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July 2013

Found 10 blog entries for July 2013.

Thinking life might be a little better if lived on the western outskirts of calgary? Well, Tuscany might have everything a modern family could want including great views of the Rockies.

Far away from the congestion of the city, Tuscany gets you close to nature and close to your mountain getaway to beat the Sunday night traffic back home. Near to Tuscany is Arbour Lake, Scenic Acres, Rocky Ridge and Royal Oak.Tuscany Community Calgary

Tucked away in the western edge of Calgary is an exciting community elegantly named Tuscany.  You gain access to Tuscany via the TransCanada highway, Crowchild Trail, or Stoney Trail.  Tuscany was launched in 1994 but is still considered a new community by most Calgarians.

Tuscany’s population of 19,000 residents have an annual family income of

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US Economic Growth to Fuel Canada’s Economy

Economy Growth in CanadaNew reports about the US economy suggest our sluggish growth of late will end. A Reuter’s poll suggests the US economy will grow at a positive 1.8% this year and rise to 2.7% next year. Despite a dismal domestic demand here in Canada, the US growth should result in a brighter picture for Canada.

Economists are giving a revised estimate for the Canadian economy. Ours will grow 2.3% in 2014 and that’s down from 2.3% previously forecast. Apparently our economy never suffered to the extent the US did therefore our recovery won’t be as great.

Canadian Home Construction

Home construction is often used as a key future economic indicator. Poll respondents expect home starts for this year at 179,000 units,

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Canadian Dollar May Return to Parity Next Year

Canadian Dollar or Loonie vs US dollarIt’s been sometime since the US dollar was valued above Canadian but in the last few weeks it’s been down as low as 95 cents US. That drop can mean good things for the Canadian manufacturing sector who export to the US. A 5% rise in profits will benefit some well, and further if Canadian-source inputs cost them less.

The CIBC says the dollar will stay where it is for the remainder of the year and then climb back up to parity in 2014. That might spell a buying opportunity for some who have plenty of greenbacks. And it could spur the buying of Canadian dollars since speculators will believe they can get a 5% bonus over half a year or so.

Since many foreign investors have US currency, they may be

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Calgary’s luxury home market continues to break the Canadian trend of falling sales and lower market prices.

In Calgary, the luxury market is thriving, up 15%, driven partly by foreign investors who may be passing on Vancouver’s market and are looking for other real estate investment opportunities. There were a record number of purchases of ultra expensive homes in Calgary in July. 4 MLS listed homes above $4 million dollars were sold this month. There were 18 homes sold above $1 million. May and June were record months for the Calgary luxury home market.

Days on Market in the luxury sector are rising and even in Calgary, fewer million dollar homes are selling far above asking price.  Days on market in Toronto were lower than Calgary, yet that is

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Calgary’s luxury home market continues its rosy levels this summer.  In June there were 4 homes sold valued at above $4 million. That marks the first time that many have been sold within the period of one calendar month. The communities where the sales occurred were Elbow Glencoe Park, Mount Royal, Britannia, and Bel Aire.

It’s been a record year for the luxury home market. There were 74 luxury home sales in June, which was a record for the month for the highest number of $1-million+ sales for the month of June. And the all time highest number was set in the previous month of May, which was 84 sold. This month, the lower Canadian dollar may have been a factor but it’s really difficult to know for sure why there would be a run on the upscale homes.

18

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Moving to Calgary

That’s an exciting prospect for a lot of people across Canada and even around the world. Our city’s rated one of the best places to live in the world.  As we’re cleaning up from the flood, there are definitely some challenges, but really, we have it very good here. It’s no surprise so many others want to join us.

This is a move you probably should make if you’re thinking about it. Life is short, and great opportunities don’t show up every day. Sometimes you need to just make things happen.moving to calgary

If you’re thinking of moving to Calgary, you’ll certainly need to plan ahead. You’ve got some obstacles ahead of you as far as finding a place to live, transporting your belongings, getting your kids registered for school, getting your driver’s

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Rising Prices Threaten Affordability for Home Buyers

Rising Calgary Real Estate Prices Threaten Affordability for Home BuyersLast month’s home starts and sales figures are giving mixed messages to home buyers about when to buy and whether they will ever be able to afford a home. Is the window of opportunity slowly being closed?

Charron Ungar, president of the Calgary Region of the Canadian Home Builder’s Association is not giving much room for optimism either. “For the record, I stand behind what I said in January as much as I did then,” said Ungar during his final speech Wednesday, June 12, as president of the CHBA. “In fact, I think the situation is possibly even greater — even worse.”

The average price of a property in Calgary rose $17,000 to an average $462,000.

The Calgary Flood’s affect on home prices is a point

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Have a look at the latest mortgage rates for Canadian Banks as of July 3rd. TD Canada Trust and RBC have raised their rates up a bit while CIBC has dropped there's down a little.

As warned rates are on the rise, so it's wise to start looking into the matter of when to renew your mortgage. If you're unsure of what to do, send me an email and I can get a mortgage broker to contact you. There's no hard sales tactics. Just someone to talk to about possibilities in view of the inevitable rise in rates that's coming. If you have a low rate right now and a big mortgage, then you could get hurt by a sudden rise over the next few years. That's what was behind the tightening of the mortgage rules by Jim Flaherty and the Fed government. They were certain this

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Calgary’s Rental Availability now Lowest in Canada

Just as CMHC reported that Calgary’s vacancy rate fell to 1.2% in April, down from 2.5 per cent in April 2012, the Calgary Flood of 2013 is putting a serious hurt on availability and rental affordability, which may benefit those who have invested in rental income properties, but the high vacancy rate is a big problem for Calgarians who don’t own their own home.

The flood has left almost 10,000 people homeless. The flood disaster will require a major rebuilding effort and that will bring in a wave of skilled construction workers who of course will need temporary shelter. The two hardest hit neighbourhoods with a high percentage of rental properties are Mission and Bowness. We’re going to see some big

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How Will the Flood Impact Housing?

The great flood of 2013 is leaving a lasting impression on the City of Calgary and the rest of Alberta for that matter.  I’d like to extend my sympathies to those living in the lower altitude areas of the city, especially those next to the Bow and the Elbow. 

As many as 10,000 people are said to be homeless right now in the city. The damage on Bow Crescent in Bowness was awful.

The downtown hasn’t recovered and many homeowners have been left homeless. I hope they have found a neighbour or relative that is giving them shelter for a while. It does remind you of tornado ravaged areas where people’s lives are wiped out so suddenly.

Stock Down and Probably Demand will be Down for a While Too

Well, this is anybody’s

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