Red Hot Housing Market for Calgary - 2017?

No! Small Growth Expected for Calgary

Unlike the Vancouver and Toronto Real Estate Markets, which have seen major price jumps for homes, Calgary is not expected to see this type of volatility. According the 2017 outlook from the Calgary Real Estate Board, house prices aren't expected to grow by a significant amount this year.

Rise Expected but Not Much

CREB's report stated that, "After falling by 3.2 per cent in 2016, prices for detached homes are projected to rise by 0.8 per cent by the end of 2017. Attached homes, meanwhile, fell by 4.1 per cent last year and projected to increase by 0.5 per cent.

Not a Buyers' Market in 2017

David Brown, CREB president said he doesn't expect buyers to have their pick of price-reduced properties across the board. "There are still some good deals in the market but you're probably not going to see dramatic prices drops as we maybe have seen in the previous years."

Balanced Conditions

Chief economist for CREB, Ann-Marie Lurie, said last year was "a buyers' market, for sure" in Calgary but that is expected to start shifting, particularly in the latter half of 2017. "What we're expecting is we're going to see it gradually shift into more balanced conditions."

Time to Buy into the Condo Market

While there is a modest price increase projected for homes, condo prices are projected to fall by another two per cent, according to CREB. "In the apartment-style condos, you may still see some deals available, but everything else is going to stabilize."

There is Risk and Uncertainty on the Horizon

CREB cautions that numerous risks may affect the housing market in 2017, notably oil prices maintaining an average $50.66 per barrel, mortgage decisions by the Bank of Canada and the uncertain impact on the Canadian economy with respect to the election of U.S. president Donald Trump.

Need some help sorting out the risks? Give Chris a call #403-680-4479

Trump – Trudeau They Mean Business!

Trump – Trudeau They Mean Business!

Historic Meeting is Good News for Alberta

Let's Be Clear - the trade between the countries is big. There is a flow of exports including 3 million barrels of oil daily to well over 35 USA states. The dollar figure is more than $2 billion in trade on a daily basis that crosses the world's longest undefended border. Many other countries are envious of this gateway to the biggest trading relationship on the planet.

Fears - "Buy American'' Protectionism – Major Threat

The fears are stayed for now. In a joint statement issued yesterday, the two leaders recognized "profound shared economic interests," and pledged to work tirelessly to boost growth and generate jobs in both countries.

Why Trump and Trudeau Both Smiling

The communiqué says the two countries will work to... move forward on the Keystone XL pipeline and commit to establishing pre-clearance operations for cargo crossing the border. "We intend to accelerate the completion of pre-clearance for additional cities and continue to expand this program," it reads. Trump also wants the North Dakota oil pipe line to move forward.

Round-Table Discussion - Emphasis on Support for Women Entrepreneurs

Of note, Trudeau's team "reached out" to propose a joint task force on advancing women in the workplace, a policy dear to the heart of Trump’s daughter Ivanka Trump.

Reading from his notes, Trump said, "[that] women are the primary source of income in 40% of American households," and he added that in order to create good economic growth, our economy should provide jobs and be a place where women can work and thrive.

Trudeau is No Stranger for Support for Women - 50-50 Even

"Because it's 2015," Trudeau made his Cabinet gender-balanced. Trudeau spoke freely about his pleasure at sitting around the table with a number of successful executives who just happen to be women. He emphasized the need to address the unique barriers that entrepreneurial women face, that they, have overcome significant challenges and will have greater insight into how to remove those barriers and be formidable contributors to the success of business and the economy.

A Sigh of Relief for Now

With interest rates still low and the economy picking up it may be time to get your house in order. Ready to buy or sell? Call Chris 403-6804479

http://www.liveinokotoks.com/
email chris@yourhomeinalberta.com

Balloon –Bust or Balanced? Calgary House Prices 2017 Forecat

Balloon –Bust or Balanced?

Calgary House Prices – 2017 Forecast

Predicting house prices for the Calgary area for 2017 is a complex task. The market will definitely go UP this year based on the economy rebounding, higher oil prices, pipeline expansion etc. According to the outlook from the Calgary Real Estate Board there are predictions of an increase but price impacts will vary depending on housing type.

