Sharon Bercuson

Sharon: 403.874.9078 |

We've just reduced the price on this great starter home in Deer Ridge to $375,000! 

 

This incredibly spacious and bright 4 level split home on a quiet cul-de-sac comes with an oversized double detached garage while still allowing plenty of yard space!! 

 

Click here to see more details about this steal of a deal home in the SE community of Deer Ridge. 

 

Better yet, join us at our OPEN HOUSE this weekend:

Saturday February 3, 2018 from 2 - 4:30pm

 

127 Deer Ridge Place SE

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Home sales rebound in October


For the first time in two years, sales activity in October resembled normal levels. City-wide sales totaled 1,644 units, which is an increase of nearly 16 per cent over last year.

“The shift in sales activity this month is likely related to the new mortgage rule changes, inventory gains in the lower price ranges and further price adjustments,” said CREB® chief economist Ann-Marie Lurie. “The combination of all these factors may have encouraged some purchases to take advantage of the market conditions, particularly in the lower price ranges. However, with several factors at play, the monthly shift in demand may be temporary and will need to be monitored over the next several months.”

Sales activity rose across all product types in comparison to last year, but the largest gain in sales occurred in the detached sector at 18 per cent. There was a noticeable shift in sales activity by price range in October. In the detached market, homes priced between $300,000 and $400,000 saw the largest improvement in sales, while attached and apartment sales growth was mainly occurring in the lower price ranges. 

“This year has been a challenge for many sellers,” said CREB® president Cliff Stevenson. “So when we have a rise in sales, it means more buyers got into the market and more sellers got out, which is a positive for consumers on both sides of the transaction.”

“Sales activity changed direction in October, but we need to see some consistency next month and the month after to call it a trend,” adds Stevenson. “For now it’s a nice building block.”

Despite the monthly rise, year-to-date sales activity in all sectors remained lower than last year’s levels and well below longer term trends. In fact, year-to-date sales activity has totaled 15,642 units, which is 6.3 per cent below last year’s levels.

While increased activity in the lower price ranges had a greater impact on the average and median price, benchmark prices once again edged down in October. The city-wide unadjusted benchmark price totaled $438,900, or 0.34 per cent below last month and four per cent below last year’s levels.
 
Since the start of the downturn, home prices have declined from a low of 3.8 per cent in the detached market to a high of 9.4 per cent in the apartment condominium sector. And, despite the rise in October sales, monthly prices continued to decline for most product types in the market.

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As you may have heard by now, there are some major changes coming this month to mortgages. The change that is going to affect us and our clients the most is called the Rate Stress Test. We are including the following information, provided to us from one of our favourite Mortgage Brokers (Contact info at the bottom of this email)


We feel he has done a great job of breaking it down and making it easy to understand amidst the flurry of information out there. If you have any questions at all, please don't hesitate to contact us. Bottom line - if you are even considering getting into the Real Estate Market and have less than 20% to put down on your property, let's act quickly (YES, there IS still time!)

With the new rule changes, you are losing up to 20% of your purchase power. See below for more information and don't hesitate to contact us or Steve, or we can point you to a number of other recommended Mortgage Brokers who truly understand the changes and how to work within them.

 

 

The following two articles make it the most clear because the first is direct from the source.  The second is just well written.  I will paste other articles below but many newspapers get some facts wrong.

 

 

http://www.fin.gc.ca/n16/data/16-117_1-eng.asp

 

 

http://www.theglobeandmail.com/real-estate/four-major-changes-to-canadas-housing-rules/article32223470/

 

 

The main change is to have to "stress test" approve any insured mortgage after Oct 17th.  This means that for less than 20% down purchases, and or occasional over 20% insured situations, buyers must qualify as if the the rate were the BOC Bank of Canada 5 yr benchmark.  Currently that rate sits at 4.64%.  Even when their actual mortgage rate is say as low as 2.39%

 

The feds want people to be able to afford rate inflation.  These clients still get the current rate in the 2.39% - 2.49% 5 yr fixed and that won't change after the 17th.  What changes is that your insured mortgage shoppers limit will be based as if their rate is 4.64%.  This will reduce maximum purchase price by around 15-20% (general estimate as each file differs).   

