tammy forrest
Direct: 403-464-8688
Fax: 403-476-5317 erik van der linden
Direct: 403-875-4829
Fax: 403-592-2233 shilo storey
Direct: 403-771-9002
Fax: 403-592-2233 | | Tuesday, February 21, 2012 Battle of Alberta!by Tammy Forrest on Tue, Feb, 21, 2012 09:22 PM
Battle of Alberta tonight at the Dome!! Game starts @ 7PM Saturday, February 18, 2012 New property listed in Coach Hill, Calgaryby Tammy Forrest on Sat, Feb, 18, 2012 04:04 AM
I have listed a new property at 232 6400 COACH HILL RD SW in CALGARY.
LOCATION, LOCATION!! Urban Chic, Top Floor Loft Condo w/sleek, modern contemporary finishings! Walk in and be knocked out by the open space & SOARING CEILINGS of this well laid out & SUPER BRIGHT home! Spacious Great Room with corner cozy fireplace! Kitchen boasts GRANITE counters, STAINLESS STEEL appliances, beautiful modern cabinetry, and loads of counter space. Huge master bedroom w/large closet and large window! Loft is perfect for a work space or just relaxing & enjoying some quiet time. Great spot for reading! Gorgeous 4 pc bathroom with extra deep soaker tub, GRANITE counter & tile floor/backsplash. Private balcony with Greenspace view...very private! Also extra storage under loft stairs. IN-SUITE LAUNDRY with loads of storage...WASHER & DRYER Included! Close to shopping, schools, downtown & future LRT. Nothing to do but move in & start enjoying your new life! DON'T MISS THIS ONE!!!
Thursday, February 16, 2012 Housing Crutch Abandoning Banksby Tammy Forrest on Thu, Feb, 16, 2012 08:06 PM
Tyler Anderson/National Post
Home buyers who can’t put up at least 20% of the cost of the house are required to take out insurance.
The numbers are staggering.
At the end of last year the Canadian banks had $494.4-billion of insured mortgages on their books, guaranteed by the Canada Mortgage and Housing Corp.
Another piece of telling data: As of the end of September the CMHC had guarantees on $541-billion of outstanding home loans — roughly equivalent to the Canadian federal debt and just shy of its government mandated $600-billion cap.
The sudden jump in demand for so-called “bulk insurance” on securitized home loans took even the CMHC by surprise. It acknowledged last last month that due to “an unexpected level of requests” it is establishing “an allocation process” (aka: sharp reduction) for big lenders so it can keep doling out insurance to average Canadians.
Meanwhile, the government led by Stephen Harper, which is deeply worried about runaway consumer debt, is said to also be leaning on the CMHC to curtail bulk insurance.
“There has been increasing speculation that upcoming legislation will not permit the use of CMHC insured mortgages as collateral,” said BMO Capital Markets analyst George Lazarevski.
Whether such a move will have the desired impact remains to be seen but it’s further evidence of the dilemma the government finds itself in as it struggles to rein in consumer borrowing without destabilizing an already frothy housing market.
The good news is that the Canadian real estate prices appear to have stabilized, according to the Canadian Real Estate Association.
In a report released on Wednesday, CREA said average prices in January were up less than 2% over the same period last year, with sales down 4.5% compared to December, the biggest monthly decline in 18 months. The findings suggest that the market may be headed for a soft landing, though experts say it’s still too early to say.
Home buyers who can’t put up at least 20% of the cost of the house are required to take out insurance. Banks can also take out bulk insurance on mortgage pools, a key step before packaging up the loans into securities for sale to investors.
Though there are a handful of private sector insurers, the CMHC is by far the dominant player. It also backstops 90% of the private sector guarantees.
As a Crown corp., the CMHC is an arm of the federal government, which is why bonds backed by CMHC insured mortgages can carry a higher credit rating than the institution that issued them.
This means banks are able to raise funding almost as cheaply as the federal government — an enormous competitive advantage at a time of rock bottom interest rates, when many foreign lenders are virtually shut out of funding markets.
Not surprisingly, Canadian banks are big fans of bonds backed by insured mortgages, selling a record $24.7-billion of covered bonds in 2011, up from $17.3-billion in 2010 and $2.8-billion in 2007, the year prior to the financial crisis.
Ottawa increased the mortgage insurance cap to $300-billion from $250-billion in 2004. It was boosted again in 2007 to $350-billion, and then to $450-billion in 2008. In 2009 it was pushed up to its current limit of $600-billion.
Part of the reason Ottawa has been raising the cap was to enable players to access funding in the wake of the financial crisis that began in 2008. While that storm is long over, the banks’ appetite has been undiminished.
Some critics worry that lenders are more focused on creating and selling covered bonds than on the ability of borrowers to meet their obligations on the underlying mortgages.
