Calgary Real Estate Blog 
Calgary Housing Market in a Period of Correction - September 2010
Statistics released by the Calgary Real Estate Board indicates that home sales continued to trend lower in the month of August, 2010.
Sales of single family homes in Calgary have decreased by a 32 per cent over the same time a year ago in August. Condominium transactions have seen a decrease of 42 per cent compared to twelve months ago in the Calgary real estate market.
Diane Scott, president of the Calgary Real Estate Board has said that – “Calgary’s housing market has been undergoing a measured correction over the past 4 to 5 months. Sales are trending lower as a result of a decrease in first time home buyers entering the market and a decline in pent up demand following a strong post-recession recovery.
There has been much talk recently about the potential…
Calgary Farmer's Markets - Buy Local
At this time of year we turn our attention to getting the kids ready for school and preparing for the cooler months, and sometimes outdoor activities, like going to the Farmer's Market, fall by the wayside. Local farmers are celebrating a bountiful harvest this year and there is no shortage of great products being offered at the local markets, in and around Calgary. Not only are you getting fresh, good quality produce and baked goods, but when you buy their wares, you're supporting local food producers. Everybody wins..
Here is a handy list of some of the excellent farmer's markets in the area:
Hillhurst Sunnyside Farmer's Market
Location: Hillhurst Sunnyside Community Centre, 1320 5 Ave. NW
Season: June 2 to October 7 - Wednesdays from…
Bank of Canada Increases Rate
The Bank of Canada increased their key lending rate by 0.25 percent to 0.75 percent. Banks therefore are expected to raise their prime rates to 2.75%.
The Bank of Canada has emphasized in this announcement that global recovery is happening, but it is shaky and needs time to take hold. In Canada, domestic demand by consumers is high and jobs are on the rise but business and investment earnings have been slow to recover.
The Bank of Canada is now expecting a slower than projected recovery in Canada than announced in their April Report. Inflation is in line with their targets of 2% but they have extended expectations of a full recovery by two quarters due to current trends and performance.
First-time Homebuyers Retreat As Luxury Buyers Advance - July 2010
Statistics released by the Calgary Real Estate Board indicates home sales continued to show a marked year-over-year decline in June of 2010.
Sales of single family homes in Calgary have decreased by a 42 per cent over the same time a year ago in June. Condominium transactions have seen a decrease of 40 per cent compared to twelve months ago in the Calgary real estate market.
Diane Scott, president of the Calgary Real Estate Board has said that – “We are seeing continued moderation in Calgary’s home sales in the face of higher mortgage rates, increased inventory levels and a decreasing number of first-time homebuyers entering the market. Our sales trends in June reflect much of what we saw in May. Changes to mortgage rules meant a good portion of homebuyers…
Cohousing - It's Not What You Think
When you hear about communal or cohousing communities, do you automatically think of a commune inhabited by a bunch of pot smoking hippies wasting the days away while their bare bottomed kids play carefree in a field? Do you think of an anti-establishment community filled with citizens trying to avoid society at any cost? Well think again!
While there are still communes that resemble the stereotype mentioned above, there is a newer version of the cohousing concept that is becoming more and more popular. Residents of these communities are average work-a-day people who share a common desire to live a life that is centered on social interaction, diversity, and environmental sustainability.
The basic principle behind the cohousing, or intentional community…
Canadians Struggle With Housing Costs
Mortgage rates are climbing for Canadian home owners but experts say that we are very unlikely to have a foreclosure wave like the one that has been taking place in the United States.
Previous mortgage levels were low enough that many Canadians bought into a housing market that they can barely afford now; increased rates have resulted in many home owners paying more than 40% of their monthly income into keeping a roof over their heads, reducing the amount of money that they can spend on savings, health, and nutrition.
What has worked in the past to get more Canadians into home ownership—like low interest rates and small required down payments—has also worked to cause problems for many of those home owners now that interest rates have risen. Our modern…
Calgary Real Estate Market Starting to Shift - June 2010
Statistics released by the Calgary Real Estate Board indicates that the Calgary housing market showed a decline in May of 2010.
Sales of single family homes in Calgary have decreased by a 20 per cent over the same time a year ago in May. Condominium transactions have seen a decrease of 21 per cent compared to twelve months ago in the Calgary real estate market.
Diane Scott, president of the Calgary Real Estate Board has said that – “The first quarter of 2010 was exceptionally strong with our spring sales coming early in the wake of anticipated mortgage hikes. We believe there are a number of factors contributing to this marked slowdown including a declining number of first-time homebuyers in the market, a rise in monthly carrying costs as mortgage rates rise…
Evergreen Home for Sale - Calgary
715 Everridge Drive S.W., Calgary
$332,900
BEST PRICED house in the area! An excellent opportunity to own a beautiful house in an exciting community of Evergreen. perfect home for the first time buyer or empty nester. Lot's of natural light, spacious living room with east exposure. The kitchen and nook combination offers a great space to entertain with direct access to your maintenance free deck. Kitchen is upgraded with dark stained cabinets, black appliances, plenty of cupboards & counter space. Floor plan includes a 2 master bedrooms w/ their own ensuites and walk-in closets. Lot's of room in the back yard to park or to build an oversized garage. The unspoiled basement is ready for your ideas. Many great amenities nearby such as…
Variable Interest Rates are Heading Up - The first time in many years!
The Bank of Canada increased their key lending rate by 0.25 percent to 0.5 percent. This is the first time they raised rates in nearly 3 years. Banks therefore are expected to raise their prime rates to 2.50%.
The Bank of Canada's key lending rate held strong at 0.25% for 13 months, since April 2009.
The Bank of Canada increased their rate to re-establish normal functioning of the overnight market.
"The spillover into Canada from events in Europe has been limited to a modest fall in commodity prices and some tightening of financial conditions."
"Acitvity in Canada is unfolding largely as expected. The economy grew by a robust 6.1% in the first quarter, led by housing and consumer spending. Employment growth has resumed."
"CPI inflation has been in line…
Chestermere House For Sale
261 West Creek Springs, Chestermere
$424,900
Excellent opportunity to own a beautiful house in an exciting lake community of Chestermere. Located in a quiet cul-de-sac, this home has around 2,500 sq.ft. developed living space for your family to enjoy. You will love the pathways along the lake and creeks of this friendly neighbourhood. The master is up one flight over the garage to give some privacy, but still near the two main floor bedrooms. The main floor has a vaulted ceiling & lots of room with a formal dining and living room as well as a family room. The walkout basement is bright with full of sunshine and includes a large open rumpus room, a bedroom, spacious laundry room and a third bathroom plus a cozy fireplace. The balcony just off of…
