Take a look at our new Calgary Home For Sale in the desirable community of Monterey Park.

OPEN HOUSE SATURDAY May 4, 2:00 – 4:00 PM. HOME SWEET HOME. This great 2 Storey home is located on a quiet cul-de-sac in the desirable community of Monterey Park.  As you enter you’re invited in by the welcoming front foyer with high ceilings. The main floor offers a large living room,  dining room and a bright kitchen. The upstairs includes a spacious master bedroom with walk-in closet & lots of natural sunlight brought in by the lovely bay window + 2 more bedrooms & a 4 piece bath. The partially finished basement has a large family room, 4 piece bath & laundry room. Other great features include, gas fireplace, hardwood floors, fresh paint, storage shed, double attached garage & a $2500 BUYER BONUS for new carpets. This home is located on a pie shaped lot which is fully landscaped with a private back yard, perfect for entertaining. This is the perfect home in a wonderful location close to all schools, parks, shopping and public transit!”

To view the virtual tour for this home please click here

For additional details on this property please click here

Please Contact Us if you would like more information or would like to book your own private viewing of this home

With a mortgage, there are many options for you depending on your financial situation. Both variable and five-year mortgages are now available for less than 3 per cent, but those low rates won’t last forever.

Finance Minister, Jim Flaherty, decision last year to tighten the rules for mortgage insurance by reducing the maximum amortization from 30 to 25 years was the right one for Canadians to reduce household debt.

Some critics argued that this measure brought about the slowdown of the real estate markets due to the hike in minimum monthly payments for an insured mortgage. Many Canadians who would have bought homes could no longer qualify under this new rule.

However, let’s look at the numbers to see how this would help all the Canadians that are planning to take advantage of today’s low rates by buying a home or renewing a mortgage:

The average price of a home sold in Calgary in the month of February 2013 was $457,111. Assuming the average downpayment for a home would be close to 20 per cent, that would mean a $365,000 mortgage.

At a variable-rate mortgage of 3 per cent interest with 25 year amortization, your monthly payments would be $1,727.35 with a total of $518,203 paid including $153,203 of interest over 25 years (or 300 payments). However, if we switch to a 20 year amortization period, our monthly payments would of course increase to $2,020.89, but our total overall payments now total $485,013 with only $120,013 of interest payments. That’s a savings of over $33,000 in interest costs!

Do your own calculations using my Mortgage Calculator and you will see how much money you can save just by choosing a lesser amortization period. Even if you have to renew the mortgage later on, you will have a smaller balance to deal with. As we’ve seen, a lot can happen with interest rates in that time. For example, within the past decade, the prime rate (which drives variable-rate mortgages) rose by as much as 1.75 per cent in less than one year and term mortgage rates have varied even more.

So if you are looking for a new mortgage or renewing this year, choose the lowest amortization period you can afford and save your money!

Sources: http://www.creb.com/, www.financialpost.com

Calgary’s resale housing market price growth is being recognized as being one of the best in Canada.

Calgary has experienced an increase of 6.6% from their average price of $435,032 in 2012. This puts Calgary in the same group as Victoria, Saskatchewan, Thunder Bay, Halifax, and Newfoundland in the 7% home price growth range over last year.

With the current inventory of sales low in Calgary there has been a spike in demand for single family homes, especially one’s located in desirable communities and inner-city Calgary. This is resulting in less days on market and an overall increase in price growth.

Please contact us today if you would like to see what the market value of your home might be in this hot market.

We will provide you with a Free Market Evaluation of Your Home

Source:  Calgary Herald- Calgary Price Growth

Not only was Calgary voted Canada’s best place to live but it can now add Canada’s best place to raise a family to its list of accomplishments.

Money Sense ranked Calgary as Canada’s best city to raise a family, largely due to its high average income combined with low taxes…Some of the advantages of living in a booming city!

