Calgary real estate prospects

[pheoxs]

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A house down the street from me just sold for $717,500. It has to be money laundering. I refuse to believe that there's any way an original house in my area can sell for that much. Infill, sure, but an 1100sq.ft bungelow? Fuck off.

Yeah its nuts. 11 of the last 18 houses sold here have gone for 600-700k+. Few years ago seeing a house list for high 400's felt outrageous.

So many of the houses being sold here now are gut / full renos just to be listed. I wonder if it's a small group that's just targetting the area and moving house to house.

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Probably pure land value depending on where you are.

Split into two 350k parcels, spend 400k on builder grade duplex, sell for 8-900.

Do that x20 projects and you have a decent business on your hands.

Maybe in a couple years, Fairview is still R1 zoned until the blanket zoning goes through or our local area plan is finalized.

[ExtraSlow]

an original bungalow is pretty appealing to some people, and a decent invenstment because of the land. Around here, "land value" on a 50 foot lot is part 500k these days, but we do have the zoning to allow duplexes.

My next house will hopefully be an original bungalow.

[Tik-Tok]

It isn't a tear down. It's been recently renovated, and with a legal secondary suite, but I still refuse to believe it. Original layout, tiny bedrooms, no ensuite, etc. etc. The property itself isn't big enough for duplex, and no real yard to speak of.

[killramos]

I have no idea in Fairview but if it’s renovated on a full sized R1 lot that doesn’t sound out to lunch at all?

[ExtraSlow]

House prices went up in the last few years I hear. Lol. Anyway, the great thing about these transactions is it takes one buyer, and the sale happens at that price. You don't need to be "convinced".

[89coupe]

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an original bungalow is pretty appealing to some people, and a decent invenstment because of the land. Around here, "land value" on a 50 foot lot is part 500k these days, but we do have the zoning to allow duplexes.

My next house will hopefully be an original bungalow.

Part $500k ?

What does that mean?

Most inner city lots with original homes on them with an average lot size of 50x120 are selling around $700-750k now and nice neighborhoods above $1M

[ExtraSlow]

I don't know what part $500k means. Lol. Prob $500k?

[CompletelyNumb]

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A house down the street from me just sold for $717,500. It has to be money laundering. I refuse to believe that there's any way an original house in my area can sell for that much. Infill, sure, but an 1100sq.ft bungelow? Fuck off.

That just means your house will be worth millions in a few years.

[max_boost]

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That just means your house will be worth millions in a few years.

[KrisYYC]

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A house down the street from me just sold for $717,500. It has to be money laundering. I refuse to believe that there's any way an original house in my area can sell for that much. Infill, sure, but an 1100sq.ft bungelow? Fuck off.

Acadia by any chance? I'm in Haysboro and I've noticed prices in Acadia have been going up quickly. Especially if it's an HGTV flip which seems to be all the rage in this part of town.

[msommers]

In the Hayaboro/Fairmont/Acadia areas, are there less teardowns and more interior full gut jobs? Zoning?

[KrisYYC]

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In the Hayaboro/Fairmont/Acadia areas, are there less teardowns and more interior full gut jobs? Zoning?

I'd say more full gut jobs. Stuff like this: https://www.realtor.ca/real-estate/2...lgary-haysboro

And this: https://www.realtor.ca/real-estate/2...lgary-haysboro

I'm pretty sure that first one was listed for over $900k originally? Not sure. All these flips look the same.

[ercchry]

At least for $700k they did work… unlike these delusional people

https://realtor.ca/real-estate/26476...alsharelisting

The virtual tour is great

[haggis88]

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At least for $700k they did work… unlike these delusional people

https://realtor.ca/real-estate/26476...alsharelisting

The virtual tour is great

Jesus christ

My neighbours place is almost an exact copy of that inside

I said when she goes, they'll list it for 700+ and my other neighbour said "No chance"

It has to be people speculating on lot value, the houses aren't worth that

[ExtraSlow]

Money is a false construct.

[Tik-Tok]

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In the Hayaboro/Fairmont/Acadia areas, are there less teardowns and more interior full gut jobs? Zoning?

There ave been a few teardowns over the years, and a couple of full gut jobs, but most are just what I would consider update renovations. No duplex infills (yet) due to zoning.

[msommers]

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I'd say more full gut jobs. Stuff like this: https://www.realtor.ca/real-estate/2...lgary-haysboro

And this: https://www.realtor.ca/real-estate/2...lgary-haysboro

I'm pretty sure that first one was listed for over $900k originally? Not sure. All these flips look the same.

That second one at 1.2M is bonkers. I like the living room chairs, about the only thing in that house sadly.

[jutes]

That house is racist.

[max_boost]

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I'd say more full gut jobs. Stuff like this: https://www.realtor.ca/real-estate/2...lgary-haysboro

And this: https://www.realtor.ca/real-estate/2...lgary-haysboro

I'm pretty sure that first one was listed for over $900k originally? Not sure. All these flips look the same.

Oh my
Amazing
Looks nice
1.179 omg lol

[jwslam]

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At least for $700k they did work… unlike these delusional people

https://realtor.ca/real-estate/26476...alsharelisting

The virtual tour is great

Whose sister is this?