Yearly update on the local and national housing markets

Canada Mortgage and Housing Corp. (CMHC) has issued its outlook on the local and national housing markets. Detailing several factors impacting Canada's housing market -- both new and resale - CMHC's numbers provide a basis for what to expect heading into the remainder of 2015 into 2016 and beyond.

To help provide a little more understanding, CREB®Now digs a little deeper into CMHC's Outlook.

Expected to open 200 units across Western Canada

Calgary-based Mainstreet Equity Corp., which specializes in mid-market apartment building in Western Canada, announced Wednesday that it will allocate at least 200 apartment units to house Syrian refugees expected to come to the country this year and next.

The apartments will reportedly be located in Calgary, Edmonton, Lethbridge, Saskatoon, Surrey, B.C., Abbotsford, B.C., and New Westminster, B.C.

Details of how many apartments will be allocated in Calgary were not yet available.

The Calgary real estate community mourned the loss of Calgary MLA Manmeet Bhullar Tuesday.

"The Calgary Real Estate Board (CREB®) is very saddened by the sudden passing of MLA Manmeet Bhullar," the member organization said in a posting on its website. "Mr. Bhullar was a great friend to Alberta REALTORS® and a strong advocate for the average Albertan. During his time as Minister of Service Alberta, he took an important leadership role in initiating reforms to the Condominium Property Amendment Act for the betterment of the organized real estate industry and the home-buying public.

"Mr. Bhullar will remembered for his humour, passion, intellect and, above all, his dedication to public service. He will be greatly missed by all those who had the privilege of meeting and working with him. CREB® extends its condolences to Mr. Bhullar's family, friends and colleagues."

Furniture should speak to your soul

Selecting your furniture is an exciting-but-challenging task in which scale, colour, style and function are all considered.

Yet don't just fill your space; fulfill your space.

Both should feed your soul; it should seduce you into wanting to stay in that room forever, engaging your emotions with serenity, comfort and sensibility. This will happen when you consider the perimeters of your space; appropriately scaled furniture, whether a casual or formal lifestyle, can make or break a lovely design.

Proper planning avoids nightmare situation for heirs

What are Canadians, particularly the massive Baby Boomer generation, going to do with increasingly valuable real estate?

According to a new CIBC poll, many of them will be leaving assets, including recreational properties, to heirs in their wills.

And while it may be done with good intentions, Jamie Golombek, managing director of tax and estate planning for the bank's Wealth Advisory Services, says without proper planning, that real estate could end up on the housing market, as those heirs sell properties to deal with all sorts of tax issues.

FCC, U of C join forces to support community development

A new agreement between the Federation of Calgary Communities and University of Calgary aims to offer students real-world urban-planning experience, valuable data for community planners and some certainty for homeowners.

The agreement with the university's Faculty of Environmental Design (EVDS) formalizes ongoing efforts to get students into the field, aiding community associations in conducting research, consulting residents and coming up with planning documents to guide future growth and redevelopment.

"This partnership is really critical from the point of view of having access to experience and skills (community associations) wouldn't otherwise have access to," said FCC president Leslie Evans, whose federation has some 150 member associations.

By the numbers

Deciphering all the information coming out of Calgary's housing market can be difficult at the best of times. And with the number of homes changing hands under more scrutiny than ever, it's a good time to dig a little deeper.

CREB®Now takes a look at five figures surrounding Calgary's housing market.

$7.9 billion
Through the first 10 months of 2015, the total value of Calgary homes sold in the city sits at 7.9 billion. While still a staggering figure, the number is already $3 billion shy of the value of homes sold through the first 10 months last year, a drop of 39.2 per cent.

Citizen engagement front and centre of new initiatives

What is your vision for your community in the next 20 years?

The City of Calgary recently asked this question to a group of nearly 40 Dover residents; the general consensus was a community that is safe, quiet and fun for kids.

Based on this feedback, City representatives will return to the southeast community later this month to present a list of small-scale improvement projects that can be completed within a year. Community members will get to prioritize the projects.

Sharing economy proving controversial in Calgary and beyond

Share and share alike: for better or worse, it might be Calgary's new unofficial slogan.

Whether it's a home, room, or even a parking spot, Calgarians are proving to be big believers in divvying up their assets, with the controversial Uber car-sharing app and several other share-based service-providers gaining footholds in the local market.

Yet despite offering revenue-generating opportunities, services like AirBnB and Uber, also present some risks to providers, warn legal experts.

Organizations chosen for work in enhancement, shelter and care

Choosing from a record 47 nominations, CREB®'s Charitable Foundation recently handed out $150,000 to 15 local non-profit organizations as part of the annual Investing in Hope awards.

This year's awards – which highlighted work in community enhancement, shelter and care – saw more than 3,095 votes cast, with the top five charities in each category being recognized.

"We had a lot of amazing organizations to choose from and we are honoured to have representatives from the charities here today to celebrate with us," said Charitable Foundation co-ordinator Aneve MacKay-Lyons.