Advantages of being in a buyer’s market.
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Ready to buy a home? Choosing the perfect place to live in requires a little bit of work up front, but laying the groundwork for a smart buying decision will help you make a purchase with confidence. Here are four tips to get your property search started in the right direction:
Meet with a mortgage professional. Discussing your financing options is the best way to start. Banks and mortgage lenders have very specific guidelines in place. Knowing exactly where you stand will help you avoid disappointment down the road and help you establish realistic expectations before you even start to look at homes. If you aren’t approved right away, don’t worry. Your mortgage professional will give you all the information you need to improve your application and let you know exactly how long it will take before you are in good standing.
Determine your budget. Knowing how much you are allowed to spend is the first step, and deciding how much you are comfortable spending each month on housing costs is the most important . Based on today’s mortgage rates, determine a price range that works for you. Keep in mind the additional costs for property tax, condo fees, maintenance, and all other expenses.
Assess your needs. Are you looking for a place to occupy for the next 3-5 years, or are you shopping for a home that you can grow into? Do you love to entertain or need some extra space for a home office? Each buyer has his own unique list of must-haves. Decide on the things that really matter to you, yet leave some room for compromise. Sometimes, it takes a little while for the right home to come on the market, but once it does, it’s always worth the wait.
Choose the right neighbourhood. The location of your new home is one of the most important considerations. Your neighbourhood and the surrounding community should complement your lifestyle. Try to choose an area within a convenient proximity to work, even if you need to spend a little more. You can change almost anything in a home, but the neighbourhood is something that you must accept as is.
Are you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at TheHowardTeam.net.
About Bryon Howard
Bryon Howard and his team of Calgary real estate professionals sell an average of two homes a week. He is a member of the MLS Million Point Club, which ranks him roughly in the top 1% of productive realtors in Calgary. His aim is not just to please clients but to help them buy/sell a home in Calgary at the best price, in the shortest time, and with the least hassle. He is a member of the RE/MAX House of Real Estate that leads in the Canadian market. Learn more about Bryon at TheHowardTeam.net.
A quick rundown of what’s going on in the market for the first 31 days of 2015.
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Website: www.TheHowardTeam.net
Facebook: Calgary Real Estate by The Howard Team
Twitter: @Calgary_Life
LinkedIn: www.linkedin.com/in/bryonhoward
It’s been a slow start for 2015 in Calgary’s real estate market. As a REALTOR, I am asked about my opinions and predictions on a regular basis. The truth is, this year is much different than the last. Planning your real estate strategy will help you navigate through this market and make the right choices to accomplish your goals.
If you plan on selling, have a good strategy in place. Between the headlines and the falling price of oil, consumer confidence has taken a hit in the Calgary market. It’s not that consumers don’t want to make a move, it’s just that they are feeling a little extra cautious. If you plan on selling your home, this isn’t the time to test the market with a high asking price. Buyers are doing their research and are far more likely to act quickly on a home if it is priced fairly and shows well.
Recognize that with change, comes opportunity. Sales are down compared to last year. Consequently, for buyers, there is far more to choose from. One way or another, the real estate market is always fluctuating, but it doesn’t necessarily mean bad news for everyone. Working with an experienced real estate professional will help you plan a strategy, so the market works in your favour – not against you.
Capitalize on an early spring market as a seller. Traditionally, the Calgary spring market heats up annually during the period between February and May. Through the years, these are our best and busiest months. This year, however, local real estate experts are advising that selling as soon as possible is the best way to earn top dollar for your home. We may be in for a minor price correction a couple of months from now, though.
Position yourself for great deals as we head into the summer. Selling your home early will put you in an excellent position during the late spring market. Prices may be slightly lower, there will be plenty to choose from, and the market will more than likely favour buyers. If you need to sell your place first, request a 75-120 day closing date. This will give you a lot of time to search for the perfect home at a great price.
Are you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at TheHowardTeam.net.
