Friday, 17 May 2013

Calgary and area stats updates

May 1 - 16, 2013
                                                                  2013                      2012
City of Calgary

Total Sales                                               1,340                      1,244
New Listings                                            2,115                      2,123
Active Listings (Inventory)                      4,791                     5,679
Median Price                                      $403,500                $388,750
Average Price                                     $460,084               $447,378
Sales to New Listings Ratio                   63.36%                  58.60%
Sales Price to Listings Price Ratio         97.94%                 97.50%
Total Sales at or above List Price                218                       154
Total Sales at List Price                                 78                         56
Avg. amount paid over list price            $7,061                   $7,075
Max. amount paid over list price         $150,000                $53,000

City of Calgary - Single Family
Total Sales                                                    912                       897
New Listings                                              1,511                   1,477
Active Listings (Inventory)                        3,345                   3,748
Median Price                                        $459,950              $431,000
Average Price                                       $520,923              $505,903
Sales to New Listings Ratio                    60.36%                60.73%
Sales Price to Listings Price Ratio          98.01%                 97.50%
Total Sales at or above List Price                 158                       125
Total Sales at List Price                                  50                         43
Avg. amount paid over list price             $8,559                   $7,769
Max. amount paid over list price         $150,000                 $53,000

City of Calgary - Condo Apartment
Total Sales                                                    230                        197
New Listings                                                358                         373
Active Listings (Inventory)                          919                      1,246
Median Price                                        $275,750                $250,100
Average Price                                       $322,552                $273,674
Sales to New Listings Ratio                      64.25%                 52.82%
Sales Price to Listings Price Ratio            97.48%                 96.93%
Total Sales at or above List Price                     25                         13
Total Sales at List Price                                    16                           5
Avg. amount paid over list price               $1,904                   $2,230
Max. amount paid over list price             $13,100                   $7,800

City of Calgary - Condo Townhouse
Total Sales                                                      198                        150
New Listings                                                   245                        273
Active Listings (Inventory)                             527                        685
Median Price                                          $308,250               $281,250
Average Price                                        $339,618                $325,529
Sales to New Listings Ratio                       80.82%                 54.95%

CAT WHO SWALLOWED THE CANARY


Wednesday, 8 May 2013

How Mortgage Rates are Set By Idriss Bouhmouch

How mortgage rates are set
AdviceMay 7, 2013
By Idriss Bouhmouch

It’s easy to say that mortgage rates are “affected by economic factors,” or more specifically “bond yields” or “the Bank of Canada”, but are you really getting an understanding with those answers? If so, you may understand economics better than most Canadians. But if the responses above present more questions than answers, we will try our best to break it down for you here.
First off, there are two types of mortgage rates: variable and fixed. Both are indeed driven by similar economic factors, but they are affected by different factors too.
Variable mortgage rates, as they sound, vary and fluctuate with what is known as the prime lending rate. This rate is set by the Bank of Canada based on its interpretation of the state of the economy and inflation targets. When the prime rate goes up, variable mortgage rates go up, and vice versa. This is why variable mortgage holders take on a bit more risk over the term of their mortgage and should watch the Bank of Canada announcements.
Fixed mortgage rates, where the interest rate is fixed over the course of the mortgage term, are a little more complicated – they shadow Government of Canada bond yields of the same term. In fact, there is a very positive correlation between the two.
Bond yields are determined by the price of bonds and have an inverse relationship with them. For example, if a five-year bond falls in price, this means the yield (return for investors) goes up. Similarly, if the price increases, the yield falls.
Bonds are like safe havens for investors: they offer guaranteed repayment on funds the investor loans to the issuer (in this case, the government) after the term of the bond has passed (plus a set rate of interest known as the coupon). When the economy is booming and the market is good, big returns can be had by investing in alternatives, and bond prices tend to fall so bond yields rise. When the market is bad, demand for safe money increases, so bond prices rise and yields fall.
Meanwhile, mortgages are funded through capital issues and often the bond market. The interest rate on a mortgage depends on the yield (return) the bank provides bond investors. When investors demand a higher yield, mortgages must also be issued at a higher fixed interest rate that is in line with the cost to the bank. The cost of borrowing for the bank to fund mortgages is essentially the percentage yield paid to investors of the bond.
The second factor influencing fixed mortgage rates will be the spread required by financial institutions, on top of the bond yields. Three main components influence this spread: the cost of trades and transactions of the loan, a risk premium (in the case of default payment) and finally the profit margin that the financial institution desires.
We could summarize that for the duration of a loan, fixed mortgage rates are determined on the following basis: cost of capital + administration costs and/or mortgage negotiations + risk premium (in the risk of the borrower defaulting on the mortgage) + the bank’s desired profit = cost of the mortgage for the borrower.
In short, if you are trying to predict where fixed mortgage rates are headed, look to the bond market.
Overwhelmed?
This is a lot to take in, and it may not all make sense right away. But the introduction of these concepts hopefully provides a little more insight and trust in the mortgage process. As with all financial transactions, mortgages are driven by supply and demand, and underlying economic factors.
Idriss Bouhmouch is director of operations in Quebec for Ratehub.ca, a mortgage rate comparison website. The company says mortgage information should be presented in a transparent, easy-to-understand, and complete manner.

