BLOGSMONTHLY MARKET UPDATE :
NOW IS THE TIME TO BUY!!
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BUYER’S GUIDE AND INFO
THE FIVE THINGS YOU NEED TO KNOW AS A NEW HOME BUYER
1. Understand the Market: Alberta's real estate market can be quite dynamic, especially in cities like Calgary and Edmonton. Research current market trends, property values, and future projections. Pay attention to factors like employment rates, economic conditions, and local amenities which can influence property prices.
2. Get Pre-Approved for a Mortgage: Before you start house hunting, get pre-approved for a mortgage. This will give you a clear idea of your budget, strengthen your bargaining position, and show sellers that you are a serious buyer. Shop around for the best mortgage rates and terms.
3. Consider Location Carefully: The location of your new home is crucial. Consider proximity to work, schools, public transportation, healthcare, shopping, and recreational facilities. Neighbourhood safety and future development plans can also impact the long-term value and desirability of your home.
4. Inspect the Property Thoroughly: Hire a professional home inspector to thoroughly evaluate the condition of the property. They will identify potential issues with the structure, plumbing, electrical systems, and more. Knowing the true state of the home can save you from unexpected repair costs and give you leverage in price negotiations.
5. Budget for Additional Costs: Be prepared for additional costs beyond the purchase price of the home. These can include closing costs, property taxes, home insurance, maintenance, and potential renovations. It's essential to have a financial cushion to cover these expenses and ensure you're not overextending yourself.
Taking these steps can help you make a more informed and confident decision when buying a home in Alberta.
UNDERSTANDING THE NEW 2024 CAPITAL GAINS TAX
The Canadian government has recently introduced a new capital gains tax aimed at addressing income inequality and generating additional revenue for social programs. This tax will impact profits made from the sale of assets such as stocks, bonds, and real estate.
By targeting wealthier individuals and ensuring they contribute a fairer share, the government aims to redistribute wealth and support essential public services, including healthcare, education, and infrastructure. While some investors may feel the pinch, the new tax is expected to foster a more equitable economic landscape and provide much-needed funds for the country's development and welfare.
Currently, you pay tax on 50% of your capital gains, no matter what your total gains are. As of June 25, 2024, however, you will be taxed on 50% of your annual capital gains up to $250,000. For any capital gains over $250,000, that ratio increases to two-thirds, or approximately 66.67%.
FOR MORE INFO CLICK THIS LINK: CAPITAL GAINS TAX INFO CRA
VIDEOS
JULY 2024 MARKET UPDATE
JULY Housing Market Update:
In July 2024, Calgary's housing market continues to demonstrate strong dynamics, albeit with mixed trends in various segments. The average home price in Calgary has risen by 11% year-over-year, reaching $612,772. However, the number of homes sold decreased by 1% compared to the previous year, reflecting a slight cooling in sales activity despite the price increase.
New listings have surged significantly, with a 42% increase year-over-year, contributing to a total of 2,590 homes sold in the last 28 days. The market remains competitive, with the average days on market being exceptionally low and homes selling for an average of 101% of their listing price.
Overall, Calgary remains in a seller's market, with tight inventory levels and strong demand driving up prices and reducing the time homes spend on the market.
This situation creates a challenging environment for buyers, but it is favorable for sellers looking to capitalize on the current market conditions.
WORK/LIFE BALANCE
Work-life balance is the equilibrium between professional responsibilities and personal activities, ensuring that neither aspect overshadows the other. It involves managing time and energy to meet work commitments while also prioritizing family, hobbies, and self-care.
Achieving this balance is crucial for overall well-being, as it reduces stress, enhances productivity, and fosters a healthier, more fulfilling lifestyle.
Effective work-life balance is characterized by setting boundaries, prioritizing tasks, and taking time for rest and recreation, ultimately leading to a more harmonious and satisfying life.
