The number of single family home sales in the month of December 2010 were 734, compared with

November 2010, when sales were 891—a decline of about 18 per cent. The number of condominium sales for the month of December 2010 was 320. This was up from the 310 condominium transactions recorded in November 2010.

In its latest forecast released Wednesday, Scotiabank expects Alberta's economy to expand 3.5 per cent, the most growth among the provinces. The province is expected to post three per cent growth this year.

"Resource-related activity is ramping up alongside strong emerging-market demand for key industrial products, which along with a weaker U.S. dollar, is boosting commodity prices," said Scotia Economics economist Alex Koustas in a release.

The report also noted that Alberta's job market has been slow to catch up to national gains, but expects "substantial" improvements in 2011.

The housing market posted strong rebound in starts, with potential for steady gains as in-migration return to growth, it noted.

Housing starts have recovered sharply this year after steep declines in 2008-09. "Net flow turned positive in the first half of 2010, a trend that should continue as job prospects improve, supporting the outlook for retail and housing activity," Scotiabank said.

The pace of economic growth is more cautious than other recent forecasts, which also show the province to return to the head of the pack next year. RBC Economics pegs Alberta's economy to grow 4.3 per cent next year.

Rising prices for commodities such as oil and metals will play a role in bolstering certain parts of the country, the report said.

It was disappointing to see prices and home sales slide again last month after a slight increase in September.  Home sales in the city of Calgary were down month-over-month in October 2010. The number of single family homes sold in October dropped 7% from September.

Buyers are still remaining cautious, keeping the market soft.  The year over year sales continued to decline in October. 

The average prices of single family homes in the city of Calgary in October 2010 decreased 3% from September 2010, when the average price was $460,278, and a 4 per cent decrease from October 2009, when the average price was $462,465.

The fact remains that the market is still soft and sellers need to be cognizant of this as it affects what they can reasonably expect to list their homes for if deciding to sell.  

On the up side, there were 22% fewer listings of homes in October than September, lowering inventory (number of homes available for sale) which in the long run will help to balance the market.

These stats were released on November 1^st by the Calgary Real Board (CREB ®).

I frequently receive requests for Market Evaluations from clients and potential clients.  In today’s market it is so important to know what our options are, and what the true value of our home is before putting it on the market.  Each REALTOR® has a different way of determining what price they will recommend to their clients when someone requests a market evaluation.  Often the home owner is surprised at the price they are provided by the REALTOR® who they have requested the information from.

I thought in this month’s newsletter I would provide some very basic information as to the process I go through when determining home prices, and how I come to the price that I provide when fulfilling requests for evaluations.

Most of my requests for evaluations come to me via my website.  The home owner provides me with their address, and basic information about their home and request for a price evaluation of their home.

When I receive this information I do a full market analysis for the area specific to the neighbourhood in which the home is located. 

An analysis will include research into the pricing of homes that are actively for sale in the area, as well as the prices of homes recently sold. It may also take into consideration nearby amenities such as schools and shopping facilities.  (Homes near a school will sometimes have a better potential for sale than those that are not, and therefore may command a better price than the same home that is not near such amenities.)

Once I have all the figures and have determined a price range for a home, I then send the home owner an email advising them what I believe the true value of the home is based on the information they have provided for me.

Now comes the insight that every home owner needs to know and understand about the options REALTORS®  have to consider when we are providing home evaluations to potential sellers.  There is a reality to realty!

I think the easiest way to explain how a REALTOR® may work in providing initial evaluations to a home owner is to give you an example:

Upon receiving the information from a home owner about their home, I research the area, the current market, the number of homes that are currently for sale in the area with their current listing prices, and a list of homes recently sold in the area and the prices those homes have sold for.  All the homes I research are based on the same criteria of information the home owner has sent to me, so that I can determine as closely as possible the most appropriate price based on similar homes.

It might look something like this:

Homes Actively For Sale – 9 homes found listed in the surrounding area that are similar in size and structure with similar finishing as the home owner.  They are on the market at prices ranging from $445,000.00 to $499,000.00.  Upon closer look, two of the homes have lowered their prices recently to the lower range of pricing.  Most of the newer listings are priced in the mid-range, and have also lowered their prices from their initial prices, and most of the homes have been on the market for over six months, with one of them being on the market as long as two years.

