Ask Susanita – Your Calgary Real Estate Questions Answered

August 18th, 2021 by Susanita de Diego

Real Estate is a constantly changing industry!

Keeping up with all of the rules, regulations & market updates are things that your professional REALTOR® is equipped to handle.Ask Susanita - Your Real Estate Questions Answered

In fact, it’s part of our daily practice. We subscribe to several industry regulation bodies, local real estate boards, social media groups, etc. in order to keep up to date and collaborate with colleagues around the globe.

This blog category is dedicated to sharing answers to many common Real Estate questions we are asked.

We hope you find the information valuable and we welcome your questions any time!

Please feel free to send us a note on our Contact Coldwell Banker Complete Real Estate page and we’ll be happy to get back to you, and possibly post your Q&A for others to learn from.

Thanks for visiting! Click this link to read all of our: Calgary Real Estate Questions & Answers

Sincerely,

Susanita de Diego

Susanita de Diego Coldwell Banker Complete Real Estate

Price growth slows as supply to demand balance improves – July 2021 Real Estate Statistics Report

August 5th, 2021 by Susanita de Diego

Price growth slows as supply to demand balance improves

 

City of Calgary, August 2021

 

July sales totaled 2,319 units, which is well above long-term averages and the best July on record. The pace of sales growth has eased over the past few months, but so too has the pace of new listings growth. This has helped prevent any further monthly gains in inventory levels, and while overall supply remains slightly higher than last July, it’s mostly due to gains in apartment and row product.

 

With 6,678 units in inventory in July, the months of supply rose to just under three months. These gains are leading to far more balance between sellers and buyers. However, there is a significant variation between product type, as the months of supply ranged from two months in the detached sector to nearly six months in the apartment condominium sector.

 

“Over the past several months, we have seen housing market conditions trend toward more balanced conditions,” said CREB® Chief Economist Ann-Marie Lurie. “This eased some of the upward pressure on prices, as prices are starting to stabilize following steep gains that occurred in the first half of the year.”

 

Benchmark prices in the city reached $460,100, slightly higher than last month and nearly 10 percent higher than last July. Price growth has been the highest in the detached sector, which currently sits 11 percent above last year’s price and has finally recovered from previous highs in 2014.

 

View the full report here: July 2021 Statistics Report

 

Choosing a Family Dog

July 14th, 2021 by Susanita de Diego

Time to add a dog to the family? No matter the reason you want a dog, the process of choosing the right dog takes a bit of research. When it comes to bringing a pet into the family, it is importantColdwell Banker Complete Real Estate - Choosing a Family Dog to understand the needs of both the dog and your family.

Take Inventory

First things first, take inventory of yourself and your home.

Do you have wonderful memories of having a Lab or German Shepherd chasing you around the yard as a kid and think you want another one? Do you have a yard? Are you able to take them for long walks or runs daily? How big is your home? Labrador Retrievers, Golden Retrievers, and German Shepherds are good breeds for kids and families, however they also have a lot of energy to burn. If you are busy and live in the city, your childhood memories may need to stay a memory while you look for a more appropriate breed for your current situation.

Do you live on an acreage with a lot of space inside and out for a dog to play around in or in a smaller townhouse or condo and spend a limited time outdoors? There are plenty of family friendly breeds for all types of home situations.

The Calgary Winter

As you know, it gets cold in the winter and can dip down to -40 at times, so it is important you choose a breed that won’t freeze during the colder months or you have a wardrobe ready to help them stay warm all year round and space inside for them to get their daily exercise.

To Shed or Not Shed?

How do you feel about dog hair on your furniture or vacuuming for the umpteenth time to keep the carpets from having a layer of fur?
Combing or brushing your faithful friend on a regular basis will reduce the amount of hair shed in the house and gives you some one-on-one bonding time. However, if the idea of your hand being covered in dog hair when you pet them or having to constantly comb their coats to get most of their hair into the garbage instead of the house, you may want to consider a hypo-allergenic option.

Poodles, Terriers, and the Bichon Frise have hair instead of fur, so they don’t shed. Since they don’t shed, they need to visit the doggy hairdresser to get a wash, cut, and blow out. If shelling out money for a trip to the puppy beauty parlour isn’t in your budget, you could always learn dog grooming skills.