  • A 100k household income who could buy up to $650k now will reduce to $510k
  • A 75k household income who could buy up to $460k today will reduce to $370k

Probably the most immediate and important factor for you is the implementation period. 

 

This change takes effect Oct 17th.  Because banks need time to process a file and send it to an insurer, I would set your cut off date for new contracts at Oct 12th. 

 

You could potentially even have a file close say up to a year later ( I think ) in the case of a build as long as the contract is in before the cut off.  And those situations need some other advice.  If you have buyers who want or need to qualify at the actual 5 yr rate then have them check with me asap.  I mean ASAP.  It may be a crazy next 10 days.

 

This change will not affect buyers who always liked variable.  Their max pp will be the same before and afterward.

 

This change will not affect buyers who always buy well within their limits.

 

This change won't yet affect investment property buyers.  As long as we use the right bank and rules don't tighten further.

 

This change is arguably going to be a medium & long term silver lining for the condo issues going on.  Nothing will help much in the short term.  But many buyers with less than 20% down will be pushed into a price point where only condos exist.  People planning on a house may have to settle first for a condo.

 

This change is likely to increase fixed rates sooner than later.

 

Existing rate saves and pre-approvals will all change due to the new rule effective Oct 17th.  So a last minute pre-approval won't do anything to extend a buying period at the actual lower rate to set a purchase limit.

 

This change will potentially kill anyone who is in a rent to own situation contract.

 

This change may affect people in the middle of or considering a build.  Please refer them to me.

 

This change is very likely to make it harder for people to switch banks at maturity.

 

This change may increase renovations versus selling and buying. 

 

other articles....

 

https://twitter.com/mortgage_tree/status/783116527897751552?cn=ZmF2b3JpdGU%3D&refsrc=email

 

http://www.moneysense.ca/spend/real-estate/mortgages/mortgage-insurance-changes-will-impact-buyers-and-banks/

 

http://www.cbc.ca/news/business/ottawa-housing-tax-real-estate-1.3788725

 

Steven Crawford - Sr. Mortgage Broker

Mortgage Alliance 

Cell Phone / Text - 403-608-7516

Fax to EMAIL 1-888-415-8279

Email - scrawford@mortgagealliance.com

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Demand down with net migration


In step with City Census data on declining net migration levels, housing sales activity totaled 1,741 units in July, a 12.6 per cent decrease over last year and the 20th consecutive month of year-over-year sales declines.

 

"Continued pullback of sales activity is a sign of economic conditions," said CREB® chief economist Ann-Marie Lurie. "The number of unemployed workers keeps rising and when you combine job losses with declining net migration, the result is going to be weaker housing demand."

 

Slower sales were accompanied by declining new listings in July. This helped prevent further inventory gains and minimize the downward pressure on benchmark prices. By months end, the residential benchmark price was $440,000, similar to last month, but 4.2 per cent below July figures from the previous year.

 

While detached prices seem to be leveling, this is not the case for all property types. With over six months of inventory in the apartment sector, oversupply continues to create steep price declines.

 

The apartment benchmark price totaled $277,000 in July, a 0.4 per cent decline over the previous month and 6.6 per cent below last year's levels.

 

City-wide benchmark prices for detached product totaled $502,300 in July, which is similar to last month, but 3.4 per cent lower than last year's levels. Meanwhile, semi and row attached product recorded a year-over-year decline of 3.1 and 5.5 per cent for July prices of $385,200 and $310,300.

 

"To buyers and sellers that have been paying attention to the housing market in Calgary and surrounding areas, it should come as no surprise that we continue to see a slowdown in sales activity," said CREB® president Cliff Stevenson. "Buyers are expecting further declines in sold prices, and sellers are adjusting to softer demand with price decreases. When these expectations intersect, we're seeing sales activity in the market, but not at the level realized over the last several years."

