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New-home construction vibrant…

Low supply of resale houses boosts demand

A series of fresh forecasts and building statistics Thursday further cemented the view that Calgary’s new home construction industry is entering 2014 on solid footing.
Statistics Canada reported the Calgary region had the highest annual rise in new home prices during November.
Its new home index showed prices in the Calgary metro area increased 6.5 per cent from a year ago. Nationally, prices increased 1.4 per cent. Separately, new reports on local building permit values and housing starts were also positive.
“For us, as a combined housing and land development company, we have had one of our best years ever in 2013,” said Lesley Conway, president of Hopewell Residential Communities, which holds significant land in southeast Calgary with houses being built in Mahogany and Copperfield. “I’m expecting more of the same going into this year.”
Population growth spurred by job growth across the region continues to push up prices and construction, said analysts, including Richard Cho of Canada Mortgage and Housing Corp.
“Supply in the competing resale market has come down, which has also boosted demand for new homes,” Cho added.
CMHC said Thursday that housing starts in the Calgary region ended 2013 slightly down from a year ago, despite an increase in singledetached home construction. Total starts for the Calgary CMA were 12,584, off about 257 from 2012. The single-detached market gained more than 440 homes from the year earlier.
“Even though there was some uncertainty and continues to be some uncertainty in the oil and gas sector … we continue to see growth, job growth and people moving here,” said Hopewell’s Conway.
“They see it as the land of opportunity coming here from other places in Canada.”
Robert Kavcic, senior economist with BMO Capital Markets, said annual housing starts in the country finished at 188,200 units in 2013, down from 215,000 the year before. It was the lowest full-year tally since 2009.
“Total housing starts in 2014 are forecast to rise, and the number of building permits we have seen thus far would suggest the same,” said Cho about the Calgary market. “We are also expecting employment and migration to continue supporting demand for new homes.”
Building permits soared in the Calgary region in November, posting one of the highest annual increases in the country, according to Statistics Canada. The federal agency said permits reached $645.2 million for the Calgary
CMA, up 75 per cent from November 2012 and 5.6 per cent on a monthly basis.
Year-to-date, residential permits in the Calgary region have risen by 32 per cent to $3.97 billion while non-residential permits are up by 36 per cent to $2.5 billion.
 

Mario Toneguzzi, Calgary Herald, Published: Friday, January 10, 2014

Calgary home values close to boom levels, despite flood impact

CALGARY SKYLINE CROPPED 429165_10150674768322432_971485300_n
Calgary home values are nudging 2007-08 property boom levels, with sharp declines in flood-hit neighbourhoods unable to check the city’s real estate growth.

The city’s 2014 property assessments, released Friday, showed values of properties outside areas badly damaged by the June floods have risen six per cent since last year.
Citywide, the typical home is now worth $430,000, up from $410,000 in 2013.
That’s the highest level since 2008, when the boom lifted the median price to a record $447,500.
“We have certainly seen a really strong increase, and certainly a resetting of some of those values back before some of the financial crisis happened,” said city assessor Nelson Karpa.
Many communities saw assessments rise more sharply than the six-per-cent median, particularly those in northeast Calgary and those hugging Nose Hill and Fish Creek parks.
Elbow Park and Roxboro were the only neighbourhoods where assessed values dropped.
Calgary Real Estate Board (CREB) economist Ann Marie Lurie said the citywide rise was likely being led by a surge in demand for single family homes.
“A single family home under $500,000 have been selling quicker and their prices are increasing.
“We have finally pushed above those unadjusted (for inflation) levels. We’ve pushed above those peaks that we saw in 2007 (for single family homes).”
The trend was likely stronger in parts of the city which registered value increases above the six per cent average, she said.
“It could be that those areas have more homes on that lower end of the (single family) market.”
Value increases for condos and townhouses still trailed single family properties, she said, despite strong recent performance.
Price growth for single family homes in 2013 was 7.8 per cent, CREB figures showed, compared to 8.7 per cent for condos.
However, condo prices in the city took a bigger hit after the 2007 boom, Lurie said, and were yet to recover to that peak.
Calgary property taxes are based on the assessments. The city council set this year’s property tax hike at five per cent, but all homeowners whose property assessment rose by more than the six per cent average will pay a greater increase and people with lesser value rises or drops will face a lesser one.
Realtors often warn that assessments aren’t a substitute for actual market value. Assessors normally don’t visit homes, and they only consider neighbourhood home sales up to the previous June 30 — which means they’re already six months behind sales trends.
Residents and business owners can review assessments and appeal by March 4.

