Warren Shouldice

Cell: 403-461-8103 |

How often has someone asked you about a particular professional or a service company? For example, they may have asked, “Do you know a good tree trimming service?” or “Can you recommend a great accountant?”


Chances are you’ve been asked plenty of times over the years.


The reason is obvious. Most people would prefer to work with a professional or company that a friend or neighbour has endorsed. That’s why they ask for recommendations!


With that in mind, when you get asked, “Do you know a great real estate agent?” I hope you’ll offer my name. If you do, I promise to provide that person with my very best service — as I do for all my clients.


Detached:


Calgary recorded 1,268 sales this month, a significant gain relative to last year and 30 per cent higher than longer-term trends. Sales this month improved across all price ranges except homes priced under $400,000. However, the decline in sales in the lower price range is likely related to limited supply choice. On a year-to-date basis, prices have improved across all districts, with gains that range from a low of five per cent in the City Centre to nearly twelve per cent in the South East. The City Centre is the only district where prices remain below previous highs. The September detached benchmark price of $537,500 has trended down slightly from the record high set in July, but this has not erased earlier gains, as it remains nearly 10 per cent higher than last year.


Semi-Detached:


With less supply choice in the lower price ranges of the detached market, many consumers have turned to the semi-detached sector. With 2,005 sales so far this year, year-to-date sales are over 45 per cent higher than long-term trends and have reached new record highs. The improvement in sales was, in part, related to the improvements in new listings. The sales-to-new listings ratio in this sector has averaged below 70 per cent over the past several months. This is nowhere near as tight as the detached sector, which has averaged 80 per cent. While conditions have not been as tight in the semi-detached sector, there have still been substantial price gains this year. As of September, the benchmark price was $424,900, slightly lower than last month, but over eight per cent higher than last year’s levels. Like the detached sector, the semidetached sector’s slowest price growth has occurred in the City Centre. On a year-to-date basis, prices remained below previous highs in the City Centre, North East and South districts.


Row:


With 318 sales this month, year-to-date sales pushed up to 3,057 units, which is 62 per cent above long-term trends and on pace to hit record levels this year. Sales have risen across every district, with the largest growth recorded in the South East district. While new listings did improve this month, it was not enough to prevent further declines in Inventory levels. The months of supply remained relatively low at less than three months, which is well below traditional levels for this time of year. Tighter conditions have supported price growth across all districts so far in 2021. However, unlike the detached and semi-detached sectors, row prices remain below previous highs across all districts in the city.


Apartment:


A boost in new listings this month translated into some gains in sales activity. However, with a sales-to new-listings ratio of 58 per cent, inventories still trended up relative to the previous month and last year’s levels. The months of supply remained just below five months in September, far lower than levels recorded last year and over the past five years. Conditions have generally been more balanced for this property type compared with other sectors, preventing strong price gains. On a year-to date basis, citywide benchmark prices improved by nearly three per cent, but they remain over 14 per cent lower than previous highs.


Quick Stats:


 

Sep. 2020

Sep. 2021

Y/Y% change

Detached

     

Total sales

1,055

1,268

20.19%

Inventory

3,065

2,496

-18.56%

Months of supply*

2.91

1.97

-32.24%

Benchmark price**

$488,800

$537,500

9.96%

       

Semi-Detached

     

Total sales

153

210

37.25%

Inventory

596

517

-13.26%

Months of supply*

3.90

2.46

-36.80%

Benchmark price**

$391,900

$424,900

8.42%

       

Row

     

Total sales

256

318

24.22%

Inventory

949

876

-7.69%

Months of supply*

3.71

2.75

-25.69%

Benchmark price**

$279,400

$299,600

7.23%

       

Apartment

     

Total sales

242

366

51.24%

Inventory

1,638

1,718

4.88%

Months of supply*

6.77

4.69

-30.65%

Benchmark price**

$250,100

$253,200

1.24%

 

*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.


