Red Deer Real Estate Valley Crossing shares a number of helpful tips for going through the home buying process.

Red Deer, AB -- (SBWIRE) -- 10/13/2014 -- Red Deer, AB Real Estate Valley Crossing knows buying a home can be perceived as an overwhelming experience. However, the process is actually quite simple.

The following are a number of helpful tips on how to go about a property purchase. Tips are both useful for those buying a home for the first-time or the fourth time.

Personally Validate The Ability to Afford A Mortgage
If one is worried that they may not be able to afford a home loan, Peoples Home Equity has a very helpful "Loan Calculators" page. The page offers tools to answer prospective applicant questions such as: "Monthly Payment Calculator," "Should I Pay Points?", and "How Much Do I Have To Earn?"

Get Pre-Approved For A Home Loan
A pre-approved home loan is essential before shopping for a home. Prospective home buyers will never know how they may spend on a home until they receive a pre-approved mortgage. Once approved, he or she may filter their property search based on the amount they may borrow.

The pre-approval process involves submitting paperwork such as proof of income, savings, and properties/vehicles owned so that the lender can verify the applicant's credit history. One may get started today at Peoples Home Equity "Home Loan Application" page. The page asks simply questions such as: gross income, credit score, legal status, military status, and the desired loan amount.

Readers should know that mortgage rates remain historically below average and the Federal Reserve has reassured Americans that they do not intend to rates interest rates anytime soon.

Find The Correct Agent
The best real estate agents work in their client's interest entirely. Having an agent bother both the seller and the buyer is usually a bad idea. Law dictates that agents have a fiduciary duty to act in their client's interest. For the most part, agents understand that clients come from all financial backgrounds, and status. Usually agents set up their Multiple Listing Service (MLS) to prospective home-buyers to search for properties. Again, to filter realistically requires a pre-approved home loan.

Write Down Like And Dislikes Of Differing Homes
Chances are buyers will find multiple properties that they like. To avoid buyer's remorse, one should jot down their preferences and dislikes of the various home they visit. This may include: price, size, layout, property upgrades, taxes, HOA fees, distance to work, and more. When shopping as a family, record what is important for the greater good such as: local schools, garden, or terrace size. Buyers should even visit the local schools and commute from the prospective home to verify if the location is right for them.

Be A Mindful Negotiator
When it comes to end process of a home sale both buyers and sellers have a limit price in mind at which they are happy to close the deal. Thus, a good negotiator knows the maximum price they are willing to offer for a desired property. The offer should be mindful of the mortgage payment required at differing price levels. In addition, the buyer should note the added costs of any defect or damages in the home.

Have A Good Time
In the end buying a home should not be a stressful process but one in which an individual is eager to experience. Both lenders and agents alike have seen both situations play out. Individuals that are financially organized and know what they want have an easy and great time going through the home buying process as it's a step by step process that they already thought through before applying for a home loan.

Contact a Red Deer, AB Real Estate Valley Crossing loan officer today at: Call: 403 782 7985

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Truly, Blackfalds is a nice place to grow – but don't take our word for it. ... from their new Multiplex to a state of the art Cultural Centre

Blackfalds, AB -- (SBWIRE) -- 10/13/2014 -- A welcome to Blackfalds feature that would be part of a roundabout planned at Highway 2A and Highway 597 is back on the table.

Council gave the OK to bring the plan back to the forefront now that Alberta Transportation has brought the roundabout back into its capital plan.

"With the roundabout coming on stream in the fall of 2012, what we did is allocate $75,000 to build a landscaping roundabout feature in the middle of the roundabout," explained Preston Weran, director of infrastructure and property services.

"What happened is (Alberta Transportation) put the tender out and it came in way too high, so they kind of delayed the project. Then it got cancelled as part of their three-year cancellation of their capital projects. In turn our landscaping feature got cancelled as well."

Weran said now that the Alberta government has put that back on their three-year capital plan, they have until 2016 to get it tendered and constructed.

"So we just heard the other day that Alberta Transportation is planning on tendering this fall. We don't have an official confirmation on that, but that is their plan," he said.

