Warren Shouldice

Cell: 403-461-8103 |

Moving to a new home can be a stressful experience. There are a myriad of details to worry about: selling your current property, finding a new home, getting financing, checking out local schools, hiring a moving company - the list goes on.


So, when you’re thinking of moving, it’s natural for you to want help. That’s where I come in. I’ll answer any questions you may have, and provide you with advice and suggestions to make the home selling/buying process easy and trouble-free.


Remember, I’m here to help!

Market Update:


Benchmark prices for the attached and detached sectors remained relatively unchanged from the same time last year. However, a rising number of new listings in both sectors has pushed inventory levels higher than last year. It's yet to be seen what effect the new mortgage requirements, which were introduced on Jan. 1, will have on the market. It's worth noting that the Calgary Real Estate Board has predicted that benchmark prices for detached and attached homes will remain relatively unchanged in 2018.


The apartment sector continues to face oversupply issues, however both inventory and months of supply are comparable to last year. The apartment sector will likely continue to struggle until it's able to clear some of the inventory it's been burdened with over the past three years.

Quick Stats:

 

  Jan. 17 Jan. 18 Y/Y % change
Detached      
Total sales 581 583 0.34%
Inventory 1,848 2185 18.24%
Months of supply* 3.18 3.75 17.83%
Average DOM 47 days 55 days 17.15%
Benchmark price** $498,700 $499,400 0.14%
       
Attached      
Total sales 211 230 9.00%
Inventory 995 1149 15.48%
Months of supply* 4.72 5 5.94%
Average DOM 62 days 66 days 6.89%
Benchmark price** $329,100 $328,000 -0.33%
       
Apartment      
Total sales 151 145 -3.97%
Inventory 1,267 1289 1.74%
Months of supply* 8.39 8.89 5.95%
Average DOM 68 days 76 days 10.95%
Benchmark price** $265,000 $256,200 -3.32%


*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.


Take a Walk on the Boardwalk (or Sidewalk)


If you’ve played the game Monopoly, you’ve probably picked up the Chance card that reads, “Take a walk on the Boardwalk. If you pass Go...”
 

That’s good advice when shopping for a new home. When you see a property you like and you’re thinking of making an offer, spend some time walking around the neighbourhood. This will give you a better sense of what it’s going to be like to live there.

 

After all, the last thing you want is to buy a dream home only to find out later that there are issues with the neighbourhood that make living there miserable. 

If you have kids, see how far a walk it is to local parks, playgrounds, schools and community centres. 

If you commute, you might also check out the route from the neighbourhood to your place of work. Is there a left turn that is likely to get backed up in the mornings?

Also check out how well the neighbours take care of their properties. Homeowners tend to keep their homes looking good if they enjoy the neighbourhood.

As you walk, listen. Are there noises from nearby high schools, industrial areas, or highways that are going to be unpleasant for you? Find out if the neighbourhood is near an airport flight path, or if there is a railway in the area. 

If you get a chance, talk to some of the neighbours. Ask them what they like most about living in the area. You’re likely to get some candid - and useful - answers.

Finally, spend some time visualizing living in the area. Can you see yourself enjoying what the neighbourhood has to offer?

If so, then buying a home in that area will likely be a good choice for you.

 

 

The Importance of Showing Your Home Often


Imagine coming across a “Home for Sale” listing on the internet. It’s in a neighbourhood you’re seriously considering. You and your family are excited. You can hardly wait to view the property and see if it could be your next dream home.


Then, there’s a problem. 

When you contact the agent, she says the homeowners are busy people and won’t be able to show the house until next week. Even then, the only time available is at noon on Wednesday, when you’ll be miles away at work. How about viewing the property on Saturday? Forget it. The homeowners are having company over that day.

Chances are, you’ll lose interest long before you ever get a chance to see that property! 

This may sound a little extreme, but it does illustrate an important point. 

If you don’t make your home readily available for buyers to view, many simply won’t view it, and your property may not sell.

That doesn’t mean you have to be inconvenienced each day by a steady stream of buyers stomping through your property. However, you do need to be flexible.

When buyers become interested in your home - by seeing the listing online, for example, they want to view it as soon as possible. The longer they have to wait, the more likely it is that another property will capture their interest.

They may even make an offer on another home before they get a chance to see yours! 

That’s why as your REALTOR®, I’ll work with you to arrange the dates and times that your home can be shown - a schedule that’s convenient for you as well as for potential buyers.



Deciding Whether to Stay Or Sell



Deciding whether to stay in your current home or look for a new one is tough. So tough in fact, that there is a reality TV show about it!


If you’re struggling to make that decision, here are some tips that can help:

 

  • Find out the current market value of your home. This will give you a clear idea of how much your property is likely to sell for in today’s market.
  • Find out how much you can afford to invest in a new home. This is calculated, in part, by how much of a mortgage you qualify to receive.
  • Determine whether your current home still suits your needs. Do you need to move up to a larger place? Downsize to a smaller property?
  • Figure out whether this is the right time to move to a neighbourhood that you’ve always dreamed of living in.
  • Assess whether your neighbourhood has changed in a way that you don’t like.
  • Decide whether you are still happy where you live. Is it time for a change?

As your REALTOR® I can help you answer these questions and provide the information you need to make the right decision.



