Calgary's NE (newer communities)

[Mike Oxlong]

Originally Posted by ken0042

Am I reading those numbers correctly? Does it say that houses are more affordable in Calgary than in Manitoba?

Because I've been looking at the equity in my house, and thinking of getting a place in Winnipeg with zero mortgage. The only problem being I would then have to live in Winnipeg.



Are you volunteering? (again?)

It doesn't mean houses are cheaper here. It just is basically a ratio between average income in an area and the costs of owning a house.

Manitobans just aren't making as much cash on average as Albertans are.

[V]

shane, I don't know what's so exciting about the newer areas. You pay more for less room and usually a smaller house. Plus, it's really hard to find a bungalow in the newer areas, at least in the NE it seems. I'm in Whitehorn, and I love it. My house might be 30 years old, but it's in good shape, and I have a nice big yard. Plus, the terrible rep the NE gets means I got to buy the place for a nice low price. I love it.

[DementedReality]

Originally Posted by Dominicwasalreadytaken

Plus, the terrible rep the NE gets means I got to buy the place for a nice low price. I love it.

also means your resale value is lower (relativly).

just saying

[Tron_fdc]

Originally Posted by DementedReality

also means your resale value is lower (relativly).

just saying

Sort of. To me and you Forest Lawn is a hole, but to realtors (especially ones advertising outside of Calgary) it's "affordable inner-city". Only a matter of time until prices start sky rocketing in what was once considered the arm pit of Calgary.

I just checked the MLS listings, and you can't get a condo for less than 150k anywhere in the city.....the front page of the Sun has an article saying how average home prices are going up by $500 A DAY.....this is outta control!

[ken0042]

Originally Posted by fotze

What the price is on MLS and what the place actually sells for are two really different things. I was basing my house value on the few places I saw on MLS.

Are they going for more or less? How much more or less?

[Tron_fdc]

Originally Posted by ken0042

Are they going for more or less? How much more or less?

I'm guessing more, unless it's already insanely overpriced.

We should start a CP investment group for chrissake. It's the only way to raise anough money to buy anything in this market.....

[shane_c]

Sometimes a lot more. I've heard that sometimes the price is purposely put on the low side to try and encourage a bidding wore. That to me is pure greed on the part of the seller.

Originally Posted by ken0042

Are they going for more or less? How much more or less?

[Nabber]

Yes this market is brutal on first time home buyers, myself being a younger real estate agent see how much stress they have been going through just trying to get in before prices get out of hand. I actually see it as being un-fair that someone who bought a house only one year ago has a mortgage on average 1000 dollar less than that same house if purchased today.

Shane to answer your question I as well as Bobble live in Taradale, and to be honest I don't mind it but I don't love it at the same time. I would recommend NE areas like Pineridge or Temple as Dominic stated you can get a little more house and a bigger yard. I know the process can be frustrating as I am going through it too, but there are a lot of tools that can help you find something affortable. These new 35 year mortages can help lower monthly payments, as well there are for sale by owner sites that have a lot of under market houses, you just have to know how to find them. I'll send you a pm and can give you some advice to try and help you out if you want.

[Nabber]

House rarely sell for less than list price in this market unless they are way over priced, in some cases houses are selling for 50,000 more than the list price. In certain desirable areas such as Coventry Hills, realtors will fairly price a home on order to create a bidding war, and say the sellers are out of town for a week to get as many showing in a possible, then come friday or whenever that week is up they have like 10 offers which every realtor is aware of and that drives the price up, as someone may have fallen in love with the house and tells their realtor "well how high do we have to go to get this place." I hate that and usually stay away from getting into bidding wars.

[V]

Originally Posted by DementedReality

also means your resale value is lower (relativly).

just saying

That's true, but it doesn't matter, since I enjoy the area I live in and probably won't leave the NE. Stuff like resale value only really matters if you move from one city to another, or from Whitehorn to Pump Hill or whatever.

Besides, I'm pretty sure my area and a similar area in the NW are increasing right now at about the same pace. My place has now gone up over 150K in the last 18 months. If that isn't as fast an increase as some of the areas in the NW, it's damn close to it.

[Antithesis]

Originally Posted by Tron_fdc

I'm guessing more, unless it's already insanely overpriced.

We should start a CP investment group for chrissake. It's the only way to raise anough money to buy anything in this market.....

At very least, maybe an investment club. You know, like, everyone puts in $500 or something, we pool the money, and make investments as a group. I think it'd be cool, and with some of the money minds in here, a chance to bank a bit.

I've started reading Money Sense magazine which I understand is pretty good for the "doesn't know too much, wants to know more" type like I am. And no, I don't want a fortune cookie, but I thought I'd mention it because it's been pretty good to me lately.

[Antithesis]

Originally Posted by Nabber

Shane to answer your question I as well as Bobble live in Taradale, and to be honest I don't mind it but I don't love it at the same time. I would recommend NE areas like Pineridge or Temple as Dominic stated you can get a little more house and a bigger yard.

I grew up in Rundle, and it was a great community. With the development that recently occured behind Sunridge Mall, it has nearly the same amenities as I do in McKenzie Towne (though we don't have a school) and a short drive anywhere in the city.

