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Weekly Calgary Real Estate Update August 19/2019

Weekly Calgary Real Estate Update August 19/2019

8071 homes for sale in metro Calgary (down 23)

1489 homes sold in the last 30 days (down 2)

5.42 months worth of inventory (down 0.01)

18.45% of the homes statistically to sell in the next 30 days (up 0.03%)

Market Conditions: Buyers

Average List Price: $471,274 (up $2,205)

Average Sale Price: $455,616 (up $2,178)

Average days on market: 610 (down 1)

Average list to sale price ratio : 96.66% (up 0.01%)

*Numbers in the brackets are a comparison from last week’s stats. Ideally, we want the number of homes selling in the last 30 days to increase weekly, the months of inventory to decrease (meaning demand is matching inventory) and the % of homes to sell in the next 30 days to increase

 

Weekly Calgary Real Estate Update August 12/2019

Weekly Calgary Real Estate Update August 12/2019

8094 homes for sale in metro Calgary (up 115)

1491 homes sold in the last 30 days (down 37)

5.43 months worth of inventory (up 0.21)

18.42% of the homes statistically to sell in the next 30 days (down 0.73%)

Market Conditions: Buyers

Average List Price: $469,069 (down $5,915)

Average Sale Price: $453,438 (down $5,486)

Average days on market: 61 (up 2)

Average list to sale price ratio : 96.65% (up 0.05%)

*Numbers in the brackets are a comparison from last week’s stats. Ideally, we want the number of homes selling in the last 30 days to increase weekly, the months of inventory to decrease (meaning demand is matching inventory) and the % of homes to sell in the next 30 days to increase

Blue Recycle Bins Getting Checked In On

 

Blue Recycle Bins Getting Checked In On

Depending on which area of the City of Calgary you are residing in, you may have already noticed that the City Of Calgary is sending a team out to evaluate your Recycle Bins. They are trying to ensure that Calgarians are properly recycling and giving out notices if your bin is incorrectly loaded with recyclables. Please visit the calgary.ca/bluecart website to ensure you don’t get a notice.

 

 

Barb Eglauer – Here To Make Mortgage Financing Work For You

Visit website Email me! (780) 720-5185 Barb Eglauer

Here to Make Mortgage
Financing Work for You

 

New mortgage rules, stress tests, and slowing markets have definitely had an impact on home buyers. And there has been an impact on those with existing mortgages who want to refinance, renew or those who want to switch (transfer) lenders to take advantage of a better rate or product.

Despite the challenges, there are solutions. Part of my job is to problem solve and help make mortgage financing happen for you, whether a new home purchase, a refi or a better alternative at renewal time.

First, let’s look at renewals. At renewal time, you have the option of increasing your mortgage or keep it the way it is. In the latter case, if you’re happy with your lender, simply renew and move on. However, if you plan to shop for a better rate, change the amortization, or look at refinancing, then you must re-qualify – even with your current lender.

Here are a few situations you may encounter:

  • Switching lenders to take advantage of a better rate. Many lenders will transfer in your mortgage as-is as long as there are no increased risks, meaning no changes in amortization or increases in the amount of the mortgage. But, if your housing expenses or debt servicing ratios increase, then you may not qualify for a new mortgage and may have to stay with your current lender.
  • Penalties can be high. If you have a fixed rate that is higher than what’s available today and you’re two years into a five-year mortgage, you may want to break your mortgage and get a new one, but the penalties could be high. We can analyze the situation to see if there is value to paying the penalty.
  • New ratios will impact your ability to get approved. The mortgage rules changed the qualifying ratios that traditional lenders use, although recently the benchmark rate has been reduced slightly.  That said, if you are carrying a high debt load, you may not qualify.
  • Your line of credit and changing your lender. Rules for home equity lines of credit (HELOCS) have changed dramatically. No longer can you borrow up to 80% loan-to-value (LTV). The max amount you can access as a revolving line is 65% LTV. However, some lenders will allow you to transfer in collateral mortgages.

Now let’s look at home purchases. For those purchasing a home, the government introduced a new initiative – a Shared Equity program that could reduce another 5% to your required down payment. In addition, changes to the RRSP Home Buyers Plan allows first time homebuyers to withdraw up to $35,000 — this is an increase from the previous limit of $25,000.

As mentioned earlier, even better news for everyone is that the qualifying rate just went down, which may mean that more people could qualify for a mortgage.

Each client has different needs and different financial goals. I can help make your mortgage financing happen.

Call me today!

Watch my video Call me today.
Yes, buying a house can be stressful but it doesn’t have to be.Call me today and let’s talk about your homeownership plans and how I can help the process go smoother.

