Although the average buyer may be feeling a little extra cautious in today’s market, investors are still seeing the unique possibilities that this type of economy presents. Investment opportunities are everywhere. So, despite the difficulty in anticipating when things will change, Calgary has always proven itself to be amazingly resilient.
Developers are used to market fluctuations and are optimistically pushing forward. While the average consumer may be holding back, large development firms see the big picture. They look past the headlines and short-term projections. So, since condo projects and subdivisions take years to complete, new developers continue to buy up land in and around Calgary. Positive net migration has maintained a steady trend this year, and buyers are seeing the value in the Calgary real estate market.
There will always be home owners who NEED to sell. For investors looking to scoop up a few rental properties, this market is immensely favorable. Inventory is much higher than it was last year, and sellers having a sense of urgency are more than happy to negotiate. Though this type of market can be very costly for the impatient, it’s precisely what the savvy investor is looking for.
An uncertain buyer’s market fuels rental demand. It’s easy to get caught up in the chaos. A shaky job market and the low cost of oil has undoubtedly kept buyers at bay since the beginning of 2015. As a result, rental vacancy remains quite low in Calgary and market rent is holding strong. Those who invested in condos or multi-unit rental properties are benefiting from the current climate and can expect a steady demand to carry on in the future.
The low cost of borrowing makes investing a no-brainer. Although today’s new home buyers are extremely rate-sensitive, seasoned investors still recognize our current mortgage rates as incredibly beneficial. Never before has it been so affordable to borrow money. Even though it’s unclear how long the low rates will last, locking into a 5- or 10-year term gives borrowers the stability they need to keep their overhead in check.
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 spring market is already in full swing in Calgary. There is no doubt that our real estate climate is quite a bit different during the same time last year. Although we’ve had a bit of a slow start, it’s important to remember that we are constantly comparing the market to 2014, which was a record-setting time. If you are seriously considering making a move, the changes in the economy have made it essential to have a smart plan in place.
As a buyer, you are in an excellent position to find exactly what you are looking for, without finding yourself in a bidding war over and over again. First-time buyers need to take advantage of the current market conditions while they last. The interest rates are unbelievably low and entry-level homes are in abundance. Still, many like to exercise caution in the market – values may decrease or a better deal maybe just around the corner. The key is to not wait too long. We have seen similar states in Calgary in the past, so there is really no guarantee that this buyer’s market is here to stay for the long haul.
As a seller, recognize that buyers are still seeing the value in the real estate market. They may be a little more cautious than they were in 2014, but they certainly know good value when they see it. Homes are taking a little longer to sell simply because there is no shortage of inventory. Now, more than ever, it is crucial to have a strong pricing strategy and go the extra mile to make sure your home shows a 10+. There are plenty of resources available, and home stagers, in particular, can make an ordinary home look quite exceptional for a reasonable investment.
If you are finding yourself on both sides of the transaction, be sure to work with an experienced Realtor who can help you create the right strategy to accomplish your real estate goals. Should you buy first then, put your house on the market? Should you set out to find your ideal home after selling? The right answer varies depending on the type of property you have and are seeking to upgrade to. In a buyer’s market, it is advisable to sell your home first. This will allow you to move forward knowing exactly how much equity you’d be able to bring into your new purchase.
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.
What do buyers really want? Achieving a quick and stress-free sale requires a unique strategy for each home. The Calgary real estate market is in a much different place than it was last spring, but that doesn’t mean you should put your real estate goals on hold. These four smart tips will help your property stand out and appeal to the right kind of buyers:
Know how your property compares to the competition. It’s important to understand what buyers are looking for. Check out some of the listings nearby, and work with your Realtor for an honest evaluation on how your home stacks up. Does your home have certain features such as a larger yard or updated finishes that others might be lacking? Be sure to showcase the details that make your property stand out from the rest.
Take the time to make a great impression. Getting your home prepared for the market is hard work, but it will be well worth the effort. Whether it’s a professional staging or deep cleaning, give your place the TLC it needs to look its best. Don’t be afraid to ask for help. There are a lot of competent people just a phone call away.
Price it right. Price is the number one driving factor for a quick sale. Particularly in a challenging market, it’s important to fine-tune your strategy. Buyers are highly educated, so they won’t be willing to pay more than the market value in today’s economy. Take a look at recent sales in the area, and determine an asking price that will motivate buyers to check out your listing as soon as it hits the market.
Anticipate deal breakers before they happen. Ordering a home inspection ahead of time is a great way to avoid potential problems during the sale process. This will give you the opportunity to fix any problems with the home or detect some of the bigger issues that might scare buyers away. Some buyers try to use the details of a home inspection as a bargaining tool, which is why the home should be presented with no surprises. This will help you finalize the negotiations on the spot.
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.
There is no doubt that this year is much different than the last. As we head into the spring market, many home owners are wondering how the recent changes in Calgary’s economy will affect their real estate decisions. Here are a few things worth noting:
Homes may take a little longer to sell. According to CREB, homes are taking an average of 38 days to sell. This is longer compared to the 33 days last year during the same period. Consequently, the number of sales transactions has dropped significantly. This means that buyers would rather wait on the sidelines for a better deal to come along if they are skeptical of the value.
Values have dipped slightly, but there hasn’t been a dramatic drop. Does a challenging economy impact our real estate values? To a certain degree, yes, but it would seem that the headlines have a more significant effect on consumer behaviour. In fact, a recent article in the Calgary Herald explained that our city has actually been through a similar slump five different times in the last thirty years. Home values were only slightly affected in each case and always managed to bounce back eventually.
Buyers are out there; they are simply exercising caution. Have consumers lost interest in Calgary’s real estate? Are buyers unwilling to trade up to their next home? The truth is, buyers are still active in the market. Some are just holding off on making a purchase in case prices drop, while others are simply hoping for a little more clarity on what the future holds.
Buyers have far more to choose from this year. If you were house hunting last year, one thing was for certain – there was very little to choose from. Today’s market is quite the opposite. Inventory is plentiful, and there is less competition. If you are selling your home, but aren’t desperate, price it well and don’t feel pressured to sign the first offer that comes your way. Remember, this isn’t the first time Calgary has weathered a tough economy. Despite everything, this city remains a highly desirable place to live and own a home in.
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.
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.
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.
