Warren Shouldice

Cell: 403-461-8103 |

If you’re like most homeowners, you’ve probably found these past few weeks challenging to say the least. Although the experts say we are making progress, we’re still trying to find our footing on an uncertain road. We’re figuring out how to live and work in new ways.


In fact, when it comes to real estate, you may be wondering, “How does the selling/buying process work in times like these?” or, if you want to sell, “Is now a good time or should I wait?”


If you’re looking for answers, please reach out to me. Yes, there have been changes in how the buying/selling process works, and I’m happy to fill you in. In fact, if you have any questions or need any help that’s real estate related, feel free to contact me!


Market Update:


Housing market activity in May remained slow, but sales exceeded the lows from April, which saw less than 600 sales in Calgary.


May sales totalled 1,080 units, a 44 per cent decline from last year’s figures. “The initial shock of COVID-19 and social distancing measure is starting to ease. This is bringing some buyers and sellers back to the market. However, this market continues to remain far from normal and prices are trending down,” said CREB® chief economist Ann-Marie Lurie. “Activity has also shifted toward more affordable product, which is likely causing differing trends depending on product type and price range.”


Sales are down in all price ranges, but a greater share of sales are priced below $500,000. In the higher price ranges the drop in inventory has not been enough compared to the drop in sales. Additionally, the months of supply is far higher than the already elevated levels seen during the past five years. The shift in sales toward lower-priced product is contributing to steep average price declines in the Calgary market. Benchmark pricing, which reflects comparisons of the same type of home, has eased by over two per cent compared to last year and 0.4 per cent compared to last month. This does not come as a surprise as the market continues to struggle with more supply than demand.


COVID-19 and social distancing measures have contributed to rising unemployment rates and job losses throughout many economic sectors. This is weighing on consumer confidence and the housing market. Some of this job loss is temporary, but the energy sector remains the largest concern. Significant job loss throughout the typically higher-paid professional and technical services sector points to a longer adjustment period in the housing market, particularly in the higher end of the market.


Quick Stats:


 

April 2019

April 2020

Y/Y% change

Detached

     

Total sales

1,180

670

-43.22%

Inventory

3,931

2,922

-25.67%

Months of supply*

3.33

4.36

30.91%

Average DOM

50

55

6.84%

Benchmark price**

$484,300

$474,300

-2.06%

       

Attached

     

Total sales

422

273

-35.31%

Inventory

1,902

1,503

-20.98%

Months of supply*

4.51

5.51

22.15%

Average DOM

61

71

15.74%

Benchmark price**

$318,600

$306,500

-3.80%

       

Apartment

     

Total sales

313

137

-56.23%

Inventory

1,654

1,388

-16.08%

Months of supply*

5.28

10.13

91.72%

Average DOM

70

67

-4.77%

Benchmark price**

$248,400

$242,600

-2.33%


*Months of supply: The ratio between inventory and sales which represents the current pace of sales and how long it would take to clear existing inventory.

**Benchmark price: The monthly price of the typical home based on its attributes, providing the best measure of price trends.

 

Predicting Your Future Housing Needs

What will your housing needs be in three to five years? If you can figure that out, you can watch the market, target areas and neighbourhoods you might like to live in, and reap the benefits of planning ahead.


To begin the process, start by asking yourself the following questions:

  • What will my family look like in three to five years? Will there be a new addition (or two) to your family? Will you have kids that are grown up and about to move out? What is the possibility that an elderly relative (Mom, Dad or grandparent) will be living with you?
  • What will change regarding work and school? Will a teenager be off to college? Will you or your spouse be retired? Will someone in your household be starting a home business?
  • How will your lifestyle be different? Will you take up a hobby that you’d like to be able to reach easily (such as golf)? Do you see yourself wanting to live closer to shopping, theatre, walks in the woods, etc.? Will you eventually be traveling more often and, therefore, not be at home as much?
  • How is the neighbourhood changing? Where is it heading relative to your future needs in terms of residents, noise, sense of community, local developments, etc.? Do you see yourself wanting to live in a quieter community, or a more urban centre?
  • Will the type of home you need change? In three to five years, can you see yourself wanting a larger home? Smaller home? More bedrooms? Larger kitchen?
  • What are your dreams? Do you dream of living in a particular area or neighbourhood? Would you love to have a big backyard with a garden someday? Do you sometimes think, “It would be great to have a wooded park with walking trails just a few minutes away.”

By looking three to five years into the future, you will be able to predict your housing needs and make plans - today - to ensure you get what you want in the future.


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During this trying time, it’s not surprising that so many homeowners are anxious and exhausted. Perhaps you’ve been feeling the same way. If so, keep in mind that the COVID-19 outbreak will eventually wind down and, hopefully, things will be back to normal soon.

We’re all in this together - and we’ll get through it!



Market Update:


After the first full month with social distancing measures in place, the housing market is adjusting to the effects of COVID-19. April sales hit 573 units, a decline of 63 per cent over last year. Prices for the average home are on the decline as well, reflected by the benchmark price, which fell by nearly two per cent compared to last year. New listings this month totalled 1,425 units, a decline of 54 per cent compared to last year. Inventories also declined, but with 5,565 units available, they remained high enough to push the months of supply above nine months. The economic impact of the situation is significant and early indications point toward more job losses and higher unemployment rates.

Challenges in the housing market are expected to persist throughout this year.


Detached:

Detached sales eased by 63 per cent this month compared to last year, with the largest decline in the West district.

• Slower demand was also met with easing supply, as new listings declined by 57 per cent. Overall, inventories eased by 25 per cent compared to last year. Despite the decline in inventory, the months of supply rose to more than eight months.

• The detached benchmark price eased by one per cent over last year, totalling $479,100. Prices managed to remain flat in both the South and South East districts. The highest price decline was in the City Centre, with a drop of more than three per cent.


Attached:

Semi-detached and row properties recorded a significant drop in sales and new listings, causing inventories to decline by nearly 20 per cent. However, with a combined inventory of 1,441 units compared to just 138 sales, the months of supply rose to over 10 months.

• Semi-detached prices eased across all districts for a citywide year-over-year decline of nearly three per cent. The City Centre recorded the largest year-over-year decline at four per cent.

• Row prices declined in all areas except the East district. Citywide row prices declined by more than two per cent for a total of $278,300.


Apartment:

Apartment sales slowed to 95 units. This is a 62 per cent decline over last year. New listings also slowed, but it was not enough to support a larger decline in inventory levels, which only eased by 13 per cent compared to last year. With 1,349 units in inventory, the months of supply rose to 14 months.

• Condominium prices were falling before recent developments in the market and the pace of decline remained relatively unchanged at more than two per cent compared to last year. Since the first energy crisis in 2014, the citywide apartment benchmark price has declined by nearly 19 per cent.

• Year-over-year prices have eased across almost all districts, but the South East district saw the largest year-over-year decline this month at nearly six per cent.



Quick Stats:

 

April 2019

April 2020

Y/Y% change

Detached

     

Total sales

927

340

-63.32%

Inventory

3,701

2,775

-25.02%

Months of supply*

3.99

8.16

104.43%

Average DOM

49

50

1.66%

Benchmark price**

$484,200

$479,100

-1.05%

       

Attached

     

Total sales

367

138

-62.40%

Inventory

1,829

1,441

-21.21%

Months of supply*

4.98

10.44

109.53%

Average DOM

62

63

2.28%

Benchmark price**

$315,400

$307,400

-2.54%

       

Apartment

     

Total sales

250

95

-62.00%

Inventory

1,549

1,349

-12.91%

Months of supply*

6.20

14.20

129.18%

Average DOM

68

64

-5.68%

Benchmark price**

$249,800

$244,400

-2.16%


*Months of supply: The ratio between inventory and sales which represents the current pace of sales and how long it would take to clear existing inventory.


