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        <title>Calgary Real Estate Blog</title>
        <link>http://www.calgaryrealestate.pro/blog/</link>
        <description>Visit our blog to keep up with news and trends in the Calgary and surrounding areas housing market. Courtesy of Carlos Montes Remax Real Estate (Mountain View).</description>
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            <guid>http://www.calgaryrealestate.pro/blog/calgary-real-estate-turning-into-a-sellers-market.html</guid>
            <link>http://www.calgaryrealestate.pro/blog/calgary-real-estate-turning-into-a-sellers-market.html</link>
            <author>info@calgaryrealestate.pro (Carlos Montes)</author>
            <title>Calgary Real Estate Turning into a Seller’s Market</title>
            <description> <![CDATA[ 
Calgary residents that are looking to sell their properties will be happy to know that the market is officially on the seller’s side of the ever changing scale. The strong Calgary market is seeing this shift to being on the seller’s side for the first time since 2007-- right before the recession hit-- and that is great news for those who have properties up for sale or who are seriously thinking of listing their homes.


Analysts say that the current market is reassuring for both buyers and sellers, and point to the strong economic sector, the growth of the number of people moving to the city, the still low interest rates and rising wages as indicators that Calgary’s real estate market is strong and steady, it’s just that now, selling a home is a lot easier than buying one for many.


The single family home benchmark price was up over 7% in April from last year, and listings are up across the city, where prices are the best that they’ve been in five years. There were even a record number of luxury homes sold in April, up a whopping 38% from this time last year. Overall last year, the number of luxury homes bought and sold in the city set a record and that doesn’t seem to be slowing down as we head into the second quarter of the new year.


This year so far has seen the number of listings go up, and houses being snapped up quickly, with some becoming embroiled in a bidding war for that perfect house. The number of transactions has also risen, as is to be expected, with people having to make a quick decision about putting an offer in or not before it sells to the next family through the door.


So what is causing this seller’s market? Real estate is a supply and demand proposition, if there is a lot of supply and not much demand, it is considered a buyer’s market as there are plenty of things for potential buyers to look at and debate on. If there isn’t as much supply, but a lot of demand, we are left with the seller’s market, which is which is the case at the present time. If supply and demand remains pretty even, the market is said to be balanced. Another thing realtors look for is the absorption rate, which looks at the number of properties on the market; how many properties are for sale at the end of a given month compared to the number of properties that sold in that same month.


If you are thinking of selling your home, the experts say that you should get it ready to sell sooner rather than later so you can take advantage of the current situation. You should strive to add value to your home and price it competitively, declutter and be prepared for a lot of visitors to your open houses.


On the flip side, if you are looking to buy a home in this seller’s market, the experts say you should do your homework beforehand, be prepared to move fast on a house that you like and, most importantly get pre-approved for your mortgage, so you know exactly how and when to put that solid offer on the table with confidence. Having a down payment or deposit ready is also a great idea as it shows you are serious about your offer. It will also help you avoid disappointment if you lose out on a house while getting your finances in order.  It is also a good idea to go into homes with a strong idea of what you really want, take plenty of notes and ask the questions that will determine which property is the right one for you.


While the house prices are enjoying a high now, experts caution that they may slow by the summer and this strong quarter may not be indicative of what the rest of the year may bring to the market.


Seller’s market or buyer’s market, the best news is that the Calgary real estate market is strong and doesn’t show any signs of wavering. Re-sells and new builds are constantly coming onto the market, a sure sign that the city is thriving.
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            <pubDate>Wed, 08 May 2013 11:13:35 -0600</pubDate>
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            <guid>http://www.calgaryrealestate.pro/blog/calgary-arts-and-theatre.html</guid>
            <link>http://www.calgaryrealestate.pro/blog/calgary-arts-and-theatre.html</link>
            <author>info@calgaryrealestate.pro (Carlos Montes)</author>
            <title>Calgary Arts and Theatre Alive and Well in 2013</title>
            <description> <![CDATA[ 



The theatre scene is alive and well in the city of Calgary, with performances that will delight serious theater goers and newbies alike while fostering a greater love for the arts no matter your personal tastes or style. From serious offerings from the Alberta Ballet and the Calgary Opera to lighter fare offered from Theatre Calgary and The Lunchbox Theatre, the city is alive with the buzz of creativity and the passion of performing.


