751 218 40
ONLY ONE LOT LEFT!
That’s right. Alberta’s premier recreational and retirement resort
Gleniffer Lake Resort & Country Club
has just one developer lot remaining.
This is a large pie lot (over 353 m2) and fully serviced
with 100-amp power, water, sewer, natural gas and telephone
And the developer wants it SOLD!
So, the price has been slashed from $119,900 to $89,900!
Gleniffer Lake Resort & Country Club is perfectly situated on the shores of Gleniffer Lake, just an hour and a half north of Calgary, 25 kms west of Innisfail in Central Alberta. Gleniffer Lake is not your typical prairie lake. At 7.5 kms long and 1.5 kms wide with a depth reaching over 33 m (100 ft), the lake is clean and clear all summer long. No algae even on the hottest days. Sailing, water skiing, fishing, swimming and all the water activities you love are available all summer.
There is also a challenging 3,300-yard, 9-hole golf course with water on 8 of the nine holes. Other amenities at the resort include:
- 13,000 sq. ft. clubhouse
- Fitness room
- 3 Swimming Pools (1 year-round indoor)
- 2 Hot Tubs
- Tennis Courts
- Restaurant & Lounge
- Year-Round Water, Sewer & Power
- State of the Art Water & Sewer Treatment Plants
- Gated Community
Come and see what all the fuss is about. Alberta’s secret hidden jewel. You won’t be disappointed! To view a few photos, please go to http://bingspics.com/gleniffer-lake-resort/.
And now Gleniffer Lake Resort & Country Club is owned by the residents of the resort!
Call for your tour today.
Bing Fountain, Broker/Owner
City of Calgary, January 2, 2020 – 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.
For more information on the 2020 housing market, the annual forecast report will be released at CREB®’s 2020Forecast Conference & Tradeshow(www.crebforecast.com) on Jan. 14, 2020.
• Improving sales in the second-half of the year helped offset earlier declines. This resulted in detached sales that are relatively unchanged from 2018 levels.
• While city wide levels remained stable, homes priced under $500,000 recorded sales growth of nearly nine per cent. However, sales declined by 11 per cent for homes priced over $500,000.
• When considering sales activity by district, sales activity eased or remained relatively stable across most districts. However, exceptions include the North West and South Districts which recorded annual sales growth.
• Supply levels generally eased, but the adjustments were not consistent across the city as inventories rose in both the West and City Centre districts.
• Detached benchmark prices were $480,100 in December contributing to the 2019 average of $484,808, three per cent below last year’s levels.
• 2019 price declines ranged from a one per cent in the North East district to a five per cent decline in the City Centre district.
• Stronger apartment style sales in December were enough to push annual levels to 2,672 units. This is just above last year’s levels.
• The improvements were mostly driven by gains in the North, West and South East districts. This is offsetting the significant declines in the North East, North West and East districts.
• New listings continue to ease across all districts except the South East. This district has seen a rise in new home constructionand is likely contributing to some of the rise in new listings and inventory. Despite these trends in the one district, easing inventories relative to the sales have helped reduce some of the oversupply in this segment.
• Reductions in oversupply helped ease the rate of decline in resale apartment condominium prices. However, prices in December remained one per cent below last years levels with a price decline range of five per cent in the West district to a one per centincrease in the South East district.
• The attached segment of the market has seen the largest improvements in sales when compared to the other product types. Annual sales improved by nearly seven per cent for a total of 3,780 sales.
• Both row and semi-detached product recorded improving sales with easing new listings and inventories. However, there was some variation depending on the district.
• December semi-detached prices were $388,200 and row prices were $283,000. Both segments saw annual price declines in excess of three per cent and remain well below previous highs.
• Depending on the district, the range of price activity varied significantly across the semi-detached and row segments. In 2019, price activity ranged from a seven per cent decline in row prices in the East district to a one per cent increase for semi-detached product in the North district.
You can download the complete statistics package HERE.
I wish you and yours a wonderful
Healthy & Propsperous New Year!
Courtesy of CREB
City of Calgary, December 2, 2019 – Year-to-date residential sales in the city remain just above last year’s levels due to improvements in the attached sector so far this year.
However, November sales activity eased over last year’s levels, mostly due to pullbacks in the apartment sector.
Meanwhile, new listings eased enough relative to sales to cause inventories to ease and the amount of oversupply to come down slightly compared to last year’s levels.
“Achieving more stable conditions will take time. Sales activity has been settling in at lower levels and is likely being influenced by the economic conditions and uncertainty weighing on our market,” said CREB® chief economist Ann-Marie Lurie.
“While the amount of supply in the market continues to ease, the persistent oversupply continues to weigh on prices.”
As of November, the citywide unadjusted benchmark price was $419,100. This is just below last month’s levels and two per cent lower than last year’s levels.
Market conditions continue to vary depending on price, location and product type. For example, prices have ranged from a year-to-date decline of nearly eight per cent for row product in the East district to a two per cent increase for semi-detached product in the North district.
Larger price declines are often caused by high supply in the new-home and resale markets relative to demand.
• Detached sales improved in November over last year’s levels, mostly due to growth in the $400,000 –500,000 range. However, sales in November and overall activity remain low by historical standards.
