Wishing you all a Prosperous and Healthy 2018!
Happy New Year and Happy Home Contest!
CIR Realty is offering a homeowner giveaway each month of this year. You just need to enter a ballot via www.cirrealty.ca/contest every month in order to win that month's prize. This month you could win FREE INTERIOR PAINTING FOR ONE ROOM. For more details, visit my blog http://www.nancyball.ca/blog/.
Last week Bank of Canada increased the rate from 1% to 1.25% which means the big 5 banks will be doing a rate hike. Keep a watch on your mortgage rate if you are not locked in. An example of the rate hike would be an extra $50/month on a 25 year mortgage of $400,000.
Attached you will see my Real Estate Review for Calgary and the surrounding area. December brought higher sales numbers than previous years but there was also more listings. This new surge of inventory has created a buyers market at this time as homes are taking 58 days on average to get the sale. If you are considering making a move, it could be the right time as inventory tends to increase the closer we get to Spring.
I look forward to a great 2018!
January 2018 Happy Home Contest!
CIR will be holding different contests each month for all of 2018. To enter, please visit my blog http://www.nancyball.ca/blog/ for more details.
Two sides of the story
Sales activity for all product types improved in December and pushed monthly sales to long-term averages for the second month in a row.
However, new listings also rose, keeping inventory elevated compared to typical levels for December. With more supply remaining compared to sales, benchmark prices edged down for the fifth consecutive month.
"Many of the economic indicators continue to post modest improvements, including improving sales. However, demand gains have not outpaced the additional supply coming into the housing market.
What the new mortgage rules mean for homebuyers
Today, the Office of the Superintendent of Financial Institutions (OSFI) introduced new rules on mortgage lending to take effect next year.
OSFI is setting a new minimum qualifying rate, or "stress test," for uninsured mortgages (mortgage consumers with down payments 20% or greater than their home price).
Two Alberta cities named as top recommended places to visit
It's time to crack your knuckles, open your calendar, and decide where you're going to visit in 2018. We could toss around a number of cities we think are worth the trip, but this year, we thought we'd do things differently. We conducted a survey of 1,000 Canadians and asked them which city they'd recommend their fellow travellers visit in the new year.
New year, new resolutions: money coach's tips on meeting financial goals for 2018
As the new year kicks off, many British Columbians are making resolutions and setting goals for 2018.
For some, that means taking a cold hard look at their bank accounts — especially after the blur of Christmas spending.
On average, Canadian adults spend more than $1,500 on gifts, travel and other expenses during the holidays.
Five Pro Tips For Staging Your Home For Sale This Year
An eighth floor apartment in iconic 15 Central Park West sold last month for $21.5 million. It took 10 months, two price cuts and—if you ask the broker—staging. The practice of redecorating a home to attract buyers is not new, but in recent years it has grown in prominence. In a recent survey 38% of seller's agents told the National Association of Realtors that they stage every home they list, while another 14% said they stage difficult properties. NAR only began asking about staging in 2015, when 34% of seller's agents said they always stage.
4 Types Of Home Renovation: Which Ones Boost Value?
"Fix it and flip it" is a phrase often associated with real estate. With this in mind, many homeowners undertake major renovation to their residences before putting them up for sale: Sprucing up the place will always send the sales price soaring, right? Wrong. More often than not, these upgrades fail to pay for themselves. Read on to find out how to renovate strategically and which sort of projects really add value to your property.