2 Bedroom 2 Bath 2 Parking Stalls in Xenex!! – $549,900

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$549,900
2 Bedroom, 2 Bath, 2 Parking Stalls
1008 sq ft
MLS# C4003749
Virtual Tour and Floor plan – http://www.pixilink.com/80507

Wonderful opportunity to live in the Award Winning Xenex on 12th! Large 2 bedroom, 2 bath on the unique 3rd floor. The 3rd floor has soaring 11.5 foot high ceilings and is zoned Live/Work! Tall southwest floor to ceiling windows throughout the condo bring in the light and impressive views. The kitchen has stainless steel appliances, granite countertops, and modern cabinetry. The open layout is ideal for entertaining. Bedrooms are on seperate sides of the condo. Building amenities include Central Air-Conditioning, Storage Locker, Underground Visitor Parking and Car Wash Bay. You cannot beat the location in the heart of the Beltline close to shopping, dining, entertainment – Minutes walk to either 17th avenue or downtown. This beautiful suite includes RARE TWO TITLED UNDERGROUND PARKING STALLS!

Real Estate Retirement Plan – How many rental properties required to retire comfortably?

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clockcondo

I love this article from the Real Estate Investment Network which explains how many rental properties, each bringing in passive income, would you need to retire comfortably. The answer is surprisingly not many. The article is also not factoring in any increases in property value – just keeping the same home value for the next 25 years. You end up with quite the amount of equity and a healthy monthly income. Definitely worth the read and considering adding some rental real estate to your investment portfolio:

http://blog.myreinspace.com/2014/01/the-real-estate-retirement-plan-how-many-properties-do-you-need/

 

 

Calgary housing prices have passed their peak in 2007 and continue to Rise

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Calgary Real Estate Market

This past year has been a great one for the Calgary Real estate market. We have seen increased sales and prices and have for the first time, reached where they were in 2007. The average sale price in 2007 was $423,770, and our average sale price in 2012 hit a record $428,655. This first few months of 2013 have been hot for the Calgary real estate market with the average sale price so far in March at $461,427. The increase is due in part to a shortage of listings on the market, which are down 20% from this time last year. Many of my clients can attest to, if it is priced properly and is a nice home or condo, it will be sold quick. The average days on market for a listing is way down to 35 days.

RBC is predicting that Alberta will lead the country in economic growth over 2013 and 2014. With many new jobs being created in Calgary, there are also many new people moving to Calgary, all needing a place to live. This will help keep the rental and housing market increasing for the next few years. Combine this with low interest rates which are predicted to stay very close to where they are for the next few years, we will see continued growth in the Calgary real estate market.

If this is your time to finally get into the Calgary Real Estate market and would like to purchase a home or condo, give me a shout. I would love to help you and answer any questions you may have.

The following are MLS sales and the average sale prices for all properties in Calgary in the past few years:

2012 — 21,207, $428,655

2011 — 18,496, $414,391

2010 — 17,218, $409,885

2009 — 20,669, $394,064

2008 — 19,084, $413,293

2007 — 26,611, $423,770

2006 — 27,426, $358,326

2005 — 26,833, $256,327

2004 — 22,842, $227,269

2003 — 21,062, $215,838

2002 — 21,544, $203,203

2001 — 19,535, $186,586

2000 — 17,211, $180,420

 

 

 

 

Congratulations at Spruce Meadows!

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Claire_RossRealEstate- Cropped

A big congratulations to the Ross Real Estate sponsored Granden My Hand and his rider Claire Reid for their great performance at Spruce Meadows! Granden and Claire came in 5th out of 48 jumpers. Jumping at a height of 0.8 meters, their top time and number one spot held through the next 30 jumpers, and in the end came in 5th. Great showing and all the best in your upcoming competitions.

Here is the video of their great run!

