Alberta politicians take aim at the mortgage stress test

Alberta politicians at both the provincial and municipal levels have recently spoken out against Canada’s mortgage stress test.

First, United Conservative Party leader Jason Kenney told REALTORS® at CREB®’s annual forecast event on Jan. 30 that his party would call on Ottawa to eliminate the mortgage stress test if elected.

Then a notice of motion was brought forward by Ward 5 Coun. George Chahal, which called for the mayor to ask the federal government to review the stress test and how it is applied, was passed unanimously by the city council. Chahal says the federal government should tailor the policy to regional market conditions.

“I’M CONCERNED ABOUT THE DREAMS AND ASPIRATIONS OF HOMEBUYERS.” – GEORGE CHAHAL, WARD 5 COUNCILLOR

“Over the last year, we’ve seen a significant impact of the stress test on our local market and we’ve seen a significant decline in the local real estate market, (including) significant job losses and layoffs in the construction sector over the course of the year, and I think there’s more to come,” he said.

“I’m concerned about the dreams and aspirations of homebuyers. … There may be no better time to purchase a home in the marketplace than today, with low-interest rates and with housing prices that are quite affordable compared to many other major cities in Canada.”

The stress test was implemented over a year ago to ensure homebuyers could still afford to pay for their mortgage if interest rates rose. It was a measure designed to address high debt levels among Canadians, and many experts say its main targets were the hot real estate markets in Toronto and Vancouver. However, the effects have been felt across the country, with many economists and housing market experts agreeing that MLS® System sales have been impacted since the test came into effect.

“BILD Calgary Region wholeheartedly supports this motion and applauds Calgary city council on taking these steps to ensure our region is in the best competitive position to attract both investment and residents to our city while improving our tax base,” said Brian Hahn, CEO of BILD Calgary Region.

James Cuddy, a senior market analyst with Canada Mortgage and Housing Corp., said the mortgage stress test has had an impact on the housing market in Calgary but other factors have also played into lower demand here, such as continued uncertainty in the economy and higher interest rates.

MAP OF CALGARY & SURROUNDING AREAS

ANOTHER HAPPY REFERRAL CLIENT

Many thanks to you Rosalie for your confidence in me and the clients you continue to refer.

These first-time home buyer tips will help you through this exciting venture.

First-time home buyer tips. Must-read for a first-time home buyer!

First-time home buyer tips are a necessity for you to enjoy an uneventful transition into home ownership. The following info will shed some light on the steps and protocol to follow. Especially on your first purchase and the biggest acquisition you will make in your life, this is important.

Must-read for a first-time home buyer

Acquiring real estate property for the first time in your life is a critical and exciting step. For it to go smoothly and confidently, you have to be well-prepared. Practical matters such as hiring a real estate expert and choosing the home of your dreams are crucial. Access to all available relevant information regarding loans, grants, etc. is also vital. This article will give you some insight into Calgary's real estate market.

First-time home buyer tips available to everyone

Currently, first-time home buyers enjoy excessive recognition from almost everyone, starting with the government. These programs carry right through to real estate agents and all the media information. Many are offering help and support for those who decide to embark on this remarkable journey called homeownership. Now seems the perfect time to fulfill your dreams and make the big step into independence.

• The Canadian government offers some programs exclusively for first-time home buyers. If you know how and where to access this info, you will find things here to assist you.

• There are three more popular first-time home buyer programs supported by the Canadian government. Below you will learn more about them.

• In fact, the Home Buyer’s Plan (HBP) offers you a great opportunity to use your RRSP contribution. It presupposes that a first-time home buyer can withdraw up to $25,000 from their retirement account. ($25,000 per spouse, $50,000 in total). Of course, there are some restrictions on the withdrawal process. You can access the contribution only if you deposit a minimum of 90 days prior. Otherwise, you will have to wait for the 90 days to pass if this is your only source of downpayment.

Additional resources

• There is another attractive and helpful initiative from the government which is called Energy Efficient Housing, (EEH). Everyone, who enjoys the beauty of Canada’s nature and also cares about its preservation, will appreciate this one. It is the perfect opportunity to save money on the one hand. On the other, you will have access to “green” monies to buy your home. What’s more, you will join the ever-growing community of eco-friendly homes.

• Specially created for those who have not owned a house before, you can receive special credits from the government of Canada. The program is called First-Time Homebuyer’s Tax Credit. The amount of credit is $5,000. Values are multiplied by the lowest federal income tax rate for the year in which you are implementing it.

Tips that you as a first-time home buyer should know

Imagine yourself in your first home, all comfy and cozy.  It’s the sanctuary where you rest & unwind after a hectic day at work. Now, pause for a moment & think about the steps you need to take to achieve this dream.

• First of all, analyze and gather as much information as possible about real estate in your area. Nowadays, it’s the Internet era, and there should be no problem accessing several reliable sources to get you on your way.

• Find a real Realtor you are comfortable with who understands your preferences and will represent only your best interests. It is crucial to have such a Realtor in place. Thus they will represent “your” best interests.

• The home you choose should fit within your budget, and the lender guidelines will assure you do not exceed that.

