Calgary Real Estate Blog

New Calgary Home Search Feature!

Rob Johnstone — Wed, 13 Jan 2010 20:30:00 GMT

Yesterday afternoon we added a new listings search feature to our website. Some people aren't aware, but there can be a 24-48hr delay from when a Calgary home is entered into the MLX system, and when it actually makes it to the MLS.ca (realtor.ca) website.

We now have an option to sign up for our automatic listings search, where you receive listings the instant that they go on the market. No more waiting for MLS. Just fill out our form, and we will create a search for you, emailed directly to your inbox.

Want to see Calgary Homes For Sale the instant they hit the market? Fill out our form!

Carolyn B for Rob J

Confused by Feedback on your Calgary Home For Sale?

Rob Johnstone — Tue, 05 Jan 2010 21:09:00 GMT

If you have ever sold your home with Rob, or if you have it currently listed for sale, you know that we always contact Realtors who have shown your property for feedback. We try to find out how their clients felt about your home overall, as well as if they think it is priced fairly or not. Sometimes we receive conflicting feedback - for example, with one of our listings, we had one Realtor say they thought that it was overpriced, and another say it was priced well.

With conflicting reviews such as this, it is important to note that the showing Realtor is protecting the interest of their clients, and that their feedback may be an attempt to put the property in a more favourable position for their client. A Realtor representing a buyer who is interested in the property might say they thought it was overpriced, in hopes that the price is lower. A Realtor who might have a client with a competing listing might say that the property is priced "just right", in order for their listing to stay competitively priced.

Your best bet is to work with a Realtor who is knowledgeable and experienced, and can review comparable properties in the market, and tell you where you stand.

Rob Johnstone
Calgary Homes For Sale

With over 5400 Calgary Realtors associate with CREB, Rob goes above and beyond

Rob Johnstone — Mon, 19 Oct 2009 19:40:00 GMT

Here is a testimonial from a recently satisfied client of Rob's:

"Rob was very flexible and worked around our schedules. He never showed us anything above the price range we discussed with him, he was never pushy and he was very friendly"

Darcy B & Kim B.

What to do on a Rainy Calgary Day? Why not visit the new Mega-Mall?

Rob Johnstone — Wed, 19 Aug 2009 21:37:00 GMT

How about a short drive to Balzac to visit the new megamall that opened today: Crossiron Mills. This new mall is now the largest single-floor shopping centre in Alberta.

Many retailers new to Alberta can found. Some first-time retailers include: : Bass Pro Shops, BCBGMAXAZRIA (Outlet); Bed, Bath and Beyond; Browns Shoe Outlet; Calvin Klein Jeans (Outlet); Fossil Outlet; Jones New York Outlet; Lucky Brand (Outlet); Sixty Outlet; Naturalizer Outlet; Olsen Europe Outlet; Oakley Vault; PÜSCH Outlet; Quiksilver Outlet; Skechers Outlet; Tommy Bahama Outlet; Town Shoes Outlet; and Underground Outlet.

Also, many retailers have opened their largest store in Alberta at the mall. They include: Toys R Us; La Senza, H&M, The Children's Place, Tommy Hilfiger Outlet, Laura Outlet and Forever 21.

Construction of the entertainment wing began in the early summer of 2009, and is expected to open in the Summer of 2010. It will include include a theatre complex, bowling and restaurants.

A list of the shops:

Access

Aeropostale

Aldo

Aldo Accessories

American Eagle (Opening 2010)

Ann-Louise Jewellers

Ardene Outlet

Athlete's World

Banana Republic Factory Store

Bass Pro Shops Outdoor World (1)(2)

Bath & Body Works

BCBGMAXAZRIA

Bed, Bath and Beyond (1)

Bell

Below the Belt

Ben Moss Jewellers

Bentley Outlet

Bluenotes

Brooks Brothers (Opening 2010)

Browns Shoe Outlet (1)

Build-a-Bear Workshop

Calendar Club

Calvin Klein Jeans (Outlet) (1)

Capz

Carlton Cards

Carriere Studio

Claire's

Cleo

ClickHeat (Cart)

Cork Fine Wine, Liquor & Ale

Costa Blanca

Culture Craze (Kiosk)

Danier Factory Outlet

Dynamite

Ecco Shoes

Eccoci

Empire by Brar

Esprit

French Connection

FeetFirst

XXI Forever (2)

Fido (Kiosk)

Fossil (Outlet) (1)

Foot Locker

Fruits & Passion

GameStop

Gap Generation

Garage Clothing Co.

