Calgary real estate prospects

[vengie]

This quote is hidden because you are ignoring this member. Show Quote

Your missing the poing that A few people have already said their listing in spring so why not list now? Your closing can take 60 days then factor in that it may take a couple weeks or more to get an offer and you can be 3 months out. You can also port your mortgage up to 4 months after your close if you wanted to wait the market out before moving into a new place. That can put you as far out as fall if your concerned about buying and selling at a peak.

If you have to list 60 days from now the market isn't going to have changed that much other then you'll have way more competition to sell against.

The market isn't going to calm down until interest rates start rising.

This hysteria is about people trying to lock into a rate for the next 5 years.

Sell now, sell in the spring, it isn't going to matter - So sell based on your personal situation - For some that may be Spring which is why they haven't listed now.

[Disoblige]

Also just logistically speaking, I rather sell when I am 100% ready to vs. listing it early and dealing with a bunch of showings when I'm only half committed. Just not a very fun way to live when I can just do it for a month or two instead and likely get a good offer anyways (depending on your specific circumstances)

[pheoxs]

This quote is hidden because you are ignoring this member. Show Quote

Also just logistically speaking, I rather sell when I am 100% ready to vs. listing it early and dealing with a bunch of showings when I'm only half committed. Just not a very fun way to live when I can just do it for a month or two instead and likely get a good offer anyways (depending on your specific circumstances)

Plus the number of active listings is way down right now. It's probably easy to sell but then you are limited on what there is to buy. At least in April or so then more people are listing so even if the markets hot you have a bit more options

[ExtraSlow]

Bros, now is a great time to buy/sell/anything. - every realtor ever.

[RX_EVOLV]

Literately just got an email from my realtor about 5 mins ago saying inventory down, listing down, demand up , blah blah.. now it's the time to sell.

[msommers]

This quote is hidden because you are ignoring this member. Show Quote

Bros, now is a great time to buy/sell/anything. - every realtor ever.

Bro I need that sweet, sweet commish.

[Twin_Cam_Turbo]

Im planning on listing in the Spring, but only because I have a tenant who needs to gtfo so I can paint the place before listing it. I am not really rushed at buying though, I’ll wait another year if I have to.

[gwill]

have you given your tenants notice? May want to be proactive on that if they try and claim covid related excuses down the road.

[Twin_Cam_Turbo]

This quote is hidden because you are ignoring this member. Show Quote

have you given your tenants notice? May want to be proactive on that if they try and claim covid related excuses down the road.

I gave them 2.5 months notice I won’t be renewing the lease and they acknowledged it.

[Perceptionist]

Seems to me like we may have seen the bottom for Calgary real estate, or at least single family homes. Oil prices have recovered and are rising, the cost to build new homes keeps going up, interest rates <2%, and real estate booming in the rest of the country. High unemployment has been a drag but its a relatively affordable market for those that have jobs.

[bjstare]

This quote is hidden because you are ignoring this member. Show Quote

Seems to me like we may have seen the bottom for Calgary real estate, or at least single family homes. Oil prices have recovered and are rising, the cost to build new homes keeps going up, interest rates <2%, and real estate booming in the rest of the country. High unemployment has been a drag but its a relatively affordable market for those that have jobs.

I'm not so sure. There's a shitload of people that have been laid off, but are still going to stay put until EI runs out/until they have no hope left of finding a job here (Husky is the most recent example, but this is happening many other places to varying extents). Real estate should lag unemployment which is basically at an all time low. We don't see unemployment impact housing prices until EI and CERB runs out and people are moving elsewhere for work (or taking lower paying jobs and can't afford their mcmansion anymore). I'm not sure what relevance real estate elsewhere in the country has, aside from the fact that the economy is better elsewhere than here, which would only be a catalyst to drive our prices further down as people might move away for higher pay/more upward mobility

[Neil4Speed]

I think the part that concerns me is the net negative migration expected in Alberta over the next few years, but they keep building houses. Simple math of course, but hard to say. Just closed on a place yesterday (our first family home), so feeling I started at the right time by negotiating about a month ago when many houses were still going significantly below list in our price bracket (~650-800)

[killramos]

Meh I just hope some of these developers lose their shirts on an unsellable neighborhood.

[pheoxs]

This quote is hidden because you are ignoring this member. Show Quote

I think the part that concerns me is the net negative migration expected in Alberta over the next few years, but they keep building houses. Simple math of course, but hard to say. Just closed on a place yesterday (our first family home), so feeling I started at the right time by negotiating about a month ago when many houses were still going significantly below list in our price bracket (~650-800)

Is there really going to be a net migration out though? Even in 2019 we still had a influx of people, it was only 2020 that we finally had more people leaving than coming here but considering covid and work from home / work remotely that sorta makes sense. At the end of the day although our unemployment is higher we still have higher wages than elsewhere in Canada.

[vengie]

This quote is hidden because you are ignoring this member. Show Quote

Meh I just hope some of these developers lose their shirts on an unsellable neighborhood.

This.

Developers - Buncha jerks.

[killramos]

I won’t pretend to care either way about them, but frankly someone needs to lose some money big time to make them second guess these perpetual expansions.

[ercchry]

This quote is hidden because you are ignoring this member. Show Quote

I won’t pretend to care either way about them, but frankly someone needs to lose some money big time to make them second guess these perpetual expansions.

Just like Wall Street... that’s gonna be the retail people... these developments are layered in a way to make certain that the parent companies always survive... or at least the ones with beneficial ownership... just ask @max_boost

[msommers]

This quote is hidden because you are ignoring this member. Show Quote

I think the part that concerns me is the net negative migration expected in Alberta over the next few years, but they keep building houses. Simple math of course, but hard to say. Just closed on a place yesterday (our first family home), so feeling I started at the right time by negotiating about a month ago when many houses were still going significantly below list in our price bracket (~650-800)

Well said. It's been hypothesized that newer generations are going to slowly leave the province because there isn't a lot keeping them here.

[bjstare]

This quote is hidden because you are ignoring this member. Show Quote

Just like Wall Street... that’s gonna be the retail people... these developments are layered in a way to make certain that the parent companies always survive... or at least the ones with beneficial ownership... just ask @max_boost

This is true. It would take incredible circumstances for an established developer to lose their shirt... like there's almost no way.

[Buster]

This quote is hidden because you are ignoring this member. Show Quote

well said. It's been hypothesized that newer generations are going to slowly leave the country because there isn't a lot keeping them here.

ftfy