My friend is sharing a place in Rundle behind St. Rose school with a guy he works with, and I'm telling you, they wouldn't look out of place in the so-called "nicer" areas of the city.

[Calgary Flames]

Okotoks would be ok if you worked from home...

Coach Hill, Cougar Ridge, West Springs is where it's at. I've lived around here all my life it's so accessible to everything and central to the city. Outside of the 1 year I lived in Somerset... ugh. I'll never live that far from town ever again.

[looooob]

Originally Posted by shane_c

Sometimes a lot more. I've heard that sometimes the price is purposely put on the low side to try and encourage a bidding wore. That to me is pure greed on the part of the seller.

I believe that is what has been happening in Toronto for a while now

part of me agrees its greedy....part of me can't fault a person for trying to make as much money as possible on their biggest (for many people) asset

[Bring_Back_Shantz]

Originally Posted by looooob

I believe that is what has been happening in Toronto for a while now

part of me agrees its greedy....part of me can't fault a person for trying to make as much money as possible on their biggest (for many people) asset

I agree,
I don't see how that is greedy either.
Buying a home can be risky at the best of times, and why shouldn't I be able to get maximum value out of it when I sell it.
Do I owe any potential buyers a favour that could prevent me from making an extra $20000 which is a rather substantial sum? Probably not.
Plain and simple, my house is worth whatever people will pay for it. So if I can get them to pay more, why should I sell it for less?

[shane_c]

I can see your point but when you're the buyer it seems like greed. If you want over 300k for it then why not ask over 300k for it. Instead of saying 275k. But I suppose the buyers can be blamed as well since they get themself into it. Desperate people do desperate things.

Originally Posted by Bring_Back_Shantz

I agree,
I don't see how that is greedy either.
Buying a home can be risky at the best of times, and why shouldn't I be able to get maximum value out of it when I sell it.
Do I owe any potential buyers a favour that could prevent me from making an extra $20000 which is a rather substantial sum? Probably not.
Plain and simple, my house is worth whatever people will pay for it. So if I can get them to pay more, why should I sell it for less?

[Antithesis]

Originally Posted by shane_c

I can see your point but when you're the buyer it seems like greed. If you want over 300k for it then why not ask over 300k for it. Instead of saying 275k. But I suppose the buyers can be blamed as well since they get themself into it. Desperate people do desperate things.

I don't mean this in a backhanded sense, but would you have considered it unfair during the 1980s, when people had to sell their homes for way below their actual value because there were no buyers? It does work both ways, good or bad. Granted, its a lot easier to say from the homeowners' end than from the renters'. I agree with BBS, my house is worth whatever someone will pay for it, not a penny more or less.

[Bobblehead]

Originally Posted by Calgary Flames

Okotoks would be ok if you worked from home...

Coach Hill, Cougar Ridge, West Springs is where it's at. I've lived around here all my life it's so accessible to everything and central to the city. Outside of the 1 year I lived in Somerset... ugh. I'll never live that far from town ever again.

For listing communities that a first time buyer can go into, those are pretty poor suggestions. And I know they are doing construction to fix it, but isn't the rush hour traffic nasty? It was when I lived there 6 years ago (at least I see they built lanes so buses can pull off at their stops now)

[GrrlGoalie33]

I bought in Falconridge 2 years ago. When I first moved in, I wanted to get out before my 5 year mortgage renewal came up. Now that I've been there for a couple of years, I love it.

Buying a home in the older NE areas is no different than buying anywhere else - other than it might take a little bit longer to find the right house, depending on what your tastes are.

When you are in the cul-de-sac I live in, you can't tell at all that you're in Falconridge because everyone takes good care of their houses, lawns etc. In fact, for all of the houses that I drive by on a daily basis, there are maybe 2 that aren't well maintained. But you pretty much get that everywhere.

The NE is also established, so I'm less than 5 minutes from 3 grocery stores like the Taradale folks have already mentioned, from my house there are 3 elementary schools within walking distance, 1 JR high (i think) and 1 high school. Sunridge area is 15 minutes away. Country Hills shopping area is 20 minutes away (taking the back roads).

Plain and simple, I couldn't be happier in the area that I'm in. Sure we've had that guy raping people (but that happened in the really expensive Beltline area in 2004, so it happens everywhere). My wife and I plan on being in that house for a very long time.

[Tron_fdc]

Originally Posted by Bobblehead

For listing communities that a first time buyer can go into, those are pretty poor suggestions. And I know they are doing construction to fix it, but isn't the rush hour traffic nasty? It was when I lived there 6 years ago (at least I see they built lanes so buses can pull off at their stops now)

I moved out of Cougar Ridge last year because of the traffic. I was doing a 30 minute commute that started turning into 45 minutes, and the constant construction and road closures finally got to me. It will be fine once the ring road is in, but when in gods name is that going to happen? I waited 3 years while they "negotiated" with the Tsu tina, held public forums, and finally drew up a road map.

Moving back DT into Bridgeland was the best thing I could have done in the last 5 years. Instead of having one road that 8 new communities all drive on, I have 10 different ways to avoid Glenmore and get home within 25 minutes.

Plus Volos pizza absolutely DESTROYS Andarros.......