**Benchmark price: The monthly price of the typical home based on its attributes, providing the best measure of price trends.

 

Estimating Your Selling Costs

When the time comes to sell your house, you’ll want to determine roughly how much you can expect to net after the sale. To figure that out, you’ll not only need to know how much your house will likely sell for, but also the selling costs you are likely to incur in the process.


The costs of selling vary depending on a number of factors. Here’s a general rundown of what to consider:

  • Repairs. You will want your house to look its best to buyers. That may require you to get any needed repairs done before listing. You don’t want a buyer to see a dent in the wall or a dripping faucet.
  • Renovations. It might make sense to get a few improvements done to make the house more attractive. For example, you may want to replace old and worn kitchen countertops.
  • Legal fees. Selling a house requires a lot of legal work. You’ll need a good real estate lawyer to take care of that for you.
  • Commissions. This is usually calculated as a percentage of the sale price.
  • Moving costs. Once you sell, you’ll obviously need to move! So, factoring in this expense is a smart idea.

Although this may seem like a long list, selling costs are fairly easy to estimate. Once you have that number, it’s easy to calculate how much money you’ll have available to put towards your next home.

 
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The COVID-19 outbreak has created a new reality for all of us, at least temporarily. Chances are you’re dealing with many new challenges, both personally and professionally. We all are.


Now, it’s up to each of us to do our part so we can get through this as quickly as possible. Remember, we’re all in this together. Stay positive and know that things will get better. In the meantime, you might have immediate concerns about the real estate market. For example, you might be wondering if you should put off moving. Or, you might need to move but are worried about all this uncertainty.


If so, give me a call. As a real estate professional, I have the latest market information, insights and tools - and can give you sound advice. Good information and advice are often the antidote to stress, especially during challenging times. So, please, don’t hesitate to reach out to me.


Take care and stay well.


Market Update:


After a strong start to 2020, economic conditions have dramatically changed, as COVID-19 is impacting all aspects of society. The economic impact is starting to be felt across many industries. This includes the housing market. March sales activity started the month strong, but quickly changed, as concerns regarding the spread of COVID-19 brought about social distancing measures. By the end of the month, sales activity had fallen 11 per cent compared to last year. This is 37 per cent lower than longterm averages. The drop in sales pushed March levels to the lowest recorded since 1995. There was also a large reduction in new listings, almost entirely during the second half of the month. The reduction in new listings should help prevent significant price declines in the market. However, price declines will likely be higher than originally expected due to the combined impact of the pandemic and energy sector crisis.


Quick Stats:


 

March 2019

March 2020

Y/Y% change

Detached

     

Total sales

816

691

-15.32%

Inventory

3,397

2,829

-16.72%

Months of supply*

4.16

4.09

-1.66%

Average DOM

57

47

-16.42%

Benchmark price**

$481,500

$480,800

-0.15%

       

Attached

     

Total sales

322

269

-16.46%

Inventory

1,718

1,525

-11.23%

Months of supply*

5.34

5.67

6.26%

Average DOM

66

60

-8.82%

Benchmark price**

$314,000

$310,500

-1.11%

       

Apartment

     

Total sales

189

217

14.81%

Inventory

1,496

1,428

-4.55%

Months of supply*

7.92

6.58

-16.86%

Average DOM

74

59

-20.10%

Benchmark price**

$249,600

$243,700

-2.36%


*Months of supply: The ratio between inventory and sales which represents the current pace of sales and how long it would take to clear existing inventory.


**Benchmark price: The monthly price of the typical home based on its attributes, providing the best measure of price trends.


Help Buyers Understand the Area


There’s a famous saying in the real estate business: “Location, location, location”. It simply means that where your home is located - your neighbourhood - is just as important to potential buyers as the features of the property itself.


Sellers often make the mistake of creating a long list of home features while ignoring neighbourhood features. They tout the spacious kitchen, and the newly renovated bathrooms, but say little about the area.

So, when you’re ready to sell your home, sit down and create two lists: home features and neighbourhood features. Buyers want to know both.

On the neighbourhood features list, include:

  • Locations of schools and daycare centres.
  • Major retailers and shopping centres.
  • Proximity to major commuting routes.
  • Theatres, night clubs and other entertainment.
  • Rinks, gyms and other sporting facilities.
  • Green space, walking trails, and ponds.

When buyers have their eyes on two properties which are comparable in features, the neighbourhood is often the deciding factor.




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I have listed a new property at 23 8020 SILVER SPRINGS RD NW in Calgary.
This beautiful 3 bedroom 3.5 bath townhouse offers over 2000 sq.ft. of developed living space. It's located in a private gated complex overlooking the ravine and pathway system which leads all the way down to the river and Bowmont park! The location is one of the best in the complex with mature trees and a private, quiet setting. The main floor has an open layout with floor to ceiling windows that take advantage of the amazing views. The kitchen has lots of storage space, a pantry and stainless steel appliances. Off the kitchen is the dining room and a good sized living room with a gas fireplace. There is a nice sized deck off the main level to further enjoy the views and prime location. Upstairs are two bedrooms and two bathrooms. The master is quite large with its own walk-in closet and seating area as well as a 4-piece ensuite. There is a covered deck off the master offering more great views to the west. The fully finished walk-out basement has a third bedroom, family room, laundry and 3-piece bath.
Read full post

Housing market conditions continue to follow similar trends to last year, with gains in sales. At the same time, there have been further reductions in new listings, inventory and more declines in prices. January sales activity was 863 units, nearly eight per cent higher than last year’s levels. While sales remained well below January activity recorded before 2014, they remain consistent with activity recorded over the past five years. “A persistent slowdown in the energy sector has resulted in a reset in many aspects of our economy. This includes the housing market,” said CREB® chief economist Ann-Marie Lurie. “We continue to see the slow adjustment to more balanced conditions, but it will take time before that starts to translate into price stability.” Citywide unadjusted benchmark prices were $417,100 in January. This is slightly lower than the previous month and nearly one per cent lower than last year’s levels. Benchmark prices eased, but there were some modest improvements in both the average and median prices. This is likely a reflection of some changes in the distribution of sales.


Detached

• New listings declined by nearly 11 per cent due to pullbacks in all areas except the City Centre and the North districts. Combined with adjustments in sales, this caused inventories to ease by 15 per cent citywide.

• Reductions in supply and gains in sales supported reductions in the months of supply from nearly six months last year to just under five months this January.

• Detached benchmark prices eased by nearly one per cent compared to last year. However, the only two areas to record notable year-over-year declines were the City Centre and West, with price declines exceeding three per cent.


Apartment

• Improving sales were met with gains in new listings, causing inventories to increase by 12 per cent compared to last year.

• The gain in inventories prevented any significant adjustment in the months of supply, which remained elevated at nine months.

• The persistent oversupply continued to weigh on benchmark prices, which eased compared to last month and declined by two per cent compared to last year.


Attached

• Despite slower sales in the South and South east district, city-wide attached sales improved by four per cent. At the same time new listings eased by nearly 18 per cent, causing inventories to decline by ten per cent.

• Improving sales and a drop in inventory helped the months of supply to dip below seven months, a significant improvement compared to last year’s level of nearly eight months.

