watch that something you intend on purchasing isn’t ‘in-store only’.

Have some perspective

Popular items are going to sell out, especially when they’re heavily discounted and promoted, so there’s a good chance you will experience some disappointment in the middle of Best Buy. Don’t take it out on the staff, or fellow shoppers.The reality is, many stores continue sale prices throughout December to try and drive consumer spending, and discounts will surely be the norm this year as unemployment weighs heavily on Christmas budgets, so you just might be able to get the same item at the same price in a couple of weeks.

Have fun

I don’t know about you, but for me there’s nothing quite like the feeling of saving money thanks to clever shopping and a little patience. Completing your Christmas shopping and saving a few bucks at the same time is reason to celebrate, so plan a lunch stop with a friend during your shopping day, or at least add some Bailey’s to your coffee if you’re shopping at home in your housecoat. Checking out the deals, and being in the midst of a mob of like minded shoppers can be fun with the right attitude, so lean into it!

Why not put those Black Friday savings into a down payment? Contact me to find out why now’s a great time to get into Calgary’s housing market.

#2 2421 29 ST SW

Live big in the heart of Killarney. Proudly welcome your guests into your executive townhome from the vaulted entry. Quality finishing and custom maple millwork prevails throughout. Entertain like a pro from the cook’s kitchen, which features a gas range, granite counters plus loads of cabinet space. Smooth finished 9′ ceilings with pot lights and built-in speakers. West facing exposed aggregate patio nestled in the centre courtyard. Upstairs the lofted den is partially open to below and boasts a built-in desk and bookshelf. The master retreat features (you guessed it) more custom cabinetry, as well as a walk-in closet with plenty of space, and a spa-like ensuite with a deep soaker tub and a separate glass-walled shower. There’s also a jetted tub in the other full bathroom upstairs. This is one of two street-frontage townhouses in a self-managed five-plex. Includes one spot in the private parking garage for residents.

To view more photos, floor plan and full listing details visit my web page.

119 STORYBOOK TC NW

What an amazing place, ~900 square feet of living space! This bright end unit is situated in an ideal location within the complex, next to a green-space and with easy access to the street behind with additional parking. 18+ complex. Nicely upgraded including a recent maple kitchen by Kitchen Craft with loads and loads of storage. The appliances are nearly new too. The bathroom was recently redone including the addition of a deep soaker tub (don’t worry, the hot water tank is an oversized 50-gallons). All the hardware and lighting was replaced as well. Oh, AND there’s a brand new high-efficiency furnace that was installed just this year. The master bedroom is huge and boasts a walk-in closet. The clothes washer and dryer are included. All you have to do is move in! Just a few minutes’ walk to Crowfoot Village and it’s plethora of shops, restaurants, pubs, grocery stores, movie theater, etc. and 15 minutes walk to the Crowfoot LRT.

To view more photos and full listing details visit my web page.