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CALGARY SUN
CALGARY NOW MOST AFFORDABLE MAJOR CITY
Calgary's MLS resale homes market unfolded in the first quarter of 2017 pretty much the way Phil Soper, CEO and president of Royal LePage Canada, thought it would.
"We called the bottom of the real estate correction last year," says Soper, a born and raised Calgarian.
"We said the bottom was likely the fourth quarter of 2016 and the early indications are that's how things are unfolding.
"Our forecast for Calgary is for prices to appreciate by two and a half per cent and it's almost exactly on that in the first few months of the year*. It doesn't sound like much. but man, it's a lot better than being down 10 per cent."
The inventory level is well below last year.
"Believe it or not, there isn't enough inventory in Calgary right now to satisfy the demand," says Soper.
"But there isn't enough confidence to start prices rising any higher than they are.
"We need to have people feel that the provincial economy and the greater Calgary economy have found equilibrium and are growing again, and to have the confidence to embark on a large purchase like a home. And once that happens, the fundamentals are strong.
"We're not looking at a 2013-style expansion in the Calgary market, but we do think it will be one of the healthier regions in the country.
"We're seeing the same thing in Saskatchewan, so it's a good-news story although, if you step back, the size of the industry (is) still down about 20 per cent from 2013."
That, however, is a recovery from the 40 per cent of the market that disappeared at the onset of plummeting oil prices, says Soper.
"So we've gained about half of that back and prices are starting to rise again," he says.
"So the good news is Calgary is now our most affordable major city in the nation and still has the youngest population of the major cities in the nation and has the ability for the unemployment rate to bounce back faster than almost anywhere in Canada.
"It's one of those resilient boom and bust corners of the world. I know that. I grew up there."
* Note: The market-wide average price increased 3.05 per cent in the first quarter of 2017 over last year. Source: Calgary Real Estate Board.
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CREB NEWS
UPWARD TREND FOR ALBERTA'S ECONOMY
Province showing strongest growth in Canada this year
Several economic forecasts point in the same direction: Alberta has turned the corner.
Even though they remain in contrast to previous years when the Alberta economy expanded by four to five per cent annually, there is still a sense of optimism in the province.
Recent surveys by ATB Financial, who predicts a 2.2 per cent provincial growth this year, indicated owners and operators of Alberta enterprises are feeling more optimistic about the economy, and their business future these days.
"It's definitely more upbeat. As I travel around the province and talk to industry associations and individual business operators, they're almost consistently saying the worst is behind us, and we're starting to see some modest improvement," said Todd Hirsch, chief economist with ATB Financial.
Hirsch points to the stabilization of the petroleum industry as the biggest factor in the recovery of the economy.
"The downturn we saw in 2015 and 2016 was due entirely to the drop in oil price, the big pullback we saw in oil and gas investment, and everything else," said Hirsch. "Now in 2017, we've seen the petroleum industry stabilize. That alone would give us zero growth or maybe very modest growth, but layered on top of that are other sectors that are doing well: the tourism sector, the agriculture sector, and the agri-foods sector."
In his Provincial Outlook report, Robert Hogue, senior economist with RBC, says Alberta is seeing light at the end of a long and dark tunnel.
"We expect the economic turnaround to be gradual and uneven, which would be a departure from Alberta's typical 'boom-bust' pattern exhibited in past economic cycles," said Hogue.
He projects positive growth to return in 2017 at a rate of 2.1 per cent, reflecting an expected increase in energy-sector spending in the province. Such a rate of growth, he notes, would only partially reverse the cumulative 6.5 per cent contraction that occurred in the previous two years.
"We expect the recovery to continue and, in fact, accelerate in 2018," he said.
The Conference Board of Canada also predicts growth for Alberta at a rate of 2.8 per cent, and says the province is poised to have the strongest economic growth in 2017, due to fast-rising oil production.
"Following two tough years stemming from widespread weakness in the energy sector, Alberta's economy finds itself with the strongest economic growth this year," said Marie-Christine Bernard, associate director, Provincial Forecast at The Conference Board of Canada. "Along with a big increase in oil production, some of the growth in Alberta will come from the rebuilding efforts in Fort McMurray."
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 CREB NOW
Finding the right renovation company is much easier when you know what to how to research
Renovations can turn an almost-perfect home into a dream home, or can boost the value of a home for sale, making it stand out from the competition.
But how do you find the right renovation company or contractor for the job?