• While this segment is trending toward more balanced conditions, persistent oversupply continues to weigh on prices, which trended down over the previous month and eased by over one per cent compared to last year’s levels.


Quick Stats

 

Jan. 2019

Jan. 2020

Y/Y% change

Detached

     

Total sales

486

517

6.38%

Inventory

2,844

2,411

-15.23%

Months of supply*

5.85

4.66

-20.31%

Average DOM

67

61

-8.18%

Benchmark price**

$482,000

$479,600

-0.50%

       

Attached

     

Total sales

191

199

4.19%

Inventory

1,474

1,320

-10.45%

Months of supply*

7.72

6.63

-14.05%

Average DOM

77

76

-1.98%

Benchmark price**

$313,500

$309,600

-1.24%

       

Apartment

     

Total sales

124

147

18.55%

Inventory

1,178

1,323

12.31%

Months of supply*

9.50

9.00

-5.26%

Average DOM

81

77

-4.37%

Benchmark price**

$251,100

$245,900

-2.07%

 

*Months of supply: The ratio between inventory and sales which represents the current pace of sales and how long it would take to clear existing inventory.

 

**Benchmark price: The monthly price of the typical home based on its attributes, providing the best measure of price trends.


Are You Ready to Buy Up?

No matter how much you love your current home, you may still be dreaming of the day you can buy up into a better home in a better neighbourhood. Is that day today or a few years down the road? Here’s a quick way to make that assessment.
 

First, make a list of all the practical reasons why it might be time to move up. Those reasons might include features such as: more bedrooms; proximity to work and school; a larger backyard with trees; nearby parks and walking paths; and, better access to things you enjoy.


Next, make a list of the emotional reasons for making such a move. Those reasons might include memorable get-togethers with friends on a more spacious deck; an easier and less stressful commute to work; more family time with the kids; and, enjoyable Saturday golf at a nearby course.


Finally, take a financial snapshot to determine if you can afford to move up. You’ll need to get a good idea of what your current property will sell for in today’s market, the average price of homes in your desired neighbourhood, and how much mortgage you can afford.


Once you have all of that down on paper, you’ll have a clear picture of your readiness. If the practical and emotional reasons for buying up are compelling, and you can afford to make the move, then, you have your answer.

By the way, if you need help in making this determination - especially figuring out what your home will likely sell for, call today.

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December sales improved to levels more consistent with activity recorded over the past five years. This follows weak sales activity last year. A stronger second half in 2019 was enough to push annual sales up by one per cent. “Price declines, lower mortgage rates and some modest improvements in full-time employment helped support some demand growth in the city. Reductions in supply are also contributing to the slow adjustment to more stable conditions in the housing market,” said CREB® chief economist Ann-Marie Lurie. “As oversupply in the market continues to ease, we should start to see more stabilization in prices. However, conditions continue to favour the buyer and this is weighing on prices.” December unadjusted benchmark prices were $418,500. This is just slightly lower than last month and one per cent below last year’s levels. Overall prices in 2019 declined by three per cent over last year’s levels. The total adjustment in prices is a 10 per cent decline since the 2014 slowdown in the energy sector. While there are signs of stabilization, conditions vary significantly by location, price range and product type. Improvements in the resale market have been mostly driven by lower priced product or areas where price declines were enough to bring more purchasers back into the market.


Quick Stats:


 

Dec. 2018

Dec. 2019

Y/Y% change

Detached

     

Total sales

496

504

1.61%

Inventory

2,598

2,210

-14.93%

Months of supply*

5.24

4.38

-16.28%

Average DOM

66

64

-2.86%

Benchmark price**

$486,200

$480,100

-1.25%

       

Attached

     

Total sales

193

220

13.99%

Inventory

1,288

1,190

-7.61%

Months of supply*

6.67

5.41

-18.95%

Average DOM

74

66

-11.62%

Benchmark price**

$317,800

$311,300

-2.05%

       

Apartment

     

Total sales

105

134

27.62%

Inventory

1,030

1,131

9.81%

Months of supply*

9.81

8.44

-13.96%

Average DOM

74

72

-2.15%

Benchmark price**

$251,200

$248,800

-0.96%

 

*Months of supply: The ratio between inventory and sales which represents the current pace of sales and how long it would take to clear existing inventory.

 

**Benchmark price: The monthly price of the typical home based on its attributes, providing the best measure of price trends.



Three Lists to Make When Selling Your Home


When you put your property up for sale, you want to make sure that potential buyers get all the information they need on the features of your home and its surrounding area. If, for example, buyers don’t realize there is a great school just a couple of blocks away, they might cross your property off their shortlist.


An effective way to make sure something like that doesn’t happen is to create three lists.


#1: The “I’ll miss it” list. Chances are, there are things about your home that you’re really going to miss when you move. One of those may be the spacious living room that’s ideal for entertaining or the nearby park with scenic trails that are perfect for walking and biking. Whatever you’ll miss, put it on the list! Chances are, those are features that will also interest buyers.


#2: The “Just the facts” list. What are the facts about your property that a buyer needs to know in order to consider purchasing it? This may be a very long list including such items as total square footage, number of bedrooms, number of bathrooms, property taxes, size of yard, and more.


#3: The “repairs and improvements” list. Buyers are interested in the state of repair of your home, and in any improvements you have made to it. On this list include all repairs you have done during the past three years and, if possible, attach receipts. It’s especially important to include anything that has been replaced, such as the furnace or roof shingles.


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The best part of the season is remembering those who make the holidays meaningful. We wish you all the love and happiness this season can bring, and may it follow you throughout the coming new year.


Happy Holidays & Best Wishes!

 

Market Update


Year-to-date residential sales in the city remain just above last year’s levels mainly due to improvements in the attached sector so far this year. However, November sales activity eased over last year’s levels, mostly due to pullbacks in the apartment sector. Meanwhile, new listings eased enough relative to sales to cause inventories to ease and the amount of oversupply to come down slightly compared to last year’s levels. As of November, the citywide unadjusted benchmark price was $419,100. This is just below last month’s levels and two per cent lower than last year’s levels. Market conditions continue to vary depending on price, location and product type. For example, prices have ranged from a year-to-date decline of nearly eight per cent for row product in the East district to a two per cent increase for semidetached product in the North district. Larger price declines are often caused by high supply in the new-home and resale markets relative to demand.

 


Quick Stats


 

Nov. 2018

Nov. 2019

Y/Y% change

Detached

     

Total sales

680

710

4.41%

Inventory

3,506

2,928

-16.49%

Months of supply*

5.16

4.12

-20.01%

Average DOM

60

61

2.44%

Benchmark price**

$491,400

$481,500

-2.01%

       

Attached

     

Total sales

253

262

3.56%

Inventory

1,703

1,524

-10.51%

Months of supply*

6.73

5.82

-13.58%

Average DOM

70

69

-0.81%

Benchmark price**

$322,000

$311,200

-3.35%

       

Apartment

     

Total sales

239

188

-21.34%

Inventory

1,325

1,406

6.11%

Months of supply*

5.54

7.48

34.90%

Average DOM

65

74

13.37%

Benchmark price**

$252,400

$247,900

-1.78%

 

*Months of supply: The ratio between inventory and sales which represents the current pace of sales and how long it would take to clear existing inventory.

**Benchmark price: The monthly price of the typical home based on its attributes, providing the best measure of price trends.


