If you are in the market for an acreage property, here a a few things to remember. The space is great but there are a couple of other things to keep in mind. Also you have to consider possible drawbacks associated with living further away from cities and suburban areas.
Here are 7 things to consider when buying a rural property, so you can weigh the costs and benefits of investing in the countryside before you make any commitments.
May 03, 2021
City of Calgary, May 3, 2021 –
There were 3,209 sales in April, a new record high for the month, as Calgary's housing market continues to bounce back from the pandemic lows recorded in 2020.
“Despite entering the third wave of COVID-19, there is more optimism of economic recovery when the economy re-opens,” said CREB® chief economist Ann-Marie Lurie.
“However, the recent surge in home sales could be a result of potential buyers wanting to enter the market before any further changes occur in prices, interest rates and lending policy. This could erode some of their purchasing power.”
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Ok - so we are still getting sprinklings of snow – but the temps are not too bad! Those of us who love the outdoors are wishing the bits of snow away, and can’t wait to venture into our gardens again. It’s the perfect time to work on your to-do list and enjoy that fresh spring air. Your garden is one of the first things a potential buyer sees of your property, so make the best first impression! Work on your plan So Zones 3 & 4 and consider what flowers and vegetables will thrive in your area. Most local nursery people are awesome for planting recommendations. Planning your garden is an important step. Try and strive for continuous bloom in the summer, mix perennial flowers with some annuals to keep color in your yard for longer. Height is always a good thing to plan for, tallest to the back – bit like the school class photo lol. Don’t let the taller plants block the sunlight from the smaller ones. Make sure you read the plant instructions. Tidy up Time After a hard winter with the harsher elements and damage left over from the colder part, begin by clearing your lawn and garden beds of broken branches, leaves, and other debris. The sooner you do this, the less chance there is of stepping on the growing plants and damaging them. If you have trees, trim any broken or dead branches off, and prune a tree to shape it. Where did I put my Garden Tools! Get your garden tools ready to go. First, pull out the tools that have been sitting around all winter, maybe they were in the shed. Wash them with soap and water, mineral spirits will keep the wood from splintering and make them last longer. Give The Soil Some TLC Rake over the soil, remove any weeds and add compost to the soil. A few weeks before planting, add the soil nutrients, to ensures a long and healthy life for your plants. Aireate the lawn, rake off the dead grass, and run around it with some Scotts turf builder! That will do for now! I need a cup of coffee! |
Today, Canada's banking regulator proposed raising the mortgage stress test benchmark for uninsured mortgages to 5.25% (or two percentage points above the mortgage contract rate, whichever is higher).
This change, proposed by the Office of the Superintendent of Financial Institutions (OSFI), only impacts homebuyers with a minimum 20% down payment, and would reduce their purchasing power by about 4-5%.
In comparison, the average income earner in Vancouver can now afford 54 square feet of housing, up from 40 square feet in 2006. In Calgary it is now nearly 154 square feet.
April 01, 2021
Persistent sellers’ market conditions contribute to price gains
City of Calgary, April 1, 2021 – The initial impact of COVID-19 on the housing market began last March.
One year later, it is not a surprise that March sales in 2021 were higher than in 2020. However, at 2,903 sales, this was the highest March total since 2007.
“Low lending rates and improved savings have supported sales activity,” said CREB® chief economist Ann-Marie Lurie.
“However, sales have been somewhat restricted by the lack of listings. This month there was a jump in new listings, contributing to the strong monthly sales.”
Inventory levels pushed above 5,400 units, but citywide months of supply fell below two months. This reflects the lowest months of supply for March since 2014 and these tight conditions have contributed to price gains.
There are lots of beautiful homes in Calgary around lakes. Check out this Creb report that gives you the stats, and search on our Lake Communities link below.
Considering Listing Your Calgary Home?
Here are 8 things to help you
1) Firstly study a marketing plan with us and assess whether it is a good time to sell. We are currently in a busy Sellers Market!. You will need to consider your finances, and factor in expenses including moving costs.