Homes Recently Sold – Two to five homes that have been the most recently sold that meet the same criteria were sold at prices ranging from $410,000.00 to $439,000.00.  In looking at the original listing prices of these homes, they had been listed from $440,000.00 to $470,000.00.  Four of the five homes sold only after the owners relisted at a lower price. Most sold at the upper range of the sold prices however were on the market for over 6 months before being sold.

Looking into sold properties is more important than comparing the pricing of active listings (properties that are currently for sale).  Sold properties indicate how much buyers are willing to pay for your home given the current market. Therefore when receiving comparable home prices from your REALTOR® is more important to put more weight on the pricing of homes being sold than the prices of those being listed when looking for an accurate price point.

My Pricing Determination – As a REALTOR® I have an obligation to anyone who contacts me to provide them with the best and most accurate information possible. However I also have to consider the position of the home owner. 

Price Determination Example 1 - On home evaluations for potential clients, knowing that they want to get the most value for their home as is possible, if I really want to obtain them as a client I can take the information I have gleaned from my research and price their home in the high range and send them a recommendation of listing between $460,000.00 to $470,000.00. 

By doing this, the home owner may get excited about using me as a REALTOR®  and choose to list their home with me.  I can then initially list the home at that price, however I know from my research that unless there are special circumstances, it is unlikely the home will sell at that price, so why would I want to give my client unrealistic expectations?  Well, if I price the home at a higher price, and the price is similar to other homes that are actively for sale in the area, it is more likely that the client will decide to list his home and that he will list his home with me.

However, experience has proven, time and again that in the end, the homeowner will in most cases over time, agree to lower the price to a level that is more reasonable to potential buyers.  He or she has to in order to get buyers to come through the home.  REALTORS® know this and often when providing initial market evaluations can use this practice to obtain the initial listing.

Price Determination Example 2 – Taking the same information and research, I determine that the home is likely to sell at a price that is within a price range of $430,000.00 and $450,000.00 depending on upgrades and other information that can only be determined upon viewing the actual property.  I know that by keeping the price estimate truer to the reality of what the current market is at, there is less likelihood for disappointment for my home owner.  They are not going to have unreasonable expectations and if the price has to be lowered, it will not be as significant a drop in order to sell the property as it would have to be in Example 1.

When I provide estimates, I prefer to look at what I believe the true value of the home is and provide my recommendations to the home owner based on what I believe I can sell their home for in a reasonable period of time.  I prefer to be conservative in my estimates as it is always easier to explain to a client reasons why they should increase their listing price once I have actually attended their home, rather than try to explain why my online evaluation is over estimated and that they need to lower the price when the time comes to list!

Every REALTOR®  has their own reasons for pricing homes the way they do, however regardless of what pricing is done, the fact remains, the market always sells at the market  price regardless at how the initial listing is priced.  It’s imperative that in order to get the best price for your home that you remain competitive, yet flexible in pricing.  How flexible is entirely dependent upon how quickly you want to move your home in the market.    

Think of it from a buyer’s perspective.  If you have the option of looking at 9 homes in the area you want to purchase in, and all those homes fit the same or very similar criteria, and all are in similar condition, are you going to spend an extra $50,000.00 you don’t need to spend?

True Pricing Determination – The most accurate way to determine what you should list your home for in order to get your highest price in the most reasonable amount of time is to have a REALTOR® attend your home to do an onsite home evaluation.  REALTORS® know what upgrades in your home can accentuate the value of your home and physically attending the residence and viewing your home is the only truly accurate method of determining the most realistic price of your home.  It also provides you an opportunity to ask questions that are important to you in regards to not only potential listing price, but also market timing.  An experienced REALTOR®  can often provide you excellent insight that can help you meet your personal goals.

Many of you who are recipients of my monthly newsletter are actively researching the market to either buy a home or sell your current home or both.  I hope this newsletter helps to explain why an online evaluation often seems on the lower end of the market and have been curious as to why your home is evaluated at the low end of the market. 