GEOX (1)

Glamour Secrets Beauty Superstore & Salon

GNC Value Nutrition Centre

Godiva Chocolatier (1)

GUESS Factory (1)

Gymboree

Hallmark

HCV Hardcore Watches (Cart)

H&M (2)

Hermit Crabs (Cart)

HMV

HomeSense

Indigo

International Clothiers Factory (Outlet)

International News

J. Michaels

JACOB

JCY House Boutique

Jersey City

Jones New York (1)

Just Dogs! Gourmet

Kixs Sneaker Boutique

Kiya Furnishings

Koodo (Kiosk)

La Senza (2)

La Vie en Rose Outlet

Lacoste

Laura Superstore (2)

Le Chateau

LensCrafters

Lift Kings Dream Garage

Lucky Brand (1)

Lush Fresh Handmade Cosmetics

Melanie Lyne

Mexx

Michael Hill Jewellers

Michael Kors Outlet (Opening 2010)

Motherhood Maternity

Murdawg Apparel Shop

Naturalizer

Nine West Shoe Studio

No Excuses Perfume Outlet

Oakley Vault (1)

Off the Wall Clothing

Oceana Clothing & Wigs (Cart)

Olsen Europe

Party @ Buck or Two

Payless Shoe Source

Peoples Jewellers

Please Mum

Premier Spa Boutique

Pro Hockey Life

PUSCH Outlet (1)

Purdy's Chocolates

Quicksilver Outlet (1)

Quilts Etc.

Regal Ridge (Cart)

Revolve Furnishings

Ricki's

Rogers Plus

Roots 73 Outlet

RW & CO

Running Room

Santa & Me (Coming October)

Shoe Warehouse

Sixty Outlet

Skechers Outlet (1)

Shutterbug

Smart Set

Soft-Moc Shoe Rack

Sport Chek

Spring Outlet

Squeezy Love (Cart)

Stitch It

Stokes

Style in Shades (Cart)

Sully's

Sun Sports Shop

Sunglass Hut

Suzy Shier

Swimco

Tabi

Telus-Smart Communications

Teaopia

The Body Shop

The Childrens Place (2)

The Shoe Company

The Source By Circuit City

Tip Top Tailors

Tommy Bahama (1)

Tommy Hilfiger Outlet (2)

Town Shoes

Toys 'R' Us/Babies 'R' Us (2)

Underground

Urban Behavior

Urban Planet

VisionQuest Eye Wear

Watch it!

West 49

Wind Spinners (Cart)

Winners

Wirelesswave (Kiosk)

(1) First in Alberta

(2) Largest in Alberta

For more information: http://www.crossironmills.com/

Not your average Calgary Real Estate transaction...

Rob Johnstone — Wed, 19 Aug 2009 21:34:00 GMT

Earlier this week, the sale of a $10.3 Million dollar home made national news:

Katherine O'Neill

Edmonton — From Wednesday's Globe and Mail Last updated on Wednesday, Aug. 19, 2009 03:01AM EDT

It's just one real-estate deal, but its $10.3-million price tag has reminded Albertans that Calgary, the province's financial capital, is still far from going bust.

“There is still a lot of money in this city,” said Donna Rooney, one of the realtors who helped sell the Calgary mansion that has the entire resource-rich province talking.

The 12,700-square-foot Elbow Park home, which boasts imported antique fireplaces, custom inlay hardwood and private courtyards, was owned by former Calgary Flames goaltender Mike Vernon. Listed in May for $10.5-million, it recently sold for $10.3-million, a new residential-real-estate record for the city.

The sale doesn't surprise business owners such as Paul Kuhn. He owns a Calgary art gallery that mainly sells Canadian pieces from $1,000 to $15,000. His gallery also supplied the art used to help sell Mr. Vernon's home.“We're busy. Our only slow month was February,” Mr. Kuhn said.