Leah Brownridge, media and corporate communications specialist with the Better Business Bureau for Southern Alberta and East Kootenay, says renovation companies often make the BBB's Top 10 list of most complained about businesses.
"It's essential for home owners to really do their homework and research beforehand," said Brownridge.
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CREB NEWS
ENERGY IS MONEY
New energy savings programs set to save Albertans money
Saving money and energy in your home has just gotten a whole lot easier.
The province has announced details of energy savings programs aimed directly at all Alberta residents, whether they are homeowners, renters, or businesses.
Alberta may be the last North American jurisdiction to join the energy efficiency program bandwagon, but David Dodge, the first chair of Energy Efficiency Alberta (EEA), the government agency in charge of designing and running the programs, says things will move quickly to catch up.
"These programs are designed to make Albertans more resilient and save them money."
The most immediate impact will come through the $21 million Residential No-Charge Energy Savings Program, providing apartment, condo or single-family home dwellers with a free evaluation of potential efficiency upgrades.
At the same time, the service person can install energy efficient products, including LED nightlights, faucet aerators, low-flow showerheads, advanced power strips for audio-visual equipment, Smart thermostats - at no cost.
The evaluation is expected to start in April and instillation will take about an hour. Residents can register now at
www.efficiencyalberta.ca
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Below are some great links to some useful mortgage calculators.
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 HUFFINGTON POST
THE BEST DOGS OF INSTAGRAM
Now it's time for photos of
dogs that'll fill your feed with humor. Some of these accounts are wildly popular, while others are less known. But all of them do the same thing: consistently post high-quality photos of really adorable, really funny canines.
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Will Ferrel's living room
TAKE A PEEK INSIDE 19 LIVING ROOMS IN ACTORS' HOMES
When actors are not on location for an upcoming movie or television show, they retire to their high-design homes around the world. In their living rooms, celebrities (and their designers) incorporate cozy
fireplaces
, comfortable seating, bold art, and warm lighting to create spaces that are perfect for any occasion, whether they are entertaining A-list friends, learning their lines, or relaxing with family. Take a glimpse at the personality-packed living room decor of George Clooney,
Jennifer Aniston
, Ellen Degeneres, and many other stars and see where they kick-back after a night on the red carpet.
Diane Keaton's living room
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SPRING CLEANING DOESN'T HAVE TO BE A HASSLE
CALGARY SUN
If you don't think of spring cleaning as a massive job, it becomes all the easier.
Get a head start on simplifying your life with tasks you can complete in just a couple of days.
The one year rule
Pick an area in your home - your closet, cupboards or bookcase - and apply the one year rule. If you haven't worn it or used it in any way over the last twelve months, donate or toss it. You can make an exception for souvenirs or sentimental items.
Organize your entertainment
Sort your books, magazines, DVDs, records and games in a way that makes sense for everyday use. Put those for the kids on lower shelves for easy access, and sell or donate any they (or you) have outgrown.
Monitor expiry dates
Check your medicine cabinet, beauty products and kitchen for expired items.
Clean as a team
Involve the family to quickly deep clean a room or two, going into all the nooks and crannies that every- day cleaning misses. Get all the doorknobs, handles and light switches and move furniture and items away from back corners to clean accumulated dust.
Go paperless
Have you ever gone through paperwork and found a cheque you forgot to cash? Avoid having to tidy up your home office next year by making the move to paperless - in banking, shopping and government payments.
Receive your federal payments - including your pension benefits, the Canada Child Benefit and other tax-related payments such as the GST/HST credit - straight into your bank account by signing up for direct deposit. It's the fastest, safest and greenest way to get your payments. Visit your financial institution or go to
directdeposit.gc.ca for more information.
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Although our team works with both buying and selling clients, I usually work more with selling clients than buying.
However, this past month, I have been working closely with quite a few of my buying clients and have therefore had an opportunity to see how sellers have prepared their homes for showings. What an eye-opener this has been! Some of the homes we have been viewing have been beautifully presented, while others have been on the opposite end of the spectrum. Going through one home with my clients and having to wade through clothes on the floor and not even being able to see counters for all the stuff on them, my client commented "Clearly these sellers did not get the McKelvie Group instructions on how to prepare for a showing"!
I had to laugh, because they were right - we not only have a checklist for our clients - complete with examples - of how to prepare a home for the photo-shoot, but also have a lengthy guide on what to do to have it in the best condition possible.
It can be a lot of work to get a home ready to sell, but the work pays off - a home that shows well will sell quicker and in many cases for more money than one that shows poorly. My clients who made the joke about the house we viewed did a beautiful job of preparing their own home to go on the market and as a result we sold their home within days of it being listed and it sold for an extremely good price.