 

Click here to view the full City of Calgary monthly stats package.

 

Click here to view the full Calgary Region monthly stats package.

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Home prices down, but not out

Calgary home prices continue to slide in most areas of the market, but not at the rate that many might expect. This is partly due to June’s resiliency in the detached and semi-detached sectors of the market, where sales compared to new listings and standing inventory started returning to more balanced levels.

“The detached market has been gradually moving towards more balanced conditions, helping to prevent price levels from declining at the faster rates we saw in the previous two quarters,” said CREB® chief economist Ann-Marie Lurie. “While this is welcomed news for sellers, it’s very likely that pricing challenges will persist in the housing market until economic conditions start to improve.”

Detached benchmark prices totaled $502,400, which is 0.4 per cent higher than last month, but 3.4 per cent lower than last year’s levels. This is the first time in eight months that detached prices recorded a monthly gain, helping ease the quarterly decline from 2.2 per cent in the first quarter to 0.7 per cent in the second quarter.

Overall sales activity remained relatively weak in June, falling by seven per cent to 2,028 units. Inventory levels went in the other direction and continued to climb in June to 5,973 units, 16 per cent higher than last year. Both the attached and apartment segments of the market have recorded inventory gains around 30 per cent, far greater than the year-over-year increase of five per cent in the detached sector.

Higher inventories and weaker demand continue to have a larger impact on pricing in the apartment and row sectors. June apartment prices slid by another 0.1 per cent over last month, pushing the average year-to-date benchmark price down 5.3 per cent below last year. Attached product experienced a monthly slide of 0.3 per cent, mostly due to steeper price declines in row style product.

“The price adjustments that we’ve seen in the past year have allowed some buyers to get into homes that were previously unattainable,” said CREB® president Cliff Stevenson. “This is especially true for homeowners with financial stability and a good amount of equity in their home. With so much choice out there, it’s giving consumers an opportunity to find their ideal home at a price they can afford.”

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary Region monthly stats package.

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The SD Team is so excited to now be able to offer 3D digital imaging tours and doll house imaging on all our listings!! Matterport 3D is the next wave of amazing online imaging technology that allows you to see an entire house as 2D floor plans and as a 3D doll house and as 360 degree panoramas!

 

Prospective buyers can quite literally walk through the home! Additionally, they can see the entire home in a doll house style image to see the exact layout. We are so proud to be able to offer this to all our sellers...part of our complete package servicing we continue to offer all our clients! Check out our very first Matterport 3D tour here!

 

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'Tis the season for summer time BBQ's, so we're sharing a bit of our favourite thing about this season...the BBQing!

 

When the SD team isn't out helping our clients buy and sell in the Calgary Real Estate Market, we'll usually be found relaxing in our Back Yard with the kids running around making mud with the hose and swinging on their double swing.

 

One of our all time favourite things to do on the BBQ...Cedar Planking! 

 

 

If you've been one of our clients over the past few years you may have received one of our famous Cedar Planks, along with our great Cedar Plank'd Salmon recipe. Well, we're out there again this year. If you have not received one this year, or in the past, be sure to give us a shout out and we'll ensure you get one this year!!

  

In case you need it, we're posting that amazing Salmon recipe here for you to come back to throughout the summer! (and even into the winter if you're like us and don't let the weather stop your BBQing!)

 

We've also got our BBQ seasoning recipe as well, which can be used for so much more than just this great recipe!

 

Enjoy!!

 

 

 

 

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Some 15-plus food trucks will be in attendance at this year’s event, serving all manner of fare. Wilk’s Booth is just one of the many mobile eateries gathering for the big food truck cook up and will be on site offering handmade burgers, twice-cooked fries, poutine, and more." Event Dates: April 23 & 24


http://calgarybuzz.com/2016/04/yyc-food-trucks-spring-frenzy-calgary/


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Housing prices trend down in March

Unemployment impacting housing activity

Click here to view the full monthly stats package.

