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We Work Hard to Keep You Informed:
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The Canmore Real Estate marketplace continues to hum with activity. The tourism sector is very strong, which is introducing many international and Canadian travellers to the breathtaking beauty of Canmore and Banff in the heart of the Canadian Rockies. The low Canadian dollar is promoting tourism as well as real estate interest in the Bow Valley.
Our real estate offerings include Conventional Condos, Bareland Condos, Fractional Ownership Vacation Condos, Visitor Accommodation Revenue Suites, Tourist Home Condos that allow both full-time living as well as monthly or nightly rentals, Duplexes, Townhomes, newly released single-family Building Lots, Re-development lots allowing four-plex development, Apartments used as Employee Accommodation, Perpetually Affordable Housing, Condos with mortgage subsidy, Co-op Housing, Single Family Homes and manufactured homes. Inventory is relatively low in Canmore and Banff, which has resulted in a fairly level marketplace despite some economic concerns in the rest of Alberta. Canmore and Banff are special places, with amazing mountain opportunities.
Canmore is truly an interesting place to consider establishing a home, either full-time or as a weekend get-away. Our team of two experienced Realtors is proud to offer knowledgeable service, with a focus on client satisfaction.
If you are a previous Buyer who is considering selling, please contact us for a free property valuation and consultation on current market conditions.
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Jim and Jordy's Hot Picks for the Month
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Check out this spacious single family home with detached double garage on a paved lane, private back yard with very nice landscaping, additional parking and excellent views from this sunny location.
View Listing
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Recently updated, this ½ duplex bareland condo is in a very quiet and secluded location. Double garage! Ready to move into and enjoy.
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Affordable three bedroom condo with great views, in floor heat, and nice interior finishing. Ask us about the interest free loan that helps with your down payment, and the monthly cash mortgage subsidy! This would be a great investment condo, second home, or for owner to live in to have reasonable living expenses in the Bow Valley.
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205/207-160 KANANASKIS WAY
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Fully furnished Canmore vacation condo, at an amazing price!
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We can represent Buyers on Private Purchases, extending opportunities to you, our Buyers.
Should you wish any further info on these Hot Picks, please call, text or email and we’ll be happy to send additional info. Please note this data is current as of printing and is subject to changes.
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Several folks have contacted us wondering what the best “Deals” in Town might be. With respect to foreclosures, banks often will not accept a condition regarding financing therefore Buyers need to bring cash to the table for the purchase, then arrange a mortgage AFTER the purchase. Our experience has been that Lending Institutions that manage foreclosures often lend money to themselves at very low rates and thus they are not overly-motivated to sell at a discount. So-called “deals” may not be easy to acquire but let us help you see what is possible with foreclosures.
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Canmore Market Report August 2016
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Strong Market Activity Continues through Second Quarter of 2016!
The summer is here and the Bow Valley is very busy with many tourists from close by as well as the United States and abroad. Speaking with many of the local hotels, restaurants and retailers this year is looking phenomenal!
Canmore once again had a fantastic day for Canada Day including the parade, fireworks and many other events. This has only started off a busy summer with many more events including the 24 hours of adrenalin, folk festival and highland games.
The Real Estate market has been quite strong and we seem to have stayed close to a balanced market this year. Our listing inventory has trended upwards as per usual through the first half of the year and number of sales are seeing a steady increase in listings month to month since the beginning of the year.
The first half of 2016 has seen the number of sales being the 3rd highest since 2010, just 7% lower than the highest and 69% higher than the slowest first half of a year in the same time frame. We are seeing some prices pushing up slightly, while the majority of the market seems to be quite steady with buyers still aware of the surrounding Alberta markets that are not doing as well. In the past couple weeks we have seen a few multiple offers with one property selling close to 3% over asking price. The average list to sale percentage for the last 6 months has been close to 97% which is close to one percentage point more than the average in 2015.
Buyers are continuing to be very active in finding the right property for them, but also very aware of market value so many will wait for the right property at the right price.
