August 2022 Market Update

August 2022 Market Update

We were asked recently by a reporter from the Calgary Herald what remains the tightest part of the market in Calgary and what part of the market still offers the most value for buyers.

In looking at all the different styles of homes from apartments, row/townhomes, and semi-detached houses as well as detached homes, the one type of property that is moving the fastest is row/townhomes, which is only 1.3 months of inventory when looking at the activity levels over the last 30 days. The other three styles of homes in Calgary are closer to and have around two months of inventory.

We see this because there is still upward pressure on pricing for detached homes. Many buyers, as they have to adjust what they are searching for, will…

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5 Hot Neighbourhoods in Calgary You Want To Know About!

5 Hot Neighbourhoods in Calgary You Want To Know About!

Are you thinking about moving up to or within Calgary? Well, here’s a treat for you!

Here is a list of five fantastic communities with different types of homes and outstanding amenities for your family to enjoy all year round.

Altadore

Altadore features several attached and detached type properties. Walking around in this community is a breeze because its location in the south downtown provides access to Sandy Beach Park, the river and the pathway system.

As of summer 2022, the median price in Altadore is about $917,000. 38% of the properties here are detached type, including some incredible multi-million dollar houses. Additionally, 30% of the community comprises infill homes or…

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July 2022 Market Update

July 2022 Market Update

As Calgary heats up and as we enter the middle of summer, the market has in some ways slowed down but in other ways is continuing on its path.

With inventory still sitting around 5,300 units on the market, we still see many parts of Calgary still flirting with a seller's market. While detached and semi-detached properties have seen a decrease in sales compared to last year, which isn't a big surprise given the hot spring market we just had, condos and townhouses have increased activity compared to 2021.

Moving forward into the fall, we expect prices not to drop dramatically, as you hear in the newspapers when talking about the Canadian real estate market. We continue to see buyers from out of town having great interest in…

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What can You Afford in Calgary

What can You Afford in Calgary

As a team of trusted realtors, we always receive emails from families wanting to make a move within or to Calgary from other cities.

Clients usually give us information about their current seasons in life and what they look forward to having in their next home.

Helping a Family Find a Home in Calgary

In this blog, we want to show you an example of how we help and walk our clients through finding the next best house for them.

For this example, we will use an email we received from a family living out of town and wanting to move to Calgary in the next coming months. They have an annual household income of $160,000 to $175,000. They can afford up to a $65,000 down payment and have no outstanding debt.

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June 2022 Market Update

June 2022 Market Update

As we enter into the summer months, the market in Calgary is seeing a slight slow down and rest, which we expected. With the sheer price increase since the start of 2022, the market needed to pause, or we would be in real trouble.

When you look at the stats for this month, they are all over the map. Big price increases compared to last year together with some drops in the number of sales. You have to remember that this time last year, we were seeing a hot market, and in 2022, we saw that hot market earlier this year. So comparing year over year isn't always the best way to see what's actually happening.

BUYERS

If you are planning on buying it is more important now than ever to have a pre-approval and rate hold as the…

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Are Rising Interest Rates Causing Anxiety

Are Rising Interest Rates Causing Anxiety 

Over the last couple of years, many buyers have been raving about the low interest rates. If you keep up with the latest news, you might not be happy seeing that interest rates are returning to how they used to be and even more.

When it comes to renewing your mortgage in the next three to five years, you might be stressed by how different rates can be. Do not drown in anxiety thinking about what could happen. Instead, read the seven methods below that you can do to manage your mortgage adjustments better.

Increasing Interest Rates

But first, let's look at the problem. Here is an example mortgage computation for a purchase price of $600,000. Let’s say you put a 20% down payment of $120,000. Your…

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Buyer Remorse High as Real Estate Market Slows Down

Buyer Remorse High as Real Estate Market Slows Down

Over the recent weeks, multiple media outlets published articles stating that many real estate buyers have remorse across Canada.

Mainstream media love to sell attention-grabbing stories. One of the most effective ways to do so is by flashing fear in the headlines.

Buyers Remorse

The headline, "Buyer's remorse high as real estate market slowdown materializes," recently appeared on The Globe and Mail, CTV and even Bloomberg. It talks about an interview with a Toronto-based real estate lawyer, Mark Morris.

Mark shared that he has seen nine cases in a week where buyers want to back out of deals. And one Monday alone, he was approached by three sellers keen to use legal channels to keep…

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May 2022 Market Update

May 2022 Market Update

With the media continuing to give out negative views on rising interest rates and a slowing real estate market, should you be concerned in Calgary?

First, the increasing interest rates are not a surprise, and if you are in or get into a variable mortgage, there are still some very affordable options for you. Over the last two years, it's incredible how easy it was to become comfortable with nearly 0﹪ and when they come back up after the past two years, we are shocked?

As for the Calgary real estate market slowing like the rest of 'Canada' (aka Toronto and Vancouver), from what the media outlets are saying, it just isn't the same.

Our market had a significant influx of out-of-province buyers who emotionally purchased homes…

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Will Canadian Interest Rate Increases Crash Calgary's Market?

Will Canadian Interest Rate Increases Crash Calgary's Market?

Is it all over?

Are the rising interest rates in Canada the biggest threat to Calgary's real estate market over the next couple of years?

Lately, our team has been having several conversations about this topic with clients, reporters, and local magazines, and now, we want to put the record straight.

More than what the news headlines say, you need to look at two important factors to understand what is happening in the market. First, you need to analyze how interest rates change historically, then study the current supply in the market.

Interest Rates

Lindsay Labrecque, a mortgage broker shared historical information with our team to talk about the changes in…

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Should You Sell Your Home in the Spring or in the Fall?

Should You Sell Your Home in the Spring or in the Fall?

Is it better to sell your home in the spring or wait until the fall?

The best answer is always based on your goals and life restraints. Choosing the timing of selling your home can be tricky. You need to consider so many variables like your family’s preferences, your children’s school, work arrangements, and many other things.

And while you are thinking of strategies to sell your house, you need to give the same energy to finding your next home.

Here are three different charts to help you come up with an informed decision for your next move.

Sales vs New Listings

This chart shows the number of sales versus new listings in Calgary from February 2013 all the way up to…

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