Calgary real estate prospects

[Rocket1k78]

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I'm half considering trying to list our place with a quick-close and rent back agreement for the 6-8 months we'll need to stay here.

That sounds kinda messy and you'd be limiting your buyer pool by a massive amount.

[ExtraSlow]

Sell and yolo bro.

[Tik-Tok]

Will reverse mortgages pay more than asking price?

[Twin_Cam_Turbo]

Is the market stabilizing or nah. I’m finding it hard to tell if places are priced well or not, at least one the realtor has told us he feels a place is wildly overpriced and it’s not even worth viewing.

[Darkane]

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Is the market stabilizing or nah. I’m finding it hard to tell if places are priced well or not, at least one the realtor has told us he feels a place is wildly overpriced and it’s not even worth viewing.

Still overpriced. Lots of people are just dipping their toes in the pool. It’s very frustrating how many people don’t actually want to sell.

[killramos]

It’s only overpriced if it’s more expensive than it’s worth to you

[ercchry]

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It’s only overpriced if it’s more expensive than it’s worth to you

Yeah, RE has so much wiggle room for justifiable validations... if the property is sitting, then there is currently no buyer that sees that value in that home, if it’s a new listing, well we just don’t know yet.

As a buyer though, you only have what’s currently being offered as your choices, your personal needs and wants need to align with what you’re willing to pay for that ideal home if it’s available. If not? Too bad.

I’ve been casually looking myself all spring and really only a handful of listings have even interested me over a pretty large price range, some have sat for a while and some have moved within a week, strange times

[killramos]

I know lots of people who have been very happy with homes they have bought over the last period.

[ercchry]

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I know lots of people who have been very happy with homes they have bought over the last period.

Good time to get into Mount Royal

[killramos]

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Good time to get into Mount Royal

Yup

[Rocket1k78]

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Is the market stabilizing or nah. I’m finding it hard to tell if places are priced well or not, at least one the realtor has told us he feels a place is wildly overpriced and it’s not even worth viewing.

Saw in the other thread you got GF so maybe no kids? if thats the case you're in the best position to hold off imo. Like Darkane said, its still over priced because a lot of people are just listing for shits and giggles and if they get their high price they sell and if not no biggie but guys like this are giving the real sellers false hope because now they think theirs is worth more than it actually is. Im the farthest from a pro in this but id hold off til after summer at least. My buddy whos a realtor has passed on a few listings because he knew it was a waste of his time

[Twin_Cam_Turbo]

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Saw in the other thread you got GF so maybe no kids? if thats the case you're in the best position to hold off imo. Like Darkane said, its still over priced because a lot of people are just listing for shits and giggles and if they get their high price they sell and if not no biggie but guys like this are giving the real sellers false hope because now they think theirs is worth more than it actually is. Im the farthest from a pro in this but id hold off til after summer at least. My buddy whos a realtor has passed on a few listings because he knew it was a waste of his time

That’s valid. I’m a little frustrated not having a garage, and we are paying an extortionate amount of rent for a 1 bedroom apartment. I guess we just need to wait for something close to ideal that’s in our range and go for it, I’m willing to wait up to another year.

[Buster]

buy buy buy !

[prae]

Late fall and into winter has always been (in my very limited and completely anecdotal experience) the best time to buy, because by then only "real"/motivated sellers will list and face the prospect of moving out in the dead of winter. The downside is, inventory is limited.

You're now in the enviable position of not needing to move immediately and while timing the market (whether it's @Buster 's favourite asset class, or any other asset class) is ultimately a fool's errand, you can at least take the time to save some additional coin and find something you can truly live with for a decade+. You need to buy with that kind of mindset.

In my area I don't see a ton of evidence that the market is inflated. Stuff that's overpriced is sitting and stuff that's priced appropriately is selling, in due course. I don't see a ton of appreciation from the benchmark I had in my mind eight years ago for the "prototypical" house here.

[Cagare]

I would speculate that the buying frenzy has passed us now. Once things open up in July, and we have some kind of a stampede, I think buying houses will be the last thing on people's minds come July. There will be a lot of travelling and partying going on and the housing market will settle out either till sometime in the fall, or next spring.

[killramos]

Don’t worry. People will realize how broke they are soon enough.

[suntan]

I'm going to buy houses and just burn them down.

[ExtraSlow]

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I'm going to buy houses and just burn them down.

I support this approach.

[killramos]

Should start with ES’s attached neighbor

[90_Shelby]

I'd hold off on buying, pricing in Calgary usually goes down as oil prices go up. Not to mention, with the current rate of inflation, house prices will definitely get cheaper by next year, similar to how lumber prices have become more favorable since last summer.