Calgary New Condo Guide - November 16, 2012

Calgary Edition

NovJan 16 6- Dec 15 Issue 01 12 - Feb14, 3, 2012 Volume 20

8TH ST SW

10TH AVE SW

inside INSIDE thisISSUE issue THIS

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MAKING OF A BEGINNER’S GUIDE TO CONDOSENSE INSURANCE: ASSEMBLING YOUR MORTGAGE ARRANGING A MORTGAGE WHAT YOU TERMS SHOULD KNOW HOMEBUYING TEAM

WELCOME THEFABRICS NEW YEAR MIX AND MATCH WITH A SPACE NEW ATTITUDE IN YOUR

11/9/12 2:59:19 PM

18 St Barlow Tr

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24 St

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5 NEW MODELS

WALKING DISTANCE FROM: SOUTH HEALTH CAMPUS, SHOPPING, DINING AND MORE!

TWO BEDROOM CONDOS

THREE BEDROOM TOWNHOMES

$170S

$250S

*Based on 2007 - 2011 CHBA Statistics

SALES CENTRE HOURS 302 CRANSTON RD. S.E. T: 403.457.2670 MONDAY - THURSDAY: 2-8 PM FRIDAY: CLOSED WEEKENDS & HOLIDAYS: NOON - 5 PM For more information and registration Call Judy-Lynn Lavelle 403-457-2670

NORTHWEST

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table of contents

November 16 to December 14, 2012 volume 15 issue 12

09

mark on 10th

Luxury condo in the Design District

columns, news & features

008 editor’s note Columnists

020 contemplating condominiums Choose a Realtor who understands condos by linda palfi

052 home smarts Assembling your homebuying team

by marnie bennett

in the news

features

Homebuyers’ Help

016 housing market Calgary housing market showing no signs of slowing

036 style file Get friendly with fabrics: how to mix and match

009 cover story Qualex-Landmark makes MARK in the Beltline

030 survey Insurance products remain a mystery to Canadians

040 insurance needs How to avoid big problems in small spaces

028 condo profile Avi Urban launches two new projects in southwest Calgary

046 debt poll More Canadians are debt-free in 2012

by yanic simard

BY HEATHER RYAN

BY heather ryan

053 Homebuyers’ Help Condo Buyers’ Resource Section 057 INDEX

28 Vice-President, Wall2Wall Media

Jacqueline Hill Editor-In-Chief

Susan Legge Editor

Janine Druery Lydia McNutt (on leave) Art Director

Daiana Garay Design Editor

Yanic Simard Media Consultant

Natalie Houghton 587.226.1313 Contributing Editors

Wayne Karl Elisa Krovblit Silvana Longo Sara Duck (on leave) Production Manager

Bala Gnanapandithan

36

Production Co-ordinator

Greg Van Sluytman Graphic Designer

Viosa Barileva National Account Manager, Mediative

50

Paul Slizys Published By

2891 Sunridge Way N.E. Calgary, AB T1Y 7K7

Copyright 2012 Copyright covers the contents of this publication and prevents reproduction in whole or in part; offenders will be prosecuted. We reserve the right to refuse any advertising, to make changes or edit advertising as necessary. Care will be taken to ensure copy accuracy but no warranty is implied or given by the publisher.

The publication, the publisher and the printers shall not be responsible for any typographical errors, mistakes, misprints, spot colouring or any information or lack of information furnished by the advertisers.

Wall2Wall Media is a trademark of Yellow Pages Group Co. in Canada.

Advertising rates

62 40

T 587.226.1313 email natalie.houghton@wall2wallmedia.com Circulation Copyright covers the contents of this

publication and prevents reproduction in whole or in part; offenders will be prosecuted. We reserve the right to refuse any advertising, to make changes or edit advertising as necessary. Care will be taken to ensure copy accuracy but no warranty is implied or given by the publisher.

The publication, the publisher and the printers shall not be responsible for any typographical errors, mistakes, misprints, spot colouring or any information or lack of information furnished by the advertisers.

Editorial Submissions from interested parties will be considered. Please submit to susan.legge@wall2wallmedia.com

The views and data expressed by columnists do not necessarily represent those of the publication.

The homeTRADER & Design are trademarks of Apax Partners LLP, used under license.

Please recycle this magazine! Wall2Wall Media participates in the Partner’s In Growth Reforestation Program through St. Joseph Communications. To date, Partners in Growth has planted over two million trees in parks, recreation and conservation areas, and other public spaces across Canada. Established in 1990, this program was started with Scouts Canada to help replenish the environment.

EDITOR’S NOTE

THINK YOU CAN’T AFFORD A HOME? Think again.

SUSAN LEGGE

EDITOR-IN-CHIEF

Wall2Wall Media Susan.Legge@wall2wallmedia.com Follow me on Twitter at Twitter.com/SusanLegge Like us on facebook search: Condo Guide

Much like that bank commercial that says, “you’re richer than you think,” a new home may be more affordable than you originally thought. Perhaps you only need to change your definition of “home” to get into the market.

While a detached home is the traditional choice for many, highrise and lowrise suites, lofts and townhomes have become a prime choice among first-time buyers and empty nesters in the market for new place to call home.

Not only does condominium living afford you the opportunity to live in a prime neighbourhood at a great starting price, when it’s time to move you can often opt to remain in the same neighbourhood, since many

buildings and townhome communities offer a mix of designs and sizes, which allow families to relocate easily without having to change jobs or schools.

Today’s communities generally have a range of sizes and prices that start at the “affordable” end of the price spectrum. This fall, many builders and developers are gearing up for their grand openings or have suites available for quick occupancy. It’s an exciting time to be shopping for a new place, so don’t miss this excellent buying opportunity.

Have a look through this issue and see what you think. The home of your dreams is waiting.

Get informed

ABOUT INSURANCE According to a recent survey conducted by Desjardins Group (desjardinslifeinsurance.com), most Canadians are sorely lacking in their knowledge of insurance products – including home insurance (please see story on page 30).

JANINE DRUERY

EDITOR

Wall2Wall Media Janine.Druery@wall2wallmedia.com Follow me on Twitter at Twitter.com/JanineDruery

Some of the main findings of the survey are as follows: ›› One-third of respondents have either chosen or refused a mortgage insurance product offered by a lending institution, without assessing their finances or comparing costs with other products on the market. ›› Only 44 per cent knew that not all insurance policies come with surrender value. ›› Just 45 per cent knew that water damage is the most common type of claim filed by homeowners.

08 NEW CONDO GUIDE | VOLUME 15 ISSUE 12 | www.homeTRADER.ca

›› Close to 40 per cent of those with home insurance didn’t keep lists, sales slips or photos of their most valuable assets that would help them submit a claim in the event of a loss.

Are insurance companies not doing a good enough job educating people about the importance of insurance, or are a lot of people just not that concerned?

Maybe it’s a bit of both? Whatever the case, it seems clear that most of us have to start taking a more active interest in insurance if we want to protect ourselves, our families and our homes.

In this issue of New Condo Guide, we focus on home insurance and what homeowners need to know. Of course, reading about it won’t get you completely up to speed on the topic.

To the mix, you’ll need to add research, financial planning and likely a meeting with an insurance representative. But it’s a good start.

COVER STORY

QUALEXLANDMARK MAKES MARK in the Beltline // BY HEATHER RYAN QUALEX-LANDMARK IS MAKING ITS MARK in Calgary’s emerging Design District with its newest high profile downtown condo development called MARK on 10th.

Located in Connaught at 10th Avenue and 8th Street S.W., MARK on 10th is a distinctive 34-storey, 270-suite condo project that offers luxurious urban homes with secured underground parking and outstanding amenities starting from the low $200’s.

“MARK on 10th is purposely built for today’s urban dweller because of its proximity to the downtown Design District, offices, universities, transportation, and entertainment districts,” says Qualex-Landmark president Roger Navabi. “We are redefining the urban home by adding amazing amenities like the rooftop lounge and the generous garden on the third floor podium into the mix.”

The expansive third-floor garden, which is inspired by traditional and contemporary landscape design from east and west, will be one of the largest residential highrise common gardens in the city. Residents will enjoy relaxing in the garden that will include open lawn areas for passive recreation, overhead shade trees and a fully accessible pedestrian pathway network with lounge seating.

Or, they can head to MARK’s outstanding rooftop amenity that features a private members club,

“WE ARE EXCITED TO ANNOUNCE THAT DOUGLAS COUPLAND IS CREATING ARTWORK FOR MARK ON 10TH,” SAYS NAVABI. fitness facility and glass mezzanine lounge with panoramic views of downtown and the Rockies. Outside, there are plans for an elevated hot tub, sunbathing patio with seating, lounge area with outdoor barbecue and a raised fire pit.