The Alberta Ballet is in the midst of its 46th season and brings to life some of the most beloved ballets of all time, incorporating two hundred singers and 31 acclaimed dancers from around the world into their programmes. The spectacular Madame Butterfly can be seen September 26-28th 2013 while one of the greatest choreographed spectacles of the century can be seen in Sleeping Beauty which runs from October 31-November 2. The Nutcracker, the Christmas staple ballet can be seen from December 19-24.


For something a little different, the Alberta Ballet is showcasing one of Alberta’s own, k.d. lang in a performance centered on her greatest songs, to bring an interesting mix of dance and music to the stage. This can be seen May 9-11, 2013.  


The schedule is already set for dates in 2014 where performances of Ailey II (Feb. 20-22) and Gisele (Mar. 20-22) will take to the stage before another ballet centered around mainstream music, this time the music of the legendary Joni Mitchell, is featured May 1-4, 2014. The Calgary Opera was founded in 1972 with a single mission “To engage our audience and enhance our community through the magic of opera”. It does just that with performances at the Southern Alberta Jubilee Auditorium where La Traviata takes to the stage on April 20, 24th and 26th 2013 and Otello is staged on November 17, 21, and 23rd, 2013.


Theatre Calgary has a long history of bringing contemporary, modern and classic plays to the stage with performances that can be enjoyed by the whole family. This season they are staging Gods of Carnage March 12-April 7th and the wonderfully Canadian Anne of Green Gables from April 23-June 2nd.  Each year Theater Calgary also stages Shakespeare in the Park, a donation-only outing that is performed on Prince’s Island Park downtown. This year’s play is Romeo and Juliet and it runs certain dates, still to be determined, June through August. Nothing says summer in the city quite like catching a performance of Shakespeare in the Park; a family friendly and entertaining night out.


If your tastes in the arts are more hands-on, Calgary, and more specifically the National Music Center is the place to be. Public tours run on Thursdays at 6pm and on Sundays at 1:30 and 3pm to see the over two thousand artifacts from the world of music that are on display, and musicians can also try out some of the obscure and interesting instruments that are part of the site. On March 29th at 8pm the center welcomes Efa Etovoma, Jr., an emerging artist in the Summit Jazz Series and on April 18th the center is hosting a book launch for Glenn Dixon’s new work Tripping the World Fantastic-A Journey through the Music of our World.  


Always up for something out of the ordinary, The EPCOR Center for the Performing Arts welcomes a wide range of productions for the 2013/14 season. Celtic Crossroads brings its eclectic mix of Irish dancing and music to the center on March 22 for a lively foot stomping show while the gears change on April 20th as the center hosts Intergalactic Nemesis, a live action graphic novel performance. Three actors and a Foley artist hit the stage for this show that blends their words and sound effects with illustrations beamed onto a giant screen. April 3-6 is when the Alberta Music Series takes center stage, with homegrown musical talents in the form of indie rock, mixtape performance, roots rock and popart sharing their inspirations and music.


If jazz is your thing, you won’t want to miss the amazing Esperanza Spalding as she takes to the stage to promote her latest release. Her journey through big band swing, funk and soul is sure to be a treat for the senses. She takes to the stage on June 26th. If you are new to performing arts, the Lunchbox Theatre can give you a taste for a production in a smaller dose. They stage one act plays like Scarlet Woman from March 4-24, Monday-Saturday at 12:10pm, perfect for a lunch date. If I weren’t with you is their next presentation, and it runs at the same times between April 1-20, 2013. If you can’t make it there for lunch, don’t worry, the shows repeat at ‘Happy Hour’ Fridays at 6:10 and for ‘Date Night’, Saturdays at 7:30pm.


