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        <title>Calgary Luxury Portfolio Blog</title>
        <link>http://www.calgaryluxuryportfolio.ca/blog/</link>
        <description>The Calgary real estate blog specifically geared to the luxury home market. If you're interested in buying or selling a luxury home, subscribe for all the latest news and info.</description>
        <item>
            <guid>http://www.calgaryluxuryportfolio.ca/blog/the-17-most-important-things-to-consider-before-buying-a-luxury-condo.html</guid>
            <link>http://www.calgaryluxuryportfolio.ca/blog/the-17-most-important-things-to-consider-before-buying-a-luxury-condo.html</link>
            <author>calgaryluxuryportfolio@gmail.com (Christy Bamber)</author>
            <title>The 17 Most Important Things to Consider Before Buying a Luxury Condo</title>
            <description> <![CDATA[ 
I have always enjoyed selling condos in Calgary. I'm a certified condominium specialist, as well as a luxury realtor, so luxury condos are definitely my specialty. Because there are plenty of factors to research and review when purchasing this type of property, you need a realtor who specializes in condos. Below are the major issues that need to be addressed before conditions are waived on your purchase:


Location, Location, and (lets all say it together) Location – With the recent new developments in Calgary's downtown east end, I get asked all the time what I think of luxury properties in this area. And then I have to remind people, what luxury condos? Builders are providing less and less large units and focusing more on the affordable units, especially in the East Village.


Condo Fees – Luxury condos are generally the largest units in the building, and one major factor for determining condo fees is the percentage of the building you own, so don't be surprised to be paying in excess of $1000 per month for condo fees. Condo fees are also a big indicator as to whether there is underlying problems in the building, so it is imperative to know what is going on in the building.


Special Assessments – These are two very scary words when you are a condo owner.  It is true, special assessments can be any amount. There have been $70,000 (per owner) special assessments in Calgary. This is a major reason why you should purchase a condo with a realtor who knows what they are doing and specializes in condo sales.


Low Reserve Funds – This is one way special assessments get started. Money is set aside every month to pay for expected maintenance on the building, but also for the unexpected. If there are constant repairs and the board is dipping into the reserve fund to pay for them, they can quickly deplete the reserve fund, and when it comes time to deal with scheduled maintenance, the funds will not be available. The board will either do a special assessment or won't do the maintenance; both are equally terrible. 


Unresolved Issues in the Meeting Minutes – This is a sure sign that something is broken and it is not getting fixed for various reasons. The condo board’s meeting minutes will tell you what issues have been addressed in the building. Having constant unresolved problems is concerning because either the management company is not doing their job, or the board is having problems coming to conclusions on how to solve problems.


Not all Documents are Available – This is another sign the building is being managed by a condo management company that doesn't have its act together. The selling realtor should have all of these documents up to date prior to listing the property. Make sure the review of condo documents is a condition to purchase of the property. This is critical!


Registered Size is Different From the Listing – Inexperienced listing realtors mess this up constantly. There are two sizes when it comes to listing a condo: registered size and paint-to-paint size. Make sure you know how much space you are actually getting, as that is a huge factor in pricing a condo properly. If you are paying $600/sq.ft., you want to make sure you are getting every single one of those square feet.


Average $1/sq.ft. in the Building – This is where things tend to go sideways with luxury condos. Most luxury properties are mixed in with smaller units in the building. Make sure you use a realtor who knows how to calculate the appropriate dollar per square foot for a luxury condo or you can end up paying way too much for the property.


Post Tension Cable Buildings – There are still plenty of them in Calgary and it’s simple when it comes to purchasing a luxury property in one of them: don't even think about it. 


Age Restricted Buildings – This one is tough, as it limits who you can re-sell the property to, but it can be nice living in a quiet 50+ building. Some lenders will also not provide mortgages for these buildings, as they are more difficult to sell just simply based on the smaller purchasing group available. 


