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        <title>Calgary Real Estate Team Blog - Calgary Real Estate.Ca</title>
        <link>http://www.calgaryhomeboys.com/blog/</link>
        <description>Find out more about the best homes for sale in Calgary, along with news on mortgage rates, home buying trends and other news relevant to you in buying or selling your Calgary home or Condo.</description>
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            <guid>http://www.calgaryhomeboys.com/blog/cmhc-could-be-pulled-out-of-mortgage-insurance-business-flaherty-says.html</guid>
            <link>http://www.calgaryhomeboys.com/blog/cmhc-could-be-pulled-out-of-mortgage-insurance-business-flaherty-says.html</link>
            <author>johnmayberry@calgaryhomeboys.com (John Mayberry)</author>
            <title>CMHC could be pulled out of mortgage insurance business, Flaherty says</title>
            <description> <![CDATA[ 
Garry Marr Apr 27, 2012 – 6:33 PM ET


Finance Minister Jim Flaherty would consider taking Canada Mortgage Housing Corp. out of the mortgage default insurance business he told the National Post’s editorial board.


"Over time, I don’t think it’s essential that a government financial institution provide mortgage insurance in Canada. I think what’s key is that mortgage insurance is available at a reasonable cost in Canada. I think there is a role to regulate but whether we, the Canadian people, have to be the owners and shareholders of a financial institution to do this is a question. I don’t think it’s essential in the long run.





In a wide-ranging discussion on the housing market, he said he has no plans to increase CMHC’s current $600-billion loan limit and ruled out any possibility of regulating foreign real estate investment


 


"He offered no timetable on when the government could get out of mortgage default insurance business, just offering it up as a possibility. "We have a list of Crowns, Crown agencies that are being reviewed," said Mr. Flaherty.


In a wide-ranging discussion on the housing market, he said he has no plans to increase CMHC’s current $600-billion loan limit, ruled out any possibility of regulating foreign real estate investment and made it clear his focus is on the governance of Crown corp. which controls about 75% of the mortgage default insurance business in the country.


"For some time now I’ve had concerns about the large commercial role that CMHC now plays. CMHC has become a significant Canadian financial institution. As you know, historically it was created with a mandate post-war to advance housing in Canada. It’s become much more that.


"The finance minister moved this week to tighten control of CMHC, placing it under the authority of the country’s banking regulator, the Office of the Superintendent of Financial Institutions. Previously, it fell under the watch of the Department of Human Resources and Skills Development.


The shift comes with CMHC closing in on the $600-billion limit the government has for how much of its portfolio will be backstopped by the taxpayer. Three years ago it was $450-billion.


By law, consumers must buy mortgage default insurance if they have less than a 20% down payment on a home and are borrowing from a federally regulated financial institution.


But CMHC has not been insuring just those loans, it has agreed to step in and insure loans — with the premiums paid by financial institutions — for lower-ratio mortgages, or what is called "portfolio" or "bulk insurance.


"He said the head of OFSI will now have the power to look at the books of CMHC the way she looks at the books of other private financial institutions in Canada. Already, the government has placed the deputy minister of finance on the board of CMHC.


"We have quite a bit of information about what the banks do and don’t do. [Superintendent] Julie Dickson had to go to some of them in the last year and say ‘you must ensure that your board policies on residential lending mortgages are carried through," he said. "She’s quite a strict supervisor which is good for our country.


"OSFI has already been looking into CMHC and established one of the key issues for the organization is governance. "OFSI are certainly of the view there are necessary governance improvements we can do," said Mr. Flaherty.


He made it clear there are no plans to extend CMHC’s $600-billion limit. "For a while," said Mr. Flaherty, about how long the Crown corporation would have to exist under that limit. It was at $541-billion at the end of the third quarter of last year but business has slowed as the agency culled its portfolio business.


Mr. Flaherty’s own opinion on the housing market is that has been fuelled by low interest rates which he says he does not control. "Cheap money," he said, noting he did talk to the banks about being unhappy about their mortgage rate wars earlier this year which had reduced the rate on a five-year closed mortgage to below 3% — an all-time low.


