June 2024 - Calgary Real Estate Update
.CampaignEmail * { margin:0; padding:0; font-family:"Roboto", Arial, sans-serif; } .CampaignEmail table { width:600px; max-width:600px; text-align:left; } .CampaignEmail a { color:#3F51B5FF !important; } .CampaignEmail img { width:600px; max-width:100%; } .CampaignEmail figure { max-width:600px; margin:0; } .CampaignEmail figure.image { width:600px; max-width:600px; } .CampaignEmail figure img { width:100%; max-width:600px; } .CampaignEmail figcaption { color:lightgrey; font-size:0.9rem; text-align:center; } .CampaignEmail td { max-width:600px; } .CampaignEmail h2 { font-size:24px; line-height:1.5; margin-bottom:1.2rem; } .CampaignEmail p { line-height:1.375; margin-bottom:1.2rem; text-align:left; } .CampaignEmail figure.table { line-height:1.375; } .CampaignEmail figure.table td { padding:0px 10px 10px 10px; } .CampaignEmail figure.table td figure.image { max-width:250px; margin:auto; } .CampaignEmail figure.table td figure.image img { max-width:250px; } .CampaignEmail figure.table p { margin-bottom:0; } As the summer months are just around the corner, that means it’s also garage sale season! Cost of living continues to be a hot topic of discussion in Calgary, so in this issue I’ll talk about garage sales so you can make your dollar stretch further. Father’s Day is also coming up, so I’m also sharing some ideas for outdoor chairs for Dad—he’s in for a treat! Don't miss out on the latest market statistics, discover upcoming summer events, and get the latest real estate news. I’m also shining a spotlight on another special neighborhood this month. As always, I’m here to help with any real estate needs or questions you might have. Enjoy reading! Justin NewmanMobile: 403-969-5542Office: 403-668-1272✉ justin@happyhousehunting.cawww.happyhousehunting.ca Calgary home sales remain robust despite supply shortages in lower price ranges In a market that continues to show resilience, May saw a total of 3,092 resale home sales. While this figure is nearly one per cent below last year's record high, it is 34 per cent higher than long-term trends for the month. The pullback in sales was primarily driven by declines in lower-priced detached and semi-detached homes, where there was limited supply choice compared to last year. "Although new listings have increased, much of this growth is in higher price ranges for each property type," said Ann-Marie Lurie, Chief Economist at CREB®...READ MORE Calgary housing market: No end in sight to surging activity – CMPAlberta’s disintegrating affordability advantage, in 7 charts – Calgary HeraldCalgary real estate is red hot; homes selling over asking... – Western StandardOkotoks house prices set record for third straight month – Western Wheel'A perfect storm for sellers': Demand for lower-priced listings... – CTV NewsAlberta real estate buyers waiting for better interest rates... – Edmonton Journal The Real Estate Council of Alberta (RECA) is advising consumers to evaluate the risks of condition-free offers to purchase propertyIn Calgary's highly competitive real estate market, where the limited supply of homes often results in multiple offers, it's tempting to make a condition-free offer to stand out. However, the Real Estate Council of Alberta (RECA) urges caution with this strategy. Typically, offers to purchase include specific conditions that must be met within a set timeframe for the sale to proceed. Without these safeguards, you risk significant financial and legal complications if unforeseen issues arise. Always weigh the potential risks before opting for a condition-free offer to ensure a smooth and secure home buying experience. Heritage Park Children’s Festival (Jun 15 – 16)Discover a day of endless fun for kids! With exclusive activities like face painting, live music, puppet shows, and more, don’t miss this enchanting event where children can explore and play!Wings and Wheels at The Hangar Flight Museum (Jun 15 – 16)Every Father's Day weekend, local car clubs join to showcase special vehicles alongside aircrafts. Enjoy family fun with flying crafts, a vehicle show, and optional helicopter tours by LR Helicopters (extra fee). Sponsored by De Havilland Canada in 2024!Calgary Zoo: Father’s Day Brunch (Jun 16)Make Father’s Day unforgettable with a zoo brunch! Enjoy delicious food, explore wildlife, and let kids craft personalized gifts. It’s a day Dad won’t forget!Calgary International Bachata y Cultural Festival (Jun 21 – 23)Don't miss the 2nd Annual Cultural Festival at the Glenmore Inn and Convention Centre! Experience a weekend of dance, rhythm, and global cultural celebration with top instructors.The Kensington Night Market (Jun 27)Explore the market, enjoy local vendors, and immerse yourself in the vibrant entertainment of Kensington.Sound Atlas Music Festival (Jun 27 – 29)Latitude 49 and Land’s End Ensemble are excited to co-host the 2nd annual music festival at Contemporary Calgary. Showcasing works by living composers and exceptional performances by local and global sound artists, the festival offers a rich variety