SERIES A8

Old neighbourhoods, new Calgary

A look at some of Calgary?s earliest communities and how they?re evolving with the times

FUN AND FUNKY

Local wreaths made from nature?s bounty

DONNA BALZER A11

real estate news from industry experts

FREE nov 21 to nov 27 2014 issue 04-46 editorial 403-781-1324 advertising 403-263-4940 crebnow@creb.ca

POWER OF THE PUMP

How the future of oil and gas in Alberta will affect Calgary?s housing market

82.5 80.0 77.5 75.0

Source: oil-price.net

WTI CRUDE OIL

OCT 17 - NOV 1 KELSEY HIPKIN reporter/photographer The plummeting price of oil is unlikely to affect Calgary?s housing market in the immediate future, but a prolonged slump could eventually leave its mark on the local landscape, say Canadian economists. ?If the recent slide in oil prices turns down the migration taps, construction activity could begin to soften again in Calgary,? said BMO senior economist Robert Kavcic, noting that, in

SINGLE FAMILYMLS

®

MONTH END INVENTORY*

OCT ?12 ? OCT ?14

3114 2586 1859 2075 2048 2727 2977 3311 3199 2917 2791 2789 2705

OCT12 NOV12 DEC12 JAN13 FEB13 MAR13 APR13 MAY13 JUN13 JUL13 AUG13 SEP13 OCT13 NOV13 DEC13 JAN14 FEB14 MAR14 APR14 MAY14 JUN14 JUL14 AUG14 SEP14 OCT14

*All statistics based on monthly data compiled by CREB ® via MLS ® activity. the interim, Calgary?s housing market remains red hot. Canada Mortgage and Housing Corp. predicted this week that total housing starts in the area will peak at 17,200 units this year, a 37 per cent increase from 2013. Yet the federal agency also anticipates a decrease to 14,400 units in 2015 and 12,800 in 2016. In the resale housing market, CMHC expects total MLS sales in the region to total 33,500, an 11.8 per cent increase from the year prior. It forecasts a more modest 2.1 per cent gain to 34,200 units in 2015 and 1.8 per cent

2171 1515 1671 1894 2052

increase to 34,800 in 2016. ?We?re coming off two record years of net migration. The combined 2012 and 2013 together it?s almost 80,000 people, so it?s no wonder that we?re seeing record levels of production and sales transactions,? Felicia Mutherady, CMHC senior market analyst for Calgary, said at the 2014 Calgary Housing Conference. ?Moving forward, we?re expecting employment growth to moderate and along with that net migration.? West Texas Intermediate, a U.S. grade of oil used as a benchmark for oil

2445 2919 3128 3056 3021 2961 2780

prices in North America, and Brent Oil, a benchmark grade of oil from 15 North Sea fields against which almost half of the world?s petroleum is priced, both reported four-year lows this week, with prices approaching $70 a barrel after hovering around the $100 mark dating back to 2010. The price for Western Canada Select, a high-sulphur blend of Alberta oils and bitumen, meanwhile, has similarly dipped below $80 per barrel. Ongoing pipeline delays such as Northern Gateway, Energy East, Line 9B reversal and Keystone XL continue

WATERFRONT CONDOS MORE THAN THREE- QUARTERS SOLD

CREB® STAFF

Just

days after launching the third phase of its Waterfront condominium development in Eau Claire, Anthem Properties Group reports it is already nearly 85 per cent sold out. As of Nov. 15, the builder had sold 252 units of the 302-unit Parkside phase. CONDOS A3 to landlock Alberta crude desperate to enter new markets. ?Calgary?s been here before, and once again oil prices have people worried about a downturn,? said ATB senior economist Todd Hirsch. ?But the city is more prepared than ever to withstand a possible slowdown in 2015.?

CONTENTS

NEWS BRIEFS.

.

EVENT LISTING.

.

WEEKLY FEED.

.

SECONDARY SUITES

. .

MORTGAGE COLUMN.

.

MORTGAGE RATES.

.

COMMERCIAL.

.

MAP

. .

OPEN HOUSES.

. OIL AND GAS A3

A3 A6 A6 A6 A10 A10 A11 B1 B18

@crebnow /crebnow crebnow.com

Tired of paying rent? Hate your commute? Call Doug McKay (403)975-1776

Text city to 587-333-0281 for photos & more details.

www.RealEstateAdvocates.ca dougmckay@shaw.ca

Real Estate Advocates This unique property in Millican Ogden is zoned for commercial use & is centered on two 25 x 130? lots. One lot is zoned residential and the other is zoned commercial. It has been updated to accommodate a small business with a new roof, kitchen and baths. The 3 bedrooms upstairs are currently being used as private offices with more work stations on the main level & in the basement. The main floor could also easily be used as a family home with a business downstairs. There is a direct entrance to the basement from the rear door. The wiring & internet are upgraded to accommodate a business & there is central air. There is lots of parking in the rear, and a single car garage for storage. The basement is wide open with lots of room to custom-ize to suit your needs & includes a 2 pc bath This home is in a great location & would be an ideal space for your business or as an investment property. $550,000 MLS ® C3642874

You need to upgrade your Flash Player


You need to upgrade the version of your Flash Player to version 9 minimum.

Click here

Adobe Flash Player Download Center