• If you want to participate in any credit program to assist you in your purchase, make sure you are eligible to participate. Also, get pre-approval for your mortgage through a mortgage broker.

• Mortgage brokers should be able to map out your ongoing monthly mortgage obligations in advance. Invaluable knowledge, hence, you can set your overall budget for a comfortable lifestyle.

What is homeowner’s insurance?

With home ownership in place, it’s time to put measures in place to protect your investment. Homeowner’s insurance is the tool that shields your new property from the unexpected. Many companies offer homeowner’s insurance providing different ranges of coverage and other supplementary services. One of the main advantages of this insurance is that it covers your belongings. Consequently, in the worst-case scenario such as flood or fire, you are covered.

What is a real estate agent entitled to?

The first thing you need to remember when you enlist the services of a Realtor. Realistically, this person is your partner until you close the deal, finalizing the transaction.  Sequentially, while you are looking for the right home, signing documents and finally, closing the deal, you are allies. From start to finish your real estate agent is your front-and-center representative in the real estate arena. In turn, the following is a list of what a real estate agent may be entitled to upon closing the deal;

• A fee of 3.5% of the first $100,000 and 1.5% on the balance of the sale price

• 5% GST on top of the fee

• NOTE: The seller usually pays commissions. There are no set or fixed fees on real estate transactions. Thus all fees are negotiable.

Real estate development in Canada

More and more people are coming to Canada, and Calgary in particular, to reside. The attractive environment quickly explains such a wave of newcomers to business and lifestyle. The government of Canada actively supports real estate development initiatives. It elaborates on new programs for first-time home buyers, thus, creating opportunities for home ownership. Another element to factor in is the stability of the real estate market and the constant economy. All this adds up to a general depiction of why so many people are looking for Calgary to call home.

Government assistance for first-time home buyers

The positive real estate climate in the country supports the governmental bodies to attend to the needs of its citizens. It also strengthens the country’s economic engine via real estate. The most popular first-time home buyer programs initiated by the government of Canada are listed above. All in all, these programs show that the government is always working on behalf of its citizens.  These programs create versatile opportunities which include real estate investment.

Canada’s federal housing agency

Primarily, the responsibility of this government body is housing. It has a history of more than 70 years of assisting Canadians with their real estate pursuits. This institution offers advice, analysis, and research on Canada’s real estate market. It significantly contributes to the employment of many government workers throughout Canada. Canada’s federal housing agency helps Canadians acquire new homes and create prosperous communities to enjoy living in. Such government initiatives will only continue to develop and promote the real estate industry in all regions.

Every day we tend to cooperate with different agents or experts in their fields. For example, we visit a shop and approach a shop assistant or a consultant to give us a piece of advice on which product to choose from. Monthly or more, we go to the hairdresser and trust him/her with our appearance. Why do we do that? Aren’t we so great and masterful that we can do everything on our own?

CIR Realty – your insider in the real estate world

The answer is quite evident. Thus we always want to get the best service and results possible. Ways to achieve this – is to cooperate with real experts who can share their knowledge, experience and valuable tips with you. The real estate sphere is no exception. Being a jack-of-all-trades is no longer the fashion. So, real estate agent, Ron Christensen with CIR Realty is always available to assist you.

The reasons why you will benefit from partnering with Ron Christensen of CIR Realty:

1st – CIR Realty is the real estate agency others look up to and try to model by for the best techniques and approaches. With this replica, you can be confident that you are working with the best real estate agents in Calgary.

2nd – the network of our real estate agents grows every year. CIR Realty brings on board only like-minded and proactive real estate agents.

3rd – at CIR Realty you will receive an individual approach with attention to details that matter so much to you.

4th – real estate agents with CIR Realty have the best access to both listings and buyers. With this, you are assured of getting the most beneficial service in the market. High-quality service is crucial not only for you but also for all the staff of CIR Realty. We cherish our clients along with our reputation. This kind of approach is a cornerstone in providing the most efficient and result-oriented real estate services possible. After all, a happy client is a referring client.

What fee is a real estate agent able to charge?

Costs are a tricky area, and almost everyone is always afraid of paying too much or being deceived. Some try to save on realty fees and still expect to get the highest quality services at the same time. You know that nobody has ever managed to kill two birds with one stone. This kind of attitude with respect to paying “discount” real estate fees will usually backfire on you.

How does it work?

The average real estate agent’s fee in Calgary is 7% on the first 100,000 and 3% on the balance on the majority of listings. Understand that all of the 7% & 3% do not go straight to your Listing Realtor. The fact is, that he/she receives only half of this amount, (3.5% & 1.5%) from which office fees and expenses are deducted. The other half goes to Buying Realtor, who brings the buyer to you. Note: There is no set or standard real estate fee. So it is quite logical if you reduce the fee of your Listing Realtor, it will be quite demotivating for the Buying Realtor on the other side.

People’s natural behaviour is such, and we know that everyone wants to get fair remuneration for their professional services and time spent to achieve their mutual goal – be it either selling or buying a house. Ron Christensen’s fees since 1987 have always been 7% on the first $100,000 and 3% on the balance of the sale price. If you are looking for a “discount Realtor” with discounted services, Ron Christensen is probably not the real estate agent for you. Hopefully, these tips have clarified the question of real estate agent fees in Calgary, and we can move on to another important point.

