Calgary Real Estate Blog

An expected rise in interest rates to fuel an active spring market

Calgary, March 1, 2010 – Calgary’s housing market continues to build stability and momentum in the second month of the year, according to figures released today by the Calgary Real Estate Board (CREB®).

The number of single family homes sold in February 2010 in the city of Calgary was up 25 per cent from the same time a year ago, while condominium sales saw an increase of 56 per cent from the same time a year ago.

February 2010 saw 1,035 single family homes sold in the city of Calgary. This is an increase of 36 per cent from 762 sales in January 2010. In February 2009, single family home sales totaled 825. The number of condominium sales for the month of February 2010 was 536.

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Kelowna, BC – Lack of inventory will be the greatest challenge facing housing markets across the country this Spring, according to a report released today by RE/MAX.

The RE/MAX Market Trends Report 2010, which examined real estate trends and developments in 16 markets across the country, found that unusually strong activity during one of the traditionally quietest months of the year has led to a sharp decline in active listings in 81 per cent of markets surveyed. The threat of higher interest rates, tighter lending criteria, and in British Columbia and Ontario, the introduction of the new Harmonized Sales Tax (HST) have clearly served to kick-start real estate activity from coast-to-coast, prompting an unprecedented influx of purchasers. As a result,

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crenfeb26-2010_170

Use our website to easily search MLS® listings in Calgary, Cochrane, Airdrie and surrounding area! Our site allows you to save your searches and be automatically notified of new listings that match your criteria!
We've just updated the Marketing section of our website to include a copy of our advertisement from the February 26, 2010 issue of Calgary Real Estate News.

In this issue, our advertisement features the following properties:

 

Willow Park Estates Two Storey
744 Willamette Drive SE $939,000
• Beautiful over 3000 sq. ft. 2 storey home on spectacular street in one of Calgary’s finest neighbourhoods. You will love the serenity of
this location, beautiful trees & privacy as well as the quick access to everything. Five bdrms up w/5 pc master

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We have just listed 744 Willamette Drive SE for sale in the beautiful SE Calgary community Willow Park Estates!

You can view the full details of the listing as well as a virtual tour of the living room, kitchen and family room.

Calgary MLS® Real Estate"Willamette Drive!" One of Calgary's most picturesque streets, treed and beautiful! This is a large, flowing home with total of five bedrooms, five bathrooms. Main floor office, fully developed basement. Master bedroom has jetted tub and 5-piece ensuite, private loft for your relaxation or office/library. Bedrooms are spacious, one other than master having its own ensuite bath. Renovated kitchen with granite countertops, island and lots of cabinetry. Family room with fireplace is adjacent to kitchen. Main also has office/den,

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We have just listed 170 Everglen Rise SW for sale in the SW Calgary community of Evergreen!

You can view the full details of the listing as well as a virtual tour of the kitchen and dining area.

Calgary MLS® Real EstateEfficient and lovely floor plan with gas fireplace in living room. Lots of maple woodwork and upgrades throughout. Fantastic kitchen with island and maple cabinetry, spacious eating nook with large window for natural light. Big brand new deck off kitchen and nook for delightful entertaining and BBQ's. Main floor has 2-piece bath. Upstairs boasts three generous sized bedrooms with full 4-piece ensuite bath off master,another full bathroom and lots of closet space. Basement ready for finishing with some framing done. Super home at this affordable price and in

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On Tuesday, the Department of Finance announced three changes to the standards governing government-backed mortgages, that come into force April 19. Here are a summary of the changes.

QUALIFYING FOR A FIVE-YEAR RATE

The adjustments to the mortgage framework will require mortgage insurers to ensure that new borrowers qualify for a five-year fixed rate mortgage when calculating the gross debt service and total debt service ratios. The measure is intended to protect Canadians by providing them with additional flexibility to support mortgage payments at higher interest rates in the future.

LIMIT THE MAXIMUM REFINANCING

Borrowers seeking financial flexibility can currently refinance their mortgage and increase the amount they are borrowing on the

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OTTAWA – February 8, 2010 – The Canadian Real Estate Association has revised its forecast for home sales via the MLS® Systems of Canadian real estate boards in 2010, and extended the forecast to 2011.

With Canadian economic growth rebounding from the recession, the unusually severe decline in sales activity in early 2009 is not expected to recur in 2010. Annual activity in 2010 is forecast to be well above the previous year’s level as a result.

CREA forecasts national activity will reach 527,300 units in 2010, up 13.3 per cent from 2009. This would represent a new annual record, standing 1.2 per cent above the previous peak in 2007. Low interest rates are expected to boost housing demand in the first half of the year, resulting in strong annual

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Remax Vancouver Winter Olympic Games Begin 2010RE/MAX of Western Canada’s new Canada’s Favourite Agents 30-second commercial will debut February12-28 during the 2010 Vancouver Winter Olympic Games on CTV – the official Olympic broadcaster. Nearly 600 commercials are planned to run across the region making over 40,000,000 viewing impressions. For those who want online Vancouver Winter Olympic highlights, you’ll see RE/MAX spots throughout www.ctv.ca.

 

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With rising interest rates on the horizon buyers will see 2010 as the year to take advantage of low mortgage rates

Calgary, February 1, 2010 – Affordability continues to drive a recovery in Calgary’s housing market according to figures released today by the Calgary Real Estate Board (CREB®).

The number of single family homes sold in January 2010 in the city of Calgary was up 39 per cent from the same time a year ago, while condominiums sales saw an increase of 67 per cent from the same time a year ago.

“Low mortgage rates and earlier price reductions have improved the affordability of home ownership for Calgarians,” says Diane Scott, newly elected president of CREB®. “For the time being average home prices are more in line with average incomes.  A

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One in four toilets in Calgary is silently leaking.  In one month, a small leak can waste up to 2,800 litres of water - that’s 28 full bathtubs. Fixing that leak can save you up to $100 every year.
  “Fixing a leaky toilet is a simple way to save water and money.  If all the leaky toilets in Calgary were fixed, we estimate that Calgarians could save up to 8,400 mega litres of water a year. That’s enough to fill 3,360 Olympic-sized pools,” says Amanda Ginn, Public Program Coordinator, City of Calgary Water Services. “The Leaky Toilet Test is an easy and quick way for all Calgarians to quickly detect leaks and help stop the waste.”
  To test your toilet:
1. Drop Just put a few drops of food colouring into the toilet tank. Wait a few…
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The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.