Adjusting expectations

Adversity in condo market to continue in 2018

If you’re a condo owner in Calgary, you may be telling yourself that “what goes down must come up,” but it’s a fine line between thoughtful analysis and wishful thinking.

“The condo-apartment sector is still facing a lot of challenges,” said CREB® chief economist Ann-Marie Lurie.

“While sales improved in 2017, it wasn’t enough to keep pace with new listings, so we still had price declines.”

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Bookworm buyer

Brooke Barrett found the right home for her lifestyle, beside her “own private little library,” in Marda Loop

After renting a small condo in a boutique building in Bankview for six years, Brooke Barrett was ready to take the plunge into homeownership. As a lawyer, she works long hours and wanted to find a maintenance-free home, close to a bevy of walkable amenities, including a library. Staying in the inner-city was also top of mind. She checked out townhomes and condos in Kensington and West Hillhurst, and considered the East Village, but in the end, she decided to make Marda Loop home, purchasing a new condo in the heart of the action on 33rd Avenue.

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Inner-city upsizing

Geoff Snider and Micaela Mailath found the perfect mix of size and location in South Calgary townhome

Geoff Snider and Micaela Mailath are “downtown people” who appreciate living in an area with a cosmopolitan vibe – close to restaurants, pubs and grocery stores. But they also love nature and what Calgary has to offer when it comes to sports. In fact, Snider is a former professional lacrosse player, who currently plays on Team Canada. He is also an entrepreneur with two businesses. Both he and Micaela, who is in sales, work from home, so when their 600-square-foot Eau Claire condo started to feel a little cramped, they began looking for a larger space. They found the perfect mix of size and location in South Calgary, where they purchased a townhome by inner-city homebuilder RNDSQR. (more…)

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Real estate education

It’s the biggest investment we are ever likely to make, yet too often buying and selling a home comes with a bunch of misconceptions about making the most of that investment.

Len T. Wong, broker/owner of RE/MAX Len T. Wong and Associates, chalks these misconceptions up to a lack of information, rather than any fundamental misunderstandings about the buying and selling process. Providing that education to the client, he says, is the role of an experienced REALTOR®.

Here are the top five buying and selling misconceptions Wong has seen throughout his 25-year real estate career: (more…)

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Condo conundrum

A closer look at the numbers behind Calgary’s apartment-style housing market

Statistics Canada recently released an interesting piece of information regarding Calgary’s residential real estate market that went relatively unnoticed.

According to the government agency, the share of households in the Calgary census metropolitan area living in condominiums was 21.8 per cent in 2016. That represented the second highest percentage in the country, behind only Vancouver at 30.6 per cent, and was much higher than the national average of 13.3 per cent.

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