Real Estate Blog - Real Estate

How To Be An Informed Buyer

The real estate market is incredibly complex, especially given the unstable conditions Calgary has been in for the last three years. This means that now, more than ever, you need to be an informed buyer. Being an informed buyer is not as easy as a quick google search and a list of must-haves. You need to be fully equipped to navigate the market. Here are a three ways you can be an informed buyer:

Know Exactly What You Want: Knowing exactly what you want in a future home is important. Make a list of must-haves, a list of want-to-haves and a list of not-required things in your future home. Having this list will help you more easily decipher what home is the best fit for you. Also decide what you want out of the area of the city you are in. Are nearby…

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Ken's Market Update

Hello Everyone,

I am very happy to relay good news, the Calgary real estate market is in a transition towards an improved market!

All of us here at Team Ken Richter are extremely busy facilitating sales in every price range despite the recent frigid winter temperatures. We are experiencing numerous weekly sales and even multiple offer situations! We haven’t experienced a heated market like this for some time. I don’t expect prices to increase anytime soon, but I believe prices will stabilize considering the market activity already this year. The low inventory of housing all across the city and the fact that mortgage interest rates remain at an all-time low are contributing to the recent wave of activity. This is very positive as our market has…

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February 2017 Housing Statistics

The detached sector of housing is what really drove the market this year. CREB® reports, “February sales totaled 1,342 units, which is still 19 per cent below long-term averages, but an improvement over the past two years.” One really wonderful thing that happened is that the average time a property is on the market dropped to 2.4 months, which has helped ease downward pressure on pricing. This means sellers are selling their homes faster and for better prices. The benchmark price for a property was $501,900 in February.

CREB® president David P. Brown notes, “there seems to be a new sense of optimism these days. Some sellers are feeling upbeat about the changing landscape and the improved chances of selling their home. Other people are looking at the…

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January 2017 Statistics

The market is in an interesting place right now. It continues to do better than this time last year, but it is still falling short of long term, ten year averages. This is leaving people in an awkward space where they should be encouraged, but also not comfortable. There will be lots of growth and changes yet.

CREB® chief economist Ann-Marie Lurie says, “while housing conditions continue to favour buyers, a slow transition toward more balanced conditions is helping to ease downward pressure on home prices. Conditions have improved over last year, but people need to remember that last year’s market was one of the weakest on record. Despite the appearance of a major shift in activity, the transition in the housing market is going to be a slow process.”

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Now is a Great Time To Buy!

If you are looking at entering the real estate market now is a great time to do it.

Right now the Calgary real estate market is perfectly poised for buyers. Interest rates are incredibly low. This means that paying off your property will be faster and cheaper. Inventory levels have dropped and prices have stabilized, giving you more property options, less competition and better prices. Given how up and down the market has been for the last two years as it has been in recovery mode, now is a great time to get locked in during ideal conditions.

Real estate has always been a great investment. Although at times the market has taken a hit, if you are willing to put in the time and the effort you can turn a great profit. This can be done with your…

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2017 CREB Forecast

2017 is going to be all about working towards market stability, something that has been shaky for the last two years. However, market stability will not reach all sectors of the housing market. CREB notes, “both detached and attached prices remain unchanged over 2016 levels, while apartment is forecasted to contract by another two per cent.” The stabilization of the housing market is going to be slow.

CREB chief economist Ann-Marie Lurie writes, “The transition in the housing market will be a slow process. We are entering the year with high unemployment rates and the possibility that job growth will not occur until the latter portion of 2017. These conditions will continue to weigh on housing demand, but supply is adjusting to weaker sales activity,…

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Calgary Home Renovation Show

The Calgary Renovation Show is hitting the BMO Centre this weekend from January 13th – January 15th. cNot sure what this show is? You make know it was the Calgary Home + Garden Show, because it was recently re-branded. Although the name may be different this year, the quality of the show will remain and–in many cases–exceed previous years.

There are going to be over 200 vendors at the show to share their ideas and innovations with you. Whether you are looking for some inspiration for your next home renovation or are wanting to find a contractor to work with, this show promises to shower you with new ideas, innovations and contacts.

Just like in previous years, there will be keynote speakers on the MainStage. Here is the lineup for this year:

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December 2016 Statistics

At the start of each new month we summarize the key points from the Calgary Real Estate Board’s (CREB) report on what happened in Calgary real estate the previous month.

Many people do not like reading about statistics. The numbers seem confusing and convoluted, sometimes manipulated to produce a specific result. They leave many people feeling frustrated and even more uneducated than they were to begin with. However, when it comes to CREB’s report, we guarantee credible, clear, helpful information.  CREB is a fantastic resource for buyers, sellers, investors, agents, etc.. If you are looking for information on the real estate market, they should be your #1 resource.

There is an important reason why we consistently relay the CREB report to you:…

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November 2016 Statistics

October was a strong month for the real estate market here in YYC. However, in November conditions turned back to previous trends. CREB® writes, “year- over-year monthly sales totalled 1,227 units, which is nearly three per cent lower than last year and 17 per cent below long-term averages.”

As we reported on back in November, major changes were made to Canada’s housing rules last month. The changes were aimed at helping Canadians keep from taking on larger mortgages than they could economically handle during a time when interest rates were incredibly low. For more information on this, check out an article on it HERE.

These changes may be helpful in the long run for people, but right now they are stopping many people from entering the market. This…

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October 2016 Statistics

This month the Calgary Real Estate Board (CREB®) had some good news for us: “For the first time in two years, sales activity in October resembled normal levels. City-wide sales totaled 1,644 units, which is an increase of nearly 16 per cent over last year.”

This is fantastic information for all of us who have been carefully watching the market as it has navigated turbulent economic conditions. We have always believed in Calgary’s ability to fight hard times with strength and perseverance. As Calgary’s economic confidence has begun to recover, Calgarians are starting to make confident real estate moves that are positively influencing the market.

The detached sector saw major sales in October. Sales are what have been preventing the market from making…

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