The province of Alberta has made some well needed changes to the Condominium Property Act starting January , 2020. 

The amendments include further clarification to regulation the Act. This includes:


1. Documents Provided by Corporation :

- What is offered after an AGM

- Annual Budget Disclosure

- Information Documents At No Charge

- Maximum Fees Not Exceeding Specific Amounts

- Retention Periods for Requested Documents

- Further Definition Around Reserve Fund Studies


2. Meetings and Voting:

3. Borrowing By The Corporation

4. Transfer, Lease or Sale of Common Property, Easement of Covenant or Condominium Parcel 

5. Notices, Notifications 

6. Change of Bylaw to Ensure Conformity with the Act and Regulations

7. Minimum Retention Period for a Corporation’s Documents and Information 

8. Bylaws of the Corporation 

9. Notice of Annual General Meetings 




Some of the highlights for owners are receiving, for free, condo documents pertanant to the running of their condominium. 

There are many more highlights and definitely worth reading over the amendment. 


https://greatercalgaryrealestate.com/condominium-property-act-changes-2020.html

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Greater Calgary Real Estate was modelled around the needs of realtors. It is realtor centric. Having spent over 20 years in real estate, and seeing many companies thrive and dive with all types of business models from well known franchise models to unknown names, we wanted to create a company that thrived on keeping fees low for realtors while creating a financially healthy company. And how did we do that?


Realtor Centric


Typical needs for realtors are conveyancing, finance, and broker questions. 


But throughout the year topics about legal questions, regulatory input, client care, and negotiating advice come up. The help they receive from Greater Calgary Real Estate comes any morning to any night and they know someone is there for them. 


Our Realtors know the advice they receive comes from over two decades of experience dealing with RECA investigations, CREB complaints, Broker to Broker resolutions, client issues and legal matters. As a realtor, you just never know if it could be you. It can cause health problems, sleeping issues and depression. Our Realtors receive high quality representation with a proven 100% track record. 



Business Model


We have changed our business model a few times since our start. But in 2010 after changing our successful printed real estate magazine advertising, we decided we wanted to start a business that could thrive and be financially stable, even if it was only myself and my husband. This was a very important turn for us. Print media changed and this had been our success since the 90’s. 


So what were we looking for? After many discussions, and soul searching, we realized we didn’t want to have a company that only thrived with top producers. We wanted to make sure our company thrived from as little as two to the sky’s the limit. 


We noticed that most companies were competing against each other, all had the same type of commission splits/office fees. All advertising how successful they would make you. But we know what it takes to be successful, and that’s you! 

We noticed there were companies that charged nothing! But having a finance background, we knew that was not a good plan! Need I explain the problem with that?


We didn’t want to be one of those brokerage that failed financially, that would be devastating to my financially educated husband. 


So…..


We decided to keep our fees low, offer online virtual systems, intranet library with training, company documents, branded designs, online feature sheets, presentations, goal setting, and training and learning company sales meetings and advances.  All while keeping in mind, our aim was to keep more in the pockets of our realtors. 


And that we accomplished. Although we have two professional programs and a training program, we have been able to keep the fees low and be very financially stable and responsible and we are entering our 14th year successfully operating Greater Calgary Real Estate. 



Technology


Our company works with online systems organizing your whole office and ours. Our file reviews go through 3 checks which are part of the system that helps keep our agents out of trouble throughout their career and aids in their knowledge of contract and quality real estate. The system hosts per deal checklists, auto notifications of conditions and essential dates, tasks, notes, accounting, statements and more. 

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2014 was Calgary's last boom, sales were just crazy. May 2014 showed the highest number of sales at 3911 with a median price at $425,000. It was crazy!!!


What happened?

Many factors came into play. The price of oil crashed! A new NDP government came into power! The federal government brought in stress testing for all people trying to buy a home with less than 20% down. Then the ystarted increasing interest rates. That wasn't enough stress on our market, they then brought in stress testing for everyone and again increased the interest rates. 


Calgary Today

Population increase from births to immigration is expected in 2018 by 1.4%, above the country's 1% overall forecast. Our discounted and bottle necked oil problem can see the light with the approval of Enbridge Line 3 and Transmountain Explansion pipelines in around 2021. And confidence may come back to Alberta with a new provincial government. 


What does residential real estate look like today in comparison to 2014? June 2014 showed the number of sales at 2657 and the median price at $425,000. June 2018 showed 1896 sales and median price at $433,750. The number of sales are down 29% from June 2014 - June 2018 but the median price has stayed strong! 


That being said, there are 3 sectors of the real estate market that each have their own statistics to consider. 



Apartment - June 2018: 292 Sales, Median $250,000 Compared to June 2014: 480 Sales, Median $284,000,

Number of Sales down 39%, median price up 13.6%


Attached - June 2018: 394 Sales, Median $345,500 Compared to June 2014: 627 Sales, Median $340,000

Number of Sales down 37%median price up 1.5%


Detached - June 2018: 1210 Sales, Median $495,750 Compared to June 2014: 1550 Sales, Median $493,500

Number of Sales down 22%median price even. 

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Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.