About Bryon Howard
Bryon Howard and his team of Calgary real estate professionals sell an average of two homes a week. He is a member of the MLS Million Point Club, which ranks him roughly in the top 1% of productive realtors in Calgary. His aim is not just to please clients but to help them buy/sell a home in Calgary at the best price, in the shortest time, and with the least hassle. He is a member of the RE/MAX House of Real Estate that leads in the Canadian market. Learn more about Bryon at TheHowardTeam.net.
Buying your first home is an exciting process. You’ve probably worked hard and made lots of smart decisions to get you closer to your goal of becoming a homeowner. More so than any other purchase, it’s important to educate yourself in several areas and set realistic expectations.
Understand the current market conditions. The real estate market is always changing. Sometimes it favours buyers, sometimes it favours sellers. It can be affected by a variety of factors including interest rates, available inventory, consumer confidence, and even the weather. You need to work with a local real estate professional who understands the market in your area. This will equip you to make the right decisions and negotiate wisely when purchasing your first home.
Sit down with a mortgage professional. It’s easy to get caught up in the purchase price of a home, but the monthly payments are what will really have an impact on your budget. A mortgage professional will take the time to help you figure out exactly how much you will need to put aside for your down payment, what kind of interest rate you can expect, and how much your new home will cost you on a monthly basis.
Research how far your money will go and consider the various housing options within your budget. Although you may have a particular type of house or neighbourhood in mind, you might be pleasantly surprised if you step outside your comfort zone. Take the time to see properties in person, think about your long term goals, and weigh out the pros and cons of whatever is available in your price range.
Don’t bite off more than you can chew. If you are looking at homes that need some TLC, bring someone along who can help you understand the scope of the project. Renovations can be a profitable investment in the right areas, but you need to do some homework ahead of time to make sure it’s worth your time and effort. With a little research and the help of the right professionals, buying your first home will be an exciting and rewarding experience.
Are you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at TheHowardTeam.net.
About Bryon Howard
Bryon Howard and his team of Calgary real estate professionals sell an average of two homes a week. He is a member of the MLS Million Point Club, which ranks him roughly in the top 1% of productive realtors in Calgary. His aim is not just to please clients but to help them buy/sell a home in Calgary at the best price, in the shortest time, and with the least hassle. He is a member of the RE/MAX House of Real Estate that leads in the Canadian market. Learn more about Bryon at TheHowardTeam.net.
Calgary’s condo sectors continue to set the pace for the city’s residential resale housing market, which recorded 2,148 sales in September, nearly 12 per cent higher than the same period last year. “September’s sales growth was stronger than expected, due largely to a surge in condominium apartment and townhouse sales,” said CREB® chief economist Ann-Marie Lurie, who credits Calgary’s strong economy and fewer options in the lower-priced single-family market behind the continued demand.
For the fifth consecutive month, year-over-year condominium apartment sales growth outpaced growth in the single-family sector. Year-to-date condominium apartment sales totaled 3,819, a 21 per cent increase over last year. This compares with a seven per cent increase to 13,842 units in the single-family market over the same time frame. Added supply in the condominium apartment sector, meanwhile, is providing more choices. New listings increased by 48 per cent in September over last year and nearly five per cent over last month, further improving inventory levels and pushing this market into balanced territory.
In the condominium townhouse market, sales and listings continued its year-to date trend, rising 20 and 21 per cent, respectively, compared to the same period a year ago. Over the first three quarters, 3,002 units have exchanged hands, relative to the 4,011 new listings. Despite an increase in new listings, the condominium townhouse market continues to be relatively tight, with absorption rates remaining below two months.
“While overall supply levels have improved, the condominium townhouse sector continues to reflect the tightest market conditions in Calgary,” said CREB® president Bill Kirk. New listings in the single-family market similarly increased in September, helping to improve inventory levels above two months. A total of 2,148 units entered the market during the month, a jump of nearly nine per cent compared to the same period last year.
“While conditions are now more balanced, the composition of the single-family market has changed,” said Lurie. “One-quarter of year-to-date sales in the sector has been for product priced below $400,000. Last year, it represented 35 per cent of the market share. Two years ago, it accounted for 44 per cent of all single-family sales.”
