July 2010 
There are 2 blog entries for July 2010.
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…
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Last updated on: 2012-02-10 00:18:44
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- "Mike wrote: "Working with Joe was a real pleasure. Trying to find a home while resident in Halifax was a great challenge and stress for us. Joe called us in Halifax and listened to our needs and offered an extensive list of homes to view. When we arrived in Calgary for our house hunting visit, we worked him very hard, 23 viewings in one day, very long day!. Joe was patient and a well informed, supportive partner throughout the negotiations. He helped us find a lawyer and someone to review the condominium reports. Given we could not be in Calgary for closing, Joe videoed a final inspection for us, But the service did not end with the sale! Joe supplied referrals for painters and carpet cleaners, picked up our keys as we could not be there for closing"
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