• Despite some recent gains in sales activity, year-to-date sales remain comparable to last year’s levels and 20 per cent below longer-term trends. However, detached sales have improved in both the North West and South districts this year.
• Improving sales, combined with further declines in new listings, helped reduce inventories in this sector compared to levels recorded last year. However, supply levels remained elevated based on seasonal comparisons.
• Like some of the other sectors, the detached market is slowly moving toward more balanced conditions. However, it is still oversupplied, and this trend continues to weigh on prices.
• The detached unadjusted benchmark price was $481,500 in November, slightly lower than last month’s levels and two per cent below last year’s prices.
• Apartment sales pulled back this month, causing year-to-date sales to remain comparable to last year’s levels and 21 per cent below long-term averages.
• The monthly decline in sales was mostly driven by pullbacks in the City Centre, North West and South East districts. However,ona year-to-date basis, sales activity improved in the North, West and South East districts.
• New listings rose across most districts, causing city-wide inventory gains this month. Much of the gains were a result of a risein new-home listings filtering into the resale market. Despite the monthly shift, year-to-date new listings and inventories remain lower than last year’s levels.
• Weaker sales, combined with rising inventories, pushed November months of supply to over seven months. This is higher than last year’s levels of more than five months.
• Persistent oversupply in this sector caused prices to ease. The year-to-date benchmark price declined by more than two per cent.
• Year-to-date sales remain more than six per cent higher than last year’s levels and just below long-term averages.
• New listings eased this month compared to last year and sales improved. Inventories continue to ease from the monthly highs recorded last year. While the attached market remains oversupplied, the market continues to improve over last year’s levels.
• November semi-detached prices eased by two per cent compared to last year. The largest year-over-year declines occurred in the City Centre district.
• Row prices eased by nearly four per cent compared to last year. Annual declines ranged from more than seven per cent in the North East district to nearly two per cent in the North West and East districts.
You can download the complete statistics package HERE.
Thinking about a recreational property? A weekend getaway or a retirement home. Away from the rat race of the big city yet still close enough to family and friends? Consider Gleniffer Lake Resort. Just an hour and a half north of Calgary.
A four season resort.
Give me a call at (403) 253-7326.
Below is courtesy of CREB
Alberta’s recreational property market will likely be soft this winter, creating opportunities for prospective buyers.
Elton Ash, regional vice-president for RE/MAX Western Canada, says older buyers have been the recreational market’s strength for years, but millennials are growing in purchase numbers.
RE/MAX’s 2019 national recreational property survey shows 40 per cent of all Canadians, and 56 per cent of millennials, are in the market for a recreational property – whether it’s for family getaways, outdoor activities and/or investment.
“While millennials have been late-launching, they see the need to become unplugged,” said Ash. “And they are a bigger generation than the Boomers, who, as the wealthiest generation, will be transferring some of that wealth to millennials or their children (Generation Z).”
Ash says Alberta’s downturn has dampened the market, but there’s still investment money available, thanks to the province’s diversification into high-tech industries and cannabis (Alberta has the most retail outlets in Canada and a growing number of production plants).
“There is a tendency to think everyone is in the same boat,” he said. “But this market creates opportunity. If everyone is selling, then you should be buying.”
He says markets like Crowsnest Pass in Alberta and Invermere/Radium in British Columbia (where logging has taken a hit) are full of investment opportunities.
Canmore’s the only Alberta area where the market isn’t suffering, says Ash, because it’s not totally dependent on Alberta buyers. The town saw a six per cent price increase this year, although this is expected to flatten out next year.
“There is a tendency to think everyone is in the same boat. But this market creates opportunity. If everyone is selling, then you should be buying.” – Elton Ash, RE/MAX Western Canada
Rob Stevens, a REALTOR® with Canmore’s RE/MAX Alpine Realty, says Canadians from all over “want to be here,” but there continues to be strong Calgary demand.
Buyers include both retirees and millennials. However, what millennials are buying differs from their boomer counterparts.
“They search for value, with a smaller footprint,” said Stevens. “They question just how much space they need to enjoy themselves.”
Properties include a growing number of condos (starting in the $300,000s for 700 square feet), as well as luxury, single-family homes worth millions of dollars.
Panorama Resort Real Estate’s Paul McIntyre has sold recreational property for three decades and is also seeing younger buyers (many in the 35-40 age bracket) at the popular mountain resort near Invermere.
Sales have increased 25 per cent this year, “with the majority still coming from Calgary and southern Alberta,” he said.
While there are still oil-industry purchasers, buyers from the high-tech sector – some using Panorama as their place of primary residence, since “they can work from anywhere” – are on the upswing.
With everything from one-bedroom condos starting at $100,000 all the way up to luxury, $1-million homes, the area’s property offerings are diverse, and McIntyre says there is growing awareness of Panorama’s reputation as a world-class, four-season resort.
Courtesy of CREB
Proximity to Calgary, affordable home prices and a variety of nearby amenities are making two towns in Mountain View County enticing options for house hunters willing to commute.
At about 40 minutes and 30 minutes from Calgary, respectively, Didsbury and Carstairs have helped some homebuyers balance a job in the city with the benefits of rural life.
“There are a lot of commuters (in Didsbury),” said Gord Leeson, an associate with Royal LePage Wildrose. “At 6 a.m., if you park by the main drag out of town, you’ll see car after car heading out, going to Calgary.”