Calgary best performing real estate market in Canada

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condo
Highest year-over-year MLS sales growth as national market plunges

By Mario Toneguzzi, Calgary Herald January 15, 2013

CALGARY — Calgary was the only major Canadian market to see a year-over-year rise in MLS residential sales in December as the national market plunged and the city finished 2012 with the best annual sales growth in the country, according to the Canadian Real Estate Association.

In releasing a report Tuesday, the association’s data indicated Calgary MLS sales in December of 1,343 were up 7.2 per cent from December 2011 while Canada saw a decline of 17.4 per cent to 20,538 sales.

The average sale price in Calgary in December rose by 6.9 per cent from last year to $419,811 while Canada’s average jumped by 1.6 per cent to $352,787.

On an annual basis, Calgary sales of 26,634 were up 18.6 per cent year-over-year while they fell by 1.1 per cent throughout the country to 453,372.

The average annual sale price in Calgary rose by 2.3 per cent to $412,315 in 2012. It was up by 0.3 per cent in Canada to $363,740.
“Calgary bucked the national trend in 2012 as the market began to come alive, while others began to enter a long sleep. This occurred because of two main influences,” said Don Campbell, senior analyst and founding partner of the Real Estate Investment Network. “Over the previous three years, Calgary had not over-performed its underlying economic fundamentals like many other major markets across the country, especially Toronto and Vancouver. A lack of new housing being poured into the market also helped to keep the average sale price in check.

“Population growth in Alberta neared a record high in 2012 as many moved here to take advantage of the job growth. This expansion of the number of citizens who call Calgary home, whether temporarily or permanently, put upward pressure on the rental market in the city. This increase in (rents) pushed many into the purchase market and therefore began the upward demand on the home-purchase market. This trend will continue, and inevitably get stronger, in 2013.”

Calgary’s market is showing no signs of letting up in January. According to the Calgary Real Estate Board, month-to-date from January 1-14, there have been 375 MLS sales in the city, up 9.97 per cent from the same period last year while the average sale price has jumped by 11.75 per cent to $428,063.
“A reason why the resale market in Calgary outperformed many other areas in Canada is largely rooted in the relative strength of our economy,” said Richard Cho, senior market analyst in Calgary for Canada Mortgage and Housing Corp. “The economy in Calgary has grown along with the labour market. Many have been able to find full-time employment, see their incomes grow and take advantage of low mortgage rates. Migration to the region has also helped support housing demand.”
In December, sales in Alberta fell by 1.9 per cent to 2,855 transactions and the average sale price went up by 4.8 per cent to $363,340. Over the year, sales in Alberta in 2012 rose by 12.3 per cent, the highest of any province, and the average sale price increased by 2.8 per cent to $363,208.

CREA’s Home Price Index in December, of seven major Canadian markets, saw the average benchmark price increase by 3.32 per cent in Canada. Regina led the country with 10.53 per cent growth followed by Calgary at 7.37 per cent.
“Similar to what we saw in September, December sales had fewer business days compared to the same month last year and most other years,” said Gregory Klump, CREA’s chief economist, about the national picture. “It factored into December’s year-over-year decline in sales activity.”
But he also said that “successive rounds of tightening mortgage regulations have kept the housing market in check during what has become an extended low interest rate environment.”
Sonya Gulati, senior economist with TD Economics, described 2012 as a lacklustre year for the Canadian housing market.
“With the whopping 17.4 per cent year-over-year change in sales seen in December, we suspect that the impacts from the mortgage rule tightening in July are now fully priced in,” she said. “We expect the Canadian housing market to stabilize at current levels over the next few months. When looking at previous mortgage rule tightening episodes, the housing market impacts have been temporary in nature. There is no reason to think that this time will be any different.”

Benjamin Reitzes, senior economist with BMO Capital Markets, said the Canadian housing market continues to cool.
“While some will focus on the deep dive in sales from a year ago, it looks as though prices are providing a better read on the health of the sector, as homeowners are in no rush sell,” he said. “Prices are easing gently, consistent with a soft landing through much of the country.”

