Real estate in Calgary - another bubble?

[OutOfTheCube]

Originally Posted by CroFlames

How's the airport noise there? Any worse than other neighborhoods close to the airport?

It was fine, I can’t say the last few years I ever really even noticed. I found the road noise from Stoney to be worse

[Red]

IMO Home Inspections are terrible value. They are not allowed to dig deep enough.

My inspector flagged potentially hazardous pot lights. He said that some of these require a can and some don't, but he can't tell which ones they actually are. Asked him to go up the attic but they are not allowed to lift the insulation to check. LOL.

Loved the pictures of a cracks in the sidewalk. Or the chipped paint on the garage door outside trim. Or the note on a broken garburator which was already disclosed anyways. Thanks tips.

One room colder than the other, well, get an hvac guy to give a better advice. Or wait for the sun to move.

Hot water? Run the tap, use a fancy thermometer. Voila, hot water is hot enough. Could be more or less hot depending on what the water heater is set to. Mind blowing information.

Moisture? Ya, get a heat map meter on amazon. Most of the time you won't need one anyways.

Furnace, water tank ? They can't tell anything of value. Check filter, little dirty. FURNACE SERVICE REQUIRED !!! Scary stuff when the wife reads it.
They can only tell you how old and what their expected life is. You can google that. Common sense stuff.

Foundation cracks ? Sure, anyone can see one from outside. But if the basement is developed, you are SOL.

Sub panel in the garage. Why? Can you tell me more about it? Advantage, disadvantage? - Sorry, you need to consult an electrician.


And if the inspector misses something major, well, they have a waiver. Not responsible.
Now please give me your $700.00

I've bought 4 houses. Only used an inspector once, on the 3rd house. Never again.

[Slava]

Originally Posted by Mazrim

Isn't this a good thing? Making the largest purchase of your life based on one visit to a house seems crazy to me. The second visit is the fresh eyes/reality of the situation and gives you a new perspective.

So walk through the house again before you make an offer?

[CliffFletcher]

Originally Posted by rotten42

Interesting site that gives you some history on houses you may be interested in....things like being a grow-op or if someone was killed there.



https://www.housecreep.com/directory/ca/alberta/calgary

I would happily buy a house someone was murdered in if it meant it was cheaper because squeamish buyers were scared away.

[Mazrim]

Originally Posted by Slava

So walk through the house again before you make an offer?

Hopefully the market doesn't get too hot so that you can get some time to do that.

Originally Posted by CliffFletcher

I would happily buy a house someone was murdered in if it meant it was cheaper because squeamish buyers were scared away.

My wife lived near the house in Medicine Hat where the teenage girl killed her entire family. It stayed empty for a couple years and then was sold at fire sale rates. Whoever owns it now has taken good care of it.

[Slava]

Originally Posted by CliffFletcher

I would happily buy a house someone was murdered in if it meant it was cheaper because squeamish buyers were scared away.

I had an offer on a house once where they wanted confirmation that no one had died or been killed in the home.

[Wormius]

Originally Posted by jwslam

Listed my $400-$500k range starter home in a burb community.

24hrs online; 17 showings booked. Looks like I won't make it to the weekend.
The first guy that saw it came in $20k over list but only gave me 4 hours to accept; would've considered it he came in zero conditions

Are you still in Hidden Valley? I wonder if we should start more seriously considering a move.

[DoubleF]

Originally Posted by GGG

Then you shouldn’t have put in an offer with a non-refundable deposit for cold feet. If you are willing to give up the deposit that’s fine but to use the inspection to try to get out the deal because you no longer like it is unethical.

But doesn't the opposite hold true? Many of you seem to keep commenting as if you assume all sellers are honest and ethical individuals and any prospective buyer getting an inspection done is an unethical schmuck. That's not necessarily a cold feet situation, that's a straight up avoidance of being sold a bill of goods.

Unlike most of you who seem to be on par capability wise with the best of the best home inspectors out there, the average other buyer isn't knowledgeable of much of this stuff. I know a bunch, but that's because the inspectors I used were fantastic and explained to me how a home should be upkept, when what to keep in the back of my mind as potential repairs/timeline of those repairs once I own a home. You guys don't need an inspector to know what to look for cool. But there's tons of prospective buyers who I bet wouldn't know which direction to point a screw driver.