Selling Your Home Doesn't Need to be Overwhelming


When people think about selling their home, many focus on all the things they will have to do: paint the kitchen; clean closets; prepare for viewings; find another home; arrange financing; start packing; etc. It can all seem very overwhelming, very quickly.


In fact, if you focus on the long to-do list, you may be dissuaded from ever making a move! It doesn’t have to be that way.


There are many ways to make selling your home and buying another one relatively simple and easy. Sure, there will be some work to do. You may need to prepare your property so that it looks appealing to potential buyers - cleaning, decluttering, doing some repairs, etc. Of course, you will also need to view some properties for sale in order to find your next dream home. But those activities may not be as time-consuming or difficult as you had imagined. In fact, you and your family might actually enjoy the experience - and see it as an adventure.

Read full post

I have listed a new property at 23 8020 SILVER SPRINGS RD NW in Calgary.
This beautiful 3 bedroom 3.5 bath townhouse offers over 2000 sq.ft. of developed living space. It's located in a private gated complex overlooking the ravine and pathway system which leads all the way down to the river and Bowmont park! The location is one of the best in the complex with mature trees and a private, quiet setting. The main floor has an open layout with floor to ceiling windows that take advantage of the amazing views. The kitchen has lots of storage space, a pantry and newer stainless steel appliances. Off the kitchen is the dining room and a good sized living room with a gas fireplace. There is a nice sized deck off the main level to further enjoy the views and prime location. Upstairs are two bedrooms and two bathrooms. The master is quite large with its own walk-in closet and seating area as well as a 4-piece ensuite. There is a covered deck off the master offering more great views to the west. The fully finished walk-out basement has a third bedroom, family room, laundry and 3-piece bath.
Read full post

For the fourth consecutive month, inventories in the market declined compared to last year. This is due to the combination of improving sales and a decline in new listings. The market continues to favour the buyer, but a continuation in supply reduction compared to sales is needed to support more balanced conditions. Year-to-date sales activity remains just below last year’s levels and well below longer-term averages. However, the reduction in inventory has caused the months of supply in July to ease to 4.5 months, a significant improvement from the 5.5 months recorded last year. With less oversupply in the market, prices are showing some signs of stability on a monthly basis. This is causing the rate of price declines to ease on a year-over-year basis. Overall, year-to-date benchmark prices remain over four per cent below last year’s levels.


Quick Stats:

 

July 2018

July 2019

Y/Y% change

Detached

     

Total sales

968

1,003

3.62%

Inventory

4,592

3,806

-17.12%

Months of supply*

4.74

3.79

-20.01%

Average DOM

49

50

2.63%

Benchmark price**

$504,600

$488,400

-3.21%

       

Attached

     

Total sales

325

352

8.31%

Inventory

2,100

1,709

-18.62%

Months of supply*

6.46

4.86

-24.86%

Average DOM

54

67

24.06%

Benchmark price**

$330,700

$318,300

-3.75%

       

Apartment

     

Total sales

254

291

14.57%

Inventory

1,781

1,664

-6.57%

Months of supply*

7.01

5.72

-18.45%

Average DOM

62

79

28.05%

Benchmark price**

$258,200

$249,900

-3.21%


*Months of supply: The ratio between inventory and sales which represents the current pace of sales and how long it would take to clear existing inventory.

**Benchmark price: The monthly price of the typical home based on its attributes, providing the best measure of price trends.


How To Minimize Water Damage

It’s amazing how much damage water can cause. Just two gallons of water from a burst pipe or overflowing toilet can wreak havoc throughout your home and necessitate thousands of dollars in repairs!


What should you do at the first sign of water leakage?


First, stop the source. Turn off the nearest water valve. If you can’t find it, turn off the main water valve to your home. Next, do everything you can to soak up as much water as possible. If necessary, lift carpeting. Pay particular attention to water settling next to walls or inside ductwork. Get these areas dry as quickly as possible. Contain the water. This is important. Do your best to prevent water from infiltrating other rooms to prevent further damage. Once the area is as dry as possible, run fans in the room along with a good dehumidifier - for at least a full day - to draw in the remaining moisture.


If, despite your best efforts, you suspect that moisture remains inside the walls, floors or ceilings, call in the professionals. There are many companies that specialize in emergency water damage control. The key is to prevent the possibility that remaining moisture will provide an environment for mould to grow. Also, consider contacting your insurance company. They’re as motivated as you are to reduce the damage.



Gentle Ways to Deal with Insects in the Home

A growing number of homeowners are uncomfortable using traditional pesticides for a variety of reasons, including health and environmental concerns. If you’re among them, here are some natural ways to deal with insects in your home:


  • Use a mixture of unsweetened lemon juice and water to deter spiders. Spray the solution near doorways and window sills where these arachnoids can enter.
  • Combine an equal mixture of vinegar and water to create an effective deterrent for a variety of crawling insects, particularly ants. Spray the solution on floors and countertops that are close to these creatures’ food sources.
  • Believe it or not, invest in a fake wasp nest (which you can purchase at your local home improvement store) to deter real wasps from building a nest on your property.
  • Experts recommend that you test any surface spray you plan to use to make sure it doesn’t stain or otherwise harm the surface.
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Summer is finally here and that’s great news for those of us who enjoy spending time in the great outdoors! Whether you prefer sports or leisure activities - or ambitious do-it-yourself projects - here’s hoping the days unfold just the way you wish.


Some of the best summer days are spent getting together with family and friends for fun, food, refreshments and relaxing conversation. If your discussions turn to real estate, I sincerely hope you will refer me to your friends and family for general inquiries or any specific questions they may have. I appreciate it when you let others know that I’m available to assist them as I would assist you.


Have a wonderful summer!

 

Market Update:


New listings coming onto the market continued to decline in June, which is helping to reduce oversupply. Year-over-year, new listings saw a decrease of nearly 19 per cent. Sales activity slowed this month compared to last year by six per cent, but the pullback in new listings was enough to cause inventories to fall by 15 per cent compared to last year’s elevated levels. Although conditions have improved in recent months, most areas and price points are still experiencing "buyers market" conditions.

 

Quick Stats:


 

June 2018

June 2019

Y/Y% change

Detached

     

Total sales

1,209

1,100

-9.02%

Inventory

4,816

3,961

-17.75%

Months of supply*

3.98

3.60

-9.60%

Average DOM

41

49

19.53%

Benchmark price**

$507,100

$488,900

-3.59%

       

Attached

     

Total sales

394

418

6.09%

Inventory

2,137

1,790

-16.24%

Months of supply*

5.42

4.28

-21.05%

Average DOM

51

62

22.42%

Benchmark price**

$332,900

$317,300

-4.69%

       

Apartment

     

Total sales

292

262

-10.27%

Inventory

1,877

1,790

-4.64%

Months of supply*

6.43

6.83

6.28%

Average DOM

59

71

20.55%

Benchmark price**

$258,300

$250,200

-3.14%


*Months of supply: The ratio between inventory and sales which represents the current pace of sales and how long it would take to clear existing inventory.

 

**Benchmark price: The monthly price of the typical home based on its attributes, providing the best measure of price trends.



5 Things Buyers Hate to See

When you show your home to prospective buyers, there is probably a long list of things you’re hoping they’ll notice. For example, you’ll want them to see the beautiful chandelier in the foyer or the spacious backyard and large deck, or the kitchen with the island big enough for a whole family to sit down for breakfast.


But what about those things you’re hoping buyers will not notice?

Every home has some features that are less than enticing to the typical buyer. You may not be able to do much about a small kitchen or a home backing onto a noisy main street.


