Oil prices have tumbled in the past couple of months, and the reasons are due to supply and demand. Alberta’s crude oil reserve is the third largest in the world after Saudi Arabia and Venezuela. 8% of the jobs in Alberta are directly related to energy and the indirect benefits of oil sands extend beyond Alberta’s borders, stimulating Canada’s economy.
From near $110 per barrel one year ago, the crude oil price has fallen to $54 per barrel. Alberta is producing oil like mad. Daily production in Alberta is about 2 million barrels, so over the next year, from September to September, producers in Alberta could lose $2.6 billion.
(Impact of Falling Oil Prices on Calgary Real Estate Market
2919 48 St NE
INVESTOR ALERT!! INVESTOR ALERT!! INVESTOR ALERT!! There are many options for this outstanding 1350 sq ft bungalow. This property features 3 bdrms on the main floor with a double sided wood fireplace, large living room, and laminate floors. The good sized master has a 2 piece ensuite and double sliding doors that lead to the back deck/yard.
There is a self contained access to the basement that could easily be converted into a suite. A great fixer upper with a little work this property will look great.
Beauty may be in the eye of the beholder, but the same might not be said about the value of your home in the eyes of a civic assessor. When the City of Calgary assesses your property in order to determine the value of your home and in turn, your share of municipal tax, there’s always the possibility of a distortion in how much your home is really worth and how much the tax will affect your household bottom line.
(Municipal Property Assessment
This Beautiful 1092 sq ft 3 bedroom bungalow is located at 827 Mckenzie DR SE. Main floor is completely renovated with new paint and flooring. Comfortable living and dining area is open to kithen and bay window. Spacious kitchen has white cabinets and granite counter tops.
Large master bedroom, two additional good sized bedrooms and 4 piece bath are on the main floor. This home offers updated windows of good quality and newer high efficiency furnace.
(Investment Tip of the week - Mckenzie Bungalow
As the economy slowly crawls back to almost equaling the plateau it achieved five years ago, when the stock market crashed and the Eurozone kerfuffle plunged the financial world into chaos, one major issue ranking high on the scuttlebutt circuit surrounds what will happen to mortgage rates. It makes sense, since the housing and construction markets are primary indicators of the economy’s direction.
Many homeowners have benefited from the reduction in the rates over the years, particularly five-year fixed closed rates, which were as high as six per cent 10 years ago and have since dropped to more than half by the end of 2012. An even longer-term picture shows that current rates are barely a third of what they were even 20 years ago.
(The Fate of Low Mortgage Rates
Agreement for Sale
Regardless of the standard of living in Calgary, consumers have had to contend with two recently emerging factors that could jeopardize their chances of owning a home.
For openers, rising housing prices have been a consideration for a few years, although the average price of a family home in Calgary at the beginning of 2013 was $496,579 – slightly lower than its Toronto equivalent at $558,345 and less than half the price of a detached bungalow in Vancouver.
(Rent to Own Becoming more Popular
When Calgary’s economy experiences a boom, Calgarians get busy. The heightened activity is particularly evident in the real estate industry, with enough hustle and bustle to qualify as a stampede in its own right.
In such a period, everyone gets into the act, from real estate agents inking deals and lawyers drawing up contracts to inspectors guaranteeing homes are up to code and contractors hired to build a home, boost an abode’s curb appeal or help consumers personalize their new digs.
(Hiring a Contractor
Life in Calgary, home of Canada’s most robust economy, doesn’t mean very much unless you have a roof over your head. It doesn’t help when the competition for active listings is so fierce, sometimes an active listing doesn’t even last a day before the ink dries on the sales contract. Folks who prefer to rent until they get an opportunity to buy a home aren’t all that fortunate, either, given Calgary’s vacancy rate barely hovering above the one-per cent mark. In fact, despite the competition for real estate, it’s still more prudent to purchase a home than to rent a place, since the inventory of active listings is comparatively much higher.
(Buying a Condo vs Single Family House
The first thing you learn in the stock market is “Buy when high, sell when low.” And when it comes to selling your home in Calgary, such sage advice is the same. But when factoring in Calgary’s status as the hottest real estate market in Canada at a time when the economy is recovering with a vengeance after the bear market ensued a few years ago, sellers have to consider a number of other variables in the equation.
Normally, spring is seen by many sellers as the best time to get their property listed, while winter is normally viewed as the worst season during the year to sell. To many buyers, snow tends to have less curb appeal than a fresh lawn, while the cold conditions tend to deter people from venturing outdoors, an obvious prerequisite to relocating.
(When to sell?
Skyview Ranch Calgary
If Calgary can call itself the Heart of the New West, then it stands to reason that one neighbourhood can dub itself as the city’s New North. If the mountain façade at the main street entranceway to the area is any indication, Skyview Ranch is definitely one urban frontier worth exploring.
From the moment shovels started turning the turf in 2009; Skyview Ranch has quickly become one of the most attractive residential spaces in the city. Nestled on the corner of Metis Drive NE and Country Hills Boulevard NE and expanding outward to the northeast, the area on the edge of town boasts more than 10 square kilometers of breathtaking natural scenery, made even more accessible via the network of pathways, parks and wetlands that are home to Alberta wildlife.
(Skyview Ranch Leads Calgary’s New North Movement