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Just Listed in Country Hills Village!!

Welcome to your opportunity to live in the sought after complex of “Lighthouse Landing”. This 3 bedroom & 2 1/2 bath town home offers numerous advantages such as being a quiet end unit with the extra bonus of TWO titled parking stalls! Special features of this home include: upgraded lighting package, granite counter tops in the kitchen and spacious breakfast bar, 4pc master ensuite, WEST facing front porch, sliding glass doors to the rear deck & roughed in plumbing for future development in the basement if so desired. This is a sunny & bright unit with lots of natural sunlight. The open concept design flows from the living rm with cozy gas fireplace to the kitchen. The dining area with tile flooring opens to a pleasant deck with gas line for summer BBQ’s. The perfect home for entertaining guests. Prime location close to several amenities: schools, theater, restaurants, walking/bike paths, easy access to Cross Iron Mills & airport and just 1/2 a block to the downtown bus stop. Enjoy a carefree lifestyle! Virtual Tour: http://www.obeo.com/876817
 

185 COUNTRY VILLAGE MR NE – $349,000

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Luxury Calgary-area properties to sell through live auction!!

Luxury Calgary-area properties to sell through live auction

Two luxury properties in the Calgary area, listed with Sotheby’s International Realty Canada, will be sold through a unique live auction in early May.
Sotheby’s is partnering with Concierge Auctions, a New York-based global luxury real estate auction firm, for a live auction on May 8 at a private location in Calgary.
The auction will be the first luxury real estate auction of its kind in Calgary, and a method of sale that is becoming increasingly popular in luxury real estate markets around the globe. With the luxury sector booming in Calgary, it’s no surprise sellers are starting to adopt this sales and marketing tactic.
The two properties up for auction include an equestrian property in the Spruce Meadows area and a lakefront estate in Bearspaw, both listed exclusively with Mark Evernden of Sotheby’s International Realty Canada in Calgary.
Laura Brady, founder and president of Concierge Auctions, said a live auction is a growing service for clients who own very unique properties.
“Our focus at Concierge Auctions is only on high-end, premier, one-of-a-kind properties,” said Brady. “So if you think about these types of assets there is a smaller group of buyers that’s interested in these properties . . . and there is also a very difficult challenge of pricing these properties for sale. So properties that are unique can’t be compared just to others that are down the street or next door.
“Our process actually places transparency on the transaction by allowing bidders to bid in real time . . . Buyers can feel confident that the price that they’re paying is a fair price on that day because the high bidder only pays one bid above the next highest bidder . . . The seller also gets that confidence in value but the seller as well obtains a sale within their timeline.”
Evernden said Sotheby’s is trying to offer an additional service to the residential real estate market.
“We’re just trying to change the landscape, or I am, to a certain degree of real estate . . . and how it’s operating in the Calgary market. Adding more value to our customers and the consumers through different media services,” he said.
“This is the first to Calgary to be running an auction on a real estate property.”
Blue Valley Farms is a 45-acre equestrian training compound located at 242243 64th St. West, 25 minutes from downtown Calgary and a few minutes from internationally-renowned Spruce Meadows. Property features include a 6,428-square-foot indoor riding arena, a 30,000-square-foot outdoor arena, 25 horse stalls, five large fields with shelters and 12 outdoor paddocks. There’s an eight-car garage and workshop and a four-bedroom bungalow is available for an on-site manager. Originally offered for $4.6 million, Blue Valley Farms will sell to the highest bidder without reserve.
The second property to be auctioned is a lakefront residence in Church Ranches Estates, 20 minutes from downtown Calgary. Located at 70 Timber Ridge Way, the 2.27-acre property features a 9,000-square-foot home with four bedrooms, four full bathrooms, imported finishes, and a 3,000-square-foot solarium with a heated pool, hot tub, tropical gardens, and direct access to the lake. Owners enjoy access to 85 acres of park and nature trails, three large lakes stocked with fish, and sandy beaches for swimming and canoeing. Originally offered for $3.99 million, the highest bidder at or above $2 million will be named the new owner.
“We’ve seen growing demand for high-end Calgary real estate from local and international buyers over the past year, and marketing these properties demands innovative solutions,” said Evernden.
Between now and May 7, Blue Valley Farms will be open for preview daily from 9 a.m. to 12 p.m., and 70 Timber Ridge Way will be open for preview daily from 1 p.m. to 4 p.m. Both properties are also available for private showings by appointment. Call now if you are interested!! 403-283-7113. Click Here for more photos!
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By Mario Toneguzzi, Calgary Herald April 8, 2014

