Amy Brooks Real Estate Blog

CREB® forecasts a process of recovery for the remainder of 2017

Mon, 28 Aug 2017 16:53:13 GMT

Enjoying the last few weeks of summer, makes us all start to think of fall. With a summer of heat and a steady market, we are looking a busy fall with listings and sales.

Sharing with you the CREB forecast, enjoy your summer days and looking forward to fall.

CREB^® forecasts a process of recovery for the remainder of 2017

The first-half of 2017 marked a shift in Alberta's economy from recession to recovery, with conditions supporting stability rather than expansion.

"Economic challenges continue to exist, as high unemployment rates, weak migration levels and more stringent lending conditions are weighing on the housing market," said CREB^® chief economist Ann-Marie Lurie.

"This will continue to cause some adjustments in the housing market for the remainder of this year. However, this is not expected to offset earlier gains supporting general stability in 2017."

Resale sales activity is expected to total 18,401 units in 2017, a 3.3 per cent improvement over last year. The pace of growth is slightly faster than originally anticipated, due to the stronger growth that occurred in the first half of the year.

"We saw many of those consumers who delayed any purchasing decisions willing to re-enter the market as concerns regarding the economy eased," said CREB^® president David P. Brown.

"More potential buyers on the market helped move some of the product in inventory and started to create some price stability."

Improvements in the supply demand balance, primarily in the detached and attached sector, caused prices to start to trend up. Demand growth through the remainder of the year is expected to ease relative to inventory levels. This should prevent further substantial shifts in pricing. Overall, annual city wide prices are expected to remain at levels comparable to last year.

Despite generally improving trends, difficulties continue to exist in the condo-apartment ownership market. Rising sales cannot keep pace with the growth in new listings, keeping supply levels high and placing continued downward pressure on prices. This area of the housing market will likely continue to face challenges well into next year, as it will take time to absorb additional inventory in the resale, new and rental markets.

"Improvements in the labour market are supporting the shift in the housing market this year. However, activity over the past two years was amongst the weakest we have seen since the financial crisis," said Lurie.

"While the shift is welcome news for many, we continue to expect that process of recovery will be slow and dependent on the property type and location within the market."

For more information, please refer to the CREB^®'s 2017 Economic Outlook & Regional Housing Market Mid-Year Update found here.

CREB®Link

CREB®Now

CREB®

Housing recovery

Wed, 02 Aug 2017 19:15:00 GMT

Looking to moving forward this fall with the work-in-progress market.

Statisitics from the Calgary Real Estate Board, August 2107.

Housing recovery remains a work-in-progress

Market sees modest inventory gains, but overall prices inch up

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-to-date 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 Ann-Marie 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.

For a full analysis of the Calgary housing market in 2017, please refer to CREB^®'s 2017 mid-year update to be released in mid-August.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

Canada is home, Happy 150 Canada!

Sat, 01 Jul 2017 23:20:00 GMT

Why I choose Canada as my home and Calgary as my home city!

This year marks the 150 birthday of our nation, Canada.

I chose Canada because of the wonderful and helpful Canadians I had met along my life's journey so far.

Canada is successful as a nation because it has always been a country founded and built by people who came here by choice, who immigrated for a chance at a new life, and who have worked hard, generation after generation to build a tolerant society.

Canada is one of the greatest countries in the world. Free health care, four seasons, hockey, peace, love - all in abundance.

In other words, great multicultural spirit is what Canada stands for.

The people of Canada have worked hard to build a country that opens its doors to include all, regardless of race, religion, or community, a country that respects and gives equality to all.

I proud to say I am a Canadian

There is no other country around with the freedom and choices Canada has to offer.

Happy Canada Day to all.

Sharing why Canada is Home with Remax!

Home Maintenance

Tue, 18 Apr 2017 23:03:00 GMT

In today’s highly competitive homebuyer market, it’s crucial to have your house stand out from all the rest. The key is creating a space where potential buyers can picture themselves living — can they see themselves winding down at the end of a long day in your cozy living room? Do they envision long, summer nights barbecuing with the family and relaxing outside?

Staging, landscaping and decorating are three under-utilized techniques proven to increase appeal in your home and speed up the buyer process.

Staging involves cleaning and organizing your space to appeal to the widest demographic of buyers possible — basically, transforming an average home into a show home. Redesigning your home takes time, but is extremely helpful when it comes to marketing. A staged home allows for beautiful photography, which amps up the quality and interest of those browsing your listing online. With staging, less is more. You don’t want to cram the space full of things — it’s important the buyer has room to envision his/her things around the home.

Especially when it comes to houses, landscaping is very important to the selling process. How your home looks on the outside is the first thing a buyer will notice — great landscaping is critical in increasing your property’s curb appeal. Keep your lawn trim and your sidewalks free of debris in the summer, and make sure snow is shovelled in the winter. Even adding finishing touches like a vibrant flowerbed can go a long way in garnering appeal for your home.

Decorating is a great way to create ambience in your home. You want your home to look attractive, comfortable and clean as well as researching current market trends so you have a better idea of what aesthetics might appeal to a prospective buyer. Here are some decorating tips to consider before showing your home:

Neutral colour pallets are best. Combined with subtle pops of colour, this juxtaposition can bring life and style into any room of the house.
Combining textures helps to give a room depth. Keep this in mind when hanging paintings and decorating countertops.
Furniture should reflect the room size. If your couch is too large for a space, it can make a room seem much smaller and more cluttered than it actually is.

Remember: staging, landscaping and decorating are all key investments to make when putting your home on the market. Here are a few helpful decorating websites to get you started on staging process:

Relocating Your Home

Tue, 21 Mar 2017 23:01:00 GMT

Between packing, moving and assessing your assets, relocating your home can be time-consuming and confusing. But with the right real estate agent, the process can actually be something to look forward to.

There are a million reasons to relocate: family, work, upsizing, downsizing…you name it. First things first, it’s important for you to pinpoint what your needs are. Those needs will be dependent on your family size, life circumstances and the qualities you’re looking for in a home.

New parents
High on the priority list for new parents, is finding a home close to schools and other families. A big part of your home search will depend on what school you are hoping to have your child enrolled in, as well as proximity to sports, leisure, recreation and afterschool care facilities. Number of bedrooms, baths and even the backyard layout are critical for new parents.

A retiree can either be looking to downsize, or move into a quieter environment. After a lifetime of work, it’s not unusual for a retiree to think about relocating to an adult-only building. Because many parents have raised grown children who’ve moved out on their own, retirees may consider downsizing to a more affordable place with room for just one or two people.

First time homeowners may be considering relocating from an apartment to a home. Accustomed to renting, this demographic is often looking into how to get mortgage approvals and develop strategies for building future equity.

Here are some general relocation questions all potential homeowners should ask themselves before purchasing:

What will my commute be like?
How close are amenities (i.e. grocery store, gym, gas station)?
Do I want to purchase a new or older home?

Relocating can be tricky, but bringing the right questions forward can help your agent save time and resources by focusing on the properties that best fit your finances and needs.