Monday, 6 May 2013

SINGLE FAMILY PRICES REACH A NEW HIGH

CALGARY REGIONAL HOUSING MARKET STATISTICS4.13
SINGLE FAMILY PRICES REACH A NEW HIGH

Sellers' market conditions push up prices across all categories
CREB

Calgary, May 1, 2013 –The benchmark price of single-
family homes reached a new high of $452,900 in April, as
market conditions that favour the seller finally drove prices
above the unadjusted peak in 2007.

“It’s really encouraging to see that the Calgary market
remains strong,” said Becky Walters, CREB® President. “It’s
reassuring to both buyers and sellers to see that this area
is outperforming many parts of the country.”

Single-family sales totaled 1,611 in April, nearly two per cent
higher than the previous year, but year-to-date figures are
similar to levels recorded in 2012. Sales growth in the first
part of the year was stifled by a shortage of new listings
and inventory. However, the year-over-year increase in
new listings of 5.4 per cent helped support sales growth in
April.

“Declining selection in the lower price range and market
conditions that favour the seller in the overall single-family
market has resulted in a boost in demand in the
condominium market and surrounding towns,” said CREB®
Chief Economist Ann-Marie Lurie. “Inventory levels
declined across all of these segments. However,
surrounding towns remain in balanced territory, as they
experienced the effect of previously elevated inventory
levels.”

After the first four months of the year, condominium
apartment sales totalled 1,259 units, an 11 per cent increase
over the previous year. Sales growth outpaced the
number of new listings, causing inventory levels to decline
to 871 units. This pushed the market into sellers’ territory.

Wednesday, 1 May 2013

CREB Residential Stats - April 2013

http://www.creb.com/public/documents/statistics/2013/package/res-stats-2013_April.pdf

