"Advice would be more acceptable if it didn't always conflict with our plans."

Saturday, June 11, 2011 - Calgary house price growth forecast

Calgary house price growth forecast 5% to 7% year-over-year growth in short termPosted on May 31, 2011 Calgary can expect five to seven per cent year-over-year house price growth in the short term, according to the Conference Board of Canada. In its Metro Resale Index, released Tuesday, the board said the average residential price in Calgary in April jumped to $407,900, up from $393,427 in March and from $395,468 in April 2010. But the annualized rate of sales dropped in April to 21,312 which i ... Full Article...

posted in News at Sat, 11 Jun 2011 13:07:03 -0600

Saturday, June 11, 2011 - CALGARY & AREA STATS UPDATE (June 1 - 8, 2011)

CALGARY & AREA STATS UPDATE (June 1 – 8, 2011) 2011 2010 Calgary Metro – Single Family Sales 399 310 New Listings 791 853 Inventory 4,826 5,935 Sales to New 50% 36% Sales to Inv 8% 8% Calgary Metro – Condominium Sales 176 136 New Listings 283 358 Inventory 2,134 2,731 Sales to New 62% 38% Sales to Inv 8% 5% Towns (Outside Calgary) Sales 110 91 New Listings 278 303 Inventory 3,128 3,037 Sales to New 40% 30% Sales to Inv 4% 3% Country Residential – A ... Full Article...

posted in News at Sat, 11 Jun 2011 13:02:38 -0600

Wednesday, March 2, 2011 - CALGARY'S HOUSING MARKET RECOVERY CONTINUES AT A GRADUAL PACE

CALGARY’S HOUSING MARKET RECOVERY CONTINUES AT A GRADUAL PACE Calgary single family home sales increase over the previous month and year-over-year Calgary, March 1, 2011 –According to figures released today by CREB® (Calgary Real Estate Board), for the second month in a row, single family home sales in the city of Calgary increased over previous month figures and levels recorded in February 2010. The rise in sales continues to point to a gradual recovery in Calgary’s housing ... Full Article...

posted in News at Wed, 02 Mar 2011 10:36:18 -0700

Thursday, February 24, 2011 - Alberta is officially most affordable province in the country for home ownership and affordability i

CALGARY - Alberta officially became the most affordable province in the country for home ownership in the fourth quarter of 2010 and affordability in Calgary is now the best it's been in almost six years, says a new report released Thursday by RBC. The Housing Trends and Affordability report said a gradual but steady recovery in housing demand in the past half-year has just begun to bolster market conditions in the Calgary area by drawing the prolonged slump since 2007 closer to an end. In Ca ... Full Article...

posted in News at Thu, 24 Feb 2011 09:50:54 -0700

Wednesday, February 2, 2011 - ALBERTA'S ECONOMY SET FOR STRONG GROWTH IN 2011

ALBERTA'S ECONOMY SET FOR STRONG GROWTH IN 2011 WITH BOOST FROM ENERGY SECTOR: RBC ECONOMICS TORONTO, Dec. 15 /CNW/ - Alberta's economy continues to recover from its severe recession with real GDP set to grow 3.4 per cent in 2010 and then galloping to a solid 4.3 per cent in 2011, according to the latest Provincial Outlook report from RBC Economics. In 2011, RBC projects that Alberta's economic growth will be second only to Saskatchewan, representing the fastest growth in the province since 20 ... Full Article...

posted in News at Wed, 02 Feb 2011 11:21:02 -0700

Sunday, October 24, 2010 - Bank of Canada holds key rate at 1%

Bank of Canada holds key rate at 1% The Bank of Canada held its target for the overnight rate at one per cent on October 19th, 2010 after having raised it by a quarter of a percentage point in June, July and September. Correspondingly, the Bank rate remained steady at 1.25 per cent and the deposit rate remains at 0.75 per cent. The Bank advised it was cutting its outlook for economic growth and inflation due to government spending cuts and weakening consumer spending. Recognizing the housing ma ... Full Article...

posted in News at Sun, 24 Oct 2010 07:44:16 -0600

Monday, September 27, 2010 - One in five Alberta repeat homebuyers are going house hunting for homes they don't plan to live in,

CALGARY - One in five Alberta repeat homebuyers are going house hunting for homes they don't plan to live in, says a report released today. Compared to other Canadians, Albertans are twice as likely to be looking for a vacation home (13 per cent versus five per cent nationally) and another six per cent are looking to buy a rental property, said the TD Canada Trust Repeat Home Buyers Report, which surveyed Canadians who have either purchased or intend to purchase a home that was not their first ... Full Article...

posted in News at Mon, 27 Sep 2010 07:55:02 -0600

Thursday, September 2, 2010 - Calgary Housing Market in a Period of Correction

Calgary, September 1, 2010 – Home sales in the city of Calgary continued to trend lower in the month of August, according to figures released today by the Calgary Real Estate Board (CREB®). The number of single family homes sold in August 2010 in the city of Calgary was down 32 per cent from the same time a year ago, and condominium sales saw a decrease of 42 per cent from the same time a year ago. August 2010 saw 867 single family homes sold in the city of Calgary. This is a decrease o ... Full Article...

