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Thread: Calgary real estate prospects

  1. #461
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    People think they "deserve" a certain number of square feet, and granite countertops, in a certain area of town. It's weird.
    Let's all work on positivity this week.

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    Quote Originally Posted by ercchry View Post
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    Depends what you’re doing I guess.... gotta get that 3000sqft aspen house when it’s still on sale
    3000sqft? You live in the carriage house with the help?

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    Quote Originally Posted by killramos View Post
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    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
    Calgary is just starting to pick up again. Im speaking globally. Look at vancouver/hk/toronto? Average piece of shit place in these cities costs millions lol.
    Originally posted by beyond_ban
    Yo Kanye, ima let you finish, but 50 Cent had the best concert cancellation of all time.

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    Quote Originally Posted by jwslam View Post
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    3000sqft? You live in the carriage house with the help?
    Bungalow... walkout, living tall is for the poors

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    Quote Originally Posted by ercchry View Post
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    Bungalow... walkout, living tall is for the poors
    Can confirm
    Let's all work on positivity this week.

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    Quote Originally Posted by Power_Of_Rotary View Post
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    Calgary is just starting to pick up again. Im speaking globally. Look at vancouver/hk/toronto? Average piece of shit place in these cities costs millions lol.
    Sounds like you aren’t in the market for those places then.

    I was looking at beach houses in Malibu the other day. Outrageous prices. So unaffordable.

    Or maybe I’m just not the target buyer? Nahhh must be the evil monetary rat bastards keeping me down.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

  7. #467
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    Quote Originally Posted by killramos View Post
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    Sounds like you aren’t in the market for those places then.

    I was looking at beach houses in Malibu the other day. Outrageous prices. So unaffordable.

    Or maybe I’m just not the target buyer? Nahhh must be the evil monetary rat bastards keeping me down.
    Lol k
    Originally posted by beyond_ban
    Yo Kanye, ima let you finish, but 50 Cent had the best concert cancellation of all time.

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    Quote Originally Posted by ExtraSlow View Post
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    Condo market in Calgary, aside from a few niche places, will drag for years. Need employment growth to change that, and I think you are looking 5-10 years out for that. Can't see another driver.
    If you are cash flow negative, or just breaking even, maybe just sell and buy an ETF with the money.
    Im cash flow negative on a few units at this point, but my thought process is this - it would cost me say 100k over 18-20 years out of my own pocket, to have 700-800k in assets. Maybe its a stupid way of looking at things, but its just diversifying my investments.

    Now if I could go back and never buy them would I do that? God damn right I wouldn't

    - - - Updated - - -

    Quote Originally Posted by jwslam View Post
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    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.
    Just rented out my one condo which is definitely on the more expensive end of the $/sqft but has a huge balcony. Took me 30 showings to find someone. Half of the idiots never looked at the floorplan or pictures and when they got there realized is was nothing like what they wanted.

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    Quote Originally Posted by Power_Of_Rotary View Post
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    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.
    Problem is I still need to live somewhere, so then I'm on the other side having to murder potential buyers.

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    Quote Originally Posted by ExtraSlow View Post
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    People think they "deserve" a certain number of square feet, and granite countertops, in a certain area of town. It's weird.
    This. It's not really weird though. People want to feel rich. There's a ridiculous number of mini-Mcmansions on the newer outer edges of the city. Combine that with the degenerate "investing" tendencies/lack of financial literacy of the unwashed masses along with nearly free cost of borrowing and you get prices bid up very quickly.

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    Quote Originally Posted by Manhattan View Post
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    This. It's not really weird though. People want to feel rich. There's a ridiculous number of mini-Mcmansions on the newer outer edges of the city. Combine that with the degenerate "investing" tendencies/lack of financial literacy of the unwashed masses along with nearly free cost of borrowing and you get prices bid up very quickly.
    The big houses only belong in Mount Royal.

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    Quote Originally Posted by suntan View Post
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    The big houses only belong in Mount Royal.
    You mean Montreal
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
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    Quote Originally Posted by killramos View Post
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    You mean Montreal
    Having RE prices linked to easily bribed port officials is a way more stable way to maintain prices than linking it to O&G

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    Stability is very important.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

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    Quote Originally Posted by Power_Of_Rotary View Post
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    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.
    I'm just saying that high RE prices are bad for the citizenry, not good.

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    Are things slowing a bit?

    Detached Sales in March were 1,866 houses. April is 432 so far ... prorated that is on pace for ~1,650 this month which is less than last.

    Detached new listings in March were 2,612 houses. April so far is 719 so far .... prorated that is on pace for 2,700 a slight increase

    Though days on market has dropped to 22 days from 29 in March so maybe good deals are moving fast but more people are getting greedy and asking too high?
    Nolan

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    Quote Originally Posted by suntan View Post
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    Problem is I still need to live somewhere, so then I'm on the other side having to murder potential buyers.
    Rent. Then buy in two years.

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    Quote Originally Posted by Tik-Tok View Post
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    Rent. Then buy in two years.
    At peak bubble.

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    I dont get lucky often but with my houses its been great. I bought my first 2 houses pre boom which i still own/rent, bought my last house in 09 after the crash, bought my new house last year mid covid and then i wasnt sure what to do with the house i lived in because the market was so shitty so i carried it and did some renos. Hoping to list within a week so im hoping i get some of this bidding war, its only worth 500 so it should be in the ideal price range i hope.

    - - - Updated - - -

    Quote Originally Posted by killramos View Post
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    Sounds like you aren’t in the market for those places then.
    Sounds about right lol I think this was the same guy that popped in the acreage thread saying he was triggered because i was saying 2 acres wasnt as big as you'd think
    Quote Originally Posted by Mitsu3000gt View Post
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    and I did not have the only say in the matter (most people just want it done ASAP and don't care about quality).
    Quote Originally Posted by Mitsu3000gt View Post
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    If anything we made a better decision because we had a consensus and were all on the same page.

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    Quote Originally Posted by Rocket1k78 View Post
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    I dont get lucky often but with my houses its been great. I bought my first 2 houses pre boom which i still own/rent, bought my last house in 09 after the crash, bought my new house last year mid covid and then i wasnt sure what to do with the house i lived in because the market was so shitty so i carried it and did some renos. Hoping to list within a week so im hoping i get some of this bidding war, its only worth 500 so it should be in the ideal price range i hope.

    - - - Updated - - -



    Sounds about right lol I think this was the same guy that popped in the acreage thread saying he was triggered because i was saying 2 acres wasnt as big as you'd think
    Spoiled Canadians with their lot sizes and million dollar shitholes. They should take a page out of Asia’s book!
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

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