Qualex-Landmark also places a special emphasis on infusing art into its common spaces, so MARK will feature Alberta’s first large-scale art commission by Douglas Coupland, an internationally renowned Canadian novelist, visual artist and designer. His work has been published in 30 countries and translated into 22 languages. His first novel in 1991 was Generation X: Tales for an Accelerated Culture. He has published 13 novels, a collection of short stories, seven non-fiction books and a number of dramatic works and screenplays for film and television.

“We are excited to announce that Douglas Coupland is creating artwork for MARK on 10th,” says Navabi. “Commissioning an artist of his stature to create an art piece for MARK enables Qualex-Landmark to play a role in developing the emerging Design District that is energizing this area of Calgary’s downtown.”

Conceived by award-winning designers Rafii Architect in partnership with BKDI Architects Inc. and Durante-Kreuk Landscape Architects, MARK is a mixed-use high-rise tower with residential suites and a selection

10 NEW CONDO GUIDE | VOLUME 15 ISSUE 12 | www.homeTRADER.ca

Author Douglas Coupland Photo BY:

Brian Howell 2012

of retail services to meet residents’ needs and complement local conveniences. Innovative interiors are created by renowned interior designers at Trepp Design Inc. and incorporate a multitude of design features inside and out.

Residential suites offer one- and two-bedroom designs with top quality features such as over-height doors and ceilings, expansive energy-efficient window-walls, wide plank wood-laminate flooring, elegant porcelain tiles and individually controlled heating and cooling. Other incredible interior features include stainless steel appliance package, quartz countertops, glass mosaic tile backsplash and soaker tubs. Residents can also choose between two distinctive colour palettes.

With its enviable location in the heart of the Design District, residents will appreciate the walkability factor – being able to access most amenities, such as groceries, restaurants and services without having to get into the car, plus they have easy access to downtown for work and trendy 17th Avenue.

“We are excited to officially launch MARK on 10th,” says managing director Mohammed Esfahani. “Homebuyers can now learn more about MARK’s amenities, its breathtaking views and its luxurious homes at accessible prices.”

Since 2004, Qualex-Landmark has been building high-rises of exceptional quality in Calgary, inspired by four words: commitment, integrity, respect and passion. It began with Stella in 2004, and was followed by Nova in 2006, Luna in 2009, and Calla currently under construction — all in the Beltline. MARK is the fifth Calgary condo development from QualexLandmark, which will celebrate its 10th anniversary in Calgary in the coming year.

For more information on MARK on 10th, at 901 10th Ave S.W., or to register online, visit qualex.ca/mark or call 403-244-2428. www.hometrader.ca | Volume 15 issue 12 | NEW Condo Guide 11

INNER CITY

yOu’ll alwayS REMEMbER yOuR FIRST.

RIVERFRONT dOwNTOwN CONdOS FROM ThE MId $200,000s. ONly 5% dOwN*

ExpERiEnCE

Sales Centre 553 Riverfront Ave SE, 403.263.8144 liveherefirst.com

*On approved credit. 5% cash down plus 5% in bond. Processing fee and bond cost paid by developer. Ask sales rep for details. Prices shown do not include GST and are subject to change without notice.

E&OE. Illustration is artist’s impression.

12

inner city 05 L una

by Qualex-Landmark Group of Companies

RILEY PARK VE 4A

6 AVE N

5 AVE N

12 08

VE 2A

1120 - 10th Avenue S.W.

N

SUNNYSIDE STATION

06 u no in mount royal BY maple projects show suite now open

ROTARY PARK

PRINCE’S ISLAND PARK

836 Royal Ave S.W.

07 d rake by grosvenor

17

EAU CLAIRE04 MARKET

09

Visit Sales Centre at 2nd Floor, 850 - 16 Avenue S.W

16

01

08 P IXEL

by Battistella

4 AVE S 5 AVE S

13

9A St and 2nd Ave NW www.battistella.ca

6 AVE S

MILLENNIUM PARK

02

CONVENTION CENTRE

9 AVE S

MOUNT ROYAL VILLAGE

TALISMAN SPORTS CENTRE

4 ST W

5 ST W

CLIFF ST

03

10 ST W

PROSPECT AVE

26 AVE S

01 Riverfront Pointe

by CARLISLE group

101 Riverfront Avenue S.E.

02 m ark on 10th -coming soon by qualex 901 - 10th Ave S.W.

MACLEOD TR

VICTORIA PARK / STAMPEDE STATION

17 AVE S

06

23 AVE S

1 ST W

2 ST W

COLONEL BELCHER HOSPITAL

11 1 ST E

10

4 ST W

11 AVE S 12 AVE S

15

5 ST W

8 ST W

10 ST W

14

05

FORT CALGARY

CITY HALL

OLYMPIC WY

GREYHOUND BUS TERMINAL

09 S olaire

By La Caille Group

888-4th Ave. SW Presentation suite 912-5th Ave. SW www.solaireliving.ca

10 c alla By qualex landmark group of companies 14th Ave. & 6th Street SW

11 keynote

220 12th Ave. SW

CALGARY EXIBITION AND STAMPEDE PARK

12 st. johns tenth street by streetside

ERLTON / STAMPEDE STATION

13 F IRST

by FRAM + Slokker

10th St. & 3rd Ave. NW

East Village, Calgary, AB

26 AVE S

03 TRIBECA

by BUCCI developments 1905 4th Street S.W. www.tribecamission.com

04 W aterfront

by Anthem Properties 216 Riverfront Ave. S.W.

14 6 th & tenth coming soon by lamb development corp.

15 t he block by avi urban

Sales Centre 1022 17th Ave. SW

16 steps by sturgess

Coming soon to Bridgeland

17 n ext by bucci

Show Suite 921 1st Ave. NE

www.hometrader.ca | Volume 15 issue 12 | NEW Condo Guide 13

marke t mar t s with

Jim Malner

Exactly one year ago I wrote the first of a two part series on CSG’s initiative to purchase rental properties in Phoenix, Arizona using many of the same real estate shopping principles we advocate in these columns. I stated then I would print an update one year later to evaluate how things went. If you fast track back then, it was probably the bottom (or very close to it) of the US housing crisis. We began researching and exploring Phoenix in November 2010 to determine if there was a chance of capitalizing on depressed market conditions. Of course it was a lot of hard work and learning but the best investments usually are. We acquired only properties that fit a preferred location based on analysis of the overall market. We reviewed family formation types, population growth, employment growth (that was pretty tough to find at the time), housing quality fundamentals, amenity development and crime statistics. Not much different than how you should be selecting an area in Edmonton to make the best home investment to satisfy your needs.

We selected a product that would be great for rental to a large population segment under regular market conditions and our budget parameters. We settled on 3 - 4 year old townhomes with single or double garages from $45,000 to $55,000. (Yes, those were real prices at the time) Again, no different than how you should define a product to fit your lifestyle and budget thresholds.

Visit as many show homes and sales centres as possible, so you can evaluate the best home for your needs and compare the value of each in detail. Every seller and situation is different, even in the new home or condo industry.

Finally we made four shopping trips and worked hard evaluating each property and their sellers situation.

And, we looked at dozens and dozens of properties.

Most were unsatisfactory for some reason but a dozen fit our profile. This is key to finding a great investment. Visit as many show homes and sales centres as possible, so you can evaluate the best home for your needs and compare the value of each in detail. Every seller and situation is different, even in the new home or condo industry. Then we made offers – usually about 7% - 15% below list price which we felt guilty for at those prices. But, it’s part of the process. One offer was accepted outright, 4 were countered at less than list, 6 were countered back at list and one was actually countered back at higher than list. The excitement and disappointment of making a good deal had begun and eventually 14 NEW Condo Guide | Volume 15 issue 12 | www.hometrader.ca

There Are Lessons To Be Learned Here

successful closings occurred. It’s important that you find the “right” potential properties and then create leverage for yourself through comparables and try to negotiate price or contents.

Fast forward to November 2012 and there have been four straight months of “positive” news on US housing. In fact, Wells Fargo, Goldman Sachs and Citigroup have each announced a housing recovery is underway. Phoenix’s conditions have improved dramatically and we are happy with our purchases.

The homework and effort was well worth it, not only today but over the next five to 10 years that we hold these properties.

