Glens May 2009 Real Estate Outlook


The Calgary Market is Still Improving

 

 

The Local Calgary Real Estate Market still seems to be turning.  We have had a very Busy and successful last month, every one in the office is very positive

 

Home prices are down, interest rates are at an all time low, so affordability is at a peak.  Prices have dropped in some areas around $100,000 so now is an Excellent time to buy. The number of Sales have increased every month this year and most Recently from 2455 last year to to 2,711 this year. the average sale price is up to $394,000, compared to 433,470 last year

 

 

  Read the complete CREB Stats Package

 

 

 

So our Personal Strategy and our Recommendation to our friends and clients

 

Now is the Time to Buy as we come to the spring market. The correct scenario is different for everyone, depending upon your Financial Situation, and Risk Tolerance, and your Existing Property type.

 

However here are some -- Possible Scenarios

 

1)     For First time Home Owners looking to move up:

a.      Rent your Existing Property, and have the tenants make the payments

b.      Either manage it yourself or use one of our recommend property managers

c.      Finance out the down payment from your Existing Property

d.      Purchase a new home at today’s reduced prices

e.       When the market prices increase 1 Year + then either

                                                    i.     Sell the first home, pay down more of the mortgage on the new Second home

                                                   ii.     Keep the first home as a rental, if you find you like the rental business, let the tenants pay off the mortgage for you. Start to Generate long term passive Cash flow

 

2)     You purchased a home in the boom there was no selection at the time, and now you don’t like your home or location:

a.      The value of your home has dropped and you can’t sell without taking a loss

b.      May be now is the time to purchase a different home as selection is way up and prices are way down

c.      So you can either

                                                    i.     rent your existing home

1.      Sell it  when the market prices increase 1 Year +

2.      Pay off your new mortgage

3.      Or keep it as a long term rental investment

                                                   ii.     Sell your existing home at a loss and move across latterly.

1.      The new house you will be buying will also be cheaper by the same % as your existing home

2.      So when the market comes back up you are at the same or better price point as you now have a more desirable home

 

3)     You own an existing home you have equity but it is time for a move for any  number of reasons (or you just want to take advantage of the Down market)

a.      So you can either

                                                    i.     rent your existing home

1.      Sell it  when the market prices increase 1 Year +

2.      Then pay off your new mortgage

3.      Or Keep it as a long term rental investment, and start to generate passive cash flow

 

                                                   ii.     Sell your existing home and move across to your new home.

1.      The new house you will be buying will also be cheaper by the same % as your existing home

2.      So when the market comes back up you are at the same or better price point as you now have a more desirable home

 

 

4)     You have money in the markets and are sick of the Roller Coaster ride

a.      Generate your down payment for  an investment property from

                                                    i.     Use some existing cash for the down payment

                                                   ii.     Finance out a Down payment from your existing home

                                                 iii.     Start to move some of your assets out of the Market and use it for a down payment

b.     Purchase an investment property at today’s reduced prices

c.      Either manage it yourself or use one of our recommend property managers

d.     Start to generate a positive cash flow for your retirement that is market independent

e.  Sleep better at night

 

 

 

These are a number of different Scenarios that may work in your particular circumstance. The Key points to remember are:

1)     We have a couple of good property managers that we can recommend to manage a rental property if you don’t want to do it yourself

2)    We have a couple of good mortgage brokers that can analyze your financial situation to see what is the best scenario for your financial situation

3)   Put your money to work for you in a safe secure investment  

 

4)  Real Estate is a Quality, Secure long term and if you desire hands off investment that will generate you positive cash flow for years to come

 

 

 

 

Please call glen at 403-829-9500 and we can discuss your particular circumstances

 

 

 

 

 

 

MLS Calgary metro homes was 1,584 in the month of May 2009, showing an increase of 23 per cent from 1,290 sales in April 2009, according to figures released by the Calgary Real Estate Board (CREB®). This was an increase of 16 per cent from May 2008, when single family home sales were 1,368. The number of condominium sales for the month of May 2009 was 653, an increase of 13 per cent from the 579 condominium transactions recorded in April 2009, and an increase of 13 per cent from May 2008, when 577 condominiums changed hands.

 

 

 


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Glen Godlonton Re/Max Realty Professionals #10 6020 1A ST. SW Calgary T2H 0G3 403-829-9500
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