Great News for Airdrie Real Estate!

Airdrie - Annual sales high reached after only three quarters

CALGARY - Calgary’s residential real estate market has been described as hot this year.

But what Airdrie has experienced is simply sizzling.

After three quarters of the year, the small city north of Calgary has already set an annual record for MLS sales.

“l feel this whole year Airdrie’s housing market is like an exaggerated mirror to Calgary’s booming market due to its obviously better affordability,” said Shayna Nackoney-Skauge, a realtor with RE/MAX Rocky View Real Estate. “Buyers appreciate what their dollar can buy in Airdrie for a very small increase in driving distance if they need to commute to Calgary for work. Average home prices in Airdrie are steadily rising and I would still say our seller’s market is strong but for buyers Airdrie is still more affordable than Calgary.

“The market is August seemed to slow down slightly in activity but when inventory levels naturally increased in September the patiently-waiting buyers gobbled up the added inventory resulting in record sale levels. There is a very strong demand in Airdrie for homes priced under $450,000. Over that price point, homes are still selling but not as quickly and it’s a bit more competitive for sellers in the higher price points in Airdrie to attract the right buyer’s attention.”

According to realtor Mike Fotiou, associate broker with First Place Realty, total MLS sales in September in Airdrie reached 140 transactions, an all-time high for the month, and 26.13 per cent year-over-year hike.

The average MLS sale price in September was $393.209, an increase of 8.67 per cent from last year. In comparison, the average sale price in Calgary for the month was $487,300, which was up 7.3 per cent from a year ago.

Year-to-date until the end of September, said Fotiou, there have been 1,354 MLS sales in Airdrie, which has already surpassed the annual record of 1,327 established in 2007. Last year, there were 1,321 MLS transactions.

Year-to-date, Airdrie’s average MLS sale price is $386,962, up 8.98 per cent from last year, while Calgary’s average price has increased by 5.77 per cent to $482,701.

“Homes in Airdrie are a lot more affordable than Calgary,” said Fotiou. “Looking at an average priced home, many have decided to keep $100,000 in their pocket and just deal with a longer commute - and that’s assuming they work in Calgary. Airdrie continues to grow with more businesses and amenities, which means more jobs and opportunities for newcomers to the city.”

Don Campbell, senior analyst with the Real Estate Investment Network, said four years ago research by the organization discovered that the economic fundamentals were shifting to green-light positives for Airdrie.

“These economic fundamentals have really played out as expected and is now being reflected in housing market,” he said. “Access and affordability have been the initial drivers of these market records. The opening of and increased use of the Calgary Ring Road has opened up Airdrie as a place to live for people working in all sections of the city of Calgary - previously to this major transportation route being opened, Airdrie was really only an option for those working in North Calgary.

“Another driver of these record numbers is the amount of land made available to developers who were able to get ahead of the demand curve. As the major industrial and commercial projects surrounding, and including, the Calgary airport continue to grow and bring an economic focus to the northern part of the city we will witness even more demand on the Airdrie housing market over the coming years. Today’s record is just the start of a strong long-term trend.”

mtoneguzzi@calgaryherald.com

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(NC) Just as life changes over time, the terms of a mortgage may need to change too.

“It's important for homeowners to review their mortgage regularly to make sure it's still the best fit with their current and future financial goals,” says Nupi Zubair, associate vice president of retail products at TD Canada Trust. “Depending on the situation or stage of life, a homeowner may want to reassess how quickly the mortgage is paid down or the frequency and size of their payments.”

Zubair offers some simple strategies for homeowners who want to reduce the cost of their mortgage and pay it off faster:

1. Increase mortgage payments. This can significantly reduce interest costs as well as help you pay down a mortgage faster.

2. Choose weekly or bi-weekly rapid payment options. Like increased payments, more frequent payments also reduce interest costs and help pay off a mortgage faster.

3. Make lump sum payments. Consider putting any extra cash, such as a tax refund, towards a mortgage. Just keep in mind what your prepayment privilege amounts are.

4. Explore flexible options. If caught between wanting to pay off a mortgage as quickly as possible and worrying about cash flow, take advantage of options which allow you to pay more when possible and ease off in months when other expenses prevent large payments.

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For mor information Contact Lawrence Cuming Today

Condominium sector boosts Calgary resale housing activity Citywide year-over-year sales growth reaches double digits Calgary, October 1, 2014 – Calgary’s condo sectors continue to set the pace for the city’s residential resale housing market, which recorded 2,148 sales in September, nearly 12 per cent higher than the same period last year.

“September’s sales growth was stronger than expected, due largely to a surge in condominium apartment and townhouse sales,” said CREB® chief economist Ann-Marie Lurie, who credits Calgary’s strong economy and fewer options in the lower-priced single-family market behind the continued demand. For the fifth consecutive month, year-over-year condominium apartment sales growth outpaced growth in the single-family sector. Year-to-date condominium apartment sales totaled 3,819, a 21 per cent increase over last year. This compares with a seven per cent increase to 13,842 units in the single-family market over the same time frame.

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If you want more information on what your home is worth in todays market Give me a call!  

Lawrence Cuming

Calgary Top Producer

It’s time to clean your yard 

FIRST POSTED: MONDAY, SEPTEMBER 22, 2014 10:34 AM MDT

(NC)It might not be covered, so is your business at risk?

As a small business owner, you've likely poured so much of your heart and soul into your business that it almost seems like another member of your family. It's your livelihood, and it's your passion.

“Many people who work from home would receive some coverage from a standard home policy, but it's wise to make sure your business is fully protected,” says Ryan Michel, senior vice president and chief risk officer for Allstate Canada. “Having the right insurance coverage can be the key to your continued success, so you can keep focused on your business goals and not have to worry about whether or not you're fully protected.”

Here are some key things to consider when insuring your small business:

Property coverage: What if a fire damaged your business assets, tools and supplies? Some home insurance policies typically offer only limited coverage or in some cases, no coverage for business-related property.

Contents insurance: Some insurers cover up to a certain amount of home office equipment, but be aware that you may need additional coverage for certain items like computers.

Liability Coverage: No matter how careful you are, you may find yourself in a situation that could result in a lawsuit against you and your business. Make sure you have general liability insurance, which covers injury to clients or staff on the premises of your business. You'll also need professional liability to protect you against errors, omissions or negligence that may occur when performing professional services.

Business interruption insurance: If an incident results in the need to shut down your business temporarily, this insurance covers loss of earnings during that period. 

Employee coverage: Depending on the number of employees you have, as well as other factors, there may be additional insurance considerations to protect you in case a former employee files a groundless claim against your company.

Vehicle insurance: Do you use your car as a business vehicle? Are there additional drivers? That could affect your premium.

Critical illness insurance: This needs to be considered in case you (the owner) are diagnosed with a critical illness that affects your ability to run your business.

Data compromise insurance: You've implemented all the security measures you can to safeguard your data. This policy covers the legal and other costs that could arise in the event of a data breach.

In addition to the coverage described above, there may be even more business insurance options to consider. Allstate Canada recommends you speak with your insurance agent to help determine the best way to protect your small business and your home.

To assess your business insurance needs, speak to your insurance agent, or get more information online at www.allstate.ca.

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CONTACT LAWRENCE CUMING TODAY, YOUR CALGARY TOP PRODUCER!