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        <title>Calgary Real Estate Blog</title>
        <link>http://www.joesamson.com/blog/calgary-developments/</link>
        <description>Get the latest scoop on Calgary real estate happenings and market info. This is a great place to ask questions or offer your comments to other home buyers and sellers.</description>
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            <guid>http://www.joesamson.com/blog/vibrant-developments-in-calgarys-real-estate-market.html</guid>
            <link>http://www.joesamson.com/blog/vibrant-developments-in-calgarys-real-estate-market.html</link>
            <author>homes@joesamson.com (Joe Samson)</author>
            <title>Vibrant Developments in Calgary’s Real Estate Market</title>
            <description> <![CDATA[ April turned out to be a dynamic month for the housing market in Calgary. Compared to the previous years' figures, resale housing in Calgary experienced remarkable price growth, more than any other city in Canada. In relation to all other major markets in the country, it garnered the largest upsurge in sales.According to the monthly MLS report provided by the Canadian Real Estate Association (CREA), there was a 10.4% increase in sales in the city for the previous month, totaling 3,003 transactions all in all. The MLS Home Price Index, which tracks home price patterns through several major residential markets, reveals that Calgary witnessed a 6.9% increase in comparison to recent years.For the month of April, real estate sales have generally declined by 3.1% throughout the country, with 47,997 transactions and an average price hike of 2.2%. Though remaining quite stable, national sales have in fact decreased by 9-10% since mortgage regulations were amended the previous year. CREA's chief economist, Gregory Klump, points out that the figures for April are comparable to those of August 2012, and that consecutive months have only a difference of 2% between them.The average sale price in all of Canada is at $380,588, which shows a 1.3% upsurge. In addition, there were 95,065 new listings, indicating a 5.6% increase. Calgary’s housing market is on the RiseMeanwhile, the MLS sale price average for Calgary real estate went up to $429,717, with a 3.6% boost. New listings in also escalated by 6.7% to 4,664.It must also be noted that homes for sale in Alberta experienced a 3.6% hike, averaging at $378,892. There were 6,501 sales that indicate a growth of 5.0%, as well as 11,253 new listings that show a 5.0% increase.Economists are positive that the country's real estate market is steadily heading into better days. Based on current trends, a productive home-buying season can be expected this spring. Compared to recent years, the previous month saw a 15.0% decrease in residential property sales, while this month has experienced only a 3.0% decline. TD Economics' Sonya Gulati also concludes that the negative effects of last year's mortgage rule modifications were merely temporary. It's apparent that this year's prices are gradually climbing upward.With all the developments in the Canadian housing market, it's necessary to spell out the facts to rule out any unrealistic expectations. Despite the activity among Calgary home buyers, this doesn't mean that there will be a drastic upsurge that could revitalize the real estate market in the next few months. It must be noted that there are currently no significant economic factors that can restore the market to its former state. While we can certainly look forward to a fruitful home-buying season this spring, it won't be anything out of the ordinary.While it's easy to notice that that real estate prices have been increasing more sluggishly than ever since the 2009 economic recession, recent patterns have nonetheless been encouraging. BMO Capital Markets' chief economist, Douglas Porter emphasizes that prices are still on the rise, however slowly; in fact, they're rising even more rapidly than inflation rates. In addition, the average prices of homes for sale are at the highest they've ever been, so we have no reason to worry. ]]> </description>
            <pubDate>Thu, 16 May 2013 13:37:00 -0600</pubDate>
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            <guid>http://www.joesamson.com/blog/decline-in-resale-triggers-construction-boom.html</guid>
            <link>http://www.joesamson.com/blog/decline-in-resale-triggers-construction-boom.html</link>
            <author>homes@joesamson.com (Joe Samson)</author>
            <title>Decline in resale triggers construction boom</title>
            <description> <![CDATA[ A construction boom is on the rise again in Calgary this year, as resale figures and new spec homes continues to sell, according to CMHC. In the January-April period of 2013, the metropolitan area of Calgary saw an increase of 9 percent in construction of new single-family homes, as compared to the similar period of the previous year. According to the Canada Mortgage and Housing Corporation, the areas which saw the increase in construction include several satellite communities of Calgary such as Airdrie, Chestermere and Cochrane. In these areas, buyers are often looking for spec homes which are easier to move into as they are already built, rather than having to wait for other homes to be built on site.The numbers are also showing an increasing trend, with this year being built a number of 1,972 single-family homes, an increase of more than nine percent compared to the 1,816 built the previous year.According to Richard Cho, senior market analyst for CMHC, the inventory for homes is at a low point now, giving builders the opportunity for more construction and it seems to be fueling the boom. Also, steep declines in resale inventory have also fueled construction of new single-family homes.The figures show a decrease in resale listings for single-family homes in the Calgary area from 3,606 in 2012 to 3,134 units in 2013. That is a decrease of more than 13.9 percent compared to the previous year and it reflects only the first four months of both years, according to the Calgary Real Estate Board.Richard Cho further explains that the resale listings are also low, with new Calgary home buyers going to the new homes market, triggering construction of new housing units.Also supporting the idea is Canadian Home Builders Association Calgary Region's president, Charron Ungar. He says that the low numbers of already available homes on the market is stimulating new construction, further adding that sales of new homes are going very well so far this year, compared to 2012.Richard Cho