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Newsletter Update Rooney Cronin + Valentine

October 15, 2008

Here are some important statistics about Calgary's Real Estate in Uncertain Times.

2001, the last time the stock market melted, we saw a global rush into real estate as a tangible asset both from investors + individuals eager to purchase ‘brick + mortar’ rather than keeping their investment portfolio in the stock market
The Prime Lending Rate just dropped by .5%; there are indications that it may drop further
Real Estate Prices are up .05% year to date. Important to note that sale prices are still down 5.4% from last September + a total of 12% from the high in 2007
Sales are up 10% from last September 2007
Listing Inventory city wide is Decreasing; currently fewer homes on the market than September 2007

The past few weeks have been bumpy.

Our expectation is that the market will stabilize with the Canadian election decided, the American election just a few weeks away + the current global response to stabilized banking + world economies.

History suggests that in uncertain times real estate remains a viable investment tool.

Our Newly Listed + Newly Priced Properties:

$1,999,000 Lakeview Village: Large family home backing south onto Glenmore Park
$,1585,000 Elbow Park: Private secluded family home with west backyard
$1,499,000 Mount Royal: Renovated contemporary home on 1/3 acre of lush property
$1,395,000 Aspen Woods: Beautiful 4 bedroom custom home with 4897 sq ft of living space
$1,150,000 Pump Hill: Renovated 4 bedroom executive family home
$1,099,000 Elbow Park: Renovated Arts + Crafts bungalow on 50' lot
$999,900 Britannia: 6 bedroom family home in desirable location
$939,900 Meadowlark Park: Close to 2100 sq foot sprawling bungalow
$699,900 Elboya: Renovated bungalow ideally located on large corner lot
$699,000 Elbow Park: Beautiful 75' treed corner lot
$599,900 Prominence: Stunning executive Townhouse in Prominence Estates
$599,900 Erlton: 1700 sq ft 2 bedroom penthouse + triple parking
$569,900 Altadore: Outstanding River Park location with 50'x125' lot
$499,900 Palliser: Fantastic Palliser Villa in adult complex
$499,900 Collingwood: Fabulous location steps to Confederation Park
$439,900 Hillhurst: Outstanding Riley Park townhouse
$399,900 Killarney: Exceptional lot and location with renovated bungalow
$399,900 Connaught: City Views and excellent price for this inner city apartment condo
$399,900 Hillhurst: Fantastic inner city condo in heart of Kensington
$369,900 Edgemont: 2 bedroom villa bungalow with developed lower level
$339,900 Coach Hill: Lovely one owner villa condo in quiet 50 plus Horizon Village complex

We have qualified buyers in every buying category city-wide.

Call us today to Buy or Sell 403-543-4499

Rooney, Cronin + Valentine are Calgary’s #1 Re/Max Sales Team successfully navigating a changing marketplace!