Original Article – Calgary Herald – January 15, 2013

 

Merry Christmas!

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Ross Real Estate would like to wish you and your family the happiest of holidays filling your home full of joy. Thank you everyone for your support over the past year!

 

 

The Bachelor Canada House

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I know all of you will be glued to your TV sets tonight to see who the Bachelor finally picks, so here is some more information about the real star of the show. Yes, the Bachelorette Mansion where all the contestants have been living, as well as hosting those infamous rose ceremonies.

This beautiful home is located just outside of Victoria, BC at the golf resort development of Bear Mountain. The home was recently listed on the market for $13.9 million dollars back in January, but has since been reduced to a more reasonable $9.99 million. The home was built by, and was the personal home of ex-NHLer and developer / President of the Bear Mountain resort Len Barrie.  HSBC Bank foreclosed on the property back in January.

The home is an impressive 13,500 square feet with 6 bedrooms and 10 bathrooms and is opulently finished. Enter through the long winding gated stone driveway up to the home. The home’s mountain-top location on bear mountain offers panoramic views of the ocean and surrounding mountains. The home sits on 1.33 acres and has a stunning infinity pool, outdoor kitchen and fireplace, and hot tub grotto.

 

 

Calgary top real estate investment market in Canada

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By Mario Toneguzzi, Calgary Herald – November 12, 2012 

Calgary has been ranked as the top real estate investment market in the country followed by Edmonton by the Real Estate Investment Network Ltd.

In its Top Alberta Investment Towns report, REIN said that Alberta’s economy has come out on top after a few years of economic turbulence.

The report identifies towns and regions poised to outperform other regions of the province over the next three to five years.

And none is better than Calgary.

“After a couple of roller-coaster years, Calgary is back on a roll. The return of jobs to the city, as well as greatly reduced office vacancy rates show us that the city’s short slump has come to an end,” said the report. “Recording a GDP growth of three per cent in 2011, and one of the lowest unemployment rates in the country, it’s no wonder Calgary is sitting as one of the top places in North America for property investors. When you combine the economic fundamentals, the population growth, and a burgeoning provincial economy, it is easy to see why so many businesses and people have come to call the city home.

“The market is hot. With the pressure on the resale housing market, there is similar pressure on the rental market. Inventory has dropped for rental accommodations while monthly rents have increased. Real estate investors and real estate agents are reporting that rental listings are being pounced on. Savvy investors purchasing units and advertising them for rent upon close are receiving calls from anxious tenants wanting to see the unit before the investor has possession and/or has done any improvements to the property. Rental sites are reporting difficulty in compiling statistics become some communities have nothing for rent.”

REIN said housing affordability will begin to be an issue in Calgary, with rents increasing and a high average sale price. But when you look at that price versus average income it shows that other cities in Canada have a much larger problem on their hands.

“Calgary has the long-term economics to support long-term market strength while other cities do not,” said REIN.

The Top Alberta Investment Towns ranked in order are: Calgary, Edmonton, Airdrie, Red Deer, St. Albert, Fort McMurray, Lethbridge, Grande Prairie, Okotoks, Leduc, Sylvan Lake and Lacombe.

The report said Airdrie has been one of the fastest growing communities in the province.

“Its proximity to the economic engine of Calgary and the growth of the surrounding economy will push the physical and economic growth limits of the city in the next decade,” said REIN.

“With increasingly easy access to many areas of Calgary via the ring road as well as the growth of job centres in and around the city, Airdrie property owners should continue to feel upward pressure on both rents as well as home prices. As affordable housing becomes a growing problem in Calgary, Airdrie will benefit from lower average house prices. As the office centre of the west, Calgary may offer employment opportunities that Airdrie does not, but much of the labour force will turn to Airdrie as a place to call home.”

