In the last 2 days there were 102 solds, 14 of them went at list or over list price.
The sky isn't quite falling on the Real estate market as of yet.
12 sales posted today, 4 are at list or over list
In the last 2 days there were 102 solds, 14 of them went at list or over list price.
The sky isn't quite falling on the Real estate market as of yet.
12 sales posted today, 4 are at list or over list
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Ya everyone listen to what the real estate agent has to say
Last edited by Canucks3322; 01-25-2015 at 06:45 PM.
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Last edited by 01RedDX; 10-02-2020 at 10:16 PM.
Only the facts....Don't get me wrong its a slower start then the past few years but things are still movingOriginally posted by 01RedDX
He has no reason to lie. It's true, the market is still technically very strong and prices are through the roof. -0.4% is nothing.
The most alarming factor is the rapidly rising inventory, quickly approaching 5,000 listings. A few thousand more and we will start to see falling prices. At this rate, we could see 7-8,000 listings by summer.
We had 12,000 listings in the 4th quarter of 2010
"BEYONDS OFFICIAL REALTOR"
Instagram @jordan_empirewest
Ranked #1 RE/MAX Professionals (2013-2022)
Ranked #2 RE/MAX Agent Calgary (2017-2020)
Ranked Top 100 Re/Max agent Western Canada (2013-2021)
Ranked #56 RE/MAX Agent Worldwide (2014)
Ranked Top 100 Re/Max Agent Canada (2013-2020)
Check out my mobile app
goagent.ca/98F1B2F9
You are saying I told you so a quarter later?
Come on. Thousands of lay offs after your OP and you're saying I told you so?
My Tesla referral link: https://ts.la/moon14483
Tesla new owner FAQ: https://forums.beyond.ca/threads/411...37#post4928237
takes time. If someone loses their job they're not going to come home and the first thing they do is call an agent to list their home. Wait until the savings run out, the EI runs out, the RRSP runs out, people stop renting and move out of Calgary etc. Lots of things left to happen before we start to see a material drop in average prices. 4500 listings is actually not a lot for a city this large. Now looking at affordable listings between 150-250-300 there's almost nothing. Plus with the BoC reacting like scaredy-cats everytime an asset class drops (stocks, real estate, oil, etc) there's little chance the government and BoC won't do everything in their power to keep prices up.
I think we ain't seen nothing yet. Probably won't for another 6 months.
I wonder what percentage of Calgarians work for O&G service companies? Here's where I suspect the major cuts will be, especially in field positions as soon as break up hits.
Unfortunately break up has already hit for a lot. Many of us are on our last jobs
Ultracrepidarian
the thing is, in Calgary, O&G is the epitome of trickle-down. So 1000 layoffs in O&G would trickle down to layoffs at service industries, maids, cleaning, daycare, fastfood, accounting, tech/IT, real estate agents, lawyers, car dealerships etc.. pretty much everything. O&G is what we produce, the rest are just services and consumption industries that are a byproduct of the wealth that comes from the production of O&G. So 1 layoff in O&G counts more in terms of negative impact to the economy than any other sector in this city. People might not see how their kid being laid off from McDonalds is a direct result of some dude 4 months ago getting laid off in O&G. It's not immediately evident.Originally posted by Feruk
I think we ain't seen nothing yet. Probably won't for another 6 months.
I wonder what percentage of Calgarians work for O&G service companies? Here's where I suspect the major cuts will be, especially in field positions as soon as break up hits.
Ya this warm weather isn't good.Originally posted by msommers
Unfortunately break up has already hit for a lot. Many of us are on our last jobs
It's more of a double-whammy than the primary factor. It's so muddy out here alreadyOriginally posted by mr2mike
Ya this warm weather isn't good.
Ultracrepidarian
Originally posted by msommers
Unfortunately break up has already hit for a lot. Many of us are on our last jobs
I've got about 50 more days on this pad then there likely wont be much for a little while anyways.
I also know of at least a dozen guys at our company that have been sitting for 2+ months.
We stopped checking for monsters under our beds when we realized they were inside us.
The American economy is on the verge of cratering.
Fall 2015 is not going to be a good time for anyone.
So basically of the 102 solds... 88 were under asking.Originally posted by JordanLotoski
In the last 2 days there were 102 solds, 14 of them went at list or over list price.
^ Puts it in perspective a little more accurately
Ultracrepidarian
Of course Jordan or any other realtor would never word it that way. ...
Check out this gem only $430,000! Better snatch it up quick before prices go up again!!
http://forums.beyond.ca/st/388910/ju...oom-chocolate/
That's still pretty reasonable though. Usually in business the price the seller wants is.negotiated down from. RARELY do people want to pay more.Originally posted by sputnik
So basically of the 102 solds... 88 were under asking.
The main reason that happens is in large part due to emotion (the idea you can't have exactly what you want). The only other factor is rarity, as prime locations are rare, which is reasonable.
My girlfriend, if she finds *insert item here* that she wants, has no problem paying full price if it is perfect, even if you could literally ask for 10% off the price and get it no sweat.
Some people just don't operate like that, and I can assure you, having a combined gross income of over $200k in this province doesn't mean you are a genius or savvy in life. For a million dollar house, there are PLENTY of people that could give a shit less about $50k over. I'll never be one of those people, but they are out there.
$430k w/ $480 condo fees on the 2nd floor, 2 bedroom, 925 sq. ft.Originally posted by Canucks3322
Check out this gem only $430,000! Better snatch it up quick before prices go up again!!
http://forums.beyond.ca/st/388910/ju...oom-chocolate/
Prices are still pretty high it seems. I'll be in my place forever
Ultracrepidarian
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Last edited by 01RedDX; 10-02-2020 at 10:15 PM.