Property Management and Real Estate Services

If you’re thinking about selling your home, it can significantly help to have an experienced, qualified and seasoned real estate broker on your side. A real estate company can ensure that you list your property for an amount that is close to its valuation. Hiring a real estate broker can ensure that your home is sold for the right price and that you will not be undersold. Real estate agents can also provide guidance and expert advice if you have any questions during the selling process.

Continue reading “Benefits of Using a Real Estate Broker to Sell Your Home”

If you own a rental property in Calgary, the assistance of a property management company can go a long way. Landlords have to deal with many responsibilities on a day-to-day basis and a property management company can help reduce the workload and the associated stress. Firms that specialize in property management can assist landlords who have to manage difficult tenants. If you want to find reliable and trustworthy people to move into your building, a prominent firm may be able to lend you a helping hand with the process.

Property Management Can Reduce Tenant Turnover

Frequent tenant turnover can be a major issue for many rental properties. A property management company can provide guidance on how to reduce tenant turnover and methods to keep tenants happy. Additionally, property management companies can evaluate potential tenants and help you find new, reliable tenants to move into your property.

Prompt Rent Payment Assistance

It can be extremely frustrating for landlords to have to handle tenants who simply refuse to pay rent. If you want to save yourself from this stress and hassle, a good property management company can be a significant asset. Management professionals can aid landlords with lease policies and as a result can often help ensure prompt payments. This can give anxious and busy landlords peace of mind every month.

Contact a Property Management Company Today

If you have rental property in Calgary, a property management company can help you manage your rental properties and deal with tenants. A qualified firm can work with rental properties of all types and sizes and help you find the most suitable tenant to move into your rental.

Speak to our property management team for expert help with your rental properties.

 

Unison Realty Group Ltd.
Calgary’s Choice for Property Management & Rentals
For any questions or enquires contact us:
Phone: (403) 219-3000
Email: [email protected]
Website: http://138.68.242.122

A real-estate broker is an experienced person who has dealt with many mortgage related transactions and deals. Because they are experienced in this field, they can easily guide a buyer or a seller during their real estate buying and selling process. Agents usually present the deal on behalf of their client, assist during the legal procedure, closing and help the client during the transaction proceedings.

Continue reading “How A Real-Estate Agent can Help You with Your Property”

Before you start with the search, you should understand the process thoroughly and the requisites. This will simplify the entire process of home buying too. In this article, you will learn about important requisites and steps that you should be aware of before buying your own home property.

Continue reading “Understand the Home Buying Process:”

Staying in a gorgeous villa or in an opulent hotel just won’t give you the experience of a luxurious lifestyle. After all, you cannot stay there for months. However, you can enjoy a lavish and luxurious lifestyle by staying in an executive condo rental. Here is a detailed overview.

Continue reading “Enjoy a Luxurious Lifestyle with an Executive Condo Rental”

Nearly all realtors and property management companies give the advice to the sellers to stage their property before listing it for sale. Based on some surveys conducted by popular real estate businesses, it is true that staging is an important part before listing a property for sale. In fact, it may help to raise the home’s sale price in the market. Here is a brief overview.

The Advantages of Home Staging in Your Property:

Achieve a Better Pome price:

The money spent on staging could yield a higher price by increasing your home’s resale value. What makes the staging so popular is that it gives buyers a more favorable impression about your property. In fact, buyers can feel the livability of your home, which in turn helps the property sell faster. While this is the common scenario in a property staging , this might not be applicable at all locations and to all price points.

Display Your Property in an Attractive Manner:

Because property staging can appeal to different tastes and preferences of various clients, it can influence them to buy. That is the most important advantage of staging. Home staging allows the seller to attract clients by showing what possibilities the property has.

Stand out with a Strong Market Image:

A well staged property often stands out in the market. Because buyers like to view such a property, the listing definitely attracts more buyers. In contrast, the properties that are not stages could become unnoticeable by many potential buyers.

