Balance is coming back to most Canadian markets – continued strong demand, more properties coming on the market as comfort levels, or should I say ‘fear levels’ are giving most Albertans a reason to get out more, make decisions about their future in career and housing matters. We are seeing a lot of ‘rethinking’ housing needs and lifestyle choices driving their housing decisions. Single-family sales continue to be strongest, but we are seeing a recovery of condo sales as well.
And it’s hot, dry, and smoky every day - that calls for an ice cream cone!
+ CMHC have relaxed their lending criteria – they realized they had overstepped and have given more relaxed guidance to lenders and mortgage brokers, making home-buying more affordable, particularly for lower-income and first-time buyers
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
STARTING THIS COMING NEXT WEEKEND - Mark's picks - the weekly Top 10 List - here's a preview of what you can expect
a sampling of something NEW ... starting next week a 'top 10 list of new listings' -it will be completely subjective; my picks of recent listings that caught my attention and which are still available:
Click on any of these five photos - connect to the virtual tour for the home. If you are interested in more information or for a tour of any of these properties, just pop me an email at kolke@markkollke.com or ring me at 403-312-8359.
+ 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.
+ a lot of homes were damaged in hailstorms in May and June – causing angst for buyers and sellers; most agents are adding an addendum to purchase agreements to give consideration to buyers regarding a pending insurance claim. The rub is that the insurance policy, and any claims relating to it, belong to the seller, so care should be taken about ‘who does what, and when do they do it – and who pays?’ Meanwhile, the Insurance Bureau of Canada is adding services to assist southern Alberta homeowners with hail damage
+ wildfire damage this year, particularly in B.C., will likely push insurance premiums there – and perhaps in Alberta too …
National home sales declined by 8.4% on a month-over-month basis in June.
Actual (not seasonally adjusted) activity was up 13.6% year-over-year.
The number of newly listed properties edged back by 0.7% from May to June.
The MLS® Home Price Index (MLS® HPI) rose 0.9% month-over-month and was up 24.4% year-over-year.
The actual (not seasonally adjusted) national average sale price posted a 25.9% year-over-year gain in June.
+ Toronto home sales slid in June … but demand remains strong
+ Vancouver market is expected to remain strong as passport holding Hong Kong residents are likely to choose Vancouver and a favoured immigration destination
+ overall Canadian outlook from CMHC suggests the way to combat spiralling prices is to build, perhaps a sound solution but based on shaky reasoning; immigration opening while the U.S. remains tight is the more likely pressure-point that will support ongoing demand through COVID recovery times …
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. Owners and agents need to be clear about showing instructions, COVID protocols and particularly instructions about ‘how many people are in the property, etc.’
+ buyers and their agents are learning about the reality of security systems, cameras and baby monitors picking up their conversations – so best to save the commentary for ‘outside and in the car’ afterwards
PREPARING TO SELL
+ consider this question: do gallery walls helps sell houses? .. check out advice from Crazy House Homes Staging and sign up for Karen’s newsletter
+ four backyard staging tips
+ getting ready to sell is no simple exercise; and as wide-spectrum as reasons for selling may be, there are issues every prudent seller needs to consider. When thinking about selling, for most people the first things that come to mind are ‘market values’, and maintenance items that should be taken care of between ‘thinking about listing’ and closing to mend those broken things. Sooner is always better!
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; April issue; archived issues
REAL ESTATE LICENSING and regulatory news
+ RECA has a new CEO – Russ Morrow
+ 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
+ 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 dollhouse recruitment video from the Canadian Real Estate Association
+ City of Calgary assessors are looking at the 2022 property assessment roll will rebound from 2021 due to the robust market
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
