Luxury living at it’s finest!Over 3600sqft of developed living space -This property is in supurb condition –a lovely family home. Numerous special features:Welcoming Grand Foyer,vaulted ceilings in living rm w/ plantation shutters & numerous windows allowing plenty of sunlight; Family Room w/ cozy fireplace & built-in bookshelves; Open concept dream kitchen w/large pantry,oak cabinetry, island & seating area w/ sunny bay window;Formal dining area;Den/office, main fl laundry/mud room leading to heated dbl garage (cold storage in attic), 3 bedrooms up & Master Bedroom w/deluxe 5pc ensuite bathroom & VIEWS & spacious walk-in closet.Appreciate your walkout basement w/ 8 man hot tub, Rec Room w/ fireplace & 4th bdrm –the perfect area for entertaining or just enjoying a relaxing time at home. Fabulous deck off kitchen, massive new back patio w/ firepit & fun inlaid chess board.Situated on pie shaped lot- located on a quiet cul-de-sac backing onto green space leading to Ravine w/ stunning views to the North. Listed at just $675k.
luxury homes
Just Listed in Mount Pleasant – Executive Home!
807 26th Avenue NW – $1,575,000
Live in the sought after inner city community of Mount Pleasant- just steps from Confederation Park. Numerous custom features throughout: Hydronic heat system, AC on upper level, walnut hardwood, crown moldings, coffered ceiling in foyer, Hubbardton Forge & Murray Feiss lighting, Global custom blinds, open concept kitchen w/ inviting family room (including fireplace & built-in wall unit) the perfect area for entertaining (as well as a separate formal dining rm), all appliances are superior models, large patio doors leading to your SOUTH facing private yard, deck & lovely landscaped yard, main floor den, practical mudroom, upper level laundry, master bedroom includes a cozy sitting area with a fireplace- step out to your balcony enjoy the park & Nose Hill, fabulous 5pc ensuite/ separate dressing rm , the 2 additional upper bedrooms share Jack+Jill bathroom. You will appreciate the media/rec room,guest suite w/Thermasol steam shower on lower level. Spacious triple garage .This could be your dream home! CLICK HERE to view a virtual tour!
Investors Alert! Banff trail – suited bungalow for Sale!!
Banff Trail R-C2 60 foot frontage. Investors, this is a supreme revenue property or live up and rent down to supplement your mortgage. Excellent site for future development in this sought after mature community. Incredible location for students, walking distance to U of C and just steps to the LRT. Newer roof, newer siding. Large lot with double car garage. Eat in kitchen with plenty of cupboards and counter space, newer stove. Hardwood on main, updated bathroom and 2 bedrooms. Shared laundry in rear foyer- newer washer and dryer . Lower level 2 bedroom suite is spacious with newer laminate.An opportunity to own an inner-city home with present and future potential. Click Here for more details!
Spotlight on Luxury – RE/MAX Collection Report
Sales of homes priced over $1 million were up year-over-year in Toronto, Vancouver, Montreal and Victoria in the first seven months of the year. Calgary was the exception; sales in the $1 million range decreased 28 per cent over the same period in 2014.
In Canada’s two largest luxury markets, sales of homes $3 million and up saw impressive gains. In the Greater Toronto Area, sales in this range increased by 119 per cent and in Greater Vancouver by 79 per cent between January 1 and July 31.
The increase of sales at the top-end of the luxury market can be attributed to two factors. One is overall price appreciation in both markets, driven by low inventory and high demand for single-family homes that hasled to more homes meeting the higher dollar threshold. A second factor is high demand for luxury homes from foreign buyers in both markets.
In Calgary, a healthy 2.3 to 2.5 months’ supply of inventory in the $1 million plus range has brought a more balanced market to the city. Luxury buyers are not witnessing a notable decrease in price; however, there is less pressure for buyers during the negotiation process. With more inventory available, conditions like home inspection and financing, which were rarer when buyers were frequently in a competing offer situation, have become part of the normal negotiation process again.
RE/MAX brokers and agents reported that foreign buyers have continued to drive demand in the Vancouver and Toronto luxury markets in the first half of 2015. These buyers, primarily from China, are typically families with children who are relocating to Canada to live. They’ve chosen Canada for its stable economy and high quality of life, and their real estate decisions are strongly influenced by proximity to good schools.
Although foreign buyers are less active in Montreal’s luxury market compared to Toronto and Vancouver, RE/MAX brokers and agents have reported a substantial increase in foreign buyers in Montreal during the first seven months of 2015. Its relative affordability, aided by the strength of the yuan compared to the Canadian dollar during this period, make the city a
good value proposition for foreign buyers.