“Under $300,000, you can find a very nice, three-bedroom, 1,200-square-foot home.” – Gord Leeson, Royal LePage Wildrose
Calgarians looking for more affordable homes are one of the key buyer demographics in these towns, he adds.
Year to date, both Didsbury and Carstairs have recorded an increase in year-over-year overall residential sales, according to CREB®.
Sales in Carstairs rallied 34 per cent from the same time in 2018, while transactions in Didsbury grew by 1.5 per cent. Both towns offer strong value, says Leeson.
“Under $300,000, you can find a very nice, three-bedroom, 1,200-square-foot home,” he said.
CREB® says the year-to-date benchmark price across all home types in Carstairs is $317,967, which is down 5.5 per cent year over year. In comparison, Calgary’s year-to-date benchmark price is $423,478.
“Now would be the time, if you wanted to buy,” said Leeson.
Carstairs and Didsbury, located about 10 minutes apart, have all the elements people look for in a community.
Leeson calls Didsbury the “best-kept secret,” adding “it has all the amenities.”
On this point, he singles out Didsbury District Health Services hospital, as well as the Didsbury Aquatic Centre, as important features in town.
“The schools are all here, all the shopping is here,” said Leeson. “You may not have the selection, but … from Carstairs, CrossIron Mills isn’t that far, (and) from Didsbury, Olds isn’t that far.
“You don’t have to worry about getting what you want and very seldom have to go into the city.”
If you have been thinking about getting out of the rat race of the city to a small community and have question, please give me a call. (403) 253-7326
Courtesy of CREB
City of Calgary, November1, 2019 -Sales activity in October improved by nearly 10 per cent compared to last year, driven mostly by improvements for apartment and attached product.
New listings also eased, which helped reduce inventory levels and the oversupply in the market. Despite the move to more balanced conditions, the market remains oversupplied and prices continue to remain below last year’s levels.
“Employment has shifted in the city, with job growth occurring in our non-traditional sectors and often at a different pay scale. This is consistent with the shift to more affordable housing product,” said CREB® chief economist Ann-Marie Lurie.
“However, at the higher end of the market the amount of oversupply is rising, as supply cannot shift enough to compensate for the reductions in demand. This is likely causing divergent trends in pricing and preventing prices from stabilizing across the city.”
This is a market where signs of improvement are not consistent across all product types and price ranges.
Improvements in sales are occurring in the lower price ranges across all product types. This is not yet translating into price shifts, as persistently elevated supply levels continue to place downward pressure on prices.
As of October, citywide unadjusted benchmark prices were $422,900, just below last month’s levels and two per cent lower than last year’s levels.
- Sales activity this month came in just above last year’s levels, thanks to growth in all districts except the North East and North. However, year-to-date citywide levels remain comparable to last year’s levels and over 19 per cent lower than longer-term trends.
- New listings continued to ease this month, but at a slower pace than levels recorded over the past eight months.
- Improvements in sales and easing new listings brought down inventory levels by 15 per cent. With 3,391 units in inventory, the months of supply is just under four months. This is a decline compared to last year, but it is still high based on longer-term trends. Months of supply eased across all districts except the North, likely due to the increased pressure coming from the new-home sector.
- Unadjusted benchmark prices eased over the previous month due to declines in all districts except the South East and East. Overall, prices in October remained nearly two per cent lower than last year’s levels and nearly eight per cent lower than previous highs.
- Apartment sales continued to improve this month and new listings eased. This helped reduce inventory levels and brought the months of supply down just under 6 months. Despite improvements, the market remained firmly in buyers’ territory.
- Year-to-date improvements in sales were driven by gains in the North, West and South East sectors. Inventory declines have occurred in all districts except the South East.
- Overall, year-to-date prices remained over two per cent lower than last year’s levels and nearly 17 per cent lower than peak pricing. However, there are some signs of stabilization in prices this year, with prices in the North East, South East and East remaining comparable to last year.
- The attached market continues to show the largest increase in sales, with year-to-date growth of nearly seven per cent. Improvements occurred across all districts except for the North West and North East.
- New listings have eased by eight per cent so far this year, causing inventory declines and reductions in the amount of oversupply.
- Like most sectors, this segment remains oversupplied, which is causing price adjustments. As of October, semi-detached and row prices remained two and four per cent lower than last year’s levels, respectively. Prices continue to ease across nearly alldistricts and remain well below previous highs.
Courtesy of CREB - By Geoff Geddes
Despite the Edmonton-Calgary rivalry, there’s at least one import from our northern neighbour that appears to be a welcome addition to the local real estate market: backyard suites.
“We are originally from Edmonton, but we were receiving inquiries from Calgary and finally decided that the time was right to expand,” said Ashley Salvador, president & co-founder of Calgary Backyard Suites.
The non-profit organization promotes the development of backyard suites through educational workshops, where people learn the rules, regulations, financing options and design considerations for these suites.
“It’s a great place to get all the resources you need to proceed with building your own suite,” said Salvador. “We even hold tours, so people can get a firsthand look at what a backyard suite is all about and start to imagine what theirs will look like.”
The organization also does some advocacy work, promoting policies that will aid backyard suite construction and reduce barriers to their creation.