“My customers aren't the unemployed construction workers,” he later added.

When the global economic recession hit and energy prices collapsed last year, many expected money in Calgary, the headquarters for most of the province's oil and natural-gas companies, would quickly dry up. There were fears that the city, one of the country's fastest rising financial stars, would experience another bust similar to the one in the 1980s when low energy prices and high interest rates devastated the entire province.

This time around, there have been serious economic setbacks. Many condominium developments have been put on hold or scrapped. Employment insurance claims in Calgary have been almost four times higher than the national average. Some businesses, including high-end furniture stores, have even gone under.

But through it all, new ones opened, while others continue to thrive.

“People are still spending,” said Julie Denhamer, co-owner of Bite Groceteria, a gourmet grocery store located in Calgary's trendy Inglewood neighbourhood. However, she said many customers are no longer snapping up as many of the store's higher-priced items.

“We've gone from selling premium, premium olive oils by the boatload to our restaurant clients and now they aren't going as much.”

Todd Hirsch, senior economist with ATB Financial in Calgary, said the city's real-estate market has been showing signs of life in recent months and the record $10.3-million residential house sale is encouraging.

“It's just a one-house, one-month situation, so you can never read too much into that,” he said, “However, it does suggest that the Calgary housing market is relatively healthy.”

Mr. Hirsch expects the provincial economy will begin to rebound by next year at the earliest. “We've seen the worst of the recession and it's going to be a gradual climb out of it,” he said.

While oil prices have begun to recover, natural-gas prices haven't. Until that happens, Alberta will still be facing tough times, according to Mr. Hirsch.

Natural-gas royalties account for more than half of the province's total non-renewable resource royalties.

Market Value doesn't always equal City of Calgary Assessed Value - Here's Why

Rob Johnstone — Thu, 25 Jun 2009 17:25:00 GMT

From time to time, we receive emails asking why the "Market Price" we give in a home evaluation differs from the City of Calgary assessed price. In the current Calgary Real Estate market, assessments are typically higher than market value. This is because the assessment is based on the approximate value last summer. In Calgary's dynamic market, assessed value is often not accurate.

Even though the assessed value is a tool when preparing property evaluations, the ultimate value is determined by comparison to similar properties that are on the market and those that have recently sold. As with any other commodity, in the end, supply and demand dictate what something is worth. The market governs prices.

While assessments are a tool for determining value, the market is governed ultimately by supply and demand. In the 2006 market properties were selling for higher than their assessment from the city. In that market the buyers were saying just the opposite of what you are now saying. " The assessed value is lower so that is what it is worth." After losing out on a few properties to competing buyers they learned that the market determines price. In today's market, prices have fallen somewhat since the assessments were taken resulting in assessments being high relative to market values.

This does not mean that you are paying too much in property taxes, because the assessment is used to determine a fair distribution of the city's tax burden. As long as your value is relative to other Calgary properties, in general, the taxes work out to be equitable. If everyone's values were lower, the mil rate would be increased to distribute municipal expenses.

Currently market values tend to vary 5 to 10% off of the city's assessed value, although I have seen as much as a 25% discrepancy.

Curious how much your property would sell for in todays market? visit www.CalgaryHomePros.com and request a free home evaluation.

2 Story For Sale in Springbank Hill

Rob Johnstone — Tue, 23 Jun 2009 16:47:00 GMT

• 3,143 sq. ft., 3 bath, 4 bdrm 2 story - MLS® $919,900

Springbank Hill, Calgary - This Craftsman Style home, features a circular plan, natural materials such as rock and wood, and meticulous attention to detail. Rich colors and hand-crafted cabinetry define the open sun-drenched kitchen boasting copper countertops, apron front sink and walnut butcher block island. The family size nook is nested between a spectacular cityscape, natural views and a cozy double-sided fireplace. Other features include a separate Den and grandly proportioned laundry/mud room. The upstairs features four spacious bedrooms, and a bonus "Fun" room. The master suite is complimented by a second double sided pebble stone fireplace, fantastic views and fully appointed ensuite plus an extra large walk-in-closet hosting a second laundry. The walkout basement features in-floor heating, and showcases large windows that let in plenty of sunshine. This unfinished space allows you to add your own personal touch. This fastidiously cared for Eco sensitive home is in a perfect quiet walkout location.