In regions where condominiums are a significant part of the luxury market, sales of condominiums priced over $1 million rose year-over-year. Montreal, Toronto and Vancouver all saw an increase of high-end condominium sales. While demand in the luxury freehold market was driven primarily by families, luxury condominium buyers tend to be Baby Boomers who are downsizing during retirement. These buyers tend to spend part of their time in a second home or travelling, and choose condominiums for access to luxury amenities without the maintenance required of a house.
Based on interviews with RE/MAX brokers and associates, luxury market trends seen in Canada’s major markets during the first seven months of the year are expected to continue through the end of 2015. Click Here or on the image below for the full report:
Two-tower condo project a 'landmark development'
A two-tower condo project with 319 residential units is coming to the west end of downtown Calgary.
Grosvenor and Cressey Development Group plan to build the towers – one 24 storeys, the other 18 storeys – at the corner of 5th Avenue and 10th Street S.W., with construction expected to start late this year or in early 2014.
Sales for the Avenue project will be launched in the coming weeks, said Michael Ward, vice-president of Grosvenor in Calgary.
The latest downtown condo development was revealed as construction on another – Qualex Landmark’s MARK on 10th project – began blocks away with a ceremonial ground breaking on Tuesday.
MARK on 10th, located at 10th Avenue and 8th Street S.W., will be a 35-storey building.
The Calgary Real Estate Board said year-to-date sales in the condo apartment category, to March 18, are up almost 10 per cent from the same period a year ago. The average sale price has risen by 6.5 per cent to $290,048.
Grosvenor is also building the 17-storey, 135-unit Drake tower in the Beltline neighbourhood, at 15th Avenue and 7th Street S.W. Construction will be completed there in October.
“Watching Drake and watching the sales there it’s been quite good,” said Ward.
“That project is almost sold out now and that sort of gave us the confidence to move with the next project which is Avenue,” he said.
The Avenue partnership between Grosvenor, a privately owned property investment and development group, and Cressey, a residential and commercial development company, will redevelop the corner of 5th Avenue and 10th Street S.W. into what it calls a “landmark development.”
Ward said the development will be located on one of the few remaining parcels of land in Calgary’s west end.
Work has also started on Smith, a new multi-family project located adjacent to Drake.
Mario Toneguzzi, Calgary Herald
Published: Wednesday, March 20, 2013
Luxury home sales reflect city's wealthy population
Record-breaking luxury home sales and a flood of high-end retailers into the city are just two indicators of Calgary’s growing wealthy population.
Recent statistics from Investor Economics Strategy Consulting show Calgary not only has more high net worth households than any other city in the Prairie provinces, but Calgary’s wealthy are actually richer, on average, than the wealthy in any other Canadian city. Looking only at households with a net worth of $500,000 or more, these wealthy Calgarians average out at a net worth of $3.3 million each. Toronto’s high net worth households average $2.2 million, while in greater Vancouver, the households that fall into that category have an average worth of $2.1 million.
Recently, the national head of a new BMO Private Banking Division – aimed exclusively at meeting the investment and estate planning needs of the ultra-rich – made a visit to Calgary to host information sessions for some of Calgary’s wealthiest.
“Clearly, there is an opportunity given the size of the market,” said Diana Reid.
Meghan Meger, Alberta Regional Director for the BMO’s Private Wealth Group division, said Calgarians in a high net worth position run the full spectrum, from professionals with young families to longtime, more senior Albertans.
“We are seeing second and third generations with even emerging fourth generation business families, from both the oilpatch and the cattle industry,” Meger said.
BMO is not the only organization taking notice of Calgary’s wealth. In the last couple of years, Chinook Centre shopping mall has welcomed a host of luxury retailers, from Louis Vuitton and Gucci to Tiffany’s, Michael Kors, and Burberry. In September, the mall announced that high-end American department store Nordstrom will be moving into space recently vacated by Sears.
Terry Napper, general manager of Chinook Centre, said there was a time when luxury retailers were only interested in the Toronto and Vancouver markets.
One of the first high-end retailers to land at Chinook Centre was kitchen store Williams-Sonoma in 2007.
“It was very difficult for us to convince them that they should have a store in Calgary,” Napper said. “But we did that deal, we opened them, and they were amazed at the results. And of course, that word started to spread and our leasing team started to get inquiries from other similar retailers … Since we’ve announced the Nordstrom deal, we’re getting inundated with these high-end luxury retailers that want to come to Calgary.” Napper said Chinook Centre is on track to reach $700 million in sales by the end of 2012.
On the real estate scene, sales of luxury homes in Calgary’s resale housing market have already set a record this year. In October, Calgary hit 459 year-to-date MLS sales of properties over $1 million, one more than the previous record set in 2007 for the entire year.
Last year, there were 446 luxury home sales in Calgary and in 2010, there were 365.
Corinne Poffenroth, a realtor with Sotheby’s International Realty Canada, told the Herald last week that her high-end inventory has had a record number of inquiries and interests in the last quarter.
Amanda Stephenson, Calgary Herald
Published: Wednesday, November 07, 2012