History, History, History – This is almost as important as location, because it is critical for any property to know it's selling history, . What is even more important, with condos, is not just looking at the specific unit intended for purchase, but the whole building. How many units are in the building? How many are luxury units? How many luxury units have been for sale in the last couple years? Have there been big price decreases because properties haven't sold in the building? How many foreclosures have been in the building? Have any foreclosures been the luxury units? All of these questions are vital when purchasing a luxury condo. If you get into something that has a bad reputation, where multiple sub-penthouses have gone on the market over the last couple years, the developers penthouse was foreclosed on and sold for $300,000 below list price, many of the larger units have undergone massive price decreases, you need to ask yourself that if they can't sell it, why should I purchase it?


Number of Units for Sale – This ties into my point above, if there have been a large portion of units for sale, especially the larger luxury ones, you definitely need to consider other options. 


Operating Deficit – This is a simple problem that is common and damaging to any condo building. The condo board and/or the condo management company is spending more money than they are bring in. What does this mean? In the long run, the building will be broke and searching for ways to generate more cash. The two most common ways are to hike up condo fees, or the most feared one, special assessments on the owners. This is another prime example why if you own a luxury condo, you should be on the condo board.


Unresponsive Board – Since we are on the topic of condo boards, if the condo board is not returning requests or calls, this is a bad sign. When you are purchasing any condo, look at it as though you’re purchasing a share of a company. With luxury condos, you are purchasing a large share of a company. If the company isn't reporting earnings, among other things, it suggests there could be other underlying problems. Again, join the board and don't leave your investment in other people’s hands.


Low Owner Occupancy – This is a common problem in new buildings, especially when the pre-sell is done during high economic times and the possession of the units is during a recession. People would rather walk away from their deposit than take possession of a property that is worth significantly less than they originally agreed to pay. There are plenty of examples of this, but the most glaring was when there were barely any lights on in Calgary's tallest residential tower.


Monopolized Ownership – When one person owns most of the condos, they have the most voting power, which can present issues for obvious reasons. I cannot think of a building that has luxury condos in Calgary where this is the case; the majority of these examples are very small buildings.


Building and Unit Condition – Has there been water damage in the property? The board minutes will tell you what has been reported and what issues they have had with the building; but again, if it looks suspicious don't be afraid to request a property inspection as part of your conditions to purchase. 


Condo ownership has so many wonderful benefits.  I have been a home owner and a condo owner, and I have to say, I love living in a condo. There are plenty of luxury condos in Calgary, and I would be more than happy to find the perfect one for you, that will cause few headaches and be very enjoyable to live in for many years.


Tips from your Luxury Condo Specialist, 


Christy Bamber
 ]]> </description>
            <pubDate>Tue, 07 May 2013 20:32:00 -0500</pubDate>
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            <guid>http://www.calgaryluxuryportfolio.ca/blog/a-final-farewell-to-iggy-jarome-iginlas-house-sold.html</guid>
            <link>http://www.calgaryluxuryportfolio.ca/blog/a-final-farewell-to-iggy-jarome-iginlas-house-sold.html</link>
            <author>calgaryluxuryportfolio@gmail.com (Christy Bamber)</author>
            <title>A Final Farewell to Iggy: Jarome Iginla’s House SOLD</title>
            <description> <![CDATA[ 
Being a huge hockey fan, I was sad to see Jarome Iginla go - but not surprised. After having such an amazing hockey career, yet not winning a Stanley Cup, I too would run to the team with the best chance of winning it. 


But really, what would have been nice was getting in on the action to sell his house! Iginla's real estate exit was very quick and it was probably much easier than leaving the Flames. His 4,883 square foot home, built in 2008 by Hammer Homes, was sold in just three days for exactly what he was asking for: $3,995,000. 


I was a bit surprised to see it go so fast – especially since I had a very qualified couple that wanted to see it and who were very excited about the property. This one definitely got away quicker than the average luxury home in Calgary, but then again, the market for luxury properties in Calgary is having a record year. 


Good luck in Pittsburgh Iginla! I Hope things work out there, because if you were thinking of buying your home back, with the way Calgary housing prices are going I'm sure it's going to cost you more!