Property information

Soundproofing Your Home (especially usefull if you have a basement suite)

Rob Johnstone — Wed, 20 May 2009 15:38:00 GMT

Perhaps you have been considering renting out the basement suite, or maybe you already have a tenant living downstairs. If you have ever lived below someone, you know that sound travels easily. We have compiled a few tips, ranging from less expensive, to more expensive, to soundproof your home.

In our research, we found it highly recommended that you take measures for soundproofing before your home is constructed. This would be ideal, however the majority of homes bought and sold in Calgary are not brand new. (Probably only 10-15% of Calgary home sales are actually new homes).

Less Expensive Ways To Soundproof your Home

Soft surfaces absorb sound. Think Carpet, Rugs, Curtains, Furniture. These materials help dampen sound waves, and absorb sound. Bookcases, dressers (full of clothes), and beds (matresses) also help to block sound waves from travelling to your neighbours. You can purchase sound-deadening drapes, and sound deadening mats, to cut down on noise.

If light can travel, so will sound. Turn off the lights, and see if any light escapes through unsealed cracks, crevices, etc. These should be sealed. Pay attention to cracks along baseboards, etc. Install weatherstripping on your bedroom & interior doors.

Consider using a white noise. A fan can mask other noises, drowning them out.

More Expensive Ways to Soundproof your Home:

Install additional drywall - Double up your walls to create more of a barrier.

Install a dropped ceiling - A suspended acoustic tile ceiling can help create a buffer between you and those above you.

A quick google search led us to http://www.revealconnections.com/connect/soundivide , who has a lot of information on soundproofing using various materials designed to soundproof your home as well.

Calgary Real Estate - on Twitter?

Rob Johnstone — Tue, 21 Apr 2009 16:49:00 GMT

Yes, you read that right! With all the buzz about Twitter, we had to see what it was all about. We have added a widget to our website on the right hand side, so that you literally stay informed up to the second, on new listings, price changes, and other important Calgary Real Estate information!

Blue-Cart Service Comes to Calgary

Rob Johnstone — Tue, 31 Mar 2009 18:43:00 GMT

Call me a tree-hugger, but I'm excited about blue cart service coming to Calgary! See the link below for more information on the recycling program starting this spring :

http://www.calgary.ca/portal/server.pt/gateway/PTARGS_0_0_780_237_0_43/http%3B/content.calgary.ca/CCA/City+Hall/Business+Units/Waste+and+Recycling+Services/Recycling+Information/Residential+Services/Blue+Cart+Recycling/Blue+Cart+Recycling+FAQ.htm?f=FromFlashPage

Carolyn B
Marketing Specialist to Rob Johnstone
Calgary Homes For Sale

Some interesting homes indeed......

Rob Johnstone — Wed, 17 Dec 2008 17:00:00 GMT

This link was sent to us, and we couldn't help but pass it along. Here are some of the most unusual homes you might ever see:

http://realestate.sympatico.msn.ca:80/PhotoGalleries/unusual_homes

The Calgary Real Estate Market Makes the News - Again.

Rob Johnstone — Tue, 16 Dec 2008 21:58:00 GMT

It is no secret that Calgary's Real Estate Boom is over. I had originally anticipated that the market would soften, and had been hopfull that the Fall would be the bottom of the market. This article from the Globe & sums up the state of the Calgary Real Estate Market quite nicely:

Housing sales hit 20-year low as real estate slump widens

Rob Johnstone

Calgary Real Estate in The news ..... (Again)

Rob Johnstone — Thu, 17 Jan 2008 18:16:00 GMT

Calgary house prices to inch toward $500,000

Real estate board predicts 5% gain in 'normal' market

Mario Toneguzzi, Calgary Herald

Published: Thursday, January 17, 2008

The average sale price of a single-family home in the city will flirt with the half-million-dollar mark this year, according to the Calgary Real Estate Board.

In its 2008 forecast Wednesday, real estate board president Ed Jensen said the MLS average will increase by five per cent this year to $495,800 while condominium prices will rise by six per cent to an average of $335,300.