Weekly Calgary Real Estate Update July 29/2019

Weekly Calgary Real Estate Update July 29/2019

8248 homes for sale in metro Calgary (up 65)

1551 homes sold in the last 30 days (down 53)

5.31 months worth of inventory (up 0.21)

18.90% of the homes statistically to sell in the next 30 days (down 0.70%)

Market Conditions: Buyers

Average List Price: $469,434 (down $729)

Average Sale Price: $453,954 (up $307)

Average days on market: 58 (same)

Average list to sale price ratio : 96.65% (down 0.04%)

*Numbers in the brackets are a comparison from last week’s stats. Ideally, we want the number of homes selling in the last 30 days to increase weekly, the months of inventory to decrease (meaning demand is matching inventory) and the % of homes to sell in the next 30 days to increase

Weekly Calgary Real Estate Update August 6/2019

Weekly Calgary Real Estate Update August 6/2019

7979 homes for sale in metro Calgary (down 269)

1528 homes sold in the last 30 days (down 23)

5.22 months worth of inventory (down 0.09)

19.15% of the homes statistically to sell in the next 30 days (up 0.25%)

Market Conditions: Buyers

Average List Price: $474,984 (up $5,550)

Average Sale Price: $458,924 (up $4,970)

Average days on market: 59 (up 1)

Average list to sale price ratio : 96.60% (down 0.05%)

*Numbers in the brackets are a comparison from last week’s stats. Ideally, we want the number of homes selling in the last 30 days to increase weekly, the months of inventory to decrease (meaning demand is matching inventory) and the % of homes to sell in the next 30 days to increase

Weekly Calgary Real Estate Update July 22/2019

Weekly Calgary Real Estate Update July 22/2019

8183 homes for sale in metro Calgary (up 2)

1604 homes sold in the last 30 days (down 45)

5.10 months worth of inventory (up 0.14)

19.60% of the homes statistically to sell in the next 30 days (down 0.56%)

Market Conditions: Buyers

Average List Price: $470,163 (down $2,218)

Average Sale Price: $454,261 (down $2,251)

Average days on market: 58 (up 1)

Average list to sale price ratio : 96.69% (same)

*Numbers in the brackets are a comparison from last week’s stats. Ideally, we want the number of homes selling in the last 30 days to increase weekly, the months of inventory to decrease (meaning demand is matching inventory) and the % of homes to sell in the next 30 days to increase

Weekly Calgary Real Estate Update July 15/2019

Weekly Calgary Real Estate Update July 15/2019

8181 homes for sale in metro Calgary (up 5)

1649 homes sold in the last 30 days (down 70)

4.96 months worth of inventory (up 0.20)

20.16% of the homes statistically to sell in the next 30 days (down 0.86%)

Market Conditions: Buyers

Average List Price: $472,381 (down $312)

Average Sale Price: $456,512 (down $747)

Average days on market: 57 (up 1)

Average list to sale price ratio : 96.69% (down 0.10%)

*Numbers in the brackets are a comparison from last week’s stats. Ideally, we want the number of homes selling in the last 30 days to increase weekly, the months of inventory to decrease (meaning demand is matching inventory) and the % of homes to sell in the next 30 days to increase

 

Weekly Calgary Real Estate Update July 8/2019

Weekly Calgary Real Estate Update July 8/2019

8176 homes for sale in metro Calgary (down 76)

1719 homes sold in the last 30 days (down 83)

4.76 months worth of inventory (up 0.18)

21.02% of the homes statistically to sell in the next 30 days (down 0.82%)

Market Conditions: Buyers

Average List Price: $472,693 (down $6,982)

Average Sale Price: $457,259 (down $6,264)

Average days on market: 56 (same)

Average list to sale price ratio : 96.79% (up 0.07%)

*Numbers in the brackets are a comparison from last week’s stats. Ideally, we want the number of homes selling in the last 30 days to increase weekly, the months of inventory to decrease (meaning demand is matching inventory) and the % of homes to sell in the next 30 days to increase

 

Weekly Calgary Real Estate Update July 1/2019

Weekly Calgary Real Estate Update July 1/2019

8252 homes for sale in metro Calgary (down 213)

1802 homes sold in the last 30 days (down 25)

4.58 months worth of inventory (down 0.05)

21.84% of the homes statistically to sell in the next 30 days (up 0.26%)

Market Conditions: Buyers

Average List Price: $479,675 (down $1,890)

Average Sale Price: $463,523 (down $2,884)

Average days on market: 56 (up 1)

Average list to sale price ratio : 96.72% (down 0.10%)

*Numbers in the brackets are a comparison from last week’s stats. Ideally, we want the number of homes selling in the last 30 days to increase weekly, the months of inventory to decrease (meaning demand is matching inventory) and the % of homes to sell in the next 30 days to increase