-Christy
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            <pubDate>Fri, 26 Apr 2013 12:54:00 -0500</pubDate>
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            <guid>http://www.calgaryluxuryportfolio.ca/blog/a-look-at-realtor-commission-on-the-biggest-ever-home-sale-in-calgary.html</guid>
            <link>http://www.calgaryluxuryportfolio.ca/blog/a-look-at-realtor-commission-on-the-biggest-ever-home-sale-in-calgary.html</link>
            <author>calgaryluxuryportfolio@gmail.com (Christy Bamber)</author>
            <title>A Look at Realtor Commission on the Biggest-Ever Home Sale in Calgary</title>
            <description> <![CDATA[ 
A frequently asked question from people listing a luxury property is: How much will I have to pay in commissions? I thought it would be interesting to answer this question using Calgary's largest home sale in history; examining it in terms of a marketing budget.


44 Aspen Ridge Heights SW was sold on February 27, 2013 for $10,350,000.  The property was on the market for 222 days, or just over 7 months.


This is how real estate commission works for most properties, but please note that while I charge these standard commission rates, many luxury realtors charge a premium, so these numbers may be different than what was actually agreed on:


Both the listing and buyer’s realtor each get 3.5% on the first $100,000, which is $3,500.  Then on the remaining balance, they receive 1.5%. On this monster sale, that means 1.5% of $10,250,000 is $153,750, for a total of $157,250.  Therefore in total, the seller would pay $314,500 to sell a $10,350,000 home - or just over 3% of the total sale price. 


Now let's compare this figure to the marketing budget of a typical small business with sales under $10 million dollars a year.  As many people know, marketing budgets and sales revenues are directly correlated.  That means, as budgets go up, generally sales go up too.  Global Intelligence did an independent global marketing study in 2011 and revealed most businesses with sales under $10 million dollars spend between 1%-30% of sales on marketing.  


Marketing expenses to sell a luxury home can sometimes be over 2% of the sale price. One advertisement alone in popular magazine can easily be $60,000 for just one half page ad! For a sale like this one, that may only leave about $17,000 for 7 months of work – or less than $2,500 a month for the selling realtor’s time, efforts, expertise and other business expenses. Yup, the numbers aren't as glamorous as they seem. 


I have built many of my marketing systems around the use of the Internet. The first showing of your home is online, since now 89% of people use the Internet to search for their new home.  And as you are reading this, I am spending a small fortune on Internet marketing to be one of the top searched websites for luxury real estate in Calgary.  I have packaged my expertise in marketing as well as my massive Internet exposure to get superior homes sold in Calgary – but it is not cheap.


I would be happy to sit down with any one who is looking to sell their home and go over the numbers with them.  I love what I do, and that is why I do it very well.  Asking about commissions is a critical part of selling any home, as is having the budgets presented to you and feeling comfortable that you are getting the best value for your money.
 ]]> </description>
            <pubDate>Tue, 19 Mar 2013 10:33:00 -0500</pubDate>
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            <guid>http://www.calgaryluxuryportfolio.ca/blog/calgary-sets-record-for-1-million-homes-sales-in-first-two-months-of-2013.html</guid>
            <link>http://www.calgaryluxuryportfolio.ca/blog/calgary-sets-record-for-1-million-homes-sales-in-first-two-months-of-2013.html</link>
            <author>calgaryluxuryportfolio@gmail.com (Christy Bamber)</author>
            <title>Calgary Sets Record for $1 Million+ Homes Sales in First Two Months of 2013</title>
            <description> <![CDATA[ 
Congratulations Calgary, we have already set an impressive record for luxury home sales this year.


In 2007, 69 homes over $1 Million were sold in January and February. In 2009, a mere 20 homes sold in the opening couple months of the year. Last year, 59 homes sold over the same period. Now for 2013, 98 homes over $1 Million have been sold, including one of our biggest ever home sales in Calgary – 44 Aspen Ridge Heights SW, which sold for a whopping $10,350,000. 


The big question is, what is driving this healthy luxury home market?


The best way to predict housing sales and price gains is to track population and job growth numbers.  As predictions continue to be high for both Calgary and Edmonton's real estate markets through 2016, our luxury real estate market is excelling. But why?


