02-06-2008, 09:42 PM
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#2
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Lifetime Suspension
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post
Last edited by taco.vidal; 04-22-2018 at 11:56 AM.
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02-06-2008, 09:51 PM
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#3
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Lifetime Suspension
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i have surfed away from the listings now ... just an observation though.
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02-06-2008, 11:40 PM
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#4
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Franchise Player
Join Date: Apr 2003
Location: 30 minutes from the Red Mile
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Quote:
Originally Posted by DementedReality
I was browsing the MLS and there are some seriously good deals out there.
I filtered to houses between 250 and 450 k and had like 12 pages of returns and some houses with some very nice upgrades and packages.
Has Airdrie been hit hard by something in particular? Some of those properties would be in the 600k range in Calgary.
Or am I mistaken?
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depends where in Calgary, if you look hard enough you can find similar stuff in similar price range in Calgary too. Airdrie is just another bedroom burb that got over-inflated during the '06 boom when everyone got it drilled in their head that they can't afford to stay inside Calgary by the media. By the end of '07 you can find cheaper stuff in Calgary everywhere you look when compared to Airdrie. (the higher end homes)
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02-07-2008, 12:40 AM
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#6
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Franchise Player
Join Date: Apr 2003
Location: 30 minutes from the Red Mile
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02-07-2008, 08:37 AM
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#7
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Franchise Player
Join Date: Oct 2001
Location: NYYC
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The problem with living in airdrie is that you gotta live in airdrie.
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02-07-2008, 08:50 AM
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#8
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Crash and Bang Winger
Join Date: Jul 2006
Location: Lethbridge and PL11 (formerly 311)
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Quote:
Originally Posted by Incinerator
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One question I have always wondered is why doesn't every mls listing have the address on there? Here in Lethbridge every single one has it on there. Since real estate is about location, location, location.... I think the specific location would be the most important detail on the listing.
The 4th one you posted has the address on there but the other 3 just show the community.
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02-07-2008, 10:35 AM
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#9
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Franchise Player
Join Date: Jul 2003
Location: Section 218
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There is no way those Airdrie homes are worth 1/2 a million dollars (Or the suburban Calgary homes for that matter). You could build a million of them (literally, and likely more) around Calgary with the land available and there is no way something so easily aquired (no long term scarcity) is worth that much.
The only question in my mind is how far do prices actually fall and/or how long do prices stay flat for inflation to absorb the difference between their real worth and current market price. Either way i feel bad for anyone who paid that upfront, again likely more, 6 months ago.
Claeren.
Last edited by Claeren; 02-07-2008 at 11:13 AM.
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02-07-2008, 10:38 AM
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#10
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Scoring Winger
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Quote:
Originally Posted by fotze
That is annoying. Real estate is largely about hiding stuff from the buyer, even though the buyer will see right away if they decide to visit the house. Biggest annoyance is when they don't put a price on the listing (not on mls of course).
Also, why don't they put a price on the sign in front of the house?
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Then you wouldn't have to call the realitor...
________
LovelyWendie99
Last edited by metal_geek; 05-05-2011 at 11:55 PM.
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02-07-2008, 10:39 AM
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#11
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In the Sin Bin
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Quote:
Originally Posted by DementedReality
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That is very similar to the place I live in in Cranston, and carries a similar price tag.
Ultimately, I would expect Airdrie, Cochrane, Strathmore and Okotoks to be a little cheaper than Calgary... that's part of the point of living in the Suburbs. The tradeoff is the horrible rush hour drive in and out.
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02-07-2008, 11:24 AM
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#12
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Backup Goalie
Join Date: Apr 2007
Location: Airdrie
Exp: 
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Quote:
Originally Posted by Table 5
The problem with living in airdrie is that you gotta live in airdrie.
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I love living in Airdrie, it has been the best move I have ever done. Quiet, Friendly and has all the amenities that you need. Great Family community. I have lived in numerous areas in Calgary, and I have been extremely pleased with the commute too. I can get downtown 25% faster than people I know that live in Somerset, Bridlewood, and the Cranston and etc...
__________________
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02-07-2008, 11:26 AM
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#13
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Powerplay Quarterback
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Quote:
Originally Posted by metal_geek
Then you wouldn't have to call the realitor...
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Exactly, just like a Boxing Day sale advertisement. Get you in the store, then they can sell, sell, sell!
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02-07-2008, 11:36 AM
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#14
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Lifetime Suspension
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Quote:
Originally Posted by Claeren
There is no way those Airdrie homes are worth 1/2 a million dollars (Or the suburban Calgary homes for that matter). You could build a million of them (literally, and likely more) around Calgary with the land available and there is no way something so easily aquired (no long term scarcity) is worth that much.
The only question in my mind is how far do prices actually fall and/or how long do prices stay flat for inflation to absorb the difference between their real worth and current market price. Either way i feel bad for anyone who paid that upfront, again likely more, 6 months ago.