Breeders have successfully created hybrid breeds trying to get the temperament of breeds such as the Golden Retriever or German Shepherd with the hypo-allergenic hair of a poodle. The first Labradoodle was bred by Australian Wally Conron as a guide dog for a blind woman whose husband was allergic to dog hair. The Doodle dogs started becoming popular in the last 10-15 years as families began to want a non-shedding option of their favourite pure breed.

Cost

Pure breeds and designer breeds come with a hefty price tag. If you want a puppy for your family, you will be looking at $1 000 on the low end and can expect to pay upwards of $5 000, and you haven’t even paid for their first shots or bag of kibble yet. A larger dog will cost more to feed and non-shedding breed will cost more in grooming.

Training

All breeds need to be trained, but some will need more training than others. Are you a patient person who will enjoy spending time training your new dog or are you too busy to put up with daily messes and mistakes? If you don’t want to spend too much time training and more time doing what you do on a regular basis, consider finding an older well-mannered dog whose owner can no longer care for them. There are several reasons why a pet needs a new forever home, their owner dies, moves, or has a life change the animal cannot be brought into.

If you have the patience to train an animal and deal with their misadventures or bad behaviours, consider a rescue dog with unique needs. Abused animals need someone who can give them understanding, patience, care, and love.

Buy or Adopt

Adopting can cost less than purchasing a new puppy. Adopting an older dog comes with less training, unless the dog was abused or untrained in its last home. Adoption has the added benefit of giving a dog a new home and ensuring they are not euthanised due to being without a home.

If you want to adopt, be prepared for an invasive process where your home and family will be assessed to determine your ability to own a dog. Many families abandon the adoption process due to the requirements, however, many rescue dogs need new homes. Finding the right pet takes time and the organization wants to ensure you are getting the right animal for your family.

If you decide to purchase a new puppy, make sure you are buying from a quality breeder and that the parents are healthy. Though the process is less invasive than adoption, each breeder has their own processes and approval criteria to ensure the animals are going to a good home. To ensure you are getting a healthy puppy, you will want to choose a breeder who cares about where the pup will be going.

Once you have figured out the size, temperament, cost, and training requirements you want in your new dog, it’s time to choose a breed. There are lots to choose from and each breed has its own general temperament, strengths, and weaknesses.

To help you determine which breed to start getting to know, we’ve found these online assessments to help you narrow down your search.

American Kennel Club Dog Breed Selector: https://www.akc.org/dog-breed-selector/

Dog Time.com Dog Breed Selector: https://dogtime.com/quiz/dog-breed-selector

Puppy Spot.com Dog Breed Selector: https://www.puppyspot.com/breed-selector-quiz

Have fun learning more about the dog breeds that are best for you!

Getting Ready for Puppy

July 14th, 2021 by Susanita de Diego

Getting Ready for PuppyThere is a lot to do before you bring the new member of your family home.

Time to stock up on food. Find out what the breeder or the shelter is feeding them and purchase the same type of food to give their digestion consistency while they are getting used to living in their new home. Food and Water dishes come in a variety of sizes and materials. You will need to choose a set that is easy to clean and will hold up to daily use.

Treats, everyone loves treats, even your new pooch. Buy a variety of healthy treats you can use to reward them during training. They can also be used in certain toys to keep your pet occupied for hours.

Before you leave the store, choose a leash and a collar, the type of collar and leash will depend on the strength and size of your dog. Try to purchase a leash that will work now and in the future. You may want to consider a harness because it is easier to control your pet and doesn’t put pressure on their neck.

It’s a good idea to buy an ID tag for the collar to add your name and number, just in case the pup gets lost.

There is one thing you will need to remember every time you go for a walk with your new walking buddy – poop bags. There are different options, like biodegradable ones, with leash attachments.

Other items you can buy and attach to the leash are a training clicker and treat bag.