"We just wanted to confirm with council that the schematics of the large Blackfalds letters was still top of the priority list. We wanted it to be brought forward as part of the 2015 budget."

Weran said Blackfalds would probably just tack that on to the tender for Alberta Transportation so that the contractor doing the top soil and all the re-scaping of the ditches would actually do the landscaping feature as well.

"(Alberta Transportation) is looking at tendering this fall," Weran said. "They will see how the prices come in, and would like to start construction next year. But again, that is all somewhat informal and we kind of wanted to cement our requirements to incorporate that into our bid."

"We added another $15,000 just because of the fact that it is two years later," he added.

The expected capital cost for the roundabout feature in the Blackfalds budget is $90,000.

About Blackfalds Condos for Sale
Valley Crossing is located less than 5 minutes to QEII, Hwy 587, & Hwy 2A. Situated in the new subdivision of Valley Ridge Estates, this project may be on the best piece of multi-family real Estate in Blackfalds. They won't last long! Reserve your new home in Valley Crossing today! Visit

http://www.valleycrossing.ca/blackfalds-condos-for-sale/ for more details.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

When Catherine Klostranec tells acquaintances that she will be taking real estate courses at Ryerson University in Toronto this fall, they assume she is planning to become a residential real estate agent.

Lacombe, AB -- (SBWIRE) -- 09/11/2014 -- "Everyone thinks of real estate brokers when they think about real estate," said Ms. Klostranec, a fourth-year student at the university and president of the student organization Real Estate Ryerson. "I get questions about it all the time and I'm trying to break that barrier."

It is a barrier that Ryerson, too, is attempting to break by introducing an undergraduate real estate program at its Ted Rogers School of Business Management, making it only the third university in Canada — along with the University of Guelph in Ontario and the University of British Columbia — to offer a formal real estate program for undergraduates. By comparison, approximately 70 universities in the United States offer undergraduate real estate programs.

"Even accounting for the difference in size between the two countries, that is a big disparity," said Prof. Cynthia Holmes, a real estate economist who designed the Ryerson program. "It's hard to understand why it doesn't get more academic attention."

Dr. Holmes said the Ryerson program resulted from consultations between administrators at the management school and industry executives in the area, who identified real estate education as a gap in the undergraduate program. Ryerson followed through, and the response has been positive.

The Introduction to Real Estate class has 135 students and "filled right up within a few days after registration began," Dr. Holmes said.

Like their counterparts at Guelph and the University of British Columbia, Ryerson real estate students will get a background in business along with specialized knowledge in real estate. Course offerings will include such subjects as real estate law, real estate development, valuation and real estate economics and finance. Students will also have the option of taking planning courses or online mapping courses. Upon graduation, they will receive a bachelor of commerce degree in real estate.

"They'll get a broad business background and broad real estate industry knowledge," Dr. Holmes said, which will make them better equipped to compete in the real estate job market. "It's a degree that is more for people who want to work in real estate management."

Prof. Avis Devine teaches an appraisal course and an investment course in the undergraduate real estate program at Guelph. Before joining the faculty, she was employed by a large bank as the assistant vice president in charge of real estate underwriting and valuation.

"I was working in a market without an undergraduate real estate program, so potential employees had no training in real estate," Professor Devine said. "I had to train people on the different nuances, even if they had a business background. If you can hire someone who has real estate training it makes a major difference, and if students come out of university with those skills in hand, it elevates the whole profession."

"The resale market will (become) more competitive, drawing some sales away from the new home market in 2015," says Cho. In Alberta this year, 69,900 homes are expected to change hands on the resale market. Next year, it's slated for a three per cent uptick to 71,900 sales.

Behind Alberta's two biggest cities, Red Deer is forecast to see 865 starts on a variety of homes in 2014, 10 per cent more than the 784 homes a year earlier.

