Issue #14   June 2010 


Summer is Coming...at some point!
It looks like the nice, sunny weather is finally coming. I heard this past week that Environment Canada is predicting a hot,dry summer...we'll see!

The World Cup is well underway and I hope that your favourite team is now advancing to the Second Round. There is a great interactive website at www.marca.com/deporte/futbol/mundial/sudafrica-2010/calendario-english.html to follow your team and all of the action.

There is a new Calgary website called Live In Calgary. it has some great information on schools, recreation and lots of other things for Calgary.

Questions about Mortgages?

Whether you are a first time home buyer, or considering the purchase of your dream home, no matter what your circumstance, you can still purchase with 5% down payment. If you are buying a principal residence, and/or a second home, qualifying rates are as low as 4.19% (OAC) if you choose a mortgage term of 5 years or longer.
The requirement for the 20% down payment is only for investors purchasing rental/investment properties.
Under special circumstances, some buyers can still qualify for zero percent down payment, although it is uncertain how long this will be available.
For further clarification, and/or information, please feel free to contact me, or your mortgage specialist and consultant.
                                               

Alberta's economy to rebound this year, lead nation in GDP growth: Scotiabank

Oil sands investment boosts forecast of 4.1% spurt

By Mario Toneguzzi
Calgary Herald
June 16, 2010

Alberta will experience a significant economic rebound this year and lead the nation in GDP growth, says a report released today by Scotiabank.

The report forecast GDP growth of 4.1 per cent for the province while overall Canadian growth would be 3.6 per cent, the strongest advance in a decade for the country. In 2011, Scotiabank is forecasting Alberta economic growth at 3.4 per cent - tied with Saskatchewan for the best in Canada. Nationally, it is predicting Canadian GDP at 2.7 per cent next year.

Scotiabank said a strong pickup in investment will fuel growth in the energy and manufacturing sectors this year in Alberta.

"Investment has perked up in the oil sands, as easing costs and higher oil prices revived investment intentions in late 2009, with $2.2 billion in outlays scheduled for 2010 alone," said the report. "Renewed activity in the industry will lead to significant benefits flowing through the economy, with manufacturing and services all heavily tied to conditions in the energy sector. While the bulk of investment will stem from oil sand development and tight oil plays, recent revisions to the province’s royalty framework are a major positive for the natural gas industry."

mtoneguzzi@theherald.canwest.com


Single Family
  March April May
Listings 4014 4986 5649
Sales 1396 1352 1262
Absorption (# of months of inventory) 2.9 3.7 4.5
Average Price
(in thousands)
$471 $460 $483
Median Price
(in thousands)
$423 $417 $420

Condos
  March April May
Listings 2148 2445 2656
Sales 609 639 518
Absorption (# of months of inventory) 3.5 3.8 5.1
Average Price
(in thousands)
$297 $290 $305
Median Price
(in thousands)
$275 $267 $280

Murray Scotton REALTOR®
403.861.9196 cell
www.murrayscotton.com
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