of musical genres to enjoy.CountryFest: Cowboys Music Festival (Jul 4)Don't miss the kickoff of CMF 2024 at Cowboys Music Festival! Join Kip Moore, Brett Kissel, and Cooper Alan for a night of country legends and hits! WHERE ELSE CAN I FIND HIDDEN TREASURES? Estate SalesEstate sales are organized to sell the possessions of a household, typically due to downsizing, moving, or the passing of a homeowner. These sales offer a wide variety of items, often including furniture, antiques, and collectibles. Professional estate sale companies usually manage these events, ensuring an organized and efficient process. Churches and Community CentersChurches and community centers frequently host garage sales and flea markets as fundraisers. These events bring together community members, offering donated items at bargain prices. They often include additional activities such as bake sales or raffles to enhance the fundraising efforts. Listings on Facebook, Craigslist, KijijiOnline platforms like Facebook Marketplace, Craigslist, and Kijiji are popular for listing garage sales in cities. These platforms allow sellers to reach a broad audience, providing details about the sale, including location, date, time, and highlighted items. They also offer tools for buyers to search for specific types of sales and items, making it easier to plan their shopping routes. Influence of Home Values and Demographics on Garage SalesWhen it comes to garage sales, price isn’t everything—it’s important to know where to look. You’re more likely to find higher quality items like designer clothes, upscale furniture and electronics in more affluent neighbourhoods. Residents in these areas may tend to upgrade more often, and select higher quality items when purchasing. Tips for Successful Bargain HuntingDo your research and look through Craigslist, Facebook Marketplace, and Kijiji to find garage sales in your area. Look for multi-family sales or neighborhood-wide events for a larger selection. Plan your route to hit the most promising sales first. Prioritize sales that start earlier in the day, and show up early before the good stuff gets snapped up. How to Negotiate for a Better DealThe truth is, the seller is just trying to get rid of their old stuff. There’s definitely room for negotiation. Before you negotiate however, you should show interest in the product and ask questions. Once you’re sure you want it, try offering a lower price that’s reasonable, or by offering to purchase more items for a bulk price. Above all, make sure you do it in a respectful manner and be ready to walk away if the price isn’t right. ConclusionGarage sales offer a fantastic opportunity to find hidden treasures. Whether exploring estate sales, community events, or online listings on platforms like Facebook Marketplace, Craigslist, and Kijiji, there's always a chance to score great deals. Affluent neighborhoods often yield higher quality items, and effective negotiation can help you get the best prices. By planning ahead, doing your research, and approaching each sale with a friendly attitude, you can maximize your garage sale experience. Happy hunting! UPCOMING GARAGE SALES IN CALGARY: - Glenbrook Annual Parade Garage Sale (Sat, Jun 8)- Willow Ridge Community Parade of Garage Sale (Sat, Jun 8)- New Brighton Mega Garage Sale (Sat, Jun 8)- Arbour Lake Community Yard Sale (Sat, Jun 15) Nolan Hill is a charming residential neighbourhood that exudes a quaint, Old-World atmosphere with its stone accents and castle ruins-inspired architecture. Situated in the northwest quadrant of the city, it offers a mix of housing options, predominantly featuring single-family homes, townhouses, and spacious duplexes. The community is known for its picturesque landscapes, numerous green spaces, and modern playgrounds, making it ideal for families. Convenient amenities include local shopping centers and easy access to major roadways, enhancing its appeal as a comfortable suburban retreat. This email was sent by: Justin Newman - eXp Realty, 700 - 1816 Crowchild Trail NW , Calgary, AB, T2M3Y7 If you don’t want to receive emails anymore, you can unsubscribe Email Newsletter for Real Estate Professionals Designed by RealInfoBOX.com
May 2024 - Calgary Real Estate Update
Hello and welcome to the latest edition of our Newsletter! We're thrilled to unveil our refreshed look with an all-new website! It's not just looking a lot more modern; we've also enhanced functionality for an even better client experience. Take a peek at HappyHouseHunting.ca to see for yourself!With the recent sunny days and milder weather, hopefully you’ve been able to get out and enjoy the weather a bit more. If you’re in the market for some real estate, it’s also a great time to see what’s out there in the real estate market. In this issue, explore the latest market statistics, a curated list of upcoming local events, and the latest real estate news. Don’t miss our main article on micro units, a growing trend for those looking to buy their first home. These small, efficient spaces offer a practical way into