Industry insiders speculate that the government may respond by prohibiting the used of CMHC-insured mortgages as collateral for covered bonds, according to Mr. Lazarevski.
Even if Ottawa takes that step it still doesn’t solve the bigger problem with consumer debt.
The root of the issue is that banks are public companies — with demanding shareholders — designed to pursue profit, and that’s exactly what they’re doing.
“As long as you’ve got a free, open economy, there’s really not much the government can do,” said Lawrence Booth, a professor at the University of Toronto’s Rotman School of Management.
The government has tightened mortgage rules several times, but when interest rates across much of the developed world are close to zero such strategies will only go so far.
“The fact is, what can you do with the banks?” asked Mr. Booth. “The banks are in business to make money. The Bank of Montreal lowered their five-year rate [a while back]. All the banks had to respond otherwise they lose business. On the one hand this is good to help the economy. On the other hand [Bank of Canada Governor] Mark Carney is dead worried about the increase in household indebtedness.”
Canadian household debt to income is already sitting at a record 153%, greater in Canada than in the U.S. or Britain.
Finance Minister Jim Flaherty has tightened mortgage lending rules in several ways, but with limited effect as consumer debt held by the banks continues to grow at around 6%, well ahead of GDP.
The worry is that a spike in unemployment or interest rates could trigger a wave of defaults that would ripple through the broader economy. In a worst-case scenario, a major real estate correction could overwhelm the CMHC, leaving taxpayers on the hook.
“Of course taxpayers should be concerned,” said Finn Poschmann, vice president of the C.D. Howe Institute, a Toronto-based think tank. “You’ve got a situation where a big portion of the assets held by the banks are comprised of loans guaranteed by the federal government, which enables the banks to raise extraordinarily low cost capital. All the incentives line up.”
John Reucasse, who covers banks for BMO Capital markets, pointed out in a note to clients last month that the sector’s reliance on CMHC insurance has “increased significantly” and he warns that “should the CMHC ever require capital from the federal government… we expect banks could face higher taxes and higher premiums to fund losses.”
Outstanding mortgage debt stood at a record $1.1-trillion at the end of 2011, nearly triple what it was a decade ago, with most of the growth taking place since 2007.
About 50% of mortgage loans held by the banks are covered by the CMHC, representing about 22% of the Canadian dollar assets, according to the C.D. Howe Institute.
“The system is working the way it’s supposed to,” said another analyst. “These are public policies designed to support the financial system.”
The result is we have strong, profitable banks that are widely held.
“People have got to start thinking about their own ownership stake in the banks,” he said. “Look at any equity mutual fund, banks all in there, Canadian consumers have got to recognize they are all owners.”
Thursday, February 16, 2012 Alberta MLS Sales Growth Tops Canadian Averageby Tammy Forrest on Thu, Feb, 16, 2012 04:51 AM
The year-over-year growth rate for MLS sales in Alberta doubled the Canadian average.
Photograph by: Christina Ryan, Calgary Herald
CALGARY — The rate of year-over-year growth in MLS sales in Alberta doubled the Canadian average in January, according to data released Wednesday by the Canadian Real Estate Association.
At the same time economists warned that the Canadian housing market is showing signs of cooling.
CREA said there were 3,109 transactions in the province, up 8.2 per cent from January 2011. In Canada, there were 24,821 MLS sales, representing a 4.0 per cent hike from a year ago.
But the average sale price in Alberta dipped by 1.7 per cent to $342,572 while for Canada it rose by 1.2 per cent to $348,178.
In Alberta, new listings during the month were up by 0.2 per cent to 8,024. In Canada, they rose by 4.4 per cent to 67,424.
Sales as a percentage of new listings rose to 51.0 per cent in Alberta, up 5.9 per cent from last year while in Canada it rose by 1.2 per cent to 53.2 per cent.
Douglas Porter, deputy chief economist with BMO Capital Markets, said the Canadian housing market on the whole is “showing further distinct signs of a welcome moderation as 2012 unfolds, with even some of the previously hottest cities simmering down.”
On a seasonally-adjusted basis, sales dropped 4.5 per cent in the country from the previous month. They were off 3.1 per cent in Alberta and 3.9 per cent in Calgary.
“On a regional basis, the biggest story is still Vancouver, although now it’s because activity in the city is coming back down the mountain. The 13.4 per cent year-over-year drop in sales in Vancouver is the largest in the country, and it is one of the few major centres where prices are down from last January. Calgary is also in that boat,” he said.
In Calgary, the average sale price fell by 3.1 per cent to $382,468 while sales were up by 0.5 per cent to 1,308.
New listings in Calgary decreased by 6.7 per cent to 3,328 and sales as a percentage of new listings was up 6.5 per cent to 51.6 per cent.
