The big picture

Inventory increases and sales drop in September, but overall sales for the year remain higher than last year

Strong gains in the first half of 2017 have put Calgary year-to-date sales at seven per cent above last years’ levels and 11 per cent below long-term averages, but challenges remain with easing sales and rising new listings.

Inventories rose across all property types to 6,861 units, while both apartment- and attached-style properties saw the highest inventory on record for the month of September.

(more…)

Read More

Calgary’s housing future

Trends shaping the city’s short- and long-term development

Absent a crystal ball, the future of housing in Calgary is very much up in the air. At the same time, there are some notable trends that offer clues to what’s on the horizon for the curious, the concerned and those who just like to plan ahead.

“I think the findings from the 2016 census highlight changes in the Calgary housing market,” said Rylan Graham, a sessional instructor in the Faculty of Environmental Design at the University of Calgary.

“We saw significant growth in many of the inner-city neighborhoods developed pre-World War II, and at the periphery of the city through new greenfield development. These areas are where most of the population growth occurred from 2011-2016.”

(more…)

Read More

Seeing double

Do your research before selling a second home

Owning an investment property can provide useful income, while having a recreational property can provide a great place to spend time with family and friends.

But if you are thinking it’s time to sell, some careful research is in order.

“There’s a lot to consider when selling your investment property or a vacation home,” said Laura Parsons, the Calgary-area manager for mortgage specialists with BMO Financial Group. “Do your homework.”

(more…)

Read More

Dollars and cents

The costs associated with selling a home

Deciding to sell your home is a big decision, so it’s always good to remind yourself of what that decision entails, including the associated costs you might incur. Many real estate industry groups have resources available to the public on the home-selling process, such as the Real Estate Council of Alberta’s Home Seller’s Guide. However, most resources don’t specify selling costs, in part because they can vary greatly depending on the individual property and circumstances of the sale. To provide a frame of reference, here is a summary of costs associated with selling a typical $500,000 home in Calgary: (more…)

Read More

Read the fine print

Conditions of sale are a fact of life for homebuyers and sellers alike

During any real estate transaction, buyers and sellers need to understand what conditions of sale are all about and how they can impact both parties.

“It’s important to note that conditions of sale are for the buyer’s benefit,” said CREB® president David P. Brown.

“Often a seller will try to influence the conditions by requiring financing in four days instead of 10 or something like that, but a well-educated REALTOR® shouldn’t allow it.”

While there are no standard conditions of sale, two of the most common are “subject to financing approval” and “subject to a satisfactory home inspection.”

(more…)

Read More