Light Dim but Growing

CREB report states that prices for detached homes are projected to rise by 0.8 per cent. Compared to normal price increases year over year that's low but at least its going the right direction. Some people are taking advantage of the economy. Of note is the $750k-plus price of the market. This area has seen a recent spike in activity. People are moving UP while the prices are still low.

Not a Buyer's Market for Long

Chief economist for CREB, Ann-Marie Lurie said last year was "a buyers' market, for sure" but it will change in 2017. "What we're expecting is we're going to see it gradually shift into more balanced conditions," she said.

CREB president David Brown agrees. He doesn't expect buyers to have their pick of price-reduced properties except for condos. Prices may fall by another 2%. "In the apartment-style condos, you may still see some deals available, but everything else is going to stabilize."

Even More Good News

CREA, Canadian Real Estate Association predictions tell another story. Not all provincial markets should expect price drops in 2017. Home sales will rise in Alberta by as much a 3.5% primarily because the market experienced a slowdown in 2016.

The Balloon Effect

According to a new real estate report released Tuesday, the average price for a resale home in Calgary will balloon to more than half a million dollars by 2017. The average price for all residential property in Calgary did grow if you look at the long range. A 2013 home selling at $431,760 more or less may be as much as $517,016 in 2017.

Why Wait?

If you have been waiting to buy now is the time since we may have hit bottom, while interest rates are still relatively low, inventory is high and some sellers are eager. As the saying goes, "Why not strike, while the iron is hot?"

Why not give Chris a call: 403-680-4479

REAL ESTATE PROFESSIONALS
100, 5810 2 STREET S.W.
CALGARY, AB T2H 0H2
Office: 403-253-5305
Fax: 403-775-5156
E-mail: chris@yourhomeinalberta.com

Website: http://www.YourHomeInAlberta.com

House-Hunting - Best Deals around Christmas - 5 Reasons Why

House-Hunting - Best Deals around Christmas - 5 Reasons Why

Wrap up a House for Christmas

Mark Di Vincenzo is the author of the bestselling book, Buy Ketchup in May and Fly at Noon. He is an expert on timing. One topic he has researched well is 'when to buy a house'. He points out that homes sell at Christmas time for many good reasons. "Someone's house can really be an emotional attachment, so the seller is thinking, "They must really love this house if they’re willing to make an offer on Christmas Day of all days."

Be Nice not Naughty

The holidays themselves can be a good opportunity for buyers. Di Vincenzo explains how sellers experience deep emotions , "[And] another factor that comes into play is …people are in good and generous moods on Christmas Day so they may very well be willing to accept less money than they normally would on any other day."

Sellers Motivated

Many Real Estate Agents know that winter, in general is advantageous for buyers. According to Di Vincenzo, "If someone’s listing a house in the winter, it's a fairly safe bet that they're eager sellers and that they're more open to negotiation. Otherwise they would wait for the spring." He writes that spring is the sweet spot for sellers but January is best for buyers.

Winter Time - Less Buyers

The fact of the matter, as Di Vencenzo puts it is, "So if you're a buyer, it really pays to be willing to trudge through bad weather…because you're going to have eager sellers and you're going to have less competition."

Willing to Drop the Price

Di Vincenzo points out that Sellers can also be more motivated to accept an offer in January as the credit card bills from the holidays start to roll in. Also, Sellers can find themselves very sick and tired of showings during the holidays and that can be a big motivator when negotiating.

Maybe it's time to let your realtor get you a very good deal.

Have a very Merry Christmas.

Christopher Ashby
REAL ESTATE PROFESSIONALS
100, 5810 2 STREET S.W.
CALGARY, AB T2H 0H2
Mobile: 403-680-4479
Office: 403-253-5305
Fax: 403-775-5156
E-mail: chris@yourhomeinalberta.com

Website: http://www.YourHomeInAlberta.com

Eight Key Players in Alberta's Oil Industry

When Nothing is Certain Anything is Possible

Since the USA election results for Donald Trump, decisions to be made are major and the resolve of these key players is vital to the Canadian Economy and the Environment.

OPEC

In an effort to prop up prices since 2014 OPEC has confirmed it has secured a cut in its oil production from 33.8 million barrels a day to 32.5 million. The OPEC deal triggered frenzied trading with U.S. light crude oil up $1.30 a barrel at $50.74. Today, West Texas Intermediate, WTI was also up over 8 percent and trading at approximately $48.97 a barrel.

