Calgary real estate prospects

[BerserkerCatSplat]

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I'm starting to realize that many of you are only going to be happy with custom built homes to exactly your specs. The things you are picking out on some of these houses are things I don't notice at all. The house on Drury Ave looks really nice.

So much this. Most of the places that get roasted on here I'd be more than happy to live in, I'm just not very picky. Guess I'm builder-grade.

[JfuckinC]

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So much this. Most of the places that get roasted on here I'd be more than happy to live in, I'm just not very picky. Guess I'm builder-grade.

Nah, nothing wrong with you guys, its the simulated beyond balling thats always happening. We all do it from time to time, comment on things we can't afford like it matters

[pheoxs]

A month into the year so far and it looks like housing is going to be crazy hot again this year. Detached properties look much closer to 2022 panic buying than 2023 which had cooled a bit.

Active listings:
2022 - 1,112
2023 - 1,216
2024 - 1,010

Sales as % of new listings:
2022 - 79%
2023 - 62%
2024 - 78%

Days on market:
2022 - 28 (16 in Feb)
2023 - 41 (40 in Feb)
2024 - 31 (22 in Feb)

Best of luck to anyone looking to buy, it's going to be a very ugly spring.

[suntan]

Rates are going down! Just like your mom!

[kJUMP]

Got possession and moved in a couple weeks back. Really enjoying it so far; feels very familiar but at the same needs some getting used to, if that paradox makes any sense. Moving though was worse than I remembered, I aged 5 years roughly.

[max_boost]

ooo yes congrats!! pretty sure i walked by this place if it's what i was thinking. the builder's sign was out front

[kJUMP]

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ooo yes congrats!! pretty sure i walked by this place if it's what i was thinking. the builder's sign was out front

thanks! yup, the sign is still out in front. either it's frozen in place or part of the contract to remain there for advertising.

swing by for a drink next time you're around...

[16hypen3sp]

If I'm pursuing a private deal (me buying, someone else selling) should I involve a realtor in any way, shape or form?

Situation: A house in Red Deer was listed last year during the summer. Went until October and expired. I keep going back to the old listing and looking at it and decided to knock on their door and see if they were interested. They said they were open to a private deal but had a plan to relist in later spring.

I don't know exactly what it's worth tho. I know what they were asking last year and I know what the 2024 assessed value is from City of RD (dropped by at least 20k). Should I get my realtor (the one selling my current home) to dig into what it's worth and see if they had offers last year or keep them completely out of it and just deal strictly with lawyers only and the figures I already know???

I've asked multiple people this and no one seems to have any idea on what to do or how to move this ahead. Once we have that figured out, if I move ahead, I'd take a look around their place and see if we can come to a deal and then get lawyer to do offer to purchase with conditions (selling my place, financing, home inspection.)

[pheoxs]

Typically I'd say realtor? No. lawyer? Yes.

However you would also need to check your existing selling realtor agreement to see if you agreed to have them represent you if buying within a certain timeframe. If you did then you'd be obligated to pay them whether you use them or not.

For a private deal you can pull comparables for the area from recently sold on honest door or even just ask Jordan and he probably would. And then go through it with the owners to find a price you agree upon. You'd hope you save a bit because they won't have to pay the 7/3% commissions but some owners sort of can't wrap their head around that savings and still want market price.

[killramos]

If you involve your realtor they are going to expect to get paid. If they find out expect to get sued.

If the home was listed in the last year they likely have a trailer on the listing agreement and will also expect to be paid.

Sounds like you need some professional help sorting through details and steps here… might I suggest, I dunno…

A real estate agent?

What are you concerned about? Buyer doesn’t pay the agent anyway.

[16hypen3sp]

So the realtor represents me on my behalf at a private deal?

Does this look stupid after talking face to face with them about a private deal then a realtor shows up?

[ExtraSlow]

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Buyer doesn’t pay the agent anyway.

I kind of hate this statement even if I know what you mean. The entire deal is more expensive, and the buyer is the only one putting money in, so in the end, the realtors payment comes from the buyer.
Now, if you negotiate the same total price without a realtor representing either side, then the buyer shouldn't care, but the seller should. However, I think in general realtors make the transaction more expensive for both.