Current Market Trends – It is important to understand the significance of the current market trend when pricing your home as well.  Without taking into account current market trends, many homes are overpriced and simply won’t sell if they have not priced themselves according to the current market trends.  Remember too, that when you sell at lower prices, you are also in a position to buy your new home at a lower price as well.  Timing is important, but swings both for selling and buying.  These are important things to factor into your decision to sell and what price point to set.  Good advice from a realty specialist can help you make those decisions.

Free Onsite Evaluations - If you would like an accurate evaluation of your home and recommendations based on the current market I would be pleased to visit your home and provide you a full onsite appraisal, provide you a package with the latest in market information to help you make a sound decision regarding your home and answer any questions you might have regarding the market.  There is never any obligation and I am always ready to help.

If you would like to have a current market evaluation done on your home to determine what your next step should be, I’m here for you.  My business is made from sincerely helping people achieve their personal goals, not trying to convince them to sell if it is not in their best interest.  Nor will I suggest an unreasonably high listing price in order to obtain your business.  I will give you straight facts and advice and the rest is up to you!

Please don’t hesitate to call me at any time.  My personal cell phone number is 403-399-0809, or if you prefer, my personal Email of Natasha@HouseHuntingAdventures.com.  There is never any obligation and I understand and respect that you may only need an evaluation for current interest and that you may not even be in the market to sell your home.  I welcome any opportunities to do onsite market evaluations and enjoy meeting people and providing any market insight you may be in need of.

Hello everyone!

Market Update!  A bit of good news!!

For the first time in many months there appears to be a turnaround in the Calgary Housing Market!  The Calgary Real Estate Board just released the stats for September and while the changes are modest, it is the first uptick in the Calgary market since April.

In short, the number of houses available for sale in the Calgary market has fallen, but the number of sales of homes has increased for the first time in six months.  Along with the increase in the number of homes sold a significant indicator of possible change is that the average median price of homes sold from August to September increased by almost $15,000.00.  If you would like to see the actual stats feel free to send me an email requesting a copy of the CREB Stats and I’ll forward the information to you in an email attachment.

In the homes I have had listed, I have noted and increased number of showings over the last few weeks as well.  While all these indicators are modest, it is certainly a refreshing change from the six months of steady downturn we have been experiencing, and appears to show that the real estate market is beginning to come to life again.

iPhone/Android App Update

I appreciate everyone who has downloaded my iPhone App to search the Calgary MLS system.  It has become quite a popular application.  Don’t be afraid to explore everything it has to offer, and if you have any questions or requests about a property, you can click on the links provided in the listings on the app to notify me and I will be happy to get back to you right away.  Keep in mind that if you sign into the VOW on HouseHuntingAdventures.com it opens up a special account for you where you can save all your home searches for comparables and once set up, you can do the same from your iPhone or Android as well.   If you have any questions, just call!

New to Canada?

I have many clients who are new to Canada who I have guided in their real estate adventures and I understand much of what it is like when coming into a new country.  I experienced coming to Canada, not knowing the languages here, first moving to Quebec and learning the French language, then to Calgary and learning English (Czech is my home language).  The challenges were difficult, but also a great character builder for me, especially while raising three children on my own.  I truly understand all the frustration with moving and setting down roots.  My desire is to help anyone who is a client of mine to make their transition as easy and cost manageable as possible.

 Keep it Drama Free!

I can really empathize with anyone when it comes to moving and all the related stresses and headaches. I’ve been there and done that on my own with my children, many times.  Every move made me a little wiser and I became an organizational wizard!  I understand all about moving a family, and the financial stresses and strains that can ensue.

Through my personal experiences as well as my experience as a REALTOR^©, I have compiled a wonderful list of resources;  from excellent mortgage brokers who are very talented at locating great mortgage rates and helping you to qualify, to home inspectors  capable ensuring nothing is missed when you are looking to purchase a new home.

