Mobile home in Airdrie Main St. $40,000.00

Thursday, June 22, 2017Norm Rousseauposted in For Sale

Excellent opportunity to own your own home! This well maintained 2 bedroom mobile home has all new windows (Aug 2015) plus a new back door. Bright and open living room and an eat in kitchen complete with an eating bar and extra kitchen cupboards. Two parking spaces and two storage sheds are included. Conveniently located close to all amenities. Includes washer and dryer. Pad fee $575 a month includes water, sewer and garbage. Come and view your new home today!

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Proportion of seniors in reverse mortgage market trending upward

Wednesday, June 14, 2017Norm Rousseauposted in General

Home News by Ephraim Vecina 14 Jun 2017

HomEquity Bank’s release of its updated figures pointed at record-breaking performance over the first five months of 2017, mainly powered by the increasing number of seniors taking on reverse mortgages.

The lone provider of the CHIP Reverse Mortgage product saw a new high of $60M in its reverse mortgage originations last month, representing a year-to-date increase of 35 per cent compared with the same period a year ago.

“Canadian seniors are releasing the equity they’ve built in their homes, transforming it from passive to active,” HomEquity Bank president and CEO Steven Ranson said.

“We’ve seen a shift in mindset: there’s a broader understanding that home equity – which is often the largest single asset for Canadians – can be easily unlocked,” Ranson noted, adding that this was a natural consequence of seniors (who are now living longer and more active lives) being able to take advantage of the steady appreciation of Canadian residential real estate.

“Historically, the average age of our clients is 72,” the bank exec explained. “Working together with financial planners and mortgage brokers, we’re finding that people incorporate equity release into their financial outlook at an earlier age.”

More and more Canadians aged over 55 are also contributing to the housing or educational dreams of their children (and even grandchildren) as the “bank of mum and dad,” Ranson added.

CREB HOUSING MARKET FACTS

Saturday, June 3, 2017Norm Rousseauposted in CREB Market Statistics, General

Apartment-style inventory levels totaled 1,780 in May, 11 per cent higher than last year’s levels and accounting for nearly 30 per cent of city wide inventory. Inventory gains were mostly under $300,000 and occurred across all districts except the North West. Apartment benchmark prices totaled $271,200 in May, 2.9 per cent below, and over 11 per cent below 2014 monthly highs. Apartment price adjustments have varied across the city, with the largest peak to trough declines occurring in the South East, South and City Centre district. This is likely related to the amount of new condominium construction in these areas.  Detached sales improved across all price ranges representing 65 per cent of all Calgary sales in May, the highest level since 2012. The largest detached sales growth occurred in the $600,000 - $999,999 range. The North West sector recorded the tightest market conditions in the detached sector. Months of supply have averaged below two months in the detached sector, which accounts for over 70 per cent of sales in the area. Tighter conditions have supported modest price growth so far this year. The west area has seen the most significant turnaround in detached prices this year. Year to-date benchmark prices are $713,580. This is a 2.7 per cent increase over last year and just below highs recorded in 2015.

Home prices remained stable in May Demand for detached housing continues to rise

Friday, June 2, 2017Norm Rousseauposted in CREB Market Statistics, General

CREB May. 2017

City of Calgary, June 1, 2017 – Fueled by the detached sector, Calgary home prices trended up for the fourth consecutive month, but remain below 2014 highs.

“The economic climate is supporting detached housing market recovery,” said CREB® chief economist Ann-Marie Lurie.

“Improved demand and easing supply has created more balanced conditions and ultimately some modest price gains. While it will still take some time for prices to recover, the transition in the detached segment is an important first step to stabilization across all segments of the housing market.”

For the first time since June 2015, prices in the detached sector did not decline on a year-over-year basis. Unadjusted detached benchmark prices reached $509,000 in May, one per cent higher than last month and May 2016 levels.

HOUSING MARKET FACTS FOR APRIL 2017

Monday, May 1, 2017Norm Rousseauposted in CREB Market Statistics

● Year-over-year sales activity has improved in each sector of the market. However, overall activity remains below long-term averages in most segments.

● Despite the year-over-year rise of detached new listings in April, overall inventory levels continue to remain 20 per cent below last year’s levels, keeping months of supply at 2.09.

● Growth in new condominium apartment listings continues to outpace growth in sales. This is leading to higher inventory levels and a month of supply that’s nearly six months.

● Oversupply in the apartment condominium sector is placing further downward pressure on pricing. In April, apartment benchmark prices totaled $269,200, which is 0.19 per cent blow last month and 4.23 per cent below last year’s levels. To date, apartment prices have contracted by nearly 12 per cent over 2014 highs.

● Semi-detached prices totaled $390,200 in April, a 0.15 per cent increase compared to last month and 1.72 per cent higher than prices recorded one year ago. Meanwhile, row prices totaled $305,900 in April, 0.59 per cent above last month, but 2.83 per cent below last year.

● Year-to-date sales activity has either improved or remained at the same level as last year in all districts except the NE. Much of this growth is fueled by improved detached activity.

● Within the detached sector, year-to-date benchmark prices have improved in the North West, West and East areas of the city compared to last year.

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