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!

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!

More positive indicators regarding Calgary’s real estate market for 2017, this time from the Calgary Real Estate Board. In its 2017 forecast, CREB predicts about a three percent increase in total units sold, with an increase in detached home prices of nearly a percent. While a far cry from the booming numbers of a few years ago, this kind of stability – with a slow upward trend – is highly reassuring as we emerge from a recession. Check out the whole forecast document here.

Call me an optimist, but I’d suggest CREB is being a bit conservative with its predictions. It’s my feeling that there’s some pent up demand in Calgary’s market, people looking to make a move within the city who were simply waiting out the downturn so as to not experience so much downward price pressure on the property they’re looking to sell. If this is indeed the case, we could see an increase in the number of transactions over the course of the year, and maybe a little bump in the average price.

Regardless, we seem to have weathered a storm and are about to see the sun peaking through the clouds.

Want to plan your sales strategy? Contact me today and let’s have a chat.

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.

Despite the mid- to high-twenty degree temperatures, fall is upon us, and with the change in seasons comes a little preventative maintenance for your home before winter hits. Among the most important ways you can winterize your home is the annual furnace tune-up.

If you’re like me, your furnace has been rather dormant since June. When the cold weather hits and you are depending on it to work, though, the last thing you want is a blinking service light. Just like your vehicle, moving parts in your furnace need regular adjustment and/or replacement, while anything involved with a combustion system will need to be cleaned out from time to time to keep things humming along. An unserviced furnace is a furnace that’s going to break down, it’s just a matter of when; Murphy’s Law suggests it’ll probably be in the middle of the night, when the temperature dips below -30, and you’ll be paying steep emergency call fees to your trusted repair person.

So how do you go about booking a tune-up? The best place to start is by asking friends and relatives if they have any HVAC professionals with whom they have a good relationship. Word of mouth is the best way to ensure a good experience when it comes to hiring trades. Once you have a company in mind, give them a call and book an appointment. Prices for fall tune-ups are usually between $75 and $150, depending on what’s included.

You’ll need to be present while the work’s being done, mostly to approve any additional expenses that could come up: burners and belts wear out, chimneys become clogged with soot, and it’s better to fix these things before they cause major problems.  The whole thing should take about an hour. Furnace tune-ups usually involve cleaning and adjusting the furnace itself, as well as the hot water tank, which is another appliance that can break down without warning and cause serious headaches.

Furnaces and hot water tanks are big ticket items, so if the recommendation is to replace either of these, take the time to do some research and find the best product for the best price. Technology for both of these appliances has come a long way in the past fifteen years, so you may decide to pay a little extra to improve your home’s efficiency, and save money on utility bills down the road.

Getting your home ready for winter is a necessary inconvenience that can prevent some real hassles down the road, so don’t let it fall to the bottom of your to-do list. I have some vendors that I know and trust, so to chat about it, just Contact me!
The annual Home + Design Show is quickly upon us, running from September 22-25, and I have a promo code for 2-for-1 tickets to pass along. Simply purchase online here, and use the code TODD. The code expires September 20, so don’t wait!

I often get asked about the importance of pricing your property right, so it sells in a relatively short period of time – if a seller’s not in a big rush to move, why not price it a bit high and hope the right buyer comes along eventually?

I like to address this with a little analogy:

The real estate market is like a Chinese food buffet (stay with me here!): there are lots of options from which to choose, and most of them look pretty good.  However, when a chef comes out of the kitchen carrying a steaming, fresh bowl of ginger beef, everyone takes notice; even diners on their way back to their seats may turn around to check out the good stuff. Some diners have been waiting and watching for the fresh ginger beef to come out of the kitchen, refusing to leave without it!  Meanwhile, those sad looking spring rolls that have been under the heat lamp for half an hour will just get less and less attention as time goes by.  No one’s taking them, so there must be something wrong with them.

And so it is with the housing market. The first wave of interest is the biggest and best opportunity to find your buyer. Buyers are waiting for the fresh “meat” to come out of the kitchen.  If a property is priced well the sellers can take advantage of that attention and bring an offer in earlier than later.  The longer a property sits on MLS, the less ‘fresh’ it looks, and the more likely it is that potential buyers will assume something is wrong with it.  It’s just the way buyers think, especially in a market like Calgary’s, where business is often booming.

While the days of homes selling on the same day they’re listed may be behind us (for now), a property that’s been listed for a long time is just going to appear stale.  You’re much better off to list according to comparables in your area, rather than shooting high to see what you can get.

For a free, no obligation evaluation of your home, please contact me today!

216 CRANSTON DR SE

Former show home located across from an elementary school. This two storey boasts over 2250 SqFt of developed space, including a fully finished basement with a family room, bedroom and full bath. Main floor features a large island kitchen with a corner pantry and a good sized eating area. Open living room plan. Large west-facing rear deck. Upper floor features three bedrooms, 2 full baths (one with a soaker tub) plus a bonus room with built-ins and a fire place for your enjoyment. The rear yard has underground sprinklers plus the home is air conditioned for summer comfort. What a great family home!

