Calgary real estate prospects

[mr2mike]

Newer, small infill by my place sold. Ask was $989k. Highest I've seen yet in the area for these split lot infills.

[ExtraSlow]

Think my place would be 989? Shit I should sell.

[Twin_Cam_Turbo]

There’s a Duplex infill near me that was listed at $1.2 million, don’t think it’s sold yet.

[mr2mike]

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Think my place would be 989? Shit I should sell.

You got new flooring in the basement?
For sure!

[ExtraSlow]

Frankly this place with all new floors and a complete repaint would look amazing. But after how much I paid a reputable professional beyond painter to do a partial paint last time, I assume the whole place would be $25k. Floors probably nearly as much. Seems like a lot of money.
@jordan _lotoski want to just swap my place for the Prestwick one? Throw in a ride-along in your sick whip...

[mr2mike]

My thoughts on why the government hasn't stepped in to cool this real estate market is that they want speculative buying. They want flippers because they get tax on every short transaction.
Real estate is something like Canada's 3rd largest industry. Hilarious you can prop a country up on that.

[Xtrema]

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Real estate is something like Canada's 3rd largest industry. Hilarious you can prop a country up on that.

Learning from China. 30% GDP is people buying 2nd and 3rd houses.

[Buster]

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My thoughts on why the government hasn't stepped in to cool this real estate market is that they want speculative buying. They want flippers because they get tax on every short transaction.
Real estate is something like Canada's 3rd largest industry. Hilarious you can prop a country up on that.

IT can't. It all comes down eventually.

[mr2mike]

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Learning from China. 30% GDP is people buying 2nd and 3rd houses.

Didn't China then change the rules so then couples were getting divorced on paper so they had 2 primary residences and avoiding the tax?
Or is that another country like Japan? I forget but definitely an Asian country.

[prae]

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Think my place would be 989? Shit I should sell.

sure sign of an imbalanced market. I have a friend that is contemplating selling one of his houses and quote "living in his trailer parked at his in-laws house". With two kids under four. LOL

[ExtraSlow]

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sure sign of an imbalanced market. I have a friend that is contemplating selling one of his houses and quote "living in his trailer parked at his in-laws house". With two kids under four. LOL

If you could legit pull out an extra 200k from your house, it's a good idea. But if you just roll that into another similarly inflated house, then you are losing.

[Xtrema]

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Didn't China then change the rules so then couples were getting divorced on paper so they had 2 primary residences and avoiding the tax?
Or is that another country like Japan? I forget but definitely an Asian country.

Yup. Certain cities that's way too hot did start to crack down. But 2nd tier is still fair game.

And that's with mortgages at 50-70% minimum downs.

[schurchill39]

Friends of ours listed their house last year at this time for mid 500's and it was on the market for 2 months with only a couple of showings (COVID definitely played a role in this I am sure). This year they listed for "significantly more" (my guess is they were just above $600k but still need to verify that) and it was sold in under 48 hours for asking price. They listed last Thursday and had 11 showings between Friday and Saturday morning then Saturday afternoon the second showing gave them the first of 3 offers.

Next year we want to move out to Okotoks when our oldest is closer to kindergarten age but with stories like this it really makes us wonder if we should be looking at doing it this year.

EDIT: The house they sold was in Cranston.

[riander5]

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Newer, small infill by my place sold. Ask was $989k. Highest I've seen yet in the area for these split lot infills.

Where bro where

[Tik-Tok]

I think my neighbor is getting ready to sell to take advantage of these prices. I've never been closer to buying another house. 10,000sq.ft pie lot.

[you&me]

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I think my neighbor is getting ready to sell to take advantage of these prices. I've never been closer to buying another house. 10,000sq.ft pie lot.

Dewit. More space is better.

[Tik-Tok]

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Dewit. More space is better.

The house is shit though. It would make an awesome infill but I can't afford that.

[ExtraSlow]

Always a good time to buy.

[bjstare]

Always a good time to sell.

[Tik-Tok]

Always a good time to hodl.