By Jason Markusoff and Michael Wright, Calgary Herald January 4, 2014

Calgary home price growth doubles national average

Year-over-year hike of 8.82% best in Canada

Calgary year-over-year home price growth was the best in Canada in November and more than doubled the national average, according to the Canadian Real Estate Association.
The association’s MLS Home Price Index, released on Monday, said prices in Calgary have risen by 8.82 per cent from a year ago while in Canada, for 11 major centres surveyed, they were up by 4.11 per cent.
The index tracks benchmark prices in Canada’s housing markets.
CREA said MLS sales across Canada in November rose by 5.9 per cent to 32,411 units. They were up by 18.7 per cent in Calgary to 2,173 units and increased by 13.1 per cent in Alberta to 4,563 sales.
Related: Canadian home sales, prices stronger than expected
The average sale price in Canada was up by 9.8 per cent to $391,085 and increased by 7.5 per cent in Calgary to $445,114 and by 5.3 per cent in Alberta to $385,217.
CREA also released a revised residential market forecast on Monday. It said sales in Alberta this year are projected to reach 66,300 units, which is a 9.8 per cent hike from the previous year and the best growth rate in the country. Sales will rise an additional 3.5 per cent in 2014 to 68,600 units.
Across Canada, the association is forecasting 0.8 per cent growth this year to 458,200 sales and 3.7 per cent growth in 2014 to 475,000.
As for the average sale price, CREA is projecting it to rise by 4.9 per cent this year in Alberta to $381,100 followed by 3.4 per cent growth, the best in Canada, in 2014 to $393,900.
Across Canada, the association is forecasting 5.2 per cent price growth this year to $382,200 and 2.3 per cent growth in 2014 to $391,100.
“In staggering contrast to the dire forecasts early this year, precisely one of the 26 largest cities in the country has reported a drop in average prices so far this year — Victoria, with a minuscule 0.6 per cent sag,” said Doug Porter, chief economist with BMO Capital Markets. “All of the other 25 cities have recorded single-digit price gains, with the median city posting a non-threatening 3.6 per cent rise.
“When judged by total sales volumes, a measure that combines both price changes and the number of units sold, the hottest markets this year have been Calgary, Edmonton, and, against all expectations Vancouver. All three reported double-digit volume increases, the only cities in that category.”
 
By Mario Toneguzzi, Calgary Herald December 16, 2013

CALGARY REGIONAL HOUSING MARKET STATISTICS – November 2013

SALES GROWTH BOOSTED BY RISE IN NEW LISTINGS…
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Click here on the following link to view the full CALGARY REGIONAL HOUSING MARKET STATISTICS for November 2013
Fifth consecutive month of double-digit trend:
City residential sales totaled 1,730 units in November, a 19 per cent increase in sales volume over the previous year. Following another month of strong activity, year-to-date sales totaled 22,322 units, 11 per cent higher than long-term trends. CREB® President Becky Walters said it appears that several factors are motivating buyers.
“Many first-time homebuyers appear to be moving now to get ahead of any further increases in home prices, rent hikes, or an increase in lending rates,” she said. “And current owners are taking advantage of the recent price gains to upgrade to a home that better fits their lifestyle.” There were 1,823 new listings in the city in November. While this is an 12 per cent increase over levels recorded at the same time in 2012, listings remain below long-term trends and total inventory levels is lower than normal for this time of year.
“Tight market conditions have resulted in higher-than-expected price gains in all sectors of the Calgary market,” said Ann-Marie Lurie, Chief Economist. “However, these increases need to be
put into context.”
Citywide, only the price of single-family homes has fully recovered and started to push above unadjusted levels recorded in 2007. Meanwhile, condominium apartment and townhouse prices remain below peak, Lurie said.
Single-family benchmark prices totaled $470,600 in November, 8.5 per cent higher than one year ago. Meanwhile, condominium apartment and townhouse unadjusted benchmark prices totaled a respective $279,600 and $305,700 in November, 6 per cent below 2007 peak pricing.
Year-to-date, single-family sales totalled 15,533 units, eight per cent higher than the previous year. The higher-than-expected rise in sales activity is due to stronger activity in the second half of the year. Tightness in the condominium apartment market eased in November, as the year-over-year growth in November new listings of 23 per cent outpaced the sales growth of 20 per cent. While overall inventory levels remain 26 per cent lower than levels recorded in 2012, this is an improvement over the declines recorded throughout recent months. Year-to-date sales activity totaled 3,787 units, a 15 per cent increase over the previous year.
Condominium townhouse sales totaled 3,002 units after 11 months, a 21 per cent increase over the previous year. While this sector remains the smallest out of the Calgary housing types, it has recorded the largest gains in sales. “Overall, sales growth in surrounding communities outpaced the city,” said Walters. “They offer the family friendly attractions of small towns, and they’re more affordable.”
Lurie noted the vibrant employment market has encouraged a large number of net migrants into the city over the past two years. Click here to read more! (Or click on the following link to view the full CALGARY REGIONAL HOUSING MARKET STATISTICS for November 2013)