The main figures that lead to Calgary being ranked in first place are as follows:

Percentage of population under the age of 15: 17.90%

Percentage of families with kids: 47.95

Daycare spaces per 1,000: 22.03

Average monthly daycare fee: $726

If you are looking to move your family to Calgary and want some more information about this fantastic city click here

If you would like to receive a relocation package from us please click here

Source: http://money.ca.msn.com/savings-debt/gallery/canada%e2%80%99s-best-places-to-raise-kids#image=11

Relocating? 3 People You Need On Speed Dial

If you’re planning on relocating to a new area, you’re going to need the assistance of some important individuals to help complete this project and make it a success. A real estate agent, attorney and life coach will be able to find the ideal home, close on it and get you organized and settled within a set amount of time.

1. Real Estate Agent

Planning a move can be a stressful and emotional event in your life. Whether it’s to further advance your career, a change of scenery or needing additional space, finding the perfect location may be difficult to achieve without the help of a real estate agent. They have the knowledge and expertise to help you find the home of your dreams and go through comparable listings to determine a fair price in today’s marketplace.

A real estate agent will also be a tough negotiator and help you throughout the entire home purchasing process from beginning to end. Ensuring the safety and soundness of a property is also crucial, and an agent can enlist the help of a home inspector to assess a property’s condition.

2. Attorney

Relocating and purchasing a home is one of the largest investments you will ever make. Doing this on your own without the help of an attorney can lead to serious legal issues and headaches for the buyers involved in the transaction. A real estate attorney will be able to review the necessary contracts before you sign them.

They will also be able to work with the seller’s attorney, real estate agents and loan officer to coordinate important dates such as the home inspection, attorney approval and mortgage guarantee. A professional and knowledgeable attorney will be able to look over documents pertaining to the purchase of your home such as the deed, legal property descriptions, plat of survey, mortgage commitment documents, title and insurance.

3. Life Coach

Given the emotional stress, upheaval and settling process relocating brings, having a coach on speed dial can help you make your move easier. For example, Toronto area life coaches can help you explore your thoughts, motivations and feelings in regards to the relocation. They’ll also be able to help you establish a specific timeline and keep things organized, so you can enjoy a painless and stress-free move.

A life coach can also help you create the life you want, the location where you want to reside and implement the plan to get you there. They will also go a step further and personalize a plan that works specifically for you. The relocating process can be extremely challenging and a coach can put together the intricate details, both physical and personal, to help you get situated in your new surroundings. They can also help the rest of your family with tips on how to adapt to a new area, especially if you have young children or teens not particularly fond of the move.

Relocating doesn’t have to be a chore when you have the help of the above most influential people in your move. You can instead look at this as a new adventure and an opportunity to take stock of your possessions and reassess your life.  

Georgina Clatworthy is a freelance writer who knows first hand the trials and tribulations of relocating to a new area. Whether you are looking for Toronto area life coaches or a coach in Montreal, the Noomii’s professional coach directory can connect you with an experienced life coach to help make your transition as smooth as possible.

Photo Credit: What’s it worth? by Alan Cleaver, on Flickr

We might be a little biased but we agree with the new video from Calgary Tourism and Economic Development…..Calgary is the place to be!

If you or anyone you know are looking to relocate to Calgary please contact us. WE are your Calgary relocation experts and will make your experience stress free.

Check out the video on our amazing city and let us know what you think!

http://www.youtube.com/watch?client=mv-google&hl=en&gl=CA&v=yrIPjfwhpQ4&nomobile=1

CALGARY — First-time buyers in Alberta expect to spend nearly $380,000 on a home, the third highest average in the country, according to a report released Tuesday by BMO.

The First-Time Home Buyer’s report said the average amount Canadians planning to buy their first home in the next five years plan to spend is approximately $300,000, with an average down payment amount of $48,000 (16 per cent).

The average spend is the highest in British Columbia at $529,922 followed by Ontario at $392,962 and Alberta at $378,685.

The report also found: on average, first-time home buyers expect to be mortgage free in 20 years, with 20 per cent estimating it will take between 10-19 years; those planning to enter the real estate market for the first time are twice as likely to choose a fixed rate over a variable rate mortgage (46 per cent versus 20 per cent); and first-timers who expect interest rates to stay the same or decrease over the next five years still prefer fixed rate over variable rate mortgages (39 per cent versus 23 per cent).

