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Calgary Herald
CALGARY RESALE HOME LISTINGS SURGE
New listings greatly outpaced resale demand in June as the city's improving housing market led more Calgarians to put their homes on the market.
Calgary Real Estate Board data show single-family home sales last month were 8 per cent higher than a year earlier, at 1,385 units, while new listings surged 24 per cent, to 2,168. Unsold homes across all segments reached 6,659 units, 11 per cent higher than a year ago. Year-to-date inventory remains about 9 per cent below the first half of 2016.
"The supply gain this month will be monitored. However, on a quarterly basis, inventory levels remain comparable to last year, sales have improved and there have been modest price gains. All of this remains consistent with expectations of a gradual recovery," CREB
chief economist Ann-Marie Lurie said in a release.
The median price for detached homes increased 5.2 per cent from a year ago, to $514,800. The benchmark price - used by CREB to measure sales of a typical home - gained 1.7 per cent, to $509,400.
Overall sales, including condo apartments and attached homes, rose 5.5 per cent, to 2,140 units.
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Calgary Sun
By: Myke Thomas
CITY LISTINGS UP IN JUNE
It appears more homeowners in Calgary are testing the market to see if the gradual increase in sales this year over last means they have a better chance of selling their homes.
The number of new listings coming onto the market in June was 3,755 homes, taking the end-of-month inventory to 6,659 homes, an 11 per cent increase from June 2016, says the Calgary Real Estate Board's (CREB) monthly report.
Even though demand did not keep up with the increased supply, the Calgary resale market continues to show improved supply-demand balance and price stability, says CREB chief economist Ann-Marie Lurie.
"The supply gain this month will be monitored. However, on a quarterly basis, inventory levels remain comparable to last year, sales have improved and there have been modest price gains. All of this remains consistent with expectations of a gradual recovery," says Lurie.
On a city-wide basis, the months of supply at the current sales level are 3.11, a number that is skewered by single-family inventory (2.33 months of supply) and apartments (6.55 months of supply) representing the lowest and highest by category, respectively.
Sales of single-family homes were up eight per cent from June 2016, while apartment sales fell eight per cent, year over year. On a year-over-year basis, sales of semi-detached homes increased four per cent, while sales of row/townhomes saw the highest year-over-year increase at 10 per cent.
Total residential sales year-to-date were 10,322 units, a 12 per cent increase from the end of June 2016.
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Below are some great links to some useful mortgage calculators.
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Calgary Sun
By: Myke Thomas
HOUSING AFFORDABILITY SHOULD BE AT TOP OF BANK'S MIND
Bank of Canada Governor Stephen Poloz raised the Bank's overnight rate to 0.75 per cent on July 12, a move that will increase the costs of mortgages, home equity lines of credit and other loans linked to the big bank prime rates.
It's the first increase in seven years and was made despite the core inflation rate being well below two per cent, the trigger point that usually signals a rate increase, says Dr. Sherry Cooper of Dominion Lending Centres in a statement.
"Indeed, inflation has hit its lowest level since 1999. The consumer price index, released in late June, rose only 1.3 per cent in May from a year ago, down from an annual pace of 1.6 per cent in April," says Cooper. "Both Governor Poloz and Senior Deputy Governor Wilkins have emphasized that the Bank must begin to hike rates pre-emptively due to the lagged effect of monetary tightening."
Speculation swirled for several weeks before the announcement, but a report last week sealed the deal, says Cooper.
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Calgary Sun
By: Myke Thomas
SUPPLY, DEMAND REACHING BALANCED LEVELS
The Canadian Real Estate Association (CREA) reports the number of homes sold through Canadian MLS systems fell by 6.2 per cent, primarily due to decreases in the Greater Toronto Area.
Conversely, Calgary and Edmonton were two of four major urban centres where May sales (the most recent figures available) surpassed year-ago levels.
CREA's report says, "The oil-dependent province continues to show evidence that it has left the worst of the oil downturn in its
rearview mirror.
Prices continue to hold steady (up 1.3 per cent year over year) at $412,382. Sales were up 9.1 per cent, with a total of 6,251 homes sold in May."
In conjunction with May's report, CREA updated its forecast for sales activity in the province.
"Alberta has firmed up compared to the low reached in early 2016 and the balance between supply and demand in the province has been tightening," says the CREA forecast.
"Alberta is forecast to have the largest increase in activity in 2017 (at) 10.2 per cent; however, this would still leave sales in the province below its 10-year average.
"Alberta's forecasted gain in sales is the only double-figure increase expected, with smaller gains in activity for Manitoba (+0.3 per cent), Quebec (+3.6 per cent) and New Brunswick (+1.9 per cent).
