I have sold a property at 143 Masters HEIGHTS SE in Calgary.
FULLY DEVELOPED | OVER 60K SPENT ON LANDSCAPING | This home is absolutely pristine and every level is professionally developed. Incredibly quiet street with 2486 square feet of developed living space only minutes to the Wetlands in the award winning community of Mahogany. Enjoy unexpected living spaces & unique designs in this stylish home, which features seamless flow between rooms & a place for everyone to enjoy. A Greatroom features a cozy fireplace that provides plenty of space for the family & is the perfect place for your crew to relax. The dining area sits off to the side & has ample space for all your family gatherings. This home keeps its open concept, but is partitioned in a way that the main floor doesn't feel like all one room. Directly adjacent is access to your deck that's very private and perfectly situated to open up the an immaculately designed yard with a patio, pond, and pergola where a fire place could be added as this owner has . The Rear kitchen is stunning & features 10 foot ceilings, a centre island, modern grey cabinets, classy backsplash tile, gas range with stand alone hoodfan, and built in Microwave, walk in pantry and huge windows above the kitchen sink . Tucked just off the kitchen is a tech space that could also function as added kitchen storage or your very own cappuccino bar! Or use it for your computer area. Upstairs you are greeted by the oversized back entertainment room with vaulted ceiling that will make family movie nights a treat, with brand new Top Quality Karastan Carpet, that is also carried through the basement. . The Owners Suite takes up the entire front of the home and features a luxurious 4 piece ensuite with dual sinks, full sized shower & an oversized walk in closet. There are also 2 additional bedrooms, additional 4 piece bathroom, and an upper laundry room that will make wash day a breeze. This home features a LENNOX HEPA HIGH-EFFICIENCY AIR FILTRATION SYSTEM that has Hospital-grade filtration performance that is amazing for allergies and removing dirt, dust, and germs, and a UV light attached to the Cold air returns to be sure nothing is missed. To top it off a New Water Softener was recently installed. But that's not all!! A fully finished basement provides even more space and turns this home from a three bedroom home into a four bedroom home. A cozy rec room with a bar and beverage fridge provides a space to escape. The options are endless depending on your needs.!! A fourth bedroom with a Murphy bed, 3 piece bathroom with in floor Heating, and storage ensures you won't ever run out of space! Outside, is your beautifully designed yard with that provides ample space, and multiple sitting areas to enjoy those long summer evenings, Along with R/I for Irrigation. All this a short walk to the wetlands, playgrounds, shops & of course the main beach. A must see!!
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I have sold a property at 40024 306 AVENUE E in Rural Foothills County.
Here is a fabulous, big, country acreage done up just the way you have dreamed. 20 big, heavily treed acres, a big 2950 sq ft sprawling ranch bungalow, with a fully finished walk out basement and a triple car attached garage. A big total of 5500+ sq ft of developed space. Big out buildings- a newer 2400 sq ft shop and an older 1900sq ft quonset, both with concrete floors and heat. All through wonderful architectural gates and at the end of a paved, tree lined driveway. The homes immediate yard has been beautifully landscaped, a fabulous tiered composite deck with a pergola, bbq and dining areas and an integrated hot tub fill the west side enclave. Over some years the home has been completely transformed, back to the studs, all new exterior, hardie board, windows and doors, shingles, steps, deck, sky lights, parging etc. The interior upgrades are stunning; hard pine floors, tile floors, an absolutely incredible kitchen with top level stainless steel appliances, tons of alder cabinets to the ceilings, a huge island, a walk in pantry and gorgeous granite countertops, all new bathrooms, upgraded mechanicals (2011), water supply lines, all new doors casing and trim. This beautiful bungalow has a fabulous layout and feel, tons of windows and sky lights allow natural light to flood the entire home. From the front entrance, you pass the office and powder room and are invited into the massive family room space with a nice brick fireplace, a living room for more quaint get togethers, the entertainers dining room/kitchen spaces that open out to the deck. In the more private areas of the home, an enclosed breezeway/mud area joins the garage to the home, followed by an oversized laundry room, two generous bedrooms, a 4 piece and a 3piece bath, then the spacious primary retreat with a wonderful 5 piece ensuite and direct access to the deck and hot tub. The lower walk out level, has two more bedrooms with walk in closets a 4 piece bath, a theater room, a craft room and loads of open spaces for games room, he/she cave, a gym, your collections what ever you could need, two cold rooms and two mechanical rooms. The property is fully perimeter fenced, is cross fenced for some animals and has two wells. The newer shop (2012) has in-floor heat, floor drains, aluminum outside, full insulation and aluminum inside as well as epoxy finished concrete floors. This property is in catchment area for the Heritage Heights School- bus picks up at the end of the lane. Country acreages like this are very hard to find. This truly is a fabulous place!
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In this video I am talking about what things to do to increase the value of your home and if its worth it, dollar for dollar. Visit the my blog for all things Real Estate.
Chalsey Bugeaud- IRON REALTY- Remax iRealty Innovations
403-669-2083
chalsey@ironrealty.ca
Free Sellers/ Buyers Guide https://ironrealty.ca/registration.html
 
