Charles Market Report
Welcome to the Charles’ Q3 market report. This quarter we cover market stats, the looming impact of new mortgage rules, a review of why we don’t think we can look to China in hopes of some kind of price surge, and what is up with the Amazon bid and what it means to YYC.
Market Data and Trends
The long U shaped recession is taking just as much time recovering as it did linger. Things continue to look up, with year over year sales up 7% in the first half of this year, but we remain 11%…
For several years now we have seen Chinese investment drive sales and pricing in Vancouver and Toronto. The National Bank of Canada estimated that Chinese buyers bought nearly 8.4 billion dollars worth of property in Vancouver and 12 billon dollars worth in Toronto in 2015. There is no doubt that this is a double edged sword and that markets in those cities are now dealing with issues of housing affordability. The BC government and Vancouver have taken policy steps that are aimed at slowing the influx of foreign money and they are working. …
Change Will Only Make Us Better
The Toronto Real Estate Board and the Competition Bureau are headed back to the Federal Court of Appeal this week to argue over access to housing market data. The Toronto Real Estate Board maintains that this is private information and that sharing it en mass is a privacy breach. There is a lot for the Court to consider. But while I was driving my kids to school an announcer on CBC Radio said that access to this information was the sole reason for existence of Real Estate Brokerages and Realtors. …
As prices soared into the stratosphere in Vancouver and Toronto, Canadians from coast to coast heard howls of concern about housing affordability in two of our major centres. And the concerns are valid. However, sky high pricing will impact you differently if you are already an owner as opposed to someone trying to get into the market. Babyboomers were grinning like Cheshire cats — sitting comfortably on stacks of money, while Generation Next was either stretching their wallets to the max, or had convincing themselves that homeownership was beyond them (and they didn’t really want it anyway). …
When we first meet with clients who are thinking about selling their home the first question is the most important one: How much is my home worth?
Sellers will have a few resources available to them as they seek to answer this question. Many will have looked to the City’s assessment value as a guideline, but tax assessed values rarely correspond to market value. Tax assessments are issued in June of every year, but they are based on sales data from the previous year. So, if you are listing in May there will be 5 months worth of new sales…
At Charles Real Estate, we work hard to stay on top of market trends. This year we saw the downturn in the economy take a toll on a lot of families and jobs. Uncertainty can be very stressful.
The real estate industry itself was also hit hard. Several key industry players, Royal LePage Foothill and Discover Real Estate, both closed their doors this year. We have heard that millions of dollars of unpaid commissions have been lost and our realtor friends who were owed this money are coming to accept their earnings may never be paid.
This happened because commissions…
We are Calgary’s boutique brokerage and we are devoted to doing real estate differently.
At Charles we take our role as your trusted advisor to heart. Your best interest governs everything we do. It’s the only way we do business.
We work hard to make sure that our clients are our biggest fans.
We’ve shoveled driveways, cut the grass before an open house, driven across town in the middle of the night to help a client locked out of their home and volunteered countless hours in support of community integrity. We do this because we are grateful for your trust and your business.
Our measure of success is your satisfaction. It’s better than any sales award or trophy. You can trust that we have your back.
At Charles, everything is about loyalty.
If you have any real estate needs, do reach out.
By Emma May, Co-Founder of Charles Real Estate
I saw this graphic on LinkedIn the other day and it instantly resonated with me. This is the sales model that my partners and I have worked to give rise to at Charles Real Estate. What I love about it is that it is a model that incorporates a fundamental value shift into every aspect of the sales cycle.
When I first started out in real estate I wanted to learn as much as I could about why certain agents were so successful and what their secrets were. I researched real estate…
Charles Real Estate is a boutique real estate brokerage that is dedicated to the values of honesty, intergrity and service excellence.