DEC 11 , 2015 - JAN 8, 2016 VOLUME 18, ISSUE 13, FREE
CALGARY EDITION
INSIDE THIS ISSUE
CONDO VS APARTMENT: WHAT IS THE DIFFERENCE?
NEIGHBOURHOOD PROFILE ON EAST VILLAGE
WHAT’S HOT & TRENDING IN CANADIAN REAL ESTATE?
Live the lake life at Auburn Walk.
2 BDRM CONDOS
194900
$
BASED ON 5-YEAR RATE OF 2.69%
Future Auburn Station shopping centre (currently under construction) Auburn Lake South Health Campus Citywide transit and more!
52 ST
922
$
2
SALES CENTRE & SHOW SUITE: 105 AUBURN MEADOWS DR SE REILLY LEPAGE: 403.371.6014 MON – THUR: 2 PM – 8 PM WEEKENDS & HOLIDAYS: NOON – 5 PM CLOSED FRIDAYS
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N BAY DR BUR AU AUBURN MEADOWS DR
AY AV E
B
AS LOW AS
STONEY TRAIL
AU B U R N
MONTHLY PAYMENTS
VISIT OUR SALES CENTRE & SHOW SUITE
AUBURN WALK AUBURN BAY LAKE AUBURN BAY BLVD
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STARTING FROM
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contents DEC. 11, 2015 - JAN. 8, 2016 | VOLUME 18 ISSUE 13
11 ON THE COVER
Remington Development
Last chance to toast the good life in Champagne trending
+ online NEIGHBOURHOOD
HOME SEARCH
MORE +PHOTOS +VIDEOS +ADVICE +INSPIRATION +TRENDING
MAPS
Celebrating groundbreaking at Sandgate
22 Housing outlook
Economy and housing market to improve in 2016
WITH
DYNAMIC
20 Hopewell Residential
LOOK FOR THE CIRCLE
34 CMHC
Some uncertainty on the horizon in national outlook
42 Homebuying
6 financial homebuying tips
advice
18
Calgaryism
Tips to help you child-proof your new condo By Cody Battershill
28 Contemplating Condominiums
’Condo’ does not mean ‘apartment’! By Linda Palfi
PRESIDENT, YELLOW PAGES NEXTHOME
Jacqueline Hill EDITOR-IN-CHIEF / DIRECTOR OF CONTENT
Susan Legge DIRECTOR OF SALES
Moe Lalani SALES MANAGER, ALBERTA
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Wayne Karl Lydia McNutt (on leave) ART DIRECTOR
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Natalie Houghton 587.226.1313 Like us on Facebook: search: CalgaryNewCondoGuide PRODUCTION MANAGER
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Greg Van Sluytman GRAPHIC DESIGNER
Miguel Cea
2891 Sunridge Way N.E. Calgary, AB T1Y 7K7 ypnexthome.ca
46 46 Money Matters
Budgeting for holiday shopping By Gail Vaz-Oxlade
inspiration
38
Designer Gift List
Some top gift ideas for the holidays and beyond By Jo Alcorn
40 Neighbourhood profile East Village: Condo living with a downtown buzz
49 Advertiser Index district maps
15
Southeast Map
25 Northwest Map
what’s online
30 Southwest Map
48 Trending now
33
Satellite Communities
37
Inner City
More stories, videos and photos
45 Northeast Map in every issue
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Editors’ Note
ADVERTISING RATES
T 587.226.1313 email natalie.houghton@ypnexthome.ca CIRCULATION Copyright covers the contents of this publication and prevents reproduction in whole or in part; offenders will be prosecuted. We reserve the right to refuse any advertising, to make changes or edit advertising as necessary. Care will be taken to ensure copy accuracy but no warranty is implied or given by the publisher. The publication, the publisher and the printers shall not be responsible for any typographical errors, mistakes, misprints, spot colouring or any information or lack of information furnished by the advertisers. COPYRIGHT 2015 Copyright covers the contents of this publication and prevents reproduction in whole or in part; offenders will be prosecuted. We reserve the right to refuse any advertising, to make changes or edit advertising as necessary. Care will be taken to ensure copy accuracy but no warranty is implied or given by the publisher. The publication, the publisher and the printers shall not be responsible for any typographical errors, mistakes, misprints, spot colouring or any information or lack of information furnished by the advertisers. Yellow Pages NextHome is a trademark of Yellow Pages Group Co. in Canada. Editorial Submissions from interested parties will be considered. Please submit to Susan.Legge@ypnexthome.ca The views and data expressed by columnists do not necessarily represent those of the publication
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Editors' Notes
SUSAN LEGGE Editor-in-Chief / Director of Content Yellow Pages NextHome Email: Susan.Legge@ypnexthome.ca Twitter: @SusanLegge
EAST VILLAGE
MORE PHOTOS ONLINE ypnexthome.ca/east-village
Helping you manage life changes The decision to move is often triggered by a life event, such as a new job, a new addition to the family, or simply because you want a change of scenery. Whatever the reason, it’s important to address what your needs are before you start hunting for a new place, rather than during your search. With all the information available to you these days, it’s easy to get distracted. To keep you on track and up to date on the latest listings available
across Canada, check out this issue and our new website, ypnexthome.ca. Not only will you find an easy way to connect with prospective properties, you’ll be able to dig deep on details such as such as costs, neighbourhood information and much more. Deciding to move is easy – it’s finding the right place that can often be challenging. Let us help. Drop us a line and let us know if you have any questions or comments. We’d love to hear from you.
How mobile and tech-savvy are you?
WAYNE KARL Senior Editor
Yellow Pages NextHome Email: Wayne.Karl@ypnexthome.ca Twitter: @WayneKarl
+ get social 10 YPNEXTHOME.CA
There’s an old joke in some home building circles that people spend more time researching a new wireless device than they do a new home. All laughter aside, this scenario is changing. Prices continue to rise, and even though interest rates currently make homebuying a comfortable transaction, more and more buyers understand the value of thorough, patient research.
It still involves publications such as New Condo Guide, because builders can present their new condo developments in a way that shines in print, and in a medium people can digest over time and at their leisure. For many homebuyers, the process increasingly begins online – when researching the financial end of the equation – notably mortgages. How tech-savvy are you?
