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July 2013
Real Estate Newsletter
FROM LOUISE FULLER |
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Visit My Website to View Fantastic Canmore listings.
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Greetings!,
If you know anyone who is thinking of buying or selling their home we will ensure they are well taken care of! Sales for the month of June 2013 are as follows: Single family: 7 sales, average sale price 658,142, average days on market 37 (DOM).
Half duplex: 5 sales, average sale price 777,000, average days on market 135 (DOM).
Townhouse:15 sales, average sale price 553,533, average days on market 104 (DOM).
Apartment: 12 sales, average sale price 394,666, average days on market 43 (DOM).
Lots: 0 sales.
Please remember these are averages only.
Best Regards,
Louise Fuller |
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2 - 825 Wilson Way
Feature Listing
Private and sunny!
Ideal location .... private mountainside retreat with great afternoon sun! Renovated townhome condo backs onto forest and has a great plan for weekenders or full time residents. Master and 2nd bedroom up with master ensuite and 2nd bathroom. Kitchen/Living/Dining and 2 piece bathroom on main level walks out to peaceful forested area. Lower level is fully developed with bedroom/bathroom/rec room so great for teenagers or a roomate. Distressed antique maple hardwood, contemporary paint colors. New stainless appliance in the kitchen. New washer/dryer side by side.
425,000
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Recovering Canmore to Consider Ways to Repair Cougar Creek
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By Colette Derworiz
With the local state of emergency in Canmore lifted, attention is now turning toward ways to fix up Cougar Creek - a small but powerful stream that has breached its banks for the second time in two years.
On June 19 and 20, the normally tranquil creek running through the mountain town became a raging river.
It led to evacuation notices for 1,200 residents and damaged dozens of homes along the creek's widened banks.
Officials are now conducting an overall assessment in the area to determine the full extent of the damage.
"The town will decide 'are we going to go in and build an embankment up against the foundations and all of that?' " Mayor John Borrowman said in a recent interview. "It'll probably be a week or two to get that understanding.
"In a meantime, the homeowners are encouraged to hire their structural engineers to do their own assessments so we'll get that information pretty quickly."
Up to 45 homes could still be lost because they are partially hanging over the creekbed.
As some homeowners work to deal with their damaged properties, others in the area said there are important questions to be considered about Cougar Creek.
"It's not over," Paul Carrick, who lives on the east side of the creek and lost most of his backyard, said last week as he was being allowed to move back into his home. "Will they rebuild the creek? Will they rebuild our lots? Will there be any cost sharing on that?"
It's the second time in two years that the creek has breached its banks.
Last year, there was at least $1.3 million in damage in Canmore after high stream flows eroded the banks and damaged the pathways along Cougar Creek.
Borrowman said the town will need to move relatively quickly to make a decision on how to deal with it.
"We're hoping to convene a panel of experts in their field, bring all of the people who know the various hydrology issues," he said. "We would hope maybe in the space of three or four weeks they can go through the possibilities and come up with three, maybe four different scenarios."
At least one expert who lives in the community said Cougar Creek has shown that it's a flashy basin.
"It's proven what it is and it's dangerous," said John Pomeroy, a hydrology professor at the University of Saskatchewan who has a home in Canmore. "It's been doing this for a long time. In a perfect world, it would never have been built upon, but we have."
Pomeroy said the town needs to take a closer look at how they rebuild the creek channel.
"From what I can see, they are putting it back as it was, which is astonishing," he said. "I hope that's just a short-term fix until they get something else done. The status quo can't be the answer at all."
Creeks, he said, need to meander to dissipate energy or they end up rapidly eroding the banks during high-flow events.
"It probably means greater width of parkland around it," said Pomeroy. "This is like an untamed horse. It's not going to go where we want it to, necessarily, so we have to give it lots of room."
In addition, Pomeroy suggested that the creek needs to be gauged - complete with a full Alberta Environment weather station in its headwaters to measure precipitation and snow pillow.
"That would have averted so many problems," he said.
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Tide Turning for Alberta's Recreational Property Market. | Activity increased in Sylvan Lake and Canmore in first part of 2013
By Mario Toneguzzi
Alberta's recreational property markets felt the pinch in 2012 but there's "clear evidence" the tide is finally turning, says the RE/MAX Recreational Property Report 2013 released on Tuesday.
"Activity has increased, particularly in recent months, and both of the province's hot spots-Sylvan Lake and Canmore are expected to see sales and prices pull ahead of year-ago levels by year-end 2013," said the report. "Greater confidence has largely been behind the push, along with pent-up demand-particularly in Canmore as well as attractive prices that remain well off peak levels. Buyers recognize that the timing and opportunity are ideal-especially in light of favourable interest rates and a healthy economic outlook. A good supply of product exists, but inventory is quickly thinning in Canmore, where the uptick in demand has been notably sharper."
The report looked at the Canmore market prior to the recent flooding which has devastated the community.
Jessica Stoner, a realtor with RE/MAX Alpine Realty in Canmore, said there could be an immediate effect on market values.
"It's going to affect buying decisions when you're looking at properties that have been directly affected (by the flood)," she said. "There's so many vivid images in the news and social media. Immediately it's going to make things less saleable in the affected areas. I actually don't think it's going to affect the areas that have not been affected.
"I don't know if it's actually going to affect prices. I think it might affect the saleability for awhile but when I say awhile I'm talking months. Within a year things will probably equal out and that's just based on the way things recovered from other water issues that we've had in the past. It doesn't take long. It's a desireable location. It doesn't stop people from buying. It will temporarily pull back I think."
Most every type of product is seeing some action, from single-family homes to condominiums, teardowns and new builds, said the report of the Alberta recreational property market.
"While the boomer segment has not returned in full force, young families and retirees are leading the charge for recreational product from lakefront to mountaintop," it said.
"Affordability remains front and centre, as a more enthusiastic buyer pool emerges to snap up properties offering great value."
In Canmore, the report said 433 homes changed hands between May 2012 and April 2013, a 32 per cent increase over the 328 units reported the 12-month period prior. The average price has remained relatively stable at $550,000 year-over-year, in spite of the uptick.
In Sylvan Lake, RE/MAX said sales are down from year-ago levels but demand is improving. There were nine sales year-to-date in May compared to 12 during the same period last year.
It said values have remained relatively stable with the starting price for a three-bedroom, recreational property on a standard waterfront lot on par with 2012 levels at $750,000.
"Albertans comprise the bulk of buyers, with most hailing from Calgary and Edmonton," said the report.
"Overall, sales are forecast to edge ahead of 2012 levels as the market reaches peak cottage season and, should the current momentum hold, Sylvan Lake could be poised to see a modest increase in property prices for the first time in several years."
Nationally, RE/MAX said greater stability is returning to recreational markets as demand gains traction in major Canadian centres. Starting prices are down or unchanged in 77 per cent of markets examined in 2013 and recreational sales are projected to match and/or exceed 2012 levels by year-end in almost 70 per cent of centres.
"The value in recreational housing markets across the country is virtually unprecedented," said Elton Ash, regional executive vice-president of RE/MAX of Western Canada. "Softer prices, in combination with an overall brighter economic picture and growing consumer confidence levels, have served to bolster activity in this segment. A stronger U.S. economy has also contributed to the traction in the market for secondary homes in Western Canada, as higher values in sun destinations and - in some instances - challenging logistics prompt purchasers to once again consider Canadian options."
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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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