Archive for the ‘Calgary’ Category
Thursday, July 10th, 2008
Alberta Bubble
As posted in the comments section(h/t to bad) and noted at other places, the Canadian government has finally woken up and is trying to do away with the 40 year mortgages, as well as the zero down mortgages that are backed by the government (via CMHC and others). ...
Posted in Calgary | No Comments »
Thursday, July 10th, 2008
CALGARY REAL ESTATE BUBBLE BLOG
I don't have much time to blog but I'd like to just quickly put up a post regarding today's news. This might be redundant, as most of you have already heard (in the MSM or on other blogs), the federal government is tightening mortgage lending ...
Posted in Calgary | No Comments »
Thursday, July 10th, 2008
Alberta Real Estate Watch
The city of Edmonton teaming up with Rohit, Landmark and the Edmonton Journal to build and market townhouses for stretched wage earners in a program called First Place Edmonton. The prices aren't terribly cheap at $266,710 for a two bedroom townhouse in Millwoods. The ...
Posted in Calgary | No Comments »
Thursday, July 10th, 2008
FindCalgary.com Blog
New changes were introduced on June 23rd to the federal money-laundering legislation that is administered through FINTRAC. This will affect how real estate transactions are conducted in Canada.
Can I see some ID please?
The most notable ammendment that will affect the public is that now, whether buying or selling, Realtors ...
Posted in Calgary | No Comments »
Monday, July 7th, 2008
CALGARY REAL ESTATE BUBBLE BLOG
Recently, CREB released it's June summary package for the city of Calgary. In conjunction, Mario Toneguzzi released his June housing report.********RE: "Calgary home sales continue decline, prices hold steady," July 2, 2008Dear Editor,I am disappointed at Mario's inability to gather facts with prudent responsibility concerning accuracy ...
Posted in Calgary | No Comments »
Monday, July 7th, 2008
Alberta Real Estate Watch
The first tale is that of "stabilizing prices" as described in the Calgary Herald article Calgary home sales continue decline, prices hold steadyCalgary's residential real estate market in the first half of this year has been marked by declining sales, increasing listings and stabilizing average sale ...
Posted in Calgary | No Comments »
Monday, July 7th, 2008
FindCalgary.com Blog
When purchasing a condo, it’s as though you’re buying into a business or corporation. If you were planning on purchasing a business, you would do your due diligence and find out everything you can about the company. What is its income? How much are the operating expenses? Are there ...
Posted in Calgary | No Comments »
Thursday, July 3rd, 2008
Centuria on the Park Stampede Lunch
Website: www.lpdi.ca
When: Saturday July 5th, 12pm - 4pm.
Notes: Most convenient to park behind the casino in the Impark lot. Please come and enjoy our live music, food beverage, and great company.
Waterfront Anthem Properties - Stampede Lunch
Website: www.waterfrontcalgary.com
When: Wednesday, July 9th, 12pm - 4pm
Notes: invitation
BREAKFAST SCHEDULE ...
Posted in Calgary | 1 Comment »
Monday, June 30th, 2008
Alberta Bubble
It is difficult to get a man to understand something when his salary depends upon his not understanding it" - Upton Sinclair
And yet, people expect realtors to give a ‘fair’, ‘balanced’ or unbiased perspective on the current market situation. It just can’t happen. It’s not unlike the old fable ...
Posted in Calgary | No Comments »
Thursday, June 26th, 2008
As you may have heard, the TORODE Group of Companies have recently increased our commitment to supporting public art in Calgary by commissioning a $1 million sculpture for the flourishing arriVa community. On Thursday June 5th, the successful finalist of the international invitational competition was announced and the winning ...
Posted in Calgary | No Comments »
Wednesday, June 25th, 2008
Last Updated: Tuesday, June 24, 2008 | 4:48 PM MT
CBC News
http://www.astoriaon10th.com/ ~35 storey mixed use condo tower ...
A luxury penthouse condo is on the Calgary market for an unprecedented price of $10 million, propelling the city into a lofty real estate realm.
The west-facing, two-storey, 4,400-square-foot unit is part of ...
Posted in Calgary | No Comments »
Tuesday, June 24th, 2008
CALGARY REAL ESTATE BUBBLE BLOG
The much anticipated "spring rush" has been a complete disaster in Calgary's real estate market. This is well documented in the MSM these days. It was during this period that sellers were hoping to unload their anvils of debt to unsuspecting greater fools. The hope ...
Posted in Calgary | No Comments »
Tuesday, June 24th, 2008
CALGARY REAL ESTATE BUBBLE BLOG
The preceding graphic was the housing market in the US where prices eventually crashed. Early symptoms included a decrease in sales and high inventory levels.Notice the very "shocking" similarities to the trend of the Calgary real estate market. In Calgary, home sales are plummeting 30%-40% YOY. ...
Posted in Calgary | No Comments »
Tuesday, June 24th, 2008
CALGARY REAL ESTATE BUBBLE BLOG
This might be old elementary news, but over the last couple of years during the inflation of the Calgary real estate bubble many home buyers were "tricked" (yes, I dare say it) into affordability.A conventional and financially rational mortgage would follow a 25 year amortization period. ...
Posted in Calgary | No Comments »
Tuesday, June 24th, 2008
CALGARY REAL ESTATE BUBBLE BLOG
We're almost approaching the midway point of 2008. With the spring rush come and gone, will the following bold predictions hold true till the end of the year?Here is a compilation of predictions for the Calgary real estate market made at the beginning of this ...