There are so many real estate agents, how to find THE ONE

Simply imagine that you have finally decided that you want to buy or sell a property. What is next? There are multiple service offers out there making you feel somewhat puzzled, and you can’t decide on the next step. Not to worry; you now require the assistance of a professional real estate agent. However, there are so many of them out there on the Internet. Everyone claims: “I’m the best! Choose me”! For you not to get lost in this commotion of information, Ron Christensen recommends you use the Calgary Real Estate Directory of Local Experts.

Want to know why?

• Initially,  you will be immediately connected to the best real estate professionals available in the region of Calgary.

• Your agent will address all your estate-related problems as soon as you make your decision.

• The Calgary Real Estate Directory provides the most comprehensive and up-to-date information on every registered agent. You can read the feedback and ensure that you are choosing an associate who will be comfortable for you to collaborate with and to communicate with simply.

• You can’t imagine what predicaments some people who decided to work with not-recognized agents, have encountered. Eventually, they ended up with a professionally proven and recognized industry leader to complete their deal. We always wonder, “Why didn’t they come to us at the very start”?

• You will not be adversely surprised and subjected to any additional expenses, as everything is pre-approved and discussed with you, upfront.

With all this and much more, CIR Realty agents are always available to assist you. We will give you a free consultation, then start working on your deal and achieve the outcome you expect. All this is possible because we tend to have an individual approach to every one of our clients. We’ve proved time and time again, to bring the best quality of service to all of our satisfied customers.

Education is one of the most powerful selling techniques in real estate

Some say that you can be successful in the real estate sphere simply by wearing a clean suit and tie. Others believe that you just have to have great charisma. Some are of the opinion that you need to be a chatterbox with a broad smile. The real estate agents like Ron Christensen of CIR Realty actively claim that one of the key elements in a real estate agent’s success is his/her education. Therefore, we take great pride in the training aspect of our Calgary real estate agents like Ron Christensen of CIR Realty. There is a mandatory provincial Real Estate Course for those who endeavour to become a licensed realtor. Training ensures that licensed Realtors are true professionals in their market, and the quality of services real estate agents provide only gets higher.

Do you like doing chores?

Dust and dirt are inevitable consequences of buying or selling a house. There is probably no one person who likes dealing with it on one’s own. It is usually better to trust such an important task as cleaning and preparing your house for sale to professionals. Grizella is one of the several companies that provide just such excellent cleaning services at reasonable rates. Years of history have proved that this agency keeps up with excellent standards and can help you, not only through initial cleaning but also with ongoing maintenance until your home sells.

Now hopefully you have a better insight to help you facilitate your choice for the right real estate associate. Ron Christensen of CIR Realty in Calgary is one of those proven experts who can assist you through the complete buying or selling process. Call or text Ron today at 403-861-7770 or email, ron@ronchristensen.info.

A Calgary detached home purchase income guide 

Many would-be homebuyers find the home of their dreams, only to wonder, “Can I afford it?” Canada Mortgage and Housing Corp., as well as many major banks, recommend spending no more than 30 percent of income on housing, including mortgage (principal and interest), property taxes, insurance and utilities. To help, we did the math for a typical detached home in each region of the city.

City Centre

• Required Down Payment: $34,461

• Recommended Household Income: $155,760

North East

• Required Down Payment: $18,738

• Recommended Household Income: $87,520

West

• Required Down Payment: $36,653

• Recommended Household Income: $165,240

South

• Required Down Payment: $23,670

• Recommended Household Income: $108,920

North

• Required Down Payment: $21,529

• Recommended Household Income: $99,640

North West

• Required Down Payment: $26,971

• Recommended Household Income: $123,240

South East

• Required Down Payment: $22,411

• Recommended Household Income: $103,440

East

• Required Down Payment: $17,539

• Recommended Household Income: $82,280

*All calculations assume a five percent down payment

(which necessitates mortgage insurance), a 25-year amortization period, a 3.50 percent mortgage rate and no outstanding debts. Estimated property tax, home insurance and utility cost values are factored into the calculations (via www.ratehub.ca/mortgage-payment-calculator). Recommended income is based on the calculation of housing expenses (mortgage, utilities, property tax and home insurance) as 30 percent of gross income. YTD Benchmark Prices are accurate as of Sept. 1, 2018.

Calgary real estate brokerages specialize in either residential, commercial or industrial real estate. Many of these companies have special divisions for each of these areas. Surfing the net, you will come across many real estate brokerages in Calgary. In this article, you will learn a bit more about the nature of companies. Also, how you can benefit from cooperation with such enterprises. Thus, you will not only understand how to choose a brokerage company but also what services they offer to their clients.

Calgary real estate brokerages

About real estate brokerages?

All of us are aware that numerous brokerage companies exist and many are very popular. Some are considered a better choice while others are not such great representatives of the real estate industry. Regardless, we all know that they take our money for their services. So, What do they do for these professional service fees? Brokerage companies serve as mediators between those who want to sell a property and those wanting to buy it. You may ask – So why can’t buyers and sellers get together and facilitate the deal? The following should enlighten you on why not. If real estate transactions were simple, brokerage companies would not exist. There is a valid reason why we, in the majority of cases, cannot conduct real-estate transactions without them.