1. Set Clear Boundaries: Define specific work hours and personal time, ensuring you switch off from work to focus on family, hobbies, and relaxation. Communicate these boundaries to colleagues and supervisors.
2. Prioritize Tasks: Focus on completing high-priority tasks first, both at work and in personal life. Use tools like to-do lists or project management apps to stay organized and efficient.
3. Schedule Downtime: Allocate time for breaks and leisure activities throughout your day. Regular intervals of rest can improve productivity and mental health.
4. Embrace Flexibility: Where possible, take advantage of flexible working arrangements such as remote work or adjusted hours. Flexibility can help accommodate personal needs without compromising professional responsibilities.
5. Practice Self-Care: Invest time in activities that promote physical and mental well-being, such as exercise, meditation, or pursuing hobbies. A healthy body and mind are essential for maintaining balance and preventing burnout.
DYNAMIC EDMONTON : THE NEXT “HOT” HOUSING MARKET
Steve Sklenka Real Estate, is one of the only agents in Calgary to have exclusive access to exclusive in-depth search of Edmonton listings. See link : Edmonton Listings
Edmonton, is a vibrant metropolis nestled along the North Saskatchewan River. Boasting a rich cultural tapestry, Edmonton offers a blend of urban sophistication and natural beauty.
With a diverse population, it embraces multiculturalism, evident in its festivals, cuisine, and arts scene. The city's skyline is punctuated by modern skyscrapers juxtaposed with historic landmarks like the Alberta Legislature Building. Nature lovers are drawn to the vast green spaces, including the North Saskatchewan River Valley, which provides ample opportunities for outdoor activities such as hiking, biking, and picnicking.
Edmonton is also a hub for sports enthusiasts, home to the Edmonton Oilers hockey team and the Edmonton Eskimos football team. Beyond its bustling downtown core, Edmonton's neighborhoods exude charm and character, each contributing to the city's dynamic identity.
Whether exploring its museums, enjoying its culinary delights, or immersing oneself in its natural wonders, Edmonton offers something for everyone to discover and enjoy.
The housing market in Edmonton reflects a dynamic interplay of various factors, influenced by both local and global trends. Historically known for its affordability compared to other major Canadian cities, Edmonton's housing market has experienced fluctuations in recent years, closely tied to the region's economic landscape. With a significant presence in the oil and gas industry, the city's housing market can be sensitive to fluctuations in commodity prices and employment levels within the sector. However, Edmonton's real estate market also benefits from a diverse economy, including sectors like healthcare, education, and technology, which contribute to overall stability.
In recent times, the market has seen shifts in supply and demand dynamics, impacting housing prices and inventory levels. Factors such as population growth, migration patterns, and government policies also play crucial roles in shaping the housing market landscape. Despite periodic fluctuations, Edmonton continues to offer a range of housing options to meet diverse needs, from single-family homes in suburban neighborhoods to trendy condominiums in the downtown core.
The city's urban development initiatives, along with investments in infrastructure and transportation, further contribute to the evolution of its housing market. Additionally, initiatives aimed at promoting sustainable and affordable housing solutions align with broader community goals and aspirations. As Edmonton continues to grow and evolve, its housing market remains a dynamic reflection of the city's ever-changing economic, social, and environmental dynamics.
On average, housing prices in Edmonton are lower than in Calgary.
To view properties in Edmonton, please call us at, 403 703-3864 and/or click this link.
How much did the house prices rise in Calgary
over a 12 month period?
Calgary saw a huge rise in house prices, with a whopping $76,505 increase on average. The average Calgary house price in February 2023 sat at $506,655, which rose to $583,160 in February 2024; representing an increase of 15.1%.
“The national average rise in the benchmark house price was $4,400, meaning that house prices in Calgary have risen over 17 times the national average over the past 12 months.
