All Blog Entries by John Mayberry

There are currently 79 blog entries published by John Mayberry.

Enter to Win CIR REALTY's Ultimate Family Vacation Contest!

CIR REALTY's Ultimate Family Vacation ContestOur Brokerage CIR REALTY has just created another exciting contest for all of you! From now till May we will be drawing preliminary prizes which include family passes for FOUR to attractions such as The Calgary Zoo, Telus Spark, Cineplex Odeon & more

THE GRAND PRIZE: A family Trip for 4 to DISNEYLAND! (5 days, 4 nights, Park Passes, Accommodation at one of Disney's resorts AND Flights included).

Grand Prize draw will be held the first week of June 2014. We will be doing public announcements of who the winners are on our CIR Facebook Fanpage.

TO ENTER: - visits our contest website, http://www.cirrealty.ca/contest/cir-contest.cir in the field that asks "Where did you hear about this

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After the record breaking 4th quarter of 2012, you might expect the market to cool and surprisingly, it hasn't. In the first quarter 2013, there were 115 commercial property deals which is consistent with long term deal velocity.  The dollar amount of commercial real estate transactions however was down to 50% of the previous quarter. There were 17 $10 million plus deal in the 1st quarter. That is down from 29 deals in the 4th quarter of 2012.

Condo Apartment Sector Looks Hot
  The condo apartment sales trends are positive and more is happening. According the recent RealNet Commercial real estate report, the apartment market had almost 70 million in transactions compared to just $13 million in the 4th quarter of 2012.Calgary Condo Apartment Market   It was the…
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The community of Panorama Hills in the Northwest area of Calgary is a wonderful area to live. Shopping, schools, parks, recreation centres, access to major highways, and beautiful modern homes are just some of the features that make this community stand out. See homes for sale in Panorama Hills now.

The chart below displays sales stats for Panorama Hills during the last 13 months. As you can see, prices have really jumped. From April 2012 to last month, the average sales price is up about $89,000!  That's incredible, but then it is a popular place to call home. There were plenty of new listings last month. Take a look at the Panorama Hills MLS listings and see if any of them look good. Give me a call for a viewing: 403 921-7355.

Month
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Interest Rate Rumours

Just a fare warning to all; I heard from a couple really credible sources yesterday and today that there is a very good chance interest rates in Canada will be going up in the near future!

I know that the Bank of Canada did in fact leave it's benchmark interest rate unchanged for a 32nd month on Wednesday only two days ago, but I am just passing along what I have heard as it could potentially save you some coin in the future. As well the Bank of Canada has maintained its warning that it will eventually hike interest rates and Mark Carney has also repeatedly told Canadian households to start paying down their record levels of debt before interest rates move higher, which would increase the cost of servicing that debt. 

So for

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If you're wondering whether a move to Calgary is potentially the best choice you ever made, you'll be glad to hear most would agree with you. No matter where your from in the world, you'll appreciate the high quality of new and resale housing and the positive/stable employment picture.

The Alberta energy sector is still doing astonishingly well, so it is a good time to make the big move to Canada.

What makes Calgary such an exciting place to live? The quality of life in this city is very high compared to most Canadian cities. Many would claim that Vancouver is Canada's best city, but in most surveys, Calgary is very close behind and ranked as one of the world's most inviting/healthy places to live.

A low crime rate, lots of urban park space,

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The only thing hotter than condo apartments these days are condo townhouses. The market in Calgary region was up 27.24% from April 2012 to April 2013. The number of new listings shot up to 452 in April The average selling price in April was $337,118.

Condo townhouses are a popular choice for their convenience and sometimes for their location. The downside is the maintenance and condo fees, but as an alternative to a purchase of a single family home, they may be ideal. The average number of days townhouse condos are on the Calgary MLS® is 48, down from 53 days. Everything is selling faster in Calgary because of a shortage in supply in resale housing.

The average price for a townhouse condo in April 2013 was up 5%. There are almost 100 fewer

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Who Has the Best Mortgage Rates in Calgary?

Currently, it looks like Royal Bank overall has the best rates. It's a lot like the price of gas at the pumps, they're pretty well the same. I would also check with a Mortgage broker (tell them I said to take good care of you!) to see what kind of deals they can swing.  It's your hard earned money you're paying out, so get the best deal you can.

Fixed Rate 6 month 1 Year Closed 2 Year Closed 3 Year Closed 5 Year Closed 10 Year Closed 5 Year Closed Variable
RBC 4.0% 3.0% 3.04% 3.55% 5.14% 6.75% 3.0%
TD Bank 4.0% 3.0% 3.04% 3.55% 5.14% 6.75% 3.2%
Scotia 6.4% 3.75% 3.89% 3.99% 4.99% 6.29% 3.10%
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Posing as a real estate agent has to be considered a serious offense given the level of trust that homebuyers and home sellers have in our profession. Apparently, the courts have decided it's just a $15,000 offense. People really want to know that the person they're meeting and about to make a huge transaction with is not a con-artist.

The man, a businessman in Calgary who works out of his home in Southeast Calgary, tried to sell homes on websites. This guy actually rented a property in Woodbine without the bank even knowing about it.  He listed properties and advertised them at a price lower than what they were being sold for. The matter hasn't been taken up by the police as yet.

Real estate and mortgage crimes are a real problem and can be quite a

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Let's take a look at the stats from the last 13 months to see what's happened across Northwest Calgary.

If you look at April to April comparisons, you can see price is up about $34,000 and average days to sell is one full week less. That's significant enough right there. Inventory is way less during December yet prices don't seem to fall much during the winter. They were higher than during last April. Given this data, we might expect prices to jump considerably during May tend to be the peak time people want to buy and sell a home in Calgary.

Month Inventory Sales Added Avg Sales Median $ Avg DOM
April, 2012 1277 582 833 $475,719 $435,000 36
May, 2012 1431 627 1024 $502,892
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Calgary condo apartment sales rose an astonishing 22% from April this year compared to last April. Average prices rose 7.35% to $261,300.

What's behind the change this year? Price.  With average single family homes selling at an $452,900, many homebuyers are only able to afford a condo apartment.  Still others can't qualify for a mortgage of that size. With real estate investment cash flowing in from China and the Middle East, some of it is finding its way into the condo rental apartment market.

Source: sothebysrealty.ca via Sotheby's on Pinterest

 

Having someone else pay the mortgage is a pretty powerful benefit. Some investors buy up these properties in bulk.  Investing in Calgary real estate is a reasonably safe investment so

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Listing information last updated on July 29th, 2014 at 6:31am MDT.