Real estate brokerage responsibilities;

The primary liability of any real estate brokerage is to make their clients’ lives easier by facilitating their real estate transactions. If it were not for real estate agents, we would have to deal with all the complicated legal document-related issues as one example. So, in itself, this could cost us significantly if not done accurately. We also would have to browse through enormous volumes of information and listings. To separate the ones to discard immediately and those worth considering. Real estate agents can do all this at first glance, which simplifies the mundane task for us. Thus, Realtors save us time and lower our anxiety by providing only the relevant options that we have previously discussed.

Brokerage companies’ mission

In addition to all the responsibilities mentioned above, brokerage companies aim to safeguard their clients in all regards. Brokerages start with finding the right property right down to closing a successful deal. If you have a real estate agent friend, he/she can tell you plenty of weird stories. Such stories will include those, who in the beginning decided to be in charge of the entire procedure themselves. Thus, in the end, with less than the desired outcome, they resorted to professional brokerage companies to assist them. All situations are unique and can even range from fraud to territorial disputes. Real estate brokerage agents are there to control these conditions. Also, to advise you on all real-estate-related issues and prevent devastating hardships.

How not to get lost in the diversity;

So, now probably the most exciting and significant part of the article. If you are reading this right now, you are presumably considering buying or selling a property. No doubt, you have already browsed the Internet and come across dozens of Calgary brokerage companies. So, now you are sitting somewhat puzzled and trying to decide what agency is your best choice. Who will help you close the deal with the most sustainable value combined with unrivalled expertise?

Here are the guidelines that will help you reach the right decision:

• Make a list of real estate brokerages. You will find hundreds of them online. Now, choose only ten or fifteen of the top ones in your search engine rating.

• Outline the services they provide. Open a separate spreadsheet and fill in the services you come across on every brokerage company’s website.

• Evaluate their customer service. You can do this by reading the feedback on their website or only Google such information. There are plenty of comments when brokerages or associates attempt to mislead or deceive the public. Such commentary is helpful because this warns others about a potential nightmare.

• Compare the fees they charge and what services you’ll receive from them. Such info is not always available online. If not, try calling the brokerage company’s office. Also, view the associate’s personal real estate website which may specify more details.

• Review the feedback. There are specific sites with current and real-time feedback about real estate brokerages and their agents. Use it wisely.

• Learn about the products they offer. Sometimes companies have additional specialized services for their clients. You should know about them as well and the benefit it brings to you.

• Find the benefits they provide. It is easy – Usually, such things are listed on the main page of the website.

• Thus, create your impression about the quality of their services. Sum everything up and move ahead!

Based on this information, you will have an idea of who you can trust. Being one of the most important dealings in your life, this is crucial. Arrange an interview with the brokerage agent and make your final decision!

Real estate brokerage services in Calgary

Speaking about the variety of services provided by brokerage companies, it is necessary to pay very close attention to them. Each has its peculiarities, advantages, and disadvantages. Let’s take a closer look at some of them.

• Full-service real estate brokerage companies. The first word already says everything. These companies provide the full spectrum of services related to real estate. The majority of real estate brokerages in the market have opted for this type of organization.

They practically do everything for the clients. Services start with real-estate planning, mortgage direction advice, real estate consultations along with legal directory assistance. Also, they will refer you to the most highly qualified legal professionals in the real estate field.

Some of the services you should expect;

• Active listing searches are another service the majority of real estate brokerages will offer you. Now, you do not spend your invaluable time sorting through a vast amount of irrelevant properties. You simply receive a summarized extract of the most relevant and exciting properties that meet your specific criteria.

• Most real estate brokerages will do their best to deliver up-to-date information on the newest listings on the market, to you. Now you will have an excellent chance of securing that perfect property before another buyer gets to it.

• Regardless if you’re hesitating about the right property or simply have questions, Realtors are there to assist you. They will give you a free consultation on the issues that concern you. Such an invaluable service is very beneficial to you. A seasoned agent will also give you tips and recommendations that you may never have thought of on your own.

• The Proper financial direction is one more service real estate brokerages can offer to their clients. Professional advice can prevent you from unforeseen expenses in the future. It is strongly recommended not to neglect this knowledge. Get pre-approved through your bank or a mortgage broker, before buying. In today’s market, brokers are your best bet for getting the best value in mortgages.

CIR Realty – Calgary’s leading brokerage

It has been many years since CIR Realty became a pillar in Calgary’s real estate industry. Since then, it has survived many economic, and financial crises. Their agents have assisted on infinite small to multi-million dollar deals. In doing so, helping thousands of Canadians with their real estate investments. Thus, knowledgeable and professional agents are the key to every successful real estate brokerage company. They bring great benefits to the clients and are responsible and accountable for all their actions. Real estate agents, like Ron Christensen, are excellent at providing prompt service, personal assistance, and professional advice. Everything from helping you choose the correct property to closing on the deal. Even finding a cleaning agency for your new home if required. Your experience will be relaxing and unproblematic. Timely and wise advice is one of the most valuable assets to any real estate transaction. Call Ron Christensen at 403-861-7770 for the greatest real-estate encounter you could imagine.

