Calgary Real Estate Blog

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!

Competitive pricing has been a cornerstone of successfully selling one’s home for as long as there’s been a real estate market. In Calgary, however, pricing is now more important than it has been in years due to moderate sales and an abundance of supply. While our market remains relatively solid and stable, many buyers simply don’t have the same sense of urgency as they may have had a couple years ago, and taking more time to shop around means having a better idea of where comparable properties are listed, price-wise.

The best place to start, now and always, is with a trustworthy Realtor. When I am preparing to list a client’s home, I do a thorough cataloguing of its most attractive features, recent upgrades, popular amenities, and unique characteristics that will make it stand apart. Armed with this detailed description, I do an intensive comparison among recently-sold properties in the same and similar neighbourhoods. Thinking as a buyer, I look at what other properties the ideal buyer of my client’s home might have come across, and see how they stack up. Examining the selling price and condition of these properties gives me a solid range to present to my client.

Next, I deliver a Comparative Market Analysis (CMA) to my client featuring the information I gathered above, along with a recommendation for where I think their property should be priced. This is simply a recommendation, of course; my job, as a real estate professional, is to carry out my client’s wishes to the best of my ability, and if they wants to list at ten percent over what comparables have sold at, that’s what I’ll do. However, I’m bringing more than fifteen years of experience to bear on this relationship, and so I would advise my client of the current market conditions, pricing trends, and the potential ramifications of coming in too high: when a home sits on the market for too long, potential buyers and other Realtors can begin to assume something’s fishy, and pressure to drastically lower the price to make a sale can be significant.

The best strategy is to price wisely right out of the gate. A properly priced home tends to sell faster, and for a higher percentage of asking, than one with a more wishful price tag.

So, what is pricing wisely in today’s Calgary market? There are plenty of properties available throughout many attractive communities in our city, and the length of time the average home sits on the market is going up each month, so if you’re looking to sell sooner rather than later, an aggressive pricing strategy is probably called for. While selling prices haven’t taken a nosedive, the abundance of choice means an attractive price can really make your property stand out among the competition. Review your Comparative Market Analysis with your Realtor of choice (contact me to get me started!), and discuss what your home might go for on the low end. Add a couple of percentage points to build in some wiggle room in negotiations, and you should arrive at a price that keeps your home from sitting on MLS for too long.

Of course, there are no guarantees, and each client’s personal situation is different. Patient sellers who don’t need to sell as quickly as possible may find their patience paying off in a higher selling price. The risky part of looking for top dollar in a buyer’s market, such as Calgary’s, is that the property may take an extended period to sell, or may not even sell at all without concessions. Before deciding on a strategy, have a frank discussion with your Realtor about your goals and your tolerance of risk. Listen to his professional opinion, and then make an informed decision. In the end, the best pricing strategy in this, or any, market, is the one that fits your personal situation.

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!

With Christmas season in full swing, you’re probably dividing your free time between madly shopping and decking your halls. But if you have your home on the market, how can you bring a little festive cheer without turning off potential buyers?

The key is moderation. Christmas decorations can make your home look its best, with their coordinated colours, shiny accents, and cheerful mood. They can also send out a siren call to go overboard, filling up every single flat surface with whatever cute little doodad you can find, either at the store or in your child’s backpack coming home from school. Resist! A little coordination and restraint goes a long way. Next year, when you’re in your new property, you can go full Griswald.

That goes for the outside too. By all means, string some lights, but try to go with a consistent theme: if you’re using a string of multi-coloured lights, go with that over the whole house instead of alternating with solid white or blue strings just because you found them in the garage. In fact, hiring a professional might be well worth the money to give your home the absolute best holiday curb appeal.

Using an artificial tree will also save you a tonne of clean-up time before each viewing. While the natural pine scent is an appealing signifier of Christmas, it comes along with a whole lot of stubborn needles.

Beyond decorations, do whatever you can to make viewing your property convenient for potential buyers. Time is in short supply for everyone in December, so try to be flexible. Maybe consider hiding presents, wrapping, and so on at a relative’s place to free up closet and storage space. Bumping up the heat a little, and having some homemade gingerbread cookies on offer, can also go a long way toward cozying things up.

Finally, if you really want to sell your property in December, make sure your Realtor is dedicated to the same outcome: that means being available to you when needed, not just when it’s convenient. Have a candid conversation with your agent to be sure you’re on the same page.

Want more tips on selling? Check out our Sellers Guide! Looking for a dedicated Realtor? Contact us!

The New Year is off to a great start in the real estate market, with the Calgary Real Estate Board predicting strong growth in both prices and the number of newly-built homes. While that’s a familiar-sounding tune these days, we’re coming off a year that saw more than 12 percent growth in the number of sales made with prices rising by six percent; to see sales increase by what’s predicted to be a little under four percent from last year is a really impressive sign of a healthy, robust market.

With interest rates now predicted to remain low for the foreseeable future (as opposed to the ‘there’re going up next month!’ prognostications we’ve been hearing for the last few years), this is an good time to build your ideal property or find a great resale home to move up into. A couple weeks ago I posted about some things you can do around your home to get it in saleable condition; I recommend having another read of that, and make a game plan if you want to enter the market in the spring. A few touch-ups can really affect your bottom line, which in turn will help you get that new home you want.

Want a personal, no-obligation evaluation of what we could sell your home for today, and what you could do to sell it for more? Contact me!

With relatively low inventories – and not just because of flood damage – the Calgary real estate market is on fire right now. The Calgary Herald reports that condos, bungalows, and two-storey homes have all increased in price by 6 to 7 percent in the second quarter, year-over-year, as listings regularly receive multiple offers. The flood certainly didn’t help with the inventory crunch, but the overall trends shouldn’t be affected long-term by that mess; this isn’t a short term blip, it’s a larger trend.

And it’s not just the common-man homes that are moving: a record number of $4 million-plus homes have been sold so-far in July (and it’s only the 9th). There’s more inventory available in the luxury market, and the higher prices and low availability of mid-range homes, combined with interest rates that look like they’ll stay low for another couple of years, are all factors encouraging people looking to move up.

So, if you’re thinking about selling your present home and move into something larger, be prepared to act fast once you find that perfect place. And have a solid idea of the maximum you’re willing to spend – those susceptible to getting caught up in a bidding war could take a hit in today’s market. Smart buyers approaching transactions logically and not emotionally, however, should still be able to find the right home at the right price.

Yet another good news article about Calgary’s real estate market: we saw more than a 10 percent jump in sales from March to April, as opposed to the national trend going down more than three percent in the same period. And this is just the beginning.

Spring is obviously the time new home developers start churning out properties, and despite what the noisemakers might have you believe, there is plenty of land already approved for community growth. New home builds will probably be plentiful, and marketing aggressive. As housing prices continue their steady climb upwards, we can expect lots more existing properties to go on sale with some people looking to move up, and others downsizing.

If you’re thinking about making a move, it’s a good time to sell – prices going up – but also a good time to buy thanks to the copious inventory. Things usually aren’t so balanced, but so it goes in Calgary. I can help you sort it all out – contact me for more information.