Warren Shouldice

Cell: 403-461-8103 |

November Real Estate Update

It’s hard to believe that 2016 has almost ended. I hope you’ve had a terrific year, and I wish you all the best for 2017!

Providing excellent service to my clients is very important to me. In fact, my business is built on repeat business and referrals from satisfied clients. That’s why I do my best to go the extra mile with the help and information I provide – whether it’s during a transaction or during the years in between transactions.

MARKET UPDATE:

After a busy October (due to CMHC's new mortgage rules taking effect), November's housing market returned to similar levels experienced over the past 18 months. In the detached sector, benchmark prices fell below the $500k mark for the first time since early 2014. Despite this, the detached market continues to outperform both condos and attached homes. This is largely due to the disparity in months of supply between housing segments.

The Alberta economy finally got some good news with the government's approval of two new pipelines this past week. Additionally, OPEC's decision to cut output also signals that the worst may be over for the energy sector. As the energy sector begins to show signs of recovery, hopefully so too will Calgary's real estate market!

QUICK STATS:

  Nov. 16 Nov. 15 Y/Y % change
Detached      
Total sales 777 798 -2.63%
Inventory 2322 2680 -13.36%
Months of supply* 2.99 3.36 -11.02%
Average DOM 45 days 43 days 5.18%
Benchmark price** $498,300 $515,600 -3.36%
       
Attached      
Total sales 255 269 -5.20%
Inventory 1223 1287 -4.97%
Months of supply* 4.8 4.78 0.24%
Average DOM 59 days 49 days 20.86%
Benchmark price** $330,000 $345,300 -4.43%
       
Condo      
Total sales 195 195 0.00%
Inventory 1430 1353 5.69%
Months of supply* 7.33 6.94 5.69%
Average DOM 58 days 50 days 16.02%
Benchmark price** $271,300 $291,100 -6.80%


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 it's attributes, providing the best measure of price trends.

 

 

Where To Put It All
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As you’re probably aware, one of the key steps to preparing your home for sale is to get rid of as much clutter as possible. You want to make every room look spacious and comfortable.

But what do you do with the pictures, boxes, clothing, tools, furniture and other stuff you need to take out of your home?

For items that you don’t want anymore, you have two options: dispose or donate. You can dispose of items at your local waste depot or recycling centre, (but be sure to call ahead to confirm which items they will accept.) Donations can be made to organizations like Goodwill and The Salvation Army. These organizations are interested in good furniture, clothing, appliances (that work), bikes and other toys (that don’t need repair), and tools.

For items you want to keep, consider renting space at a local self-storage facility. Most offer a variety of storage options from lockers to garages, and typically charge by the month. As for security, most self-storage facilities have fencing, gates that require a passcode, cameras and other security features. You can also lock your own unit.

One of the drawbacks of self-storage is that you have to move your stuff twice – first to the storage unit, and then to your new home. An alternative that’s becoming increasingly popular is a Mobile Storage Unit. The unit is placed in your driveway for a few days while you load it with the items you want stored. Then it’s picked up by the mobile storage company and taken to their warehouse. When you move, the company simply drops the unit off at your new home for unloading.

 

Why Bargain Hunting Is a Bad Idea
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It seems like every month there is a new website offering deals on everything from electronics to travel. In fact, the “coupon industry” is booming.

This trend has conditioned people, more than ever before, to look for bargains and become determined to pay well below the market price for merchandise. There’s nothing wrong with that. We all want a deal!

But when it comes to shopping for a home, bargain hunting can be a bad idea.

First of all, the real estate market is competitive. The overwhelming majority of homes sell for a price that is at, or close, to their respective market values. Your chances of finding a property that is listed significantly below its market value is slim to none.

Secondly, if you become fixated on finding a bargain, you may not notice all the great properties on the market that are within your price range and meet your criteria.

In other words, you may inadvertently pass on what may, in fact, be your next dream home.

So, when shopping for a new home, focus on finding the right property at the right price, and not on finding a bargain.

 

S.M.A.R.T. Get Smart With Your Success Goals
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At this time of year, people traditionally set goals for next year. Do you have something you want to achieve over the coming months? If so, then you’ll have a much better chance of reaching your goal if you make it “SMART”.

SMART is an acronym that refers to the five ingredients of a successful goal: specific, measurable, achievable, realistic, and time-bound. It is based on the work of famed management guru Peter Drucker, but the technique is equally applicable to personal goals.

Here’s how it works:

Let’s say your goal is to lose weight.

To make this goal SMART, you would need to make it specific – lose 7 pounds; measurable – track your weight every week; achievable – find a good program to follow; realistic – check with your doctor to make sure your weight loss goal is sensible, and time-bound – six weeks.

Studies prove that if your goal is SMART you’ll have a much better chance of achieving it. Good luck!

 

notable, quotable... quotes!

 

“If we did all the things we are capable of doing, we would literally astound ourselves.”

Thomas Edison

 

“Life is a combination lock, your job is to find the right numbers, in the right order, so you can have anything you want.”

Brian Tracy

 

“It’s time to start living the life you’ve imagined.”

Henry James

 

Not intended to solicit buyers or sellers currently under contract.
©IXACT Contact Solutions Inc.

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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.
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