Mortgage amortization periods will be reduced from 35 years to 30 years for CMHC insured mortgages. The maximum amount canadians can borrow to refinance their mortgages will be lowered from 85 per cent to 80 per cent the value of the home. CMHC will not cover mortgages over $1 million-which means buyers will need 20 per cent downpayment to get an uninsured mortgage. These changes take effect July 9, 2012.
Posts Tagged ‘Calgary real estate’
Understanding real estate market conditions
Monday, June 18th, 2012Buyer’s market? Seller’s market? Balanced market? This article identifies the impact of these market conditions on the sale of your home.
April housing starts the highest since 2008
Sunday, June 17th, 2012april 2012 dignaled the higest amount of housing starts in Calgary since March 2008, according to the Canada Mortgage and Housing Corporation (CMHC). Starts totalled 1711 in April of this year, more than doubling the 556 starts at the same time last year. March of 2008 saw a huge 3068 starts.
This is largely attributed to strong employment gains, rising migration and low mortgage rates. The decline in active listings in the competing resale market has also boosted demand for new homes.
To renovate or relocate?
Friday, June 15th, 2012That is the conundrum a new HGTC show aims to help homeowners solve. http://www.calgaryherald.com/life/renovate+relocate/6722905/story.html
Calgary leads in commerical real estate investment options
Wednesday, June 13th, 2012Calgary leads in commericial real estate investment – Calgary HeraldTotal returnd os 21.6 per cent in 2011
Housing Trends: MLS® Housing Price Index coming to Calgary
Monday, January 23rd, 2012The MLS® Housing Price Index (HPI) is coming to Calgary in February, as part of a nationwide rollout involving boards in Canada’s largest cities. It’s an exciting new tool that CREB® has developed in cooperation with four other boards and the Canadian Real Estate Association.
The average price in market can vary widely from month to month, depending on volume shifts in various price segments. Reporting the average price can sometimes falsely exaggerate trends, causing confusion with your clients.
The new Housing Price Index (HPI) uses a new standard that takes into consideration such items as lot size, age of building, number of rooms and many more factors. It’s a way of comparing apples to apples, much as the Consumer Price Index uses a standard basket of goods to determine cost of living.
What does this mean for you, the home owner? More comprehensive and more pure data than ever before – data you can use for understanding future price trends and estimating current market values.
What does this mean for the Corley Team? It will be an improvement to the statistics currently available to us, and we will continue to do what we have always done to value properties… by physically comparing comparable properties in person, rather than relying soley on statistics – allowing us to arrive at an honest opinion of value on your property.
The HPI is expected to become available early in February 2012.
Ten tips for selling your home in winter
Monday, January 16th, 2012What makes selling a home more stressful? Selling it in the middle of winter.
The lawn is brown, the weather is usually bad and, unlike the longer days of summer, you have less time to show it off during daylight hours.
But not everyone has the luxury of waiting until the traditional spring or summer home-buying season to plant that ‘for sale’ sign. And while it’s true that in most areas you’ll probably have fewer buyers during the winter, you will have less competition from other sellers.
The season makes staging – the concept of showing your house at its best – even more important. But be prepared to put a little effort into it. It is more difficult to make something look really appealing this time of year, but if you do it right, you can really make your house stand out. (more…)
Water use in the Home – How does your usage fare?
Tuesday, December 6th, 2011Calgary’s Best Christmas Light Displays!
Monday, December 5th, 2011Do you have so much holiday spirit that airplanes mistake your home for a landing strip?! If you or someone you know, love to light up the night with Christmas cheer, then enter your home in the network of light displays.
If you prefer to take a more passive approach and just enjoy everyone else’s lights, then you MUST check out this site. www.lightenupcalgary.com is dedicated to showcasing Calgary (and areas) best Christmas light display locations.
Moving?! Don’t rely on friends to hold furniture to the roof of your car!!!
Wednesday, August 10th, 2011As clever as we can be; some days I suppose we all fall short. This is a picture I took while on my way home the other day. It was taken with my phone and for obvious reasons I was keeping a relatively safe distance behind them. So after cropping it down, zooming in, and smudging out the license plate I thought I would share it with you! To be clear, the photo is of people moving their coffee table. It is on the roof of the car and there are 4 men inside the car each holding onto one of the table legs with an arm (including the driver). It is not secured to the vehicle at all except by the strength of their own grips. They did thoughtfully protect the roof of the car with a few hoodies underneath the table however. I don’t think I so say anything more about it!
Does everyone have a leg? Let's go!
So, instead… I will remind all of you that if you buy or sell your home through the CorleyTeam, we will provide you with the use of our Brokerage Moving Truck for FREE! Automatic transmission, moving blankets and bungees, easy access ramp…to make your move a breeze!