REIN’s top Canadian investment cities ranked in order are: Calgary, Edmonton, Hamilton, Surrey, Maple Ridge and Pitt Meadows, Airdrie, Kitchener and Cambridge, Red Deer, St. Albert, Waterloo, Winnipeg, Saskatoon, and Halifax.

According to a research note by Scotia Economics, Alberta remains a key economic engine for Canada, with the highest provincial real GDP growth rate forecast for 2012 and 2013 at 3.4 per cent and 3.0 per cent respectively.

“The economy is growing strongly with contributions from consumer spending, business investment, particularly in the oilsands, and exports, which is encouraging given the strong Canadian dollar and soft global demand,” it said. “Provincial government spending also will continue to support growth, albeit at a slower pace than over the decade prior to the recession.”

In the second quarter of 2012, Alberta had a year-over-year population growth rate of 2.5 per cnet, the highest in the country.

“At this juncture, the federal government’s recent tightening of mortgage and home equity financing standards appears to have had a limited impact on Alberta’s housing market,” said Scotia Economics. “It continues to be supported by strong employment growth, significant wage gains and ongoing resource development.”

Original Source Article: http://www.calgaryherald.com/business/Calgary+real+estate+investment+market+Canada/7534574/story.html

Welcome to Calgary!

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With all the hiring going on by the oil companies, there are quite a few new residents moving to Calgary. So I thought I should provide a video about what Calgary is all about created by our tourism board. Many of these 50’s and 60’s bungalows are still around and on the market today!

Calgary housing market on verge of seller’s territory

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A research note by BMO suggests that Calgary’s housing market is on the verge of being classified seller’s territory.
Right now, BMO says the local market is balanced.
The bank’s research note says average prices over a three-month period are up 1.2 per cent from last year while sales of existing homes are up 19.1 per cent.
The sales to new listings ratio is 66.7 per cent while the price to family income ratio is 4.1.
Calgary Herald, October 16, 2012 – Mario Toneguzzi
http://blogs.calgaryherald.com/2012/10/16/calgary-housing-market-on-verge-of-sellers-territory/?utm_medium=referral&utm_source=pulsenews

Firm oil prices to keep Calgary housing market healthy

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Here is an article which describes how closely tied the Calgary Real Estate market is to the price of oil. We boom and bust along with the global oil market. In this article they forecast a strong upcoming market for real estate in Calgary due to the continued hiring by oil and gas companies.

Calgary Herald, October 11, 2012 – Mario Toneguzzi 

Firm oil prices should keep Calgary’s economy and housing market healthy this year and next, although risks remain, according to a housing market report released Thursday by the Conference Board of Canada.

“The main risk to Calgary’s economy and, in turn, its housing market is the prospect of a global economic slowdown,” said Robin Wiebe, senior economist with the Centre for Municipal Studies with the board, who authored the report. “Oil prices move closely with International Monetary Fund estimates of world economic GDP. IMF forecasts of decent global growth are positive for Calgary’s economy and housing markets, but U.S. recession, greater-than expected slowing in China or an economic meltdown in Europe could rapidly sour this outlook. For now, though, this oil-greased market is sliding decently.”

Wiebe said Calgary’s oil-fuelled economy and housing market are recovering from the 2008-2009 recession that featured a short-term plunge in oil prices.

In June 2008, the price of a barrel of West Texas Intermediate, a benchmark oil grade, exceeded US$ 130, twice its year-earlier level and a tenfold increase from a decade earlier. In line with this rapid expansion in oil prices, Calgary’s Gross Domestic Product expanded 24 per cent between 2003 and 2008, said the report.

“For most of this timeframe, the unemployment rate was unsustainably low, hovering around three to 3.5 per cent. The population surged 16 per cent between 2003 and 2008, roughly three per cent annually, as newcomers flocked to benefit from Calgary’s beckoning job market. Demand for accommodation soared. Housing starts exceeded 17,000 units in 2006, almost twice the 20-year average, and resale prices roughly doubled between 2003 and 2007,” added the report.