Jacques Marcil, senior economist with TD Economics, said the monthly decline in sales at the national level was the first one in five months and the largest since July 2010.
mtoneguzzi@calgaryherald.com
© Copyright (c) The Calgary Herald
Read more: http://www.calgaryherald.com/homes/Alberta+sales+growth+tops+Canadian+average/6156777/story.html#ixzz1mW7tURBi Thursday, February 16, 2012 I have sold a property at 98 Williamstown LANDING in AIRDRIEby Tammy Forrest on Thu, Feb, 16, 2012 04:04 AM
I have sold a property at 98 Williamstown LANDING in AIRDRIE.
This Fabulous Westley floor plan has it All!! Rich Color scheme runs throughout this popular Open Plan. Spacious entrance, Gas fireplace in Huge Great Room. Kitchen offers STAINLESS Steel Appliances, oversized Island that adds extra counter space, pendant lighting and spacious Pantry. Upstairs contains 3 bedrooms, Master hosts 4pc ensuite with walk-in closet. Functional Upper Level Laundry Room is an added bonus!! The basement contains a great layout for easy future development. COME HOME to Williamstown, an award-winning community by Vesta Properties featuring 60 acres of open green space, close to all amenities, and also a new elementary school opening up in September 2012! Don't miss out on this amazing home!!
Tuesday, February 14, 2012 Happy Valentines Day!by Tammy Forrest on Tue, Feb, 14, 2012 06:44 PM 
The Forrest van der Linden Storey would like to wish everyone a Happy Valentines Day!!!! Monday, February 13, 2012 Steady Growth Forecast For Calgary Housing Marketby Tammy Forrest on Mon, Feb, 13, 2012 08:03 PM
MLS sales and average sale prices are forecast to increase in the Calgary region in the next two years.
Photograph by: Stuart Gradon, Calgary Herald
CALGARY — Steady growth is forecast for Calgary’s housing market in the next two years, according to a new report released Monday by Canada Mortgage and Housing Corp.
The agency said MLS sales in the Calgary census metropolitan area will grow to 23,000 transactions in 2012 and to 23,700 in 2013 from 22,466 in 2011.
The CMHC said the average sale price will rise from $402,851 in 2011 to $409,000 in 2012 and $420,000 in 2013.
The optimistic forecast also translates into the new housing market.
The CMHC is predicting housing starts in the Calgary region to jump from 9,292 in 2011 to 10,300 in 2012 and 10,700 in 2013.
“Economic activity in Calgary will continue to support housing demand throughout the forecast period,” said Richard Cho, senior market analyst in Calgary for the CMHC. “Sustained investments in the energy sector will not only create jobs in the energy industry but also promote activity in other industries leading to more employment opportunities for job seekers. Employment levels in Calgary steadily rose in 2011 and the same is expected for 2012. As labour market conditions gradually tighten, we can expect to see higher migration flows to Calgary which is also an important driver for housing demand. In addition, favourable mortgage rates will also contribute to more sales in the new home and resale market.
“More single-detached and multi-family homes are forecast to break ground this year. In the past, elevated active listings in the competing resale market contributed to fewer single-detached starts. However, as the resale market becomes more balanced this year coupled with improving demand, we can expect to see more single-detached homes start construction. Multi-family construction will also pick up this year and next, mainly from higher apartment starts. Apartment inventories have come down from their elevated levels providing some builders an opportunity to start more projects and help satisfy demand.”
In Alberta, the CMHC forecasts housing starts to jump from 25,704 in 2011 to 29,100 in 2012 and 30,000 in 2013.
Provincially, MLS sales are forecast to jump from 53,146 in 2011 to 54,650 in 2012 and 56,550 in 2013. The average MLS sale price will rise from $355,808 in 2011 to $363,650 this year and $372,300 next year.
“Employment opportunities in the Prairies will continue to draw migrants, supporting new housing demand,” said Lai Sing Louie, the CMHC’s regional economist for the Prairie and Territories Region.
The CMHC report said net migration to Alberta is on an upward trend due to economic growth, job creation and low unemployment rates and the 2011 count will almost double 2010’s total of 19,613, which was a 15-year low. The CMHC estimates net migration in 2011 at 38,500 followed by 39,000 in 2012 and 39,500 in 2013.
“Over the forecast period, net migration will be close to the 10-year average with about 40,000 people added each year, increasing housing demand for rental and home ownership,” said the report.
It also said economic expansion is expected to continue supporting rental demand in 2012.
“Investments in the energy sector are promoting economic growth in Calgary, creating jobs and attracting migrants,” said the CMHC. “In addition, rental supply is not anticipated to see any large increases in the near future.”
It said the rental vacancy rate is expected to dip from 1.9 per cent in October 2011 to 1.8 per cent this year and to 1.6 per cent in 2013.