Interact with us on social media: ypnexthome
Property Profile | CHAMPAGNE
cover story
Buyers’ last chance to toast the good life
in Champagne By Heather Ryan DISCERNABLE CONDO BUYERS who desire luxury just steps from the natural splendor of the river and a wide range of amenities are getting down to their last chance to toast the good life in Champagne. Crafted by Remington Development Corporation, this award-winning, luxurious multifamily development consists of five phases – the first four buildings are occupied and homeowners are taking possession of suites in the fifth and final building in JanuaryFebruary 2016.
“Although this is our last phase and the development is 85 per cent sold, there are still suites available in all categories including suites with amazing river views,” says residential sales associate Angie Herback. “We have one- and two-bedrooms, two-bedrooms plus den, and even penthouses.” “There are some suites available for immediate occupancy, and some with quick possessions in the January-February time frame,” Herback adds. “But, we can also accommodate those who want a
slightly later possession.” Remington Development Corporation has a solid reputation for building the highest standards of design, construction and quality workmanship so it’s not surprising that Champagne with its penthouselevel specs and premier location has been a tremendous success. Champagne is as memorable as its name showcasing a design reminiscent of the French countryside with natural stone and steep pitched rooflines that blend in perfectly with Quarry Park’s DEC 11, 2015 - JAN 8, 2016 | NEW CONDO GUIDE 11
European architectural styling. “Champagne is one of a kind, that’s why it’s been so popular,” Herback says. “Champagne offers homeowners luxury living, and the French Heritage architecture on the exterior runs right through the gorgeous lobby and into the suites.” Well-appointed interiors are the standard and consist of upscale features such as engineered hardwood floors, granite countertops, nine-ft. tray ceilings, luxurious oversized bathrooms, gourmet kitchens and air conditioning. As well, there are expansive windows to take advantage of the impressive views of the Bow River and of the impeccable common area landscaping including a garden courtyard, which provides direct access to the river pathway and 90 acres of environmental reserve. Buyers also enjoy quality construction with insulated pre-cast 12 YPNEXTHOME.CA
“Champagne offers homeowners luxury living, and the French Heritage architecture on the exterior runs right through the gorgeous lobby and into the suites.” to 1,010 sq. ft., two-bedrooms from 1,315 to 1,680 sq. ft. and penthouses upwards of 2,280 sq. ft. Champagne residents can easily walk to The Market at Quarry Park, which offers a variety of shops, services, restaurants and a Coop grocery and liquor store. The stellar location is serviced by a Bus Rapid Transit line that connects to downtown, as well as other bus routes connecting to both Anderson and Chinook LRT stations; it has easy access to Glenmore and Deerfoot Trails; and it’s only 15 minutes from downtown. As an added benefit, Quarry Park will be home to a new Remington YMCA opening in fall 2016. Prices for the remaining suites start from $339,000 for a one-bedroom, $530,000 for two-bedrooms and penthouses starting from $699,000. Along with Champagne, Remington is also selling The Gates, a gorgeous boutique-style, threestorey condo development featuring just 32 homes, and “we will have more townhome and apartmentstyle condo projects in the coming year, so stay tuned,” Herback says.
concrete. “It’s the best way to build because it offers incredible soundproofing and premium air quality,” Herback adds. Every unit comes with secure underground parking and a storage locker, all larger than
the industry standard. And as a great perk, there is a car-wash bay in the parkade. Adding to the appeal is Champagne’s generous floorplans that include one-bedrooms from 790
For more information on Champagne and The Gates, visit the award-winning presentation gallery, 350 Quarry Park Blvd. S.E., open Monday to Thursday, noon to 8 p.m., weekends and holidays, noon to 5 p.m., call 403.930.6900 or visit remingtoncorp.com/residential where you can also register for updates on current and upcoming projects. DEC 11, 2015 - JAN 8, 2016 | NEW CONDO GUIDE 13
CENTRE STREET
F RI
AIRPORT
MCKNIGHT BLVD.
68 STREET
LA UR TRA IE BL VD IL .
14 STREET
WC HIL D
32 Ave
16 AVENUE
16 AVENUE
12 AVENUE
SOUTHEAST COMMUNITIES RIVE RIAL D
MEMO
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36 STREET
MEMO
52 STREET
ELBOW DRI VE
DEERF
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Mac AIL
07 03
20
05 WALDEN 01 04 24 23
06
279 Copperpond Common S.E.
03 MUSKOKA BY BROOKFIELD RESIDENTIAL 04 LEGACY GATE BY CARLISLE GROUP 210 Ave. SE www.legacygate.ca
05 LEGACY STREET TOWNS BY HOMES BY AVI
COPPERFIELD
TRAIL
MAHOGANY
22
10
AUBURN BAY
16 13
15 LEGACY
65 Auburn Meadows Way
12
W ST. 52
D TR
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McKE
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CRANSTON
02 COPPERFIELD PARK BY BRAD REMINGTON HOMES
16 SANDGATE
6 Mahogany Terrace SE
17 E
Corner of Cranford Dr and Cranston Gate SE Register: www.cardellifestyles.com/ cranston-ridge
52 Legacy Gate SE
02 11
16
N F LOR UIS O
01 CRANSTON RIDGE BY CARDEL LIFESTYLES
15 LIVINGSTONE TOWNES BY TRICO COMMUNITIES
NEW BRIGHTON
TTO BO
K PA RK
290 Cranford Drive SE
14 BOULEVARD TOWNES BY BIRCHWOOD 116 Quarry Park Way SE
114 AVE SE
OOT T RAIL
W BO
08 CR21 EE
84 STREET
14
CHAPARRAL
42 Legacy Blvd SE
13 HARVEST MOSAIC CRANSTON BY BROOKFIELD RESIDENTIAL
52 STREET
18
09
BARLOW TRAIL
19
ANDERSON ROAD
SHAWNESSY BLVD.