But the global recession hit and the oil boom ended dropping the price of oil to below US$ 40 a barrel by February 2009.

“Fallout from this collapse included sagging employment in 2009 and 2010, a five per cent drop in real personal income per capita in 2009 and a record 4.1 per cent drop in Calgary’s GDP that same year. Slowing population growth slashed residential demand. The housing market’s exuberant fiesta left a nasty hangover. Monthly average resale prices fell an average of 10 per cent on a year-over-year basis in the six months ending May 2009 and the level of housing starts in 2009 was barely a third of the 2006 peak,” explained the report.

But Wiebe said the energy sector has rebounded and oil prices are expected to increase in 2013.

“As should be expected, the rebound in oil prices brought new life to the Calgary economy. Its GDP rose five per cent last year, spurring a three per cent employment gain after two years of losses. Population growth is forecast to hit a three-year high of 2.5 per cent in 2012 after dropping to a 16-year low in 2010,” he said.

“Still, the recovery in housing markets has been fitful. Weighed down by high inventories, both new and resale markets struggled in 2009 and 2010. But both markets have since shown signs of improvements. Resale transactions rose seven per cent last year and appear set for a double-digit gain this year, although the level of activity will not be anywhere near boom-era levels.

“This strong increase in sales has lifted the sales-to-active listing ratio significantly, a sign that the existing home market has become tighter. For now, it remains in a balanced position, with year-over-year price growth averaging a modest two per cent over the past six months. But we expect price growth to accelerate, in line with our anticipation of continued increases in sales.”

The report said the market for new homes is also looking up, driven by surging starts of multi-family units.

“Through July 2012, multiple starts were already triple their 2009 trough but still well off the 2008 peak. Single starts have been more uneven, rising in both 2009 and 2010, before pulling back in 2011. Still, year-to June volumes were up a healthy 20 per cent from a year earlier,” it said.

“The new construction market is demographically secure, thanks to healthy population advances. The ratio of total housing starts to population growth has been near its 20-year average in each of the last two years, after trailing it in both 2008 and 2009. The tighter resale market also bodes well for housing starts next year.”

Meanwhile, new home prices in the Calgary census metropolitan area in August rose by 2.4 per cent compared with a year ago, reported Statistics Canada on Thursday.

The federal agency said the New Housing Price Index also increased by 0.3 per cent from July in the Calgary region.

At the national level, the NHPI was up 0.2 per cent on a monthly basis and by 2.4 per cent year-over-year.

Original Article: http://www.calgaryherald.com/business/Firm+prices+keep+Calgary+housing+market+healthy/7374040/story.html#ixzz29OuGFF3G

6th and 10th Condos Sales Center Grand Opening

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For any clients that have been waiting to scoop up a suite in the new 6th and 10th Condos, the grand opening of the sales center is this Saturday, September 8. I am certain there will be line-ups and the best suites will sell quick. Contact me for the special bonuses for buyers that purchase at the Grand Opening. 6th and 10th is being built by Toronto developer Brad J. Lamb, and is his first development out west after building many stunning buildings in Toronto and Ottawa. There are 230 suites with a large variety of 1 and 2 bedroom layouts, some with den. Condos start in the low $200,000.  If you are thinking about buying in this building, give me a shout and I will help you with your purchase in this incredible new development.

Here is some more information on this 31 story addition to Calgary’s skyline. http://6thandtenth.com

Average house prices in Calgary to jump by $20,000 in next 2 years

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Number of sales are also going to increase in the next 2 years.

The average MLS residential sale price in the Calgary region will climb by more than $20,000 over the next two years, according to Canada Mortgage and Housing Corp. In its third quarter 2012 Housing Market Outlook, released Tuesday, the CMHC said the average MLS sale price in the Calgary census metropolitan area will jump from $402,851 in 2011 to $413,000 this year and then to $424,000 in 2013.

