Realtors Confident Calgary will Dodge Downturn!

Oh my, where has this summer gone to?
I can't believe that we only have 2 more weeks before school starts.
I feel like I haven't done anything this summer...okay may be we have done a few things...

I was in Saskatoon for the first time for my girlfriend's wedding.  It was a fun time! We danced to country music all night long, except at the end when Emma requested 'Lady Gaga' so the DJ entertained her request and played a song for before we left for the hotel.

This was the time that our car 'engine light' came on, and we ended up in Saskatoon for 4 more days than we planned.  Thanks to our friends, we must have tried ALL the Chinese resturants in Saskatoon.  The kids had fun but we could have spend our 'days off' somewhere else instead....

We then headed to Shuswap for our camping trip in a TENT!  Yes, we did it with the kids in the 'TENT'!  We roughed it, but we did have running water showers.  We had a blast!  The kids had fun and it was HOT everyday.  However, after 3 days of it, we had enough and we headed home.  The drive was long, with a stop for over an hour due to an accident on Hwy 1! A normal 7 hours drive with kids turned to a 10 hour drive home.  My husband was not impressed!  To Anna (see picture), the best part of camping was eating gigantic marshmallows!

I can tell that many are back from summer vacation because activity is definately picking up again!  My phone is ringing off the hook with enquires. It's time to take action to think about what dream home you want to spend your Christmas in!!

This week's article:  'Realtors Confident Calgary will Dodge Downturn!'
http://www.calgaryherald.com/business/Realtors+confident+Calgary+will+dodge+downturn/7060591/story.html

Enjoy and call me for that 'pre-approval' today!

Have a great week!

Prospects for Housing Starts positive for Calgary!

Happy Monday Everyone!

We had a busy weekend cleaning up around the house...and enjoying the beautiful summer days.

It was not until Saturday night that I remembered that I am celebrating my 25th year in Canada ... on July 21st! 

It's hard to believe it was that many years ago!

Emma finished her 1st of a many summer camps!  I enrolled in the 'Mad Science Summer Camp' last week and today she started her 'Zoo Camp'!  I am excited for her as I missed out the opportunites to go to summer camps when I was young.  Here's a picture of her getting ready to go into the zoo.....

Traditionally, the summer months are a quiet months in the Calgary Real Estate Market, but this year it is the total opposite of the norm.  The real estate market continues to be busy and homes are going, going, gone....

http://www.calgaryherald.com/business/Prospects+housing+starts+positive+Calgary+region/6964520/story.html

Interest rate remains to be low....

Call me today and obtain a pre-approval!

Get out there and search for that perfect home before it's gone!

I work with many reputable and experience realtors in Calgary, so call me if you need any assistance at all.

Enjoy this beautiful (and weird) weather!

Yee Haw!! Calgary House Sale activity sparks memories of 2007?

Happy last weekend of Stampede!

Hope you are enjoying our 100th year of celebration.

As usual, we made our way to the Stampede parade on Friday morning. This year, we had great seats, (Thank You Tom). We had our own private balcony with prime a view!

I also had the opportunity to watch the Chuckwagons and the Grandstand show on Sunday night. It was THE BEST! Paul Brandt was awesome and the show was spectacular.

We took the kids to the Stampede ground on Wednesday and we had so much fun! The weather was hot and it was perfect for our outing.

Now with the new change of the mortgage rules, here are a few clarifying points that you need to know:

. Conventional mortgages remains at maximum amortizatoin of 30 years (ie. 20% or more downpayment)

. maximum ratio qualification of GDS 39% and TDS 44% only applies to High Ratio mortgage (ie. <20% downpayment) I have not noticed any changes to the market with the new mortgage rules. I expect interset rate to remain the same as this makes qualification as easy as before. Check out this news article. The Calgary market is as strong as ever! http://www.calgaryherald.com/business/real-estate/Calgary+house+sale+activity+sparks+memories+2007/6875505/story.html

If you have any questions, please send me an email or give me a call.

Enjoy the rest of the Stampede! as we celebrate the 100th year of the Greatest Outdoor Show on Earth!

Yee Haw!

Round 4....change in mortgage rules

Welcome to first full day of Summer!

Yeah, does that mean we will now start having less rain??

Our "summer" has already started for us. Emma finished her last day of Kindergarten yesterday. We had a little party at school and said 'fairwell' to her little friends and teacher, as we will be moving on to a different school in the new year.

