Jeffrey Cox - Hillhurst - Dec 2017

REAL ESTATE (CENTRAL)

JEFFREY COX R E A L E S T A T E

ATTENTION POSTMASTER: Time Sensitive Materials

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JEFFREY COX REALTOR®

m: 587.581.6900 o: 403.216.1600

HILLHURST

December 2017 Real Estate Market Report

JeffreyCox@remax.net www.JeffreyCoxRealEstate.ca

Visit www.HillhurstHomes.com for community info and recent sales.

y p p a H s y a d i l o H

Jonathan and Angela-Marie, From my home to yours, wishing you Holidays overflowing with laughter and happiness and a bright New Year! I look forward to another year as your trusted local resource for any of your real estate needs!

- Jeffrey Cox

PREPA RED ES P EC I A L LY FO R

JEFFREY COX R E A L E S T A T E

Jonathan and Angela-Marie Williams Presented by Jeffrey Cox YOU R H ILLHURS T REA L ES TATE S PEC I A L I S T

No One in the World Sells More Real Estate than RE/MAX!

JEFFREY COX R E A L E S T A T E

REAL ESTATE (CENTRAL)

HILLHURST MARKET REPORT

JEFFREY COX REALTOR®

m: 587.581.6900 o: 403.216.1600

Homes Currently Listed in Hillhurst

JeffreyCox@remax.net www.JeffreyCoxRealEstate.ca Connect with me on

Visit www.HillhurstHomes.com for community info and recent sales.

The Real Effect of the New Mortgage Stress Test On January 1st, 2018, the revised Guideline B-20 – Residential Mortgage Underwriting Practices and Procedures will go into effect. These new guidelines created by the Office of the Superintendent of Financial Institutions, or OSFI, strengthen the federal regulations for residential mortgage underwriting.

What does this mean?

Everyone will be subject to a ‘stress test’ if they wish to have an uninsured residential mortgage loan.

Who typically has an uninsured mortgage loan?

Anyone who is putting down more than 20% on the purchase value of their home will generally get an uninsured loan. Anyone who puts down less than 20% is required by law to purchase insurance from Canada Mortgage and Housing Corporation (CMHC) in order to secure a mortgage from a lender.

What is the goal of this new Rule?

It’s to ensure borrowers can afford their loans even if interest rates are two percentage points higher than the contractual mortgage rate being offered.

What is the Impact on Buyers?

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This could reduce the amount of an uninsured mortgage loan that a borrower could qualify to receive.

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Mortgage rates are varied, offering different types (i.e. variable and fixed), timelines (1 - 5 years), and rates (currently 2.05% - 7.10%).

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The probable result will be a shift in the type of mortgage chosen by home buyers to qualify for their desired loan amount.

What is the Impact on Sellers?

Status Active Active Active Active Active Active Active Active Active

Style Bungalow Bungalow 2 Storey 1.5 Storey 2 Storey 3 Storey 2 Storey 3 Storey 2 Storey

Beds 2 3 1 3 4 5 4 5 4

Baths 2.0 2.0 2.1 2.0 3.1 3.0 3.1 3.1 4.1

Estimated Square Feet 793 962 1,355 1,355 2,042 1,938 2,569 2,683 2,767

Lot Size (Square Metres) 475 551 349 352 314 418 387 352 377

Year Built 1949 1948 1980 1911 2008 1912 2001 2002 2012

List Price $594,900 $659,900 $699,999 $824,900 $869,900 $1,050,000 $1,199,000 $1,199,900 $1,439,000

List Date 11/22/17 09/19/17 11/09/17 09/10/17 09/10/17 11/27/17 11/21/17 09/29/17 11/27/17

Homes Recently Sold in Hillhurst Status

Style

Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold Sold

2 Storey 2.5 Storey Bungalow 3 Storey 1.5 Storey 2 Storey 2 Storey 2 Storey 2 Storey 2 Storey 1.5 Storey

Beds

Baths

Estimated Square Feet

Lot Size (Square Metres)

Year Built

Sold Price

Sold Date

6 4 3 4 3 4 4 3 2 4 3

4.1 3.1 2.2 3.1 1.0 3.1 3.1 2.1 2.1 4.1 2.0

3,196 2,663 1,998 2,965 1,461 2,176 1,568 1,440 1,451 2,235 1,054

472 349 625 349 349 349 312 375 291 313 331

2009 2009 1950 2016 1911 2005 1985 1911 1912 2013 1914

$1,825,000 $1,630,000 $775,000 $1,760,000 $635,000 $1,330,000 $714,000 $615,000 $688,000 $1,220,000 $639,999

11/20/17 11/17/17 11/13/17 11/10/17 11/09/17 11/02/17 10/30/17 10/18/17 09/09/17 09/01/17 08/14/17

Jeffrey Cox and RE/MAX Real Estate (Central) are not in any way affiliated with Hillhurst Owners Association, nor is this in any way an official advertisement or publication of Hillhurst. ©2017 All rights reserved. This representation is based on sales and data reported by multiple brokers/agents to the Calgary Real Estate Board (CREB) MLS as of December 5th, 2017. Listings and sales may not be those of RE/MAX Real Estate (Central). The Canadian Real Estate Association (CREA) and CREB MLS do not guarantee the accuracy of this data, which may not reflect all of the real estate activity in the area. E&OE. This market report is not intended to solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship.

Published by REAL Marketing (REM) | www.REALMarketing4You.com | 604.880.5816 | ©2017

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In general, there is still a greater demand than supply for real estate in Canada.

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Sellers should realize the importance of pricing their home to stay in-line with market forces.

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The effect on overall prices for the average home may not be anything more than a slow down in the rate of appreciation.

YOU’VE FOUND ALL THE RIGHT GIFTS...

NOW IT’S TIME TO FIND OUT THE RIGHT VALUE OF YOUR HOME! Jonathan and Angela-Marie, If you’ve considered selling your home during the holiday season, don’t wait to find out its true value, visit my website below! Also learn how my Hillhurst real estate knowledge,

Jonathan and Angela-Marie, Call me today at 587.581.6900 to learn more about these changes and how I can help you still achieve exceptional results if you’ve considered selling your home.

Information Sourced From: OSFI: http://www.osfi-bsif.gc.ca/Eng/osfi-bsif/med/Pages/B20_dft_nr.aspx and CMHC: https://www.cmhc-schl.gc.ca/en/hoficlincl/moloin/rean/rean_061.cfm

professional marketing strategies, and proven negotiation skills could help you earn a valuable gift this season – getting the greatest return on your investment!

www.HillhurstHomes.com