527 14 AVENUE NE – $469,000
Do not miss this opportunity to live inner city on a beautiful tree lined street in sought after Renfrew. This home is in superb condition with numerous upgrades and special features. Refinished hardwood flooring, stunning open concept white kitchen w/ stainless steel appliances, dble gas oven, plenty of storage, granite counter tops, spacious & bright master, walk in closet in 2nd bdrm,newer furnace and hot water tank, oversized dble garage (loft for extra storage), SOUTH facing backyard yard & much more. Charm & character has been maintained with some of the original unique details such as the fireplace, doors & door knobs, heating vents. Basement is large with potential for suite. Also, this well maintained home was originally built to provide a 2nd floor if so desired. Fantastic location: just minutes to downtown, walk to the park and schools & in a playground zone slowing the minimal traffic. Click here to view the virtual tour!
www.searchallcalgaryrealestate.com
RECREATIONAL PROPERTY REPORT – 2016
As real estate prices rise, many Canadians are looking for alternative ways to finance their dreams of cottage or cabin ownership. In a recent survey of RE/MAX agents and brokers, more than half reported seeing an increase in buyers who planned to rent out their property full- or part-time. In a separate survey of Canadians, conducted by Leger, nearly 60 per cent agreed that due to the emergence of popular, user-driven vacation rental websites, it is easier for an owner to rent out an investment property today versus five years ago.
The Leger survey also found that millennials were most likely to have spent time at a cottage or cabin in the past year, demonstrating that young Canadians are sustaining demand for access to recreational properties. This provides an opportunity for buyers to finance their second homes, most notably in high demand areas such as Grand Bend, Ontario, Tofino, B.C., and Quebec’s Eastern Townships.
In most of the regions that reported an increase in buyers planning to rent out their properties, demand is driven primarily by families and retirees, rather than investors. Retirees were reported as being key drivers of demand in 83 per cent of regions surveyed, and 53 per cent of regions reported an increase in retiree buyers this year compared to last year.
As the large demographic of Baby Boomers retires, sellers who benefitted from significant price appreciation in cities like Vancouver and Toronto are putting that equity into recreational markets, which is causing prices to increase in those regions. Some buyers who may still be five or 10 years away from retirement are taking the opportunity to enter those markets now, renting out their property until they are ready to retire.
This effect has been especially pronounced in British Columbia, where significant price increases in the Lower Mainland are encouraging buyers to invest in regions such as the Okanagan and the Gulf Islands.
The low Canadian dollar is having a positive effect on Canada’s recreational property markets. Canadians, mainly Baby Boomers, who bought properties in the U.S. when U.S. real estate prices were comparably low are selling them at a profit and investing in Canadian recreational markets. The low dollar is also encouraging Canadians to vacation within the country rather than going abroad, putting their money into vacation rentals closer to home.
Some regions, particularly established recreational destinations with international reputations such as Whistler, the Muskokas and Mont Tremblant, are seeing foreign buyers, primarily from the U.S., return to those markets. Cape Breton Island, which recently made international news when a website “Cape Breton If Donald Trump Wins” gained the attention of high-profile news media, has seen increased interest from prospective U.S. buyers this year due to the publicity boost, combined with favourable exchange rates.
Click on the following link: 2016RecreationalPropertyReport for the full report.
Just Listed in the Beltline
CLICK HERE for a Virtual tour! |
Just Listed in Hanson Ranch
4 bedroom, 3.5 bathrooms 2 Storey home – Do not miss this one! $485,000
| Located in the quiet neighborhood of Hanson Ranch; this cozy 4 bedroom, 2 storey home with one of the largest yards on the block & a fully finished basement is not to be missed! Special features are numerous: beautiful hardwood floors, lots of light from large windows, open concept floor plan (excellent for entertaining), cozy gas fireplace, bright & spacious kitchen, lots of prep space & room for 2 cooks (plenty of storage & counter space), upgraded hood fan, built-in wine rack, pantry, bar style seating & large dining nook looking onto your yard. Master bedroom has 4pc ensuite; soaker tub/separate shower & walk-in closet. Lower level fully finished including large family room, 3pc bathroom & flex rm; perfect space for a nanny. Walking distance to grocery store, banks, liquor stores, Tim Hortons, 5 playgrounds/parks within walking distance, wildlife at ponds at base of the hill and school bus stop is just across the road. Easy commute via Beddington Trail/Deerfoot Trail, Stoney Trail, 14 ST & Shaganappi! Click Here to view more photos! |
Monthly Statistics Package for the City of Calgary
Housing supply swells in cool spring market
Calgary’s housing inventory was on the rise once again in May as new listings climbed and sales slowed to 1,923 units.
