OPEN HOUSE

SATURDAY, MAY 12, 2-4 PM

206 MT NORQUAY PARK SE

Stop by and check out this fantastic ridge home.  New pricing in effect this week  - $50K.  

OPEN HOUSE

SATURDAY MAY 5 2-4PM

Stop by and check out this amazing condo

Casel was recently awarded the SAM Awards for "Best Apartment Style Condo) for 2011

801, 2505 - 17th Avenue SW

http://wynncarr.com/listing_detail-7078625.html

OPEN HOUSE TODAY

SATURDAY APRIL 28,  2-4PM

801, 2505 - 17TH AVENUE SW

SAM AWARDS WINNER FOR "BEST APARTMENT STYLE CONDO" (April, 2012)

http://wynncarr.com/listing_detail-7078625.html

Happy St Patrick's Day to Everyone

The Celtic knot symbol, is also referred to as the mystic knot, or the endless knot. The more esoteric or spiritual meaning of this symbol eludes to beginnings and endings. In viewing these beautiful knots, we cannot see a beginning or and end, and therefore we are reminded of the timeless nature of our spirit. This translation harkens to our most primal selves as we contemplate the infinite cycles of birth and rebirth in both physical and ethereal realms.

A less spiritual representation is also related to the knots endless nature. Due to it's infinite path, the Celtic knot can represent an uninterrupted life cycle. Some may use this symbol as a charm of sorts – warding against sickness or setbacks that might interfere with an otherwise calm and stable life. In this vein, these knots are used as emblems, which can be found in jewelry, clothing, or home décor. In ancient times, gifts adorned with mystic knots would be given with best wishes of longevity, or luck with new endeavors.

Live it!

Steady Growth Forecast for Calgary Market

CALGARY — Steady growth is forecast for Calgary’s housing market in the next two years, according to a new report released Monday by Canada Mortgage and Housing Corp.

The agency said MLS sales in the Calgary census metropolitan area will grow to 23,000 transactions in 2012 and to 23,700 in 2013 from 22,466 in 2011.

The CMHC said the average sale price will rise from $402,851 in 2011 to $409,000 in 2012 and $420,000 in 2013.

The optimistic forecast also translates into the new housing market.

The CMHC is predicting housing starts in the Calgary region to jump from 9,292 in 2011 to 10,300 in 2012 and 10,700 in 2013.

“Economic activity in Calgary will continue to support housing demand throughout the forecast period,” said Richard Cho, senior market analyst in Calgary for the CMHC. “Sustained investments in the energy sector will not only create jobs in the energy industry but also promote activity in other industries leading to more employment opportunities for job seekers. Employment levels in Calgary steadily rose in 2011 and the same is expected for 2012. As labour market conditions gradually tighten, we can expect to see higher migration flows to Calgary which is also an important driver for housing demand. In addition, favourable mortgage rates will also contribute to more sales in the new home and resale market.

“More single-detached and multi-family homes are forecast to break ground this year. In the past, elevated active listings in the competing resale market contributed to fewer single-detached starts. However, as the resale market becomes more balanced this year coupled with improving demand, we can expect to see more single-detached homes start construction. Multi-family construction will also pick up this year and next, mainly from higher apartment starts. Apartment inventories have come down from their elevated levels providing some builders an opportunity to start more projects and help satisfy demand.”

In Alberta, the CMHC forecasts housing starts to jump from 25,704 in 2011 to 29,100 in 2012 and 30,000 in 2013.

Source: Calgary Herald

WITH RATES SO LOW, NOW IS A GREAT TIME TO BUY
 

MORTGAGE UPDATE

There is lots of hoopla going around about the Big 6 Bank’s 5-year fixed rates at 2.99%. The info below explains it in just 4 points.  It is very important to note these “specials” are very restricted products and there are other full featured options out there at the same rates.

The bank “specials” mostly have:

• A maximum amortization of 25 years.
• Not able to refinance out to a different bank for a competitive rate – they must refi into the same lender only - and thank you for paying the full 3 month interest penalty and/or even higher IRD, too!
• No payout is allowed unless it is with a Bona Fide 3rd party sale within first 3 years.
• AND most importantly what happens in 5 years? Regardless of how high the rates are, the maximum amortization remaining is 20 years. How would it be possible to get lower payment then? They would have to do the restricted refinance as above. And if they are already at 95% financing with capitalized default insurance premium....what are the chances they will get another insured refinance because the recent rule changes limit the maximum refi to 85% LTV. Now what? 

