Around the globe there is a tremendous amount of prime real estate simply not being used for any real purpose whatsoever. Many, if not most, property owners do not realize that if they have a large, flat roof there are some really fun and interesting options for what they can do with this space. In fact, these options can even enhance their lives by giving them not just more space, but a different space than what they currently enjoy. The Hut puts a spotlight on this idea quite nicely.

Hut is a rather clever idea developed by architect Scotty Batty and designer Morag Myerscogh. Myerscough wanted a private space for her kitchen in London and decided that she would build a mini-space right on top of the third floor of her 1890’s home. The end result was the hut.

The Hut is reached by climbing up a simple staircase and while it is only a few feet away from Myerscough’s existing home it feels literally like she is at a retreat home every time she uses it. Due to the fact that the Hut has such a different design aesthetic, the Hut has become something of an escape.

Myerscough notes that the Hut gives her different light than in her 1890s home as well as a different feel. Much of this “different light” comes from the fact that the Hut has a large skylight and doors that can be opened to create a very free and flowing space. The design of the Hut is such that it creates a great deal of quite and even privacy as the addition is not visible from street level.

The Hut is constructed entirely out of timber with an eye toward sustainability. Solar panels also provide for much of the Hut’s power in keeping with this sustainable and green theme.

Part of the Hut’s considerable charm is that the design showcases how much existing space is currently not being properly utilized all over the world. No doubt it is rather sad that there is so much great rooftop space not being enjoyed in some fashion or another and the Hut, with its fresh design, truly underscores this fact.

http://www.comingunmoored.com/2009/07/hutonaroof/

interesting review brought by Moishe Alexander, CFC Canadian Funding Corp CEO

Global Demographics 2009: Shaping Real Estate’s Future explores how demographic trends are affecting real estate investment and development decisions worldwide. The publication, the second in an annual series from the Urban Land Institute, examines major factors that affect land use, namely population growth, urbanization, aging and migration.

Some of the book’s highlights include:

* The greatest population increases worldwide in the next 40 years will occur in China, India and the United States.
* The population of Europe will decline between now and 2030.
* Mature but still growing economies, including the U.S., Canada, U.K., Ireland, Australia and New Zealand, will offer attractive real estate investment and development prospects once the recession subsides.
* The developed world’s large workforce is aging rapidly while the young labor pools in the Middle East, Africa and South Africa are expanding.
* Fertility rates have dropped globally, even in developing countries.

The report states that demographics are the foundation of real estate decision-making. Population, household and income characteristics, along with the direction of future trends, determine whether demand will exist for new housing or retail space. Growth in the labor force and its composition strongly influence the success of office and industrial properties.

http://www.realestateindustrywatch.com/book-describes-impact-of-global-demographics-on-real-estate%E2%80%99s-future/

brought by Moishe Alexander, CFC Canadian Funding Corp CEO

The real estate market in Calgary has changed significantly in the past few months. We went from having an over-supply of homes where sellers waited endlessly for offers, to a brand new market where, in certain price ranges, multiple offers on the same home are becoming more and more common every day.

Here’s the latest News Release from the Calgary Real Estate Board…

Calgary, July 2, 2009 – The number of single family homes and condos sold in June in Calgary metro are both up from the same time a year ago.
MLS® sales activity of single family Calgary metro homes was 1,837 in the month of June 2009, showing an increase of 16 per cent from 1,584 sales in May 2009, according to figures released by the Calgary Real Estate Board (CREB®).
This is the sixth consecutive month home sales have increased in Calgary Metro. This was an increase of 28 per cent from June 2008, when single family home sales were 1,439. The number of condominium sales for the month of June 2009 was 738, an increase of 13 per cent from the 653 condominium transactions recorded in May 2009, and an increase of 33 per cent from June 2008, when 556 condominiums changed hands.

“This is the third consecutive month we are seeing our inventory return to a balanced market,” says Bonnie Wegerich, President of the Calgary Real Estate Board. “Our inventory turnover for single family homes and condos in metro Calgary is now just over two months. This is a remarkable shift from the nearly 11 months of inventory we saw in January of this year.”
“A rise in demand along with fewer listings has helped bring supply in balance with demand,” says Wegerich. “Affordable prices, low interest rates and pent-up demand continue to fuel this gradual rebound. Should this trend continue, I think we can confidently say the bottom of the market has come and gone before many buyers had a chance to notice.”

The average price of a single family Calgary metro home in June 2009 was $447,142, showing an increase of 2 per cent from May 2009, when the average price was $436,427, and showing a decrease of 6 per cent from June 2008, when the average price was $473,774. The average price of a Calgary metro condominium was $285,595 showing a 4 per cent increase from May 2009, when the average price was $275,212 and a decrease of 9 per cent over last year, when the average price was $315,042. Average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods, or account for price differentials between geographical areas.

“It is not the buyer’s market we saw in January of this year. As our inventory trends lower, choice and selection will decrease. Nonetheless, there are still great opportunities out there for buyers,” says Wegerich.

“The good news is pricing remains relatively affordable,” says Wegerich. “We are not liable to see significant price gains in 2009, but more likely a gradual and steady improvement in home values.”

Single family Calgary metro new listings added for the month of June totaled 2,244, no change from May 2009 when 2,235 new listings were added, but showing a decrease of 19 per cent from June 2008, when 2,787 new listings came to the market. Calgary metro condominium new listings added in June 2009 were 927, down 7 per cent from May 2009, when the MLS® saw 998 condo listings coming to the market. This is a decrease of 25 per cent from June 2008, when condominium listings were 1,234.

The median price of a single family Calgary metro home in June 2009 was $399,000, showing an increase of 2 per cent from May 2009, when the median price was $390,000, and down 2 per cent from June 2008, when the median price was $408,000. The median price of a condominium in June 2009 was $265,500, up 4 per cent from May 2009, when the median was $255,000, and down 6 per cent from June 2008, when the median price was $282,000. All Calgary metro MLS® statistics include properties listed and sold only within Calgary’s city limits. The median price is the price that is midway between the least expensive and most expensive home sold in an area during a given period of time. During that time, half the buyers bought homes that cost more than the median price and half bought homes for less than the median price.

“We are encouraged by this upward trend in sales but there are still some economic fundamentals needed before we will see a full recovery in the housing market,” added Wegerich. “A rebound in employment and oil prices will have a significant impact on the housing market in Calgary-we expect this won’t fully take effect until the beginning of 2010.”

http://yourhomeincalgary.blogspot.com/2009/07/its-july-2009-and-weather-is-fine-so-is.html

viewed by Moishe Alexander, canadian funding corp CEO