Real Estate blog Calgary


Displaying blog entries 1-6 of 6

Bank vs Monoline - Lenders Pay out:

by Stewart J Lowe and Anne M Lindsay

Bank vs Monoline lenders Pay out:

FYI: This is really interesting, in the past if you had a mortgage with a big bank and your rate was 5 year fixed at 2.99% and you wanted to break the mortgage for what ever reason they would compare it to the rate based on what term you have left in the mortgage. So for example you have 2 years left and it was 2.5% then you would have a penalty of the difference which is .49%. What they are doing now is instead of using the rate you have (2.99%) they  compare it to the posted rate at the time you signed the mortgage. Today that rate is 4.64% so the penalty would be 4.6% – 2.5% which is 2.1%!! Of course they say you can always port your mortgage with out penalty but it’s not as easy as it that as what you may think. The good monoline lenders still use the old way to calculate the penalty which is a substantial cost savings should they sell or want to pay the home off.

Calgary's Top 15 Communities

by Stewart J Lowe and Anne M Lindsay

Calgary’s top 15 communities

1. Elboya
2. West Hillhurst
3. Rosedale
4. Sunnyside
5. Elbow Park
6. Altadore
7. Inglewood
8. Ramsay              
9. Hillhurst
10. Parkhill/Stanley Park
11. Tuscany
12. Crescent Heights
13. Shaganappi
14. Lake Bonavista
15. Edgemont

​Avenue Magazine

Market remains balanced despite easing in absorption rates

by Stewart J Lowe and Anne M Lindsay

Supply gain in apartment sector threatens to impact price

Declines in residential housing sales activity eased in July, creating, when combined with stable inventory levels, no change to the month-over-month price.

Year-over-year sales fell by 14 per cent to 1,995 units in July, compared to a 17.8 per cent decrease the previous month. Despite the decline, sales activity during the month was consistent with the 10-year average.

While sales decline eased, so too did the decline in new listings, causing the unadjusted sales-to-new listings ratio to edge down to 67 per cent in July and months of supply to increase to 2.53 months.

“As weakness in the energy sector continues, this is trickling into several other aspects of our local economy, including our housing market,” said CREB® chief economist Ann-Marie Lurie.

Despite weaker absorption rates, market conditions remained relatively balanced and helped maintain month-over-month stability in benchmark prices, which remained unchanged from the previous month at $455,400.

“Often, the focus is on home prices. In fact, Calgary has recorded significant gains in home prices over the past several years,” said Lurie. “And despite the recent retraction, we have not seen all those previous gains eroded.”

While benchmark prices exhibited some month-over-month resilience, they still declined by 0.15 per cent annually and one per cent lower than levels recorded in January. It represents the first time since 2011 that benchmark prices have posted a year-over-year decline.

Lurie attributes most of the year-over-year decline to the apartment sector, where prices fell by 1.61 per cent to $293,300 – nearly two per cent lower than the price at the beginning of the year – due to weak demand and growing supply.

Year-to-date new listings in the apartment sector declined by 4.6 per, while sales declined by 29 per cent over the same period, resulting in inventory gains. By July, the months of supply pushed up to 3.77 months compared to three months in June.

“The relatively weak demand for apartment product, combined with rising supply, continued to place downward pressure on prices for the second month in a row,” said Lurie.

CREB® president Corinne Lyall noted Calgary’s housing market is continuing to see some nuances in supply between the different segments of the market.

“These differences are really important to understand as it relates to consumer expectations,” she said. “Some buyers expect they will get major price reductions in this market, but that’s not always the case. In some areas, supply levels are more balanced with demand and that creates price stability.”

Meanwhile, detached home prices remained steady month-over-month at $515,300. While absorption rates eased in the sector, conditions remained relatively balanced.

“Many clients are optimistic about the long-term outlook and are less concerned about short-term fluctuations in the housing market,” said Lyall.

“They’re focused on taking the time they need to make the right choices for their lifestyle. Saying that, it’s important to stay current and become educated with the market dynamics in the communities where they may be making real estate decisions.”



by Stewart J Lowe and Anne M Lindsay

We are please to have sold 24061 Meadow Drive Bearspaw. A beautiful McKinley Masters built home on 4 acreas within minutes of the city. Congratulations to the Browns!


by Stewart J Lowe and Anne M Lindsay

Despite sales in Bearspaw being slow at the moment buyers are still seeing value in the one million plus price range home on 4 acres. We are pleased to mark our listing on Coyote Valley Road as SOLD. Congratulations to Dino & Marie who had lived there for over 21 years!

Stewart J Lowe & Anne Lindsay


by Stewart J Lowe and Anne M Lindsay

The New Condo Market is up in Calgary

Calgary’s new condo market found its footing over the second quarter following the initial shock of the energy sector downturn, says Altus Group.

In a report Thursday, it said second-quarter sales were 29 per cent lower than the average of the past three years, significantly better than the first quarter when sales fell 62 per cent compared with the 2012-2014 average.

Altus Group said 907 new Calgary condos were sold between April and June compared with 1,418 for the same 2014 period. While consumer confidence has improved since the first quarter, increased competition means the smaller pool of buyers has been diluted, it said. Inventory levels grew 14 per cent as sales failed to keep pace with new units coming onto the market.

The more than 3,000 available units, as of the end of June, mark the highest level since the fourth quarter of 2008.

The report said the increased inventory is concentrated in pre-sales. Standing inventory remains below 2010-2012 levels with less than 10 per cent of the available units move-in ready, it said.

“Higher levels of pre-sale availability is reducing buyer urgency and putting downward pressure on pricing. Consumers are taking the time to comparison shop between projects, examine options on the resale market, and negotiate whenever possible,” said the report.

“Projects with faster possession timing or moderately more aggressive pricing incentives and negotiation tactics are outperforming the rest of the market.”

Ian Meredith, consultant with the Altus Group, said the improvement in sales comes as people got over the initial panic of the oil price downturn and the associated layoffs.

“Calgary’s paradigm has shifted into a slower pace of growth, sure. But the city is still demonstrating a consistent level of demand for new condominium product, albeit in a more competitive environment and at a much more moderate pace than the market has grown used to over the past three years,” he said.

According to the Calgary Real Estate Board, MLS sales in the apartment market in the city of 1,782 units were down 29.4 per cent in the first half of this year compared with the same period a year ago.

Mario Toneguzzi 

Calgary Herald

Displaying blog entries 1-6 of 6




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Photo of Stewart J. Lowe &  Associates Real Estate
Stewart J. Lowe & Associates
Real Estate Professionals Inc
202 5403 Crowchild Trail
Calgary AB T3B 4Z1
Direct: 403-850-0669
Fax: (403) 476-7608