Owning your own home became slightly more affordable in the third quarter of 2011 thanks to continuing low interest rates, according to RBC's latest study on housing affordability.

The affordability measure captures the proportion of pre-tax household income that would be needed to service the costs of owning a certain type of home. In the third quarter, that index fell for all categories of housing.

"Housing affordability levels are quite good in most parts of Canada and will pose little threat to overall housing demand," said Craig Wright, senior vice-president and chief economist. "The Vancouver-area market continues to be a major exception, with sky-high property values in upscale neighbourhoods making it both extremely unaffordable and the most at risk of a downward correction."

The uncertainty affecting the global economy, with Europe mired in a debt crisis, is helping to keep interest rates close to historic lows. Rates are unlikely to rise until the middle of next year, and even then only gradually, RBC said.

The cost of owning a detached bungalow dropped in most major cities in the third quarter, with the exception of Toronto and Calgary, which ticked higher.

Although overall affordability improved slightly in the three months to September, housing costs in Toronto, Montreal and Ottawa are also in an "uncomfortable" range.


"We expect to see further slowing in the pace of home price increases next year, as housing demand levels out," said Wright. "These factors will set the stage for a period of relative stability in affordability trends in Canada."

According to the index, the higher the reading, the less affordable it becomes to own a home.

For example, an affordability reading of 50% means that home-ownership costs, including mortgage payments, utilities and property taxes, take up 50% of a typical household's monthly pre-tax income.

The index in Vancouver stands at 90.6%, Toronto 52.1% and Montreal 40.9%.

 

http://cnews.canoe.ca/CNEWS/Canada/2011/11/25/19020391.html

 

 

 

 

 

 

 

 

 

 

Post CommentComments: 0Read Full Story

Despite the market in the U.S. Canada is holding it's own in the housing market!

Home sales poised for another gain

 

Bloomberg News · Nov. 12, 2011 | Last Updated: Nov. 12, 2011 4:10 AM ET

Canadian home sales in October may have recorded a sixth consecutive annual gain, led by increases in Toronto and Montreal, regional housing data show. October sales reported by 11 regional real estate boards show a 10% gain from a year earlier, according to data compiled by Bloomberg. Those 11 markets had recorded a 12% annual gain in September, according to data released last month by the Canadian Real Estate Association. Canada's real estate market has remained strong this year, with buyers taking advantage of historically low interest rates and available credit from banks, prompting Finance Minister Jim Flaherty to tighten mortgage rules in January. Home sales in Toronto rose 18% in October from a year earlier, according to data from the city's real estate board. The Montreal real estate board reported a 7.3% increase in sales in October from a year earlier. Vancouver recorded a 0.9% drop in sales from a year earlier in October, while Calgary sales were up 15%, regional board datashow.

 

http://www.nationalpost.com/todays-paper/Home+sales+poised+another+gain/5700816/story.html

Post CommentComments: 0Read Full Story
I have listed a new property at 359 COPPERSTONE GROVE SE in CALGARY.
Immaculately Maintained 3 Bedroom Home with Many Extra Features. Located on Quiet Street backing onto Green Space with large 20x20 two Tiered Deck! This House greets you with a Large Porch and Ceramic Tiled Front Entry. Living Room warms up with a Gas Fireplace and modern Niche. Amazing Large Kitchen with Hardwood that has plenty of Storage including Pantry, Island, Roll Out Pot Drawers, and Upgraded Appliances. Master Bedroom complete with 4 Piece Ensuite and separate Walk In Closet! 2 more generous sized Bedrooms and another 4 Piece Bathroom Finish the Upper Floor! Deck Recently Stained and Whole House was Painted with Designer Colours in last 2 years! Automatic Underground Sprinkler System and Vacuum System roughed-in. Unfinished Basement with Two Large Windows and Roughed-in Bathroom waiting for you to complete. Playground and New School just steps away.Non Smoking and Non Pet House.OPEN HOUSE SATURDAY NOV. 26 FROM 1:00-4:00. Come see this Fabulous Home today!
Read Full Story
Please visit our Open House at 359 COPPERSTONE GROVE SE in CALGARY.
OPEN HOUSE: Saturday Nov 26 1:00-4:00 p.m.
Immaculately Maintained 3 Bedroom Home with Many Extra Features. Located on Quiet Street backing onto Green Space with large 20x20 two Tiered Deck! This House greets you with a Large Porch and Ceramic Tiled Front Entry. Living Room warms up with a Gas Fireplace and modern Niche. Amazing Large Kitchen with Hardwood that has plenty of Storage including Pantry, Island, Roll Out Pot Drawers, and Upgraded Appliances. Master Bedroom complete with 4 Piece Ensuite and separate Walk In Closet! 2 more generous sized Bedrooms and another 4 Piece Bathroom Finish the Upper Floor! Deck Recently Stained and Whole House was Painted with Designer Colours in last 2 years! Automatic Underground Sprinkler System and Vacuum System roughed-in. Unfinished Basement with Two Large Windows and Roughed-in Bathroom waiting for you to complete. Playground and New School just steps away.Non Smoking and Non Pet House.OPEN HOUSE SATURDAY NOV. 26 FROM 1:00-4:00. Come see this Fabulous Home today!
Read Full Story