DIY Friendly Bathroom Makeovers

  • Update the sink. If you have some basic plumbing knowledge, this is a project you should be able to do on your own. A new sink can make the entire vanity look like new.
  • Buy new decor. New shower curtains, towels, window coverings, mats, etc. can transform the look of a bathroom.
  • Install new hardware. Replacing cabinet hardware may not seem like much of a change. However, it can have a surprisingly big impact. Shiny new hardware is like jewelry. It stands out.
  • Replace the vanity mirror. Even if there are no scratches, an older mirror is like an old pair of glasses. It can become foggy. No amount of cleaning will make it any clearer. When ordering a replacement mirror, be sure that your measurements are exact.
  • Paint. There’s no doubt about it. A fresh coat of paint makes any room look better.

These bathroom improvement projects can make a huge impact on the look of your bathroom. And, they can all be done affordably and in just a day or two.



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I have sold a property at 5 2027 34 AVENUE SW in Calgary.
OPEN HOUSE: SUN JULY 11 11:30-1:00PM! Absolutely stunning and beautifully updated 2 bed, 2 bath inner city home, close to great restaurants, shopping, transit and downtown! INTERIOR RENOS INCLUDE: New beautifully renovated kitchen with new cabinets, quartz counter tops, fabulous island, new appliances, gorgeous new engineered flooring, new master 5 pc ensuite, New interior paint throughout! EXTERIOR RENOS INCLUDE: Complete exterior redone! New windows, doors, siding, roof and decks and fencing. This trendy END UNIT townhouse has a functional unique layout as well as a rare MASSIVE ROOF TOP PATIO and two additional balconies! There is a main level landing which leads up to the an entire level dedicated to the Master Bedroom retreat with gorgeous spa like 5 piece ensuite, closet with barn doors and a roomy private balcony where you can enjoy your morning coffee. The stylish top level has and open floor plan featuring a spacious dining room as well as large living room with wood burning fireplace. The kitchen is a dream with modern finishing details and a massive flat island perfect for entertaining and with sliding doors to the roof top patio - a true outdoor oasis and simply perfect to enjoy summer evenings! There is also a second bedroom on this level which can be used as an office/flex room and a 2 piece bathroom. The fully developed basement offers even more living space with a large recreation room and the laundry room and storage. There is an assigned parking stall as well as street parking in front of the unit. This meticulously maintained home has everything you could want and with a fantastic location. Check out the virtual tour to see all the wonderful features of this home.
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Calgary’s housing market is showing few signs of letting up, as sales reached 2,915 units in June – a record high for the month.

New listings in June totalled 4,135, the second-highest level ever recorded for the month. This caused inventories to trend up to 6,918 units. While this is higher than longer-term averages, it was balanced by strong sales and the months of supply remained relatively tight at 2.4 months. However, this is still an improvement from earlier in the year when the months of supply was below two.

As the market moves toward more balanced conditions, we are also starting to see the pace of price growth slow. The benchmark home price continued to trend up in June, but the monthly gain slowed to less than one per cent. While the pace of growth is slowing, as of June, the benchmark price was 11 per cent higher than levels recorded last year.



Detached

Despite some modest improvements in inventory levels, strong sales in June have kept the detached sector of the market firmly in sellers’ market conditions.

Despite the sellers’ market conditions in the detached sector, there is some variation depending on location. The districts with the strongest demand relative to supply are the North, North West, South, South East and East districts. Each of these districts has less than two months of supply in June, which is well below longer-term averages. The tightness in these areas has also resulted in the highest year-over-year price gains.

The City Centre has not experienced the same tight conditions as other districts and is the only district where detached prices have yet to recover from previous highs.



Semi-Detached

The pace of semi-detached sales growth is showing some signs of slowing, but year-to-date sales remain at record highs. New listings have also reached new highs so far this year. However, the growth in sales has outpaced the growth in new listings, preventing any significant shift in inventory levels.

The persistent sellers’ market conditions have caused benchmark prices to trend up, reaching $427,000 in June. Gains have occurred across all districts so far this year, but the amount of growth has ranged from a low of less than five per cent to a high of nearly 10 per cent. Despite these gains, only the North, West and South East districts have seen prices recover to previous highs.


Row

After the first half of the year, row sales totalled 2,045, their highest mark since 2007. Those sales have been met with record-high new listings. This has caused inventories to trend up over recent months to levels higher than what we typically see at this time of year.

The higher inventories have not been a problem, as they’ve been balanced by strong sales. The month of supply remains below three months and this sector continues to favour the seller. Recent gains in the months of supply are helping the market move toward more balanced conditions, but it is too soon to see the shift impact pricing.


