Calgary real estate prospects

[Twin_Cam_Turbo]

I am going to let it start at this price but if there’s no interest by next weekend I will lower it.

[ercchry]

His approach seems logical, green space is attractive to buyers.

[Buster]

I think we might (if we haven't yet) start to see a slowdown of the frenzy.

[you&me]

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I think we might (if we haven't yet) start to see a slowdown of the frenzy.

I hear about this frenzy, but don't see any evidence of it around us. I see the same listings on Realtor.ca for months on end and can't recall seeing anything come and go quickly... Though for some reason, no one seems to have lawn signs, so it makes it a little harder to casually observe.

[killramos]

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I think we might (if we haven't yet) start to see a slowdown of the frenzy.

[suntan]

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I hear about this frenzy, but don't see any evidence of it around us. I see the same listings on Realtor.ca for months on end and can't recall seeing anything come and go quickly... Though for some reason, no one seems to have lawn signs, so it makes it a little harder to casually observe.

It's a "frenzy" only because winter was soooo slow.

[ercchry]

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I think we might (if we haven't yet) start to see a slowdown of the frenzy.

Here? I wouldn’t call this a frenzy... Ontario? I hope so, but also probably not. Corps still haven’t put in long term hybrid/remote policies... if those trickle out and weigh heavily to remote going forward this could be just the start. Some areas have gone nuts, but there is still some that haven’t hit peak frenzy yet

If the above happens, I could see an uptick here... rising tides, etc

[pheoxs]

Depending on the view / greenspace it can definitely affect the price enough to make a difference. There may be buyers that are fine paying the price but waiting for a better view, I don't think it hurts to list at the same and then drop after a couple weeks because what happens if you list at 239 and the other condo drops their price to 239. Same boat but less $ now.

[Twin_Cam_Turbo]

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Depending on the view / greenspace it can definitely affect the price enough to make a difference. There may be buyers that are fine paying the price but waiting for a better view, I don't think it hurts to list at the same and then drop after a couple weeks because what happens if you list at 239 and the other condo drops their price to 239. Same boat but less $ now.

The yard/green space of mine compared to his us about 4x the depth.

[Disoblige]

The chance of anyone buying over list of your condo is slim to none.
The chance of someone putting in an offer lower than your list is probable, but the key thing is that they don't know you're willing to accept that. Don't show all your cards.

It's easy enough to lower the price a week after if you aren't getting the interest you're expecting.

And the fact that you're already listing it the same price as the other unit but with more perks to it is already a great value. Technically you would be listing higher!
Just gotta make sure the realtor you're using is making sure people know that value through the listing.

[Power_Of_Rotary]

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The chance of anyone buying over list of your condo is slim to none.
The chance of someone putting in an offer lower than your list is probable, but the key thing is that they don't know you're willing to accept that. Don't show all your cards.

It's easy enough to lower the price a week after if you aren't getting the interest you're expecting.

And the fact that you're already listing it the same price as the other unit but with more perks to it is already a great value. Technically you would be listing higher!
Just gotta make sure the realtor you're using is making sure people know that value through the listing.

If the price is right, anything will sell. People complain about days on the market have clearly never traded stocks. Id buy a condo if its cheap enough to justify decent ROI.

[Disoblige]

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If the price is right, anything will sell. People complain about days on the market have clearly never traded stocks. Id buy a condo if its cheap enough to justify decent ROI.

I get what you are trying to say but it may mean your "right price" is different than the market conditions, which is good for the seller. You just happen to be the right buyer. DOM does mean something unless you meet the ideal buyer by chance.

Comparing stocks and real estate is like comparing a zucchini with a fruit salad. Both are food, so???

[killramos]

Buying condos like stocks, looking for ROI.

WCGW

[Disoblige]

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Buying condos like stocks, looking for ROI.

WCGW

Keep averaging down and eventually buy the whole building.

[killramos]

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Keep averaging down and eventually buy the whole building.

Stonks always go up right?

MOAR LEVERAGE

[Power_Of_Rotary]

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I get what you are trying to say but it may mean your "right price" is different than the market conditions, which is good for the seller. You just happen to be the right buyer. DOM does mean something unless you meet the ideal buyer by chance.

Comparing stocks and real estate is like comparing a zucchini with a fruit salad. Both are food, so???

Not saying stocks and RE is the same. I am just referring to how things are sold based on market demand and what people are willing to pay. Basic supply and demand, regardless of the type of asset. Condos in vancouver/toronto are doing fine, disregarding the underlying reasons.

The "right" price is determined by the market. Im certain if you list your condo for 30% below average it will sell. Of course, you dont want to take that loss. Alas, buyers want a bargain and sellers want a profit.

[Buster]

Real estate is my favorite asset class

[JohnnyHockey13]

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Not saying stocks and RE is the same. I am just referring to how things are sold based on market demand and what people are willing to pay. Basic supply and demand, regardless of the type of asset. Condos in vancouver/toronto are doing fine, disregarding the underlying reasons.

The "right" price is determined by the market. Im certain if you list your condo for 30% below average it will sell. Of course, you dont want to take that loss. Alas, buyers want a bargain and sellers want a profit.

Reminds me of those Len T Wong commercials, I think Justin Havre does it too...."If your house doesn't sell in 30 days, we MAY buy it" ROFL...ya sure, at your stupid lowball "guaranteed" price.

[Power_Of_Rotary]

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Reminds me of those Len T Wong commercials, I think Justin Havre does it too...."If your house doesn't sell in 30 days, we MAY buy it" ROFL...ya sure, at your stupid lowball "guaranteed" price.

Lol it aint wrong. When everyone (especially on beyond) is hating and dreading their condos, its a shocker that it is difficult to sell when asking price does not reflect the reality. Shocker.

The same is principal is applied when market is crazy hot. Sellers will only bother entertaining highest overbid buyers. Even bids at ASKING price is considered lowball in Vancouver.

[Neil4Speed]

I decided to hold onto my Loft in the end and get a renter. I was amazed at the interest of 'quality' renters who applied, and in the end got someone who is coming in on a 14 fellowship which is perfect. It's not cashflow positive, but covering all of my costs and putting some money towards the principal.

I can't think of a worst time fundamentally to sell a condo right now, people are looking for more space, limited 'young professional' opportunities, and what's the point in living downtown if there is no nightlife and you are not going to the office.