“Connecting with a builder is critical, as there are intricacies around things like hookups and utilities that are specific to backyard suites.” – Ashley Salvador, Calgary Backyard Suites
For those new to the phenomenon, a backyard suite is a house of approximately 500 square feet located in the backyard. They are typically placed above the garage, but some suites are built as standalone structures.
“These suites play an important role in helping cities add density to existing neighbourhoods and build up their communities,” said Salvador.
“They can provide affordable rental housing in areas where the cost of buying a home is prohibitive. From a fiscal perspective, backyard suites are beneficial for cities, given the high cost of expanding outwards and serving far-off neighbourhoods with roads, sewers and such.”
Though backyard suites are relatively small, interested homeowners should keep in mind that they still represent a significant investment.
“The suites start at around $160,000, so be sure you have the capacity to finance them and speak to an experienced mortgage broker up front,” said Salvador. “As well, understand the constraints of your property. Can it accommodate a backyard suite? What design is most appropriate for your situation?”
A good first step is attending a Calgary Backyard Suites workshop, where representatives from the City of Calgary talk about the rules and regulations that apply to this unique housing option. The organization also brings in current suite owners who have been through the process and can offer advice.
“Another excellent opportunity for new buyers is our builder and designer showcase,” said Salvador.
“Connecting with a builder is critical, as there are intricacies around things like hookups and utilities that are specific to backyard suites. Talking to an expert who knows about these aspects can help you stay within budget and get exactly what you’re looking for.”
Fire isn’t the sole cause of death at home.
Carbon monoxide (CO) inhalation leads to sickness
and often, fatal consequences. You cannot see, smell or taste
this gas so a detector is the only way to know if there is too
much inside your home.
According to Statistics Canada, there were
related to CO poisoning in Canada between 2002 and 2016.
75% of which occurred as a result of CO poisoning
originating in the home.
NOTE: While this article talks about communities south of Calgary, there are many very beautiful communities north of Calgary as well.
Courtesy of CREB. By Andrea Cox
With its roots in southern Alberta’s agriculture and ranching history, Claresholm is a town with plenty of old-world charm. It’s also a place that embraces a strong sense of connection and community – just ask anyone who lives there.
“So many things make it special. It’s really more than a community – it’s a family here,” said Santanna Thom, a lifelong Claresholm resident and REALTOR® with Century 21 Foothills Real Estate.
Thom lives, works and plays in the town of just under 4,000 people. She and her husband are raising two youngsters, aged three and six, and the small-town setting is perfect for them.
“The best thing about raising kids in Claresholm is you don’t have to worry,” she said. “We are one big family, where everyone watches out for everyone’s kids. They can play alone in the front yard – you don’t have to be the helicopter parent.”
Claresholm is part of the Municipal District (MD) of Willow Creek, which also includes the towns of Nanton and Stavely.
Collectively, this area is known for its sense of history, as well as its lively arts scene, laden with music festivals, eclectic antique stores and galleries.
“Although there is a lot of hesitation in general in real estate because of the upcoming federal election, the market here is only going to get stronger.” – Santanna Thom, Claresholm resident and REALTOR®
Local amenities include an Agriplex with Friday night rodeos for the kids, weekly pond hockey tournaments, a strong football league, two 18-hole golf courses (one in Nanton and one in Claresholm), several aging-in-place retirement facilities, a small airport, and a 24-hour urgent care hospital, drawing many families to the area from big cities across Canada.
There has also been a push to draw new industries to the area – Custom Cannabis recently joined Claresholm’s business roster – and lands are being annexed in anticipation of growth.
“There is a really wide variety of people buying – first-time buyers, move-up and those thinking of retiring soon,” said Thom. “They are from all over – Calgary, Airdrie, Lethbridge, Vancouver, Ontario.”
She says homes in the area provide good value. Most are older, single-family bungalows on generous lots. Some small acreages are available, and in the town of Claresholm, there are newer bungalow options on two-acre parcels of land near the Bridges at Claresholm Golf Course.
Thom says it’s difficult to nail down accurate price data since the MD of Willow Creek falls under two different real estate boards, Calgary and Lethbridge.
“But you definitely can get into an older bungalow here starting in the $220,000 to $275,000 range,” she said, adding that now is a great time to buy.
“Although there is a lot of hesitation in general in real estate because of the upcoming federal election, the market here is only going to get stronger. Plus, we have amazing banking systems in Claresholm that work really hard for people, so all our clients can stay local when it comes to financing.”
Courtesy of CREB. By Tyler Difley - Sep 13, 2019
While waterfront real estate will always come at a premium, it’s possible to enjoy life near the river in several Calgary communities at a much more reasonable price. Here’s a selection of Calgary riverside communities with a year-to-date (YTD) benchmark price lower than the YTD citywide benchmark price of $423,300.