July 2013 CALGARY REGIONAL HOUSING MARKET STATISTICS

STRONG SALES GROWTH IN JULY…
Tight market conditions support upward price trend
july 2013

Click here or on the following link to download the full report: 2013 – July Monthly Housing Statistics

City of Calgary residential sales totaled 2,268 units in July, a 17 per cent increase over the previous year and up more than six per cent so far this year. The flood that devastated the Calgary area on June 20 likely contributed to pulling forward sales activity, said Ann-Marie Lurie, CREB® chief economist.
“Some of this activity is related to the displaced renters and owners seeking other accommodation,” said Lurie. “But those consumers already searching for a home may have sped up their purchase decision, in response to concerns regarding the impact tight supply levels would have on prices.”
The Calgary resale market is firmly in sellers’ territory, supporting price growth. While citywide prices are nearly seven per cent higher than levels recorded in July 2012, the unadjusted monthly gains have been easing. The benchmark price for the city of Calgary totalled $414,100 in July 2013.
“Some sellers have been waiting for prices to recover before listing their homes,” said President Becky Walters. “Current market conditions have encouraged listing growth this month, for single-family homeowners.” A total of 1,575 single-family homes sold in July, a 14 per cent increase over the previous year. Year-to-date, the growth is 2.5 per cent. While year-over-year new listings increased in July to 1,958 units, it was not enough to ease supply pressures in the market. Overall, active listings declined to 2,917 units, nearly 20 per cent lower than already declining levels recorded in 2012.
A total of 693 condominium apartments and townhouses sold in the month, a combined increase of 26 per cent over the previous year, and a year-to-date growth of 16 per cent. Stronger sales growth in the condominium market relative to the single-family market is in part related to availability in the affordable price ranges. Year-to-date, there have been more new listings priced under $400,000 in the condominium sector than in the single-family market.
“Clients looking for affordable homes are considering community, product and price,” Walters said. “While there are affordable single-family homes in some communities, some may prefer condominiums in the same price range so they can live in a preferred community or get a home that requires less
renovation.”
The growing demand for condominiums has also led to a tightening of supply. July active listings in the apartment and townhouse segment declined to 768 and 407 units respectively. Tight market conditions supported price growth for all categories in July. However, unadjusted monthly gains were strongest in the apartment sector. Apartment prices totaled $267,600 in July, a 1.4 per cent increase over the previous month and nearly eight per cent higher than the previous year.
The benchmark price for single-family and townhouses were a respective $461,600 and $294,500 for the month. “While the flooding will alter sales, listings and price trends in the affected areas, the impacts on the entire resale market will likely play out over the coming months,” said Lurie. “July sales growth has been stronger than year-to-date trends and long term averages.
However, if the level of new listings continues to rise, this could help ease tight market conditions.”

Click here or on the following link to download the full report: 2013 – July Monthly Housing Statistics

 

Calgary’s population spikes by 29,000 people in one year…

calgaryyyyCalgary’s population is now growing at the same pace as Houston — the oil capital of Texas and one of the fastest growing cities in the United States.

