Calgary real estate prospects

[jwslam]

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

Any regrets listing it at that price then? Why not list it a bit higher? Or you prefer bidding war? Genuinely curious.

Realtor and I did our own separate research. Agreed to the same price. Didn't expect that much heat to be honest.

I'll miss the place for sure but lifestyle changes means there's low chance I'd ever live there again. No regrets on listing, I'm not interested in being more of a landlord than I already am.
Besides, I'm not able to rent the place to cover my monthly fixed costs

If I were truly thinking bidding war I'd have listed lower.

I bought in the peak of 2014 and if all goes well I'd walk out break even.

[suntan]

That was a rental? Good for you for getting rid of it.

BIL sold his rental unit a few weeks ago. The bottom suite was empty for over a year and the top suite tenant left in January. He was hurting big time from it.

[killramos]

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

I wish I could short my house.

Is that basically what selling your house to someone with a really long possession date is?

[ExtraSlow]

swelling rentals right now seems very very smart. Even at a small loss.

[suntan]

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

swelling rentals right now seems very very smart. Even at a small loss.

Pretty much, people with even new units are struggling to get tenants, even though tenants are leaving shitholes like crazy.

[ercchry]

If Ontario could stop bidding homes up over 60% over list, that would be greaaaattt... my emails are so much longer than they use to be

[jwslam]

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

That was a rental? Good for you for getting rid of it.

BIL sold his rental unit a few weeks ago. The bottom suite was empty for over a year and the top suite tenant left in January. He was hurting big time from it.

Was primary. Bought new primary.
No interest in converting old primary into rental.

All the other landlords I've been talking to are getting tonnes of interest.
Tire kickers though. Like 1/15 of showings come back with applications.

[suntan]

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

Was primary. Bought new primary.
No interest in converting old primary into rental.

All the other landlords I've been talking to are getting tonnes of interest.
Tire kickers though. Like 1/15 of showings come back with applications.

Yeah lots of people want to move somewhere nicer now that there's a huge supply glut.

BIL's duplex was a total piece of shit. God that thing was soul sucking inside.

[Power_Of_Rotary]

Bidding wars is happening in Calgary already. You guys might be selling too soon. Dont hodl during the hell and sell before you can profit lol.

[Disoblige]

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

Bidding wars is happening in Calgary already. You guys might be selling too soon. Dont hodl during the hell and sell before you can profit lol.

That is a good point. No different than stocks. People bagholding for years and then sell at the first opportunity.

I am gonna wait until 2023 if I can at least.

[pheoxs]

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

Bidding wars is happening in Calgary already. You guys might be selling too soon. Dont hodl during the hell and sell before you can profit lol.

If you look at the year over year stats things look pretty crazy. Detached sales for April are up 300% over 2020 but then you also have to remember this was the height of the scary part of the pandemic last year so sales dropped to almost nothing.

I'm curious how much that skew of statistics because of last years low numbers will affect the momentum of the market. Hearing sales up 300% over last year sounds insane but saying sales are up 42% over 2019 is less exciting.

[ercchry]

Depends what you’re doing I guess.... gotta get that 3000sqft aspen house when it’s still on sale

[Power_Of_Rotary]

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

If you look at the year over year stats things look pretty crazy. Detached sales for April are up 300% over 2020 but then you also have to remember this was the height of the scary part of the pandemic last year so sales dropped to almost nothing.

I'm curious how much that skew of statistics because of last years low numbers will affect the momentum of the market. Hearing sales up 300% over last year sounds insane but saying sales are up 42% over 2019 is less exciting.

I think this is just the start. With bidding wars with CASH purchases above asking. And this is happening all around the globe (not just Vancouver/Toronto).

I started this thread in view of long term/future. Seems like future hit much faster than anticipated lol. Fuck. Im priced out again

[Buster]

Half the country thinks the housing industry should be core to the country's economy and the UP UP UP is healthy. The other half thinks they are "priced out".

comedy

[Power_Of_Rotary]

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

Half the country thinks the housing industry should be core to the country's economy and the UP UP UP is healthy. The other half thinks they are "priced out".

comedy

Thinks? bro, lol.

[Buster]

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

Thinks? bro, lol.

I feel for you. Houses are an expense - and creating a situation with rising expenses is hardly good for people.

[Power_Of_Rotary]

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

I feel for you. Houses are an expense - and creating a situation with rising expenses is hardly good for people.

Im just saying priced out of market is a fact and not a "thought" lol. Its a fact that home ownership has gotten a lot tougher due to pricing (increased), salary (flat, decreased, jobloss etc), Mortgage qualification difficulties (increased), etc.

Bro, you seem to be living in a bubble or high on something good.

[killramos]

There are still lots of inexpensive homes for sale in Calgary if you are “priced out”.

You just need to let go of the ego wrt what kind of place and location you deserve

[Disoblige]

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

There are still lots of inexpensive homes for sale in Calgary if you are “priced out”.

You just need to let go of the ego wrt what kind of place and location you deserve

Or be truthful to yourself Aspen was never in the running all along

[bjstare]

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

There are still lots of inexpensive homes for sale in Calgary if you are “priced out”.

You just need to let go of the ego wrt what kind of place and location you deserve

Or just... make more money.