If you are in the early stages of thinking about selling but aren't sure what you need to do to get your home ready, please don't hesitate to give us a call. We are more than happy to have a preliminary visit with you to go through your home with you and give you our thoughts. Give us a call!
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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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Request an Evaluation?
Want to know what your home is worth? Click on the image above to link to a simple form on our website.
Thinking of Buying?
Many of the homes on the market today, possibly your dream home, are not listed on the Internet. As specialists in this area, we have access to all properties currently for sale and often others that are not officially listed, but still available for sale.
Client Testimonials
View the McKelvie Group testimonials page to see what our clients are saying. Please feel free to write a review by clicking the red ADD REVIEW link on the left side of the page.
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HOUSING MARKET SET FOR FAVOURABLE LEAD INTO SPRING
Detached prices stabilize as city-wide inventory trends down.
City of Calgary, April 3, 2017 - After a long period of disconnect between supply and demand, Calgary's detached housing sector is firmly in balanced territory. Sales were still 10 per cent below long-term trends in March, but above levels seen in recent years, while average inventory declined compared to last year, supporting price stability in the detached market.
"It's not so much that demand went through the roof in March, but that we had less supply come onto the market, which is really helping to balance things out," said CREB® president David P. Brown. "These changes are lifting the cloud of uncertainty for housing consumers and nicely positioning our market as we move into the more active spring season."
Unadjusted detached benchmark prices totaled $503,900 in March, 0.4 per cent above last month and similar to levels recorded last year. Meanwhile, Apartment and attached prices continue to remain well below levels recorded last year.
"Market conditions are quite different in the apartment sector," said CREB® chief economist Ann-Marie Lurie. "The additional supply coming from the new home sector is not easily reversed and the added competition is continuing to weigh on prices in the higher density sectors of the market."
City-wide inventory levels totaled 5,114 in March, 16 per cent below last year's levels. This is primarily driven by the 25 and 17 per cent contraction in the detached and attached markets. Inventory levels in the ownership apartment sector remain three per cent higher then levels recorded last year.
"The housing market transition in the first quarter appears to be consistent with trends in the labour market," said Lurie. "However, the way the rest of the year unfolds will be largely determined by what happens in the next two quarters, as nearly 60 per cent of all housing sales typically occur in that timeframe."
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 WHAT'S YOUR HOME WORTH?
Whether you are buying, selling, financing or re-financing, there is a good chance your home will be subject to an appraisal to assess its value.
As an important aspect of almost all residential real estate transactions, CREB®Now spoke with Kira Penner (Canadian Residential Appraiser) to discuss the appraisal process and clarify some key points when contemplating the value of your home. Penner has been with Avison Young Valuation and Advisory Services (formerly Linnell Taylor Lipman and Associates) since 2005.
Residential dwellings are generally appraised using the direct comparison approach. This means that your home is compared with similar homes in your community and surrounding neighborhoods using current sales data. The appraised value reflects the age, condition and size of your home in relation to those properties that have recently sold in your area. If there has been a fair amount of sales activity, appraisers try to use data that is no older than 90 days. Similarly, your home's value is in part based on being able to successfully market and obtain a sale in approximately a 90-day period.
The size of your lot and where it is situated in your neighborhood can bear on your valuation. If your home faces or backs onto a park, if it fronts a busy collector street or thoroughfare, if it is located across from a school or offers easy access to the LRT, all of these elements will factor in the final appraisal. According to Kira, access to the LRT is considered to be very desirable, while being located across from a school may have a negative influence on your home's appraisal.
A major consideration in determining your home's appraised value is the degree to which it conforms to the other properties in your neighborhood. Kira emphasises that homes built or renovated to a specification far beyond the comparables in the area, will not necessarily see a corresponding dollar-for-dollar increase in value.
Overall, Kira stresses that when utilizing the direct comparison approach in appraising a home, cost does not always equal value. If you are looking to maximize your valuation, consider build specifications and standards that can be supported by comparable properties and transactions in your area. On the other hand, if you are looking only to maximize your love and enjoyment of your home - the sky's the limit.
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FASTER, STRONGER, HIGHER... PRICES?
As Calgary considers a bid for the 2026 Olympics, it will likely find no stronger booster than the city's real estate industry
The prospect of hosting another Olympics is undoubtedly creating a lot of a buzz in Calgary and the city has no bigger booster of the cause than its real estate industry.
