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January 2011 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 December 2010 are as follows:
Please remember these are averages only.
Single family: 12 sales, average sale price $739,908, average days on market 114 (DOM).
Half duplex: 3 sales, average sale price $694,000, average days on market 80 (DOM),
Townhouse: 3 sales, average sale price $516,600, average days on market 36 (DOM).
Apartment: 5 sales, average sale price $473,766, average days on market 140 (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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#36 - 300 Eagle Terrace Road
Feature Listing
Views and privacy on the Ridge!
This location has views, privacy and is located at the top of desirable Eagle Terrace neighbourhood. Eagle's Ride is well-known for its sunny position in the valley and panoramic views of Canmore's prominent south-side peaks. Ideal for residents and part time home owners alike, the floor plan of the 2-bedroom, 3.5-bath unit has space to relax and entertain. Main level kitchen, living and dining room is open concept and bright. The living room has a cozy riverstone fireplace and access to a fabulous deck. Upper level has 2 bedrooms, 2 baths and a laundry area. Lower level can be used as a sitting room, bedroom, or family room, and has a walkout to a separate patio area. There is a full bath on this level. The single-car garage is large enough for your car and sporting equipment with a parking pad in front. Eagle Terrace park and numerous walking paths are close by.
ASKING $625,000
| CLICK HERE FOR MORE INFORMATION
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GLOBAL ECONOMIC CONCERNS WEIGH ON CALGARY MLS SALES IN 2011
| By Mario Toneguzzi
CALGARY - Activity remains soft in Calgary's real estate market, which continues to be weighed down by concerns over global economic uncertainty, said a housing report released Tuesday.
The Re/Max Housing Market Outlook 2011 also said consumer confidence has been slow to battle back from the downturn.
The report forecasts residential MLS sales to end the year in Calgary at 19,200 transactions, representing a 22 per cent decline from the previous year, and Re/Max said sales next year will remain at the same level.
As for the average sale price, the real estate firm is predicting it will finish at $402,000 for the year, a three per cent hike from 2009, and will rise by another two per cent in 2011 to $410,000.
"Buyer's market conditions and low interest rates will continue to drive demand into 2011, with first-time buyers leading the charge. Demand for affordable product remains very strong, particularly in the single-family homes category," said the report.
According to the Calgary Real Estate Board, year-to-date including November, single-family home sales are down 16.73 per cent compared with the same period a year ago while the average sale price has increased by 4.67 per cent to $462,425.
In the condominium market, year-to-date sales have declined by 18.81 per cent from a year ago to 4,861 while the average sale price has risen by 2.36 per cent to $290,153.
Diane Scott, CREB's president, said improving economic fundamentals in Calgary will have a positive impact on the housing market.
"I think that our in-migration might be a little soft and that's what we need to get it kick-started a little bit more," she said. "But basically I think 2011 is going to be better than 2010."
Re/Max said a considerable improvement in Calgary's oil and gas sector is expected to have the greatest impact on the demand for housing in the city in 2011 while infrastructure spending, as well as residential and non-residential construction, will support a better employment picture.
"With GDP growth forecasts ranging from three to 4.5 per cent, cautious optimism will characterize the real estate market next year. Move-up purchasers, active in the mid-range, will play a greater role in 2011, which will help push up resale value."
If housing figures for Calgary in November are a sign, the economic situation could be looking fairly "middle of the road" as we move into 2011, said Dan Sumner, economist with ATB Financial in Calgary.
"This time last year, the market was unseasonably strong as buyers clamoured to take advantage of low interest rates. Although interest rates are only slightly higher now, many people bought anticipating higher rates, resulting in slower activity currently," he said.
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MOST ALBERTANS NOT WORRIED ABOUT ECONOMY
| By Mario Toneguzzi, Calgary Herald
CALGARY - Despite a drop in optimism about the future of the provincial economy, Albertans are no more worried about it now than they were half a year ago, according to a new poll.
The Environics Research Group survey of 1,011 Albertans found many appear to be taking a wait-and-see approach to the economy with 53 per cent saying they expect more of the same rather than growth or decline.
"You see a lot of spending," said Meenu Ahluwalia, a Calgary lawyer.
"People seem to have a lot of money to spend but you don't know where that's coming from.
"Things seem to be very slow out there in business right now. Hopefully it will pick up."
Ashif Merani, another Calgary lawyer, said it's hard to get a handle on the economy.
"It seems to be depending on the sector," he said. "Real estate is still soft: Condo oversupply, house prices have come down. Lots of inventory. Capital markets seem to be picking up . . . It's really difficult to generalize."
In the Environics survey, 25 per cent of Albertans said they think the economy will get stronger and 20 per cent believe it will get weaker.
"The proportion saying the economy is getting stronger has declined by 13 points compared to April/ May this year while the proportion voicing pessimism is essentially unchanged," said Environics.
Tony Coulson, a vice-president with Environics, said the results, combined with most Albertans saying they are not worried, means people in this province have seen a "good bit of recovery."
Albertans were also asked if the overall economic situation in the province has them worried. Sixty-six per cent said they were not worried while 28 per cent were worried and five per cent were very worried.
"They think the economy is chugging along well and aren't expecting enormous growth, but continuity," he said. "We've seen in the last few months a number of things suggesting the recovery is slowing. We've got the Bank of Canada talking about personal debt and not putting up interest rates for those reasons.
"We've got the situation in the U.S. that's not seeming to be improving as folks were hoping which has a big impact on the Canadian economy. It's a combination of feeling a squeeze on the domestic economy and an additional squeeze on our biggest export market making folks a little more cautious maybe than they have been before."
Adam Legge, president and chief executive of the Calgary Chamber of Commerce, said there isn't any "resounding" signal of recovery or strength in the economy right now with the exception of stabilized oil prices.
"That's driving investment and jobs," he said. "But other than that, you look around and you see housing flat. Commercial real estate generally flat. U.S. economy still struggling and flat. Natural gas still low prices. Manufacturing and the Canadian dollar.
"All of these things that are rolled up together sort of paint a picture of pretty consistent slower economic activity going forward."
Economic activity locally will be sparked by more widespread recovery in the U.S. and in other parts of Europe, he said.
"Particularly for Alberta for the natural gas prices to pick up, that's the key -- the key turning point. Or a new market that's going to drive a lot more sales."
The Environics survey was conducted between Nov. 22 and Dec. 2. Environics said the results are accurate to within plus or minus 3.1 percentage points in 95 out of 100 samples.
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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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