Calgary Real Estate predictions?

[1stLand]

Originally Posted by Realtor 1

I was not referring to the very very very small portion of the population who has lost their job and are in a position where the need to sell their home.
I have yet to run into a client who is in a difficult time and my phone is constantly ringing from clientele looking to capitalize on this market.

Vacancy are still unbelievably low and rental rates are high.

LOL. You should look at changing your Plan, otherwise you will accrue overage fees pal.

[Kavvy]

Has anyone noticed a whole lot more open houses this weekend then normal on MLS?

Or am I just price fear mongering?

[1stLand]

Originally Posted by Kavvy

Has anyone noticed a whole lot more open houses this weekend then normal on MLS?

Or am I just price fear mongering?

Are they offering Cookies / Donuts & Refreshments?

[afc wimbledon]

I think real estate is the only market where people seem to take a visceral pleasure in the market tanking and people getting screwed which is weird because it isn't exactly good news for anyone.

[Rerun]

The town of Okotoks has increased the assessment value of my house from $496,500 market value in July 2013 to $536,600 market value in July 2014.

That's 8% in one year. Do you think that's a valid increase or do you think I have reason to complain?

[Kavvy]

Originally Posted by afc wimbledon

I think real estate is the only market where people seem to take a visceral pleasure in the market tanking and people getting screwed which is weird because it isn't exactly good news for anyone.

Unsure if this directed at me due to my previous post, but if so, not really fair comment, as that isn't me.

I can explain why via PM's if you feel necessary to continue this discussion.

[afc wimbledon]

Originally Posted by Kavvy

Unsure if this directed at me due to my previous post, but if so, not really fair comment, as that isn't me.

I can explain why via PM's if you feel necessary to continue this discussion.

Wasn't directed at anyone really, it's not even specific to CP, it's any conversation about real estate, I actually blame the real estate industry for a lot of it, it doesn't matter how obvious it is that the markets over inflated or due for a major correction they keep pushing the 'it's a great time to buy' despite it being obviously not. I suspect that ticks people off.

The odd part is the same people that get seem to be happy the markets correcting are also losing a schtook load of cash, and I include myself in that.

[Righteous1]

I don't know much about the real estate business but..isn't it better for the economy as a whole, if their was a market correction in home prices? (minus the people who got screwed with recent purchases)

More buyers, less renters with lower home prices? (barring layoffs/oil etc)

[tvp2003]

Originally Posted by Rerun

The town of Okotoks has increased the assessment value of my house from $496,500 market value in July 2013 to $536,600 market value in July 2014.

That's 8% in one year. Do you think that's a valid increase or do you think I have reason to complain?

I believe the average increase in Calgary was 10%, so 8% in and of itself doesn't seem unusual.

[pseudoreality]

Originally Posted by Rerun

The town of Okotoks has increased the assessment value of my house from $496,500 market value in July 2013 to $536,600 market value in July 2014.

That's 8% in one year. Do you think that's a valid increase or do you think I have reason to complain?

It doesn't matter that much as typically towns will adjust the mill rate down the average assessment increase and then add whatever tax increase they propose for that year. So as long as everyone's went up around 8%, it won't matter for your tax bill.

[Kavvy]

Interesting article on Calgary's communities by value, momentum (price momentum) and Realtor's grades

http://www.moneysense.ca/property/ca...neighbourhoods


It is missing some notable communities. I think the article title "Calgary’s top neighbourhoods" should be related to value and not necessary quality of life.

Anyway, just some reading material for those interested.

[darklord700]

Originally Posted by Kavvy

It is missing some notable communities. I think the article title "Calgary’s top neighbourhoods" should be related to value and not necessary quality of life.

Anyway, just some reading material for those interested.

How did Silverado get to be one of the top 25?

[polak]

Originally Posted by darklord700

How did Silverado get to be one of the top 25?

Rank: 14


Neighbourhood (Area): Silverado (Southwest)


Average price: $506,769


Average price vs. area: 72.5%


Neighbourhood price vs. metro district: 90.9%


Neighbourhood price vs. greater city area: 89.1%


Value grade: A

It's all based on value vs. the rest of the city.

Silverado has estate homes too.

[darklord700]

Originally Posted by polak

Value grade: A

It's all based on value vs. the rest of the city.

Silverado has estate homes too.

Obviously Silverado houses will be cheaper than those in other areas being so new.

[Kavvy]

Originally Posted by darklord700

Obviously Silverado houses will be cheaper than those in other areas being so new.

So you agree with the study then? You are saying that a newer communities are cheaper but grow in value?

I didn't do the study, or have any sort of emotional connection to it, I am just confused. Did Polak answered your question?

[darklord700]

Originally Posted by Kavvy

So you agree with the study then? You are saying that a newer communities are cheaper but grow in value?

Re-read the article the ranking is looking for - "we looked for growth communities that would minimize the risk of falling prices."

I can't say I agree that newer communities have better growth prospect than older ones. After all, the list is filled with older communities rather than newer ones. I find these kind of rankings are only good for a few chuckles and nothing else.

[polak]

I wonder what makes Silverado retain value more so than a community like Walden?

[Travis Munroe]

Originally Posted by polak

I wonder what makes Silverado retain value more so than a community like Walden?

I don't have an answer however immediate thoughts are
1) it is not next door to a landfill
2) the eventual ring road will be of greater value to residents (granted not by much)

[Red]

Woodbine and Oakland will be affected by the Stoney Trail and Weaselhead development, not sure if that's going to benefit those neighbourhoods.

Interesting that Lake Bonavista Downs is on the list, but Lake Bonavista is not. No LB resident would move to the downs and pretty much all Downs residents would love to go up the hill. Desirable areas keep value.

Odd article to say the least.

[troutman]

Originally Posted by Kavvy

Interesting article on Calgary's communities by value, momentum (price momentum) and Realtor's grades

http://www.moneysense.ca/property/ca...neighbourhoods


It is missing some notable communities. I think the article title "Calgary’s top neighbourhoods" should be related to value and not necessary quality of life.

Anyway, just some reading material for those interested.

Strange survey - no Hillhurst, West Hillhurst, Parkdale?