About Affordable Housing - Blackfalds
Valley Crossing is located less than 5 minutes to QEII, Hwy 587, & Hwy 2A. Situated in the new subdivision of Valley Ridge Estates, this project may be on the best piece of multi-family real Estate in Blackfalds. They won't last long! Reserve your new home in Valley Crossing today! Visit

http://www.valleycrossing.ca/blackfalds-affordable-housing/ for more details.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

The Government of Canada and the Province of Saskatchewan, along with the Northern Village of La Loche, today celebrated the official opening for a project that consists of two semi-detached homes for single-parent families. The homes are being built by Methy Construction and Maintenance Corporation, a subsidiary of Methy Housing Corporation in La Loche.

Lacombe, AB -- (SBWIRE) -- 09/11/2014 -- Rob Clarke, Member of Parliament for Desnethe-Missinippi-Churchill River, on behalf of the Honourable Candice Bergen, Minister of State (Social Development), along with the Honourable Donna Harpauer, Minister of Social Services and Minister responsible for Saskatchewan Housing Corporation, made the announcement.

"Through investments in affordable housing, our Government is providing assistance to those who need it most here in Saskatchewan and in all corners of the country," said MP Clarke. "We are committed to making communities stronger through projects like these. This investment helped create new jobs and stimulated the local economy, while providing access to safe, affordable homes for this community's single-parent families."

"We are proud to work with the Government of Canada, the Northern Village of La Loche and Methy Housing Corporation to help make these homes available to northern families," said Minister Harpauer. "As supported by the Saskatchewan Growth Plan, good housing is at the heart of both individual and community well being, and helps create a strong economy and a high quality of life. We will continue to work with our housing partners to help make that happen."

The project consists of 2 two-bedroom semi-detached homes, for a total of four units. The project is on two adjacent lots, at 14 and 24 Moise Avenue in La Loche. This project will provide housing to low-income single-parent families in a community where housing is in high demand.

The Government of Canada, through Canada Mortgage and Housing Corporation (CMHC) and the Province of Saskatchewan, through Saskatchewan Housing Corporation provided a combined investment of more than $370,000 through the Canada-Saskatchewan Agreement for Investment in Affordable Housing. Methy Housing Corporation provided more than $130,000, while the Northern Village of La Loche contributed to the land and services.

Annually, the Government of Canada, through CMHC, will invest approximately $2 billion in housing. Of this amount, $1.7 billion will be spent in support of close to 600,000 households living in existing social housing. In Saskatchewan, this represents an estimated 28,000 households. The remaining funding supports housing-related activities and affordable housing programs, including the Investment in Affordable Housing. These investments are improving the quality of life for low-income Canadians and households living in existing social housing, including individuals who are homeless or at risk of homelessness, seniors, persons with disabilities, recent immigrants and Aboriginal people. Economic Action Plan 2013 continues this commitment with a federal investment of more than $1.25 billion over five years to renew the Investment in Affordable Housing to 2019. The Government of Canada will ensure that funds provided to provinces and territories support the use of apprentices, which will support training of skilled labour. From April 2011 to June 2014, close to 184,000 households have benefited from this investment nationally, including 1,673 households in Saskatchewan.

In October 2012, the Government of Saskatchewan released the Saskatchewan Plan for Growth: Vision 2020 and Beyond, which sets out the Government's vision for a province of 1.2 million people by 2020. The Plan identifies principles, goals and actions to ensure Saskatchewan is capturing the opportunities and meeting the challenges of a growing province. Since 2011, the Government of Saskatchewan has invested $326 million to develop more than 5,600 units and repair more than 24,300 homes around the province.

"The resale market will (become) more competitive, drawing some sales away from the new home market in 2015," says Cho. In Alberta this year, 69,900 homes are expected to change hands on the resale market. Next year, it's slated for a three per cent uptick to 71,900 sales.

Behind Alberta's two biggest cities, Red Deer is forecast to see 865 starts on a variety of homes in 2014, 10 per cent more than the 784 homes a year earlier.

About Affordable Housing - Blackfalds
Valley Crossing is located less than 5 minutes to QEII, Hwy 587, & Hwy 2A. Situated in the new subdivision of Valley Ridge Estates, this project may be on the best piece of multi-family real Estate in Blackfalds. They won't last long! Reserve your new home in Valley Crossing today! Visit

http://www.valleycrossing.ca/blackfalds-affordable-housing/ for more details.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Overvalued real estate markets in Canada and elsewhere show an "unhappy resemblance" to the conditions that existed in America prior to the financial crisis.