If you are new to Calgary or considering moving here. I found an interesting website that is Family orientated with event and loads of information.

 

http://www.familyfuncalgary.com/

Post CommentComments: 0Read Full Story
 
 
Morningside - Airdrie
This is a listing that I have that I have that is an example of using online marketing to the sellers advantage. Ask me how I am focusing on the 90% (National Association of Realtors & Calgary Real Estate Board) of Buyers that go on-line to look for their next purchase instead of using newspaper and magazines (the 4-6% who buy there home from this traditional method depending on what source you use). This is just one example of many that I am using in addition my website and Realtor.ca to get your home in front of the buyer's on-line!
 

Overview
Maps
Photos
Features
Neighborhood










$479,900
Single Family Home
Main Features
3 Bedrooms
2 Bathrooms
1 Partial Bathroom
Interior: 2,492 sqft
Lot: 0.14 acre(s)
Location
402 Morningside Way S.W.
Airdrie, AB T2B3M4
Canada

To get updates on open home dates and other property events, please click the "Like" button below:


Kenton Ryan Kenton Ryan

RE/MAX REAL ESTATE (CENTRAL)
403-819-0405
kentonryan@gmail.com
http://www.kentonryan.com

 


Listed by: RE/MAX REAL ESTATE (CENTRAL)

Nearby properties for sale



Powered By RealBird.com

Post CommentComments: 0Read Full Story

This is a simple video that explains how to choose colors!

 

Post CommentComments: 0Read Full Story

Fort Mac Murray, is getting to be a version of little Calgary with it's growth!

Post CommentComments: 0Read Full Story

I alway get asked what is a good moving company by my clients? It always seem like an adventure. Some companies over book, have hidden costs or have a their truck break down on moving day (yes this actually happened to one of my clients). My lawyer told me recently about a Moving Broker. Just like you have Mortgage Brokers or Insurance Brokers. A moving broker shops around to the various companies for the best price and availability. The great thing is that all the moving companies want this business. This giving the customer better service. As this is new to me, I have not had any feedback. I think it's a great idea and will suggest it to my clients. There are several of these companies on the internet.

 

Regards Kenton

Post CommentComments: 0Read Full Story



Calgary house prices increase 126% in past decade

 

 

Residential building permit value third highest in Canada


 

CALGARY — Strong in-migration, population growth and a vibrant oil and gas sector have pushed Calgary average house prices to an increase of 126 per cent in the past decade, says a new report released Monday by Re/Max.

The report said renovation spending and new construction have been “considerable” secondary factors propping up values throughout the city between 2000-2010.

The report also said the total value of residential building permits in the city during that period was the third highest in the country at $23.1 billion behind Toronto ($77.3 billion) and Vancouver ($35 billion).

“A few reasons I believe Calgary has seen such growth in the last 10 years is simple due to our strong economy from natural resources which has been a driving force in migration into Calgary for jobs,” says Tanya Eklund, a realtor with Re/Max Real Estate Central. “This has resulted in growing our population to well over one million, low unemployment rates, a strong GDP and the demand for housing.

“We are highly affected by inventory levels in real estate. When inventory is low and the demand is there, prices increase . . . We had a very balanced market in this time period and saw huge economic growth which proved significant gains in the housing sector.”

In Calgary, the average price rose from $176,305 in 2000 to $398,764 by year-end 2010.

The Re/Max Housing Evolution report said the average residential price in Canada rose by 106 per cent in the past decade, led by Regina which saw a hike of 173 per cent.

