FALLing house prices

[max_boost]

Originally posted by 89coupe


Got any examples?

I'm still seeing big dollar homes selling for close to asking price, of course these homes are within market value.

A home right near me just sold for asking, $835,000.00

222 Riverfront AVE SW
Waterfront Condos

Unit 2027, listed for 1.05mill last year, re-listed for 1.21mill right now. Couldn't sell so let's raise the price! Builder owned.
Unit 2113, finally sold at 950k, but was listed at 1.05mill last year. Builder owned.
Unit 2222, listed for 649, reduced to 639, now listed at 629. Builder owned.

Unit 1927, asking 729k which is absolutely ridiculous because unit 1827 is asking 605k (same size unit, just 1 floor lower). Both privately owned.

You can also look up unit 220, it was a 1 year for sale if I recall lol Listed at 420, then 403, 379, last check it was 359 and I think it's gone now or pulled.

Personally I have my eyes on unit 2023, gonna make an offer when I come back from vacation.

This is just for ONE condo complex. I can't even imagine all the other shit going on in the City haha

It comes down to, do you wanna make a deal or not? Some of these sellers and or builders just don't give a shit haha The first 3 units 2027, 2113, 2222 are all brand new non lived in so Anthem has just been paying the taxes since 2012? lol

[89coupe]

Originally posted by max_boost


222 Riverfront AVE SW
Waterfront Condos

Unit 2027, listed for 1.05mill last year, re-listed for 1.21mill right now. Couldn't sell so let's raise the price! Builder owned.
Unit 2113, finally sold at 950k, but was listed at 1.05mill last year. Builder owned.
Unit 2222, listed for 649, reduced to 639, now listed at 629. Builder owned.

Unit 1927, asking 729k which is absolutely ridiculous because unit 1827 is asking 605k (same size unit, just 1 floor lower). Both privately owned.

You can also look up unit 220, it was a 1 year for sale if I recall lol Listed at 420, then 403, 379, last check it was 359 and I think it's gone now or pulled.

Personally I have my eyes on unit 2023, gonna make an offer when I come back from vacation.

This is just for ONE condo complex. I can't even imagine all the other shit going on in the City haha

It comes down to, do you wanna make a deal or not? Some of these sellers and or builders just don't give a shit haha The first 3 units 2027, 2113, 2222 are all brand new non lived in so Anthem has just been paying the taxes since 2012? lol

Eesh

[BigMass]

nothing like owners listing their units for more than what a builder is still trying to sell the same unit (brand new and on a higher floor) for. I really wonder what their real estate agent is advising them.

[Xtrema]

Originally posted by max_boost
BigMass isn't making it up. Some of the prices are out of whack and will sit on the markets for months, pulled, and re-listed again.

Bigmass did describe a portion of sellers. A 1600 sq ft bungalow was listed at $630, adjusted to $599 and went for $575. it was on the market for 5 months. I low balled $550 but rejected, LOL.

It a good place for my folks who are sick of stairs.

[ddduke]

Originally posted by max_boost


222 Riverfront AVE SW
Waterfront Condos

Unit 2027, listed for 1.05mill last year, re-listed for 1.21mill right now. Couldn't sell so let's raise the price! Builder owned.
Unit 2113, finally sold at 950k, but was listed at 1.05mill last year. Builder owned.
Unit 2222, listed for 649, reduced to 639, now listed at 629. Builder owned.

Unit 1927, asking 729k which is absolutely ridiculous because unit 1827 is asking 605k (same size unit, just 1 floor lower). Both privately owned.

You can also look up unit 220, it was a 1 year for sale if I recall lol Listed at 420, then 403, 379, last check it was 359 and I think it's gone now or pulled.

Personally I have my eyes on unit 2023, gonna make an offer when I come back from vacation.

This is just for ONE condo complex. I can't even imagine all the other shit going on in the City haha

It comes down to, do you wanna make a deal or not? Some of these sellers and or builders just don't give a shit haha The first 3 units 2027, 2113, 2222 are all brand new non lived in so Anthem has just been paying the taxes since 2012? lol

There seems to be something wrong with everyone in that building. My friend just bought a new place and is having issues selling her 2nd floor unit, which isn't anything spectacular as it's just a 2 bed 2 bath roughly 1000 sqft place so she decided to rent it out for $4500/month (which I'm pretty sure she'll never get).