Lacombe, AB -- (SBWIRE) -- 09/10/2014 -- So says The Economist, which released a set of data last week showing that homes are at least 25 per cent overvalued in the Great White North and eight other countries.

A chart provided by the publication showed that Canada's price-to-rent ratio sat at 175.9 per cent in the second quarter of 2014, right on top of the world alongside Hong Kong and New Zealand.

Canada and New Zealand also sat in a similar place when it came to prices against average incomes. Canada had a ratio of 132.3 per cent in the year's second quarter, while New Zealand's was 129.7 in the first (data was not available for its second quarter).

Both were trumped in this category by Belgium, whose price-to-income ratio was 146 per cent in the fourth quarter of 2013 (data for 2014's first two quarters was not available).

The ominous tone for Canada's real estate was consistent with that set by Fitch Ratings in July, when it said that the country's home prices were overvalued by 20 per cent.

One of the reasons was that low interest rates were driving up the housing market since the 2008 financial crisis. Consumers thus had an easier time borrowing money, which also contributed to rising household debt-to-income ratios.

Analysts have long predicted that Canada could be headed for a housing crash. Capital Economics in May predicted a 25 per cent drop in prices over the long term, having observed slowdowns in areas such as Halifax, Winnipeg and Victoria.

Despite 1,000 fewer builds than 2014, new construction of multi-family housing in the Calgary area should still out-pace all urban centres in Alberta next year, says CMHC. The Edmonton area is expected to come in second with 6,400 multi-family starts next year. But in 2015, the Calgary area is expected to lose the lead in single-family starts, with the Edmonton area slated for 6,500. Across Alberta, housing starts are expected to grow by seven per cent this year, with shovels turning out 38,600 homes. That total should recede next year, with 36,800 slated to break ground, CMHC says.

"The resale market will (become) more competitive, drawing some sales away from the new home market in 2015," says Cho. In Alberta this year, 69,900 homes are expected to change hands on the resale market. Next year, it's slated for a three per cent uptick to 71,900 sales.

Behind Alberta's two biggest cities, Red Deer is forecast to see 865 starts on a variety of homes in 2014, 10 per cent more than the 784 homes a year earlier.

About Affordable Housing - Blackfalds
Valley Crossing is located less than 5 minutes to QEII, Hwy 587, & Hwy 2A. Situated in the new subdivision of Valley Ridge Estates, this project may be on the best piece of multi-family real Estate in Blackfalds. They won't last long! Reserve your new home in Valley Crossing today! Visit

http://www.valleycrossing.ca/blackfalds-affordable-housing/ for more details.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Lacombe, AB -- (SBWIRE) -- 09/10/2014 -- Private buyers squeezed out pension funds in the commercial real estate market during the second quarter, according to a new report.

CBRE Ltd, a real estate company that provides data on the market, said despite the strong interest from private investors, the dollar volume of investment activity dropped sharply from a quarter earlier.

The total value of commercial real estate that changed hands in the second quarter was $5.1-billion, down from $6.7-billion in the first quarter.

"Volume came off a bit in the second quarter but more deals were processed and the lack of summer lull bodes well for the remainder of the year," said John O'Bryan, chairman of CBRE in Canada, in a release.

The actual number of transactions was up 9.7% but it was driven by a lot of smaller deals that institutional players like pension funds would have no interest in.

Mr. O'Bryan noted while commercial prices continue to remain near or record highs, there is still strong demand from investors looking for a place to park their money.

"While this investment cycle may seem long in the tooth, an abundance of capital is still waiting to be place. Any hesitation caused by the current pricing is quickly trumped by the promise of healthy, stable returns which commercial property in Canada continues to offer," said Mr. O'Bryan.

In total, pension funds accounted for 11.4% of commercial property purchases in the second quarter, down from 31.6% in the first quarter. Private investors bought 61.6% of real estate, up from 39.6%, a quarter earlier.

