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New property listed in Point McKay, Calgary

I have listed a new property at 528 Point Mckay GROVE NW in Calgary. See details here

Riverside elegance is the theme in this stylish Point McKay townhome. Follow the steps up from the entry to a spacious living area, where high ceilings and big windows bring in tons of beautiful natural light. A gas fireplace is a cozy centrepiece that begs for a comfy couch and a good book. An airy open layout flows up to the dining area and kitchen, and well-placed lighting includes pot lights and unique fixtures throughout the home. High-shine white cabinetry and upgraded stainless appliances in the kitchen infuse a sleek, modern flair, while dark plank flooring and wood countertops add nature-inspired warmth and texture. Your plants will love the bay window here, and a pantry makes organizing supplies and ingredients a breeze. There is also a powder room conveniently on this level. On the upper storey, an office nook at the top of the stairs is perfect for your work from home setup. The primary bedroom is large and well laid out, with dual closets forming a hallway to a stunning jack and jill ensuite that is shared with the rest of the level. The second bedroom is an amazing example of a multipurpose space, featuring an innovative built-in wall bed that converts from a desk to a bed without moving the computer or monitors! On the ground level, there is a huge storage room as well as a laundry area. The single attached garage offers covered parking as well as a place to store your outdoor toys and other extras. Outside, the deck off the living room steps down to a tidy fenced yard with a row of mature trees along the back that make it feel wonderfully private. This home is exceedingly well-located. Choose your own adventure every day, as the back gate opens directly onto the green space that runs along the Bow River, where endless hours of walking or biking await. Nearby, the outdoor athletic park, tennis courts, and popular Angel’s Ice Cream are local favorites. Also in walking distance, treat yourself to a day at Riverside Spa or a tasty meal at the iconic Lazy Loaf and Kettle. Commuters can bike or drive into downtown in less than 10 minutes, and both the Foothills and Children’s hospitals are close by as well. A short drive will take you to Market Mall, trendy Kensington, or up and coming Montgomery for plentiful shopping and dining options! See this one today!

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What Does Inflation Mean For A Real Estate Market?

Inflation typically means that the overall cost of goods and services in an economy is increasing. In the real estate market, this can lead to higher home prices as the cost of building materials, labor, and other expenses associated with buying and selling homes increases.

Additionally, if inflation is coupled with a strong economy, demand for housing may also increase, further driving up prices. However, it's important to note that inflation alone does not determine real estate prices, it is a complex market that is influenced by various factors.

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca

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Source: What Does Inflation Mean For A Real Estate Market? | Greater Calgary Real Estate | Jan 27th, 2023

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Before heading into the long weekend...
I want to say a massive THANK YOU to the most incredible clients in Calgary!

The year has had a good start and as we approach the Spring market, I can feel it getting busier. You deserve the best experience and being prepared prior to listing will help keep you ahead of the curve when the Spring market arrives.

What’s in it for you?
- A Fun Client-First Experience
- Home Staging Assistance
- Professional Photography & Videography with Dzyne Culture
- Refined Listing & Marketing Strategy
- Systems to keep you updated & in charge

When you’re ready, call/text (403) 807-2204, send me a DM, or email jstreich@shaw.ca. I love to help!
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Real Estate Trends in 2023

The real estate market has changed so much over the past 2 years and continues to do so! This month I am sharing details on some of the interesting trends we are seeing for 2023.

If you have any questions on these or any other real estate-related concerns, please feel free to reach out to me. I’ll be happy to help you out!

Jason Streich⁠

Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca⁠ 

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January 2023 - Calgary Real Estate Market Update

The level of new listings in January fell to the lowest levels seen since the late 90s. Sales activity slowed compared to the high levels reported last year but remained consistent with long-term trends. Detached homes only comprised 47% of all sales.

With 2,451 units available in inventory, levels remain 43% lower than long-term trends for the month. Homes priced under $500,000 reported year over-year inventory declines of nearly 30% while inventory levels improved for homes prices above that level.

The benchmark price reached $520,900, 5% higher than last January, but still well below the May 2022 high of $546,000.

If you or someone you know have questions about how this may impact your home selling or buying decision, send me a message!