“While recent oil price gains may have some feeling optimistic, weakness in the labour market continues to impact housing demand,” said CREB® chief economist Ann-Marie Lurie. “Job losses are spreading into other sectors, wages are declining and unemployment levels remain high. At the same time, we’re seeing housing supply levels rise in the rental, new home and resale markets.”
Inventory levels rose by 14 per cent in May to a total of 6,148 units. Every product type is experiencing these gains, but the largest inventory growth has occurred in the apartment and attached categories.
Together, these sectors represent half of all resale inventories in Calgary. “The resale apartment market has been the most difficult for sellers,” said CREB® president Cliff Stevenson. “They are competing with improved selection in the lower price ranges of the detached and attached markets, and facing increased competition from the new home sector, where builders are offering incentives to attract potential buyers.”
While apartment resale supply remains 22 per cent below the May high of 2,055 units in 2008, the combination of rising supply in the apartment sector and steep declines in sales activity has elevated months of supply to nearly six months.
The apartment sector of the market has experienced buyers’ conditions for more than 10 months, so the impact on pricing is more dramatic, compared to the detached and attached sectors.
In May, the apartment benchmark price totaled $278,500, a monthly and year-over-year decline of 0.7 and 5.6 per cent. In the detached and attached markets, home prices totaled $500,500 and $332,100, a year-over-year decline of 3.4 and 4.3 per cent.
Click on the following link for the May_2016 Calgary Housing Market Statistics Report
LUXURY AND SAFETY — DEEP UNDERGROUND?
So if you’re one of the few people left on Earth, can you still live in luxury? What if you’re stuck in an underground bunker? Survivalists are already answering these questions — with incredible survival bunkers built with the luxury lifestyle in mind.
There’s one luxury bunker in Tifton, GA, built more than 40 feet underground. It features seven apartments, a 15-seat movie theater for residents, and even has working internet access. For practical purposes, it includes decontamination showers and an outdoor firing range. And of course, it can withstand a nuclear blast. But none of this comes cheap — the price tag is about $17.5 million.
About 687 miles northwest of Tifton, there’s an underground bunker (at an undisclosed location) called Vivos Indiana. Originally a government communications facility, it’s now been repurposed as a luxurious hangout for survivors of any type of catastrophe.
With 12-and-a-half-foot ceilings in the living area, plush carpets and rows of reclining chairs, the living area is a great place to spend some quality time. 60 varieties of freeze-dried and canned foods fill the cupboards, complemented by the fresh bounty of a hydroponic garden. Units designed for four to six residents feature double-queen bunks with gorgeous bedding — the kind you’d find at a Ritz-Carlton!
Pet kennels. A gun safe. Exercise and medical facilities. Powerful generators and high-grade filters built to keep the residents warm and safe. And just a $35,000 entry fee.
Built by a former real estate entrepreneur — who sold shares of villas in luxury destinations such as Aspen and the south of France — these kinds of facilities are attracting the interest of many affluent Americans. (In the last several years, the U.S. has added more than 1.5 million new millionaires.)
And this isn’t a uniquely American phenomenon. The Vivos franchise extends to europe, where a similar-but-larger facility was built in a former munitions storage facility in Germany. This billion-dollar property can house 34 families for a full year, with swimming pools, a wine cellar and more — priced in the $3 to $5 million range.
Clearly, if you have a few million dollars to spend — and you’re a bit worried about war or meteors or nuclear plant meltdowns — you have options.
The folks at SurvivalCondo.com can help you build your own luxury bunker, with half-floor, one-level units at about 920 sq. ft. starting at $1.5 million. Full-floor units are about twice that size and price, while “penthouse” units of about 3,200 sq. ft. on two levels start at $4.5 million.
As is always the case with luxury real estate, the bigger the budget, the more options you have. Luxury survival bunkers are a growth market — and while there is a natural limit to how big it will get, there’s definitely a need.
So if you have a client who’s a bit paranoid about world-changing events — but also a predilection for the finer things — now you know what kinds of showings to schedule!
Monthly Statistics Package as of May 1, 2016
Minding the gap – Sellers continue to adjust pricing expectations
Market imbalance in Calgary’s residential resale housing market continued to weigh on citywide prices in April. Much like the previous month, year-overyear sales fell while new listings increased, resulting in inventory gains across all sectors of the market. As a result, benchmark prices in the city declined by 0.4 per cent from last month, and 3.4 per cent from last year, to $441,000.
For sellers, the reality of seven consecutive months of price declines has started to sink in, said CREB® president Cliff Stevenson. “From re-considering the listing of their home to lowering expectations on price, sellers are beginning to adjust to the current market reality,” he said. “However, some buyers in the market are still not willing to pull the trigger because they expect even bigger discounts. And so that gap between buyers’ and sellers’ expectations still persists across many product types and locations.”