Publicly-traded real estate investment trusts, unable to compete because their own valuations have been depressed, continue to struggle to find real estate.

REITs made up only 8.7% of purchases in the second quarter, down from 11.5% a quarter earlier.

"You have to think that the REITs are near the bottom in terms of purchasing activity. I would expect REITs will be more active going forward," said Ross Moore, director of research for CBRE in Canada, in a statement.

Despite 1,000 fewer builds than 2014, new construction of multi-family housing in the Calgary area should still out-pace all urban centres in Alberta next year, says CMHC. The Edmonton area is expected to come in second with 6,400 multi-family starts next year. But in 2015, the Calgary area is expected to lose the lead in single-family starts, with the Edmonton area slated for 6,500. Across Alberta, housing starts are expected to grow by seven per cent this year, with shovels turning out 38,600 homes. That total should recede next year, with 36,800 slated to break ground, CMHC says.

"The resale market will (become) more competitive, drawing some sales away from the new home market in 2015," says Cho. In Alberta this year, 69,900 homes are expected to change hands on the resale market. Next year, it's slated for a three per cent uptick to 71,900 sales.

Behind Alberta's two biggest cities, Red Deer is forecast to see 865 starts on a variety of homes in 2014, 10 per cent more than the 784 homes a year earlier.

About Affordable Housing - Blackfalds
Valley Crossing is located less than 5 minutes to QEII, Hwy 587, & Hwy 2A. Situated in the new subdivision of Valley Ridge Estates, this project may be on the best piece of multi-family real Estate in Blackfalds. They won't last long! Reserve your new home in Valley Crossing today!

Visit http://www.valleycrossing.ca/blackfalds-affordable-housing/ for more details.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Earlier this week it was announced that Red Deer was successful in its bid for the 2019 Canada Winter Games.

Lacombe, AB -- (SBWIRE) -- 09/09/2014 -- The games coming to Red Deer will not only offer financial benefits to the community, but the legacy projects will benefit the residents after the games lead.

Chair of the bid committee, Lynn Radford tells the Alberta Morning News that there will be a number of new facilities.

"There are twin arenas, a huge new performance gymnasium and, of course, there's the educational component which will add to it," she says.

The City will also be building a new speed skating oval that is planned to turn a park that is popular in the summer to an attraction that can be used year round.

But Radford says the legacy projects are more than just new buildings. She tells the Alberta Morning News a partnership has been made with a synchronized swimming group in Calgary.

"When you look at the opportunities that our coaches and volunteers can have in the synchronized sport, to be able to work with this experienced group," she says. "Then, when we do have our pool, we can bring that mentorship right into our program seamlessly."

Red Deer beat out other finalist Lethbridge for the right to host the games. It's the third time the games will be in Alberta. (kc)

The Lethbridge 2019 Canada Winter Games Bid team says it left "everything on the field" in the effort to win the Games for Lethbridge and southwestern Alberta.

However, today in Calgary, the Canada Games Council announced the decision to award the 2019 Canada Winter Games to Red Deer.

"We did our absolute best to try and win the right to host the 2019 Canada Winter Games. For that, every one of us should be immensely proud," said Lethbridge Mayor Chris Spearman, in a press release. "I want to thank our bid committee, the Lethbridge Sport Council, our major community partners and the thousands of people in Lethbridge and our partner communities in southwestern Alberta who signed up to volunteer in 2019. Your community spirit and willingness to serve others are a tremendous example to our entire region. I also want to acknowledge Red Deer for putting forward a successful bid to host the 2019 Canada Winter Games. We are looking at today's announcement as a win for Alberta. With all of our fellow Albertans, we will support Red Deer as they invite Canadians to celebrate our best young athletes at the Canada Winter Games in 2019."

Spearman said the bid effort, nearly a year in the making, has raised the profile of sport in Lethbridge and southwestern Alberta, and has already provided some spinoffs.

"Our effort has in no way been wasted. The enhanced relationships we have gained by working together on this project are victories for our region that are worth celebrating."