Regina was followed by Edmonton (165 per cent), Saskatoon (163 per cent), Winnipeg (158 per cent), Kelowna (156 per cent), St. John’s (149 per cent), Greater Vancouver (128 per cent) and Calgary.

The report said investment in Canada’s housing stock is at an all-time high in the 16 Canadian residential real estate markets surveyed.

“Revitalization, renovation and new construction have been largely underestimated in terms of overall impact on rising average price,” said Elton Ash, regional executive vice-president of Re/Max of Western Canada. “Yet, outside of supply and demand, these have been among the foremost variables influencing real estate values.

“Population growth is a central to housing evolution, supporting steady household formation, which in turn will boost revitalization, new construction and investment in Canada’s housing stock for years to come. Ultimately, a rising population bolsters the health of the real estate sector and fuels the trends that lead to continued average price growth on all fronts.”

A Housing Market Outlook by Canada Mortgage and Housing Corp. said many factors that support resale housing demand in Calgary have become or remained favourable this year, including growth in full-time employment, low mortgage rates and improved net migration.

“However, competing factors such as uncertainty in the global economy has kept some prospective buyers on the fence, and will continue to temper any large increases in sales,” said the CMHC.

The average price for a residential property in the Calgary census metropolitan area this year is forecast to be $402,000, up 0.8 per cent from 2010.

As the supply in the resale market moves lower and conditions become more balanced, stronger price growth is expected next year, said the CMHC.

In 2012, the average price is anticipated to rise 2.2 per cent to $411,000.

mtoneguzzi@calgaryherald.com


Read more: http://www.calgaryherald.com/business/Calgary+house+prices+increase+past+decade/5668708/story.html#ixzz1dZ0Pnlfb
 

 
Post CommentComments: 0Read Full Story

Not sure which community in Calgary you want to live in. Find out Here!

 

Are you researching Calgary and want to know more about the communities before you decide where your next home will be? Here is a handy link to all the communities in Calgary. There is Blockwatch infomation, Schools, Childrens Activities and much more. I hope you find it helpful.

 

http://www.calgaryarea.com/

Post CommentComments: 0Read Full Story

Resale prices soar within Calgary

It looks as though Calgary’s real estate market is on the upswing.

Several communities had substantial price increases and sales from January to the end of October compared to the same period last year, says the Calgary Real Estate Board.

More than 61 per cent saw increases in the average number of sales, with Collingwood leading the way with a whopping 220 per cent increase.

When it came to price increases, the southwest neighbourhood of Shaganappi took centre stage with average price increases of 140 per cent compared to 2010.

Chinook Park, Downtown, Elboya and Scarboro were the areas of next highest increases, averaging price hikes of almost 33 per cent.

“A boost in full-time jobs throughout the year is gradually translating into improved sales in the real estate sector,” says CREB president Sano Stante in a news release. “Consumers are taking advantage of price stability and a healthy variety of selection. While these gains are moderate, we are set to outpace 2010 sales.”

Calgary residential sales totalled 16,184 after the first 10 months of the year — an increase of more than eight per cent compared to the same period last year.

Almost 75 per cent of those sales were single-family homes totalling 11,503, a 10-per-cent increase compared to last year.

Meanwhile, condo sales from January to the end of October lagged behind the pace for single-family homes, increasing three per cent compared to the same period last year.

Average condo prices experienced a slight decline, mostly due to increased sales in units priced under $200,000.

“Overall, the resale housing market continues to show signs of improvement and, with no near term change in interest rates, we can expect the market will continue to see moderate and stable growth throughout the rest of the year,” says Stante.

LUXURY SALES RISE

Sales of luxury single-family resale homes increased within October, says the Calgary Real Estate Board.

Sales of such homes were on the rise, boosting the average price of single-family homes for October to $455,399. The median price was $395,000.

acox@calgaryherald.com

 

Post CommentComments: 0Read Full Story

The world is changing so fast, so why is Real Estate so slow to change? Tradition...what has worked in the past and always has will work in the future. This thought process is dead wrong. Technology is changing everything. A few years ago Blockbuster Video and Palm were market dominators. Where are they now? Either a better technology came out or wiped them out completly. Real Estate is already technology driven and growing exponentially. The Realtors, Buyers, and Sellers who don't use these tools will be left behind. Check out this video for Realtors and this will give you an idea on what some of us are working on. In my opinion this is already out of date, but a good representation of change.