646 Copperwood Blvd SE
12 EBONY CONDOS & TOWNHOMES IN MAHOGANY BY JAYMAN MODUS
GLENMORE TRAIL
SOUTHLAND DRIVE
FISH
11 CHALET NO. 6 BY HOPEWELL
291 Mahogany Way
MacLEOD TRAIL
GLENMORE RESERVOIR
17 Ave
BLACKFOOT TRAIL
17 Ave
N
SETO
D. BLV
17 MOSAIC MIRAGE BY BROOKFIELD RESIDENTIAL 347 MacKenzie Towne Gate
18 THE GATES BY REMINGTON DEVELOPMENT CORPORATION Presentation Centre: 350 Quarry Park Blvd SE
19 CHAMPAGNE BY REMINGTON DEVELOPMENTCORPORATION
25
06 CRANSTON BY AVALON MASTER BUILDER 442 Cranford Park SE
07 AUBURN WALK BY CARDEL LIFESTYLES
Showsuite and Sales Centre Corner of 52nd Street and Auburn Meadows Dr. SE
08 THE MORELLO
Quarry Park Blvd SE remingtoncorp.com
20 ORIGINS AT CRANSTON BY STREETSIDE DEVELOPMENTS 111, 100 Cranfield Common SE NOW SELLING
21 ALTURE MIDCITY BY ALTURE PROPERTIES 15233 1 Street Southeast midcitymidnapore.ca
22 MAHOGANY STREET TOWNS BY HOMES BY AVI
15207 1st SE themorello.ca
13 Marine Dr SE
09 BRISTOL TOWNHOMES BY BIRCHWOOD NOW SELLING
23 LEGACY PARK BY BRAD REMINGTON HOMES
10 CANOE BY AVI URBAN
24 JACKSON BY AVI URBAN
232 Quarry Park Blvd. SE
103 Auburn Meadows Dr.
Register at: mylegacypark.ca
Coming soon to Walden
25 RIVERSTONE MOSAIC BY BROOKFIELD RESIDENTIAL 98 Cranbrook Dr. SE
$100’s
CONDOS FROM THE MID
www.copperfieldpark.com 403.723.0094 DEC 11, 2015 - JAN 8, 2016 | NEW CONDO GUIDE 15
January 15-17 January 15-17 January 15-17 January 15-17
CONDOMINIUM CONDOMINIUM LIVING101: 101: CONDOMINIUMLIVING LIVING 101: CONDOMINIUM LIVING 101: What EVERY buyer and owner needs to know
What owner needs needsto toknow know WhatEVERY EVERY buyer buyer and and owner What EVERY buyer andKiedrowski owner needs toLaw know Heather Bonnycastle, Q.C. and Laurie of McLeod LLP Heather Bonnycastle, Q.C. and Laurie Kiedrowski of of McLeod Law LLP Heather Bonnycastle, Q.C. and Laurie Kiedrowski McLeod Law LLP
Heather Bonnycastle, Q.C. and Laurie Kiedrowski of McLeod Law LLP will take you through ins and outs of condo ownership. will take you through the insLaurie and outs ofof condo ownership. will take you through the ins and outs of condo ownership. Heather Bonnycastle, Q.C.the and Kiedrowski of McLeod Law LLP will take you through the ins and outs condo ownership. Get all your condo questions answered Homexpo. Get allall your condo questions answered atcondo Homexpo. Get your condo questions answered at Homexpo. will take you through the ins and outs ofat ownership. Get all your condo questions answered at Homexpo.
Get all your condo questions answered at Homexpo.
www.homexpo.ca www.homexpo.ca www.homexpo.ca www.homexpo.ca
find your homE todAy At
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Advice | CALGARYISM
Child-proofing your condo By Cody Battershill
If you have young children or are expecting some to be visiting sometime soon, it is always a good idea to ensure an accident-free environment by child-proofing your condo. Here are four basic child-proofing tips that will make your condo as safe as can be for the little ones! Child-proofing gadgets Heavy objects
There are some very useful applications of technology that
Some of the most hazardous objects for kids around the
help with child-proofing your home.
home are heavy and high up, such as HDTVs, speakers and
A few include:
decor to name a few. These objects are prone to falling down and on top of young children if bumped or climbed
› Cabinet safety locks This plastic, U-shaped lock hooks
upon, therefore it’s best to have any heavy objects out of
around cabinet handles with an easy-to-release pinch
reach, and ensure those that are free-standing are well
mechanism.
secured. › Tip-resistant furniture brackets Electrical outlet covers
These help stabilize furniture that may be unbalanced, and
The curiosity of young children can lead them to putting
are great for small tables and other pieces you may have
their fingers where they don’t belong. While it does take
that a young child could tip over.
a serious prod before the electrical current is transferred from a plug-in, children’s hands can be wet for various
› Safety gates These should be hardware-installed only for
reasons and be more prone to getting a nasty shock as
maximum safety at the top of stairs or other no-go zones
a result. Electrical socket covers are cheap and easy to
in the house. These come in a variety of styles ranging
install, and will give you added peace of mind when the
from hinged and swinging to manual placement.
kids are at play.
Toys R Us, Canadian Tire and Walmart are three department stores with child-proofing sections. Check
Fall-down areas
them out!
Kiddy-gates are very useful in keeping young children
It’s never a bad idea to child-proof your new condo. These
away from areas that they shouldn’t be – with or without
simple steps could prevent a terrible tragedy and make
supervision. That could include the top of a stairwell, a
your home a safe place for not only your own children,
steep step-down from a door, or perhaps a utility room
but those of your friends and family who are visiting as
packed with cleaning substances and other tools that
well.
could be potentially harmful. Other areas to watch out for are windows located near furniture that children could use to climb-up on – and possibly out. Make sure if the window is open that there is a well-secured screen, just in case!
Join Us Looking for more fun facts, local activities and events, best restaurants and more to do with Calgary? If so, we invite you to join us at Calgaryism on Twitter, Instagram and Facebook today. We hope to see you there!