The report also said MLS sales in the Calgary CMA will increase from 22,466 in 2011 to 25,200 this year and 25,800 next year.And housing starts in the region will rise from 9,292 in 2011 to 12,000 this year but fall back to 11,700 in 2013.

The economy in Calgary has improved compared to the previous year and the trends that we have seen thus far are expected to continue in the months ahead,” said Richard Cho, senior market analyst in Calgary for the CMHC. “Job growth, relatively low mortgage rates and higher average earnings will all contribute to housing demand. Net migration will also be a key contributor and we have already seen some encouraging numbers at the provincial and city levels.

“Whenever we have an influx of people move to a region, naturally they are going to look for a place to live. Some will look to the rental market while others may choose to buy an existing home or build a new one. Housing demand this year will be supported by a number of different fronts.”

Cho said the resale market has moved into more balanced levels this year and that is supporting price growth. “Supply in the existing home market has declined from the previous year while sales have increased,” he added.

In Alberta, economic growth and job creation are supporting housing demand, said the CMHC. By year-end, single-detached starts are projected to reach 17,600 units, up over 15 per cent from 2011. In 2013, single-detached starts will rise five per cent to 18,400 units. “Existing homeowners will see the value of their property rise and this will help with move-up buying,” said the agency.

Multi-family starts will increase by 35 per cent in 2012 to 14,200 units. To reduce the risk of rising inventory in the next few years, developers will moderate multi-family starts in 2013 to 13,800 units, it said.

“In Alberta’s resale market, MLS sales will increase by 11 per cent to 59,800 units in 2012. In 2013, resale transactions in Alberta are forecast to increase to 61,000 units. MLS sales in Alberta will rise this year and next year, as employment and income growth provide the means to purchase,” said the report.

“With a transition to balanced market conditions unfolding, expect price growth to increase over the forecast period. The average resale price in Alberta is projected to rise by 2.5 per cent in 2012 to $362,200, and nearly three per cent to $372,300 in 2013. Both of Alberta’s largest markets, Calgary and Edmonton, have experienced improved market balance this year.”

Original Source Article by Mario Toneguzzi – Calgary Herald, August 14 2012.

 

Inside Frank Sinatra’s Manhattan penthouse on the market for $7.7 million

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Although most of the rat pack era styling has been renovated out of this 3000 square foot Manhattan penthouse, it still has the Frank Sinatra coolness factor. I’m not a fan of the conversion of Sinatra’s 2 story glassed party room with wrap-around 2000 square foot terrace into the master bedroom. The condo is spread over the 22nd and 23rd floors and has four bedrooms and six bathrooms.

Here is the article from the Daily Mail  – 5 August 2012 :
It was the setting for many a wild party, even attracting the likes of President John F Kennedy, screen siren Marilyn Monroe and avant garde artist Andy Warhol. Now the Manhattan penthouse once belonging to crooner Frank Sinatra can be yours – for a cool $7.7 million.
The sprawling 3,000 sq ft apartment – on New York’s East 72nd street, is to go on sale – but these days it looks quite a bit different. The apartment has been modernised, but it is still set up for someone with that Rat Pack mentality,’ Jason Haber, a broker for the property, which goes on the market this week. ‘It is really for someone who wants to entertain, to have people over, to have dinner parties.’
The sprawling unit was once called the ‘glittering grotto in the sky’ by Andy Warhol and it was the setting for many a swinging soiree.
After divorcing second wife Ava Gardner in 1957, Sinatra snapped up the duplex, which occupies the 22nd and 23rd floors, and the space was transformed into a four-bedroom, six-bathroom apartment worthy of the Rat Pack. Ol’ Blue Eyes helped to design the riverside pad and construction was completed in 1961. Sinatra called it home until 1972.
While arguably the ultimate bachelor pad, Sinatra met, married and then divorced Mia Farrow while living there.
The jewel in the penthouse’s crown was a glassed-in, rooftop party room where guests would mingle under 18-foot ceilings and enjoy sweeping views of the East River. Another drawcard is the two wraparound terraces totaling 2,000 sq ft.
His star-studded guestlist often included fellow Rat Packers Dean Martin, Sammy Davis Jr, Peter Lawford and Joey Bishop. It is even claimed that Davis used to enjoy throwing champagne glasses from the terrace onto the street. One party included appearances from President John F Kennedy, Hollywood siren Marilyn Monroe and avant garde artist Andy Warhol. He also used the large party space to work on his vocals when he wasn’t entertaining, Haber added.
The singer sold the apartment in 1972 to his personal physician, celebrity doctor Denton Cox, whose other clients included Judy Garland and Warhol. When Cox died his estate was sold to insurance magnate Penny Hart in 2008 for $4.5 million. Because Cox had done very little to maintain the penthouse, Hart made many renovations and turned a section of Sinatra’s legendary party space into the master bedroom.