The story is illustrative of a good home shopping approach, regardless of what you’re buying. It needs to be detailed, measured and analytic to find and secure your preferred home and be rewarded with a smart future investment.

There’s lots of talk in Canada today about housing markets, corrections, over valuations and so on.

We are fortunate to live in Edmonton, the countries second best market next to Calgary (sorry it’s a fact). If most forecasters are right we’re in good and growing market conditions for the next two to three years. So, if you’re looking for the physical and financial comfort of a new home or condo, now may be your best time to do some home work and press forward. Like us in Phoenix, there’s no guarantees for the future. But, do your homework and stick to the parameters that make sense for you. Things can change a lot in just a year so don’t keep sitting on the sidelines. Our purchases have turned out very well and I expect your new home shopping experience – if performed in a similar fashion – will yield the same results. Good luck and go shopping.

Follow CSG on Facebook or Twitter for regular real estate opportunities and updates.

All of Jim’s columns are posted on CSG’s blog at marketsmarts.net.

Jim Malner is President of Consumer Strategies Group (CSG), Alberta’s longest serving, professional, real estate marketing consultancy with offices in Edmonton, Calgary and Vancouver.

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www.homeTRADER.ca | VOLUME 15 ISSUE 12 | NEW CONDO GUIDE 15

HOUSING MARKET

CALGARY HOUSING MARKET

does not show signs of slowing

CITY OF CALGARY SALES ACTIVITY marked a 23-per-cent increase over levels recorded in October 2011. The continued improvement in sales has pushed year-todate sales activity to nearly 16 per cent above levels recorded last year.

“Relative to national trends, we continue to move in the opposite direction, recording both sales and price growth,” says CREB President Bob Jablonski. “However, despite the higher than anticipated sales growth this year our market is not overheating, simply returning to levels consistent with long term trends and prices still have not fully recovered after the last recession.”

Sales improved over 2011 levels across all housing types in the city. Apartment condominium sales have been on the rise, with year-to-date sales nearly 12 percent higher than last year. Single-family sales growth has been the strongest, with almost 17 per cent more yearto-date sales this year compared to 2011.

New listings within city limits totaled 2,312 for the month, a nine per cent decline over October 2011 levels.

The decline in new listings relative to sales has continued to reduce total inventory levels across all sectors. However, because this is a less active period in real estate, the months of supply remains within balanced levels.

The strong demand for homes relative to the supply levels has caused some significant increases in the price of single-family homes this year compared to 2011. As 16 NEW CONDO GUIDE | VOLUME 15 ISSUE 12 | www.homeTRADER.ca

of October 2012, the benchmark price for a single-family home was $433,300, an eight-per-cent increase over the previous year. While there has been significant recovery in Calgary home prices, typical unadjusted home prices have leveled off remaining relatively unchanged over the past four months, and remain below the highs recorded in 2007.

Condominium apartments recorded a benchmark price of $247,000 in October 2012, losing some ground over the previous month, but still higher than the previous year by three per cent. While, on average, condominium apartment prices have fallen more than risen since 2007, condominium prices this year have recovered to levels comparable to 2010.

After the first 10 months of the year, condominium townhouse sales totaled 2,279, 16 per cent higher than last year. The benchmark price for a townhouse in October was $279,000, a three per cent improvement over October 2011.

“At the end of last year, the Calgary economy was growing and continued to post job growth,” said Ann-Marie Lurie, CREB’s chief economist.

“However, global economic uncertainty was increasing, impacting overall consumer confidence and contributing to a significant amount of caution in the resale market.

“While many of these global economic risks remain this year, consumers’ concern regarding the impact on our economy has lessened. Calgary has continued to record relatively strong economic, employment and migration growth. This, combined with improving affordability, has encouraged consumers to purchasing real estate in Calgary.”

What?

All this for $246,900 and All this for 225K and it includes parking. it includes 403.264.1703 drake17.com Show suites located at 850 – 16th Ave. SW Open 12-6pm Mon-Thurs, 12-5pm Weekends. Closed Friday. *See a sales representative for details. E & O.E.

Here’s what you can do to Recycle, Renew and Reuse • Keep your car in good working order. Tune-ups and filter changes cut down on exhaust emissions, and you’ll get better gas mileage.

When you change your oil, take your used motor oil to a recycling centre.

• Use available transit alternatives.

• Separate your garbage. Glass, aluminum, paper and even plastic can be recycled. If a recycling program is not directly available to you, contact your municipal sanitation department.

• Donate reusable clothing and linens to charity.

Most pick-up regularly in your area.

• Become environmentally active in your community.

You can make the world a better place to live... now and for future generations.

Recycle girl(19/9)-ja/ah

www.homeTRADER.ca | VOLUME 15 ISSUE 12 | NEW CONDO GUIDE 17

18 NEW CONDO GUIDE | VOLUME 15 ISSUE 12 | www.homeTRADER.ca

METIS TRAIL

northeast communities 05

04 Galleries Renfrew

by ASSURED HOMES

SADDLETREE DR.

52 STREET

DE

TR A PI

03 i ndigo sky at saddleridge by carlisle group

68 Street NE & 80 Avenue NE

NA

1116 Renfrew Drive NE

03 80 Ave

05 Coventry Station

by HUNTER RESIDENTIAL DEVELOPMENTS

10

CALGARY INTERNATIONAL AIRPORT

64 Ave

CENTRE STREET

12 AVENUE

32 Ave

Skyview Ranch Rd & Skyview Ranch Dr

RIVE

08 h ighland park By stonecroft

RIAL D

MEMO

36 STREET

4303 - 1st Street NE

10 i ndigo sky at tara lake By carlisle group

17 Ave

Sales Suite 68 Street & 80 Avenue NE

11 KINTALLA

By STREETSIDE DEVELOPEMENTS

MacLEOD TRAIL

52 STREET

BLACKFOOT TRAIL

17 Ave

IVE

07 a rrive @ SKYVIEW RANCH

By PARTNERS DEVELOPMENT Group

16 AVENUE

RIVE

ELBOW DR

6 Saddlelake Place NE

04

01 MEMO 02 R IAL D 09

150 Redstone Grove NE www.kintalla.com

ANDERSON ROAD

DEERF

52 STREET

BARLOW TRAIL

GLENMORE TRAIL

SOUTHLAND DRIVE

114 AVE SE

OOT T RA

IL

W BO

NEW BRIGHTON

IL

Mac D LEO

U

MARQ

AIL

NE TR

LOR IS OF

COPPERFIELD

IL

TRA

T

EVIT S McK JAME

TRA

EK P ARK

M

TTO BO

CRE

SHAWNESSY BLVD.

06 Saffron

By Genesis Builder’s Group

68 STREET

14 STREET

16 AVENUE

FISH

13007 Coventry Hills Way NE www.coventrystation.ca

MCKNIGHT BLVD.

08

GLENMORE RESERVOIR

06

64 Ave

84 STREET

CRI J OW OHN CH L ILD AUR IE TR BLV AIL D.

FA L RID CON GE

NOSE HILL PARK

EDMONTON TRAIL

SH AG AN

921 - 1st Ave N.E.

07

ER

IL

HIL NTRY COU

11

COUNTRY HILLS BLVD.

FO OT TR AIL

VD. LS BL

02 n ext by bucci developments

STONEY TRAIL

13007 Coventry Hills NE CHAPARRAL

ABURN Two Bedroom, Two Bathroom Townhomes over 1150BAY sq. ft.

CRANSTON From the low $200s Located in the established community of Coventry Hills

www.CoventryStation.ca

587-896-6107 www.hometrader.ca | Volume 15 issue 12 | NEW Condo Guide 19

CONTEMPLATING CONDOMINIUMS

// Linda Palfi

ChoosE a Realtor who knows condos

Linda Palfi is a condominium-specialist Realtor with Discover Real Estate. She has overseen many condo projects as the chair of her condo board and is a member of the professional standards committee at the Calgary Real Estate Board. Further articles and her Calgary Condo Directory can be found online at CondosInCalgary. com or call Linda for more information at 403.998.7732

W

hether you’re buying or selling a condominium home, you deserve professional service from a Realtor who specializes in the field. Using the right Realtor could get an owner a sale in a slow market, such as wintertime, and could ensure that a condo buyer gets good value and buys only in a well-run condominium development.

Let’s start with those who are selling, and point out how many sellers are under-served when their condo home is marketed. While Realtor.ca, formerly MLS.ca, is a powerful marketing tool, used online by thousands of Canadians daily, it’s not half as powerful if there are no photos of the home beyond the building’s front door. No seller should be satisfied with their listing on Realtor.ca without numerous photos showing the layout and the light that their home offers.

