Listing price vs. What you paid?

[Melinda]

So now that there has been a bit of a slow down in the housing market here, it seems people are able to offer a little bit less than asking price and sometimes get away with it. We're looking to put our house up for sale in the next few weeks and move up to something a little bigger. It turned into a big debate the other night with friends of ours how much less or more you can or have to offer on a house instead of asking price.

So for those of you who have bought a house recently (after the summer) what was your asking price and what did you end up paying for the place you bought? Or for those of you who have sold a place since then, what was your asking price vs. what was your final sale price?

[sputnik]

We listed our place for $377k in October and sold it in late December for $350k.

[teggypimp95]

Bought our house for 385 in late november, its now been appraised at 420.

You will get more for your house if you wait a bit. The prices are on the rise this year again. But saying so, you would also be paying more for your next place.

Sorry kinda miss read your question.
The house we bought was listed at 400, and we settled on 385.

[98type_r]

Friend of mine bought a house in November, list price was $425k, their purchase price was $400k

[Weapon_R]

20-35k seems to be normal right now.

[Chris101]

Just bought a condo for $253k, originally listed at $280k.

[Canmorite]

Originally posted by Chris101
Just bought a condo for $253k, originally listed at $280k.

Thats a good chunk off the listing price! :thumbsup:

[ralliart_girl]

Originally posted by Chris101
Just bought a condo for $253k, originally listed at $280k.

Can I ask what area this is around? I'm also thinking about getting a condo as well.

[ecstasy_civic]

Listed for 347
Paid 339

[Chris101]

Originally posted by Canmorite


Thats a good chunk off the listing price! :thumbsup:

Yeah the previous owners had less than a month before they took posession of their new house. Combine that with the way the market is right now and we figured we could go in quite low and they would bite.


Originally posted by ralliart_girl


Can I ask what area this is around? I'm also thinking about getting a condo as well.

Its in Mackenzie Towne. In the 4 buildings directly behind the Safeway.

[Melinda]

Wow, it's actually quite surprising to hear how much people are paying for apartment style condos these days. We have a 1049 sq/ft end unit townhouse that's only a few years old w/ maple hardwood, gas fire place ect and we're only looking to get $305,000 or so for it. Hopefully that means we won't have too much trouble selling!

[spikerS]

my best friend bought his condo in Nov. they were asking 369, he paid 320. (1400 sq/f)

another friend of mine is looking to buy. there is one he put an offer on. asking 254, he put an offer of 220, and they counter-offered 239. no idea if he accepted it or made another offer yet. (~900 sq/f)


I know there was a place areound the corner from me. listed at 420, and i heard it sold for 344.

[Ajay]

Looks like the days of getting over the asking price may be over in Calgary's housing market.

[Kloubek]

One hint for those buying: Look at lots of places and select TWO you really like. Offer lower than you expect to pay for it, and they will probably counter. Counter back a reasonable amount more, and STOP. Say to your realtor that you will not go ANY higher, and they can either take it or leave it. If you're reasonable, many will just take the deal. And if you have two homes you're willing to take, then you're not pressured to give in because it's likely one will accept.

Of course, this strategy only works if you counter with a reasonable price. But I did this before on my last two places, and walked away with a smokin' deal both times.

[HRD2PLZ]

Last place I sold was listed for $279,900 had been on the market for 14 days and we got it for $256,000.

[HRD2PLZ]

Originally posted by Melinda
Wow, it's actually quite surprising to hear how much people are paying for apartment style condos these days. We have a 1049 sq/ft end unit townhouse that's only a few years old w/ maple hardwood, gas fire place ect and we're only looking to get $305,000 or so for it. Hopefully that means we won't have too much trouble selling!

You shouldn't have a hard time selling, its in the price range right now that is moving in Calgary.

[CRXguy]

Our condo in McKenzie Towne sold for $270k, and it was originally listed at $289,900. Took a little over 2 months to sell.

We just bought a single house and paid $340k, and it was originally listed at $350k.

[Bushy]

I bought a townhouse in Okotoks (a little cheaper than calgary), paid $210,000 last december, and my neighbor just sold his for $270. Not doing too bad. Its just over 1000sq ft, 2 bed/2 bath. Glad I bought when I did, we were gana wait thinking it had to come down.

[SikAssR1]

Before I moved out to BC I listed my house for 455,000 (realtors said it wouldnt go for more than 415-425,000. 12 days later it sold for 447,000:D

[whodiman]

Anyone that lists their house and says it is below the city appraised price isn't necessarily giving you a deal. All of the properties were evaluated on June 2007 prices. As you all know prices have dropped on average about 50k so everybody's house is below city appraisal right now. Don't be fooled by this when you look at somebody's house. My assessment says my place is worth 405 and no bloody way anybody is going to pay me that for my place.

