First Time Homebuyer Readiness Checklist

Are you ready to buy your first house? You should know the process involved in buying residential real estate can be quite complex and tasking. Seemingly easy decisions could, in fact, make or break your purchase. Before taking the plunge, you should first evaluate your readiness for the long road of home purchase.

How to Choose the Right Residential Neighbourhood

One of the most essential parts of buying real estate is choosing the right neighbourhood for you. There isn’t a single method of knowing the right surroundings; it all depends on what you and your family needs. There are, however, some easy steps that can help get you started on your search for the perfect neighbourhood.

Calgary: A Rising Star in Urban Real Estate

One of the many things that can make a city prosperous is its rate of urban development; it could rake in major commercial real estate investors and residential buyers alike. If you are one of these people, you might find it great news to know that Calgary has been ranked as having one of the most number of high-rise and skyscraper projects in North America today.

Tips on Buying Commercial Property

The decision to purchase commercial property in Calgary must be carefully considered. Here are some tips that can help you land a commercial real estate perfect for your needs.

On Making Your Home Shine Amongst Diamonds

There has been a lot of luxury houses for sale recently, so it might become hard for your house to stand out. However, you can do some adjustments that can help you land the perfect buyer. Here are some tips how to sway buyers into purchasing your home.

Find Your Calgary Dream Home with MLS®

The Canadian housing market is experiencing a boom, evident by the unforeseen increase in prices of Calgary real estate in 2013. Future Calgary homeowners should not fret about these prices, as they can use the MLS® to help them find their dream home at a good price.

Top Locations to Invest in Alberta Real Estate

Investing in real estate is one of the best ways to diversify a portfolio. When time comes to finally cash in on your investment, factors such as security and location play a large factor in determining the resale value of a real estate property. For a clearer idea of what makes a piece of property desirable, here are a few real estate projects that have caught the attention of many Albertans that may give you some ideas:

Mosaic Mirage in McKenzie Towne

This row of condominium townhouses boasts “single and double attached garages surrounding a central courtyard”, as well as two-to-three bedroom floor plans reaching over 1,300 square feet. The site is also in close proximity to High Street, which is home to many business establishments ranging from restaurants to dental practices.

The Park Condos in Calgary

This 19-storey mix of condominium and apartment already shows promise for its naturally appealing location: right between Central Memorial Park and Haultain School Park. It currently features 156 units for sale, which are almost sure to be claimed fast, given The Park Condos' easy access to the 17^th Avenue SW commercial district.

The Guardian by Hon Towers

Located between 11 Avenue Southeast and 3 Street Southeast, the condo-apartment hybrid sports 44 storeys of 321 single and double bedroom suites, with most of the former and all of the latter having their own parking spaces. It has Italian kitchens and bathrooms designed by Laura Vroom Design, as well as amenities like a yoga-Pilates studio.

Hasten Your Home Sale with These Tips

Relocating is never easy and neither is selling your old home to finance the new one. When months pass by without any buyers, consider doing home improvements to make your property more attractive and increase its market value. Where do you begin though?

2014 will be Great for Real Estate in Calgary

Retrospectively, 2013 was a good year for real estate in Calgary. Sales data disclosed by realtors indicate significant sales upsurges from 2012 alone, for single-family units, condominium apartments, and condominium townhouses. Real estate experts are even convinced that this feat can be replicated for the next two years.

In other words, there seems to be no better time to buy real estate in Calgary than now. Many realtors support this, saying that employment growth and migration in the city have augmented, backing the demand for housing, increased sales, and pricing. Others also mention how the city’s economy in 2013 has outperformed almost every other region in Canada in the previous year. With luck, the city may be able to reach the same heights for 2014, thanks to the new influx of jobs and employment opportunities.

Indeed, the job market shows no signs of slowing down and this helps the real estate market to thrive. Realtors also add that companies worldwide have been hiring professionals throughout Canada, and as a result has put Calgary on the map. Despite the calamities that struck the metropolis, residents show a deep sense of community and togetherness. This proves that Calgary is a great place to live in, not only because of its growing economy, but also because of kinship and belongingness.

A Brief Look on Commercial Real Estate in Calgary

Of all the provinces in Canada, Alberta seems to be highly-prized by most real estate investors, either domestic or foreign. One of its cities, Calgary, is even expected by some real estate experts to have an increase in sales for commercial real estate in 2014;

from 3.3 percent last year to 3.4 percent.