Just Listed in Mount Pleasant

624 20 AV NW – $549,900
Mount Pleasant has a property with potential! Handy man special; needs TLC. Over sized double garage with radiant heat. Separate studio with gas fireplace. Fir flooring – some original doors – updated kitchen with door to deck. Illegal suite down with shared laundry. Walk to downtown and enjoy easy access to transportation and many amenities such as Confederation park and community center. Click Here to view the virtual tour!
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Calgary housing market prices reach all-time record high.

March MLS sales set new standards as inventory remains low

A continued low inventory of listings combined with strong homebuyer demand pushed prices in Calgary’s resale housing market to all-time highs again in March.
Calgary Real Estate Board statistics released Tuesday indicated MLS records, for any month, were set for average sale prices and median prices in the overall city residential market as well as in the single-family category.
In the city, the overall average sale price in March was $484,918, up 5.18 per cent from last year, while the median price was rose by 6.90 per cent to $430,800. For the single-family market, the average sale price climbed by 7.32 per cent to $556,402 and the median price was up by 8.89 per cent to $490,000.
March registered 2,485 sales in the city which was the highest March total since 2007. Sales were up 17.94 per cent from last year.
“The amount of inventory is quite low in most communities within Calgary and demand remains high. Buyers are having to make extremely quick decisions as there is a high likelihood they will be in a multiple offer situation,” said Tanya Eklund, a realtor with RE/MAX Real Estate (Central). “Trying to find land to build on is one of the tightest markets right now due to the amount of new builders that have come into the inner city.
“Calgary real estate as a whole is not as tight as it was in 2006, however we are seeing homes in many areas of the city sell over list or close to list price. I do not have a crystal ball but I do suspect our market will remain strong into the second quarter of the year. My hope is the gap between supply and demand will become less. Having more supply, which statistically we do in the spring market, will give buyers more selection to choose from and not have to make same day decisions.”
The March record prices eclipsed the previous records set in February which were: $482,745 average sale and $424,900 median for the overall city; and $550,376 average sale and $480,000 median for single-family homes.
March was the 26 consecutive month of year-over-year average sale price growth and the 12th consecutive month of annual sales growth.
At the end of March, active listings in the city were down 19.35 per cent to 3,231 compared with last year. There were 3,319 new listings in the month, up 3.98 per cent from a year ago.
According to Mike Fotiou, associate broker with First Place Realty, the month also was a record one for luxury home sales with 79 properties selling for $1 million or more. That’s up from the previous record of 74 set last year and just four shy of the all-time monthly record of 83 which was established in May of last year.
Also, the first three months of this year set a record for most luxury sales in a first quarter of a year at 186, up from 171 for the same period last year.
“There seems to be a lot of positive buzz with Calgary’s economic state,” said Eklund. “With an unemployment rate of 4.8 per cent, under 1.5 per cent (rental) vacancy and record migration into the city, it appears that Calgary is a prime city to work and live. All of these factors contribute to our current strength in the Calgary real estate market and why sales are increasingly strong.
Single-family home sales rose by 14.87 per cent in March to 1,699 MLS transactions.
In the condo apartment category, sales of 445 were up 28.61 per cent from last year. The median price rose by 10.04 per cent to $285,000 while the average sale price was up by 3.22 per cent to $311,075.
In the condo townhouse sector, sales were up 20.92 per cent from last year to 341 units while the median price rose by 7.33 per cent to $323,000. However, the average sale price was down by 0.04 per cent to $355,617.
The towns surrounding Calgary saw sales spike by 35.71 per cent to 494 transactions. The median price increased by 9.19 per cent to $383,250 while the average sale price was up by 7.63 per cent to $392,572.
Jim Dewald, dean of the Haskayne School of Business at the University of Calgary, said so much of real estate is driven by the perception that the market is tightening or that prices are going up.
“There’s so much speculation always built into housing,” he said. “And there seems to be a feeling right now that inventories will only continue to tighten which will push prices up and now it’s more affordable than ever because mortgages are even going lower which is shocking to most people. I think there’s so much pressure because there’s a sense that prices are going to go up, get in there now.”
But Dewald cautioned that he is not seeing the foundational statistics in terms of employment growth that would sustain the “kind of anxiety that’s out there.” He also said inventories could change the market conditions.
“I don’t know if it’s wise to anticipate that prices will continue to go up because the supply side could change in the next few months,” said Dewald.

