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August 2013

Found 7 blog entries for August 2013.

Simpsons Roofing - CalgaryThe weather in the Calgary is very severe and extreme and all that wind, sunshine, heat, sleet, cold, freezing water & HAIL can wreak havoc on the stability of your roof asphalt shingles.  Those shingles are tough when installed properly but they obviously have their limits.  After a few years, you’re going to have to reshingle them.

So you’re getting ready to sell your home and anticipating a big winfall since the prices are pretty good these days. But there’s the issue of your roof, which the property inspector could possibly determine is an issue. Shingles might have worn badly, nails have loosened, cracks and leaks in the tar paper are letting in moisture and water, and the vents might not be working adequately. 

If you done any other major

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How Can I Improve My Resale Value?!?

Calgary Landscaping IdeasSo, you're ready to sell and you're thinking, "how can I improve the resale value?" That's the right question because this is biggest investment of your life --- your home. If you can sell it for $10,000 to $20,000 more, that's a nice addition to your retirement fund, or cut down the size of your next mortgage.

But, what if you can't afford a major renovation of your kitchen, bathroom, roof, or flooring? These are the renovations that tend to increase home value the most, however there are risks too. If you spend $20k to upgrade your kitchen and then find out most buyers don't like it, your plan backfired. What other types of upgrades won't cost you a fortune? One that quickly comes to mind is landscaping.

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calgary mortgage rates august 2013

Most of the major Canadian banks have chosen to raise their rates slightly although they’re actually back to almost the same as one month ago. So there’s no real change to discuss.

When mortgage rates rise, they push up the average monthly costs that homeowners must pay. And a rise of 20 basis points will increase mortgage payments from $60 to $100 per month on a mortgage of $500,000. That's a significant amount no doubt, yet mortgage rates have stayed fairly low. 

Benjamin Tal, an economist with CIBC says the US Federal Reserve is responsible for the rise because of the amount of money it is printing for quantitative easing. He says the US doesn't need to print money but they continue to do so. He says the sell off in the bond market is not due to

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According to a recent real estate news report, housing prices are increasing across Canada and in Calgary.  The average price of a home across the country rose about 2% on average.  And in Calgary where housing is hard to come by, the rate is now above 6%. That may encourage a number of sellers to hold onto their properties and hope the price rise goes up even faster. But that might not be the path it will take.

sellers market calgary reIn Calgary, the price of detached bungalows rose by 5.0%, 2 story homes were up by 6.7%, and condos rose by 6%.  By dollar value, the average price of a bungalow in the second quarter rose to $458,000 from $452,000, or about $6000. The average 2 story detached house rose almost $14000, from $440,000 to $454,000. The demand for bungalows is

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The IMF has released an economic outlook report for the globe. They suggest the global economy will only grow about 3% this year and almost 4% next year.  That's not a pessimistic outlook however there are some areas to watch.  The US economy hasn't performed well enough and that's why the IMF has adjusted its forecasts downward slightly.

Advanced economies look stable with subdued growth rates, while the eurozone looks a little shaky. Emerging economies appear to be in a trouble. That shouldn't dampen demand for energy products here and across the globe, demand for oil and gas is still strong.  Basically, the global economy is being held back by restrictive austerity measures aimed at tackling debt.

Stimulative monetary policy which would lower

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June was an Active Month for Home Sales in Calgary

Home sales via the Calgary MLS system were brisk in June. The region had 5.27% more sales than June of 2012.  And so far in July, sales are up by 6.39%

Single family home sales have increased slightly and new listings are up a surprising 12%. It’s difficult to say whether the big flood has caused this or whether there are fears of rising interest rates. Obviously homeowners are sensing that this may be the right time to put their home on the market.  Active listings however are down, which will favour those new sellers entering the market.  The average single family home has risen 20% from last July and is up $45,000 just in the last month. Those prices may have been affected by the recent upsurge in

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There will be a new cap on home loan guarantees going forward. The Canadian Mortgage and Housing Corp has notified banks, credit unions and other mortgage lenders that they will each be restricted to a maximum of $350 million of new guarantees in August under its National Housing Act Mortgage-Backed Securities (NHA MBS) program.

CHC News - Get off the fence - Calgary Real EstateThe government allocated $85 billion under the program but by the end of July, $66 billion had already been used up. So, with the funds running out, the restriction to $350 million will keep it to it's allotted budget. 

Experts suggest this new cap will make it more difficult and costly for Canadian banks to obtain funds to lend to their customers. That higher costs could put upward pressure on mortgage rates. And upward

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