02-28-2022, 04:50 PM
|
#1361
|
|
Franchise Player
Join Date: Mar 2015
Location: Pickle Jar Lake
|
Quote:
Originally Posted by Wormius
Anybody tempted to sell and rent?
|
The only way that makes sense if you expect the market to drop significantly. Looking at the broader Canadian market, I just don't see that happening in Calgary. Not enough to make it make sense, considering the hassle and real estate commissions, plus rent loss. Particularly with inflation. If you are out for 2 years, you'd really need the market to drop, what 20 or 30%?
Last edited by Fuzz; 02-28-2022 at 05:03 PM.
|
|
|
|
The Following 2 Users Say Thank You to Fuzz For This Useful Post:
|
|
|
02-28-2022, 05:01 PM
|
#1362
|
|
Franchise Player
Join Date: Mar 2007
Location: Calgary
|
We seem to be headed into another oil boom with some floor on prices provided by geopolitical issues. I'm skeptical the sell to rent would be beneficial and you could end up upside down on that deal if things continue to increase.
|
|
|
|
|
The Following User Says Thank You to burn_this_city For This Useful Post:
|
|
|
02-28-2022, 05:06 PM
|
#1363
|
|
Uncle Chester
|
I was in Calgary last week. We have decided to move back to Calgary temporarily. There is more inventory than I thought I'd see but not much more. I guess we'll be getting less house for more money. Not ideal.
|
|
|
|
|
The Following User Says Thank You to SportsJunky For This Useful Post:
|
|
|
02-28-2022, 07:49 PM
|
#1364
|
|
Scoring Winger
Join Date: Dec 2011
Location: Calgary, AB
|
I had a chuckle today. I take the same route to drop the kids off at day home each day, so have seen some for sale signs pop up here and there. Today, a house that 100% did not have a for sale sign on Friday had a for sale sign with a conditionally sold sticker on it already!
In our little community outside of the city we had a house that is definitely a fixer upper go for what I would consider the very high end of its value within a week of being on the market and the sale had no conditions. Even had a realtor knock on our door today as she is looking for acreage properties for a potential buyer and there is no inventory.
|
|
|
|
|
02-28-2022, 08:50 PM
|
#1365
|
|
Franchise Player
Join Date: Feb 2011
Location: Somewhere down the crazy river.
|
Quote:
Originally Posted by burn_this_city
We seem to be headed into another oil boom with some floor on prices provided by geopolitical issues. I'm skeptical the sell to rent would be beneficial and you could end up upside down on that deal if things continue to increase.
|
That’s a fear. Maybe now is a better time to look at trading up.
|
|
|
|
03-01-2022, 04:10 PM
|
#1366
|
|
Lifetime Suspension
Join Date: Jul 2012
Location: North America
|
|
|
|
|
|
03-01-2022, 05:14 PM
|
#1367
|
|
The new goggles also do nothing.
Join Date: Oct 2001
Location: Calgary
|
My sister asked me today about the laws governing evictions in Alberta today, she thinks her landlord is trying to evict her so they can sell the house. I wonder how much of that is going on.
__________________
Uncertainty is an uncomfortable position.
But certainty is an absurd one.
|
|
|
|
|
03-02-2022, 07:34 AM
|
#1368
|
|
Uncle Chester
|
I know someone who listed their home at noon yesterday. Had 9 showings in 8 hours and 6 offers. They accepted an offer late last night for $60,000 higher than list.
|
|
|
|
|
03-02-2022, 11:42 AM
|
#1369
|
|
First Line Centre
Join Date: Feb 2014
Location: Uzbekistan
|
Interest rates hiked 25 bps today. Sure hope it's raised a bunch more this year. The amount of people who have no wiggle room for their mortgage payments is baffling to me. Cheap borrowing has been a big factor in runaway real estate prices.
|
|
|
|
|
03-02-2022, 12:48 PM
|
#1370
|
|
Franchise Player
Join Date: Mar 2007
Location: Income Tax Central
|
Quote:
Originally Posted by photon
My sister asked me today about the laws governing evictions in Alberta today, she thinks her landlord is trying to evict her so they can sell the house. I wonder how much of that is going on.
|
Interesting, I had a conversation with a Realtor not long ago about selling my Condo, but it has tenants in it and they said that there are buyers out there who would purchase a 'turn key' rental complete with tenants.
People be cray cray at the moment.
__________________
The Beatings Shall Continue Until Morale Improves!
This Post Has Been Distilled for the Eradication of Seemingly Incurable Sadness.
The World Ends when you're dead. Until then, you've got more punishment in store. - Flames Fans
If you thought this season would have a happy ending, you haven't been paying attention.
|
|
|
|
|
03-02-2022, 01:03 PM
|
#1371
|
|
Appealing my suspension
Join Date: Sep 2002
Location: Just outside Enemy Lines
|
It would be interesting to know how many people have their rates locked in to continue house shopping. If someone locked in at 120 days yesterday do they have until the end of June to buy and still get that rate, or would they need to be in the house and making their first payment at that time?