Residential benchmark price (YTD): $316,775
Residential average price (YTD): $410,889
New listings (YTD): 191
Number of residential sales (YTD): 100
Residential benchmark price (YTD): $352,550
Residential average price (YTD): $391,175
New listings (YTD): 52
Number of residential sales (YTD): 26
Residential benchmark price (YTD): $402,075
Residential average price (YTD): $410,013
New listings (YTD): 132
Number of residential sales (YTD): 40
Residential benchmark price (YTD): $309,313
Residential average price (YTD): $291,468
New listings (YTD): 67
Number of residential sales (YTD): 22
Downtown West End
Residential benchmark price (YTD): $408,300
Residential average price (YTD): $338,226
New listings (YTD): 103
Number of residential sales (YTD): 38
Residential benchmark price (YTD): $296,725
Residential average price (YTD): $335,795
New listings (YTD): 63
Number of residential sales (YTD): 33
Downtown East Village
Residential benchmark price (YTD): $370,263
Residential average price (YTD): $351,926
New listings (YTD): 124
Number of residential sales (YTD): 32
Residential benchmark price (YTD): $319,588
Residential average price (YTD): $310,715
New listings (YTD): 87
Number of residential sales (YTD): 58
Residential benchmark price (YTD): $390,113
Residential average price (YTD): $414,832
New listings (YTD): 125
Number of residential sales (YTD): 74
Residential benchmark price (YTD): $384,313
Residential average price (YTD): $397,738
New listings (YTD): 57
Number of residential sales (YTD): 45
Residential benchmark price (YTD): $246,725
Residential average price (YTD): $316,831
New listings (YTD): 640
Number of residential sales (YTD): 260
Residential benchmark price (YTD): $395,350
Residential average price (YTD): $510,131
New listings (YTD): 52
Number of residential sales (YTD): 18
Residential benchmark price (YTD): $234,075
Residential average price (YTD): $343,554
New listings (YTD): 135
Number of residential sales (YTD): 76
Residential benchmark price (YTD): $382,188
Residential average price (YTD): $438,563
New listings (YTD): 55
Number of residential sales (YTD): 24
Residential benchmark price (YTD): $287,138
Residential average price (YTD): $530,829
New listings (YTD): 31
Number of residential sales (YTD): 12
Residential benchmark price (YTD): $347,913
Residential average price (YTD): $367,518
New listings (YTD): 115
Number of residential sales (YTD): 39
SOURCE: CREB®. All stats are accurate through August 2019.
Wow! The Alberta Real Estate Association has developed a realy good site where you can go and see the real estate statistics from all around Alberta. View differnt types of stats, compare different parts of Alberta and a host of other interesting stats. If you are wonderign how your area is doing compared to another, this is the place!
Check it out. This is really well done. Click HERE to access this great resource.
Courtesy of CREB
City of Calgary, September 3, 2019
Increased sales and easing new listings reduced housing inventories in August. Sales were primarily driven by homes priced below $500,000.
“Employment numbers have been improving, but mostly in industries that are traditionally lower paid,” said CREB® chief economist Ann-Marie Lurie. “This is contributing to the shift that we are seeing in the housing market, with growth being limited to product priced below $500,000.”
Rising sales for homes priced under $500,000 offset sales declines in the higher price ranges. This caused August sales to improve by six per cent compared to last year.
Sales activity improved for all product types. The growth was largest for apartment-style and attached properties.
Attached sales increased for the sixth consecutive month compared to the previous year. This is also the only property type with year-to-date sales higher than last year’s levels.
New listings continued to ease this month, which caused inventory to decline. This is helping the market shift toward more balanced conditions.
The amount of downward pressure on prices is also easing. At $426,000, the unadjusted citywide benchmark price this month remained comparable to last month, but 2.6 per cent lower than last year’s levels.
Despite improving sales and reductions in inventory, housing market recovery will take time. Inventory levels remain elevated and sales activity is still well below historical norms. The market continues to favour the buyer, with over four months of supply.
•Year-to-date detached sales remain just below last year’s levels, but sales improved in the South and North West districts this month.
•Citywide growth has been driven by homes priced under $500,000. Meanwhile, easing sales and elevated inventories among homes priced above $500,000 have increased the months of supply, pushing it further into buyers’ market territory.
•Benchmark prices in August ranged from a year-over-year decline of over five per cent in the South district to a decline of nearly one per cent in the South East.
•For the second month in a row, sales activity improved for apartment-style homes, but these gains were met with a rise in new listings. This prevented any significant adjustments to inventory levels and kept the months of supply elevated.
•Sales activity remains just below last year’s levels. On average, the amount of inventory in the market this year has eased compared to last year.
•Citywide benchmark prices in August eased compared to last year, but the East, South East and North East districts recorded modest gains. Despite those gains, prices remain well below 2014 highs.
•For the sixth consecutive month, year-over-year attached sales improved in the city. This has resulted in year-to-date sales of 2,665 units, nearly a five per cent increase compared to the previous year. At the same time, new listings continue to ease, causing further reductions in inventory.
•The months of supply have moved from over six months at this time last year to under five months in August.
•These improvements have supported some monthly gains in benchmark prices, but August benchmark prices remain 2.6 per cent below last year’s levels.
You can download the complete statistics package HERE.
Are you considering a place in the Arizona sun? Or another U.S. destination?
Give me a call! (403) 253-7326
Estates At Lone Mountain
Single Family Homes - United States - Arizona
Location: 5910 East Little Wells Pass, Cave Creek, AZ, United States
Prices starting from: USD 502,990
The Estates at Lone Mountain is where desert life blooms. Community parks, ball fields and playgrounds, basketball courts, ramadas and desert gardens neatly complement beautiful new single-family homes. All are laid out across more than 600 acres (243 hectacres) of the Sonoran Desert and its striking beauty. Lone Mountain also offers an opportunity to be close to highly acclaimed shopping, schools and recreation areas.
