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Improving the Calgary Real Estate Experience: Finding Your Dream Home

Calgary Real Estate: Finding Your Perfect Home

Welcome to our comprehensive guide to Calgary real estate! If you're looking to buy or sell a property in this vibrant city, you've come to the right place. Diane Richardson has compiled this resource to help you navigate the Calgary real estate market and find your dream home. I understand that finding the perfect property can be a daunting task, but with my in-depth knowledge and extensive research, I aim to make the process as smooth and enjoyable as possible.

Why Choose Calgary?

Calgary is a city brimming with opportunity, offering a high standard of living, a strong economy, and a thriving real estate market. Whether you're a first-time homebuyer, an investor, or someone looking to relocate, Calgary has something to offer for everyone. From stunning mountain views to a vibrant downtown core, this city has it all. Let's dive into the key factors that make Calgary an ideal place to live and invest in real estate.

Economic Prosperity and Job Opportunities

Calgary boasts a robust economy, primarily driven by the oil and gas industry. However, it is important to note that the city has been diversifying its economy in recent years, with significant growth in sectors such as technology, healthcare, and finance. This economic stability and diversification translate into a wealth of job opportunities, making Calgary an attractive destination for professionals and families seeking long-term career prospects.

Natural Beauty and Outdoor Recreation

Nestled in the heart of Alberta, Calgary is surrounded by breathtaking natural landscapes. The city is just a short drive away from the Canadian Rockies, offering easy access to world-class ski resorts, hiking trails, and stunning national parks. Whether you enjoy outdoor activities like skiing, hiking, or simply appreciating the beauty of nature, Calgary provides endless opportunities to explore and enjoy the great outdoors.

Community and Lifestyle

Calgary is renowned for its friendly and welcoming community spirit. The city offers a range of diverse neighborhoods, each with its own unique charm and character. From vibrant urban areas with bustling entertainment districts to quiet suburban enclaves with family-friendly amenities, Calgary has a neighborhood to suit every lifestyle and preference. Whether you're seeking a tight-knit community, top-rated schools, or proximity to amenities, Calgary has it all.

Exploring the Calgary Real Estate Market

Now that we've highlighted the key reasons why Calgary is an excellent place to live and invest, let's delve into the specifics of the local real estate market. Understanding the market trends, property types, and pricing dynamics is crucial when embarking on your real estate journey.

Market Overview and Trends

The Calgary real estate market has experienced steady growth in recent years, driven by a combination of factors such as population growth, economic stability, and affordability compared to other major Canadian cities. Although market conditions can vary, it is generally considered a balanced market, offering opportunities for both buyers and sellers.

Property Types and Neighborhoods

Calgary offers a wide range of property types to suit different preferences and budgets. From single-family homes and townhouses to apartments and luxury condos, the city's real estate inventory caters to a diverse range of lifestyles and requirements. It's important to work with a knowledgeable real estate agent who can guide you through the various neighborhoods and help you find the perfect property that aligns with your needs.

Calgary is divided into quadrants : northnorthwest, northeast, southwest, southeast, west and downtown Calgary. Each quadrant has its own unique neighborhoods and characteristics.

Inner-City & Downtown: Includes neighborhoods such as Beltline, East Village, and Mount Royal. It is known for its mix of older and newer homes, as well as a growing number of condos and townhouses. It is home to many businesses, restaurants, and attractions.

Northwest: Includes communities such as Tuscany, Livingston, and Evanston. It is known for its large, newer homes and family-friendly atmosphere.

Northeast:  Includes communities such as Cityscape, Redstone, and Skyview. It is known for its mix of single-family homes and condos, as well as its growing population and increasing number of amenities.

Southwest: Includes communities such as Springbank Hill, Aspen Woods, and Signal Hill. It is known for its upscale homes and natural beauty.

Southeast: Includes communities such as Auburn Bay, McKenzie Towne, and Cranston. It is known for its newer homes and family-friendly atmosphere.

These are just a few examples of the many neighborhoods in Calgary. Each area has its own unique appeal, and it's essential to explore them in-depth to find the one that best suits your lifestyle and preferences.

Finding Your Dream Home in Calgary

Now that you have a better understanding of the Calgary real estate market and its various neighborhoods, it's time to focus on finding your dream home. Here are some essential steps to help you along the way:

Step 1: Define Your Priorities

Start by clearly defining your priorities and requirements for your ideal home. Consider factors such as the number of bedrooms and bathrooms, desired square footage, specific amenities, and proximity to schools, parks, and transportation.

Step 2: Determine Your Budget

Establishing a realistic budget is crucial before beginning your home search. Consult with a mortgage professional to understand your financing options and determine how much you can comfortably afford. This will help narrow down your choices and ensure you're looking at properties within your price range.

Step 3: Engage with a Knowledgeable Realtor Diane Richardson

Partnering with a reputable and experienced real estate agent Diane Richardson is invaluable when navigating the Calgary market. I have access to the latest listings, market insights, and can guide you through the entire buying process. I will listen to your needs, show you suitable properties, and negotiate on your behalf to secure the best possible deal.