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca⁠

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Read Full CREB Market Report⁠
Home Evaluation Form
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Housing Taxes and Benefits for 2023

Effective January 1, 2023

Anti Flipping Tax  - Profits from properties held for less than 12 months are fully taxed with certain exceptions for unexpected life events like death or divorce. This ensures investors pay their share and are an active role in lowering home prices. 

Speculation Tax – Effective May 7th, 2022, The Goods and Services Tax/ Harmonized Sales Tax (GST/HST) will be applied to all assignment sales of new construction or substantially renovated residential housing. Note, an assignment sale is when a property is resold before it’s been built or lived in.

Vacant Home Tax – Foreign-owned underused housing will have a 1% annual vacant homes tax to help make more homes available, the market more affordable and to ensure non-resident owners of Canadian housing pay their share. 

Foreign Buyers Ban – Foreign purchasing will be halted for 2 years effective January 1st, 2023 ensuring housing is used as Canadian homes and not as financial assets for foreign investors.

Benefits for Buyers in 2023 - The First-Time Home Buyer’s Tax Credit doubled to $1,500 in direct support to home buyers to offset the increasing costing costs involved in the home buying process. January 1st, 2023 saw the introduction of a refundable Multigeneration Home Renovation Tax Credit which provides $7,500 to support the construction of secondary suites for senior family members or other adults with needs like disability.  

Tax-Free First Home Savings Account (FHSA) If you contribute $8,000 per year to buy a home, it’s the equivalent of the government offering you a non-taxable gift. Unlike the HBP, you don’t need to pay back the amount, even if the withdrawals are not used on a down payment for a home. However, those withdrawals will be taxable.

Reach out with any questions! It would be a privilege to serve as your Realtor.

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca

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Source: Housing Taxes and Benefits for 2023 | Greater Calgary Real Estate | November 26th, 2022

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CREB Forecast Calgary & Region Yearly Outlook Report

“Elevated lending rates are expected to weigh on sales in 2023, bringing levels down from the record-high in 2022 but with forecasted sales of 25,921, levels are still expected to be higher than the activity reported before the pandemic. Recent growth in migration and employment is expected to help offset the impact of higher lending rates, keeping annual sales activity higher than levels achieved throughout the 2015 to 2019 period. The growth in new listings in 2022 was not enough to offset the gains in sales and supply levels have remained low, especially for lower-priced product. The higher lending rates are also expected to weigh on listings growth in 2023 as it has become more challenging for a move up buyer. While improved starts are expected to help support supply growth, thanks to the strong migration levels, supply levels are not expected to report significant gains.

The low starting point and limited upward pressure on supply in 2023 is expected to prevent any significant downward pressure on prices as demand normalizes. However, conditions are expected to vary depending on price range and property type. Higher-priced homes are expected to see some downward price pressure as that segment of the market is not experiencing the same supply constraints.Meanwhile, supply declines relative to sales for lower priced properties are expected to continue to support modest price growth. Declines in the upper end of the market are expected to offset gains in the lower end of the market as total residential prices in Calgary are expected to stabilize in 2023.”

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca

Read More | CREB Forecast Calgary & Region Yearly Outlook Report

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How Do Interest Rates Affect Our Real Estate Market?

The real estate market can be significantly impacted by interest rates. When they’re low, it’s more affordable to borrow money to purchase a home which increases the demand and raises prices. When interest rates are high, it’s more difficult and less affordable to purchase a home which decreases demand and lowers prices.

Any change in interest rates can impact existing mortgage and the value of homes. They are crucial in understanding the overall health of the real estate market. If you have any questions about buying or selling, connect anytime! It would be a privilege to serve as your Realtor.

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca

Watch Video
Source: How Do Interest Rates Affect Our Real Estate Market | Greater Calgary Real Estate | Jan 27th, 2023

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New property listed in Springbank Hill, Calgary

I have listed a new property at 116 Timberline WAY SW in Calgary. See details here