In June, citywide row prices totalled $299,300, one per cent higher than last month and nine per cent higher than last year’s levels. Prices have improved across most districts, but they remain well below previous highs.



Apartment

Recent price gains have encouraged more people to sell their condominiums this year, causing both new listings and overall inventories to increase relative to the previous year. At the same time, relative affordability has supported sales totals that have improved from the exceptionally low levels recorded over the previous six years.

The result has been inventories that remain elevated compared to historical levels, but strong sales have helped bring the months of supply down to levels more consistent with balanced market conditions.


The balanced conditions have been supporting some price recovery in the market. Prices have trended up over the first half of the year and on a year-to-date basis they currently sit nearly three per cent higher than last year.


Prices have risen across all districts, but the largest price gain occurred in the West district. However, overall, prices remain nearly 15 per cent below previous highs.

 

Quick Stats:

 

June 2020

June 2021

Y/Y% change

Detached

     

Total sales

1,103

1,819

64.91%

Inventory

3,274

3,261

-0.40%

Months of supply*

2.97

1.79

-39.60%

Benchmark price**

$475,100

$537,200

13.07%

       

Semi-Detached

     

Total sales

185

243

31.35%

Inventory

641

592

-7.64%

Months of supply*

3.46

2.44

-29.69%

Benchmark price**

$384,000

$427,000

11.20%

       

Row

     

Total sales

243

411

69.14%

Inventory

965

1,101

14.09%

Months of supply*

3.97

2.68

-32.54%

Benchmark price**

$274,700

$299,300

8.96%

       

Apartment

     

Total sales

232

442

90.52%

Inventory

1,562

1,964

25.74%

Months of supply*

6.73

4.44

-34.00%

Benchmark price**

$240,700

$253,000

5.11%

 

*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.


The Latest Options in Outdoor Lighting

Outdoor lighting has come a long way from the days of patio lanterns and strings of lightbulbs. These days, there’s an exhaustive array of options available to illuminate your outdoor space, and make it more appealing and comfortable, particularly in the evenings.


Here are just a few ideas:


Solar garden lights. These lights are on stakes that can be easily inserted throughout the garden. Powered by the sun, they generate enough energy to cast a soft, pleasant glow along walkways or in flower beds in the evenings.


Deck post lights. These are easy to install because they’re designed to sit on top of a standard 4x4 wood deck post. Most are solar powered.


Street-style lamps. As the name implies, these look similar to old-fashioned street lamps. Installation is a little more complex, but still DIY-friendly. They’re eye-catching and have a dramatic impact on the look of your outdoor space.


Portable lantern lights. These are outdoor lights that are portable and often made to look like a decorative fixture for a coffee table or side table. They can be placed anywhere.


LED walkway lights. These are small lights that fit neatly and almost invisibly under stairs and around walkways. Walkway lights not only look good but also improve safety. Most are battery powered.


Planter lights. This is one of the most interesting options. Each one is both a flower pot and a light in one! The pot itself is translucent which allows the light inside to shine through.

Design experts say you should treat your outdoor space as you would any room in your home. Lighting it up for evening comfort and enjoyment is a good place to start.


