Hello! Spring is around the corner and you can certainly tell by the number of listings in the McKenzies. Just a few months ago, it was difficult to find homes to show to buyers, but there are more coming on the market every day! However, the good ones seem to be going fast so I tell buyers to bring their chequebooks! (So they are ready to write a deposit cheque and put in an offer right away)

My teammate, Debbora White, and I had a very busy Open House at one of our listings in McKenzie Lake last Sunday. We were surprised at the turnout as the house is a million dollar listing. But it is a Ridge home and there are people that have been waiting for years for the right Ridge home to go on the market. Ridge homes are located on the Ridge of McKenzie Lake and have unbelievable views of the mountains, the Bow River, Fish Creek Park and the Calgary skyline. This particular listing on Mt Alberta View has views of all of these! It’s spectacular. Here’s two photos to show you why EVERYONE wants the live on the Ridge.

Ridge homes are also available in Cranston in the southeast, but there is no access to a community lake there. But in Cranston, you can buy new home construction on the Ridge.

If you are considering a move to the deep south of Calgary, I’ll be glad to provide you lots of information about the different communities to make sure you find the home that best suits your lifestyle and your family! Check out www.deepsouthcalgary.com to find out more!

http://www.calgaryherald.com/business/real-estate/Calgary+home+prices+forecast+rise+2010/2297992/story.html

http://www.theglobeandmail.com/globe-investor/personal-finance/fasten-your-seatbelts-home-buyers/article1419098/

Howdy! Everyone’s favourite pastime seems to be watching the “market”, whether it is stocks or real estate. Summer was good to Calgary — it was busy with July recording 2,853 sales and August 2,403. Inventory is down though, so selection isn’t what it was in 2008. There is now less on the market than there was in January of this year. Yikes!

What does that mean to buyers? Well, prices are starting to increase, so those great deals that could be had a few months ago are harder to get. The average price of a house in Calgary reached $454,130 in August 2009, up three per cent over August of last year. Mortgage rates are still a deal, but they won’t stay low for long. Buyers have to be fast on their feet. They have to be preapproved, have their deposit ready, and bring their chequebooks when viewing homes. Waiting even a day or two has lead to losing the house more than a few times over the past month.

Still there are some beautiful homes available in the deep south area of Calgary. I keep seeing some super 4-bedrooms lately and there is a house hanging over the Bow River in McKenzie Lake that is a rare find–an amazing view of the river, Fish Creek Park and the Rocky Mountains. I’ve put some first-time buyers into beautiful townhomes and settled some retirees into gorgeous condos. Seeing some families happy in their new home has put a smile on my face too!

For sellers, this is the time to put your house on the market. Houses are selling very close to the listing price and we have been in multiple-offer situations recently. The inventory of single-family homes in Calgary is only at 3,296, down 40 per cent (!) from August 2008 when there were 5,541 homes to choose from.  It is a GREAT time to list your house.

If you would like to talk more about real estate in Calgary, just email me or give me a call! The fall real estate season is upon us! — Krista

Howdy folks!

I get emails and calls from people who are thinking of moving to Calgary and want to know more about the city. Of course our most famous event is the Calgary Stampede, but you don’t know until you live in Calgary how much it affects the whole city during the 10 days it’s held. Businesses slow down, it’s hard to reach anyone, everyone is on vacation…that means business people, retailers, young people and families. It is amazing how involved Calgarians get in the Stampede.

Even I admit that I have been taking in all the events that I can! I managed to get the whole family down to the parade (at 7 am) and we all really enjoyed it. We found room for all of our camp chairs and I noted that many people brought their chairs the night before, looped rope around them and tied them to a tree or a sign. When they arrived in the morning, they had the best seats along the route (although some were a little wet from the downpour in the early morning hours). The parade has 800 horses in it, tons of bands and is really terrific!

The family also visited the Stampede Grounds for the Chuckwagon Races and the Grandstand Show. The prices for these tickets can be a little high (ours were $78 each), but it’s a full evening (from 8 pm until 11:30 pm). The Big Show was fantastic with a good variety of entertainment and the best fireworks I’ve ever seen (probably because they are so close!). The midway is packed with the latest rides and all kinds of attractions. Is it me or are those rides absolutely terrifying now? I can’t even watch other people ride them, let alone get on one myself!

