I have been very busy getting my current renovation project moved toward completion and have been vetting a few lending deals over the last few weeks. This is a very exciting time to be a seller in Calgary with how much competition there is from buyers outbidding each other riding on the fear that interest rates will be raised by the bank of Canada sometime in the near future. There is a lot of promise in the renovation space in Calgary right now due to the low inventory of great homes to come onto the market for buyers who do not wish to pay 1,000,000 for infill in the inner city or live in a new community if they work in the core. I personally do not think that the economy in North America has shown enough signs of growth in many of the key areas such as housing starts to justify an increase in rates in the near future. I however do not have a crystal ball (though if I could get my hands on one that would be great!) and we could see some surprises by the end of the year.
Have a great long weekend everyone-at least it is only raining this year so far in May long!
Tim