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I have sold a property at 32 5315 53 AVENUE NW in Calgary.
Welcome to Varsity Estates Villas. This south facing townhouse is in a superb and convenient location that offers easy access to several amenities - including a short walk to the Dalhousie C-Train station and shopping complex, Crowchild Square shopping, Varsity Ravine Park, and a playground - yet is still tucked away on a quiet cul-de-sac. The unit is also close to Market Mall, the University of Calgary, and Bowmont Park and has quick access to Crowchild Trail and downtown. The kitchen features a bright, open layout, some open shelving, convection range with induction cooktop, white fridge and dishwasher, double sink, skylight and comfortable dining area. The living room is anchored by a wood burning fireplace with gas log lighter, marble tile surround and features three large windows that let in lots of natural light. Off the living room is a nicely updated two piece bathroom. Upstairs are two large and bright bedrooms offering plenty of closet space as well as a nicely renovated four-piece bathroom. The second bedroom can double as an office utilizing the large built-in desk. The basement is partially developed with a den/office, utility room and storage space. The den features warm cork flooring and closet space. The utility room houses laundry, a large sink, more storage and a built-in workbench. Numerous upgrades include maple hardwood flooring on the main floor, new light fixtures, a fully renovated upstairs bathroom with glass shower door, ceramic tiles, double sink and modern finishes, new windows, newer high-efficiency furnace and hot water tank, updated hardware and faucets, low-flush toilets, and two sola-tube skylights that bring in bright, natural light. This unit is a must see! Call today to book your private showing.
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I have listed a new property at 32 5315 53 AVENUE NW in Calgary.
Welcome to Varsity Estates Villas. This south facing townhouse is in a superb and convenient location that offers easy access to several amenities - including a short walk to the Dalhousie C-Train station and shopping complex, Crowchild Square shopping, Varsity Ravine Park, and a playground - yet is still tucked away on a quiet cul-de-sac. The unit is also close to Market Mall, the University of Calgary, and Bowmont Park and has quick access to Crowchild Trail and downtown. The kitchen features a bright, open layout, some open shelving, convection range with induction cooktop, white fridge and dishwasher, double sink, skylight and comfortable dining area. The living room is anchored by a wood burning fireplace with gas log lighter, marble tile surround and features three large windows that let in lots of natural light. Off the living room is a nicely updated two piece bathroom. Upstairs are two large and bright bedrooms offering plenty of closet space as well as a nicely renovated four-piece bathroom. The second bedroom can double as an office utilizing the large built-in desk. The basement is partially developed with a den/office, utility room and storage space. The den features warm cork flooring and closet space. The utility room houses laundry, a large sink, more storage and a built-in workbench. Numerous upgrades include maple hardwood flooring on the main floor, new light fixtures, a fully renovated upstairs bathroom with glass shower door, ceramic tiles, double sink and modern finishes, new windows, newer high-efficiency furnace and hot water tank, updated hardware and faucets, low-flush toilets, and two sola-tube skylights that bring in bright, natural light. This unit is a must see! Call today to book your private showing.
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The initial impact of COVID-19 on the housing market began last March. One year later, it is not a surprise that March sales in 2021 were higher than in 2020. However, at 2,903 sales, this was the highest March total since 2007. Inventory levels pushed above 5,400 units, but citywide months of supply fell below two months. This reflects the lowest months of supply for March since 2014 and these tight conditions have contributed to price gains. In March, the benchmark price trended up over last month to $441,900, over six per cent higher than last year’s levels. The price gains have moved the market closer to recovery, but prices remain over five per cent lower than 2014 highs.


Detached

Like last month, detached sales activity improved across most price ranges and all districts in the city. While new listings did improve, inventory levels remained relatively low at 2,409 units, causing the months of supply to drop to just over one month. The citywide detached benchmark price rose by nearly eight per cent compared to last year. Year-over-year gains ranged from a low of nearly three per cent in the City Centre to a high of nearly 11 per cent in the North and South East districts. Prices in most districts remain below previous monthly highs, but recent gains in both the North and South East have supported full price recovery in those areas. Product priced under $400,000 recorded the lowest sales growth, as limited inventory weighed on that segment of the market. However, rising sales and easing inventory resulted in tighter market conditions across all price ranges. This is likely supporting price gains, not only in the mid and lower price ranges, but also the upper price ranges in the market.


Semi-Detached

Steady gains in sales caused first quarter sales totals to reach nearly record highs for this property type. Improving new listings were not enough to offset the sales and the months of supply fell below two months for the first time since 2014. Low supply levels relative to sales contributed to further gains in prices, which, as of March, were nearly six per cent higher than last year’s levels. Benchmark prices trended up across all districts and prices remained higher than last year’s levels across most districts. The largest year-over-year price gains occurred in the North district, with an increase of nearly 10 per cent.


Row

Echoing the results of other property types, sales activity for row properties has risen far above long-term averages. However, it is the first time since 2014 that the months of supply has fallen below three months. The row-property market has taken longer to see tighter conditions, but the recent tightening is starting to have a more significant impact on price. As of March, row benchmark prices rose to $288,800, nearly three per cent higher than last year. However, activity was not consistent across all districts. The largest price gains occurred in the City Centre and West districts.  Despite recent gains, prices remain well below previous highs.