points out other factors that caused the recent Calgary real estate boom, such as the new economy revival affecting the whole region. New jobs have been created in other sectors, resulting in more people moving in the area. That automatically translates in higher demand for new dwellings. Although there is a four month construction boom for the single-family homes, over the last month there is a small decline, when compared to the same month for 2012.The figures show that 545 homes were started to be built in April 2013, a decline of about five percent if compared to April 2012, when there were 560 homes started. Alberta's other major cities had also an increase in construction over the previous year for the same month. Edmonton had an increase of 13.5 percent, growing from 493 in April 2012 to 560 starts for April 2013. Also, when taking into account the last four months, in the Edmonton area home builders had also seen an increase of about seven percent from 2012 to 2013. Lethbridge is also not going unnoticed - They are  the new stars of the real estate market in Alberta for communities with a population of 50,000 to 100,000 people. The small city located in the Southern Alberta area had a total of 140 new single-family home starts for the January-April period of 2013, according to CMHC. This is almost the same as in 2012, when Lethbridge had a total of 139 new builds for the same period, according to the Canada Mortgage and Housing Corp.Coming in second place for is Red Deer, listed at 111 new builds for the first four months of 2013. ]]> </description>
            <pubDate>Tue, 14 May 2013 11:37:00 -0600</pubDate>
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            <guid>http://www.joesamson.com/blog/mckenzie-towne-gettin-jiggy-wit-it.html</guid>
            <link>http://www.joesamson.com/blog/mckenzie-towne-gettin-jiggy-wit-it.html</link>
            <author>homes@joesamson.com (Joe Samson)</author>
            <title>McKenzie Towne  - "Gettin' Jiggy Wit It"</title>
            <description> <![CDATA[ Though only about 12 years old, McKenzie Towne has become a well-known, bustling community  one that has quickly become prized as one of the better choices in Calgarys real estate market. The area is well known for being family friendly, with many of the younger residents enjoying the fun that comes with living in a nice, safe community. Despite having the typical suburban feel, McKenzie Towne also has an excellent main street style center on High Street, and residents say that they love the fact that everything is always so close by. High Street offers residents the amenities, local stores, and walkability that one would expect in a European town, all within Calgary. Many of the local events take place in McKenzie Towne Hall, where activities such as basketball games and yoga classes frequently occur. High Street also provides the ideal venue for McKenzie Towne's many community events. People from all around McKenzie Towne get to check out local wine tastings, local clothing sales, job fairs, and even toy drives during the Christmas season. McKenzie Towne also has a nice array of parks and open spaces, making it easy for residents to enjoy the great outdoors if they so choose. So far, McKenzie Towne has received a lot of recognition for being an excellently planned town. The Urban Land Institute named it one of the top 26 exceptionally planned communities in the world. Much of this can be accredited to the top notch maintenance and hard work of the McKenzie Towne Residents Association, a non-profit organization devoted to helping residents get the most out of their town's amenities. There are homes for sale in Calgary of every different kind, but few have the many perks of the single- family, condos, and estate homes that are offered in McKenzie Towne. In February of 2013 alone, over 20 homes were sold, with a sale price averaging approximately $400,000.&nbsp; This is a great bargain in Calgary, where the average home price for the month of February was around $450,000.  ]]> </description>
            <pubDate>Sat, 06 Apr 2013 09:36:45 -0600</pubDate>
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            <guid>http://www.joesamson.com/blog/wind-walk-tug-of-war-in-okotoks-alberta.html</guid>
            <link>http://www.joesamson.com/blog/wind-walk-tug-of-war-in-okotoks-alberta.html</link>
            <author>homes@joesamson.com (Joe Samson)</author>
            <title>Wind Walk Tug-of-War in Okotoks, Alberta</title>
            <description> <![CDATA[ 
The Town of Okotoks, Alberta and Municipal District of Foothills  are engaged in a political tug-of-war with  HGTV celebrity Mike Holmes stuck right in the middle. Wind Walk, an innovative 400-home project,  proposed back in 2008,  embraces environmentally friendly building practices that would set the standard for future developments of its kind. The premise is a sustainable, pedestrian-friendly community that utilizes geo-thermal technology, wind turbines, and solar panels. The best part, homes would be priced comparably to neighbouring communities.


Although this seems like the perfect marriage - cutting edge, environmentally-friendly technology and affordability; this project has met with considerable opposition by local residents. It's not the environmental aspect they are objecting to, but the population increase to their little town. Folks are concerned that this new development will destroy the existing small town atmosphere. 


There are many that feel  Okotoks ceased being a small town years ago. After the addition of big box stores, Costco, and large subdivisions  including Air Ranch, the master-planned community of Cimarron, and Crystal Ridge golf community, Okotoks has long since relinquished any small town designation. 


Current zoning in Okotoks is 32 lots per quarter section, but Wind Walk is slated for 400 homes per quarter section. According to recent Calgary Herald article, Mayor Bill Robertson, is quoted as describing Wind Walk as the &quot;right development in the  wrong place.&quot; He goes on to suggest that the project would probably get more support if it were constructed within town limits. 


Holmes maintains that the project has to be built in an outlying area that doesn't depend on water, sewage and other city services. Part of its design includes the recycling of groundwater for resident use. 


If the too sides can't come to an agreement soon, then a mediator will be assigned to speed up the process. 
 ]]> </description>
            <pubDate>Mon, 08 Nov 2010 11:22:50 -0700</pubDate>
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