While Houston has nearly double the Stampede city’s population, Calgary added nearly as many people in a two-year span — 61,370 versus 58,616.
New census data released Thursday suggests Calgary is in the midst of its second-biggest spike in two decades.
Some 29,327 new residents were recorded in a civic tally conducted between April 2012 and April 2013. The city’s population has swelled to 1,149,552 — a jump of 2.6 per cent.
Statistics from the U.S. Census Bureau indicate Calgary is adding people at a faster clip than many major American cities.
A burgeoning population is good for the city economically but brings challenges as well, cautioned Mayor Naheed Nenshi.
“We’re not quite where we were in the height of the last boom, but we’re actually not that far,” he told reporters Thursday.
“So the city continues to grow and with that comes a lot of amazing benefits, but of course a lot of real pressures.”
The fastest growing community in Calgary is Evanston — a newly built neighbourhood on the northern edge of the city — followed by Auburn Bay in the deep south and nearby Cranston.
But the numbers also suggest some meaningful shifts, with several older communities seeing small upticks in population.
A “doughnut” of neighbourhoods built between 1920 and 2000 ring the inner city and historically see stagnant growth. However, many are experiencing a welcome influx of young families to replenish the population.
An interesting case in point is Tuxedo Park, a neighbourhood in the northeast that saw a jump of 7.2 per cent over the past year.
Indeed, a third of the city’s total growth occurred in established communities, with about 10,000 people choosing to call these areas home.
It’s a departure from previous years — and an encouraging trend because it allows the city to make use of existing infrastructure rather than allocate taxpayer funds for new schools, libraries and police, Nenshi said.
“We were slowly hollowing the city out and pushing people into new neighbourhoods in the fringe. It was nothing like Detroit — nothing crazy — but that trend has largely stabilized and is beginning to reverse itself,” he noted.
People are flocking to Calgary — but the mayor insists the situation is different from the boom in 2005, when businesses had trouble retaining workers and newcomers struggled to find affordable places to live.
“We are now better equipped to handle the population,” Nenshi said. “The city might have been surprised by the mid-2000 boom …(but) I think we’re at the point where the infrastructure can handle the population we have.”
University of Calgary sociology professor Kevin McQuillan agrees.
The city’s growth rate of 2.6 per cent puts it at the high end when compared to other North American urban centres, but it doesn’t raise immediate concerns, he said.
“It puts pressure on the city, but I don’t think we’re at the stage where we would call it a real ‘boom’ that could lead to a crisis in terms of the availability of housing or services,” McQuillan said.
It remains uncertain how the June flood will affect the city’s increasingly tight vacancy rates. The tough housing market is expected to intensify when students return to school in the fall. City council is now looking at ways to accelerate the rental market to accommodate displaced apartment dwellers in areas such as Mission.
“We need to prioritize housing that matches the needs of the market,” Nenshi said. “It’s been a problem for some time.”
By Tamara Gignac, Calgary Herald July 25, 2013

Province will ban future development on floodways

In the wake of the largest flood in Alberta history, the Tory government announced a sweeping plan to move homes and businesses out of the areas most in danger from a deluge and to flood-proof other areas at risk from rising waters.

But many of the details of the province’s initiative have yet to be nailed down, and the impact on communities such as Calgary and High River is still uncertain.
In a rare Sunday news conference, Municipal Affairs Minister Doug Griffiths announced the province will ban new development in floodways — the areas subject to the most destructive flows in so-called “100-year floods.”
The province will allow — and pay for — the repair and rebuilding of damaged homes in floodways, but it will not pay for damages from future floods on refurbished homes in those zones, he said. If a property owner chooses to relocate, the province will provide financial assistance for a new home.
Premier Alison Redford said in an interview that the government is trying to provide “the most choice with the least impact,” but acknowledged the policy will mean tough choices for some homeowners.
“There are people who have homes on the floodway that they love and we’re saying, ‘really, if you want to choose to stay there, you have to understand there are consequences.’ That’s going to be hard for people to hear, but I also think that most people are going to realize that makes sense,” she said.
In flood fringe zones — the portion of hazard areas outside of the floodway — the government will pay for repairing or rebuilding homes affected by the recent disaster, but will require flood-proofing such as berms, water control infrastructure or raising the structure.
flood map
The government will pay an additional 15 per cent over replacement costs for flood-proofing measures on individual homes in some cases. In other instances, broader municipal flood mitigation efforts will suffice, but that will only be determined through consultation with municipalities, Griffiths said.
If no flood-proofing takes place, homeowners will not be eligible for disaster assistance in the case of a future inundation. Homeowners in floodways and flood fringe areas across the province who weren’t affected by the recent flooding in southern Alberta and Fort McMurray won’t be relocated and will still be eligible for assistance in case of future flooding.
Griffiths acknowledged the province has no estimate of the number of houses affected by the new policy — though he says the amount located on floodways is small — or the cost involved. The Progressive Conservative government announced an initial $1-billion for flood relief and reconstruction, but said more money would certainly be needed for a disaster estimated as causing multiple billions of dollars in damage.
Mayor Naheed Nenshi said he knows the government had to move quickly but he was surprised that such a major policy shift would take place without consultation with municipalities.
While he doesn’t disagree with the government’s intent, Nenshi is concerned about how the government will determine what properties fall within each category, saying there are differences in expert opinion over what areas should be considered floodways and what should be designated flood fringe areas.