2) The second thing to do is to make sure that your property is ‘sale-ready’. Spring months are a good start, as we run into summer.
3) Carry out the necessary improvements and any upgrades, and create a home that is free of things a potential buyer will notice. You want your home to stand up against the competition.
4) Items left unfixed will for sure show up in a home inspection, and this can delay the sale or even cause it to fall through. So be ahead of the curve!
5) Clear all the clutter and sell or give to Goodwill any extra furniture to free up the space and make your home look more open and spacious. Your home must be ready for “Showtime”. Don’t leave this to the last minute.
6) It is well worth your time and effort to give your home a thorough clean, we would even suggest hiring the services of professional cleaners.
7) We consider “Mental Prep” to be a really important step before listing your home. Becoming emotionally detached from your home is essential for a successful sale. This will help you at every step of the selling process – right from setting the right price for the property (not basing it on sentimental value). Mental preparation will also help you understand and help to formulate and execute an effective marketing campaign with our team.
8) Before listing we can discuss home staging, we offer a complimentary one hour consultation with our stager, most times she will work with what you have, but you can discuss any finishing touches.
So arrange to meet us early in the process, that way we will discuss everything and explain our marketing plan. If this is done a few weeks before listing we will revisit the price later to see if we are still on the mark.
With the right strategies, selling your home can be a smooth process. Call us for our Marketing Consultaion and bespoke services - Direct call/text Stewart: 403.850.0669 . info@calgarydreamhomes.com
A closely watched Canadian home price index has taken off again following three consecutive months of slower price appreciation.
The latest reading of the Teranet-National Bank Home Price Index showed national home prices rose 0.5 percent in February from the month before, with four local markets — Halifax, Hamilton, Vancouver and Quebec City — posting particularly strong monthly gains.
While home prices continued to increase between November and January, their rate of growth was declining on a monthly basis. February’s index reading, published today, is higher than January’s 0.3 percent monthly gain, so this indicates that home price appreciation is accelerating again.
Other local markets that saw monthly gains in February were Montreal, Victoria, Calgary and Toronto, with each market recording a modest increase between 0.4 percent and 0.5 percent. Meanwhile, Winnipeg’s local index was flat, while Edmonton and Ottawa-Gatineau posted relatively small monthly declines.
It was a different story when looking at annual index price growth. All 11 local markets that make up the composite index recorded annual increases, with Ottawa-Gatineau, Halifax, Hamilton, Montreal and Toronto all recording double-digit gains between 10 percent and 19 percent.
You may be thinking, ‘All I’ve been reading for months is how home prices have been soaring. What was this slowdown they’re talking about?’ Teranet and National Bank use a different methodology than the Canadian Real Estate Association (CREA) and local real estate boards when compiling their home price index. Because of this, the index is known to lag sales and price activity that’s picked up quicker in the monthly reports published by the realtor boards.
Its repeat sales methodology works by tracking the price change between the two most recent sales of the same property. The index uses prices entered into public land registries in the Canadian markets it tracks. These often are slower to respond to market changes because sale price data is not added to land registries as quickly as it’s entered into the MLS systems used by realtor boards.
In commentary that accompanied the data, National Bank Economist Daren King noted that February’s index rise “is consistent with the increase in the number of home sales over the last several months” reported by CREA.
King said that the number of sales pairs used to compile the 11 local indexes was higher than a year ago for the sixth month in a row. Considering the Canadian housing market has been hotter than ever in early 2021, it’s likely that this will be captured by Teranet and National Bank in the months ahead with the index trending higher.
Al Nenshi
Quantus Mortgage Solutions
Cell: 403-540-3000
Email: alnenshi@telus.net
It is always just a bit more than how your home looks as potential buyers approach it. They take in the whole vision from the outside, the landscaping, home colour and driveway condition. Now we are in Spring take a look at these 6 projects that can jazz up your home!!.