Further, those photos should appear on a condominium website in addition to Realtor.ca. There are a handful of these in Calgary, and the locals are watching them for listed condo homes in specific neighbourhoods and even in specific buildings. If a Realtor doesn’t have such a site, or an affiliation with such a site, you might be waiting longer than necessary for an offer to buy your property. In some cases, a condo-specialist Realtor can bring seller and buyer together before even listing the property, simply through all the contacts and familiarity the Realtor brings to the table.

There are also issues a qualified Realtor can address, such as confirming the status of your parking and assembling the condominium documents that you might not have on hand. Some readers will remember my example of the sale that fell apart because the condo owner didn’t own the titled parking stall. A good Realtor will discover this early and deal with it in advance of the sale.

A condominium home shopper has many concerns that are best addressed by someone who specializes in the field. When considering housing options, for example, one Realtor will only know of houses, while the condominium Realtor will be able to summarize various condo buildings, townhouse developments, price ranges and lifestyle choices, all before you even go on the road to see them!

Specialized Realtors might also know of the perfect condo home that’s not yet on the market, so you’ll have first dibs on it. Both the seller and buyer like the convenience of being brought together without listing, marketing, dozens of viewings and perhaps weeks of delay. (You can read my column on this topic at condosincalgary.com) Lastly, buyers are best served by a condo-specialist Realtor who does not hurry them into their purchase decision. By the time you make an offer you should know why you’re buying, what you’re buying, and why you’re paying what you’re paying.

Be patient with yourself and require that your Realtor be equally patient. You’re buying a home and a major investment, not a blouse or a car.

In summary, condo sellers and buyers should demand more from Realtors.

Sellers deserve multi-photo and multi-website marketing, and access to buyers who need condominium homes. Buyers deserve a Realtor who doesn’t rush them, who knows the condo marketplace and who likely lives in a condominium home him/herself.

20 NEW Condo Guide | Volume 15 issue 12 | www.hometrader.ca

HOmeS frOm StateSman.

Personality from you.

Villas • Vistas • Views

The Landings is all about modern living - beautiful views over The Bow River Valley, high end finishing’s and maintenance free 2 & 3 bedroom Luxury Villas and Vistas built to the unrivalled high standard you’ve come to expect from Statesman.

Contact Us: Phone: (403) 262-5070 Web: cougarridgelandings.com

Visit Our Sales Center: 771 Patrick Street SW, Calgary, AB T3H 4B9

22 NEW CONDO GUIDE | VOLUME 15 ISSUE 12 | www.homeTRADER.ca

SHOW HOme nOW OPen

Developing Calgary for over 36 years

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CALGARY INTERNATIONAL AIRPORT

64 Ave

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OLD BANFF COACH ROAD

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BY SLOKKER

36 STREET

17 Ave

07 10

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15

Silverado Way & Sherrif King Rd

16

11

03 OVATION

BY INTERGULF CIDEX

#2105, 99 Spruce Place S.W.

BLACKFOOT TRAIL

ORE

1020 194th Ave S.W. www.hunterhouseliving.com

03

ELBOW DRI VE

NM

01 HUNTER HOUSE

BY STREETSIDE DEVELOPMENT 16 AVENUE

ME M O R I AL

37 STREET

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69 STREET

SARCEE TRAIL

13

12

85 STREET

14

16 AVENUE

32 Ave

EDMONTON TRAIL

ENU

14 STREET

16 A V

CENTRE STREET

SOUTHWEST COMMUNITIES

04 SANDERSON RIDGE

BY MEDICAN

2330 Fish Creek Blvd S.W.

06 SAWYER SILVERADO COMING SOON

GLENMORE RESERVOIR

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BY Avi Urban

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OOT T

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10 VICTORIA CROSS

BY AVI URBAN

132 Victoria Cross Blvd. S.W.

11 CURRIE BARRACKS

BY CANADA LANDS COMPANY

J5, 2953 Battleford Ave. S.W.

12 EIGHTY5NINE Coming Soon

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BY VERTICAL PROPERTIES

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WWW.CARDELLIFESTYLES.COM/CALGARY/RIVERSIDE www.homeTRADER.ca | VOLUME 15 ISSUE 12 | NEW CONDO GUIDE 23

ASE OF ES TO S YOU DOOR E YOU NSIDERAMILY TS ALL COMES E ENVI-

SOUTHEAST

YOU DESERVE BETTER (and Don’t Even Know It!)

B

eing a Building Science & Sustainability geek (yes, I am a geek) doesn’t have too many perks. We aren’t known for being brilliant conversationalists at parties. Oddly enough not too many people want to know about the perfect building envelope or the latest developments in heat pump technology.

But once a year we gather with more of our kind (insert “nerd herd” joke here) and discuss the latest developments in our industry. Such an event was held last month in Phoenix.

Now, it was my plan to write on another topic this month, (a truly brilliant piece of prose I’m sure), but that all changed with a session I attended at our conference. Paul Cardis is the CEO of Avid Ratings—not exactly a household name—but if you purchase a new home in North America, chances are you will see some of their work. Avid is a marketing research company and the majority of builders that use a service like theirs, work with Avid. Avid measures customer satisfaction with the product they have purchased—in this case, your new home. Paul’s presentation was based on data from hundreds of thousands of surveys completed North America-wide since 2010. Avid’s research indicates that the vast majority of consumers (over 75%) are satisfied with the energy efficiency of their home. Furthermore, almost the same majority believes that the building code is a good standard to build to. It was evident to everyone in the room at the time that the North American consumers don’t know that they should expect and receive better!

I want to be clear on one thing right from the start: the building code is a minimum set of standards that describes how a house can be built. It is not, by any description, a quality standard. If you are counting on the building code to guarantee you a quality home, you will be horribly disappointed. The Building code is concerned with 3 primary objectives: fire, safety and health. Environment is currently on the table as an addition, but its inclusion is at least a year away. The point I want to make here is that it is a minimum standard. You are spending a lot of your current and future hard-earned money on a home—don’t you think you deserve something better than the minimum standard? If you are spending $1000–$1500+ per month on a mort-

gage payment, is an extra $25–$30 too much more to improve the quality of your home? If not, then ask your builder what they do that goes beyond the building code. Ask what options they provide to improve the overall quality of the home.

The current Building Code doesn’t even really address energy efficiency. There is a small bit around minimum insulation levels and window performance, but these have remained largely unchanged since the 1980s. Minimum performance levels for furnaces and hot water tanks are not stipulated in the code directly—manufacturers have driven the improvements here. Consumers in the survey thought that all builders were building “green”. Nothing could be further from the truth. If you’re interested in sustainable development, demand third party verification. The cost is minimal and within 5–6 years home sellers will have to provide this to people buying a resale home anyway.

I don’t want anyone to get the wrong impression here. Alberta builders produce some really good quality products—but you can get better. The building industry is just a reflection of its market. We build what the consumer asks for. If the consumer asks for a better quality, more sustainable home, we will happily build it. Please ask. You deserve it.

DAVE TURNBULL

Product Development Manager Landmark Group

EnErgy EfficiEncy should comE standard. With us, it does.

| Volume 042NEW 24 NEW Condo CONDO Guide GUIDE | VOLUME 20 ISSUE | www.hometrader.ca trader.ca 15 issue 12 | 12 www.home

SOUTHWEST

www.homeTRADER.ca | VOLUME 15 ISSUE 12 | NEW CONDO GUIDE 25

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condo profile

Sawyer

Avi Urban

launches two new projects

in southwest Calgary // By Heather Ryan

a

vi Urban is building on the success of its recent townhome and condo projects with the launch this month of two distinctive new offerings in two vibrant southwest Calgary communities.

Located in Walden on Walden Drive, just steps away from shops and local amenities, Edison will be comprised of 156 three-storey townhomes with double-car attached garages, starting at an amazing price point in the mid-$200’s.

“Edison at Walden is the next generation of all the things we’ve learned from our past successes,” says Charron Ungar, president of Avi Urban, the multi-family division of Homes by Avi. “It’s the culmination 28 NEW Condo Guide | Volume 15 issue 12 | www.hometrader.ca

of years in research and feedback from our Avi Urban homeowners.”

For Edison, Ungar says they have brought together a “highly detailed and innovative architectural design with a studied approach to the latest trends and finishes.

We are creating what I believe will be Calgary’s most stunning example of a highly livable and extremely attractive townhome development.”

