Posts Tagged ‘Resale’

Calgary Home Sales and Prices Spike Higher in 2012

Friday, January 4th, 2013

Calgary’s real estate market has been very active this year.

 

 

CALGARY — Rising population numbers drove Calgary housing sales higher and brought average prices within a hair of the record set in 2007, according to the Calgary Real Estate Board.

On Wednesday it announced that 15 per cent more residential real estate sales were completed in the city of Calgary in 2012 than in 2011 and that average prices were up five per cent.

“Calgary’s housing market has finally started to recover,” said Ann-Marie Lurie, CREB’s chief economist, in a news release. “While prices remain shy of the highs recorded in 2007, this is a move in the right direction.”

There were 21,207 residential property sales in 2012, up from 18,496 in 2011.

The news comes as ATB Financial economist Will van’t Veld reported that Alberta likely welcomed more new Albertans in 2012 than in its boom years a decade ago.

“This isn’t surprising, as the labour market here has been the best in the country and housing costs are relatively affordable,” he wrote in a report.

“The stage is set for the trend to continue in 2013 and beyond.”

Through the first three quarters of 2012, almost 56,000 more individuals came to Alberta than left the province, ATB noted, adding that’s 6,000 more than in 2006, the year Alberta saw its largest in-migration, and 16,000 more than in 2005, the second highest in-migration year.

“The last time Alberta welcomed so many newcomers there wasn’t enough housing to shelter everyone and that sparked the housing boom,” said van’t Veld in a report.

“In the early 2000s, housing starts in Alberta weren’t strong and there was little surplus inventory, so the mid-decade influx of migrants put pressure on existing housing stock. The jump in real estate prices caused a building boom, which is why there is no major shortage today.”

Lurie attributed the recent growth in Calgary’s real estate sales to the energy sector.

“There is no question employment and migration growth has supported housing demand, a trend that is expected to continue this year, albeit at a slower pace,” she said.

CREB figures show that single-family sales rose by 15 per cent in 2012 compared to 2011 but new listings fell by seven per cent, significantly reducing the inventory and pushing prices higher.

“Consumers in the market were looking for value, and, if a home was priced right based on a longer term view of their housing needs, they were buying,” said CREB president Bob Jablonski.

The unadjusted average price of a single-family house in Calgary was $497,000 for the month of December, nine per cent higher than $455,000 in the same month of 2011.

For the year, average single-family prices were up three per cent to $481,000.

CREB said its “benchmark” or typical single family house sold for $434,800 in 2012, two per cent below peak pricing in 2007.

Sales in the apartment and townhouse sector recorded annual increases of 12 and 16 per cent, respectively, while listings declined in both sectors

Condominium apartment average prices totalled 304,000 in December, a 13 per cent increase over December 2011 but CREB cautioned that there were several multimillion-dollar condominium sales in 2012 that skewed figures higher.

Townhouses posted an average price of $306,000 in December, up 4.5 per cent from $293,000 a year earlier.

dhealing@calgaryherald.com

© Copyright (c) The Calgary Herald

Calgary’s economy to rebound, lead Canada in 2011

Thursday, February 18th, 2010

CALGARY – Calgary’s economy will rebound nicely this year and go on to lead the country starting in 2011, the Conference Board of Canada said Wednesday.

In its annual outlook for the cities, the board forecast Calgary’s economy will grow three per cent this year. That comes after a 2.3 per cent decline in 2009, the first drop in two decades.

“Fortunately, the initial stages of an economic recovery are starting to take hold,” the board said in its winter outlook.

“Both housing demand and prices are on the rebound, whil overall consumer confidence is gaining some upward momentum.”

Retail sales are expected to jump 4.2 per cent this year, the forecast said.

In 2010, Calgary’s economic growth will put it in the middle of the pack at 10th place. Vancouver is expected to lead the group at 4.5 per cent, boosted by the Olympic Games that begin next month.

A full recovery in the oilpatch should help propel Calgary’s economic growth to 4.4 per cent in 2010, the strongest among the provinces, the report noted.

Affordability Drives Calgary’s Housing Market

Tuesday, February 2nd, 2010

With rising interest rates on the horizon buyers will see 2010 as the year to take advantage of low mortgage rates

Calgary, February 1, 2010 – Affordability continues to drive a recovery in Calgary’s housing market according to figures released today by the Calgary Real Estate Board (CREB®).

The number of single family homes sold in January 2010 in the city of Calgary was up 39 per cent from the same time a year ago, while condominiums sales saw an increase of 67 per cent from the same time a year ago.