Canadian population statistics are typically released in June, but based on numbers from 2012, Calgary's population grew by 2.68%.  This is similar to statistics in 2007.  Job numbers are formally released March 29th, but if we look at it from a top down approach, I can already tell you based on real estate sales, this will be a banner year for Calgary. 


The Calgary Chamber of Commerce entitled their economic outlook report for 2013, “Teetering on the Brink of Prosperity”. It was a concise 38-page report on how Calgary's economy is dominating global headlines and exceeding expectations, and I felt the title has proven very accurate given the luxury home market so far this year. Calgary is definitely not an island, and many global events can significantly affect our economic situation, but I believe 2013 will continue to be a record setting year for luxury home sales.
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            <pubDate>Mon, 11 Mar 2013 13:18:00 -0500</pubDate>
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            <guid>http://www.calgaryluxuryportfolio.ca/blog/a-trip-to-the-grammy-awards.html</guid>
            <link>http://www.calgaryluxuryportfolio.ca/blog/a-trip-to-the-grammy-awards.html</link>
            <author>calgaryluxuryportfolio@gmail.com (Christy Bamber)</author>
            <title>A Trip to the Grammy Awards</title>
            <description> <![CDATA[ 
Dealing in luxury real estate often affords me some pretty unique opportunities. This time, it was a trip to see the Grammys live in Los Angeles. The music industry has little to do with real estate, but when you get an invite to go, you don't say no. 


Contrary to what most people think, the Grammys aren’t just one night – they are a whole weekend of events. The biggest ticket was on Friday night – an event honouring the great Bruce Springsteen at MusiCares.  Each year, the honoree gets to pick artists to come and sing their songs. At the end of the evening, the honouree performs. It’s all in an effort to raise money and support for struggling artists. The evening starts with a very expensive live auction. The auctioneer, David Foster, bought two out of the four items, although in true Hollywood spirit he behaved like a complete snob and insulted pretty much everyone. The host, Jon Stewart, got him back later on by mentioning what an ass he was.


Last year's live auction raised $110,000. This year, a package that included a signed guitar, an hour guitar lesson from Bruce Springsteen, and a whole bunch of other goodies including a lasagna from his mother, went for $250,000. But I don't think Bruce bargained for the woman from New Jersey who won the items to attack him with 3 BIG kisses right on the lips. To end the night, Bruce invited people to come up on stage and perform Glory Days. Sting, Tim and Faith, Mumford and Sons, and a ton of other stars joined him. It was amazing to see, and I wished I had even a bit of a singing voice because I would have joined in. I am brave, but completely tone deaf. 


On Grammy Night, I got to walk the "citizen side" of the red carpet, which was still very nerve racking. We were seated in the 14th row on the floor, where all the stars walked past. It was a different experience to see stars that close; Jennifer Lopez is tiny and Taylor Swift is a giraffe.


I love music and I love that the Grammy producers have figured out how to sell an amazing show by pairing acts that you would never normally see perform together. I thought Justin Timberlake's performance was best of the night - It was an awesome surprise when Jay-Z walked out of the audience and up on stage with Justin during the performance. Alicia Keys and Maroon 5 were great, but didn't flow as well, and the ever-amazing Bruno Mars made Sting sound like a bad karaoke act. Ed Sheeran definitely held his own on stage with Elton John, and though I heard Elton didn't sound as good on TV, he sounded amazing live.


And poof, with the last award to Mumford and Sons, my Grammy weekend was over. It was fun and a wonderful experience; I'm truly grateful. The glamour continues selling luxury real estate!
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            <pubDate>Thu, 14 Feb 2013 12:32:00 -0600</pubDate>
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            <guid>http://www.calgaryluxuryportfolio.ca/blog/how-to-throw-a-better-super-bowl-party.html</guid>
            <link>http://www.calgaryluxuryportfolio.ca/blog/how-to-throw-a-better-super-bowl-party.html</link>
            <author>calgaryluxuryportfolio@gmail.com (Christy Bamber)</author>
            <title>How to Throw a Better Super Bowl Party</title>
            <description> <![CDATA[ 
If you can't make it to New Orleans this year to see the Ravens and 49ers battle it out for NFL glory, but you still want to have fun watching the game, here are a few tips for throwing an amazing party:


-Super Bowl can be the longest game ever,  especially for a host. One of the worst things to happen to the organizer is a boring game – so be prepared.  If you are in Canada, shell out the extra dollars for the American televised game, as you get all the extremely expensive, over the top commercials. This can keep you and your guests entertained when the game isn’t on.