Calgary has long been a great place for the arts. Theater is alive and well, in all its forms, so whether you are a seasoned patron of the arts or simply have a curiosity, there is always something sure to capture your imagination.
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            <pubDate>Thu, 07 Mar 2013 18:24:02 -0700</pubDate>
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            <guid>http://www.calgaryrealestate.pro/blog/skating-in-calgary-alberta-take-to-the-ice-and-glide-on-through-winter.html</guid>
            <link>http://www.calgaryrealestate.pro/blog/skating-in-calgary-alberta-take-to-the-ice-and-glide-on-through-winter.html</link>
            <author>info@calgaryrealestate.pro (Carlos Montes)</author>
            <title>Skating in Calgary, Alberta- Take to the Ice and Glide on through Winter</title>
            <description> <![CDATA[ 
 





Winter is upon us, bringing with it its unique opportunities to get out and enjoy what it has to offer. Sure, it may be cold, but it is also a magical time, full of glittering snow, gleaming icicles and rosy cheeks. For Canadians, winter is a time for many outdoor pursuits, things like skiing, snow shoeing, ice skating and games of pick up hockey mark the season. Enjoying the freedom that gliding over frozen water affords us is a part of winter that is enjoyed by young and old alike, and makes for family entertainment that won’t break the bank.


Ice skating doesn’t require any special skills, well, maybe a bit of balance helps, but even beginners can enjoy their time on the ice, and in Calgary there are no shortage of places to skate. The city is home to many outdoor rinks some of which, like Bowness Park Lagoon, Carburn Park, Olympic Plaza, Prince’s Island Lagoon and Prairie Winds Park are maintained by the city. The rink at Bowness has skate rentals and a café for a little warm-up when needed, and what could be grander than skating where the 1988 Olympic medal presentations were held? Olympic Plaza offers just that, and is the only refrigerated outdoor ice surface in the city, right in the heart of downtown. Heritage Park offers an interesting take on outdoor skating with their artificial melt proof rink that is located just outside of the main entrance.  Here you can experience outdoor skating without the watery mess during milder days and it has no admission costs.  


Volunteer groups maintain a plethora of other outdoor rinks that are sprinkled across the city, meaning you’re never too far from an outdoor rink, whether you want to play a game of pick up hockey or take the kids out for some fresh air and fun. Outdoor rinks are free for anyone to use, and are in operation from mid-December to February, weather permitting.For those wishing to skate inside, the city offers a wide array of choices with its 12 arenas and 19 ice pads. Although you have to pay to skate at an arena, the admission prices are low and there are plenty of warm spots out of the weather in which to relax. The Trico Center is open year-round for skaters and has two full sized rinks, while skating at the Southland Leisure Center allows strollers to be on the ice during the parent and tot skate so the little ones don’t miss out on the fun. Cardel Place also offers times for public skating, as do the many other arenas around town. For something a little different there is open skating offered at various times during each month at the Olympic Oval, where you can take to the 450m track to test your skills or just take a leisurely glide around the site of the speed skating events at the 1988 Games.


Of course, the outlying communities of Airdrie and Okotoks also have many great places for skating. Airdrie offers the natural ponds located in Nose Creek Park, Summerhill and Waterstone parks where skating can be paired with snow-shoeing or cross country skiing.  For pick-up games of hockey or shinny, outdoor rinks with snow banks like those located in Town and Country Park, Fletcher Park or near the Plainsmen Arena fit the bill. Airdrie also has outdoor rinks that are boarded for more structured games and public skating; these are located in Bayside, East Lake Park, Chinook Winds Park and Big Springs. The Plainsmen Arena and the Rob Ebbesen Arena also have public skating in their indoor ice pads at various times during the winter, some of which have free admission. Down south in Okotoks the town boasts five outdoor skating rinks to enjoy, including the Centennial Arena site, Cedar Grove Park and Ardiel Park and have two arenas, the Murray and Piper Arenas (where public skating is a mere $1 per child and $2 per adult) and the Pason Centennial Arena.