“Low mortgage rates and earlier price reductions have improved the affordability of home ownership for Calgarians,” says Diane Scott, newly elected president of CREB®. “For the time being average home prices are more in line with average incomes.  A narrowing gap between the costs of renting versus owning a home will attract more first time home buyers into the market in 2010,” adds Scott.

January 2010 saw 762 single family homes sold in the city of Calgary. This is a decrease of 5 per cent from 799 sales in December 2009. In January 2009, single family home sales totaled 550. The number of condominium sales for the month of January 2010 was 376. This was an increase of 10 per cent from the 341 condominium transactions recorded in December 2009. In January 2009, condominium sales were 225.

“The story for 2010 will be a balanced and steadier market,” says Scott. “Just one year ago we were facing record low sales and more than 10 months of inventory.  Consequently, year-over-year sales comparisons are up dramatically—but all in all sales this month are moving closer to the range we would expect this time of year,” adds Scott.

The average price of a single family home in the city of Calgary in January 2010 was $441,217, showing a decrease of 2 per cent from December 2009, when the average price was $451,349, and showing an increase of 7 per cent from January 2009, when the average price was $413,049. The average price of a condominium in the city of Calgary was $282,639, showing a 2 per cent decrease from December 2009, when the average price was $288,640 and a 4 per cent increase over last year, when the average price was $270,940. Average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods, or account for price differentials between geographical areas.

The median price of a single family home in the city of Calgary for January 2010 was $398,000, showing a 1 per cent decrease from December 2009, when the median price was $401,000, and a 6 per cent increase from January 2009, when the median price was $374,700. The median price of a condominium in January 2010 was $265,000, remaining the same as in December 2009, when the median was also $265,000. That’s up 9 per cent from January 2009, when the median price was $243,000.

All city of Calgary MLS® statistics include properties listed and sold only within Calgary’s city limits. The median price is the price that is midway between the least expensive and most expensive home sold in an area during a given period of time. During that time, half the buyers bought homes that cost more than the median price and half bought homes for less than the median price.

“Affordability is the silver lining in Calgary’s housing market. Even in the face of slowing wage growth—we can see affordability has improved.  Higher prices in 2007 and 2008 left the average family with a maximum buying power of $250,000—while average single family prices pushed well into the $450,000 range. Lower interest rates have enabled these same families to now look at homes in the $350,000 to $375,000 range—closer to average market prices,” says Scott.

Single family listings in the city of Calgary added for the month of January totaled 1,822, an increase of 126 per cent from December 2009 when 806 new listings were added, and showing a decrease of 12 per cent from January 2009, when 2,068 new listings came to the market. Condominium new listings in the city of Calgary added for January 2010 were 951, up 114 per cent from December 2009, when the MLS® saw 444 condo listings coming to the market. This is an increase of 1 per cent from January 2009, when new condominium listings added were 941.

“The outlook for Calgary is still about energy. Re-starting of investment in Fort McMurray will be needed to boost employment in Calgary.  Undoubtedly Calgary’s economic recovery is still fragile—and improvements in the housing market will be gradual and modest.  The good news is improved housing affordability will make Calgary more attractive to job seekers than in past years,” says Scott.

CREB® is a professional body of 5,445 licensed brokers and registered associates, representing 252 member offices and is dedicated to enhancing the value, integrity and expertise of its REALTOR® members. REALTORS® are committed to a high standard of professional conduct, ongoing education, and a strict Code of Ethics and Standards of Business Practice. Using the services of a professional REALTOR® can help consumers take full advantage of real estate opportunities while reducing their risks when buying or selling real estate. The board does not generate statistics or analysis of any individual member or company’s market share. All MLS® active listings for Calgary and area may be found on the board’s website at www.creb.com.

Coventry Hills Townhouse – $299,900

Wednesday, September 9th, 2009

This unit shows 10 /10! This very well maintained original owner, non-animal, non-smoker’s house is in the desired Community of Coventry Hills. The main floor offers an open plan with upgraded kitchen that includes stainless steel appliance, maple cabinets & breakfast bar. The main floor also offer a 2 piece bath, a large living/dining room area with patio doors that lead out onto a green space. The upstairs offers 2 spacious bedrooms with walk in closets and a large 4 piece bathroom. The basement is undeveloped and ready for your creative touch. This unit also offers hardwood floors, ceramic tile back splash, built in sound system, roughed in wiring for a security system,single attached garage , upgraded maple railings and a park view. This property is in a great location close to major road ways, public transit, schools, playgrounds, shopping, restaurants, golf, Cardel Place Recreational Center & Movie theater. All appliances are included. This unit is in mint condition, don’t miss this opportunity.