Rates
Here are the competitive current FULL FEATURED rates;
· 4 year, 2.99%, the 30 year average is 6.2%
· 5 year, 3.29%, the 30 year average is 6.5%
· 10 year, 4.49%, usually at 7.5%
· The 0 down is still here at posted rates of 5.15%

For the easy explanation, check out Mark Herman's blog at: http://blog.markherman.ca/2011/12/19/why-you-should-get-a-rate-hold-right-now/

If you require great mortgage advice, contact Mark Herman at Mortgage Alliance at:  mark.herman@shaw.ca

Christmas in The Rockies!  

Why not spend Christmas Day in the majestic setting at The Banff Springs Hotel.  There is no no end of fantastic activities and wonderful dining experiences to be enjoyed.  Check it out below!

http://banff.mobi/pc/banff-springs-christmas/

Calgary luxury home market booming
Increase in upper-end condo, single-family sales
 

Calgary’s luxury home market has seen a spike in demand this year with sales in the upper-end approaching the record levels of 2007.....

According to the Calgary Real Estate Board, so far this year from January to November there have been 25 MLS condo sales over $1 million compared with 19 for the same period in 2010.

Year-to-date, there have been 406 single-family sales at that price point, up from 326 a year ago.

The record number of luxury home sales in the Calgary market took place in 2007 with 431 single-family sales over $1 million and 30 condo sales in that price bracket.

Sano Stante, president of the Calgary Real Estate Board, said there is a lot of confidence in the local real estate market these days.

He said many oilpatch executives are showing confidence because of what they see coming up for the future with projects in the energy sector.

“Those are the people that are buying these properties. So there’s confidence in that realm,” said Stante.

“There’s a fair bit of inventory out there available in that upper range as well. The people who are buying them now are being selective in the upper-end, in the luxury market. There’s a lot of good product to choose from and they’re selecting only the best deals. So homes in the luxury range have to be priced right to sell in a reasonable amount of time.”

According to CREB, the top sale prices for single-family homes in Calgary this year have been $4.525 million in Rideau Park, $3.995 million in Elbow Park-Glencoe and $3.8 million in Aspen Woods.

Top selling condos this year have been $4.1 million in Eau Claire, $2.935 million in Eau Claire and $2.05 million in Victoria Park (Listed and Sold by Wynn Alex Carr, Sotheby's International Realty Canada).

Hughes said one factor in the demand for upper-end product is executives who have been relocated to Calgary.

“They like the high-end condo market,” said Hughes. “We’re also seeing these young professionals — the investment bankers, the lawyers, whatever they might be doing — they work really hard ... They’re looking at that high end.

“And then there’s that investment side of it too. Some people shudder when you mention a million-dollar condo but compared to a lot of other markets what you get here for $1 million, $2 million, is a lot more than you’re getting in some of the other markets. And people see that.”

Hughes said there are people who are also buying these upper-end condos and renting them out to executives in the oilpatch.

Source: mtoneguzzi@calgaryherald.com

Client Compliment:

Wynn -

I wanted to send you a quick note to thank you very much...

I am now fully moved in and settled at Union Square and very happy with the unit. I am enjoying not driving 45 minutes to and from work each day and the views at night are truly spectacular. It was a pleasure working with you on what turned out to be a pretty smooth transaction - thank you for all of your hard work and professionalism - it was a pleasure working with you. Regards, Greg

Client Compliment:  

"Wynn provided us with service of the highest quality when acting as our agent. She was available to answer any questions or concerns we had and always provided sound and professional advice. She is hands down the best agent we have ever used and we would recommend her, or use her again ourselves in a heartbeat." KM & B.Miller

 http://wynncarr.com/listing_detail-6332059.html

Calgary Herald Article - November 4, 2012

Check it out here!

http://blogs.calgaryherald.com/2011/11/04/high-priced-calgary-condo-sells-for-over-2-million/
 

Attending Sotheby's Global Network Conference - Miami.

Calgary House Prices Fifth Highest in Canada

Calgary MLS sale prices are the fifth highest in Canada, according to the latest data from the Canadian Real Estate Association.