homeownership. Plus, we feature a detailed profile of a standout neighborhood, and a handy guide on essential tools every homeowner should have. As always, If you have questions or anything else about real estate, I’m here to help. Justin NewmanMobile: 403-969-5542Office: 403-668-1272✉ justin@happyhousehunting.cawww.happyhousehunting.ca Price growth persists in Calgary as seller's market prevails Sales in April rose by seven per cent compared to last year, to 2,881 units. While the pace of growth did ease compared to earlier in the year, sales remain 37 per cent higher than long-term trends for the month. Much of the growth in sales has occurred for relatively more affordable, higher-density products. At the same time, there were 3,491 new listings in April, an 11 per cent gain over last year but only three per cent higher than long-term trends. The rise in new listings compared to sales prevented any further deterioration of the inventory situation. However, with 2,711 units in inventory, levels are 16 per cent below last year and half of what is traditionally seen in April...READ MORE To request a custom market update for your specific neighborhood, email justin@happyhousehunting.ca with your neighbourhoods name! 'Blanket rezoning' brings sweeping change — on paper. In practice, it's... – CBCCalgary's luxury market no longer starts at $1 million – Calgary Herald'A double-edged sword' — Housing prices, sales across Alberta... – Calgary HeraldCalgary's already tight rental market expected to be squeezed even... – CBCInterprovincial migration helps fuel tight Calgary housing... – Calgary HeraldSigns of strain amid Alberta's population boom – CBC Day Out With Thomas (May 4 – 5, 10 – 12)Join Thomas the Tank Engine on a train adventure in Calgary, featuring bubble-themed fun and a sensory-friendly program. Don't miss the chance to create family memories with real train rides and special experiences like Breakfast With Sir Topham Hatt - tickets are selling fast!Eau Claire Market Farewell Celebration (May 11)Celebrate 30 years of memories at the Eau Claire Market with a heartfelt farewell event, blending nostalgia and community spirit. Enjoy vibrant markets, cultural performances, and interactive art projects for a memorable experience!Mother's Day Brunch Buffet at Thomsons (May 12)Treat the special women in your life to an exquisite Mother's Day Brunch Buffet prepared by talented chefs. Reserve your spot now for this highly sought-after event before tables fill up!Mother's Day Brunch at Fairmont Palliser (May 12)Celebrate Mother's Day in the beautiful Crystal Ballroom at the Fairmont Palliser. Treat your loved ones to delicious food, live music, and cherished moments together. Highfield Food & Beverage Market Fest (May 18 – 19)Savor the finest Brewery Belt beverages while exploring Market Fest, featuring unique items from local vendors at this AGLC Licensed event. Admission is free, so come and enjoy!East Town Get Down Independent Music and Food FestivalExperience over 40 bands across 10 venues on INTL Avenue (17 Avenue SE), where you can enjoy diverse international cuisine alongside a curated lineup of independent music genres—all at an affordable price!Servus Calgary Marathon (May 26)Celebrate 60 years of Canada's longest-running marathon. With six race distances catering to all abilities and ages, including options for walking and mobility devices, it's an event for everyone to enjoy.Cochrane Pet Expo (Jun 1)Enjoy food trucks, entertainment, and vendors showcasing the latest pet products at the Cochrane & District Agricultural Society Park. Bring the whole family, including your leashed pup! Stampede Cellar Uncorked (June 22) A brand new wine and food experience coming to the BMO Centre. Featuring the champion wines from the Stampede Cellar Showdown international wine competition and locally produced culinary offerings provided by over 20 restaurants from across Alberta, guests will have the chance to sip, swirl and savor wines and vote for the best bites of the night. An introduction to micro unitsAs home ownership aspirations adapt to urban living, micro units are emerging as the answer to space issues and financial challenges. Here's a primer on micro units and how they might be suitable for you too. What is a Micro Unit?A micro unit, typically found in studio apartments, is an exercise in space efficiency. Ranging from 100 to 500 square feet depending on where you’re located, these units redefine what it means to live small, ensuring a full living experience with a minimal footprint. In Vancouver, legal dwelling unit sizes can go as low as 320 square feet. Who chooses this lifestyle?Who chooses micro living? Micro living appeals to a diverse range of individuals, from young professionals and empty nesters to environmentally conscious individuals seeking a minimalist lifestyle. With the cost of living in Canada rising significantly in recent years, those who settle in these smaller units can enjoy lower maintenance costs and a more sustainable way of life. Micro units are often located in prime urban