Sales in Calgary’s real estate can be fun.

Buying a home in Calgary involves doing your homework and then selecting the appropriate property. Ron Christensen has perfected the ultimate credentials for those buyers who can sometimes feel overwhelmed in Calgary’s real estate market. Real estate sales in Calgary have always seen fluctuation and one has to know what causes this.

• Get the latest and most relevant activity on Calgary’s real estate pulse

• Get prompt assistance and associated data

• Compile a list of comparable sold properties in your area to justify values

Whether you are looking to sell your house or you’re in the market to purchase a home, prices have to reflect fair & competitive market value. Thus, you need to have experience & knowledge of the marketplace. When this isn’t done, thousands of dollars can be left on the table!

Calgary’s Preferred SE Areas

You will find Ron Christensen’s decades in Calgary’s real estate market is the key to obtaining the best value when selling or purchasing. Currently, several of the following SE communities are Calgary’s strongest areas for sales:

• Auburn Bay

• Copperfield

• Cranston

• Chaparral

• New Brighton

• Legacy

• McKenzie Lake

• McKenzie Towne

• Auburn Bay

• Mahogany

So Many Houses For Sale in Calgary’s Current Real Estate Market

How do I sell my house in Calgary’s buyer’s market? Ask Ron Christensen!

Selling your house is not an easy task at the best of times if you don’t have the experience combined with inventory knowledge. You may own the finest and most prestigious house in your area but if improperly priced and marketed, you may not be successful! So, what is the most rational and financially prudent option? Hire an expert who has the product knowledge and negotiation skills to get the job done accurately. Ron Christensen will not only assist you with your sale but will simplify the complete transaction by covering the steps involved with legal documents, lawyers, RPRs (Real Property Reports), discharging or “Porting” your existing mortgage, etc.

When you list with Ron Christensen, you will receive:

• The most current and relevant MLS activity for setting the list price

• A 100% written guarantee of satisfaction

• An aggressive strategic marketing plan

• Comprehensive service “From Sign up to Sign Down”

For additional details or a complimentary no-obligation evaluation of your property, call or text Ron Christensen @ 403-861-7770.

How to Set The “Right” Sale Price in Calgary’s Real Estate Market

Proper evaluation and setting a “Competitive” list price on your home will obtain the highest sale price!

Rain or shine, finding the right buyer for your home can be a challenge indeed in Calgary’s prevailing market! It is currently what we call a “Buyer’s Market” with an enormous inventory of competitive properties endeavouring to sell ahead of yours. Ron Christensen will;

• Compile a thorough search of comparable sold in your area to ascertain a saleable list price

• Continually produce refined searches for matched buyers

• Establish matching buyer profiles in our databases

• Continually monitor the competitive prices and activity until we sell

• Relay ongoing relative market activity to our sellers

For Sale by Owners (FSBOs) in Calgary’s Real Estate Market

Are you considering the FSBO (For Sale By Owner) program? Buyers today are well-educated and are looking for the best of the best deals. When they see an FSBO they get quite excited as they expect the property to be considerably less than the neighbouring MLS property. They assume that the realtor fees are removed, thus reducing the list price. They are quickly disappointed when they see the prices are usually very similar. Not only is the FSBO looking to net more, but the buyer is also looking to save that same amount.

History has proven over and over again that MLS-listed properties realize the highest net gain. This is due in part to proper market pricing combined with the extensive exposure our MLS system gives the property. On average, every successful MLS realtor has 3 to 5 “qualified” buyers in their database at any given time, ready to buy. When you do the math, at least 100 agents out of Calgary’s 5,000 (plus) agents will expose your property to upwards of 500 potential pre-qualified buyers.

POTENTIAL PITFALLS OF FSBOs (FOR SALE BY OWNERS)

• Unqualified buyers

• Security of your home and contents

• Negotiation on price and included chattels

• Properly completing all the legal documents required

• Deposits and trust account

• Open houses

Ron Christensen and his team will take care of all the above-captioned points, right “From Sign Up to Sign Down”.

Calgary Real Estate Acreage Sales

Acreages are unique and require specific knowledge.

All acreages come in many varying sizes and dimensions. Calgary is surrounded by multiple MDs (Municipal Districts) including the MD of Foothills, MD of Rockyview, MD of Wheatland, MD of Vulcan and more. Acreage parcels can range from 3 acres up to 1,000’s of acres, with or without dwellings and outbuildings. There are acreages with homes starting in the 200s ranging up to multi-million dollar estates and ranches.

The closer proximity to Calgary, the higher the prices. Unlike suburban living, on acreages, you have to be aware of details such as septic systems, water rights, drilled wells, cisterns, and potable water or not. Also, there are easements, utility rights of ways, access, bus routes, nearest schools, phone & internet service and much more. Ron Christensen has acquired all the knowledge required through decades of experience to assist you in these areas if you are a buyer looking to purchase. If you currently own acreage and are looking to sell, Ron is definitely ready to assist you as well, “From Sign Up to Sign Down”.