2013 REAL Trends Canadian 250 Ranking by Transaction Ends

2013 REAL Trends Canadian 250 Ranking by Transaction Ends

Check out #17

RANK Company City Province

1  Sutton Group - West Coast Realty  Vancouver  BC
2  RE/MAX Realtron Realty Inc.  Markham  ON
3  Royal LePage Real Estate Services Ltd.  Toronto  ON
4  RE/MAX Real Estate  Edmonton  AB
5  Royal LePage Your Community Realty  Richmond Hill  ON
6  Right At Home Realty Inc. Brokerage  Toronto  ON
7  RE/MAX Twin City Realty Inc.  Kitchener  ON
8  RE/MAX Real Estate Centre Inc.  Cambridge  ON
9  Royal LePage Team Realty & Royal LePage Gale Real Estate  Ottawa  ON
10  Royal LePage ProAlliance Realty, Brokerage  Belleville  ON
11  RE/MAX Escarpment Realty Inc.  Hamilton  ON
12  RE/MAX Hallmark Realty Ltd.  Toronto  ON
13  Royal Pacific Realty Group  Vancouver  BC
14  RE/MAX Metro Realty  Vancouver  BC
15  RE/MAX Crest Realty  North Vancouver  BC
16  Royal LePage Niagara Real Estate Centre / Four Seasons Real Estate Centre  St. Catharines  ON
17  CIR Realty  Calgary  AB
18  RE/MAX Real Estate (Central)  Calgary  AB
19  RE/MAX Saskatoon   Saskatoon  SK
20  Royal LePage Performance Realty  Ottawa  ON
21  Royal LePage RCR Realty & Royal LePage York North Realty  Orangeville  ON
22  RE/MAX Realty Specialists Inc.  Mississauga  ON
23  Royal LePage Atlantic - NS  Halifax  NS
24  Keller Williams Ottawa Realty  Ottawa  ON
25  Royal LePage State Realty  Stoney Creek  ON
26  RE/MAX 2000 Realty   Surrey  BC
27  Macdonald Realty Ltd.   Vancouver  BC
28  RE/MAX House of Real Estate  Calgary  AB
29  RE/MAX Royal (Jordan) Inc.  Beaconsfield  QC
30  RE/MAX Metro-City Realty Ltd.  Ottawa  ON
31  Royal LePage Foothills  Calgary  AB
32  Homelife Landmark Realty Inc.  Markham  ON
33  RE/MAX West Realty Inc.  Toronto  ON
34  RE/MAX Du Cartier Inc.  Montreal  QC
35  RE/MAX Preferred Realty Ltd.  Windsor  ON
36  Coldwell Banker Terrequity Realty, Brokerage  Toronto                         ON
37  RE/MAX Garden City Realty Inc.  St. Catharines  ON
38  RE/MAX Alliance Inc.  Montreal  QC
39  RE/MAX 1er Choix Inc.  Québec  QC
40  Royal LePage Triland Realty  London  ON
41  RE/MAX Nyda Realty  Chilliwack  BC
42  RE/MAX Select Properties  Vancouver  BC
43  Royal LePage Noralta Real Estate Inc.  Edmonton  AB
44  RE/MAX Performance Realty  Winnipeg  MB
45  Prudential Sussex Realty  North Vancouver  BC
46  RE/MAX Camosun  Victoria  BC
47  RE/MAX Realty Professionals  Calgary  AB
48  RE/MAX Platine  Brossard  QC
49  RE/MAX Professionals  Winnipeg  MB
50  RE/MAX Real Estate (Mountain View)  Calgary  AB
51  RE/MAX Chay Realty Inc.  Barrie  ON
52  RE/MAX Executives Realty  Winnipeg  MB
53  RE/MAX Crown Real Estate   Regina  SK
54  RE/MAX Des Mille-Iles Inc.  Terrebonne  QC
55  RE/MAX Elite  Edmonton  AB
56  CENTURY 21 Dome Realty Inc.  Regina  SK
57  RE/MAX Accès  Ste-Foy  QC
58  RE/MAX Premier Inc.  Vaughan  ON
59  RE/MAX T.M.S. Y.D., Real Estate Agency  Sainte Thérèse  QC
60  RE/MAX Kelowna  Kelowna  BC
61  RE/MAX 2000 Inc.  Laval-Des-Rapides  QC
62  RE/MAX D'Abord Inc.  Sherbrooke  QC
