Details Released Regarding the First-Time Buyer Program
To clear up some of the confusion and specify the requirements and guidelines, below are key dates for program role out and points to be aware of:
Important Dates:
- The first date purchases are eligible to qualify for the home buyers incentive are September 2nd. The first closings on the program are November 1st.
- Buyers who purchase property before September 2nd are not eligible for the program, even if the closing happens after September 2nd.
Eligible Buyers:
- First-time buyers must have saved at least the minimum 5% down payment.
- To count as a first-time buyer, client or their spouse cannot have owned a property in the last 4 years. Technically they could have owned a home before to qualify for the program, but not within the past 4 years.
- If a person is going through a divorce or ending a common...
Calgary housing market continues to favour the buyer
So far this year, residential sales year-to-date in Calgary remains just above levels last year due to increases in the attached sector.
Nevertheless, sales activity in November decreased over levels last year, chiefly due to pullbacks in the apartment sector.
While new listings eased relative to sales, causing inventories to ease and oversupply to reduced slightly compared to levels last year.
“Achieving more stable conditions will take time. Sales activity has been settling in at lower levels and is likely being influenced by the economic conditions and uncertainty weighing on our market,” said CREB® chief economist Ann-Marie Lurie.
“While the amount of supply in the market continues to ease, the persistent oversupply continues to weigh on prices.”
Citywide, as of November, the unadjusted benchmark price was $419,100....
City of Calgary Outdoor Rinks
The City of Calgary outdoor skating rinks are seasonal and typically open mid to late December through February. Except for Olympic Plaza which, is generally open from mid-November to mid-March because of its refrigerated ice surface.
Ice conditions, of course, can change with the weather and rinks may close if conditions decline or maintenance is required.
The following outdoor skating rinks are maintained by The City:
...
Honour and Remember
Remembrance Day is a day all Canadians remember the men and women who served and sacrificed for our great country. It is a day we pause, give thanks, and remember.
Since 1931 the Remembrance Day Ceremony has played a significant role in Canadian history. Every year, at the eleventh hour of the eleventh day of the eleventh month, we gather together in our city halls, schools, memorial parks, community halls, workplaces, and our homes. And we take a moment to honour those who have served. During a minute of silence, we acknowledge sacrifices made, remember those who have fallen, and recognize the courage of those who still serve.
Support the Poppy Campaign -...
Homes below $500,000 shifting towards balanced conditions
October sales activity increased by almost 10 percent in comparison to last year, guided by progress in the attached and apartment sectors.
New listings also eased, helping to decrease inventory levels and market oversupply. Although there's a shift towards stable conditions, the market remains oversupplied and prices continued to linger below levels last year.
"Employment has shifted in the city, with job growth occurring in our non-traditional sectors and often at a different pay scale. This is consistent with the shift to more affordable housing product," said CREB®...
Elevated sales guided by affordable product and inventory decline
The third-quarter hustle continues to show signs of growth. Comparable to last quarter, a great deal of the advancement in the market has been guided by supply corrections.
Nonetheless, the housing market has also improved this quarter from solid year-over-year growth in sales activity. A decline in prices has likely supported some of the boosts in demand. Additionally, sales growth has been guided by products priced less than $500,000.
“This is a market with divergent trends. The lower end of the market is recording improving sales and easing supply. This is supporting more stability in prices. However, at the higher end of the market we continue to see slower sales and rising supply,” said CREB® chief economist Ann-Marie Lurie.
“Persistent struggles in the overall economy have caused a shift in salary expectations, along with adjustments...
There's always something to be grateful for... Thanksgiving Day is the perfect time to remind each other of the many reasons there are to be grateful. At this time we catch one's breath to count our blessings. The freedom of this great country of Canada which we live in. For our work colleagues, for their professionalism, inspiration, and sense of humour. The food on our tables, shelter and unconditional love from our family and friends.
When you think of Thanksgiving, what images come to mind for you? The long weekend kicking off the autumn season? Raking leaves and kids having fun playing in them? Harvesting the crops? Shutting down the lake cottage? Eating yummy roast turkey? Pumpkin pie? Watching football on tv with the family? Perhaps watching the Thanksgiving Day...
Purchasing a home is a big decision and a thorough home inspection is absolutely necessary in the buying process. We refer our clients to 
- their objective is two fold: To ensure a quality product for the home buyer, and to assure every client that their new home will provide a safe environment for their family. They are available 24/7 to service the greater Calgary area and to answer any questions, call 587.888.6181 or email them at book@prospections.ca to book your appointment.
What...
Media release: Moving towards balance
Sales activity improved over last year's numbers for the third consecutive month, as year-over-year inventories and new listings eased. This direction is encouraging the housing markets stability.
“Price declines have likely brought some buyers back into the market,” said CREB® chief economist Ann-Marie Lurie, noting improvements in the market continue to be driven by homes priced below $500,000.
Sales improved by 16 per cent this month in the condominium apartment market. Symbolizing the segments best September since 2015. Growth year-to-date in both the apartment and attached sectors were adequate to balance the moderate decrease in the detached sector resulting in sales growth in the city year-to-date of almost one per cent.
The overall market remains oversupplied despite reductions in inventory and improving sales. Continuing to have an influence on prices.
“While...