Other items to buy:
• Brush
• Shampoo
• Ear Cleaning Solution
• Toothbrush & Paste
• Nail Clippers
• Puppy Chew Toys
• Fetch ball
• Tug toy
• Dog Kennel
• Dog Bed
• Puppy Training Pads
• Baby Gate

Puppy proof your home to ensure it can’t get a hold of anything you don’t want it to chew. Use baby gates to keep it contained and have the kennel (crate), bed, and toys all laid out waiting for its arrival.

Looking for other pet related articles? We’ve got more in our Pets Blog Category!

TRANSITIONS Magazine – Summer 2021

July 13th, 2021 by Susanita de Diego

Welcome to the second edition of TRANSITIONS Magazine!

This publication is all about the family dog! We have articles and quizzes to test your knowledge and help you to determine which breed of dog is best for you and your family. Of course you will also find links to trending real estate news and our newest column – “Ask Susanita”!

Enjoy!

Click on some of the highlights we have linked below.

Transitions Magazine Coldwell Banker Complete Real Estate Summer 2021

Featured Articles:

Choosing a Family Dog
Getting Ready for Puppy

Most Recent Real Estate Market Reports:

Market continues shift toward more balanced conditions after torrid start to the year – August 2021 Real Estate Statistics Report

Price growth slows as supply to demand balance improves – July 2021 Real Estate Statistics Report

Supply trends up but market still favours the seller – June 2021 Statistics Report

Inventory rises, but sellers’ market conditions persist – May 2021 Statistics Report

Demand for homes remains high with record sales in April – April 2021 Statistics Report

Ask Susanita!

Why did the Calgary Real Estate Market go crazy in 2020 and 2021?

Where will Calgary home prices go next?

Is now a good time for new buyers to get into the Real Estate Market?

Does Calgary’s economy support a sustained housing market increase?

What do you need to know if you are in a competing Real Estate bid situation?

Watch for our Fall/Winter edition to be released soon!

If you or someone you know has any real estate questions, we’d love to help!

Contact us here: https://www.cbcompleterealestate.com/contact

OR

Phone: 403-686-1455

Email: info@cbcalgary.ca

Thanks for reading!

Supply trends up but market still favours the seller – June 2021 Statistics Report

July 3rd, 2021 by Susanita de Diego

Supply trends up but market still favours the seller

 

City of Calgary, July 2021

 

Calgary’s housing market is showing few signs of letting up, as sales reached 2,915 units in June – a record high for the month.

 

“It is taking time for supply to catch up with the demand in the market,” said CREB® chief economist Ann-Marie Lurie.

 

“Through the early spring market, many buyers did not have a lot of choice, but the recent improvements in supply are providing more options for those purchasers and supporting the strong sales we continue to see in June. At the same time, gains in inventory are taking some pressure off the market as it starts to trend towards more balanced conditions.”

 

New listings in June totaled 4,135, the second-highest level ever recorded for the month. This caused inventories to trend up to 6,918 units. While this is higher than longer-term averages, it was balanced by strong sales and the months of supply remained relatively tight at 2.4 months. However, this is still an improvement from earlier in the year when the months of supply was below two.

 

As the market moves toward more balanced conditions, we are also starting to see the pace of price growth slow. The benchmark home price continued to trend up in June, but the monthly gain slowed to less than one percent. While the pace of growth is slowing, as of June, the benchmark price was 11 percent higher than levels recorded last year.

 
View the full report here: June Statistics Report
 

Inventory rises, but sellers’ market conditions persist – May 2021 Statistics Report

June 1st, 2021 by Susanita de Diego

Inventory rises, but sellers’ market conditions persist

 

City of Calgary, May 2021

 

With 2,989 sales, housing market activity hit a new May record.

Despite strong levels of sales, they did trend down relative to last month. Additionally, there were 4,562 new listings, causing seasonally adjusted inventory levels to increase over last month.

“The recent gains in prices have encouraged more homeowners to list their homes and take advantage of the current market situation,” said CREB® chief economist Ann-Marie Lurie.

“However, the inventory gains are still not enough to offset the demand growth and the market continues to favour the seller. Prices are rising, but they are still recovering in our market from previous highs in 2014. Only detached and semi-detached home prices in certain districts and communities have recovered to the level of previous monthly highs.” The months of supply did trend up slightly this month to just over two months, but it was not enough to halt the upward pressure on prices. The unadjusted benchmark price in May reached $455,200. This is one per cent higher than last month and nearly 11 per cent higher than prices recorded last year.