However, there are several things buyers don’t want to see that you can change. Here are five of the most common:

  • Clutter. Closets stuffed full of clothes or rooms crammed with too much furniture are distractions. Clutter of any kind makes buyers feel uneasy - and gets in the way of showcasing the wonderful features of your home.
  • Maintenance issues. Buyers definitely don’t want to see a lot of things that need repairs or replacement, such as dripping faucets, faded or chipped walls, or overgrown lawns and shrubbery.
  • Smells. Of course, you can’t see smells. But buyers will notice the lingering aroma of exotic cooking, cigarette smoke, and pets. These smells may even limit the amount of time they want to spend exploring the home.
  • Personal items. Buyers will understand that a family is living in the home they’re viewing. However, constant reminders - in the form of vacation pictures, trophies, or scattered children’s toys - can make a buyer feel like an intruder.
  • You. It’s nothing personal, but buyers prefer to view your home without you in it.

Fortunately, all these things can be easily dealt with before you show your home.


How a Home Inspection Helps You

Whether you’re considering buying a particular home, selling your current property - or doing both - a home inspection can help.


This inspection is conducted by a qualified professional who takes a close look at every aspect of a home - structure, wiring, plumbing, and more - and identifies issues you may not have noticed yourself.


For example, a home inspector can determine that a furnace will need to be replaced soon, or that there is a water leak that needs to be fixed.


You’ll definitely want to get a professional home inspection before you buy a particular property. That’s why most offers to purchase a home are conditional upon passing a home inspection. (The last thing you want is to buy your dream home only to discover that the wiring needs to be updated!)


Need to find a reputable home inspector? Call me today for a recommendation.

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I have listed a new property at 92 4740 DALTON DR NW in Calgary.
**Open House Saturday, June 15th 1-3pm** Wonderful 2 storey - 2 bedroom townhouse in Dalton Square with nearly 1100 sq.ft. of total living space! This updated home with fenced and beautifully landscaped yard is only steps away from the Dalhousie C-Train station, shops and restaurants. The complex has had recent exterior upgrades including newer roof, windows, siding, and fences. The unit itself has been updated in recent years with a modern open layout on the main level, numerous kitchen upgrades including custom cabinets, granite counters and newer stainless steel appliances. The kitchen opens to the living room with large sliding doors to the deck / private yard with mature trees. There is a large crawl space under the stairs and additional storage in the laundry/utility room. The second level has two good sized bedrooms as well as an updated 4 piece bathroom. This townhouse is a must see! Call to book your private showing.
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Sales growth in May along with a decline in new listings helped to ease pressure on inventory levels, which finished the month at 7,467 units, a decline of 12 per cent compared to last year. Improving sales relative to inventory levels caused the months of supply to ease to just under four months. While still oversupplied, this is an improvement from the five months of supply recorded last May. Citywide sales in May totalled 1,921 units, 11 per cent higher than last year’s levels. However, sales remain 10 per cent below longer-term trends. This sales growth was primarily driven by homes prices under $500,000. Citywide benchmark prices totalled $424,600 in May. While prices have shown some signs of improvement month-over-month, they still remain four per cent lower than 2018 levels.


Quick Stats:

 

May. 2018

May. 2019

Y/Y% change

Detached

     

Total sales

1,059

1,182

11.61%

Inventory

4,504

3,921

-12.94%

Months of supply*

4.25

3.32

-22.00%

Average DOM

40

50

24.35%

Benchmark price**

$507,800

$487,900

-3.92%

       

Attached

     

Total sales

384

424

10.42%

Inventory

2,030

1,893

-6.75%

Months of supply*

5.29

4.46

-15.55%

Average DOM

51

61

20.95%

Benchmark price**

$333,900

$316,800

-5.12%

       

Apartment

     

Total sales

282

315

11.70%

Inventory

1,924

1,653

-14.09%

Months of supply*

6.82

5.25

-23.09%

Average DOM

59

70

17.61%

Benchmark price**

$255,600

$248,200

-2.90%

 

*Months of supply: The ratio between inventory and sales which represents the current pace of sales and how long it would take to clear existing inventory.

 

**Benchmark price: The monthly price of the typical home based on its attributes, providing the best measure of price trends.


Flexible Dumpsters for Home Renos

New synthetic fabric dumpsters offer a flexible method of holding and disposing of renovation waste - without the need to order a large and unsightly metal bin that sits on your front lawn or driveway for weeks on end. The industry calls them FIBC’s, or Flexible Intermediate Bulk Containers, but they’re more commonly known as big bags, bulk bags, bagsters and super sacks.


These durable trash containers can be purchased and taken home (or delivered) for indefinite use, then picked up for a preset fee when full. When the bag is picked up, another bag is dropped off. Available through specialty suppliers or through some home renovation stores, these “soft bins” are easy to move when empty, and they take up much less space than large metal dumpsters. They also take much less time to fill up, so you’ll have a tidier renovation site and less of an eyesore on your property.

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I have listed a new property at 451 DOUGLAS GLEN BV SE in Calgary.
**OPEN HOUSE SATURDAY, MAY 4TH 1-3PM** Exceptionally well maintained home in the heart of Douglas Glen. Featuring a classic main floor layout with lots of room to entertain! The kitchen features granite counter tops, with a raised eating bar, full height cabinets, undermount ceramic sink, upgraded stainless steel appliances, including a double oven and beverage fridge! Off the kitchen is a semi-formal dining room that opens up to the rest of the main level. Upstairs you'll find three good sized bedrooms and a massive bonus room with gas fireplace and beautiful marble tile surround. The master bedroom offers a walk-in closet and a full en-suite. The basement is fully finished with a 4th bedroom, full bath, 2nd family room and storage room. The private back yard features a two tiered deck and is fully fenced/landscaped. This is a must see home that's move-in ready. Recent upgrades include: newer carpets upstairs, HE washer/dryer, updated paint and trim, and much more. Call to book your private showing.
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The effects of Calgary’s economic climate continue to create weak sales activity and elevated inventory in the city’s housing market. In February, citywide benchmark prices were $414,400. This is nearly five per cent below last February, slightly lower than last month’s figures and over 10 per cent below highs recorded in 2014. While the market remains oversupplied, slower sales and price declines do appear to be influencing sellers. New listings this month eased by eight per cent compared to last year for a total of 2,211 units. However, the 976 sales this month were not enough to substantially impact inventory levels, which remain elevated at 5,885 units. As a result, it remains a buyer's market within most areas, property types and price points.

Quick Stats:

 

Feb. 2018

Feb. 2019

Y/Y% change

Detached

     

Total sales

653

593

-9.19%

Inventory

2,459

2,987

21.47%

Months of supply*

3.77

5.04

33.76%

Average DOM

45

62

38.53%

Benchmark price**

$502,100

$475,600

-5.28%

       

Attached

     

Total sales

239

234

-2.09%

Inventory

1,312

1,597

21.72%

Months of supply*

5.49

6.82

24.32%

Average DOM

56

62

11.25%

Benchmark price**

$328,600

$313,800

-4.50%

       

Apartment

     

Total sales

197

149

-24.37%

Inventory

1,436

1,301

-9.40%

Months of supply*

7.29

8.73

19.79%

Average DOM

68

71

5.00%

Benchmark price**

$256,700

$252,300

-1.71%

 

*Months of supply: The ratio between inventory and sales which represents the current pace of sales and how long it would take to clear existing inventory.

 

**Benchmark price: The monthly price of the typical home based on its attributes, providing the best measure of price trends.


