A beautiful character home nestled in Bridgeland Calgary. This turn of the century gem features warm neutral colours, and boasts many original features including a stained glass window, claw foot tub and tons of beautifully handcrafted woodwork throughout. Main level has 9′ ceilings, renovated kitchen with granite countertops, dining room with bay window, living room with gorgeous wainscoting. The SW corner of your home opens through a set of double french doors onto a spacious deck and out to a good sized south facing yard. The historic staircase leads upstairs to 2 nice bedrooms, with a vaulted ceiling in the master, an elegant 4 piece bathroom with claw foot tub, plus a den/office that opens onto a private balcony with great views. The basement has been upgraded to include a flex/workout room with laundry. A large inner city lot with beautiful annual flower gardens along with a fire pit and single garage complete this inner city package. A must see home.

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For years CREB (The Calgary Real Estate Board for those of you who do not know) have been marking sales as “Pending” or “Conditionally Sold” when an offer was accepted. The practice has been to mark the listing as pending in the system and not continuing with marketing the property  to potential buyers.

Just this past December CREB decided that they would now provide sellers with a choice when they are in a conditionally sold status with a willing buyer. ( almost all listings are conditionally sold before they become firm to allow buyers to satisfy a home inspection or financing condition. )

Like any change there is a time frame if adjustment and with changes brings comments about whether it is positive or not. It is my opinion that there are pros and cons to this new ruling and I see them as follows:

Sellers Pros
One of the most positive outcomes from this rule is that sellers can continue to market their property even while a conditional offer is accepted. They may even be successful in obtaining a backup offer which can help solidify the fact that the house will soon go into firm status with one buyer or the other.

If sellers prefer to take a break from marketing and showings during their conditional status, it is now their choice one way or the other.

Sellers Cons
One of the positive aspects of a pending sale that falls through is that when marked in the system from pending to active status again, it may create excitement to potential buyers as they are happy to see it return to the market when it prospects back out to potential buyers.

Buyers Cons
In some instances buyers may be interested in a home only to find out that another buyer has a conditional sale on the home of their dreams. This can be avoided though by using an experienced real estate agent that keeps up with current real estate practices. This only solidifies the need to acquire the services of the best agent you can find to act on your behalf to ensure you only view properties that do not have conditional offers on them.

There will be some pressure on buyers to proceed with removal of conditions if there is other interest. This could be negative as if there are issues with home inspections interest from other potential buyers may make the seller unwilling to remedy the current offer.

Calgary Real Estate November 2011 Monthly Housing Statistics

1. The buyer would have to be satisfied with the home inspection
2. Home inspection defects revealed could not exceed 1% of purchase price
3. Home inspection defeats revealed could not exceed a pre-determined amount agreed to by both the buyer and seller.

The defects of the home of course would not include any items deemed cosmetic and be limited to structural mechanical or electrical issues in order for the buyer to be in a position to break the contract. Not many sellers would allow for option 1 to be accepted so that left the buyer with less options. The schedule also indicated that the buyer would have to hire a professional home inspection company, which some buyers do not want to hire a professional if they happened to have a qualified family member or friend. The sellers should not have the power to dictate who the buyer can and should use for their inspection.

Now that our market has changed its course again and now favours buyers, the rules have reverted back to the way we did things pre 2005. Offers are now conditional to the buyers satisfaction of a home inspection. Definately safer for buyers but is it the best decision?

What I am now seeing is that the buyers are more picky when it comes to fixes on homes. Indeed an older home will have some maintenance and issues and a typical inspection should not reveal a significant amount of work or likely pricey needs to be renegotiated after the inspection if the repairs are numerous and pricey. But what I am seeing is small things that are coming to the forefront of the equation and buyers are demanding minor fixes to be taken care of in order to remove their conditions. In my opinion if you are gonna buy a house, be prepared from some minor fixes, you will have to do them yourself as you maintain your house over the years, it is expected.

Sales to date are up about 8% over the last 10 months from sales the same period lat year. The biggest increases (over 61% ) were seen in more established communities. Nearly half of the communities recorded average price increases. We can contribute the increase in sales to the boost in job creation we have seen throughout the year. Buyers are of course taking their time to find the right home but are generally feeling more confidence in the Calgary real estate market. A slight increase in average price of only 2% could also be skewed a bit by some higher end homes being sold and bringing the average price up. Generally speaking prices are quite balanced and sellers need to be realistic now more than ever when pricing their homes for sale because buyers have a good selection of choice.

