I noticed it but didn't want to tip the rest of y'all before I can sell him some land in Brocket.This quote is hidden because you are ignoring this member. Show Quote
I noticed it but didn't want to tip the rest of y'all before I can sell him some land in Brocket.This quote is hidden because you are ignoring this member. Show Quote
Good Call @RX_EVOLV , a 50' foot lot with a tear-down house in Mount Pleasant is worth $400-$600k depending how close you are to the park. Same lots "two communities north" is what, $150k less for similar land size? Not that far from that $100k/10 minutes commute guideline either.
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On a separate note, anyone else find downtown apartments looking quite affordable?
I dont follow the apartment/condo market and aware of all the oversupply and office vacancy issues, but low to mid 200s for a newer (>2000s) apartment, higher floors with view seems quite cheap! Like these:
https://www.realtor.ca/real-estate/2...lgary-beltline
https://www.realtor.ca/real-estate/2...lgary-beltline
https://www.realtor.ca/real-estate/2...lgary-beltline
I can't imagine any of these being in the 100Ks.. but what do I know
The over supply is a real problem.This quote is hidden because you are ignoring this member. Show Quote
There is massive inventory coming to market.
For reference, I sold my rental in Keynote 3 years ago for ~12% higher than current market values.
1 bed / 1 bath with < 400 sq ft and ~$0.63/sq ft condo fees. Location is great and finishings are modern, parking is extra on some ... seems expensive to me at 250K. 2 bed, 2 bath, 700 + sq ft for 250K...now we're talking.This quote is hidden because you are ignoring this member. Show Quote
The glory days in Calgary are over for awhile. Lots of people want to rent to see how things shake out, so if you wanna risk it and be a landlord right now...
Ultracrepidarian
All of those places are overpriced, IMO.This quote is hidden because you are ignoring this member. Show Quote
I'm not in the condo market, but a buddy of mine just got one in a similar vintage building that was 50% bigger than those, and in an arguably better location, for low to mid 200s. Maybe he got lucky and got a firesale? idk.
I thought I knew vic park buildings alright and was wondering where Keynote 3 was... had to read the sentence a few timesThis quote is hidden because you are ignoring this member. Show Quote
I would agree there's probably lots of people upsizing after covid times confined them to these small spaces.
Especially couples who live in bachelor and both need to have online meetings
I blame my poor punctuation on my phone lol.This quote is hidden because you are ignoring this member. Show Quote
No real intentions here but more curiosity, what are everyones thoughts on investing in commercial real estate?
Feel like this sector has been hit hard, if not harder than the condo market, and might be some good opportunities out there...
Buy Rio-can or choice properties.
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Fair enough haha
Was looking at the prop. tax on some of cheaper industrial bay type units... ~$10,000/year for 2000sqft of space, add monthly maintenance fees, dunno how some guys do it
Commercial vacancy is going nowhere but up in Calgary.
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The house is not on MLS anymore. Anyone know (or able to check) if it got sold over the weekend or the seller pulled it?This quote is hidden because you are ignoring this member. Show Quote
Price been steadily lowering on this one. At $809K now.This quote is hidden because you are ignoring this member. Show Quote
I'm thinking it's got more to go. The lot is horrendous, not to mention the quality of the reno is questionable. If I can pick things out of the photos that indicate low quality work, there's bound to be (lots) more that are not readily apparent... although that may not matter or be applicable to the avg buyer, I suppose.This quote is hidden because you are ignoring this member. Show Quote
I would really like to hear more about your assessment of the lot and quality of the Renos - still learning about this stuff.This quote is hidden because you are ignoring this member. Show Quote
Neil
Originally posted by arian_ma
your stomach is full of sulfuric acid
I'll take a stab at this. The lot is just a really bad layout. Almost nothing for a private backyard and instead its almost all front yard and a ton of sidewalk. Winter maintenance is a bitch. The small bit of yard you do get is north facing which means even in the summer you'll get minimal sunlight.This quote is hidden because you are ignoring this member. Show Quote
In terms of reno quality (my opinion) there's some weird things.
The island is weirdly laid out. Microwave doesn't look like its meant to be there and just a cheap cover to make it fit. The cupboard layout is odd too ... sorta looks like it wasn't planned well? Would've made more sense to put the outlet beside the microwave in the dead piece of trim. And then the cupboard and drawer on the left to make them matching? (More of a personal preference I guess)
There's also a weird chunk of missing trim on the opposite side of the island at the very bottom. Not sure if its for a vent or the door won't open with trim?
This looks like they forgot a vent?
This has gaps in the baseboard ... looks like the floor isn't level. There's a few places in the house similar but this one looks the most obvious. And they forgot to paint part of the baseboard too?
One could argue the lot is subjective, but the fact that it's a reverse pie lot with a couple weird triangle shaped backyard sections probably won't appeal to a lot of people (would be interested in an opinion from a realtor, or someone like that who's much more knowledgable than me).This quote is hidden because you are ignoring this member. Show Quote
Just one simple example RE: quality of work - the millwork in the kitchen. The veneer on the drawer fronts doesn't match on most of them - in the pics, I could only find two drawers that were done "right", where the woodgrain matches from one drawer to the next:
whereas all others were done the lazy way (i.e. not matched to one another):
This indicates that whoever they hired to do their millwork is not as concerned about quality of work as they are about cost/time, and I would bet this applies to most (if not all) of the other subtrades they used.
edit: I'd say @pheoxs post corroborates this well haha.
Flips are profitable for a reason, and it's not because they use expensive, high quality trades to do the work.
Last edited by bjstare; 11-20-2020 at 11:53 AM.
it wasn't priced to sell from the getgo. when you look at the houses available at that price range, you have a bevy of options all over the city.
but i really like this location, it'd be nice to tear it down and build something more modern in its place.
Definitely not my kinda house lol. Maybe it's just the way the pictures are framed, but to me it feels like the entire house is like basement with 7.5' ceilings. Master bedroom seems dark to me despite all the lighting too.