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BRIAN MAHONEY & ROB pARk
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Condos Feature
how to A14
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a10 – A12
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FREE aug 30 to sept 5 2013 issue 03-34 www.crebnow.com facebook.com/crebnow twitter.com/crebnow
real estate news from industry experts
Banks raise rates
2.00%
AUG 20
1.90%
2013
1.80%
Real estate experts say pre-approvals the way to go for homeowners
1.70%
1.60%
1.50%
1.40%
Five Year Canadian BonD Yield
APR 9
2013
1.30%
1.20%
1.10%
$492,777
$524,900
$527,162
$521,887
$510,834
$468,360
$475,272
$478,528
$489,271
$483,519
$472,465
$438,683
JUL11 AUG11 SEP11 OCT11 NOV11 DEC11 JAN12 FEB12 MAR12 APR12 MAY12 JUN12 JUL12 AUG12 SEP12 OCT12 NOV12 DEC12 JAN13 FEB13 MAR13 APR13 MAY13 JUN13 JUL13
Jewel Valley Luxurious Family Living
MLS©C3572027
Last June, Flaherty announced new rules governing mortgage lending and borrowing, including reducing maximum amortization from 30 to 25 years and limiting the amount Canadians could borrow when refinancing their homes from 85 to 80 per cent of the value of the home.
rates A3
City announces contents expert panel news briefs A3 for flood test your knowledge A6 Recycling in Calgary mitigation T
*All statistics based on monthly data compiled by CREB® via MLS® activity.
$1,499,000
receive a daily or weekly spreadsheet outlining available posted rate discounts their branch can offer to clients. “That means one week, the bank may be offering deep discounts on seven year mortgages and not as much on three year,” he said. “Then the following week this could reverse. So it’s important for consumers and homebuyers to ensure they are asking for the different discounts (and) looking at all their options before just blindly signing for the typical three or five year mortgage.”
market
CREB® STAFF
$453,629
$469,726
$470,655 $455,399
$466,167 $453,969
$455,849
$518,392
$518,452
MLS® AVERAGE PRICE* JUL ‘11 – JUL ‘13
$502,065
SINGLE FAMILY
and founding partner of the Real Estate Investment Network Don R. Campbell said was in response to Federal Finance Minister Jim Flaherty “admonishing them for having such low rates and thus potentially inflating the real estate markets in key cities.” “The banks moved the posted rates up, however at the same time, they increased the available discounts that savvy consumers could get if they asked,” he said. Campbell said depending on the financial institution, bank managers
$496,579
A
s Canada’s major banks make moves to increase mortgage rates, real estate experts are saying pre-approvals are the way to go for consumers. On Aug. 20, the Bank of Montreal announced it was increasing the interest on most new mortgages by 20 basis points, a move soon echoed by TD, RBC and other banks.
When it comes to Calgarians looking to purchase a home, Sherry Jenkins with Mortgage Intelligence said preapprovals are an important part of the mortgage process. “I think a pre-approval’s really important if you’re thinking about purchasing because rates are on the move,” she said. “You can increase your rate hold after that. It kind of protects you, especially in an increasing rate market.” Banks previously made a push for increasing fixed mortgage rates in June. A move at the time real estate investor
$496,636
reporter/photographer
$488,311
kelsey hipkin
RBC report
he City of Calgary has created a program to review Calgary’s flood response measures and mitigation efforts and to investigate ways of reducing and managing flood risks to the city in the future. An “expert management panel” has been created to employ a process to examine evaluate and prioritize environmental, infrastructure and policy measures that would significantly reduce the potential harm from floods.
municipal A3
This two storey walkout is ideal for entertaining and perfect for luxurious family living. Features include numerous, furniture quality built-ins, dramatic chandeliers, custom mirrors in baths, limestone, granite & marble counters throughout, elegant curving staircase, rock trim around exterior windows & doors, stone feature wall in family room and striking custom window coverings to frame the lovely & expansive views. The main floor master bedroom with a 5 piece ensuite, walk-in closet, fireplace and serene sitting area is a true adult retreat. The four upper level bedrooms each have access to an ensuite & extensive storage/closet space. Dual laundry rooms provide convenience. Dimmer switches throughout add ambiance. Heated floors in all bathrooms offer soothing comfort. This treed acreage includes a waterfall with remote control from house, aggregate pads, a courtyard, floodlights & extensive exterior lighting to impart a warm welcome to friends and family.
A9
mortgage rates provincial
A13 A13
Flood compensation
commercial
A15
Inner space
map open houses
B1 B19
Kevin Shapkin P 403-262-4150 W www.KevinShapkin.com Real Estate Mountain View