The fervour of spring continues. The pace has slowed a bit, but not a lot. More product is coming on the market, but buyer interest is still strong. There isn’t a feeding-frenzy, but well priced quality properties are selling quickly upon coming to market. Still, there are properties taking longer and some languishing – so that’s are more typical market dynamic.
Across Canada and the U.S. buyer sentiment seems similarly strong and enthusiastic to buy while interest rates remain at historic lows. I’m no economist, but the federal government’s plans to loosen up immigration bodes well in my view. More people, more housing, more construction, more buying and selling – and that makes so many segments of our economy happy …
It’s shaping up to be slightly less-hot summer market, but with good weather and good COVID-stats Albertans will have a lot to be happy about. Oil prices being up as they have been lately won’t hurt either.
Have a great Stampede and enjoy July. Call me if you have questions or need service.
+ the Government of Canada have a new program: Canada Greener Homes Grant for energy conservation retrofits
CONDOMINIUM MATTERS & TRENDS
+ the move to licence condominium manager companies under the new provisions of the Real Estate Act take effect December 1st this year; RECA have clarified more of the process but not yet defined the education requirements. I wouldn’t be surprised to seem some mergers between real estate brokerages and some condominium management firms as bridge-to- compliance … tic toc
+ many Canadians want a house but can’t afford one; so says Manulife’s semi-annual debt survey – but, let’s face it, Toronto and Vancouver data taken out, it’s not such a rough picture, and Calgary is more affordable today than in quite a few years, not because of supply/demand dynamics, but because of sustained low interest rates and some out-migration. So, if you consider all the new homes, apartments and condos substantially exceeding the demolitions of old stock, we have enough housing for everyone – but maybe expectations have been too high …
FISH CREEK PARK
+ Fish Creek Provincial Park – volunteer opportunities
+ I live near Fish Creek Park – so I’m walking in the park daily, as the growing season is in full force the drab last-year’s growth of grasses have been overtaken by fresh green – birds everywhere!
+ if you use the park, consider joining/supporting the Friends of Fish Creek Provincial Park Society – they do great work and have fantastic programs for children of all ages to learn about nature – and lots of volunteer opportunities too
+ the Osprey are back; if you enter from the Bannister Road entry (by McInnis and Holloway) you see the constructed perch and platform it looks like a landing on the tallest telephone pole you’ve ever seen; each winter park staff clear if off – and each spring an osprey pair nest there. The nest is huge, as are the birds who love fishing for trout in the Bow River.
+ map of the park
a sampling of SOME CURRENT LISTINGS available in Eau Claire
FOR SALE
+ 3 bedroom /3 bathroom / 2-storey unit [ take the spectacular photo tour]- 2,884 sq. ft. high rise condo in Eau Claire Estates; one of Calgary’s finest icons, concierge services, 24/7 onsite security - email me to see great properties like this one ... kolke@markkolke.com
FOR SALE
+ 3 bedroom /2 bathroom unit [ 50 photo viritual tour]- 1,870 sq. ft. - substantially original; great value / well-kept high rise condo in Eau Claire Estates; one of Calgary’s finest icons, concierge services, 24/7 onsite security - email me to see great properties like this one ... kolke@markkolke.com
FOR SALE [ PENDING SALE ]
+ 2 bedroom / 3 bathroom extraordinary multi-level unit [ fantastic photo array ] - 4,258 sq. ft. - spectacular for entertaining, penthouse condo in Eau Claire Estates; one of Calgary’s finest icons, concierge services, 24/7 onsite security - email me to see great properties like this one ... kolke@markkolke.com
+ we've can show you lots of great options in Eau Claire - just give us a call!
HOME SEARCH APP - shop all MLS via this phone APP
+ a cool tool: something more binge-worthy than some Netflix offerings - try our on-your-phone MLS search tool. Drive-by any sign, or find properties anywhere surfing from your phone, check it out – contact for more information or to book a showing. Get it here. By the way, you don’t have to drive – do your ‘virtual searching’ from the comfort of your easy-chair, check out listings in Calgary and anywhere your fingers want to wander - with quick links to get further information or to set up a showing.
