HOLDING STEADY
PRACTICE WHAT YOU PREACH
Home renovation spending to plateau in 2011, despite $400 million in government incentives
Installation of solar panels a natural choice for eco-conscious Calgary man
RENOVATION A13
Essington
Together, your dreams realized
(403) 239-8250
GREEN LIVING B20
Sharon@SharonEssington.com VERICO CANADA MORTGAGE DIRECT Sign up for monthly mortgage tips at WWW.SHARONESSINGTON.COM
SEE MORTGAGE ON PAGE A10
FREE jun 24 to jun 30 2011 issue 01-23 www.creb.com
Despite relying heavily on research, Alberta consumers more quick to buy than national average CODY STUART
managing editor
A
lbertans are the most willing in the country to view multiple open houses before they purchase their first home. In fact, one-third say that they will view more than 10 houses in their search (32% versus 26% nationally). This is according to the TD Canada Trust First Time Homebuyers Report, which for the second year in a row found that the overwhelming majority of first time buyers in Alberta (97%) expect to buy their home for at - or below - the listing price. Despite viewing so many homes and being set on finding a home to purchase at or below the list price, Albertans are most likely to say they’ll spend six months or less shopping for their new home (76% versus 64% nationally). “Our report found that Albertans explore their options and stick within their price range when looking at homes,” said Jessy Bilodeau, mobile mortgage specialist for TD Canada Trust. “This is important - especially for those buying a home on their own. If you buy without a co-purchaser, should your financial situation change, you are the only person legally responsible for the mortgage. Ensure your mortgage allows room in your budget to set some money aside for the future.” While people buying independently don’t have to compromise with anyone about the features, location and type of home they’re looking for, first time buyers realize they may have to make concessions because the perfect home may not exist - or at least not be in their price range. Unsurprisingly, the survey found Albertans name price as the factor they are least willing to compromise on, with 60 per cent of respondents stating they were reluctant to budge when it came to the amount they were spending.
MARKET A3
SINGLE FAMILY
$462,947
$461,786
$441,341
$454,163
$455,460
$444,744
$445,617
$460,278
$464,655
$479,575
$481,964
$483,240 $460,378
$471,269 $458,254 $441,217
$451,349
$464,444
$462,465
$459,085
$454,130 $436,782
$447,142
MAY09 JUN09 JUL09 AUG09 SEP09 OCT09 NOV09 DEC09 JAN10 FEB10 MAR10 APR10 MAY10 JUN10 JUL10 AUG10 SEP10 OCT10 NOV10 DEC10 JAN11 FEB11 MAR11 APR11 MAY11
$436,427
MLS® AVERAGE PRICE* MAY ‘09 – MAY ‘11
$489,482
Albertans are the most willing in the country to view multiple open houses before they purchase their first home.
*All statistics based on monthly data compiled by CREB® via MLS® activity.
Outstanding Home in Crescent Heights $499,900
MLS®C3476639
333 9 Ave NE
• 3 bedrooms, 2.5 bathrooms • 1292 sq. ft.
BALANCED HOUSING ACTIVITY FOR MAY: CREA CREB® STAFF
CONTENTS NEWS BRIEFS
A3
POP THE QUESTION
A6
Susan Fordyce
C
anada-wide resale housing activity remained balanced in May 2011, said a recently released report from The Canadian Real Estate Association (CREA). However, the findings last month represent the first year-over-year gain in over a year, mainly due to the lack of demand in May of last year. In 2010, movement in the housing market lagged a bit between the months of April and July. The report predicts this lull to affect the year-overyear comparisons in the months ahead.
SALES A3
EVENT LISTING
A6
MORTGAGE RATES
A10
BUSINESS DIRECTORY A10 COMMERCIAL
A11
Alberta leads way in retail sales
MAP
B1
OPEN HOUSES
B19
Mount Royal Character Home Character and prestige abound in this craftsman themed 1918 home, situated in Mount Royal atop the exceptional tree-lined Premier Way on a 50 x 183 foot RC-1 lot. You are greeted in the entrance by herringbone oak hardwood flooring that runs into a cozy family room and through the formal LR w/wood-burning fireplace. Separate dining area is ideal for entertaining and offers lots of natural light. The warm kitchen features a beautiful brushed stainless steel gas range, tile backsplash and laminate flooring. The restored elegance of this character home continues upstairs to 3 bedrooms including the master retreat with FP and one and a half baths. Traditional mother-in-law suite down, large storage room and two 95% high efficiency furnaces complete the lower level. Tandem detached gar, private secluded backyard and large south facing front porch complement this homes historical charm. MLS®C3477024 1420 Premier Way SW $999,000
www.sanostante.com
RE / MA X RE AL ESTATE ( CENTR AL )
403.289.3435