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Real Estate Blog

Top 10 Calgary communities for value and appreciationMoneySense recently came up with a list of the Calgary's top communities positioned for price growth when the Economy rebounds. MoneySense looked for growth communities that would offer the most value over 1-year and 5-year periods. Most of the neighbourhoods were in the Southwest and the lack of Northwest communities (Bowness and Montgomery to name just a couple) is fairly surprising.

1. Glenbrook, $591,083

Considered a rock solid community, Glenbrook featuring mostly well-kept single-family homes. It's in a great location, not too far from downtown, and MoneySense expects a very good short-term price appreciation of 17.9% and a 45.6% increase in the next five years.

2. Rosscarrock, $596,823

With easy access to downtown and a good, fairly central

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Looks like declining oil prices have not really affected how much homes in Calgary are selling for. Sure, new listings growth is down, but prices are still holding steady.

Calgary real estate market home prices

Looking at the February real estate stats for Calgary, as released by the Calgary Real Estate Board, new listing growth slowed from 37% in January down to 9% in February, which is a clear sign the panic to sell has passed. In terms of pricing, the unadjusted detached benchmark price was $516,000 in February, a 6% increase from Feb. 2014, and a 0.5% decline from January figures.

Again, looking back to the last time oil prices plunged, in 2008 (when oil was less than US$50 a barrel), the average Calgary home price only dropped by 7% from 2007-2009.

I think that, despite what the

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Calgary Ring Road As the price of oil continues to hover around the $US50 mark, there was some talk in January about the province reassessing its capital spending priorities in the face of falling revenues and royalties, and one of the items discussed was cancelling the planned southwest ring road. However Premier Jim Prentice recently told AM770 the project still had the green light.

The southwest leg of the ring road would help create a true circle road around the city, and that section comes with a $5 billion pricetag. In addition, from a Calgary real estate perspective, would pave the way for land development south of the Tsuu T'ina Nation in what is known as the Providence area, which is south of 146 Ave and north of Hwy 22x, west of Bridlewood and Evergreen. That

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Mahogany CalgaryLooks like things aren't slowing down in the outstanding southeast lake community of Mahogany, which led all in applications for single-family home building permits in 2014 in Calgary. According to the city's planning department, the community had 557 permit applications last year.

Interestingly as Mahogany continues its build out, there were 38% more permits issued in 2014 than in 2013, showing just how popular the neighbourhood is for Calgarians looking to build new homes in the master-planned Hopewell community.

People looking to live in Mahogany, which is east of 52 St. SE, immediately south of Stony Trail SE., have a pretty wide variety of homes to choose from if they're looking for a new single-family home including homes with lanes, rear or

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Calgary Flames new arena"Where will the Calgary Flames' new arena be located?" That is the million dollar question and further fuel was thrown on the speculation fire that the new facility could be built at 1720 Bow Trail SW, on the western edge of Downtown. The City of Calgary has confirmed it has purchased four hectares of land at GSL for some $36.9 million. With that, the city now owns more than 12 hectares in the area, including the Greyhound site, which is close to two hectares.

However the city is also pondering creating a "West Village" in that region, so the land purchase could simply be a part of that development, which would be similar to the successful East Village concept on the eastern side of downtown. But the land would be a good home for the Flames' new arena

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Calgary housing starts down in January 2015It might be a blip in the radar, it might be a prelude to what might happen with Calgary's economy in 2015, but housing starts in the city took a huge drop in January. New home construction fell 43.8% in January, to 747 units, according to the Canada Mortgage & Housing Corp. By way of comparison, in January 2014, there were 1,328 housing starts.

Now the pundits will argue this is a result of low oil prices, but it could be the impact of the city's policy to stop growing outward and grow upward in terms of new housing growth. However the multi-family sector also dropped, by 50.7% to 430 units. Startups of single-family homes also declined last month, dropping 29.7 to 317 units from 451 in January 2014, so it could be something more than city policy.

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While Calgary's real estate market swoons along with the price of oil, there could be an big opportunity for a savvy buyer who can take advantage of what could be falling home prices.Calgary real estate market falling

In January, the number of homes sold (879) was down almost 40% from January 2014, according to the Calgary Real Estate Board. Actually in terms of home sales, it was the slowest January in over 7 years. However, home prices have been slow to react, as the median price actually went up from December 2014 and the average home price went down half a percent year over year to less than $461,000.

But in a supply and demand economy, with 37% more new listings on the market (from 3,100 listings to 4,400 in three weeks), prices will go down and the patient buyer can find the

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2014 has been a productive year for real estate in Calgary and across Canada. Fueled by low interest rates, home and condo sales have continued to increase in most areas. Here are the predictions for 2015 by some of the major players in the Canadian real estate industry:

Remax:

Because of falling oil prices, interest rates could remain as they are. Alberta home prices will increase, but only by three percent due to the slump in oil prices. Unless the price of oil continues to decline, house prices should remain steady.

Canada Mortgage and Housing Corporation:

Existing home sales will rise moderately with increases of about 2 percent.

Royal Bank of Canada:

Not the most optimistic report, RBC predicts that home sales are expected to drop by

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Mahogany Island Collection in CalgaryHopewell Residential will be developing a new 22-home island neighbourhood - "The Mahogany Island Collection." Especially unique, not just because of it's urban, island setting, but because this will be the first gated community approved in Calgary in about 13 years. This is pretty surprising, especially in a city of hundreds of neighbourhoods.

Touted as an exclusive, private island community, some believe the concept of a gated entrance is more for marketing than safety. How is it any different than a secure condominium or townhome complex that offers 'resident-only' amenities?

From a buyer standpoint, this will certainly be a status draw for some, but an increased sense of security for others. Having one's kids playing on a gated street would have a

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Calgary condoGood for the Buyer...or Is it?

With the rising cost of real estate in Calgary, it's no wonder that condominiums have become increasingly popular in the last year. In November alone, sales from Calgary condos and townhomes showed a 20% increase.

The benchmark price for a Calgary condominium is $300,700 compared to $279,600 in November 2013. Even with rising prices, a condo is still the most affordable alternative for many trying to get a foothold in the Calgary real estate market.

In an effort to continue the momentum and protect buyers in this booming market, the Alberta government is looking at introducing a new legislation - Bill 9 - the Condominium Property Amendment Act. This includes about 50 amendments to the condominium property laws in an

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