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Housing market blossoms in spring

Thursday, June 18th, 2009

There’s little mystery why Canada’s housing market has seen a rebound in sales this spring.

“Record-low mortgage rates have unleashed pent-up demand that accumulated last year when previously soaring prices closed the door on first-time buyers,” said Sal Guatieri, senior economist with BMO Capital Markets, in a research report released Friday.

“After a harsh winter, spring has come surprisingly early to Canada’s housing market. Sales have rebounded from a lengthy slumber and prices have firmed,” he said.

“While it’s doubtful that the housing train has left the station without a recovery on board, the data support our long-held view that the Canadian market is merely correcting, not busting.”

In Calgary last month, historic low mortgage rates combined with less expensive homes compared with a year ago sparked activity in the local real estate market. May witnessed the first year-over-year gain in single-family MLS sales since September and since April 2007 for condos.

“We need to be cautious about declaring a firm bottom is at hand, but the improvement in recent months is an encouraging shift,” said Bonnie Wegerich, president of the Calgary Real Estate Board, when the May numbers were released. “All signs indicate we are moving to a balanced and stable market. Consumer confidence is improving, prices are holding steady and inventory is trending downward.

“I think some buyers are trying to predict the bottom of the market. The reality is if you spend too much time trying to anticipate the bottom, you miss out on choice and selection.”

There were 1,584 single-family home sales last month, up 15.8 per cent from May 2008, while the condo market saw 653 sales, representing a 13.2 per cent hike from a year ago.

The average sale price for a single family home in May was $436,427, while for a condo it was $275,212, compared with $426,311 for a singlefamily home and$277,491 for a condo in April.

The prices are off from year-ago levels when the average was$479,564 for single-family homes and $311,816 for condos. Single-family prices are off by nine per cent, while condo prices are down by nearly 12 per cent from last year.

At the national level, Guatieri said despite massive job losses, demand has firmed for housing, even in Ontario and British Columbia and, to a lesser extent, in “boom-bust” Alberta.

“The surprising upturn in sales, coupled with fewer listings, has tilted the market back towards balance from the buyers’ haven of last year,” he said.

By Mario Toneguzzi, Calgary HeraldJune 13, 2009

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Now is the time for prospective homebuyers!

Thursday, June 11th, 2009

The latest round of statistics released from the Calgary Real Estate Board show May was another strong month in our city.

Single-family home sales in metro Calgary were up 23% from April 2009, according to the MLS sales activity, with 1,584 properties exchanging hands.

Better yet, May 2009 single-family homes sales were an increase of 16% from May 2008.

“We are seeing the first year-over-year gain in single family homes sales since last September,” says Bonnie Wegerich, President of the Calgary Real Estate Board. “A pent up demand has been building — with many first-time home buyers now taking advantage of affordable prices, record low interest rates and federal government housing incentives.”

And first time buyers are coming out in droves. In the Calgary metro area, homes priced at $400,000 or less accounted for nearly 70% of all home re-sales in the month of May.

While reduced interest rates make payments an easier pill to swallow for those making the transition from tenant to homeowner, lower house prices are assisting those who might have previously been priced out of the market as well.

The average price of a single family home in metro Calgary in May 2009 was $436,427, an increase of 2% from April pricing, but a substantial 9% decrease from May 2008’s average house price of $479,564.

The increased market activity is also lowering the gap between supply and demand, which was driving prices down at the end of last year.

“Since December we have seen five consecutive months of increases in home sales, while our inventory continues to trend lower. The gap has narrowed and prices are stabilizing” Wegerich says.

Wegerich went on to say that “all signs indicated we are moving to a balanced and stable market. Consumer confidence is improving, prices are holding steady and inventory is trending downward.”

While inventory is heading down fixed interest rates took a jump recently due to increasing pressure from the raising bond rates. Some lenders increased rates as much as 30 points in one day with hints of additional increases on the horizon.

For those that have been sitting on the fence waiting to take advantage of the current market conditions the window of opportunity may be starting to close on historic low interest rates.

Prospective buyers could protect themselves by securing a pre-approval rate hold, typically available with most lenders for 90 — 120 days, or by ensuring that any pre-approval already in place does not lapse.

It is important to recognize that if you do have a pre-approval in place which is allowed to expire, the slightly increased interest rates available today could lower your maximum purchase price. This is because higher interest rates drive up monthly payments, which translates into a larger payment to factor into your total debt ratio.

