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ranchlandsselling · 02-08-2016, 09:44 AM

I'm still amazed at some of the pricing going on out there.

I see a townhouse listed around $385 today that I know the exact same floor plan sold when things were running up in 2013 for $365. It's insane. Let's say that there's $20k in reno's done, and a $20k difference is applicable assuming ALL THINGS BEING EQUAL.

They're not. At all. It's a vastly different Calgary than it was 18 months ago and 36 months ago.

Looking at that article, they state that appraisals on million plus homes are coming in significantly cheaper. I've watched a ~$1.2 million lists that was bought for $~1.15 late spring, early summer 2014. It's listed higher and has been for about 10 months.

I bought in 2012 for what I thought was a good deal, I'm content assuming that in this market I'd break even or lose money. But I've seen houses listed in my neighbourhood in worse locations, that are in awful condition comparatively, bad layouts and they want $50-100k more than I paid. It makes me want to smack the listing agent. This isn't an "I think my house is better than that house" kind of thing that every home owner has this is a "I wouldn't live in that house" and they want more than I paid for my house by $100k in a vastly worse market with no signs of turning around.

It's fine to try to get the max for your client, yourself, etc. But I'm so surprised at times with some of the things witnessed in the real estate market. I guess now is the time a good realtor will differentiate themselves from all the rest. If you've got a listing for 6-12 months you're not getting paid. The agent that lists for a reasonable price will get paid, assuming the client doesn't go with the realtor who lists higher. Two agents, one says "$500k", the other says "$450k" it'd be hard to not go for $500k.

Tough market.

02-08-2016, 09:44 AM	#2926
ranchlandsselling Powerplay Quarterback Join Date: Jan 2011 Exp:	I'm still amazed at some of the pricing going on out there. I see a townhouse listed around $385 today that I know the exact same floor plan sold when things were running up in 2013 for $365. It's insane. Let's say that there's $20k in reno's done, and a $20k difference is applicable assuming ALL THINGS BEING EQUAL. They're not. At all. It's a vastly different Calgary than it was 18 months ago and 36 months ago. Looking at that article, they state that appraisals on million plus homes are coming in significantly cheaper. I've watched a ~$1.2 million lists that was bought for $~1.15 late spring, early summer 2014. It's listed higher and has been for about 10 months. I bought in 2012 for what I thought was a good deal, I'm content assuming that in this market I'd break even or lose money. But I've seen houses listed in my neighbourhood in worse locations, that are in awful condition comparatively, bad layouts and they want $50-100k more than I paid. It makes me want to smack the listing agent. This isn't an "I think my house is better than that house" kind of thing that every home owner has this is a "I wouldn't live in that house" and they want more than I paid for my house by $100k in a vastly worse market with no signs of turning around. It's fine to try to get the max for your client, yourself, etc. But I'm so surprised at times with some of the things witnessed in the real estate market. I guess now is the time a good realtor will differentiate themselves from all the rest. If you've got a listing for 6-12 months you're not getting paid. The agent that lists for a reasonable price will get paid, assuming the client doesn't go with the realtor who lists higher. Two agents, one says "$500k", the other says "$450k" it'd be hard to not go for $500k. Tough market.