Cody Battershill is the founder of Calgaryism and a top producing realtor at ReMax House of Real Estate. Born and raised in Calgary, Cody has a passion for helping his clients accomplish their real estate goals and loves to show off the best Calgary has to offer! He can be reached at 403.370.4180, @Calgaryism on Twitter and calgaryism.ca
18 YPNEXTHOME.CA
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Trending
Hopewell Residential’s Sandgate Development celebrates ground-breaking in Mahogany, Canada’s Community of the Year
LEFT TO RIGHT
Ryan O’Hara (NORR Project Manager); Jeff Rust (Hopewell Residential - VP Multi-Family); Marion Murray (Hopewell Residential Senior VP Sales & Marketing); Paul Taylor (Hopewell Residential - President & COO); Brenda Kelly (Hopewell Residential - Manager, Sales & Marketing Multi-Family); Ken Lee (Hopewell Residential - Executive Director MultiFamily & New Markets); Don Dessario (NORR - Principal)
HOPEWELL RESIDENTIAL’S newest condo development,
Sandgate, is officially under construction, having celebrated its ground-breaking on Nov. 20. The 306-unit condo development in south Calgary’s Mahogany has already proven to be a popular choice with new home purchasers, due to its excellent location, unparalleled design style, upscale shared spaces, appealing amenities, and prices from the low $200,000s. “Sandgate demonstrates our commitment to bringing innovation, creativity and affordability together in an unmatched offering, all in Canada’s best new community,” says Jeff Rust, vice-president, multi-family, with Hopewell Residential. “This development is a new milestone in the journey of Hopewell Residential, and within the community of Mahogany.” Expertly designed around its homeowners’ lifestyles, Sandgate offers homes with plenty of personalized options, including a choice of floorplan and finishing options. In addition, the building’s outdoor space and common areas have been carefully planned with both functionality and style in mind. “Sandgate perfectly blends smart design with style and value,” says Brenda Kelly, sales and marketing manager, multi-family, with Hopewell Residential. “We offer a wide range of floorplan options, which means homeowners can personalize their interiors to 20 YPNEXTHOME.CA
MORE TRENDING ONLINE ypnexthome.ca/news
create a home perfectly suited to them. In addition, we have so many stylish finishing items to select from that you can truly make your home your own.” Amenities include guest suites, a fitness centre, lending libraries, a Great Lawn, and a residents’ barbecue patio. Nearby, homeowners will find Mahogany’s Urban Village, which has recently announced retailers including Sobeys, Nando’s, Tim Hortons, Kinjo Sushi & Grill and more. “Sandgate offers so much more than meets the eye,” Kelly says. “Both inside and outside, in terms of design, location and long-term value, Sandgate has been designed to meet the needs of its homeowners in a way that’s convenient, stylish, and inviting.” Since being released in August, 2015, Sandgate has quickly met its pre-sale goals, with its first building at more than 50 per cent sold out. Building two is set to be released in early 2016. Building one is slated for completion by early 2017. For more information, contact Nicole McLaws, marketing manager, housing, at nmclaws@hopewell.com or 403.298.8128.
Trending
Alberta and Calgary economies and housing markets to improve in 2016 AFTER A CHALLENGING 2015, the Alberta and Calgary economies – and housing markets – can look forward to better times next year and 2017. “Lower oil prices have had an impact on Alberta’s economy this year affecting capital investment, energy exports and consumer spending, and in turn, the province’s housing starts,” says Lai Sing Louie, CMHC’s regional economist for the Prairie and Territories Region. “New construction declined by about 20 per cent in 2015. However, oil prices are forecasted to rise next year and in 2017 as US crude oil production declines. This will help Alberta’s economy return to growth in 2016 and 2017.” In Calgary, total housing starts in 2015 are expected to decline by 30 per cent to 11,900 units after reaching a record high in 2014. The impact of lower oil prices on Calgary’s labour market has weakened employment growth, slowed net migration, and increased uncertainty among prospective homebuyers. “Housing starts in 2016 are forecast to decline an additional 16 per cent from 2015, but increase slightly in 2017,” says Richard Cho, principal market analyst for Calgary. “Calgary’s labour market conditions, income growth and net migration are not expected to improve in the next two years. Inventories in the new home market
will rise moderately while the resale market will be well supplied. Collectively, this will limit the pace of new construction and keep housing starts from posting a strong rebound.” “Strength in the multi-family sector will push total housing starts to 16,400 units in 2015 in Edmonton,” says Christina Butchart, CMHC’s principal market analyst for Edmonton. “However, this strength will dissipate in the closing months of 2015, and throughout 2016 as slower economic growth and reduced net migration lead to softer housing demand.”
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VISIT OUR SALES CENTRE AT 52 LEGACY GATE SE • 403.460.7930 • www.livingstonetownes.com 22 YPNEXTHOME.CA LIV-14334 Condo Guide HP Dec11 v6.indd 1
DATE:
F I L E
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South Calgary’S MoSt DeSirable loCation MARQUIS OF LORNE TRAIL SE (22X)
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Inquire about immediate occupancies at CarlisleGroup.ca 403.571.8426
144 AVE NW
EVANST O AY N W NW S
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ON
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NORTHWEST COMMUNITIES
AIL E
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IL
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15 THE GROVES OF VARSITY BY STATESMAN HOMES
5353 Crowchild Trail NW 16 AVENUE
18 SONOMA AT SAGE HILL BY VERTICAL PROPERTIES
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ME M O R I AL
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21 LIDO BY BATTISTELLA
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Sales Centre 1120 Kensington Rd
04 WILLOW AT SHERWOOD BY AVI URBAN Visit Sales Centre at 64 Nolan Hill Gate
22 AVIRA TOWNHOMES IN EVANSRIDGE BY JAYMAN MODUS
05 ARRIVE AT EVANSTON BY PARTNERS DEVELOPMENT GROUP Symons Valley Parkway please call 587-755-1166
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12 EMERALD SKY BY CARLISLE GROUP
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01 PANORAMA WEST BY CARDEL LIFESTYLES
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11 EZRA ON RILEY PARK BY BIRCHWOOD PROPERTIES
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02
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10 SAGE PLACE BY CARDEL LIFESTYLES
IL N
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EDMONTON TRAIL
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ENU
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15
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COUNTRY HILLS BLVD.
14TH ST NW
10 18 03 SY MO NS VA 08 06 07 LLEY RD 12 . 04
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09
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144 AVE NW.
07 THE TIMBERS BY GABLECRAFT HOMES
SOUTHLAND DRIVE ANDERSON ROAD
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DEC 11, 2015 - JAN 8, 2016 | NEW CONDO GUIDE 25
The Upside of Down Real Estate Markets
“You can’t know where you are going until you know where
repeats itself because of the market’s ability to control
you have been,” is an old proverb often muttered after
new housing construction, which in turn is dictated by the
bad days and roared after good. But while it is common
direction of market prices.
to think that good times will never end, or bad days will never go away, neither situation has ever been the case.