Thinking about selling your home? Give us a call at 403-703-3864 or visit our website at
RARE OPPORTUNITY!!! A DEVELOPER’S DREAM
241036 RR 272, RURAL ROCKY VIEW COUNTY
$1,290,000 (NEW LISTING)
Here you'll find a rare opportunity to own 19.0+ acres with a spacious 3444 sq. ft. home near Langdon. Yes, home may need some TLC, but there is a triple garage, 4 bedrooms , 3 baths, and much, much more. The basement is fully developed with a huge arcade area and a theater room.
There is lots of room to have horses, hobby farm or whatever your heart desires in the back of the house. You can have your own garden and grow tons of vegetables, if you like. This acreage is only minutes away from the town of Chestermere. There is telephone, natural gas, paved road, overhead electrical, private driveway, septic system, open ditch, 2 barns and a well.
Havilland Aircraft of Canada recently purchased a property nearby, with the anticipation of creating 1500 jobs. This acquisition should have a favorable impact on the land values in the vicinity. No RPR and this Property sold "as is".
CLICK HERE TO VIEW THE LISTING
FOR MORE INFORMATION, OR TO ViEW THE PROPERTY, PLEASE CALL ME AT: 403 703 3864, OR EMAIL: stevesklenka@remax.net
CALGARY’S NEW GREEN LINE LRT
All Aboard the Eco-Friendly Express: Exploring Calgary's New Green Line
In the heart of Calgary, Alberta, a new era in sustainable transportation is dawning with the inauguration of the city's highly anticipated Green Line train. As the city evolves and grows, so too does its commitment to environmental stewardship and efficient public transit. The Green Line represents a significant milestone in Calgary's journey towards a greener, more accessible future.
A Pathway to Sustainability
Calgary's Green Line is not just a mode of transportation; it's a symbol of the city's dedication to sustainability. Stretching across 46 kilometers, the Green Line aims to reduce greenhouse gas emissions, alleviate traffic congestion, and provide residents with a convenient and eco-friendly way to traverse the city.
Connecting Communities
One of the most exciting aspects of the Green Line is its ability to connect diverse communities across Calgary. From the bustling downtown core to suburban neighborhoods, the Green Line creates a vital link, fostering social cohesion and economic growth. Commuters will now have seamless access to employment centers, educational institutions, and recreational amenities, enhancing overall quality of life.
Accessibility for All
Inclusivity is at the forefront of the Green Line's design. With its network of stations equipped with ramps, elevators, and other accessibility features, the Green Line ensures that all members of the community can enjoy its benefits. This commitment to accessibility empowers individuals with disabilities and seniors, enabling them to participate fully in the city's social and economic life.
Economic Boost
The Green Line isn't just a win for the environment—it's also a catalyst for economic development. By connecting neighborhoods and commercial districts, the Green Line stimulates investment, revitalizes underutilized areas, and creates job opportunities. As businesses along the Green Line thrive, so too does Calgary's economy, fueling prosperity for years to come.
Riding into the Future
As Calgary embraces the Green Line, it sets a precedent for sustainable urban development and forward-thinking transportation planning. By prioritizing public transit and reducing reliance on single-occupancy vehicles, the city paves the way for a more resilient and livable future.
Conclusion
The launch of Calgary's Green Line marks a significant milestone in the city's evolution. With its emphasis on sustainability, connectivity, and accessibility, the Green Line represents more than just a train—it's a symbol of progress and possibility. As Calgarians embark on this new journey, they do so with the knowledge that they are shaping a brighter, greener future for generations to come. All aboard the eco-friendly express—next stop, a sustainable tomorrow!
UPGRADE YOUR OUTDOOR SPACE
Whether you are looking to sell your property or just upgrade your outdoor space; getting your garden ready, and planting the right plants for the season is the key. It’s often referred to as “curb appeal.”
Planting a garden is a surefire way to enhance curb appeal and add character to any home. By carefully selecting a variety of colorful flowers, lush greenery, and decorative shrubs, you can create a welcoming and inviting entrance that instantly captivates passersby. Incorporating seasonal blooms ensures year-round interest, while strategically placing plants to frame pathways and accentuate architectural features adds visual interest.