Sales have been rising across all product types, but homes priced above $600,000 represent a larger-than-usual share of all sales. The upper end of the market only reflected 16 per cent of city sales last May, compared with this year where it now reflects nearly 26 percent of all sales.

 

View the full report here: May 2021 Report

Demand for homes remains high with record sales in April – April 2021 Statistics Report

May 4th, 2021 by Susanita de Diego

Demand for homes remains high with record sales in April

 

City of Calgary, April 2021

 

There were 3,209 sales in April, a new record high for the month, as Calgary’s housing market continues to bounce back from the pandemic lows recorded in 2020.

 

“Despite entering the third wave of COVID-19, there is more optimism of economic recovery when the economy re-opens,” said CREB® chief economist Ann-Marie Lurie.

 

“However, the recent surge in home sales could be a result of potential buyers wanting to enter the market before any further changes occur in prices, interest rates and lending policy. This could erode some of their purchasing power.”

 

Recent price gains and tight market conditions have also encouraged many sellers to list their home this month. However, demand was strong enough to absorb the additional supply, ensuring the market continues to favour the seller.

 

With 4,670 new listings coming onto the market in April, inventory levels trended up relative to last month and last year. With the elevated sales, the months of supply remains below two months.

Persistently tight market conditions are causing significant upward pressure on prices. For the second consecutive month, the unadjusted benchmark price rose by more than two percent compared with the previous month and more than nine per cent compared with last year’s levels.

 

While sales improved across most price ranges, product priced above $600,000 represented 25 percent of the sales that occurred this month. This is a significant increase from last year when they only represented 12 per cent of sales. The shift in distribution is causing both the average and median prices to record double-digit year-over-year price gains.

 

View the full report here: April 2021 Monthly Statistics Report

Calgary housing market sees best March sales in over a decade – March 2021 Real Estate Statistics Report

April 7th, 2021 by Susanita de Diego

Calgary housing market sees best March sales in over a decade

 

City of Calgary, April 2021

 

The initial impact of COVID-19 on the housing market began last March. One year later, it is not a surprise that March sales in 2021 were higher than in 2020. However, at 2,903 sales, this was the highest March total since 2007.

 

“Low lending rates and improved savings have supported sales activity,” said CREB® chief economist Ann-Marie Lurie. “However, sales have been somewhat restricted by the lack of listings. This month there was a jump in new listings, contributing to the strong monthly sales.”

 

Inventory levels pushed above 5,400 units, but citywide months of supply fell below two months. This reflects the lowest months of supply for March since 2014 and these tight conditions have contributed to price gains.

 

In March, the benchmark price trended up over last month to $441,900, over six per cent higher than last year’s levels. The price gains have moved the market closer to recovery, but prices remain over five per cent lower than 2014 highs.

 

“Improving prices will likely support further gains in new listings, as sellers try to capitalize on the recent shift toward rising prices,” said Lurie. “Eventually, this will help support more balanced conditions, but it could take time before we see this shift in the market.”

 

View the full report here: March 2021 Statistics Report

The Report – A Comprehensive Profile of the 2021 Luxury Real Estate Market

March 8th, 2021 by Susanita de Diego

Coldwell Banker Complete Real Estate announces the release of “The Report,” A Comprehensive Profile of the 2021 Luxury Real Estate Market in Canada, the U.S. and Mexico

“The Report” includes input from various Canadian Coldwell Banker Global Luxury Specialists from Coast to Coast, including Calgary based luxury team; THE STARNES GROUP.

Calgary, Alberta (March 8, 2021) – Today, Coldwell Banker Complete Real Estate announces the release of “The Report: 2021 Global Luxury Market Insights,” an in-depth analysis of emerging luxury markets and buyers. This report was curated by Coldwell Banker Real Estate LLC, a Realogy (NYSE: RLGY) brand, and Coldwell Banker Global Luxury®

Susanita de Diego, Owner/Broker of Calgary, Alberta, Canada based, Coldwell Banker Complete Real Estate states, “This is an important publication for those invested in the North American luxury real estate market and includes across the board comparisons for the median sold prices, days on market, and list price to sale price ratios for the top 10% priced properties of key Canadian cities including Calgary”.

