With no change in the economic climate, Calgary's sales activity totaled 1,272 units in September, a 13 per cent decline over the previous year and well below long-term averages. There was a pullback in sales across all product types, most notably the detached market. "Calgary's economy continues to struggle with unemployment, which rose again last month to over eight per cent. Concerns in t ...

I saw an ad saying a real estate professional will buy my house if it’s not sold in 90 days. Should I Be Wary? Wary might not be the best word, but you do need to make sure you understand the details of the offer. This type of offer is a guaranteed sales agreement, and while there is nothing illegal or wrong with a real estate company offering this kind of arrangement, it is rarely the bes ...

How a Mortgage Pre-Approval Works Pre-approval means that a lender has stated in writing that you qualify for a mortgage loan based on your current income and credit history. A pre-approval usually specifies a term, interest rate and mortgage amount. A pre-approval is typically valid for a brief period of time and usually has a number of conditions that must be met. Once you have your pre- ...

Economic conditions continue to weigh on housing Stricter lending criteria, higher rates and a slow economic recovery weighed on housing demand over the first half of 2018. This is causing sales to ease more than originally anticipated. "Easing sales combined with rising inventories has pushed the market into an oversupply situation for all products, affecting pricing for all products, whi ...

Enter Our ‘In My Backyard’ Contest and Win 1 of 4 Grants for $5,000 This September, CIR REALTY will be giving out four, $5,000 grants ($20,000 total) to local community projects and initiatives. All members of the public are encouraged to submit an entry where winners will be decided by public votes!The contest is open for entries starting September 4 and will run until October 5. Winners ...

Recent struggles in the job market, accompanied by yet another interest rate increase, is piling on to the decisions potential purchasers have to make in the housing market.  The month of July saw 1,547 units sold in Calgary, nearly five per cent below last year. New listings eased to 2,964 units, causing inventories to total 8,450 units. With more supply than demand, prices continued to edg ...

Alberta Economy has Recovered Two-Thirds of Recession Losses Alberta’s Finance Minister says the province’s economic picture is brightening with a lower-than-expected deficit last year thanks in part to higher resource revenues. The government’s 2017-18 annual report shows Alberta ended the fiscal year with an $8 billion deficit. That’s $2.5 billion lower than what was expected in last ye ...