Calgary Real Estate Private Sales

Sometimes confidentiality is required.

Occasionally sellers require a discreet method of sale. When confidentiality is important, we take a different approach to marketing and cover all the pros and cons of this arrangement with our sellers. Sometimes it may only be that they do not want a yard sign for the neighbours to see or they want it marketed “Exclusively” and not promoted through the MLS system.

Regardless of your requirements, Ron Christensen is fully prepared and qualified to follow your wishes and make it happen. Call or text Ron Christensen at 403-861-7770 today to get the process started.

Calgary’s Real Estate Market can mean profitable business if you know the rules!!

Calgary's real estate market, despite its various ups and downs in the past, has given a wide range of opportunities for the savvy investor who is looking to profit. Inventory levels are currently quite high which gives investors a wide choice of products to choose from and negotiate very lucrative deals.

Calgary Real Estate For Sellers

If you want to mitigate all the risks and pitfalls involved in selling your property, call the experts!

Ron Christensen is always ready and more than qualified to assist you in the sale of your property whether it be your principal residence or investment property. Put my decades of marketing & negotiating skills to work on your behalf. I’m there for you, “From Sign Up to Sign Down”.

Calgary real estate for buyers

If you want to achieve the “best” buying price on properties in the Calgary real estate market, call the experts!

Ron Christensen has assisted infinite clients over the past decades to purchase their dream homes and/or their investment properties. In today’s environment, everyone has access to multiple sources of information via electronic technology. However, Ron can tap into sources including but certainly not limited to the Calgary MLS database archives to achieve the most current and relevant info to negotiate the best deals for his purchasers.

As the sellers typically pay both sides of the realtor fees, you can enlist the “best of the best” professional negotiators to partner up with you at no cost, and no risk! We have a unique step-by-step system in place. This starts with obtaining a non-committal pre-approved mortgage so you know exactly what your limits, payments etc. are going to be. Call or text Ron Christensen today at 403-861-7770 to make the move!

It is not a secret to anyone that Calgary is one of the largest and most prosperous regions in Canada.

It can boast of its leadership in the oil and gas industry, which obviously impacts the prices of real estate in Calgary. Before making your decision, it is worth looking into the whole range of building blocks & tips that to one degree or another brings to the table, the trends of Calgary real estate prices.

• Not only is «black gold» the item to factor in when talking about the prices, but also the seasons. For example, in winter the prices of real estate in Calgary show a downfall.

• The upcoming spring with its warming sunlight is the busiest season of the year.

• As statistics show, summer prices are higher than winter ones.

• Autumn is the best buying season for real estate prices in Calgary. It is the time when summer vacations are over, and the majority of people get back to their work and studies.

The chart below shows all the data from a historical perspective. Let’s have a look at them in detail.

Calgary real estate prices chart from the historical perspective

People say history repeats itself, and the history of real estate prices is a vivid example. Together we will have a look at the chart that can predict the future of real estate prices in Calgary. We have already learned that the prices of real estate in Calgary largely depend on oil prices. Comparing the two charts, we can see that both oil and Calgary real estate history have seen rises and plunges. Let’s check out Calgary's real estate prices graph and crude oil prices:

Definitely, It shows us the contrastive analysis of oil and real estate prices in Calgary for a period of thirteen years, which has lots of valuable data and tips for us. The first thing we need to pinpoint is that both strings on the Calgary real estate prices graph are almost synchronous. It once again proves the connection between oil and real estate. We all remember the economic downturn in 2008. On the Calgary, real estate prices graph it’s one of the most eye-catching elements showing a nose-dive. Slowly but unwaveringly, it started to grow in early 2012. Since then, up till 2014, the prices went up by 26%. With all this in mind, we can be sure that a steep takeoff soon follows every decrease in Calgary real estate.

Trends in Calgary real estate prices

As with everything in the world, starting with the fashion industry, Calgary's real estate prices have their trends. It’s already clear they mostly depend on oil prices. In its turn, oil markets can show us their tendencies as well. They go in cycles, where each cycle is 7-8 years. So are the real estate prices in Calgary. Tips to cap it off, we will overview the key trends in Calgary real estate prices.

• Oil prices

• Cyclic nature of oil market growth

• Spring is the hottest season in Calgary real estate

• Summer increase of the Calgary real estate prices

• Prices of real estate in Calgary see their fall every autumn and winter

• City area – another decisive factor in Calgary real estate prices

All these facts will come in handy for those who will decide to buy real estate property in Calgary.

Oakridge – the most hard-and-fast real estate prices in Calgary

The area of the city is one more point for you to factor in. As real estate prices in Calgary vary depending on it. Years of my experience can tell you about the absolute fact that Oakridge prices are the most stable. Oakridge area is also the most favourable for property investment. I can recommend it to you because of the higher property prices, which are relatively stable regardless of economic recessions and crises. Oakridge housing prices are changing but are the least influenced by various outer factors. Those, who dream about living in Oakridge, can benefit greatly from:

1. Fresh air

2. Mountain view

3. Wonderful passways for walking around

4. Shopping malls nearby

5. Amazing safe playgrounds for kids

6. Full range of infrastructure.

Calgary real estate prices and historical trends are quite versatile. So if you're hesitant about purchasing a Calgary property, always remember there are professionals who can help you make the best decision.