A Bird’s Eye View of Selling Your Home

If you haven’t sold a home before, the process can seem complex and even intimidating. It really isn’t. In fact, the steps to selling your property - quickly and for the best price - are straightforward, although not necessarily easy.


Here’s a bird’s-eye view of the steps to expect:

  • Determine what your property will likely sell for on today’s market. This is referred to as the Current Market Value.
  • Decide on a list price. Doing this properly is crucial. If you set the price too high, you’ll discourage buyers from seeing your home. On the other hand, if the price is too low, you may be leaving thousands of dollars on the table.
  • Prepare your home for sale. This involves cleaning, de-cluttering, fixing and staging so that your property wows potential buyers.
  • Market and promote the property to the marketplace. This needs to be done effectively to maximize the number of qualified buyers who find out about and become interested in your listing.
  • Show your property to buyers interested in seeing it.
  • Negotiate offers effectively so that you sell your property for the best price and conditions.
  • Make a deal and begin the transaction paperwork!

Of course, you don’t have to do it all alone! As your real estate sales associate, I will do most of the heavy-lifting for you. I’ll be by your side throughout the process, helping ensure your home sale is trouble-free and successful.



Worried You Won’t Find the Home You Want?

If you’re thinking of selling your home, you may be concerned that you won’t be able to find the kind of property you’re looking to buy. After all, getting into a more desirable home is the main reason many people move in the first place.


Should you be concerned? There are a couple of things to consider:


First, think about the last time you purchased a car. You probably had a price range in mind and a general idea of the kind of vehicle you wanted. After visiting a few dealerships - or shopping online - you probably discovered seven or eight models that fit your criteria. Even with that limited selection, you were likely able to pick one that was right for you. Well, that’s good news. In the real estate market, there are probably dozens of properties available that meet many or all of your criteria. So, the odds are in your favour that you’ll find a property you love. Secondly, new properties come on the market all the time. As your real estate sales associate, I will keep an eye out on your behalf and quickly alert you to new listings that match your needs and wishes. Is it possible that you still won’t find a home that’s absolutely perfect for you in every way? Of course it is. However, there is an excellent chance you’ll get into a property that has everything you need and most, if not all, of what you want.



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As you may know, I build my business on repeat business and referrals. So, I focus a lot of my attention on providing the best client service I can. That service doesn’t end when the transaction is complete. It continues throughout the months and years in between your moves.


If you - or a friend, colleague, family member or neighbour - ever need to talk to an experienced and knowledgeable Realtor with the kind of commitment to client service that I strive to provide, I hope you’ll think of me.


I appreciate your support!



Market Update:


January sales totalled 804 units, 16 per-cent below last year and 21 per cent below long-term averages for the month. The Calgary Real Estate Board (CREB) expects this slow market to continue through the first quarter of 2019.


Persistent buyers’ market conditions have continued to impact prices. Citywide residential benchmark prices eased to $414,800 in January. This is nearly one per-cent lower than December and four per-cent below January 2018 levels.



Quick Stats:


 

Jan. 2018

Jan. 2019

Y/Y% change

Detached

     

Total sales

584

486

-16.78%

Inventory

2,200

2,834

28.82%

Months of supply*

3.77

5.83

54.79%

Average DOM

55

67

22.31%

Benchmark price**

$498,700

$476,500

-4.45%

       

Attached

     

Total sales

230

192

-16.52%

Inventory

1,150

1,466

27.48%

Months of supply*

5.00

7.64

52.71%

Average DOM

66

77

17.70%

Benchmark price**

$328,400

$313,700

-4.48%

       

Apartment

     

Total sales

145

126

-13.10%

Inventory

1,290

1,173

-9.07%

Months of supply*

8.90

9.31

4.64%

Average DOM

76

81

6.80%

Benchmark price**

$256,400

$251,300

-1.99%

 

 

*Months of supply: The ratio between inventory and sales which represents the current pace of sales and how long it would take to clear existing inventory.

 

**Benchmark price: The monthly price of the typical home based on its attributes, providing the best measure of price trends.



Should I Move or Renovate?


Determining whether you should buy a new home or fix up your current one isn’t easy. In fact, the decision can be steeped in so much drama, they make reality TV shows about it!


So, if you’re wondering whether to move or improve, here are three things to consider:


1. Will a renovation truly fix what you don’t like about your property?

If you’re tired of a small kitchen, for example, given the layout of your house, it might not be possible to make it any bigger. On the other hand, if you’re craving a spacious rec room with a cozy fireplace, then a renovation could make that happen.

Of course, there are some things you may want that aren’t specific to your house, such as an easier commute or nearby park. Those are features you may only be able to get by moving.

2. How much will a renovation cost? How does that compare to the cost of moving to a new home?

It’s important to get accurate estimates of both the cost to renovate, and the cost of a new home, so you can make an informed decision. 

Renovations often have a habit of costing more than you originally anticipate. Remember, the final result should be a home you want to stay in for quite some time.

3. Beware of compromising versus settling.

Whichever decision you make - to renovate or to sell - you can expect to have to make at least some compromises. That’s normal.

For example, consider the impact of adding an extension to your house. It would be a major renovation. Is it the ideal way to get the extra room you want? Do the benefits of renovating outweigh the benefits of finding a new larger home that already includes the space you need?

It can be a tough decision. If you’re in the midst of making it, call today to get the facts you need to make the best choice.




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I have listed a new property at 226 ASPEN HILLS VI SW in Calgary.
**Open House Saturday, Feb 2nd, 2-4pm** Modern 2 bedroom townhouse located in Mosaic Aspen Hills! The home was just painted from top to bottom and comes with low condo fees. Enter through the private fenced-in patio which faces a large green space. Modern windows create a bright foyer that features tile flooring and storage. Open main floor has chocolate brown maple hardwood throughout. The living room is open to the kitchen which features a large granite island, under mount sink with garburator, pantry, stylish slate backsplash and warm cabinetry. Up the open riser staircase, the 2nd floor has two good size bedrooms. The master bedroom has more large windows, faces the private green space and comes with its own 4-piece ensuite! A good sized 2nd bedroom, additional 4-piece bath and stacked washer/dryer finish the upstairs. A tandem attached garage with room for storage + utility room complete the home! Unit is close to schools, shopping, LRT, and Westside Rec! Call to book your private showing.
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There's no denying 2018 was a difficult year for the resale housing market in Calgary. This is mainly due to the continued weakness in the job market, constant lending rate hikes, as well as the new lending restrictions which took effect at the start of the year. Looking at the market as a whole (detached, attached, and apartment) prices declined approximately 1% from last month and are down over 3% from a year ago. All told, prices are down close to 10% from the high water mark set back in 2014. Despite these challenging conditions, I believe the housing market and this city as a whole have shown a great deal of resiliency over the past 5 years. 


Quick Stats:

 

 

Dec. 2017

Dec. 2018

Y/Y% change

Detached

     

Total sales

617

496

-19.61%

Inventory

2,040

2,592

27.06%

Months of supply*

3.31

5.23

58.06%

Average DOM

52

66

28.46%

Benchmark price**

$498,700

$481,400

-3.47%

       

Attached

     

Total sales

222

192

-13.51%

Inventory

1,099

1,288

17.20%

Months of supply*

4.95

6.71

35.51%

Average DOM

59

74

24.72%

Benchmark price**

$330,400

$317,900

-3.78%

       

Apartment

     

Total sales

170

106

-37.65%

Inventory

1,183

1,024

-13.44%

Months of supply*

6.96

9.66

38.82%

Average DOM

81

74

-8.62%

Benchmark price**

$257,800

$251,500

-2.44%

 

*Months of supply: The ratio between inventory and sales which represents the current pace of sales and how long it would take to clear existing inventory.

