Report notes mortgage lending rule changes could spell trouble for city's housing market

Recent changes by the federal government to mortgage lending rules will likely serve as headwinds for the city's recovering real estate market in the coming year, said CREB® in its 2017 Economic Outlook and Regional Housing Forecast.

Since 2008, the federal government has been tightening mortgage lending rules.

After a tough year for the 'other half' of Calgary's real estate market, the city's apartment/attached segments are expected to see gradual turnaround in 2017

Lower prices and added choices created buyers' conditions in Calgary's attached and apartment sectors in 2016. But a slow recovery is expected in 2017, bringing both sectors into better balance, says CREB®'s 2017 Economic Outlook & Regional Housing Market Forecast.

The degree to which they'll the "other half" will get there will differ, however. While the attached sector is set to post positive overall numbers, apartment sales and prices will be moderated by persistently high inventory levels.

More Canadian homes are abandoning conventional TV services

If you're the New Year's resolution-making type — and more than half of us are, statistically speaking — it's likely that better financial decision-making is one of your goals for 2017.

You're not alone; spending less money was one of the top three resolutions in a survey done earlier this month by the Statistic Brain Research Institute in the U.S.

So it follows that you'd be interested in saving anywhere from around $50 to $100-plus a month by making a simple change that would have virtually no impact on your quality of life, right?

Greenwich community in northwest Calgary to put live/work/play into practice

Calgary's "new" northwest will have a familiar face touting a popular concept starting
this year.

Industry veteran Melcor Development has announced pre-sales for its new community of Greenwich will start this March. The 16-hectare live/work/play development to be located just off Highway 1 toward Banff will see a mix of residential, retail and commercial offerings.

Calgary's industrial market shows signs of turning the corner

While Calgary's downtown office sector and its plunging vacancy rates overshadowed all commercial real estate activity in 2016, the city's industrial market has better weathered the storm and is poised to grow in 2017, say experts.

According to Barclay Street Real Estate, vacancy for the industrial real estate sector finished 2016 at 7.76 per cent. It had peaked at 7.8 per cent in the third quarter of the year. In 2015, it was 6.57 per cent.

"Absorption was a negative 127,373 square feet for Q3. This was the only quarter of negative absorption we have had since the '90s," said Jon Mook, executive vice-president of Barclay Street Real Estate's industrial division.

Real estate officials expect conditions to support turnaround in downtrodden commercial market

Calgary's commercial real estate market is showing signs it is finally moving on from tough economic conditions that sent vacancy rates soaring and rents plummeting over the past two years, say officials.

''There is a sense in the market that the worst is behind us and that conditions will gradually improve," said Joe Binfet, managing director/broker of Colliers International in Calgary.

Real estate veteran to take reins of member organization

The New Year will welcome a new president for CREB® and its 5,200-plus members as local real estate veteran David P. Brown takes the reins during what's expected to be a year of transition for the industry.

CREB®Now caught up with Brown to talk about everything from his financial background to what advice he has for prospective homebuyers.

Housing experts predict Calgary's rental market to see another year of high vacancies, low rents

Calgary's rental housing market this year will not change much from 2016 as historically high vacancy rates will continue to usher in incentives and lower rents, say experts.

"We expect the vacancy rate to remain close to 2016 levels" said Richard Cho, Calgary-based principal market analyst for Canada Mortgage and Housing Corp. (CMHC).

Surrounding housing market to follow Calgary's lead in 2017 after challenging conditions in 2016

Slow stabilization in Calgary's housing market in 2017 is expected to create similar momentum for satellite communities such as Okotoks, Cochrane, Airdrie and Chestermere, say local officials on the heels of CREB® releasing its 2017 Economic Outlook & Regional Housing Market Forecast.

According to the report, Chestermere in Rocky View region experienced a widening gap between sales and new listings during 2016, putting downward pressure on benchmark prices – notably detached homes, which dropped 2.5 per cent from 2015 to $490,808.

Key to a green thumb is keeping it simple

So you think gardening takes a ton of time and money? Think again. If you have a day, you can grow a sprout. In a week, you can grow a micro-green. In a month, you can grow a radish.

And at this time of year, in this climate, the growing all happens indoors – no special lab or greenhouse required.

The good news is gardening is not as intense as waitressing or nursing. There is no mid-day rush or late-night call button. The right mindset to be a gardener is to keep it simple. Put the seed and soil together, add a bit of water and the magic begins all on its own.

I seeded a flat of basil last week because I was craving fresh flavour in my salads. A "flat" is a plastic tray that can be used again and again as long as it is washed between uses. It is a standard non-metric size of 11 inches by 21 inches with drainage holes.