Posted in Calgary | No Comments »
Tuesday, June 24th, 2008
CALGARY REAL ESTATE BUBBLE BLOG
Chicken soup won't help. Not doom and gloom but rather reality.Calgary inventory at all time record highs (7127 SFH + 3373 Condo), sales/new list ratio in the tank, sales down yoy 30%-50%, median price down yoy, average price down yoy, days on market up yoy.As of ...
Posted in Calgary | No Comments »
Tuesday, June 24th, 2008
CALGARY REAL ESTATE BUBBLE BLOG
Real Estate Type : Single FamilyBuilding Type : HouseBedrooms : 1Bathrooms : 1Interior Floor Space : 925.70 sqftStoreys : BungalowBuilt in : 1926Land Size : W:8.840m D:36.580m Shape:RECTitle : FreeholdLocation : 112 9 Av NECalgary, AB T2E 0V2MLS®: C3322995Aren't post grow-op properties supposed to ...
Posted in Calgary | No Comments »
Tuesday, June 24th, 2008
CALGARY REAL ESTATE BUBBLE BLOG
According to Statistics Canada's 2006 Census of Population and Housing, 73.1% of Albertans own there "dwellings."What does this mean?It translates into the fact that the pool of remaining buyers in Alberta's real estate market is small. During the boom years of 2006 and on, many Albertans ...
Posted in Calgary | No Comments »
Tuesday, June 24th, 2008
CALGARY REAL ESTATE BUBBLE BLOG
Bank Of Canada Jolts Economists With Stand-Pat Rate Decision Amid Inflation Risk"Holt said one possible explanation is that the Bank of Canada and the U.S.Federal Reserve are co-ordinating policy in an effort to bolster the Americandollar and "take the froth" off of commodity prices."Back in March ...
Posted in Calgary | No Comments »
Tuesday, June 24th, 2008
Alberta Bubble
We are experiencing the best of the times in this province. Looking around, there are signs of prosperity. Everybody is happily employed or has the best shot they ever had at getting some jobs. Some people have high paying jobs. Lending is still pretty lax and people are still ...
Posted in Calgary | No Comments »
Tuesday, June 24th, 2008
Alberta Bubble
As mentioned in my last post, any bull or bear who is interested in making a guest post to this blog is more than welcome. Of course, your identity will be kept anonymous if you wish to do so. This post was contributed by a poster who particpates on ...
Posted in Calgary | No Comments »
Tuesday, June 24th, 2008
Alberta Bubble
Please post links, comments and other relevant thoughts. Some contributions from my side:The blog is almost one year old now. Thanks for your support and valuable comments. Hopefully we have saved at least a few people from seeking advice from the new 'Aunt Abby' about 'approaches to deal ...
Posted in Calgary | No Comments »
Tuesday, June 24th, 2008
Alberta Bubble
Last year housing prices kept on marching upwards despite rising inventory. The trend continued until the middle of summer when prices stopped climbing- the basic supply and demand variables starting to take their toll. Are we seeing a repetition of this pattern? Perhaps we are. Despite sharply ...
Posted in Calgary | No Comments »
Tuesday, June 24th, 2008
Alberta Bubble
...if we go by the conclusions of the usual suspects. Btw, Bob you are doing a great job in providing the numbers and it's all much appreciated, even though we may not agree with your conclusions!Bob writes a list of reasons why the prices are going up- Here's a ...
Posted in Calgary | No Comments »
Tuesday, June 24th, 2008
Alberta Bubble
First it was Dell, then TD and now it is Intuit. The crown jewel of software development in Edmonton- Intuit Canada-is shifting its head office to Toronto. No prizes for guessing the reason-it’s too hard to find talent here and too hard to sell Edmonton to ...
Posted in Calgary | No Comments »
Tuesday, June 24th, 2008
Alberta Bubble
I was traveling all over North America during the last couple of weeks. Too much stuff going on and too many observations. I will try to post some of these in the coming weeks. But for now, the new ‘blog on the block’ caught my attention. The vehement bitterness ...
Posted in Calgary | No Comments »
Tuesday, June 24th, 2008
Alberta Bubble
The steep fall in commodity prices in last few days, especially for gold and oil was not entirely expected. At least by the inflationists. Is it possible that this is the beginning of the unwinding of the ‘great commodity bubble?’ The simple scenario could play out this way- ...
Posted in Calgary | No Comments »
Tuesday, June 24th, 2008
Alberta Bubble
It isn't Friday yet but we are crazy busy getting ready for our move. I've been meaning to do some posts but didn't have the time. Here's a compressed version of some items of interest that would normally require a full individual post of their own. - Very early ...
Posted in Calgary | No Comments »
Tuesday, June 24th, 2008
Alberta Bubble
Spring is here, at least in the real estate context. But the spring hasn’t quite sprung sales wise. Inventory continues to pile up and the pace of new construction is still frantic. The bulls claim that everything is perfectly fine except for a little ‘inventory problem.’ If only we ...
Posted in Calgary | No Comments »
Tuesday, June 24th, 2008
Alberta Bubble
No, no and No, as per this Calgary Herald article. Of course, MSM is losing its relevance with every passing day and such senseless rehashing of REIC perspective will only hasten their demise.“I don't see a lot of price decline on a year-over-year basis in Calgary. I think we're ...
Posted in Calgary | No Comments »