Is Calgary the best place for a Rental income property in Canada? Using a very simplistic approach it can be shown that Calgary is the best place for an income property of Canada’s major cities.  Here is what I did: Take the average residential property price in the city and divide by the average monthly rental cost in that city.  This gives a ratio and the higher the ratio the more one has ...

Failure of Silicon Valley Bank As a result of the failure of the Silicon Valley Bank the bond markets are assuming that the central banking system (US) and including the Bank of Canada (BoC) will be reducing lending rates. April 12 is the BoC’s next rate setting meeting and there is a ¼% reduction expected by the bond markets and the possibility of another rate cut by this summer. I will k ...

Scenic Acres – a Fantastic Community in Calgary’s’ NW Scenic Acres is close to the LRT, major parks Crowfoot Shopping Area.  Sales have been strong lately with 1.8 months of inventory.  Of the eighteen properties active on the market nine are for the condominium project near the Bow River that is yet to break ground.  Prices in Scenic Acres range from $265,000 to $1,175,000.  This is an exci ...

Tips to sell your House – March 9 2023 The small things that you can do will pay dividends in speed of sale and sale price: Service the furnace; Clean and seal grout in bathrooms; Check all doors for squeaks and for proper fit; All light bulbs should be working and of the same style, if you are using LED’s they should all be 3000 degrees K; Taps and toilets should be in good working orde ...

Bank of Canada – Key Interest rate hold – March 8, 2023 This is the first rate hold after eight consecutive increases, bringing the Key interest rate from 0.25% to 4.5%! Inflation is slowing which is the good news.  A wait and see approach is now in the works. External factors (the USA and Europe) will play into events going forward as they are talking of increasing rates.  If they do and ...

Bank Of Canada – March 9,2023.

The Bank of Canada’s next meeting to review interest rates is March 9, 2023.  It is generally expected that at this meeting there will be a rate hold, with the expectations that later this year rates may go up somewhat.  The likelihood that they will go down is not expected at this point.

Report from Calgary – Real Estate Prices

Today is March 1, 2023 and the statistics have just come out… House prices are up 3% month over month.  Last month prices were up by 1%.  Two months does not make a trend, but given the low house inventory and strong sales (relative to inventory) the price pressure will continue to be upwards for the near future.

Happy Spring!!