Real Estate Blog - Buying

August 2019 Statistics

The forecast is in! The Calgary Real Estate Board (CREB®) reports, “increased sales and easing new listings reduced housing inventories in August. Sales were primarily driven by homes priced below $500,000.” The sale of homes priced under $500,000 kept the market from suffering, even though higher price range homes didn’t experience as much activity.

CREB® chief economist Ann-Marie Lurie reports on the economy, “employment numbers have been improving, but mostly in industries that are traditionally lower paid. This is contributing to the shift that we are seeing in the housing market, with growth being limited to product priced below $500,000.” The jobs available are not ones that afford people the luxury of buying a home, but typically once these…

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Selling During A Slow Market

Summers around Calgary are a little slower. Instead of walking as quickly as possible through the snowy streets, people take their time to enjoy the smell of a freshly cut lawn and lilacs. Instead of hurrying home after work to hibernate, wings and drinks on the patio are on the itinerary. Instead of binging an entire season of something on Netflix in one sitting, people are getting on their feet and going on adventures. Another thing that has slowed down this summer? The real estate market.

Calgary has been staunchly in a buyer’s market for a number of months now. Inventory levels were high, without the sales to help balance out the market. This was caused by the economy taking a hit, which had the effect of preventing people from being able to buy…

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Your Open House Game Plan

Open Houses are constantly happening all over the city. There are so many ways you can find an open house to visit: you can ask your realtor to take you to them, check local ads and roadside signs for house showings, follow word of mouth recommendations, google it, etc. An Open House is a great opportunity to see what is on the market, whether you are thinking of buying or selling. Plus, it can be fun to peak inside other people's homes. 

When you go to an Open House, you need to come up with a clear game plan. Start by answering this simple question:

What do I hope to get out of this?

If you want to simply explore various properties for fun, that is completely fine! Make sure that when you do this you are considerate of the people who are…

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Why Now is A Great Time to Buy!!

I feel incredibly honoured to receive the news that I ranked #24 in all of RE/MAX Western Canada and #2 at the #1 RE/MAX Office Worldwide, RE/MAX Real Estate (Central) for sales volume in the month of March 2019. I couldn’t have done it without my amazing team, loyal clients, and my wonderful family and friends. Thank you from the bottom of my heart for your continued support!

Sincerely,

Ken Richter
RE/MAX Real Estate (Central)

It is starting to feel like spring in Calgary, Alberta; and not just because the snow is melting and the grass is turning green. It feels like spring because the real estate market is starting to see movement again, a sign that brighter days are on the horizon. Given the circumstances one thing is becoming…

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April 2019 Real Estate Statistics

It's that time of the year again... the Calgary Real Estate Board has released their latest market statistics summary. This one goes over everything that happened in the Calgary real estate market during this last month of March. Did St. Patrick's day bring the Calgary real estate market some good ol' Irish Luck? Read on to find out.

If this is your first time reading these stats, here is what you need to know: ever since the last oil crash that hit Alberta's economy hard, the Calgary real estate market has been struggling to recover. As people lost their jobs, couldn't find jobs, were forced to go further in debt and drained their savings, owning a home became a distant memory or a dream, but not a reality.

This had a severe impact on the…

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The Millennials Guide To Buying A Home

If you were born sometime between the late eighties to the year 2000, you are a millennial. While many people bemoan millennial's as out of touch and entitled, statistics prove otherwise.

According to these statistics, millennials are the generation most passionate about justice. They are at the forefront of charity and non-profit work. Millennials also are not as lazy as people make them out to be: the average millennial works 3 jobs at a time to support themselves. And while millennials do spend a significant amount of time staring at their smart phones, they are also developing incredible technological advances that will benefit society as a whole.

One thing many millennials are struggling with right now is the housing market. There is so much…

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Selling During A Buyer's Market

Calgary was established in 1875, garnering its name from the Isle of Gull in Scotland. Fun fact: loosely translated from the original Norse language, Calgary means 'cold garden.' For years people have flocked to our great city; this beautiful, cold garden; in search of something more. Calgary has always been viewed as a welcoming place for those seeking more opportunities for themselves and their families. Here at Team Ken Richter, we are proud to be Calgarians.

One of the biggest draws to this city has been the energy sector. Many jobs in the oil and gas industry are based in Calgary. If you ask any Calgarian, chances are someone in their immediate family works in the energy sector. Because of this great opportunity to find work in a booming field,…

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Getting The Most out of A Buyer's Market: Buyer's Edition

There is no doubt about it: Calgary is currently in a buyer's market.

What is a buyer's market? A Buyer's Market is when there are more units on the market than what are being sold; inventory is high, sales are low. This drives down prices on homes as seller's scramble to do whatever it takes for their home to stand out and sell, since during buyers markets homes end up sitting on the market for much longer than usual. Buyers simply have more options, which is great if you are planning to buy.

It may seem obvious, then, that as a buyer this is a fantastic time to enter the market. The reason why this has not been as simple as it seems is because of the new stress test put in place by the Bank of Canada to ensure all prospective buyers desiring a…

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After The Offer: Buying A Home

The process of buying a home can be long and complex. This is why we always recommend that you work with a licensed REALTOR®. No amount of googling can compete with a knowledgeable, experienced REALTOR® such as Ken Richter. With 30+ years of experience, Ken is fully equipped to help you find your dream home with little to no hassles. 

When it comes to buying a home, finding a property is the easy part. The Calgary real estate market is in a deep buyers market right now, giving you many options when it comes to finding the perfect home.  Whether you are on the hunt for a chic downtown condo, a detached home in the suburbs, a new infill in an established community, a luxury property or anything in between, Calgary has something for you. 

Once you have…

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Mortgage 101: Job History

Nowadays it is nearly impossible to purchase a home in Calgary, Alberta Canada without getting a mortgage. With homes as expensive as they are, it is extremely rare that a person is able to purchase a home upfront and avoid a 10-20 year mortgage. This is why when you are considering buying a property, it is important to set yourself up so that you qualify for a mortgage. After all, banks do not give out mortgages to just anyone.

There are a number of factors that go into qualifying for a mortgage, such as credit history. The most important one is annual income. Banks need to make sure that you will be earning enough money to pay back what you borrowed. While this factor is easy to overcome when you have had a steady job that you will continue to…

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