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International Connections

We are excited and proud to be part of the Legacy Luxury Lifestyle offering all our clients and their listings exclusive access around the globe! We provide only the highest level of service as well as new solutions to our clients by offering an EXPERIENCE of VALUE as “Global Agents”!
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Legacy Luxury Lifestyle Inc., and its group of companies, specializes in creating the most comprehensive, dynamic and holistic international ‘gateway’ marketing platforms which specifically showcases luxury real estate and lifestyle opportunities in select key markets around the world.
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Visit Our Profile or the main Legacy Luxury Lifestyle website for more information! Click Here to view our listings from around the world!
Connect with Doug, Susan or Kristen today to learn the top 10 steps in helping you achieve your goals in Real Estate, whether locally, nationally or globally, we are your choice Realtors!

Just Listed in Abbotsford!

One of Fraser Valley’s most prestigious homes: 2402 Jonquil on Eagle Mountain!

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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!!
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For more photos and information Click Here

Market Trends: Farm Edition 2013

Screen shot 2013-10-15 at 6.16.41 PMClick here on the image above to view the full report: Canada wide!
 

Central Alberta

Low interest rates and record crops continue to fuel demand for farmland from Kneehill north to Red Deer Counties, with the number of parcels transferring ownership in the 12-month period ( June 2012 to May 2013) on par with last year’s strong performance. Inventory continues to be a challenge in the area, with the shortage placing serious upward pressure on values. Price per acre has increased about 15 per cent on average this year over last, with prime land fetching substantially more. Properties that would have sold at an average of $2,800 to $3,500 an acre one year ago now have a sticker price as high as $3,400 to $4,500 per acre, or as high as $5,500 an acre in Olds. In the Lacombe area near Red Deer, even greater pressure exists, with values rising to as high as $6,500 per acre. Private deals continue unabated between neighbours and landlords/tenants, further hampering listing inventory. By far, the most aggressive players in the market are the supply-managed farms and the Hutterite Colonies—both of whom are looking to expand existing operations. New players have also emerged in recent years, including the investment community, who are now diversifying portfolios to include agricultural land

Many are opting for 3,000 acres to start, with land ideal for cereal grains, including wheat, canola, and barley. Interest rates continue to play a crucial role in the compilation of farmland, with variable rates hovering at two to three percent. Some farmers, anticipating higher rates down the road, are locking in at five- and ten-year terms to secure more long-term favourable rates. The low interest rate environment has discouraged some people from selling their land (unless they can sell at a premium), ultimately limiting the amount of land for sale. Yet, it has also created confidence amongst buyers that can now budget their cash flow to service new debt. Managing risk continues to be a mainstay for those in farming, with many lending institutions now working alongside agricultural communities. One trend that has been supported by loans offered by Farm Credit Canada (FCC) and other financial institutions is the return of younger farmers back into the market. Tremendous crops and record commodity prices in recent years have been a major impetus, in spite of commodities off last year’s peak levels. While market conditions are expected to remain stable for the remainder of the year in Central Alberta, the rapid appreciation experienced in the past is unlikely to continue. Banks are expected to somewhat tighten lending practices in the coming year, which will further serve to slow escalation. Still balance sheets show strong equity across the board, one factor that will support the market for farmland in the months and years ahead.

Southern Alberta

A serious shortage of farmland listings continues to temper momentum in Southern Alberta’s market. Buyers continue to seek out cultivated, dry land and irrigated parcels, but available properties remain few and far between. Approximately 10 farmland listings are currently available for sale. Exclusive listings and private deals continue to be commonplace, keeping listings from the open market and an expanded buyer pool. Any quality sections that have come on stream have moved quickly, and although demand remains strong, lower commodity values have served to create a new level of diligence among buyers. Purchasers are weighing their options and waiting for the ideal parcel. However, when the right opportunity presents, they’re moving quickly. Most farmland properties generally sell within two weeks—some within days. Confidence remains high and most purchasers feel secure in long-term value and potential that farmland investment represents. The bulk of buyers are local end users. The need and desire to expand continues to bolster the market, as everyone from smaller operators, local Hutterite colonies and major players vie to increase their stake. Some U.S. investors have bought up parcels for a long-term hold, with the intent to rent the land to existing operators. Competition for rental land remains solid, with rents averaging $50 to $60 an acre for dry land, while irrigated land with pivot commands a premium. While supply outpaces demand, prices have managed to hold firm over the past year. Grassland is commanding $800 to $1,200, while dry, bare land typically generates $1,000 to $1,600 per acre. Irrigation land requires a premium outlay, usually moving between $5,000 and $8,500 per acre. Farmland closer to key cities/municipalities have garnered top dollar, with notable sales this season running between $9,200 and just under $10,000 an acre. Deals are coming together rather fluidly, as most vendors continue to have realistic expectations. Financing is rarely an issue, despite tighter lending restrictions. Buyers exist for virtually all types of product, from large parcels to quarter sections, gentleman/hobby farms to ranchland and dairy operations, as long as the price reflects fair market value.

To date, the board has recorded roughly three dozen sales, with the busiest season for farmland real estate set to get underway this fall. While the pace remains steady, there are few multiple offers to speak of, as most properties sell right away through word of mouth, either exclusively or in private deals. Or in the case of MLS listings, most realtors have their own willing buyer pool waiting in the wings. Despite news of widespread flooding in Southern Alberta earlier this spring, most crop land was unaffected, although some hail did damage crops in the southeast area of the province. On the whole, yields look good for 2013. Overall, vendors can expect demand to remain in line with current levels for the foreseeable future, while purchasers will benefit from price stability. The potential for rising interest rates is not expected to prove a significant deterrent to eager purchasers, whose belief in land remains steadfast.
Click Here to view the full report for all of Canada.

Kid-Proof Your Design

One of my frequent requests from clients is to design a “kid-proof” home. I must tell you, If I am completely honest about this, it’s impossible. I don’t have children, but daily life (and the occasional party) have provided plenty of visible damage in my home – like the time someone danced in stilettos on my beautiful hardwood floors, or the red wine I spilled on the day my new white carpet was installed. Or that time I knocked over my brand new custom credenza because I opened all the drawers at once and damaged four of the drawer fronts. Spills and scratches are going to happen. I like to remind my clients of the five-foot rule. If you can’t see damage from a standing position, it doesn’t exist.

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.
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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
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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

Calgary will lead Canada’s major cities with 4.1 per cent real GDP growth in 2014, says TD Economics.

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.
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Click to view Virtual Tour