Home prices declined further in March as economic conditions weigh on Calgary’s housing market. 

Calgary’s benchmark price totaled $442,800 in March, a 0.49 per cent decline over February and 3.51 per cent lower than levels recorded last year.

“With no improvement in the labour market, it’s no surprise that we continue to face downward pressure on housing sales activity and prices,” said CREB® chief economist Ann-Marie Lurie.

“Provincial unemployment rates are at the highest level recorded since the early ‘90s,” said Lurie, adding that Calgary’s unemployment rate in February rose to 8.4 per cent, which is higher than the provincial average of 7.9 per cent.

March home sales in Calgary totaled 1,588 units, 11 per cent below the same time last year and 28 per cent lower than long-term averages for the month.

Calgary also saw housing supply gains in most price ranges. Inventory levels rose by seven per cent to 6,084 units in March. Overall, months of supply has averaged five months in the first quarter of 2016.   

“As we move into spring, we are starting to see more foot traffic at open houses and showings from potential buyers,” said CREB® president Cliff Stevenson. “For now, this activity hasn’t translated into improved sales in most segments of the market.”

The apartment sector has been the hardest hit by the recent downturn. After the first quarter of the year, apartment sales totaled 554 units, a 17 per cent decline over the same period last year.

Apartment benchmark prices have been trending down since late 2014. In March, benchmark apartment prices totaled $281,300, seven per cent lower than levels recorded prior to the slide and 4.93 per cent lower than levels recorded last year.

The detached and attached sector has also felt the brunt of Calgary’s weakening economy. Detached and attached home prices have dropped by four per cent from the recent peak.

“Homebuyers continue to wait and see if there are going to be further declines in home prices before making an offer,” said Stevenson. “Timing the bottom of the market is proving to be quite a challenge in the housing market we are faced with now.” 

 

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I just finished uploading this Business only for sale, None, Haysboro, Calgary, Alberta

Well established SW Calgary Based Closet Organizers & Shelving Systems destination store. Specializing in creating a perfect custom design that is incredibly functional, practical, which utilize every inch of available space in the Bedroom, Garage and living area. Just came on the market after 10+ years. Owners are retiring after enjoying success & a good living for many years. This industry leader operates from an efficient, fully-equipped modern 2200 SF facility with all the amenities inc modern manufacturing facility, advanced equipment & Showroom in a SW high traffic destination urban location. The day to day running of the business inc sales, marketing, manufacturing, installation and office operations are well managed by the owner operator. The opportunity to further amplify sales /manufacturing & installation is an opportunity that exists with increased staff, marketing and networking. **1000's of repeat and referral clients. **Full service, Turn key operation. **Leading edge products.

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Calgary Real Estate Forum - Economic outlook - most informative speaker I have heard in a long time, Speaker is Ex-CIA !!

Geopolitics and Energy
October 2015
OPEC Watch List
What a difference a year makes




Which OPEC producers have suffered the biggest reversal of fortunes and who is most at risk of a meltdown in the months
ahead?

If the strategy to wait for a market rebalance
were not to pay off in 2016, an OPEC
course correction should not be ruled out, in
our view.
 There are two key decision makers to
watch.

Saudi decision making
and
Russian decision making


the ‘fragile five’ is one of the most interesting aspects I have seen

Read the full presentation below



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Prices decline for the second consecutive month

Sales activity remains well below long-term averages

Click here to view the full monthly stats package.

Elevated inventory levels in October contributed to a second consecutive month of price declines in Calgary’s resale residential housing market.

Benchmark prices declined 0.7 per cent from the previous month, and 1.2 per cent from the same time last year, to $453,100.

"Persistent weakness in the overall economy continued to impact housing demand in Calgary as October sales were nearly 16 per cent below long-term averages,” said CREB® chief economist Ann-Marie Lurie. 

“In addition, new listings did not decline enough to prevent inventory gains and, ultimately, price contractions.”