areas that are close to amenities, public transport and city life. This makes micro living a good choice for the modern city dweller. What about financing?Financing a micro unit can be a little different from other units. Some of the banks, such as TD and Scotiabank have restrictions on their policies for units under 600 square feet. Sizing restrictions will vary amongst the banks, so it’s best to check in-person with a Mortgage Specialist. ConclusionWhile micro living may not be suitable for everyone, it offers a unique opportunity for those seeking an affordable, minimalist, and sustainable lifestyle in urban centers across Canada. As cities continue to adapt and embrace this trend, micro units are poised to become an increasingly viable housing option for homeowners and aspiring buyers alike. McKenzie Towne, located in southeast Calgary, epitomizes a small-town ambiance within a large city. This community boasts a variety of housing options including single-family homes, townhouses, and condos, catering to diverse lifestyles and budgets. Architecturally distinct, McKenzie Towne is divided into three areas: Prestwick, Elgin, and Inverness, each with its unique charm. The heart of the neighbourhood is High Street, offering shops, cafes, and essential services that foster a vibrant community spirit. The area is enriched with ample green spaces, parks, and a scenic pond, ideal for outdoor activities. Additionally, McKenzie Towne Hall acts as a central hub for community events, further enhancing the neighbourhood's strong sense of community. Overall, McKenzie Towne offers a blend of modern living with a nostalgic, communal feel, making it an attractive choice for many. This email was sent by: Justin Newman - eXp Realty, 700 - 1816 Crowchild Trail NW , Calgary, AB, T2M3Y7 If you don’t want to receive emails anymore, you can unsubscribe Email Newsletter for Real Estate Professionals Designed by RealInfoBOX.com
April 2024 - Calgary Real Estate Update
Spring is in the air, and with it comes my latest April Newsletter, carefully curated just for you. This month, I’m bringing you fresh insights and updates to help you stay ahead in real estate. Discover the latest trends with the March Market Statistics infographic, and mark your calendars with the selection of local events and news. For our savvy investors and homeowners, dive into my feature article on tax deductions for homebuyers and landlords in Canada. Looking for a spring refresh? The tips on revitalizing your bathroom decor are a must-read. And don't miss out on exploring this month’s neighborhood spotlight, where community charm meets unparalleled value. If you're curious about the market, contemplating a change, or simply want to chat, I'm just a message away. Here's to a splendid month ahead! Justin Newman✆ (403) 969-5542✉ justin@happyhousehunting.cawww.happyhousehunting.ca March reflects strong seller's market and price increases March sales rose to 2,664 units, a 10 per cent year-over-year gain and much higher than long-term trends. While new listings did pick up over last month, the 3,172 units were still below what we typically see in March and not enough relative to sales to drive any change in the supply situation. In March, the sales-to-new listings ratio rose to 84 per cent, and the months of supply fell below one month. “We have not seen March conditions this tight since 2006, which is also the last time we reported high levels of interprovincial migration and a months-of-supply below one month," said Ann-Marie Lurie, Chief Economist at CREB®...READ MORE Home buyers are getting more creative in quest to own – Calgary HeraldLuxury home sales make up growing share of Calgary’s market – Calgary HeraldHome prices expected to climb in spring real estate season – Calgary HeraldCalgary housing market sees price surge amid low inventory and high... – REMCanada’s real estate correction may be nearing its end – Calgary Herald Locked Library Thrilling Heroics (Apr 13)Tackle puzzles and riddles in two hours at Calgary's Central Library. Team up for a night of mystery-solving and compete for prizes. Stay sharp, the next puzzle's details are a secret. Can you escape the Locked Library?The Spring Market at the Deerfoot Inn & Casino (Apr 14)Visit the 2nd annual spring market featuring 80 vendors to bring Spring into your home & spirit! Admission and parking are free.Calgary Underground Film Festival (Apr 18 – 28)Spanning 11 days, the festival at Globe Cinema offers a packed lineup including movie showings, discussion panels, the unique CUFFcade, and a variety of special happenings.Dalhousie Spring Farmers Market (Apr 20)Visit the spring farmer’s market featuring over 25 Alberta local vendors offering a diverse array of homemade, baked, grown, and crafted products. Supertrain 2024 (Apr 20 – 21)Discover Canada's largest train expo! Family-friendly fun with model trains, Thomas, Lego, historical displays, art, play areas, face painting, and more, all in a 50,000 square foot space.Calgary Comics and Entertainment Expo (Apr 25 – 28)Stampede Park transforms