Quote:
Originally Posted by kevman
So what's happening in Calgary right now? Things seem to be taking off again with houses selling fast and for over list. Inventory is low low and demand seems strong. Where is the crash? There are some pretty crappy houses getting snapped up in days!
Are rates going up soon? Inflation is low but the dollar is slipping.
Having only casually followed it all for the last 6 or 7 years things seem very odd right now.
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Warning: Anecdotal 'evidence' to follow
I sold a rental recently, using the following process. I happened to mention to a realtor we were considering selling it. She sent some comps, and asked what we wanted for it. I took what I wanted, and then added a margin of safety for negotiating down, and unexpected costs. This number was aggressive considering comparables over the last year, but I figured I could go down a bit if I had to.
I told the Realtor that number. The next day, she showed it to a client and brought me an offer for 5% above what I had said, before it went on MLS.
The market is surprising strong. I don't think its flood displacement anymore, just a disconnect between supply and demand.