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Mayor pitches housing project Mayor Dave Bronconnier will on Monday ask city council to approve a housing incentive program -- including a pilot project offering $25,000 to anyone adding a new secondary suite in Calgary real estate. Bronconnier said the cash incentive, first pitched during his re-election campaign earlier this fall, could help spur construction of secondary suites. “It is an attempt to address the housing crunch,” he said Friday. “We have 3,400 people living on the stre... Read Full Post

CBC (Special) - Canadian investors and homeowners worried about a meltdown in the real estate market here in Canada can relax. The subprime mortgage crisis in the U.S. isn't like to happen up here in the cooler, more fiscally conservative north. The Canadian housing market is not a bubble waiting to burst and owning a home is still a good investment and wealth management strategy, financial experts believe. "You have a bubble situation when there is a lot of speculation and leverage in the ma... Read Full Post

Canadian Association of Accredited Mortgage Professionals survey shows longer amortization and flexible terms keep mortgage industry buoyant TORONTO, Nov. 7 /CNW/ - The vast majority of Canadians (81 per cent) are happy with the terms of their mortgages thanks in large measure to "good interest rates" and longer amortization options, according to a report released today by the Canadian Association of Accredited Mortgage Professionals (CAAMP). Significantly, thirty seven per cent of Canadians ... Read Full Post

CREB, Nov 16 - The Harper government’s decision to cut the GST to 5 per cent, effective January 1, 2008, will significantly improve housing affordability, says the Canadian Home Builders’ Association (CHBA). "This is great news for both home buyers and owners," CHBA President Richard Lind said. "It will help all owners who are considering renovations and all Canadians who make major household purchases." Mr. Lind said that the announcement in Finance Minister Jim Flaherty’s Economic Sta... Read Full Post

Housing starts will reach 227,530 units in 2007, an increase of 0.1 per cent from the 227,395 units in 2006, according to Canada Mortgage and Housing Corporation’s (CMHC) fourth quarter Housing Market Outlook, Canada Edition report. However, in 2008, residential construction will decline to about 214,000 units. Despite this drop, 2008 will mark the seventh consecutive year in which housing starts exceed 200,000 units. “Continuing high employment levels, income gains and low mortgage rates... Read Full Post

REALTORS® look to federal budget to address other issues The tax changes outlined in the federal government’s economic statement are one step in helping Canadians buy a new home, but The Canadian Real Estate Association says the government should include other initiatives in the next federal budget, including the outstanding election promise of addressing capital gains taxes. “The one per cent cut in the GST will provide savings to new home buyers,” says CREA CEO Pierre Beauchamp. For ... Read Full Post

By Joe Samson, Calgary REALTOR® The world is coming to an end! Real estate prices have already dropped $45,000 in Calgary in the last two months and the new royalties will cripple the Alberta economy due to massive project cancellations…. These were some of the headlines you could read in the media in the past weeks. But what is really going on and how is this really going to affect all of us, especially our real estate values in Alberta? A lot of self declared experts are comparing this n... Read Full Post

Selling your house is a bit like raising a child - everyone gives you advice that may or may not be true. Here are 10 myths uncovered: 1. Myth: Always price your home high and gradually lower it if it doesn’t sell. Truth: Pricing too high can be as bad as pricing too low. You may think by listing high you can always accept a lower offer, but if you do, you’ll miss the buyers looking in the price range where your home should be. Offers may not even come in, because interested buyers are sc... Read Full Post

CBC News - Sales in Canada's red-hot real estate market cooled in September, but average prices picked up, according to new figures from the Canadian Real Estate Association. Seasonally adjusted sales last month in 24 major markets fell 3.1 per cent from August to 28,591, CREA said. Sales in the four biggest markets of Toronto, Vancouver, Montreal and Calgary all declined. But the average price of a resale home rose by almost $3,000 to $328,660 — up 11.1 per cent from September last year. P... Read Full Post

CREB Talk, October 19 - Sagging construction will force builders in Calgary to review their year-end estimates, says an industry official. “We were originally budgeted to do more than 600 homes, but we’ll likely have to reduce that by about 100,” says Shane Wenzel, senior vice-president of sales and marketing for Shane Homes. “I think a lot of the others will have to take another look at their numbers.” September was another slow month for single-family builders, says. Work started ... Read Full Post