Calgary's core office market could see vacancy increases that endure even after a recovery in oil prices

According to a new report from commercial real estate firm Cushman and Wakefield, the negative effects of the drop in oil prices could remain for up to a year after a rebound.

"Although the brunt of the declining oil price was felt in Q1 2015, it is expected that negative absorption will continue throughout 2015," said the report.

"Net rates will drop in the CBD (central business district), while the suburbs will be impacted to a lesser extent. History would suggest that we can expect tenants to begin taking back space once oil prices strengthen and the market regains confidence."

The City's annual Spring Clean-Up kicks off April 13.

While the official start of the clean-up is Monday, some sweepers have already hit the streets taking advantage off the fair weather. Winter sweeping, as it's known, allows crews to get a head start on cleaning the 15,000 lane kilometres of roadway in the city reducing he amount of material that can get washed into the sewer system.

CREBNow offers some tips on staying out of your condo board's doghouse

With the many rules and regulations accompanying a condo purchase, it can be difficult to know just what is and isn't allowed. Add an animal to the mix and even the most devout pet lover will have second thoughts about their furry friends.

In addition to city bylaws that govern owning an animal, condo boards often have their own regulations that need to be taken into account. With that in mind, CREB®Now has compiled some helpful tips on making the transition process as friendly – and legal – as possible, both for you and your pet.

Alberta registration changes are another story*

Canada Mortgage and Housing Corp. (CMHC) recently announced it would be implementing  higher premiums for borrowers who have less than a 10 per cent down payment.

The move means Canadians seeking a mortgage with a loan-to-value ratio of up to 95 per cent will see their premiums jump about 15 per cent from 3.15 to 3.6 per cent. For those with a loan-to-value ratio from 90.01 to 95 per cent, their premiums will climb from 3.35 to 3.85 per cent.

The Crown corporation's move, which takes effect June 1, has since been matched by private-sector insurer Genworth Canada. Canada Guaranty, the country's third main mortgage insurer, had not made an announcement as of press time.

Examining some of the innovative items used to market your home

Gone are the days when a humble lawn sign would be enough to let the world know your home was up for sale. Today's market, whether up or down, demands something more to get things moving.

With an eye on new technology, CREB®Now has gathered a list of technology designed to advertise your abode in the 21st century.

Off-leash parks provide freedom for pets and sometimes consternation for owners

Calgarian Alex Middleton and his four-legged companion Captain are familiar faces at the Britannia Slopes off-leash dog park, typically frequenting the southwest area of the city two to three times a day.

It's a home away from home for the pair – a fact not lost on Middleton.

"The reason I moved to Elbow Park was to be closer to Britannia Slopes," he said.

Middleton and Captain are not alone. When making a move from their condo, accessibility to off-leash areas was also a huge selling feature for Terri and LiShelle Trembath in purchasing a home in the northwest community of Hawkwood.

The Calgary Herald reported this morning the Calgary Flames have plans of a new arena project, which would not only house the Calgary Flames hockey team but include a football stadium and amateur sports fieldhouse as well.

On March 13, the CREBNow print edition reported some of the particulars that would be involved in the construction of a new arena in Calgary.

5 Things about Calgary's new arena:

Where will the Calgary Flames play?

While those in the know are still very hush-hush about the plans for Calgary's new hockey arena, including where it will be located, there are a few things we can say with some certainty about a potential new home for the Calgary Flames.

First quarter activity reflects economic uncertainty

Elevated inventory levels and low sales for three consecutive months caused unadjusted benchmark prices to ease by 0.44 per cent in March, relative to the previous month, for a total of $454,300. Based on first quarter statistics, conditions are consistent with buyers' market conditions.

Typical home prices have declined by 0.59 per cent in the first quarter of 2015, compared to the fourth quarter of 2014. The sales to new listings ratio also dropped to 41 per cent and months of supply averaged 4.03 for the quarter. This is a significant change from one year ago when the market was facing inventory shortages and price gains.

Save long-term pain by reading the fine print

Consumers taking advantage of low mortgage rates from banks and brokers may not realize  what they are truly getting – or in some cases what they're not getting.

Last week, Mortgage360 received three inquiries from homeowners whose respective mortgages went wrong with other brokers or banks. In all three cases, the homeowners had attempted to refinance their previous low-rate five-year fixed mortgages into new, lower-rate variable mortgages.