Real estate in Calgary - another bubble?

[Lubicon]

Originally Posted by Wormius

Don’t we already have to pay to enter provincial and national parks?

Technically no, only to stop or stay in them.

[Wormius]

Originally Posted by Lubicon

Technically no, only to stop or stay in them.

Yeah, but I guess you're not really overcrowding them by just passing through.

[Twitchy15]

Amazed the housing market is still so crazy. Had a few people I work with trying to buy houses over the last few months and year and just sounds like not a fun time.

my neighbour listed her house for a pretty large amount because it looked like it was straight from 1960 and got 25k less then list surprisingly.

[Slava]

I've kind of been on the fence regarding the prices of housing and affordability (not that I debate it, it's just that it seems like its difficult for every generation). But, I have to say, I saw the sales prices of two places in my neighbourhood that sold in the past few weeks (after being listed for just a couple days) and it's just plain stunning.

[Twitchy15]

Originally Posted by Slava

I've kind of been on the fence regarding the prices of housing and affordability (not that I debate it, it's just that it seems like its difficult for every generation). But, I have to say, I saw the sales prices of two places in my neighbourhood that sold in the past few weeks (after being listed for just a couple days) and it's just plain stunning.

Yeah I've been looking at places for sale every so often and just cannot believe the prices. People are just trying to get as much as they can and people are paying seems wild.

But it is very depressing for anyone who is hoping to buy a house felt expensive years ago and we actually had it pretty good compared to now.

[Bigtime]

Quick look at my neighbourhood, things for SFH have been hot right now.

#1 sold in 1 day +50k over ask
#2 sold in 45 days -49K from ask
#3 sold in 7 days +42K over ask
#4 sold in 15 days +26K over ask
#5 sold in 4 days +37K over ask
#6 sold in 13 days at list

[photon]

Makes me wish it was time to downsize.

[Twitchy15]

A couple I work with moved here a few months ago and they were going to look at houses after work almost every day and constantly missing them or outbid just wild. They finally bought but basically had to offer 60K over ask the evening the house went for sale with no conditions...

[moncton golden flames]

Originally Posted by undercoverbrother

Why are people moving to Moncton?

Are they being drawn there by Magnetic Hill?

It looks like a Tidal Bore of migration.

I think there is a large group of people who are attracted there because of cultural reasons. Lots of northern New Brunswickers and possibly Quebecers (French) move to the 'big' French speaking Cities of Moncton & Dieppe.

Cost of living is also very attractive, although in the last few years that advantage is dwindling from what I have seen.

Combine culture, cost of living with the amazing natural environments surrounding the area like National Parks (Fundy & Kouchibouguac) within an hour drive. Also, the warmest saltwater beaches north of Virginia in Shediac and Cap Pele. It really is a great place, especially if you enjoy the outdoors.

Just my 2 cents.

[aiy_yah]

Originally Posted by Twitchy15

Yeah I've been looking at places for sale every so often and just cannot believe the prices. People are just trying to get as much as they can and people are paying seems wild.

But it is very depressing for anyone who is hoping to buy a house felt expensive years ago and we actually had it pretty good compared to now.

Had a cul-de-sac neighbor with the same city and Honest Door assessed values as my house list for ~$250k over city assessed, which was ~$150k over Honest Door assessed and they sold in less than a week for $60k over asking.

If I didn't have to overpay to buy another place, I'd be tempted to sell.

[greyshep]

Originally Posted by Bigtime

Quick look at my neighbourhood, things for SFH have been hot right now.

#1 sold in 1 day +50k over ask
#2 sold in 45 days -49K from ask
#3 sold in 7 days +42K over ask
#4 sold in 15 days +26K over ask
#5 sold in 4 days +37K over ask
#6 sold in 13 days at list

Realtors must be loving this. Percentage based commissions and homes that sell almost instantly. Almost criminal really.

[Cappy]

Originally Posted by greyshep

Realtors must be loving this. Percentage based commissions and homes that sell almost instantly. Almost criminal really.

Nah, man. you are forgetting about all the work they are putting in to the sale. It's deserved.

Think about all that expertise you have to pay for to properly value a property and then, how amazing they must be that within one day, it sells over what they told you to list it for?!?!

they must be doing something right

[BlackArcher101]

Originally Posted by Cappy

Think about all that expertise you have to pay for to properly value a property and then, how amazing they must be that within one day, it sells over what they told you to list it for?!?!

This is funny as a few days ago I was browsing and noticed two detached homes in my area going for about $480k. They should have been easily $650k+, but instead listed for less than what the semi-detached duplex were going for.

Same realtor for both. Both lasted about 5 hours.

[sketchyt]

Originally Posted by greyshep

Realtors must be loving this. Percentage based commissions and homes that sell almost instantly. Almost criminal really.

Yep:

https://www.cbc.ca/news/canada/briti...pact-1.7148033

[Engine09]

Realtors are by far the most useless people involved in the entire process, for the "expertise" they offer and what skills they have it's laughable that they've been getting that kind of a commission.

[blankall]

Originally Posted by Engine09

Realtors are by far the most useless people involved in the entire process, for the "expertise" they offer and what skills they have it's laughable that they've been getting that kind of a commission.

I had great experiences buying properties both times with my realtor. They directed me to focus in on properties, I would never have found on my own. They also helped me win a bidding war. I obviously didn't have to pay their commissions on the buying side.

As a seller, I'd imagine staging and marketing your home is where the realtor comes in, or in a slow market, actually finding the buyers. A good realtor should be adding value to your sale.

I do agree that a lot realtors are awful though. You just need a good one.

[The Fisher Account]

My house has gone up in value so quickly that I can't really afford to move/upgrade. So now I just get to enjoy higher property taxes

#firstworldproblems

[greyshep]

Originally Posted by blankall

I had great experiences buying properties both times with my realtor. They directed me to focus in on properties, I would never have found on my own. They also helped me win a bidding war. I obviously didn't have to pay their commissions on the buying side.

As a seller, I'd imagine staging and marketing your home is where the realtor comes in, or in a slow market, actually finding the buyers. A good realtor should be adding value to your sale.

I do agree that a lot realtors are awful though. You just need a good one.

Maybe in slow times I can see your point, but even then the commission seems kinda ridiculous.

Right now you can put any steaming turd up on the market and its gone within days. If I wanted to sell my clean and very well cared for home what would a realtor be able to add in value that would come even close to justify a $30-$40k bill?

I guess taking those photos and creating an online ad is an arduous task though.

[troutman]

Originally Posted by greyshep

Realtors must be loving this. Percentage based commissions and homes that sell almost instantly. Almost criminal really.

Imagine being a realtor acting for a buyer now. Multiple showings, multiple offers written, no deals for their clients.

[Tron_fdc]

Wouldn't that be like an actual sales job? Spend countless hours building out proposals, going through stacks of paperwork clients send in with their RFQ's, build out a quote, and watch it go to someone else who bid it lower. Happens to me all the time.

I'd give my left testy to hit 100% conversion on my quotes.