The steepest declines occurred in the apartment sector, where the benchmark price fell to $288,300, a 0.8 per cent decline from September and nearly four per cent from the same time last year.

Lurie attributed the declines to a continued rise in months of supply – from a low of three months in June to nearly six months in October.  

“That sector is facing added competition from several new apartment projects, improved vacancy in the rental market and more supply in the attached sector,” said Lurie, noting months of supply in the sector has remained above four since August.

“When combined with a steep pullback in demand, it creates conditions that generally favour the buyer.”  

Aggregate prices in both the detached and attached sector also recorded both monthly and yearly declines, but were moderate compared to apartments due to less severe drops in absorption levels.

In this type of market, both sellers and buyers need to have those hard discussions with their real estate professionals about their objectives,” said CREB® president Corinne Lyall, noting increased competition from both the rental and new home markets.

If sellers are serious about selling, they need to consider how they are positioning their home on the market. Buyers, meanwhile, have to consider whether that home satisfies their lifestyle needs.”

Overall, October sales in the city declined by 33 per cent year-over-year to 1,421 units, with year-to-date sales falling by more than 26 per cent.

Meanwhile, inventory levels during the month remained at 5,578 units, pushing months of supply up to 3.93.   

Market balance in the detached sector, which accounts for more than 60 per cent of all sales in the city, varied depending on price segment.

More than half of detached sales in October occurred below $500,000, where demand relative to supply remained relatively tight – thereby potentially offsetting some of the price losses in the higher end of the segment.  

Sales activity has varied depending on market segment and price,” said Lyall.

For example, while some price adjustments have occurred in the higher-end detached category, this is less likely for the under-$500,000 detached segment, which had more balanced conditions.


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I just finished uploading this Office for sale, 209 1829 54 Street SE, Forest Lawn Industrial, Calgary, Alberta

Incredible Owner/User/Lease opportunity to own / lease 2560 sq.ft of well built out office / meeting / common space in Forest Lawn on busy street corner. Two bays (easily demizable) combined as one ,separation agreement in place. Completely renovated with LED dimmable lighting, sound proof insulation in ceiling and walls. Static proof carpets. CCTV Camera system - exterior / Interior with multiple cameras, 55" HD TV, Computer/DVR. Fully wired for Networking and High Speed Internet. Great second floor location with natural light. Can be used as office, meetings etc. DC zoning. Includes Shared kitchen and Handicapped Accessible Bathroom/Shower. This is a self managed condo building. Each Unit has its own rooftop HVAC Unit - less than 1 year old. Quick Access to major arteries and downtown.** Not suitable for Churches or Large gatherings with Large Parking Requirements.

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Prices ease as expected

Inventories rise as sales activity softens further

Click here to view the full monthly stats package.

Following four months of relative stability, unadjusted benchmark prices eased as expected in September to $456,300, a 0.26 per cent decline compared with last year.

Most of this aggregate moderation was due to price declines in the apartment sector brought on by higher-than-average inventory levels.

“Overall sales activity relative to new listings caused a softening in absorption rates, which resulted in inventory gains and ultimately placed moderate downward pressure on pricing,” said CREB® chief economist Ann-Marie Lurie.

Residential sales in the city totaled 1,448 units in September, well below typical activity levels for this time of year. Year-to-date Calgary sales remained below both the five and 10-year year averages by a respective 10 and 26 per cent. 

“Rising unemployment and persistent weakness in the local economy is impacting housing demand,” said Lurie. “However, unlike earlier this year when consumers were reacting to uncertainty, recent activity reflects current economic conditions.” 

While all property types recorded a notable drop in the sales-to-new-listings ratio, both the apartment and attached segments saw the most significant declines. Ratios in both categories dropped to the 40 per cent range, while months of supply pushed up to 4.95 and 4.35, respectively. 

In comparison, the detached category saw its ratio hover around 50 per cent in September and months of supply settle at 3.32.