posted in News at Thu, 02 Sep 2010 12:07:42 -0600

Thursday, August 12, 2010 - Calgary is poised to outperform the average by a wide margin

Jesse Kinos-Goodin, Financial Post • Sunday, Aug. 8, 2010 When investing in real estate, sometimes it’s necessary to look beyond your own backyard. The Real Estate Investment Network (REIN), a national organization of investors, has compiled what it says are the top 10 Canadian cities in which to invest. Few are major cities and some are surprising. Don Campbell, president of REIN, as well as one of the researchers on the study, says the results are based on factors such as planned ... Full Article...

posted in News at Thu, 12 Aug 2010 08:59:09 -0600

Wednesday, July 7, 2010 - Toronto woman paying for mortgage fraud

A Toronto woman is being ordered to pay RBC $95,000 after failing to realize she was being tricked into a mortgage fraud. Angela Isaacs accepted $6,000 to co-sign a stranger's mortgage and signed the documents without reading them, reported the Toronto Star. Madam Justice Anne Molloy of the Ontario Superior Court of Justice also decreed that Isaacs owes 6.3 per cent annual interest on the $95,000 loss from June 26, 2008 until the debt is paid and, within 30 days, $13,500 of the bank's legal ... Full Article...

posted in News at Wed, 07 Jul 2010 10:45:35 -0600

Friday, July 2, 2010 - Mortgage trends cool Calgary home sales

First-time Homebuyers Retreat As Luxury Buyers Advance Mortgage trends cool Calgary home sales Calgary, July 2, 2010 – Calgary home sales continued to show a marked year-over-year decline in the month of June, according to figures released today by the Calgary Real Estate Board (CREB®). The number of single family homes sold in June 2010 in the city of Calgary was down 42 per cent from the same time a year ago, and condominium sales saw a decrease of 40 per cent from the same time a year ... Full Article...

posted in News at Fri, 02 Jul 2010 18:08:13 -0600

Friday, June 25, 2010 - Alberta man jailed for multi-million mortgage scam

Alberta man jailed for multi-million mortgage scam Thursday, 24 June 2010 An Alberta man was sentenced to three years in prison for a $3.9-million rural mortgage scam that included 32 separate fraud charges over two years. In the Edmonton courtroom on Wednesday June 23, Eugene Charnczuk, 40, was also ordered to pay approximately $1.3 million to the Canada Mortgage and Housing Corporation, Genworth Financial, CIBC and TD Canada Trust, reported the Edmonton Sun. "White-collar crime is a ser ... Full Article...

posted in News at Fri, 25 Jun 2010 12:37:09 -0600

Thursday, March 18, 2010 - Calgary Market

Housing affordability in Alberta improves, bucks national trend By Mario Toneguzzi, Calgary HeraldMarch 15, 2010 Housing affordability improved in Alberta in the fourth quarter of last year amid slower economic recovery, compared with other regions across the country, according to the latest housing report released today by RBC Economics. "The downturn in the housing market has created a large surplus of homes available for sale. This has held back the pace of price increases in the province ... Full Article...

posted in News at Thu, 18 Mar 2010 08:57:08 -0600

Tuesday, March 2, 2010 - An expected rise in interest rates to fuel an active spring market

Calgary Housing Market Shows Signs of Balance, not Bubble An expected rise in interest rates to fuel an active spring market   Calgary, March 1, 2010 – Calgary’s housing market continues to build stability and momentum in the second month of the year, according to figures released today by the Calgary Real Estate Board (CREB®).   The number of single family homes sold in February 2010 in the city of Calgary was up 25 per cent from the same time a year ago, while condominium sa ... Full Article...

posted in News at Tue, 02 Mar 2010 06:49:53 -0700

Monday, February 1, 2010 - Affordability Drives Calgary's Housing Market

Affordability Drives Calgary’s Housing Market With rising interest rates on the horizon buyers will see 2010 as the year to take advantage of low mortgage rates   Calgary, February 1, 2010 – Affordability continues to drive a recovery in Calgary’s housing market according to figures released today by the Calgary Real Estate Board (CREB®).   The number of single family homes sold in January 2010 in the city of Calgary was up 39 per cent from the same time a year ago, while cond ... Full Article...

posted in News at Mon, 01 Feb 2010 22:47:26 -0700

Wednesday, January 6, 2010 - Housing Recovery Continues with Active December Market

Housing Recovery Continues with Active December Market Year-over-year sales increase for seventh consecutive month Calgary, January 5, 2010 – The Calgary housing market continues to show signs of a sustained recovery according to figures released today by the Calgary Real Estate Board (CREB®). The number of single family homes sold in December 2009 in the city of Calgary was up 78 per cent from the same time a year ago, while condominiums sales saw an increase of 66 per cent from the same ... Full Article...