It is absolutely necessary to attend at least one Stampede breakfast and they are easy to find. Just check the Calgary Herald for listings each day. The ones marked Caravan are the best as they are the official Stampede ones and include entertainers, Stampede princesses and pony rides. Others are held in communities and put on by sponsors–they are usually very well done as well. I never miss the McKenzie Towne one! And it was great this year and blessed by perfect weather (luckily the rain held off until noon). Stampede breakfasts are always free!

So if you’re thinking of moving to Calgary, rest assured that come July, you’ll be putting on your western wear and a cowboy hat to Stampede with the rest of us! Ya-hoo! Oh yeah, you’ll be called upon to say yahoo a lot so start practicing

Hello from the Deep South area of Calgary. Summer is in full swing now and we’re all in countdown mode to the Calgary Stampede. There is a pancake breakfast here in McKenzie Towne during the Stampede and it is really a lot of fun. High Street is completely closed down, a great breakfast is provided for free along with all kinds of little gifts, and there are games for the kids. I’ll be there for sure! Here’s a photo from last year…

Last weekend, I ventured to the Saskatoon Farm, about 15 minutes south of the McKenzies. A great place to buy trees, shrubs and any plant. They have a fantastic little restaurant too with buffalo burgers and delicious desserts. I highly recommend a visit — get directions at http://www.saskatoonfarm.com.

Also paid a visit to the Greek Festival in Calgary this week. There are some really fun cultural festivals throughout the city all summer and it’s a blast to sample the cuisine, music and flavour. So you might have missed it this year, but make sure you go for the next one. (http://www.calgaryhellenic.com)

Despite all the fun I’ve been having, it has been a very busy time in real estate. Calgary is actually in a balanced market now! Sales of houses have been increasing, while the inventory of homes has decreased substantially. In May of 2008, there were almost 15,000 homes listed in the Calgary area and in May of 2009, that has dropped to 10,000. There are a lot of first-time buyers out there and prices are holding quite steady (the average is now $436,427, but in May 09 70% of all the homes sold were less than $400,000).

What does this mean? Well, for buyers, they have to be ready to jump. Twice last week, a house that I was viewing with clients was sold while we were looking at it. That’s frustrating if a buyer decides to make an offer! Buyers have to come with a chequebook and be ready to make a decision. It also means that negotiating a much lower price is more difficult — I’m seeing most listings sell at a few thousand dollars less, not 5-10 per cent less. And the selection may be less appealing. The really attractive homes go fast and buyers may have to select from ones that need work, are in a little less desirable location, or don’t have all the bells and whistles and granite that everyone loves.

For sellers, this means it is a good time to put your house on the market. Over the first half of the year, sellers had to put up with lower priced offers, longer times on the market, and less interest overall. Now, with the inventory shrinking, Realtors need more houses to show! In McKenzie Lake, there are only a handful of homes on the market — we need people to put their homes up for sale! In McKenzie Towne, there are more homes, but they are selling very quickly. Single-family house sales were up 23 percent in the last month!

School is finally out this week, so summer will truly be here. If you are planning a move to Calgary or within Calgary, give me a call or an email (krista@deepsouthcalgary.com). My partner, Debbora White, and I will be glad to show you the neighbourhoods in Calgary and help you choose a home that best suits you and your family. We offer two Realtors for the price of one! (And the best real estate experience in the city…) Happy househunting!

There is a perception that homes are very expensive in Calgary, and that is true when compared to places where home costs are relatively low. But in the past year, home prices have really come down. In 2007, it was very difficult for a  first-time homebuyer to come up with a downpayment and be able to afford a mortgage payment when most Calgary homes where in the $400,000 range. (As my parents said, “Almost a half-million dollars for a first home? Are they out of their minds?”)