In any case, the best time to purchase is when declines in prices are followed by sustained gains. This last occurred
At Intelligence House, we recognized this as it relates to
between 2009 and 2010 and is likely occurring right now,
Alberta’s real estate market and those times when it is
providing CMHC’s outlook for price growth in 2016 and
poised and bound to change. For us, change represents
2017 are correct.
opportunity. For instance, you may be familiar with another proverb suggesting to “buy low and sell high.” It is
Intelligence House believes this is true, as CMHC’s
a tempting proposition.
outlooks were based on recent and sustained reductions in new construction and a shared opinion that 2016 will
For the average Albertan homeowner, who typically owns
be shaped by greater levels of population, employment
a property a minimum of 5 years, it is difficult to find a
and income growth; all of which will be aided by an outlook
recent time where their investment would have produced
for higher annual energy prices.
a loss. However, provincial prices have contracted in 2015, which might be causing today’s purchasers to
With all of the above considered, this model shows, as
wonder, “is it a good time to buy?” We believe the answer to
theory suggests, that right now is not only a good time
this question is yes. However, we are more than happy to
to buy, but likely the best time in our current cycle. Visit
offer this answer today given Alberta’s current position in
intelligencehouse.ca to read our full extended article.
the “real estate cycle” – illustrated in the included graphic. BOOM MARKET
If you’re unfamiliar with this notion, the real estate cycle
BOOM MARKET
Extensive Construction
identifies when a market is poised for high or low price growth. Essentially, the path to high price pressure (right side of U-curve) is formed by periods of low market
Over Building Saturated Market
Active Construction
supply relative to demand, which stimulates construction. Conversely, the most recent period of contraction (left side of U-curve) is identified by moments of high supply relative to demand, which reduces construction. This cycle
Downward Price Growth Pressure
Intelligence House is Alberta’s newest and most innovative Real Estate Marketing Agency with a focus on strategic market intelligence which includes full research, marketing and sales / leasing services to the real estate industry.
BUY
Rising Property Values
Recession
intelligencehouse.ca From left to right: Emmett Hartfield Alex Ruffini Michael Melnychuk
FOLLOW US ON
Advice | CONTEMPLATING CONDOMINIUMS
‘Condo’ does not mean ‘apartment’! By Linda Palfi
THIS IS A MESSAGE TO EVERY editor and news reporter in western Canada. It may be photocopied and handed out to errant writers. Posting it on your newsroom’s bulletin board is welcome. Reprinting in any newspaper without permission is invited. Please help news writers understand that a condominium is not necessarily an apartment. In short, the word “condominium” is like the word “rental.” If you have a “rental,” it could be a rented apartment, a townhouse or a singlefamily home. You could also be renting a pad for your manufactured home, or an industrial bay for your business. Beyond real estate, in fact, your “rental” could also be a carpet shampoo machine, a car, a recreational vehicle or an airplane. In other words, reporting that an incident involved a “rental” tells us nothing except that the property or item is not owned by the person involved. The same limitation applies to use of the words “condominium” or “condo,” which mean only that the property or item is owned, with some common property
owned jointly with others. They do not describe the type of property. If a news story involves a residential complex, it may well be part of the story to specify whether it is rental or condominium-owned. I will debate with editors the validity and fairness of the biases conveyed by repeated use of words such as “rental” and “condo.” But it’s not debatable that news reporting should be clear, and in every news reference the writer should identify the property involved as an apartment, a townhouse, duplex, single-family home or an industrial bay, as the case may be. Headline writers, of course, can be the worst offenders. But as a former news reporter, editor and headline writer myself, I have little sympathy for their plight. Their job is to convey the essence of the story in just a few words. Their efforts fail when they pick up on a buzzword such as “condo” which leads readers to wrongly equate “condo” with “apartment.” An example headline: “Reunion held at condo” would be as silly as writing, “Reunion held at rental.” First off,
neither term should give us a mental picture of people meeting in any particular setting, because neither term specifies any housing type. And if we do get a picture of people gathering in an apartment, it could be wrong, as the setting might be a condominiumowned or a rented lakeside camping spot with an RV on it. And who cares about the ownership or nonownership of the property, when the story is about a reunion or whatever other news event is being reported? If we do care, it is secondary, and not headline material. More pertinent in this example might be, “Reunion draws 150.” Let’s touch on the buzzword issue and on the biases that news writers convey with the term “condo.” Any term that becomes a label carries a sense of judgement and is often an unfair simplification. We’ve long since learned this lesson as it applies to people, but reporters and editors still fall into the trap as it applies to people’s homes, be those mobile homes, rental apartments or condominium apartments. But if we label their homes, don’t we label the residents? The contraction “condo” is used too often because it’s short, because condominium homes are a growing part of the housing market, and because of news incidents which affect rented homes and condominium homes alike. The term’s overuse by the media is cute to the point of being flippant. Writers who use it beyond its relevance do a disservice to readers who want journalism’s unbiased five Ws: who, what, where, when and why. One last time: condominium and “condo” only mean that a property is owned, not that it’s an apartment.
Linda Palfi is a condominium-specialist realtor with Discover Real Estate. She is the chair of her condo board, and a member of the professional standards committee of the Calgary Real Estate Board. Visit condosincalgary.com or call 403.998.7732
28 YPNEXTHOME.CA
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01 HUNTER HOUSE BY STREETSIDE DEVELOPMENT
1020 194th Ave S.W. www.hunterhouseliving.com
02 BROOKLYN CONDOMINIUMS BY TRICO HOMES
1710-28 Ave. SW www.brooklyncondos.ca
03 OVATION BY INTERGULF CIDEX
#2105, 99 Spruce Place S.W.