Apartment

For the third month in a row, sales activity was stronger than the previous year. New listings also rose and is causing some inventory gains. Despite the inventory gains, sales have been far better than levels seen over the past six years and the months of supply did trend down to the lowest March levels since 2014. Tightening conditions did support some year-over-year price gains in this segment. After experiencing falling prices for the better part of five years, this change is a welcome shift for most sellers. However, prices remain nearly 17 per cent below the 2014 highs.



Quick Stats:

 

March. 2020

March. 2021

Y/Y% change

Detached

     

Total sales

689

1,866

170.83%

Inventory

2,890

2,409

-16.64%

Months of supply*

4.19

1.29

-69.22%

Benchmark price**

$478,400

$516,300

7.92%

       

Semi-Detached

     

Total sales

115

269

133.91%

Inventory

632

444

-29.75%

Months of supply*

5.50

1.65

-69.97%

Benchmark price**

$389,000

$410,900

5.63%

       

Row

     

Total sales

152

383

151.97%

Inventory

900

877

-2.56%

Months of supply*

5.92

2.29

-61.33%

Benchmark price**

$281,000

$288,800

2.78%

       

Apartment

     

Total sales

218

385

76.61%

Inventory

1,441

1,686

17.00%

Months of supply*

6.61

4.38

-33.75%

Benchmark price**

$242,500

$250,000

3.09%



*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.


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In February residential sales totalled 1,836 units, representing the best February since 2014. In just a few months the Calgary market has caught fire, particularly in the detached segment with year-over-year benchmark prices jumping as much as 9% in some areas of the city.


“Despite continued COVID-19 restrictions, housing activity continues to improve. Much of the strong sales activity is expected to be driven by exceptionally low mortgage rates,” said CREB® chief economist Ann-Marie Lurie. “Confidence is also likely improving as vaccine rollouts are underway. Additionally, some of the worst fears concerning the energy sector are easing with recent gains in energy prices.” New listings also improved in February, but the gap between new listings and sales narrowed. This is causing the sales-to-new-listings ratio to rise to 65 per cent, keeping the months of supply well below three months. Conditions are far tighter in the detached sector of the market, especially for product priced below $600,000, where strong sellers’ market conditions are present with less than two months of supply. The market has faced relatively low inventory levels compared to sales for the past several months and prices continue to trend up. In February, the residential benchmark price rose over the previous month and currently sits four per cent above last years’ levels. Detached product has the lowest months of supply and is also exhibiting the most significant gains in prices. On the opposite end of the spectrum, the apartment condominium segment still has a relatively high level of inventory compared to sales, which is impacting price recovery for this property type.


As always, market conditions vary widely based on price, product type and location. For more information, or if you have any questions please don't hesitate to contact me!

 

Quick Stats


 

Feb. 2020

Feb. 2021

Y/Y% change

Detached

     

Total sales

678

1,123

65.63%

Inventory

2,748

1,927

-29.88%

Months of supply*

4.05

1.72

-57.66%

Benchmark price**

$478,400

$502,500

5.04%

       

Semi-Detached

     

Total sales

139

181

30.22%

Inventory

604

366

-39.40%

Months of supply*

4.35

2.02

-53.46%

Benchmark price**

$384,800

$398,300

3.51%

       

Row

     

Total sales

164

260

58.54%

Inventory

851

792

-6.93%

Months of supply*

5.19

3.05

-41.30%

Benchmark price**

$281,200

$284,700

1.24%

       

Apartment

     

Total sales

209

272

30.14%

Inventory

1,470

1,433

-2.52%

Months of supply*

7.03

5.27

-25.10%

Benchmark price**

$244,500

$246,400

0.78%

 

*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.


What to do When Closing Dates Don't Match

If you want to sell your current property and purchase your next dream home, you might be wondering whether the closing dates need to be on the same day. 


You might even be worried that you’ll lose a property if the closing dates overlap, or you’ll be put out on the street if the dates are far apart! For the most part, these concerns are unfounded. Thousands of properties change hands every day and usually everything works out just fine. In fact, it’s amazing how often closing dates actually do match! But, what happens if the closing date of the home you want to buy is days or weeks earlier than the closing date of your own property? Most lenders anticipate this situation and offer something called “Bridge Financing.” It is a special loan that allows you to purchase the property with the earlier closing date. When your current property closes, the bridge financing ends and your new mortgage – if you need one – begins on the new home.