The townhomes will range from 1,130 to 1,400 sq. ft. and be designed based on the success of Avi Urban’s The Enclave at Castle Keep offering nine-ft. ceilings on the main floor and incredible standard features such as full-height tile backsplashes and extended height cabinetry.

Buyers will also be able to mix and match finish options inside and enjoy a fully landscaped central park, an Avi Urban signature in many of its developments.

“A highly functional yet stylish selection of home plans combine with amazing specifications at Edison,” Ungar says. “We have ensured the designs reflect the latest interior design trends in combination with

maximum value and functionality. The townhomes at Edison will prove to be both highly innovative and affordable.”

Buyers also benefit from having neighbourhood conveniences nearby at the Gates of Walden, which includes various shops, services, a local pub and a grocery store expected to be added in 2013, plus they have easy access to Macleod Trail and Hwy. 22.

For more information and to register, visit aviurban.com/edison.

Set in the heart of the established community of Silverado on Silverado Boulevard, Sawyer will be comprised of 138 apartment-style condos in three buildings.

Starting with a very affordable price point in the mid-$100’s the Sawyer condos will offer various floor plans ranging from 650 to 1,000 sq. ft.

“Avi Urban has been active in the downtown condo market. Taking experiences and knowledge from this market, we’re able to bring this inner-city perspective to south Calgary with Sawyer Silverado,” Ungar says.

“We are excited to have the opportunity to offer this innovative and fresh product perspective to our buyers,” he says. “We believe that our urban take on this product will bring together the benefits of affordability and established south Calgary amenities with the latest design concepts and building technology.”

Designed as a perfect fit into the established community of Silverado, homes at Sawyer feature underground parking and finishes that are anything but standard, including oversized windows and flat panel cabinetry. Again, buyers can mix and match Edison

finish options for their interiors along with being able to choose the colour of their front door from five stylish selections.

Sawyer’s three buildings will be arranged in a U-shape to allow for the creation of a beautiful landscaped circular courtyard featuring almost 250 trees.

Silverado also offers a great location with easy access to Hwy. 22 and Macleod Trail. Residents can enjoy neighbourhood conveniences at the Silverado Marketplace that includes shops, services and a grocery store, and it’s just minutes from fabulous Spruce Meadows.

Visitaviurban.com/sawyer to register and receive all the details.

Edison

SURVEY

INSURANCE PRODUCTS REMAIN A MYSTERY to Canadian consumers

A RECENT SURVEY CONDUCTED BY DESJARDINS GROUP as part of its Personal

Finance Index found that most Canadian consumers know very little about insurance products. To measure their general understanding of these products, eight personal money management questions were added to this year’s survey. The results indicated that:

// Only 44 per cent knew that not all insurance policies come with surrender value // Thirty per cent did not know whether their credit card came with travel insurance, whereas 32 per cent knew it did but knew little about the coverage itself.

In terms of other types of insurance, a third of respondents have refused a mortgage insurance product offered by a lending institution, without first assessing their financial situation or comparing costs with other mortgage insurance products available on the market. And less than half of the respondents showed a real understanding of how they were protected by their home insurance.

What’s the best way to start improving personal financial habits and to learn more about insurance? One way is to sit down with a financial advisor or an insurance representative.

These results indicate that there remains a gap in the public’s understanding of personal finance. We asked Reh Bhanji, an insurance expert from Desjardins Financial Security for his assessment. “Clearly, there is still much we can do as financial advisors to help Canadians improve their financial knowledge,” said Bhanji. “Of course, some people are uncomfortable to talk about money, but it actually can be fun. We have tools that help illustrate different scenarios which can help reignite a person’s enthusiasm towards their finances and insurance coverage. And it’s actually very important because it allows you to better manage life changes like a new addition to the family, a new home, a new job, etc.”

What’s the best way to start improving personal financial habits and to learn more about insurance? One way is to sit down with a financial advisor or an insurance representative to discuss your current life, health and disability insurance needs. A properly trained representative will then suggest a suitable product that offers the best protection. You may be interested in trying the online self-evaluation tool available on the Desjardins 30 NEW CONDO GUIDE | VOLUME 15 ISSUE 12 | www.homeTRADER.ca

Group’s Co-opme Program website at desjardins.com/co-opme. And here are two brief descriptions of some life insurance products to help get you started: › Permanent life insurance can be adapted to long-term goals and premiums can be paid as fixed amounts for the entire coverage period, in instalments or in full in a certain number of years. › Universal life insurance is very flexible and totally conforms to your needs because you can add or remove features and increase or decrease premiums at any time.

The savings component can be accessed anytime, barring any restrictions attached to the investment type, making this an ideal emergency or retirement fund.

For more information about these and other insurance products, visit the insurance product section of the Desjardins Financial Security website at desjardinslifeinsurance.com. NC

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05 STONE CREEK LANDING

BY CARLISLE GROUP 06 CHESTERMERE TOWNHOMES

BY SLOKKER CANADA WEST

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COCHRANE

#300 Marina Drive, Chestemere

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07 COURTYARDS OF KINGS HEIGHTS STRATHMORE BY MERGE DEVELOPMENTS

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BY ALDER CREEK HOUSING COMPANY Langdon, Alberta

09 THE VILLAGE

BY CALBRIDGE HOMES

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302 Sunset Pointe Cochrane, Alberta

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TURNER VALLEY

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BY STREETSIDE DEVELOPMENTS

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604 East Lake Blvd N.E. Airdrie, Alberta

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201 Sunset Drive, Cochrane, Alberta

01 RIVERSTONE AT COCHRANE

BY SLOKKER CANADA WEST INC.

03 PENNCROSS

BY STREETSIDE DEVELOPMENTS

02 CREEKSIDE VILLAGE - AIRDRIE

BY CARLISLE GROUP

04 LAREDO PLACE

BY TRICO HOMES

240 Riverview Drive in Cochrane

8th & MacKenzie Way Airdrie, Alberta

127 & 129, 1 Crystal Green Lane, Okotoks, Alberta

13 HEARTLAND TOWNHOMES LETHBRIDGE

BY EXCEL HOMES 1178 Clydesdale Way, Cochrane, Alberta

112 - 28 Heritage Drive Cochrane, Alberta

www.homeTRADER.ca | VOLUME 15 ISSUE 12 | NEW CONDO GUIDE 33

NORTHWEST

SYMONS VALLEY RANCH

772

SAGE HILL DR NW

SAGE VALLEY DR

SALES CENTRE

N Symons Valley Rd Beddington Trail NW

SAGE VALLEY RD NW

144 Ave NW

THE COMMUNITY OF

PANORAMA HEIGHTS NW

201

34

NW rail ey T n o St

NORTHWEST COMMUNITIES

AIL TR AP I SH

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JO HN CR LA OW UR 14 IE CH BLV ILD D. T R 08 AIL

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11 PIXEL

BY BATTISTELLA

CALGARY INTERNATIONAL AIRPORT

1120 Kensington Road NW

12 ST. JOHN’S 10TH STREET IN KENSINGTON

BY STREETSIDE 10th Street & 3rd Avenue NW

12 11

AveSAGESTONE 32 13

BY GREENVIEW DEVELOPMENTS

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BY GENESIS BUILDERS GROUP

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69 STREET

85 STREET

10 PROSPECT RISE

BY AVI URBAN

W

16 AVENUE

GLE 01 PANORAMA WEST NM ORE

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14 ST RE ET

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03

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BLVD S L IL 05 TRY H N COU BED DIN GTO NT RA

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HA RV BLVEST H D N ILLS E

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CENTRE STREET

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16

11

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10

14 STREET

NS

07 SAGE HILL VILLAGE

BY SLOKKER CANADA WEST INC.

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37th Street and Kincora Glen Road N.W.

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www.homeTRADER.ca | VOLUME 15 ISSUE 12 | NEW CONDO GUIDE 35

style file

GET FRIENDLY WITH Fabrics How to mix and match …tastefully // by Yanic Simard

When it comes to fashion,

patterns are mixed together all of the time. So, you shouldn’t be fearful of combining patterns in a room to make it come to life. The trick is to do it tastefully – without creating a décor disaster.

Here, I share my tips for combining patterns the right way: Begin Bold Start with one strong

pattern – strong could mean thick lines, a particularly busy pattern, or very saturated colours – and build upon it.

Balance of Scale The goal is for your patterns to complement one another, not work against one other; try to have an even mix of busy and subtle.

Soften Prints with Solids A fabrics without a pattern acts as a staple to all schemes. It’s sort of like the bread to a sandwich – things won’t look (or taste) good without it.