The average two-bedroom apartment rent is expected to rise from $1,084 in 2011 to $1,125 this year and $1,175 in 2013.
Todd Hirsch, senior economist with ATB Financial, said for over two years prices for newly-built homes in Calgary have remained basically unchanged.
He said it reflects stability in the housing market. Also, housing starts and existing home prices have shown similar patterns of stability in recent years.
“Alberta’s rising population and great labour market conditions are boosting housing demand. Yet that may be counter-balanced by the general belief that mortgage rates and prices will remain steady in the coming months. This may be reducing the urgency for potential buyers to jump into the market,” said Hirsch.
“This all suggests a fairly balanced, healthy market. The current stability eases any fears of inventory or price bubbles building — which pose much bigger problems when they burst.”
mtoneguzzi@calgaryherald.com
© Copyright (c) The Calgary Herald
Read more: http://www.calgaryherald.com/business/Steady+growth+forecast+Calgary+housing+market/6144282/story.html#ixzz1mIHzRk00 Sunday, February 12, 2012 I have sold a property at 906 WILLIAMSTOWN BLVD in AIRDRIEby Tammy Forrest on Sun, Feb, 12, 2012 04:04 AM
I have sold a property at 906 WILLIAMSTOWN BLVD in AIRDRIE.
FABULOUS BUNGALOW in WILLIAMSTOWN, an award winning community by Vesta Properties! This Stunning 2 Bedroom + Den plus 3 Full Baths will WOW you! Soaring ceilings and gleaming HARDWOOD. Dark GRANITE & UPGRADED Black Appliances. Master has Vaulted ceilings, Walkin closet & Beautiful 5pc Ensuite complete with seperate SOAKER tub & oversized shower...His & Her sinks...make the morning rush a breeze! Main floor Den has soaring ceiling, cozy Gas fireplace & French doors! Another gas fireplace in the Great Room looks out to back yard and BBQing Deck. DOUBLE ATTACHED Garage on the rear of the house is great with Mudroom/Laundry Room perfectly located. Downstairs 2nd bedroom with 9' ceilings, large closet & bright window. Another 4pc Bathroom is already completed for you. The rest of the basement is awaiting your final touches...need another bedroom (There is room)! Plus a HUGE possible Rec Room and still Loads of Storage, come take a Look!
Sunday, February 12, 2012 I have sold a property at 63 WILLIAMSTOWN LANDING in AIRDRIEby Tammy Forrest on Sun, Feb, 12, 2012 04:04 AM
I have sold a property at 63 WILLIAMSTOWN LANDING in AIRDRIE.
**OPEN HOUSE, Sat & Sun from 1 - 4 PM** THIS IS WHAT YOU HAVE BEEN WAITING FOR!! Exquisite 2147sqft WALKOUT 2 Storey on the ENVIROMENTAL RESERVE in the Award Winning community of WILLIAMSTOWN! This Prestwick floor plan features a main floor Den with French doors, and an Open Great room, Eating area & Kitchen that has amazing views! Kitchen offers UPGRADED STAINLESS appliances, GRANITE counters, HUGE Island & Walk-in Pantry. up the Spindled staircase the King-sized Master retreat awaits...Bench seat to admire the view, 5pc Spa Ensuite & Walk-in closet. There are 2 more spacious bedrooms, 4pc Bath and BONUS Room with Vaulted ceiling. Downstairs. The WALKOUT basement awaits your finishings touches, roughedin plumbing included! Bring the Family to Williamstown, the New Elementary School is set to open September 2012!!!
Thursday, February 9, 2012 Calgary Boat And Sportsman Show 2012by Tammy Forrest on Thu, Feb, 9, 2012 06:32 PM 
Looking for something to do this weekend?!?!
The 2012 Calgary Boat and Sportsmen’s Show will open at 1:00 pm on Thursday, February 9th and remain open until 5:00 pm on Sunday, February 12th at the BMO Centre, Stampede Park.
The Calgary Boat and Sportsmen’s Show is Southern Alberta’s Biggest Outdoor Show and will showcase over $16 million of marine products and accessories. In addition to the large selection of boats there are boating accessories ranging from docks and buoys, water skis, wakeboards as well as fishing, camping, and hunting gear.
There are numerous features geared to various members of the family including; The Kids Fishing Pond, The Birds of Prey presentation area, The “Fly Fishing Film”, the fly fishing casting pool and demonstration area, and the Alberta Hunter Education (AHEIA) interactive and educational displays and many adventure travel and tourism destinations.
Advance tickets are available at the Fishin’ Hole or present your WIN card at the door and receive $2.00 off the regular senior, adult or junior admission price.