[max_boost]

It's a nice building but definitely paying a premium. I have looked at quite a few over the past few years and really do have it settled here. I know what I'm getting into so no ragrets lol I'm too lazy for home ownership, too much space and too much cleaning. I might as well move up price wise while I can. If I go mort free I will just blow it all elsewhere lol

[roopi]

Originally posted by ddduke


There seems to be something wrong with everyone in that building. My friend just bought a new place and is having issues selling her 2nd floor unit, which isn't anything spectacular as it's just a 2 bed 2 bath roughly 1000 sqft place so she decided to rent it out for $4500/month (which I'm pretty sure she'll never get).

Furnished?

[ddduke]

Originally posted by roopi


Furnished?

$5000 furnished.

[Xtrema]

Originally posted by roopi


Furnished?

Consider you can have a furnished 2 bedroom executive suite at Eau Claire including utilities, internet for about $4000 a month, I would assume so. Riverfront being a bit more upscale with some amenities, $4500 isn't bad.

The question is, I have no idea if the executive suite market is still booming or not.

Originally posted by ddduke


$5000 furnished.

That's on monthly rate or nightly rate? Is anyone really fetching that at Riverfront?

https://www.rentfaster.ca/calgary-co...sgl-dbl-107090

Yeah, $4500/mth furnished. You won't be competitive @ $5K.

Other competitors $4000 and down:

https://www.rentfaster.ca/calgary-co...cutive-54203_2

https://www.rentfaster.ca/calgary-co...m-river-108316

[ddduke]

That's on a monthly with a lease. It's not competitive at all because the one you showed has 2 wall of windows, fireplace and a decent sized living room that faces the river.

Hers is what looks like a cookie cutter Mckenzie Towne unit with no fireplace, less windows, no den and faces the opposite direction so you don't get river views.

[msommers]

$5000/month for a 2nd floor 2 bedroom place? That's fucking hilarious.

[max_boost]

^^^ Not to mention it's probably 900sq.ft

[BigMass]

if this isn't the view from my apartment I'm not paying $5000 for anything


we're still talking about Calgary here right? C_A_L_G_A_R_Y as in Alberta, Canada?

[scboss]

That view is prob over 50k a month lol

[Xtrema]

Originally posted by ddduke
That's on a monthly with a lease. It's not competitive at all because the one you showed has 2 wall of windows, fireplace and a decent sized living room that faces the river.

Hers is what looks like a cookie cutter Mckenzie Towne unit with no fireplace, less windows, no den and faces the opposite direction so you don't get river views.

Your friend is probably upside down now, trying to time a quick flip. The good thing is it's only a $400K unit so she probably can break even at $2000-$2500.

Still, unit is too cheap to be executive suite, rent too expensive for low end. Not many people will pay that to look at a parking lot.

[GQBalla]

He knows his friend won't get it

[JordanLotoski]

Originally posted by BigMass
if this isn't the view from my apartment I'm not paying $5000 for anything


we're still talking about Calgary here right? C_A_L_G_A_R_Y as in Alberta, Canada?

That view will cost you 30-50k a month

[HiTempguy1]

Builders in Edmonton are definitely willing to settle for less cash.

In negotiations for a new build starter home with a triple detached garage out back (30' wide and still space to park a car trailer) on a pie lot! All things considered, the pie lot is a free upgrade price-wise and the garage is pretty damn cheap (just a shell with power, but garages add up). They already offered me $15k off their initial price without me asking. If they knock another $15-20k off, we have ourselves a deal methinks!

[BigMass]

Originally posted by HiTempguy1
Builders in Edmonton are definitely willing to settle for less cash.

In negotiations for a new build starter home with a triple detached garage out back (30' wide and still space to park a car trailer) on a pie lot! All things considered, the pie lot is a free upgrade price-wise and the garage is pretty damn cheap (just a shell with power, but garages add up). They already offered me $15k off their initial price without me asking. If they knock another $15-20k off, we have ourselves a deal methinks!

I thought builders / developers never lowered their prices because of assurances they give to original purchasers. Or at least for condos. They don't want people to hold out on buying because they're worried prices will drop so they have it in the contract that they won't sell for less than their list. The most they do is throw in options. Like free upgrades / granite etc. Never looked into it really but I thought that's why I never really see prices drops in condo developments even though some listings have been on the market for YEARS. Look at Riverfront Pointe. The developer has been trying to sell the same units for years now without a single price drop.

[HiTempguy1]

Originally posted by BigMass


I thought builders / developers never lowered their prices because of assurances they give to original purchasers. Or at least for condos.

House prices are open season AFAIK. I've never had a problem negotiating price. New house builds are sort of like new car purchases... there is an "msrp" and the builder sells the house for that much. If things get tough, they offer discounts, and you can negotiate with them if they really want the sale.