“Our city is built at the confluence of two rivers,” he said in an interview.
“We really need to know what we’re talking about here. We ended up evacuating nearly 100,000 people, a 10th of our population, and we really need to understand what the province is talking about when we use those terms.”
Bowness, Elbow Park, Mission and Sunnyside were among the neighbourhoods hardest hit by the flooding, which began on June 20.
Nenshi noted that both the Bow and Elbow Rivers have carved slightly new courses because of the flood, requiring updates to flood mapping.
Griffiths said the province will use its existing flood hazard area maps, subject to some tweaking, to determine who falls where.
He noted that some neighbourhoods that suffered the worst flooding in High River — the town that has suffered the most from the catastrophe — have never flooded before and have not been considered part of either a floodway or flood fringe zone. What to do in cases like those has yet to be determined, he said.
Griffiths also could not say whether residents in floodways that choose to leave damaged homes will be compensated for their land, as well as the cost of their homes. He said the province will work with municipalities on a “case-by-case” basis on the issue.
“We fully understand these policies come with extensive considerations and while we don’t have all the answers to all the individual situations faced by Albertans today, we’re working as quickly as possible with municipalities to finalize the details,” said Griffiths.
Griffiths said the province will also require notification on land titles for properties in floodways and those in flood fringe areas that have not been protected against flooding.
Wildrose party Leader Danielle Smith, who represents High River as Highwood MLA, said she wanted to see the government commit to investigating the causes of the flood.
But Smith said she is in agreement with the broad outline of the government’s plan.
“What they are proposing at first blush seems to be practical,” she said.
“But what I worry about is that they’re putting almost 100 per cent of the blame and the responsibility on homeowners to solve this problem. In my opinion, there are some big, important infrastructure decisions and mitigation decisions that need to be made by the federal and provincial and municipal governments.”
With files from Don Braid, Calgary Herald
floooood

"Tourists really just appreciate these destinations in Alberta"

Survey finds jasper hotels dearest in Canada

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Lucky us (Calgarians)! We have a beautiful destination spot right in our backyard, all year ’round!

A new survey of hotel rates casts Alberta as a pricey summer destination.
Jasper is Canada’s most expensive summer destination based on hotel cost for the summer’s main travel period of July 1 to Aug. 31, according to a survey by online accommodation booking site cheaphotels.org.
Besides having a destination in top spot, Alberta also shares with British Columbia the dubious distinction of having five communities in the 20 most expensive destinations in the survey.
The average rate for Jasper’s cheapest available double room in July and August was $189.
The second costliest place to spend the night was Tofino, B.C., at $177. Rounding out the top three was Niagara on the Lake at $174. The other Alberta destinations were Fort McMurray at No. 6, where the average rate for the most affordable double room was $145. Banffwas No. 10, at $130, followed by Calgary in 11th spot at $129. Canmore was No. 14 at $127.
Only destinations with a minimum of 10 hotels were considered and only hotels rated two stars and above were included in the survey. It’s the first time cheaphotels.com has surveyed Canada, while it has done two surveys for the United States.
Daniel Berger, spokesman for cheaphotels.com, said it is difficult to explain why Alberta destinations figured prominently on the list.
“It’s probably just tourists really just appreciate these destinations in Alberta,” Berger said. “Sometimes there are just not enough hotels in these places. It’s just lack of hotels on offer so that’s very often the reason why rates are that expensive.”
Mary Darling, interim CEO of Tourism Jasper, said she does not believe the survey will deter visitors although she has heard concerns raised by some travellers about accommodation costs.
Canada’s priciest summer destinations 1. Jasper $189 2. Tofino $177 3. Niagara on the Lake, Ont. $174 4. Wasaga Beach, Ont. $167 5. St. John’s $166 6. Fort McMurray $145 7. Parksville, B.C. $137 8. Regina $134 9. Kelowna $131 10. Banff $130 Source: cheaphotels.org.
Prices reflect the average rate for each location’s cheapest available double room.
“We have heard sometimes the hotel rates look a little expensive, but we also are open year-round and there is opportunity to come and see us at different times of the year too,” Darling said.
Bruce Okabe, CEO of Travel Alberta, the provincial tourism marketing agency, was not worried about the cheaphotels.org survey.
“Until today, I’ve actually never heard of them,” said Okabe, who questioned why a pricey destination such as Whistler, B.C. did not make the list.
“Does it give Alberta a black eye? I don’t think so.
“At the end of the day, our national parks and resort areas are in high demand, especially during the summer travel season.
“Value is relative. These are some of the most beautiful places on earth that we’re talking about in terms of Jasper and Banffand Calgary and Canmore, so I think this is a supply and demand question.”