SHOW LESS
 
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I have listed a new property at 143 Masters HEIGHTS SE in Calgary.
FULLY DEVELOPED | OVER 60K SPENT ON LANDSCAPING | This home is absolutely pristine and every level is professionally developed. Incredibly quiet street with 2486 square feet of developed living space only minutes to the Wetlands in the award winning community of Mahogany. Enjoy unexpected living spaces & unique designs in this stylish home, which features seamless flow between rooms & a place for everyone to enjoy. A Greatroom features a cozy fireplace that provides plenty of space for the family & is the perfect place for your crew to relax. The dining area sits off to the side & has ample space for all your family gatherings. This home keeps its open concept, but is partitioned in a way that the main floor doesn't feel like all one room. Directly adjacent is access to your deck that's very private and perfectly situated to open up the an immaculately designed yard with a patio, pond, and pergola where a fire place could be added as this owner has . The Rear kitchen is stunning & features 10 foot ceilings, a centre island, modern grey cabinets, classy backsplash tile, gas range with stand alone hoodfan, and built in Microwave, walk in pantry and huge windows above the kitchen sink . Tucked just off the kitchen is a tech space that could also function as added kitchen storage or your very own cappuccino bar! Or use it for your computer area. Upstairs you are greeted by the oversized back entertainment room with vaulted ceiling that will make family movie nights a treat. The Owners Suite takes up the entire front of the home and features a luxurious 4 piece ensuite with dual sinks, full sized shower & an oversized walk in closet. There are also 2 additional bedrooms, additional 4 piece bathroom, and an upper laundry room that will make wash day a breeze. This home features a LENNOX HEPA HIGH-EFFICIENCY AIR FILTRATION SYSTEM that has Hospital-grade filtration performance that is amazing for allergies and removing dirt, dust, and germs, and a UV light attached to the Cold air returns to be sure nothing is missed. To top it off a New Water Softener was recently installed. But that's not all!! A fully finished basement provides even more space and turns this home from a three bedroom home into a four bedroom home. A cozy rec room with a bar and beverage fridge provides a space to escape. The options are endless depending on your needs.!! A fourth bedroom with a Murphy bed, 3 piece bathroom with in floor Heating, and storage ensures you won't ever run out of space! Outside, is your beautifully designed yard with that provides ample space, and multiple sitting areas to enjoy those long summer evenings, Along with R/I for Irrigation. All this a short walk to the wetlands, playgrounds, shops & of course the main beach. A must see!!
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A Return to ‘Normal’? The State of Real Estate in 2022



Last year was one for the real estate history books. The pandemic helped usher in a buying frenzy that led to a record number of home sales and a historically-high rate of appreciation, as prices soared by a national average of 19.9% year over year, according to the Canadian Real Estate Association.1


There were signs in the second quarter that the red-hot housing market was beginning to simmer down. In June, the pace of sales slowed while the average sales price dipped 5.5% below the springtime peak.2


But just when the market seemed to be cooling, home prices and sales volume ticked up again in the fall, leading the Royal Bank of Canada to speculate: “Canada’s housing market run has more in the tank.”3


So what’s ahead for the Canadian real estate market in 2022? Here’s where industry experts predict the market is headed in the coming year.


 

MORTGAGE RATES WILL CREEP UP


The Bank of Canada has signalled that it plans to begin raising interest rates in the “middle quarters” of this year.4 What does that mean for mortgage rates?


Expect higher variable mortgage rates to come. In fact, according to industry trade blog Canadian Mortgage Trends, some lenders have already begun raising their variable rates in preparation. And according to the site, “Current market forecasts show the Bank of Canada on track for seven quarter-point (25 bps) rate hikes by the end of 2023, with Scotiabank expecting eight rate hikes.”5

 

Since September, fixed mortgage rates—which follow the 5-year Bank of Canada bond yield—have also been climbing.5 Fortunately, economists believe the housing sector is well-positioned to absorb these higher interest rates.


Derek Holt, Scotiabank vice president and head of capital markets economics, told Canadian Mortgage Professional magazine in November, “The large increase in cash balances that occurred over the pandemic combined with the record-high amount of home equity on Canadian balance sheets, to me, paints a picture of a household sector that can manage the rate shock we’re likely to get.”4


What does it mean for you? Low mortgage rates can reduce your monthly payment, make it easier to qualify for a mortgage, and make homeownership more affordable. Fortunately, there’s still time to take advantage of historically-low rates. We’d be happy to connect you with a trusted lending professional in our network.



