Calgary Real Estate Updates

Garages are the most hardworking spaces in your home. Investing a few hundred dollars in garage organization tools during one weekend will pay off in savings of both time and money.

A clean and organized garage saves you time by keeping essentials in clear view, so you can find what you need without tripping over items or causing an avalanche whenever you pull something from the bottom of a pile.

You'll also save money because your sporting goods and tools will last longer when they’re stored safe from moisture, heavy weights and dust. Even your car will be protected from falling skis.

Step 1: Aim for spotless clean and clutter free
Start by cleaning out the junk. Release the clutter of your garage by selling or…

Have you recently moved to a new location? Do you know that you can deduct certain moving expenses on your next tax return, including transportation, packing and storage costs.

Many people never realize these tax benefits because they don't know what can be deducted. If you are preparing to move, it's best to be informed beforehand so you know which receipts to keep. You may find it worthwhile during a move to pay for various services that are tax-deductible rather than doing them yourself. A typical move involves a number of costs including hiring a company to transport personal effects and furniture, hotel stays and meals (if the move involves driving a long distance to a new home), and service fees to disconnect and reconnect utilities. In…

Finance Minister Jim Flaherty recently unveiled new mortgage rules aimed at stopping housing speculators and ensuring homebuyers can adequately handle their debts when interest rates inevitably rise. Mr. Flaherty stressed that Canada's real estate market is healthy, and that the new rules, which take effect April 19th, would stop “negative trends” from development.

"There's no clear evidence of a housing bubble, but we're taking proactive, prudent and cautious steps today to help prevent one. Our government is acting to help prevent Canadian households from getting overextended, and acting to help prevent some lenders from facilitating it," commented Minister Flaherty.

"The underlying message is that Canadians should be prudent in the obligations they…

The rebound that occurred in the Canadian housing market in 2009 was nothing short of incredible. Having started the year a dismal 47% off 2008 levels, sales steadily clawed back. Purchasers who held off in the final quarter of 2008 and the first quarter of 2009 quickly acclimatized to new market realities and moved to take advantage of favourable lending rates. Yet, inventory levels proved a significant impediment, as supply struggled to meet demand—down considerably for much of the year.

Consumer confidence started to return in the second quarter and the real estate market was the first place in the country to show signs of the recovery.

Housing proved to be a safe harbour for much of the year. Rock bottom rates fueled much of the activity, but…

Home ownership is the cornerstone of financial independence and security. It may seem a daunting prospect to younger people or first-time buyers, but it is achievable!

Like many would-be homeowners, you may be wondering how you can possibly afford to buy your first home. Even if you think you couldn’t afford a home, these saving tips and financing strategies can take you there sooner than you think and turn you from a renter into an owner.

Develop a culture of saving
The first priority for you should be to develop a culture of saving, this is not only helps you in budgeting and planning for the future, but also to satisfy banks and other lending institutions that you have a clear commitment to save.

Start an automatic saving plan
Saving for a down…

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 rebound in 2010 as homeowners react to the…

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 of living in a more communal situation…

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 tricky one. Consumers were expecting the…