Values for commercial real estate in Calgary remain strong as the urban economy maintains its steady advance over the last ten years. Investors continue to establish head offices in the city given its diverse workforce that prizes risk-taking and enterprise. 
 

Calgary commercial real estate listings for various industries also continue to be sought even as property values increase.

For as long as the city sustains its highly integrated transportation and communications systems, Calgary will remain inviting to investors, as well as most Canadians seeking employment and social opportunities.

The boom in commercial real estate and high business start-up rate, however, should give city officials a pause. The tax gap between Calgary proper and the Calgary region can get too wide, and if not reasonably supported, businesses just might take off for more feasible places. Public officials can stand to improve in this area, fairly responding to issues around equitable property and business taxes.

On Calgary Home Prices and Income Bracket

One of the most important matters that many home buyers struggle with is maintaining a monthly payment that doesn’t take a huge chunk out of their income. In booming cities like Calgary, the line between home price and income rate are getting wider and wider as home sales improve as the months pass, resulting in many people looking to resell their property to keep up with expenses.

While figures for median-priced houses for sale in Calgary are trending up, real estate pundits are wary about a widening gap in housing prices and income, which will eventually make it harder for working professionals to own homes. Experts opine that should this trend keep up, people might have to opt for rental instead.

Affordable Calgary homes may have dipped somewhat but overall in Alberta, the province's affordability position hasn't turned people away. For first-time home buyers in Calgary, however, saving for a down payment can increasingly become a difficult barrier. No matter the obstacle though, people with big aspirations will naturally just keep looking for the home of their dreams.

Lending institutions subscribe to two simple affordability rules: First, your housing costs shouldn't go beyond 32% of your gross monthly income. It's called the GDS (gross debt service) ratio. Second, your debt load shouldn't be more than 40% of your gross monthly income. This covers housing costs, car loans, credit card bills, among others, and this is your TDS (total debt service) ratio.

Calgary’s Housing Market Greets 2014 with a Bang

Real estate values and rates are often considered as one of the main contributing factors that determine a community’s economy and in turn, its potential for excellent home purchases that won’t go anywhere near bleeding the prospective homeowner dry of his funds. In this case, there’s little doubt that Calgary, Alberta is definitely one of the “it” places to buy a property this year, finance-wise.

A population surge, notably the in-migration of Ontarians due to the influx of available jobs in Calgary, is driving the city's economy and animating its housing market activity. Reports on Calgary’s real estate market reflects a spike in both sales and home prices—a huge jump compared to last year. Home prices have beefed up because of tight inventory and a close-to-zero vacancy in the rental market.

However, while the prices yield a strong showing in favor of Calgary's housing market, industry trends suggest that if new listings continue to surge relative to sales activity (with demand overwhelming supply), prices will soon to level off after a time. In any case, it won't hurt to “strike while the iron is hot”, as they say. Deal your property aces by getting in the forefront of news and activities through reliable resource channels today.

The Battle of Alberta: Edmonton vs Calgary

The Canadian province of Alberta boasts two highly urbanized areas in Edmonton and Calgary. Outside these two and other small-to-midsized cities across the province, however, the majority of land in Alberta is sparsely populated. This is a good thing for city dwellers who love the outdoors. The Badlands to the north, the eastern oil sands, and the Canadian Rockies on its western border all tend to serve as great weekend getaways.

For many Canadians, the Battle of Alberta refers to the storied rivalry between the sporting teams of Edmonton and Calgary, both at collegiate and professional levels in hockey, football, and recently in lacrosse. In reality, the rivalry between Edmonton, Alberta's capital city and Calgary, its largest city, goes beyond sports. It can be traced back to the expansion of the Canadian Pacific Railway, where initial plans of passing through Edmonton were scrapped in favor of a route via Calgary in the 1880s.

By the time of Alberta's inception and its admission to the Canadian Confederation in 1905, both cities were already prosperous and vying for the position of provincial capital. At present, Edmonton and Calgary are both thriving cultural and economic centers. They continue to attract natives and foreigners alike, making real estate in either of the two cities a much-sought after investment.

CHC: Building Communities, One House at a Time

Although it is one of Canada’s major cities, not everyone who lives in Calgary can afford to live in a decent home. In other countries, housing assistance for the elderly, the disabled, and low-income individuals is offered in the form of vouchers; the Calgary Housing Company (CHC), on the other hand, provides actual housing units. These properties are funded and supported by the local government to help out the less privileged.

