Lynn Brunton- Real Estate Professionals Inc.

Just Listed in Evergreen

January sales signal strong start to 2021 City of Calgary, February 1, 2021 January sales were the highest they have been for the month since 2014, as housing market momentum from the end of 2020 carried over into the start of 2021....Continue reading

Media release: Modest gains in Calgary housing market expected in 2021 Calgary, Jan. 26, 2021 In 2020, housing markets across the country surprised many with a stronger-than-expected rebound in the second half of the year despite record-high unemployment rates and significant job losses. Calgary did not hit record-high sales or prices in the third or fourth quarters, but still posted some of the strongest sales relative to the past five years. This was nearly enough to of...fset the initial losses recorded during the first shutdown caused by the pandemic. It is expected some of the momentum recorded at the end of 2020 will continue into 2021, fueled by exceptionally low lending rates and pent-up demand, said Ann-Marie Lurie, CREB Chief Economist. While sales are expected to rise by nearly five per cent on an annual basis in 2021, persistent economic challenges are expected to prevent stronger growth in our housing market. Reduction in supply relative to sales is the primary reason the Calgary housing market returned to more balanced conditions by the end of 2020. The pullback in new listings relative to sales activity resulted in inventory levels falling to the lowest levels seen in the past several years. As we move into 2021, we anticipate new listings will start to rise, as COVID-19 likely caused many homeowners to delay listing their homes. We could start to see some supply come back in 2021, as concerns regarding the spread of the virus ease. Persistently high unemployment rates could also weigh on some existing homeowners who may need to sell their homes. Growth in supply is expected to offset some of the gains in sales, pushing our market to the upper bounds of balanced conditions and slowing price recovery. However, the price gains that occurred at the end of 2020 are not expected to be eroded and 2021 annual prices are forecasted to improve by over one per cent. This year has been filled with twists and turns all over the world. The Calgary housing market was no exception, said Alan Tennant, CREB President and CEO. However, our local REALTORS continued to serve at a high level by connecting homebuyers and sellers through this difficult period in a safe and timely manner. See more

MEASUREMENTS AND THE MLS SYSTEM. When visiting some clients recently it reminded me that it would be worth a review of how homes are measured for listing on the... MLS system in Alberta. The measurement standard is called RMS. The requirement is above grade space only. In the instance where the home is completely below grade like a basement apartment then the square footage is recorded with a note identifying that it is below grade space. Single family detached homes are measured by the exterior perimeter. Semi-detached, row and apartment homes are measured by the interior wall to wall space whether they are a condominium or not. See more

Property Styles. Further to the Type we have Styles of homes as well. Those you may easily recognize like bungalow, two storey, two storey split, bilevel, splits such as three, four and five level and then the storey and a half which is a little more rare. Each of these styles can also have a walkout basement.

If your looking to create a new look for 2021 here is what is in vogue.

Let's talk Property Type. Under the Residential Category there are a few Property Types, they all can be either Single Family or Condominium with the exception of the Apartment category which is almost always Condominium. Remember that Condominium is a form of ownership. Detached is a structure that stands on it's own, Semi-detached is attached to another dwelling on one side, row is a dwelling that is attached on more than one side and lastly apartment is in a building with multiple dwellings. Below is an example of each.

Happy New Year! Here comes 2021! Wishing you a healthy prosperous fun filled year ahead. As we enter the year we have more balanced conditions in the Real Estate Market than we have seen in the past five years. Interest rates are historically low with a five year rate available as low as 1.7%. 2020 finished off on a positive note with an unexpectedly stronger second half and the highest number of sales in December since 2007. Calgary Real Estate Boards Media Release came out today if you would like a copy let me know and I can email it to you.

I have a few extra Tent and Book style calendars this year so if you would like any please let me know and I can arrange to get them to you. With a little luck we may be able to fill our calendars more in 2021!

MORE ON MORTGAGES. OPEN versus CLOSED mortgage which is better for you? Closed mortgages tend to have lower rates however come with payout penalties where an open mortgage will give you more flexibility to pay off the mortgage at anytime. Then there is variable versus fixed mortgage rate. Variable rates can change over time alongside changes in your lenders prime rate where a fixed rate stays the same for the duration of the term.