-Second, make sure you have plenty of drinks.  Variety is key here; not just alcohol, have good mixers too. Not everyone will have the need to get intoxicated, and its more fun for the guest if they feel taken care of.


-Third, to get people who aren't big sports fans more involved, have a Super Bowl pool.  You can do a simple one such as the one on www.punchbowl.com or you can go crazy and bet on everything including the coin toss.


-Fourth tip, serve great food.  Have it catered to make things easier, or pre-order platters from your local fresh market.  Not everyone will be excited for the chips and dip, so make sure there are healthy alternatives as well.


-Lastly, keep the decorations to a minimum, as this means more things to clean up.  But keep the television to a max! Don't forget to have a maid service scheduled for the next day to take the stress off you.  One idea is that if you are a "party theme" person, you could do a Mardi Gras style party with beads in the colour of the opposing teams and party hats to match.  It can add to the fun and people don't have to ask the usual question, “Who are you cheering for?”


If this all sounds like way too much more work, then plan it somewhere else.  This year to escape the cold weather, we are packing up and taking some clients to Las Vegas.  The MGM Hotel throws a huge Super Bowl party right in the Grand Garden Arena.  With all the big screens, catered food, and thousands of people, we've booked a private suite and are going to the Super Bowl’s next best thing. 


-Christy
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            <pubDate>Sat, 02 Feb 2013 12:55:00 -0600</pubDate>
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            <guid>http://www.calgaryluxuryportfolio.ca/blog/luxury-travel-in-the-turks-caicos.html</guid>
            <link>http://www.calgaryluxuryportfolio.ca/blog/luxury-travel-in-the-turks-caicos.html</link>
            <author>calgaryluxuryportfolio@gmail.com (Christy Bamber)</author>
            <title>Luxury Travel in the Turks &amp; Caicos</title>
            <description> <![CDATA[ 
So much has been happening with Calgary Luxury Real Estate lately, I haven't had a chance to write about my vacation.  I took some time over the holidays for a family vacation to the Caribbean. On arrival in the Turks and Caicos it looked a bit more polished than most Caribbean islands, and the British influence was apparent right from the start. They drive on the "wrong" side of the road and love their roundabouts.


We stayed on one of the eight main islands, Providenciales.  This is where the main airport is and most of the resorts, including ours, Seven Stars.  (To be honest, this wasn't our first choice for accommodations. We wanted to stay over on Parrot Cay Island, where rumour had it, the Pitt-Jolie family was staying at the same time.  But, it will have to wait for next time.)


The Seven Stars resort is in a great location; right in the middle of the tourist district of Grace Bay. Our main-floor three-bedroom suite had plenty of room, with a massive private deck right off the large resort pool. It had all the amenities for luxury travel – nothing I would go crazy over, but nice.  By day two, the severe lack of service at the resort was apparent. It's such a shame when a beautiful property is run like a cheap motel. There was not much we could do since everything good was sold out, so we made lemonade out of the lemons. 


The food at Seven Stars was less than appealing, so we took the opportunity to venture out to some great restaurants.  Our favourite restaurant was Hemingway's at The Sands Resort.  Everything was amazing there, including finally escaping the automatic 15% gratuity in most resorts.  I suspect this is why the service was spectacular there.  Live music and an eclectic menu, all while sitting on the beach.  It was wonderful.  For a romantic dinner, I would highly recommend Coyaba.  A French and Caribbean fusion, the setting is a beautiful covered patio.  The kids loved Mango Reef, and while adults might want to eat before or after, it's a fun deck restaurant by the docks.  And, a great Italian restaurant is Bella Luna, which was just outside our resort in Grace Bay.  Excellent pasta dishes.