63  Better Homes And Gardens Real Estate Signature Service  Mississauga  ON
64  RE/MAX Aboutowne Realty Corp  Oakville  ON
65  RE/MAX Signature Inc.  Boucherville  QC
66  Pemberton Holmes Ltd.  Victoria  BC
67  Royal LePage Dynamic Real Estate  Winnipeg  MB
68  RE/MAX Crown Realty (1989) Inc.  Sudbury  ON
69  RE/MAX de Francheville Inc.  Trois Rivières  QC
70  RE/MAX Vision (1990) Inc.  Gatineau  QC
71  RE/MAX Realty Services Inc.  Brampton  ON
72  RE/MAX 2000 Realty Inc.  Toronto  ON
73  CENTURY 21 B.J. Roth Realty Ltd.  Barrie  ON
74  RE/MAX Landan Real Estate  Calgary  AB
75  RE/MAX Grande Prairie   Grande Prairie  AB
76  CENTURY 21 First Canadian Corp.  London  ON
77  RE/MAX Eastern Realty Inc.  Peterborough  ON
78  RE/MAX Rouge River Realty Ltd.  Toronto  ON
79  RE/MAX River City  Edmonton  AB
80  RE/MAX Advantage  Sherwood Park  AB
81  RE/MAX Little Oak Realty  Abbotsford  BC
82  CENTURY 21 Fusion  Saskatoon  SK
83  Realty Executives Polaris  Edmonton  AB
84  RE/MAX Centre City Realty Inc.  London  ON
85  RLK Realty Ltd. O/A Royal LePage Kelowna  Kelowna  BC
85  RE/MAX 2001 Inc.  Laval  QC
87  Royal LePage Meadowtowne Realty  Mississauga  ON
88  Sutton Group - Select Realty Inc.  London  ON
89  RE/MAX of Nanaimo  Nanaimo  BC
90  RE/MAX Avantages Inc.  Charny  QC
91  RE/MAX Crossroads Realty Inc.  Toronto  ON
92  RE/MAX First  Calgary  AB
93  RE/MAX Professionnel Inc.  Granby  QC
94  RE/MAX Action Realty (1991) Inc.  Fort St. John  BC
95  RE/MAX All-Stars Realty Inc.  Markham  ON
96  Royal LePage Coronation West Realty  Coquitlam  BC
97  RE/MAX Professionals Inc.  Toronto  ON
98  Keller Williams Energy Real Estate  Whitby  ON
99  Coldwell Banker Case Realty, Brokerage  Toronto  ON
100  RE/MAX Imagine Inc.  Longueuil  QC
101  CENTURY 21 Bamber Realty Ltd.  Calgary  AB
102  CENTURY 21 People's Choice Realty  Toronto  ON
103  RE/MAX Référence 2000  Québec  QC
104  RE/MAX First Realty Ltd.  Pickering  ON
105  RE/MAX Jazz Inc.  Oshawa  ON
106  RE/MAX Real Estate  St. Albert  AB
107  RE/MAX Real Estate Central Alberta  Red Deer  AB
108  RE/MAX Fortin Delage Inc.  Ste-Foy  QC
109  RE/MAX Excellence  Edmonton  AB
110  RE/MAX Ultimate Realty Inc.  Toronto  ON
111  RE/MAX Condos Plus Corporation  Toronto  ON
112  Royal LePage Wolstencroft Realty  Langley  BC
113  RE/MAX Performance Realty Inc.  Mississauga  ON
114  Royal LePage Solutions  Calgary  AB
114  RE/MAX Avant Tout Inc.  Rimouski  QC
116  RE/MAX Realty Concepts Corp.  Kingston  ON
117  RE/MAX Vernon  Vernon  BC
118  RE/MAX Quinte Ltd.  Belleville  ON
119  RE/MAX Capitale  Québec  QC
120  Maxwell Canyon Creek  Calgary  AB
121  Coldwell Banker Horizon Realty  Kelowna  BC
122  RE/MAX Centre City Realty  Prince George  BC
123  Royal LePage Coast Capital Realty  Victoria  BC
124  EXIT Realty Advantage  Fredericton  NB
125  RE/MAX Ability Real Estate Ltd.  Courtice  ON
126  EXIT Realty Metro  Halifax  NS
127  EXIT Realty on the Rock  St. John's  NL
128  RE/MAX Lifestyles Realty  Maple Ridge  BC
129  RE/MAX Nova  Halifax  NS
130  RE/MAX Sarnia Realty Inc.  Sarnia  ON