Staging is a Great Selling Tool:

Popular luxury home specialists often agree to the fact that staging has helped them raise the property sale price easily. That doesn’t mean that they can quote the price way above the market price. However, they can always come up with a better sale price defined by comparable listing, if the home is staged. Therefore, many top realtors and real-estate agents use staging as one of the many tools to help their clients to price their home before listing it for sale.

Staging Improves the Home’s Listing:

Staging definitely remains an essential part of the marketing of a property. This is a powerful tool that represents your property in a better way, especially in a buyer’s market.

Increase your Chance of a Sale with Unison Realty’s Home Staging Services

 

Unison Realty Group Ltd.
Calgary’s Choice for Property Management & Rentals

For any questions or enquires contact us:

Phone: (403) 219-3000
Email: [email protected]
Website: http://138.68.242.122

Hiring a competent property manager or a rental property management company can make your task of renting easier and smoother. Experienced real estate analysts and property management companies can have a fair knowledge about the market value, current real estate scenario, and the real value for your investment. Here are some top advantages of using a professional residential and rental property management company.

Continue reading “The Advantages of Using a Professional Residential & Rental Property Management Company”

Using a property manager can be very beneficial for your residential and rental property management. In fact, it can add some significant value to your investment too. Here are a few advantages described in details.

Continue reading “The Benefits of a Rental Property Management Company”

renting-vs-buying-calgaryWhen deciding on a new home there are a lot factors to consider. Both renting and home buying have some advantages and disadvantages. While making a choice between the two, it is important for you to go through all the factors and decide what works best for you.

What To Consider Before Buying Or Renting

How Long Do You Plan To Live In Your Home

When you are buying a home, you need to make up your mind that it is for a long-term stay. Unlike apartments, you cannot change your home often. If you are not fully committed to a location then renting may be the better option for you as it leaves you the freedom to fall in love with an area and stay put or move on to another home if you feel a new location is more suitable.

Compare The Cost of Renting or Buying

Money is the biggest factor while making the decision to buy or rent. Before signing that contract, take a few hours and find out more about the money you have to pay every month. Home buying doesn’t just include monthly mortgage payments. You need to take HOA, property tax and maintenance fee into your consideration too. If you don’t like a long term commitment for investment, then renting is suitable for you.

Property Maintenance and Repairs

When you own a home, you need to take care of the maintenance. No maintenance is required if you are staying in an apartment. This one is a biggest advantage of renting.

Tax Advantages of Home Ownership

A mortgage loan can also save you a few bucks with better tax benefits. Homeowners can deduct their mortgage interest payments and property tax payments from their income tax. Eventually, it reduces the final cost of homeownership. This is one important advantage of home ownership

Speak To Us About Any Residential Rental Property Questions You Have.

Unison Realty Group Ltd.

Calgary’s Choice for Property Management & Rentals

 

For any questions or enquires contact us:

Phone: (403) 219-3000
Email: [email protected]
Website: http://138.68.242.122/

unfurnished-rental-calgaryYou will have many things to consider if you are getting ready to move. You will have to decide on the town, the utility companies, the school systems and more. Another thing that you will have to consider before you move is whether to rent a furnished or unfurnished property. The following are the advantages of renting either one:

Only One Price for Renting Furnished Properties

One benefit to renting a furnished property is that you only have to pay one price for everything. The furniture, utility bills and Internet bills are often included in the furnished price. That arrangement is a stress-free and organized arrangement. Many renters work on tight budgets. Having the complete price available is perfect if you are such a renter.

Nothing to Move When You Leave Furnished Properties

Another excellent benefit of renting a furnished property is that you do not have to move a bunch of items when it is time for you to go. You only have to move light baggage and clothing items. A furnished apartment provides you with peace of mind.

