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  1. #21
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    How do you know that? Is there a way on Realtor.ca to filter by foreclosures?

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    Jesus, that listing for 34 Patina lane is brutal. For over a million, you should have more than one picture, and more than two sentences.

    This is what people complain about when they discuss lazy realtors. Jordan would never have let me list my home in such a manner.
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    Originally posted by ExtraSlow
    Jesus, that listing for 34 Patina lane is brutal. For over a million, you should have more than one picture, and more than two sentences.

    This is what people complain about when they discuss lazy realtors. Jordan would never have let me list my home in such a manner.
    That's why it's a foreclosure. They usually list with a low price and not much info to see if any foreclosure hunter bites.

    Something these need so much work inside, showing pictures will be counter productive. The fact that it said "The garage is in need of major repairs", and the unpaved driveway since 2012, means this listing will be a project. Nobody ever say anything negative in listings.
    Last edited by Xtrema; 01-19-2015 at 04:09 PM.

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    Originally posted by BigMass


    if oil is at $45 and layoffs are happening, I'd argue that the the economic situation of today is far worse than it was 1.5 years ago. Heck, 1.5 years ago I had a great job with a great future, now laid off with a bleak outlook. So IMO the price should be far less than what it was 1.5 years ago not more.
    So all houses in Calgary should be priced far less than 1.5 years ago? If oil stays down maybe that will be true, but as of 2 months ago when this house was listed, average places in Calgary were up at least 10% per year the last few years.

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    Originally posted by chinostyles
    How do you know that? Is there a way on Realtor.ca to filter by foreclosures?

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    Isn't this a good time to buy then? Or wait a little if the projection is that prices will drop further? Been contemplating getting a condo in downtown for investment purposes so of course will be holding on to it for a while till the rent pays off the mortgage. If the projection is that the prices are going to fall, should be a good time to buy? Question I guess is when exactly..

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    Not a good time to be buying.^^ If you can wait...Then wait. There are a ton of condo projects coming together this next year in Calgary, and my guess is that a ton of them were bought as Rental investments. I can't see the calgary market holding when 15% of workers are laid off.

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    ..

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    Originally posted by 7thgenvic
    I can't see the calgary market holding when 15% of workers are laid off.
    It's not like unemployment is going to spike 15%. Most of the laid off folks get new jobs, and life goes on.
    Originally posted by SEANBANERJEE
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    .
    Last edited by kaput; 03-12-2019 at 12:57 AM.

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    The first place, why would you pay $2M for a place backing onto the 1A highway?!?
    Unless of course you're deaf.

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    The situation that is not garnering the attention it deserves is the conventional drilling industry and all local/regional ancillary/supporting industries that go along with it.

    So much of our economy is driven by specialty trades and services from oilfield equipment rentals to the custom fab shop specializing only in downhole measurement tools to the niche finance operations that fund these companies..

    -forget the guy laid off from Suncor that may have had the financial wherewithal to plan for a situation like this, not to mention the 12 months severance he got that will float him for the next year or more-

    When rigs don't get booked out next winter after coming back from break up this year is when you'll see the pain. Why do you think the majors' stock prices aren't down relative to the price/bbl yet the smaller and medium drillers and EPs definitely are down +50% [PD] on the year.... cuz next winter is gonna be a rough ride.

    It's the welder, equipment operator etc that won't get a healthy severance, that has two vehicle loans, toys, a useless wife that doesn't work and spends too much money living paycheck to paycheck that will feel it.
    Originally posted by ExtraSlow
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    rizfarmer nailed it.
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    The economic climate was worse in 2009/2010. Not only did oil prices tank (driving the same effects we're seeing today), but every single industry went through a downturn. Even then, the real estate blip was relatively minor.
    Originally posted by SEANBANERJEE
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    Yes prices might not go down much but I'm for sure not buying in todays market.

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    Originally posted by rage2
    The economic climate was worse in 2009/2010. Not only did oil prices tank (driving the same effects we're seeing today), but every single industry went through a downturn. Even then, the real estate blip was relatively minor.
    Yes- the point is pretty much the message you always push..... don't get too excited cuz nothing drastic is going to happen.

    This time around its pretty much isolated to Alberta; US is turning around, weak dollar helps a lot of provinces bolster exports. No leighman bros waiting to happen.

    If you don't know this happens every so often in Alberta then you're probably one of the over levered assholes that everyone hopes and expects gets pushed out in times like these.

    My remarks above still stand though.... things will get worse before they get better for some.
    Last edited by rizfarmer; 01-26-2015 at 11:46 AM.
    Originally posted by ExtraSlow
    Also, if he donkey kicks, you donkey punch!

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    rage has an overleveraged asshole.

  18. #38
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    Originally posted by rage2
    The economic climate was worse in 2009/2010. Not only did oil prices tank (driving the same effects we're seeing today), but every single industry went through a downturn. Even then, the real estate blip was relatively minor.
    People are viewing real estate as a short term investment.
    Originally posted by Modelexis
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    That's what I don't understand. If the market is bad and the real estate prices have fallen, why would it not be a good time to buy a condo or something as a long term investment? You get a decent price, hold on to it for a while as it's rented out and then flip when the market is back up?

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    Originally posted by shakalaka
    That's what I don't understand. If the market is bad and the real estate prices have fallen, why would it not be a good time to buy a condo or something as a long term investment? You get a decent price, hold on to it for a while as it's rented out and then flip when the market is back up?
    Because contrary to popular believe prices HAVENT gone down.

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