A lottery dream home could be your reality, with this stunning Springbank Hill property. Over 3200 sq. ft. of clean lines and light, nature-inspired tones are enhanced with black accents to create a bright, airy, and elegant aesthetic. Soaring ceilings lead you from the door up to a sleek main floor, where natural light flows and the kitchen takes centre stage. Hexagonal backsplash tiles, a custom wood hood fan, and gold door pulls add visual depth to a white palette. High-end appliances include a hidden fridge, gas range, and a built-in microwave. A vast quartz-topped island is illuminated by stylish pendant lighting, with plentiful eating and prep area around the undermount double sink. The opposite wall holds a gorgeous glassed-in wine cellar right next to the full pantry. In the dining area, a credenza is the perfect sideboard for big meals, and this space steps out to a west-facing patio that takes in the infamous Calgary sunsets. The other end of this level is a classy living room, complete with a statement gas fireplace. Decorative woodwork matches the wide-plank flooring, and a wet bar keeps the drinks and the conversation flowing as you move out to the covered east balcony. This floor also has a private den for your home workspace and a powder room in the same luxurious finishes as the kitchen. Upstairs, a bonus room offers a fantastic spot to wind down in the evening. To one side, the picturesque primary retreat features vaulted ceilings and full-height windows. A sitting area begs you to relax with a good book, and your wardrobe will stay flawlessly organized in the extensive walk-in closet. In the ensuite, your peaceful and enchanting personal spa is complete with a dual vanity, a luxe tiled shower with a bench, and a deep soaker tub. Two more bedrooms on this storey are generously proportioned and have big closets. A large main bathroom has the same alluring style as well as a functional family-friendly layout, as does the laundry room, where storage, hanging space, and a utility sink are additional conveniences. On the lower level, a large entryway from the oversized, heated, double attached garage, has a built-in bench with hanging space. The rec area would make a wonderful home theatre, and there is room for a conversation, games, or office nook as well. A flex room has gym flooring, so your exercise equipment already has a spot. Another full bathroom rounds out this floor. Timberline Estates is surrounded by nature, with paths and parks along the nearby ravine offering hours of outdoor activities. Down the street, Aspen Landing or Signal Hill provide shopping and a plethora of restaurants, as well as great schools. While the community feels secluded, main routes connect to downtown and all quadrants of Calgary easily. Stoney Trail is also right there, meaning you can skip the traffic as you go about your errands, or head west to the mountains anytime they call. See this one today!

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Outperforming The Market - Home Prices Faring Better in Prairies

"Across Canada, monthly average housing prices have tumbled almost 20% from their peak levels last year as several negative forces have touched down, including a series of interest rate hikes and a slowing economy. During the same period, housing prices in the Prairies dipped by an average of 6%. In Alberta, prices will decline 5.6% - averaging about $418,000."

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca

Read More | Outperforming The Market-Home Prices Faring Better in Prairies | Calgary Herald

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New property listed in Lower Mount Royal, Calgary

I have listed a new property at 504 1215 Cameron AVENUE SW in Calgary. See details here

Penthouse style living, complete with unobstructed views of the downtown skyline including the iconic Calgary tower – could it get any better? Welcome to Mt. Royal Terrace, one of Lower Mount Royal’s hidden gems, set just a block from the hottest restaurants along popular 17th Avenue. Inside, luxe details give upscale vibes that will make this the go-to spot for all your gatherings. Rich espresso cabinetry in the kitchen forms a stunning contrast with pristine white quartz counters and luxury vinyl plank flooring. Coffered ceilings, under-cabinet lighting, and subway tile backsplashes add an elegant visual dynamic, and quality stainless appliances finish the modern aesthetic. A pantry closet offers storage shelving and space for all your extras, as well as in-suite laundry. The huge eat-up island will be the hub of your dinner parties, and it overlooks a spacious and sunny living area, where a statement wood-burning fireplace is a rare feature that invites cozy conversations and relaxing nights in. Step through the sliding glass doors to a massive private balcony that runs the length of the condo and has trendy brownstone vibes that perfectly frame the city panorama. The primary suite is gorgeous haven, with an extensive walk-in closet and a lovely ensuite complete with a jetted soaker tub. This room has direct access to the balcony, as does the generous second bedroom. The main bathroom has recently been remodeled, where you will enjoy a spa-like steam shower with a bench, and central air conditioning rounds out this amazing home. The complex is well-managed, and offers plentiful common area patios and rooftop gardens, and this unit also has two parking stalls and an assigned storage locker in the heated parkade. This area is quiet, yet conveniently close to a plethora of eateries and shops, and living a walkable lifestyle is absolutely possible here. Proximity to primary routes connects this central community to the rest of the city in just a short drive, and you can easily get out to the mountains as well! See this beauty today!

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