5 Great Reasons to Consider Buying in Calgary Now!
Archive for the ‘Calgary’ Category
5 Great Reasons to Consider Buying Now!
Thursday, February 24th, 2011In repsonse to economic projections for Calgary, 2011 has already started with a big bang!
Friday, January 21st, 2011The exceptionally low real estate inventory combined with considerable buyer pent up demand has resulted in many new listings being sold within a short time, in some cases in multiple offers, however rarely exceeding list price. One example would be a property we had listed in Coventry Hills this month sold in 5 days at 98% of list price.
As a potential Seller we strongly recommend listing early in the year as there are many Buyers acitvely looking to buy with locked in low interest rates (that are the lowest in history and will ultimately only go up) as well as benefit from lower monthly payments with a 35 year amortization (that is reduced to a maximum 30 years as of March 18, 2011).
Buyer’s it is imprtant that you get your pre-qualifying in place for financing, as it is a competitve buying market and you will need to be prepared to write an offer as well priced properties are selling quickly.
If you are considering buying or selling, please call us directly at 403-796-4400 and we will show you how our superior Buyer and Seller programs will benefit you.
CREB 2011 Housing Forecast Looks Positive.
Wednesday, January 19th, 2011An improving economy with prospects of job groth and more people moving to the city as CREB forecasting an increase in Home and Condo Sales this year but the recovery will be slow.
CREB’s annual forecast released Tuesday, said Calgary’s housing inventory is expected to stabilize, resulting in an eventual return to a more balanced and sustainable market.
It forecasts single family home sales to increase by 19.9% this year to 14,500 transactions, while Condo sales will rise by 15.8 % to 6,000 transactions. Satellite communities and towns such as Okotoks, Cochrane, Airdrie, and Strathmore, CREB is forecasting a 13.5% increase to 4,000 transactions.
In 2010, single family home sales were the loweest in more than a decade, falling 16% from 2009.
New Mortgage Rules in effect as of March 18, 2011
Monday, January 17th, 2011
- Reduce the maximum amortization period to 30 years from 35 years for new government-backed insured mortgages with a loan to value ratio of more than 80 per cent. This will significatnly reduce the total interest payments Canadian families make on their mortgages, allowing Canadian families to build up equity in their homes more quickly, and help Canadians pay off their mortgages before they retire.
- Lower the maximum amount Canadians can borrow in refinancing their mortgages to 85% from 90% of the value of their homes. This will promote saving through home ownership and limit the repackaging of consumer debt into mortgages guaranteed by taxpayers.
- Withdraw government insurance backing on lines of credit secured by homes, such as home equity lines of credit, or HELOCs. This will ensure that risks associated with consumer debt products used to borrow funds unrelated to house purchases are managed by the financial institutions and not by borne by taxpayers.
These changes above will take effect March 18, 2011 with the exception of insured HELOC (bullet 3) will take effect April 18, 2011.
CorleyTeam Property Searches now optimized for your smart phone!
Friday, January 14th, 2011Enjoy a sleek mobile interface with an optimized mobile interface that gives you multiple search options, including community browsing and our brand new proximity search that uses your phones GPS coordinates to find homes for sale near your current location!
In addition, we’ve added a bookmarking system that lets you save your favourite listings to come back to later, and quick ‘touch to call’ buttons to make it even easier for you to connect with us on the go!
We are very excited about this and hope you all find it useful. Getting started could not be simpler. Simply open up your smart phone web browser and type in CorleyTeam.com. The site will detect you are on a mobile device and automatically display your new mobile-optimized site and give you the ability with the push of a button to save it as a button app on your phone.
Be Happy in 2011
Monday, January 10th, 2011People want to be happy, but they’re often resistant to making huge life changes to service that desire. If only there was a secret happiness formula!
Philanthropist and author Todd Patkin thinks he can help. He co-authored (with Dr. Howard Rankin) Finding Happiness: One Man’s Quest to Beat Depression and Anxiety and –Finally–Let the Sunshine in.
He offers 10 tips for a happier new year:
- If you don’t exercise, start. Exercise not only keeps you healthy and helps control weight, it’s a natural antidepressant.
- Be easier on yourself. You need to love and forgive yourself for your mistakes and shortcomings.
- Find some way this year to put your gifts and talents to work. “Playing to your strengths brings real happiness,” Patkin says.
- Build richer relationships with loved ones.
- Celebreate your spouse.
- Let the people you appreciate know it — not just close friends and family, but your co-workers or kids’ teachers.
- Forgive comeone who has wronged you. Forgiveness is, at its heart, an act of self-love — if you can’t let go of pain and anger, you can’t be happy.
- Become a giver. Happiness is not about how much you make; it’s about how much you share.
- Take a baby step toward finding some faith.
- Make 2011 a year of gratitude; work to be more appreciative in general.
Calgary 2010 Year End Real Estate Statistics
Friday, January 7th, 2011Home and condo sales in Calgary and area remained relatively unchanged in December 2010, indicating that a full-fledged recovery in the housing market has yet to take hold, according to figures released on Tuesday by the Calgary Real Estate Board (CREB®).
Looking back in 2010, total single family home sales in the city of Calgary were 12,095, a decline of about 16 per cent from 2009, when total single family sales were 14,440. 2010 markes the lowest bumber of single family home sales since 1995, when 9534 single family homes were sold.
“Undoubtedly housing markets in Alberta and Calgary underperformed in 2010, as sales recoveries did not materialize as forecasted. In many ways, re-sales in 2010 showed a repeat of 2008, with a short lived resurgence in the first few months, when condidence returned to the market,” says Diane Scott, president of CREB®.
Calgary employment and net-migration being slower to recover – and are key drivers of our housing market. The good news is we are now seeing marked improvements in investment and employment in the energy sector. This coupled by improved affordability and low interest rates, will eventually translate into a gradual recovery of our housing market as we move into 2011.
For more detailed stats about your specific community/home/condo feel free to contact us at info@corleyteam.com. Even if your not actively in the market, it is always great to know what is going on in your community!
Calgary Property Assessments were released Tuesday
Wednesday, January 5th, 2011Calgary property values are on the upswing following a decline last year, which means more than half of city homeowners can expect to pay higher rates based on new assessments released Tuesday.
Click here to to a search for your property’s value assessment.
About 55% of Calgary residential property owners will likely see a tax increase while 45% can expect a decrease, based on the annual assessment the city conducted.
The value average single family has jumped to $410,000 compared to $374,000 in 2010, while a condo unit goes up to $250,000, up from $233,000.
City assessor Stuart Dalgleish said 472,500 assessment notices have been mailed to owners of residences and businesses, which kicks off a two-month customer review period.
Connaught Parade of Homes Sunday, September 12th.
Wednesday, September 8th, 2010WELCOME TO MY CONNAUGHT PARADE OF CONDOS!
Are you looking for a highrise condo in Connaught, inner city Calgary upto $400,000? On Sunday Septmber 12th, 2010, I have arranged for a group of Realtors to jointly host several condo open houses from 2:00 – 4:30. You will have the oppertunity to view several condos upto $400,000 in this fabulous beltline community. There will be a map and a price list of of all participsting condos at each open house. The tour starts at #101 – 1107 – 15th Avenue SW. Call for details.
Tessa Corley-Rae
403.275.1010