One lucky person will walk away from the Show with Grand Prize of a “ $5000.00 Shop the Shop Sweepstakes”, so don’t miss your chance to enter to win.
What: The 2012 Calgary Boat and Sportsmen’s Show
When:
Thursday, February 9th – 1:00 pm – 9:00 pm
Friday, February 10th – 1:00 pm – 9:00 pm
Saturday, February 11th – 10:00 am – 8:00 pm
Sunday, February 12th – 10:00 am – 5:00 pm
Where: BMO Centre, Stampede Park
Details:
Family: $34.00 (2 adults, 2 juniors)
Adults: $13.00
Seniors (65+): $9.00
Juniors: $8.00
Children (Under the age of 6): Free when accompanied by an adult
http://www.calgaryboatandsportshow.ca/media/
Thursday, February 9, 2012 Calgary New Home Prices Dip Slightly Year-Over-Yearby Tammy Forrest on Thu, Feb, 9, 2012 05:54 PM
New home prices in Calgary in December increased from the previous month but were down compared with a year ago.
CALGARY — New home prices in the Calgary census metropolitan area were down slightly in December compared with a year ago.
Statistics Canada’s New Housing Price Index, released Thursday, showed prices in the Calgary region were off by 0.1 per cent on an annual basis but they were up 0.2 per cent from November.
For Canada, prices rose 0.1 per cent following a 0.3 per cent increase in November. On a year-over-year basis, prices across the country have risen by 2.5 per cent.
Between November and December, Toronto and Oshawa (0.4 per cent) posted the largest monthly price advance, followed by Montréal and Québec City (both 0.3 per cent).
Monthly price declines were recorded in Hamilton (0.3 per cent) and Vancouver (0.2 per cent).
The largest year-over-year price increases were recorded in Toronto and Oshawa (6.3 per cent), Regina (5.3 per cent) and Winnipeg (4.6 per cent).
Victoria posted the largest decrease at 1.6 per cent.
mtoneguzzi@calgaryherald.com
© Copyright (c) The Calgary Herald
Read more: http://www.calgaryherald.com/Calgary+home+prices+slightly+year+over+year/6125935/story.html#ixzz1luNQSTcF Wednesday, February 8, 2012 Caring For Kids Radiothonby Tammy Forrest on Wed, Feb, 8, 2012 09:03 PM The Caring for Kids Radiothon
Tune in to Country 105 today through Friday to hear how YOUR support of the Alberta Children’s Hospital is helping over 80,000 kids who rely on our hospital each year!
Hear first hand from dozens of amazing children and their parents whose courage - in the face of serious injury and illness - is truly inspiring!
We would like to thank all the Re/Max professionals to date, that have collectively contributed over $100 Million to this wonderful cause!!
Lets take part in this event and get that number up even higher!!
We encourage all fellow colleagues, clients, friends and family to join us, the Forrest van der Linden Storey in supporting this wonderful cause!
To learn more go to: www.kidsradiothon.com
http://www.remax-western.ca/childrens-miracle-network Tuesday, February 7, 2012 I have sold a property at 1218 2370 Bayside RD SW in AIRDRIEby Tammy Forrest on Tue, Feb, 7, 2012 04:08 AM
I have sold a property at 1218 2370 Bayside RD SW in AIRDRIE.
Here it is.... 2 bedroom, 2 bath condo in the community of bayside, ready to move into! Warm, decorator colours welcome you and highlight the 9' ceilings; oversize windows brighten all the rooms. Large deck is accessed from living room and Master Suite. Enjoy your underground heated parking. Playground, and visitor parking on site. Insuite laundry. Kitchen with Chestnut coloured cabinets and raised eating bar. Close to shopping, schools and green spaces.
Monday, February 6, 2012 Calgary Home Prices Up 2.7% From A Year Agoby Tammy Forrest on Mon, Feb, 6, 2012 08:50 PM
Calgary home prices up in January, according to new pricing tool by real estate boards.
Photograph by: Dean Bicknell
CALGARY — The year-over-year value of homes in Calgary increased in January by 2.7 per cent but is trending downward in the short-term, according to a new price measurement tool introduced Monday by several major real estate boards across the country.
The new MLS Home Price Index was introduced by the Canadian Real Estate Association in partnership with Canada’s largest real estate boards — Vancouver, Fraser Valley, Calgary, Toronto and Montreal.
According to the Canadian Real Estate Association, although Calgary’s index is up from last year, it has dipped in the short-term. Calgary’s index is down 0.12 per cent from a month ago, down 0.30 per cent from three months ago and down 0.83 per cent from six months ago. It is also down 3.39 per cent from five years ago.
The index is up 3.32 per cent from three years ago.
In a news release, CREB said the new tool measures how typical properties are valued in the market rather than relying on average and median prices.
