It takes two

Dual-master homes occupy important niche in Calgary market

Dual-master homes aren’t a new phenomenon in the Calgary market, but they have long been popular among a growing cross-section of homebuyers whose needs cannot be met by a standard three-bedroom layout.

According to Wendy Jabusch, president of the Canadian Home Builders’ Association-Calgary region, Calgary homebuilders have been building dual-master suites for roughly a decade, primarily in smaller home offerings.

“They would typically be in the small single-family homes, townhomes and that kind of thing,” Jabusch said. “Certainly, in the apartment product, we’ve seen dual-master bedrooms for many years.”

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Setting the pace

Slowdown welcomed by new home industry

Local homebuilders and developers say they are heading into 2016 feeling positive after going through a year that brimmed with economic challenges.

“It’s definitely been an interesting year,” said Wendy Jabusch, president of the Canadian Home Builders’ Association – Calgary Region and a vice-president with Brookfield Residential.

In particular, housing demand fell sharply in 2015 as the provincial economy sputtered through an oil patch slowdown that eventually led to pronounced job losses.

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Opportunity knocks in condo sector

In the midst of a correction, experts identify silver-lining investment opportunity

Buy low. Sell high. It’s the quintessential mantra of successful investors.

And for those who have long sought to execute this philosophy in Calgary’s real estate market, a window of opportunity may be opening thanks to weak oil prices – particularly in the apartment-style condominium sector, which has seen inventory levels skyrocket in 2015.

According to CREB®’s recent monthly housing forecast, months of supply in the apartment sector increased to 6.9 per cent in November, causing benchmark prices to slide
0.5 per cent from October to $287,000. Meanwhile, year-over-year prices were off by 4.6 per cent.

By comparison, months of supply in the detached and attached sector sat at 3.4 and 4.8, respectively.

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Mission possible

Affordable housing advocates bullish on possible changes

By the end of this year, at least 200 middle-income Calgarians will have bought what may have seemed financially impossible in the city’s now waning hot economy: their own home.

Another two dozen families will, in 2015, aided by many hours of sweat equity instead of a down payment, have entered home ownership.

Yet these Calgarians, who became homebuyers this year through Attainable Homes Calgary Corporation (AHCC) and Habitat for Humanity, might not be the only ones stepping into a more affordable housing market in the near future.

By December, significant changes are expected to the City of Calgary’s administrative policies to make growth in the overall housing market both more efficient and less costly.

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