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hammock_RRSPAccording to a new report from TD Economics, investors need not worry about the housing market crashing over the next ten years.
The research paper released just recently predicts that after the housing market has undergone a “gradual, modest, downward adjustment over the next three years,” the annual rate of return for real estate will dip to the 2 per cent mark – and stay there.“A string of lackluster performances will mean in nominal terms will be roughly 2 per cent over the next decade,” says the report. “In other words, real estate gains are set to match the pace of inflation.”
Queens University real estate professor John Andrew agrees with the projection. “I wouldn’t even be surprised if the growth rate for housing is less than inflation over the next decade,” he says. The findings are in stark contrast to predictions from Moody’s Investors Service, which claimed yesterday that Canada was on track for a severe correction with prices being knocked down by 44 per cent. TD chief economist Craig Alexander says the bank’s report disputes claims like these that propagate the belief a correction is on the cards.
“I do not think we have a housing bubble in Canada,” he says. We have had abnormal strength in the market during a period of low-interest rates and when rates go up over the next three years, you will get a cooling and weaker prices, but not a permanent shock and not a sharp correction.”
But with two reports in as many days offering such conflicting projections, it’s important that investors be mindful of the relevance of such macroeconomic national reports”
“Investors have to remember this is talking about national averages and price changes, it’s not really relevant to the average investor investing in a local market. Even within a local market, you’ll have different asset classes that will perform differently – what’s happening in the housing market will be different to what’s happening in the condo market. Large scale, ten-year predictions like this – it’s something to be aware of, but not something Private Lenders would be worried about as an investor.”   Predictions in the report will likely come to fruition, and points to two key variables investors should consider when analyzing the market in the long-term. “One is income growth,” investors say “and I think this report is quite accurate in terms of their predictions regarding this. We’ve already seen a significant slowdown in income growth across the country.” We predict the rise of interest rates as another key variable. “We may not see them rise for the next 3 or 4 months, but when they do – even modestly that will have significant cooling effect on the market as well.”

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Values up, risk down, time to invest

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your futureCalgary’s resale housing market started off 2013 with a bang, with a 15 percent increase in sales over January 2012 results, and in fact its best January for sales since 2008!

The Calgary Real Estate Board® (CREB®) reports a total of 1,230 sales for January 2013, a significant increase over the 1,068 sales reported in January 2012. Single-family homes accounted for 879 of January 2013 sales – an increase of 15 percent over January 2012 single-family home sales. New listings for single-family homes remained just above levels recorded at the same time in 2012 for a total of 1,737, although listings for other home types dropped, to result in a slight overall decline in total new listings for January.

“While activity is typically slower in the winter months, recent improvements in single-family new listings helped support improved sales in that market,” explained CREB® President Becky Walters. “Overall indicators put the market in balanced conditions.”

If you’re thinking about listing your home, it’s a great time to do so as inventory levels are still low. CREB® notes that a lower level of inventory can pose a challenge to buyers, as they feel the need to make their buying decisions quicker than buyers have done over the past four years.

Whether you’re thinking of buying, selling or “just looking”, you’ll want the most up-to-date market information available. Please call today for the latest updates in your area!

By: Richard Conover of Real Estate Professionals www.calgarycondos.org

How hot is the Alberta Real Estate Market; time to invest, yet again…

CALGARY — Alberta will lead the country this year and in 2013 in the pace of  growth in the resale housing market, according to a new forecast by the Canadian  Real Estate Association.

The national association of realtors said Monday that Alberta MLS sales this  year will finish up 13.1 per cent from last year to 60,800 transactions and  sales will lead the country next year as well with 1.3 per cent growth to  61,600.

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The Real Estate Investment Network in Canada is “hot” on Calgary’s potential  and has ranked it the top investment city in Canada for 2013 to 2016, said  Melanie Reuter, director of research for the organization.

“This ranking came as a result of extensive research into the underlying  economic fundamentals driving Calgary’s economy as well as the current housing  market’s response to these fundamentals,” she said. “The job market is strong  and is poised to lead the country in job and population growth. Immigration from  other parts of Canada as well as abroad is putting a steep downward pressure on  vacancy rates and a strong upward movement on rents. This pressure is not  predicted to ease significantly in the coming years.

“The high average-weekly-earnings in the city mean more disposable income in  this PST-free province, which is creating a country leading consumer confidence  level. This is creating further stimulation of the economy through consumer  spending, which in turn brings increased employers, people, and demand for  housing.”

On Monday, CREA said the average sale price in Alberta is expected to rise by  2.7 per cent this year to $363,100 and by another 2.3 per cent in 2013 to  $371,300.

In November, Calgary MLS sales of 1,831 were up 10.6 per cent compared with  last year while on the national level sales dipped by 11.9 per cent to  30,573.

The average sale price in Calgary rose by 3.8 per cent to $413,921 but fell  by 0.8 per cent across the country to $356,687.

In Alberta, sales increased by 3.2 per cent to 4,034 transactions and the  average price was up 4.3 per cent to $365,999.

“National sales activity has remained fairly steady at lower levels since  mortgage rules were changed earlier this year, but that stability masks some  real differences in trends among local housing markets,” said Wayne Moen, CREA’s  president.

CREA on Monday also released its MLS Home Price Index of seven major Canadian  markets. Regina’s annual price growth of 11.58 per cent led the nation followed  by Calgary at 7.13 per cent.

Investors alert: with 10% downpayment you can buy as many income properties as many you want. Find out how we get you low interest mortgages to invest.

Read more:  http://www.calgaryherald.com/homes/Alberta+resale+housing+market+tops+Canada+annual+sales+growth/7708791/story.html#ixzz2FXVX1zpi