For more photos and original article: http://www.dailymail.co.uk/news/article-2183957/Frank-Sinatras-Manhattan-penthouse-goes-sale-7-7m.html

Calgary housing boom predicted

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Here is an article from the Calgary Sun predicting what we all know is coming – we are seeing the start of another Calgary Real Estate boom. The city of Calgary released their census yesterday showing an increase in population to 1,120,225 residents and growing every day. An interesting statistic that came out of the census is the increased population growth taking place in older established neighborhoods. This is due to higher density condominium development that is taking place in the inner city. All these new Calgarians need a place to live which increases the demand for homes and condos in the city. As many of my buyer’s have seen in the last few months, there is not much on the market, and good properties that are priced right are selling within days.

Calgary’s housing boom is back with a new forecast predicting a 25% jump in housing starts this year and climbing prices, with growth fuelled by a red-hot economy. The Canada Mortgage and Housing Corporation (CMHC) is forecasting a 24.8% increase in new homes being built this year, soaring from 9,292 units in 2011 to a projected 11,600 in 2012.

The corporation is also expecting the average home price to go up from $402,851 in 2011 to $410,000 this year and another increase in 2013 to $420,000. Richard Cho, a senior analyst with CMHC, said apartment-style housing is seeing the largest gains in new construction. “Improved job creation, rising incomes, increased net migration and low mortgage rates will support housing demand in 2012 and in the following year,” he said. Calgary is seeing plenty of job growth because it’s home to energy companies and other businesses related to the industry, Cho said. The analyst noted last year the housing market was more in favour of the buyer. “This year, we’re seeing active listings trending lower as the price of sales is rising,” he said. “The market is more balanced compared to what we saw last year and so we’re expecting to see more new homes being started and more resales.”

Bob Jablonski, president of the Calgary Real Estate Board (CREB), said the spike in numbers is good news for the market. “It seems steady sales are happening, good activity going, and there’s a high consumer confidence out there,” he said. “The market activity is good, it’s been good all year and it’s getting better.” Jablonski said CREB’s forecast is usually much more conservative than CMHC. The real estate board’s forecast in January indicated housing starts in Calgary for 2012 would be closer to 9,400, a minor jump from 2011 and significantly lower than CMHC’s prediction. However, CREB’s prediction for an increase in average housing price is 2%, a tad higher than CMCH’s 1.8%. Jablonski said they’re going to update their own figures in August. 

Ald. Gian-Carlo Carra said it’s not surprising the housing boom is starting again in Calgary. “I think everyone is expecting that to be the case — that’s not necessarily a bad thing, it’s actually a good thing but there are challenges associated with it,” he said. The inner city alderman said the city needs to make sure that there’s a broad supply of housing options for everyone. “I remain completely bitterly disappointed that council was not more progressive in its approach to secondary suites,” he said. Carra said as housing prices increase and the supply shrinks, secondary suites are a good way to give owners another source of income and renters an affordable accommodation option.

BY RENATO GANDIA ,CALGARY SUN –  JUNE 14, 2012