1) The Front Door:
Big tip- if you are preparing to sell your home, powerwash the front door/entrance. There is nothing that puts a buyer off than looking at a front door, still covered in winter dust and grime.
2) Landscaping:
Make the landscaping as clean and tidy as possible, even though it is only spring! Start by mowing the lawn, and watering and feeding it. After our Calgary winter, clean up the flower beds as soon and as best as you can. Further into spring, do some pruning of your shrubs, and maybe planting nice bright flowers.
3) Touch-Ups:
Make sure that you check your home outside for peeling paint and paint dinks. If you have siding it can warp, but most times it is an easy fix. At the first sign of the mild weather, grab some sandpaper and put in some sweat equity by smoothing over peeling paint filling the odd crack. Once you have it prepared, apply primer and paint – job done.
4) Roofs & Gutters:
This area is a bit more complex and you may know a tradesman who can tackle it for you. Make sure your gutters don’t sag, they are easy to overlook or even ignore entirely. But it is worth that little bit extra, the buyer will see it is maintained.
5) Water:
Water will always take the path of least resistance, especially as the snow has melted after sitting on your roof for the whole winter. Gravity forces water to exploit the imperfections, especially water that has been sitting, which can lead it to invade your living quarters.
6) Fencing:
Your fence does more than just protect your lawn from the neighbor's dog. It impacts your home's curb appeal as much as your landscaping or exterior color scheme. Unless you plan to replace or remove your entire fence, doing some simple stuff, like adding a fresh coat of paint or wash it with a pressure washer. It can yield significant results in a relatively short period of time.
Last thing - take a moment and look at your home from the curb. Actually go outside and try to see it from the critical eye of a potential buyer. This should open your eyes to at least some of the obvious places to start your spring improvements. A little time, effort and a small amount of money can save you lots of stress and lead to a faster sale.
Remember: Never get into the mentality when trying to attract a potential buyer of leaving a job and thinking “they can do that” – a $300 project is seen in the eyes of a buyer as a $1,000 project!
The Bank of Canada delivered welcome news for variable-rate mortgage holders today when it stood by its expectation of no rate hikes until early 2023.
“We remain committed to holding the policy interest rate at the effective lower bound until economic slack is absorbed so that the 2 percent inflation target is sustainably achieved,” reads the BoC statement released following its rate decision. “In the Bank’s January projection, this does not happen until into 2023.”
City of Calgary, March 1, 2021 –
With gains in every price range, residential sales activity in February totalled 1,836.
This reflects the best February since 2014.
“Despite continued COVID-19 restrictions, housing activity continues to improve. Much of the strong sales activity is expected to be driven by exceptionally low mortgage rates,” said CREB® chief economist Ann-Marie Lurie.
“Confidence is also likely improving as vaccine rollouts are underway. Additionally, some of the worst fears concerning the energy sector are easing with recent gains in energy prices.”
1. THE CODE OF ETHICS
In Alberta every REALTOR® must adhere to a strict code of ethics, which is based on professionalism and protection of the public. Their first obligation is to you the client. And they can get into serious trouble if they miss direct their client.
2. YOUR EXPERT & EXPERIENCED GUIDE
The process of buying a Calgary home can be very complex and usually requires lots of forms, reports, disclosures, and other technical documents. A knowledgable trained professional with experience will help prepare the best deal, and avoid problems and delays.
3. OBJECTIVE INFORMATION AND HONEST OPINIONS
The Real Estate professional can provide local information on utilities, zoning, schools, and more. They also have objective information about any property. Their data can help you dig deeper into wether a property works for you. By understanding both your needs and your search area, they can also point out the best neighborhoods, from a resale point of view.
4. REAL TIME SEARCH TECHNOLOGY
Sometimes properties are available but not actively advertised. But an experienced Realtor can help you find opportunies not listed on an MLS home search, and avoid out of date listings
.
5. NEGOTIATION KNOWLEDGE & EXPERIENCE
There are many factors up for discussion to bring a deal together. An experienced Calgary Realtor will look at every angle from your perspective, including putting a purchase agreement together that allows enough time for you to complete inspections and all conditions,before you have to waiver on the purchase.
