Beauty is in the eye of the beholder, say housing experts

The term "luxury" defies a single definition – especially when it comes to housing in Calgary, say experts.

"Luxury is specific to each individual, driven by their particular needs," said Kevin Mullen, president of the Empire Group of Companies, which has constructed dwellings in most of Calgary's upscale communities.

"If someone values the weekend lifestyle, then you might live in Springbank. If being proximate to the Glencoe Club is important, then you might choose Elbow Park. Those lifestyle decisions reflect into defining a luxury community."

Analysts say indicators point to prolonged downturn

The health of Calgary's residential housing market is only as good as the foundation it's built upon, say analysts, who reference several key indicators that point to a prolonged downturn in the city.

Richard Cho, principal market analysis in Calgary for Canada Mortgage and Housing Corp. (CMHC), noted everything from employment levels to household income and migration to spending levels signal to tough times ahead for the local housing market.

Live-work concept grabs holds in Cochrane

In a town of less than 20,000 residents, the traditionally large urban centred live-work concept is proving to be a big hit.
Cochrane town council has just given approval of amendments to its land-use bylaw to ensure specific guidelines are in place for both developers and owners of units in mixed-use residential/commercial projects.

This comes after LaVita Properties, the developer behind Cochrane's first live/work project aptly titled Satellite Townhomes in Sunset Ridge's Trading Post development announced it is already planning a second similar venture.

Apartment to be most affected, says forecast

Calgary construction is expected to slow down this year and next, according to a new forecast from real estate consultant Altus Group.

Detailed in the group's winter forecast, starts in Calgary are predicted to drop from 13,000 in 2015 to 9,200 in 2016 and 9,000 the following year as a result of the province's struggling energy sector.

Calgary's real estate market, by the numbers

Calgary's resale residential housing market in February was virtually unchanged from previous months, highlighted by sales declines, inventory gains and, ultimately, price softness.

CREB®Now breaks down some of the key statistics to come out of CREB®'s monthly housing summary.

$445,000
The benchmark price for a home in Calgary last month was $445,000, a 0.6 per cent decline over January and 3.5 per cent lower than levels recorded last year.

Some areas of Calgary are reacting much differently to market conditions

Calgary residential resale housing prices continued to slide in February, yet new data shows not all areas of the city are being impacted in the same way.

According to CREB®, some districts east of Deerfoot Trail are exhibiting price resilience – and even some gains – despite the citywide bench-mark price slipping by 3.45 per cent from the same time last year to $445,000.

In northeast Calgary, for example, the benchmark price in February increased year-over-year by 1.7 per cent last month to $366,800, while east Calgary remained flat at $324,800, reported CREB®.

CREB®Now sits down with M.D. of Foothills Mayor Larry Spilak



Situated south of Calgary, the Municipal District of Foothills is changing. Communities such as Okotoks, High River, Black Diamond and Turner Valley are growing, while areas in-between are seeing its demographics evolve.

CREB®Now recently sat down with M.D. Mayor Larry Spilak to get his two cents on everything from the local housing market to his favourite thing to do on a day off.

CREB®Now: First off, you're title recently switched from reeve to mayor? Why?

Spilak: Many rural municipalities are making this change. The term "reeve" is not as familiar to many residents, while the term "mayor" is universal and does not require any explanation. Whether called a reeve or a mayor, the responsibilities and duties for the position are the same.

Monthly prices decline for fifth consecutive month: CREB

February sales totaled 1,127 units in Calgary, a 6.63 per cent drop over last year and 37 per cent lower than long-term averages for the month, according to CREB®.

In its monthly housing summary, CREB® reported citywide unadjusted benchmark prices totaled $445,000 last month, a 0.63 per cent decline over January and 3.45 per cent lower than levels recorded last year.

"Slow sales and elevated housing inventory has resulted in further price declines," said CREB® chief economist Ann-Marie Lurie. "Given the current economic environment, it is no surprise that consumer confidence and housing demand is being impacted."

'A place for everything and everything in its place'

Over the past several months, I have been getting ready to move. And as I've packed up my life, I've realized every object has a story, whether that be who designed it, where it was bought, where it has been or how it has been used and by whom. This story gives the object more importance. It gave me a reason to keep it or chuck it.

Yet even if you're not moving, you should all be editing your objects. Don't think about it too hard about it. If you love something, keep it. If not, repurpose it, whether that be putting it in storage or donating it to charity. After all, one person's junk is another person's treasure.

If you have many pieces of one collection, (my weakness being cake plates), put them together instead of spread everywhere. Show them off as one. Or repurpose them take sea shells from past vacations and put them in a glass vase or crystal bowl lined with a handful of sand.

A sneak peek into this year's Home & Garden Show

If you could grow healthy lettuce with the same protein value as steak, would you? After all, according to Steve Solomon, author of The Intelligent Gardener, it's possible to grow lettuce with 20 per cent protein simply by mineralizing your soil.

Solomon mocks garden writers, myself included. He says, in a long and thorough way, most of us do not replace the minerals in the soil at the same ratio we take them out when we harvest plants.

So I decided to test my soil recently, and I got some bad news.

My problem is I am afraid to pollute the soil with excess fertilizers, so I add only natural ingredients like compost and worm castings. Solomon, who used to be an organic farmer, says compost is not enough. The soil system is broken and compost alone will not put our humpty dumpty soil together again.