In September, Vancouver had the highest prices in the country with an average sale price of $751,042 followed by Victoria (($493, 522), the Fraser Valley ($489,420), Toronto ( $465,369) and Calgary ($406,252).

On a year-over-year basis, Calgary’s average price climbed 1.3 per cent.

Year-over-year price gains were 10.5 per cent in Vancouver, 1.7 per cent in Victoria, 10.0 per cent in the Fraser Valley and 8.9 per cent in Toronto.

Fall Market Update

Canadian Housing Market Insight

According to the latest Canadian Real Estate Association (CREA) statistics released in September 2011, the national housing market stayed firmly entrenched in balanced territory in August, setting the tone for what is expected to be a stable market into the fall.

Notably:

Sales activity remained stable from July to August, but posted a significant year-over-year gain.
Year-to-date sales pulled ahead of 2010 levels for the first time this year, and remained in line with the ten-year average.
There were more balanced local markets in August than at any other time on record.
The national average price posted another year-over-year gain in August, but has moderated from elevated levels earlier this year.
Upward skewing of the national average price is diminishing due to fewer expensive sales and a declining share of national activity in Vancouver and Toronto.
Among major urban centres, Toronto and Ottawa posted a monthly increase in activity while Calgary, Montreal and Vancouver saw a slight decline.

Check out this Sotheby's Blog Article at:

http://www.sothebysrealty.ca/blog/a-fine-balance.html

Where Fashion Lives

International Designers at Home

Explore the fall issue of International Architecture & Design for an insider’s glimpse into the homes of the world’s hottest fashion designers, including Zadig &Voltaire designer Thierry Giller’s contemporary Paris apartment, Lisa Perry’s playful New York City penthouse and shoe designer Michel Perry’s modern, bohemian 17th century chateau.

Email me at http://www.wynncarr.com/contact.html to receive your complimentary subscription to Sotheby’s International Architecture & Design exclusive Quarterly publication.
 

This afternoon, Ross McCredie, President and CEO of Sotheby's International Realty Canada was interviewed on Fox - Canadians Buying in USA. Check it out at:

http://video.foxbusiness.com/v/1163749675001/

CREB July Monthly Statistics

/siteFiles/File/July%202011%20Monthly%20Housing%20Statistics.pdf

Just Released! Sotheby's International Realty Network
Significant Global Sales for May, 2011

Check it out at the link below: 

http://invision.sotheby.mindmatrix.net/LiveContent/Emails/83384/SIR_May2011.pdf

Pending Sale on 1805 - 7th Street SW

Inner city HOUSING MARKET LEADS IN SALES

Buyers find value in inner city communities

Calgary, June 1, 2011 – According to figures released today by CREB® (Calgary Real Estate Board), year-to-date residential sales in the inner city grew nearly 4 per cent, outperforming the city wide average. City of Calgary residential sales totaled 1,816 in May 2011, a 2 per cent increase in volume over May 2010. However, slower early spring sales resulted in the overall year-to-date sales being 3 per cent lower than the 2010 spring market. 

As the city grows, improvements in the inner city communities are consistent with changing preferences in lifestyle options. 

“Consumers are looking for shorter commute times to work and easy access to a wider range of services provided by these inner city communities,” says Sano Stante, president of CREB®. 

“Many of these communities are surrounded by abundant amenities such as parks, mature trees, diverse shopping and transit which appeals to a wide range of consumers; furthermore, inner city homes can be considered a stable real estate investment, as there is significant value in land located near the city’s core.” 

The average price for single family homes in May 2011 was $489,482 and the median price $423,000, comparable to levels recorded last year. Single family home sales were 1,313 in May 2011, a 5 per cent increase over last year, while 2,552 listings came to market, a 14 per cent decline over the same period last year. 

The decline in listings has caused inventory levels to come down to 4,616 units, an 18 per cent decline from last year. Moderate sales and a reduction in inventory have resulted in a decline in months of supply compared to May 2010. 

To date, the single family market has fared better than the condominium market, as prices have come down from peak levels recorded in 2007 providing individuals more options with regard to home ownership, noted Stante. After the first five months of the year, single family home sales were 5,835 units, consistent with sales levels during the same time frame last year. 

“With just under four months supply, we expect single family home prices to remain stable in the coming months,” says Stante. “Provided that interest rates remain moderated, we are positive about the near term stability and recovery in the Calgary real estate market.” 