“In January, for example, the average price declined year-over-year, but only because more homes were sold in lower-price ranges compared to the previous year when more luxury home sales occurred,” said CREB.
In CREB’s monthly MLS data for January, single-family average sale prices were down 3.34 per cent to $438,683 and condo average prices dropped by 6.86 per cent to $268,526.
CREB said the new index is calculated using a “sophisticated statistical model” that estimates home prices based on their quantitative and qualitative features that are typical to that neighbourhood, such as square footage, number of rooms above the basement level, number of bathrooms and half-bathrooms, whether the property has a fireplace and/or finished basement, lot size or the age of the property, to name a few.
Bob Jablonski, CREB’s president, said the new index “can be used to not only determine pricing trends, but also to gain insight into the typical home in a specific market segment.”
Garth Turner, an author and well-known critic of the real estate industry, said he is concerned the index will be a “smoothing out of statistical data.”
“I’m a little concerned that it will remove from your view and mine monthly statistics, in other words raw monthly numbers . . . I’m just a little bit concerned that it will be easy to hide behind an index which is run through a filter and averaged over a period of time,” he said. “That will mask some of the really important changes in the market that I think are more important now than ever because we’ve reached a position where most people think the housing market is over-valued, inflated and very susceptible to shock.
“By smoothing out the numbers, it’s possible for the real estate community to modify the bubble aspect of the real estate market. It’s also possible for them to mask a decline. And it may send out the wrong signal to people who are looking to these numbers to know whether to make this giant purchase at this time or not.”
But Ann-Marie Lurie, CREB’s chief economist, said in a statement that the index is the best tool to determine true price trends in the market. She said the commonly-used average and median prices can be misleading as they are easily affected by the composition of what is sold.
mtoneguzzi@calgaryherald.com
© Copyright (c) The Calgary Herald
Read more: http://www.calgaryherald.com/business/Calgary+home+prices+from+year/6108753/story.html#ixzz1ldUGedQ Thursday, February 2, 2012 Calgary Home Buyers Show Cautionby Tammy Forrest on Thu, Feb, 2, 2012 01:49 PM
Single-family home sales and average prices dipped in January.
Photograph by: Dean Bicknell
CALGARY - Home sales in Calgary are off to a slow start in 2012 as buyers show continuing caution, says the Calgary Real Estate Board.
According to statistics made public Wednesday by the board, single-family MLS sales in January were down 1.4 per cent from a year ago to 773 transactions while condo sales increased by one per cent to 305 units.
The single-family average sale price of $438,683 was down 3.34 per cent from January 2010 while the condo average sale price dipped by 6.86 per cent to $268,526.
"Overall, the market is behaving as expected for the winter season," said Bob Jablonski, CREB's president."A lower number of sales is not uncommon for the month of January."
He said a slow start to the year is anticipated as consumers continue to be cautiously optimistic when it comes to purchasing or listing their home.
Richard Cho, senior market analyst in Calgary for Canada Mortgage and Housing Corp., said the housing market in Calgary has been gradually improving.
"Current conditions have been favouring prospective buyers. However the market is expected to become more balanced in the months ahead," he said.
Will van't Veld, economist with ATB Financial, said it's probably not too surprising that activity has taken a bit of a dip given we are in the middle of winter.
"Interprovincial migration has yet to really pick up and while international migration to Alberta has picked up significantly over the past couple years, it's not totally offset the decline from interprovincial migrants," he said. "When you combine this with the fact that the unemployment rate for those aged 15-24 is still north of 10 per cent . . . it's not entirely surprising that you're likely not seeing household formations . . . at levels that we were accustomed to during the past decade."
mtoneguzzi@calgaryherald.com
© Copyright (c) The Calgary Herald
Read more: http://www.calgaryherald.com/homes/Calgary+home+buyers+show+caution/6083920/story.html#ixzz1lFufaE8z Wednesday, February 1, 2012 Average Calgary Home Sale Price Fell In January, Real Estate Agent Reportsby Tammy Forrest on Wed, Feb, 1, 2012 12:15 PM
Single-family home sales and average prices dipped in January.
Photograph by: Dean Bicknell
CALGARY — Preliminary, unofficial MLS data shows the average price for both single-family and condo sales in Calgary fell in January compared with a year ago.
According to the website of local realtor Mike Fotiou, of First Place Realty, single-family home sales in January of 773 had an average price of $438,682 and a median of $395,000.
On a year-over-year basis, sales declined by 1.4 per cent while the average price dipped by 3.3 per cent. The median price, however, increased by 1.3 per cent.
Fotiou reported that 15 homes sold for $1 million or more compared with 24 in January 2011.
There were 305 condo transactions in January with an average price of $268,526 and a median price of $245,000.
