Current Calgary's real estate market

[GOnSHO]

me and my fiance are now waiting until jan/feb

[s2k_boi]

Originally posted by freshprince1
We are starting to look for a house more seriously now too. We'll have a 10% DP on anything under 350K, but don't know if we should wait a little longer now since prices look like they're going to slide...opinions? When would you buy your first home? Now? or wait till January?

I think it's going to be personal preference. You are probably talking to different ppl. It is a buyers market as we stand. Some say the market is going to pick up after the new yr and some forecast the market to pick up again in April. So it's a gamble / risk you have to decide upon yourself. You can find some decent properties for under 350k right now (depending on what you want/what your looking for)

[HRD2PLZ]

Our current market is definitely a buyers market, the best buyer's market we have seen in just about 10 years (according to my Broker). I have been super busy with first time buyers wanting to get into their own properties. Interest rates are relatively low, the city's unemployment is low and there is SO much inventory to choose from. After Stelmach's royalty decision, I have seen activity slowly pick up. The fall/winter is generally the best time to buy because historically we see a little bit of a price increase come spring.

[Toma]

And with projections from the patch saying only half as many wells will be working as 2006, and so many layoffs in the service end of the industry... we may see some good deals in housing come up as the careless shmos that bought two F350 SuperDuty Diesles, a sportscar and more house then thay can afford get foreclosed....

According to Creb, October was down another 1.9%.... that's 3 consecutive months of price drops....

[01RedDX]

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[Mangina]

Originally posted by GOnSHO
me and my fiance are now waiting until jan/feb

What? That's typically the worst time to buy.

[sputnik]

Originally posted by Mangina


What? That's typically the worst time to buy.

It is actually the best time to buy as there are the least number of buyers in the market.

[freshprince1]

Originally posted by sputnik


It is actually the best time to buy as there are the least number of buyers in the market.

I was told by a realtor that right in the new year is traditionally the best time to buy too. I think we're gonna hold off another couple of months. Thanks for the input guys.


...unless anyone wants to give us a steal of a deal.

[Moonracer]

Originally posted by freshprince1


I was told by a realtor that right in the new year is traditionally the best time to buy too. I think we're gonna hold off another couple of months. Thanks for the input guys.


...unless anyone wants to give us a steal of a deal.

Do you want a condo by MacKenzie town? Ours is priced to go as our house is almost ready. Let me know and I'll pm you the link to it.

[Mangina]

Originally posted by sputnik


It is actually the best time to buy as there are the least number of buyers in the market.

People wait until after Christmas to buy. Prices go up when people are buying.

[SilverRex]

well with such high inventory levels, I think this is where it becomes alittle risky to buy at this time,

I mean I would rather wait till inventory falls back down to around a healty 5000 range overall (now around 9-10k) so that buyer/sellers are balanced.

since we dont really know how the oil industry news will affect alberta, we could easily be at the edge of a tipping point. IT could go both ways.

[KappaSigma]

Originally posted by Mangina


People wait until after Christmas to buy. Prices go up when people are buying.

Doesn't mean much when the supply is flooded.

[Kobe]

There is about 8050 houses on MLX around now I think, so it has gone down, but it is still huge...

What about all the huge buildings that are getting built downtown right now? Driving downtown every 2 blocks there is a huge building getting made, that is def going to bring more people into calgary...

[Mangina]

Originally posted by KappaSigma


Doesn't mean much when the supply is flooded.

If you look around, you'll see that most listings have dropped their prices by 30 to 80K. (If you have access to MLxchange) What more are you waiting for? As soon as spring comes around those prices will shoot back up.

[Antonito]

Originally posted by Mangina


If you look around, you'll see that most listings have dropped their prices by 30 to 80K. (If you have access to MLxchange) What more are you waiting for? As soon as spring comes around those prices will shoot back up.

Or not.

[autosm]

Now might be the best time this year to buy but I think it will decline further into the next year .

[modded46]

You wait till the spring/summer of next year you're going to be paying a lot for a house.. all the office buildings getting finished off are going to be full of people needing a place to live.. there are still very few rentals available so as most of the people who are renting now are into houses there's going to be another shortage..

I couldn't even begin to express how absolutely insanely busy we are right now.. If there is a slow down right now..We're definitely not seeing it in the IT Industry.

I think what we're seeing happen is companies dumping a lot of money into their infrastructure to prepare for the next big wave.. Oil will be well over 100.00/bbl and the oil sands of Alberta are just starting to produce some big numbers.. much more to come in the future..

[thrasher22]

^^ I'm in IT too, our company is posting record profits as of late. Just because house prices are falling it doesn't mean calgary is shitting the bed, its just a correction for the unnatural growth the last couple years.

That being said, I want prices to soar come spring

[codetrap]

Just saw on the news, that the housing market prices are up 10% over Sept last year.

[01RedDX]

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