Real estate veteran to take reins of member organization

The New Year will welcome a new president for CREB® and its 5,200-plus members as local real estate veteran David P. Brown takes the reins during what's expected to be a year of transition for the industry.

CREB®Now caught up with Brown to talk about everything from his financial background to what advice he has for prospective homebuyers.

Calgary's industrial sector showing signs of strain

Calgary's industrial market continues to hiccup along in a weakened economy as vacancy rates have risen over each of the last four quarters and are likely heading toward the bottom of the cycle, said a second-quarter market report by Cushman & Wakefield.

"One positive is that the amount of space under construction has been cut substantially; helping to prevent future jumps in the vacancy rate," read the report.

Breaking it down by the numbers

Earlier this year, CREB®Now published a feature on five things you needed to know about CREB®'s 2016 Economic Outlook & Regional Housing Market Forecast. With the REALTOR® organization recently updating the document, we revisit those insights on what's to come:

17,321

After originally forecasting 18,416 sales in 2016, CREB® is now predicting Calgary's activity to fall to 17,321, a 3.8 per cent drop from last year. By sector, revised estimated peg detached to decline by five per cent, while attached and apartment will be down by eight and 19 per cent, respectively. Meanwhile, CREB® chief economist Ann-Marie Lurie said the year began by favouring buyers, but is exhibiting more balanced conditions in areas such as the detached sector.

CREB® chief economist walks through often-overlooked housing statistics

Months of supply is a statistic that often gets lost in today's housing market, yet it is an important indicator of the relationship between supply and demand, says CREB® chief economist Ann-Marie Lurie.

"It gives us one indication of balance in the market," she said of months of supply, which is the amount of time it would take to sell current inventory.

"If the number is really high – so you have a higher level of months-of-supply – that essentially just means that there's more supply than demand in the market and it generally correlates with declining prices in the market.

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.

Sellers continue to adjust pricing expectations

Market imbalance in Calgary's residential resale housing market continued to weigh on citywide prices in April, according to CREB®.

In its monthly housing summary released today, the board reported that, much like the previous month, year-over-year sales fell while new listings increased, resulting in inventory gains across all sectors of the market.

As a result, benchmark prices in the city declined by 0.4 per cent from last month, and 3.4 per cent from last year, to $441,000.

For the full release, click here.

Facebook, Twitter and Instagram helping real estate businesses build their brands

When Sarah Johnston began using social media, she didn't do it to promote her real estate business.

"My entire life is dedicated to this 'job,' and I needed an outlet," she said.

Instead, Johnston took a relaxed approach, using Facebook, Twitter and Instagram to share about her life and interests — including her real estate adventures — and just be herself.

But she quickly discovered the power of the medium as she began amassing followers and having conversations online. Johnston connected easily with her target market (young professionals) on Facebook, Twitter and Instagram as well as other real estate professionals on LinkedIn.

Unemployment impacting housing activity

Home prices declined further in March as economic conditions weigh on Calgary's housing market, according to CREB®, which released its monthly housing summary today.

Calgary's benchmark price totaled $442,800 in March, a 0.49 per cent decline over February and 3.51 per cent lower than levels recorded last year.

"With no improvement in the labour market, it's no surprise that we continue to face downward pressure on housing sales activity and prices," said CREB® chief economist Ann- Marie Lurie.

What you should consider before listing your home

A smart seller knows that there is work to be done before listing a property. When you're up against a buyer's market, diligence is required in order to gain a competitive advantage. Curb appeal will translate value to potential buyers when they view your property.

Here are five things to consider before taking your property to market:

1. Take a look from the buyer's perspective

Give the house and yard (all things within the scope of property) an honest aesthetic assessment. Within the first few moments of viewing a property, a buyer has formed either a negative or positive biased.