Contact an experienced mortgage expert today to determine your best course of action, ensuring you are positioned to take advantage of all the market conditions available to those willing to take action right now, including low interest rates. Nothing can last forever.

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Market gets spring boost

Thursday, May 7th, 2009

MLS® sales activity of single family Calgary metro homes was 1,290 in the month of April 2009, showing an increase of 19% from 1,086 sales in March 2009, according to figures released by the Calgary Real Estate Board (CREB®).

This was a decrease of 5% from April 2008, when single family home sales were 1,363.

The number of condominium sales for the month of April 2009 was 579, an increase of 30% from the 446 condominium transactions recorded in March 2009, and a decrease of 0.3% from April 2008, when 581 condominiums changed hands.

“Spring is giving new life to the residential real estate market,” said Calgary Real Estate Board President, Bonnie Wegerich. “Affordable pricing and low interest rates are drawing buyers back to the market.”

She added that particularly, we are finding more and more first time homebuyers taking advantage of great inventory and very low interest rates.

“We expect spring sales activity will also get a boost from the federal government incentives announced in the last budget, including the increase in the maximum withdrawal allowed under the Home Buyers’ Plan and the First Time Buyer Tax Credit,” added Wegerich.

The average price of a single family Calgary metro home in April 2009 was $426,311, showing an increase of 1% from March 2009, when the average price was $420,354, and showing a decrease of 10% from April 2008, when the average price was $474,564.

The average price of a Calgary metro condominium was $277,953, showing a 2% decrease from March 2009, when the average price was $284,056, and a decrease of 11% over last year, when the average price was $312,586.

Average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods, or account for price differentials between geographical areas.

“The average price for home sales remains below levels reached one year earlier, but year-over-year declines are contracting,” said Wegerich. “Our inventory also continued to decrease in April, which is helping to firm up the balance of supply and demand,” added Wegerich.

Single family Calgary metro new listings added for the month of April totaled 2,010, down just 1% from the 2,023 new listings added in March 2009, and showing a decrease of 40% from April 2008, when 3,377 new listings came to the market.

Calgary metro condominium new listings added in April 2009 were 967, up 7% from March 2009, when the MLS® saw 903 condo listings coming to the market. This is a decrease of 35 per cent from April 2008, when condominium listings were 1,493.

The median price of a single family Calgary metro home in April 2009 was $380,000, showing an increase of 1% from March 2009, when the median price was 375,000, and down 10% from April 2008, when the median price was $420,000.

The median price of a condominium in April 2009 was $251,000, down 3% from March 2009, when the median was $260,000, and down 13% from April 2008, when the median price was $290,000.

All Calgary metro MLS® statistics include properties listed and sold only within Calgary’s city limits.

The median price is the price that is midway between the least expensive and most expensive home sold in an area during a given period of time.

During that time, half the buyers bought homes that cost more than the median price and half bought homes for less than the median price.

“Undoubtedly this market has been challenging for both buyers and sellers, but the improvement in recent months is an encouraging sign,” said Wegerich. “There’s more confidence in the housing market today than at the end of 2008. Prices are stabilizing, inventory is declining and the number of new listings is leveling–these are all signs that a balanced market is on the horizon.

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6 Mathematical Reasons Support Buying Your Home Soon

Thursday, May 7th, 2009

1. Rates are the lowest that they have been for 70 years.With the Bank of Canada’s decision to lower Prime a quarter per cent from 2.50% to 2.25% and its commitment to not change rates for another year, Canadians are expected to continue to take advantage of a record-low prime rates, which are 2.25% at most financial institutions. 3.80% for a 5 year fixed or 3.00% variable(Prime +.75%) are the lowest rates have been since WWII. Rates are this low due to the housing problems started in the USA. Canada followed the American lead lowering rates step for step and now is the best time to take advantage of the situation. In fact, most people with mortgages at 5% or more, who are in year 3, 4 or 5 of a 5 year term, should be better off with renegotiating their mortgage rates.

2.Prices are the lowest that they have been for 3 years .The recent price declines have seen condos that were selling at $260,000 in 2007 now selling for $199,000. The average home price in July, 2007 was $473,000 and is now $403,000 – $70,000 less. These are considered short term price reductions due to the overbuilding in the last boom produced.

