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Calgary Real Estate Forecast 2018

Welcome to Renzo Real Estate's quick recap of The Calgary Real Estate Board's (CREB) Forecast for 2018. This year is expected to be very similar to 2017 with modest growth. 

Throughout the forecast, CREB's highly regarded, chief economist, Ann-Marie Lurie, highlighted that we are on a "bumpy" recovery. The ups and downs of the real estate market are no stranger to Calgarians, however, this recovery is expected to be much more gradual than in previous years. 

This is perfectly displayed in net migration patterns. Net migration is one of the strongest indicators of price growth in real estate markets. Have a look at Calgary's expected net migration. 

Calgary Net Migration

In 2010, there was a sharp decrease in net migration and sales eased dramatically, but look at the instant rebound in 2011. 

In 2016, there was another year of negative net migration, but the growth is telling a different story than in previous cycles. This points to the bumpy recovery path. 

CREB also drew attention to the changing mortgage rules and rising interest rates. Ann-Marie Lurie indicated that this could cause an increase in sales for the entry-level homes and attached sector. That said, the apartment sector is expected to continue to ease as the inventory levels are very high and more product is expected to come on the market in 2018. 

Have a quick look at the Calgary Real Estate Forecasts Recap for 2018

Download the full report

Watch the quick recap below. 

REALTOR®-ing at Stampede

So you are a Realtor with a cowboy hat on for the week? Let's see what can be done to turn some of those mini donuts into real estate deals.

Calgary Stampede

Here are five things every real estate agent can do over the next ten days to be a productive cowgirl/cowboy! 

Now, we know that dreaded feeling of walking into an event, not knowing anyone and feeling like a sleaze ball trying to sell something. Worry not, use these two simple tricks, and you will be rocking it. One, go into the event with zero expectations to come out with business. Actually, forget about business altogether and focus solely on making friends! Two - and it ties into the first tip - in making conversation, make it all about them! They feel uncomfortable too, so make them feel great by complimenting them on their hat and asking about their stampede plans. 

Calgary Stampede

1. Attend your Community Pancake Breakfast. This is your chance to strut your stuff and chat real estate with members of your community. Remember the two networking tips - no expectations and make it all about them! 
Bonus: Most haven't been drinking yet so you can have a coherent conversation! 

2. Seek an event with a focus on a cause. Are you vegan? There is a pancake breakfast for you. Enjoy spending time with kids? How about a KidSport event. Are you politically inclined? How about attending the premier's breakfast.  Whatever your thing, there is likely an event around it!

3. Attend Realtor Round Up. We text, call, and email all day but rarely do we all get together to have a cocktail and strengthen our connections in the industry. Don't miss the Realtor Round Up! This year the event takes place on July 14th at the Cowboy's Tent.

4. Come away with a story. In a couple of weeks you will hear, "so what did you do for Stampede"? Be prepared for this and come away with a story or two. No no no, this doesn't have to be shenanigans. How about you try the food: World's Hottest Pizza, Unicorn Hot Chocolate, Waffle Taco. Or you checked out the Grandstand Show or a concert. Do something (*safe*) where you can tell the story afterwards.

5. Say Yes to your friends. Friends are going out for a night? Go out with them for a night of fun! Yes, your friends already buy and sell with you but there will certainly be more people for you to meet in the group. Next thing you know, you will be selling your friend's, friend's, friend a house!

Have some fun this year and build those connections! Yee-haw! 


 

Weekly Calgary Real Estate Tips? Yes, Please!

PRESS RELEASE: Renzo Real Estate will bring Virtual Reality Experience to Calgary Buyers and Sellers

Virtual reality is a powerful new tool that allows buyers to feel like they are actually walking through the property and effectively permits the seller’s home to become a 24/7 open house” says Broker, Michael Montgomery.
— Michael Montgomery, Broker Renzo Real Estate

CALGARY, AB - Michael Montgomery and Willemina Montgomery have just opened the doors to Renzo Real Estate, a Calgary based boutique real estate brokerage, focused on using technology solutions to market homes like never before. The first of it’s kind in Canada, Renzo Real Estate is using virtual reality for every transaction to supplement the buying and selling process. Michael and Willemina chose Calgary as a perfect location given the city’s budding technology scene; furthermore, virtual reality is proving to be a huge benefit to the overseas buyers making their way into the Calgary market.

In listing your home with Renzo Real Estate, your property is captured in 3D so buyers can explore your listing from the comfort of their own homes or across the world. Using high tech 360 degree cameras, Renzo Real Estate agents are able to capture exactly what it is like to be immersed in the home.

No virtual reality headset at home? No problem, Renzo Real Estate will provide you with your very own headset to experience this technology from your own house. Approximately 2% of listings in Calgary can currently be accessed through virtual reality, but this number is steadily rising.

“Virtual reality is a powerful new tool that allows buyers to feel like they are actually walking through the property and effectively permits the seller’s home to become a 24/7 open house” says Broker, Michael Montgomery. “It is all about leveraging technology tools to help consumers and agents” adds Office Manager, Willemina Montgomery.

Michael and Willemina have been selling real estate in Calgary for a number of years and their unique approach to marketing motivated the team to open their own brokerage. “The real estate industry is on the brink of a huge shift and we need brokerages to be ahead of the game” says Michael.

To learn more about the changing real estate industry, Calgary real estate, or virtual reality in real estate you can reach out to Renzo Real Estate or click here.