Step 4: Conduct Thorough Research

Once you've established your criteria, it's time to dive into comprehensive research. Utilize forsaleincalgary.com, Dianerichardson.ca or Diane-Richardson.com and Diane's expertise to explore listings, view virtual tours, and gather all the necessary information about the properties that catch your interest.

Step 5: View Properties and Make Informed Decisions

Schedule viewings of the properties that align with your criteria. Take the time to visit each property, assess its condition, and envision yourself living there. Pay attention to factors such as the neighborhood, proximity to amenities, and any potential renovations or repairs that may be required.

Step 6: Make an Offer and Close the Deal

Once you've found your dream home, work with your real estate agent to prepare a competitive offer. They will guide you through the negotiation process, ensuring you get the best possible terms. Once your offer is accepted, work with your agent and other professionals (such as a lawyer and home inspector) to complete the necessary paperwork and finalize the transaction.

Conclusion

Congratulations on taking the first steps towards finding your dream home in Calgary! By leveraging our comprehensive guide and working with Diane Richardson real estate professional, you'll be well-equipped to navigate the market and make informed decisions. Calgary offers a diverse range of neighborhoods, property types, and lifestyle options, ensuring there's something for everyone. Remember to stay patient, conduct thorough research, and trust the expertise of your real estate team. Good luck on your Calgary real estate journey, and may you find a home that brings you joy and fulfillment for years to come!

CONTACT DIANE RICHARDSON:

Here are a few ways to make it easy for you to get in touch with Diane Richardson:

  1. Contact form: a contact form here on my website can allow you to send me a message directly from this page. Be sure to include your name, email address, and a message.

  2. Phone number: Included is my phone number here on the page can allow you to call you me directly with any questions or to schedule viewings. 403.397.3706

  3.  Email address: an email address ( Diane@Mypadcalgary.com )can allow you to reach out to me with any questions or to request more information.

  4. Live chat: I have a live chat feature on this website, you can get in touch with me in real-time and get immediate answers to your questions.

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Alberta economic boom shows no signs of slowdown Growth leader forecast for 2014

BY MARIO TONEGUZZI, CALGARY HERALD DECEMBER 13, 2012

CALGARY — Alberta’s economic boom is showing little sign of slowing down, according to the latest RBC Economics Provincial Outlook released Thursday.

RBC forecasts that Alberta will continue to be among the fastest-growing provincial economies in 2013 with a real GDP growth rate of 3.5 per cent, second only to Newfoundland & Labrador’s 4.4 per cent.

Alberta will regain the top spot in the country in 2014 with Real GDP growth forecast at 4.2 per cent.

“Alberta is in the midst of an impressive economic boom, with activity in the province surging by 5.1 per cent in 2011 and remaining on the fast track in 2012,” said Craig Wright, senior vice-president and chief economist with RBC. “While massive investment in the energy sector – which was the key catalyst for the economic boom – has been tempered recently, strong capital expenditures and rapid momentum in other sectors will keep the economy moving ahead at a sustained clip.”

But RBC said the mood in the province remains somewhat cautious, as Alberta’s oil sector finds itself increasingly “land locked” due to pipeline bottlenecks. It said major players in the oilsands have cited delivery challenges and a greater than usual discount on wellhead prices as reasons for delays in spending on mega projects.

RBC said these delays have raised some concerns about the sustainability of business investment in the province and it expects major players in the oilsands to remain generally cautious in 2013, keeping spending in a holding pattern while pipeline issues are addressed and crude oil price relationships normalize.

The report said Alberta will benefit from broad-based expansion in 2013, with strong population growth and employment continuing to fuel consumer spending and housing activity showing continued vigour. On the business side, rising demand for commercial and industrial space will support growth in capital spending outside the energy sector.

Economic growth for this year is estimated at 3.8 per cent, the best in Canada, following 2011’s 5.1 per cent which also set the pace for the rest of the country.

“We anticipate that Alberta’s growth will slow modestly next year thanks in large part to the lull in oilsands investment,” added Wright. “However, sufficient progress in resolving these oil delivery issues in 2014 should allow for major projects to proceed, setting the stage for a 4.2 per cent re-acceleration in growth.”

The Canadian economy is forecast to grow by 2.4 per cent in 2013 and 2.8 per cent in 2014 after an estimated 2.0 per cent growth this year.

In its quarter economic forecast released Thursday, TD Economics said Canadian economic growth is expected to edge down to 1.7 per cent in 2013, before picking up to a healthier 2.5 per cent in 2014.

“In Canada, the first half of 2013 is shaping up to be quite soft. Fiscal consolidation in the U.S. alone could shave 0.5 percentage points off Canadian economic growth through lower exports and the knock-on-effects to other areas of the economy,” said TD. “Beyond mid-year, the rebound in the U.S. should help support a modest recovery in Canadian export growth.

“However, the Canadian economy will still face headwinds from a high Canadian dollar, elevated household debt and government restraint.”