As to whether the market has been in part fueled by foreign buyers, as many in the real estate industry have suggested, Mr. Flaherty said his government will not get involved in that aspect of the market. "No," he said, pausing to emphasize the point. "I don’t think there is [a role]. They key in housing from my point of view is to get the best information on housing."
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            <pubDate>Mon, 30 Apr 2012 14:56:05 -0600</pubDate>
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            <guid>http://www.calgaryhomeboys.com/blog/another-story-with-global-national.html</guid>
            <link>http://www.calgaryhomeboys.com/blog/another-story-with-global-national.html</link>
            <author>johnmayberry@calgaryhomeboys.com (John Mayberry)</author>
            <title>Another Story with Global National</title>
            <description> <![CDATA[ 
Here is another story we were asked to be a part of for Global National:


#video2#
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            <pubDate>Tue, 17 Apr 2012 15:57:23 -0600</pubDate>
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            <guid>http://www.calgaryhomeboys.com/blog/big-banks-drop-fixed-mortgage-rates.html</guid>
            <link>http://www.calgaryhomeboys.com/blog/big-banks-drop-fixed-mortgage-rates.html</link>
            <author>johnmayberry@calgaryhomeboys.com (John Mayberry)</author>
            <title>Big Banks Drop Fixed Mortgage Rates</title>
            <description> <![CDATA[ 
Here is the story from Global National we were asked to be a part of:


#video#
 ]]> </description>
            <pubDate>Tue, 17 Apr 2012 15:52:34 -0600</pubDate>
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            <guid>http://www.calgaryhomeboys.com/blog/is-this-the-time-to-buy-an-investment-property.html</guid>
            <link>http://www.calgaryhomeboys.com/blog/is-this-the-time-to-buy-an-investment-property.html</link>
            <author>johnmayberry@calgaryhomeboys.com (John Mayberry)</author>
            <title>Is this the time to buy an Investment property?</title>
            <description> <![CDATA[ 
Bob Alexander on Mon, Mar 19, 2012 wrote:


I have been a Mortgage Broker for over a decade and like all of us, went through the 2007 boom time in Calgary. One of the things that struck me looking back on the boom was how poorly a number of residential building projects were handled. Demand for housing in Calgary had been steadily building from 2002 to 2007. Several big housing projects were started in 2007 and when the boom ended, many of these projects were left incomplete. The builders involved misread the signs to start earlier so that when the boom hit, the project was finished and not just a hole in the ground.


The lesson from all this is that timing plays a big part in successful investment property purchasing. Don’t repeat the mistakes the big guys did in 2007 and miss time the opportunity.


I am suggesting that now may be the time to buy that investment property so that when the next increase in demand for housing hits, you will be ready.


 


CMHC in their Fall 2011 Rental Market Report for Calgary ( available for free on the CMHC website) found the following:


1) The apartment vacancy rate reached 1.9% in October 2011, down from 3.6% in October 2010


2) Average rent for a two bedroom apartment increased during the same period


3) Vacancy rate for townhouse rentals was 2% in 2011, down from 3.7% a year earlier


They go on to state that economic activity is expected to continue supporting rental demand in 2012. Investments in the energy sector are promoting economic growth in Calgary.


I have a number of friends that are quite senior in the Oil and Gas industry and they have all told me that they can’t hire enough skilled labour to meet the demand.


 


The Calgary Herald recently reported that “ Alberta auto sales were up on a year over year basis by 23.9%”. Increased auto sales are typically seen as a sign of increased optimism and higher consumer confidence.


Based on all of this, I feel that all the conditions are right to warrant buying an investment property. We are seeing increasing consumer confidence. We have labour moving to Alberta. House prices here are still reasonable compared to the prices in 2007 and mortgage interest rates are at historic lows.


One final thought – a number of the big residential projects that were stopped in 2007 have now been resumed with many nearing completion.