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CREB Now
 LOOK OF LUXURY
While many people have grand aspirations when it comes to the aesthetic of their home, not everyone has the money to pay for a beautifully designed luxury home or a series of expensive renovations. Thankfully, there are a number of quick and easy ways to achieve a luxurious look in any room without the luxury price tag.
Upgrade with tile
Installing a new tile backsplash in your kitchen or bathroom is a simple and relatively inexpensive way to achieve a beautiful, refined look. Classic subway tile is a cost-effective option that looks great in almost any room. With a slightly higher budget, you can even introduce two tile designs in different colours and sizes to create pleasing contrast.
Architectural details
Small architectural details can make a big difference when it comes to giving your room a luxurious feel. It can be as easy as adding an inexpensive ceiling medallion to the base of a light fixture to make it a focal point, or using narrow strips of moulding to create panelling on walls that will draw eyes to specific parts of the room.
Co-ordinate hardware finishes
The simple act of replacing mismatched accessories and finishes gives a polished and luxurious look to any bathroom or kitchen.
Update your walkway and entryway
The first thing visitors will see as they enter your home, simple changes to your home's walkway and entry can make a big different when it comes to curb appeal and exterior aesthetic. Try using a dark coloured door or accents, as well as complementary landscaping and potted plants to frame your entry, in order to make it a focal point.
Update fixtures
Dated or worn-out fixtures will immediately draw the attention of visitors to your home, and not in a good way. Replacing them with new, modern fixtures is an easy way to change the feel of an entire room and give it a more refined, luxurious look.
Invest in art
Adding art is one of the easiest ways to spruce up any room and give it a look of luxurious sophistication. Art also adds a personal, intentional touch to the home, and serves as a fantastic conversation starter. Using matching frames can make any art collection look professional and gallery worthy - find a cheap frame style that you like then buy in bulk to achieve this look.
Set the mood
Even if the contents of a room don't exactly exude luxury, mood lighting can create luxurious ambience. A combination of recessed lighting and strategically placed decorative floor lamps can highlight focal points throughout the room.
Make a statement
Statement pieces don't have to be expensive - just striking or eye-catching. Beloved possessions displayed in groupings are great conversation starters. A plush rug with a timeless pattern adds a feeling of warmth and luxury to any room, even if the rug isn't very expensive. Metallic accent pieces in bronze, gold or copper shades look expensive even when they're not, and fit with a number of common design styles.
Design with intention
in any room. A cohesive design style and palette, with purposeful decorations and accents, makes everything look like it's there for a reason. Every detail in the room should belong and complement everything else - nothing should be there simply because you had nowhere else to put it. This will set your room apart from others filled with hand-me-down, broken or worn-out design pieces and furnishings that clash and cheapen the overall look of the room.
Keep things clean and organized
This simple step makes a huge difference. No matter how much money you've spent on a particular room in the house, if it's messy and disorganized that's all visitors will see. Maintaining a clean and tidy room elevates its aesthetic and makes even the most basic design pieces look their best.
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Calgary Herald
By: Anna Junker
 Lonely beaver finds a buddy after chance encounter at rescue pen
A lonely rescued beaver has found its beaver best friend forever thanks to a chance pairing at the Alberta Institute for Wildlife Conservation.
The female beaver, identified as No. 16-946, came to the rehabilitation centre in June 2016 after she was found alone and injured with wounds to her tail at a Calgary-area golf course. It is believed she was injured by a predator. When she arrived, she was estimated to be about five weeks old.
Holly Duvall, executive director of the centre, said beavers are incredibly social animals, with baby beavers, or kits, staying for two to three years with their parents before leaving on their own. When beaver 16-946 was brought in, she was all by herself.
"Sometimes a sibling from a previous litter will also stay to help raise the kits," said Duvall.
"They're a very solid family unit. They really thrive on that connection with one another and it's an added safety too. There's safety in numbers."
Luckily for beaver 16-946, a young male beaver dubbed 17-536 was brought to the institute after he was found stuck in a northwest Calgary storm drain, suffering from deep bite wounds to his lower back.
Both beavers have recovered swimmingly and are now considered best friends, having connected almost instantly through the fence dividing their enclosures.
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Since Paul and I adopted our delightful little dog, Jeter, we have been taking lots of walks in communities where we work with our clients.
Paul has been mapping all these walks and we thought it would be fun to share them with you.
Walking is such a great way to get to know a new community or learn about the one you live in.
We have discovered beautiful trails we never knew existed - all thanks to a pup that loves to hike!
Check out our latest video of Jeter's walk in Rocky Ridge.
You might want to explore some of these areas with your two or four-footed family.