Rent Is Cheaper for an Unfurnished Apartment

An unfurnished apartment rental has perks of its own like cheaper monthly rent. You can rent an unfurnished apartment that is closer to the budget than a furnished apartment is. You could occupy an unfurnished apartment and then add furniture to it when the funds are available. There is no pressure for you to rush to set up the home in other words.

You Can Arrange an Unfurnished Apartment Your Way

An unfurnished apartment is flexible, meaning that you can arrange it any way that you like. You can create any mood or arraignment that fits your overall vision. You are not confined to the wallpaper, paint, furniture and style that has been set up in a furnished home.

Speak To Us For All Of Your Furnished and Unfurnished Rental Needs.

 

Unison Realty Group Ltd.
Calgary’s Choice for Property Management & Rentals

For any questions or enquires contact us:
Phone: (403) 219-3000
Email: [email protected]
Website: http://138.68.242.122

A real estate analyst with the Real Estate Investment Network (REIN) says the fact that Calgary’s housing prices aren’t budging much shouldn’t come as a shock. “The current Calgary real estate market conditions are disappointing but unsurprising,” said Don Campbell, senior real estate analyst with REIN.

The oil price slide is in its 15th month after all, he says. Previous forecasts stated prices would begin to slide from November 2015 to February 2016 amid mixed signals in the market.

“The drop in oil prices, which brought layoffs and lower consumer confidence, have been the largest factor in today’s market conditions, prices held steady due to a lack of real desperation to sell,” said Campbell.

Uncertainty all around

Add to the mix, Campbell says, is the uncertainty from Rachel Notley’s newly-elected government regarding taxes, regulation, or an economic strategy.

“These two main factors have pushed the listings up substantially while keeping the buyers on the sidelines,” he said.

According to Calgary MLS, the current detached home listings in September were 3,012 — or 17 per cent more — compared to the same period last year. Although the Calgary Real Estate Board reports total residential sales in the city were 1,448 units in September, well below typical activity levels for this time of year.

Year-to-date Calgary sales remained below both the five- and 10-year averages.

But Campbell says two other major factors are keeping a cap on housing prices — the growing population in the region before oil prices went south and the rental market.

“These new citizens have supported both the housing resale market as well as the rental market,” he said, adding this is directly connected to the second factor — high rents and low vacancy rates in the region.

He suggests that if homeowners were thinking of selling their home but wanted to stay in the city, when they did the math, they discovered it was cheaper to stay put.

“This lack of next home lowered the motivation level of those who listed their property and thus many were willing to stand firm on their price which in turn stabilized the average sale price.”

2016 predictions

But Campbell says to expect even lower housing prices to emerge with increased motivation from November to February with more vacancies but oil prices still remaining low.

Looking into 2016, Campbell says mixed signals will continue if oil prices stay consistently below $50 and there’s no pipeline announcement — likely resulting in more downward housing prices, plus a big dive in demand for luxury homes.

He expects vacancy rates will begin to move up, which could bring rental rates down.

“This will free up the ability for more people who have listed their property to make a move into the rental market while they await more surety.”

The Streamlife Four Step P.L.A.N. to Get Organized. P.L.A.N. stands for Prioritize, Liberate, Arrange and Nurture. Here we’ll focus on the two middle steps to reclaim calm and control in your environment.
1. Liberate
Take a look at what’s piling up. Is it clothing, books, media, food? Gather like items and take them to where you intend to store them. You’ll now have books near your bookshelves, clothes close to your closet, and food near the pantry. There likely won’t be room for everything, so now it’s time to edit.
Sort out the things that no longer inspire or fit you, or are too worn or damaged to be used or repaired, and give yourself permission to let them go. That includes new gifts that just don’t suit you or your current lifestyle. Gather receipts and exchange them or pass them on to someone who will appreciate them. You’ll want to edit down to close to the volume of items that can fit in your space comfortably.
2. Arrange
Now, it’s time to create homes for the new items. There may be plenty of space after you have edited, but if not, try some of these organizing tools that really help “create space”.
Organizing supplies. The goal is to make whatever you put away easy to find when you need it. There are three key principles to consider when storing items – keep them visible, accessible and manageable. The following products accomplish all three.

