record luxury
strathmore FEATURE a10 – A11
Petal protection
Sales increase in million Suggestions for dollar plus market sunsoaked plants industry A8
donna balzer A9
FREE july 12 to july 18 2013 issue 03-27 www.crebnow.com facebook.com/crebnow twitter.com/crebnow
real estate news from industry experts
an interest in homeownership
BMO projecting Canada’s overnight lending rate to increase in 2014 kelsey hipkin
reporter/photographer
W
ith an expected increase of Canada’s overnight lending rate in 2014, first-time homebuyers will want to take notice of the escalating cost of borrowing when it comes to the purchase of a home. For the most part, the Canadian overnight rate has remained at one per cent since September 2010 to counter world markets affected by recession. Some buyers may be expecting those low interest rates to last for a while. In a report released by BMO, one-third of firsttime buyers polled expect interest rates to stay the same over the next five years. “The Bank of Canada has made no changes to its policy bias,” said Doug Porter, chief economist, BMO Capital Markets. “With Canadians’ debt-toincome ratio poised to stabilize in the months ahead and the housing sector cooling, we continue to look for a rate hike during the second half of 2014. Even so, other interest rates, such as longer-term mortgage rates, can rise well ahead of the Bank of Canada.” Other first time buyers however, have been keeping their eyes on interest rates and the entirety of the housing market before making the decision to buy.
first-time buyers A3
kelsey hipkin, Reporter/Photographer
SINGLE FAMILY
1638
1611 1209
1174
879 745
773
722
JUN11 JUL11 AUG11 SEP11 OCT11 NOV11 DEC11 JAN12 FEB12 MAR12 APR12 MAY12 JUN12 JUL12 AUG12 SEP12 OCT12 NOV12 DEC12 JAN13 FEB13 MAR13 APR13 MAY13 JUN13 *All statistics based on monthly data compiled by CREB® via MLS® activity.
Sutton CanweSt Real eState
$764,900
Calgary contents housing starts news briefs ‘remained market stable’ in June Royal LePage survey CREB® STAFF
T
1006
1132 962
988
1036
1106
1153
1284
1386
1480
1609
1582
1398
1313
1576
1710
1766
MLS® NUMBER OF UNITS SOLD* JUN ‘11 – JUN ‘13
he Canada Mortgage and Housing Corporation (CMHC) reported Calgary’s housing starts decreased slightly in June trending at 11,279 units compared to 11,316 in May. The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of total housing starts. The standalone monthly SAAR was 10,432 units in June, down from 12,227 in May.
market A3
willow PaRk eStateS - Beautifully uPdated 4 BedRoom home Gleaming new Brazilian cherry hardwood flooring in the spacious inviting foyer, hall, kitchen & family rm. Fr doors to the huge formal living/dining rm & cozy gas FP w/ newer broadloom. Deck off the dining rm. New white kit w/new SS appliances & granite composite counter tops w/raised breakfast bar. Spacious family rm off kitchen w/patio doors to large two tiered cedar deck. The upper level boasts 3 generous bedrooms w/oak hardwood flooring. The master 5 pc ensuite is fabulously reno’d w/granite, soaker tub, H & H sinks, plus gas FP & huge walk-in closet in the master. Main bathroom reno’d w/granite. Fully dev basement w/4th bedroom, 3pc, games, workout area & 3rd gas FP. OS d/attch garage & 4 car drive. All new windows w/HD blinds. Recently professionally painted interior & exterior. Newer gutters, soffits, fence, decking & HW tank. Huge private pie backyard with many mature trees and shrubs. Immaculate condition Just move & enjoy! C3574678
Ritwik and Kathryn Dey purchased their first home in February. BMO is recommending first-time buyers do their homework when it comes to making a purchase as Canada’s overnight lending rate is projected to increase in 2014.
A3 A6
event listing
A6
mortgage rates
A8
how to
A12
Hire a contractor
commercial
A14
Telus Sky
map
B1
open houses
B19
Donna Williams 403-617-7749