CREB®Now reader Norman asks...
Q: How does the system of purchasing a foreclosure work? From the moment of saying "I want to purchase the house" to it ending with the judge saying it's yours. From single purchasers to multiple "bidders," how long on average does it take?

Joe Howlett, RE/MAX Real Estate Mountain View
A: Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who stopped making payments by forcing the sale of an asset used as collateral for the loan.

A luxury market stats breakdown with CREB® chief economist Ann-Marie Lurie

CREB®Now: How do statistics for luxury homes fit into the overall housing market in Calgary?

Lurie: It's usually the media that defines what the luxury market is. What I see as luxury is different from everyone else. To me, this reflects properties that have sold for over $1 million, and these properties account for roughly four per cent of all our sales activity

You asked, we answered

The people have spoken! We asked you for your most pressing real estate questions, then threw them to our expert panel of experienced REALTORS®: John Hripko (Royal LePage Benchmark), Laura O'Connell (RE/MAX House of Real Estate), Sam Crick (RE/MAX Realty Professionals) and David P. Brown (The Real Estate Company Ltd.).

As former mayor of Okotoks and a current REALTOR® there, Sandi Kennedy has a unique view of what the town was, is and will be.

From 1988 to 1994, Kennedy headed up a town council that had to deal with the diverse wants and needs of individuals and businesses during a period of tremendous growth. The town had a population of about 5,500 when she took over the mayor's chair, and surged during her term in office – today, the number sits at nearly 30,000.

Born and raised in the southern Alberta foothills, Kennedy still lives in Okotoks, and took the time to talk about what the town's future might look like as it continues to grow.

There aren't many people who don't trade "good mornings" with Cathy Burton when she arrives to work, and that's one of the many things she likes about her job as head golf professional at Willow Park Golf and Country Club.

"I've gotten to know a lot of the members," she said, before pausing to congratulate a passing member on her second round in as many days.

Allan Klassen wears a few different hats these days. He has his husband-and-father hat, of course. Then there's one as senior vice-president of housing for Brookfield Residential and another as chair of BILD Calgary.

The fourth hat he wears is as chair of the Gordie Howe Centre for Alzheimer's Research and Education Society (GH CARES). And like everything else he's involved in, Klassen brings a strong level of passion to this undertaking.

The highlight for this non-profit that provides assistance to the 45,000 Albertans who suffer from Alzheimer's or dementia is the pro-am hockey tournament held annually in Calgary in April.

CREB®Now sits down with Calgary Transit senior transit planner Asif Kurji

Calgary's Main Streets project is back in the news, with Calgary Transit recently outlining its involvement in the City-backed initiative.

CREB®Now recently sat down with Calgary Transit senior transit planner Asif Kurji to discuss everything from how upcoming transit projects will factor into Main Streets to why he believes the city doesn't have any secrets.

CREB®Now: For those who are not familiar with it, what is Main Streets?

Kurji: The Main Streets initiative is a City initiative that is looking at 24 main streets in Calgary. The goal is to learn and understand each street, including their history and character, and then to create a strategy to enable growth along each of the main streets. Main streets provide an opportunity for mixed-use development such as residential, commercial and retail, and make a street great for people to live, work and play. Examples of main streets being look at include Centre Street N., Edmonton Trail N.E., Ninth Avenue S.E. in Inglewood and Kensington Road N.W.