Please let me know if I can be of service to you.  Even if you are just at the research stage in locating a new home, or you simply would like to have a current market evaluation done on your home to determine what your next step should be, I’m here for you.  Please don’t hesitate to call me at any time. 

My personal cell phone number is 403-399-0809, or if you prefer, my personal Email of Natasha@HouseHuntingAdventures.com.

Wishing you a wonderful Thanksgiving!

Natasha

The average MLS sale price peaked this year in May at $483,240.

The average MLS sale price for a condo peaked this year in May as well at $304,662.

Diane Scott, president of the Calgary Real Estate Board, said supply and demand is playing a role on current average prices but there's also the factor of luxury home sales.

On Wednesday, the Teranet-National Bank Composite House Price Index showed Calgary was lagging behind other major Canadian centres in the rate of change for home prices.

mtoneguzzi@theherald.canwest.com

“Why would you not take advantage of historic low interest rates?”

However, mortgage holders do need to consider that variable rates do change eventually.

Floating rates have historically been the cheaper option over the entire life of a mortgage but not everyone can stomach the often dramatic swings in monthly expenses.

“Even though they are giving up that 1.25%, they are gaining a lot of peace of mind.”

Whereas the central bank influences variable rates, the bond market influences fixed-rate mortgages.

The slower-than-expected economy has fuelled investor interest in the bond rally, pushing yields down and allowing banks to offer attractive fixed-rate products.

And the average MLS sale price in both markets dropped from what they were in July.

"It's the economic situation that we happen to find ourselves in and the negative reports that keep popping up and buyers are kind of standing back, thinking it's going to go down lower," she added.

mtoneguzzi@theherald.canwest.com

- - -

Calgary Home Sales Continue To Slide

The number of single family homes sold in August 2010 in the city of Calgary was down 32 per cent from the same time a year ago, and condominium sales saw a decrease of 42 per cent from the same time a year ago.

August 2010 saw 867 single family homes sold in the city of Calgary. This is a decrease of 5 per cent

from 915 sales in July 2010. In August 2009, single family home sales totalled 1,277. The number of

“There has been much talk recently about the potential for a housing bubble in Canada--but the economic fundamentals at play make this scenario unlikely for Calgary. What we are seeing is an adjustment to higher levels of inventory and a shift to a buyer’s market.”

The average price of a condominium in the city of Calgary in August 2010 was $286,384, showing a 2 per cent decrease from July 2010, when the average price was $291,168 and a 1 per cent increase over last year, when the average price was $283,330. 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 August 2010 was $395,000, showing a 1 per cent decrease from July 2010 and August 2009, when the median price was $400,000. The median price of a condominium in August 2010 was $260,000, showing a 3 per cent decrease from July 2010, when the median price was $268,000, and no change from

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.

Condominium new listings in the city of Calgary added for August 2010 were 808, down 9 per cent

“Total month end inventory for the wider Calgary region is down marginally when compared to July—a trend we expect will continue in the coming months.

New listings are also likely to recede in the coming months in response to slowing sales,” adds Scott.

Klump said he expects in Calgary as "headline price increases persist, as I expect they will over the rest of the year and into 2010, that that will draw a lot of the sellers who moved to the sidelines back to the market as well, and that will take some of the pricing pressure off."

In October across Canada, low interest rates and upbeat consumer confidence continued to release the pent-up demand that built late last year and earlier this year, said Dale Ripplinger, CREA president.

---------

Prices Across The Country

Market Average/Sale Price/Year-Over-Year Change

Toronto $423,507 20.0%

Greater Vancouver $638,948 14.8%

Ottawa $320,561 14.1%

Winnipeg $210,618 10.6%

Montreal $284,024 10.4%

Regina $246,300 5.4%

Halifax-Dartmouth $235,465 4.8%

Calgary $399,679 2.9%

Victoria $481,500 2.6%

Edmonton $318,969 0.4%

Saskatoon $274,759 -3.7%

---------

Calgary October MLS Sales

Category/October 2009/Year-Over-Year Change

Dollar volume $905.272 million 60.3%

Unit sales 2,265 55.9%

Average price $399,679 2.9%

New listings 3,343 -21.9%

The number of single family home sales in the month of December 2010 were 734, compared with

November 2010, when sales were 891—a decline of about 18 per cent. The number of condominium sales for the month of December 2010 was 320. This was up from the 310 condominium transactions recorded in November 2010.