Fourth quarter 2008 research by RBC, which measured the proportion of pre-tax household income needed to own a home, found that affordability improved across Canada up to 3.5%. This is due in part to rising family income, as well as lower lending rates. For example, the Bank of Canada has further reduced the overnight rate to 0.25%, from 4.5% in about a year

3 & 4. Interest rates & home prices are expected to increase due to inflation. The US has stated that they are ready to print up to $5 trillion in new funds to support their stimulus spending package, bailouts of the banks, fighting 2 wars and continue to pay their debts, including Medicaid and Medicare, which are $2 trillion underfunded today.

Printing the extra money to pay for it all (the largest increase in national debt since WWII) will increase the money supply by 40% – 50%. That means for every $5 in people’s pockets there will be an extra $2. That extra $2 causes more money to chase the same amount of goods when the recession is over and people start to spend again. Prices then increase
because the supply of goods has remained the same, but demand for those goods has increased and those extra dollars in people’s wallets cause the price to be bid up.

Real Estate is a built-in hedge against inflationThe best way to slow inflation is to raise interest rates so interest rates are expected to go up quickly when the recession is seen to be over by the governments. Raising inflation means that your house will also be going up at the same rate as inflation rises.

Let’s say you put down 5% on a house for $400,000. If inflation then goes up to 10% in one year then your house should go up at the same rate, or 10%. Your house is now worth $440,000 and all the other homes would have gone up the same amount as well. Your $20,000 down payment has now made $40,000. This is called leverage and is a great way for most people stay “even with inflation.” If you decided to keep that $20,000 as cash, it would now really be worth only $18,000 after inflation is taken into account ($20,000 – 10%= $18,000).

5. Buying can cost less than renting because rent is “sticky”. Wages and rents are ‘sticky.’ They go up fast but come down slowly as no one wants their wages or rental income to be reduced. A rental house recently purchased with 15% down for $400,000 at 6.5% interest would need to have a rent of about $1500 a month to break even. Most investors would not want to take a loss and would set the rent the same as the mortgage payment. Average rents would then tend to even out at the same $1500 a month.

Cheaper to buy then rent Because house prices are already down 15% – 20% and mortgage interest rates are less than 4% for a 5 year term, that same $400,000 house can now be purchased for $320,000 with 5% down and payments will now be about $1,340 a month plus property tax of $125 = $1,465 a month. It is now cheaper to buy than rent! Generally, the gap between renting and buying is close to the smallest it has ever been for the last 4 years. Rents are expected to stay the same or increase with the expected inflation. If they increase the same stickiness will keep them where they are even when inflation subsides. This makes buying an even better bet as you are paying your own mortgage, not someone else’s.

6. Alberta & Canada Economies Are Still Strong. • Canada is predicted by the International Monetary Fund – IMF – to be one of the first G20 countries
to emerge from the world wide down turn. Our energy and natural resources are the raw materials used for the world’s production and demand for them will kick start our economy first.

• Since October 2008, Canadian job quality has basically held steady according to CIBC’s Employment Quality Index (EQI). The bank’s EQI ranks job quality by assessing a number of factors including the distribution of part-time vs. full-time jobs; self-employment vs. paid employment; and the compensation ranking of full-time paid employment in more than 100 industry groups.

“The relative stability of our employment quality index suggests that when the labour market turns a corner, job gains will translate into income gains much more quickly than they have in the past, as the base of the existing labour pool is of a higher quality when compared to previous recessions.”

Home sales rise as buyers tiptoe back into market!

Thursday, April 9th, 2009

Calgary’s housing market picked up in March, with both MLS sales and average house prices for single-family homes and condominiums rising from the previous month’s levels.

With house prices stabilizing in the past few months, low mortgage rates and still a high selection of properties for sale, more homebuyers entered the resale housing market last month compared with the dismal months of February, January and December.

Homebuyers such as Kristen Hulsman and her husband Devon who purchased a two-storey, split level house in Temple during the month. The couple own another town-house in Forest Heights which they are renting out. They have owned the townhouse since 2006.

“We were just kind of baby-sitting the market for a while just because we knew it was a pretty good time to buy. So we were kind of waiting for the deals to come up and this one was probably the best that was out there. It’s a beautiful home, so we’re happy,” said Kristen.

The couple had purchased another property a year ago, renovated it and sold it in December.

“We noticed how hard the market had been hit,” she said.

Over the past three months, they’ve been seriously looking at the local market to see what was available.What they found was plenty of selection and “a lot of deals.”

“There’s a ton of deals out there if you keep on top of it or if you have someone or a real-tor who stays on top of that. There’s just a lot out there,” said Kristen.