Year-over-year, sales were up by one per cent but the average price dropped by 6.9 per cent and the median declined by 3.9 per cent.
At first glance, the year-over-year average price drop of nearly $20,000 seems significant, writes Fotiou on his website.
However, in January 2011 there was a record $4.1 million condo sale. If that was taken out, the month-end average price last year would have been $275,627 instead of $288,291.
The Calgary Real Estate Board is expected to release its official MLS data today.
mtoneguzzi@calgaryherald.com
© Copyright (c) The Calgary Herald
Read more: http://www.calgaryherald.com/business/Average+Calgary+home+sale+price+fell+January+real+estate+agent+reports/6083920/story.html#ixzz1l9fuujyO Wednesday, February 1, 2012 I have sold a property at 245 KINGS HEIGHTS DR SE in AIRDRIEby Tammy Forrest on Wed, Feb, 1, 2012 04:04 AM
I have sold a property at 245 KINGS HEIGHTS DR SE in AIRDRIE.
CLASSY & MODERN all in one! This Former SHOWHOME has it all. The SPACIOUS floor plan features HARDWOOD/TILE flooring, MODERN color palette,suspended staircase,Built-Ins,GRANITE counters, custom draperies,9'ceilings and much more. Main floor living offers a GOURMET kitchen with an ABUNDANCE of counter/cupboard space, dark MAPLE cabinets,spacious eating nook,large living/great room with gas fireplace. Built in sound system, large foyer & a 2pce bath. Upstairs living provides a Bonus/media room with VAULTED ceilings and WINDOW SEAT. The Master Retreat has large windows with WINDOW SEATS, walk-in closet and VAULTED ceilings. The 5pce spa ensuite has DOUBLE Sinks,custom cabinetry,TILED shower and an over sized Soaker tub. 2nd and 3rd bedrooms are also ample sized. Large LAUNDRY room with cabinets and sink on UPPER LEVEL. Located in Airdrie's Kings Heights with close proximity to shopping, parks & more. Come see this home today!(Furnished pics from previous showhome)
Tuesday, January 31, 2012 Bidding War Basics For Buyersby Tammy Forrest on Tue, Jan, 31, 2012 02:24 PM
Bidding War Basics For Buyers
By: Viviane Kertesz
When you’ve found that perfect little house you'd like to call your home, the last thing you want is to have to compete with other potential buyers. But bidding wars — especially in hot real estate markets and urban centres — are more of a reality now than ever. So what do you need to know to stand the best chance at signing on the dotted “sold” line? Winning a bidding war is always a roll of the dice, but read on for the real deal on how to prepare before entering the multiple-bid realty trenches.
Loan Logic
Get pre-approved for a mortgage so you know the maximal financing available to you. By pre-qualifying for a loan, you’ll not only be aware of your offer’s ultimate ceiling, but you’ll shop around — and bid — accordingly. Speak with a broker to evaluate your options before you settle. A thumbs-up from the bank, along with agreeing to put down the biggest deposit or downpayment you can afford, can also help establish to sellers that you’re serious about buying their property.
Keeping Up with the Joneses
You don’t have to actually keep up with the Jones family, but when it comes to the houses you’re serious about bidding on, you do need to be aware of comparative market analysis. In other words, do research to learn what the fair market value for any house you’re interested in is considered to be, as well as the fair market value of similar houses that neighbour them. Real estate websites are good resources to get a sense of what's out there. When you find out what comparable houses to the ones you’re looking at are going for, you’ll know if you’re shopping way beyond your means, or well within it. Knowing the current market value a house will fetch may also help you determine what you think other bidders will offer, to in turn establish the bid you want to make.
Play Clean
Don’t add unusual requests, terms or conditions to your bid, like, for example, buying someone’s home on the basis that you’ll first sell yours. Additional clauses contingent upon any extenuating circumstances can cause headache to vendors, who may have another offer at the exact price you’re tendering, but one without any loopholes. Which one would you choose? By nixing the contingency plan and making a “clean” or firm offer, you stand a better chance at getting what you want.
Inspect the Goods
Set aside a fund for pre-buy home inspections, which should cost about 1 per cent of the house’s asking price. This is often money well spent. If it turns out that the house you think you want to buy has a roof that’s about to fall in, better to know before you bid — especially since it might make you look twice at a very similar piece of property around the corner that is going for the same asking price, but with, for example, a recently renovated roof. Consider setting up a home inspection fund in case you end up in a bunch of bidding wars on houses lost to other buyers, since you’ll also have lost your home-inspection fee.