I've walked into a house before and it was absolute crap. The seller realtor was trying to brush it all off as the natural aging and wearing down of a house and a coat of paint could freshen it up and my realtor who has extensive experience and used to be an inspector/property developer as well pointed out where they had tried to hide damage in the past when I was green and gullible just to teach me a few things about homes in general. That's the superficial stuff that the inspector would point out. Stuff you think is common sense, isn't so common.

"Oh, the seller realtor says the leaks from the hot water tank can be fixed for a few hundred bucks." vs "Inspector says, "You don't repair stuff like that, that's an old tank that needs pure replacement."

That's the super low bar stuff that the inspectors are there for and there are absolute liars of realtors out there.

Originally Posted by Red

IMO Home Inspections are terrible value. They are not allowed to dig deep enough.

My inspector flagged potentially hazardous pot lights. He said that some of these require a can and some don't, but he can't tell which ones they actually are. Asked him to go up the attic but they are not allowed to lift the insulation to check. LOL.

Loved the pictures of a cracks in the sidewalk. Or the chipped paint on the garage door outside trim. Or the note on a broken garburator which was already disclosed anyways. Thanks tips.

One room colder than the other, well, get an hvac guy to give a better advice. Or wait for the sun to move.

Hot water? Run the tap, use a fancy thermometer. Voila, hot water is hot enough. Could be more or less hot depending on what the water heater is set to. Mind blowing information.

Moisture? Ya, get a heat map meter on amazon. Most of the time you won't need one anyways.

Furnace, water tank ? They can't tell anything of value. Check filter, little dirty. FURNACE SERVICE REQUIRED !!! Scary stuff when the wife reads it.
They can only tell you how old and what their expected life is. You can google that. Common sense stuff.

Foundation cracks ? Sure, anyone can see one from outside. But if the basement is developed, you are SOL.

Sub panel in the garage. Why? Can you tell me more about it? Advantage, disadvantage? - Sorry, you need to consult an electrician.


And if the inspector misses something major, well, they have a waiver. Not responsible.
Now please give me your $700.00

I've bought 4 houses. Only used an inspector once, on the 3rd house. Never again.

I paid $520 and to me I thought the guy was fantastic. He was skilled in all types of trades in a past life so he was excellent and he was even amazing at explaining in a way that even I and my wife kinda understood. He said he wasn't allowed to dig deep, but he did (with small cameras etc.) and basically if he saw something behind something, he'd see if he could see evidence outside where he was superficially allowed to inspect (basically trace backwards) to include in report.

He would show me things that I'd think were superficial and he'd explain whether they were bigger parts of other issues or nothing. He'd even advise on questions we can ask the realtor to disclose and confirm before finalizing (ie: Water damage, things in violation of code that are OK to leave as is, but in future to be aware that it would need to be brought to code if extensive work done to it, electrical issues such as non grounded plugs, whether he agreed on the urgency of the sellers declarations of original roof/window/HVAC, trivial things like spalling that we shouldn't be alarmed at, trees that he thought we should prune back a ton or remove in general, spouts we could consider diverting to avoid water going back towards the property, what to know and be concerned/not concerned about for grey pipe, WETT inspections, what wasn't to code but trivial etc.) not necessarily as negotiation, but as potential protection if the seller misrepresents the longevity of a thing.

For a newbie like me, that was great to know about the place. But I can see why those who are handymen or have gone through the walkthrough with the inspection a few times already consider it dumb.

However, I never expected to re-negotiate the price based on a few grand worth of trivial things. I would only discuss potentially splitting the difference on things over $5K on things that the seller had not disclosed/misrepresented. I didn't re-negotiate as it was all up front by the seller anyways and they were disclosing in good faith, so I would negotiate in good faith too.

The inspector explained things to me worth addressing and discussing in the final negotiations with the seller (basically nothing and things that were nickel and dimes that should be my responsibility anyways). He explained things I should address immediately after possession. He explained things that he agreed with the seller on regarding the urgency of addressing and explain what he thought the ballpark cost of those items would be if they suddenly became more urgent that expected. That's important to me.

[GGG]

I wasn’t saying you shouldn’t be able to take issue with something you find during the home inspection. I took issue with the idea of using using the home inspection to decide if you still liked the place.

I agree if there are material undisclosed issues found then that is very fair.

[troutman]

Originally Posted by Slava

I had an offer on a house once where they wanted confirmation that no one had died or been killed in the home.

"Stigmatized" Properties:

https://www.reca.ca/consumers/proper...operty-stigma/

The seller or the seller’s representative is not legally required to answer questions about stigma; however, they can’t lie. If they choose to answer your questions about stigma, they must do so honestly.

