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Calgary Market Update – Consumer Confidence Remains High

Sun, 20 Sep by Bryon Howard

Calgary Market Update – Consumer Confidence Remains High

Despite the undeniable impact of energy industry woes on Canada’s real estate market, overall property values in Calgary have not suffered any significant impact.  Even more importantly, consumer confidence remains high.

In the Calgary Real Estate Board’s (CREB) August 4, 2015 report entitled Calgary Regional Housing Market Statistics, Chief Economist Ann-Marie Lurie reports, “Despite weaker absorption rates, market conditions remain relatively balanced and helped maintain month-over-month stability in benchmark prices, which remained unchanged from the previous month at $455,400….And despite the recent retraction, we have not seen all those previous gains eroded.”

In a city as diverse as Calgary, market conditions will, of course, vary in different market sectors and neighbourhoods.  CREB President Corinne Lyall notes, “…it’s important to stay current and become educated with the market dynamics in the communities where they may be making real estate decisions.”  For instance, despite the overall steady numbers in residential sales, the apartment sector has experienced a slight but noticeable dip in value (1.61%) from the beginning of the year, due to decreased demand and expanding inventory.

Another important economic indicator to focus on is new home starts.  Applications to pull permits for single and multi-family dwellings plummeted in July and are down by 31% and 24%, respectively, since the start of the year.  While the pullback will help to maintain market balance by limiting the pool of available housing inventory, it also reflects the overall uncertainty with the economy and unemployment.

In CREB’s Mid-Year Update to its 2015 Economic Outlook and Regional Housing Forecast, the editors stress the fact that despite the cloud of economic uncertainty hanging over Calgary, consumer confidence in the prospects for real estate investment remain high.  “Positive long-term prospects and reduced concerns about the bottom falling out in the near term could minimize the pullback in demand, keeping market conditions in relatively balanced territory and preventing further aggregate price declines.”

Are  you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at TheHowardTeam.net.

About Bryon Howard

Bryon Howard and his team of Calgary real estate professionals sell an average of two homes a week. He is a member of the MLS Million Point Club, which ranks him roughly in the top 1% of productive realtors in Calgary. His aim is not just to please clients but to help them buy/sell a home in Calgary at the best price, in the shortest time, and with the least hassle. He is a member of the RE/MAX House of Real Estate that leads in the Canadian market. Learn more about Bryon at TheHowardTeam.net.

Buying your first home? Think nothing can go wrong? Think again

Tue, 02 Sep by Bryon Howard

 

 

Sometimes buying your first home isn’t as glamorous as you may think. We go over some common first time home buying disasters to help you know what you should watch out for. It is important to be prepared as sometimes these disasters can happen. Learn what to do if you find yourself in a similar situation! http://ow.ly/ASCrP

What do I need to watch out for when purchasing a home?

Tue, 26 Aug by Bryon Howard

 

 

Make your first time home buying experience a good one! There are some things you need to look out for to ensure your experience goes smoothly. It is important to do your homework and work with a great real estate agent. See more tips here! http://ow.ly/AxYvU

How do banks and lenders approve mortgages and loans?

Thu, 14 Aug by Bryon Howard

 

 

Are you wondering how banks and lenders approve mortgages and loans? It’s not as complicated as you might think! You will need to be prepared to answer the banks questions, provide documentation, and finally prove out the math that indicates you are ready to be approved. These three simple steps can bring you one step closer to realizing your dreams http://ow.ly/A4Wcq

 

 

How creative do I need to be when talking with a bank or lender?

Fri, 18 Jul by Bryon Howard

 

 

This video explains that you shouldn’t need to be creative when talking with a bank or lender. It is important to layout what it is you are looking for and ensure your math works to better your chances of receiving financing.

What is mortgage insurance?

Wed, 16 Jul by Bryon Howard

 

 

This video explains what mortgage insurance is and how it protects the lender. It explains that based on the amount of your down payment customers may need to purchase mortgage insurance. How this cost is determined is then further explained to give individuals a full understanding of how mortgage insurance works.

1.99% Mortgages

Thu, 10 Jul by Bryon Howard

 

This video addresses lenders who are offering low interest rate mortgages. It explains that customers should be aware of other terms and conditions when agreeing to such mortgages to ensure they are receiving the same value. Examples of banks and lenders who have offered such deals are further investigated.

What is a payout penalty?

Tue, 08 Jul by Bryon Howard

This video defines what a payout penalty is and the benefit it has for banks and lenders. The different types of payout penalties are covered and explained to ensure someone seeking a to pay off their mortgage early is aware of potential penalties and how much those will cost them.

What is a repayment privilege?

Mon, 07 Jul by Bryon Howard

 

This video outlines what a repayment privilege is and how it is used. It covers how repayment privileges differ for commercial mortgages and business loans versus residential mortgages. It also indicates that not every lender offers the same privileges so to be aware of what offer best suits the customer’s needs.

The Power of Property

Thu, 19 Apr by Bryon Howard

History has proven over and over that Real-estate is the pathway to long term wealth. Any successful investor holds real-estate within their portfolio.  As consumers we have access to 5 areas of retirement planning:

  • Cash From Savings
  • RRSP’s
  • Stock/Bonds
  • Pension
  • Real Estate

Only Real estate allows “leverage” or the ability to acquire large assets at a fraction of their true cost.  Only real-estate allows us to take out “equity” with no or minimal tax implications to serve our future financial needs.

Mark Loewen, Royal Bank of Canada Revenue Property Mortgage Specialist, recently moved into an office down the hall from me here at ReMax House of Real Estate.

Have you  thought about investing in real estate … but haven’t quite taken the next step? Do you need help in getting over the hurdle … the decision … if it makes sense?

Set a 25 min consultation with Mark and I to see if Real Estate Investing is right for you.

I call this meeting… “The Power of Property”.

Real Estate Leverage = Teamwork


The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the Calgary Real Estate Board. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.