Outside of the food, we had two big adventures. The first was renting jet skis to tour around the island and check out a sunken ship.  There's a cool pirate culture on the island, and it's a really fun place to jet ski.  The second was chartering a glass-bottom boat, which was a blast! The islands are protected by the third largest barrier reef in the world, which made for excellent snorkeling.  We went up and down the islands, swimming, tracking down iguanas, fishing, and getting conch out of their shells. The captains with Reef Peepers were amazing and I would highly recommend them for a private charter with the kids.


With only a week to explore and everyone loving the beach, there were so many other things we didn't get to do like horseback riding, parasailing, scuba diving, golfing, kite boarding, kayaking, and paddleboarding that we will definitely be going back to do. Just word to the wise: pick up a magazine called ‘Where When How’ and book all tours directly through the tour provider. 


All in all, we turned lemons into the sweetest, tastiest lemonade, and had a wonderful vacation.  We are already looking into the resort in Parrot Cay for next year!


Christy
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            <pubDate>Mon, 28 Jan 2013 12:06:00 -0600</pubDate>
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            <guid>http://www.calgaryluxuryportfolio.ca/blog/consumer-electronics-shows-and-luxury-real-estate.html</guid>
            <link>http://www.calgaryluxuryportfolio.ca/blog/consumer-electronics-shows-and-luxury-real-estate.html</link>
            <author>calgaryluxuryportfolio@gmail.com (Christy Bamber)</author>
            <title>Consumer Electronics Shows and Luxury Real Estate</title>
            <description> <![CDATA[ 
I know what you’re thinking. What does a Consumer Electronics Show (CES) have to do with Luxury Real Estate? Well, more than you may think!


Like yourself, most luxury homebuyers these days will actually have their initial home showing online. Unlike the golden days of slugging it out in endless viewings every weekend for months, you can be sitting at your dining room table in your bunny slippers and view 20 properties in 20 minutes. What you may not realize, however, is that how you receive that information is very critical to whether you actually book a showing to go see one of those properties in person.


As an experienced luxury real estate agent, I am highly aware of how important these first impressions are for my clients. I am also highly focused on being innovative in delivering real estate information to my clients, so I thought it was time to see if anything at the world’s largest consumer electronics show could boost my creativity.


I first attended the International Consumer Electronics Show six years ago – the last one being in 2007.  What a difference six years makes!  Back in 2007, the iPhone had just been released, the iPad didn't exist and everyone was pumped about the newest "touch" technology. Innovation was running wild.


Fast forward to 2013, and the coolest thing I saw at the Las Vegas event was the 3-D printer. I imagined how awesome it would be to integrate this new technology into real estate by printing out three-dimensional floor plans that could be delivered to prospective buyers. What I was shocked about was actually not the price, as they were less than $2,000.  It was the amount of time it would take to print just one floor – over 8 hours! And that’s in just one colour. If you are interested, check out www.makerbot.com to learn more.


I’m now considering using a service that won an innovation award at the show, called Sculpteo. A higher quality product, they do all the 3D printing for you and deliver it directly anywhere in the world. It would be great to have a printed 3D model of a listing in Calgary delivered to a client in Dubai. Check out www.sculpteo.com if you’re curious.


The other amazing advancements in technology were in the health and fitness area. You can now track pretty much everything your body does! They had a video game that you could navigate by wearing a Star Trek-esque visor on your head that tracked your brain activity. I was skeptical about this, but thought it would be great as a REALTOR to be able to read my clients’ minds…. but then I realized – I am already pretty good at that!


All and all, there is over three million square feet of space in the Las Vegas Convention Centre, it was packed with over 200 thousand people, and other than those I mentioned all I saw was about a million different cases for mobile phones and tablets!  I couldn't believe how many people were selling these things.


I think it will be at least another six years before a brave that zoo again. Who knows what technologies will be making headway by then? I just hope there’s more of a variety than the plethora of cases for our mobile devices.