The City officially announced last month that an exploratory committee (www.shouldcalgarybid.com) is investigating whether Calgary should bid to host the 2026 Winter Olympic and Paralympic Games.
While there's no guarantee the City will actually go through with it, hosting the Winter Games for a second time could be a boon for Calgary's real estate market.
Look no further for evidence than the past two Olympic Games held in Canada, says Dr. Harry Hiller, a University of Calgary professor who studies the impact of the Olympics on host cities.
Following the 2010 Vancouver games and the 1988 Calgary games, real estate prices in both cities surged, based on MLS® System data.
"In a nutshell, what it amounts to is this: if you improve property that is devalued because of some factor - either because of some kind of pollution, contamination or housing that is decrepit," it will have a positive impact on surrounding properties, he said.
Cities hosting the games, Hiller adds, are often better able to attract the significant public funding necessary to rehabilitate parcels of land, which otherwise would be difficult to develop. And, in turn, they can then construct important social infrastructure - like sports venues - that often provide long-term community benefits.
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CALGARY IS STILL A BUYER'S MARKET
Sotheby's International Realty Canada says the Greater Toronto Area (GTA) will lead Canada's four major cities in sales of homes priced
over $1 million in 2017. The company also says sales volume, velocity and pricing of the $4-million luxury segment in the GTA is projected to surpass previous years' record-breaking performance.
Vancouver's $1-million-plus market is anticipated to normalize in the coming months, while cautious opti- mism returns in Calgary.
Montreal's market for real estate over $1 million is expected to continue its course of modest, healthy growth.
Specifically on Calgary, the Sotheby report says, "Cautious optimism has returned to Calgary's top-tier real estate market as sales activity stabilized leading into spring 2017.
"Sales over $1 million (condominiums, attached and single-family homes) experienced 19 per cent gains in 2016 over 2015 and early 2017 data indicates that this ground will maintain into the spring.
"As inventory contracted, 64 properties sold over $1 million during the rst two months of 2017, unchanged from the same period in 2016.
"Of these transactions, 57 single-family homes sold over $1 million, up a marginal 2 per cent over the same period in 2017. Two condominiums sold over $1 million in the first two months of 2017 compared to one in 2016.
"Stabilizing consumer con dence, however, remains fragile.
"The city's real estate market remains vulnerable (due) to continued uncertainty in the oil and gas sector, elevated unemployment rates, wage uncertainty and net population outflow. The potential risk for new spring listings inventory to over-take demand also exists.
"With a buyer's market still entrenched in Calgary, and with conventional and top-tier market indicators still weak, sellers are cautioned to price and market strategically for current conditions through the course of the spring."
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SALES GROWTH SHOWS IMPROVEMENT IN MARCH
Here's a quick look at Calgary's MLS market in March, from the Calgary Real Estate Board's monthly report:
- 1,906 homes sold in March, 20 per cent higher than last year, but eight per cent below long-term averages.
- Months of supply has remained elevated in the apartment sector, averaging 6.1 in the first quarter of the year compared to the 2.4 average in the detached sector.
- The unadjusted semi-detached price averaged $389,600, up 0.9 per cent from February and one per cent higher than prices one year ago. The row/townhome average was $304,100, down 0.6 per cent from February and 4.5 per cent below last year.
- Detached sales growth has improved across all areas, with the exception of the northeast area. On the supply side, reductions have been most notable in the northwest, taking months of supply to a quarterly average of 1.63.
- The average detached benchmark price in the first quarter remained one per cent lower than the first quarter of last year. However, the northwest, west and east sides of Calgary saw higher quarterly prices than the first quarter of 2016.
- While prices in the row and apartment sectors are still easing in the majority of areas, some price gains occurred in the semi-detached sector. After the first quarter, semi-detached prices are higher than last year's levels for the city centre, northeast, northwest and west districts.
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CREB NOW
With a diverse mix of old and new neighbourhoods, Calgary's northwest residents say they share a common identity
Ascend to the summit of Nose Hill Park on a clear, sunny day and you'll have a spectacular vantage from which to survey the city. It's just one of the many parks in the city's northwest that Calgarians know and love.
As a quadrant, northwest Calgary is an area roughly bordered by Deerfoot Trail to the east, the Bow River to the south, Calgary's city limits to the west, and Stoney Trail to the north.
The northwest is diverse, in both demographics and geography. Several new communities now exist farther north and west of Stoney Trail and one of city's oldest neighbourhoods, Bowness, dates back to the turn of the 20th century.