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January sales were the highest they have been for the month since 2014, as housing market momentum from the end of 2020 carried over into the start of 2021. Sales activity improved across all product types and across all price ranges. “Discount lending rates are exceptionally low, which is likely attracting all types of buyers back into the market,” said CREB® chief economist Ann-Marie Lurie. “New listings in the market were also slightly higher than what was available over the past two months, which is providing more options to purchasers.” January’s new listings were 2,246 relative to the 1,208 sales in the market, causing inventories to edge up over December levels. These types of movements are typical for January, but 2021 is starting the year with 4,035 units in inventory. This is far lower than the past six years. Benchmark prices remained at levels relatively consistent with prices recorded at the end of 2020, but they reflect a year-over-year gain just below two per cent. Average and median prices recorded higher year-over-year gains, likely due to larger gains in sales in the higher end of the market. Those segments do not have the same inventory constraints as lower-priced product.


Quick Stats:


 

Jan. 2020

Jan. 2021

Y/Y% change

Detached

     

Total sales

515

731

41.94%

Inventory

2,487

1,683

-32.33%

Months of supply*

4.83

2.30

-52.32%

Benchmark price**

$478,900

$492,900

2.92%

       

Semi-Detached

     

Total sales

84

141

67.86%

Inventory

576

338

-41.32%

Months of supply*

6.86

2.40

-65.04%

Benchmark price**

$386,400

$391,300

1.27%

       

Row

     

Total sales

113

150

32.74%

Inventory

764

697

-8.77%

Months of supply*

6.76

4.65

-31.27%

Benchmark price**

$279,400

$280,900

0.54%

       

Apartment

     

Total sales

147

186

26.53%

Inventory

1,341

1,317

-1.79%

Months of supply*

9.12

7.08

-22.38%

Benchmark price**

$246,100

$245,100

-0.41%


*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.


Avoiding Moisture Problems in the Home

There are many hidden sources of moisture in your home that can lead to serious problems, such as mould.
 
To keep moisture levels in check, consider these tips:
 
  • Bathrooms are an obvious source of moisture build-up. Contractor and TV personality Mike Holmes recommends keeping the fan going for at least half an hour after a shower.
  • Check regularly for water infiltration around window and door sills, as well as other intakes into the home, such as dryer vents and cable wiring.
  • Determine the humidity level in your home. According to the Environmental Protection Agency, it should be 30-60%. (Keep in mind that humidity may vary greatly from room to room.)
  • Regularly inspect caulking around sinks, tubs and showers. Even a tiny break can cause water to leak gradually into the wall or floor, causing damage you may not notice for months.
  • Clean up wet spills as soon as possible. Be particularly careful with hardwood floors, as water can seep through and become trapped.
  • Repair leaking faucets and pipes immediately. Even a small drip can add significant moisture inside a vanity or kitchen cupboard.

Being mindful of moisture today can help you avoid potentially high repair bills later on.

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I have sold a property at 202 1731 9A STREET SW in Calgary.
PRICE REDUCED on this absolutely gorgeous and beautifully renovated TWO BEDROOM and TWO BATH apartment condo one block off 17Ave SW! Located in a smaller, quiet, concrete building, this open concept unit is amazing and perfect for entertaining! Features include new cabinetry with large farmhouse sink, quartz counters, tile backsplash, S/S appliances, flat ceilings with plenty of potlights, and a massive island with extra storage. The open living room and dining room, feature a modern fireplace and large windows allowing the light to flow through. The spacious master has an incredible walkin closet and a beautifully renovated 4pce ensuite with heated floors! There is a 2nd bedroom which is right across the hall from the totally renovated 3pce main bath. The laundry room has a stacking washer/dryer, a small freezer which is included and room for some storage. There is also a storage locker on the main floor and underground parking! A truly gorgeous condo only a block from the trendiest restaurants, boutiques, and shops! Check out the VIRTUAL TOUR in the supplements!
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Welcome to December! The last month of a year many of us would rather forget. Yes, 2020's been a bit of a train wreck, but at least there's some light at the end of the tunnel. I know I'm certainly looking forward to the new year. Whatever your hopes and plans are for 2021, I wish you nothing but good health, happiness and success!