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Pliio Clothing Management System
Pliio is the only line of organizing tools that help you fold your clothes and actually keep them folded. Clothes are folded around the tool which stays inside the garment. This allows you to store clothes vertically in drawers – making them visible, and with the structure inside the garment, they become as easy to manage as putting books on a shelf. Easy for any age to use, the line includes two sizes of Clothing Filers for tidy drawers, Clothing Pilers to tame the messiest shelves, and Storage Boxes designed to fit the filers.
www.pliio.com
Available at Bed, Bath and Beyond and Home Outfitters.

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Clear, Plastic Shoe Boxes
Yes, they are fantastic for shoes, but clear shoe boxes are invaluable helpers in containing small items in almost any storage space in the home. Inexpensive, stackable and see-through they work in under-sink cabinets and on shelves keeping things easy to see and easy to manage. Use just the bottoms as drawer dividers. Examples of things you might store include: shoe care supplies, mini-toiletries, spices, light bulbs, and first aid.
Available at Home Depot.

Smead Stadium File Sorter
It’s easy for paper to pile up and soon you’ve the important in with the recycling. If out of sight is out of mind for you, consider this paper file sorter which has multiple compartments for letter-sized file folders each of which at its own level. This lets you see the name of each file. Store it on or near your desk, or on a kitchen counter, a common place for papers to collect.
Smead.com
Available at Amazon.ca.

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Rubbermaid Modular Canisters
If kitchen cupboards are chaotic, consider replacing bags of dried goods with these stackable containers. They are designed to fit in upper cabinets and fill the space from front to back, so there will be no hidden row of forgotten items. Available in four different heights, stack them to fill your cabinet from top to bottom making the most of your storage space.
Rubbermaid Modular Canisters
Available at Walmart.ca.

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Global News

Get into the Christmas spirit by enjoying some of the family-friendly holiday events happening around Calgary this year.

Zoolights

Head to the Calgary Zoo for their annual Christmas light display. 1.5 million twinkling lights line pathways and twist around trees, forming animals shapes and flashing to music. Dress warmly because this event is outside – but if you get cold there are fire pits to keep you warm, as well as hot chocolate.
WHEN: November 21st, 2014 – January 3rd, 2015
COST: General Admission $14.00, Child (3 – 15) $11.00, Infant (2 & under) Free
WEBSITE: Calgary Zoo

Once Upon a Christmas at Heritage Park

Take a trip to Heritage Park to experience Christmas from years gone by.
You can enjoy a romantic wagon ride with a loved-one or sing Christmas carols with the kids. Other activities include gingerbread cookie decorating, a petting zoo and snow painting.
WHEN: Weekends from November 22nd – December 21st, 2014, 9:30 a.m. – 4 p.m.
COST: General gate admission (15 – 64) $10.25, Child (3 – 6) $5.00, Youth (7 – 14) $6.35, Senior (65+) $8.15.
WEBSITE: Heritage Park

Handel’s Messiah

Watch the Calgary Philharmonic Orchestra’s performance of Handel’s Messiah at the Jack Singer Concert Hall on Dec 12th and 13th. Or, join the crowd in a chorus of “Hallelujah” at the sing-along Messiah on the 14th.
WHEN: Dec 12th and 13th, 2014 / December 14th, 2014
COST: $25 – $90
WEBSITE: Calgary Philharmonic Orchestra

Lions’ Festival of Lights

The Festival of Lights is the largest free drive-by Christmas lights display in Calgary. Every year, volunteers help assemble over 105,000 LED lights in Confederation Park. The display draws over 55,000 visitors every day. It can be seen along 14th Street N.W., south of 24th Avenue.
WHEN: November 29th, 2014 – January 8th, 2015. 6 p.m. – Midnight
COST: Free
WEBSITE: Lions Festival of Lights