Average Price of single family homes in Calgary:

Screen shot 2014-04-03 at 12.33.55 PMBy Mario Toneguzzi, Calgary Herald April 1, 2014

CALGARY REGIONAL HOUSING MARKET STATISTICS: Conditions continue to favour the seller…

New listings remain below expectations in the single family sector…
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Click here or on the above photo to download a .pdf of the Calgary Regional Housing Market Statistics for March 2014
Residential sales activity improved across all sectors in March. However, declining new listings in the single family sector combined with further gains in sales activity decreased single family inventory to the lowest March level since 2006.
“There are several factors contributing to the growth in housing demand, including the inflow of people to our province over the past two years, strong gains in employment and tight rental conditions,” says CREB® chief economist Ann-Marie Lurie. “However, supply conditions vary amongst the different property segments, impacting the number of sales and price growth. If supply constraints persist in the single family sector, prices are expected to record further gains as we move into the spring market.”
Single family sales at the end of the first quarter totalled 3,901 units, a 9.5 per cent increase over the same period last year. Meanwhile, the amount of new listings declined by nearly five per cent. As sales growth outpaced the amount of new listings growth in the market, inventory levels dropped to just over 2,000 units.
Persistently tight market conditions prevented any relief in terms of price gains. The unadjusted single family benchmark price totalled $490,600 in March, a 9.9 per cent increase over the previous year and monthly increase of 1.6 per cent.
“With tight market conditions, particularly in the single family market, purchasers should ensure they have a clear understanding of what they can afford and what they are willing to pay for a home,” says Bill Kirk, CREB® president. “However, both sellers and buyers need to be aware that conditions are dependent on the community and price range that you are targeting.”
Condominium apartment sales totalled 1,062 after the first quarter. Sales growth was strongest in this sector due to the availability of listings. New listings after the first quarter totalled 1,722, an 18 per cent increase over the previous year. While demand continued to outpace listing growth, keeping market conditions relatively tight, inventory levels are similar to the previous year.
“Nearly 50 per cent of new listings in the apartment sector are priced in the range of $200,000 – $299,999, providing options for those looking for affordable product,” says Kirk. “However, there are far fewer options for those looking to spend less than $200,000. After the first quarter, apartment product priced below $200,000 has dropped from over 16 per cent of the market last year to 6.4 per cent.”
Condominium apartment and townhouse prices totalled a respective $287,200 and $313,100. Condominium apartment price recorded a year-over-year increase of 11.5 per cent and are the highest relative to the townhouse and single family sector. Despite strong price gains across all sectors, overall the condominium sector continues to record price levels below peak records.
“Some easing of the supply pressure in the condominium market is expected as new construction projects are completed,” says Lurie. “However, thanks to Calgary’s strong economy, it is expected that most new supply can be absorbed without risk of oversupply and condominium price correction.”
 