If you’re really looking for a neat day trip to skate, there is always Lake Louise, in beautiful Banff National Park, where you can skate amid the beauty of the Victoria Glacier, and if that weren’t enough, take in the ice sculpture of the castle that is created each season right on the lake. Warming stations, benches and skate rentals are all available, as is a separate area complete with nets for a game or two of hockey. On the way home, if you’re not too tired, you can check out the night skating available in the heart of Canmore at the aptly named The Pond, don’t worry if you don’t have skates, you can rent them nearby.


Like winter, the outdoor skating season is over all too quickly, but with so many rinks to enjoy, both indoors and out, you will never be at a loss for a place to take to the ice. 
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            <pubDate>Wed, 20 Feb 2013 21:12:27 -0700</pubDate>
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            <guid>http://www.calgaryrealestate.pro/blog/lake-louise-ice-magic-festival.html</guid>
            <link>http://www.calgaryrealestate.pro/blog/lake-louise-ice-magic-festival.html</link>
            <author>info@calgaryrealestate.pro (Carlos Montes)</author>
            <title>Lake Louise Ice Magic Festival 2013</title>
            <description> <![CDATA[ 
 





 (All Pictures taken by Carlos Montes in 2012)


 


There are few places on earth more majestic and inspiring as Banff National Park. Towering snow-capped mountains give way to cosy town sites and offer a plethora of activities the year round, but there is something magical about winter, when the park takes full advantage of the ice and snow and becomes a giant playground for a celebration of the season.


The Lake Louise Ice Magic Festival is the centerpiece of the park’s SnowDays celebration and the annual event that takes ice carving to soaring new heights, literally. Held this year (2013) from January 18-27, it sees the two weekends filled with activities centered in and around the spectacular art of ice carving, where 24 of the world’s best in their craft gather to create their stunning works.


The teams of two will take to the surrounds of Lake Louise on the weekend of January 18-20 and within the 34 hour competition time frame will transform massive 300 lb. blocks of ice into sculptures centered on this year’s theme of ‘Carve a Song’. The carving rules are pretty simple; no sculpture can be over 13.5 feet tall, but they must be over seven feet in height, and of course, all designs must be original and within the confines of the theme of the year. This is the 19th year of the Ice Magic Festival and if past sculptures are any indication, visitors are in for a stunning display.


The weekend of the 18-20th also allows visitors to witness a ‘One Carver, One Hour, One Block’ competition, a speed carving demonstration that is held on Saturday, January 19th at 2:30pm. Here single carvers showcase their talents and compete for prizes in the fast-paced competition where anything goes. See smaller blocks of ice literally transformed right before your eyes as these masters work their magic. There are also horse drawn sleigh rides,  ice carving demonstrations at noon on both Saturday and Sunday, a judge carve-off and ice skating on Lake Louise each day to occupy you as you keep tabs on the artwork being gleaned from the towering hunks of ice. Roving interpreters are always on hand to answer any questions you may have about the festival and are a wealth of information on not only the carving, but the park as well.


January 26th and 27th is another fantastic weekend in Banff National Park as the fun shifts from chainsaws to family. The Little Chippers Weekend is a family friendly affair dedicated to the little ones in your life. Not only can you marvel at the previous weekend’s finished pieces, but visit an ice playground, explore an ice tunnel or two and take to the ice slide for a real winter wonderland experience. There is skating on the lake, chances to meet the Ice Queen and an ice mini golf course that will be sure to elicit smiles. There are also lessons on how to carve ice and the science involved within the art, as ice is a medium unlike any other with which to work. The indoor activity center is a place to warm up and get out of the cold for a little while, and of course, there are always plenty of opportunities to take sleigh rides, a snowy hike or try your hand at snowshoeing or cross country skiing amid the beautiful surroundings.