Country Christmas with George Canyon

Join Canadian country superstar George Canyon as he celebrates the Christmas season for just one night at the Jack Singer Concert Hall. According to the Calgary Philharmonic Orchestra, his special Christmas performance will features holiday favourites along with some of his biggest hits.
WHEN: Wednesday, December 17, 2014 at 7:30 p.m.
COST: $45 – $85
WEBSITE: Calgary Philharmonic Orchestra

Christmas at Spruce Meadows

Spruce Meadows uses a quarter of a million lights to blanket their entire facility. Hop in your car and drive the 2 kilometer route through the grounds to witness their spectacular display, which includes Tournament Lane, The Courtyard, Traffic Circle, the Nations Flag Park, Congress Hall, Riders Chapel and the Pond.
WHEN: December 5th to January 4th, every evening between 5-10 p.m.
COST: Free
WEBSITE: Spruce Meadows

The Nutcracker

A staple among numerous ballet companies, the Nutcracker tells the tale of Klara and her Nutcracker as they battle against the evil Rat Tsar and his army of mice, set to Tchaikovsky’s score.
WHEN: Dec 18th to Dec 24th, 2014.
COST: Adult: $29 – $116, Child (12 years and under): $20 – $116, Student / Senior : $29 – $116
WEBSITE: Alberta Ballet

 

A Christmas Carol

Watch Charles Dickens’ classic novel come to life at Theatre Calgary. The play tells the story of how bitter Ebenezer Scrooge learns to open his heart and embrace the spirit of Christmas.
WHEN: November 27th, 2014 – December 24th, 2014.
COST: $35.00 – $116.00
WEBSITE: Theatre Calgary

CP Holiday Train

The CP Holiday Train is North America’s longest rolling food bank fundraiser. Over the three weeks of the program, musicians play more than 150 concerts from a boxcar turned into a travelling stage. Performers this year include the Odds and Jim Cuddy.
WHEN: Dec 12th, 6 p.m. at the gravel parking lot on Horton Road behind the Brick and Schanks (9511 Horton Road S.W.)
COST: Free – but attendees are encouraged to bring either a non-perishable food item or cash donation for the Calgary Food Bank.
WEBSITE: Holiday Train

Outdoor skating

Celebrate the holidays with an outdoor skate! Hold hands to keep warm – and don’t forget your helmet.
WHEN: In Calgary, outdoor skating rinks are weather dependent but are typically open mid-December through February, except for Olympic Plaza which is a refrigerated ice surface and is generally open from mid-November to mid-March.
COST: City-maintained outdoor rinks are free to use and are flooded as needed during low usage hours.
WHERE: The following outdoor skating rinks are maintained by The City:
• Big Marlborough Park – opening mid December
• Bowness Park Lagoon – opening mid December
• Carburn Park – opening mid December
• Olympic Plaza – opening mid November
• Prairie Winds Park – opening mid December
• Prince’s Island Lagoon – opening mid December

BY MARIO TONEGUZZI, CALGARY HERALD

CALGARY – Calgary and Edmonton top the list of residential real estate investment markets in Alberta, according to a new report released Tuesday.

The new REIN (Real Estate Investment Network) Score measures each city or town on five different categories for a total of 50 points including: Economic Risk (possible 12 points); Yield Growth Potential (possible 12 points); Investors’ Insights (possible 10 points), Political Climate (possible 8 points), and Accessibility (possible 8 points).

Calgary and Edmonton topped the rankings with 50 points followed by Fort Saskatchewan (43), Airdrie (41), St. Albert (39), Red Deer (39), Lloydminster (38), Fort McMurray(36), Grande Prairie (36), and Leduc (34).

