Fear is a powerful emotion. It shapes the way people think and react. Have you ever read a news article and wondered how the story applied to you, your job, or your financial situation? Most of us have. We view the media as a current and often reliable source, to tell us what’s happening in our city and province. Over the last few months, there is no doubt that economic headlines have had an impact on consumer confidence in Calgary.
Our access to information has never been as fast and widespread as it is today. By the time you finish your morning coffee, you have probably checked out your local newspaper, read about a variety of recent events south of the border, and brushed up on your global current events.
Social media adds a whole new layer of complexity to the way we perceive the world around us. While it’s interesting to hear what others have to say, we are often bombarded with uninformed opinions lead us to question our own position on important events.
Earlier this year, the headlines in Calgary’s news reports had a dramatic effect on consumer confidence. People read about job loss and questioned their own security. We heard that the housing market was in for a major correction, and many buyers put their house hunt on hold. Experts and analysts voiced their predictions and consumers adjusted their behaviour accordingly.
Now that we are halfway through the year, we have hindsight in our favour. Did sales take a dramatic hit? Absolutely, but according to the latest figures from the Calgary Real Estate Board, home values in our city are holding strong. The average sale price is down slightly, but the median price is actually up nearly 1% compared to June and July of last year. Skeptical buyers who were standing by hoping for a dramatic drop are likely questioning their strategy as the market begins to gain momentum.
We know one thing for sure after watching our friends south of the border weather a real, drawn-out recession. Bad news sells newspapers – or rather, it promotes “clicks” in 2015 – but it doesn’t necessarily give us an accurate picture of what’s going on, and more importantly, predictions don’t always come to be. We teach our kids to think critically about the things they see and hear, but sometimes we need a gentle reminder to do the same. Where is our information coming from? Do the statistics make sense? Is it fair to compare this year’s mediocre sales data with last year’s – a record setting period in the Calgary real estate market?
How we respond to headlines often creates a self-fulfilling prophecy. In any economic situation, you need to take the good with the bad. If sales are down, what kind of opportunity does this create? In real estate, we guide our clients to work with the market, not against it, and find ways to capitalize on the opportunities, rather than miss out on great deals because of the looming uncertainty.
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.
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.
Real estate buying and selling might appear to be something anyone can do, but in reality, it is rarely a simple process. Sellers who decide to go at it without the guidance of a professional Realtor will face a gauntlet of challenges on the road to closing. The allure of an “FSBO” transaction (For Sale by Owner) is the temptation to eliminate the real estate commission from the list of a seller’s costs. Ironically, many sellers end up struggling to close the deal on their own and failing to save much money in the end.
Enlisting the guidance of a trained professional when buying and selling real estate affords novice and seasoned investors alike several key advantages.
1. Realtors are Trained Professionals
Realtors are licensed professionals, required to complete in-depth educational programs and pass rigorous exams. Moreover, they are required to complete hours of continuing education on a regular basis. A large focus of the formal education has to do with professional ethics and laws of the agency. Much of the work involved in pushing a transaction to closing involves interaction with the other agents and professionals (lawyers, surveyors, bankers, escrow agents, etc.) involved. Successful real estate agents rely heavily on their network of industry relationships and connections built over the years. Hiring a Realtor to represent your interest as a buyer or seller gives you access to that same network.
2. Realtors have Access to the MLS System
Sellers and buyers who represent themselves do not have access to all information in the local Multiple Listing System (MLS). The data contained in the local MLS is invaluable to finding the right property and pinpointing current value based on market trends and comparable sales. The MLS is a seller’s best friend and you need to work with a Realtor to access its best features.
3. Realtors Have Invaluable Industry Knowledge
There are many laws, rules and regulations governing the transfer of real estate property. There are often complex title concerns and environmental issues that arise in the course of a sale. Knowledge on these things is needed to sort through the concerns and come up with solutions. Experienced Realtors have seen the same or similar problems before. Why not avail yourself of the knowledge that comes with the experience?
4. Other Buyers and Sellers in the Market Will Be Working With a Realtor
Think it through. As a seller, do you really want to field offers and negotiate contracts on your own when the vast majority of potential buyers will have professional representation? You will be at a distinct disadvantage in negotiations. Remember that the best way to obtain full asking price for your property is to have a quick sale. The longer a property sits on the market, the less likely it becomes that you will get your full price. When you list a property with a Realtor, all members of the local MLS will know about it in an instant. You will never be able to achieve that kind of impact through home marketing efforts. In addition, once a buyer sees an FSBO seller, the first thing they try to do is knock down the price to reflect the fact that the FSBO seller is not paying a commission. So how much is really saved, if anything?
Attorneys are always advised to never represent themselves in a dispute, as they will inevitably do a bad job. It is nearly impossible to be effective when you have an emotional stake. The same holds true for real estate transactions. Home buying and selling is an emotional process. Resist the urge to represent yourself. Instead, communicate your goals and concerns to an experienced professional Realtor and leave it to them to get the job done.
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 403-287-3880 or at www.GreetingsCalgary.com .
About Shirley Wright
Like everyone, I have been involved in real estate my entire life! Like you, I grew up in a home! My husband and I purchased our first home in 1998, and since 2001 I have been assisting my husband, Bryon Howard, in our real estate investments and his work as a Top Producing Sales Professional.
I assist sellers and buyers meet their goals, efficiently and have fun doing it.
To serve you better, I network daily with top producing REALTORS in various markets across North America, keeping abreast of the many and varied trends and cycles of real estate.
I look forward to serving you to help you find what you want in our exciting city. Please take some time searching my website www.GreetingsCalgary.com. Many of my clients have advised that the search engine incorporated here is very user friendly.
