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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. Prices were up year over year in every major market except Thunder Bay, Ont., where they were 0.9 per cent lower. The big price increases in Saskatoon, Edmonton and Calgary showed some signs of easing. Saskatoon's average resale home sold for $242,091 in… 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 on 697 homes, down more than 18 per cent from the 854 started in the same month a year ago. The 6,114 starts recorded for the first nine months of this year are well off last year’s record pace of 8,304.  “Single-detached starts during the last three months of this year are… Read Full Post

Calgary Metro Area Single Family Statistics   New Listings Last 24 hrs: 103 Active Listings: 5,553 Sold, Last 30 Days: 1,111 Avg Sale Price, Last 30 Days: $ 464,556 Median Sale Price Last 30 Days: $ 420,000
** The Calgary Real Estate Board cautions that an average price does not indicate the actual value of any particular property. Those requiring specific information on property values should contact a REALTOR**

 

Posted by www.JoeSamson.com

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The Real Estate Council of Alberta (RECA) - Mortgage fraud is increasingly widespread and complex and its consequences can be devastating. It is a criminal offence, and in Alberta several individuals have been charged with mortgage fraud by the RCMP. Participation in mortgage fraud is contrary to the Real Estate Act Rules, and industry members who breach the Rules face strong sanctions, including suspension or cancellation of their authorization.
All industry professionals – whether they are appraisers, real estate associates, or mortgage brokers – must play an active role in preventing mortgage fraud by identifying suspicious deals, notifying the authorities, and assisting in investigation of parties involved. The following information is designed to…

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CREB Talk, October 12 - What a difference a year makes in Calgary’s new home market last year, the rate of growth in new house prices peaked at a stunning 60.6 per cent year-over-year hike in August.

On Thursday, Statistics Canada, in releasing its New Housing Price Index, said the Calgary Census Metropolitan Area recorded a more down-to-earth 6.1 per cent increase from August 2006 to August 2007 - behind the 6.5 per cent average increase for the country.

The Calgary CMA includes the city, Airdrie, the Municipal District of Rocky View, Chestermere, Cochrane, Irricana, Beiseker and

Crossfield.

Statistics Canada said new house prices remained the same in the Calgary area in August compared with July while nationally the prices rose by an average of…

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North American & International Economic Highlights - It seems that Mr Dodge is not a fan of mortgage innovation. In recent comments he warned that they help overheat the Canadian real estate market. And who can blame him given the experience south of the border? In the eyes of many, the meltdown of the US subprime market has painted the mortgage market in black and white: Plain vanilla mortgages—good, all the rest—bad.

It’s true that the surge in exotic mortgages since 2004 created an artificial demand in the housing market south of the border, and was primarily behind the current mess in the subprime space. A sharp deterioration in underwriting standards in those years and extremely easy ways of passing on the risks were the main catalysts there.… Read Full Post

Best Times to Buy & Sell Real Estate!

By Joe Samson, Calgary REALTOR®

Properly timing the sale of your home could mean tens of thousands of extra dollars in your pockets. Real estate, like many industries has cyclical periods that could have serious effects on buyers and sellers. As strange as it may sound, you can approach the real estate market like a farmer would consider his activities.

 

We can very easily identify the 4 seasons of spring, summer fall and winter in real estate. Lets use an investment property as an example and assuming that you want to be in the game for a long period of time.

 

A farmer would typically plant in the spring and harvest in the fall. Plan in the winter and tend in the summer. So how does this relate to real…

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As Canada’s real estate market continues to defy popular predictions of a slowdown, privately-transacted sales are keeping pace as homeowners look for ways to pocket the fees usually collected by real estate agents.

Many owners are now choosing to bypass real estate agents to sell their homes themselves in order to save the average six per cent commission most agents charge. On a $250,000 home, this can amount to $15,000, a hefty sum for most Canadians.

Savvy buyers are also seeking out FSBO homes, realizing they can usually get a better bargain without the broker’s fee padding the sales price.

The increasing popularity of "For Sale by Owner" or FSBO, as it is known, is understandably unwelcome by real estate brokers, who see themselves squeezed…

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