A complete list of partners and supporters of the Lethbridge 2019 Canada Winter Games bid will be posted at http://www.lethbridge2019.ca and published in The Lethbridge Herald.

For complete coverage on today's announcement, please see tomorrow's print edition of The Herald.

"The resale market will (become) more competitive, drawing some sales away from the new home market in 2015," says Cho. In Alberta this year, 69,900 homes are expected to change hands on the resale market. Next year, it's slated for a three per cent uptick to 71,900 sales.

Behind Alberta's two biggest cities, Red Deer is forecast to see 865 starts on a variety of homes in 2014, 10 per cent more than the 784 homes a year earlier.

About Red Deer Real Estate
Valley Crossing is located less than 5 minutes to QEII, Hwy 587, & Hwy 2A. Situated in the new subdivision of Valley Ridge Estates, this project may be on the best piece of multi-family real Estate in Blackfalds. They won't last long! Reserve your new home in Valley Crossing today! Visit

http://www.valleycrossing.ca/ for more details.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Results from a recent community engagement survey in Blackfalds were released at the Aug. 26 Blackfalds council meeting. Earlier this year, council requested that input from residents be gathered and incorporated into the 2014 Municipal Sustainability Plan (MSP), a document which outlines the goals and strategies needed to create a successful, healthy and self-sustained community.

Lacombe, AB -- (SBWIRE) -- 09/09/2014 -- Jennifer Hartigh, economic development and communications officer for the Town of Blackfalds, said, "(The survey) was done during June and July of this year and that was comprised of an online survey put on our town website. There were also numerous posts on the town's Facebook page which invited comments and messages from residents. We also had a display table set up."

Residents were asked five questions:

What does one value most about Blackfalds?
What is it like for one to live here?
What changes would one most like to see?
What are the hopes and dreams for Blackfalds in the long term?
How can one help to make those hopes and dreams a reality?

In total, 92 residents filled out the survey with the majority of people responding in-person at display tables or through the online survey. Data was compiled and compared to the current MSP draft to see if any changes needed to be made to more accurately reflect the goals and visions of Blackfalds residents.

Hartigh said the current MSP draft "adequately addresses the vast majority of those comments," but recommended some changes to the current draft of the MSP.

Residents who took the survey mentioned their willingness to shop and support local businesses, therefore Hartigh recommended an amendment in the MSP to include support for home-based businesses as well as small and medium enterprises.

Other responses included providing more accessible housing for those who have mobility issues and are concerned about their ability to age in place. More emphasis on accessible housing was added to the Housing Options section of the MSP draft.

Those surveyed also said they valued Blackfalds' small town feel, its family-oriented atmosphere and the availability of recreational activities.

Coun. William Taylor said he found it interesting that residents wanted to keep the small town feel of Blackfalds, but have continued growth by increasing amenities and shopping.

"Those aren't necessarily small town things. One kind of have to give up something to get what we want," Taylor said. "It's interesting how people perceive that and what that actually means."

Hartigh recommended adding in the MSP draft that a sustainable approach will be taken in terms of community growth.

"I wasn't convinced that some of the wording we had in the Community Growth portion reflected intentional planning for sustainability to reassure people we weren't trying to grow too fast. We're doing this in a very intentional, sustainable way," Hartigh said.

A new statement was suggested by CAO Myron Thompson to include both an emphasis on sustainable growth as well as a push for strong commercial and industrial development.

Amendments were made to the current MSP draft and were carried unanimously by council.

Mayor Melodie Stol said, "I think the municipal sustainability plan and the recommended changes remain to be a good way to continue to bring the community forward."

Despite 1,000 fewer builds than 2014, new construction of multi-family housing in the Calgary area should still out-pace all urban centres in Alberta next year, says CMHC. The Edmonton area is expected to come in second with 6,400 multi-family starts next year. But in 2015, the Calgary area is expected to lose the lead in single-family starts, with the Edmonton area slated for 6,500. Across Alberta, housing starts are expected to grow by seven per cent this year, with shovels turning out 38,600 homes. That total should recede next year, with 36,800 slated to break ground, CMHC says.