+ new home builders work with agents; that’s not news, but a lot of buyers think it’s an either-or situation; the willingness of builders to work with agents has ebbed and flowed over the years, but most builders really welcome buyers working with an agent – they generally see it as more useful to secure a deal than working in competition with agents …
+ increases in lumber prices put pressure on builders, and in turn on buyers who sometimes find they cannot afford quite as much house as they wanted but the volatility has settled, for now AND American lumber industry is pushing for higher tariffs claiming unfair trade practices (they seem to do this every decade or so and end up losing at WTO tribunals …)
+ new home prices on the rise in Alberta
OPEN HOUSES + SHOWINGS
+ OPEN HOUSES are allowed again – Stage 2 Open For Summer Plan – with COVID-19 showing guidelines applying, and homeowner permissions of course … so don’t expect to see tons of them right away, but they are back, they are OK – and masking and sanitizing are still recommended
+ and, an interesting trend – or at least there are more anecdotes lately; when you and your agent attend and open house or do a showing when nobody is home, be mindful of the showing protocols/owner’ instructions – but you might be recorded by the owner’s security system or a recording device. Best to follow instructions and discuss negotiating strategy after you leave … a.k.a. beware of baby monitors recording and transmitting … if you catch my drift
PROPERTY LINES - monthly news
+ sign up CLICK HERE for PROPERTYlines monthly newsletter focused on commercial real estate both locally and across Canada in industrial, commercial, investment, multi-family, hospitality, and infrastructure real estate; May/June issue; archived issues
REAL ESTATE LICENSING and regulatory news
+ regulation and control of licensing in real estate in Alberta is handled by the Real Estate Council of Alberta(RECA), an NGO delegated by the Government of Alberta to enforce the Real Estate Act and regulations; in the course of renewing licenses, all agents are required to renew their errors and omissions insurance (E&OE) which is handled by REIX – which means, in practical terms, your agent cannot renew his/her license without having their ongoing educational requirements in place AND having their professional insurance in place. Licensing for brokerages and agents they employ is renewed at September 30th every year; you can find your agents/confirm licensing under the Find A Professional tab
+ RECA held elections pursuant to the new act: elected and appointed Board and Industry Councils members announced
+ the Government of Alberta amended the Real Estate Act [Real Estate Amendment Act 2020] and made significant changes to the role of RECA, and installation of new officers and board members following an external review and industry consultation; the new legislation has been proclaimed and went into effect December 1, 2020
+ expected in the coming year: condominium project managers, not currently regulated by RECA, might be. Government, RECA and industry-wide discussions are ongoing …
+ Condominium managers are scheduled to be licensed under the Real Estate Act on December 1, 2021 – and new programs of education are being developed for RECA by the Residential Property Manager Industry council
+ would you like to try a career in real estate, were you born to be an agent? Check out this doll house recruitment video from the Canadian Real Estate Association
+ 62% of Canadians are planning some form of home renovation this year (sure, fine, and yes lumber prices have normalized again, but try to find an available contractor!) …check out the survey done by BMO Financial Group
VALUATION
+ we are happy to evaluate your home; whether or not you wish to sell in this current market – we are always happy to help owners evaluate the market value of their home and to get a sense of where it is positioned in the market – call me or email me for a no-obligation chat: 403-444-6939 or email: kolke@markkolke.com
In my work in this industry, and in this publication, my communication with clients and customers is predicated on the notion that more information is better than less information, and answers are important. A lot of the time people aren’t sure what questions to ask --- so hopefully, this publication will fill some gaps.
In my experience, both buyers and sellers want information and transparency; I can’t remember anyone saying they wanted to best salesman. In fact, industry surveys show the number one complaint buyers and sellers have about agents is that they don't return phone calls promptly! Who knew? ... we all do, and right now we are more aware than ever that staying in touch and working together, being on the same page in our desire for the best outcome, is to work together.
People tend to do business with people they know, like, and trust. Buying or selling a home is, for most people, their most valuable asset and there are plenty of emotions attached to every decision. In our 2020 environment, those emotions seem to be cranked up a couple of notches for everyone …
If you would like to discuss your next move - buying or selling, please give me a call - I'm happy to meet with you in person, by phone, or by ZOOM ...
~ call me to discuss your requirements: Mark Kolke, 403-444-6939
~ or email me: kolke@markkolke.com
