Slowdown welcomed by new home industry

Local homebuilders and developers say they are heading into 2016 feeling positive after going through a year that brimmed with economic challenges.

"It's definitely been an interesting year," said Wendy Jabusch, president of the Canadian Home Builders' Association – Calgary Region and a vice-president with Brookfield Residential.

In particular, housing demand fell sharply in 2015 as the provincial economy sputtered through an oil patch slowdown that eventually led to pronounced job losses.

A look back at Calgary's resale residential housing market

If nothing else, 2015 was an interesting year for Calgary's housing market.

While it remained resilient even while oil prices began to slide, the conditions that arose as 2014 drew to a close signaled a change was in the air.

And so as Christmas came and went, December 2014 saw the first year-year-year sales decline following 11 consecutive months of year-over-year growth. And with little expectation that things would change, once-lofty expectations gave way to a more realistic outlook.

Setting the table for a perfect soirée

There is not a week more beautiful than the one before Christmas – despite the craziness of decorating the home, last-minute shopping, attending kid's concerts and, most importantly, planning holiday soirées.

The coming days will call for equal parts of cosy warmth, pops of posh, tasty appies and sparkling embellishments – whether to be hung on a tree or drank from a glass. All that sparkles matters at this time of year.

Try to keep it simple when planning your parties. You should enjoy preparing for it as much as being present at it.

John Harrop talks about what's in store for 2016

Affordable housing emerged as a pressing topic in Calgary this year, as housing prices, rents and vacancy rates challenged people's access to shelter. In fact, wanting to find a solution to the city's growing housing affordability is what drove John Harrop to his new role as president and CEO of Attainable Homes Calgary Corp.

CREB®Now had a chance to sit down with Harrop to discuss everything from the economy's impact on affordable housing to what goes into creating the perfect community. Here's what he had to say:

Change your world one carrot at a time



Back in 1912, it was illegal to buy locally grown carrots in Calgary. Instead, vegetables had to be imported from British Columbia, and they often arrived mouldy.

Annie Gale, a then 35-year-old immigrant took it upon herself to rebel against mouldy carrots. Eventually she became Calgary's first female alderman, later helping to change the law so we could all buy local food.

By 1914, she also helped start the Vacant Lots Garden Club so every new immigrant had access to land to grow his or her own food. One could say Gale helped change her world one carrot at a time.

Homebuyers still cautious in signing mandatory agreements

Get it in writing – that's now the industry standard governing the relationship between buyers and their real estate professionals.

Yet while buyer's agreements have been a regulatory requirement since July 1, 2015, many buyers are still taken aback when presented with what are considered to be legally binding contracts, and often reluctant to sign even though these agreements are beneficial for consumers and the industry alike, said Charles Stevenson, director of professional standards at the Real Estate Council of Alberta (RECA).

Life-changing event sparks local real estate professional into action

Mathew Said Morley's good deeds come from the heart. Literally.

Six years ago at the age of 26, the Calgary real estate professional had open heart surgery. Born with some heart issues, it wasn't his first surgery – and it may not be his last.

But this particular operation changed his outlook on life — in a beautiful way.

"It really made me think about how fragile life is, and how many people could use just a bit of extra help," he said. "It motivated me to get involved in the community in different ways."

Developing technology being used by Okotoks to reduce homes' carbon footprint

As the holiday season approaches and homes light up like Santa's workshop, energy costs will spiral to top of mind for budget-conscious homeowners.

"Certainly, energy efficiency is always on the radar, but even more so during this economy and at this time of year," said Dawn Smith, sustainability co-ordinator for the Town of Okotoks.

The good news is hope is on the way for homeowners who want to manage their energy costs thanks to ongoing research at the University of Calgary.

Feedback to follow homes' demolition

More than a dozen homes in Elbow Park that were damaged in the 2013 floods are now slated for demolition, prompting Municipal Affairs Minister Danielle Larivee and Calgary Mayor Naheed Nenshi to seek feedback from area residents on their vision for the community's long-term recovery.

Community members will have the opportunity to meet with the minister and mayor in January to help determine the short-term use of the properties sold to the province as part of the floodway relocation program.

Local housing industry experts say a change that governs the amount buyers are required to put down when purchasing a home will significantly impact Calgary's already sluggish market.

Effective Feb. 15, 2016, the change announced by the federal government in early December will raise the minimum down payment for new insured mortgages from five to 10 per cent on the portion of the house price above $500,000.

"The intent of [the change] is to pull back demand, and they're slowing demand in a market where we're already seeing demand slow," said CREB® chief economist Ann-Marie Lurie, noting resale residential sales in Calgary have already dropped nearly 20 per cent from the 10-year average.