The Lake Louise Ice Magic Festival is hosted by the Chateau Lake Louise and offers us a fascinating glimpse into the art of ice carving, where power and beauty work as one to offer up pieces that look like they were created from glass. If you have ever seen an ice sculpture and wondered what completing it entails, this is the festival for you to discover all of the secrets for yourself. The admission to most of the events is covered with your payment upon entering the park but don’t worry if you can’t make it out the next two weekends, visitors to the park and Chateau area can see the art on display for weeks after the events, such is the beauty of winter as the cold temperatures keep the works of art in their original breathtaking form until the thaw.
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            <pubDate>Wed, 16 Jan 2013 19:42:23 -0700</pubDate>
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            <guid>http://www.calgaryrealestate.pro/blog/top-calgary-okotoks-news-stories-for-the-first-week-of-2013.html</guid>
            <link>http://www.calgaryrealestate.pro/blog/top-calgary-okotoks-news-stories-for-the-first-week-of-2013.html</link>
            <author>info@calgaryrealestate.pro (Carlos Montes)</author>
            <title>Top Calgary &amp; Okotoks News Stories For the First Week of 2013</title>
            <description> <![CDATA[ 
Calgary Sets a Record with Million Dollar Homes


With 9001 homes in Calgary worth one million dollars or more, the city has set a new record, according to the 2013 property assessment numbers. The previous high for the city, 8262, was set back in 2008, before the economic downturn.


In 2012, homes valued at over one million numbered only 7997, meaning the numbers for 2013 show a 13% increase for these single family homes.


The number of condominiums that were assessed at being worth over one million dollars also rose from 2012, and now number 455 up from 392, but they still trail the old record set in 2008 which saw 682 such properties on the market.


These properties are found throughout the city, with the Pump Hill mansion owned by Alfred Balm being named the city’s highest assessed home for the sixth straight year. His property is worth $19,790,000. The next most expensive home in town is in Aspen Woods and is worth a cool $9,030,000. Rounding out the top five are two properties in Elbow Park and a home in the Hounsfield Heights/Briar Hill neighbourhood that comes in at $7,870,000.


So what can Calgarians expect to get for their $1 million? Experts say that one million will buy you about 2800 sq. ft. in a contemporary attached home with high end finishes. If you would rather your home be detached with a nice sized lot, the price will jump to $1.3 million and climb from there. After the price point of $2 million, homes can feature indoor pools, imported stones, tiles and fixtures and just about anything else you can imagine that make your home unique.


Last year, the real estate market went from being a buyer’s market to being a more balanced market which shows strong growth in all sectors. A strong economy, growth of employment, immigration to the city, and growth in income are all good indicators of a strong real estate market.


 


 


Water Woes for Okotoks


The town of Okotoks is growing; making it more like a city than a sleepy community these days, and with its growth is the need for new roads, schools, libraries, recreational facilities and, oh yes, water.


 In a report that looked at population numbers from 2006-2011, Okotoks was the fastest-growing census area (of between 10,000 and 100,000 people) in the country, with a spike in population of 42.9% in 2006 alone. The number of residents who currently live in the town is currently at 25,500.


The town has enough water for 27,500 residents, and because the longstanding resident cap of 30,000 has recently been lifted, it will mean water woes down the road as the population continues to increase. As it stands now, residents use 295 L of water per day and have tight restrictions on their water usage. Although most of the water is treated and returned to the Sheep River, the only water source for the town, people are still concerned that their restrictions and conserving methods won’t be enough.