Claeren.
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so you are in the camp that prices are coming down?
with that said, if i am selling in the same market, will it really matter if i sell and buy on the way down or not? my property in theory will track what i am buying ... so even if i wait for the market to correct, my current house will also get the correction and i am no further behind or ahead.
right?
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02-07-2008, 11:36 AM
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#15
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The new goggles also do nothing.
Join Date: Oct 2001
Location: Calgary
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Quote:
Originally Posted by Claeren
the difference between their real worth and current market price
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Their real worth IS the current market price, by definition. How much a house is worth on the market is how much it will sell for, and is defined by the supply and demand.
If prices go down, I don't think it's because the "real worth" is drawing it down, it's just because demand is softening and supply has increased.
__________________
Uncertainty is an uncomfortable position.
But certainty is an absurd one.
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02-07-2008, 11:43 AM
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#16
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Backup Goalie
Join Date: Apr 2007
Location: Airdrie
Exp:
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Quote:
Originally Posted by Top Shelf
Exactly, just like a Boxing Day sale advertisement. Get you in the store, then they can sell, sell, sell!
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Hey, you get back to work or I'll tell your boss. 
__________________
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02-07-2008, 11:46 AM
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#17
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Franchise Player
Join Date: Jul 2003
Location: Section 218
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Quote:
Originally Posted by photon
Their real worth IS the current market price, by definition. How much a house is worth on the market is how much it will sell for, and is defined by the supply and demand.
If prices go down, I don't think it's because the "real worth" is drawing it down, it's just because demand is softening and supply has increased.
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Yes and no.
Semantics aside, the 'real worth' i am talking about is its life time year by year value. There will be peaks and valleys in its market price, but behind that will be a 25 or 50 years trend.
Your realized market price in one moment of time means nothing relative to that larger trend over time.
Putting it another way, there is market value and market price. Just because i pay $450,000 for a $250,000 house does not mean i got good value.
At some point something has to give. You may find someone willing to give you $500,000 for it (with them starting the same scenario over at a yet even higher price), you may wait long enough that inflation builds that $250,000 value to match your $450,000 price, or you may absolutely need to sell that asset at some future point and only get an inflation adjusted $240,000 for it. But it doesn't change the fact you paid $450,000 in market price for something with only $250,000 of long term market value.
You believe that fundamentals have driven 100% of the price growth and i just find that hard to believe. I don't think OUR prices will crash, but i think that when you look around the world and see a real estate bubble in virtually every country on earth, with 2/3's of them crashing, you have to think that speculation and a bubble is part of the reason.
There were plenty of reasons that there was price growth in Calgary but all of them have to do with SHORT TERM scarcity in labour, land and materials. Disturbing to me is that not a single one of those exists as a long term restraint to supply in Calgary.
Virtually every city on earth with prices comparable to Calgary have long term/permanent restrictions on supply and thus scarcity, particularily in land.
Claeren.
Last edited by Claeren; 02-07-2008 at 11:54 AM.
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02-07-2008, 11:55 AM
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#18
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The new goggles also do nothing.
Join Date: Oct 2001
Location: Calgary
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Ah ok I see what you mean, and in general I agree. There are things which will take a property and permanently alter it's long term market value (change of use, zoning changes, that sort of thing).
__________________
Uncertainty is an uncomfortable position.
But certainty is an absurd one.
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02-07-2008, 11:55 AM
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#19
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Scoring Winger
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Quote:
Originally Posted by Table 5
The problem with living in airdrie is that you gotta live in airdrie.
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Obviously you know nothing of Airdrie as you wouldn't make such an ill informed statement like this.
Airdrie is the ideal community to raise a small family in. If your looking for the urban condo, cocktails every other night and social night life full of trendy pretenders then stick to downtown Calgary. For the remainder of us folks who live your average life style, spouse, kids and dog(s) this place is great.
The only knock against the city is the selection of restaurants. In the past year it has improved and with the Balzac outdoor mall it should tie up that loose end soon.
If your in the market for a good home the only area's I would stay away from are Canels and Bayside. It could happen anywhere I suppose but to date these are the only two communites to have the "drug houses" that I'm aware of.
__________________
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02-07-2008, 11:57 AM
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#20
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Franchise Player
Join Date: Jul 2003
Location: Section 218
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Quote:
Originally Posted by DementedReality
so you are in the camp that prices are coming down?
with that said, if i am selling in the same market, will it really matter if i sell and buy on the way down or not? my property in theory will track what i am buying ... so even if i wait for the market to correct, my current house will also get the correction and i am no further behind or ahead.
right?
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What?
If you buy high and then sell on the way down you lose a LOT of money.
The same leveridge that makes so many people so much money on the way up loses people so much money on the way down. It is why people throw themselves off buildings when real estate prices drop....
Claeren.
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