Calgary real estate prospects

[max_boost]

Ahh it’s just money. Ez come ez go. Ain’t no thing. Everyone needs to hodl something.

[flipstah]

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Ahh it’s just money. Ez come ez go. Ain’t no thing. Everyone needs to hodl something.

Only ballers say that.

[Rocket1k78]

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HUGE buyers remorse coming out of Ontario as prices starting to drop....will it trickle into Alberta? More at 11!

Yeah im hearing this too, saw some threads on reddit of people asking the repercussions of just walking away and forfeiting the deposit lol
If you talk to an agent no we will never see that and the markets still crazy but i got a wicked magic 8 ball and its saying our prices are already dropping and will continue but we wont see the losses like to or van, shook it again and its saying 10-15% by end of year.

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Those who are able to cash out and rebuy at 1-200k less, major props lol

My good buddy just took this gamble and literally sold his house at the absolute peak, theyre all living with fam now and will probably buy later this year. I took a major gamble too with buying a house the week they closed the schools in 2020, best bet ever lol

[Xtrema]

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My good buddy just took this gamble and literally sold his house at the absolute peak, theyre all living with fam now and will probably buy later this year. I took a major gamble too with buying a house the week they closed the schools in 2020, best bet ever lol

So if market in Calgary doesn't adjust down (I don't think it will, not this year anyway), he just have to live with fam indefinitely?

[SJW]

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So if market in Calgary doesn't adjust down (I don't think it will, not this year anyway), he just have to live with fam indefinitely?

That's pretty neat.

[Xtrema]

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That's pretty neat.

Oh people who thing they can time/predict the market. Cousin played that game in HK in the 2000s and ended up to be around $500K CAD poorer.

[ExtraSlow]

Gambling with your family housing is always smart.

[suntan]

Ontarians deserve to suffer.

[Rocket1k78]

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So if market in Calgary doesn't adjust down (I don't think it will, not this year anyway), he just have to live with fam indefinitely?

I cant speak for all areas but the nw burbs where he lived and will be buying have definitely adjusted down and will continue im sure.

[88CRX]

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Those who are able to cash out and rebuy at 1-200k less, major props lol

Buy the dip!

[suntan]

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Buy the dip!

Thanks, bought 10.

[killramos]

It’s funny when you think you are winning the real estate game but dilutives are eating your lunch.

[msommers]

Finally sold our condo, almost seems like we should have asked more for it given the interest and number of offers that came in. We personally had a couple of offers fall through because of financing issues. Why home owners can't keep a deposit if the buyer fails on their end to complete the transaction doesn't make sense to me - it's basically a week or two window for the buyer drag their heels with no penalty meanwhile the place is basically off the market while that is all happening.

A neighbour of some friends of ours had their house up for a while and had five offers fall through because of financing.

Seems like all the Ontario investors have bought what they want and average Joes getting priced out.

[Buster]

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Finally sold our condo, almost seems like we should have asked more for it given the interest and number of offers that came in. We personally had a couple of offers fall through because of financing issues. Why home owners can't keep a deposit if the buyer fails on their end to complete the transaction doesn't make sense to me - it's basically a week or two window for the buyer drag their heels with no penalty meanwhile the place is basically off the market while that is all happening.

A neighbour of some friends of ours had their house up for a while and had five offers fall through because of financing.

Seems like all the Ontario investors have bought what they want and average Joes getting priced out.

did you put non-refundable deposit in the offer?

[suntan]

There is almost always a condition on successful financing.

[Buster]

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There is almost always a condition on successful financing.

to complete the deal. but if you want a deposit that is non-refundable, I presume you can write the clearly in the paperwork?

[suntan]

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to complete the deal. but if you want a deposit that is non-refundable, I presume you can write the clearly in the paperwork?

You don't have to take the home off the market just because someone put in a deposit. You can even accept another offer and return the deposit.

[89coupe]

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Those who thought it was smart to upgrade during a bubble, RIP.

You actually think prices will drop this fall or next year ?

I’m talking Calgary only.

[89coupe]

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You don't have to take the home off the market just because someone put in a deposit. You can even accept another offer and return the deposit.

That’s a little grey the way you are saying that.

If a seller accepts a conditional offer, the buyer always has the option not to remove conditions and walk away with their deposit.

During the time that conditions are in place, the seller can accept back-up offers but cannot back out of the first offer unless the first offer either sends a non-waiver and kills the deal or if the condition/s date passes without waivers being removed.

[killramos]

I mean. You are welcome to accept an offer with a big deposit and no conditions over another offer with a conditional deposit.

Your preference in the matter is something you should communicate to your realtor and your realtor communicate to buyers where it makes sense.

When I sold my place I didn’t even consider the conditional offers as we had multiple with no conditions.