6. EXPERIENCE IN TODAYS MARKET
Most people buy only a few homes in their lifetime, usually with quite a few years in between each purchase. If you have done it before, laws and regulations change, and a good Realtor who has handled hundreds of
transactions over the course of their career, will steer you in the right direction.
7. YOUR HELP DURING EMOTIONAL MOMENTS
For most people, property represents the biggest purchase they will ever make. Having a concerned, but objective, third party helps you stay focused on the most important issues.
8. CHOOSING A GOOD REALTOR
A good realtor will be in contant contact with you, always return calls quick and answer all your questions. Remember, as a buyer you may not be paying commissions, but it is most important that you get really good advice. So take your time, list all your questions - then give me a call. 403-850-0669.
1) Firstly study a marketing plan with us and assess whether it is a good time to sell. You will need to consider your finances, and factor in expenses like moving costs.
2) The second thing to do is to make sure that your property is ‘sale-ready’. May & June are good months to start, as we run into summer.
3) Carry out the necessary improvements and any upgrades, and create a home that is free of things a potential buyer will notice. You want your home to stand up against the competition.
4) Items left unfixed will for sure show up in a home inspection, and this can delay the sale or even cause it to fall through. So be ahead of the curve!
5) Clear all the clutter and sell or give to Goodwill any extra furniture to free up the space and make your home look more open and spacious. Your home must be ready for “Showtime”. Don’t leave this to the last minute.
6) It is well worth your time and effort to give your home a thorough clean, we would even suggest hiring the services of professional cleaners.
7) We consider “Mental Prep” to be a really important step before listing your home. Becoming emotionally detached from your home is essential for a successful sale. This will help you at every step of the selling process – right from setting the right price for the property (not basing it on sentimental value). Mental preparation will also help you understand and help to formulate and execute an effective marketing campaign with our team.
8) Before listing we can discuss home staging, we offer a complimentary one hour consultation with our stager, most times she will work with what you have, but you can discuss any finishing touches.
So arrange to meet us early in the process, that way we will discuss everything and explain our marketing plan. If this is done a few weeks before listing we will revisit the price later to see if we are still on the mark.
With the right strategies and our selling your home can be a smooth process. Direct call/text : 403.850.0669 . info@calgarydreamhomes.com
All buyers fall into the different repair categories of your home. The majority of home buyers will be buyers that are families, couples, and people who know very little about making repairs or who want to move into a home that they know is in good condition. They do not want to worry about things going wrong and needing repairs done. They are only looking for homes that are in good to excellent condition and will pay a higher price for them. This is the majority of the real estate market, so if your home is being sold as is, you will have a smaller amount of buyers to choose from or be aware that you may get a low ball offer. Remember a $2000 repair to you is seen by a buyer as a $5000 repair.
This Type are the ones that are willing to fix small to medium repairs on the home. This is the type of buyer that is going to be looking for a fixer upper home. This could be someone that doesn’t have a lot of money, or maybe a new family that is buying their first home and they are willing to put in some extra work to make the home their Calgary Dream Home or First Home to Dream Home in fact. This category includes investors who are looking for a home with some minor repairs that can be a quick flip.
These are the ones who buy and repair homes for a living. This will usually be investors and also contractors. This class of people will not want to move into the home, and are not afraid to tackle some projects. In reality it is what these types of people do for a living so it is just in a days work for them. Because they do this for a living they can estimate the work quick and do it at the right price.
When you are trying to figure out the right price for your home you will want to look for the average sale price of the home in your market area and with us determine fair market value. Keep in mind that the fair market value is based on homes that are in good condition and don’t need a lot, or any, repairs. And we will take you to see your competitors that our current listings.
So, if you decide to sell a house as is, then you must lower the price of your home to below market value in order to get it sold. It cannot command the same price as comparable houses in good conditions since home buyers will always chose your neighbor’s home instead of yours because it is in better shape. And if you list higher than them, you will only end up selling there’s for them!