The single-family benchmark price topped $512,800 in September, similar to August, but a 10.6 per cent increase year-over-year. Condominium apartment and townhouse benchmark prices grew to a respective $298,800 and $330,200, reflecting gains of more than 9.5 per cent relative to last year.
“Calgary’s housing market throughout the spring favoured the seller, resulting in higher-than-expected price gains,” said Kirk. “Now, a more balanced market is relaxing some of that upward pressure on home prices, and prices are leveling off relative to the previous month. Year-over-year, however, gains are still in the double-digit range.”
Recent price gains have encouraged listings growth and, ultimately, supply in all sectors, said Lurie. “However, citywide inventory levels continue to remain below historical norms, and current demand levels continue to point toward healthy absorption rates,” she said.
Download the full market report here
Are you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at TheHowardTeam.net.
About Bryon Howard
Bryon Howard and his team of Calgary real estate professionals sell an average of two homes a week. He is a member of the MLS Million Point Club, which ranks him roughly in the top 1% of productive realtors in Calgary. His aim is not just to please clients but to help them buy/sell a home in Calgary at the best price, in the shortest time, and with the least hassle. He is a member of the RE/MAX House of Real Estate that leads in the Canadian market. Learn more about Bryon at TheHowardTeam.net.
As part of my customer service to my sellers, we ask that our buyers are pre-qualified. We have made it easy for you to get pre-qualified by visiting https://www.mlenow.ca to get step #1 of our process started. In less than 3 clicks you will be on your way to pre-qualifying yourself … and will be closer to your new home!
I would consider it an honor and a privilege to work together with you to achieve your real estate goals! Please feel free to contact me on my cell at 403-589-0004, or visit my Web site at http://www.TheHowardTeam.net for more information.
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Calgary is a big city made up of dozens of individual vibrant communities. Even though Calgarians enjoy the benefits of everything that a major city can offer, many people live in the suburbs and enjoy a tight knit community within their own neighbourhood.
Establishing self-contained communities in one of the many important initiatives that has become a priority to manage Calgary’s rapid growth. As the neighbourhoods around the city expand, it is important from a strategic planning perspective that the residents have access to all of their essential amenities close to home. City planners want to make sure that people can live, go to school and access essential services within a close proximity to home.
If you live within one of these communities, there is no better opportunity to meet your neighbours than participating in one of the local events. The Community of Huntington Hills has a enough sports and recreation to keep even the most active family on the go. Figure skating, minor hockey, slo-pitch and lacross are just a few of the sports that are available for a variety of age groups. There are also plans in place to build an outdoor skate park at 64th Ave and Centre St. N.W..
The community lifestyle is appealing for families because it gives them a sense of security. They have more opportunities to get to know their neighbours then they would in a traditional urban setting. They are more likely to be actively involved in their kids’ school and everyone is always looking out for each other.
Living in a tightknit community is also appealing for seniors. The organized events provide many opportunities to socialize and they can volunteer at local events if they are looking to get involved with their community. The Woodland Creek Community Association offers a bridge club, knitting group, and a senior’s social night every month. Making friends close by is helpful for whenever they need an extra hand.
The best way to enjoy the community where you live is to become involved with it. Whether your neighbourhood has an organized board or not, you will always be able to find like-minded people who take an interest in their surroundings and want to collaborate to make it better.
Are you looking to Sell or Buy a home in Calgary and need someone who won’t rest until you’ve found your dream home or until your home is sold? I’ll work hard to earn your trust and to deliver exactly what you need. Contact me at 403-589-0004 or at TheHowardTeam.net.
About Bryon Howard
Bryon Howard and his team of Calgary real estate professionals sell an average of two homes a week. He is a member of the MLS Million Point Club, which ranks him roughly in the top 1% of productive realtors in Calgary. His aim is not just to please clients but to help them buy/sell a home in Calgary at the best price, in the shortest time, and with the least hassle. He is a member of the RE/MAX House of Real Estate that leads in the Canadian market. Learn more about Bryon at TheHowardTeam.net.
| The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the Calgary Real Estate Board |
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| Trademarks used under license from CREA |