Don't Get "Fluffed"
Fancy art, furniture that’s moving out with the homeowner and gorgeous draperies may make a formerly drab house look fab, but none of those things will be there when you buy the house. As soon as the showing’s over, the homeowner may well ship that Persian rug back to the prop rental store it was leased from. Also, the drama in the colour of the paint in the living room, dining room and bedroom might look impressive, but might not suit your furniture…at all. Just because a house may show famously, doesn’t mean it’s the right one for you. Make sure you’re not being taken in by the smoke and mirrors of objects that are not part of the home’s innate architectural charm.
Uneven Steven
Don’t bid $250,000 on a house whose asking price is $250,000 when you’re in a bidding war and your budget could easily permit you to extend $251,200. It may seem as though bidding an odd number would make little difference, but not only will your bid stand out from the rest, it may just beat an offer that came in at a slightly lower figure with a more common-sounding bid.
Revisit Kansas
Try to go back to see the house that seemed so magical to you on first viewing more than once — and more than a couple of times, if possible. One reason is that what strikes you as a great first impression may make a poorer second or third impression. Another reason is that more than a few sentimental homeowners have sold their house to a young family that somehow reminds them of themselves when they were starting out. Often, if you are able to meet the homeowner and they establish a connection with you, they may look upon your offer more favorably than that of another bidder — even if your competitor’s bid is higher.
Pull the Trigger
Try to figure out the vendor’s “trigger” — what it is that would make them sell. If you know that the homeowner has a certain closing date in mind which differs slightly from yours, offer to meet their ideal terms — sometimes this is all it takes to be selected over another bidder, even if the competing offer is higher. If you can afford to, add incentives like agreeing to pay all closing costs. And if you know the sellers are not looking forward to moving their weighty piano or basement-assembled pool table because it’s expensive to move and the closing date is tight, inquire about buying it to see if that will sweeten the deal.
Hide Your Hand
Bidding wars are a lot like gambling — the stakes are high and a lot of luck is involved. Rather than trying to figure out how much you can afford to bid without breaking the bank, try to strategically figure out the highest competing bid you’re trying to beat. If you don’t have finely honed psychic abilities, what helps is knowing the true value of the house. Let’s say you’re pre-approved for a $400,000 loan and the house you’re interested in bidding on would, according to your realtor’s estimation, be fairly priced at $350,000 as compared to other similar houses in the same ’hood. If you know that the homeowners are not accepting offers ’til Saturday, and have listed the asking price at $345,000, and then find out Saturday that there are two other offers, think about what those two other offers might be. You may be smart to bid higher than their asking price and more than fair market value but still less than $400,000.
Know Right from Wrong
In the end, don’t get caught up in the excitement of bidding. There’s an age-old maxim: “buy the most expensive house you can afford.” This is a savvy real estate suggestion, because if you can afford a $325,000 three-bedroom home but instead settle for a $275,000 one-bedroom home thinking you’ve saved some money, you could regret it sooner than you think. Consider that if you need that extra bedroom space — like if you and your partner decide to have kids — you’ll be looking to buy a new house, sell your current living space and move house in a relatively short period of time. It’s just common sense to make the highest offer you can afford that you’re comfortable with. Every time you visit a new property ask yourself: Is this the wrong house? That’s right, the wrong house. Rather than falling blindly in love with any given dwelling, play devil’s advocate with yourself, scrutinizing how the house you’re looking at right now is any different from the one around the corner that you just looked at. In bidding wars, there’s a grave danger of overpaying if you get swept up in the auction-like fray — know when to fold ’em, walk away and run.
So before you engage in battle, arm yourself with credit pre-approval, a little research, an arsenal of financial strategies, heightened market value awareness and a great realtor. Then cross your fingers and go forth to find your own home sweet home. Monday, January 30, 2012 Selling on a Cureby Tammy Forrest on Mon, Jan, 30, 2012 03:07 PM 
- Every 69 seconds, a woman dies of breast cancer. Thats why the Forrest van der Linden Storey donates to Selling On A Cure to support the fight against Breast Cancer.
Saturday, January 28, 2012 I have sold a property at 40 5520 1 AVE SE in CALGARYby Tammy Forrest on Sat, Jan, 28, 2012 04:26 AM
I have sold a property at 40 5520 1 AVE SE in CALGARY.
UPDATED and WELL Maintained! This 3 bedroom, 2 bath condo backing a green belt with playground is a MUST see! The main floor offers a SPACIOUS living room with gas fireplace and patio doors leading to a PRIVATE fenced yard, hardwood floors, a FUNCTIONAL kitchen with UPDATED appliances & countertops, as well as a renovated 2 pce bath. Upstairs you will find a LARGER Master bedroom with abundant closet space and two other nice sized bedrooms, Upgraded flooring throughout, along with a newly renovated 4pc bath. Basement is partially developed with plenty of room for a media/rec/2nd living room. Exterior Reno's include new windows and siding, as well as a new roof 2 years ago. Comes with 2 parking stalls located right out your front door.
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