I am pleased to say that I can come up with a list of at least 10 homes in the Southeast of Calgary now that can be purchased for under $300,000. And these are nice homes! Some have garages, and all are two-storey with three bedrooms, some are in lake communities with full access. You can see a list of these homes on my website at http://www.deepsouthcalgary.com/Ten_Listings_Under_300K.pdf

In real estate, nothing is as much fun as getting a first-time buyer into a home — and if it feels that good for us, you know it feels great for the first-timer to get on the property ladder! 

Have a great May long weekend!  – Krista

Hi all!

I thought it was time to update you on what’s happening in the McKenzie real estate world. The sound of birds chirping and the fast-melting snow (almost gone!) have brought the buyers out, so it has been busy. Right now there are 59 listings in McKenzie Lake ranging from $269,900 to $1.65 million. McKenzie Towne has 136 listings ranging from a $179,900 condo to a $949,000 estate home.

McKenzie Towne and McKenzie Lake are great areas to take a drive around on a weekend and pop into the variety of Open Houses. I just completed a tour of seven homes in a morning — there are some great prices for large 3 and 4 bedroom homes with a lot of character. In this area, you usually get a nice-sized backyard and a garage, and some of the backyards are very nicely done. 

Houses and condos are actually selling quickly now, so don’t wait to put in an offer! In McKenzie Towne, 48 listings sold in the last month (March 16-April 15, 2009) and in McKenzie Lake, 19 have sold!

Soccer season is starting and the kids are filling up the fields fast. It’s great to see them all out on their bikes and skateboards too. I notice a lot more people out walking and jogging, especially around Inverness Pond. There is a great new playground at the corner of McKenzie Towne Dr. and Promenade Way, close to the new home construction. That area is really filling in fast with new houses and many are very affordable and good-looking duplexes. The showhomes are open every day and we Calgarians love to browse through showhomes! 

If you are curious about living in McKenzie Towne or McKenzie Lake, contact me. I have several families from Ontario moving here this spring and summer and I know how difficult it is to figure out where to live when you don’t know that much about a city. I’ll be glad to send you relocation information. It’s a good time to move to Calgary, so don’t hesitate to ask me!  — Krista (krista@deepsouthcalgary.com)

Now I think I’ll head out for a walk around the pond and enjoy this spring weather!

Paths leading to Inverness Pond.

Whew, it’s been a few weeks since I’ve blogged, but it’s been busy! Yes, you read that correctly. Despite the gloomy (and daily) economic “predictions”, people in Calgary are househunting and buying. This is good news, but sometimes can be sad when a house that you’ve been keeping an eye on sells (okay, it was a house that I liked for myself–I waited too long).

The Calgary Herald reported yesterday that “home-buying intentions in Alberta have rebounded and are back to 2007 levels.” An RBC survey found that 35 per cent of Albertans are likely to purchase a home within the next two years! 

The Calgary Real Estate Board’s recent stats show that the housing market did pick up in February, with sales up 50 per cent from January. On the other hand, February 2009 was down 34 per cent from February 2008 (the good old days) and the average sale price in February was down nearly 12 per cent from a year ago.

Renting in Calgary is still expensive, sometimes more expensive than getting a mortgage. Rentspot.com says the average rent for an apartment was $1,280 in December 2008, while the average house rented for $1,696. I just received an update from a mortgage broker I work with and the rates will allow someone with five per cent down on a $300,000 purchase to pay $1,296 per month, including CMHC costs. Of course, you have to add in property tax, utilities, insurance, etc., but it’s certainly a good time to consider jumping the rental ship!

If you are on the fence, don’t be afraid to contact a mortgage broker!  They want your business! They have seen it all, so don’t worry about being judged–mortgage brokers work with their clients to plan and to afford to own a home and are very happy to do that.

So if you’re renting, first step is to meet with a mortgage broker. Then when you know what you’re pre-approved for, call a Realtor. They know which neighbourhoods and homes will suit you, your family and your budget. I’m looking forward to hearing from you!

Bank of Canada Governor Mark Carney has come under fire for predicting a strong rebound in the economy by 2010. He actually predicts that we’ll see growth by the last quarter of 2009, of 3.5 per cent. Politicians and pundits have attacked him for being too optimistic, and he’s responded by saying he is being neither optimistic nor pessimistic, but realistic.