 

Read Full Story

I was just at the Calgary Commercial Real Estate Forum. It was very impressive the amount of investment coming into this city. There were people here from all over the world with a standing room only crowd at the Telus Convention Centre in November. Yes, we do sell that as well!

 

 

Read Full Story

It has been long process, but home inspections are now regulated in Alberta. This gives a standardization to the industry.

Kenton

 

Home inspection tips to remember

Following are things to remember to get the most from a home inspector in Canada:

  • Choose an inspector who is licensed and qualified. Check the Canadian Association of Home and Property Inspectors (http://www.cahpi.ca/) for its regional associations, which can help you find an inspector in your area, or check B.C. and Alberta government websites. Those two provinces are the only ones that currently regulate the profession.
  • When choosing your inspector, be sure to ask about experience and professional qualifications.
  • A qualified inspector will examine the home's major systems including electrical, plumbing, heating, roofing, foundation, and interior and exteriors.
  • The home inspector will not make the buying decision for you. An inspector can provide you with the information you need to help make that decision wisely.
  • You will benefit most from your inspection if you can be at the house during the process. The home inspection is the perfect opportunity to become familiar with the house. Do not hesitate to ask questions.
  • A good inspector will be glad to take the time to explain proper maintenance and operating procedures for many of the building components.
  • Home inspection is a unique discipline requiring special training, knowledge and communication skills that differ substantially from those of other building professions. Non-affiliated home inspectors are generalists with a comprehensive knowledge on many systems. Membership in a CAHPI provincial organization assures that a professional home inspector has demonstrated the ability to meet or exceed the CAHPI standards of practice.

Source: Canadian Association of Home and Property Inspectors

http://www.cbc.ca/news/canada/story/2011/11/08/home-inspection-tips.html

Read Full Story
Categories: 204 Kincora Glen N.W. | 5 Copperpond Link S.E. | 5535 Forand Street S.W. Calgary ,AB. | Airdrie, Airdrie Real Estate | Albert Park, Calgary Real Estate | Alberta Travel Video | Backing onto Pond | Beltline, Calgary Real Estate | C-207, Calgary Real Estate | Calgary 2013 Real Estate | Calgary Affordable Homes | Calgary Alberta Tourism Tube | Calgary Community Link | Calgary Real Estate | Calgary Real Estate Channel | Canada Housing Sales | Canyon Meadows, Calgary Real Estate | Choosing Colors for your Rooms! | Coach Hill, Calgary Real Estate | Cochrane, Cochrane Real Estate | Community information | Condominium Building Continues in Calgary | Connaught, Calgary Real Estate | Continued Growth | Copperfield, Calgary Real Estate | Cougar Ridge, Calgary Real Estate | Country Hills Village, Calgary Real Estate | Evanston, Calgary Real Estate | Family Calgary Things To Do | Garrison Green | Garrison Green, Calgary Real Estate | Hamptons, Calgary Real Estate | http://youtu.be/vsyabPgsq5s | Huntington Hills, Calgary Real Estate | Kenton Ryan | Kenton Ryan Launching New You Tube Channel | Kincora Summit | Kincora, Calgary Real Estate | Lake Bonavista, Calgary Real Estate | Little Calgary | Lower Mount Royal, Calgary Real Estate | MacEwan Glen, Calgary Real Estate | Manchester, Calgary Real Estate | McKenzie Towne, Calgary Real Estate | Midnapore, Calgary Real Estate | Millrise, Calgary Real Estate | Moving Brokers | New Brighton, Calgary Real Estate | New Schools Announced for Calgary | Ogden, Calgary Real Estate | RE/MAX Real Estate (Central) | Real Estate Internet Marketing | Resale Upswing! | Riverbend, Calgary Real Estate | Royal Oak, Calgary Real Estate | Shaganappi, Calgary Real Estate | Somerset, Calgary Real Estate | Strathmore, Strathmore Real Estate | Technology in Real Estate | Temple, Calgary Real Estate | Thinking of Moving to Alberta | Tuxedo, Calgary Real Estate | Valley Ridge, Calgary Real Estate | West Hillhurst, Calgary Real Estate | Woodbine 6 Bedroom Home in Cul-de-sac! | Woodlands, Calgary Real Estate | www.kentonryan.com

Kenton Ryan

Office: 403-216-1600

Fax: 403-476-0405

  looking at buying
  home
  past client
  Contact Me