October 2012

Found 5 blog entries for October 2012.

Are you thinking about investing in a condo?  If so, you’ve probably already started looking into such things as the type of property that appeals to you, the market in the area you are looking and the odds of finding good tenants. While you are doing your preliminary research, take a look the items below, equally important in your property search.

Study Reserve Funds

The rules for Reserve Funds vary from one province to the next. If most of your current investments are in Ontario and you decide to branch out to Alberta or perhaps British Columbia, you may be looking at a whole new set of requirements. One of the things that is the most variable is the time frame between required Reserve Fund Studies. While Ontario lists its requirements as simply

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Calgary’s economy, strong and getting stronger, is expected to remain so throughout 2013. The employment growth is steadily moving forward, and the city is seeing an increased demand for commercial office property in the downtown core. All of this was highlighted by a report put out recently by the Calgary Chamber of Commerce. Called the 2013 Economic Outlook, this missive also noted that retail sales growth, construction starts and income growth were all on the rise.

Calgary is seeing its population increasing at a five year high, which trickles down into the need for more housing, goods and services. That means the residential construction market will have plenty to keep them busy, along with those builders adding office space. Confidence in both

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The southwestern end of Calgary saw the most activity in the resale housing market in the multi family sector from July through September in 2012. The Calgary Real Estate Board just posted their latest report.

Known as Zone C, which covers most of that southwest quadrant, saw 843 units change hands, bringing in an average sale price of $323,991. That is twice as much activity as Zone A, the northwestern quadrant, which came in second. That zone saw 445 sales, with the average price coming in at $288,179.  Zone C also saw properties on the market for an average of 48 days, again the best record in the city.

The Connaught neighbourhood was the flagship in Zone C, with 95 units sold and with the average price per unit at $321,935. This same Zone C also took…
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The Calgary Real Estate Board, or CREB for short, reported favorable numbers in that city’s multi-family home market for this past September. Ann-Marie Lurie, economist for the firm, noted that Calgary is seeing steady employment growth, an influx of new residents and wage rates that are coming in at above the national average.

All of this positive news led to an increase in townhomes and condo-apartments sales that were higher than the activity seen during that same month in 2011. In the resale market, 276 properties changed hands, compared to the 236 seen during September of 2011. That is a 17 percent increase.  Condo townhomes saw 209 sales this September, a ten percent growth over September of last year.

When looking at prices in the resale market,…
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August of 2012 saw a 0.2 percent increase in the Canadian consumer price index, or CPI. That may not seem like good news but it did follow three months that all showed declines. Comparing that same month to August of 2011, we find that consumer prices increased by 1.2 percent. If you adjust the current year figure to account for seasonality, the CPI comes out at 0.4 percent. The Bank of Canada, when looking at the core measure, came up with a 0.3 percent increase on the unadjusted as well as the adjusted seasonal rate.  Core inflation decreased to 1.6 percent this past August, the slowest rate in nearly 12 months.

Consumer Prices

Looking at consumer prices for August, electricity, women’s wear, passenger cars and trucks, and gasoline were all up from

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