Click here to download a .pdf of the full report: Calgary Regional Housing Market Statistics for March 2014

Just Listed in Tuxedo!

This luxurious home is inner city living at its finest! Functional well thought out floor plan built by one of Calgary’s premier designer, R. Hayashi. Open concept main floor -the perfect home for entertaining. Gourmet kitchen featuring: custom cabinetry, quartz counters, Kitchen Aid & Meile appliances w/ 5 burner gas cook top & convection oven. Upgrades are numerous: marble/ hardwood/ granite/ porcelain flooring, Bio Fuel fireplace, Grohe & Krohler fixtures, extensive wiring upgrades(internet ports, HDMI for home theater etc), all carpet in home is upgraded, custom blinds for numerous windows which allow plenty of sunshine if so desired & elegant light fixtures, throughout. Master bdrm w/ 2 walk in closets (w/custom built in’s) & spacious ensuite (in-floor heating in all bathrooms as well as granite counter tops) & upper level laundry. Lower level w/ 4th bdrm & media rm for your home theater. Central location with easy access to Downtown, transportation, schools, shopping, restaurants & Stoney Trail!

$839,000

Virtual Tour: http://www.obeo.com/868588

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Just Listed in Ranchlands Estates!

Welcome to your opportunity to live in Hycroft Estates in the well established neighborhood of Ranchland Estates. This unit is in a superb location in this quiet complex backing onto the Ranchlands Natural Reserve. Just steps to the off leash area, biking & running paths. Special features of this 3 bedroom 2 1/2 bath town home include dbl garage, plenty of natural light, vaulted ceiling, mountain & city views,2 balconies & landscaped private brick patio. Numerous upgrades in this well maintained home: hardwood on the main floor & steps to the lower level, gas fireplace with remote, pot lighting in LR & kitchen, newer appliances & counter tops, stainless steel fridge, security doors on sliding glass doors to the patio and newer garage door & opener. This functional floor plan lends itself well to furniture arrangements & includes extra storage in the spacious master bedroom closet. The window seat overlooking the patio  offers a tranquil retreat to relax. A perfect life style choice-just move in!  Click here to view the virtual tour!