[Slava]

Originally Posted by troutman

"Stigmatized" Properties:

https://www.reca.ca/consumers/proper...operty-stigma/

It was kind of interesting. I mean we weren't the original owners of the property, so I could only say that we didn't know of anyone who had died there. I don't think it would dissuade me, but for some people and some cultures it's an absolute deal-breaker.

[you&me]

Originally Posted by Slava

It was kind of interesting. I mean we weren't the original owners of the property, so I could only say that we didn't know of anyone who had died there. I don't think it would dissuade me, but for some people and some cultures it's an absolute deal-breaker.

Just a normal death is a deal-breaker? That I'd be fine with. Like if someone's grandma kicks the bucket in her sleep... no big deal.

Murder? That would be different... It would have to be something I really (really) wanted to get over that.

[InglewoodFan]

Originally Posted by CliffFletcher

I would happily buy a house someone was murdered in if it meant it was cheaper because squeamish buyers were scared away.

Buddy of mine did that. He wanted to move his folks to Calgary and have them live in a condo near by for childcare, closer to grandkids, etc. Found a place where the owner got into an armed standoff with CPS that ended poorly for him. Got a great deal on it, the evidence was for the most part cleaned up. Fresh coat of paint and away he went.

[bizaro86]

Originally Posted by you&me

Just a normal death is a deal-breaker? That I'd be fine with. Like if someone's grandma kicks the bucket in her sleep... no big deal.

Murder? That would be different... It would have to be something I really (really) wanted to get over that.

I lost out on a condo where an old guy had died. Apparently he lived alone and didn't have much contact with others, so they didn't find him until the place started to smell. The property ended up foreclosed, and the bank had the carpet ripped up and everything deodorized.

They did disclose the death, and the fact there was no carpet was obvious. The price was very cheap. But obviously it didn't bother everyone, because it actually sold before I could get my offer in.

[DownhillGoat]

Originally Posted by bizaro86

I lost out on a condo where an old guy had died. Apparently he lived alone and didn't have much contact with others, so they didn't find him until the place started to smell. The property ended up foreclosed, and the bank had the carpet ripped up and everything deodorized.

They did disclose the death, and the fact there was no carpet was obvious. The price was very cheap. But obviously it didn't bother everyone, because it actually sold before I could get my offer in.

I never got the whole death thing. Like, suicide/murder, maybe. Manson house, or murder house from the Simpsons, perhaps.

If I could get any of those at a fraction of the price of surrounding homes, I'd take it. I've actually put offers in on two.

But really, someone could have a sex dungeon in the bedroom and with a fresh coat of paint you'd never know. And honestly if you did would it matter?

Caveat: I've been told I'm dead inside and have no empathy.

[CliffFletcher]

People in Europe live in 150+ year old buildings where all kinds of awful #### has gone down. Wars, riots, murders, pogroms. Who knows how many people have died in any give house in Paris, Munich, or Madrid? They seem to manage without being afflicted by restless spirits.

[DownhillGoat]

Originally Posted by CliffFletcher

People in Europe live in 150+ year old buildings where all kinds of awful #### has gone down. Wars, riots, murders, pogroms. Who knows how many people have died in any give house in Paris, Munich, or Madrid? They seem to manage without being afflicted by restless spirits.

Agreed! But I had to look up "pogrom".

[blankall]

Originally Posted by DownhillGoat

I never got the whole death thing. Like, suicide/murder, maybe. Manson house, or murder house from the Simpsons, perhaps.

If I could get any of those at a fraction of the price of surrounding homes, I'd take it. I've actually put offers in on two.

But really, someone could have a sex dungeon in the bedroom and with a fresh coat of paint you'd never know. And honestly if you did would it matter?

Caveat: I've been told I'm dead inside and have no empathy.

I'd be more concerned about sex dungeon. The nature and distribution of bodily fluids would be an issue. That stuff will soak into the walls.

[bizaro86]

Originally Posted by blankall

I'd be more concerned about sex dungeon. The nature and distribution of bodily fluids would be an issue. That stuff will soak into the walls.

I've looked at a lot of distressed real estate. The worst is always the person with too many cats.

[blankall]

Originally Posted by bizaro86

I've looked at a lot of distressed real estate. The worst is always the person with too many cats.

Poorly taken care of animals is a massive mess. You're talking about the need to potentially strip the building down to it's concrete. When you have animals urinated into the walls and floors, it's game over.