Number of new houses being built plummets by nearly 16%

There has been a 2.2 percent decline in the average price of new detached homes in Calgary since July 2018, according to StatsCan. (Robson Fletcher/CBC)

Calgary's sluggish housing market continues to see prices fall for new single-family detached homes.

There has been a 2.2 percent decline in the average price of new homes since July 2018, according to the New Housing Price Index released Thursday by Statistics Canada for September 2019.

It's a downward trend in prices and demand that comes as unsurprising news for Jim Sparrow, a long-time realtor with Royal LePage in Calgary.

"The resale prices have been falling for most of the past five years since the price of oil fell," said Sparrow.

"We've sold fewer detached single-family homes year-to-date than we did last year."

Despite lower prices on new single-family detached homes, it's the slowest year in real estate sales the city has had in 23 years, says Sparrow.

"That's a long time," he said.

Fewer houses to be built

Along with a consistent drop in the prices of new single-family detached homes in Calgary, there was also a drop in houses being built in the city.

There were 15.8 percent fewer housing starts for single-family detached homes compared with the same period between January and September last year, according to the Canada Mortgage and Housing Corporation.

This is because there were already too many homes built previously than were needed, says Ann-Marie Lurie, the chief economist with the Calgary Real Estate Board.

"The resale side of the market is oversupplied as well. So there is a lot of products available for detached in new as well as in resale," Lurie said.

"Because of that, that adds that additional pressure on the new home side and is likely causing them to start reducing some of their starts activity."

Calgary Real Estate Board chief economist Ann-Marie Lurie says too many homes have been built, and the resale side of the market is oversupplied as well. (Evelyne Asselin/CBC)

Only small increases

Lurie says there has been an increase in the sales of detached homes in the under $500,000 segment and of apartments, semi-detached homes and half-duplexes.

"It's because they are, by far, the most affordable," said Lurie.

"For many people who, you know, are interested in a specific community, maybe they can't get into a detached home, but attached, that provides an option for them."

Buyers are really hard to find these days for homes in pretty much any price range.- Jim Sparrow

Despite it being a slow year, Sparrow says detached homes still make up the majority of sales on the MLS in Calgary, just at lower prices.

"Buyers are really hard to find these days for homes in pretty much any price range," said Sparrow.

"If you're selling your house, you have to take a deep, deep breath and you have to lower your price to probably well below what you thought your house was worth. And even then, you're in for a challenging time."

It's not all downward trends. Recently, sales of detached homes have incrementally increased in the past few months, but not in a significant way, says Sparrow.

"That's insignificant in terms of the number of properties sold. It's a really slow market and it's impacting everybody that's involved," he said.

Reasons for decline

Sparrow points to the struggling oil and gas industry in the province as a reason for the downward shifts in the housing market in Calgary.

"There's a lot of people that aren't impacted by the price of oil. But ultimately, I think they will be because Calgary still runs on oil and gas," he said.

"When you take this many people out of the industry … they have no choice but to leave the province if they want to make a living.

"It starts to take something away from the city."

Lurie says that Calgary's population growth is fairly average but that newcomers to Calgary aren't necessarily heading straight into property ownership.

"Most of that migration growth into the city has been more in terms of international migrants. So they're not necessarily owners immediately," she said.

She says that lending rates and competing products in the housing market play their part in the decline.

"There's the detached product, but there's also available supply options for attached products … which gives an alternative for people who are looking for a more affordable product to the market," said Lurie.

"I don't think we're going to have any dramatic change in demand next year unless there's a shift in economic conditions.

All real estate markets have trends.

As in any market or commerce, the City of Calgary’s real estate market is no different. Below we will give you a window into what the economists see. A brief but insightful overview of Calgary real estate market trends

Before we get to business, let’s think together about why it is that Calgary’s real estate market is so attractive and prosperous. Ron Christensen can assist you with the answers. It’s mainly because Calgary is one of the best places in Canada to dwell in, do business and just enjoy one’s life. 1st – Its favourable and appealing image is comprised of several key factors. The most evident and powerful of these is the oil and gas industry. Some say that the weather in Calgary, as well as the Calgary real estate sector changes depending on the industry’s fluctuation. 2nd –

Needless to say, the current Calgary real estate market along with the whole economy of Canada is living through a challenging period. I will share with you the insider info that will come in handy for those who are considering either investing in Calgary real estate or simply buying the family nest. 3rd – The real estate market in Calgary has proved to be quite resilient and independent from the fluctuation in the oil and gas sector, also the economy on the whole. We know that while the regular home prices dropped by 3-4%, the more expensive properties took a bigger hit. They remained on the market longer. When looking back two years, the prices of such property in Calgary have only changed slightly.

Calgary real estate property values – what’s new?

