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spring-thawAccording to figures released by CREB® (Calgary Real Estate Board), Calgary home prices remained stable, recording a moderate growth in average price.  While the City of Calgary, year-to-date sales volume declined by 6 per cent compared to the first four months of 2010; the decline was offset by the 14 per cent decline in listings over the same period, resulting in lower inventory levels, and a more balanced spring market. This is a full description of the April 2011 Statistics.

Single family home sales in the first quarter of 2011 showed a 4 per cent increase over 2010.  Average single family home prices remained stable compared to the first quarter of last year, as people continue to purchase more homes at the lower end of the price spectrum.  The rise in sales has been offset by a corresponding increase in listings, resulting in stable average prices.

Improved affordability levels in single family homes have offered some individuals the opportunity to purchase homes in areas of the city that were once unattainable.  The combination of stable home prices, low interest rates and year-over-year improvements in employment are the primary factors fueling the growth in Calgary’s Real Estate market.  View the full report on Creb.com

The US Real Estate Market could witness the greatest transfer of wealth in our lifetime. Given this possibility we thought we should investigate further, so we toured Scottsdale Arizona to review a real estate fund intending to invest in Arizona residential real estate. The plan is to purchase single-family properties using (proprietary) best  practices and inventory them in a rental pool until the market recovers. An action packed trip on a whirlwind schedule hosted by Steve McKenzie of TJ Capital provided a group of investors and experts an overview of the American Residential Income Fund. It was a very informative and thought provoking excursion, that provided valuable insights into the foreclosure and non judicial sales market in the US. If you are interested in US real estate, contact us to discuss what we’ve learned and how you can benefit from this enormeous shift in wealth.

realtorThis is a must have for anyone interested in staying aprised of the real estate market. Anyone with an iphone now has real time access to local listing information of any home listed on the Realtor.ca website. The application uses your smart phone’s GPS to determine your location and queries Realtor.ca for listings within the vicinity. The listings will display in either a list, map or aerial view and you have the option to define filters which will allow you to set minimum search criteria including the ability to view open houses or only new listings since a set date. You can also search by MLS# or by property location (city only). You can also find a Realtor by using the search Realtor function. The best feature is that you can set “your agent” in the program so that your agent is saved as the default contact. If you discover or are driving past a property that interests you, rather than having to speak to a stranger, contacting your favorite agent is only one click away. Check out the new Realtor.ca mobile app  for the iPhone at itunes app store

The opinions expressed in this blog are the personal opinions of Sano Stante and do not reflect the opinions of any other organization or affiliation.

Last year we hiked the Ancient Inca Trail to Vilcabamba and ultimately visited Machu Pichu, the ancient  capital of the Incas. We discovered that hiking over the six days at 4,000 meters altitude offered challenges that only the ancient tradition of chewing coca provided relief from, as well as strength to endure the climb. Continue reading ..

Sacred Traditions don’t often come to the table for debate. Once in awhile they do, and with proper information and clarity of mind you are able to progress past entrenched traditions and practice good governance. Last week Calgary Real Estate Board (CREB) directors made such a decision for their members. Continue reading ..

Home sales in the city of Calgary were down month-over-month in October 2010, showing signs that buyers still remain cautious, despite signs of economic recovery.  Year-over-year sales also continued to trend lower in the month of October, according to figures released today by the Calgary Real Estate Board.

Buyers remain cautious and the market overall appears  to remain subdued, especially in condo sales where the inventory levels are relatively high have more potential to remain high. On the bright side, we are seeing a gradual reduction is new listings which is expected seasonally and this will help to regain more balance in the market. Overall the average price has been buoyed by sales in the in the million dollars plus category. Despite a slowdown in certain market segments, homes sold in the city of Calgary at a million dollars or more have actually seen an increase of more than 15 per cent when compared to the same time one year ago. For the full report see creb.com.

After a gradual climb back up, the Calgary real estate market is poised to wipe out any gains  made earlier in the year. According to figures released today by the (CREB®) Calgary Real Estate Board, sales in the city of Calgary continued to trend lower in August down 32% for single family homes from a year ago, and condominium sales decreased 42% from the same time a year ago. The increases from earlier this year seemed to be caused by an over exuberance in the market that appeared to me to be somewhat irrational. Except for Buyers rushing to get into the market ahead of new mortgage regulations and anticipation of interest rate increases, there was no good rationale for the market to react with the exaggerated exuberance that we witnessed early in this year. This reality seems to have caught up with us and we now appear to be erasing most of those gains. You can read the full August 2010 report on on the Calgary Real Estate Market here.

While folks are out sizzling steaks in the backyard this summer, that sizzle appears to be absent thissummer from the Calgary real estate market. The Calgary Real Estate Board released their July statistics which showed the number of single family sales in July 2010 down 45% from the same time last year, while condominium sales experienced a decrease of 44% from July 2009. With the number of new listings declining in July, we may expect a greater balance to the market in the fall months when we expect sales to perk up in typical, seasonal fashion. With excellent affordability, historically low interest rates and a broad selection of inventory the present market offers the perfect climate for first time and move up buyers to move into the market.  For information on how you can take advantage of the present market contact me  . View the full statistics package at CREB.com

Luxury HomesWaking up from a winters hibernation, sales of upper end homes appear brisk in the wake of an overall market slow down. Favorable mortgage rates and incentives coupled with affordable price fuelled the Calgary real estate market early this year. But after favorable mortgage incentives expired, the resultant buyers rush dried up and the listings that were flying off the shelf have been piling up over the past months. Recently the inventory count has been rising in favor of a buyers market.

Those earlier incentives caused  traffic for first time buyers’  in the low to mid range of the market. The recent activity in the upper market could be attributed to the subsequent move up market (those that sold their mid-entry level homes now moving up) and the further  implication that the upper market buyer is less affected by the downturn in the economy. As prices in the upper market continued to adjust downward, there reached a point this spring where this pent-up demand moved into the market absorbing this well priced product in the upper range. The point is that there is an overall abundace of inventory in the market and it’s continuing to grow across all price sectors. The homes recently absorbed in the upper end of the market were the best remaining after a marathon of price reductions over the past year. The opportunity for Sellers continues to exist across all price sectors provided homes are priced accordingly and marketed with aggresive exposure. For Buyers the combination of still low interest rates combined with moderate prices makes the climate right for jumping in now before interest rates and homes prices increase. For more information, see the Calgary Real Estate Board news release and statistics for July 2, 2010