Melanie Reuter, director of research with REIN, said “the two most important criteria are the economic risk with a big focus on existing and future jobs and job growth, and the growth potential of yield. Will the going-rent rates mean your cashflow is good in relation to the house prices and is there potential for more and larger growth as the local economy improves?

“It is also important to take into consideration the political climate of a community and whether it has a solid growth plan, cashflow squashing taxes, and whether it has restrictive rental policies. If you can raise rents to match demand or your property taxes are expensive compared to other communities, your current and existing cashflow is compromised.”

Calgary received 12 out of 12 in the economic risk category, 10 out of 12 in yield growth potential, six of eight in local politics conducive to business, eight of eight in access to transportation and nine of 10 in investor’s insights.

The report said the formula of job creation creating an influx of people, leading to higher housing values is evident in Calgary.

“The market is hot! Real estate agents serving investors have noted that good inventory is very hard to come by,” said the report.

“The Calgary Real Estate Board believes that following a prolonged period of Calgary being a seller’s market, the city is once again beginning to move toward more balanced market conditions. Price gains will continue for every housing type, but at a more sustainable pace.”

According to CREB, as of Monday, year-to-date MLS sales in Calgary were 22,941, up 10.67 per cent from the same period a year ago. The median price has risen by 6.88 per cent to $427,500 while the average sale price has increased by 5.78 per cent to $483,115.

Canada’s Great East-West Migration, In One Chart
The Huffington Post Canada | By Daniel Tencer

The oilsands boom is reshaping Canada in many ways, and nowhere is this more obvious than where people are moving.

We’ve known for a long time that Canadians are flocking to Alberta for jobs, but a new chart from BMO shows just extreme the trend has become.

Atlantic Canada’s population is shrinking, while Alberta’s population growth is basically doubling the national average, BMO economist Benjamin Reitzes wrote in a client note Wednesday.

Reitzes found the trend is especially strong among working-age people (15 to 64), with Atlantic Canada losing more than one per cent of that group over the past year.

Those numbers put some context to all the news recently about that growing chasm in Canada’s economy: Alberta versus everyone else.

Take, for instance, Bloomberg’s projection that Alberta will overtake Quebec as the second-largest economy in Canada in some three years, despite having about half the population of Quebec.

Or the news that, in Canada’s moribund job market over the past year, Edmonton alone accounted for 40 per cent of job growth. Or this projection from BMO that Alberta could soon be building more new homes than all of Canada east of Ontario combined.

No wonder the country is headed to Alberta. We’ll get the old “last one out of the Maritimes turn out the lights” joke out of the way, and move right on to mentioning that this piling-into-Alberta trend may not last if oil prices keep sliding.

The International Energy Agency noted this week that about a quarter of new Canadian oil projects would be vulnerable if oil prices continued to decline.

And CIBC’s Benjamin Reitzes noted last week that investment in the oilsands — which have some of the highest production costs of any oil fields in the world — could drop off fast if oil prices fall below $80 U.S. Brent crude was trading at around $85 on Wednesday, down from around $115 earlier this year.

So if this bear market in oil prices continues, Alberta’s oil boom could come to a whimpering end. But for now, it’s far too early to call an end to the oil-driven economic miracle out west.

Calgary resale housing price growth highest in Canada

Sales in Canada’s resale housing market are approaching pre-recession highs seen in 2007, while rising prices in Calgary continue to outpace the nation – prompting an economist to warn the country’s hottest markets may be susceptible to a “shock.”

The Canadian Real Estate Association reported Monday that sales in August were up 1.8 per cent month over month, due to strong sales in major centres. It was the seventh consecutive month of growth for the country’s housing market.

“Although activity rose in fewer than half of all local housing markets in August, the national tally was fuelled by monthly sales increases in Greater Vancouver, Calgary and Greater Toronto,” said CREA.

Sales rose the most in Vancouver, up 10.3 per cent, at 2,820 units. Calgary sales were up 5.2 per cent, at 2,976 units. CREA’s data for Calgary includes the city’s surrounding areas.

