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IRES
Just Listed in Abbotsford!
One of Fraser Valley’s most prestigious homes: 2402 Jonquil on Eagle Mountain!
For more photos and information Click Here
Sprawling across the bluff, this home was masterfully built to the highest of standards, exceeding $3 million. Designed for the executive entertainer, the main floor is over 3,800 sq. ft. w/ luxurious master suite w/ stunning views of Mt. Baker; 2 offices, 4 patios, 3 fireplaces, floor to ceiling windows and VIEWS in all directions! Lower floor w/ rec rooms, guest bedrooms, space for gym/wine cellar, etc. Concrete & steel construction w/ zinc fascias, $200K stonework, Lutron lighting, video security, water features; over 6,400 sq. ft. on 0.8 acres.
Only 1 hr to Vancouver and 15 minutes to YXX, great for international travel! Price is FULLY FURNISHED!!
For more photos and information Click Here
Market Trends: Farm Edition 2013
Central Alberta
Southern Alberta
Kid-Proof Your Design
All types of flooring are subject to possible damage; try to consider your new hardwood scratches as a natural and charming authentic aging process. Tile can break, carpet can stain and Marmoleum can get damaged. Whether it’s you moving the fridge for cleaning or the kids riding their skateboards in the house while you are out in the backyard, make sure you choose the best quality you can afford and don’t worry about life’s little accidents.
When you are furnishing the living room, consider investing in pieces that will last. You can always re-cover the chairs or sofa once the little ones are grown. This is a far better option than purchasing disposable furniture that will end up in a landfill when you are ready to buy your “real” furniture.
by Lori.Andrews on Sep 16, 2013
– See more at: http://www.crebnow.com/kid-proof-your-design/#sthash.O8lhY3gD.dpuf
CALGARY REGIONAL HOUSING MARKET STATISTICS for August 2013
SUMMER SALES STAY STRONG
Seller’s market conditions persist, pushing up prices
(click on the photo above to download the full report)
Residential sales within city limits totaled 2,196 units, an 27.5 per cent increase over 2012 and 8.7 per cent on a year-to-date basis.
The level of transactions was well above long-term trends for the month, mostly due to improved activity in the single-family sector. However, on a year-to-date basis, activity is only slightly higher than expectations.
“The sales have been limited by the need for more resale listings,” said CREB® President Becky Walters. “However, August did see more new listings than last year, giving buyers more choice.”
August new listings recorded a year-over-year improvement of 7.4 per cent. While seller’s market conditions persist and total inventory levels keep falling, improvement in new listings helped prevent further tightening in the market despite the sales growth.
Single-family sales totaled 1,517 units in August, a 30 per cent increase over the previous year. Despite strong sales in the past couple of months, year-to-date sales activity has grown by 5.4 per cent, slightly stronger than anticipated.
Click on the following link to download the full report of the Monthly Housing Statistics for August.
Calgary to lead cities in real GDP growth
In a report released Wednesday, the bank said June flooding in southern Alberta will contribute to a slowdown in Calgary’s GDP growth in the first half of 2013, with losses likely recouped in the second half of the year and into 2014.
The report said Calgary should be the only census metropolitan area in Canada to record economic growth of more than 4 per cent next year.
“While the June floods derailed things a bit, Calgary’s fundamentals are good,” said Ben Brunnen, a Calgary economic consultant. “Low unemployment, tight commercial vacancy rates and strong population growth will keep the economy humming into 2014.”
The city’s biggest challenges in 2014 will likely be growth-related, Brunnen said.
“Rising mortgage rates and low vacancy rates will reduce housing affordability, while strong interprovincial migration could strain our municipal infrastructure and services,” he said.
“Labour shortages in the construction trades is another area to watch, as flood rebuilding efforts and strong commercial construction activity could lead to higher costs and potentially reduce the quality of the work.”
The TD report is forecasting economic growth of 2.5 per cent for the country in 2014.
For this year, TD Economics said St. John’s will lead the country with 4.0 per cent growth followed by Calgary at 3.2 per cent. Nationwide, economic growth for 2013 is expected to be 1.8 per cent.
“Stronger energy prices and a continued steady inflow of job seekers into the province will lift construction spending and retail sales,” said Todd Hirsch, chief economist at ATB Financial. “The only danger remains the job market overheating somewhat, driving wage costs for employers higher.”
Mario Toneguzzi, Calgary Herald
Published: Thursday, September 05, 2013
City's housing affordability 'among better in Canada'
Calgary’s housing market appears to have weathered the worst floods in memory with the second-strongest quarterly sales gain in four years, says the Royal Bank.
“A strong provincial economy, solid labour market, fast-rising population, and attractive affordability continue to fuel demand for Calgary housing,” said the bank’s latest Housing Trends and Affordability Report, to be released Tuesday.
The RBC report, which measured the April to June period, said monthly resale activity increased for six straight months, including in June (rising 1.1 per cent month-overmonth) and July (up 3.1 per cent). On a quarterly basis, home resales rose 12 per cent.
