There’s a lot of chatter on tv and online about it being a buyer’s market. But what does that really mean for today’s buyers and sellers? What is a buyer’s market? Simply put, a buyer’s market is when there are more homes for sale than there are buyers. We determine if the real estate market is balanced, in favour of buyers, or in favour of sellers by looking at the absorption rate – which shows us how many months the market could be sustained if no new houses were added to the inventory. Absorption rate is calculated by dividing the total number of sales in a given month by the number of listings available. In Calgary and its surrounding area, 2.0-4.0 months of inventory is considered to be balanced, while below that is considered to be a seller’s market. (In Red Deer, a balanced market is 2.5-4.0.) Absorption rates exceeding 4 months of inventory moves us into a buyer’s market - like we are seeing today. Is it a good time to buy? The “right” time to buy or sell ...
Declutter Your Garage In 7 Easy Steps
Has your garage turned into a junk drawer of sorts, filled with everything from holiday decorations to sporting equipment? Are you even able to fit your car in your garage anymore? If clutter has taken over your garage, it's time to get organized, reclaim that space, and return your vehicle to its long lost home. With a little help from a family member or friend and some self-motivation, you can declutter your garage in these easy steps. 1. REMOVE ALL THE CONTENTS. Clear the driveway and start bringing everything out. Sort items into piles of trash, donate and keep. If you know you will have a lot of junk, you need to think about how you will dispose of it in advance. Arrange for donated items to be dropped off or picked up. The goal is to keep what you need and access it quickly. 2. SWEEP, VACUUM, AND WASH. When the contents are empty, sweep out the garage or use a strong vacuum like a shop vac. If you come across any sticky areas, scrub and hose them down. Wait for everything ...
Hot or Cold: The Best Season When to Paint Your House
Fresh paint can absolutely transform the appearance of your home. But painting a house can be an expensive and arduous task. Forceful winds, humidity, and extreme temperatures can seriously influence the durability of the task. That’s why choosing the right time of the year is just as crucial as selecting the best house paint. There are a lot of factors that you need to consider before you start painting your home. Painting the interior and exterior of your house isn’t the kind of task that you can do at any time of the year. Make sure to choose the best time when you should start painting your house. Here’s a guide to help you determine when is the right time to paint the interior and exterior of your home. Painting the Exterior You might be still recovering from the freezing days in Canada, but preparing ahead of time and deciding on having a spring paint makeover will provide you a long-lasting house paint and save you time for the upcoming summer fun. If you’re thinking ...
Is it better to buy a new build or resale home?
When it comes to buying a home, there are unlimited options available on the market for you to choose from. One of the toughest decisions can be whether to buy a brand-new build or a resale home. While your budget is definitely important, there’s more to think about than just the cost. Here are some things to consider when deciding to buy new or resale: Location Where you want to live may play a big role in choosing a new or resale home depending on what is on the market in your preferred location. What part of the city do you want to live in? Do you want to be close to family or friends, or a particular school or church? Is public transit important to you? Most established communities (with parks, trees, amenities, etc.) are generally comprised of resale homes - but not always. And while it can be exciting to buy into a brand new community, keep in mind that you could be dealing with construction for a long time and it may take years for local amenities to be built. Move-in ...
A Motion Light That Cycles On And Off All Night. Why Is This Happening?
If you have a motion light that continuously turns on and off, it may be caused by heat or light being reflected from other objects. If it is windy outside, leaves or other objects may be blown across the motion path of the sensor. The solution to this problem is to reposition the reflecting lamp heads away from the sensor. If the sensing dial is set to high, decrease the setting or reposition the motion sensor. -Postma Electrical SPECIAL OFFER: Free quotes & 10% Off the total bill before tax. ...
Will I pass the mortgage stress test?
Now if you’re getting, renewing, or refinancing a mortgage, you will likely have to pass a financial “stress test” set by the federal government. This proves to your lender that you would be able to make your mortgage payments down the road, even if interest rates go up. The stress test qualifying rate is the greater of your contractual mortgage rate plus two percent or the Bank of Canada’s five-year benchmark rate. What does this mean for your mortgage? If you're buying a home, you will have to qualify at a higher rate, which might mean you can't borrow as much. Or if you’re renewing your mortgage, you may have to stay with your current lender (since the stress test doesn't apply to those renewing with their current lender) rather than shopping around for better rates. Since the stress test might affect how much you qualify for, you may need to look at less expensive houses - but your Realtor will be able to help you find an amazing home within your budget. The upside is ...
3 REASONS WHY SWITCHING TO VINTAGE LED BULBS IS A LIGHT BULB IDEA
Vintage Edison (filament) bulbs have been revered for their “enduring style” – for a reason. These date back to the original incandescent bulb commercialized by Thomas Edison (fun fact: not invented by!) in the 1800’s. It is not uncommon that when we discuss vintage filament bulbs, we receive a “deer-in-the-headlights” response. Rephrased to “the hipster lights at the coffee shops and restaurants” and we can actually see the light bulbs go off in their expressions (sorry for the early pun). What this illustrates is how popular and mainstream these vintage looking Edison bulbs are when it comes to decorating with lights. We can’t get enough of the warm, romantic glow emitted by these beauties and neither can the rest of the world. They’ve been a staple in restaurant, coffee shop, hotel and boutique shop décor (to name a few) for ages and it is easy to understand why! SO, WHAT’S THE BIG DEAL WITH OUR LED EDDIE BULB COLLECTION THEN? Well, since you asked, vintage is great and ...
Are my condo fees too high?
When purchasing a condo, knowing what your condo fees are and what they include is extremely important. While low monthly payments are appealing, you should probably be wary of buying into a condo corporation with very low condo fees. Why do I have to pay condo fees? Your condo corporation is responsible for setting an annual operating and maintenance budget and your condo fees fund these expenses. The fees collected from you are to cover costs for your own unit, as well as a portion of your complex’s shared space. This means your condo fees will likely be higher if your unit is larger (you might pay more than your neighbor depending on unit factors), and if your complex has amenities like an elevator, underground parking, pool, fitness centre, party room, etc., your fees will be higher to maintain these as well. If your building is older, more money may be needed for regular maintenance and repairs – just like a homeowner would need to spend more to maintain an older ...
MAY GIVEAWAYs… Enter today!
Each month we will have a NEW giveaway to help improve the life you live in your home and you have a chance to ENTER each month to WIN!! Calgary, AB | ENTER TODAY by visiting cirrealty.ca or cirrealty.ca/contest CENTRAL ALBERTA | ENTER TODAY by visiting cirrealty.ca or cirrealty.ca/cacontest Contest Rules: The draw is done on the last day of the month. You must go back to the contest website, and re enter every month to win that month's prize. This means that if you enter every month, you have more than 1 chance at winning! You can not enter in advance for future months. CIR Realtors are not eligible to win. You must be a resident of Alberta and over 18 to win. ...
Should I get a home inspection on a new home build?
Most buyers don’t think twice about getting a home inspection for an older home, but is a home inspection really needed for a brand new or new-ish build? The thought of saving money can be extremely enticing, but most home inspectors and Realtors would advise you to get one for your own protection. Waiving your right to a home inspection could have costly implications down the road with little opportunity for recourse. When buying a new build or newer resale home, many buyers rely on the reputation of the home builder alone - but there are a lot of hands involved in the construction process. These companies hire many contractors to do the work for them – and during especially busy economic times when the labour force is tight, we often see an increase in issues or deficiencies in new builds. What protections do I have? For homes built after February 1, 2014, the Alberta Government has mandated the following new home warranty standards for all new residential builds: 1 ...
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