Real Estate Blog - real estate

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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Top Questions From First-Time Buyers

Congratulations! You are ready to buy your first home. This is a huge step and we are so excited for you. Real estate is a great investment in your future. Think of it this way: instead of paying someone else every month and having that money disappear forever, you are now putting money towards something that will almost guarantee you money back one day. Not only this, but you can paint the walls, hang up things and make the place fully and truly yours.

Being a first time buyer on the market is incredibly exciting, but it can also be a little daunting. Our goal in today’s blog post is to answer some commonly asked questions first time buyers have in the hopes that you will learn something and gain a little peace of mind. Remember that here at Team Ken…

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September Statistics

Hello, October! The season of pumpkins and plaid is upon us. The weather is swiftly turning crispy here in YYC, but we are very happy to report that it looks as though the snow will hold off a little longer. In the meantime, we have some very important statistics to go over with you.

The word ‘statistics’ carries many negative connotations. People immediately think of the class they failed freshmen year or the report their boss is always hounding them for. However, statistics are important–especially if you are in the real estate market hoping to sell or buy a home. Staying informed is the best way to make a wise decision you will not regret come November.

Without further ado, here are the statistics from what happened in the real estate market in…

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Renegotiating Your Lease

Many leases on suites across the city end this month, prompting listings to rise for rental units. This is a great time for this to be happening because Calgary is currently in a buyer’s market. This means that buyers (or renters, in this case) can be more selective since there is a lot on the market but not a lot of demand.

In this buyer’s market, renters have the upper hand. If you are renting and your lease ends soon, it is time to take a look at your lease and evaluate if you are happy with it remaining unchanged for another length of time. For those of you unhappy with the current agreement, now is your time to negotiate.

The first thing to consider before attempting a negotiation is that even though the market favours renters right now, there…

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August 2016 Statstics

Every month the Calgary Real Estate Board (CREB®) publishes a monthly housing summary. These summaries go over what happened in the real estate market, how trends shifted, what to expect moving forward, benchmark prices, information behind changes in the market, etc.. This is a fantastic resource that we highly recommend! The most successful kind of buyers and sellers are the kind of buyers and sellers that are informed.

Most recently CREB® divided their report into two parts: the Calgary statistics and the Calgary region statistics. In our monthly summaries of the CREB® report, we focus specifically on the Calgary statistics. However, if you are interested in knowing about Calgary and its neighbouring areas, check out the full Calgary region…

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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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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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Outdoor Deterioration

Even the best built home filled with the fanciest appliances will experience normal wear and tear as the years go on. How quickly this happens depends on a number of factors, such as materials, installation, climate, use, etc.. This is completely natural and should be expected. The problem is most homeowners do not expect it–or, they forget about it and then are hit with unexpected and bank account altering issues.

By taking preventative measures and really caring for every part of your home, you can make it last much longer without the hardship of replacing things. Here are some areas outside of the home with things you can do now to prevent damage to them:

Roof: Spring and summer are the perfect time to do roof maintenance since it is so nice…

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