- Green areas
- Common areas
Think green amid beautiful desert terrain — as in more than 600 acres of the Sonoran Desert, including a greenbelt area. Then think “active” amenities — as in courts for sports, a hiking trail, a playground and a picnic area.
Homes range in size from 261 to 337 square meters, and they offer many of Lennar’s most popular features: Lennar’s Future Proof Home, Next Gen℠ - The Home Within a Home® and Lennar’s Everything's Included®. Lennar’s Future Proof Home is all about home automation and home entertainment, ensuring quality and convenience for years ahead. Next Gen℠ contains a separate suite with private living space — its own bedroom, bathroom, living room and kitchen. Lennar’s Everything's Included® is an exclusive offering from the builder, delivering thousands of dollars in extras simply included with each home, offering great value and the latest in luxury, technology and efficiency. Among the items throughout the home: granite kitchen countertops, GE® slate appliances, maple raised panel bathroom cabinets and executive height in all bathrooms, tile roof, recessed and energy efficient lighting, and much more.
Click HERE for more information.
If you are tired of the rat race of loading the RV, fighting traffic, paying high fuel costs, leaving two days before the weekend to get a spot, fighting traffic again, unloading and paying storage costs…then perhaps it’s time to consider an alternative.
Have you ever considered owning your own “get away”? Or your “get away” today that could become your future retirement home? If so, you should give me a call and come for a look around Gleniffer Lake Resort & Country Club.
Click HERE to see a few pictures from around the resort on the August long weekend.
Gleniffer Lake Resort & Country Club has it all. A great location, between Calgary & Edmonton (southwest of Red Deer), properties to fit any budget - from RV lots to Park Models to full homes with basements and garages.
Some of the features of this great place are:
- A beautiful, clean clear lake
- Challenging 9-hole golf course (plus a 9-hole executive course) with Pro Shop
- Beach & Marina
- 13,000 sq. ft. clubhouse with fitness room, games room, licenced restaurant & lounge
- 3 swimming pools (1 year-round indoor with hot tub and 2 outdoor)
- Tennis courts, pickleball, basketball, beach volleyball
- Year-round water, sewer and power make this a 4-season resort
- Gated community is resident owned!
- And, most importantly a wonderful community atmosphere. All ages.
All this just an hour and half from Calgary, two hours from Edmonton. If any of this sounds like something you might like to see…give me a call. (403) 253-7326. Prepare to be amazed!
Courtesy of CREB
City of Calgary, August 1, 2019 – For the fourth consecutive month, inventories in the market declined compared
to last year. This is due to the combination of improving sales and a decline in new listings.
The market continues to favour the buyer, but a continuation in supply reduction compared to sales is needed to
support more balanced conditions.
“We are starting to see reductions in supply across the resale, rental and new-home markets,” said CREB® chief
economist Ann-Marie Lurie.
“This adjustment in supply to the lower levels of demand will support more balanced conditions. It is starting to
support more stability in prices. If this continues, the housing market should be better positioned for recovery as
we move into 2020.”
Year-to-date sales activity remains just below last year’s levels and well below longer-term averages. However, the
reduction in inventory has caused the months of supply in July to ease to 4.5 months, a significant improvement
from the 5.5 months recorded last year.
With less oversupply in the market, prices are showing some signs of stability on a monthly basis. This is causing
the rate of price decline to ease on a year-over-year basis. Overall, year-to-date benchmark prices remain over four
per cent below last year’s levels.
• Sales activity in July was slightly higher than last year’s levels, but it was not enough to offset earlier declines, as year-to-date sales remain just below last year’s levels. Despite overall declines, trends vary significantly by price range. Year-to-date sales for product priced below $500,000 have improved by 11 per cent compared to last year, while sales over $500,000 have declined by nearly 16 per cent.
• New listings continue to ease for detached product, reducing inventory across most price ranges. This is also starting to result in year-over-year declines in the months of supply for all prices ranges except homes over $1 million.
• Adjustments in sales and inventories also vary significantly by district. Year-to-date sales have declined across all districts except the North West and South districts. Easing inventories have not occurred across all districts, with year-over-year July inventory gains occurring in both the City Centre and West districts.
• Buyers’ market conditions persist, with detached benchmark prices at $488,400 in July. This is over three per cent lower than last year’s levels. Price declines range from a high of 5.7 per cent in the South district to a low of 1.4 per cent in the North East district.
• Despite improvement in July, year-to-date sales for apartment condominiums eased by over four per cent and remain well below longer-term averages.
• Available rental supply and ample selection in the new-home sector have impacted sales in the resale market. However, inventories continue to adjust, reducing the oversupply in this sector.
• With conditions favouring the buyer, prices continue to edge down. However, year-to-date benchmark price declines are not occurring across all districts, with modest gains occurring in the North East district.
• The attached sector is the only sector with recorded growth in year-to-date sales, up nearly four per cent. The affordable nature of this product, relative to detached, has likely supported some of these gains.
• The number of new listings continues to ease. This is causing inventory declines and reductions in oversupply. Like the other sectors, this segment continues to favour the buyer, preventing any significant changes in prices.
