Real Estate Blog - August, 2024

The Impact of Interest Rates on Mortgages

When it comes to buying a home or refinancing a mortgage, interest rates play a crucial role in determining the overall cost of your loan. Understanding how these rates affect your mortgage can help you make informed financial decisions and potentially save you a significant amount of money. Here’s a breakdown of how interest rates impact mortgages and what you should consider in today’s market.

First, you need to be aware of how interest rates affect your mortgage on a base level. The most direct impact of interest rates on your mortgage is on your monthly payments. A lower interest rate generally means lower monthly payments, which can make a mortgage more affordable. Over the life of the loan, a lower interest rate results in less total interest…

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Fighting the Back to School Blues

Back to School season is exciting, but it can also be daunting. It is a lot all at once: a new schedule, new people, new plans, new places and so much more. It is total stimulus overload, and with the season fast-approaching, you may already be feeling the pinch of it. 

There are a number of helpful strategies to keep you refreshed and excited for this new adventure, instead of overwhelmed and drained. Each person is different and will benefit from different practices, but here are five suggestions of things to do to fight the back to school blues:

1). Take a nap. Bring back the glory days and enjoy a nap when you get home from school or work. Even thirty minutes can be just the boost you need. Naps will make you feel more alert and productive.

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Negotiating Multiple Offers

Calgary is in the midst of an incredibly hot real estate market right now! We are currently in a sellers market, and things are getting competitive out there. Many home sellers are navigating multiple offers on their homes within the first few days of their property being listed. While things are beginning to cool off as more inventory enters the market, here are some things to consider for those you selling who are faced with multiple offers to choose from: 

If you are 100% flexible, take the highest bid. However, since most sellers don't have that luxury, we don't recommend biting at the highest offer. Carefully consider any contingencies. What is your potential buyer expecting from the property? Some may include in their offer wanting items you…

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Hidden Swimming Holes in Calgary

Calgary may not be known for its beaches, but it still has gorgeous places to take a dip on hot summer days! Here are some of the hidden gem swimming holes around the city for you to check out:

• Griffith Woods: Nestled in Discovery Ridge, Griffith Woods has gorgeous trails and some perfect places for taking a dip. You can find access to the river, and ponds. This area is frequented by bears and other wildlife, so be safe! Also be mindful that it backs onto Tsuutina Nation, so be respectful of all posted signage. 
• Sikome Lake: This lake is man-made and a sandy paradise! It costs a small fee for access, but the sandy beaches make it worth it. The water is not too deep, so it tends to be warmer than a dip in the river. This is a great place for…

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Home Care to Tackle Before Fall

Fall is right around the corner! The trees are beginning to turn golden, the air cooling at night. Stores have already begun to put out fall decor, and back to school is right around the corner. As we transition seasons, its important to make sure our homes are just as prepared as we are.

Here are some fall home care items to tackle before summer slips away:

• Check Your Detectors: "With furnaces turned on, the windows closed and portable heaters humming along, fall is a great time to make sure your smoke and CO detectors are working. Check batteries and expiration dates – smoke detectors are typically good for 10 years, and CO detectors last for about six years" (Family Handyman).
• Clean Your Gutters: "Your roof's drainage system annually…

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August 2024 Events Things to Do in YYC

It is going to be a fantastic final month to the summer; make sure to enjoy it! Here are some of the events happening around the city: July 26-August 11 Summer Olympics
August 1-4 Calgary International Blues Festival
August 1-18 Immersive Disney Animation at Stampede Park
August 2-10 Calgary Fringe Theatre Festival
August 3 Tour De Bowness Race & Street Festival
August 5 Heritage Day
August 6 Garden Tour of Lougheed House & Beaulieu Gardens
August 7 Southcentre Mall Turns 50!
August 9 Calgary Dragon Boat Festival
August 9 Wild After Hours: Corks for Conservation
August 10-11 Granary Road Family Fun Fair
August 10 YYC Fan Fair
August 11 Marda Gras Street Festival
August 14-18 2024 Rogers Charity Classic
August 16-18 Expo Latino Festival
August 17-18 Summer…

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July 2024 Calgary Real Estate Market Statistics

Every month the Calgary Real Estate Board releases a report detailing what has been happening in the real estate market. These reports provide really valuable information to sellers, buyers, and investors alike. Real estate requires strategic decision making, so staying informed is crucial to ensure you are making the best moves possible.

Here are the highlights from The The Calgary Real Estate Board's market report for July 2024, which you can read in full by clicking here:

• "With 2,380 sales and 3,604 new listings, the sales-to-new listings ratio fell to 66 per cent, supporting a gain in inventory" (The Calgary Real Estate Board).
• "The gain in inventory combined with slower sales caused the months of supply to rise to 1.8 months, still…

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