[arcticcat522]

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Typically I'd say realtor? No. lawyer? Yes.

However you would also need to check your existing selling realtor agreement to see if you agreed to have them represent you if buying within a certain timeframe. If you did then you'd be obligated to pay them whether you use them or not.

For a private deal you can pull comparables for the area from recently sold on honest door or even just ask Jordan and he probably would. And then go through it with the owners to find a price you agree upon. You'd hope you save a bit because they won't have to pay the 7/3% commissions but some owners sort of can't wrap their head around that savings and still want market price.

This....as soon as any realtor is involved, they want to get paid. Just do it between you and them. Both parties should have a lawyer for all the paperwork. Everything can probably be done via docusign too.

[Team_Mclaren]

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I'm starting to realize that many of you are only going to be happy with custom built homes to exactly your specs. The things you are picking out on some of these houses are things I don't notice at all. The house on Drury Ave looks really nice.

It's ok, most of the ones bitching lives in a builder grade house anyways.

[16hypen3sp]

I haven't hired a realtor to sell my place yet. I've been recommended one and I contacted her to see what my place is worth. She did that and now this is where I'm at. I haven't hired her as my realtor to sell yet.

My plan is to hire her for the sale of this house and that's it. I just wanted to know if I should keep her out of me buying another house. (This one in RD in particular.) Or involve her in finding out what the place is worth and what have you.

[89coupe]

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If I'm pursuing a private deal (me buying, someone else selling) should I involve a realtor in any way, shape or form?

Situation: A house in Red Deer was listed last year during the summer. Went until October and expired. I keep going back to the old listing and looking at it and decided to knock on their door and see if they were interested. They said they were open to a private deal but had a plan to relist in later spring.

I don't know exactly what it's worth tho. I know what they were asking last year and I know what the 2024 assessed value is from City of RD (dropped by at least 20k). Should I get my realtor (the one selling my current home) to dig into what it's worth and see if they had offers last year or keep them completely out of it and just deal strictly with lawyers only and the figures I already know???

I've asked multiple people this and no one seems to have any idea on what to do or how to move this ahead. Once we have that figured out, if I move ahead, I'd take a look around their place and see if we can come to a deal and then get lawyer to do offer to purchase with conditions (selling my place, financing, home inspection.)

Just get a good real estate lawyer. No need for a realtor.

As long as you have done your research on what the current market value is for the home you want to purchase, no need for a realtor.

Just make sure you review the title and RPR with your lawyer before signing anything.
Also suggest doing a home inspection.

[Cagare]

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Just get a good real estate lawyer. No need for a realtor.

As long as you have done your research on what the current market value is for the home you want to purchase, no need for a realtor.

Just make sure you review the title and RPR with your lawyer before signing anything.
Also suggest doing a home inspection.

Agreed on this. I have closed a deal with just a good lawyer in this exact situation.

We have many more tools at our disposal today to determine the right price for the property. Once you know that then negotiate in good faith with the current owner.

[16hypen3sp]

Ok. So I'm going to contact the realtor and tell her I want to hire her to sell my current place and that's it. Just sell.

The next step on the buying portion of this is to contact those owners and set up a date to take a look around. No realtors involved in any way.

[msommers]

If you have the option to avoid a realtor, do it. Let the lawyers handle legal, let the home inspectors handle the house and enjoy the thousands of dollars of savings.

[Cagare]

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Ok. So I'm going to contact the realtor and tell her I want to hire her to sell my current place and that's it. Just sell.

The next step on the buying portion of this is to contact those owners and set up a date to take a look around. No realtors involved in any way.

Yeah, just ask your realtor to list your home. If they ask about where you are going, let them know you are arranging a private deal. If they react poorly to that, which I would hope is unlikely, I would then decide if you want to continue to work with them.

If you haven't seen the other house then most definitely, go see the other house. If you are comfortable with the current owner being there then do that. I generally like them being there because you can at least gauge the types of owners they have been, and you can even ask basic questions and see how much information they provide, etc. Whatever you and them are most comfortable with. Just be a nice person about things and expect the same in return.