Calgary Real Estate Blog

Record-low borrowing costs combined with the growing realization that the economic storm is passing have fuelled the remarkable recovery of the real estate market in Canada. However, it is important to understand some of the issues that have surfaced with these exceptionally low interest rates.

If you are obtaining a mortgage, you are fortunate to be obtaining some truly historically low interest rates. The decision between taking a variable rate mortgage versus a fixed rate mortgage should be evaluated with your mortgage consultant and/or your realtor to assess the pros and cons of each option. Although rates are exceptionally low, lenders are definitely exercising more caution with their lending policies.

If you are thinking of refinancing your…

Once again we saw record-setting sales numbers for the month of October. This brings the year-to-date sales close to, or even higher than, the same period last year. Strong sales growth has occurred across many property classes from price ranges that would attract first-time buyers to luxury properties selling for over one million dollars. Listing inventory remained at a low level, and combined with brisk sales, indicates that we are still in a strong sellers’ market.

“After a short dip in the winter, the average home price has rebounded because sales have been high relative to listings,” according to Jason Mercer, TREB’s (Toronto Real Estate Board) Senior Manager of Market Analysis. “Watch for listings to rebound240, 240);

For some people, a condominium lifestyle is the only way to live—no lawn maintenance, a pool and tennis court, and extra security features you might not have in a single-family home. Other people simply can’t breathe in a condo because the neighbours are too close for comfort. Consider the pros and cons and your specific needs and desires before deciding to buy a condo.

Because of all of the advantages of home ownership in comparison to renting, many of you will soon be reaching a point where you want to buy a home. However, you may not be sure whether you should actually buy a house or if you should look in to buying a condo instead. This is especially true for younger home buyers who might want the benefits of240, 240);

September was another record-breaking month for the resale housing market around the country, capping off a very busy and active summer. Inventory levels rose from last month but remain lower than September 2008, and that low supply coupled with continued strong demand for resale housing helped nudge selling prices higher.

The increased demand we saw in the spring has carried forward, buoyed by low interest rates and housing prices that, despite inching up in some areas, remain more economical in most areas.

Some urban areas like the Greater Toronto Area saw a noticeably high demand and sometimes competing offers forcing the prices up when compared to the same month last year.

“This recession has been a tricky240, 240);

Finding the right home may seem like the hard part of a real estate transaction, but in reality, getting the best financing can be much harder. This is partially because we have so many options nowadays for mortgage loans and so many places to find them. A mortgage broker can often lay out your options clearly. They will be armed with what you want in terms of loan term, ideal rate, targeted monthly payments and the like. If you're smart, you will talk to them before you decide on your home so you really know your price range.

Using a mortgage broker is by far the best way to go about finding and arranging the very best mortgage to suit your specific needs. Place your trust in a specialist that knows how to package your application, what pitfalls to…

Your main goal when selling your home, is to sell it quickly at the highest price while investing as little as possible in renovations. With a limited budget and a little effort, you can greatly increase your home's appeal by focusing on what prospective buyers can see on the first visit. 

"If they don't like what they see outside, they'll never walk inside, curb appeal can often mean the difference between a house sitting for months or selling in a few weeks. 

The view from the street can net you more traffic than you might think. Seventy-four percent of all home buyers use the Internet to shop for a new home, according to figures from the National Association of Realtors. 

Here are a few tips from professional240, 240);

Fire can be devastating to the home and family, yet many people ignore common fire hazards and don’t prepare themselves or family members for this common catastrophe.

While a house fire can happen by accident to unsuspecting homeowners, many house fires are completely preventable. Set aside some time and effort to protect your home from a devastating blaze with these safety tips.

1. Make sure you have adequate insurance
First you need to realize that nothing you can do will possibly reduce the risk of a fire to zero, so you will need to purchase adequate insurance to cover your home. This will help you, in the disastrous event of a fire at your house, cover the costs of the damage and help you get back on track.240, 240);

Last month we introduced some of the commonly used real estate terms and explained how these terms can make up a language of their own. This month we complete this series by introducing the commonly used Mortgage terms.

Amortization
This is a schedule that outlines your loan payments for the duration of the home buying loan. It details how much of each monthly payment goes toward the principal and how much goes toward the loan interest. Initially, the bulk of your payments will be applied toward the interest.

Appraised Value
An estimate of a property’s market value, used by lenders in determining the amount of the mortgage. Usually made by a qualified professional called an “appraiser”.

Assessment
The value of a240, 240);

With summer coming to a close, it is a good time to reflect on the local resale market. August numbers continued the positive trend set in July with sales and average prices up, year over year. 2009 has thus far continued to surprise market watchers.

“We are seeing an upward revision of our housing market forecasts at the national level,” says Bonnie Wegerich, President of the Calgary Real Estate Board. “I think it is fair to say the recovery in the market has been a little brisker than first expected—and all signs indicate the rebound, all be it gradual, will have some longevity.”

The increase in demand for existing homes has been widespread across different housing types and price ranges. This suggests many240, 240);

Buying or selling real estate can be a tricky process. There are hundreds of commonly used terms that could make up a language of their own. Here are some home buying terms that you will most likely encounter when you purchase your home.

Amenities
Features that enhance and add to the value or desirability of real estate. Common amenities include swimming pools, professional landscaping, gourmet kitchen and so on.

Amortization
This is a schedule that outlines your loan payments for the duration of the home buying loan. It details how much of each monthly payment goes toward the principal and how much goes toward the loan interest. Initially, the bulk of your payments will be applied toward the interest.

Appraisal
An240, 240);