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$382,500

700 Ranch Estates Place Northwest

City ponders condo without cars…

There are those in Calgary who find it hard to imagine life without owning a car. But soon, the city could have a highrise full of people who wouldn’t have it any other way.
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City officials and the East Village development agency are studying a plan for a condo tower with no parking stalls for owners. If approved, a parcel of land in the revitalized community would be sold to the private developer.
City hall’s mantra for the past few years has been to create better offerings for people who want to walk, bike and take transit instead of drive. But even the most modern and urbanist new residential buildings in Calgary usually have at least one parking spot per unit.
“The developer thinks that the time has come, and that there is a market for this. If the developer is the one who takes the risk, then it’s worth exploring,” Coun. Druh Farrell said Tuesday.
“We often think of Calgary as being car-dependent, and that’s true to a certain extent,” the East Village’s councillor said. “But that’s not recognizing the reality of the communities close to the core.”
Urban sociologist Jyoti Gondek said the Beltline or East Village is an ideal spot for a tower marketed to young professionals or retirees who don’t need to own cars.
“I hate to use a cliché term, but a ‘complete community’ can offer you many of the things you need or at the very least offer you enough transit options to get you where you need to go,” said Gondek, who sits on the Calgary Planning Commission.
Condo ads for East Village have targeted young buyers who crave downtown culture, funky local restaurants, cycling and sidewalks buzzing with activity.
Susan Veres of Calgary Municipal Land Corp. – the city-owned East Village developer – said it hasn’t received a formal application for a no-parking tower yet. But the agency is doing “due diligence” before reaching a sales agreement with a developer.
Earlier this month, Veres spoke to the Herald Homes section about a 160-unit tower in the works next to the St. Louis hotel – barely a block away from the City Hall LRT platform. Mac Logan, Calgary’s general manager of transportation, noted on Twitter this week that he’d been asked to support a proposed East Village tower with zero parking for cars but lots for bicycles.
“Our data shows owners of $300k+ condo value (almost) all have cars but the city is evolving,” he wrote.
One real-estate agent who specializes in condos doubts the demand is large enough to warrant a full building, based on the clients he is worked with downtown. “If they’re couples, they might not each have a car but they would usually have one car,” Gord Piper said.
He cited University City, the multitower development at Brentwood LRT, which has more units than parking spaces. But many buyers there have been property investors who rent out the suites, Piper said.
Coun. Gian-Carlo Carra has long seen potential for no-parking condos in Calgary, because they could knock several thousand dollars off a condo price.
“One of the things that makes urban lifestyles cost-prohibitive is the extreme cost associated with underground parking stalls,” he said. The councillor said he is looking into an affordable housing project in his ward’s Inglewood district that doesn’t rely on public subsidy – it cuts development costs by not building parking spaces with the units. Kim Jones, a 35-year-old university student, lives car-free in a Willow Park townhouse. Her parking space is part of her mortgage but she can’t use it because of an eye condition.
She has noticed a change among her Calgary friends over the past five to 10 years.
“It was unthinkable not to have a car, and I was this weird outlier who didn’t drive,” Jones said. “And now it’s not at all. People are starting to make that choice.”
The car-sharing system Car2Go has been hugely popular in Calgary, serving people with no vehicle.
There is growing attention in the United States to the millennials – people born since 1982 – shifting away from driving, and how that will change cities and transportation planning.
The proportion of Americans in their late teens and early 20s with driver’s licences has dropped from 80 per cent in the late 1980s to 67 per cent by 2011, says a report from the U.S. Public Interest Research Group last year.
The same report states that miles driven per capita has been dropping steadily since 2004.

Jason Markusoff, Calgary Herald

Published: Wednesday, March 19, 2014

Just Listed in Mount Pleasant

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$560,000
Lovely well-built & maintained 4Br bung (2Br up, 2Br down), 1-1/2 bathrooms, detached garage, fully fenced & landscaped in the heart of family friendly Mount Pleasant community. Country-like living on a quiet street only one block from Confederation Park. Sunny southern exposure provides winter warmth & extended front yard use. Side entrance provides separate walkout to enclosed private patio area for summer dining & BBQ with nearby pond & water feature for enhanced intimacy & relaxation. Fruit trees, shrubs & raspberry hedges surround property in the back. Easily convert to suit a larger single family without compromising existing solid structure & foundation or landscape, gardens & privacy features. Additional backyard flagstone-type patio for relief from intense afternoon sun; perfect for tea & snoozing. Surrounded by privacy: trees, shrubs and perennials yet close to major transportation routes, coffee bars, restaurants, SAIT & a bike, walk, jog or bus ride to work downtown with ease year-round.

Just Listed in Tuscany

182 TUSCANY DRIVE NW

$439,900

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This property is in show home condition! Very well maintained complete with a fully finished basement, four bedrooms, over sized detached garage and freshly painted throughout. A bright and sunny home with an open concept kitchen, breakfast bar, hard wood flooring, vaulted ceilings, impressive gas fireplace, pantry and 1/2 bathroom. Exit the kitchen to your fully landscaped, fenced & private yard complete with a mature trees, spacious deck & gas BBQ outlet. Relax and entertain in your front bonus room. NEW carpet throughout upper level & master with ensuite, walk in closet upgraded “Levolor Cellular Shades”. Lower level includes the 4th bdrm, 3pc bthrm & flex room to be utilized as a media room, gym, hobby room or whatever suites your needs. Plenty of storage and new upgraded washer/dryer (worth approx $4k). With over 1900sqft of developed living spacs this is an outstanding opportunity in the sought after community of Tuscany not to be missed- this will sell quickly!
Check out the virtual tour: http://www.obeo.com/853851
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