Source:http://www.calgaryherald.com/story_print.html?id=7693125&sponsor=curriebarracks


 

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Calgary's healthy housing market

Will van ‘t Veld
Economist, ATB Financial

September 6, 2012

 

After a spring of defying the negative national housing market sentiment, the Calgary market cooled a bit in August. But, Alberta’s largest city remains one the nation’s most solid real estate markets. Back in February, the inventory-to-sales ratio in Calgary began to dip, as sales increased faster than new listings, indicating the market had quickly dipped into sellers’ territory. Buyers have since reversed that trend slightly, with the Calgary Real Estate Board reporting that monthly
sales in August dipped 11.6 per cent month-over-month.The swing in housing market activity can be seen in average residential price changes. That average residential price nudged down to $417,000 in August, a 2.2 per cent drop from July, which is nonetheless 3.1 per cent higher than a year ago. The MLS also computes a benchmark price, which is less volatile. The benchmark price adjusts for specific features, such as lot size, bedrooms and location. The jump in the MLS benchmark price index through 2012 has been pretty impressive, up 6.5 per cent on a year-over-year basis. Activity in the single family detached home market has been particularly strong over the past year, with the MLS benchmark index jumping 7.8 per cent yearover-year in August. This is the main reason the overall residential home price index has increased so noticeably, as detached homes make up the vast majority of residential sales.
For their part, condo and town home prices have been plodding along, with the benchmark price increasing 3.3 and 2.6 per cent, respectively, on an annual basis.

 

Calgary Home Inventory to Sales Ratio

http://www.industrymailout.com/Industry/Home/4706/17195/link389955/Daily%20Economic%20Comment%206-SEP-2012.pdf

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Calgary housing market among Canada’s most affordable: RBC  
Stronger home resales and new construction

BY MARIO TONEGUZZI, CALGARY HERALD AUGUST 27, 2012
http://www.calgaryherald.com/business/Calgary+housing+market+among+Canada+most+affordable/7149520/story.html 
http://www.rbc.com/economics/market/pdf/house.pdf 

CALGARY — The Calgary-area housing market remains one of the most affordable in Canada, according to a report released today by RBC Economics Research.

The latest Housing Trends and Affordability Report said the local market has enjoyed the best of all worlds recently: stronger home resales and home building, moderately rising prices, and attractive and improving affordability.

“Such a combination is a rare feat, but it follows years of sluggish performance in the aftermath of the area’s mid-2000s boom,” said the report. “In the second quarter of 2012, a sharp drop in the costs of utilities provided unusual help to affordability in the area. Utilities and property taxes—two small components of home ownership costs—typically do not sway affordability, but the sudden reversal of earlier electricity rate increases led to a substantial 17 per cent quarterly decline in utilities, which was more than enough to move the affordability needle.”

In the second quarter, the RBC measures edged lower for condominium apartments and two-storey homes by 0.6 percentage points and 0.4 percentage points, respectively, while the measure for detached bungalows was unchanged in Calgary.

“Such general amelioration kept housing affordability in check at some of the better levels among Canada’s largest cities,” said the report.

The RBC Housing Affordability Measure, which has been compiled since 1985, shows the proportion of median pre-tax household income that would be required to service the cost of mortgage payments (principal and interest), property taxes, and utilities.

In the second quarter, RBC measures for Calgary edged lower for condominium apartments by 0.6 percentage points to 21.6 per cent and for two-storey homes by 0.4 percentage points to 37.2 per cent. The measure for detached bungalows remained unchanged at 36.7 per cent.

RBC said significant drops in the prices for electricity and natural gas in the second quarter of 2012 in Alberta “further solidified this province’s position as the market with the lowest home ownership costs as a share of household income in Canada.”

The RBC measures eased by 0.6 percentage points for both two-storey homes and condominium apartments, while the measure for detached bungalows edged lower by 0.3 percentage points, it said.

“Alberta experienced a 17 per cent decline in utility costs, which was the largest contributor to across-the-board improvements in housing affordability in the most recent quarter,” said Robert Hogue, senior economist, RBC. “Attractive affordability and a vibrant provincial economy are providing powerful incentives for Alberta homebuyers – second quarter home resales were at the best level in five years, surging 18 per cent over the same period last year.”

The affordablity measures in Alberta were: 32.0 per cent for detached bungalows; 34.8 per cent for two-storey homes; and 19.7 per cent for condominiums.

In Canada, they were: 43.4 per cent for bungalows, up 0.2 per cent; 49.4 per cent for two-storeys, up 0.6 per cent; and 28.8 per cent for condominiums, unchanged.

How the RBC Housing Affordability Measures work 

The RBC Housing Affordability Measures show the proportion of median pre-tax household income that would be required to service the cost of mortgage payments (principal and interest), property taxes, and utilities on a detached bungalow, a standard twostorey home and a standard condo (excluding maintenance fees) at the going market prices.
http://www.rbc.com/economics/market/pdf/house.pdf 

 

 

 

 

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