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Calgary Home Boys Real Estate Blog

Calgary ViewsOne of the best ways to experience sweeping views of Calgary is from atop any of the citys stunning condo towers. Three specific locations supply some of the best scenery there is.

Evolution Calgary

Rising up 31 storeys, Evolution sits right in downtown, with generous views of the surrounding area. Found in the East Village, the three-phase project includes walls of windows and enviable private outdoor space.

Verve Calgary

Meanwhile, a rooftop terrace and lounge provide the perfect setting for admiring the views from the Verve Condominiums. The 25-storey high-rise also includes a six-storey podium, with sensational views from the large windows looking out upon the city and the nearby river.

Solaire Calgary

In comparison, the Solaire

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Buying a Home in Calgary In case you haven't heard, buying a home in Calgary next year could soon be significantly less affordable, meaning first time home buyers need to act fast if they want to secure a home loan before the turn of the calendar. So, if you’re in the market to buy your first home in Calgary, we have a few quick tips to put you on the right track.

Get pre-approved

The first thing you’ll need to do is to get pre-approved for a mortgage. This is especially important for your first home because it helps narrow down what you feel comfortable with spending each month, and what you qualify for.

Know the extra costs

Another tip is to make sure you fully understand what goes into owning a home each month in addition to the mortgage payment. This could include

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Calgary Real Estate Market It may not be at a quick pace, but Calgary’s housing market is beginning to slowly recover, following other signs of an improving economy across the region. With projections of oil prices rising and a rise in jobs and full-time employment in Alberta, in turn come signs of recovery in home prices. 

Calgary, in particular, has seen a five-percent rise in the aggregate home price year over year, while Edmonton has experienced a four-percent rise year over year. 

When looking at just Calgary, the median home price for a two-storey home was up to $520,624 for the third quarter of this year, while the median bungalow price was up to $505,925. Although much more modest of an increase, the median price of a Calgary condominium year over year rose to

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Mortgage Stress Test The final version of new mortgage rules to hit Canadian markets is out, and there are definitely some pretty major chances. Among them is a new requirement that’s designed to “stress test” borrowers with uninsured loans in order to better understand whether they’ll be able to manage higher payments should interest rates increase. 

Under existing laws, home loan borrowers must purchase mortgage insurance when putting down anything less than 20%, and under the old guidelines, such borrowers were already subjected to a similar stress test. 

But now, even borrowers who put down more than 20% will be required to prove they can withstand higher interest rates, which of course is meant to further protect banks and lenders from loan defaults if and when

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Mortgage Rates CanadaIt’s widely expected that housing will be much less affordable in 2018, but by how much is still anybody’s guess. According to reports, mortgage carrying costs could increase by nearly 8% next year, largely because of rate increases and stricter mortgage rules and guidelines. 

To make matters worse, it’s also estimated that household incomes are only projected to increase by 2.5% in 2018. Translation: higher mortgage premiums and minimal wage increases is a bad combination for any housing market, especially when it comes to affordability for entry-level home buyers. 

But even as Canadian regulators may soon force borrowers to qualify for a higher interest rate, perhaps for even as much as 5%, it’s still unlikely actual rates would reach that level,

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Calgary Condos For Sale The ultra-modern condos of The Concord Calgary are now listed on the MLS, providing new options in luxury living right along the Bow River. This spectacular, new construction development offers two towers, altogether including more than 200 planned luxury homes.

Made up of private residences, suites and villas, many condos for sale at The Concord Calgary include two- to three-bedrooms, plus some private outdoor space. The richly adorned buildings surround an all-season garden.

As well, the development also offers a swimming pool and a nearby, waterside lounge, a full fitness centre and a yoga studio. The opulent design features also extend to concierge service, some valet parking and enclosed parking, with even some private garages.

Other

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Expensive Condo Buildings in CalgaryIf you’ve started the search for condos in Calgary, you’ve probably noticed that three particular developments often come up in the search of the most expensive. Upon closer inspection, however, it’s easy to see why all of these properties are so inviting.

The Concord

Set right along the riverfront, The Concord invites luxury and exclusivity. The condos and town homes are complimented by an array of upscale amenities. A swimming pool and waterside lounge, some private garages and high-end features and finishes, such as the Porsche-designed kitchens in some units, join the ultra-luxurious towers.

Keynote Calgary

Situated in desirable Victoria Park, the dual Keynote towers overlook nearby green space, with soaring windows, underground parking

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Calgary Housing Inventory The housing inventory is up in Calgary, with the availability of certain types of homes setting a new record for the month of September. The news comes from a newly released monthly report, courtesy of the Calgary Real Estate Board.

According to the report, attached homes and apartments rose to the highest inventory levels ever for the month of September, though single-family properties also saw growth in inventory. 

According to the CREB, inventories hit 6,861 units for the month, with new listings during September rising about 10-percent, when looking at year over year. Some exerts credit the new listings to sellers who had previously held off on listing their homes while waiting for the market to begin signs of stabilization.

While sales did

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Cranstons Riverstone Homes For Sale Encircled by the natural beauty of Southeast Calgary, Cranston’s Riverstone recently unveiled its new show homes to the public. This outstanding new community boasts homes with lots backing up to an environmental reserve and green space, allowing for a peaceful, pristine setting.

The new homes for sale in Cranstons Riverstone include a 2,800 square foot, two-storey model, as well as a bungalow, with the option of a lower level. In addition, there’s also another 2,800 square foot, two-storey home and another bungalow, also with a developed basement and an upper loft, bringing it to more than 3,800 square feet in size.

Cranston’s Riverstone includes the estate homes, move-up homes, villas and town homes. The community is already about halfway

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New Home Construction in CanadaNew home constriction in Canada is having its best year since 2008-2009, according to new data highlighted by the Calgary Herald. And although rising interest rates have many soon-to-be home buyers in Calgary and beyond a bit worried, builders are showing no signs of slowing down any time soon. 

As noted in the report, work started for an annualized 222,324 new homes throughout Canada this past July, which represents the third-fastest pace since all the way back in 2012. Furthermore, home starts have averaged around 215,000 so far in 2017, which is also high enough to register the most new residential construction since 2007 should the current pace continues. 

New multi-family projects in Toronto, Montreal, and Vancouver certainly helped fuel the

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