Her summer schedule is already packed with different classes - thanks to me, she is in various summer camps, doing things that she normally does not get to do during the rest of year.

First day of Summer also brings the announcement of the NEW MORTGAGE RULES that will take place on July 9, 2012.

Here's the summary of the changes:

1. Amortization reduced from 30 years to 25 years

2. Refinancing limited to 80% ( this will have limited affect on customers, as many already do that)

3. Properties purchased at over $1 million no longer eligible for mortgage insurance

4. reduction of the qualification ratios. GDS and TDS set at 39% and 44% respectively

http://www.theglobeandmail.com/report-on-business/economy/housing/ottawa-tightening-mortgage-rules-no-more-30-year-amortizations/article4358876/

http://www.fin.gc.ca/n12/12-070-eng.asp

I don't foresee this affecting many of my clients.
However, if you are looking to buy the TOP DOLLAR amount of home that you qualify for, then please call me ASAP so I can assist you in the next step.

Please call/email me at 403 862 7111 or stella@stellatsang.ca if you have any questions.

Have a great weekend!

Calgary Real Estates sales lead the country!

After a rainy and cool shortened work week, I am excited to be back and energized to work.

I always look forward to the annual Lilac Festival!
This year, we decided to head down to 4th Street early and beat the crowd. It was still pretty busy and was even busier when we left.
It was definitely chilly out, and we bundled the kids up with layers of jackets. There was a lot of "foodie goodies" this year and we got to taste a few of the yummy food offerings.

Here's a picture of the kids enjoying a woodburnng pizza.

The market continues to be hot and here's an article that talks about it.

http://www.calgaryherald.com/business/real-estate/Calgary+real+estate+sales+growth+leads+country/6623311/story.html

Here's 5 tips for 1st time homebuyer:

http://www.moneyville.ca/blog/post/1179095--5-tips-for-first-time-homebuyers

Enjoy your week! I can't believe June is almost here!

40 year amoritzation is now gone!

It looks like it's a beautiful day outside!

I spent the weekend with a lot of enthusiastic Toastmasters, and was inspired by many speakers and learned lots as well, attending the District 42 Toastmaster Spring conference in Calgary. Congratulations to Darlene who won the International Speech Competition and will be competing in Florida against competitors from the rest of the world. I hope I can achieve that level of excellence someday....

The real estate market continues to be hot, and there are also many changes happening in the mortgage market.

It was annouced that Tuesday was the LAST DAY for the 40 year amortization mortgage! It was a good tool to be able to use a 40 year mortgage if you were buying a rental property, because of the reduced payment that would allow for positive cash flow. From here on, the maximum is 35 years.

I have also found this interesting article that I thought you might enjoy. I agree with almost all of this article, except the amortization part. I strongly believe in obtaining the longer amortizatoin and increasing your payment. This way, should you ever want to decrease your payment due to unforseen financial challenges, you can always to do so. Call me and I can help you with the best strategy to make your mortgage work for you.

http://www.moneyville.ca/article/1167756--5-costly-mortgage-mistakes

It's been almost a year now that I noticed mortgage insurers, especially CMHC, are very careful with a 5% downpayment application. Perhaps this is the reason....

http://business.financialpost.com/2012/04/27/cmhc-could-be-pulled-out-of-mortgage-insurance-business-flaherty-says/

Happy Mother's Day! and enjoy the weekend!

Bank of Canada rate unchanged, but hinted that interest rate may rise sooner....

We have done lots these last few weeks!

Little Anna survived her first series of swimming lessons! I think I will hold off on anymore lessons for now, until she is a little older?? (not really sure if it's a good decision or not)

We finally visited the zoo on Easter Friday and we lined up for 45 mins to see the penguins! We loved it! The penguins are soooo cute! We spent the full day at the zoo, with games, face painting and of course - Chocolate eggs!

Thanks to my husband, I finally tried the 'Five Guys Burgers'! It was a BIG meal. We only shared a hamburger and french fries and we were full with left overs to take home. I was afraid to look how many calories it contained, as I am sure my bootcamp instructor, Kate, would not have agreed with my choice of restaurant!

The Bank of Canada kept it's lending rate unchanged, but hinted that interest rate may rise sooner than you think.

http://www.bankofcanada.ca/2012/04/press-releases/fad-press-release-2012-04-17/

So, is it time to lock in?

http://www.moneyville.ca/article/1160077--time-to-lock-in-your-mortgage-experts-say

Call me if you want to discuss what's the right option for you.

Thanks and have a great week.