• Both row and semi-detached prices remain over three per cent lower than last year’s levels and well below historical highs. Attached price declines have been the highest in the City Centre district at over five per cent.
You can download the complete statistics package by clicking HERE.
Courtesy of CREB -
Experts say you should buy a home with your head and not your heart, but it’s easy to get caught up in the excitement when you find a home that seems perfect for you.
That’s why a home inspection is a crucial step. It can uncover problems that might require walking away from a potential purchase, or at least mean reassessing your offer.
According to Jared McIntyre, a home inspector with Canadian Property Inspections Ltd. and REALTOR® with Redline Real Estate Group, these are five red flags a home inspection might uncover:
Since the foundation is literally what holds up a house, McIntyre says this is an enormous potential red flag. Settling of a foundation is one kind of problem, but another is underground water seepage. Both can threaten the structure of the home.
“It might be an extra cost up front, but it’s well worth the knowledge that the house is fine structurally and is safe.” – Jared McIntyre, home inspector & REALTOR®
Structural walls removed
McIntyre says it’s quite common for people wanting a more open concept in their older home to just start removing walls or support posts themselves.
He says if this is not done properly, with the expertise of an engineer, you can compromise the structure of the entire home. Warnings signs can include cracks in ceilings or walls.
If a home needs a new roof, “it’s an expensive thing to do, and if the people who are selling are not willing to negotiate on it that can obviously compromise the sale of a house,” said McIntyre. He adds if the roof structure also needs repairs, the job could become even more expensive.
Water stains on ceilings can be a warning sign that the roof has leaked for quite some time.
Electrical, heating and plumbing
McIntyre says this is an area where home inspectors sometimes find do-it-yourself nightmares that can cause serious damage or even injury.
“We’ve walked into a house and opened up electrical panels that we actually have to condemn, and say ‘sorry, but we’re turning off power to this section of the house,’ ” he said.
Raccoons or mice making themselves at home in an attic space might seem more comical than serious, but McIntyre says they can do a lot of damage.
He says mice like to burrow through attic insulation and will chew through whatever gets in their way, including electrical wiring.
Overall McIntyre says a knowledgeable homebuyer looking to repair and then flip a home might find some issues less daunting than a first-time homebuyer, but a home inspection is still a smart investment.
“It might be an extra cost up front, but it’s well worth the knowledge that the house is fine structurally and is safe,” he said.
Courtesy of CREB
City of Calgary, July 2, 2019 – New listings coming onto the market continued to decline in June, which is helping to reduce the oversupply of homes in Calgary.
Year-over-year, new listings saw a decrease of nearly 19 per cent. Sales activity slowed this month compared to last year by six per cent, but the pullback in new listings was enough to cause inventories to fall by 15 per cent compared to last year’s elevated levels.
“So far, the housing market has generally behaved as expected this year. Sales activity remains just below last year’s levels, prices have eased and supply is starting to adjust to the lower level of sales,” said CREB® chief economist Ann-Marie Lurie.
“However, it is mostly product priced under $500,000 that is trending towards more balanced conditions.”
While the market still favours the buyer –with 4.2 months of supply –the amount of oversupply has eased and is slowing the decline in prices. As of June, the benchmark price in the city was $425,700, nearly four per cent below last year’s levels and comparable to unadjusted prices recorded last month.
- Detached sales in June declined by nine per cent compared to last year, causing year-to-date sales to ease by nearly three per cent. The decline in sales was mostly driven by homes priced above $500,000.
- Detached homes priced under $500,000 have recorded improvements in sales and oversupply reductions. The tightening in the lower end of the market will likely start to support price growth in this sector of the market.
- Despite city wide year-to-date sales declines, activity improved in both the South and North West districts of the city. Sales did ease across other districts, but in some of the most affordable districts (North East and East) supply-to-demand ratios are improving compared to last year. This is pushing those markets toward more balanced conditions.
- Despite slower sales activity, the amount of inventory declined by nearly 18 per cent. The reduction in inventories occurred throughout all districts.
- Prices have remained relatively stable over the past few months, with some modest monthly improvements. However, the oversupply scenario has left prices nearly four per cent below last year’s levels.
- Apartment condominium sales eased in June, causing year-to-date sales to total 1,292 units. This is over seven per cent below last year’s levels. Over the same time frame, new listings eased by over 15 per cent, helping reduce some of the resale inventory in the market.
- Resale inventory levels have declined, but the months of supply continue to remain elevated at 6.8 months. Combined with elevated inventories in the competing rental and new-home markets, this continues to weigh on resale pricing.
- June’s benchmark price was $250,200, three per cent below last year’s levels. This is resulting in a total price adjustment of over 17 per cent since 2014.
- Unlike other property types, sales activity for attached product continued to improve in June. Year-to-date sales total 1,955 units, nearly three per cent above last year’s levels. Improvements were driven mostly by growth in demand for semi-detached product. Attached sales improved across all districts except the North West and West.
- New listings have eased compared to last year, which is starting to reduce oversupply in the market. Like all other sectors, theattached market remains oversupplied and this is impacting prices.
- June’s benchmark prices were $399,700 for semi-detached and $286,300 for row product. Respectively, this represents year-over-year declines of 3.3 and 5.4 per cent.
Download the complete statistics package HERE
Courtesy of CREB
Real estate fraud and scams are rare, but often receive an outsized amount of media attention.
