Unemployment impacting housing activity

Home prices declined further in March as economic conditions weigh on Calgary's housing market, according to CREB®, which released its monthly housing summary today.

Calgary's benchmark price totaled $442,800 in March, a 0.49 per cent decline over February and 3.51 per cent lower than levels recorded last year.

"With no improvement in the labour market, it's no surprise that we continue to face downward pressure on housing sales activity and prices," said CREB® chief economist Ann- Marie Lurie.

Tips heading into patio season

Spring has sprung, meaning the handyman in your family is likely itching to tackle that outdoor project that's been nagging at him or her for months.

With patio season in sight, here are five tips from the City of Calgary's Planning and Development department before tackling your spring reno project:

Backyard decks
Before you start, the City suggests determining whether you're building a pergola or roof structure that is attached to your house. If it's an extension to the house, it's considered an addition, in which case you will need to apply for a building permit. For uncovered decks that are not located on the same facade as a basement walkout entry, the maximum height is 1.5 metres in a developed area. In both the developed and developing areas, the height of a deck cannot exceed 0.3 metres above the main floor level of a house.

Move comes after SWBRT confrontations

The City of Calgary has launched a new online tool to give citizens and stakeholders an opportunity to have a dialogue on City projects.

This comes less than a month since the City ceased face-to-face consultations following allegations that staff members were verbally and physically assaulted during community consultations for the Calgary Southwest BRT.

"This is a new way for Calgarians to learn about and provide input on City projects," said Cindy Pickett, director of customer service and communications for the City.

Stability fears have no support, says Fortress

According to a new report from Fortress Real Developments, some "hot button" threats to housing market stability in Canada — including foreign investors, mortgage fraud and over leveraged buyers — have "no comprehensive statistical support."

"No government agency or private entity publishes data on international homebuyers or their source of funds," said Ben Myers, senior vice-president of market research and analytics at Fortress, and author of the report.

"It is impossible to fully assess the impact of foreign buyers, inappropriate mortgage activity or the extent to which Canadians are responsible borrowers based on the currently available data. With the limited information out there, and our own survey research, we feel the fears of a major house price correction are overblown."

Laneway homes could soon turn Calgary's back alleys into thriving mini-communities

Paul and Jill Robert have big plans for the little home they're building on their back lane.

Only the dwelling isn't for them. The Roberts already live in the wartime house in the northwest neighbourhood of West Hillhurst on the same lot where Paul, a professor at the Alberta College of Art and Design, grew up.

Instead, the diminutive back-lane house is for Jill's parents who are selling their home in Edmonton and moving to Calgary to be closer to family.

Where will Calgary's newest hot spot emerge?

People are always on the lookout for the next big thing, and that search extends to the world of real estate.

When it comes to reading the proverbial crystal ball as to which community will emerge as Calgary's next inner-city hot spot, the author of the blog The Everyday Tourist, Richard White, suggests one look north.

"The northwest inner-city communities are becoming much more urban and desirable," says White, explaining the growth of these communities has coincided with the relatively recent expansion of facilities like the Alberta Children's Hospital, the Foothills Medical Centre, SAIT and the University of Calgary campus.

Dual-master homes occupy important niche in Calgary market

Dual-master homes aren't a new phenomenon in the Calgary market, but they have long been popular among a growing cross-section of homebuyers whose needs cannot be met by a standard three-bedroom layout.

According to Wendy Jabusch, president of the Canadian Home Builders' Association-Calgary region, Calgary homebuilders have been building dual-master suites for roughly a decade, primarily in smaller home offerings.

"They would typically be in the small single-family homes, townhomes and that kind of thing," Jabusch said. "Certainly, in the apartment product, we've seen dual-master bedrooms for many years."

Foothills Home Lottery to give away $2.4-million home in Mahogany

Imagine living on a secluded island without ever needing to leave Calgary.

This will soon be the reality for one lucky homeowner.

This year's Foothills Hospital Home Lottery grand prize is a 5,890-square-foot custom-built estate home located in the southeast gated community of Mahogany Island valued at $2.4 million.

What you should consider before listing your home

A smart seller knows that there is work to be done before listing a property. When you're up against a buyer's market, diligence is required in order to gain a competitive advantage. Curb appeal will translate value to potential buyers when they view your property.

Here are five things to consider before taking your property to market:

1. Take a look from the buyer's perspective

Give the house and yard (all things within the scope of property) an honest aesthetic assessment. Within the first few moments of viewing a property, a buyer has formed either a negative or positive biased.

Properties in arrears up for grabs

The City of Calgary is hoping the prospect of having their home offered up to the highest bidder is enough to encourage a few Calgarians to catch up on their taxes.

Each year properties with more than three years outstanding tax arrears are offered for sale by the City of Calgary. Owners are notified a year in advance of the sale in hopes the owners will make an effort to catch up on any outstanding balance.

Currently, the list of properties stands at four pages, with properties deleted from the list as the outstanding taxes are paid.