 

Market Update:


For the sixth month in a row, sales in the Calgary market recorded a year-over-year gain. Sales growth over the past several months has been the strongest seen in the past five years, but the activity has not been strong enough to offset the pullbacks from the spring. Year-to-date sales remain over three per cent lower than last year's levels.

New listings continue to slow, reducing inventory in the market. On a year-to-date basis, new listings have eased by nearly ten per cent and are at the lowest level recorded since 2001. This has reduced the oversupply that has been impacting the market for nearly five years.


"The gains in sales in the latter part of this year have been a bit surprising considering the job losses and unemployment rate in our city," said CREB® chief economist Ann-Marie Lurie. "However, it is important to note that the shift to more balanced conditions has been mostly driven by the reduction of supply."


Tighter conditions in the housing market have contributed to some of the recent gains in benchmark prices. As of November, the benchmark price was $423,600. This is nearly two per cent higher than last year's levels.


However, conditions vary depending on price range. There is not a lot of supply for affordable homes in each product type because of high demand. This is likely causing differing price trends in the lower end of the market versus the higher end.

 

Quick Stats:

 

 

Nov. 2019

Nov. 2020

Y/Y% change

Detached

     

Total sales

703

883

25.60%

Inventory

3,002

2,244

-25.25%

Months of supply*

4.27

2.54

-40.49%

Benchmark price**

$478,200

$492,000

2.89%

       

Semi-Detached

     

Total sales

101

152

50.50%

Inventory

661

452

-31.62%

Months of supply*

6.54

2.97

-54.56%

Benchmark price**

$390,000

$395,100

1.31%

       

Row

     

Total sales

154

191

24.03%

Inventory

890

822

-7.64%

Months of supply*

5.78

4.30

-25.53%

Benchmark price**

$280,900

$282,200

0.46%

       

Apartment

     

Total sales

188

211

12.23%

Inventory

1,431

1,510

5.52%

Months of supply*

7.61

7.16

-5.98%

Benchmark price**

$248,100

$245,400

-1.09%


*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.


Avoiding the #1 Cause of Seller Stress


Do you know what causes the most common source of stress when selling your home? Is it scheduling buyer viewings? Is it the length of time it takes for your property to sell? Is it an offer that falls through? Those things can, indeed, cause some worry! But, the number one source of stress is actually simple to avoid. It’s not understanding the process. 


Even if you’re no stranger to moving, you should review the process involved in selling your current home before you list it. If you don’t, you might end up exposing yourself to anxiety that could have been easily avoided. Say, for example, you’re concerned that your home has been listed for too long. It’s been a week and no good offers have come in. Well, if you knew, in advance, how long a home like yours typically takes to sell, then you probably would know not to worry.

It’s important that you start the process by understanding what to expect. What happens when your home is first listed? How are buyers scheduled to see your property? What happens when an offer comes in? That’s why we will always review the selling process before you list and make sure all your questions are answered.

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Happy autumn. Let’s hope the coming season treats us all well!


Speaking of seasons, you may have noticed that the real estate market seems to have seasons. Traditionally, it’s slower in some months and busier in others. In fact, that might lead you to try to “time” the market and sell when it’s hot. But, be careful. Like the weather, the real estate market can be unpredictable. Yes, it may be active next spring – but, then again, it could be slow. There’s no way to know for sure. In fact, the best criteria for deciding whether or not to sell your property isn’t as much the market as it is your personal wishes. If you want to move within the next couple of months, there are ways to make that happen.


So, don’t let market conditions delay or derail your plans to move. Properties sell in all kinds of markets, and yours can too!