into a four-day spectacle of comics, sci-fi, horror, anime, and gaming, captivating fans with celebrity encounters, artist showdowns, workshops, and a shopping extravaganza.Triwood Spring Market (Apr 28)Enjoy a mix of vendors, live music, and tasty food and drinks for sale. Celebrate spring, shop for Mother's Day, and prep your garden for planting!Jane’s Walk Festival in Calgary (May 3 – 5)Join to explore the city through free walking tours featuring downtown murals, nature's poetry, and historic streets. It's a city-wide celebration open to all. Sign up and discover Calgary with us! The Canadian government offers a variety of financial incentives designed to support individuals and families across different aspects of life, including housing, education, and employment. Each incentive comes with specific eligibility criteria, making it essential to understand which ones you may qualify for. To navigate these opportunities effectively and maximize your benefits, it's crucial to consult with an accounting professional who can provide tailored advice based on your unique circumstances. First Home Savings Accounts (FHSAs)The First Home Savings Account (FHSA) is a tax incentive for first-time homebuyers, allowing them to save up to $8,000 annually, with a total limit of $40,000, for their first home purchase. The FHSA offers tax-deductible contributions and tax-free withdrawals, akin to RRSPs and TFSAs, aiming to facilitate homeownership. Home Buyers’ Amount (HBA)The Home Buyers' Amount provides a $1,500 reduction in federal tax for first-time homebuyers who can claim up to $10,000. It covers various home types and extends to purchases for disabled individuals, helping alleviate the financial burden of acquiring a home. Home Accessibility Tax Credit (HATC)The HATC allows claims up to $20,000 for accessibility enhancements in homes, offering a tax credit of up to $3,000. It benefits seniors and those with a disability tax credit, covering modifications like ramps and grab bars to improve accessibility and safety. Rental Income DeductionsVarious expenses associated with managing your rental property can be deducted to reduce your taxable income. These deductions include advertising costs to find tenants, property taxes, insurance premiums for the property, and interest on loans taken out to buy or improve the property. Properly accounting for these expenses can significantly decrease your tax liability associated with rental income. Moving ExpensesIf you move more than 40 kilometers for work or school, your moving expenses may be deductible. Eligible costs include moving company fees, travel expenses, and legal fees, providing tax relief for education- or employment-related relocation. Multigenerational Home Renovation Tax Credit (MHRTC)The MHRTC offers up to $7,500 for creating secondary suites for seniors or disabled adults in family homes. This credit supports families in providing care and creating inclusive living environments while acknowledging the financial investment in home modifications. Cranston, nestled in Calgary's southeast quadrant, offers a harmonious blend of urban comforts and natural beauty. Housing options range from single-family homes to townhouses and condos, accommodating diverse lifestyles. Residents enjoy stunning views of the Bow River Valley and the Rockies, complemented by well-maintained parks, green spaces, and pathways for outdoor activities. The community provides convenient access to amenities like shopping centers, schools, recreational facilities, and dining options, fostering a high quality of life. Cranston's welcoming ambiance and abundance of amenities make it a prime choice for families and individuals seeking a balanced lifestyle in Calgary's thriving landscape. This email was sent by: Justin Newman - eXp Realty, 700 - 1816 Crowchild Trail NW , Calgary, AB, T2M3Y7 If you don’t want to receive emails anymore, you can unsubscribe Email Newsletter for Real Estate Professionals Designed by RealInfoBOX.com .CampaignEmail * { margin:0; padding:0; font-family:"Roboto", Arial, sans-serif; } .CampaignEmail table { width:600px; max-width:600px; text-align:left; } .CampaignEmail a { color:#3F51B5FF !important; } .CampaignEmail img { width:600px; max-width:100%; } .CampaignEmail figure { max-width:600px; margin:0; } .CampaignEmail figure.image { width:600px; max-width:600px; } .CampaignEmail figure img { width:100%; max-width:600px; } .CampaignEmail figcaption { color:lightgrey; font-size:0.9rem; text-align:center; } .CampaignEmail td { max-width:600px; } .CampaignEmail h2 { font-size:24px; line-height:1.5; margin-bottom:1.2rem; } .CampaignEmail p { line-height:1.375; margin-bottom:1.2rem; text-align:left; } .CampaignEmail figure.table { line-height:1.375; } .CampaignEmail figure.table td { padding:0px 10px 10px 10px; } .CampaignEmail figure.table td figure.image { max-width:250px; margin:auto; } .CampaignEmail figure.table td figure.image img { max-width:250px; } .CampaignEmail figure.table p { margin-bottom:0; }
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