Despite this, the detached sector fared better relative to the other sectors of the market. While detached sales activity has fallen by over four per cent so far in 2016 compared to last year, the sales to new listings ratio improved in April. This prevented sharper inventory gains and caused months of supply to move toward more balanced levels. The same cannot be said of other market sectors. Year-to-date apartment and attached sales declined by a respective 19 and 13 per cent compared to last year. Slower sales, combined with rising inventories, ensured that market conditions continue to favour buyers in these segments.
“While the weak economic climate is influencing demand, the apartment and attached sectors are further impacted by increased supply in the competing new home sector and rental markets,” said CREB® chief economist Ann-Marie Lurie. “This is one of the contributing factors to the steeper price declines recorded in the apartment sector.” Since the start of the price declines monthly unadjusted benchmark apartment prices have declined by 7.6 per cent, while semi, row and detached have declined by a respective 5.9, 4.6 and 4.1 per cent.
Click on the following link: April_2016 for the full report!
Mission: great location, totally renovated, 672sf $219,000
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#101 112 23 AV SW – $219,000 Mission a wonderful neighborhood to call home! Walk to downtown, recreation center, trendy restaurants, C-Train & all the numerous amenities this inner city community has to offer. Walking and biking paths just steps away – who needs a car (fabulous walk score). This lovely unit has had numerous renovations. Special features include: newer flooring ( Maple Wheat hardwood & ceramic tile) /kitchen counter-tops/ cabinets/black appliances. You will appreciate the sliding glass doors to your private outside patio area, in-suite laundry with newer upgraded washer/dryer, your parking stall is right outside your unit. Although the property is partially below grade- it has large windows allowing plenty of sunshine in this South facing unit into the kitchen and living room. This property is a wonderful place to call home or purchase as an investment (current tenants may consider staying if so desired). Do not miss this outstanding opportunity! Click Here to see more! |
The 2016 Spring Market Trends Report is out!
Sustained price appreciation in Vancouver and Toronto is revitalizing surrounding areas, according to the Spring Market Trends 2016 Final Report
National Summary: Vancouver and Toronto continued to see significant price appreciation in the first quarter of the year. Greater Vancouver’s average residential sale price in the first quarter of 2016 compared with the same period in 2015 rose 24 per cent, while single-family homes in the city of Vancouver crossed the $2 million threshold. In the Greater Toronto Area, the average residential sale price during the first quarter rose 14 per cent to $675,492.
The competition in both Vancouver and Toronto among buyers has discouraged sellers from listing their properties, thus further reducing inventory. While sellers know their homes would be quick to sell, many are reluctant to become buyers themselves and enter the highly competitive market.
Also, some potential sellers are hesitant to list their homes believing that home prices could appreciate further. However, not all Canadians can wait out the housing market as many are relying on their homes as a source of retirement income. According to a recent RE/MAX poll conducted by Leger, 56 per cent of Canadians 55-64 who are considering selling their homes are doing so to release equity for retirement.
Outside of Vancouver and Toronto, surrounding regions continue to experience a spillover effect as buyers move farther out in search of affordable single-family homes. This has led to significant price appreciation in regions such as Victoria (+10%), Hamilton-Burlington (+10%) and Barrie (+14%). The population growth in these regions, driven by housing demand, is growing local economies as restaurants, shops and services expand…
Calgary Summary: Calgary had a slow start to the spring real estate season as oil prices dipped in January, making buyers and sellers hesitant to enter the market. Once oil prices showed signs of beginning to recover, there was a corresponding uptick in real estate activity as well. Sales were down slightly in the first quarter of the year while listings were up.
There were 6,084 active listings at the end of March, compared with 5,704 the same time last year. With more inventory on the market compared with previous years, the properties that sell are those that are priced correctly and show well. While continued uncertainty in the oil industry has made some buyers hesitant, there is interest in the market and open houses are busy.