Total sales will dip by five per cent for both the condo and single-family markets, to 7,700 and 17,500 respectively, compared with 2007.

"Two thousand and eight will be a good year and a year of opportunity for serious buyers and sellers," said Jensen. "Seeing a solid Alberta economy, strong employment, predictions of movements to past levels of net migration, I see the Calgary market moving closer to normal market conditions -- as normal as Calgary can be."

According to the real estate board, single-family homes in the city averaged $472,230 in 2007, up 17.94 per cent from $400,398 in 2006. The average sale price of a condo was $316,370, an increase of 19.98 per cent from $263,684 in 2006.

Single-family sales in 2007 were 18,438, down 3.5 per cent from the 19,113 recorded in 2006, while condo sales dropped by 1.9 per cent to 8,236 units compared with 8,396 the previous year.

Lai Sing Louie, senior market analyst in Calgary for Canada Mortgage and Housing Corp., said the organization's forecast for 2008 is similar to the real estate board's.

"We're looking at about 5.5 per cent moderation in MLS sales and our price growth is in the same ballpark. We're looking around the 3.5 to five per cent level, too," said Louie. "There is a lot of supply out there. Going into the last part of the year we saw demand ease off. Some of that was because of the higher prices, but also there is a lower level of net migration that we're seeing coming to Alberta."

Several different real estate reports in the latter part of 2007 predicted average price growth in Calgary ranging from zero to 12 per cent.

Jensen said the resale real estate market in 2007 came in like a lion and went out like a lamb. In the past six years, the city has experienced one of the hottest real estate markets on record.

But in that atmosphere speculators and flippers have also come into the market and impacted its direction.

"A portion of the real estate market has always had an investor component where most adhere to an invest-and-hold program," said Jensen. "This type of investor is great for the marketplace, but investor flippers don't care about the community and can create an artificial demand, which contributes to an artificial price increase situation."

The Calgary market overheated in the past couple of years, setting records in nearly all areas and straining affordability, he said.

But a change happened in the past few months. The city moved from a seller's market, where the sellers could name their price, to a buyer's market where there is a better supply of homes giving buyers better choice.

"We're just coming off two record years," said Jensen. "Obviously, there's lots of speculation with a lot of outside investors coming to the economy and I believe that artificially created new listing environments."

The real estate board forecast for acreages and recreational properties indicates listings and sales will both decline by five per cent in 2008. The average sale price for rural properties will jump by five per cent to $875,600.

For surrounding towns, sale prices will rise by five per cent to an average of $396,000.

In the News: New real estate boss takes out crystal ball

Rob Johnstone — Wed, 16 Jan 2008 16:48:00 GMT

Ed Jensen predicts a year of balance

Mario Toneguzzi, Calgary Herald

Published: Wednesday, January 16, 2008

It was described as a Jekyll and Hyde year in 2007 for the local residential real estate market.

When the year was over, the average MLS sale price of a single-family home in Calgary rose by $72,000 in 2007 compared with the previous year, while the average price of a condominium jumped by nearly $53,000.

According to the Calgary Real Estate Board, single-family homes in the city sold for an average $472,230 this past year, up 17.94 per cent from $400,398 in 2006. The average sale price of a condo was $316,370, an increase of 19.98 per cent from $263,684 in 2006.

Single-family sales in 2007 were 18,438, down 3.53 per cent from the 19,113 recorded in 2006, while condo sales dropped by 1.9 per cent to 8,236 units compared with 8,396 sales the previous year.

It's in this market that 51-year-old Ed Jensen takes the reins as president of the real estate board this year from outgoing president Ron Stanners.

Jensen has been in the industry since 1979 and is operating principal and CEO of Keller Williams Realty South.

This morning, he gives the city the real estate board's outlook for the market in 2008 at the Calgary Real Estate Board Forecast 2008 Conference and Trade Show at Stampede Park.

He was interviewed recently by the Herald.

Q: How would you describe the real estate market in 2007?

A: The real estate market at the beginning of 2007 was a continuation of 2006. It came in like a lion or a firestorm. (For) 2006, it came in fast and hot and so did 2007. . . . Huge demand for product from the buying sense and homes couldn't keep on track. There weren't enough homes in the inventory to meet that demand; consequently, that drives prices.

