Apartment vacancies increase in Alberta's rental markets

dhrstic@volume4developments.com — Thu, 08 Jan 2009 13:45:06 +0100

According to the results of Canada Mortgage and Housing Corporation's (CMHC) Fall Rental Market Survey,
the vacancy rate in privately-initiated rental apartments in Alberta centres with a population of 10,000 or more
increased from 1.6 per cent in October 2007 to 2.5 per cent this October. Weaker net migration and
competition from the secondary rental market were the main reasons
behind the rise in vacancies. The provincial vacancy rate was slightly
above the n [...]

Teleconference Series with Shelley Hagen

info@canadareic.com — Tue, 06 Jan 2009 01:00:00 +0100

Exciting news:

Canada REIC invites you to be a part of our Teleconference Series with Shelley Hagen:

Date

January 8th, 2009

Time:

7:00pm Mountain Time

Dial-In-Number:

(712) 432-0800

Alberta housing more affordable, remains overvalued:

info@canadareic.com — Thu, 18 Dec 2008 01:00:00 +0100

Alberta's housing conditions have softened since prices peaked in 2007, with declining prices restoring some of the affordability lost during the boom, according to the latest housing report released today by RBC Economics.

The RBC Affordability measure for Alberta, which captures the proportion of pre-tax household income needed to service the costs of owning a home, improved across all home segments with the benchmark detached bungalow dropping to 43 per cent, the standard to [...]

City of Calgary gets tough on abandoned construction sites

info@canadareic.com — Thu, 18 Dec 2008 01:00:00 +0100

The city says it is taking action against abandoned construction sites. It says it will now be billing costs back to developers for work the city is forced to complete.

There are several sites around Calgary that the city says it's keeping an eye on. One of those sites is at 5320 2 Street, S.W.

Ashley Norris' boyfriend lives across the street from the future site of the Manchester Station condo [...]

McGuinty calls property assessments 'unrealistic'

info@canadareic.com — Thu, 18 Dec 2008 01:00:00 +0100

TORONTO - Municipal property assessments issued this fall are "unrealistic" given the dramatic drop in the real-estate market, Ontario Premier Dalton McGuinty admitted Wednesday, but he made no move to spare homeowners across the province.

By contrast, British Columbia Premier Gordon Campbell last month announced a freeze of property assessments at 2007 levels to help people cope with the turbulence in property values, [...]

If Canadian prices follow U.S. trends,

info@canadareic.com — Thu, 18 Dec 2008 01:00:00 +0100

If Canadian prices follow U.S. trends, certain cities will experience a major slide in house prices
Some experts are predicting a U.S. style housing crash here in Canada, saying that we're only a year or so behind them. So what would that mean for us?
We decided to take a look at how much the average U.S. housing prices rose in the last ten years, and discovered that prices in October 2008 were 54% higher than in October 1998.Since U.S. prices peaked in April 2007 and Canadian p [...]

Housing sales hit 20-year low as real estate slump widens

info@canadareic.com — Mon, 15 Dec 2008 01:00:00 +0100

The selloff in real estate has morphed beyond a correction of overheated individual markets into a broad national slump, with prices posting their worst decline in nearly 20 years in November.

In the face of a collapse in consumer confidence, the number of resale homes sold in Canada plummeted by 42 per cent year-to-year to 27,743, the lowest level since January, 2001.

Betwe [...]

Foreclosure �Vultures�

info@canadareic.com — Fri, 12 Dec 2008 01:00:00 +0100

They may be ready to swoop down on hapless homeowners, but pickings could be lean

One person's misery might be another's opportunity.

With foreclosures soaring in Clark County, up 40 percent or more from last year, it might seem like a good time to swoop down and pick up that dream home for pennies on the dollar.

But before you decide to become a foreclosure vulture, just remember [...]

Downtown rents dip after massive run-up

info@canadareic.com — Wed, 10 Dec 2008 01:00:00 +0100

Sublease space helps stabilize office rates

Downtown office rental rates in Calgary soared by 160 per cent from 2003 to 2007, but show a slight dip this year as the vacancy rate continues to increase.

A market report by Barclay Street Real Estate Ltd. says the overall average rental rate for office space in downtown Calgary jumped from $15.25 per square foot in 2003 to $39.60 last year. This year i [...]

Which Edmonton Areas Are Selling the Best?

navtaj_chandhoke@yahoo.ca — Fri, 28 Nov 2008 18:50:37 +0100

Every once in a while I do an analysis of the different areas of Edmonton, to see where homes are selling and where they are taking a little more time.

The absorption rate is the number of listings currently on the market, divided by the number of sales in the past 30 days; it tells you how many months it will take to sell the current inventory if the rate of sales stays the same.

The overall absorption rate is currently 8.4 months, which makes it easy to see which areas are above [...]

Volatile areas and house types skew averages

info@canadareic.com — Thu, 27 Nov 2008 01:00:00 +0100

A quick glance at the latest figures from the Canadian Real Estate Association (CREA) indicates that in October the average Canadian home price was 10% lower than it had been a year earlier. But this figure is only weighted by the relative sales volumes in each city. Thus the number becomes a less-useful guide to real estate trends when, such as today, markets across the country are experiencing significant fluctuations.

"The conventional national average price calculation is subje [...]

