Monthly Archives: June 2014

Where will Calgarians be buying holiday homes?

The iconic Three Sisters near Canmore, AB

The iconic Three Sisters near Canmore, AB

An article in the Invermere, BC newspaper touches on the subject of real estate values in resort communities such as Canmore and Invermere. The reporter sought input from me and the reknowned expert Garth Turner of GreaterFool.ca fame. Columbia Valley Pioneer “Real estate market in valley may not be stable expert warns.”

The market in Canmore has turned around remarkably in the past six months. Inventory is low, attractive homes are selling quickly, and Calgarians are buying them up. Prices are on the increase.

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Ontarians to move to Calgary in droves

The election of the Liberal majority in Ontario has just ensured a continued shortage of housing in Calgary along with increasing prices.

The Twittersphere is choc-a-block full of disillusioned entrepreneurs, trades people and others who will be immigrating to Alberta, the land of opportunity.

“If the Liberals win a majority, I will emigrate from Onterrible.”

“Ontario will be the next Detroit. Bankruptcy on the horizon.”

“Trades will come as there will no longer be a need for them in Ontario.”

Hudak: “I’m moving to Alberta. Good luck.”

“Would the last business in Ontario please turn out the lights (if you haven’t already been cut off for not paying your exorbitant bill).”

“A corrupt government under police investigation is rewarded with a majority. The province is corrupt at this point.”

“To all the hardworking refugees, welcome to Saskatchewan. Move to a place where hard work and initiative still count for something”

“How bout Saskatchewan? Us and Alberta are the two economic powers now. We will take Ontario’s trades and businesses.”

“here is a business case for distribution centres going west, who should I talk to?”

“What other companies will move to Calgary? Debt, taxes, electricity costs, regulations, unemployment, housing costs, HST. Plus the Rockies.”

“The move to Alberta is looking more and more appealing.”

“To the thousands of Ontarians who aren’t content with decline, you’re welcome in Alberta.”

“My prediction: before Wynne is done, a national bank will move its head office to Calgary. Ontario’s have-not status is the new normal.”

“Breaking: Ontario to be renamed Detroit”

Welcome to Calgary. I hope you can find suitable housing. Our inventory of resales is low, new build inventory is low, and the rental vacancy rate is nearly the lowest in the country. Competition for the few homes available is going to be fierce.

Calgary prices post-flood

It’s enlightening to look back and see what the experts were predicting about Calgary real estate immediately after last June’s flooding. One got it right, one got it wrong. Mike has the details on his blog http://calgaryrealestatereview.com/2014/06/08/june-1-7-2014-calgary-real-estate-statistics-trends/

Profit in past year: $37,000

Market update for May 2014

If you bought an average-priced house in May last year, you’ve just made a profit of $37,000. The median price has risen from $453,000 in 2013 to $490,000 today. If you bought at the previous peak in 2007, you’re now up $55,000.

Inventory vs sales and price2

With 31% of homes selling for list price or higher, it’s still a frenzied market for buyers, but a sign of hope: new listings are up by 12%.

For a more detailed summary of the month-end stats , go to my website