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13 ALTADORE 36 BY BROOKFIELD RESIDENTIAL
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Glas
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CALGARY’S SATELLITE COMMUNITIES 21 THE WHITNEY BY LANDMARK HOMES
22 04
1A
11
09
20
AIRDRIE
10 12 15
13 14
06
09 CREEKSIDE VILLAGE BY CARLISLE GROUP
2
02
03 01 COCHRANE 08
211 & 215 Fireside Parkway Cochrane, AB
AIRDRIE
22
21
07
05
2105 403 MacKenzie Way SW Airdrie, Alberta www.creeksidevillagecondos.ca
10 STONEKEEP AT KING’S STRATHMORE HEIGHTS TOWNHOMES BY MERGE 1 DEVELOPMENTS
1
CALGARY
1225 King’s Heights Way SE Airdrie, Alberta
CHESTERMERE
797
11 THE EDGE BY STREETSIDE DEVELOPMENTS
LANGDON
BLACK DIAMOND
22X
604 East Lake Blvd N.E. Airdrie, Alberta
22X
22X
17
12 RAVENSWOOD TOWNHOMES BY SLOKKER CANADA WEST
2
2802 Kings Heights Gate
13 BROOKSIDE AT BAYSPRINGS BY MERGE DEVELOPMENTS
OKOTOKS
546
TURNER VALLEY
Yankee Valley Blvd. and 24th St. SW BrooksideAtBaysprings.com
2A
543 22
14 HILLCREST TOWNHOMES BY EXCEL HOMES
HIGH RIVER
COCHRANE 01 TOWNHOMES AT JUMPING POUND RIDGE BY SLOKKER CANADA WEST
Sales Centre on George Fox Trail just past Jumping Pound Terrace www.slokker-west.ca
02 HEARTLAND TOWNHOMES BY EXCEL HOMES 137 Heartland Way, Cochrane, Alberta
03 THE RISE BY JAYMAN MODUS
04 SUNSET RIDGE STREET TOWNS BY HOMES BY AVI 36 Sun Valley Road Cochrane, Alberta
05 STONECREEK LANDING BY CARLISLE GROUP
625 Glenbow, Cochrane, Alberta www.stonecreekcondos.ca
06 THE VILLAGE BY CALBRIDGE HOMES 3102-15 Sunset Square Cochrane, Alberta
07 RIVERREACH VILLAS & MANORS BY JAYMAN MASTERBUILT 13 Riviera Way Cochrane, Alberta
08 THE RANGE BY BIRCHWOOD PROPERTIES CORP. 101 Heartland Avenue Cochrane, Alberta
20 SUNSET BY JAYMAN INNOVATIONS
24 Sunset Rd. Cochrane, Alberta
101 Hillcrest Dr. SW Airdrie
15 ZEN RAVENSWOOD BY AVALON LETHBRIDGE MASTERBUILDER
Coming Soon Register: www.zenravenswood.com
17 ZEN OKOTOKS BY AVALON MASTERBUILDER
www.zeninbalance.com
22 SUNSETRIDGE TOWNHOMES BY EXCEL HOMES 24 Sunrise View Cochrane, AB
501 Riverheights Dr. Cochrane, AB
DEC 11, 2015 - JAN 8, 2016 | NEW CONDO GUIDE 33
12:02
Trending
2016 housing market outlook By Wayne Karl ATTENTION HOMEOWNERS and prospective homebuyers: the national housing market outlook includes some uncertainty in the economy. Make your decisions carefully. This doesn’t necessarily mean consumers should “take cover,” but the overriding message at Canada Mortgage and Housing Corp.’s kickoff Housing Market Outlook Conference series recently was that the housing industry – realtors, builders, developers, and of course buyers and sellers – should certainly “take note.” In language not usually used by CMHC at its outlook conferences, terms such as “overvaluation” were common. CMHC issued similar warnings in October, when it released its latest Housing Market Assessment, which highlighted that as of October, 11 of the 15 Canadian centres it monitors show at least moderate evidence of overvaluation, up from eight in August. Five of Canada’s largest markets are showing moderate to strong evidence of overvaluation. “We don’t want to put out the warning of
34 YPNEXTHOME.CA
overvaluation when it’s too late, when the market is bound for a strong correction,” says Bob Dugan, chief economist, CMHC. “We want to get that message out early. We want to get the information out to potential homebuyers, lenders, builders, to give them the tools to make better decisions.” Looking at the national picture, where there is modest evidence of overvaluation, CMHC says: » Mortgage rates will begin to rise gradually in late 2016. » Canada’s economy is expected to continue to attract a high level of immigrants. The level of net migration will remain above its historical average and help support Canada’s housing market. » Income is expected to increase modestly as economic conditions in Canada improve. Income growth will remain supportive of housing demand over the forecast horizon.
Downside risks to the national outlook include: » Future path of oil prices remains the most significant domestic risk that could limit growth through decreasing exports » Broader slowdown in China’s economic growth will negatively affect the Canadian economy through weaker demand for exports » Household debt levels remaining elevated represent a vulnerability that could amplify an economic shock
from the
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12
East Village Experience Centre 553 Riverfront Ave. SE
ROTARY PARK
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14 AVLI ON ATLANTIC BY RED MANAGEMENT
17
1220 9th Ave.
EAU CLAIRE04 MARKET
24
25
16
15 SCOLLEN HOUSE BY 320 MISSION DEVELOPMENTS
01
Corner of 25th & 3rd St. SW
4 AVE S
06
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13 18
5 AVE S 6 AVE S
REYHOUND US TERMINAL
5:02 PM
24
MILLENNIUM PARK
Sales Centre 921 - 1st Ave. NE
19 CONVENTION CENTRE
9 AVE S
26
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1 ST E
COLONEL BELCHER HOSPITAL MOUNT ROYAL VILLAGE
26 AVE S
08
TALISMAN SPORTS CENTRE
4 ST W
5 ST W
VICTORIA PARK / STAMPEDE STATION
PROSPECT AVE
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10 ST W
23 AVE S
CLIFF ST
17 AVE S
01 RIVERFRONT POINTE BY CARLISLE GROUP 325 3rd St. SW www.riverfrontpointe.ca
02 PARK POINT BY QUALEX-LANDMARK Coming Soon Register now at Qualex.ca/ ParkPoint
03 43 PARK BY VERICON REAL ESTATE VENTURES 43park.ca
04 WATERFRONT BY ANTHEM PROPERTIES 216 Riverfront Ave. S.W.
05 THE GUARDIAN BY HON TOWERS
12th Ave SE at 3rd St.