VOLUME OF SALES WILL DECREASE


A record number of homes were sold in Canada last year. The Canadian Real Estate Association estimates that 656,300 home purchases took place, which is an 18.8% increase over 2020.6 So it’s no surprise that the pace of sales would eventually slow.


The association predicts that, nationally, the number of home sales will fall by 12.1% in 2022, which would still make 2022 the second-best year on record.1


It attributes this relative slowdown to affordability challenges and a lack of inventory but expects sales volume to remain high by historical standards. “Limited supply and higher prices are expected to tap the brakes on activity in 2022 compared to 2021, although increased churn in resale markets resulting from the COVID-related shake-up to so many people’s lives may continue to boost activity above what was normal before COVID-19.”6


What does it mean for you? The frenzied market we experienced last year required a drop-everything commitment from many of our clients, so a slower pace of sales should be a welcome relief. However, buyers should still be prepared to compete for the best properties. We can help you craft a compelling offer without compromising your best interests.



THE MARKET WILL BECOME MORE BALANCED

 

In 2021, we experienced one of the most competitive real estate markets ever. Fears about the virus, a shift to remote work, and economic stimulus triggered a huge uptick in demand. At the same time, many existing homeowners delayed their plans to sell, and supply and labour shortages hindered new construction.

 

This led to an extreme market imbalance that benefitted sellers and frustrated buyers. According to Abhilasha Singh, an economist at Moody’s Analytics, “almost all indicators of housing market activity shot through the roof.” But, she continued, “The housing market is now showing signs of returning to earth.”7


The Royal Bank of Canada expects to see demand soften gradually as rising prices and interest rates push the cost of homeownership out of reach for many would-be buyers.3 And while the supply of available homes continues to remain low, according to Singh, “the pace of building in Canada remains elevated compared with historical averages thanks to low interest rates.”7

 

What does it mean for you? If you struggled to buy a home last year, there may be some relief on the horizon. Softening demand could make it easier to finally secure the home of your dreams. If you’re a seller, it’s still a great time to cash out your big equity gains! And with less competition and a slower pace of sales, you’ll have an easier time finding your next home. Reach out for a free consultation so we can discuss your specific needs and goals.


 

HOME PRICES LIKELY TO KEEP CLIMBING, BUT AT A SLOWER PACE

 

Nationwide, home prices rose an average of 19.9% in 2021. But the rate of appreciation is expected to slow down in 2022. The Canadian Real Estate Association forecasts that the national average home price will increase by 5.6% to $718,000 in 2022.6


Singh of Moody’s Analytics agrees that price growth will slow this year and could “reach a near standstill in late 2022 but avoid any significant contractions.”7


However, some experts caution against a “wait and see” mentality for buyers. “Affordability is unlikely to improve [this] year as prices should march higher, even as interest rates creep upwards as well,” Rishi Sondhi, an economist at TD Economics, told Reuters. “We think rate hikes will weigh on, but not upend, demand, as the macro backdrop should remain supportive for sales.”8


What does it mean for you? If you’re a buyer who has been waiting on the sidelines for home prices to drop, you may be out of luck. Even if home prices dip slightly (and most economists expect them to rise) any savings are likely to be offset by higher mortgage rates. The good news is that decreased competition means more choice and less likelihood of a bidding war. We can help you get the most for your money in today’s market.



WE’RE HERE TO GUIDE YOU


While national real estate numbers and predictions can provide a “big picture” outlook for the year, real estate is local. And as local market experts, we can guide you through the ins and outs of our market and the local issues that are likely to drive home values in your particular neighbourhood.


If you’re considering buying or selling a home in 2022, contact us now to schedule a free consultation. We’ll work with you to develop an action plan to meet your real estate goals this year.



Sources:

1.     Toronto Sun -
https://torontosun.com/life/homes/real-estate-market-on-track-to-break-records

2.     National Post -
https://nationalpost.com/life/homes/the-great-real-estate-cool-down-has-come

3.     Royal Bank of Canada -
https://thoughtleadership.rbc.com/canadas-housing-market-run-has-more-in-the-tank/

4.     Canadian Mortgage Professional Magazine -
https://www.mpamag.com/ca/mortgage-industry/industry-trends/how-likely-is-a-canada-housing-crash/315742

5.     Canadian Mortgage Trends -
https://www.canadianmortgagetrends.com/2021/11/fixed-rate-increases-costing-todays-homebuyers-over-10000-more-in-interest/