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The calendar is a wonderful thing! When December ends and the new year begins, it feels like a fresh start. You have a whole year ahead of you to accomplish whatever goals you’ve set. What are your dreams and plans for the coming year? A step up in your career? A home renovation? A move? An exciting vacation?


Whatever you hope to accomplish in 2018 I wish you all the best in achieving it!


MARKET UPDATE:


Sales activity for all product types improved in December and pushed monthly sales to long-term averages for the second month in a row. However, new listings also rose, keeping inventory elevated compared to typical levels for December. With more supply remaining compared to sales, benchmark prices edged down for the fifth consecutive month.


The gap between detached supply to demand closed in the first half of 2017 and supported early price growth. As prices improved, this was perceived as a signal for many who delayed selling their home and caused a late rise in inventory which limited price growth. Overall, the detached benchmark price in 2017 averaged $504,867, 0.63 per cent above last year’s levels.


In the attached sector, the first half of the year saw an improvement in sales relative to inventory levels. This supported stronger price gains in the second and third quarter. However, a late rise in inventory levels took some of the momentum away from price growth in the fourth quarter.


Challenges continue to face the apartment sector, with elevated supply in the resale market. Competition from the new home and rental markets also weighed on this sector. The excess supply caused average annual benchmark prices to decline by four per cent this year. This is a total annual adjustment of nearly 12 per cent since the start of the recession. 


QUICK STATS:

 

 

  Dec. 16 Dec. 17 Y/Y % change
Detached      
Total sales 569 616 8.26%
Inventory 1,714 2033 18.61%
Months of supply* 3.01 3.3 9.56%
Average DOM 50 days 51 days 1.21%
Benchmark price** $498,900 $499,600 0.14%
       
Attached      
Total sales 214 221 3.27%
Inventory 943 1099 16.54%
Months of supply* 4.41 4.97 12.85%
Average DOM 59 days 59 days -0.25%
Benchmark price** $329,400 $330,100 0.21%
       
Apartment      
Total sales 146 169 15.75%
Inventory 1,109 1182 6.58%
Months of supply* 7.6 6.99 -7.92%
Average DOM 71 80 days 12.83%
Benchmark price** $266,500 $257,700 -3.30%


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.


WHAT TO LOOK FOR, ROOM BY ROOM


When viewing a home for sale, many buyers look at the property from a “macro” perspective. They ask themselves questions like: “Is it large enough?”; “Are there enough bedrooms?”; “Is it in a nice neighbourhood?” While those questions are important, it also pays to consider a potential new home from a “micro” perspective.

 

Here are some things to consider:


Living room and family room. Are they large enough to fit all the furniture? Are the rooms conducive to family get-togethers and entertaining? Do you need a separate living room and family room?

Kitchen. Is it important to have enough space to eat comfortably in the kitchen as well as the dining room? Does the kitchen have all the cupboard and other storage space you need? Will your fridge fit?

Bathroom. Is the main floor bathroom uncomfortably small? Does the ensuite bathroom have all the features you desire, such as a large tub and/or separate shower? Do you need double sinks?

Bedrooms. Is the master bedroom large enough to fit the bed and other furniture? Does it have the closet space you need? Are the other bedrooms large enough for your needs? (It’s a good idea to get the measurements of these rooms as it can be difficult to judge measurements during a viewing.)

Storage space. This is particularly important if you’re shopping for a condo. Does the storage space or locker have the space you need?

Closets. Are there enough closets for your needs? Is there a linen closet?

Garage. Homeowners use the garage for more than just cars. If you plan to use this space for storage or hobbies, check that the garage will be suitable for those purposes.

 

DON'T FORGET HOME INSURANCE


When you’re buying or selling a home, there are so many details to look after that it’s easy to miss something. One thing you don’t want to forget is insurance.

 

Once your property has sold, you’ll need to contact your insurance company to let them know the date that ownership of your property will be transferred (the “closing date”). They’ll arrange to cancel your insurance once you’re no longer the owner of that property.

 

If you’ll be taking possession of your new home, and leaving your current property vacant for a period of time, you’ll need to make sure both properties are insured. This may also apply to a condominium even if the unit is completely empty. (Contact your insurance company to ask about continuing liability coverage while discontinuing the insurance on contents.)

When you purchase a new home, don’t leave the insurance to the last minute. Contact your insurance company right away. Make sure they are aware of all the features of the new home that may reduce your premiums, such as alarms, and wired-in smoke detectors.

 

THINGS TO CHECK DURING THE WEEKS AFTER MOVING DAY

 

When you purchase a new home, the most exciting day is closing day. That’s the day you take possession of the property and, in most cases, move in. But the process isn’t necessarily over. There are still some important details to take care of in the weeks and months after the move.

 

For example, it’s a good idea to make sure you’re getting all your mail. Ideally, you will have made arrangements with the post office prior to your move to have your mail redirected to your new address. However, that service will eventually expire. Here’s a tip: Introduce yourself to the new owners of your old property. Ask them if they wouldn’t mind holding any of your mail that has been inadvertently delivered to them and you’ll make arrangements to stop by periodically to pick it up. Chances are, they won’t mind.

 

Also in the weeks after the move, you should take care of any repairs or other maintenance issues that were identified before you purchased the home. In the busy days leading up to moving day and in the excitement of settling in, these issues are easy to forget. You don’t want them to become bigger issues later on.


 

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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.