USA Ambassador - Gary Doer

In addition to many events held behind closed doors lately, regarding the new U.S. administration and will mean for Alberta and Canada, Gary Doer, the former Canadian ambassador to the U.S. said to the Calgary Chamber of Commerce that no one should discount the strength of underlying, long-established relationships between the countries already in place, which arguably supersede a change in leadership in Washington.

Natural Resources Minister - Jim Carr

The minister has recently said that the goal for Canada is to expand its export markets meaning that it is imperative that Canada's oil production capture the world price. The only way to do that is to gain access to markets off the country's west and east coasts. "(Keystone XL) doesn’t get oil to export markets in Asia."

Prime Minister - Justin Trudeau

The Prime Minister gave approval to the expansion of the Trans Mountain pipeline to Burnaby, as well as the replacement and expansion of Enbridge's Line 3 into the United States. He also announced that Ottawa was rejecting Enbridge's proposed Northern Gateway line to Kitimat.

Although the decision is still "bitterly disputed" as expected by a number of people across the country he believes the project is in Canada's best interests. "If I thought this project was unsafe for the B.C. coast, I would reject it." he said.

Alberta Premier - Rachel Notley

Last week Rachel Notley, during her visit to British Columbia said she will undertake to sell the merits of the new oil pipeline and Alberta's environmental credibility. Keeping the environment on the main burner, Notley said, "There is a need to move forward on environmental progress, while at the same time being respectful of the needs of all Canadians to maintain prosperity and economic security."

B.C. Premier - Christy Clark

The provinces Liberal government has laid out five conditions for its approval of any new heavy oil pipeline. These include regulatory approval, world-leading oil spill response capabilities both on land and at sea, indigenous participation and B.C. receiving its "fair share" of the jobs and real economic benefits from the project. She cited Trudeau's recently announced ocean protection plan as a key example.

Calgary Mayor - Naheed Nenshi

Calgary's Mayor said last week speaking in Vancouver to the Canadian Club that, the national imperative of expanding the Kinder Morgan pipeline from Alberta to the West Coast should not be hijacked by parochial opposition from Metro Vancouver residents.

Nenshi worries decisions about the future of Canada’s energy sector will be influenced by regional political concerns. He stated, "I don’t think anybody has the veto or anybody has the trump. I would argue that in this case, science should have the trump."

Protesters – Too Many to Count

As Trudeau announced the pipeline decisions he also declared the government's intention to phase out coal-powered electricity in Canada by 2030, all while expanding clean power sources.

B.C. groups say the war over Kinder Morgan pipeline is On! Despite the government’s approval of the line, opponents say they will continue to fight. Already hundreds of protesters turned up for the rally.

Greenpeace Canada in a statement and a rallying cry called out, "Whether through the courts, in the streets, or on the land, this pipeline will never make it in the ground."

Chief Terry Teegee with the Carrier Sekani Tribal Council says, "It still puts the Fraser River at risk…so I think that’s the next battle for the many First Nations that live along the Fraser River."

Green Party Leader Elizabeth May says she is personally prepared to go to jail to stop Kinder Morgan. "And I think I’m not the only one," she said. "I think I’ll be sharing a cell with…First Nations leaders."

Seniors Retire on Cruise Ships - Really?

Should Seniors Retire on Cruise Ships?

Seniors Now Planning for Retirement on Cruise Ships - True or False?

The rumour started when a couple while on a cruise ship reportedly met a lady who, instead of booking in to an Assisted-Living Condo or Seniors Nursing Home, took cruises back to back. The story is true according to Snopes.com. Mrs. Muller was happy with her life aboard a ship but will you be? (Muller passed away in 2013) Here are seven pros and cons to consider before you bid Bon Voyage.

Not Much Difference in Cost

+ Dr. Lee Lindquist, an instructor at Northwestern's Feinberg School of Medicine, has compared the cost of 'Cruise-Ship' vs. 'Old-Age Home' living based over a 20-year life expectancy. She determined that there wasn't much of a difference, about $230,000 either way.

- The prices you see on cruise ship websites are only a portion of what you actually pay. Gratuities can be as high as $10 per day or more. Prices of cruise lines are quoted as per-person for double occupancy. Being single can incur a surcharge.