Other findings in this year’s report:
– Diversified economies and capital projects mitigate short-term effects of low price of oil in Calgary, Edmonton and St. John’s
– Millennials, especially in Ontario and BC, are counting on their parents’ help to purchase their homes
click on the following link for a .pdf of the Spring Market Trends 2016 Final Report
Alberta credit downgrade
+ Alberta got a credit-rating downgrade following its budget; Finance Minister Ceci explained it as something to be expected; DBRS dropped its AAA rating to AA (pronounced double-eh)
+ Alberta Investor Tax Credit (AITC) was announced to encourage small business investment
+ April land sale in Saskatchewan netted $3.1 million, pretty pale compared to same period last year ($22.8 million)
+ Bank of Canada maintained its overnight rate target of ½ of 1%
+ Calgary property taxes for 2016 expected to rise 6.1%; while City Council had planned on a 3.5% increase, the increased education tax portion required by the province will push rates up …
+ current energy prices – live link to Bloomberg energy prices; some decline in U.S. supply, Kuwait says Iran isn’t essential to production freeze strategy – WTI crude above US$40/barrel last week has dropped 5% but later recovered to finish 1.4% off in New York on news from Doha meetings that a production freeze agreement was not reached by OPEC members; all of this posturing with Iran looks bizarre from here, especially when a Deputy Saudi Prince threatened to boost production 1 million barrels/day, which seems rather an empty threat after Iran skipped the meeting – good news, crude prices rebounding this morning: Brent US$43/bbl, WTI US$40/bbl …
+ FACILITYCalgary – NEW e-mail NEWSLETTER format is HERE! … new format, a more mobile-device friendly format we hope you enjoy – feedback encouraged, let me know your thoughts please …
+ FACILITYCalgary’s OP-ED page, guest article: ‘Put away the crystal ball’, by Alan Tennant, CEO @ Calgary Real Estate Board – click VIEWPOINT TAB
+ Husky Energy Inc.’s asset sale has reported interest from Teine Energy Ltd. and Raging River Exploration Inc. with other firms interested in small portions of the $2.1 billion portfolio … tic toc …
+ Northern Frontier Corp formed a board committed to review strategic alternatives
+ Notley Government Budget; Finance Minister Ceci delivered his budget speech; Budget 2016 and a Jobs Plan with contemplates a $10 billion deficit this year – and which includes a 2016-2019/$34.8 billion Capital Plan ; no plan at all for paying down a deficit, or when
+ Notley Government is cutting small business tax rate; from three (3%) to two (2%); billed as part of theClimate Leadership Plan, which is supposed to offset increased carbon taxes born by small business while, apparently, big business will just to have to pay. Though the program promises $90 million in tax relief, for small businesses facing large losses, it will be of little comfort …
+ OPEC meeting in Doha, Qatar – ended without agreement after Saudi Arabia made it clear they would not agree to a freeze on output without Iran being part of an OPEC-wide freeze; next meeting is in June/16
+ Packers Plus Energy Services Inc. and Schlumberger formed a ‘global alliance’, whatever that means – but their press release sounds like they want to sell things to each other
+ Penn West Petroleum Ltd. closed $148 million sale of its Salve Point area assets
+ Penn West Petroleum Ltd. closed $50 million sale of non-core assets
+ Penn West Petroleum Ltd. reached agreement to sell $30 million sale of non-core assets
+ Prime Minister Justin Trudeau spoke positively about Energy East and Trans Mountain Expansion pipeline projects; just talk. No promises of actual action – hard to glean whether he is motivated to get out his approval pen or just making political hay after the NDP floated their ‘ostrich head in the sand LEAP proposal’ against any new pipelines anywhere in the country. Ironically, these new pipelines will be the safest ever built anywhere. Perhaps the NDP are in favour of the ‘car-less driver’ concept …
+ RioCan REIT broke ground on its East Village development (on the former Calgary Police Association property); RioCan will retain 100% ownership of 180,000 sq. ft. retail component (Loblaws will food-anchor with an 82,000 sq. ft. City Market), while Embasy Bosa will take on a $300 million high rise condo development (500 condos).
+ SilverBirch Hotels and Resorts broke group on their Beltline project (former Alberta Boot property); scheduled for completion by 2019, 34-storey extended stay hotel (300 rooms( and conference centre) will be flagged as ‘Residence Inn by Marriott
+ Stantec Inc. agreed to acquire MHW Global for US$793 million
+ UBS AG, the Swiss bank, closed its Calgary offices
+ U of C School of Public Policy published a paper on carbon taxation
+ U.S. regulatory change; requirements for onshore electronic monitoring of offshore wells and accompanying regulations in response to the Deepwater Horizon disaster have industry players reeling, protesting the costs would be prohibitive to new development, claiming increased costs to industry will be more than US$31.8 billion in the first decade
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THIS WEEK IN FINANCINGS
– proposed & closed
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+ Brookfield Asset Management Inc. closed it’s Brookfield Strategic Real Estate Partners II fund, a US$9.0 billion equity financing
+ Brookfield Office Properties Inc. is on the market to raise $150 million by a preferred share issue + Cara Operations Limited closed $230 million equity financing + GFL Environmental Inc. closed US$200 million senior unsecured debt financing + Innergex Renewable Energy Inc. closed $50 million equity financing + New West Energy Services Inc. closed $623,313 equity financing + Pembina Pipeline Corporation is on the market to raise $250 million by a preferred share issue + Sienna Senior Living Inc. is on the market to raise $138 million in equity + Stantec Inc. closed $604 million equity financing + Synergy Resources Corporation closed US$164.8 million equity financing + TransCanada Corporation is on the market to raise $500 million by a preferred share issue + US Oil Sands Inc. is on the market to raise $12.8 million by a rights offering |
Source: http://facilitycalgary.com/facilitycalgaryapr1916.html