“While condominiums continue to experience some decline in sales and prices, the rate of decline seems to be easing, indicating signs of improvement in this market” adds Stante. 

The inventory of condominiums continues to remain higher than average, but has declined by 21 per cent from levels recorded in May 2010. 

Condominium sales were 503 for May 2011, 3 per cent lower than last year’s figures. Year-to-date condominium sales are 11 per cent lower than last year’s levels, however, listings have declined by 19 per cent as well over the same time frame, placing downward pressure on inventories. 

“Full time employment growth has been sluggish in Calgary, with only notable improvements occurring in April,” says Stante. “All indications point to the trend that as full-time employment growth takes hold in the later portion of the year, so too will improvements in migration, ultimately translating into improvements in the housing market.”
 

Home Sales Continue Climb!

Check this article out at:  http://business.financialpost.com/2011/05/17/home-prices-continue-climb/

REMAX MAINSTREET!

'It's Time to Buy Again,' says Fortune
 

TIME TO BUY: The cover story in the April edition of Fortune magazine trumpets that "housing is back."

"After four years of plunging home prices, the most attractive asset class in America is housing," proclaims Fortune magazine, one of the world's premier business publications, in its April cover story.

The article, headlined "The Return of Real Estate," explains that several market forces have created a more promising outlook for the industry. An excerpt:

So let's state it simply and forcibly: Housing is back. Two basic factors are laying the foundation for dramatic recovery in residential real estate. The first is the historic drop in new construction. The second is a steep decline in prices, on the order of 30% nationwide since 2006, and as much as 55% in the hardest-hit markets. The story of this downturn has been an astonishing flight from the traditional American approach of buying new houses to an embrace of renting. But the new affordability will gradually lure Americans back to buying homes. And the return of the homeowner will start raising prices in many markets this year.

The author, Senior Editor-at-Large Shawn Tully, acknowledges that demand has been extremely weak in recent years, but notes that a "remarkable shift in home affordability" and the cost of owning vs. renting bode well for housing's immediate future.

The second measure, the cost of owning compared with renting, should also inspire potential buyers. In 28 out of 54 major markets, it's now cheaper to pay a mortgage and other major costs than to rent the same house. What's most compelling is that in all of the distressed markets, owning now wins by a wide margin -- a stunning reversal from four years ago. It now costs 34% less than renting in Atlanta. In Miami the average rent is now $1,031 a month, vs. the $856 it costs to carry a ranch house or stucco cottage as an owner.

Some cities, especially those not immersed in foreclosures, will rebound sooner than others, Tully writes, but even the hardest-hit markets have reason for some level of optimism. One big reason: Investors.

"People always want to live in those sunny locales, and their job markets are starting to recover, albeit slowly. In foreclosure markets, the inventory problem is far greater because it includes not just traditional resale homes but millions of distressed properties. Fortunately those houses are now such a screaming deal that investors, including lots of mom-and-pop buyers, are purchasing them at a rapid pace."

The bottom line, Tully concludes, is that it's a great time to buy. His article's final advice for those on the fence:

Beat the crowd.

© 2011 RE/MAX, LLC. RE/MAX Affiliates may share this article, provided they do not charge for it and this notice is included. All other rights reserved.
 

First-time buyers in major Canadian markets move to get in ahead of higher interest rates, says RE/MAX

Check out this article @: http://www.remax-western.ca/news/first-time-buyers-major-canadian-markets-move-get-ahead-higher-interest-rates-says-remax. Wynn Alex Carr, Re/Max First
 

  RE/MAX Agents Raise $62,487.00 for Children’s Miracle Network at Annual Conference Luncheon February 5, 2011 in Vancouver - check it out below

http://www.remax-western.ca/news/remax-agents-raise-6248700-children’s-miracle-network-annual-conference

http://www.creb.com/public/mediaresources/CREB_Supports_Secodary_Suites.pdfhttp://www.creb.com/public/media-resources/CREB_Supports_Secodary_Suites.pdf

http://www.realestate-canada.com/2011/02/03/progress-made-in-calgary%e2%80%99s-homelessness-initiative/

http://www.realestate-canada.com/2011/02/03/calgary-house-sales-show-modest-growth-condos-not-keeping-pace/