131  Keller Williams Realty   Bedford  NS
132  RE/MAX Realty Specialists Ltd.  St. John's  NF
133  Coldwell Banker Sarazen Realty, Brokerage  Ottawa  ON
134  RE/MAX Professionals Saint John Inc.  Saint John  NB
135  Keller Williams Advantage Realty  Toronto  ON
136  RE/MAX Ocean Pacific Realty  Comox  BC
137  EXIT Realty Associates  Moncton  NB
138  RE/MAX Colonial Pacific Realty  White Rock  BC
139  RE/MAX Vision Realty Inc.  Toronto  ON
140  RE/MAX Solid Gold Realty (II) Ltd.  Waterloo  ON
141  RE/MAX Real Estate Services  Vancouver  BC
142  Royal LePage Coronation Park  Surrey  BC
143  Royal LePage True North Realty  Fort McMurray  AB
144  Sutton Group - Quantum Realty Inc.  Mississauga  ON
145  RE/MAX North Country Realty Inc.  Huntsville  ON
146  RE/MAX Fort McMurray  Fort McMurray  AB
147  RE/MAX Realty One Inc.  Mississauga  ON
148  RE/MAX Realty Enterprises Inc.  Mississauga  ON
149  RE/MAX United Inc.  Mount Pearl  NF
150  RE/MAX Group Four Realty Ltd.  Fredericton  NB
151  RE/MAX Real Estate Centre  Edmonton  AB
152  RE/MAX Niagara Realty Ltd.  Niagara Falls  ON
153  RE/MAX Real Estate-Lethbridge  Lethbridge  AB
154  RE/MAX Legacy Realty Inc.  Mississauga  ON
155  RE/MAX All Points Realty Group  Coquitlam  BC
156  Royal LePage Grand Valley Realty  Cambridge  ON
157  RE/MAX Du Haut Richelieu Inc.  St. Jean  QC
158  RE/MAX Performance Inc.  Saint-Lambert  QC
159  Keller Williams VIP Realty  Ottawa  ON
160  Realty Executives Challenge  Edmonton  AB
161  Coldwell Banker R.M.R. Real Estate, Brokerage  Oshawa                          ON
162  RE/MAX Harmonie Inc.  Montreal  QC
163  Coldwell Banker Peter Benninger Realty, Brokerage  Kitchener                       ON
164  Keller Williams Golden Triangle Realty  Kitchener  ON
165  RE/MAX Georgian Bay Realty Ltd.  Midland  ON
166  RE/MAX Associates  Winnipeg  MB
167  RE/MAX Pembroke Realty Ltd.  Pembroke  ON
168  RE/MAX iRealty Innovations  Canmore  AB
169  Keller Williams Elite Realty  Port Coquitlam  BC
170  RE/MAX Affiliates Realty Ltd.  Ottawa  ON
171  Coldwell Banker First Ottawa Realty, Brokerage  Ottawa  ON
172  Coldwell Banker Preferred Real Estate  Winnipeg                        MB
173  Coldwell Banker Momentum Realty, Brokerage  St. Catharines                   ON
174  Royal LePage In The Comox Valley  Courtenay  BC
175  Sutton Group - Central Realty Inc.  Brampton  ON
176  Royal LePage Estate Realty  Toronto  ON
177  RE/MAX Grey Bruce Realty Inc.  Owen Sound  ON
178  Coldwell Banker Parker Realty  Charlottetown                   PE
179  RE/MAX Immo-Contact P.F. Inc.  Duvernay Laval  QC
180  Keller Williams Realty  Toronto  ON
181  RE/MAX Performance Realty  Delta  BC
182  RE/MAX De L'Avenir Inc.  St. Jerome  QC
183  Coldwell Banker Pinnacle Real Estate, Brokerage  Hamilton  ON
184  RE/MAX Accord  Edmonton  AB
185  RE/MAX First Choice Realty Ltd.  Thunder Bay  ON
186  RE/MAX A-B Realty Ltd.  Stratford  ON
186  Coldwell Banker Neumann Real Estate, Brokerage  Guelph                          ON
188  RE/MAX Cité Inc.  Montreal  QC
189  RE/MAX Advantage Realty Ltd.  London  ON
