WEST HILLHURST
READY, SET, SHOP
Riverbank community brings charm (and stuffed French toast) to inner city
Calgarians predicted to shell out more than $25 billion in retail spending in 2012
NEIGHBOURHOOD A6
COMMERCIAL A11
STAGING FOR CALGARY’S LEADING REALTORS® 403.651.3462
metamorphosisdesign@shaw.ca See STAGING on page A10
FREE sep 2 to sep 8 2011 issue 01-33 www.creb.com
CMHC Housing Outlook predicts a favourable stable market for Calgary CMA
SIGNS OF
STABILITY
KATHRYN MCMACKIN
reporter/photographer
T
he prices of Calgary’s new homes are forecasted to remain steady for the rest of this year and into the next, according to a report from the Canada Mortgage and Housing Corporation (CMHC). The recently released Housing Market Outlook predicts the median absorbed price of new homes in the Calgary Census Metropolitan Area (CMA) to increase 2.2 per cent to $445,000 in 2011, before rising another 1.8 per cent to $453,000 in 2012. In the last several months, the selection of homes in the resale market has limited much growth in new home prices, stated the report. Statistics Canada’s New House Price Index for Calgary is forecasted to only increase by 0.7 per cent this year, as the pressure on new home prices is expected to remain fairly stable. “The current balanced market is a welcome reprieve from previous years that witnessed pronounced growth and subsequent imbalances in our housing market,” said Sano Stante, CREB® president. With Calgary’s energy sector slated to grow, it is expected to increase the city’s employment, income and inmigration, subsequently contributing to growth in the resale market. In the first quarter of this year, the report found resale activity favoured homes in lower price ranges, with first-time homebuyers taking advantage of the low mortgage rates. In Calgary, more than half of the singledetached homes sold in the first three months of 2011 were priced below $400,000. “When looking at Canada’s major cities, Calgary is one of the most affordable regions for home ownership in the country,” said Stante.
MARKET A3
SINGLE FAMILY
MLS® AVERAGE DAYS ON MARKET* JUL ‘09 – JUL ‘11
59 56
50 47 43
42
40
41
42
52
50
52
45
43
45
39
39
41 41
43
33
JUL09 AUG09 SEP09 OCT09 NOV09 DEC09 JAN10 FEB10 MAR10 APR10 MAY10 JUN10 JUL10 AUG10 SEP10 OCT10 NOV10 DEC10 JAN11 FEB11 MAR11 APR11 MAY11 JUN11 JUL11
34
36
38
49
MORTGAGE CONTENTS REFINANCING NEWS BRIEFS ON THE DECLINE: CMHC EVENT LISTING T
he number of Canadians seeking to refinance their existing mortgage has dropped dramatically, according to the Canadian Mortgage and Housing Corporation. (CMHC). As indicated in their recently released quarterly financial results, CMHC stated that the adjustments introduced by the Government of Canada have reduced refinance activity by nearly 40 per cent.
*All statistics based on monthly data compiled by CREB via MLS activity. ®
®
CRANSTON BACKING ONTO PATHWAYS BETWEEN TWO SCHOOLS
A10
BUSINESS DIRECTORY A10 POP THE QUESTION
A11
MAP
B1
OPEN HOUSES
B19
Jillian Harris
Backing on to a private park setting and lush treed walk path, this pie-shaped lot sits in a stunning location. A feeling of spaciousness abounds with vltd ceiling inside and opening to a two-level deck in a massive yard. Recently updated, this 5 bdrm home features cherry wood flooring throughout the main flr. The spacious DR is open to the formal living and a large bay window frames the beautifully landscaped front yard. The kitchen houses a separate dining area, and has been upgraded with SS appl and granite countertops. A family rm w/wood FP and a guest bdrm complete the main floor. Three bedrooms up include the master with 4 pc ensuite, and two oversized bedrooms. The lower level boasts a media room and a fifth bedroom. The fifth level basement was upgraded to full 8 foot ceilings providing ample storage. MLS®C3479772
$499,900 Contact
ROBERT & DIANA MCINTYRE www.itsSold.ca
INDUSTRY A3
A6
Rare Scenic Shawnessy Residence
Stone fireplace & open beam vaulted family room perfect for entertaining. Vaulted master retreat with window seat and room to relax in your bubble tub. Fully finished basement with a family room, kitchenette, playroom, built-in wall bed for guests. Garage is heated plus has hot & cold water to wash your car. MLS®C3489840
403-710-2877
MORTGAGE RATES
CREB® STAFF
A3
46 Shannon Crescent SW | $470,000 $459,500
www.sanostante.com
RE / MA X RE AL ESTATE ( CENTR AL )
403.289.3435