Calgary real estate prospects

[JohnnyHockey13]

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Shits beyond wacky now, my buddy lives by this house and its on the main road to get into sage and backing onto other houses. https://calgaryhomes.ca/listing/a118...berta-t3r-0x4/



I thought for sure this was going to happen in 2020-21 but nothing and if everyones saying its OOP money then i cant see that either but as i said before, i wouldve bet every cent i had that theres no way our RE would go buck like this.
We found our perfect house the week before schools shut down in 2020 but i was telling my wife we should wait because i wasnt sure id still have a job and there are going to be tons of fore closures as time went on. Good thing i didnt stick to my guns

I sold in March 2021 because I thought it would be short-lived, now we rent in vancouver lol how do you think I feel watching all this sold for 487, now houses in my old hood in Airdrie are selling for over 700 and going up every day.

[killramos]

Timing the market is always fun.

[suntan]

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I sold in March 2021 because I thought it would be short-lived, now we rent in vancouver lol how do you think I feel watching all this sold for 487, now houses in my old hood in Airdrie are selling for over 700 and going up every day.

Aren't prices in Vancouver even higher than before?

[ExtraSlow]

You know what they say, it's always smart to gamble with the house you live in.

[Rocket1k78]

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I sold in March 2021 because I thought it would be short-lived, now we rent in vancouver lol how do you think I feel watching all this sold for 487, now houses in my old hood in Airdrie are selling for over 700 and going up every day.

We were on the same thought too, I sold in feb 21 and my bro sold his jan 21. My bro's place was 2500sq/ft in the hamptons over looking shag and it sold for 690k, he thought he made off like a bandit lol

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Aren't prices in Vancouver even higher than before?

If he bought in Van he'd be golden but hes renting

[cyra1ax]

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Sage Hill is basically Apsen North.

I thought that was Evanston.

[ExtraSlow]

Sage Hill is like the good part of Aspen. Evanston is like the rest of Aspen. These far-flung suburbs are universally a poor compromise.

[arcticcat522]

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You know what they say, it's always smart to gamble with the house money.

^^^ because CMHC and such..

[Buster]

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^^^ because CMHC and such..

cmhc isn't insurance for YOU.

[ercchry]

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cmhc isn't insurance for YOU.

The opposite really

[JordanEG6]

Stupid question, but I had a relative recently tell me that he sell his house in this current market, make money off it, then buy a bigger house or the same or less money. Does that even make sense? I can't wrap my head around that math lol How does that even work out?

[ExtraSlow]

I think your relative is either deceiving you on purpose, or just bad at math. But I think that about a lot of people who see this hot market as a reason to make a move.

[Buster]

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Stupid question, but I had a relative recently tell me that he sell his house in this current market, make money off it, then buy a bigger house or the same or less money. Does that even make sense? I can't wrap my head around that math lol How does that even work out?

size isn't everything.

[phreezee]

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Sage Hill is like the good part of Aspen. Evanston is like the rest of Aspen. These far-flung suburbs are universally a poor compromise.

Evanston literally looks down on Sage Hill

[killramos]

Could work if you moved out of a really hawt segment into a less hawt segment of the market.

However. People really are quite bad at quantifying the dilutives of moving.

I maintain moving costs you somewhere in the range of 50-75k of dilutives by the time the dust settles. Every time.

[arcticcat522]

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cmhc isn't insurance for YOU.

Wow...that was silly. Should have said "zero recourse" maybe?

[ExtraSlow]

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However. People really are quite bad at quantifying the dilutives of moving. I maintain moving costs you somewhere in the range of 50-75k of dilutives by the time the dust settles. Every time.

This right here. Moving is a great way to destroy wealth.

[Tik-Tok]

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I think your relative is either deceiving you on purpose, or just bad at math. But I think that about a lot of people who see this hot market as a reason to make a move.

Houses in my neighborhood are going for $75g above list price! I'm going to sell because for sure I can buy that bigger house at its current list price!

[Buster]

I'm quite fascinated by peoples' obsession with list price.

[sabad66]

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Stupid question, but I had a relative recently tell me that he sell his house in this current market, make money off it, then buy a bigger house or the same or less money. Does that even make sense? I can't wrap my head around that math lol How does that even work out?

The logic kinda makes sense if you use percentages instead of absolute dollars

I.e. the 300-700k range is crazy hot and increased 30% with offers over list price. But then the 900k+ range is maybe only up 10% and you can maybe get away with offers at list or slightly below.

Not saying that’s a good way to look at it but could be how your relative is thinking about it.