Former CREB® president John Fraser recalled new sense of hope in 1990 after decade of challenges

A fresh start: that's how many viewed 1990, recalled then-CREB® president John Fraser.

"We had just come out of an extremely difficult period," he said, referencing a decade defined by the National Energy Program, soaring interest rates and growing unemployment in the province.

"In about the mid '80s, things started to improve. And by about 1990, if you can believe it, almost 10 years later, we were almost back to where we were in 1981 in terms of house prices."

Alberta's out-of-province playground still drawing buyers

Kelowna's healthy economy and population growth are driving resale home transactions up and fuelling higher levels of new home construction, suggesting a sellers' market, according to housing industry figures.

And the lure of the valley continues to draw buyers from Alberta despite the province's economic downturn.

The largest city in the Okanagan Valley of British Columbia, Kelowna has recorded nearly 3,600 sales for the first half of this year compared with slightly more than 2,700 a year ago, according to figures from Canada Mortgage and Housing Corp. (CMHC).

Seniors officials praise program designed to promote aging in place

Local seniors' housing officials are praising a new provincial government program designed to assist seniors who want to "age in place" in their homes rather than having to move.

The Seniors Home Adaptation and Repair Program (SHARP), approved earlier this month, offers low-interest, home-equity-based loans to seniors, which can be used for renovations or repairs to make a home more suitable for their needs.

Move-up homes driving construction activity, community development, say local housing officials

The head of Calgary's new home industry believes move-up products have become the go-to sector within Calgary's residential construction industry, and will be the backbone of new communities moving forward.

Allan Klassen, who is the newly minted chair of the Canadian Home Builders' Association - Urban Development Institute Calgary Region, said buyers' focus over the last several years has been increasingly focused on detached product priced over $500,000.

"It is the prominent driver in terms of overall growth of new construction," said Klassen, who is also senior vice-president of Calgary housing for Brookfield Residential, which is behind the mixed-use Seton development in the southeast and the recently announced Livingston community in the city's north.

Your chance to get involved in new local book

Calgary real estate professional Lori Olijnyk remembers a particular home home in Calgary's hot inner city: "It had a large 50-foot lot with a dilapidated picket fence that might have been white at one time. Rolls of chicken wire actually had a bird in it. [The] grass was overgrown and the walkway was crumbling."

In other words, it was a mess, and it failed the curb appeal test. The curb appeal was so bad it was hard to get prospective buyers out of the car and into the home.

"A bad first impression is difficult to overcome," said Olijnyk.

New-gen systems offer sophisticated safety

Randy Larkam sits at his desk in southeast Calgary looking at the sunny backyard of his vacation home in Arizona. The image on his computer screen is overlaid with several transparent tinted rectangles

As we watch, a caretaker enters the frame and checks the pool and surrounding patio.

"There she is," said Larkam. "Right on time, too."

The coloured areas on-screen show the motion detection fields of the cameras that monitor the yard. They can be adjusted in real time just by clicking and dragging.

This ain't your dad's burglar alarm.

Ownership model opening new doors for developers, businesses

Calgary's emerging office condo market remains hot this year, according to Barclay Street Real Estate.

The commercial real estate brokerage noted in a report earlier this month that development and sales activity in the local market has been robust thus far in 2016, which, "has led to a fertile market in which developers are diversifying their portfolios among different real estate assets such as office buildings, hotels, mixed-use retail and residential real estate by adding office condo buildings and professional centres to their holdings."

Weak net migration expected to impact Calgary's housing market

Population growth in Calgary will moderate moving forward and contribute to a decline in housing demand, according to a market brief issued earlier this month by Canada Mortgage and Housing Corp. (CMHC).

In the release, the national housing agency noted net migration is expected to remain relatively weak over the next two years, which will have a trickle-down effect on the local real estate market.

CREB®Now breaks down five things you need to know about how population will impact housing demand in Calgary this year and next.

Apartment sector creating dream scenario for renters, say experts

Calgary's buyers' market for an increasing inventory of apartment-style condos is also translating into one of the best renters' market in recent history, according to new statistics from Canada's housing agency.

And an already-rising supply of apartments for rent, due to the city's economic slump, is expected to jump even further this year.

The 30 per cent of apartment condos traditionally bought by investors to offer for rent will combine with new rental-only units being built to push Calgary's rental vacancy rate to seven per cent by this October, according to Canada Mortgage and Housing Corp. (CMHC).

Former CREB® president Kevin Clark recalls robust activity in 2006 created new set of challenges

To an outsider today, 2006 was an enviable year for real estate in Calgary. Nine to 10 offers on a house was commonplace, sales activity hit an all-time high with 26,975 transactions and prices skyrocketed year over year by more than 40 per cent to $336,408.

But for Kevin Clark, who was CREB® president that year, he doesn't long for those days.

Clark describes the market in 2006 as volatile. He recalls Calgary's housing industry that year as one overrun with inventory fluctuations that came with their own set of challenges.