 

**Benchmark price: The monthly price of the typical home based on its attributes, providing the best measure of price trends.


4 Ways to Make the Home Hunting Process Easier

Shopping for a new home can be intimidating. With so many things to do and think about, it’s easy to feel overwhelmed. But it doesn’t have to be that way. Here are some good tips for making the home hunting process a lot easier and much less stressful.


1. Get your mortgage arranged in advance.


You don’t want to find the ideal home on the market, only to face problems arranging a suitable mortgage. You might end up losing the opportunity. So, make mortgage arrangements in advance by getting “pre-approved”. With that pre-approval, you can shop for a new home with confidence.


2. Clearly define the kind of home you want, and the neighbourhood you want to live in.


You can’t view every home that’s on the market. If you try, you’ll burn yourself out! So, write down a clear description of the kind of home you want. How many bedrooms? Big kitchen? Pool? 

Don’t forget to include the neighbourhood. Upscale? Close to downtown? Lots of trees and parks? Urban and close to shopping and theatres?

With this information, we can quickly create a shortlist of properties that meet your criteria.


3. Take good notes.


After viewing a few homes, you may easily start to forget the details. Was it the first property that had the large elm tree in the backyard or was that the fourth property you saw? If you take good notes, you’ll be better able to make decisions later on about which homes to shortlist.


4. Take care of yourself, and your family.


Eat right. Pace yourself. Don’t try to view too many homes in one evening or on one Saturday afternoon.



Doorways to Better Living Spaces

When people renovate or remodel a room, they almost always overlook the door. However, changing the style of an interior door, or adding a new one, can dramatically change the look of a living space - often for the better.


Although the most common type of door is the traditional solid 6-panel door, there are many other choices available. Want to add light and a greater sense of space to a room? Consider a door with glass panels. Do you have an interior door that gets in the way when opened? Change it to a bi-fold door, which cuts the distance of the swing in half.


There are also specialty doors that are designed to block noise, and sliding doors that tuck neatly into the wall when opened.


Interior doors are typically much less expensive than their exterior counterparts. So, making the decision to upgrade or add a door to a room is an affordable design option. Visit a door showroom and explore the possibilities.





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It's hard to believe another year is coming to a close. Personally, 2018 was a wonderful year; my wife and I welcomed our second child and I continued to build my business. I'd like to thank you for your business and for choosing me for all your real estate needs! Warmest wishes to you and your family this holiday season. I look forward to staying in touch in the new year.


Market Update:


The slow pace of sales continued last month with annual sales down nearly 20 per cent from the long term average. Additionally, current inventory as of November 30 sits at 6501 units, which is 32 per cent higher than the long term average for the month. The higher inventories and weaker sales are resulting in a buyer’s market with price declines. The citywide benchmark price was $422,600 in November, nearly one per cent lower than last month and over three per cent below last year’s levels.


Quick Stats:

 

Nov. 2017

Nov. 2018

Y/Y% change

Detached

     

Total sales

874

679

-22.31%

Inventory

2,765

3,491

26.26%

Months of supply*

3.16

5.14

62.52%

Average DOM

48

60

24.36%

Benchmark price**

$505,500

$486,000

-3.44%

       

Attached

     

Total sales

312

252

-19.23%

Inventory

1,423

1,693

18.97%

Months of supply*

4.56

6.72

47.30%

Average DOM

54

69

27.43%

Benchmark price**

$333,100

321,800

-3.39%

       

Apartment

     

Total sales

224

240

7.14%

Inventory

1,495

1,317

-11.91%

Months of supply*

6.67

5.49

-17.78%

Average DOM

66

65

-0.56%

Benchmark price**

$258,400

$252,800

-2.17%

*Months of supply: The ratio between inventory and sales which represents the current pace of sales and how long it would take to clear existing inventory.

**Benchmark price: The monthly price of the typical home based on its attributes, providing the best measure of price trends.


Affordable Staging Ideas

Remember the last time you walked through a furniture showroom? You probably noticed that the sofa, chairs, tables and other furnishings were arranged - or staged - to make them look more appealing. You might have seen an attractive lamp on a sofa end table, or an appetizing bowl of fruit on a dining room buffet.


When preparing your home for sale, you should do much the same thing. Stage each room to make it look its best. Studies prove this will help sell your home faster and for a better price.

In fact, there are professional stagers who provide consulting and installation for home staging. As your real estate agent, I can also provide you with practical ideas to get your home prepared for sale.

Here are some simple, affordable staging tips:

  • Make each room look as spacious as possible. This may mean putting some items, and even some furniture, into storage.
  • Remove unnecessary items from countertops, tables and shelves.
  • Keep decorative objects on shelves, tables and even sofas, in odd number groupings. According to Barb Schwartz, the originator of staging, this combination works best. So, put three pillows on a sofa, not two or four.
  • Make an older-looking piece of furniture look quaint and stylish by adding a throw cover.
  • Add life and good looks to just about any living space by adding flowers or a flowering plant.
  • Have the table set with your best china. It makes the buyer want to move in and sit down for dinner!
  • Consider replacing the sink, faucets and toilet to make an older bathroom look much better. It’s relatively quick and inexpensive.

Professional stagers look at your home through the eyes of the buyer. Do the same and you’ll be able to see what changes need to be made.



Cyber Safety for Computer Users of All Ages

No matter your age, if you use a computer - and especially the internet - you need to be savvy about security. Yet many users have no idea how vulnerable they might be to malicious thieves who can “hack” and “phish” into personal computers.


To prevent theft of information that can rob you and your family of your financial assets - and your dignity - be mindful of the following:

  • Educate young video gamers on the importance of protecting personal information, and instruct them to inform you of unusual requests for private facts, photos or activities.
  • While on social networks, be wary of unknown links to unusual blogs, tweets and other services that invite interaction.
  • When using unsecured Wi-Fi networks, increase your computer’s security levels, and ensure your computer has automated anti-virus upgrades.
  • During financial transactions, check that you use only trusted websites that start with “https” (the “s” stands for “secure”).


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Sales continued to decline in September totalling 1273 units city wide. This represents a 13 per cent decline from 2017 and is well below long term averages. 


With rising inventories, months of supply now sits at 6.25. The persistent oversupply continues to put downward pressure on prices with the citywide benchmark price falling to $428,700. This is down nearly one per cent from last month and three per cent from a year ago.

Quick Stats:

 

Sept. 2017

Sept. 2018

Y/Y% change

Detached

     

Total sales

919

792

-13.82%

Inventory

3,494

4,348

24.44%

Months of supply*

3.80

5.49

44.40%

Average DOM

42

58

39.75%

Benchmark price**

$508,200

$493,100

-2.97%

       

Attached

     

Total sales

332

269

-18.98%

Inventory

1,614

1,979

22.61%

Months of supply*

4.86

7.36

51.33%

Average DOM

49

59

21.66%

Benchmark price**

$336,000

$324,700

-3.36%

       

Apartment

     

Total sales

209

211

0.96%

Inventory

1,774

1,620

-8.68%

Months of supply*

8.49

7.68

-9.55%

Average DOM

56

66

16.42%

Benchmark price**

$264,300

$257,200

-2.69%


*Months of supply: The ratio between inventory and sales which represents the current pace of sales and how long it would take to clear existing inventory.

