Startup aims to improve accessibility for all Calgarians

A new company founded by a familiar face is developing a game plan on how to improve accessibility of all city-owned buildings.

Darby Lee Young sat on the City of Calgary's advisory committee on accessibility for nearly five years – more than two of those years as the chair – before launching, earlier this year, the universal design consulting company Level Playing Field.

The Calgary-based firm will be auditing about 1,000 city-owned structures, including the Municipal Building, to determine improvements that need to be made to make the facilities accessible to people of all abilities.

Tips on who is responsible and for what

The smoke continues to clear from the devastating wildfire in Fort McMurray, which, at one point, was estimated to be three times the size of Edmonton.

While it could still be weeks or even months before resident are able to return to the city, landlords and tenants will have questions before then. The Centre for Public Legal Education Alberta (CPLEA) is offering these five tips:

Calgary Economic Development's top boss promotes collaboration, innovation

On the heels of flooding, low oil prices and, now, raging wildfires, Calgary Economic Development's top boss admits it might be easy for people in the province to see the glass half empty.

Yet Mary Moran, as well as other community leaders, urged those people to keep current conditions in perspective before claiming the end is near.

"These are historically challenging times for both Calgary and Alberta's economy," said CED's president and CEO, who likened the province's current situation to a game of Whac-a-Mole. "It seems we barely finished covering up the scars of the flood of 2013 when our number-one energy customer became our number-one very intense competitor.

CMHC forecasts slowdown in new home construction

Calgary housing starts are forecast to decline for the second consecutive year in 2016, according to a new report.

In its semi-annual housing market outlook released today, Canada Mortgage and Housing Corp. (CMHC) noted reduced investments and layoffs in the energy industry due to low oil prices have spread and have impacted labour market conditions across many different industries. Elevated unemployment rates will slow down migration and income growth, while employment is expected to decline. As a result, housing demand will continue to deteriorate this year.

This, combined with a rise in inventory, will reduce the pace of new home construction. Total housing starts in 2016 will range between 8,400 and 9,400 units, down from 13,033 units in 2015.

CMHC expects renters to benefit from soft economic conditions

Rental vacancy rates in Calgary will rise to seven per cent by this fall, up from 5.3 per cent during the same time last year, according to Canada Mortgage and Housing Corp. (CMHC).

In its semi-annual housing market outlook released today, CMHC said two-bedroom rents are forecast to average $1,270 in October 2016, compared to $1,332 in October 2015.

"A rise in the purpose-built rental vacancy rate along will additional options in the secondary rental market will put downward pressure on rents this year," said the report. "Although incentives will continue to be offered, some landlords will also lower rents to attract tenants."

By the fall of 2017, CMHC expects the vacancy rate in the city to decline back to 5.5 per cent. The two-bedroom rent, meanwhile, is forecast to average $1,260.

CMHC report forecasts buyers' conditions will continue in 2016/17

Calgary housing prices will continue to decline in 2016, according to Canada Mortgage and Housing Corp. (CMHC), which predicts the average MLS® residential price in the city will range between $444,500 and $449,500, compared to $453,814 in 2015.

In its semi-annual housing market outlook, released today, CMHC also said it detected moderate evidence of overvaluation as house prices have not been fully supported by economic and demographic fundamentals.

In 2017, house prices in the resale market are anticipated to gradually stabilize as the market shifts to more balanced levels. Improvements in economic conditions and housing demand combined with less supply will help support home prices, said CMHC.

The MLS® average residential price in 2017 is forecast to range from $450,400 to $455,600.

Over the past five decades, Calgary's real estate industry has been bare to it all – from double-digit interest rates to densification. Starting today, CREB®Now will weave together an incredible narrative of how the local housing industry has evolved through the unique perspectives of CREB®'s 30 remaining past presidents.

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Change can be hard.

It can be messy.

It can be painful.

But it can also be necessary.

And with perspective, it can be the best thing that ever happens.

Household income strong when compared to housing prices, other cities

Calgary homebuyers will continue to fare well as the city's affordability index will likely outpace other major urban centres in the country for the rest of this year, say experts.

RBC Economics senior economist Robert Hogue attributes Calgary's affordability moving forward to continued high household incomes in the city – especially when compared to cities such as Vancouver, Toronto and Montreal

"It's not because house prices are so cheap. It's because it's the market in Canada where the income is the highest," he said. "We measure affordability as a percentage of household income."

First traditional hotel in town in 20 years 

The Town of Canmore has approved plans for a 124-room hotel and conference centre at Spring Creek.

Following a year of record-breaking tourism, the Malcolm Hotel will help address accommodation for the increasing number of visitors to the town.

Located in the heart of Canmore, it will be the first traditional hotel built in the town in 20 years.

Annual ROAR awards handed out to Calgary real estate profession

Five members of Calgary's real estate community walked away with top honours earlier this month as CREB® hosted its third annual ROAR (Recognizing our Accomplished REALTORS®) Awards at Telus Spark.

Hosted this year by Canadian comedian Gerry Dee, the coveted event was designed to celebrate the talent and accomplishments of Calgary and area real estate professionals in the areas of professionalism, excellence, dedication, mentorship and community involvement.

Julie-Ann Nasiri of CIR Realty walked away with People's REALTOR® honours. Of the five awards handed out during the evening, the People's REALTOR® is the only one where nominations originated from the public.