Prices are all over the map right now. Some people are way out to lunch and sellling 40k above market so getting 20k off is still a rip off. The people who are listing their house at a bargain don't even need to drop their house any. Just do your research and you should be able to find a good deal out there.

[Big Daddy G]

Originally posted by whodiman
Anyone that lists their house and says it is below the city appraised price isn't necessarily giving you a deal. All of the properties were evaluated on June 2007 prices. As you all know prices have dropped on average about 50k so everybody's house is below city appraisal right now. Don't be fooled by this when you look at somebody's house. My assessment says my place is worth 405 and no bloody way anybody is going to pay me that for my place.

Prices are all over the map right now. Some people are way out to lunch and sellling 40k above market so getting 20k off is still a rip off. The people who are listing their house at a bargain don't even need to drop their house any. Just do your research and you should be able to find a good deal out there.

Solid advice in my opinion.

If you are looking through places on MLS, and you look at some of the pictures, check and see if some of them have nice green grass in them. That is usually a sign that a property was listed in the summer originally and didn't sell.

Lazy ass realtors didn't take new pictures, the potential buyer can see that maybe they are getting a little more desperate to sell now, and you can swoop in there and low ball the bastards.

At least that is my theory, but I'm going to test it as soon as we are ready to buy.

On the flip side, there could be a reason the place didn't sell in the first place, besides being over priced.

[89coupe]

Originally posted by Melinda
Wow, it's actually quite surprising to hear how much people are paying for apartment style condos these days. We have a 1049 sq/ft end unit townhouse that's only a few years old w/ maple hardwood, gas fire place ect and we're only looking to get $305,000 or so for it. Hopefully that means we won't have too much trouble selling!

Is it located in the downtown core?

If not, I don't know of many people that would be interested in buying a condo or townhome in the burbs.

[Melinda]

Originally posted by HRD2PLZ


You shouldn't have a hard time selling, its in the price range right now that is moving in Calgary.
Thanks for the vote of confidence Trev! We're hoping not to have too much of a wait between listing and being able to get it sold, but I guess only time will tell!

Haha if anyone is interested in a beautiful townhouse in evergreen, let me know!

[lint]

Originally posted by 89coupe


Is it located in the downtown core?

If not, I don't know of many people that would be interested in buying a condo or townhome in the burbs.

There are plenty of condo developments outside the dt core. Condos are still a cheaper alternative to get into the housing market for a lot of people, and the maintenance free lifestyle is still appealing to many buyers.

[ZorroAMG]

Best time to list for HOMES is in the spring, prices go up and that's when families look to buy so that they can close, be settled in and ready for the school year in the fall.

[mikestang]

mine was listed for 585,000 in the spring... i got it for alot less than that.. and I just got an offer for a profit ;)

muhahahah nothing like buying a house at the worst time, flipping it and making money... im a genius ;D

[HRD2PLZ]

Originally posted by Melinda

Thanks for the vote of confidence Trev! We're hoping not to have too much of a wait between listing and being able to get it sold, but I guess only time will tell!

Haha if anyone is interested in a beautiful townhouse in evergreen, let me know!

Evergreen is a popular community, so I really don't think you'll have a problem. I have sold lots of condo's and townhouses in there with no problems.

Let me know if you are thinking of listing or have listed it, I am working with a client right now it may work for :)

[Melinda]

Originally posted by HRD2PLZ
Let me know if you are thinking of listing or have listed it, I am working with a client right now it may work for :)
We're working with our agent to try and have it listed within the next 2 or 3 weeks :) Let me know if you want any more details

[HondaRice]

How about what people purchased there home for in the past 1 year and thre lising price?

[dr_jared88]

well calgary may finally be slowing down, but regina on the other hand is on the upswing calgary had a couple years ago. i just put an over $15k over asking and still got beat by $20k additional :(

[blownz]

I think the reason people are getting so much off of the list prices is that most of the sellers in AB are in a dream world thinking it is still last May.

Friends of mine in Calgary just recently put their house up for sale privately and sold it in a week for exactly asking price (2 other offers just under came in). They were smart enough to put a realistic price on the place though. So many houses are just way overpriced.

I see the same thing in Edmonton. I keep a pretty close eye on my neighborhood since I am thinking about building again and you constantly see 2 houses basically identical listed 50k apart. One sells really quick and the other is on the market for 6 months and 2 price drops because the owner (maybe realtor) still thinks it is last spring.