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Calgary Home Boys Real Estate Blog

Calgary Home Prices Rise 

Canada’s August real estate sales continued to slump according to CREA. National resale housing activity dropped sharply from July to August by 5.8%. The government’s strong attempt at crushing the market has succeeded at the same time as oil prices and the Canadian dollar have risen and mortgage acquisition has become very tough for most Canadians hoping to buy.

CREA reports that sales activity is down 8.9% from last August yet the national average home price still rose .3%.   Declines were recorded in two thirds of all Canadian markets.  Still, there were 2.8% more real estate transactions in the MLS system so far this year.  Newly listed homes dropped by 1.7% in August. In Toronto, new listings dropped by a staggering 7.7%

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Bob Alexander on Mon, Aug 27, 2012 wrote:

Hope you are all enjoying the summer and getting ready to get back to normal routines.
Back in July, the Canadian Government made changes to the mortgage lending rules and I would like to review four financing situations that highlight how much impact these changes have going forward.

1) Nullified Switch

The Facts: Your existing mortgage with a remaining amortization of more than 25 years is up for renewal. You have less than 20 percent equity. You have found another lender with a great rate but your gross debts exceed 39% of your income.

The new reality: Kiss the better rate goodbye. Only your existing lender with the higher rate can re-lend without re-qualifying you.


2) Consolidation Blues

The Facts:

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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…
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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

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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

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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

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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,”

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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

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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

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