Calgary real estate prospects

[msommers]

Exactly, skip the realtor all together. See if the market really cares about them right now and save yourself thousands

[BavarianBeast]

Robert Price will help ya out @ Bode Canada

[Rocket1k78]

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If the market is so hot, just jack up the price to offset the commission.

Or better yet, sell it yourself? If the market is hot, the only problem is taking care of the paperwork yourself. Save yourself a good chunk of cash.

Its hot as long as your priced relatively fair, you gotta keep in mind these arent high priced homes so that extra 20-30k is a huge amount to tack onto a home that already is a bit over priced because of this frenzy.

You could also sell yourself im sure but my neighbor was a realtor 10 years ago and they still used a company called Purple brick to sell their current house so its probably not as easy as it sounds or she was a shitty realtor or combo of both lol

[ercchry]

Reviewing Ontario properties (outside of GTA) right now that are coming in as high as 60% over list... wild times

[Buster]

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Reviewing Ontario properties (outside of GTA) right now that are coming in as high as 60% over list... wild times

It's basically the residential RE version of a short squeeze, isn't it?

People can't sell their homes to upgrade - too expensive, so supply is constrained. Then when something comes on the market it rockets due to s/d dynamics, and the cycle repeats. At least that is how I see it?

[ercchry]

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It's basically the residential RE version of a short squeeze, isn't it?

People can't sell their homes to upgrade - too expensive, so supply is constrained. Then when something comes on the market it rockets due to s/d dynamics, and the cycle repeats. At least that is how I see it?

Yup, basically

Ontario is pretty notorious at this point in intentionally listing low, creating an auction type environment, driving up offers. Made possible due to the lack of inventory vs buyers.

But with what I’m seeing on the income side of things, I’m thinking this time it is due to a lot of people being trapped in their current homes due to not being able to qualify for a new loan, so less sales vs a large buying pool, which makes this current RE market even more alarming than our classic Van/TO bubbles.

I don’t think the WFH, GTA exodus is large enough to really cause this sort of action alone. It’s province wide, just getting crazy

[arcticcat522]

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Yup, basically

Ontario is pretty notorious at this point in intentionally listing low, creating an auction type environment, driving up offers. Made possible due to the lack of inventory vs buyers.

But with what I’m seeing on the income side of things, I’m thinking this time it is due to a lot of people being trapped in their current homes due to not being able to qualify for a new loan, so less sales vs a large buying pool, which makes this current RE market even more alarming than our classic Van/TO bubbles.

I don’t think the WFH, GTA exodus is large enough to really cause this sort of action alone. It’s province wide, just getting crazy

So, is now the time to sell all the rentals. Buy back after the bubble bursts? In ON. Look into the crystal ball for me

[ercchry]

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So, is now the time to sell all the rentals. Buy back after the bubble bursts? In ON. Look into the crystal ball for me

Money is cheap; if RE pops the whole country is fucked, might as well be leveraged to the tits on the way out... at least that was the theme of the deals I saw today

Industry professional... just picked up about $3m in rentals out there

[Buster]

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Money is cheap; if RE pops the whole country is fucked, might as well be leveraged to the tits on the way out... at least that was the theme of the deals I saw today

Industry professional... just picked up about $3m in rentals out there

[ExtraSlow]

So slumlords should sell out? Or. Double. Down?

[Buster]

Being long RE right now is basically being long gov't bailouts of the RE market.

[ExtraSlow]

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Being long RE right now is basically being long gov't bailouts of the RE market.

so schrewd. Gotcha.

[pheoxs]

I dont think Calgary RE will crash tbh. House prices have been more or less stagnant for ~6 years so a bump up in price even if its 5-10% isn't really much of a change. Van/Tor is fucked though given they've constantly just gone up and up with no rational. Unfortunately the BoC will likely dictate policy to look after those markets rather than rest of Canada.

[BavarianBeast]

How many showings/day is a good number in this market? We decided to price high (listed Friday)
) and have had 5 showings/requests so far. Don’t know if that’s hot or not. I guess all that matters is a good offer!

[JohnnyHockey13]

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How many showings/day is a good number in this market? We decided to price high (listed Friday)
) and have had 5 showings/requests so far. Don’t know if that’s hot or not. I guess all that matters is a good offer!

We're going on the market as early as a week from now. Our block has 1 that's been selling for months, and our other neighbor just posted Friday, posted higher than the one on our block. They're still showing the house today....I think we're gonna price ours low just to get a lineup going and a bidding war. Opposite strategy of what they're doing...

We're in the <$500K market though, cheapest double front drive homes available and 4.5 yrs old, so should get lots of response, knock on wood.

[Buster]

Something is weird right now...sometimes houses in our neck of the woods have taken a year to sell. One just sold in two weeks at 95% asking, where I thought the asking was way too high.

[Power_Of_Rotary]

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I dont think Calgary RE will crash tbh. House prices have been more or less stagnant for ~6 years so a bump up in price even if its 5-10% isn't really much of a change. Van/Tor is fucked though given they've constantly just gone up and up with no rational. Unfortunately the BoC will likely dictate policy to look after those markets rather than rest of Canada.

Van/Tor is "fucked" if you are on the prospective buyer's side. Seems pretty fucking nice to be holding a few properties if its bought back in 2014 or earlier...

The opportunity cost and profit different if you bought in calgary vs vancouver/toronto in 2014 is huge

[Buster]

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Van/Tor is "fucked" if you are on the prospective buyer's side. Seems pretty fucking nice to be holding a few properties if its bought back in 2014 or earlier...

The opportunity cost and profit different if you bought in calgary vs vancouver/toronto in 2014 is huge

shoulda bought bitcoin

[ExtraSlow]

Back-testing your investment decisions is not a healthy hobby

[vengie]

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How many showings/day is a good number in this market? We decided to price high (listed Friday)
) and have had 5 showings/requests so far. Don’t know if that’s hot or not. I guess all that matters is a good offer!

I'd say 5 showings on your place so far is great, especially given the price bracket.