15 26 AVE S
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MACLEOD TR
1 ST W
2 ST W
11 AVE S
4 ST W
5 ST W
8 ST W
10 ST W
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17 916 BY SABLE DEVELOPMENTS
FORT CALGARY
CITY HALL
916 Memorial Drive
11
18 EVOLUTION BY EMBASSY BOSA INC.
East Village Experience Centre 553 Riverfront Ave. SE
19 VERVE BY FRAM + SLOKKER
Sales Centre Now Open in East Village
CALGARY EXIBITION AND STAMPEDE PARK
20 LIDO BY BATTISTELLA
ERLTON / STAMPEDE STATION
21 V&V BY PROVIDENCE GROUP
Sales Centre 1120 Kensington Rd
Register: einsteincalgary.com
23
06 AVENUE BY GROSVENOR & CRESSEY 1035 5th Ave. SW
07 SMITH BY GROSVENOR
Visit Sales Centre at 850-16th Ave. SW, 2nd Floor
08 DISTRICT BY BOULEVARD INVESTMENTS Sales Centre Now Open 305 18th Ave. SW
09 LiFFT BY VERICON REAL ESTATE VENTURES liveLiFFT.com
10 BRIDGELAND CROSSINGS BY GABLECRAFT HOMES bridgelandcrossings.ca
11 SOBOW BY M2I DEVELOPMENTS CORPORATION
22 ALEX BY ASSURED COMMUNITIES
Presentation Centre: 2719 14th St. SW
23 MISSION 34 BY ASSURED COMMUNITIES
98 Mission Road SW mission34.ca
24 RADIUS BY BUCCI DEVELOPMENTS Coming soon to Bridgeland www.bucci.com/radius
25 BRIDGELAND HILL BY GABLECRAFT HOMES 516 Edmonton Tr. NE
26 THE ROYAL BY EMBASSY BOSA 936 16TH Ave. SW www.theroyallife.ca
1640 17A St.
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DEC 11, 2015 - JAN 8, 2016 | NEW CONDO GUIDE 37
Inspiration
Designer GIFT LIST By Jo Alcorn For your pooch
I often get asked what my go-to holiday gift ideas are. Not all my gifts are decor pieces – it’s often function that I look for in holiday gifts. Here are my top gift ideas this year that will fit nicely into any decor and, of course, be functional.
So many people have dogs these days. If you’re a dog owner yourself, you know that there is often a stocking plus many presents under the tree for your hound. My new dog bed collection is reversible and fully washable – not just the cover, the entire bed. I’ve also created throw cushion to match your dog bed – now your puppy can rest and relax in style Available at shop.ca
Baby it’s cold outside
Kitchen party Most holiday parties start or end in the kitchen, so why not make a statement this year with a kitchen gift? I love the idea of giving a set of two dishes, one wrapped and the other with an edible hostess gift in it that the entire party can enjoy.
I am in love with the luxuriously soft comfort of the new Sunbeam heated throw. Its deep colour and soft royal mink plush fabric (faux of course) make it the perfect gift for cold winter nights. It also has a great safety feature – it turns off in three hours, so even if you doze off in its comfort it will automatically turn off. Available at walmart.ca
kitchenaid.ca
Jo Alcorn is a celebrity designer specializing in savvy spaces and design solutions for all budgets. She is the interior expert on HGTV’s Critical Listing and their new show Home to Win, and shares her expertise regularly on TV. Visit whitewashco.ca
38 YPNEXTHOME.CA
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Neighbourhood Profile
East Village Condo living with a downtown buzz Fast facts Most common housing type
Highrise
Family composition
SINGLES
COUPLES
FAMILIES
86%
14%
0%
Own vs. rent
89% OWNERS
MORE PHOTOS ONLINE ypnexthome.ca/east-village
11%
PEOPLE who like to be a part of the
downtown buzz and enjoy condo living will love East Village. Active residents, downtown urbanites and professionals who value being close to work and the amenities associated with downtown should definitely consider this area. Just remember – you’ll pay for these conveniences Vibe East Village has undergone intense revitalization in the last few years. Due to once high vacancy rates, this downtown neighbourhood was formerly known as “the wrong side of the tracks,” but in recent years has become one of the residential hot spots. East Village is now home to restored heritage buildings, public art, brand new condominium highrises, parkways and connecting bridges. Meet the neighbours The convenience of having downtown so close and the influx of new metropolitan inspired condos, complete with rooftop patios and a spectacular view of the river, make this a popular place with the younger 40 YPNEXTHOME.CA
crowd and professionals. You won’t see much for families in the area and many of the residents are renters versus owners. In the area The Riverwalk is always full of runners, cyclists and outdoor yoga classes. Coined “Eat Village” by locals, there’s Charbar restaurant and patio; Phil and Sebastian coffee and fresh baking from Sidewalk Citizen Cafe – all located in the now restored Simmons Building. You’ll also find an assortment of food trucks. Planes, trains & automobiles Because this community is so centrally located, this is one part of Calgary where you could go without a vehicle. The city hall C-Train stop is close by and downtown is just a few minutes walk via the Riverwalk. Bike and walking paths also make it easy to cross the river into a number of nearby neighbourhoods. The good, the bad & the rest With ambitious plans to bring in high-end retail, hotels and other
RENTERS Education levels
46% HIGH SCHOOL
28%
26%
COLLEGE
UNIVERSITY
SOURCE: ENVIRONICS
luxury amenities over the next few years, this is sure to become one of the most posh areas to buy a condo in the city. Revitalization efforts have gone a long way to clean up this part of the downtown. Real estate If East Village sounds like the place for you, then you should be prepared to pay more than average to rent or own. Living in the heart of the city means you’re paying more for groceries, meals out and retail, which is why it makes for an ideal spot for single people or couples with disposable income.
Trending
6 financial homebuying tips By Wayne Karl
MORE TRENDING ONLINE ypnexthome.ca/news
PLANNING TO BUY A HOME and not
sure where to begin? Maybe it’s your first home, or it’s been a while and you’re ready to move up to a larger property. Here are six homebuying tips to help you prepare. 1. Get with the programs There are various government programs available to help you buy a home. Home Buyers’ Plan (HBP): The HBP allows first-time buyers to withdraw up to $25,000 from their RRSP to put toward a down payment on a home. You have up to 15 years to repay the funds. Prime Minister Justin Trudeau has promised to modernize the program to allow Canadians to dip into their RRSPs to buy a home more than once, including when impacted by life changes such as job relocation, death of a spouse or marital breakdown. First-Time Home Buyers’ Tax Credit (HBTC): Eligible first-time buyers can apply for the FTHB to help offset the costs associated with purchasing a home, such as legal fees, disbursements and land transfer taxes. The credit can provide up to $750 in federal tax relief. 42 YPNEXTHOME.CA
4. Become tech savvy Mortgage consumers are becoming very tech savvy. In Canada Mortgage and Housing Corp.’s 2015 Mortgage Consumer Survey, 78 per cent of respondents researched online, with 70 per cent using an mortgage calculator to help determine their payments. And social media is playing a more important role – 20 per cent used sites such as Facebook to learn more, 17 per cent used a mobile device – and of those, 22 per cent used a mortgage related app. All of these figures are growing.
