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Calgary Real Estate Blog

Calgary Real Estate Statistics - December 2017

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Calgary Real Estate Statistics: December 2017

CLICK to view: Calgary real estate map

  • Days on Market: 58 (Up by 3.4% from a year ago)
  • Average Price: $451,587 (Down by 8.7% from a year ago)
  • Active Listings: 4,314 (Up by 14.6% from a year ago)
  • Sold Listings: 1,006 (Up by 8.3% from a year ago)
  • New Listings: 1,222 (Up by 23.2% from a year ago)
  • Sold to List Price Ratio: 97.07% (Up by 0.74% from a year ago)
  • Sold Above Asking Price: 84 (Up by 26.2% from a year ago)
  • Months of Inventory: 4.29 (Up by 5.8% from a year ago)
  • Odds of Selling: 23.3% (Down by 1.4% from a year ago)

Calgary Housing Prices

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How to Search for a Home Online?

Before the internet… There was a time when the only way to search for homes was with a real estate agent. REALTORS® were viewed upon as the gatekeepers of real estate listings. It’s a strong contrast to how real estate listings are free to view by everyone today. Back in the days, they were printed in phone book style binders and were literarily kept under lock.

Real estate agents only used to have printed copies of listings which were forbidden to be removed from their offices. Other than driving up and down the block scouting for sale signs, the only other options available for a home buyer was to find a local real estate agent. If a buyer wanted to view all the available homes that matched their search criteria, they would have had to talk to

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The Importance of a Mortgage Pre-approval Letter Are you considering going through the mortgage pre-approval process before you begin your search for a home? Great idea! A couple of the most common situations you may avoid by making this smart decision include:

  • Being turned down by an agent or seller to look at a home. This isn’t because they don’t want to help but simply because they won’t know if you can afford the home or are serious about buying.
  • Falling in love with a home that you cannot afford. What if you found a place that was perfect for you, but it was way outside of your budget? This could lead to a lot of stress, frustration, and disappointment for you, the seller, and your agent.

Obtaining a mortgage pre-approval letter makes sense when you consider the stress that can be

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reasons why you need a mortgage pre-approvalWhen making financial decisions that will heavily impact your life, such as buying a home, it’s important to be informed before jumping into a decision and making sure ahead of time that you are ready to buy a home.

This means asking questions and using all resources available to understand more about the commitment of purchasing a property. To gain this understanding, the first (and arguably the most important) step is to determine how you will pay for it. While paying all cash is ideal because it eliminates the need to pay interest, this isn’t something most people can do. This is when the majority of home buyers turn to obtaining a mortgage so they can secure the funds they need to purchase a home.

Fortunately, as a buyer, you have many mortgage

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How Much Real Estate Can You Afford?One of the first things that you should be doing when buying a home is figuring out how much you can comfortably afford without putting any stress on your monthly budget. Once you have settled into your new home it's going to be rather difficult and costly to change your mind about the home you have just bought. By reading this article, you will be able to figure out how much real estate you can truly afford to buy. 

Questions to keep in mind when setting a real estate budget:

  • Is it going to change my lifestyle?
  • Can I live within my means?
  • What is the maximum mortgage payment that I feel comfortable with?
  • Have I created a monthly budget?
  • Is it going to cause stress or peace in my life?

It’s fairly easy and straightforward to

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Final Walkthrough in Real Estate

When closing real estate transactions, sometimes an agreement on the price isn't the biggest obstacle for the buyer and seller to overcome. One oversight many buyers have is with the condition of the property, as some anticipate it to be different than what they see when they’ve taken possession. Unfortunately, this generally results in a dispute, although even in situations where concerns are valid, there’s not much can be done when the transaction has closed.

By becoming familiar with the Purchase Agreement, the buyer can better understand what these specific terms and conditions include. When an agent explains this to their clients, this can help avoid frustration for both parties upon Completion Day. To further explain the wording of this

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Top 10 Reasons Why a Home is Not Selling

Homeowners who are in the market to sell their home tend to face several challenges throughout the selling process. Many of these challenges are not in your control: unrealistic home buyers, local market conditions, low-ball offers, and more are just some examples.

However, there are also many things that are in your control. You may not know it, but there are factors that can also scare away potential buyers. Even the most minor details can scare away some buyers, while other factors are more significant. If you are having trouble selling your home, these are probably the top 10 things that might be scaring away potential buyers.

1. Asking Above Market Value

One of the biggest and most common mistakes in selling property is overpricing. An

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The idea of buying your first home can be incredibly exciting, especially considering the fact that your monthly payments will no longer be lost on rent. However, making this investment requires focus, dedication, and a willingness to learn what’s necessary to get through the buying process. With these qualities and an eagerness to be a responsible homeowner, you’ll be on your way to having a much smoother experience with real estate.

Ready to buy a home checklist

Whether you’re just beginning the buying process by searching for homes online or have gone through the steps to determine your budget, there are many more steps to take before you’ll be ready to make an offer. First, it’s important to recognize how emotionally and financially ready you really are. Is this just a

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How not to screw up a mortgage approval

mortgage approval in CalgaryHow to Prevent the Financing Blues?

Avoiding disappointment is always the best thing that you can do, but occasionally it does happen when some mortgage brokers are just utterly incapable of getting things done with the lender. Selecting a great mortgage broker is essential for getting the financing approved. Choosing to work with the wrong person can be detrimental. Let me explain…

Don’t tell this to anyone else, but just because the banks have the money that you need, sometimes they may try to make it sound like they get to do anything is not always the case. At the end of the day, banks still want your business.

So if the bank’s business also depends on securing the next mortgage, then it still didn’t make sense to me why would they be

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Things You Need to Know Before Moving to Canada & Buying Real Estate

In the recent weeks, there has been a lot of chatter about US Citizens wanting to move to Canada as a result of their presidential elections. I am quite certain that the expressed interest shown online is much greater than a number of people who are actually going to follow through. Setting all the hype aside, and for those who are actually very serious about finding out what it is like to buy real estate in Canada - below, you will find a general overview of the Canadian real estate system.

Please note that the following information is for information purposes only and it is not intended to serve as legal or tax advice.

Can Foreigners Buy Real Estate in Canada?

Buying real estate in Canada is fairly straightforward, however, a lot of

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