Calgary listed as one of the more affordable housing markets in Canada
Great headline for sure. 1 RBC report has 2 articles written about it below.
1.
Calgary listed as one of the more affordable housing markets in Canada
RBC report says city market experiencing a ‘renaissance’
CALGARY — Calgary experienced a housing market renaissance in 2012, reaping the benefits of strong provincial GDP and in-migration, which propelled home resales in the area, says a report released Monday by RBC Economics Research.
Calgary and area average house prices jump 108% over 10 years $412,315 in 2012: RE/MAX report
CALGARY — Calgary’s residential housing market is poised for expansion in 2013, with move-up buyers set to lead the charge, says a report released Thursday by RE/MAX.
The report said the 10-year appreciation in average house prices for residential properties in the city and area was 108 per cent going from $198,350 in 2002 to $412,315 last year.
Inspection needed even when buying new condo
Many people do not get inspections for new condos but since it is one of the most expensive things you can buy, it is worth it. Read below for more info.
Many buyers think it’s unnecessary to hire a building inspector before purchasing a new condo. Prospective owners often assume a condo building and their unit of interest is fine and everything is to code and working properly. While this is usually the case, purchasers still need to protect themselves against those rare occasions where a problem exists.
the B20 !!
There will be lots more on THE B20 – as it is the #1 issue with getting real estate deals approved right now.
To start with, that the B20 is:
- Needs multiple financing condition extensions
- Pre-approvals collapse at the bank and with on-line or inexperienced brokers
- Seemingly strong purchasers outright and irreversibly declined
- Losing out in multiple-offer situations
- Approvals taking forever
SUMMARY
The reason you are having a tough time removing financing conditions (COF) for your deals is called “the B20” and the details are attached. Have a read to find out why. Better yet, feel comfortable suggesting your clients use 1 of Canada’s Top-10, full-time, professional, fully-independent, mortgage brokers with a Master’s Degree in Finance, who knows what these rules mean and how to get your deals done. On time.
Housing in Calgary still going strong!
Multi-time buyers will be the biggest force in the market
The predicted slump in Canada’s housing market has failed to materialize. Apart from two areas of acute weakness – Toronto’s condo market and Vancouver in general – there has been an orderly retreat.
Alberta: 23,300 jobs were created, unemployment rate 2nd lowest in Canada
Canadians continue to move to Alberta for jobs and our hot economy. This is what caused the housing boom in 2007 and is expected to continue to support home prices here. With only 2000 listings for homes for sale prices are actually rising here – the opposite of Vancouver and Toronto.
Momentum continues in Calgary luxury home market
MLS sales in January just shy of all-time record for the month
CALGARY — Calgary’s housing market experienced a record year for luxury home sales in 2012 and the pace of transactions in January 2013 suggests the market is not slowing down.
According to the Calgary Real Estate Board, there were 34 MLS sales in Calgary of properties over $1 million in January — just shy of the January record of 36 luxury sales in 2007.
Good Economic News for Canada
Good ews in Canada easily goes unnoticed. Below is some good stuff:
• Canadian 10-year bond yields touch 2.00%, marking an 8-month high. = MORTGAGE RATES will have pressure to creep up! This is one of the indicators I watch.
Prospective homebuyers in Alberta confident in the market
22% are first-time purchasers in the next two years
CALGARY — A national survey of prospective homebuyers, who intend to buy within the next 24 months, indicates nearly one-in-five in Alberta are single people.
The RE/MAX Canadian Homebuying Trends Survey 2013-2014, released on Tuesday, said 42 per cent are couples and 38 per cent are families.
Calgary house prices forecast to increase 2.5% this year!
Calgary house prices forecast to increase 2.5% this year: Royal LePage
Most of Canada expecting price appreciation to flatten
CALGARY — By the end of 2013, average house prices in Calgary are expected to increase 2.5 per cent, while most of Canada is expecting price appreciation to flatten, according to the Royal LePage House Price Survey and Markey Survey Forecast released Tuesday.