Elevated inventory levels in the apartment segment, in particular, are the result of moderate listing declines relative to sales activity, noted Lurie. 

Year-to-date apartment sales have fell by 32 per cent, while listings have dropped by just 7 per cent. 

As a result, the apartment benchmark price totaled $290,600 in September, a 1.19 per cent decline over last month and 2.71 per cent below last year.

CREB® president Corinne Lyall said that while the apartment sector now favours buyers with added selection and attractive pricing, other factors will continue to play into purchase decisions.

“While the apartment sector offers more choice, not all units are created equal,” she said. “When considering apartment condominiums, it’s important to understand that the corporate and physical health of the building can also influence both buying and selling decisions in this type of market.”

Despite higher months of supply, typical home prices in both the detached and attached sectors remain relatively unchanged in September, totaling $517,200 and $357,000, respectively.

Although citywide inventory levels remain elevated compared to activity seen in the past three years, Lyall noted they still remain well below highs recorded during the previous economic downturn in 2008/09. 

“There is no question that we have seen a shift in our local housing market conditions, but it needs to be put in perspective,” she said.

Aggregate prices have eased by one per cent from the beginning of the year, a moderate correction when compared against the aggressive gains last year that averaged more than nine per cent, noted Lyall.

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We are proud to announce that this Oct 4th, 2:00 PM to 4:30 PM we will be hosting an Open House at 86 SKYVIEW SPRINGS Rise in the Skyview Ranch neighborhood, Calgary. This is an opportunity to visit this excellent House for sale in beautiful Skyview Ranch.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Skyview Ranch House for sale.

As always please do not hesitate to give me a call at 403-252-5900 if I can answer any questions before the open house, or if you would like to book a private showing.

Sharon Bercuson and Darren Abrahamson
Solutions

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Please note the change for this upcoming openhouse.

We are proud to announce that this Oct 4th, 2:00 PM to 4:30 PM we will be hosting an Open House at 86 SKYVIEW SPRINGS Rise in the Skyview Ranch neighborhood, Calgary. This is an opportunity to visit this excellent House for sale in beautiful Skyview Ranch.

Please come with any questions you may have. In the meantime you can take a virtual tour of this Skyview Ranch House for sale.

As always please do not hesitate to give me a call at 403-252-5900 if I can answer any questions before the open house, or if you would like to book a private showing.

Sharon Bercuson and Darren Abrahamson
Solutions

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I just finished uploading this Condo for sale, 505 1033 15 Avenue, Connaught, Calgary, Alberta

Incredible opportunity to own your own home or investment property in the heart of the inner city of Calgary! This 1 bedroom/1 bathroom unit is in great condition with a spacious floor plan! Modern Polished Concrete floors throughout the living and dining rooms. Large living room open to the dining room. Kitchen has ample cabinets and counter space. Large storage room in your unit (plus additional storage locker downstairs!) One of the best balconies in the city - facing South for great sun exposure and HUGE - runs the length of the entire unit. Overlook the sights of 17th Avenue. Don't just watch the happenings....you are steps to one of the greatest districts in Calgary! Also steps to downtown, transit, shopping, cafes, parks, and more! Don't miss out on this great opportunity. Two common laundry rooms per floor - you'll never find yourself waiting for a machine. An incredible unit PLUS: Underground Heated parking. Well run condo in a solid pet friendly building (1 small dog / 2 small cats allowed)

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I just finished uploading this Agri-business for sale, 6403 198 Avenue W, None, Rural Foothills M.D., Alberta

Stunning private parcel of land located just South of Calgary behind Spruce Meadows. This beautiful 5.27 lot is currently being used as a Spruce Tree farm with 2,000+ mature Spruce Trees. It is the perfect building site for your dream home on a treed lot. Continue to operate the tree farm, a discretionary use according to the MD (just need to apply for permitted use, should be no issues). Live in your dream home, operate a Spruce Tree farm, live the life!! Close to all city amenities while having your country privacy and 5+acres.

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