“Buying a home is one of the most important financial decisions one can make. It’s crucial that those planning to enter the market are well prepared — not only to manage their costs, but also to pay off their mortgage as soon as possible,” said Laura Parsons, Mortgage Expert, BMO Bank of Montreal. “Determining what your mortgage payments and overall costs of home ownership will look like, and then living in that financial reality for a year before entering the market, can be an effective strategy.”

According to the report, two-thirds of first-time buyers (66 per cent) say the latest changes to mortgage regulations — which included reducing the maximum amortization for government-insured mortgages to 25 years from 30 years — have not affected their buying timeline, while 19 per cent say they will have to wait longer before buying as a result.

The report also found: 63 per cent of first-time buyers have made cutbacks to their lifestyle to save for their first home, with 27 per cent expecting their parents or other family members to help them pay for their first home; 59 per cent have had to hold off buying their first home because of increasing housing prices; and 59 per cent wish they had bought their first home five years ago.

mtoneguzzi@calgaryherald.com

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© Copyright (c) The Calgary Herald

Tightened housing supply curbs sales volume

First quarter sales improve in condominium market, while declining in single family sector

The inventory of active homes for sale in Calgary are the lowest March levels in more than five years.  The decline in new listings hampered resale sales growth, which declined by more than two per cent in March compared to March 2012.

New listings in March are five per cent lower than levels recorded in 2012, and five per cent lower after the first quarter.  The overall active listings stand at just 4,006 units, up from February’s levels but well below the number available one year ago.

“Less resale product available to consumers is ultimately limiting sales growth,” said CREB® President Becky Walters. “In addition, resale homes are selling in less time and with continued upward pressure on prices.”

Walters said buyers have grown accustomed to a market when they have more time to make decisions because there was ample supply. But, as market conditions have tightened, if they are serious about purchasing a resale home, they can no longer significantly delay that decision, she said.

“While market conditions are a far cry from activity witnessed throughout the frenzy in 2006 and 2007, there has been a noticeable change over what became the norm over the past few years.” Walters said.

Single-family, year-over-year sales growth declined by six per cent in March, a reflection of declining supply. Active inventory totaled 2,713 units, 22 per cent lower than levels recorded in 2012, and the lowest March inventory level recorded since 2007. The market balance continues to trend into seller’s territory in this segment causing a year-over-year price increase of nearly nine per cent, for a total of $446,500 in March 2013.

“Tighter rental conditions and continued employment growth has supported housing demand growth,” said Ann-Marie Laurie, CREB®’s chief economist. “However, for those looking for more affordable single family home products, their choices continue to narrow.”

She said new single-family listings under $500,000 are declining at double-digit rates, driving consumers at that price point to either surrounding towns, condominiums or the new home market.

The condominium townhouse market is the only category to record a year-over-year rise in sales activity for the month.  This is in part because the level of new listings improved in March 2013 relative to March 2012.  Condominium year-over-year apartment sales declined by nearly three per cent in March.

However, after the first quarter, sales activity totaled 830 units a 6 per cent increase over the previous year.  Condominium townhouse sales totaled 652 units at the end of the first quarter, a 15 per cent increase over the previous year.

“The condominium apartment market remains in balance,” said Lurie. “While it has moved to the lower end of the spectrum, it remains better supplied then the single family market and the majority of product available is in an affordable price range.”

The benchmark apartment price totaled $257,700 in March, a six per cent increase over the previous year.  Meanwhile, the condominium townhouse benchmark price experienced a year-over-year increase of 4 per cent, to $286,800.

“Despite tighter market conditions, it is unlikely that we will have another significant run-up in prices,” said Lurie. “Outside of easing economic factors expected this year, consumers have options in the total housing market.”

Source: http://www.creb.com/public/seller-resources/housing-statistics.php

Looking to move inner-city?

We have the perfect home for you! Come check out our open house this Sunday, March 24th from 2-4pm. This 4 bed, 4 bath home is just walking distance from trendy Marda Loop and downtown. It even has a hot tub in the backyard…What more could you want!