More "On the Go with Jeter Joe" videos and maps can be found on our website.
Check back often, as we will be adding more of Jeter's adventures on a regular basis. If you are interested in mapping your own family walk, we are more than happy to share the apps we have discovered.
We aren't spending all our time
just walking the Jeter - we had a very busy July and sales have been brisk.
August is looking to be a busy month as well.
If you are wondering if now is a good time to buy or sell - it sure is!
We would be very happy to sit down with you to discuss how we can help you achieve your real estate goals.
Call us anytime.
Best regards,
Kelly and Team
Kelly McKelvie
403-247-9988
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We hope you're enjoying Calgary's warmest summer ever by taking advantage of our many parks and pathways. Did you know that Calgary has over 1,000 kilometres of pathways, all encircled by the Rotary/Mattamy Greenway?
Check out the summer newsletter, filled with information on park projects and events that are helping to create vibrant communities and public spaces. Find out more about our #Greenway150 Family Shindig taking place Saturday, September 2nd from 12-3pm. They are looking for volunteers for this event - if you can help, please email
[email protected].
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The Calgary Sun
By: Myke Thomas
SALES PICK UP IN CALGARY'S BEDROOM COMMUNITIES
Sales on MLS Systems in three of Calgary's bedroom communities in the first half of 2017, as measured by the Calgary Real Estate Board (CREB), were on par or increased from the same time last year. Here is CREB's take on activity in Airdrie, Cochrane and Okotoks.
Airdrie
- Airdrie residential sales reached 703 units in the first half of the year, similar to levels recorded last year.
- Year-to-date new listings also remained at similar levels to last year, at 1,352 units, a one percent year-over-year increase.
- Total inventories in Airdrie averaged 430 units for the first half of 2017, keeping months of supply comparable to last year. With some modest improvements in demand compared to supply levels, prices have been generally trending up this year, but it is not enough to compensate for previous declines.
- The detached benchmark price has averaged $376,833 since January. This is just 1.5 per cent lower than the same period in 2016.
Cochrane
- Residential sales and listings in Cochrane increased during the first half of 2017 by 13.5 per cent and 4.3 per cent, respectively, compared to the same period last year. Of the 353 residential units sold so far this year, 220 have been detached and 110 have been attached.
- Improving sales combined with slower listing growth has prevented significant gains in inventory and months of supply have eased compared to last year. Overall, this has supported general price stabilization.
- Year-to-date detached benchmark prices averaged $422,350, similar to levels recorded last year.
Okotoks
- Total residential sales in Okotoks totalled 306 units during the first six months of 2017. This is a three per cent year-over-year increase and is an improvement compared to activity over the past two years. However, activity still sits below long-term averages.
- Year-to-date new listings remained below 2016 levels by 7.3 per cent, totalling 546 units.
- Inventories averaged 21 per cent below 2016 levels for the first six months of the year, and now remain close to the 10-year average.
- As the market trends toward more balanced conditions, second-quarter detached prices have increased by one per cent compared to the first quarter. Despite the gain, the year-to-date price has averaged $431,700, which is 1.2 per cent below last year.
*CREB's analysis only considers surrounding areas with enough activity to generate the MLS Home Price Index. CREB resale data only includes activity occurring within its membership.
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CREB
HOUSING RECOVERY REMAINS A WORK-IN-PROGRESS
Market sees modest inventory gains, but overall prices inch up
City of Calgary, August 1, 2017 - Sales exhibited stable growth through the first half of the year in the Calgary housing market, but the number of transactions slowed slightly in July compared to last year. City-wide sales totaled 1,637 units, six per cent below July 2016 levels. Year-todate sales activity totaled 11,957 units, nine per cent above last year. "Sales growth exceeded expectations so far this year. Clients were re-entering the market after delaying decisions until there were some signs of economic improvement," said CREB® president David P. Brown. "However, this recovery will require patience. There continues to be many new and resale ownership options available. This reduces the sense of the urgency for many consumers." Easing sales were met with higher new listings, causing further gains in inventory levels. City-wide months of supply rose to four months, as inventory levels reached 6,675 units this month. This is 17 per cent higher than last year, but still below July highs recorded in 2008. "Modest improvements in the labour market and net migration were necessary to support the turnaround in the housing market," said CREB® chief economist AnnMarie Lurie. "However, current inventory levels and changes in the lending market continue to weigh on housing demand. Easing demand growth combined with elevated levels of supply will slow the pace of price recovery in our market." Driven by detached and attached housing sales, city-wide prices in July improved over the previous month and the previous year. However, it is nearly four per cent below previous monthly highs. Year-to-date benchmark averages remain 0.44 per cent below last year's levels. Despite the current month activity, the detached sector continues to demonstrate conditions that are more balanced compared to last year. Apartment condominium product continues to face oversupply in the resale and new home sector, causing further price declines. In July, the apartment benchmark price was $266,200. This is a three per cent decline over last year and nearly 12 per cent below peak prices.