posted in News at Wed, 06 Jan 2010 11:24:52 -0700

Tuesday, November 3, 2009 - Calgary Housing Market Rebound Continues

Calgary Housing Market Rebound Continues Home prices edge upwards as demand holds steady Calgary, November 2, 2009 – The Calgary housing market continued to rebound in October, according to figures released by the Calgary Real Estate Board (CREB®). “Calgary’s housing market has clearly turned a corner,” says Bonnie Wegerich, president of CREB®. “We expect there to be a few bumps on this road to recovery but we believe the worst is over. Home prices have held firm ... Full Article...

posted in News at Tue, 03 Nov 2009 07:33:08 -0700

Monday, October 26, 2009 - Bank of Canada

OTTAWA - Canadian consumers appear to have their "mojo" back, and if all goes according Bank of Canada governor Mark Carney's plan, they'll be the key to Canada's economic rebound. "Consumer demand is going to be at the heart of this recovery," Carney said at a news conference in Ottawa on Thursday following the release of the bank's quarterly monetary policy report. Carney foresees consumer spending expanding considerably, helping to lift the economy from the depths of the recession in the sec ... Full Article...

posted in News at Mon, 26 Oct 2009 19:35:10 -0600

Tuesday, October 20, 2009 - Bank of Canada maintains overnight rate

Bank of Canada maintains overnight rate target at 1/4 per cent and reiterates conditional commitment to hold current policy rate until the end of the second quarter of 2010 OTTAWA - The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is unchanged at 1/2 per cent and the deposit rate is 1/4 per cent. Recent indicators point to the start of a global recovery from a deep, synchronous recession. Global economic and financial dev ... Full Article...

posted in News at Tue, 20 Oct 2009 19:12:55 -0600

Friday, October 2, 2009 - Calgary Home Prices Show Signs of Stability

Calgary Home Prices Show Signs of Stability Recovery Continues in Calgary Housing Market Calgary, October 1, 2009 – Calgary home prices show signs of stability as recovery in the housing market begins to take hold. The average price of a single family Calgary metro home in September 2009 was $459,085, showing an increase of 1 per cent from August 2009, when the average price was $454,130, and showing an increase of 3 per cent from September 2008, when the average price was $444,048. The ... Full Article...

posted in News at Fri, 02 Oct 2009 07:46:09 -0600

Thursday, May 7, 2009 - BC Court rules Phony Mortgages are Banks problem

Lenders beware: Phony mortgages are the bank’s problem, court rules B.C. Court of Appeal says owners of properties hit by fraud don’t have to pay Homeowners can rest easier, but lenders may be scrambling after British Columbia’s highest court ruled in favour of the owners and left lenders holding the bag if someone fraudulently takes out a mortgage on property they don’t own. In two decisions released this week, the B.C. Court of Appeal said mortgages placed on property ... Full Article...

posted in News at Thu, 07 May 2009 12:15:07 -0600

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The most common question I am being asked lately is "do we sell first and then buy or buy first and then sell? " While I am always being asked this question I think what the real question is "If we sell first, will we be able to find a house we love or are we going to be stuck with settling for something that's just ok".  I have always been a careful person.  Both with my client's money and my own.  Too many times I have seen people sell their house for less than they should because they've purchase another home already.  In the last year I've sold a couple of homes that the current listing realtor wasn't able to sell and now the sellers are ünder the gun" to get their house sold because possession is just around the corner on their new house!  

I always believe in SELLING FIRST!  First of all, you don't know what possession date you need on the house you are buying until you figure out what the possession date will be on the house you currently live in.  Secondly, you don't know how much money from the sale of your current house you are going to be putting down toward your next house.

Although the market has picked up a bit in the last year or so, we are still in what I consider to be a buyer's market.  Because most people are selling first and then buying, the sellers of the house you are buying know this and they understand if you need a quicker than normal possession.  How quick of a possession can one expect when putting in an offer on their next home?  1 month.  Usually that's the minimum.  If the house is vacant, then obviously the sellers would be delighted for a quick possession... say two weeks?  In fact vacant homes are often open to a market where occupied homes cannot go and that is:  immediate possession!  When the house is vacant, the buyer can opt for a possession date of their choosing.  So to summarize:  sell first.  If you see a house you like and its seller occupied... just ask for the possession date you want... chances are you will get it!  If you are a seller and are concerned about selling your house vacant - don't be.  Check on the house daily during the winter months to monitor the furnace and hot water tank as well as shovelling the drive way but honestly sellers LOVE vacant houses.

When the market changes and it becomes a seller's market.... I'll let you know.  Then you are cosiderably safer to buy first and then sell... but until then... PLAY IT SAFE!  Don't get emotional!  Sell first.  Trust me... I'll find something you love!  Dory