Calgary real estate prospects

[89coupe]

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That’s a huge loss from original list

A huge loss? What do you think it cost them to build that place?

[jutes]

Those property taxes.

Is it close enough to the highway to fire golf balls into traffic from the front lawn?

[TomcoPDR]

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A huge loss? What do you think it cost them to build that place?

$1.5?

[bjstare]

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$1.5?

Unless they hugely sacrificed on quality, it was definitely more than that. There’s a lot of house there.

[killramos]

Isn’t the asking price ~$200/sqft?

Someone is losing their shirt on this.

[bjstare]

Ya it’s kinda weird. You’d think someone bright enough to earn enough money to build a multi-million dollar house would also be smart enough to check development plans for the surrounding area. I suppose not.

Edit: asking is closer to $400/sqft. Comment still applies though. It’s also a huge plot of land, 10ac inside city limits is substantial.

[killramos]

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Ya it’s kinda weird. You’d think someone bright enough to earn enough money to build a multi-million dollar house would also be smart enough to check development plans for the surrounding area. I suppose not.

Edit: asking is closer to $400/sqft. Comment still applies though. It’s also a huge plot of land, 10ac inside city limits is substantial.

Asking is $3.5MM, didnt that article say 16,000 sqft? My Marth is under 220/sqft there.

Ring road would suck but that is a lot of house for the money. Is the location that bad? I never get that far out.

[jutes]

Johnny Hockey selling his crib?

https://www.realtor.ca/real-estate/2...nue-sw-calgary

Complete with full sized barn hockey rink. Rent that sucker out to minor league teams. Not a fan of the grid road.

[npham]

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Asking is $3.5MM, didnt that article say 16,000 sqft? My Marth is under 220/sqft there.

Floor Space/Total Finished Area
8688.18 sqft

[bjstare]

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Asking is $3.5MM, didnt that article say 16,000 sqft? My Marth is under 220/sqft there.

Ring road would suck but that is a lot of house for the money. Is the location that bad? I never get that far out.

npham covered it. Plus the article claim of 16k sqft is simply wrong/exaggerated, no matter how you calculate.

Ring road notwithstanding, the location is pretty good, except it's on the wrong side of the city limits. When buying an acreage, one of the benefits is being part of MD rockyview tax base instead of CoC - it's a 30-50% discount on taxes ($/sqft). This is basically the worst of all worlds. Acreage size lot to take care of, close proximity to tons of traffic/noise, and high taxes. Basically the only positive is the location - it's a huge amount of lot/house in very close proximity to city amenities.


Is it just me, or did they just sawzall the legs of the built in desk out to remove it from the office?

[killramos]

Gotcha

I don’t think it’s necessarily misvalued at $3.5MM is all. And I think current owner is likely taking a bath.

[Strider]

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the article claim of 16k sqft is simply wrong/exaggerated, no matter how you calculate

Realtor 101 "developed square footage" or "living area" including basement and who knows what else vs MLS "floor space" which is above grade and excludes wall thickness, etc. The ad itself says 14,600 sq ft of developed space.
There's no standard as far as I know for which number makes up the denominator in the $/sq ft calc for either sale price or build price.

[killramos]

Beyond: I want a fancy oversized finished garage with room for 13 cars with all the toys lifts and poly flooring and an awesome basement media room 8k HDR 12 speaker Atmos home theatre setup with a hot tub and a pool.

Also beyond: hurr durr realtors are slimy bastards for including full developed living space in the ad

Sorry but all that makes me chuckle.

To me the full developed space is more useful for estimating build cost than a gerrymandered above ground not including walls or garage or patio etc. etc. just my opinion.

[benyl]

Likely bought the land and some tear down for $1.2M in 2006. It would be hard to build that for $2M, even in 2006.

Taxes:

[89coupe]

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Likely bought the land and some tear down for $1.2M in 2006. It would be hard to build that for $2M, even in 2006.

Taxes:

It sold for $550k in 2002 and the new place was built in 2007

It looks like cheap bottom end builder basics.

The owners are most likely the builders as well, I bet they built that place for less than $150/sqft.

[Buster]

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It sold for $550k in 2002 and the new place was built in 2007

It looks like cheap bottom end builder basics.

The owners are most likely the builders as well, I bet they built that place for less than $150/sqft.

Which parts are builder grade? Genuinely curious.

[bjstare]

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It sold for $550k in 2002 and the new place was built in 2007

It looks like cheap bottom end builder basics.

The owners are most likely the builders as well, I bet they built that place for less than $150/sqft.

Jfc, if that's true I'd hate to be the person owning this house in 10 years when it starts to fall apart.

[89coupe]

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Which parts are builder grade? Genuinely curious.

I just noticed it’s a bank sale, sold as is.

All the finishing materials are builders basics, the lighting, the plumbing fixtures, the tile, the cabinets, the appliances, all cheap cheap cheap.

Same crap you see in 90% of the infills.

[suntan]

Fucking builder basic built-in fridge.

[cam_wmh]

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Johnny Hockey selling his crib?

https://www.realtor.ca/real-estate/2...nue-sw-calgary

Complete with full sized barn hockey rink. Rent that sucker out to minor league teams. Not a fan of the grid road.

Johnny lived in Le Germaine.

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Nothing says luxury like a gravel driveway.

Should've spent $500k on sheltered, tall treed, landscaping, and a proper driveway, and held at $5m.

EDIT - perhaps not, understanding that they've cheaped out everywhere else.