Real Estate Blog - Real Estate

July 2016 Statistics

This year’s census data has shown a major decline in net migration. While families already in Calgary are growing, the number of people coming to Calgary from other places has decreased. This has affected the housing market by sales activity dropping.

CREB® chief economist Ann-Marie Lurie explains, “continued pullback of sales activity is a sign of economic conditions. The number of unemployed workers keeps rising and when you combine job losses with declining net migration, the result is going to be weaker housing demand.”

One thing that worked in favor of this was a decline in new listings. Less buying activity was matched with less inventory on the market, which significantly helped prevent pressure on benchmark prices. CREB® notes that the…

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Home Staging: Kitchen Edition

Kitchens are one of the most frequently used areas of the home, making it understandable that they often experience the most wear and tear. Kitchens are an area where dust and grime can build up quickly if left unattended, making them one area potential buyers will zero in on quickly to see what the level of cleanliness is in your home. When it comes to home staging, kitchens cannot go neglected.

Here are some easy ways to fix up your kitchen without having to completely remodel it. Doing this will be good for your wallet and good for your home, along with making it a much more aesthetically pleasing space for buyers.

1), Wipe down all surfaces and re-paint where needed. Using a simple mix of water and vinegar helps clean away dirt, stains and…

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June 2016 Statistics

The June statistics are in!

For those of you just joining us here at Team Ken Richter, welcome! Every month the Calgary Real Estate Board (CREB®) publishes a summary of what happened in the housing market during the previous month. This is a fantastic way for buyers, sellers, investors and renters to stay up to date on market conditions. By tracking trends you can make smarter real estate choices, and we are here to help.

So, what happened in June?

Home prices continued to slide downwards as a buyers market persisted. What is a buyer’s market, you ask? That is when there are high inventory levels with low prices. This kind of market gives buyers the advantage because they have more to choose from at a lower price.

The detached home sector was…

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Vacation Homes

The economy is slowly but surely beginning to recover. While some people have had to cut back on extra expenses, such as a home away from home for summer (and winter) vacations, others have been able to take advantage of the market conditions. With rent and housing prices dropping significantly to adjust to this high-inventory, low-purchase market, there are some great deals out there.

Whether you are looking to sign a long-term lease or buy, these beautiful areas of Canada are a great place to start looking for your dream vacation home. These destinations are full of things to do all year round, so choose today and secure a great getaway for this summer.

Whistler, British Columbia: If you’re looking for somewhere that serves as a year-rount tourist…

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May 2016 Statistics

In May inventory levels continued to rise as more homes were put on the market. Meanwhile, sales activity slowed to one-thousand nine-hundred twenty-three units being sold. CREB® explains this development in their monthly housing summary for May. An in-depth report with specific statistics can can be found at their website, www.creb.com, but here are some of the major highlights:

Why did the market play out the way it did in May?

“While recent oil price gains may have some feeling optimistic, weakness in the labour market continues to impact housing demand,” says CREB® chief economist Ann-Marie Lurie. “Job losses are spreading into other sectors, wages are declining and unemployment levels remain high. At the same time, we’re seeing housing supply…

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Getting A Mortgage With a Student Loan

University is over for students across the globe. Some will be resting over the summer break before hitting the books again in the fall while others have graduated and get to move on to new and exciting pursuits. Either way, students everywhere are desperate for a job.

Tuition is very expensive, averaging approximately $10,000 per year for classes alone. This number does not include living expenses, textbooks or transportation. This is why during the summer months, students work hard to save enough money to pay for their upcoming school year.

Despite this, even if a person works 40+ hours a week in the four months leading up to the new school year, many still do not have enough to cover tuition. This is why students turn to student loans. The…

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April Statistics

At the start of every month we go over what happened in the world of the Calgary real estate market in the previous month. This enables you as a buyer, seller, investor, renter, leaser, etc. to stay up to date on exactly what is happening.

Market conditions are constantly shifting and evolving. They provide crucial information regarding a sector that involves major financial decisions. Keep yourself informed so you can be educated and informed!

So, what did the market look like in April? We’re turning to the Calgary Real Estate Board (CREB®) to find out.

The market is finally starting to shift. Inventory remains high, but prices are starting to decline as sellers become more realistic about the market they are in. Prices have been slowly falling…

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2 Tips for Landlords

The Calgary real estate market has been suffering ever since the fall of oil last January. While the economy has been slowly regaining its footing, the housing market continues to be seriously affected. With so many job loses, people are leaving the city, leading to high inventory levels. These inventory levels have not significantly affected pricing of homes as stubborn sellers hold onto hope that the market will turn back in their favour. This leads to high prices and high vacancy rates.

These market conditions put landlords in a tough situation, as many are left with great properties that are going unrented. So, what can be done when vacancy rates continue to rise? There are two major things you need to do: you need to be tough on yourself and you…

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Hosting A Good Open House

Spring is here and with the budding trees comes the start of a busy open house season. With the weather so gorgeous it is the perfect opportunity for taking a lazy Saturday, getting a coffee and browsing through some of the beautiful properties on the market.

When you’re preparing to host your own open house, there is a lot you can do to make a good first impression. Today we go through how you can captivate each sense of potential buyers. Hosting an open house is more than having a property to offer, after all,

Sight: Captivate people’s sight by making a good first impression. Your front yard should be trimmed and taken care off, the sidewalk clean and the entryway free of clutter. The indoors should be just was well kept. Check out our past blog…

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March 2016 Statistics

April is here, much to the delight and surprise of many. It seems as though March flew by with the help of the beautiful weather and so many special events.

With the beginning of April comes the ability to see what happened in March as a whole. This is what CREB (the Calgary Real Estate Board) does: they look back on everything that happened in March, then summarize it and record the data so overall trends can be discovered. Every month we take the CREB summary and give you the highlights. If you want more detailed information, go to their website HERE. They are a fantastic resources for buyers, sellers, investors and anyone else wondering what is going on in the real estate market.

Without further ado, here are the CREB March housing summary…

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