2023 Tax Assessment Notices have been sent to Calgary Home Owners Now is the time to review your property tax situation.  From time to time it is advisable to check your tax status to see that you assessment is in line with where it should be.  If the city has information on your file about the house that is wrong, then you could be paying more than you should be.  It is worthwhile to ensure ...

Residential Rental rates are up 22% year over year in Calgary!  This is more than house price increases are up by about 10% y/y, but have come down by 4% since the peak this summer.  Now might be a good time for an investment property!

The next Bank of Canada meeting is December 7, 2022 Jerome Powell, BoC Govenor, is saying that we should expect an additional interest rate rise of 0.5% at the next meeting.  He has said that they want to slow the increases as they near what they expect the target interest rate to be in order to slow inflation to the two percent range.  The worry is that if they overshoot the target interes ...

Hello All;Airdrie detached property market remains very strong.  To show what I mean, let's look at all detached properties priced between $400,000 and $600,000, currently active, and properties sold in the last 14 days.  There are 17 sales in the last two weeks and 28 properties active on the market.  This gives a "Months of Inventory" of less than one! This shows that properties are selling ...

Happy winter everyone!With interest rates continuing to climb, it is important that for those of you with a mortgage coming up for renewal that you shop around. 60 to 90 days ahead of your mortgage needing renewal it would be an idea to reach out to a Mortgage Broker to see if you can find a better rate!  Who knows... your bank may even match the better rate!One thing to remember is that if y ...

Sales remain stronger than pre-Covid levels! Here is a summary of Benchmark housing prices by sector: Row Housing: price is unchanged since April and up by 15% year over year. (y/y) Semi Detached: price is back to February prices… it is down by 4.4% since the peak in May, however prices are still up by 8%y/y. Apartment: price is more or less unchanged since May and is up by 10% y/y. Deta ...

As per Reuters News Agency the Bank of Canada is expected to increase the cost of borrowing by 50 basis points (0.5%) on October 26, 2022.  Get your mortgage pre-approved ASAP if you are planning a purchase in the near future.  Also, if your mortgage is renewing soon pe pro-active and lock in as soon as you can!I trust that this helps.Paul

October 6, 2022 – Report from RBC chief economist Robert Hogue “Alberta’s stronger economy, the rebound in in-migration and Calgary’s relatively favourable affordability undoubtedly continue to stoke housing demand at this stage” The Bank of Canada’s next meeting is October 26 and the interest rate is expected to rise once again, probably 0.5% or 0.75%.

Calgary Housing Home Price Index Summary Hello and I trust that you are enjoying this fantastic fall weather! A quick summary of Home Price Index (HPI) for residential property in Calgary by property class follows: For detached property year over year (y/y) prices have increased by 12.9%; however prices are down by 3.2% since their peak in May. For Semi Detached property y/y prices are up ...

Calgary’s Stoney Trail Ring Road – Nearing completion! History… Construction of the Stoney Trail, Calgary’s Ring Road, was started in 1996. That is twenty six years ago!  The first segment built was the bridge over the Bow River and the section from the Trans Canada Highway to Crowchild Trail on the city’s west side.  Construction has proceeded in sections around the city in a clockwise mann ...