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The team at the McKelvie Group is comprised of a group of professionals who provide you with the support, follow-through and assistance you deserve when it comes to your important investment.
Each team member is exceptionally trained and an expert in his/her respective field. You can expect exceptional professionalism when working with the McKelvie Group.
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Western heritage is a part of everyday life for residents of Calgary-area ranching communities
While the Calgary Stampede offers Calgarians a mere 10 days each year to indulge in Alberta's ranching and cowboy heritage, that heritage is celebrated every day by residents of communities surrounding the city, including Cochrane, Longview and Turner Valley.
"Cochrane is here because of ranching," said Cochrane town councillor Tara McFadden. Cochrane is named after the man who, in 1881, started the Cochrane Ranche - Alberta's first large-scale livestock operation and a site that remains one of Cochrane's prime attractions.
"Cochrane's ranching history is very important to the Town of Cochrane today. We actively take great pride in keeping it as part of Cochrane's attraction," said McFadden, noting, for example, that the town requires any new building erected within its boundaries to reflect a Western heritage design.
Beyond the built community, however, McFadden says it's the residents who ultimately define Cochrane.
"People in Cochrane reflect the rancher ethos. Like ranchers, the people of Cochrane have vision and work hard."
Those from the surrounding areas who still rely on livestock for their livelihoods make their way into Cochrane regularly, McFadden adds. Furthermore, the community hosts events like the annual Cochrane Labour Day Parade and Rodeo. Both continue to make Cochrane's ranching roots a very real part of the Cochrane of today.
READ THE ARTICLE
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Springbank offers tranquil lifestyle and stunning views on Calgary's western outskirts
As the summer sun rises in the bold, blue Alberta sky, Lisa Neiles revels in the quiet, as she sips her coffee on the deck of her home on Calgary's western perimeter in Springbank Hill. She says that the peacefulness, along with the easy access to the city, attracted her and her husband to the area.
"I love how we can sit on our deck and hear nothing but the birds chirping," said Neiles. "It is rare you can live in the city and drive down a country road with a view of the meadows with horses and mountain range, turn a corner and drive into your neighbourhood of approximately 40 homes. It's the best of both worlds."
Although Neiles's home technically sits within Calgary's city limits, a two-minute ride down the road leads to the rural community of Springbank in Rocky View County. Known for its sweeping mountain vistas and wide-open rolling lands peppered with country residential acreages and estate homes, Springbank's borders are being slowly absorbed into Calgary proper - Springbank Hill, Aspen Woods, West Springs, Cougar Ridge, Crestmont and Valley Ridge have all been annexed.
For the most part, rural Springbank's development has occurred organically. But recently, new planned communities are popping up, including the master-planned golf-and-lake community of Harmony. Located adjacent to the Springbank Airport, Harmony at final build out will be home to almost 10,000 residents.
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A novel place to plant your savings
Given the fickle Canadian climate, farming for a living is often viewed as a risky proposition. Buying farmland, however, is attracting some interest from Calgary investors seeking a hedge against inflation that will also produce goods and generate income.
The two most common ways to make money from farmland are capital appreciation - when the land increases in value - and income. That income can be from cash rent, calculated by dollars per cultivated acre, or a crop share, where the investor receives a share of the total crop sales each year, usually about 20-30 per cent.
"Farmland has been a tremendous investment over the last 10 years," said J.P. Gervais, chief agricultural economist for Farm Credit Canada. "Not only have land values been rising, but returns from farming have been very strong, with farm cash receipts increasing on a national level by an average of $2 billion a year for the past decade."
Adding to its appeal, farmland tends to be a fairly stable asset compared to other options like the stock market, residential real estate and oil.
At the same time, Gervais cautions buyers to have realistic expectations about the next 10 years, projecting good returns, but not the significant gains in farmland value that we've seen recently.
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Evaluation Request Thinking of Buying Client Testimonials
Click on the images above to go to valuable links on our website.
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HUFF POST
BY: Suzy Strutner
Harry Potter's Real-Life House From The Movie Is Up For Sale
This inside looks magical, to say the least.
If you can't move to
Hogwarts, consider this enchanting alternative.
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TOUR AMAZING HOMES ACROSS THE GLOBE
From oceanfront mansions to historic estates to homes with unbelievable amenities, take a peek at some of the world's most incredible houses.
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Sincerely,