In 2006 the province moved to stop new water licenses from the South Saskatchewan River Basin, of which the Sheep River is a part, leaving Okotoks buying up existing licenses and looking for other solutions to the water problems it faces now and in the future. The council is looking into new ways to conserve water and working with its neighbours in High River and the Municipal District of Foothills to explore other options. If they are successful at finding a sub-regional solution, they won’t have to build a pipeline from Calgary which would not only be costly, but would see an increase in energy costs as well as tying Okotoks into the Calgary water supply.


With Canada ranking second in the world in per capita water usage, something has to be done soon to ensure the residents of Okotoks have the water that they need as they continue to grow.


 


It’s looking like a Happy 2013 for Calgary Homebuilders


The builders and developers of new home projects in the city are happy with the way the residential market went in 2012, and they’re looking forward to a great 2013 as well. Calgary is still an appealing place to live and that isn’t likely to change anytime soon.


This year, WestCreek Developments is expected to open their first phase of Legacy, a new community in the south of the city that has 6500 homes set on 405 hectares.


Planning is also taking place this year on the new Hopewell Residential Communities project named Hotchkiss after philanthropist and business leader Harley Hotchkiss, to be located in the southeast of Calgary. Lesley Conway, the president of the Hopewell Residential Communities says that 2012 was the “best year yet” citing the new project that was announced last year and the projects they took on in Airdrie, Edmonton and Calgary in 2012, most notably the new Mahogany and Copperfield communities in Calgary’s southeast quadrant.


The home market today is consumer friendly, where homebuyers see a strong market and therefore gain confidence in moving or getting that first mortgage secured.


Each year since 2009 has seen Calgary’s housing starts increase, but it is predicted that this year housing starts will ease off as much as 4%. Some reasons for this include the fact that construction costs are rising, there is a shortage of skilled labourers to get the jobs done and getting approvals from City Hall are taking too much time.


 Builders are hoping that more skilled workers will arrive looking for jobs, that the government will loosen restrictions and modify guidelines to show that carpenters can also be cribbers and framers, and that retiring workers will get replaced. A group of builders recently donated money to the SAIT Polytechnics Trades and Technology school where three new facilities are up and running to expand programs for those interested in carpentry trades. They are also hoping that City Hall comes up with better ways to manage and process applications so that new communities can be put up with less hassle, something that has been promised to be looked at by council.


Although the housing starts will be decreasing this year, the city of Calgary is still growing and plenty of new communities are on the horizon.
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            <pubDate>Mon, 07 Jan 2013 18:02:01 -0700</pubDate>
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            <guid>http://www.calgaryrealestate.pro/blog/home-prices-dropping-across-the-country.html</guid>
            <link>http://www.calgaryrealestate.pro/blog/home-prices-dropping-across-the-country.html</link>
            <author>info@calgaryrealestate.pro (Carlos Montes)</author>
            <title>Home Prices dropping across the Country</title>
            <description> <![CDATA[ 
If you are in the market for a new home, now may be a great time to look as the Teranet-National Bank House Price Index shows prices fell in 10 of 11 major markets across Canada in November over their prices in October.


It is the fourth November decline in 13 years of the index, and while most markets reported a 0.4% decrease in prices this year, the city of Calgary showed an increase of 0.4% to be the only major market of those studied to do so.


Toronto and Halifax had their second consecutive monthly drop, and prices were also down in Edmonton, Hamilton, Winnipeg and Vancouver. Victoria and Quebec City showed drops for the fourth straight month while Montreal and Ottawa showed decreases for the third straight month.


The cooling housing prices may have something to do with Ottawa’s tightening of rules dealing with mortgage lending which negatively impact home prices, but it is not all bad news. The Teranet-National Bank Index shows Canadian home prices have actually risen by 3.3% overall for the year 2012, but the annual price growth has slowed for those same 12 months.