 

**Benchmark price: The monthly price of the typical home based on its attributes, providing the best measure of price trends.


Do You Know the Basics of Home Security?

Most people feel confident that they know the basics of home security. For example, they know to: keep all doors locked; have a light on in the house while away; and, never hide a key outside in an obvious place, like under the mat.


Yet, almost a million and a half properties get burglarized in North America each year. So, how can you prevent that from happening to your home? Here are a few lesser-known home security basics:

  • Actually, never hide a key outside. Thieves know all the hiding places. Instead, make sure all family members have a key.
  • Two-thirds of home burglaries occur during the day. So, be extra vigilant about making sure doors and windows are locked while you’re out during the day.
  • Surprisingly, most thieves are not daring. They are 2.7 times more likely to target a home without an alarm system.
  • Thieves will attempt to force entry through sliding-style doors and windows first. Make sure these have a locking bar or extra bolt lock.
  • Surprising, 40% of household burglaries do not involve forced entry. The thief is able to slip in through an unlocked window or door.
  • Don’t show off possessions! An imported racing bike parked next to the garage, or expensive audio equipment clearly seen through a window, is an invitation to burglars.
  • Take a look at the lighting and landscaping around your property. Are there spots where a thief could easily hide? If so, make some changes.
  • When planning a trip, have a trusted neighbour pick up newspapers, flyers and anything else that may accumulate at your door.

Your local police department may have more tips and special programs for keeping your home secure. Give them a call.


The Importance of Reading and Understanding an Offer

When you make or receive an offer to buy a property, it’s important that you read and understand every clause. It is especially important to understand any conditions or any changes that are made to the standard offer.


An offer may contain several types of conditions. The most common are “conditional upon arranging financing” and “conditional upon passing a professional home inspection.” However, there may be other conditions as well.

You should be aware of - and fully understand - all of them.

In addition, the wording of an offer may change during the back and forth negotiations that often happen. Aside from changes to the price, other clauses may be added, removed or reworded as well.

As your real estate agent, I will always explain the changes and ask you to initial them. This is done primarily to ensure you know and approve of what you’re signing.

A recent newspaper article tells the story of a buyer-seller legal dispute that resulted in a six-figure judgement against the seller. This was due, in part, to a lack of understanding of one of the clauses in the agreement.

You don’t want that to happen to you. Take the time to carefully review and understand an offer.


When to Call a Real Estate Agent

If you’re like most people, you go to see a doctor when you’re not feeling well or have a health concern. However, you may also visit your doctor for a check-up, or to ask questions about healthy living. In fact, consulting your doctor for anything health-related is a smart idea.


The same holds true when it comes to real estate.

Many people only call a real estate agent when they’re planning on selling their property, buying a new home, or doing both. While that’s an important reason to speak to a real estate agent, it’s not the only reason.

Indeed, there are many good reasons for you to give me a call. For example:

  • If you have a question about the state of the local real estate market. (Remember that it may be very different from what you hear on the news about the national market.)
  • If you want to get a sense of what homes are currently selling for in the area.
  • If you want to determine the current market value of your property.
  • If you want to find out how much homes cost in neighbourhoods you’d like to consider.
  • If you’re thinking about the possibility of making a move, but you’re not sure if it’s the right time.

In other words, don’t be afraid to contact me when you have a question or need some advice about the real estate market.






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Easing sales, an increase of new listings and the resulting inventory gains continue to hinder the Calgary real estate market.


Sales this month totaled 1,489 units, which is down nearly 7 per cent from 2017 and is 14 per cent below long-term market trends. Benchmark prices are down over previous months by 0.8 per cent and are 2.4 per cent below last year’s levels. Prices have trended down across most areas recently based on year-to-date figures, but have remained comparable to last year's levels in the City Centre and West districts of the city. 


These market conditions can be attributed to struggles in Calgary's employment market, a slow recovery in the energy sector combined with tighter lending conditions and competition from the new home sector. 

 

Quick Stats:



Aug. 2017

Aug. 2018

Y/Y% change

Detached




Total sales

983

927

-5.70%

Inventory

3277

4433

35.28%

Months of supply*

3.33

4.78

43.45%

Average DOM

40

51

28.36%

Benchmark price**

$510,200

$497,000

-2.59%





Attached




Total sales

364

320

-12.09%

Inventory

1,575

2,022

28.38%

Months of supply*

4.33

6.32

46.03%

Average DOM

49

58

18.95%

Benchmark price**

$336,500

$327,500

-2.67%





Apartment




Total sales

248

243

-2.02%

Inventory

1,767

1,666

-5.72%

Months of supply*

7.13

6.86

-3.78%

Average DOM

60

71

18.62%

Benchmark price**

$263,600

$258,100

-2.09%


*Months of supply: The ratio between inventory and sales which represents the current pace of sales and how long it would take to clear existing inventory.

 

**Benchmark price: The monthly price of the typical home based on its attributes, providing the best measure of price trends.


4 Cheap Ways to Prepare Your Home for Sale

If you want to improve how your home shows to potential buyers, you don’t necessarily need to invest in a costly remodelling or renovation. In fact, there are some simple - and relatively inexpensive - things you can do to make your property look significantly better.


1. Paint it.

There’s no doubt about it. A fresh coat of paint will significantly improve the appearance of just about any area of your home. In fact, compared to other home improvements, painting will give you the highest return on investment when you sell your property. Think beyond walls. Painting a door, window frame, garage floor or deck can make those features look like new.

2. Declutter it.

Eliminating clutter will make your home look more attractive, roomy and comfortable to buyers. Do an inventory of each room. Ask yourself: “What can I throw out? Give away? Sell? Put into storage?”

3. Put up mirrors.

Mirrors are a relatively inexpensive design feature. Yet, according to an article in Style At Home magazine, they can make small rooms appear bigger and dark rooms seem brighter. You don’t necessarily need to buy wall-hanging mirrors. Standalone floor models will have the same effect.

4. Repair it.

In most cases, you will have to get any needed repairs done anyway. So, do them before you show your home. That way buyers will focus on the appealing features of your property, not the minor defects.


What Home Inspectors See that You Can’t


When you make an offer on a home, it’s a smart idea to have a professional home inspector check it out from top to bottom. This inspection will ensure that the property doesn’t have any unexpected “issues”. After all, you don’t want to buy a home only to discover that the roof needs to be replaced, immediately, for thousands of dollars.


Nevertheless, you might question whether you really need to invest the few hundred dollars it costs for a professional home inspection. “The home we want to buy looks like it’s in very good shape,” you might be thinking. “I can’t see anything wrong with it.”

However, a professional home inspector can see things you can’t. When you view a property that’s on the market, you might be able to notice obvious issues, like a crack in the foundation or a dripping faucet. If you’re experienced with home maintenance, you might even notice roofing tiles that look like they’re overdue for replacement.

But, most people don’t have the equipment, knowledge or experience to identify all the issues a home inspector can.

A home inspector will, for example, use a special device to check for moisture build-up in the washrooms - which can be an indication of mould. A home inspector will also inspect wiring to make sure everything is safe and compliant with the building code.

That’s not all.

Like a determined detective, a home inspector will investigate the property’s structure, electrical and plumbing systems, insulation, and other components - and then report the findings to you.

In the end, a professional home inspection gives you peace-of-mind and protects your investment. So, getting one is highly recommended - even for recently built homes.

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Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
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.
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.