190  RE/MAX Plus Inc.  Chambly  QC
191  RE/MAX Bois Francs Inc.  Victoriaville  QC
192  RE/MAX of Lloydminster  Lloydminster  AB
193  RE/MAX Direct Inc.  Aylmer  QC
194  RE/MAX Active Realty Inc.  Mississauga  ON
195  RE/MAX Banner Real Estate  Middleton  NS
196  RE/MAX Quality Real Estate Inc.  Moncton  NB
197  RE/MAX Drummondville Inc.  Drummondville  QC
198  Coldwell Banker Coburn Realty, Brokerage  Ottawa  ON
199  RE/MAX Privilège Inc.  Saint Hubert  QC
200  RE/MAX Advantage Realty  New Westminster  BC
200  RE/MAX Land Exchange Ltd.  Wingham  ON
202  Keller Williams Realty Centres  Newmarket  ON
203  Coldwell Banker Westburn Realty  Burnaby                         BC
204  RE/MAX Legend Real Estate Inc.  North Bay  ON
205  RE/MAX Lanaudiere Inc.  St-Charles Borromee  QC
206  RE/MAX Défi (1996)  Valleyfield  QC
207  Keller Williams Solid Rock Realty  Ottawa  ON
208  RE/MAX Omega Realty (1988) Ltd.  Newmarket  ON
209  RE/MAX Extra Inc.  Beloeil  QC
210  RE/MAX Laurentides Inc.  St-Sauveur  QC
211  Coldwell Banker The Real Estate Centre, Brokerage  Vaughan                         ON
212  RE/MAX Orillia Realty (1996) Ltd.  Orillia  ON
213  RE/MAX East Coast Realty Ltd.  Conception Bay South  NF
214  RE/MAX Blue Chip Realty  Yorkton  SK
215  RE/MAX Action (1992) Inc.  Lasalle  QC
216  EXIT Realty Specialists  Saint John  NB
217  RE/MAX 3000 Inc.  Montreal  QC
218  Harvey Kalles Real Estate Ltd.  Toronto  ON
219  Coldwell Banker Fort McMurray  Fort McMurray                   AB
220  Tradewinds Realty Inc.  Chester  NS
221  Coldwell Banker ONTRACK Realty  Red Deer                        AB
222  RE/MAX Welland Realty Ltd.  Welland  ON
223  RE/MAX Actif Inc.  Saint-Bruno-de-Montarville  QC
224  RE/MAX Real Estate   Spruce Grove  AB
225  Keller Williams Realty South  Calgary  AB
225  RE/MAX Sault Ste. Marie Realty Inc.  Sault Ste. Marie  ON
227  CENTURY 21 Professional Group Inc.  Brantford  ON
227  RE/MAX Progroup Realty  Delta  BC
229  Royal LePage Binder Real Esate  Windsor  ON
230  Coldwell Banker Charles Marsh Real Estate, Brokerage  Sudbury                         ON
231  EXIT Realty Fusion  Regina  SK
232  RE/MAX Lakeshore Realty Inc.  Cobourg  ON
233  RE/MAX Advantage (Whitecourt)  Whitecourt  AB
234  RE/MAX Coast Mountains  Terrace  BC
235  Realty Executives Leading  Spruce Grove  AB
236  RE/MAX Unis Inc.  Repentigny  QC
237  RE/MAX of The Battlefords  North Battleford  SK
238  RE/MAX Futur Inc.  Châteauguay  QC
239  Coldwell Banker All Points-Festival City Realty, Brokerage  Stratford                       ON
240  RE/MAX Park Place Inc.  Sydney  NS
241  RE/MAX Rocky View Real Estate  Airdrie  AB
242  RE/MAX Excellence Inc.  Anjou  QC
243  CENTURY 21 In Town Realty  Vancouver  BC
243  EXIT Realty Matrix  Orleans  ON
245  RE/MAX V.R.P. Inc.  Saint Eustache  QC
246  RE/MAX Williams Lake Realty  Williams Lake  BC
247  Coldwell Banker Redwood Realty  Whitehorse                      YT
248  Realty Executives Progressive  Edmonton  AB
249  CENTURY 21 Executives Realty  Vernon  BC
250  RE/MAX Goldenway Realty Inc.  Toronto  ON