Despite the varying ages of the communities, residents from different backgrounds say they all share a "northwest identity."
Tammy Roberts has lived in Thorncliffe, another "old northwest" community, for the past nine years. "The northwest was the quadrant we leaned most strongly towards," said Roberts, speculating it's because both she and her husband grew up in northern Calgary.
"Thorncliffe is further from the centre than we wanted, but price point pushed us here," said Roberts, adding the couple was looking to buy a house "with character." Thorncliffe offered them that, as the four-level split they settled on is circa 1961.
Roberts say she and her husband were also looking for walkability, transit access and "visual interest," which Thorncliffe's mature trees and varied streetscapes lined with homes of varying architectural styles provides.
"I love, love, love that Thorncliffe is so diverse, ethnically, in terms of household income and age," said Roberts, adding that she wants her twin toddlers to experience diversity.
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HUFFINGTON POST
By Suzy Strutner
Their masterpiece includes a living room, kitchen, conference room, underground galleries and a studio that spans four floors connected by a spiral staircase. Plants spill over the walls to create
rooftop oases and ground-level gardens galore.
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HUFFINGTON POST
Two-bed, one-bath and a fireplace in the toe.
The idea of living in a shoe has gotten a bad rap ever since that Mother Goose nursery rhyme. But sometimes, residing in footwear can be a real kick.
That is, if the shoe in question is actually a giant cowboy boot.
Dan Phillips, a
renowned designer and builder, is currently putting the final touches on a home in Huntsville, Texas, designed to look like a giant cowboy boot from the front.
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HUFFINGTON POST
Avoid having your desk face a wall as this is said to promote stagnant energy.
Feng Shui translates to "wind-water" and is the Chinese art of creating harmonious energy within a space. Feng Shui uses ancient principles to help increase the positive flow of "chi" or energy using colors and the five elements of nature.
Many people swear by the effects of Feng Shui and believe that it can help to encourage health, happiness, good fortune and
positive energy. To experience these benefits for yourself, why not try a few of these easy suggestions-
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Living Room
This is the heart of the home and where most family activities are carried out. Keep this area free from clutter and introduce a lot of natural light and plants. Avoid heavy curtains and choose a couch is raised up off the floor with legs. This helps to create a positive flow of energy within the room. If possible, try to position the couch against a wall so it doesn't break up the space in the room.
The Kitchen
In Feng Shui, the kitchen represents abundance. If you want to
attract abundance and good fortune into your life, you need to keep your kitchen clean and your counters free from clutter. Never leave dirty dishes in the sink, as this is said to drain positive energy. Keeping a plant or herb garden in the kitchen is said to promote vibrant and harmonious energy.
Bedroom
The position of your bed is very important in Feng Shui. You don't want to have your bed directly facing the door and you don't want to have a mirror facing your bed. Next to the door works best or diagonal from the door also works well. The bed should also be raised up off the floor to help promote the flow of energy. Never have items under your bed either, as this is believe to cause restless sleep. When decorating your room, try to have everything in pairs to create a sense of balance and symmetry. Avoid hanging large pictures above the bed or having large chandeliers over the bed.
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The Bathroom
The bathroom is one of the most important rooms to Feng Shui in the house. This is because the bathroom contains a lot of water energy, which can flush chi out of the home. To create a harmonious flow of energy, keep the toilet lid down and cover drains with rocks or a plug. Decorate your bathroom in earthy colours to counteract the watery energy and keep counters clear of clutter. Hanging a
crystal in the bathroom is also said to help increase the flow of positive energy. If you have an ensuite, be sure to keep the door closed at night.
The Home Office
Place your desk in the power position in the room. You should be able to see the door. Avoid having your desk face a wall as this is said to promote stagnant energy. If you want to attract more clients, consider having two chairs on the other side of your desk. In Feng Shui, it is not considered good fortune to have a mirror in the office. To promote good fortune and abundance, hang a crystal in the north-east corner of your office.
The Dining Table
A round table is always preferred in Feng Shui as it helps to promote balance and equality. Dining tables with sharp edges should be avoided, as this is said to promote hostility and negative energy. Keep your dining room intimate by decorating in soft, warm colours. Hang a mirror in the room that reflects the dining table; this is said to bring in abundant energy. Have an even number of chairs and arrange the layout so no one has their back to towards a door or window.
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Why not give some of these easy Feng Shui tips a try to see if they help to invite positive chi into your home.
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Sincerely,
