INSIDE: WEEKEND RETREATS
Best vacation spots in Alberta PAGE A4 & A5 Create your own backyard oasis PAGE A6 Spring Creek in Canmore PAGE A7 Best barbecue grills PAGE A7 Tips on owning vacation properties PAGE A8 & A9
FREE may 19 to may 25 2017 issue 07-19 editorial 403-781-1324 advertising 403-263-4940 crebnow@creb.ca
real estate news from industry experts
GOOD CONDO
HUNTING Home buyers from different generations share a connection due to oversupply in the apartment sector
JASON YULE creb®now
I
t’s the kind of thing that plays out in movies. A connection develops between the younger and older generations — think Matt Damon and Robin Williams in Good Will Hunting. And while that fictional relationship was initially fraught with tension, the bond they developed benefitted both parties. It’s a storyline not unlike the scene playing out right here in the local real estate market. Across the giant swath of prospective home buyers stands a new crop of first timers – those looking to climb that first rung of the property ladder, alongside the ever-growing cast of last-time buyers – Boomers looking to drop some square footage. The common denominator for both groups is apartment product, which still has deep pockets of supply and access to the lowest price points in the market. “It’s not unusual to see two buyer groups having similar interests,” said CREB® president David P. Brown. “What’s a little more unlikely is to see purchasers on completely opposite ends of the spectrum having similar real estate needs.” There are always multiple factors that drive consumer decision-making, but price and square footage seem to be the main priority for first and last buyers, says Brown. “I’m generalizing, but affordability typically matters most to first-timers. Getting that initial down payment in place to make mortgage payments reasonable is really important.”
CONDO MARKET A3
$439,600
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CONTENTS
ALBERTA POPULATION AGING
NEWS BRIEFS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A3 CHARITY. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A10 REALTORS® who give back
CREB® STAFF
APR15 MAY15 JUN15 JUL15 AUG15 SEP15 OCT15 NOV15 DEC15 JAN16 FEB16 MAR16 APR16 MAY16 JUN16 JUL16 AUG16 SEP16 OCT16 NOV16 DEC16 JAN17 FEB17 MAR17 APR17
$458,900
CITY OF CALGARY
MLS® BENCHMARK PRICE* APR ’15 – APR ’17
A
lberta’s population is getting bigger, and it’s also getting older. The latest numbers from the 2016 Census released by Statistics Canada highlight a longstanding trend in Alberta. In 2001, 10.4 per cent of Albertans were 65 years of age or older. As of 2016, this proportion was 12.3 per cent. Over this period, about 192,000 people turned 65. The proportion of Albertans 85 and over was 1.1 per cent in 2001 compared to 1.6 per cent last year.
*All statistics based on monthly data compiled by CREB® via MLS® activity. Includes detached, attached and apartment.
AGING A3 NEW PRICING
BUYERS PROFILE. . . . . . . . . . . . . . . . . . . . . . . . . . . A11 Living the high life
DIY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . A11 Building your own wine cellar
MAP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B1 OPEN HOUSES. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . B23 @crebnow
CREBNow
@crebnow
www.crebnow.com
MLS®C4107903 $849,000 $829,000
Real Experience Real Results
• Backing directly onto Bragg creek • Sides onto 10 ac Environmental Reserve • 2825 sq. ft. plus 2400 sq. ft. down
348 WILDROSE CLOSE, BRAGG CREEK
Lee Edwards 403.540.0540
• Great condition, exceptional value
CANYON CREEK
braggcreekrealestate.com lee@braggcreekrealestate.com