The expectation is that mortgage interest rates will start to climb in 2013.
 ]]> </description>
            <pubDate>Mon, 19 Mar 2012 15:47:07 -0600</pubDate>
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            <guid>http://www.calgaryhomeboys.com/blog/mls-housing-price-index-hpi-coming-to-calgary.html</guid>
            <link>http://www.calgaryhomeboys.com/blog/mls-housing-price-index-hpi-coming-to-calgary.html</link>
            <author>johnmayberry@calgaryhomeboys.com (John Mayberry)</author>
            <title>New MLS® Housing Price Index (HPI) Coming to Calgary</title>
            <description> <![CDATA[ 
The MLS® Housing Price Index (HPI) is coming to Calgary in February, as part of a nationwide rollout involving boards in Canada’s largest cities.


CREB® has been working with CREA and other boards and associations across Canada to develop the MLS® HPI. The MLS® HPI allow housing price trends to be tracked over time within local communities and national markets for different property types including:




one-storey single-family homes


two-storey single-family homes


townhouse/row units


apartment units




As you know, the average price in a market can vary widely from month to month, depending on volume shifts in various price segments. Reporting the average price can sometimes falsely exaggerate trends, causing a lot of confusion. This new monthly price measure will enable us to better determine real price changes.


The price % increase is often misinterpreted, and could be caused by a number of factors including a rise in luxury home sales. As average prices can be skewed by the composition of sales, it does not reflect price trends based on the type and features that a home provides.


The index will help as price trends will reflect changes caused by individual’s willingness to pay for home attributes.  


What does this mean?


By using MLS® HPI, we will have more comprehensive and purer data than ever before – data we can use for property comparisons, understanding future price trends and estimating current market values. Most importantly, it brings more value to our clients.


So how does it work?


The MLS® HPI uses a new standard that takes into consideration such items as lot size, age of building, number of rooms and many more factors. It’s a way of comparing apples to apples, much as the Consumer Price Index uses a standard basket of goods to determine cost of living. The MLS® HPI is calculated using a sophisticated statistical model that estimates home prices based on their quantitative and qualitative features, including:




Number of rooms above the basement level


Number of bathrooms and half-bathrooms


Square footage for main living and basement areas


Whether it has a fireplace and/or finished basement


Lot size


The age of the property


Parking


How the home is heated


Foundation, flooring, siding and roofing types


Whether the property has a waterfront or panoramic view


Whether the property has been sold previously


Proximity to shopping, schools, hospitals, police stations, churches, sports centres, golf courses, parks, and transportation (including train stations, airports etc.)




Upon valuating these features or attributes the index and the benchmark price are formulated.   MLS® HPI Benchmark A ‘benchmark home’ is one that shows a set of attributes typical to the area/sub-market where it is located. Since ‘typical’ homes are different from one area to the next, their descriptions differ between areas


The MLS® HPI is expected to become available early in February 2012.


Information courtesy of CREB®
 ]]> </description>
            <pubDate>Tue, 24 Jan 2012 12:52:58 -0700</pubDate>
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            <guid>http://www.calgaryhomeboys.com/blog/the-ultimate-hockey-experience-contest.html</guid>
            <link>http://www.calgaryhomeboys.com/blog/the-ultimate-hockey-experience-contest.html</link>
            <author>johnmayberry@calgaryhomeboys.com (John Mayberry)</author>
            <title>The Ultimate Hockey Experience Contest!</title>
            <description> <![CDATA[ 
The Ultimate Hockey Experience Contest


We here at CIR Realty have created an EXCITING contest for all of you out there reading this.To Enter all you have to do is simply visit our contest website: www.cirrealty.ca/contest and enter your contact information. Starting on December 20, 2011 (the day after MY birthday), we will be giving away 10 sets of Calgary Flames Tickets. The seats are valued at whopping $324 a set and are along the best in the Saddledome!! The games are in the months of December 2011-April 2012. We will be announcing the winners on our CIR Facebook Fanpage. However the BIG GRAND PRIZE is an ALL expense paid trip for TWO to watch the New York Rangers play against the Pittsburgh Penguins live in Madison Square Gardens on March 15, 2011 (*flight departs from Calgary*). WOW, now that is what I call a giveaway!!!!


Don't forget when it asks  "Where did you hear about this contest?" pick "CIR REALTOR" and then write in MY name (John Mayberry). Now go sign up and WIN something!!!





 


There will be random draws for both:


* 10 pairs of Flames tickets valued at $324 per pair. Excellent seats!