Closer to home, the new Calgary Real Estate Board President Bonnie Wegerich is predicting that consumer confidence will improve in the latter half of this year and single family home sales could grow as much as 10 per cent before the start of 2010.

Since newspaper headlines and suppertime newscasts are predicting doom and gloom for possibly “years to come”, how can there be so much difference in opinion of what’s going to happen a year from now?

A couple of weeks ago, I heard a very good explanation of this by a speaker named Leonard Brody. His lecture was entitled “730 Days From Now”, which is the length of time he believes one can reasonably predict what will happen.

Leonard Brody is co-founder and CEO of Vancouver’s NowPublic.com, a pioneer in citizen-generated news. (Check out the website which made the top 50 by Time Magazine.) He is also an entrepreneur, a popular lecturer and a best-selling author. He knows his stuff.

Anyway, Brody talked about “time” and the way that “cycles of time” are compressed now–cycles like those found in real estate (prices go up, prices go down) and the stock market. Brody has found that “crashes” in these markets occur much more frequently these days and rebounds do as well. Historically, stock market crashes occurred maybe every 60 years, then 30, and recently we have had only eight years or less between them.

That means that a “recession” that may have lasted for years will now have a much shorter span. Which may sound like really good news right now, but it does mean that another crash may occur shortly into the next recovery. It may mean that businesses and people should be prepared to ride this roller coaster more often.

For homebuyers who are trying to predict when the bottom of the market is going to hit, it indicates that will happen (or is happening) very soon. If you are looking for a home in Calgary, it is a very good time to buy. Open Houses are very busy this February and home sales are increasing, along with the number of calls and inquiries to Realtors. 

Call or email me if you’re curious about the real estate market in Calgary! — Krista

There are two homes in the Inverness area of McKenzie Towne for sale now that really stand out because both of their owners are professional designers. It’s a fortunate buyer who finds such a home as they benefit from the talents and hard work of the former owner for a fraction of the cost it would take for the buyer to do it themselves (or hire a professional designer to do it!).

Both of these homes border on Inverness Pond, are on corner lots and have stunning views and incredible interiors.

The first home is a 2191 sq ft two-storey that is so beautifully designed it would suit anyone’s taste. The interior is impeccable with crown moulding, custom built-in closets, granite countertops and stainless steel appliances, a gas fireplace, a breakfast nook with a windowseat, and an amazing living room, dining room and master suite. Its best feature is outside in the award-winning backyard complete with outdoor fireplace, hot tub, two stone patios and a greenhouse. This home is listed for $759,000 and is a home you could truly love.

The second home is a 2346 sq ft two-storey home whose owners specialize in creating theme rooms! Their own is a stunning Indiana Jones “Raiders of the Lost Ark”-themed room complete with Egyptian sarcophaguses, a golden “ark” and giant drop screen. (I wrote an article on the owners, which you can read at www.deepsouthcalgary.com) The upstairs has a custom French Country kitchen, stunning hardwood wide-plank floors, a gas fireplace, an office and a lovely “turret” room overlooking the pond. The master suite is huge with a two-sided fireplace and skylight. The home is listed for $759,000 and is a home that the whole family would adore!

Inverness is the first area to be built in McKenzie Towne. The other two “villages” are Prestwick and Elgin. It’s easy to figure out on a map because all the street names begin with the “village” they are in (e.g. Inverness Rise, Inverness Close, Inverness Park). Inverness is centered around the beautiful gazebo in Inverness Square and the “clock tower” beside it. The townhouses around the Square look like brownstones and the detached homes have front verandahs and detached garages on back lanes, creating a real neighbourhood feel.

I recently met a man at an Open House whose family had moved from Inverness to another community a year earlier—they were back in Inverness looking for another home as he revealed, “We just miss the neighbourhood so much. There is no place like Inverness.” So, contact me anytime and I’ll send you a package of the homes available in Inverness. In January 2009, there are 15 active listings in Inverness with condos starting at $259,900 and detached homes starting at $369,900.

Click here for a map from Carma Developers of McKenzie Towne, including the Inverness area.