Comments on: May 2009 – Calgary Real Estate Review

By: Roger

Roger — Tue, 28 Jul 2009 13:39:06 +0000

The data provided in the blog will be of great help for construction companies. Even I know a resource named Construction Wire (http://www.constructionwire.com/) from where you can get details of major construction projects done in the past as well as bid for fresh projects. I am taking the help of this online resource and highly recommend it to others also.

By: Mike Fotiou

Mike Fotiou — Thu, 04 Jun 2009 20:29:07 +0000

More price cuts from condo developers, this time from Anthem Properties and its Waterfront Two condo development along the Bow River in the Eau Claire district.

Price reduction depends on the unit with some in the range of 20 to 25%. Some large 2 bedrooms have been reduced by as much as $187,000. 35 units are priced under $300,000.

By: Mike

Mike — Wed, 03 Jun 2009 07:57:04 +0000

These increased mortgage rates come at a time when housing prices haven’t hit bottom yet. This will cause the house price floor to be another floor lower.

Mortgage rates should double in the next couple of years as bailout money, inflation and increased taxes take hold.

Now would be the time to lock in on that fixed mortgage or save for a bigger down payment so not only your interest is greatly reduced but also when you go to renew in 5 years time it won’t be at a 10% (or more) rate.

Mike

By: Mike

Mike — Wed, 03 Jun 2009 07:53:35 +0000

“RBC’s new posted 5 year fixed rate is up 0.20% today. It’s almost certain that BMO, Scotia, CIBC & TD will follow suit shortly.”

BMO:

BMO Bank of Montreal announced today it is changing its residential mortgage rates, effective June 2, 2009.

The new rates are:

Fixed Rates: To: Change:

5 year fixed closed 5.45% +.20%
7 year fixed closed 6.80% +.20%
10 year fixed closed 6.95% +.20%

By: Mike Fotiou

Mike Fotiou — Tue, 02 Jun 2009 22:33:03 +0000

Castello Condo Stimulus Package - Calgary Herald, June 2

Homburg Invest Inc., said it doesn’t want to sit on unsold condos and Tuesday it announced its program for the 19-storey Castello development at 530 12th Ave. S.W. In the 106-unit building, there are 42 remaining to be sold...Prices have already been slashed by an average of $100,000 per unit in the condo tower with 60 per cent of the 106 units occupied. Prices range from a low of $400,000 to $1.1 million.