"The resale market will (become) more competitive, drawing some sales away from the new home market in 2015," says Cho. In Alberta this year, 69,900 homes are expected to change hands on the resale market. Next year, it's slated for a three per cent uptick to 71,900 sales.

Behind Alberta's two biggest cities, Red Deer is forecast to see 865 starts on a variety of homes in 2014, 10 per cent more than the 784 homes a year earlier.

About Affordable Housing - Blackfalds
Valley Crossing is located less than 5 minutes to QEII, Hwy 587, & Hwy 2A. Situated in the new subdivision of Valley Ridge Estates, this project may be on the best piece of multi-family real Estate in Blackfalds. They won't last long! Reserve your new home in Valley Crossing today! Visit

http://www.valleycrossing.ca/blackfalds-affordable-housing/ for more details.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm

Housing starts in the Calgary area this year are expected to be the highest in eight years, a federal agency says.

Lacombe, AB -- (SBWIRE) -- 09/05/2014 -- By the end of 2014, 15,600 homes of all kinds should break ground in the Calgary census metropolitan area. That's a 24 per cent jump from the 12,584 starts last year, says Canada Mortgage and Housing Corp. The census metropolitan area includes activity in surrounding cities and towns, such as Airdrie, Cochrane and Chestermere.

This year's forecast for the Calgary area tops all urban centres in Alberta. Next highest is the Edmonton area with 13,300 starts. For the provincial capital, this is a 10 per cent drop from 14,689 starts in 2013. CMHC's forecast puts the Calgary area at its most starts since 2006, when 17,046 broke ground.

"Looking at 2014, we're seeing strong employment growth, net migration is going to come down a little bit but remain elevated compared to previous years," says Richard Cho, CMHC senior market analyst.

Multi-family housing is expected to lead the upturn in new construction of homes in the Calgary area this year. CMHC expects soil will turn on 9,000 multi-family units by the end of 2014, marking a

45 per cent difference from the 6,182 starts in 2013.

At the same time, construction starts for single-family homes are expected to rise three per cent.

There should be 6,600 new single-family home builds by the end of this year, up from 6,402 a year ago.

In 2015, construction starts on a variety of home types in the Calgary area are expected to ease to 14,400. This would be the second highest, behind the 2014 mark, since 2006.

"Economic drivers that support housing demand is expected to remain positive in 2015 but will not be as strong compared to 2014," Cho adds.

Employment in Calgary is expected to rise 3.1 per cent in 2014 and 2.4 per cent in 2015, while net migration should reach 35,000 this year and 28,500 in 2015, says Cho.

Next year, single-family homes are slated to reach 6,400 starts and the multi-family segment is expected to see 8,000.

Despite 1,000 fewer builds than 2014, new construction of multi-family housing in the Calgary area should still out-pace all urban centres in Alberta next year, says CMHC. The Edmonton area is expected to come in second with 6,400 multi-family starts next year. But in 2015, the Calgary area is expected to lose the lead in single-family starts, with the Edmonton area slated for 6,500. Across Alberta, housing starts are expected to grow by seven per cent this year, with shovels turning out 38,600 homes. That total should recede next year, with 36,800 slated to break ground, CMHC says.

"The resale market will (become) more competitive, drawing some sales away from the new home market in 2015," says Cho. In Alberta this year, 69,900 homes are expected to change hands on the resale market. Next year, it's slated for a three per cent uptick to 71,900 sales.

Behind Alberta's two biggest cities, Red Deer is forecast to see 865 starts on a variety of homes in 2014, 10 per cent more than the 784 homes a year earlier.

About Red Deer Real Estate
Valley Crossing is located less than 5 minutes to QEII, Hwy 587, & Hwy 2A. Situated in the new subdivision of Valley Ridge Estates, this project may be on the best piece of multi-family real Estate in Blackfalds. They won't last long! Reserve your new home in Valley Crossing today! Visit

http://www.valleycrossing.ca/ for more details.

For more information on this press release visit: http://www.releasewire.com/press-releases/release-3.htm