In its latest forecast released Wednesday, Scotiabank expects Alberta's economy to expand 3.5 per cent, the most growth among the provinces. The province is expected to post three per cent growth this year.

"Resource-related activity is ramping up alongside strong emerging-market demand for key industrial products, which along with a weaker U.S. dollar, is boosting commodity prices," said Scotia Economics economist Alex Koustas in a release.

The report also noted that Alberta's job market has been slow to catch up to national gains, but expects "substantial" improvements in 2011.

The housing market posted strong rebound in starts, with potential for steady gains as in-migration return to growth, it noted.

Housing starts have recovered sharply this year after steep declines in 2008-09. "Net flow turned positive in the first half of 2010, a trend that should continue as job prospects improve, supporting the outlook for retail and housing activity," Scotiabank said.

The pace of economic growth is more cautious than other recent forecasts, which also show the province to return to the head of the pack next year. RBC Economics pegs Alberta's economy to grow 4.3 per cent next year.

Rising prices for commodities such as oil and metals will play a role in bolstering certain parts of the country, the report said.

It was disappointing to see prices and home sales slide again last month after a slight increase in September.  Home sales in the city of Calgary were down month-over-month in October 2010. The number of single family homes sold in October dropped 7% from September.

Buyers are still remaining cautious, keeping the market soft.  The year over year sales continued to decline in October. 

The average prices of single family homes in the city of Calgary in October 2010 decreased 3% from September 2010, when the average price was $460,278, and a 4 per cent decrease from October 2009, when the average price was $462,465.

The fact remains that the market is still soft and sellers need to be cognizant of this as it affects what they can reasonably expect to list their homes for if deciding to sell.  

On the up side, there were 22% fewer listings of homes in October than September, lowering inventory (number of homes available for sale) which in the long run will help to balance the market.

These stats were released on November 1^st by the Calgary Real Board (CREB ®).

I frequently receive requests for Market Evaluations from clients and potential clients.  In today’s market it is so important to know what our options are, and what the true value of our home is before putting it on the market.  Each REALTOR® has a different way of determining what price they will recommend to their clients when someone requests a market evaluation.  Often the home owner is surprised at the price they are provided by the REALTOR® who they have requested the information from.

I thought in this month’s newsletter I would provide some very basic information as to the process I go through when determining home prices, and how I come to the price that I provide when fulfilling requests for evaluations.

Most of my requests for evaluations come to me via my website.  The home owner provides me with their address, and basic information about their home and request for a price evaluation of their home.

When I receive this information I do a full market analysis for the area specific to the neighbourhood in which the home is located. 

An analysis will include research into the pricing of homes that are actively for sale in the area, as well as the prices of homes recently sold. It may also take into consideration nearby amenities such as schools and shopping facilities.  (Homes near a school will sometimes have a better potential for sale than those that are not, and therefore may command a better price than the same home that is not near such amenities.)

Once I have all the figures and have determined a price range for a home, I then send the home owner an email advising them what I believe the true value of the home is based on the information they have provided for me.

Now comes the insight that every home owner needs to know and understand about the options REALTORS®  have to consider when we are providing home evaluations to potential sellers.  There is a reality to realty!

I think the easiest way to explain how a REALTOR® may work in providing initial evaluations to a home owner is to give you an example:

Upon receiving the information from a home owner about their home, I research the area, the current market, the number of homes that are currently for sale in the area with their current listing prices, and a list of homes recently sold in the area and the prices those homes have sold for.  All the homes I research are based on the same criteria of information the home owner has sent to me, so that I can determine as closely as possible the most appropriate price based on similar homes.

It might look something like this:

Homes Actively For Sale – 9 homes found listed in the surrounding area that are similar in size and structure with similar finishing as the home owner.  They are on the market at prices ranging from $445,000.00 to $499,000.00.  Upon closer look, two of the homes have lowered their prices recently to the lower range of pricing.  Most of the newer listings are priced in the mid-range, and have also lowered their prices from their initial prices, and most of the homes have been on the market for over six months, with one of them being on the market as long as two years.