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

Family Day in Alberta is just around the corner, February 15, and so it might not be a bad idea to start thinking of things to do with the brood over that three day rest. There’s always tonnes of local activities around Calgary that are inexpensive and loaded up on fun. Here are a few suggestions:

Heritage Park’s Family Quest

All weekend, Heritage Park is hosting what they call ‘family friendly motorcycle inspired fun and entertainment’ in their Gasoline Alley.

Eau Claire Market Family Fun Day

Eau Claire Market is hosting all manner of free activities including face painting and temporary tattoos, live music, ice carving, and crafts! Even the hot chocolate is free!

U of C Oval Family Day Skate

On Monday the 15th, from noon till 5:00 families can skate for free at the U of C Olympic Oval. Bring a helmet for each family member and a few bucks for the Tim Horton’s truck that’ll be parked outside.

Other Free Skating

Around the city, a number of rinks are offering free skating on Monday afternoon.

Public Swimming

The city-operated pools are offering free swimming on Monday afternoon – great exercise for the whole family!

Catch a movie

Kung Fu Panda 3 came out recently, and it’s getting stellar ratings from critics, so kids and adults alike should enjoy a couple of hours with Jack Black’s cuddly martial artist. And Saturday morning you can catch Hotel Transylvania 2 for just $2.99 as part of their Family Favourites series.

Those are just a few suggestions of activities to take in on Family Day. If you just feel like staying in, how about some board games, followed by ‘make your own pizza’ for dinner in front of the TV? Whatever you decide, enjoy the company of those you love. I know I will.

And if that time inside starts to make you think about moving to a new house, contact me – I’d love to help.

You can’t really blame people – including many in the media – for getting all Chicken Little about Calgary’s real estate market. Layoffs and downsizing at corporations have led to a significant, but not catastrophic, slowdown in homes changing hands, and some prices have been reduced accordingly. The benchmark price actually went up a little over a percent in 2015, but total sales were down about a quarter. We’re solidly in a buyers’ market, and that’s something Calgarians haven’t seen in a long time.

But things aren’t necessarily so dire, really; our fundamentals are strong, prices aren’t artificially inflated, and desirable communities remain desirable. While there are fewer buyers competing for properties, well kept homes in good neighbourhoods are as motivating as ever.

That said, it’s more important than it’s been in years for you to put your home’s best foot forward, and for you to work with an experienced Realtor to help navigate the rapidly changing waters of today’s real estate market.

A Realtor such as myself participates in frequent professional development, ensuring my skills are ideally tuned to the current market. Realtors know the city inside and out, have been around the block enough times to bring historical context to what’s on offer today, and use well-honed negotiation skills to get the best price for your home. Realtors have access to the most accurate and timely data about market conditions and trusted predictions, giving their clients an edge when it comes time to set or adjust a price. Realtors know what will attract buyers and get them to write an offer rather than move on to the next property on the list. And Realtors can save hours decoding the piles of paperwork that goes along with a real estate transaction. Those who go it alone, without the help of a Realtor, are taking a big risk and are probably leaving money on the table.

As part of the services that my Dad and I offer, we’ve just added a comprehensive ‘Local Info’ section to our website that breaks down vital information about Calgary, Airdrie, Chestermere, and Cochrane for those who may be coming from out of the area. We detail civic governments, neighbourhoods, cultural events, schools, shopping, sports teams and more. Even if you’re not in the market to buy or sell right now, I’d encourage you to check it out – you may learn a few things!

As we near the close-out of 2015, Calgary is settling into mild buyer’s market and will likely stay that way for a good chunk of 2016. However, if you’re looking to sell your mid-range home – especially sub-$450,000 – you’ll likely have plenty of interest. It’s the higher end that’s really taking the hit of job losses and low oil prices in Alberta.

We haven’t seen a buyer’s market in Calgary in quite a while, and so many looking to sell may be a little concerned and uncomfortable about the prospect. If that’s you, allow me to set your mind at ease.

First, Calgary’s real estate market, even in economic slowdowns, tends to remain pretty strong thanks to solid fundamentals. You won’t need to hold a fire sale on your well maintained home just to move it; priced and marketed appropriately by a real estate professional (like me!), you can still get what your property is worth. So, relax.

Second, to get top dollar, your home needs to look like it’s worth it. Professional staging, decluttering, yard maintenance and home repairs are key in a buyer’s market. When there’re plenty of homes to chose from, many shoppers are going to lean toward those that look ready to move into without a lot of work. Little touches make a huge difference, logical or not.

Third, trust your Realtor to manage expectations and give you honest opinions on pricing and strategy. She or he wants to move your property as badly as you want it to sell, and is motivated to secure the best price. Realtors live and breath real estate, and know the truth behind the headlines, so find someone you can trust and let their experience guide you.

Keep these things in mind and you’re set to have a positive experience selling in a buyer’s market.

Want some inspiration? Put the Calgary Home + Garden Show on your calendar for February! Use this link, with the promo code HOLIDAYS and get 2-for-1 tickets!