Former Real Estate Council of Alberta investigator, and current supervisor of training and compliance with CREB®, Ryan DeLuca says it’s far more likely day-to-day real estate transactional details – without the benefit of advice, research and direction from licensed professionals – will trip people up.
However, here are some of the potential, albeit rare, issues to avoid and how to spot them:
DeLuca describes this as the only case of fraud where a homeowner is totally oblivious to what’s happening – until the bank comes looking for its money or the new “buyer” shows up. The scammer, often through identity theft, gets an additional mortgage on the home, or sells it. Homeowners should get title insurance or check their land title documents regularly through Service Alberta.
Straw buyer fraud
In this scam, you are offered money for your name on a mortgage because the “real” buyer – maybe someone new to the country – is unable to get a mortgage. You’re told the title will eventually be transferred, only it never happens, and you end up on the hook for money borrowed.
People in financial distress are most likely to get caught up in real estate scams, due to a tendency to look for an easy fix and overlook major red flags. In this scam, someone offers to buy your property for a small amount of money and rent back the home until you can “catch up.” The rent’s high, you will never “catch up” and the property eventually gets sold from under you.
Property investment seminars/courses
Offered by unlicensed professionals, these courses often promise the secrets to buying and flipping properties for millions of dollars.
“They make it sound simple,” said DeLuca. “The seminars are free, but then they sell you books and paid seminars.”
Usually U.S.-based, these seminars don’t speak to Canadian or Alberta laws and regulations. “There is nothing wrong with attending for general information, but unless you have a background in contract law and real estate, you can get into a lot of financial and legal trouble [following their advice],” said DeLuca.
In this scam, a condo owner rents to a tenant who, instead of living in the unit, uses it for short-term rentals, breaking municipal bylaws and possibly damaging the condo in the process. In a similar scenario, people sometimes rent units from services like Airbnb or VRBO only to find the posting was created by scammers, not the unit’s owner.
Because relevant legislation and bylaws are constantly changing, DeLuca says doing your research, reading all contracts and seeking the help of a licensed professional – whether it’s a REALTOR®, lawyer, mortgage broker, reputable lender or property manager – are the best ways to avoid becoming a victim of any real estate scam.
“Find someone who will act in your best interests,” he said.
City of Calgary, June 3, 2019 – Sales growth in May was met with a decline in new listings. This combination eased the pressure on inventory levels, which finished the month at 7,467 units, a decline of 12 per cent compared to last year.
Improving sales relative to inventory levels caused the months of supply to ease to just under four months. While still oversupplied, this is an improvement from the five months of supply recorded last May.
Citywide sales in May totalled 1,921 units, 11 per cent higher than last year’s levels. However, sales remain 10 per cent below longer-term trends. This sales growth was primarily driven by homes prices under $500,000.
“While sales activity remains low based on historical activity for May, the easing prices have brought some people back to market, while also preventing some others from listing their homes,” said CREB® chief economist Ann-Marie Lurie.
“This has started to push the market towards more balanced conditions. If this trend continues, it could limit some of the downward pressure on prices.”
Citywide benchmark prices totalled $423,100 in May. Prices have shown some signs of improvement month-over-month, but remain four per cent lower than 2018 levels.
• Detached sales in May totalled 1,182 units. This is a 12 per cent increase over last year, but still 13 per cent below long-termaverages. The improvement in sales was driven primarily by gains in homes priced under $500,000.
• Sales activity increased across most districts in May. However, year-to-dates sales have only increased in the East, South and North East districts of the city. Citywide sales remain one per cent lower than last year’s levels.
• New listings in May pulled back significantly from previous year’s levels. Combined with an improvement in sales, this resulted in inventories declining from 4,504 units last May to 3,921 units this month. This is the first time since May 2017 that year-over-year inventories declined.
• Easing inventory and improving sales caused months of supply to ease to 3.3 months. This is still elevated compared to historical levels, but represents an improvement compared to levels from the past year.
• Prices have remained relatively stable over the past few months, with some modest monthly improvements. However, the oversupply scenario has left prices four per cent lower than last year and seven per cent lower than 2014 highs.
• The improvement in monthly sales was not enough to offset previous declines. Year-to-date apartment sales sit at 1,030 units. This is seven per cent lower than last year and 28 per cent lower than longer-term averages. Easing sales were met with fewer new listings, reducing the market inventory. This pushed months of supply to just over five months.
• If the reduction in oversupply continues, it will eventually help limit price declines. However, this market remains oversupplied and prices continue to edge down.
• May benchmark prices totalled $246,900, 0.6 per cent lower than last month and nearly three per cent lower than last year’s levels. This is resulting in a total price adjustment of over 17 per cent since 2014.
•Attached sales activity continue to improve in May. Year-to-date sales improved by two per cent, making this the only sector to record a year-to-date improvement. Improvements occurred throughout most districts of the city, apart from the City Centre, North West and West districts.
•New listings have also pulled back relative to sales. This is causing inventories to ease compared to last year and months ofsupply to trend down.
•Benchmark prices remain five per cent lower than last year’s levels, but have seen some modest gains on a month-to-month basis. Despite some signs of improvement, prices remain 10 per cent lower than 2014 highs.
To download the complete statistics package, click HERE.