Homes Recently Sold – Two to five homes that have been the most recently sold that meet the same criteria were sold at prices ranging from $410,000.00 to $439,000.00.  In looking at the original listing prices of these homes, they had been listed from $440,000.00 to $470,000.00.  Four of the five homes sold only after the owners relisted at a lower price. Most sold at the upper range of the sold prices however were on the market for over 6 months before being sold.

Looking into sold properties is more important than comparing the pricing of active listings (properties that are currently for sale).  Sold properties indicate how much buyers are willing to pay for your home given the current market. Therefore when receiving comparable home prices from your REALTOR® is more important to put more weight on the pricing of homes being sold than the prices of those being listed when looking for an accurate price point.

My Pricing Determination – As a REALTOR® I have an obligation to anyone who contacts me to provide them with the best and most accurate information possible. However I also have to consider the position of the home owner. 

Price Determination Example 1 - On home evaluations for potential clients, knowing that they want to get the most value for their home as is possible, if I really want to obtain them as a client I can take the information I have gleaned from my research and price their home in the high range and send them a recommendation of listing between $460,000.00 to $470,000.00. 

By doing this, the home owner may get excited about using me as a REALTOR®  and choose to list their home with me.  I can then initially list the home at that price, however I know from my research that unless there are special circumstances, it is unlikely the home will sell at that price, so why would I want to give my client unrealistic expectations?  Well, if I price the home at a higher price, and the price is similar to other homes that are actively for sale in the area, it is more likely that the client will decide to list his home and that he will list his home with me.

However, experience has proven, time and again that in the end, the homeowner will in most cases over time, agree to lower the price to a level that is more reasonable to potential buyers.  He or she has to in order to get buyers to come through the home.  REALTORS® know this and often when providing initial market evaluations can use this practice to obtain the initial listing.

Price Determination Example 2 – Taking the same information and research, I determine that the home is likely to sell at a price that is within a price range of $430,000.00 and $450,000.00 depending on upgrades and other information that can only be determined upon viewing the actual property.  I know that by keeping the price estimate truer to the reality of what the current market is at, there is less likelihood for disappointment for my home owner.  They are not going to have unreasonable expectations and if the price has to be lowered, it will not be as significant a drop in order to sell the property as it would have to be in Example 1.

When I provide estimates, I prefer to look at what I believe the true value of the home is and provide my recommendations to the home owner based on what I believe I can sell their home for in a reasonable period of time.  I prefer to be conservative in my estimates as it is always easier to explain to a client reasons why they should increase their listing price once I have actually attended their home, rather than try to explain why my online evaluation is over estimated and that they need to lower the price when the time comes to list!

Every REALTOR®  has their own reasons for pricing homes the way they do, however regardless of what pricing is done, the fact remains, the market always sells at the market  price regardless at how the initial listing is priced.  It’s imperative that in order to get the best price for your home that you remain competitive, yet flexible in pricing.  How flexible is entirely dependent upon how quickly you want to move your home in the market.    

Think of it from a buyer’s perspective.  If you have the option of looking at 9 homes in the area you want to purchase in, and all those homes fit the same or very similar criteria, and all are in similar condition, are you going to spend an extra $50,000.00 you don’t need to spend?

True Pricing Determination – The most accurate way to determine what you should list your home for in order to get your highest price in the most reasonable amount of time is to have a REALTOR® attend your home to do an onsite home evaluation.  REALTORS® know what upgrades in your home can accentuate the value of your home and physically attending the residence and viewing your home is the only truly accurate method of determining the most realistic price of your home.  It also provides you an opportunity to ask questions that are important to you in regards to not only potential listing price, but also market timing.  An experienced REALTOR®  can often provide you excellent insight that can help you meet your personal goals.

