header
October 2010 Real Estate Newsletter
FROM LOUISE FULLER 
In This Issue
Market Summary
627 - 7TH Street - Feature Listing
Bank Foresees Short-term Relief
Downtown Calgary Vacancy Rate
End your promotion with a kick -- consider a postscript to reinforce one of the key product or service benefits.
 
Visit My Website to View Fantastic Canmore listings. 
 
Featured Article
Forward to a Friend
Greetings!,
 

Sales for the month of September 2010 are as follows:

 
Please remember these are averages only.
 
Single family: 11 sales, average sale price $886,681, average days on market 69 (DOM). 

Half duplex: 7 sales,  average sale price $825,000, average days on market 108 (DOM). 

Townhouse: 7 sales, average sale price $513,142, average days on market 100 (DOM).  

Apartment: 9 sales, average sale price $416,655, average days on market 151 (DOM).

Fourplex: 2 sales, average sale price $495,500, average days on market 107 (DOM). 

Lots: 0 sales.

For specific details, please email or call and I would be happy to be of assistance.
 
Best Regards,
Louise Fuller
627 - 7th Street
 
627 7th Street 
Feature Listing
 
EXQUISITE DESIGN!

The quality is evident in this custom contemporary mountain home. The main entrance features a spacious welcoming lobby. A second entrance from the back enters to a fully organized mudroom area with access to the garage and a full laundry with built in sink. This entry level features a large media/family room, two large bedrooms with double closets and a full bathroom. The luxurious upper level has vaulted ceilings, Brazilian cherry floors, high end cabinets and a spectacular wide open view over Centennial Park to Three Sisters range. The living room has a rock wall fireplace and timber mantle, huge windows and ambient music is delivered through distributed audio. Quality stainless appliances, Jenn-Air range, granite and bar style seating come together in this amazing kitchen. The master and unique ensuite offer space, views and functionality. An additional bedroom/study and full 4 piece bath are also on this level. A full alarm system includes screen detection.

 
ASKING  $1,195,000
CLICK HERE FOR MORE INFORMATION

Graph 
BANK FORESEES SHORT-TERM RELIEF  ON HOME COSTS BUT EXPECTS THEM TO RISE AGAIN
By Sunny Freeman, The Canadian Press

TORONTO - The cost of owning a home in Canada continued to climb in the second quarter, but homeowners may soon experience some temporary relief as house prices and some mortgage rates subside, according to a report released Monday.

The RBC Economics Research report found home ownership costs continued to rise in the second quarter of 2010, eroding affordability in most markets.

"The recent decline in mortgage rates and increasing evidence that home prices have started to stabilize in many markets are anticipated to provide some respite from the deteriorating trend in affordability in the near term; however, this is expected to prove temporary," RBC senior economist Robert Hogue wrote.

In the longer term, RBC said the trend of rising homeownership costs will return as the Bank of Canada continues hiking the key lending rate over the next year and a half, sending variable mortgage rates higher.

READ ON

MORTGAGE INSURANCE MARKET HEATING UP
Increased competition means lower fees
 
By Garry Marr, Financial Post

Mortgage default insurance is something you have to pay if you can't come up with a 20% down payment on your house.

You pay the premium and the insurance covers the bank in the rare event -- defaults in this country are still below 1% -- you don't make your mortgage payments. But it is a transaction between your bank and your mortgage insurer.

So, why should you care about the mortgage default insurance market and another new entrant into the market?

For starters, more competition is almost never a bad thing. The last time competition heated up in the mortgage insurance market, consumers saw significant reductions in fees.

This time, the $2.5-billion mortgage insurance market landed a major heavyweight in the Ontario Teachers' Pension Plan. Together with partner National Guaranty Holdings Inc., Teachers' took control of American International Group Inc.'s struggling AIG United Guaranty Mortgage Insurance Co. about six months ago.

READ ON

DOWNTOWN CALGARY VACANCY RATE
HIGHEST IN CANADA AT 14.5%

Leasing activity remains strong
 
By Mario Toneguzzi, Calgary Herald

Calgary's downtown vacancy rate has climbed to the highest level in the country among major markets but the commercial real estate sector also experienced significant activity in the third quarter "with a frenetic pace of leasing."

A report by CB Richard Ellis Ltd., said the downtown vacancy rate in the city jumped to 14.5 per cent from 12.5 per cent a year ago.

Nationally, the average downtown vacancy rate in the third quarter of this year was 8.4 per cent, up from 7.8 per cent for the same period in 2009.

READ ON

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