If you have been in Calgary for any length of time, like me, you no doubt have driven by St. Vladimir’s Ukrainian Orthodox Church which is located at 404 Meredith Road NE in the community of Crescent Heights. Its remarkable and noteworthy steeples have been a landmark on the Calgary skyline for years and no doubt has a very rich and interesting history.
On the weekend, I asked the Parish Priest, Taras Krochak if he would show me through the Sanctuary, and he graciously obliged. Have a look at some of the amazing artistry displayed on a large arrangement of religious icons.
The centre piece of the Chancel is a magnificent chandelier extending upwards to the heavens. I am sure there is some fascinating history and lore behind the design and architecture of this unique and beautiful building.
You may wish to stop by and attend one of their services which are held on Sunday mornings. For more information on St. Vladimir’s Ukrainian Orthodox Church and Rectory, please visit their website at www.stvlads.com.
I just discovered yesterday that the Calgary Real Estate Board has revised its measuring guidelines for resale condominiums listed on the Calgary MLS® system.
Previously the Total Square Footage listed for condominiums represented the above ground heated living area, and for all intents and purposes, the actual size of the condominium. This seemed to cause a lot of confusion and in many cases the sizes were inadvertently misrepresented due to error.
Sometime during December of 2011 a decision was implemented based on input by the Condominium Audit Review Committee and the Business Practices Department, of the Calgary Real Estate Board that moving forward, the Total Size will be the same as the Registered Size of the condominium.
The registered size of a condominium can and does often include areas which are not a part of the living unit, and might represent the inclusion of an exclusive use area such as balcony, terrace, or parking stall. In the case of a Bare Land Condominium, it might also include the garage and hypothetically the entire lot.
For the vast majority of condominiums the Registered Size includes only the living space, or if you want to get really technical, sometimes up to the centre line of the walls of the unit in some cases.
There are many condominiums in the city which do include additional exclusive use areas as part of the unit. I do stumble across them now and again. For example The Grandeur in Mayland Heights is a good example. The registered size of the units in this building includes an underground heated parking stall which is not under separate title.
It would be a good business practice for REALTORS® to disclose in their general comments if and when the Total Size includes an area which is not heated living area. At this point there is no requirement for this. I’m sure the matter will be the cause of all sorts of misunderstanding and non-disclosure would be foolhardy to say the least. Just because it isn’t written does not mean that it does not have to be disclosed.
The ruling is a good move towards consistency in the presentation of data on the MLS® system.
Expect to see some more fine tuning of the new Rule regarding Measuring Guidelines for Resale Condominiums down the road.
2011 a year of steady improvement for the housing market
Calgary, January 3, 2011 – According to figures released today by CREB® (Calgary Real Estate Board), Calgary residential sales in 2011 increased eight per cent over last year, with 18,568 sales for 2011 compared to 17,267 in 2010.
Recovering from tepid sales activity in the first half of 2011, early improvements in employment and migration resulted in a pickup in housing demand in the second half of the year. By the end of June 2011, year-to-date sales activity had only increased by two per cent compared to the second half of the year, where residential sales improved by 15 per cent.
“While sales activity in 2011 remained below the long run average by 17 per cent, monthly figures point towards the trend of this gap narrowing,” says Sano Stante, president of CREB®.
2011 single family sales totalled 13,186, a nine per cent increase over last year. While sales increased, listings remained low, with an annual total of 24,245, six per cent lower than 2010 levels. The decline in listings relative to sales pushed down inventory levels to 2,761, resulting in four months of supply.
Meanwhile, the condominium market recorded declining sales for nearly half of the year, but favourable pricing and improved economic conditions pushed sales up by double digit rates for the second half of the year. 2011 condo sales totalled 5,382, a 4 per cent increase over the previous year. The rise in sales was complemented by an annual 12 per cent decline in listings. This helped to tighten the condominium market, causing inventories to decline to 1,287 and months of supply to remain just above four months.
“The demand recovery in the condominium market lagged the single family market, as price adjustments in both the single family and condominium markets resulted in more selection for consumers,” Stante says. “For the first time in several years, consumers had additional selection of single family homes at a lower price range, which directly competed with the condominium market.”
Single family average price in 2011 reached $466,402, a one per cent increase over last year. While there have been some strong monthly increases, primarily due to sales in the upper end skewing the prices, overall prices have remained fairly stable. Meanwhile, the year-end median price of 405,000 remains at levels similar to 2010.
Condominium prices have remained persistently low in 2011, while some of the monthly figures have been boosted by high end penthouse sales. By the end of 2011, the average price of $287,172 remained one per cent lower than the previous year.
“Throughout 2011, elevated levels of inventories have limited price growth as consumers benefitted from sufficient supply of housing to choose from; however, as these inventories drop to levels more consistent with a balanced market, we can expect some moderate price growth moving forward,” Stante concludes.
