Wait and see for better rates*

Early mortgage renewal notices may seem sincere, but they often have less to do with saving homeowners money and more to do with banks heading off their competition.

In fact, convincing mortgage holders to renew early is not a new tactic. Yet banks are using it more frequently today given the competitive market.

The process is simple yet deceiving. A bank representative will contact the mortgage holder with a special limited-time renewal offer to protect them from rate increases.

Still plenty of activity coming to Calgary's commercial sector

Dueling industry reports are challenging expectations of how active Calgary's commercial market will be this year in wake of ongoing energy sector uncertainty.

Commercial real estate firm Cushman & Wakefield indicated in a recent study that Calgary's development cycle has "come to an end." It noted in the first quarter, the downtown office market alone experienced negative absorption of 1.2 million square feet, the largest quarterly decline in the city's history.

Calgary corner store a staple to Bridgeland community, more

Community Cornerstones series: A look at Calgary and area's rich history of both new and old corner stores.

Little did Jim Lukes know when he opened a drug mart on the corner of First Avenue and Fourth Street N.E. in Bridgeland, it would grow to span three generations and change with the community around it.

"The store was started in 1951 by my grandfather Jim Lukes. My dad (Bob) took over in about 1985 and I've been running it probably about six or seven years," said Gareth Lukes, calling from Vancouver where Lukes has just opened its fourth location (the other two are in Killarney and Renfrew).

Decreases to Alberta's education budget causing further concern for Calgary parents

Candice Collins is no stranger to long commutes. Growing up in the northeast community of Rundle, she had to navigate the city's public transit system for hours each day to attend William Abrehart High School in city's northwest, her designated French-immersion school.

Now in her 30s, Collins is worried her five-year-old son may face the same fate in getting to school.
"[I'm concerned] he's going to wind up with a super long commute. Because in order to find the programs and the atmosphere that I want, we might have to move around," she said.

"I have quite a few people who have told me they have to take their kid great distances every day. Maybe their elementary school is close, but then their junior high isn't close and their high school might be even farther."

A local REALTOR has spearheaded fundraising efforts for nine Calgarians whose four homes were affected by a two-alarm fire Monday night.

The fire broke out around 5 p.m. on April 20.

"When the fire happened, people in the community started phoning me," said CIR's Robyn Moser.

Slower economic activity influenced demand across the region in the first quarter of 2015. However, despite rising inventory levels, housing prices in Calgary's surrounding areas remained relatively stable, said CREB®'s latest Surrounding Area Quarterly report.

"A lack of recovery in oil has many concerned about their employment status and these concerns have been impacting consumer confidence in the first quarter," said CREB® chief economist Ann-Marie Lurie. "However, on aggregate, surrounding area prices have posted some quarterly growth as some of these areas have not recorded the same level of pull-back in sales relative to inventory levels."

Home inspections help keep tabs on fluidity of building codes

Despite the continued popularity of reality shows that showcase the positive side of home renovations, buyers need to be ever aware of the damage that can be done when things don't go according to plan, says a local home inspector.

While the temptation to plunge into home ownership might be strong, CanPro Inspections Ltd. owner/operator Larry Pineda urges buyers to practise due diligence when purchasing a home to protect themselves against shoddy workmanship or even work done prior to changing standards – some of which may have taken place years or even decades prior.

Increased selection for attached, apartment homes in March

Proving that selection is sometimes the best sales pitch, attached and apartment listings increased year-over-year in March from a combined 1,272 to 1,360, according to CREB®.

The increase comes as combined sales decreased by 28 per cent during the month, from 975 last year to 700 units this year.

Coupled with the fact benchmark prices in the attached apartment sector have softened more than in other sectors – dropping by 1.46 per cent compared to a 0.4 per cent decline in the detached and attached sectors – the increased selection offers prospective buyers an attractive combination.

Making the decision between sticks or stones in the garden 

It started with a query from Ken.

"Donna, if I recall, you are not a fan of using cloth under stones in a walk to prevent weeds from coming up amongst the stones. I laid down some cloth, but must have bought a factory defect where they accidentally embedded grass seed in the cloth. Less than a week after I put the cloth down, grass was coming up. I am thinking of using a soil sterilizer."

Charles Cochrane is CEO of Cochrane Developments Corp. (CDC), most recently behind the Meadows Mile Professional Centre overlooking Deerfoot Meadows.

Cochrane took some time to chat with CREB®Now about the state of Calgary's economy, hot spots for commercial developers and what he thinks is the city's best kept secret.

CN: What's new with CDC - Calgary?

CC: CDC is developing two lots on the Meadows Mile development. First, CDC is developing the Meadows Mile Professional Centre on Lot One.