If you are not sure what repairs need to be done to your home it is a good idea to get a home inspector to come and look at what needs to be done before you list. You may also be able to get them to give you an idea of the cost of the repairs and what it will take to bring your home up to good saleable condition. We work with numerous Home Inspectors and pre Inspections are a better rate.
If you can afford the money and the time, it is good idea to have the house repaired and sell it for the most money.
403-850-0669 we are here to help!
There are times in our lives when the unexpected happens and we find it difficult to cope financially. It could be a job loss, an unexpected illness, the death of a loved one or separation and divorce. There may be enough money to get by for a few months, but soon families may find themselves overwhelmed as the bills start to mount and household finances begin to dwindle. If you’ve missed a mortgage payment, there are probably cash flow issues going on and you are likely juggling and deciding which debts to repay. While missing a mortgage payment is serious, you do have options.
When will the lender be concerned?
Whenever a borrower fails to meet his or her mortgage commitments as per the original mortgage lending contract, the lender will consider the borrower to be in default. It’s important to be proactive and speak to the lender to try to work with them. Lenders will first want to work with borrowers (and potentially the mortgage insurer, if there is one, to help bring the client current)
Consider the following steps:
Step 1: Contact your mortgage professional or lender immediately.
Homeowners may be reluctant to do this but the goal is to help you find a reasonable and affordable solution. There is a difference between a missed payment and a late payment. A missed payment is one that is completely missed and never made up. A late payment is one that’s not paid on time, but made up.
If there are a few missed mortgage payments, it might be difficult to get a bank loan to pay the arrears since it looks as if there might be an issue repaying the loan.
I can work with the lender to look at a number of different options including:
A longer amortization period to lower monthly payments
Switching from a variable rate to a fixed mortgage to provide a consistent payment plan you can budget for without fear of any future interest rate increase
Refinancing or second mortgage
There may be an option for a payment holiday or adding missed payments to the back of your current mortgage
Step 2: Be proactive about the next missed payment
If you’ve agreed to a temporary solution and you think you might miss another payment, make a call before you miss the payment. Pro-actively addressing this will give you more options than trying to deal with it when you have already missed payments.
Since every situation is unique, it’s important for us to talk as soon as problems start – it can be the difference between keeping a home and losing it.
Call me today.
Cathy McMurrich 403-568-8817
When sellers decide to list their home, or are in the process - the same questions often come up so here is a link back to our page with 10 Frequently asked seller questions. Or text /call us 403-850-0669 or e-mail us.
The kitchen of the future looks pretty incredible. Many of us might have wondered what the kitchen of the future would look like. The futuristic high-tech kitchen features are available to all of us today! If you haven’t put in a new kitchen for a while, you will be astonished to see the level technology has advanced to.
Often we struggle with kitchen taps due to messy hands. Well, with touch-less or one-touch kitchen taps, that will no longer be much of an issue – such taps are available from many major kitchen fixture manufacturers.
The latest kitchen cabinets available are a combination of eco-friendliness and cutting-edge technology. Features like blind corner accessories and rollout shelves, etc. The latest refrigerators are also very high-tech with features like high energy-efficiency, fridge and freezer sections.
The latest dishwashers on the market are also high-tech – not only do they have features like flexible loading and touchpad controls, but they are also extremely silent. Another interesting feature is that the appliance projects onto the floor the cycle time that is remaining.
One high-tech features you could look at for your kitchen is a steam oven – heat produced from boiling water is what is used to cook food in steam ovens producing very moist results full of flavour. These ovens also feature faster cooking times, and interiors which are easy to clean.
If you are looking at remodel of your current kitchen pay attention to the design before getting carried away by and the latest gadgets. High-tech features make your kitchen better, but make the design and functionality your first priority.
Let's discuss your next home sale or purchase, with no obligation.
Give me a call at 403-850-0669
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