-Christy
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            <pubDate>Thu, 24 Jan 2013 14:44:00 -0600</pubDate>
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        <item>
            <guid>http://www.calgaryluxuryportfolio.ca/blog/did-i-hear-someone-say-fire.html</guid>
            <link>http://www.calgaryluxuryportfolio.ca/blog/did-i-hear-someone-say-fire.html</link>
            <author>calgaryluxuryportfolio@gmail.com (Christy Bamber)</author>
            <title>Did I Hear Someone Say Fire?</title>
            <description> <![CDATA[ 
The 2012 statistics are in for Calgary’s Real Estate market, and the biggest winner? Luxury real estate.


According to the Calgary Real Estate Board, "The city experienced a record for MLS sales over $1 million in 2012, with 544 transactions – eclipsing the previous record of 458 in the housing boom of 2007. In 2011, there were 446 luxury home sales."


CREB also stated, "In 2012, the luxury home market had 508 single-family home sales and 36 condo sales compared with 420 and 26 respectively in 2011."


But what does this all mean? For starters, a 20% increase in sales over $1 million dollars in one year is definitely something to be proud of.  While other Canadian cities are experiencing a decline in their real estate market – particularly the luxury sector – it's absolutely fantastic that Calgary Luxury Real Estate is excelling. But I don't want to call fire until I smell something burning.


While the CREB also stated, "Last year 1,533 homes were listed for sale in Calgary over $1 million in 2012 – 1,408 single family homes and 125 condos," there's still one very important statistic to digest. Only 35% of all listings over $1 million were actually sold in 2012.  That means 65% of those listings did not sell. I will spare you the basic principles of supply and demand, but essentially, it boils down to one fact. Buyers may have a lot of selection, but sellers have a lot of competition.


I want to make sure all luxury real estate buyers and sellers have realistic expectations for 2013. It’s difficult to sell every single luxury listing – in fact it’s rare to see anything more than half. If we have another 20% increase in luxury homes sales this year, it would bring Calgary up to 653 sales for 2013. But, an even more impressive stat that I would like to see next year is 50% of homes listed over a million dollars SOLD! 


Now, if there is the same number of listings as last year (1533), that would put us at whopping 767 sales over a million dollars! 


Let's do it Calgary! 


Happy 2013,


Christy
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            <pubDate>Mon, 21 Jan 2013 11:06:00 -0600</pubDate>
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        <item>
            <guid>http://www.calgaryluxuryportfolio.ca/blog/when-is-the-best-time-to-list-my-home.html</guid>
            <link>http://www.calgaryluxuryportfolio.ca/blog/when-is-the-best-time-to-list-my-home.html</link>
            <author>calgaryluxuryportfolio@gmail.com (Christy Bamber)</author>
            <title>When is the Best Time to List My Home?</title>
            <description> <![CDATA[ 
I get this question a lot.  My answer is always a question back: When do you want to sell your home?  


You should always list your home when your home is ready for sale.  The first few weeks on the market are the most critical time for any property.  You are the "brand new listing" and buyers who haven't found what they are looking for, but are ready to purchase, are going to want to see your property immediately. 


Common sense says you should list your home when you have a buyer who wants to buy your home.  But, you ask, how will I know that?  An evaluation of the average Days On Market of comparable properties will provide insight to this.  For homes over $1 million, the average Days On Market in Calgary is 97. 


The overall average Days On Market in Calgary in November 2012 was 50 days, which is down from 53 days the year before.  With a smaller amount of people able to purchase a property over $1 million, you need to be absolutely sure that your home is ready to be sold.  


A few tips: 




Make sure all renovations are complete before it is listed


Clean out all the clutter; this is a great time to start preparing to move


Stage you home so that it looks like a show home




There isn't a magical time to list your home; the real magic comes from having a home that is going to be someone's dream home. Being critical of your own home is difficult, so if you are considering listing your home, please book an appointment and we will go through the steps to make your home into a buyer's dream. 


Luxury Living at its Best in Calgary,
 ]]> </description>
            <pubDate>Wed, 19 Dec 2012 11:03:00 -0600</pubDate>
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