Bill Mah, Postmedia News – Published: Friday, July 12, 2013

Well then… why not live here?

With the lowest top marginal income tax rate and the highest basic and spousal deductions in Canada, Albertans pay low personal income taxes and Alberta is the only province with no provincial sales tax. Albertans also enjoy a publicly administered and funded health care system that guarantees universal access to necessary hospital and medical services. Alberta has among the lowest provincial gasoline tax and lowest property taxes in Canada.
Alberta’s favourable business environment encourages investment and allows companies and industries to compete and succeed. Our low personal taxes, strong labour force and modern infrastructure provide additional advantages. Alberta businesses benefit from having among the lowest corporate income taxes in Canada and no general payroll or capital taxes.
For more information about Alberta’s low cost of living, see Cost studies.
CALGARY

June 2013 Monthly Housing Statistics

JUNE SALES EXCEED EXPECTATIONS!
Too soon to see impact of flood on resale statistics…

Click on the link below to download your full report:
2013_June Monthly Housing Statistics Report
JUNE

City of Calgary monthly residential sales totaled 2,317, a six percent increase over June 2012 figures, and nearly five per cent higher than levels recorded in the first half of 2012.
However, the impact of recent flooding is expected to trickle into the housing
statistics over coming months.
“While sales and prices continue to show improvement, the city and residents of communities impacted by the recent flooding will face significant remediation challenges over the coming months” said Ann-Marie Lurie, CREB® chief economist. “Until the extent of the damage is known, it is difficult to accurately assess the full impact this will have on the city’s housing market.”
The level of new listings totaled 3,003 units in the city, a nine percent drop over the previous year. The rise in sales, combined with the drop in listings, is keeping overall market balance in favour of the seller.
Active listings totalled 4,584 units in June, of which more than 660 units are listed in flood-affected areas. Active listings are nearly 20 percent less thanlast year.
“In the coming months, flood victims, particularly those who were planning on selling their homes, will have some big decisions to make,” said Becky Walters, CREB® President. “Will they take a discounted price? Or will they stay and fully remediate the property?
Either way, in the short term, housing supply will likely be relatively tight.”
Condominium sales growth outpaced gains in the single family sector, as less availability of single-family homes priced at less than $500,000 have improved the demand for the relatively affordable condominium market…
 Click on the link below to download your full report:2013_June Monthly Housing Statistics Report

For Sale!

 
For a virtual tour visit: http://www.obeo.com/803298

803298_700
floor plan
This is your opportunity to live in the prestigious community of Garrison Woods in the luxurious “Versailles” complex on a quiet cul-de-sac (with virtually no traffic – & not in the flood plain). Take advantage of this prime inner city location – walk to schools, Starbucks, Safeway, shops & restaurants. Easy access to downtown and all areas of the city. Appreciate over 2000sqft a fully finished basement and numerous special features: kitchen with stainless steel appliances, granite counters, breakfast bar and massive island. An open concept kitchen, living rm with cozy fireplace and built in shelving – the perfect area to entertain! Master bedroom complete with 5pc ensuite and spacious walk in closet. The 2nd bdrm also includes another ensuite! Relax in your loft or enjoy the view from your comfortable covered balcony. A bright & sunny home due to numerous windows. Private fenced yard w/ gas BBQ hook up and a large dbl garage. Low maintenance care free life-style with low utility bills- just move in!