Q: Were you surprised by what happened last year?

A: 2007 turned out to be a great year statistically. I was not surprised that it had to change because I don't think any economy or any industry in an economy could keep up the pace which we were running. We saw price increases of $10,000 to $15,000 a month on properties and that's just not sustainable. I don't think it was any surprise to anybody that somewhere in there we had to turn."

Q: What is going to happen this year?

A: That's the crystal ball. Employment is great, net migration is going to be down . . . but it still shows a great number which supports demand, interest rates (are good as is) the general economy of Alberta and the energy sector, inventory (of homes) is coming back down from a high standard. . . .

Using the basic principles of supply and demand, we're moving towards a balanced marketplace . . . 2008 is going to be a great year of opportunity for both sellers and buyers.

Q: What is the biggest challenge for the industry?

A: Educating the sellers that they're in a different marketplace. That's our issue right now and certainly I think we'll continue with that.

Q: What do you see as your role as president of the organization?

A: I see the president's role as leading a team of very experienced real estate practitioners in policy-making, governance, strategic thinking for our industry.

Where are we going with the business? . . . Figure out what type of services we can offer our members so they can offer better services to the public in facilitating what they want and that's to buy and sell houses.

Q: Will 2008 be a buyer's or seller's market?

A: It's going to be a great market for sellers and buyers. In my opinion, a balanced market is a good market for both the sellers and the buyers

When we have a seller's market, they're happy, but the buyers are not happy because prices are going crazy. That's not good for the economy. That's not good for anybody in general because those sellers become buyers.

The buyers aren't happy because they can't find the product. It's not an issue of price. It's an issue of product.

Q: What is your advice to buyers in this market?

A: Buy as soon as possible. Buy now.

. . . From the buying perspective, there's no question in my mind that 2008 is going to be an excellent year and I believe that the prices will increase. So buy now while there's selection.

Q: What is your advice to sellers in this market?

A: Sell now. The reason for that is because we've got product.

If you're selling and you're moving for a reason, there's product . . .

It's a good solid economy. We've got good employment. All the economic indicators are good for this time window.

You're selling for a reason and whatever that reason is, then you need to buy. Right now, there's selection, which gives you the opportunity to find the real dream home. What's the next step? That's what everybody wants. So that's why you should sell now. It shouldn't be just on the money side.

There's great values in the home, the economy is good, you're selling now because there's a reason to sell.

Q: Is housing still affordable for Calgarians?

A: I believe it is. We're a city of a million people. Our prices are not going to be indicative of a country town, a village, of 100 homes. And we're a prosperous community which attracts business from all over the world. So prices are relative to that type of city environment.

Q: What has been the biggest change in the real estate industry over the span of your career?

A: We went from blackboards to computers. . . .

Is it better for consumers? Absolutely. Now with the technologies, we can bring more information to our clients to help them make an informed decision and that's our job. Our job is to fill the wish list of our clients in respect to the type of home they want with the amenities they want. The tools allow us to do that.

Where are we going? We're moving down the track toward bigger and better technology. We're on the cusp on going more electronic.

Calgary Mountain Biking

Rob Johnstone — Wed, 16 Jan 2008 16:18:00 GMT

Carolyn here, Rob's Marketing Specialist. I know most of our posts are directly Real Estate Related (and that they should be) but today something more Calgary Related is on my mind: Calgary, and Transportation.

For those of you out there who don't drive, or who choose not to drive, you probably agree that Calgary's transit system isn't too shabby. It gets you from point A to point B in a reasonable amount of time, moreso if you are taking the C-Train downtown to work and back.

Then, there are those of us who walk or bike to work every morning. I have to admit, I'm a fair-weather biker - as soon as the temperature dips below 10 degrees celcius, its time to leave the bike behind and take something with an engine/motor to the office.

I have always admired the Calgarians I see out and about, even when it is -20, they somehow manage to pedal themselves to work. How they do it is beyond me. (If you're asking "Why would ANYONE want to bike in the winter", click here: http://www.icebike.org/whybike.htm)

I guess curiosity has gotten the better of me - and I plan on trying out the whole winter biking in Calgary thing. I'll let you all know how it goes!