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July 2010 Real Estate Newsletter FROM LOUISE FULLER |
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Visit My Website to View Fantastic Canmore listings.
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Featured Article
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Greetings!,
Sales for the month of June 2010 are as follows:
Please remember these are averages only.
Single family: 9 sales, average sale price $1,010,777, average days on market 42 (DOM).
Half duplex: 2 sales, average sale price $676,250, average days on market 58 (DOM).
Townhouse: 12 sales, average sale price $474,000, average days on market 81 (DOM).
Apartment: 3 sales, average sale price $268,333, average days on market 79 (DOM).
Fourplex: 0 sales.
Lots: 0 sales.
For specific details, please email or call and I would be happy to be of assistance. Best Regards,
Louise Fuller |
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#201 - 170 Kananaskis Way
Feature Listing
THE MOST POPULAR MOUNTAIN RESORT
Discover the freedom of a completely managed vacation investment - Blackstone Mountain Lodge. Unique M-shaped building to maximize views from all suites, graciously landscaped and elegantly designed "grotto" area with year-round swimming pool, two hot tubs, BBQ area, two well-appointed meeting/common rooms that include access to a prep-kitchen and coat check facility. Fully-equipped business centre with two work stations and high-speed internet access. Games room incl. foosball, air hockey. Two spa treatment rooms, including one for couples, fitness centre with state-of-the-art cardio equipment, free weights and universal gym.
ASKING $389,000 |
CLICK HERE FOR MORE INFORMATION
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TOP TEN CANADIAN INVESTMENT CITIES | Overall, the Canadian real estate market is deemed a safe place for investors and is increasingly seen as a safe place for foreign investors to park capital in the tumultuous global market. Yet, there is really no national Canadian real estate market. The market in Canada needs to be analyzed on a regional basis due to differing economies in each province.
Real estate varies provincially and regionally, and even differs from one neighbourhood in a city to another. Cities with a tendency to have a lot of equity gain over a period of time may not cash flow well and conversely, solid cash flowing properties may just be steady performers with an appreciation equivalent to inflation.
READ THE REST OF THIS REPORT
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REC PROPERTY SALES SOAR FROM LAST YEAR
ALPINE
REVIVAL
BY MARIO TONEGUZZI, CALGARY HERALD MAY 21, 2010
Recreational
property sales in most major Canadian markets have soared this year compared with a year ago,
according to a report released Thursday by Re/Max.
The 2010 Re/Max Recreational Property
Report found that 79 per cent of
recreational areas reported
an upswing in the number of properties sold during the first three months of the year.
Starting prices for recreational properties were also on the move, with 43 per cent
posting a nominal increase.
The report said the number of units
sold in Canmore was up a substantial 130 per cent over a year ago, with 90 properties sold
between January and March as
opposed to 39 sales for the same period in 2009.
But
the average price dipped by 17 per cent to $583,000 from $684,000,
"bringing
values more in line with markets further afield like Fernie and Invermere." "Lower values -- combined with rock-bottom interest
rates -- have finally kickstarted Canmore's recreational property market," said the Re/ Max
report.
"The popular resort area lagged behind Calgary and
Edmonton in terms of
housing recovery, but with prices now at
or near bottom, cautious purchasers are coming out of the woodwork."
Pablo Martinez and
his partner Gen Bouchard noticed the price reduction when they started looking for a place in
Canmore close to three months ago. They purchased a condominium in the resort area about a month
ago.
"It was good timing for both of us," said Martinez. "Canmore
was a perfect place because
we like the outdoors and the landscape is just fantastic.
"The
price had dropped a lot. It was affordable for us. It was a very good
deal."
Jessica Stoner, with Re/Max Alpine Realty, said the
Canmore market has
improved since last year.
"Last
year there was just not much moving," Stoner said. "The sellers were
not able to sell and the
buyers were not able to buy because the price point overall hadn't adjusted much in Canmore. Over
the last year we've had corrections. We just took longer to get there and because of that now the
buyers are very interested
in Canmore and the sellers are able to sell it. It's a far-improved market now."
The report
said entry-level condominiums have sparked the greatest attention, with one-bedroom units most popular
with first-time buyers of secondary properties.
"Demand in the top end of the market
has also been on the upswing as buyers take advantage of softer prices. The most expensive sale so
far this year was priced at
$2.1 million."
As a contrast to Canmore, Sylvan
Lake, the other recreational property market surveyed by the report, has seen buyers "continue to
sit on the sidelines." "No
waterfront sales have been recorded to date, although a handful of back
row properties have sold
under $500,000," said Re/Max.
"The starting price for a three-bedroom, winterized recreational
property on a prime waterfront lot on Sylvan Lake is now $1.2 million.
"Pricing will
be critical this season as well-priced properties are expected to move, while those that are overpriced
will stagnate."
Carl Stepp, with Re/Max Real Estate
Central Alberta, said last year's recreational property market in Sylvan Lake was "relatively slow
with the downturn in the
economy obviously."
"But there's definitely more people
out and about looking around. Sales aren't a whole lot more than they were last spring, but there's
more people looking anyway.
Showing a little more promise," said Stepp.
"I think as the
oilpatch picks up, because we are solely dependent on the oilfield here, people will be back looking at
recreational property, lakefront property."
The report said
oil executives, aged 35 to 45, with young children, have eclipsed the Baby Boomers as the most active
purchasers in the Sylvan Lake market. Re/Max said many potential buyers are being lost to bargain
U.S. markets.
At the national level, "stronger than
expected economic recovery, combined with additional incentives such as rising interest rates,
stricter lending criteria and a new sales tax, have served to kick-start activity in
recreational property markets
from coast-to-coast," said Elton Ash, regional executive
vice-president, Re/ Max of
Western Canada.
mtoneguzzi@theherald.canwest.com
© Copyright (c) The Calgary Herald
Read more:
http://www.calgaryherald.com/business/property+sales+soar+from+last+year/3055047/story.ht
ml#ixzz0oaBlQS5x |
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Thanks for reading and I will send you more info next month.
For all your real estate needs I am ready and willing to help you take that next, very important step.
Sincerely,
Louise Fuller
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