Navigating the mortgage marketplace

Darrell Majdell of BMO talks about what consumers need to know about the mortgage stress test and how to choose the loan that works for you

Navigating the mortgage marketplaceDarrell Majdell is regional vice-president of mortgage specialist sales force at BMO. How has the economic downturn of the last few years in Alberta affected mortgage business? Majdell: The Alberta economy has slowed over the past few years, and the real estate sector and mortgage market have felt the effects of this overall – earlier…

Steep decline in new condo prices for Calgary region

First-quarter price changes vary across the country, according to Statistics Canada

Steep decline in new condo prices for Calgary regionPrices for new condominium apartments in the Calgary region showed a steep decline in the first quarter of this year. According to data released on Monday by Statistics Canada, prices year-over year for the Calgary census metropolitan area plunged 15.8 per cent. “A high number of completed and unsold condominium apartments continue to be observed…

Preserving diverse housing options in Calgary

Maya Kambeitz of Norfolk Housing Association talks about providing social housing without stigma

Preserving diverse housing options in CalgaryMaya Kambeitz is executive director of Norfolk Housing Association. What is Norfolk Housing Association (NHA) and what does it do? Kambeitz: Norfolk Housing is essentially a social enterprise dedicated to creating inclusive and affordable communities for people of all socio-economic backgrounds. We own and operate multi-residential housing that uses a unique mixed-income model to deliver…

Continued price declines forecast for Alberta housing market

But MLS activity is expected to rebound in 2020 with sales increasing by 4.7%

Continued price declines forecast for Alberta housing marketAlberta will experience one more year of declining MLS residential sales before climbing back to positive territory, according to the Canadian Real Estate Association. In a forecast report, CREA predicted sales in the province will drop year over year by 0.9 per cent in 2019 to 52,800, following an annual decline of 7.2 per cent…

Why mortgage pre-approval should always be the first step

Jacob Black of RateSupermarket.ca talks about taking the uncertainty and disappointment out of the home buying process

Why mortgage pre-approval should always be the first stepJacob Black is the managing editor for RateSupermarket.ca. What is the cost of homeownership in Calgary compared to other major Canadian cities? Black: Calgary is the sixth-most expensive city to live in, according to our data. You would need to be in the top 25 per cent of income earners in Canada to buy a…

Canadians not financially prepared to support aging parents

Survey also says less than one-in-three Canadians are familiar with helpful tax credits, grants and other financial tools

Canadians not financially prepared to support aging parentsA new survey indicates Canadians are not financially prepared to support their aging parents. The survey, commissioned by FP Canada and Chartwell Retirement Residences, found that many Canadians expect that providing financial support to their elderly parents will have a major impact on their personal finances. It also found than less than one-in-three Canadians say…

How does incentive help first-time Alberta buyers?

Tech-driven real estate brokerage Zoocasa.com has analyzed house prices and household incomes across the province

How does incentive help first-time Alberta buyers?Wondering what regions of Alberta will benefit the most – and the least – from the First-Time Home Buyer Incentive? Tech-driven real estate brokerage Zoocasa.com has analyzed house prices and household incomes across the province to come up with an answer. “The FTHBI will invest $1.25 billion over three years and will provide loans of…

Try-before-you-buy concept used to sell home

Realtor said the owners are offering a stay of about a week but everything is negotiable in real estate

Try-before-you-buy concept used to sell homeYou wouldn’t think of not taking a vehicle out on a test drive before making one of the biggest purchases in your life. So why not a home? A Calgary homeowner who has listed a property for sale is taking the same concept and adapting it to the real estate industry. The seller is offering…

Canadians to spend less this year on home renovations

Half of Canadians plan to renovate their home this year but the average spend is the lowest it’s been in six years

Canadians to spend less this year on home renovationsCanadian homeowners are continuing to cut back on home renovation spending this year, with the average spend the lowest in six years, according to a CIBC poll released on Tuesday. The annual CIBC Home Renovations Poll found that 49 per cent of Canadians plan to renovate their home this year, but the average spend of…

Calgary resale housing sales jump, listings drop, prices fall

Sales growth was primarily driven by homes priced under $500,000, said the Calgary Real Estate Board

Calgary resale housing sales jump, listings drop, prices fallCalgary’s resale housing market saw another uptick in MLS sales in May, the second consecutive month of year-over-year sales increases. According to statistics released on Monday by the Calgary Real Estate Board, new listings fell during the month and prices continued to decline. Here are the key numbers, with percentage changes year over year, from…