Many of you who are recipients of my monthly newsletter are actively researching the market to either buy a home or sell your current home or both.  I hope this newsletter helps to explain why an online evaluation often seems on the lower end of the market and have been curious as to why your home is evaluated at the low end of the market. 

Current Market Trends – It is important to understand the significance of the current market trend when pricing your home as well.  Without taking into account current market trends, many homes are overpriced and simply won’t sell if they have not priced themselves according to the current market trends.  Remember too, that when you sell at lower prices, you are also in a position to buy your new home at a lower price as well.  Timing is important, but swings both for selling and buying.  These are important things to factor into your decision to sell and what price point to set.  Good advice from a realty specialist can help you make those decisions.

Free Onsite Evaluations - If you would like an accurate evaluation of your home and recommendations based on the current market I would be pleased to visit your home and provide you a full onsite appraisal, provide you a package with the latest in market information to help you make a sound decision regarding your home and answer any questions you might have regarding the market.  There is never any obligation and I am always ready to help.

If you would like to have a current market evaluation done on your home to determine what your next step should be, I’m here for you.  My business is made from sincerely helping people achieve their personal goals, not trying to convince them to sell if it is not in their best interest.  Nor will I suggest an unreasonably high listing price in order to obtain your business.  I will give you straight facts and advice and the rest is up to you!

Please don’t hesitate to call me at any time.  My personal cell phone number is 403-399-0809, or if you prefer, my personal Email of Natasha@HouseHuntingAdventures.com.  There is never any obligation and I understand and respect that you may only need an evaluation for current interest and that you may not even be in the market to sell your home.  I welcome any opportunities to do onsite market evaluations and enjoy meeting people and providing any market insight you may be in need of.

Hello everyone!

Market Update!  A bit of good news!!

For the first time in many months there appears to be a turnaround in the Calgary Housing Market!  The Calgary Real Estate Board just released the stats for September and while the changes are modest, it is the first uptick in the Calgary market since April.

In short, the number of houses available for sale in the Calgary market has fallen, but the number of sales of homes has increased for the first time in six months.  Along with the increase in the number of homes sold a significant indicator of possible change is that the average median price of homes sold from August to September increased by almost $15,000.00.  If you would like to see the actual stats feel free to send me an email requesting a copy of the CREB Stats and I’ll forward the information to you in an email attachment.

In the homes I have had listed, I have noted and increased number of showings over the last few weeks as well.  While all these indicators are modest, it is certainly a refreshing change from the six months of steady downturn we have been experiencing, and appears to show that the real estate market is beginning to come to life again.

iPhone/Android App Update

I appreciate everyone who has downloaded my iPhone App to search the Calgary MLS system.  It has become quite a popular application.  Don’t be afraid to explore everything it has to offer, and if you have any questions or requests about a property, you can click on the links provided in the listings on the app to notify me and I will be happy to get back to you right away.  Keep in mind that if you sign into the VOW on HouseHuntingAdventures.com it opens up a special account for you where you can save all your home searches for comparables and once set up, you can do the same from your iPhone or Android as well.   If you have any questions, just call!

New to Canada?

I have many clients who are new to Canada who I have guided in their real estate adventures and I understand much of what it is like when coming into a new country.  I experienced coming to Canada, not knowing the languages here, first moving to Quebec and learning the French language, then to Calgary and learning English (Czech is my home language).  The challenges were difficult, but also a great character builder for me, especially while raising three children on my own.  I truly understand all the frustration with moving and setting down roots.  My desire is to help anyone who is a client of mine to make their transition as easy and cost manageable as possible.

 Keep it Drama Free!

I can really empathize with anyone when it comes to moving and all the related stresses and headaches. I’ve been there and done that on my own with my children, many times.  Every move made me a little wiser and I became an organizational wizard!  I understand all about moving a family, and the financial stresses and strains that can ensue.

Through my personal experiences as well as my experience as a REALTOR^©, I have compiled a wonderful list of resources;  from excellent mortgage brokers who are very talented at locating great mortgage rates and helping you to qualify, to home inspectors  capable ensuring nothing is missed when you are looking to purchase a new home.