We have just given you a glimpse of what is happening in Calgary’s real estate market. That is not enough however for you to have a complete picture. You also need to be aware of the “most recent” tendencies in real estate property values. In most areas of the Calgary real estate market prices slid but not to a great extent. Higher inventories and weaker demand are the criteria that influence real estate property value in Calgary. This is particularly true in the apartment and condo sectors. In comparison with the previous year, June sales dropped by 7%. However, this situation can be made up for by the greater levels of inventory gains. At the same time, it is important to realize that the detached market in Calgary remains at more or less balanced value levels. On the contrary, we can observe a small decline in “new home builds”.

What do the latest reports say about the real estate market in Calgary?

Every month, especially since the economic decline, more and more new market overviews and predictions appear on the Internet. As of June, there was a published report, featuring the state of the real estate industry in Calgary on the whole, with specific communities in particular. It is said that the prices slowly but steadily decline. Still, it’s important to realize that the slide is not as abrupt as many had anticipated.

The latest data on Calgary’s real estate market is quite favourable

• The area of detached and semi-detached houses shows a good tendency and has almost reached its balanced levels. The report says that the detached market rose by 0,4% in the past month. Still, it is 3/4% lower than in the previous year.

• As for the sales activity, it is quite normal to see it decline in the summer. So the Calgary real estate stats report says sales declined by 7%. Also, it’s interesting to know that the new building has slowed down as well, and that has a reflection on inventory prices.

• It is reported that higher inventories, relatively weak demand and longer time on the market will have a significant effect on the market’s pricing, especially in the apartment and condo segments.

With all that being said, the current situation in the real estate market in Calgary offers its distinct advantages to buyers. Now they have the perfect opportunity to get that new home at a price they previously couldn’t obtain.

The most comprehensive Calgary real estate predictions

People would not be people if they didn’t want to know what the future holds for them. These kinds of secrets bear some invaluable information that can be of use. This is particularly valuable for those who are hesitating whether or not to buy that new home. Everything is not quite as gloomy as some had predicted. On the contrary, the Calgary real estate forecasts are quite promising and positive for both sides of the market, be it a seller or a buyer.

The future outlook for Calgary’s real estate market is not all doom and gloom.

The predictions for the immediate future tell us that the period of 2016-2017 is going to have a stable tendency throughout the whole year. The predictions say it is little if any chance that the house prices will significantly decline – so for those who are still wavering over buying or not – “now” is a good time! Having a brief look at Calgary’s real estate market data in 2014 and comparing it with our forecast, we can see the following picture. The year 2014 was benchmarked with a $460,584 average selling price peak. Meanwhile, the predictions for the coming years estimate prices to drop by nearly $15,000. Currently, there is a better case scenario, where it shows the decrease will be a bit less – averaging around $449,500. On the whole, everyone agrees that in the future, the real estate market in Calgary will stabilize. In 2017 we will see moderate benchmark gains and fewer price drops.

Commercial property on the Calgary real estate market

Commercial real estate property in Calgary is one of the most popular areas on the market. It is all due to:

• The region’s strong corporate businesses,

• Industrial sector growth,

• Retail business.

Current real estate reports say Calgary has had the best tendency in commercial real estate growth over the last decade. It can boast about its 40.0 million square feet of office space. Also, there are 23.9 million square feet of suburban office space available.

Interesting Insights;

Robert Hogue – senior, RBC

“We expect the Bank (of Canada) is going to raise the overnight rate a couple of times. More recently, we’ve delayed the next move, but we still think the bank is not done yet. As we’ve seen in the past year, the market has been struggling to a certain extent for a number of reasons, but more recently, what’s happening in the oil sector hasn’t been very good for confidence. Earlier in the year, the stress test and rising interest rates had played out on housing demand. It was an issue for homebuyer demand.”

Cuddy – senior analyst, Mortgage and Housing Corp.  

“Going forward, it’s CMHC’s view that interest rates will continue to rise modestly. In our projections, that’s what we’re showing for 2019 and 2020. Of course, increasing the cost of credit will impact the purchasing power of individuals who are looking to purchase a property. Their costs will rise as the cost of interest rises when they’re borrowing money to move into homeownership. In Calgary, there are a number of other factors that will impact the demand for housing. Interest rates are part of this, but the other part of the story is the economy still hasn’t fully recovered. So this, combined with higher interest rates, will certainly impact the demand for housing and perhaps put increased pressure on the rental market, which is what we’ve seen throughout 2018.”

Will Dunning – chief, Professionals Canada

“I do believe that financial markets were inordinately panicky at the end of last year and interest rates fell probably prematurely. So I would guess interest rates will probably retrace a little bit over the next couple of months upwards. But I think for the second half of the year, there’s going to be more economic weakness and I don’t think there will be further increases beyond the middle of the year.”

Sal Guatieri – senior economist,  Group   

“We expect interest rates to rise very modestly further this year. The Bank of Canada is expected to resume raising interest rates in the second half of the year, with a move in July and then a final move this cycle in December – so a total of 50 basis points. That will still leave interest rates historically low. It will weigh on demand a bit further, especially in Calgary, where the market is already struggling and has been for several years now since the last oil price shock in 2015. That shock left the Calgary market with a large overhang of unsold homes, particularly condominiums. We were starting to work through that overhang until the recent downturn in oil prices. It’s a market that’s still very much struggling, very much ruled by buyers.”