The Canadian Real Estate Association recently released its own report on home prices, which saw national sales decrease 12% over the past year while the average home prices have also dropped by about 1%.  Analysts fear that we are in for yet another drop in prices for 2013 with big city condos being especially vulnerable, which may be good news if you’re in the market for that new home.
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            <pubDate>Wed, 26 Dec 2012 10:01:14 -0700</pubDate>
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            <guid>http://www.calgaryrealestate.pro/blog/pub-in-old-fire-station-has-an-uncertain-future.html</guid>
            <link>http://www.calgaryrealestate.pro/blog/pub-in-old-fire-station-has-an-uncertain-future.html</link>
            <author>info@calgaryrealestate.pro (Carlos Montes)</author>
            <title>Pub in old Fire Station has an Uncertain Future</title>
            <description> <![CDATA[ 
Since 1996, the Hose and Hound pub has been housed inside an old fire station in the neighbourhood of Inglewood, but now the city is looking to sell the heritage building, which may see the pub have to move--if the current owners can’t buy the building.


The fire station itself has been put on the list for disposal so that the city can take the money from the sale and use it for the upkeep and maintenance on other heritage buildings that are being used by the municipality.


Heritage buildings are protected by law and are not allowed to be demolished, no matter who buys them and any changes to the heritage aspect of the building must be approved by the city.


The owners of the Hose and Hound right now have a deal with the city for lower rent in return for them paying for the maintenance and upkeep of the building, something that has seen them sink almost a quarter of a million dollars into. The fire station is assessed at $1.49 million and the current owners are disappointed at the decision to sell, but are hoping the city gives them the right of first refusal to buy the property outright.


The dedicated staff of the pub, the many loyal patrons, the fact that the pub has been a dream tenant for years and how the pub has become an integral part of the community are all factors that the current owners think the city should consider when they place their bid.


Heritage buildings that are on the disposal list are those that are not used by the municipality, but instead by private entities, like the pub. Upon selling these buildings, the city is no longer required to pay for their upkeep, something that runs in the millions of dollars each year.
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            <pubDate>Fri, 21 Dec 2012 14:51:50 -0700</pubDate>
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            <guid>http://www.calgaryrealestate.pro/blog/new-annex-promised-for-the-subway-soccer-center.html</guid>
            <link>http://www.calgaryrealestate.pro/blog/new-annex-promised-for-the-subway-soccer-center.html</link>
            <author>info@calgaryrealestate.pro (Carlos Montes)</author>
            <title> New Annex Promised for the Subway Soccer Center</title>
            <description> <![CDATA[ 
It’s great news for the budding soccer superstars in Calgary as the city has agreed to finance the much needed annex to the Subway Soccer Center. The four new indoor fields will cost in the neighbourhood of $11 million. With $5.23 million coming from the city, and the other $5 million to come from a financing strategy that is currently under development, the new expansion is on track to be built as soon as possible, easing up the current logjam of teams and players looking for a place to play and practice in the cold weather months.


When the dome of the Soccer Center collapsed in 2010, the Calgary Soccer Federation, who has operated the facility for the past twenty years didn’t re-inflate it due to safety concerns, which forced teams to find other places to play. The new annex, due to take between 8-10 months to build, will be on land the city already owns, located at 7000 48th Street in the Southwest.


The city agreed to pay for the new complex to address the growing need for indoor soccer facilities and because the Calgary Soccer Federation wasn’t able to fund the project alone. They did raise $700,000 for the cause, even though their license to operate the facility will expire at the end of the year.


Council is currently looking at proposals from all groups interested in operating the new facility. The Calgary Soccer Federation can re-apply and is expected to throw their hat into the ring shortly, as they are concerned that if another group takes over current staff may not be guaranteed their jobs and they may lose being the primary user of the facility, therefore losing revenue that they pump back into their soccer programming. Council has promised to review the  current operation of the Center and review all new offers, choosing the one that will be the best fit for the facility.


