Life-changing event sparks local real estate professional into action

Mathew Said Morley's good deeds come from the heart. Literally.

Six years ago at the age of 26, the Calgary real estate professional had open heart surgery. Born with some heart issues, it wasn't his first surgery – and it may not be his last.

But this particular operation changed his outlook on life — in a beautiful way.

"It really made me think about how fragile life is, and how many people could use just a bit of extra help," he said. "It motivated me to get involved in the community in different ways."

Overseas condo ownership ramps up in Calgary

Foreign ownership is picking up in Calgary's housing market, according to a new report from Canada Mortgage and Housing Corp (CMHC).

Late last week, the federal housing agency noted foreign ownership in Calgary's condo apartment sector has increased from just 0.2 per cent of the total market in 2014 to 1.1 per cent in 2015.

While it's a far cry from the level of ownership seen in markets such as Vancouver and Toronto, the rise in Calgary still represents a five-fold increase.

New report shows energy uncertainty creating options for buyers

For Calgarians looking for a new home, the financial cloud hovering over the province's oil patch may have a silver lining.

According to RBC's latest Housing Trends and Affordability Report, homes in the city became more affordable during the first quarter of 2015.

The bank's index, which measures the percentage of household income required to service the price of owning a home, showed costs in Calgary fell across all housing types in 2015.

Calgary housing prices change direction in May

For the first time since December 2014, Calgary's residential unadjusted benchmark prices improved over the previous month. Within the city of Calgary, housing prices totaled $454,100 in May, a monthly and year-over-year increase of 0.55 and 0.96 per cent.

"For the third month in the row, new listings have eased compared to last year, helping push the market toward more balanced conditions, despite the current environment of slower sales activity," said CREB® chief economist Ann-Marie Lurie. "This has helped prevent further declines in the unadjusted benchmark price."

Based in Calgary, Jeff James is vice-president and head of TD's Commercial Real Estate Group for the Prairies. A graduate of the University of Manitoba, James is also a black belt and instructor in Brazilian Jiu Jitsu. He is currently in the process of opening his own school, which will focus on teaching an anti-bullying program for kids aged nine to 15. CREBNow recently sat down with James to discuss everything from the current market to what he thinks is Calgary's best-kept secret.

CN: Could anyone have predicted the current market?

JJ: If you look back at the economic forecasts from the last 12 months, you can see that no one was predicting oil would drop from approximately $100 to $50 per barrel. In addition, the Bank of Canada's decision to drop interest rates in January took most economists by surprise. So I think it's safe to say people were caught off guard.

CREB's monthly stats show Calgary sales in January total 880 units, below typical activity
Low oil prices throughout January, combined with a shifting outlook in the energy sector, caused unease for consumers. As a result, monthly housing sales activity fell to levels not seen in five years.

"Economic conditions this year are expected to be weaker than original estimates provided in December 2014," said CREB® chief economist Ann-Marie Lurie.

Attainable Homes Calgary Corp. president David Watson talks new developments and more

Buying a home just got a lot easier for some Calgarians.

Local builder Partners Development Group has committed 10 per cent of its upcoming multi-family homes developments to Attainable Homes Calgary Corp. (AHCC). AHCC is a non-profit organization delivering entry-level homes for Calgarians caught in the affordability gap. Those who qualify can get into the market with a mortgage pre-approval and only $2,000 down.

"We work with AHCC as a way to give back to Calgary, helping more middle-income Calgarians get into home ownership through this socially responsible program," said Greg Gutek, Partners Development Group president and founder. "We're looking at our future Calgary developments to see how we can adjust the design and density to include more attainably-priced homes."