Blog Post

January 2016 Market Report

  • By Ali Mamdani
  • 06 Jan, 2016
Changes to Minimum Home Down Payment Rules

Starting on February 15, 2016, the Federal Government is doubling the minimum down payment for insured mortgages to 10% from 5% for the
portion of a home’s value from, $500,000 to $1-million.

Down payment rules for mortgages on properties selling for less than $500,000 will be unchanged. The government had already restricted mortgage insurance to homes values at less than $1-million, and the new rules leave the minimum down payment for more expensive homes
unchanged at 20%. According to the Finance Minister, Bill Morneau, the new rule will help create stability for the overall market, as well as help ensure Canadians take the right approach to investing in a home. - source, The Globe and Mail 

Keeping Mice Out
Mice seek the shelter of warmer locations once winter weather hits. Often, people are not aware of the population boom that is occurring with this invasive species in their attic or basement until the occasional mouse droppings and urine are discovered around food, furniture and storage areas.

Here are some ways to keep mice out:
  1. Install door sweeps on exterior doors and repair damaged screens.
  2. Screen vents and openings to chimneys.
  3. Seal cracks and holes on the outside of the home, including areas where utilities and pipes enter the home, using caulk, steel wool or a combination of both. 
  4. Keep attics, basements and crawl spaces well ventilated and dry.
  5. Replace loose mortar and weather stripping around the basement foundation and windows.
  6. Eliminate all moisture sites, including leaking pipes and clogged drains that provide the perfect breeding site for pests.
Market Stats
JAN 4, 2016 - ACCORDING TO CREB(referencing metro Calgary stats only)...

Housing market characterized by slow demand. Elevated supply levels placed downward pressure on prices in December. With the focus shifting toward the holiday season, Dec sales activity slowed to 878 units in the city, 18% below last year at this time and well below the
five and 10-year averages.

ACTIVE LISTINGS as of January 4, 2016⁕ // SALES for Dec 2015⁕
COUNT AVERAGE PRICE AVERAGE DOM

Single Family 4331 // 809 $749,563 // $520,538 86 // 56

Condominium 2353 // 334 $413,666 // $338,401 82 // 58

Combined 6684 // 1143

Rural with Home 0 // 0 n/a // n/a n/a // n/a

Rural Land 528 // 19 $874,580 // $366,647 319 // 301

Total Rural 528 // 19

Total MLS 7212 // 1162

⁕ All numbers gathered for the Listings and Sales stats are compiled from metro Calgary and rural southern Alberta areas

CALL NOW for A FREE MARKET EVALUATION

At CIR REALTY meeting all of your real estate needs is our goal.

We look forward to hearing from you as we are happy to answer any questions you may have.
By Ali Mamdani 04 Oct, 2017
Many home owners are fortunate to have a property with mature trees and shrubs. Although it is always best to save a tree when you can, there may be times when you question tree removal as an option for aesthetic or safety purposes. 

Here are three questions to ask yourself before making a decision:

1.   Is it causing structural damage?

Tree roots can grow to the surface and change the drainage pattern across a property. In some cases, they can block water and keep it from running away from a house or yard. A tree planted too close to a house can lift a walk, rot the eaves and drop juicy berries
that are then tracked through the house.  

2.   Is it making the property difficult to use?

 If a tree robs you of the ability to do what you would like to on your property, then removing it might be the answer. But first, try to include it in your plans. The trunk can be incorporated into a deck or patio design. The effect of making an opening in a deck
for the tree to grow through is quite pleasing.

3.   Can tree removal help the space?
If healthier and more desirable species will be planted in place of the one that was removed, it can be good for
the environment. In a natural woodland setting, removing certain trees can help the ecosystem. For
example, the removal of leggy, weak pines will make space for the more desirable native hardwoods.
By Ali Mamdani 03 May, 2016
“Should I sell in this Buyer’s Market or wait until we’re in a Seller’s Market again?”
By Ali Mamdani 15 Apr, 2016
Increases to income tax rates brought in by the new provincial government have come fully into effect in after being partially implemented in October of 2015.
By Ali Mamdani 15 Apr, 2016
Let’s be honest, nothing really matters unless you know how you’re going to pay for your next home or investment property. The reality is that anyone (and I mean anyone) can find the money to purchase a home. In fact, we have seen people who are over $70,000 in debt, unemployed, and on the verge of bankruptcy purchase not one, but multiple homes at the same time. Sound impossible?
By Ali Mamdani 15 Apr, 2016
Many people want to know what the secret is to getting the most out of their real estate and to appeal to most consumers looking for real estate today. This report will guide you through doing many of those things to help get the most dollars when selling your property.
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