The CHC operates and manages about 10,000 housing units for rent, which are primarily intended for low-income families. Unlike some residential properties for sale in the city's real estate market, CHC housing units are guaranteed to be built according to high standards and come complete with basic amenities that some houses lack. The CHC strives not only to provide affordable housing but also to create solid and happy communities.

These things are made possible through the city's support services, especially those related to healthcare and home security. The CHC also encourages tenants to be more proactive by participating in community activities like agency resource fairs, community BBQs, clean-up activities, and seminars. Aside from fostering a sense of community, these activities also aim to educate low-income households about parenting, community engagement, social development, and the like – things that any community should have.

Condo Ownership: A Step Towards Independence

Nothing screams financial independence like owning property. For young professionals, this property will likely come in the form of a condo unit. Most condo units are spacious and comfortable for young, single professionals, giving them a place to call their own. With more and more young people looking to purchase their first condo, here are a few tips you must know before buying a condo unit with your hard-earned money:

As with any real estate property, a condo's location is very important. Is the condo you're considering near that mall you like to frequent? How far is it from your office? These are only a few questions you need to ask yourself when considering a unit. In addition to this, visit the neighborhood of the condo building during different times of the day, both on weekdays and weekends, to get a better feel of the neighborhood you might move in to.

Aside from the price of the condo itself, ask your potential neighbors if there are any homeowner's association dues that need to be paid and how much these dues are (if any). This prevents any surprise expenses when you move in.

Lastly, consider the resale value of the condo. Eventually, you may want to move out of this initial purchase. Try to find out the resale value of the condo or how much money would constitute a fair amount of rent.

Why Invest in Commercial Real Estate

Investing in commercial real estate can provide long-term rewards. Not only does the market continue to thrive, it also generates high income and returns. If you invest in a commercial property, you can benefit from business or capital gains and long-term leases. Unlimited income is also possible if you have a sound business plan.

Compared to residential real estate, there's less competition when it comes to commercial properties. In fact, being overlooked can be advantageous in the long run, most especially if the property is in a promising location.

The value of commercial properties is also dependent on how the revenue is being generated at its location. Even just a small increase in revenue for your commercial investment can already raise the property's value significantly. Investing in commercial property becomes more advantageous especially if the economy is stable or growing.

Closing commercial real estate deals is also easy and less time-consuming thanks to the wide range of financing options available. Apart from the many programs that cater to finance commercial properties, lenders also consider the potential of the property to increase in value before approving a loan. So this is not just about your finances, it's also about guaranteeing that your investment will indeed succeed.

Coordinating a Move with Accurate Real Estate News

Relocating to any major city such as Calgary is a decision that typically takes into account a certain set of variables. Things such as proximity to schools and even the general state of the environment may influence a home buyer’s decision. Of course, chief among these deciding factors is the actual price of the home in question.

The price of a house can either be a stumbling block or an added incentive for a family looking to relocate, so getting an inaccurate or misleading price estimate can be rather unfortunate on the part of the prospective buyer. To ensure that the property prices being quoted are indeed accurate and competitive in relation to local real estate prices, it may be a good idea to consult local news sources for anything related to real estate developments.

Most daily newspapers and news websites post regular updates on real estate trends, but a more convenient option would be to simply look online for relevant information on the local housing market in a particular area. A trusted online news resource can be easily identified through its roster of reporters, and as long as people keep these things in mind, the major move being planned can take place without any hassles.

Understanding How MLS Works

For some people, there's no better time to relocate to Calgary than now, especially with the city being declared as the fifth best city to live in by the Economic Intelligence Unit last August. However, if you and your partner have decided to take a big leap and settle abroad to pursue your lifelong passion, it's best to enlist the services of a real estate broker to sell your current home. With professional help, your house can be listed in a Multiple Listing Service or MLS® System. 

 

A MLS® System is a computerized database of all the real estate properties for sale in the Calgary area or in any other areas that buyers are interested in. By enlisting your property on a MLS® System, you can boost your chances of making a sale compared to solely relying on newspaper or magazine advertisements. However, a MLS® System is not free of charge, and similar to placing adverts on publications, costs may vary depending on how long you wish to keep your house listed.

A MLS® System is also beneficial to homebuyers as it contains all the critical information they need to know, including the property value, size, features, and amenities. Buyers can likewise easily have an idea whether or not a certain property fits within their budget. Likewise, buyers can instantly leave out any property that doesn’t meet their budgetary requirements or other preferences.