Doug Porter, chief economist with BMO Capital Markets, said the overall level of sales in Canada is closing in on the pre-recession highs reached in 2007.

He said markets are balanced in most regions, but Alberta is an exception, “where sellers retain the upper hand over the ongoing tide of newcomers to the province.”

“Canada’s housing market remains healthy and well balanced overall, albeit with sizeable disparities across regions. The major potential flashpoint is that prices in the three hottest cities — Calgary, Toronto and Vancouver — are rising faster than family income, further straining affordability,” he said. “The continued rapid price gains in these cities will increase their vulnerability to a shock — whether economic, interest rate, or something else.

“The persistent strength in these cities is no doubt what prompted the Bank of Canada to stop talking about the inevitably of a soft landing for Canadian housing, and to suggest that the sector has been stronger than they expected. But we would reinforce the message that talk about the hot housing market is really only a three-city story.”

The CREA reported Monday that Calgary’s annual price growth of 9.83 per cent in the MLS Home Price Index was much steeper than the national aggregate of 5.33 per cent.

Gregory Klump, CREA’s chief economist, said listings and sales this spring were deferred due to unseasonably harsh weather, which subsequently supported activity once the delayed spring homebuying season got into gear.

“This trend was reinforced by a decline in mortgage interest rates,” he said.

“The boost from deferred sales is still expected to prove transitory. While national activity has yet to cool, sales were down from the previous month in the majority of Canada’s local markets, which may be early evidence that the transitory boost is fading. That said, low interest rates will continue to support housing affordability and sales activity.”

The national average price for homes sold in August was $398,618, up 5.3 per cent from the same month last year while the average in Calgary rose by 5.2 per cent to $454,994.

In Alberta, the average price rose by 4.2 per cent to $397,701 as sales were 3.8 per cent higher to 6,354 transactions.

A report by TD Economics said the obvious risk with a housing boom is that it may be fueled by unsustainable increases in debt. Despite rising housing activity, mortgage credit growth remains modest. This is largely a function of households paying back principal more aggressively than in the past, as well as moderation in home equity withdrawals, it said.

“There is, however, clear cause for caution. While households have moderated their credit growth, household debt remains near record highs,” wrote Brian DePratto, economist with TD Economics. “The ratio of household debt to disposable income reached 163.6 per cent in the second quarter, near the peak of 164.1 per cent seen in (third quarter of 2013).

“To sum up the current state of the housing market and household finances, it would appear that the party is still going, but households are nearing their limit. Real risks exist that bear close monitoring. Interest rates remain low, and their lure may prove too strong for households, fuelling a further acceleration in household debt. At the same time, net worth has been buoyed by gains in house prices, and a dramatic slowing, or even decline, in prices would have a damaging effect on net worth.”

The report said the housing party is likely to wind down in an orderly fashion. Rates can’t remain low forever, and TD expects a gradual rise as we approach 2015, leading to a natural deceleration in the demand for housing.

In an updated forecast also released Monday, CREA said sales nationally will reach 475,000 units in 2014, representing an annual increase of 3.8 per cent. Sales are expected to dip by 0.4 per cent in 2015 to 473,100 units.

CREA is forecasting Alberta sales to jump by 7.7 per cent to 71,200 transactions and 1.0 per cent to 71,900 units.

The average sale price in Alberta is forecast to rise by 5.0 per cent this year to $400,200 and by another 1.9 per cent next year to $408,000 while nationally the price will increase 5.9 per cent this year to $405,000 and by 0.7 per cent in 2015 to $407,900.

For the full article please visit http://www.calgaryherald.com/business/Calgary+resale+housing+price+growth+highest+Canada/10204823/story.html

© Copyright (c) The Calgary Herald

Vancouver, Toronto and Calgary among top five most livable cities in new ranking

LONDON — Reuters