One Colour, Different Shades A more simplified way of mixing patterns is to keep it monochromatic. Select patterns of one colour but choose varied shades (for example, light blue mixed with medium and dark blue).

Yanic Simard is the principal designer of the Toronto Interior Design Group. Specializing in residential and commercial projects, Simard often applies his signature high/low and old/new combination design techniques in developing unique designs. Simard has created designs for clients in Toronto, Montreal and Miami, and has appeared as a regular guest expert on Citytv’s CityLine. For more information visit tidg.ca.

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STYLE FILE CONTINUED… Don’t Over-coordinate You want

to avoid having your fabrics too “matchy-matchy.” If you’re using the same or similar pattern in more than one area, limit it to two places and have them spread far enough apart.

My Favourite Patterns: GINGHAM This printed or dyed

fabric, which dates back to the 17th century, is known for its checked patterns of white and a single bold colour (you’ll often catch me wearing this pattern). The size of the checks can vary in size, and the checks can appear in horizontal rows and vertical columns, or sometimes diagonally.

PINSTRIPE A classic pattern consisting of very thin stripes running in parallel. It is most recognized in men’s suits and is very striking in home décor.

CHEVRON A repetitive pattern comprised of sharp ledges that

look like the letter “V” (sometimes called herringbone or zigzag). This is on trend right now.

Textile Tips: 1 Choose soft furnishings that will work in any room of your home, so that

when you’re ready to change up your décor you can swap pillows, throws, drapery, etc. from room to room.

2 If you’re just starting to re-decorate a room, a textile that you love is a great way to draw inspiration for the entire scheme. Pull the colours, lines, shapes and feel from the pattern on the fabric.

3 When selecting a fabric, keep its application in mind and consider these two important details: ›› DURABILITY Look at the rub count – if the textile you’re considering is for upholstery and a piece that will be used often, the higher rub count the better. If it’s for drapery, a lesser rub count is suitable. Also, fabric with a higher thread count means a tighter weave, which is key to having fabric maintain its shape over time. ›› CLEAN-ABILITY Fabrics made of natural fibres will absorb stains much quicker than man-made fabrics, but they will clean up better. Fabrics made with man-made fibres are typically soil-resistant but don’t clean up as well.

38 NEW CONDO GUIDE | VOLUME 15 ISSUE 12 | www.homeTRADER.ca

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insurance needs

How to avoid

BIG PROBLEMS IN SMALL SPACES Whether a first-time homebuyer or downsizing from a house, millions

of Canadians are choosing to nest in smaller, more convenient and affordable condominiums. At first glance, condo life seems worry-free and this is the reason many prefer this real estate option. However, when purchasing a condo, many Canadians don’t consider the risks associated with non-insured damage to the unit. When purchasing a house, insurance is typically one of the first things accounted for when moving in.

Unfortunately, insurance is often overlooked by condo owners, since most are unsure of what they are responsible for should any damage occur.

The following questions have been provided by insurer RSA to help new condo owners determine how much protection they have under their condo corporation’s insurance policy and what they need to be aware of.

Ask your Realtor, lawyer or property manager the following questions for more clarity: 01 W hat does the condo corporation’s insurance cover and, more importantly, what doesn’t it cover?

02 Does the corporation’s policy cover just the structure and common areas of your building or complex, or more (such as damage to your unit’s walls)?

40 NEW Condo Guide | Volume 15 issue 12 | www.hometrader.ca

03 If there is major damage to

your building, is it possible that you would have to make an additional contribution to cover the deductible of the condo corporation’s insurance policy?

04 W hat is the deductible in the corporation’s insurance policy?

05 A re you responsible for the full cost of repairs to another condo, or the full deductible on the corporation’s policy if, for instance, your dishwasher leaked or your bathtub overflowed and damaged the unit below?

06 How is a “standard unit” defined by your condo corporation?

Does it cover things like fixtures, ceilings and floors?

To find a broker who can explain the common types of condo insurance and what is right for you, visit the broker locator section at rsagroup.ca. NC

FA L RID CON GE

64 Ave

MCKNIGHT BLVD.

EDMONTON TRAIL

14 STREET

CENTRE STREET

INTERNATIONAL AIRPORT

16 AVENUE 12 AVENUE

68 STREET

CRI J PARK OW OHN CH L ILD AURI EB TRA LVD IL .

32 Ave

16 AVENUE

SOUTHEAST COMMUNITIES RIVE RIAL D

MEMO

RIAL D RIVE

36 STREET

MEMO

17 Ave

09 MONARCH

BY COVE PROPERTIES

52 STREET

ELBOW DRI VE

BLACKFOOT TRAIL

17 Ave

316 McKenzie Towne Gate SE

10 MCKENZIE TOWNE ELGIN

BY BROOKFIELD HOMES

MacLEOD TRAIL

585 McKenzie Town Drive SE

GLENMORE TRAIL

ANDERSON ROAD

DEERF

07

16

AIL

TR

Mac

14 BOULEVARD TOWNES

BY BIRCHWOOD

11 05 02 18

116 Quarry Park Way SE

COPPERFIELD

15 EDISON COMING SOON

BY AVI URBAN

F LO UIS O

D TR

MARQ

AIL

VITT

McKE

06 08 RAIL 09 10 RNE T

LEO

S JAME

SHAWNESSY BLVD.

206 Cranford Drive SE

NEW BRIGHTON

M

EK P ARK

290 Chaparral Valley Drive SE

13 MOSAIC CRANSTON

BY BROOKFIELD HOMES

OOT T RAIL

TTO BO

CRE

12 INNOVATIONS

BY JAYMAN CHAPARRAL VALLEY

114 AVE SE

W BO

FISH

1797 Copperfield Blvd SE

84 STREET

14

52 STREET

19

SOUTHLAND DRIVE

BARLOW TRAIL

GLENMORE RESERVOIR

11 CHALETS IN COPPERFIELD

BY SABAL HOMES

CHAPARRAL CRANSTON

01 12 15 02

13

20 21

aviurban.com

16 YORK 29

BY TRICO HOMES

ABURN BAY

03 04

120 New Brighton Landing SE

17 MOSAIC MIRAGE

BY BROOKFIELD HOMES

13

McKenzie Towne-Coming Soon

18 AURA OF COPPERFIELD

BY ALDEBARAN HOMES 279 Copperfield Common

01 RIVERSIDE TOWNHOMES IN CHAPARRAL VALLEY

BY CARDEL LIFESTYLES

05 MINT

BY JAYMAN MODUS

02 COPPERFIELD PARK

BY BRAD REMINGTON HOMES

06 ZEN

BY AVALON MASTER BUILDER

03 AUBURN BAY

BY BROOKFIELD HOMES

07 PRESTWICK PLACE

BY CARDEL LIFESTYLES

121 Chaparral Valley Drive SE

279 Copperpond Common S.E.

174 Auburn Bay Blvd SE

04 MOSAIC LAKESIDE AUBURN BAY

BY BROOKFIELD HOMES 27 Auburn Bay Link SE

19 CHAMPAGNE

BY REMINGTON DEVELOPMENTCORPORATION

130 New Brighton Way SE thatsmint.ca/live

Quarry Park Blvd SE remingtoncorp.com

3510 McKenzie Town Gate SE

20 CRANSTON PLACE CONDOS

BY CARDEL LIFESTYLES 302 Cranston Road SE

115 Prestwick Villas SE

21 CRANSTON PLACE TOWNHOMES

BY CARDEL LIFESTYLES

08 MOSAIC MOTIF IN NEW BRIGHTON

BY BROOKFIELD HOMES

302 Cranston Road SE

317 New Brighton Villas SE

COPPERFIELD PARK LOVE IT. LIVE IT. AFFORD IT.

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www.copperfieldpark.com 403.723.0094 www.homeTRADER.ca | VOLUME 15 ISSUE 12 | NEW CONDO GUIDE 41

CHBA–ALBERTA INDUSTRY LEADER

AWARDS

zz

RECOGNIZING ALBERTA INDUSTRY LEADERS

At the Canadian Home Builders’ Association – Alberta Annual Conference the Industry Leaders Awards were presented to a group of noteworthy volunteers. These awards recognize leaders in the residential construction industry for their commitment to make the industry better.

zz

zz

zz

CHBA–ALBERTA

INDUSTRY LEADER AWARDS HALL OF FAME INDUCTEE AVI AMIR | HOMES BY AVI | CALGARY CHBA – Alberta Hall of Fame inductions are not done every year because of the significance of the honour. This year’s inductee is Avi Amir of Calgary. Avi has been a passionate advocate for high standards, quality control, superior customer service, environmentally sound building practices and sustainable development. His leadership through volunteerism and industry involvement has ignited the interest of many members of his company to follow his example by contributing greatly to CHBA – Alberta, as well as local and the national associations.