“While prices recently embarked on a more steeply upward trajectory, the effect of faster-rising prices has yet to undermine affordability in any material way,” said RBC. “In fact, affordability levels in Calgary continue to be among the better in Canada.”
The RBC affordability index determines the proportion of median pretax household income needed to service the cost of mortgage payments, property taxes and utilities.
Its measures for Calgary showed little movement in the second quarter, with two-storey homes rising by 0.5 percentage points to 33.6 per cent, while condominium apartments edged lower by 0.2 percentage points to 19.4 per cent.
And while the report cautions home ownership has become less affordable for the average Canadian, RBC said Alberta homebuyers continued to enjoy a relatively affordable housing market.
“Despite the fact that the market has kicked into higher gear since spring – thereby boosting prices and increasing ownership costs – Alberta continues to be a relatively affordable market,” said Craig Wright, senior vice-president and chief economist with RBC. “We will likely see some disruptions in market activity trickle through in summer data from the floods in southern Alberta; however, we anticipate the strong provincial economy will endure, supporting further housing growth in 2014.”
Nationally, during the second quarter, affordability measures rose for two of the three categories of homes tracked. RBC’s measure for the detached bungalow rose 0.3 percentage points and for the standard two-storey home rose 0.4 percentage points to 42.7 per cent and 48.4 per cent, respectively. The measure for the standard condominium was unchanged at 27.9 per cent.
Vancouver’s affordability measure gained 2.2 points to 82.1 on a detached bungalow, while Toronto’s increased half a point to 54.5.
Calgary housing market forges on despite June flooding…
Affordability levels in Calgary are among best in Canada
Not even the worst floods in memory in June appear to have slowed the Calgary housing market’s progression this year, says a report by RBC Economics Research.
“A strong provincial economy, solid labor market, fast-rising population and attractive affordability continue to fuel demand for Calgary housing,” said the bank’s latest Housing Trends and Affordability Report.
It said monthly resale activity increased for six straight months, including in June (rising 1.1 per cent month-over-month) and July (up 3.1 per cent). On a quarterly basis, home resales in the area posted their second-strongest gain (12 per cent) in four years in the second quarter.
“While prices recently embarked on a more steeply upward trajectory, the effect of faster-rising prices has yet to undermine affordability in any material way,” said RBC. “In fact, affordability levels in Calgary continue to be among the better in Canada.”
RBC measures for Calgary showed little movement across all housing categories in the second quarter of 2013. RBC’s measure for two-storey homes rose by 0.5 percentage points to 33.6 per cent and for condominium apartments edged lower by 0.2 percentage points to 19.4 per cent; the measure for bungalows remained unchanged at 33.0 per cent.
The RBC Housing Affordability Measures show the proportion of median pre-tax household income that would be required to service the cost of mortgage payments (principal and interest), property taxes and utilities.
RBC said Alberta homebuyers continued to enjoy a relatively affordable housing market in the second quarter, despite some increases in ownership costs in late 2012 and early 2013.
“Despite the fact that the market has kicked into higher gear since spring — thereby boosting prices and increasing ownership costs — Alberta continues to be a relatively affordable market,” said Craig Wright, senior vice-president and chief economist with RBC. “We will likely see some disruptions in market activity trickle through in summer data from the floods in southern Alberta; however, we anticipate the strong provincial economy will endure, supporting further housing growth in 2014.”
RBC’s affordability measure rose by 0.7 percentage points to 32.4 per cent for bungalows and 0.4 percentage points to 34.5 per cent for two-storey homes. The measure for condominiums rose slightly by 0.1 percentage points to 19.6 per cent.
All measures stood at a level below their long-term average, indicating that home ownership in the province remained historically attractive, said RBC.
Nationally, during the second quarter, affordability measures rose for two of the three categories of homes tracked. RBC’s measure for the detached bungalow rose 0.3 percentage points and for the standard two-storey home rose 0.4 percentage points to 42.7 per cent and 48.4 per cent, respectively. The measure for the standard condominium was unchanged at 27.9 per cent.
4612 5th Street SW
A stunning luxury home FEATURED in “AVENUE” Magazine in the sought after inner city community of Elboya (located above the Floodplain). This family-friendly yet trendy home has been completely renovated. It was professionally decorated & designed w/ extensive attention to detail. This home lends itself to entertaining! The main floor exudes style, the design is comfortable & casual. Special features are numerous in this 3000sqft (includes basement sq footage) 5 bdrm house. Utilize the 4th bedroom as your home office & the 5th for your nanny if so desired (lower level is cozy & private). French doors extend to your spacious yard w/ gorgeous landscaping from your main floor family rm,dining rm & living rm. Appreciate your over sized deck with views of the yard & lower patio, extending from your master bedroom retreat. Large corner lot in an incredibly private & peaceful location facing a park & siding to another.Your children can walk to school! Click on the photo below to view a virtual tour.
Click to view Virtual Tour