3. Plead with the bank of mom and dad
5. Befriend a broker or banker Like many things in life, it’s all about relationships. And whether you use broker or a banker to secure a mortgage, you’ll likely come to value the relationship. In the same CMHC survey, consumer loyalty strengthened the longer people stayed with their lender. But since we’re talking about money, people are willing to switch lenders to get a better rate and save – a fact which is much more prevalent for bankers than brokers. And because brokers are able to offer products from multiple lenders, as opposed to bankers which offer only the products of their own institution, the market share held by brokers is growing notably, particularly among repeat buyers.
If your parents are baby boomers who have had the good fortune of building equity over the years as they paid down their mortgage while the value of their property multiplied, well… they may be in a position to help. And more buyers are hitting up the bank of mom and dad. In the last two years, 28 per cent of firsttime buyers called on the bank of mom and dad to help finance their purchase; from 2010 to 2014, only 17 per cent did.
6. Research, research, research These days, with prices rising as they are and uncertainty in some markets, thorough research is an absolute must. Everything from your target area, desired housing type, builder or realtor, finances, how much you can afford, who you borrow from and the structure of your mortgage – take your time. Take months. Don’t rush anything. Anything.
More information on these programs is available at cra.gc.ca 2. Save your a-- off First-time buyers require a minimum five per cent of the purchase price as a down payment. Using the 2014 figure for the average house price in Canada, $451,000, that would amount to $22,500. To put down 20 per cent and thus avoid high-ratio mortgage insurance, you’d have to save $90,200. Ouch. Oh, it gets better – er, worse. In Toronto, 20 per cent of the average price would be $130,000; in Vancouver, $181,000.
METIS TRAIL
NORTHEAST COMMUNITIES
52 STREET
CALGARY INTERNATIONAL AIRPORT
64 Ave
CENTRE STREET 12 AVENUE
07 ARRIVE AT SKYVIEW RANCH ARBOURS BY PARTNERS DEVELOPMENT GROUP Coming Soon www.arrivehome.ca
13 V&V BY PROVIDENCE GROUP
IVE
IAL DR
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36 STREET
17 Ave
52 STREET
BLACKFOOT TRAIL
ELBOW DR IVE
104 Redstone View (off Redstone Way)
16 AVENUE
02 43 PARK BY VERICON REAL ESTATE VENTURES
MacLEOD TRAIL
43park.ca
ANDERSON ROAD
DEERF
52 STREET
BARLOW TRAIL
GLENMORE TRAIL
SOUTHLAND DRIVE
114 AVE SE
OOT T RA
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McKE
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Mac
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SHAWNESSY BLVD.
NEW BRIGHTON
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06 ARRIVE AT REDSTONE BY PARTNERS DEVELOPMENT GROUP
13
17 Ave
GLENMORE RESERVOIR
Coming Early 2016 Register: jayman.com/harana
64 Ave
32 Ave
03 04 MEMO 02 01 RIAL D RIVE
Coming Soon bridgelandcrossings.com
05 HARANA TOWNHOMES BY JAYMAN MODUS
80 Ave
MCKNIGHT BLVD.
16 AVENUE
01 BRIDGELAND CROSSINGS BY APEX CITY HOMES
Sales Centre 921 - 1st Ave. NE www.stepsbridgeland.com
84 STREET
14 STREET
.
04 STEPS BRIDGELAND BY GIUSTINI BRIDGES IN.
68 STREET
CRI J OW OHN CH L ILD AUR IE TR BLV AIL D
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SADDLETREE DR.
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DEC 11, 2015 - JAN 8, 2016 | NEW CONDO GUIDE 45
Advice | MONEY MATTERS
Budgeting for holiday shopping By Gail Vaz-Oxlade
THE HOLIDAYS ARE JUST AROUND the
corner and only the most savvy of us have everything under control. That’s one of the problems with our very busy lives… there’s just no time. But if you want to have a happy holiday that doesn’t leave you holding your aching head when the bills roll in come January, you have to start planning early. The longer you wait, the more you’re prone to give in to stress, make impulse purchases, blow your budget or even buy a lame gift. Look at your holiday spending as you would any other big-ticket item. While you’re splitting the cost among a variety of expenses, the bottom line is still the same – you’re spending a lot of money in a short period of time. In the best of all worlds, you would have started saving for your holiday spending in January. Yup, you would have made it a budget item and set aside $10, $50, $150 a month so when the season rolled ‘round, you’d be ready. After all, it’s way easier to set aside $100 a month than to come up with $1,200 all at once. This is how I do it, and come August I start keeping my eyes open for “deals” on things I know my friends and family will love. Failing that, start here, with Gail’s holiday spending plan » Write down the amount you want to spend in each category of holiday expenses. Gifts are only the beginning – don’t forget to account for travel costs, postage and shipping, decorating, greeting cards, entertainment and photos.
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» List the people you plan to shop for under the gift category, then divide up your budget accordingly. Limit your budget to what you can afford right now and avoid a financial hangover in the New Year. If you spend $500 on a credit card at 18 per cent interest, and pay the minimum each month, it’ll take you seven years – and cost $365 in interest – to pay it off. Consider setting a dollar limit on gifts or drawing names among extended family, roommates or co-workers. A dash of planning and a dab of creativity can also help you keep your entertainment costs under control » Invite guests to bring something to share at a potluck dinner. » Serve brunch, throw a finger-food party or host a wine and cheese tasting instead of a full-blown turkey dinner.
» Co-host a party with a pal or sibling, and share the cost. » Make sure you set a dollar limit for your soiree. And list the items, ingredients and decor you’ll need and how much each will cost. » Remember, that the best gifts don’t have to cost money. If you’re financially challenged this year, offer up your time babysitting, cooking meals, house cleaning, massaging, sewing, knitting, transporting, or whatever else you’re good at. Clip a picture of the service you’ll provide and be clear on how often, as in “I’ll babysit one weekend a month from February to June.” Or better yet, make your own coupon book. There now, you don’t have to worry about starting the New Year with a financial hangover. Happy holidays!
Gail Vaz-Oxlade is the host of Til Debt Do Us Part and author of Debt Free Forever and blogs daily at gailvazoxlade.com
46 YPNEXTHOME.CA
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