In a widely anticipated move earlier this week, the Bank of Canada left its overnight lending rate at the current level of 1%.  As the economy continues its gradual recovery and economic indicators begin to solidify across the country it appears that experts are somewhat split in their forecasts for when the inevitable rate increases will occur.

The Financial Post recently reported that in a survey of 12 banks that deal directly with the Bank of Canada, three predicted the first interest rate hike will occur in July while six others forecast a September increase. So given the survey respone, 75% of the big banks anticipate a rate hike within the next 4 months. 

So what does it all mean?  The overwhelming consensus from the big banks and financial experts across the country is that the end of historically low interest rates is coming; the million dollar question is when?  I personally do not possess the powers of Carnac to pick the exact date, but following along the lines of the banking survey, I strongly believe you can bet on some sort of increase before the calendar turns to 2012.

If you are currently looking for a new home or plan to start your search in the next three months it certainly wouldn’t hurt to pay your mortgage broker or specialist a visit and lock in a rate now.  You may not find your new home within the locked-in period but it will provide you with a modicum of security if the rates do actually head north earlier than widely expected this July.

For all you diehard "garage saler's" out there, mark this Saturday on your calendar and get up early as the Citadel Community Parade of Garage Sales is set to go from 9:00 AM until 3:00 PM.

You may very well need all seven hours to hit all the participating houses as there are over 50 registered individual sales spanning the entire community.  You never know what treasures...and yes, of course trash, you will find which is what makes the whole process enjoyable!

After the garage sale fun is completed, there will be a community spirit event at West Citadel Park on the corner of Citadel Way and Citadel Bluff from 4:00 PM until 7:00 PM.  The event features free hot dogs, chips, pop & water, appearances by the Calgary Fire Department and Police Services, a bouncy house and lots of music.

So come out and enjoy the day and the forecast good weather...and if you get here early, I'll giove you first dibs on my custom macramé beer cozies!

For more information and a community map click on the link below to go to the Citadel Community website.

New homes in Calgary’s newest outlying communities may get more expensive in the immediate future as City Council approved a five-year deal that will see local developers cover an increased portion of the cost of infrastructure development.

The new levy agreement will more than double the $7,000 per home fee that developers currently pay by adding another approximately $8,000 to the fee.  Neither side has claimed a victory in the negotiation and final agreement as some industry members claim they are now saddled with too heavy a burden while Mayor Naheed Nenshi was quoted as saying “I think we could have got a better deal...I think we could have been a little more aggressive.”

The spinoff effect for local new home buyers remains to be seen.  Some developers have said the increase will be passed on 100% to buyers in the form of higher prices however it would be hard to imagine that an immediate $8,000 increase will be the norm across the board.

For more information and additional insights and commentary on the new levy agreement, click on the links below to the related Calgary Herald and canada.com articles.

More protection is on the way for homebuyers in Calgary and across the province as the Alberta Government has passed new rules requiring resale home inspectors to be licensed by the province.

There have long been appeals from all sides of the issue to introduce regulations as the property inspection industry has essentially operated without any official government guidelines.  The new rules will encompass resale inspections only and will cover, among other items, minimum inspection criteria and education requirements.

The new rules, which come into effect this September, should be widely accepted and welcomed as the they stand to benefit all parties involved; homebuyers, inspectors and Realtors.  Inspection services and companies that do quality work will now be recognized for their diligence and the risk of a fly-by-night outfit, completing shoddy work or offering unqualified inspectors, tarnishing the industry’s image will be greatly reduced.

Another Best of NW Calgary Spring opening to announce as Calaway Park is set to kick off their 2011 season on Friday, May 21.  This year will represent a milestone for the park as they enter their 30th year of operation.

I have many fond memories of Calaway Park; from the opening season, to the Gowan concert (yes, I went and it was great), right up to a few seasons ago taking my kids there for the first time and being very impressed with the cleanliness, friendliness and overall operation of the facility.

 Calaway has grown from a small facility in 1981 with just 14 rides and attractions into Western Canada’s largest outdoor family amusement park boasting 34 rides, 23 food locations, 25 skill-testing games and 4 attractions.  This year’s new addition is the scream-producing Mind Blaster ride that will roll, spin and thrill the most adventurous ride enthusiasts.

For all the information about opening weekend, amenities and events as well as day and season pass prices visit the official Calaway Park website by clicking the link below.

Most importantly, have fun and remember; if you’re sitting at the front of the Shoot the Chutes ride - duck at the bottom and soak everyone behind you!

Another great Best of Calgary NW event as Cavalia comes to Canada Olympic Park!

If you haven’t watched the 6 o’clock news, read the paper or driven by C.O.P. in the past few weeks you may be among the small group of people in Calgary who do not know that this groundbreaking production has pitched their tents (literally) and is scheduled to premiere its unique multimedia performance on Wednesday, May 25.

This massive extravaganza features 49 horses representing 10 different breeds, 33 international performers, a 210 foot wide screen providing the backdrop for the projections and special effects  and a 160 foot wide stage all coming together under a 110 foot tall (equivalent to a 10-storey building) white top tent.

 The Calgary run consists of 25 shows running through Sunday, June 19.  For a full show time schedule, ticket prices, ticket purchase and more information about this spectacular production visit the official Cavalia website by clicking the link below.

Along with the arrival of the overdue warm weather garages are finally opening and being cleaned out, lawnmowers are firing up and people are reacquainting themselves with the great outdoors.  People embarking on the latter of the three tasks will have more options very shortly as the summer venues at Canada Olympic park are set to open up, weather permitting of course, on Saturday, May 21.

The facilities that are opening up include the mountain bike courses and lifts, zip line, mini golf, Eurobungy, Climbing Wall & Spiderweb with the summer bobsleigh course slated to start thrilling brave tourists and fellow Calgarians on Saturday, June 18.  For hours of operation and rates, go to the Canada Olympic Park website by clicking on the link below.

Canada Olympic Park operated by WinSport Canada, is a world-class recreation facility offering year-round activities, events and tours.  If you haven’t visited the park for a while, stop by and experience the numerous upgrades and all the new facilities.

Another great Best of Calgary NW concert event is coming up next week at the Jubilee Auditorium as the original Riverdance production returns to Calgary for a limited 6-night run.

The production is now in its 16^th year and has played over 10,000 performances, attended by more than 22 million people in more than 350 venues through 40 countries across 4 continents.  The group has traveled well over 600,000 miles in the process, played to a worldwide television audience of over 2 billion; sold more than 3 million copies of the Grammy Award-winning CD and over 10 million videos making it one of the best-selling entertainment videos in the world!

If you have never seen the production this is a great opportunity to take it in and see what the commotion is all about.