“Anybody who is motivated right now has been pricing their homes very well.”

For single-family homes, the average MLS sale price in March was $420,354, up from$415,568 in February but still down from a year ago at $474,513. Sales for the month were 1,086 properties, which was up from 825 in February, but off from the 1,418 sales registered in March 2008.

In the condo market, the average sale price in March was$284,056,up from$268,971 the previous month and down from a year ago at $312,620. Condo sales for the month were 446 properties, which was up from 343 in February, but a decrease from the 565 sales in March 2008.

“The Calgary market is slowly shaking off its winter blues,” said Bonnie Wegerich, president of the Calgary Real Estate Board.

“Spring has brought a nice uptick in sales this month and the supply of homes has been trending lower. It is also the first time that the year-over-year decline in average price has started to decelerate — a sign that we are moving into a more balanced market.”

The March MLS numbers are a hopeful sign, said Todd Hirsch, senior economist with ATB Financial in Calgary.

“Consumer confidence in Alberta is down, but I think that there is this underlying sort of latent interest in getting into the housing market and people have been waiting to see where prices are going, and over the several months they’ve kind of flattened out,” said Hirsch.

“It’s given people the sense that the market is not going to correct another 20 per cent downward. Maybe the biggest part of the falling prices is over and maybe now is a good time to get back into the market.”

Average sale prices for single-family homes peaked at $505,920 in July 2007 and for condos at $332,237 in May 2007.

Hirsch said it’s a great time to buy a home as it has become a buyer’s market with plenty of selection, prices down and low mortgage rates.

The fact average prices are”firming up” is a good sign of confidence, said Lai Sing Louie, senior market analyst in Calgary with Canada Mortgage and Housing Corp.

“There has been significant improvement in affordability,” said Louie.

———

Calgary Metro MLS Sales For March

Single Family Homes 2009 2008 Change

Month-end inventory 4369 5957 –26.66%

New listings 2023 3493 –42.08%

Sales 1086 1418 –23.41%

Aver. days on market 48 40 20.0%

Average sale price $420,354 $474,513 –11.41%

Median sale price $375,000 $420,000 –10.71%

Condominiums

2009 2008 Change

Month-end inventory 2052 2781 –26.21%

New listings 903 1561 –42.15%

Sales 446 565 –21.06%

Aver. days on market 56 43 30.23%

Average sale price $284,056 $312,620 –9.14%

Median sale price $260,000 $293,000 –11.26%

Source: Calgary Real Estate Board

6 Ways to Spruce UP your home for under $1000!

Thursday, April 2nd, 2009

Whether you;re getting ready to sell or just want a quick pick-me-up, these decorating ticks- which can be done for under $1,000 -  will turn your place from drab to fab!

1 – PAINT- It’s no wonder painting is on the top three paybacks for resale value. A fresh coat makes any room or home look new and pristine. Try warm grey for a contemporary update, lighten up with a classic beige, or paint once wall a crisp – bold color for an accent wall!

 2 – DEFINE YOUR COULOUR SCHEME – Choose a colour scheme and edit your things to work within it. Aim to have one or two main colours, or stick to a single colour family plus one accent colour to “pop”. No eye for colour? Study a couple of home decor magazines for inspiration

 3 – EDIT YOUR ACCESSORIES – Clear a room of everything except for the furniture, carpeting & curtains. After leaving it for a day or two, bring in accessories one at a time- either stuff you have of something new. Try throw cushions, a statement- making collection of vases( groups of three or five works best), or a piece of art. Don’t add too much, and store the rest to rotate in later.

 4 – REFRESH TIRED FURNISHINGS -  Shampoo upholstery and carpeting. Reupholster a worn couch, or invest in slip covers. If there’s a piece your really don’t like, give it away and replace with something you love. Treat solid hardwood with furniture oil/ polish.

 5 – REPLACE FIXTURES – FAUCETS & HANDLES – Updating kitchen and bathroom taps for a more contemporary design will make the whole room look better. Change cupboard  pulls to brushed chrome/nickel. Cover door knobs to lever-style handles. For the best results use a consistent style throughout your home.

 6 -LIGHT UP YOUR SURROUNDINGS – Throw a little light on the subject – your home – to instantly refresh it. You can illuminate dark corers for a warmer cheerier atmosphere. While recessed  lighting is attractive, its also costly. To economize, add track lighting  to hallways or bedrooms, scones in a vestibule, and new table and floor lamps in the living/dining room.

The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the Calgary Real Estate Board. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.
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