Market Stats:


 

Oct. 2019

Oct. 2020

Y/Y% change

Detached

     

Total sales

846

1,139

34.63%

Inventory

3,498

2,736

-21.78%

Months of supply*

4.13

2.40

-41.90%

Benchmark price**

$481,200

$489,800

1.79%

       

Semi-Detached

     

Total sales

144

174

20.83%

Inventory

710

559

-21.27%

Months of supply*

4.93

3.21

-34.84%

Benchmark price**

$398,300

$394,700

-0.90%

       

Row

     

Total sales

200

217

8.50%

Inventory

962

909

-5.51%

Months of supply*

4.81

4.19

-12.91%

Benchmark price**

$290,700

$274,400

-5.61%

       

Apartment

     

Total sales

248

234

-5.65%

Inventory

1,492

1,629

9.18%

Months of supply*

6.02

6.96

15.71%

Benchmark price**

$251,800

$248,600

-1.27%

 

*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.


Protecting your Home Gadgets from Hacking

Imagine your coffee maker switching on by itself, staying on for hours, overheating and becoming a fire hazard. That’s not science fiction. As more and more appliances incorporate WIFI, the opportunities for hackers to play havoc with them increase.


How do you prevent that from happening? Here are some safety tips:

  • If your gadget uses a password to access the settings, change that password frequently. Ideally, change it once every 3 months.
  • Some gadgets, such as alarm systems, come with their own connection to the internet. Learn how to turn that connection off if it becomes necessary to do so.
  • Don’t leave an internet-connected appliance or other gadget on constantly unless it’s necessary. For example, you don’t need your home speaker system connected to your digital music providers all the time.
  • Baby monitors with video are a common target for hackers. Use a password unique to that device and change it often. Never leave the monitor on when not in use.
  • Never share passwords with anyone unless it is absolutely necessary. Most home WIFI systems have a “guest” feature with a separate password and limited access. Use it.

In this age of internet connectivity — from coffee makers to stereos and even washing machines — it’s smart to play it safe. Know what’s connected and protect yourself.

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I have sold a property at 407 1111 13 AVENUE SW in Calgary.
As the "love-child" project of two "inner-city kitty's"...that is, until BABY made 3! This impeccably-renovated Loft will be sure to impress! Soaring 16-ft vaulted Ceilings, this two-bedroom Penthouse immediately inspires a sense of calm as soon as you walk in! Ideal location for a fully walkable lifestyle, the Montage is a well-managed building. Massive ceilings, clean lines with natural light flooding in throughout the day with southern exposure and multitude of windows. A wood-burning fireplace with custom mantel sets the focal point of the living room, with the elegant designer kitchen with contemporary finishes, tiled backsplash, and SS appliances. A private, sunny retreat makes tending to your garden or entertaining friend - a delight! Lofted master complete with a large storage room, while on the main level is a spacious second bedroom or den and fully upgraded bathroom. An unsurpassed location in a highly walkable neighborhood just minutes from downtown on foot or by bike. Welcome Home!
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I have sold a property at 1621 13 AVENUE SW in Calgary.
This well cared for home is located on a beautiful tree-lined street and ideally situated between 17th Avenue and the Sunalta LRT. Numerous upgrades have been made over the years including: a newer roof, eaves and downspouts, a sewer line replacement and a newer front porch and balcony. The basement has been renovated and turned into a cozy one-bedroom suite (illegal) with a private side entrance. The main floor features hardwood floors, newer paint and an updated kitchen with recessed lighting. Upstairs, you will find three bedrooms and a four-piece bathroom. The primary bedroom has a private balcony overlooking 13th Avenue. Out back is another deck, with a gas hook-up and a private south facing yard. This is a fantastic, inner-city property priced well under $600k. Don't miss out!
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I have listed a new property at 1621 13 AVENUE SW in Calgary.
This well cared for home is located on a beautiful tree-lined street and ideally situated between 17th Avenue and the Sunalta LRT. Numerous upgrades have been made over the years including: a newer roof, eaves and downspouts, a sewer line replacement and a newer front porch and balcony. The basement has been renovated and turned into a cozy one-bedroom suite with a private side entrance; the suite generates $1000/month in rent. The main floor features hardwood floors, newer paint and an updated kitchen with recessed lighting. Upstairs, you will find three bedrooms and a four-piece bathroom. The primary bedroom has a private balcony overlooking 13th Avenue. Out back is another deck, with a gas hook-up and a private south facing yard. This is a fantastic, inner-city property priced well under $600k. Don't miss out!
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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:


 

May 2019

May 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.
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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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Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
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.