July prices down

[RiCE-DaDDy]

http://www.canada.com/calgaryherald/news/story.html?id=0f140343-290c-4378-aeb0-3460d5c7a609&k=93868


basically, Avg prices down about $10,000 from June, inventories up.

Keep in mind, its only one month, and it will pick up again, but who knows...

[88CRX]

yeeeeeeeeeeeeeeeeees.. about time

[Ekliptix]

I'm so glad I bought a house in June..........

[Unknown303]

:eek: Wow hopefully it takes a breather for a while. Feel bad for all the people who bought this year but i could really use a dip in prices to by the time i'm looking to stop renting the prices are still "fairly" reasonable.

[Thaco]

it can go back down 10k a month for the next year or 2 and i wouldn't complain (i know a lot of poeple would though) in 2 years i'll be in the situation to buy, as long as we don't have any more spikes, if we do i may be a perma-renter.

[Hanzo]

yeah I was planning on getting a house this year but due to the bubble, now i can't afford it....

anyways, prices are starting to drop, inventory has increased back to around 4200, still below average but I can see the housing market slowing down. Hopefully next year is when I can get my house...

damn speculators!

[chris]

apparently these people didnt get the message http://www.mls.ca/PropertyDetails.aspx?vd=&SearchURL=%3fMode%3d0%26Page%3d1%26vs%3d1%26rlt%3d%26cp%3d%26pt%3d0%26mp%3d0-0-0%26mrt%3d-1-0-0%26Beds%3d0-0%26Baths%3d0-0%26f%3d%26ft%3dall%26o%3dA%26of%3d1%26ps%3d10%26ptgid%3d1%26aid%3d4847%26MapURL%3d%253fAreaID%253d6401&Mode=0&PropertyID=4813578

[Weapon_R]

A bit too early to tell, July is a traditionally slow month as people vacation during this time.

[sputnik]

Originally posted by chris
apparently these people didnt get the message http://www.mls.ca/PropertyDetails.aspx?vd=&SearchURL=%3fMode%3d0%26Page%3d1%26vs%3d1%26rlt%3d%26cp%3d%26pt%3d0%26mp%3d0-0-0%26mrt%3d-1-0-0%26Beds%3d0-0%26Baths%3d0-0%26f%3d%26ft%3dall%26o%3dA%26of%3d1%26ps%3d10%26ptgid%3d1%26aid%3d4847%26MapURL%3d%253fAreaID%253d6401&Mode=0&PropertyID=4813578

$11,990,000?

Its an acre lot in Bel-Air with a view of the river valley. Someone will buy it bulldoze the shack and build a castle on the property.

[Hanzo]

Originally posted by Weapon_R
A bit too early to tell, July is a traditionally slow month as people vacation during this time.

July's results are out already, it's slowly down slightly but yeah too early to say it's a trend.

http://www.calgary-housing.blogspot.com/

is a good site that analysis calgary housing

[RiCE-DaDDy]

Another july result...

For all those following the van market, the July numbers are way more interesting. Sales of SFH is like down close to 30%. You can't blame that on the seasonal cycle. It's safe to say the market has changed in van, the question is now how the situation will unfold itself. crash? soft landing adjustment? this is exciting haha (and probably qutie stressful if I owned a home)

[sputnik]

Originally posted by Weapon_R
A bit too early to tell, July is a traditionally slow month as people vacation during this time.

:werd:

July through September are traditionally slow buying times for houses. People are on holidays and getting the kids back in school. The same goes for Dec-Feb as it is Christmas and usually pretty damn cold outside.

[l8braker]

Originally posted by sputnik


$11,990,000?

Its an acre lot in Bel-Air with a view of the river valley. Someone will buy it bulldoze the shack and build a castle on the property.

Agree. Our family friends live two doors down (you can see their shack on the far right) and that house for sale is a DUMP from the outside. 12,000,000 for a nice peice of land. Great location.

[draggin_frame]

There is some dump by my house listed for 355K. It is in Vista heights.:eek:

People need to give there head a shake.

[adam c]

Originally posted by sputnik


$11,990,000?

Its an acre lot in Bel-Air with a view of the river valley. Someone will buy it bulldoze the shack and build a castle on the property.

its now at an even 12...
wtf

[Hanzo]

People are greedy. I swear so many speculators in Calgary. I got some family friends that made about $100,000 by selling just one of the houses they bought last year...

[Aleks]

Originally posted by Hanzo
yeah I was planning on getting a house this year but due to the bubble, now i can't afford it....

anyways, prices are starting to drop, inventory has increased back to around 4200, still below average but I can see the housing market slowing down. Hopefully next year is when I can get my house...

damn speculators!

Just out of curiosity did you buy your new car?

[Hanzo]

Originally posted by Aleks


Just out of curiosity did you buy your new car?

yeah i blew the money i made on internship on my civic haha.

[codetrap]

.

[ashee]

Real estates deffinitly the right business to be in right now.

[sputnik]

Originally posted by ashee
Real estates deffinitly the right business to be in right now.

Actually, not really. Many real estate agents were having a tough time getting listings due to the lower inventories, so the only way for them to make money is to show houses listed by other agents.

Unfortunately a couple of months ago there would be 15-20 bidders per property and unless you could convince your client to bid through the roof they wouldnt get the house and the agent didnt make a dime.

My wifes uncle has been an agent in Calgary for over 20 years and said that this is one of the hardest times in his history to make decent money.

[Hanzo]

Originally posted by codetrap



Seriously though, I don't know anyone in thier right mind that would sell thier house in this market. After all, where are you going to go? Saskatchewan? Sure, we could sell our house and make 200G over what we paid.. Big Deal! Where we gonna live afterwards.. our car?



I think it's more for the ppl that own multiple houses to really cash in...

[HRD2PLZ]

A lot of my colleagues have had a relatively tough time this year. On the flip side, if you were able to get the listings and the sales it would have made quite a good year. I was one of the fortunate ones as I have had an astounding year :burnout: There wasn't always 15-20 offers on a single property, but a few months ago most properties were going multiple offers either at, or above list. Not so much "convincing" a client to pay more than list, it all depends how bad they wanted the property.

I actually have quite a number of clients who are selling or have sold and decided to relocate outside of the city or province. I guess for those who were "riding the fence" about moving, the increased pricing made their mind for them :)

[Iqoair]

Originally posted by HRD2PLZ
A lot of my colleagues have had a relatively tough time this year. On the flip side, if you were able to get the listings and the sales it would have made quite a good year. I was one of the fortunate ones as I have had an astounding year :burnout: There wasn't always 15-20 offers on a single property, but a few months ago most properties were going multiple offers either at, or above list. Not so much "convincing" a client to pay more than list, it all depends how bad they wanted the property.

I actually have quite a number of clients who are selling or have sold and decided to relocate outside of the city or province. I guess for those who were "riding the fence" about moving, the increased pricing made their mind for them :)


How are you finding the market now? Looks like alot of people are still thinking they could get the numbers they could in May/June. I'm seeing alot of the same houses that sold then for 20-30K less now (400-450K range). Looks like alot of stale listings on the market going way over 30 days. Funny how fast the market can shift.