More Info On Currie Barracks Re-development
Filed Under Calgary News, New Homes, Real Estate Videos, Video Blog · Tagged: Calgary Currie Barracks, currie, currie barracks estate homes, currie barracks redevelopment
Jared Chamberlain video blogs about the Currie Barracks and the changes that are coming. This is a follow up video to the last one regarding the Barracks as there were a number of inquiries on this project. You can get more info on this project here. If you would like to leave a comment or don’t care for Jared’s thoughts, please email him at jared@tcgroup.ca
Calgary Currie Barracks – Lots Up For Sale
Filed Under New Homes, Real Estate Videos, Video Blog · Tagged: Calgary Currie Barracks, curie barracks redevelopment, currie barracks estate homes
Jared Chamberlain video blogs about how the prized Calgary Currie Barracks is going to be redeveloped over the coming 10 years to be a urban upscale community. This is all starting with lots going up for sale this week. If you want to give a comment or don’t care for Jared’s thoughts, you can email him at Jared@tcgroup.ca.
**UPDATE** There is more info on the Currie Barracks with this newer blog post. Check It Out!
To Build or To Buy
Filed Under Buying, New Homes, Real Estate Videos, Video Blog · Tagged: build new home, build vs resale, buy home calgary, Calgary Show Homes, Sell Home Calgary, show home
Many times we have been asked the question is it better to build a new home or is it better to buy a resale home. To us it doesn’t make a huge difference as we are able to help you out in both situations. There are some things that you should consider before making your choice.
Vacant Condos Create Unease in Calgary Market
Filed Under Buying, Condos, Developers, Listings, New Homes, Selling, calgary condos · Tagged: Calgary Real Estate, Condominiums, condos in calgary, Developers, new condo, vacant condos
“Many buildings in Calgary began construction with less than 50 per cent of the units pre-sold,” said the Altus Group Economic Consulting report.
There are indicators of a “much more serious problem for Calgary,” said the Altus Group. Those indicators include a high level of condominium starts in 2008 (5,335 units) and a high level of condos under construction. The pace of condo starts has also declined “dramatically” since the end of July, but “very few projects in Calgary have been formally cancelled so far.”
The biggest cancellation was the two-tower downtown project known as Gateway Midtown.
“Excessive investor activity has also been a concern in Calgary,” said the Altus Group report. “While the percentage of condominium apartment units offered for rent declined in Calgary between 2007 and 2008, the vacancy rate rose significantly from 0.7 per cent to 3.5 per cent.”
The report said there is “clearly a large oversupply of product” in Calgary and “more project cancellations would help move the market back into balance more quickly.”
One of the reasons overbuilding tends to happen in a number of markets is due to the difference in construction times between single-family homes and condos, said Robert Feldgaier, senior director with Altus Group.
“With ground-related housing, it’s a lot easier to adjust construction to changing market conditions, whereas with the lead time for apartment construction and the actual time to build a building, depending on the market, there’s a significantly longer lag in adjusting to the market conditions,” said Feldgaier.
In Calgary, most of the projects that have been on the market have proceeded to construction even if they haven’t achieved even half of the units being sold, he said, adding “there’s not likely to be too many new projects starting this year.”
The lower level of multi-family starts in Calgary has been a trend since the middle part of last year, said Lai Sing Louie, senior market analyst in Calgary for Canada Mortgage and Housing Corp. The number of condos under construction hit a peak, and record, of 10,746 units in Calgary in May 2008, he said. Last month, that number had dropped to 7,351 units.
Louie said the percentage of condos absorbed, or moved into, at completion in January was 82.5 per cent. In September, the percentage was 100 per cent.
Also, in the resale market the CMHC tracks new and vacant listings. In January, 8.1 per cent of condos on the resale market were new and vacant. In November, it was 9.5 per cent, said Louie.
He said there were only nine condominium starts in January and for the City of Calgary there were zero apartment building permit applications for the month.
The Altus Group report said that with mortgage rates already near historic lows, unlike the last recession, “developers need to ensure that their product is priced appropriately since affordability will be key to attracting buyers.”
“Developers should look for opportunities to target younger owner-occupant buyers seeking attractively priced product as well as empty nesters in neighbourhoods where there may still be relatively few projects from which to choose,” said the report.
Click on Image above to view original source from The Calgary Herald
Map of Calgary Show Homes – January 2009
Filed Under New Homes · Tagged: calgary, calgary builders, calgary developers, calgary home builders, Calgary Real Estate, Calgary Real Estate Market, calgary realtor, Calgary Show Homes, Canadian Real Estate, map of showhomes in calgary, New Homes, real estate, show home, show home map, show homes, showhome map, spec homes, spec homes in calgary, speculation homes
Buying a brand new home can be a very exciting, as most likely you are getting exactly what you want, and not settling for a resale home with aspects you may or may not love. There is a giant myth out there that Real Estate Agents are not able to work with new home builders, but in fact, this is not true, especially in this current market where builders are needing the MLS to market their homes.
Some builders will do almost anything to have you sign on the line, and with some rep’s that sit in the show homes not be fully qualified to sell homes, you will want someone on your side who has your best interest in mind and fully qualified. We at the Chamberlain Group have had extensive experience with new homes and new home builders as we were apart of a development that sold 93 brand new condos where we did marketing and sales.
We have also had clients who wanted us to sit in on all meetings with the builder and even attend the meetings for picking out their flooring, lighting, cabinets etc. But then we have had clients that just want us to help them with all the paperwork and read over what the contract says to make sure that they are fully covered, as builders & developers use their own offer sheets that are drafted by their lawyers, and in most cases cover their ASSets before yours…
Whether you use us or not, it is very important to have a third party representative who has your interest and only yours as their number one priority.
On that note…
Below is a map of all the show home location in Calgary that was used in The Calgary Herald on January 3, 2009. If you have any questions about new homes, show homes, spec. homes etc. please contact us at sales@tcgroup.ca or 403-366-3130
Please Click On The Image To Enlarge It
