News
Calgary Real Estate News – An Unbiased look at Calgary’s Market
Calgary Homes Plummet $20,000 in 1 Month!
Real Estate in Calgary is booming!
Every time you open the newspaper or listen to the 6:00 news- you hear about how expensive Calgary Real Estate is getting- currently the median house is over $505,000.
In my opinion, the worst thing you can do as a buyer or seller, is get caught up in the media hype. While many of the statistics are right, the way they are presented can be very misleading.
I hear the same questions all the time- “is it a good time to sell, or buy, is the market going to crash or is it plateauing”?
So I make it a priority to my clients that they are well informed before buying or selling in this crazy Calgary market. I have worked in the Calgary Real Estate sector for the past 5 years in many different capacities (including and investor) , so I understand the market from more than what can be found on MLS.
I started my career as a Tax Assessor, then into Urban Development (planning at the City of Calgary). In the meantime I started investing in Real Estate, and decided I wanted to understanding the financing aspect- so I worked at a Fortune 500 company as an Investment Analyst for Commercial Real Estate.
I learned why some buyers are successful, while others ride the roller coaster of boom-bust cycles-> jumping from one get rich quick market to the next, only to find out they where 6 months too late and end up having to start all over.
To have a successful transaction, first and foremost, you need to understand the fundamentals of Real Estate- why prices go up/down and why. It really comes down to Supply and Demand, and which factors will have the greatest impact.
Factors like the Bank of Canada raising interest rates, increased GDP in Canada (specifically Alberta), low unemployment, oil and natural gas production and current prices, all have an effect on Calgary real estate. Then you start looking at Annual house income vs. median prices of houses, average rents (compared to the average price of a house).
Understanding where in a market cycle a city or town is will give you a good idea as to what your strategy should be (flipping fast vs. long holds).
My own opinion, the demand for houses has gone down over the past 6 months, so I expect to see prices correct (nice way of saying go down). With so many houses on the market (supply is high); and mortgage rates at all time lows- I still feel that it is as good a time to buy, provided you plan to hold for the long term (5 years). As you know anything can happen and nothing is certain.
When the media gets a hold of juicy statistics (the only way papers sell if these stats are alarming) – you will see the masses react.
The majority of my clients are First Time Home buyers and Investors, as I understand their needs the most:
My mortgage business comes to me by Referral and word of mouth. I don’t spend thousands of $$$ to advertise on bus stops, or send out direct mail- I focus on delivering the best service I can to my exclusive clients with zero risk. I only work with 2 clients at a time.
I focus my energy on earning your trust. I spend the time researching the markets and the trend for mortgage rates. So if you are looking to buy a home or start investing, fill out the form below and I can start helping you immediately. If you are looking for an experienced Mortgage Broker who has a private list of lenders, call my office 24 hrs a day to leave a message, and I will get back to you within 3 business hours.
My office # 1.800.931.7497 ext 333 or contact me by filling out the form above.
I focus on Helping you achieve your financial goals. The best way to do that is first find out what your goals are and then build a strategy on how we can arrive there. There is always more than 1 way to get to a specific place- and I make sure you have all your options first before making a final decision.
Thank you,
Shane Melanson
P.S Because I qualify my clients for mortgages so quickly, I only work with 2 clients at a time.
If you are looking to buy in Calgary make sure you have all the facts. Don’t rush into a purchase or sale. Take your time and get some educated opinions.
I don’t proclaim to know it all, that’s why I’m always talking to people involved and in the know in Calgary. If you have questions, please give me a call. I find that a 3-5 minute conversation can sometimes save you thousands of dollars.
Call my office at 1.800.931.7497 Ext 333 or fill out the form above and we can discuss how I can help you.