As a landlord the lease on the house is due at the end of August, and I would love to sell that place. But I think timing wise I'm screwed because come Summer the market will have lot's of places on it, and the panic buying will be done. I believe that I can list the place while the tenant is still there 60 days before the lease expires. I'm sure I can work out a deal where the Tenant there so long as they didn't have to move during the school year. So I'll just have to jack the rent and hope there's still people out there who don't want to buy a house if I can't scoop up one of these last home buyers.
__________________
"Some guys like old balls"
Patriots QB Tom Brady
Last edited by Sylvanfan; 03-02-2022 at 01:06 PM.
|
|
|
|
|
The Following User Says Thank You to Sylvanfan For This Useful Post:
|
|
|
03-02-2022, 01:05 PM
|
#1372
|
|
First Line Centre
|
Quote:
Originally Posted by SportsJunky
I know someone who listed their home at noon yesterday. Had 9 showings in 8 hours and 6 offers. They accepted an offer late last night for $60,000 higher than list.
|
What was the price point, if you don't mind me asking? We just listed and it's been pretty quiet for us 
|
|
|
|
|
03-02-2022, 01:11 PM
|
#1373
|
|
Uncle Chester
|
$599,000 was list.
|
|
|
|
|
03-02-2022, 01:24 PM
|
#1374
|
|
Franchise Player
Join Date: Mar 2007
Location: Calgary
|
$725k was the list for the one that went in a day on my street.
|
|
|
|
|
03-02-2022, 01:34 PM
|
#1375
|
|
First Line Centre
|
Hmm.. Maybe that's it then. We're listed at $1.1MM.
|
|
|
|
|
The Following User Says Thank You to DionTheDman For This Useful Post:
|
|
|
03-02-2022, 01:36 PM
|
#1376
|
|
Franchise Player
|
Quote:
Originally Posted by Johnny199r
Interest rates hiked 25 bps today. Sure hope it's raised a bunch more this year. The amount of people who have no wiggle room for their mortgage payments is baffling to me. Cheap borrowing has been a big factor in runaway real estate prices.
|
Rising rates might be a factor in the current panic buying though. If you have a preapproval/rate hold for a mortgage at a way lower rate than you could get now, then paying a bit extra on the purchase price makes sense. If everyone does that...
|
|
|
|
|
The Following User Says Thank You to bizaro86 For This Useful Post:
|
|
|
03-02-2022, 02:29 PM
|
#1377
|
|
First Line Centre
Join Date: Feb 2014
Location: Uzbekistan
|
Quote:
Originally Posted by bizaro86
Rising rates might be a factor in the current panic buying though. If you have a preapproval/rate hold for a mortgage at a way lower rate than you could get now, then paying a bit extra on the purchase price makes sense. If everyone does that...
|
Yeah, it could have an effect in the short term, it should help in the long term though.
|
|
|
|
|
03-02-2022, 02:55 PM
|
#1378
|
|
Franchise Player
|
Quote:
Originally Posted by Johnny199r
Yeah, it could have an effect in the short term, it should help in the long term though.
|
Agreed re timing.
Although I do think it's unfortunate that everywhere in the country is getting the same medicine. Calgary RE has been in the doldrums for nearly a decade, and is finally shaking off its funk now.
It doesn't seem out of line that different policy might be required here than Vancouver, where things have been out of hand for most of my adult life.
|
|
|
|
|
03-02-2022, 03:33 PM
|
#1379
|
|
First Line Centre
Join Date: Feb 2014
Location: Uzbekistan
|
Quote:
Originally Posted by bizaro86
Agreed re timing.
Although I do think it's unfortunate that everywhere in the country is getting the same medicine. Calgary RE has been in the doldrums for nearly a decade, and is finally shaking off its funk now.
It doesn't seem out of line that different policy might be required here than Vancouver, where things have been out of hand for most of my adult life.
|
I agree, but don't see how it's possible to differentiate with interest rates. Additionally, no one really wants other Canadian cities to suffer the same fate as Vancouver or Toronto.
I'd like to see interest rates raised from the current .50 bps to 2 by the end of the year. Not sure that will happen though.
|
|
|
|
|
03-02-2022, 03:37 PM
|
#1380
|
|
Franchise Player
|
Quote:
Originally Posted by Johnny199r
I agree, but don't see how it's possible to differentiate with interest rates. Additionally, no one really wants other Canadian cities to suffer the same fate as Vancouver or Toronto.
I'd like to see interest rates raised from the current .50 bps to 2 by the end of the year. Not sure that will happen though.
|
Can I ask why you would like to see that?
|
|
|
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
All times are GMT -6. The time now is 12:53 PM.
|
|