Included in the report are noteworthy trends shaped by an extraordinary year full of uncertainty and change, as well as top performing luxury markets of 2020 and those to watch in 2021.
This year, “The Report” combined sales data analysis with a record number of in-depth interviews from Coldwell Banker® Global Luxury® Property Specialists providing on-the-ground perspectives from diverse real estate markets. An entire section was dedicated to Mexico and Canada featuring Ottawa, Toronto, Vancouver, Halifax, and Calgary being noted as Canadian markets to watch in 2021.

Rachelle Starnes, President and CEO of luxury real estate specialists, THE STARNES GROUP, a part of the boutique Calgary brokerage Coldwell Banker Complete Real Estate, states “The pent-up demand for luxury homes over $1M is quickly emerging with sales in January and February of 2021 hitting 198 units sold (single family detached homes, CREB MLS® Reported Sales) in Calgary, Rocky View County and Foothills County. This sets a record for the last five years. The sales for the first two months of 2021 are up 128% over 2020 and 133% from 2019, for the same period.”

Starnes says “We should see an increase in prices with this excessive demand which has been fueled by the lowest uber luxury home prices we have seen in years. Resale prices are far below the cost to build and funds previously used for travel are now being invested in ‘staying at home.’ Because some mortgage interest rates have increased this week from 1.44% to 1.74%, prudent buyers will be pushing to get their interest rate locked in and purchase within the next 30 days.”

New definitions of luxury — like the intangibles of family, health, space and security — spurred new affluent living trends in 2020 as buyers realigned priorities by seeking out properties with access to the outdoors, privacy, and more space. Demand for mega mansions, estates and other luxury compounds surged, with 55% of Luxury Property Specialists surveyed that more square footage was the number one amenity that flipped in demand from 2019 to 2020. A new affluent demographic, known as Trailblazers, drove shifting buying trends as they migrated away from cities in favor of small, hidden gem towns, the suburbs, and second home destinations.

As wealthy homebuyers embraced new lifestyles, new trends prevailed. The top preferences expected to have staying power over the next 5 years include: the home office (27.5%), demand for a second home (22.5%), and the desire for single-family detached homes (22.5%).

In 2020, there was a dramatic change in many luxury markets that had been buyer’s or balanced markets in 2019. Escalating demand now pushed these markets into seller market territory, which is only anticipated to continue into 2021. To determine the Top 10 “Power Markets” of 2020, the Coldwell Banker® brand collaborated with The Institute for Luxury Home Marketing to analyze the markets with at least an average of 50 sales per month and the highest sales ratio percentages.

“The Report” also identified four key categories of emerging markets across the luxury home sector offering a range of lifestyle amenities, cultural experiences, and educational opportunities. The unexpected rise of these locations underscores the unforeseen dynamics at play during 2020 as the pandemic impacted many buyers’ decisions.

“Looking ahead, many positive economic indicators and demographic trends are becoming evident in 2021. Record levels of international migration, particularly to Vancouver and Toronto, are expected to impact the sales of luxury homes. Pent up demand and historically low inventory will continue to drive fierce competition for listings, with luxury properties in high demand.”

– Andy Puthon, President, Coldwell Banker Canada

“International buyers used to account for more than 30% of luxury home sales in our market but travel restrictions ended the influx in 2020. Properties in many luxury areas in and around Calgary which sold in 2012 for C$4M are now being offered for less than $2.5M and properties once offered at C$20M are being auctioned by luxury auction houses with sale prices less than C$6M. Because of the lowest luxury prices we have seen in recent history there are incredible opportunities in Alberta for luxury buyers. We predict even greater demand once the borders reopen and international buyers flood back into Alberta for its clean air and reputation as a destination of choice for luxury buyers”.

– Susanita de Diego & Rachelle Starnes with Coldwell Banker Complete Real Estate

MLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association.

The data included on this website is deemed to be reliable, but is not guaranteed to be accurate by the Real Estate Board. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.