Westman Centre for Real Estate Studies is developing tomorrow's real estate professionals

While interest accruing on a mortgage balance is rarely a welcome sight, the growing interest in the Westman Centre for Real Estate Studies at the University of Calgary is a different story.

Part of the Haskayne School of Business, the Westman Centre was founded in 2012 with $7.6 million in funding from the real estate industry, which included a $5 million endowment from Jay Westman. Its mission is to be a catalyst for the development of real estate professionals and a leading centre of excellence for real estate studies through its teaching, research and community engagement activities.

"Industry saw a need for a program where graduates would have a firm grasp of the real estate sector and the career opportunities it could offer," said Jessica Abt, the centre's director.

Joshua Smith achieved his ideal downtown lifestyle at the right price point with a new Beltline condo

Joshua Smith, a 31-year-old communications adviser, was living in the northeast community of Taradale with his brother, commuting close to two hours a day to his job in the downtown core and back. His goal was to save some money and purchase a condo in the inner city. He yearned for the downtown lifestyle, where he could be close to coffee shops, restaurants and workout facilities. He wanted to be able to walk to work, and to meet friends for dinner or drinks without having to worry about a lengthy drive or an expensive cab fare. He also required a home with a great view, and it had to be affordable.

How Calgary's housing market stacks up against other major centres

When it comes to the housing market and the availability of affordable options, people often lose sight of the big picture. Instead of obsessing over the minute details of the market in any one particular city, it can be helpful to take a step back and examine things in a broader context to provide points of comparison. This dose of perspective helps one to remember that while $400,000 might seem like a lot to ask for a detached home in one city, in another major metropolitan area, people might be hard pressed to find a home for less than twice that amount.

Market sees modest inventory gains, but overall prices inch up 

Sales exhibited stable growth through the first half of the year in the Calgary housing market, but the number of transactions slowed slightly in July compared to last year.

Citywide sales totaled 1,637 units, six per cent below July 2016 levels. Year-to-date sales activity totaled 11,957 units, nine per cent above last year.

"Sales growth exceeded expectations so far this year. Clients were re-entering the market after delaying decisions until there were some signs of economic improvement," said CREB® president David P. Brown.

These are exciting times for James Robertson as he watches the massive University District mixed-use development rise from the ground in northwest Calgary.

As president and chief executive officer of West Campus Development Trust, which is spearheading the impressive project, Robertson proudly points to some recent accomplishments as a clear indication that this proposal is now well on its way and not just a grandiose plan.

A roadway off of Shaganappi Trail N.W., leading directly to the site, opened at the beginning of December, providing easier access. A Discovery Centre opens March 11, which will include a 3,000-square-foot information area about the project as well as two areas that are 1,000-square-feet to serve as sales centres and show suites for builders Truman and Brookfield Residential.

1988 CREB® president Jerry Roberts recalls Winter Olympics arriving at the right time for Calgarians

Like many Calgarians, the first thing Jerry Roberts remembers about 1988 was the Winter Olympics.

The international sporting event transformed Calgary, as 1,423 athletes from 57 nations competed in 46 events over 16 days in February 1988.

But perhaps more importantly, it put Calgary, then a city of 675,000 and the first Canadian city to host a Winter Olympic Games, on the world map, said Roberts, who was president of CREB® that year.

CREB®Now looks back on 2016 with Calgary mayor

CREB®Now had the chance to sit down with Mayor Naheed Nenshi to get his birds-eye view on some of the city's most pressing issues over the past year, including who he believes is Calgary's hero for 2016. Here's what he had to say:

CREB®Now: There has been a lot of discussion regarding the cost of doing business in this city, both in the core and the suburban areas. What is the city doing to minimize their burden in the current economic climate?

Talking everything from what makes a great community to the favourite room in her house

What defines a great place? A mix of housing? A popular neighbourhood haunt? Walking and biking paths?

CREB® recently sat down with Eleanor Mohammed, president of the Alberta Professional Planners Institute and a director for the Canadian Institute of Planners, which organizes the annual Great Places competition. Here's what she had to say:

CREB®Now: Tell us a bit more about the Great Places competition?

Over the past five decades, Calgary's real estate industry has been bare to it all – from double-digit interest rates to densification. Starting today, CREB®Now will weave together an incredible narrative of how the local housing industry has evolved through the unique perspectives of CREB®'s 30 remaining past presidents.

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Change can be hard.

It can be messy.

It can be painful.

But it can also be necessary.

And with perspective, it can be the best thing that ever happens.

Real estate industry has undergone monumental shift, says CREB®'s longest-tenured past president

When Roy Wilson describes the early days in the 1950s in which he got his start in real estate, it quickly becomes clear just how much Calgary and the real estate industry has changed in one lifetime.

"I've seen lots of ups and downs," said Wilson, who headed up CREB®'s board of directors in 1961, officially making him the organization's longest-tenured past president.

In fact, he describes today's market as "taking a kick in the teeth" but, adds confidently, "it's going to turn around."