Please let me know if I can be of service to you.  Even if you are just at the research stage in locating a new home, or you simply would like to have a current market evaluation done on your home to determine what your next step should be, I’m here for you.  Please don’t hesitate to call me at any time. 

My personal cell phone number is 403-399-0809, or if you prefer, my personal Email of Natasha@HouseHuntingAdventures.com.

Wishing you a wonderful Thanksgiving!

Natasha

The average MLS sale price peaked this year in May at $483,240.

The average MLS sale price for a condo peaked this year in May as well at $304,662.

Diane Scott, president of the Calgary Real Estate Board, said supply and demand is playing a role on current average prices but there's also the factor of luxury home sales.

On Wednesday, the Teranet-National Bank Composite House Price Index showed Calgary was lagging behind other major Canadian centres in the rate of change for home prices.

mtoneguzzi@theherald.canwest.com

“Why would you not take advantage of historic low interest rates?”

However, mortgage holders do need to consider that variable rates do change eventually.

Floating rates have historically been the cheaper option over the entire life of a mortgage but not everyone can stomach the often dramatic swings in monthly expenses.

“Even though they are giving up that 1.25%, they are gaining a lot of peace of mind.”

Whereas the central bank influences variable rates, the bond market influences fixed-rate mortgages.

The slower-than-expected economy has fuelled investor interest in the bond rally, pushing yields down and allowing banks to offer attractive fixed-rate products.

And the average MLS sale price in both markets dropped from what they were in July.

"It's the economic situation that we happen to find ourselves in and the negative reports that keep popping up and buyers are kind of standing back, thinking it's going to go down lower," she added.

mtoneguzzi@theherald.canwest.com

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Calgary Home Sales Continue To Slide

The number of single family homes sold in August 2010 in the city of Calgary was down 32 per cent from the same time a year ago, and condominium sales saw a decrease of 42 per cent from the same time a year ago.

August 2010 saw 867 single family homes sold in the city of Calgary. This is a decrease of 5 per cent

from 915 sales in July 2010. In August 2009, single family home sales totalled 1,277. The number of

“There has been much talk recently about the potential for a housing bubble in Canada--but the economic fundamentals at play make this scenario unlikely for Calgary. What we are seeing is an adjustment to higher levels of inventory and a shift to a buyer’s market.”

The average price of a condominium in the city of Calgary in August 2010 was $286,384, showing a 2 per cent decrease from July 2010, when the average price was $291,168 and a 1 per cent increase over last year, when the average price was $283,330. 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 August 2010 was $395,000, showing a 1 per cent decrease from July 2010 and August 2009, when the median price was $400,000. The median price of a condominium in August 2010 was $260,000, showing a 3 per cent decrease from July 2010, when the median price was $268,000, and no change from

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.

Condominium new listings in the city of Calgary added for August 2010 were 808, down 9 per cent

“Total month end inventory for the wider Calgary region is down marginally when compared to July—a trend we expect will continue in the coming months.

New listings are also likely to recede in the coming months in response to slowing sales,” adds Scott.

Klump said he expects in Calgary as "headline price increases persist, as I expect they will over the rest of the year and into 2010, that that will draw a lot of the sellers who moved to the sidelines back to the market as well, and that will take some of the pricing pressure off."

In October across Canada, low interest rates and upbeat consumer confidence continued to release the pent-up demand that built late last year and earlier this year, said Dale Ripplinger, CREA president.

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Prices Across The Country

Market Average/Sale Price/Year-Over-Year Change

Toronto $423,507 20.0%

Greater Vancouver $638,948 14.8%

Ottawa $320,561 14.1%

Winnipeg $210,618 10.6%

Montreal $284,024 10.4%

Regina $246,300 5.4%

Halifax-Dartmouth $235,465 4.8%

Calgary $399,679 2.9%

Victoria $481,500 2.6%

Edmonton $318,969 0.4%

Saskatoon $274,759 -3.7%

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Calgary October MLS Sales

Category/October 2009/Year-Over-Year Change

Dollar volume $905.272 million 60.3%

Unit sales 2,265 55.9%

Average price $399,679 2.9%

New listings 3,343 -21.9%