Making a comeback

Calgary’s commercial real estate market could be poised for a rebound in 2018

All eyes will be on Calgary’s commercial real estate market this year, with hopes that the downtown office sector, which continued to struggle in 2017, will rebound in 2018.

The office market has grabbed everyone’s attention over the past three years, as vacancy rates have soared to historically high levels following the collapse of oil prices and the subsequent waves of layoffs that ravaged employment ranks in downtown Calgary. Thousands of people were cut loose, and a vast amount of office space suddenly became vacant in the downtown core.

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Law of the land

Professional legal help can benefit any real estate transaction

Buying or selling a home is a process that benefits greatly from professional help, and that especially true on the legal side of things.

Calgary Legal Guidance (clg.ab.ca) has information on selling and buying real estate in its Dial-A-Law series, including the role a lawyer plays.

Jeffrey Kahane of Kahane Law Office in Calgary says most people don’t get a lawyer involved until the conditions of a sales agreement are waived, “because then you’ve got a firm deal.”

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Taking the plunge

Owning a home with an indoor or outdoor pool is a rarity in Calgary. If you dream of owning a backyard lagoon, here are some considerations before you dive in.

Imagine having your own private swimming pool – a place to entertain, exercise or just kick back and listen to the soothing sounds of moving water.

Lynn Lucyshyn, owner of Oasis Pools & Spas, says pools are a luxury few Calgarians enjoy. Her company installs as many as 12 pools in a good year, but as few as three in slower years.

According to CREB®, only 167 properties listing pools as a feature were sold in 2016. In that same year, the average sale price of a detached home with an indoor or outdoor pool was $974,388.

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