* 1 GRAND PRIZE for an all expense paid trip for two to fly to New York City and see the Pittsburg Penguins play against the New York Rangers live at Madison Square Garden!
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            <pubDate>Thu, 15 Dec 2011 21:49:51 -0700</pubDate>
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            <guid>http://www.calgaryhomeboys.com/blog/calgary-housing-market-improves-over-2010.html</guid>
            <link>http://www.calgaryhomeboys.com/blog/calgary-housing-market-improves-over-2010.html</link>
            <author>johnmayberry@calgaryhomeboys.com (John Mayberry)</author>
            <title>Calgary Housing Market Improves over 2010</title>
            <description> <![CDATA[ 
Calgary Homes Sales up 10% from 2010


The Calgary Real Estate board has just announced housing stats for year-to-date, and home sales are up. Although sales aren't up to normal historic levels, they have nonetheless improved. 


Single family home sales totaled 988 for the month of October 2011, an 11 per cent increase over October 2010, but continue to remain well below historical levels.  Year-to-date sales totaled 11,503, a 10 per cent increase over last year. Calgary Condo sales for the first 10 months of 2011 was 4,681 units, a 3% increase over the same period last year.  Inventory levels remained at 1,935 units, resulting in months of supply pushing above five months.  


“Consumers are feeling more confident about the local real estate market,” says Sano Stante, president of CREB®. “Consumers are taking advantage of price stability and a healthy variety of selection.  While these gains are moderate, we are set to outpace 2010 sales.” 


Particular Calgary neighbourhoods saw very strong price increases, particularly the southend communities near Crowchild Trail SW. Shaganappi, Elboya, Lower Mount Royal, and communities along the Bow River west of downtown. 


See our featured Calgary Homes for Sale and then search the MLS listings.
 ]]> </description>
            <pubDate>Tue, 01 Nov 2011 19:50:10 -0600</pubDate>
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            <guid>http://www.calgaryhomeboys.com/blog/home-for-sale-in-lake-midnapore.html</guid>
            <link>http://www.calgaryhomeboys.com/blog/home-for-sale-in-lake-midnapore.html</link>
            <author>johnmayberry@calgaryhomeboys.com (John Mayberry)</author>
            <title>Home For Sale in Lake Midnapore</title>
            <description> <![CDATA[ 
Beautiful Lake Midnapore - You Can Live Here Now


Lake Midnapore has long been considered a desirable southwest community but now that it has matured, the neighbourhoods surrounding the lake are more relaxed and comfortable. That's why Lake Midnapore Homes are so sought after. This neighbourhood is near Macleod Tr and Shawnessy Blvd offering quick access to highway 22x for your getaway westward and to highway 2 northbound to work or downtown.


What is a luxury home worth if it's not in a wonderful location? You can buy million dollar homes in Calgary and outside the city, but a home beside a perfect sized lake is very rare anywhere in Canada, let alone Calgary.  Homes surrounding Lake Midnapore have the character of lakeside cottages. While you can buy a cottage or rent one to get away from it all, Midnapore has some great properties where you can relax and enjoy the view of the water and watch birds and canoists go by. There is a great property available right now and it won't last long on the market. See 32 Midpark Pl Calgary now.





32 Midpark Pl Se, Calgary is a wonderful 4 bedroom, 3 bath home on a huge lot situated on a quiet cul de sac.


At almost 2700 square feet, plus a finished basement, you and your family will have lots of room to live and play. It features a VERY large open family room, a formal dining room, laundry area, living room w/ brick fireplace, an office(4th bedroom) &amp; a tasteful kitchen with granite countertops, a miele dishwasher &amp; gas stove. The impressive spiral staircase leads you to a large sized master bedroom with its own gorgeous stone fireplace &amp; sitting area. The master bedroom has it's own private balcony, walk in closet, granite sink &amp; seperate shower room. Your kids will love the 2 more bedrooms upstairs &amp; another full 5 pce bathroom with granite countertop.








