boosting your bed’s appeal Some designer tips on how to take your sleeping space to the next level
Condos Feature A9
lori andrews A11
FREE jan 31 to feb 6 2014 issue 04-04
real estate news from industry experts
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2014 brings a new slate of conditions and options for Calgary renters
Cody Stuart
managing editor
Y
ou wouldn’t blame Calgary renters for welcoming the end of 2013. In a year dominated by nearly non-existent vacancy rates, climbing rents and dwindling supply, would-be Calgary tenants had it rough last year. There are however, a few developments that could have renters in the city breathing a little easier. In addition to physical developments taking place around the city, CREB® has launched a service that will help Calgary renters in their search. Debuting Feb. 4, CREB® will begin showing residential rental listings on the MLS® system.
“Consumers will be able to use the trusted and professional services of their REALTOR® to help them find a property to rent using the MLS® system and they will also be able to leverage the MLS® system to find a tenant for their rental property using the professional services of your trusted REALTOR®,” said CREB® President Bill Kirk. The move brings the Calgary board in line with many cities across Canada and the U.S. that offer similar services, and should ease some of the burden for would-be tenants and owners. “Calgary is facing a limited rental market, and the opportunity exists to offer another service to consumers using the trusted and well known resource of the MLS® system,” said Kirk. “By making this option available, CREB® is demonstrating its commit-
ment to being the essential real estate resource for consumers.” After an extended dry spell that saw less than 300 purpose-built apartment units constructed in the city between 2007 and 2011, Calgary’s rental market is finally seeing a rise in construction. According to real estate firm CBRE Limited, there are 32 rental developments planned for the Calgary area. “[Things are picking up] compared to three years ago, when there was next to nothing. You even see it downtown where some of the office towers are putting specific for rent residential,” said Jeff Hurren, senior research analyst for CBRE Limited.
SINGLE FAMILY 60
49
48 40
51 47
45
43 42 43 41 38 37 36
39 37 37 37 38
37 34 31 31
DEC11 JAN12 FEB12 MAR12 APR12 MAY12 JUN12 JUL12 AUG12 SEP12 OCT12 NOV12 DEC12 JAN13 FEB13 MAR13 APR13 MAY13 JUN13 JUL13 AUG13 SEP13 OCT13 NOV13 DEC13
33
*All statistics based on monthly data compiled by CREB® via MLS® activity.
per cent 6 5 4 3 2 1 0
rentals A3
MLS® AVERAGE DAYS ON MARKET* DEC ‘11 – DEC ‘13
58
CALGARY CMA - APARTMENT VACANCY RATE
2004 2005 2006 2007 2008 2009
2010
2011
2012
2013
Source: CMHC, October Survey
Calgarians asked to vote for People’s REALTOR® award
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community
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Soul in the City grant
CREB® STAFF
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algarians are being asked to help determine the winner of CREB®’s inaugural People’s REALTOR® ROAR award. The ROAR awards are a new CREB® initiative, standing for recognizing our accomplished REALTORS®. The People’s REALTOR® ROAR award recognizes a real estate professional or team that consistently goes above and beyond to deliver exemplary customer service to clients.
industry A3