When the current licence expires on December 31st, the city and the Calgary Soccer Federation will work together to ensure a smooth transition for the many teams that use the complex until the end of the current indoor season. They all want the players and teams that have commitments in the Center to carry on as usual, no matter how the licensing scenario plays out.
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            <pubDate>Sat, 15 Dec 2012 16:16:21 -0700</pubDate>
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            <guid>http://www.calgaryrealestate.pro/blog/low-interest-rates-are-a-risk-to-financial-stability.html</guid>
            <link>http://www.calgaryrealestate.pro/blog/low-interest-rates-are-a-risk-to-financial-stability.html</link>
            <author>info@calgaryrealestate.pro (Carlos Montes)</author>
            <title>Low Interest Rates are a Risk to Financial Stability</title>
            <description> <![CDATA[ 
While many people like low interest rates, the Bank of Canada warns that they are only adding more risk to the already stressed global economy. The low rates are taking their toll on banks, insurance companies and pension funds and even investors who have to take on more risk in their quest for higher returns on their investments. So, while low interest rates may seem like a good thing, for the long term, they will only cause further fervor in the housing market and higher levels of consumer debt.


Increasing the interest rates isn’t a good option, either as that will help to weaken the already fragile economy. Higher risk-taking behaviour was the catalyst behind the economic downturn in 2008-2009 which no one wishes to repeat, so keeping the rates low seems to be the lesser of two evils.


Banks, insurance companies and pension funds are trying to find ways around the low rates in order to keep their profit margins up, because now companies are re-investing cash at lower yields than previously thought, which is not good for their bottom line. Insurance companies and pension funds are limited in their risk-taking behaviours, while investor tolerance for risk is increasing globally as people seek higher returns in the long run.


Globally, the financial risk remains high, with superpowers like the United States and China also easing their rates, and although global conditions have improved in the last half of this year, the level of uncertainty remains high.


The United States and its looming ‘fiscal cliff’ could have ramifications on global markets should it not be resolved, further undermining the fragile state of affairs, even though right now, Canada’s financial system is quite solid, low interest rates and all.
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            <pubDate>Tue, 11 Dec 2012 05:53:18 -0700</pubDate>
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            <guid>http://www.calgaryrealestate.pro/blog/retaining-profits-spurns-new-ideas.html</guid>
            <link>http://www.calgaryrealestate.pro/blog/retaining-profits-spurns-new-ideas.html</link>
            <author>info@calgaryrealestate.pro (Carlos Montes)</author>
            <title>Retaining Profits Spurns New Ideas</title>
            <description> <![CDATA[ 
With interest rates low and not predicted to go any higher in the near future, it is up to banks to come up with other ways to maintain their profit margins. Not that banks are crying poor, in fact it is far from it, as TD, CIBC and the National Bank of Canada all posted profits recently. TD’s $1.6 billion for the fourth quarter, CIBC’s $852 million and the National Bank’s 20% increase to $351 million may look like a lot, but in fact, with the interest rates being so low, banks have to explore other areas, and expanding their wealth management sectors seems to be a popular approach.


The TD bank recently paid $668 million to acquire Epoch Holdings; a move which they believe will bolster their wealth management strategy in Canada and also be a big part of their wealth management strategy in the United States.


With the low interest rates it is not only the banks that are feeling the ‘pinch’ but pension funds and insurance companies as well, as they are re-investing cash at lower rates, something the Bank of Canada is concerned with.  They are wary about the changes the companies are making, which may make them venerable to even more losses down the road and the higher gambles the companies may make may not pay off in the future. Some of these gambles are re-defining products, eliminating products or charging more for certain products in an effort to keep their profit margins up.


Although the banks seem to be retaining a hefty profit, analysts say that such profits may not be sustainable as they are known as ‘lower-quality’ earnings, derived from cost cutting or lower taxes, not reliable revenue growth like they would see in their lending practices. With the lower mortgage growth expected to continue into the New Year, banks are expected to see slower profit growth, forcing them to come up with new and unique ways to retain those high profit margins.
 ]]> </description>
            <pubDate>Sun, 09 Dec 2012 21:08:15 -0700</pubDate>
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