 
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            <pubDate>Thu, 06 Oct 2011 19:54:36 -0600</pubDate>
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            <guid>http://www.calgaryhomeboys.com/blog/moving-to-calgary-a-lot-of-canadians-are-doing-just-that.html</guid>
            <link>http://www.calgaryhomeboys.com/blog/moving-to-calgary-a-lot-of-canadians-are-doing-just-that.html</link>
            <author>johnmayberry@calgaryhomeboys.com (John Mayberry)</author>
            <title>Moving to Calgary - A lot of Canadians are Doing Just That</title>
            <description> <![CDATA[ 
New Migrants Helping to Keep Real Estate Sector Healthy


New stats show Calgary is an attractive place to live, especially during a recession. With the more positive job prospects in the Alberta economy, people across Canada are packing up and heading West. Alberta created 86,000 new jobs in the past year, and now has one of the lowest provincial jobless rates in Canada, at 5.6 per cent.


Calgary Development Council expects Calgary's population will grow another 18,000 by 2012. One interesting stat that comes out of their report shows the people of ages 50 to 60 will comprise almost half of that growth. The other big portion will be kids aged 0 to 9. Other age groups will actually decrease in number.


That could mean that older people are migrating because they sell their home in Toronto or other cities for a good amount, or that the 50+ crowd is more mobile. Another scenario is that younger workers in Calgary are headed north to Edmonton and Fort MacMurray to take advantage of growing Tar Sands and Oil Pipeline and service jobs.


Alberta Population Grows


The Edmonton journal reports that Alberta's population grew by 21,233 in the second quarter and 37,160 in the first half of 2011. According to Finance Alberta, Calgary accounted for 36% of total net interprovincial migration to Alberta, Edmonton 25% and Wood Buffalo 11%. With growth expected to continue and if oil and gas prices stay steady, 2012 could be an outstanding year.


Take a look at available properties in Calgary and area, from condos to townhouses to Million dollar homes, there is an excellent selection of homes for sale. Find out more about the Calgary housing market too!


Is it time to consider selling  your Calgary Home? Don't be hasty in choosing an agent. Things to think about is your agent's work ethic, marketing capability, and negotiation skills. A good Calgary Real estate agent will help you determine the correct price and ensure you get plenty of offers. It's not uncommon these days to get better than asking prices.
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            <pubDate>Mon, 03 Oct 2011 14:55:43 -0600</pubDate>
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            <guid>http://www.calgaryhomeboys.com/blog/calgary-housing-market-improves-in-september.html</guid>
            <link>http://www.calgaryhomeboys.com/blog/calgary-housing-market-improves-in-september.html</link>
            <author>johnmayberry@calgaryhomeboys.com (John Mayberry)</author>
            <title>Calgary Housing Market Improves in September</title>
            <description> <![CDATA[ 
September's Sales Show Nice Increase - A Healthy Market for Sellers


CREB has just released stats showing the Calgary housing market is improving. Sales volume and prices rose. 


Calgary single family home in September had an average sales price of $466,167 which was about 1.3% above last September's average prices, while the median price was $400,000. Total unit sales of 1,036 in September, 2011 was 8% above levels in September 2011.  Year-to-date sales totaled 10,518 units a 10 per cent increase over last year which a very positive statistic.


Million dollar homes in the range of 1,000,000 - 1,249,999 grew from 9 last September to 19 last month. Over all there has been only 6 more million dollar properties sold in the first 3 quarters this year compared to last. The biggest increase appears to be in the 600k to 999k price range where there have been 152 sales ytd 2011 compared to 94 for the first three quarters of 2010. That could mean that range is more attractive to home buyers or home prices have fallen to those levels. 


Homes in the price range of 200 to 299k sold at 158 sales compared to 126 units last September. The lower end increase may be caused by first time homebuyers or the result in the influx of new migrants to the Calgary area. Migration inflows have increased to highest levels since 2006.


Condo Sales in Calgary Improve


Calgary condominium sales totaled 4,314, which was a 2 % increase over September of 2010. CREB notes that this was modest increase in the right direction.


Search for Calgary Homes for Sale or Calgary Condos for Sale now.


Ask for John's help with selling your Calgary Real Estate property this fall and winter. We'll help you get the best results possible.
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            <pubDate>Mon, 03 Oct 2011 14:15:05 -0600</pubDate>
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