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Value of Ownership
~ by TeamCanmoreRealEstate partner Jim Ridley
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We are Home Investment Advisors and are able to provide analysis that clients might need to assess rent revenues, costs and returns, for both residential and vacation properties, including full and fractional ownership units. For vacation properties, we are able to provide detailed information on vacation condos, including options for in-house management, self-management and personal use. We’ve learned many things though along our path of Real Estate Guidance. We also have a group of professionals that we can refer our Clients to, when they need specific tax, zoning, residency, accounting, legal, property inspection, condominium document review and property management advice.
More important, we can help Buyers identify whether Canmore is the right fit for them, their families and their investment dollars. There’s a lot of cool things about Canmore from it’s friendly, small-town nature to its incredible recreational facilities, both indoor at our new $41m Elevation Place complex or the amazing trail network, peaks, rives and lakes throughout the area. How many places in Canada boast both a summer biking mecca and Winter Olympic venue for cross-country skiing? www.canmorenordiccentre.ca
Then there’s the Banff Centre with Inspiring Music, Drama, and Film. Consider Canmore as a place to invest, visit, work, live and play.
We feel that in addition to investment opportunities, Canmore has inherent values of ownership. Value has so many meanings……
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Tip: It can’t be all business, all the time. To avoid burning-out, it’s important to manage your working hours and to take care of yourself.
Watch the full video of our #RBCSmallBiz panel “Starting a Business," to hear other great tips from business owners and industry experts:
bit.ly/25SbYg1
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5 Problems Uncovered in Home Inspections
Even a house that seems perfect may not be so when it comes to a home inspection, which is meant to discover potential problems with the home's systems, appliances, and structure.
"Depending on the age, location, and type of house, the potential for problems will vary," according to an article by the Ferris Property Group. "It's also important to note that all houses — even brand new ones — will have issues show up on the inspection. Certain issues may be a deal breaker, like a collapsing foundation, but many other issues can and should be repaired after negotiation with the seller."
Here are some of the most common problems inspectors say they uncover:
- Defective plumbing: Leaky faucets or problems with the efficiency of pipes can greatly affect the cost of a home's utilities.
- Water damage: This can be caused by any number of issues, such as erosion of external grading material that has caused a slow leak into a basement. Water leaks also can lead to damage in a foundation or mold growth.
- Faulty roofing materials: Variable temperatures can cause cracks in some roofing materials, while other materials may be prone to rots or leaks.
- Cracked foundation: Foundation problems can surface from any number of issues, such as water damage, termites, rotting, or structural inadequacy.
- Over-worked electricity system: This also can represent a big safety issue. Inspectors say when they find an overcrowded wiring system it’s typically due to previous owners making adjustments to the electrical wiring.
Source: “Common Issues Found During the Home Inspection,” Ferris Property Group (May 11, 2016)
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Here’s a scenario that likely happens to you every once in a while. You’re at work, at a house party, or just walking through the neighborhood when someone asks, “Do you happen to know a good…?” You can fill the blanks. A good Dentist; A good Landscaper; A good Accountant.
How do you respond?
You probably want to help, so you provide the names of one or two professionals in that industry that you know or with whom you have worked. You understand how difficult it can be to find a solid, reputable professional, so you’re happy to give the gift of a referral.
Why are we bringing this up?
Well, the next time you’re asked to recommend a good Real Estate Agent, we hope you’ll feel comfortable giving that person our names. As you may know, we build our business on referrals from Clients like you. That’s why taking care of our valued Clients ~ before, during and after the transaction ~ is so important to us.
So if you get a chance to do someone a favour and give them our names, you’ll have our appreciation ~ and our thanks!
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Private Client Services Value Proposition
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Sign up for automatic real estate listing updates in Canmore, Banff, Exshaw, Harvie Heights and Lac des Arcs, with your custom search parameters. No more searching endlessly online for incomplete information on listings. This service provides detailed feature sheets with a link to photos. You can unsubscribe at any time.
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Jim Ridley & Jordy Shepherd
Associates
403.493.4663
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