Consider layering plants of varying heights to create depth and dimension, and don't forget to incorporate elements like mulch or decorative stones to define borders and add a polished finish. With thoughtful planning and regular maintenance, a well-planted garden not only elevates the aesthetic appeal of your home but also creates a lasting impression that leaves a positive impact on visitors and potential buyers alike.
A sustainable garden: Utilizing organic gardening techniques, such as natural pest control and soil enrichment, fosters a healthy ecosystem and reduces reliance on synthetic chemicals. Additionally, incorporating features like permeable paving and drought-tolerant plants helps conserve water and mitigate runoff, contributing to overall water efficiency. A sustainable garden not only provides a sanctuary for wildlife but also serves as a model of environmental stewardship, inspiring others to cultivate green spaces that nourish both people and the planet.
EXCITING NEWS…
We have exciting news today! We are moving our office to RE/MAX Real Estate (Central).
RE/MAX Real Estate (Central) has been the #1 RE/MAX office in the world for the past 25 years.
The office is located at: 5211 - 4th Street, NE, Calgary, AB, T2K 6J5 , Office (403) 216-1600
CALGARY AND THE HOUSING MARKET
In the heart of Alberta's prairies, Calgary boasts a dynamic blend of urban sophistication and natural beauty. Renowned for its vibrant energy and entrepreneurial spirit, Calgary stands as the economic powerhouse of western Canada.
The city's skyline is dominated by sleek skyscrapers, symbolizing its status as a hub for finance, technology, and energy industries. Yet, amid this bustling metropolis lies a deep appreciation for outdoor recreation, with the majestic Rocky Mountains serving as a breathtaking backdrop.
One of Calgary's standout features is its cultural diversity, reflected in its lively festivals, eclectic cuisine, and thriving arts scene.
The annual Calgary Stampede, often dubbed "The Greatest Outdoor Show on Earth," draws visitors from around the globe with its exhilarating rodeo events, live music performances, and vibrant carnival atmosphere.
Beyond the Stampede, residents and visitors alike can explore the city's rich heritage at museums like Glenbow Museum and Heritage Park Historical Village, or unwind in the lush green spaces of Prince's Island Park and Nose Hill Park.
With its winning combination of economic opportunity, cultural richness, and natural splendor, Calgary truly shines as a gem of the Canadian prairies.
MARKET REPORT & STATISTICS
The Calgary housing market exhibits a dynamic landscape characterized by its responsiveness to the fluctuations in the energy sector, particularly oil prices. Historically, the city has experienced periods of rapid growth and stability, driven by its robust economy and steady population influx.
However, the market can also face challenges during downturns in the oil and gas industry, leading to temporary declines in home prices and sales activity. Despite these fluctuations, Calgary's real estate market remains resilient, with a diverse range of housing options catering to various lifestyles and budgets.
From upscale condominiums in the downtown core to sprawling suburban homes in family-friendly neighborhoods, Calgary offers something for everyone.
Additionally, recent efforts to diversify the economy and invest in sustainable development projects have contributed to a renewed sense of optimism in the housing market, positioning Calgary as a promising destination for both homeowners and investors alike.
PLEASE MAKE YOUR COMMENTS OR ASK QUESTIONS IN THE FORM BELOW:
Best Return on Investment Home Improvements for Your Home
Owning a home involves a continuous effort to improve both its comfort and market worth.
Implementing thoughtful upgrades can not only improve your quality of life but also lead to significant financial gains upon selling.
This detailed guide will discuss the most effective home enhancements that yield the highest return on investment (ROI), combining functionality with value to develop an environment that is both visually appealing and economically advantageous.
THE SALE OF THE HISTORIC IRRICANA HOTEL
The historic Irricana Hotel is up for sale, with a current price set for just under $90,000 for the 111-year-old building.
Built in 1910, the hotel was once a bustling venue for drinks and conversation, but it now sits empty and uninhabited.