Rise in new home prices slows to 2.1 per cent

info@canadareic.com — Sat, 22 Nov 2008 01:00:00 +0100

The price of new homes in Canada increased by 2.1 per cent in September on a year-over-year basis, a slower pace than the 2.3 per cent advance in August but still slightly ahead of economists' expectations.

On a monthly basis, new housing prices rose a bare 0.1 per cent between August and September.

However, the bloom was off in the Edmonton and Calgary housing markets.

" [...]

Real Estate Investment Mistakes

navtaj_chandhoke@yahoo.ca — Fri, 14 Nov 2008 01:00:00 +0100

* Real Estate Investment Mistake #1 - Quick Buck Schemes & Scams

Real estate wealth was the road to riches of 9 of every 10 Canadian millionaires. That's why in looking at real estate we agree you are definitely going in the right direction. But few made their fortunes in overnight changes of value, or by buying their real estate for less than it was worth when they bought it. They made their fortune in buying the real estate for less than it was worth over time as they owned [...]

A Grand Entrance Can Impact Your Home Investment

navtaj_chandhoke@yahoo.ca — Fri, 14 Nov 2008 01:00:00 +0100

It's been said you never get a second chance to make a first impression. In fact, your front door is telling people things behind your back! How come? What does it say? Since your front door is one of the first things guests and neighbours see, making your front entrance magnificent can go a long way in enhancing your home's attractiveness and your pride of home ownership. It is one way you can use to maximize both the curb appeal and the enjoyment of your home.

You might be [...]

Ottawa to buy $50B in mortgages, hopes to spur loans

info@canadareic.com — Fri, 14 Nov 2008 01:00:00 +0100

CTV.ca News Staff

The federal government is purchasing another $50 billion in residential mortgages to further stabilize the lending industry and encourage lower interest rates, Finance Minister Jim Flaherty announced Wednesday.

The Canadian economy has stalled and is on the brink of a recession. The government hopes that its cash injection will keep consumers spending and keep businesses afloat.

The announcement follows a similar move last month in which Ottawa bought $2 [...]

Stable Economy Makes Canada Worth A Look

info@canadareic.com — Fri, 14 Nov 2008 01:00:00 +0100

Despite the economic woes facing the USA Canada is in good health and is drawing many people to live and work there.

Canada is in a great position to weather the current global financial storm which most of the world is facing, with its strong levels of employment, its oil and gas reserves and the fact that it has enjoyed 10 consecutive years of balanced budgets. As a result many people are taking a second look at Canada [...]

4 Real Estate and Mortgage Fraud Tips

info@canadareic.com — Fri, 14 Nov 2008 01:00:00 +0100

In recent years with the advent of technology and the internet there has been increased focus of privacy and identity theft but this is nothing new. Theft and fraud has always been a constant threat but especially in our society where your credit is everything and everything can be bought on some form of credit. And the largest form of credit most people have is their home mortgage. But what if the mortgage you have is not even yours and on a property you did not know even existed. This is mortg [...]

Making billions on real estate with no money down

info@canadareic.com — Wed, 22 Oct 2008 01:00:00 +0100

"This is a transaction in which the government of Canada, the taxpayers of Canada will not lose money....quite frankly, because the costs of our borrowing are lower than the value of these mortgages, we'll probably make money when this transaction is over."

Stephen Harper saw a buying opportunity and he pounced. Not with his own money, obviously, but on behalf of all Canadians. Most of us are too stupid or broke to see the buying opportunities [...]

mls.ca website is now REALTOR.ca

info@canadareic.com — Sun, 19 Oct 2008 01:00:00 +0100

October , 2008 -- Moving day has arrived, which means the mls.ca website is now REALTOR.ca. As a result of two years of study and re-design, the site has evolved into a portal providing consumer access to all of the public web sites operated on behalf of REALTORS.

The re-branding of the website was recommended by a task force of The Canadian Real Estate Association, and approved by the membership at the CREA Fall Assembly in 2007. While the site [...]

Mortgage defaults on the increase

info@canadareic.com — Wed, 08 Oct 2008 01:00:00 +0100

Real estate downturn hits homeowners and investors

For years, bankruptcy trustees and credit counsellors in Calgary haven't had enough work.

But in the past couple of months, the workload has picked up as some Calgarians fall behind on their mounting debts and mortgage payments.

"We are seeing people now who are going into bankruptcy, walking away from properties that in the last . . . four years in Calgary has been very, very, very rare," said David Smith, a tru [...]

Blog Entries

Apartment vacancies increase in Alberta's rental markets

Teleconference Series with Shelley Hagen

Alberta housing more affordable, remains overvalued:

City of Calgary gets tough on abandoned construction sites

McGuinty calls property assessments 'unrealistic'

If Canadian prices follow U.S. trends,

Housing sales hit 20-year low as real estate slump widens

Foreclosure �Vultures�

Downtown rents dip after massive run-up

Which Edmonton Areas Are Selling the Best?

Volatile areas and house types skew averages

Rise in new home prices slows to 2.1 per cent

Real Estate Investment Mistakes

A Grand Entrance Can Impact Your Home Investment

Ottawa to buy $50B in mortgages, hopes to spur loans

Stable Economy Makes Canada Worth A Look

4 Real Estate and Mortgage Fraud Tips

Making billions on real estate with no money down

mls.ca website is now REALTOR.ca

Mortgage defaults on the increase