Calgary Real Estate October 2011 Monthly Housing Statistics

Well maintained and excellently located bi-level in a quiet crescent in Shawnessy. Close to schools, transit shopping and more. Main floor offers vaulted ceilings with a living room/ dining room concept. Island kitchen with ample storage and counter space, open to den/ family room which could easy be converted to 2nd bedroom. King sized master bedroom with a large ensuite and an abundance of closet space. The lower level is completely finished (updated recently) with large open style family room space and new gas fireplace, there are 2 more bedrooms and full bathroom/laundry room. ** NOTE** This home has a new roof as the shingles are just being replaced.

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]]> http://www.calgarylistings.com/82-shawbrooke-cr-shawnessy-mls-c3499001/feed 0 http://www.calgarylistings.com/305-280-shawville-way-se http://www.calgarylistings.com/305-280-shawville-way-se#comments Tue, 01 Nov 2011 15:10:53 +0000 Crystal http://www.calgarylistings.com/?p=3733 Read More]]> Spacious 2 bed 2 bath condo in desirable location with C-Train and shopping complex at your door step. Freshly painted in soft designer tones with new laminate flooring, this home is ready for you! Walk in to your large kitchen with breakfast nook with an open concept kitchen to your living room with cozy fireplace. Large master bedroom with ensuite. Large 2nd bedroom for guests is currently a TV room and den.

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Sales gain momentum in the first three quarters of 2011

Calgary, October 3, 2011 “ According to figures released today by CREB® (Calgary Real Estate Board), residential sales continued to gain momentum in Calgary this year, totaling 14,832 after the first three quarters, a seven per cent per cent rise over last year.

Despite recent turmoil in the global economy, Calgarians are showing confidence in the long term prospects for the city and are taking advantage of affordable and stable home prices, says Bob Jablonski, president-elect of CREB®.

Undoubtedly, there are a lot of unknowns in the worlds current financial situation, but Calgary and Alberta may be relatively safe havens amidst this uncertainty. Granted, gains in the housing market have been very gradual but we are seeing signs of improvement. Our provinces growth is expected to outperform the national average, and this will help buoy consumer confidence in Calgary and Alberta.

Single family home sales totaled 1,036 for the month of September, 2011, an eight per cent increase over last September. Year-to-date sales totaled 10,518 units a 10 per cent increase over last year. Monthly gains in listings brings inventory to 4,753 units, a level still lower than the previous year.

Clearly there is a market for well priced listings. In particular, we are seeing strength in detached single family home sales. Relative affordability in this market has meant these homes are selling faster than condominiums and townhouses, says Jablonski.

And single family homes are selling closer to asking price”suggesting that homes will move in this market, when priced right,  added Jablonski.

The average price of single family homes for the month of September, 2011 was $466,167, while the median price was $400,000. Jablonski indicated that while prices have marginally improved compared to September 2010 figures, on a year-to-date bases both the average price and median price have remained relatively stable.

After the first three quarters of this year, condominium sales totaled 4,314, a two per cent rise over the same period last year. While the increase is modest, it is a move in the right direction, noted Jablonski, adding that a boost in condominium sales, along with a lower number of listings is helping to tighten this market. At the end of September, 2011, condominium inventories totaled 2,008 units compared to 2,204 units recorded in September 2010.

Average condominium prices reached $299,508 in September, 2011, appearing to record a significant increase. However, the increase in price is not caused by a general price rise, but has been pushed up by a $4 million plus sale. In fact, both the median price of $260,000 and the year-to-date figures continue to trend lower than figures recorded last year.

The recent news of financial turmoil may be a shot across the bow for the world economy, but Calgary and Alberta are relatively safe harbours in the storm,” concludes Jablonski.

Calgary continues to add full-time jobs to the economy, and migration is moving in the right direction. These are positive factors that will give momentum to our housing market and give wind to the sails of Calgarys economy.

Calgary Real Estate September 2011 Monthly Housing Statistics