GEORGE FRIESER AWARD DEEP SHERGILL | PROMINENT HOMES | CALGARY This award is presented to a special person who has served the association for a number of years at the highest of levels and with the largest degree of success and commitment. It is the highest award that can be given at the provincial level. This year’s recipient is Deep Shergill of Prominent Homes in Calgary. Deep is a dedicated volunteer contributing to the Association at the local, provincial and national levels. He brings enthusiasm, energy and new ideas to the table at every discussion.

KLAUS SPRINGER AWARD RUSSELL DAUK | ROHIT COMMUNITIES | EDMONTON This award is presented each year to a builder member who has done excellent service at the provincial level of our Association. Russell Dauk of Rohit Communities in Edmonton was this year’s recipient. Russell’s efforts at advocacy for the home building and land development industry are absolutely tireless. His knowledge, attention to detail, dedication and desire to come up with solutions to the problems the industry faces each day make a strong impact on discussions with decision makers.

MAPLE LEAF AWARD RAY WATKINS | G3 DEVELOPMENTS | EDMONTON This major award is given to a general member who has demonstrated leadership and dedication for work at the provincial level. This year’s recipient is Ray Watkins from G3 Developments in Edmonton. Ray is a strong contributor to discussions with provincial decision makers. His work has built a stronger relationship between UDI Alberta and CHBA – Alberta.

AWARD OF HONOUR This award is presented to dedicated volunteers who have done significant work at the local and provincial levels of our Association.

GRANT AINSLEY GRANT AINSLEY INC EDMONTON

JOEL MAYER DIRHAM HOMES GRANDE PRAIRIE

JEREMY GOOK ANAKO CONSTRUCTION LETHBRIDGE

KEN GORGICHUK OVERHEAD DOOR COMPANY GRANDE PRAIRIE

DAN MOUNT & ANDREW THOMPSON PLY GEM EDMONTON-CALGARY

LEN WALTERS COVENTRY HOMES EDMONTON

Dan Mount accepting

Chris Amundson accepted on behalf of Len

PRESIDENTIAL AWARD OF HONOUR This special award is presented to a CHBA - Alberta member to recognize outstanding efforts that have served to assist the president during her term.

zz GREG CHRISTENSON CHRISTENSON DEVELOPMENTS EDMONTON

zz DEEP SHERGILL PROMINENT HOMES CALGARY

SAFETY LEADERSHIP AWARDS These awards are presented to companies that set themselves apart by creating a culture of safety ensuring that their co-workers get home safely.

Large Employer Builder Member

LANDMARK GROUP OF BUILDERS EDMONTON

Large Employer General Member

LEE’S SHEET METAL GRANDE PRAIRIE

Brad Jones accepted on their behalf

Small Employer Builder Member

BROADVIEW HOMES CALGARY

Small Employer General Member

CARPET COLOUR CENTRE RED DEER

DEBT POLL

MORE CANADIANS are debt-free in 2012

2012 IS A BETTER YEAR THAN 2011 FOR CANADIANS’ pocketbooks. According to the second annual RBC Debt Poll, more Canadians have no personal (non-mortgage) debt this year (26 per cent, up from 22 per cent in 2011).

On average, Canadians carry $13,141 in personal debt, up $84 from a year ago, with Ontarians carrying the most debt ($15,361) and Quebecers the least ($10,171).

While four in 10 Canadians (40 per cent) describe themselves as “comfortable” with their current personal debt level (compared to 45 per cent in 2011), one-inthree Canadians (34 per cent) admit their debt level causes them anxiety (compared to 32 per cent in 2011).

“Many Canadians have some level of comfort with their personal debt, but the very personal nature of carrying debt can often stir up mixed emotions,” says Richard Goyder, vice-president of personal lending, RBC. “It’s encouraging that the results show more Canadians have become debt-free over the past year and that those who still have debt want to do more to reduce it.”

The poll found that just over half of Canadians (51 per cent, compared to 49 per cent in 2011) say it is more important to pay down debt than save and invest for the future right now. Four in 10 (41 per cent, down from 44 per cent in 2011) place an equal importance on saving and investing, as well as paying down debt.

52 STREET SE

DEERFOOT TRAIL

McKENZIE TOWNE

SE

D VAR ULE BO Mc KE NZ IE TO W

NE

Meanwhile, a minority of Canadians (eight per cent) think now is the time to save and invest for the future, rather than pay down debt.

Similar to a year ago, caution around adding to their debt load has led some Canadians to delay or cancel purchases or plans, such as taking a vacation (26 per cent, compared to 24 per cent in 2011) and buying a big ticket item (19 per cent, compared to 20 per cent in 2011).

Also, like in last year’s poll, three-quarters of Canadians (76 per cent) feel they are in better shape regarding their personal debt than their friends and neighbours (compared to 75 per cent in 2011).

GA TE

SE

CG 2012-11.indd 1 15 ISSUE 12 | www.homeTRADER.ca 46 NEWZEN CONDO GUIDE | VOLUME

01-11-12 12:22 PM

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51

HOME SMARTS

When personal becomes professional

// BY MARNIE BENNETT

ASSEMBLING YOUR HOMEBUYING TEAM

Marnie Bennett is a broker and the team leader of Bennett Property Shop Realty, a full premium-service five-star real estate brokerage specializing in marketing and selling new and resale homes, condos and investment real estate. Marnie is the host of the weekly radio shows, The Real Estate Hour and Business Class, a millionaire real estate investor and a real estate wealth management coach. bennettpros.com

M

ost of you would agree that meeting the love of your life is a monumental event.

From observing my clients over the last 30 years, I’d argue that falling in love with a home runs a close second. Walking into a new home or model and feeling your pulse quicken is a magical sensation.

When you feel a strong personal connection with a certain place, you won’t sleep until it’s yours.

It may seem strange that such a personal experience involves working with so many other people. But when you’re making the biggest financial investment of your life, it’s always wise to depend on the advice and expertise of professionals. Depending on your personal circumstances, you may consider consulting with a few key players. ›› Mortgage specialist Ideally, you will have met with a mortgage broker, bank or lending institution prior to beginning your home hunt. Understanding how much money you have to work with is an excellent first step to narrowing your search, and obtaining a pre-approved mortgage can save both time and grief in the long run. ›› Realtor While it’s possible to purchase a new home without the assistance of a Realtor, there are several benefits – and no drawbacks – to having a real estate professional in your court. Realtors understand the market and can provide terrific insights on neighbourhoods, investment values and negotiating with a builder. Best of all, there’s no cost associated with hiring a Realtor to purchase a home. ›› Real estate lawyer This is an absolute must. A good lawyer will walk you through the paperwork, explain fees and protect you from real estate fraud. ›› Home inspector Because new homes in Ontario are covered under by Tarion Warranty Corp., and because a pre-delivery inspection with the builder is part of the new-home buying process, many purchasers of new homes choose not to hire a home inspector. However, I often encourage my clients to spend the few hundred dollars it costs to ensure that their new home has been built to code.

Most homebuyers are smart cookies. But, in matters of love, the heart rules the head. That’s why, when it comes to buying a home, it pays to have professionals do some of the thinking for you.

It may seem strange that such a personal experience involves working with so many other people 52 NEW CONDO GUIDE | VOLUME 15 ISSUE 12 | www.homeTRADER.ca

homebuyers’ help

Condo Buyers’ Resource Section You love the condo, see what you can afford!