Fabulous Food

+ Dress for dinner? Why not? Have as many as 10 meals a day (fantastic food, not institutional food) in a variety of dining rooms. Why not order room service? Imagine breakfast in bed every day.

- On most cruise ships, you pay extra for alcoholic beverages and sodas. Eating rich food all the time may make you fat.

 Clean Sheets Every Day

+ Housekeeping is free and there are clean towels daily, even soap, shampoo and toothpaste. You may get full-time maid service and/or free washers and dryers. If the TV breaks or light bulb needs changing call for help and there's no charge.

- Most cruise ships charge for laundry service. Closets and bathrooms are compact. Bedrooms are very small and this limits, considerably, any personal possessions you may need in order to feel at home.

You will meet new people every week or two!

+ If you are a social butterfly this may appeal to you.

- However these new friends will only be on the ship for a short time, making it difficult to form long-lasting relationships. The ship's staff will get to know you but they are paid to be nice to you.

Broadway Shows, Comedians and Piano bars

+ Cruise ships offer a range of amenities. They have swimming pools, workout rooms, spas, beauty salons, nightly entertainment and cultural activities including dancing and bridge. They offer guided tours when they dock at an exotic port of call. A few cruise lines offer world cruises that take three to six months meaning that you can travel the world.

- Guided tours at ports are usually an added cost. They may lose their appeal after a time. This goes for the entertainment. You will probably get tired of that too.

A Doctor Aboard

+ Cruise ships have physicians on board, always, "[so] that they could actually be considered a floating assisted-living facility," says Lindquist.

- Doctors may not be 'senior' qualified and may not provide the level of care required. The Medical Center may be well-equipped but designed to deal with minor illnesses or injuries. Your travel insurance may not cover cruise ship medical care. You will likely need to purchase extra travel insurance. Updating refills of medications and availability for pick-up at the next port may be tricky or impossible.

Cruise the Internet

+ Most Cruise Ships have free computer centers. Keep up to date with family and friends.

- Although Internet service, a lifeline for most seniors, keeps them in touch with their land-based families and friends, Videos Chats like Skype can be very expensive. Cell phone roaming charges may mount up quickly.

Call Chris @ 403-680-4479

Oil Prices with Trump a Win!

Oil Prices Low but Trump Could be the Boost Alberta Needs

Most markets are back to normal after the shock of a Donald Trump win in the US election this week. Although losses and have bounced back, oil still faces pressure due to OPEC's cut in production (see OPEC in the News Again 10/06/16) But Trump is here!

Two Priorities for Trump – Do They Help Canada?

Yes! Alberta oil sands will benefit from trump being president. His goals are to prioritise tax cuts and cut deregulation. It was repeatedly mentioned during Trump's election campaign. He made no apologies for being fossil-fuel friendly and his top adviser on energy, Harold Hamm, expects him to roll back the Obama administration's heavy regulations on the oil and gas industry.

Clean Power Plan Scrapped – Oil Economy Bound to Rebound

Hamm recently told the Financial Times that he believes Mr. Trump will follow the two guiding principles of tax cuts and deregulation as ways to stimulate economic growth. He has also made assurances to reduce dependence on Middle East oil and he has said that he is in favour of the Keystone XL pipeline from Alberta to refineries in the U.S. gulf. That will help the Alberta economy immensely.

Oil Market is Still a Place to Invest

Tom Pickering, founder and chief investment officer of trading the firm Auspice Capital has said that a Donald Trump presidency could mean the return of a risk premium for oil prices.

A risk premium is the return in excess of the risk-free rate of return an investment is expected to yield; an asset's risk premium is a form of compensation for investors who tolerate the extra risk.

Is it all Talk - What Should Canada Do?

What are Trump's real plans? What we know for now, just days after the election is that things are looking up for the oil sands business. According to the Financial Post, TransCanada Corp is still fully committed to Keystone XL. It plans to engage with President Elect Donald Trump and his new administration in the near future.

Christopher Ashby
REAL ESTATE PROFESSIONALS
100, 5810 2 STREET S.W.
CALGARY, AB T2H 0H2
Mobile: 403-680-4479
Office: 403-253-5305
Fax: 403-775-5156
E-mail: chris@yourhomeinalberta.com
Website: http://www.YourHomeInAlberta.com