6.     Canadian Real Estate Association -
https://www.crea.ca/housing-market-stats/quarterly-forecasts/

7.     Moody's Analytics -
https://www.moodysanalytics.com/-/media/article/2021/10-canada-housing-market-outlook.pdf

8.     Reuters -
https://www.reuters.com/article/canada-property-poll-idCAKBN2IM06V

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All Abroad! What to Know About Retiring Overseas

Jessica Brown

For many people the idea of retirement means freedom to travel, or maybe even enjoy hobbies you’ve been putting off with your busy work schedule. For others, retirement comes with dreams of homeownership abroad. Have you dreamt of restoring a crumbling villa in the south of France? Or how about spending your days on the beach in the Caribbean? Rest assured; you’re not alone! The good news is, there are those who have already forged the way who can offer you advice.

Things to consider before making the move

Countries may place restrictions on foreigners owning property, which is why it’s always important to speak with a REALTOR® with experience working internationally, before settling on a dream destination. REALTORS® work hard to stay on top of industry regulations and designations, In addition, they have access to CREA Global, a global directory of resources, professional development, and exclusive networking opportunities with other REALTORS® from across the globe. You should also look into specific visa requirements and other documentation to make sure you have everything you need before purchasing a home. Otherwise, you may be stuck with payments on a property that you’re not able to live in.  

For example, terms and conditions vary from country to country in the EU and property ownership rules vary greatly between regions, including taxation of pensions and land transfer taxes. In France, you can expect to pay a 10% land transfer tax as a purchaser of any property. 

Thomas Watkins, a real estate professional in Turks and Caicos says 90% of the buyers in the territory are from North America. He says there are no restrictions on foreigners owning property in Turks and Caicos, no capital gains on property transfers, and no estate or inheritance taxes which are all big attractions to potential retirees. However, for Turks and Caicos, there’s a one-time Stamp Duty charge payable to the Turks and Caicos Islands government when you purchase your property. If you’re considering the powdery sand beaches of the Caribbean, says Watkins, it’s important to know properties are in high demand. 

“Many times, properties will be sold by the time buyers are able to make the trip!” he shares. Another reason to get a good REALTOR® before getting your heart set on your dream home!

As for financing your property abroad, several of Canada’s big banks offer overseas mortgages with a 20% down payment. Of course, cash is always king or there’s the possibility of a home equity line of credit, depending on what you currently own in Canada.

But, can you truly move full time to another country without losing your Canadian benefits? The short answer is no. You can stay six months abroad at one time before needing to come home to Canada to maintain your social insurance benefits, unless special circumstances apply. Living abroad can also affect how you file your taxes based on your residency status. It’s important to verify these things with the government before you make any permanent decisions to avoid future hiccups.

Advice from those who’ve done it already

In 2014, Will and Laila (who have asked to keep their real names private) fell in love with the Turks and Caicos during a trip to the Caribbean Island to enjoy the sunshine. It became a regular trip for the couple, who eventually got married there a few years later. Logically, the next step was to start looking for property because, as Will said, “it was the one place we knew we’d always want to go back to.”

When they started shopping in earnest, they asked around for a real estate broker and decided on one well known in the area. They purchased a condo unit within walking distance to the beach, knowing it would be an easy rental until they are ready to retire. 

“It’s important, if you’re doing it this way, that you’re prepared for unforeseen circumstances,” they warn. For them it was the pandemic and occasional repairs or tenants, but they still feel it’s all worthwhile.

“Our real estate broker lives just down the street and keeps an eye on things, that really helps,” they admit. “But it’s important to get to know the people around you so you can get things fixed when you aren’t there.”

It’s a sentiment echoed by Andrew Eddy, who moved to Provence, France 10 years ago. He bought a 17th century provincial farmhouse in various stages of disrepair and neglect. Eddy spent several years restoring it, and after a change in his personal circumstances, he followed his heart to Burgundy, having fallen in love with the area during his youth. His current project is restoring a 17th century Burgundian manor house.

“The first lesson, I would tell people dreaming of retiring in Europe, is to get to know the area you are moving to,” Eddy says. “Go for an extended holiday. Spend months there if you can. Save yourself a lot of money by being informed before you make the decision to buy.” 

The time you spend visiting the country is a good opportunity to decide what kind of property you’re looking for. A 300-year-old fixer-upper might be something you want to tackle at 55, but maybe not so much at 75. It’s important to know your limits and what you’re hoping to gain out of your retirement.

When it comes to retiring overseas, the idea can be extremely enticing. However, there’s more to it than just finding a home you love and packing your bags! Before making any big real estate decisions, it’s important to speak with a REALTOR® who can help you sell your current home and connect you with the right resources to make sure everything is done properly. 

The article above is for information purposes and is not financial advice or a substitute for financial counsel. 

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