Compare mortgage rates for your best deal alculate your mortgage payments using the C mortgage payment calculation chart

HOMEBUYERS’ HELP

YOU LOVE THE CONDO, SEE WHAT YOU CAN AFFORD! INTEREST RATES

CALCULATE YOUR MORTGAGE PAYMENTS

AMORTIZATION PERIODS

% 5 YEARS

10 YEARS

15 YEARS

20 YEARS

25 YEARS

5.00%

18.84

10.58

7.88

6.57

5.81

5.25%

18.96

10.70

8.00

6.70

5.95

5.50%

19.07

10.82

8.13

6.84

6.10

5.75%

19.18

10.94

8.26

6.98

6.25

6.00%

19.29

11.06

8.39

7.12

6.39

6.25%

19.41

11.18

8.53

7.26

6.54

6.50%

19.52

11.31

8.66

7.40

6.69

6.75%

19.63

11.43

8.79

7.54

6.85

7.00%

19.75

11.55

8.93

7.69

7.00

7.25%

19.86

11.68

9.06

7.83

7.15

7.50%

19.98

11.81

9.20

7.98

7.31

7.75%

20.09

11.93

9.34

8.13

7.47

8.00%

20.21

12.06

9.48

8.28

7.63

8.25%

20.32

12.19

9.62

8.43

7.79

MONTHLY PRE-TAX INCOME

SPOUSE’S PRE-TAX INCOME

TOTAL PRE-TAX INCOME

DIVIDE

BY THREE

AFFORDABLE MONTHLY PAYMENTS

AMOUNT OF MORTGAGE (PRICE-DOWN PAYMENT)

CHART FIGURE

AMOUNT OF MORTGAGE DIVIDED BY 1,000

AMORTIZATION AMOUNT

AMORTIZATION AMOUNT

ESTIMATED MONTHLY TAXES AND HEAT

MONTHLY PAYMENTS

FOLLOW THESE STEPS TO SEE IF YOU’LL QUALIFY FOR A MORTGAGE ON YOUR DREAM CONDO

01

Calculate the combined monthly before-tax income of you and your spouse.

Multiply this figure by the amount you need to borrow.

Divide by 1,000.

02

Divide by three. This figure is the monthly payment you can afford to make on your condo.

06

Add to this your estimated monthly heating costs and monthly property taxes.

03

07

Take the total price of the condo and subtract the amount of money you expect to make as a down payment. This is the money you will have to borrow.

04

Refer to the chart on the opposite page. Look down the left column and locate the interest rate you expect to pay. Line this up with the amortization period of your choice.

(Most first-time buyers take the 25-year amortization.)

05

If this figure is equal to or less than one-third of your gross monthly income (calculated in Step 2), you’ll qualify for a mortgage on your dream condo.

Bear in mind that this is a rough estimate.

If you have several other large loans already, you may qualify for less. Also, banks and trust companies vary in their policies.

The best way to know what you can afford is to go to the lending institution of your choice and get pre-qualified.

54 NEW CONDO GUIDE | VOLUME 15 ISSUE 12 | www.homeTRADER.ca

COMPARE MORTGAGE RATES FOR YOUR BEST DEAL VARIABLE

AGF Trust Bank of Montreal Bank of Nova Scotia Bridgewater Bank CIBC Mortgages Canadian Western Bank Equitable Trust First Calgary Financial First National Financial FirstOntario Credit Un. HSBC Bank Canada ING Direct Investors Group Trust Manulife Bank Manulife Trust Meridian Credit Union National Bank Peace Hills Trust President’s Choice Fin’l Servus Credit Union T-D Mortgage

3.100 3.100 3.200 3.200 3.000 2.790 3.100 3.000 3.000 3.000 2.850 3.200 3.100 3.200

6 MONTHS

4.650 4.000 4.550 4.450 4.000 4.000 3.950 4.240 4.450 4.000 4.450 4.450 4.450 4.000 4.500 6.040 4.000 4.000

1 YEAR

3.040 3.100 3.650 3.240 3.100 3.100 3.100 2.390 2.740 3.090 3.600 3.250 3.100 3.000 3.000 3.100 3.100 3.100 3.140 3.100 3.000

2 YEARS

3 YEARS

4 YEARS

5 YEARS

3.200 3.140 3.890 3.390 3.290 3.140 3.140 3.140 2.690 3.190 3.950 3.250 3.140 3.100 3.100 3.140 3.140 3.350 3.200 3.140 3.140

3.240 3.700 3.990 3.250 3.700 3.700 3.700 2.990 2.890 3.240 4.450 3.250 3.700 3.150 3.150 3.700 3.700 3.700 3.240 3.700 3.700

3.340 4.640 4.390 3.570 4.390 4.640 4.640 3.290 3.150 3.290 4.990 3.250 4.640 3.150 3.150 3.400 4.640 3.850 3.300 4.390 4.640

3.490 5.240 4.990 3.250 5.240 5.240 5.240 3.290 3.190 3.240 5.240 3.190 5.240 2.950 2.950 3.280 5.240 3.950 3.340 5.240 5.240

This information is current as of November 9, 2012 and is subject to change without notice.

MORTGAGE OPTIONS You can choose any of these mortgage options which fit into the two basic mortgage types. Lenders may even customize these options to suit your needs.

All mortgages are of two basic types:

CONVENTIONAL

OPEN MORTGAGE

Buyer can borrow up to 75 per cent of the purchase price or the value of the property, whichever is less.

Buyer has to pay 25 per cent down.

A conventional mortgage cannot exceed 75 per cent of the value of the property.

Allows borrowers are to repay all or part of the total amount of their mortgage at any time without penalty.

Because of flexibility, this is ideal for borrowers who plan to sell their homes in the near future or who want to switch from a short-term mortgage at high-interest rates to a longer term when mortgage interest rates fall.

INSURED OR HIGH-RATIO Buyer can borrow up to 95 per cent of the purchase price or the value of the property, whichever is less.

The down payment can be as low as five per cent.

CLOSED MORTGAGE This usually has the lowest interest rate available but lacks the flexible features of other mortgage options. It’s a good

choice for those who want the security of knowing their monthly payment is fixed for a longer term. Prepayment options are available but they are subject to conditions.

PORTABLE MORTGAGE Offers flexibility if borrowers move.

Borrowers can take the mortgage to their new home or can transfer it (usually with the consent of the lender) to the purchaser of their old home.

This is an attractive option if the rate on the existing mortgage is lower than current rates.

www.homeTRADER.ca | VOLUME 15 ISSUE 12 | NEW CONDO GUIDE 55

homebuyers’ help

Condo hunter’s checklist When shopping for your dream condo, carry this list with you and take notes to help you remember what you saw, and where! condo #1

condo #2

condo #3

condo #4

Project & address:

Project & address:

Project & address:

Project & address:

Salesperson:

Salesperson:

Salesperson:

Salesperson:

Phone:

Phone:

Phone:

Phone:

Developer/builder:

Developer/builder:

Developer/builder:

Developer/builder:

Type:

Type:

Type:

Type:

2-storey highrise bungalow

detached conversion townhome

2-storey highrise bungalow

detached conversion townhome

2-storey highrise bungalow

detached conversion townhome

2-storey highrise bungalow

detached conversion townhome

Sq. Footage:

Sq. Footage:

Sq. Footage:

Sq. Footage:

# of bedrooms:

# of bedrooms:

# of bedrooms:

# of bedrooms:

# of bathrooms:

# of bathrooms:

# of bathrooms:

# of bathrooms:

Interior appliances:

Interior appliances:

Interior appliances:

Interior appliances:

Options:

Options:

Options:

Options:

Parking facilities:

Parking facilities:

Parking facilities:

Parking facilities:

Special incentives:

Special incentives:

Special incentives:

Special incentives:

Price:

Price:

Price:

Price:

Down payment:

Down payment:

Down payment:

Down payment:

Condo fees:

Condo fees:

Condo fees:

Condo fees:

Financing available:

Financing available:

Financing available:

Financing available:

Other comments:

Other comments:

Other comments:

Other comments:

56 NEW Condo Guide | Volume 15 issue 12 | www.hometrader.ca

Index of advertisers

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Carlisle Group

50-51

Mark on 10th

Qualex

1, 9-11

Mint

Jayman Modus

47

Pixel

Battistella

15

Prospect Rise

Avi Urban

26-27

Riverfront Pointe

Carlisle Group

50-51

Riverside

Cardel Lifestyles

Sage.stone

Greenview Developments

Sawyer

Avi Urban

Silverado

Slokker Canada West Inc.

Sonoma

Vertical Properties

Stone Creek Landing

Carlisle Group

38

3 50-51

25 50-51 12

49

23 34 26-29 55 4 50-51

Swan Landing

Swan Group

37

Taralake

Slokker Canada West Inc.

18

Varsity Landing

Carlisle Group

50-51

Victoria Cross

Avi Urban

26-27

The Villas of Swan Landing

Swan Group

Waterfront

Anthem Properties

5

Zen – McKenzie Towne

Avalon Master Builder

46

45

www.hometrader.ca | Volume 15 issue 12 | NEW Condo Guide 57

Streetside Developments

Pullout Insert

58 NEW Condo Guide | Volume 15 issue 12 | www.hometrader.ca

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060-Copperfield 11-16-12.indd 60

11/9/12 3:57:40 PM