Calgary Real Estate predictions?

[Sylvanfan]

Yeah, I'm in an awful spot right now. Lost my job in BC, so out of desparation I had to take one in Edmonton to keep supporting the family.

Problem is with 2 dogs, 2 cats, and a kid I can not rent anything in the Edmonton area. No one will rent to me, they don't care that I actually pay my rent and will try to maintain the property better than most prospective tenants. Thats how far land lords have their head up their arse. They'd rather rent to a crackhead making $30,000 a year who doesn't own a pet.

So unless I get rid of the animals, which will result in a divorce which I don't really want....I have to buy a place.

But you guys all say the market is due to crash and render houses worth $0.....FML!!!

Probably still buy though...as long as I have a job I can make the payments and if I stick around for 20 years I should be okay.

[Potty]

Originally Posted by cmyden

What's with the difference in total listings from end of 2008 to beginning of 2009? Seems like that graph might be a little messed up. End of 2009 to beginning of 2010 is a little off too, but not as bad.

[albertGQ]

If I was a landlord and able to choose my tenant, I would not want one with 2 cats or 2 dogs, let alone someone with 2 cats and 2 dogs

[Sylvanfan]

Originally Posted by albertGQ

If I was a landlord and able to choose my tenant, I would not want one with 2 cats or 2 dogs, let alone someone with 2 cats and 2 dogs

See why discount that person off the bat? I'm willing to give an extra deposit, let you come and inspect the house monthly, hire a professional cleaning service when I do leave. Fart I can pay 12 months of rent up front right now.

But no....you all have your assumptions about people with pets and the mess it leaves and won't even check references on that person.

Peeves me off that I get judged like that. When I've sold houses in the past a comment I get is that people can't believe we have pets given how clean our house is.

But yet...you judge me as a bad person to rent to without even knowing me. That really bothers me. I bet as a pet owner, I'm a hell of a lot more responsible than a lot of these other people out there blowing their pay cheques on Friday night booze binges and making excuses for why the rent is 6 weeks in arrears and claiming the ciggarette marks on the carpet aren't theirs.

[cmyden]

Originally Posted by Potty

What's with the difference in total listings from end of 2008 to beginning of 2009? Seems like that graph might be a little messed up. End of 2009 to beginning of 2010 is a little off too, but not as bad.

Yeah that's weird, I imagine his graphs are automatically generated from a database. According to his site the data is provided by the Real Estate Board of Greater Vancouver. It's about the only site I've seen for Vancouver that seems to give recent stats data similar to the 2 we have here in Calgary. I'll shoot Agent Will an e-mail and ask what's up with that graph.

[chemgear]

Originally Posted by cmyden

Yeah that's weird, I imagine his graphs are automatically generated from a database. According to his site the data is provided by the Real Estate Board of Greater Vancouver. It's about the only site I've seen for Vancouver that seems to give recent stats data similar to the 2 we have here in Calgary. I'll shoot Agent Will an e-mail and ask what's up with that graph.

That would be awesome, I've always wondered about that.

This is sheer guessing, but I wonder if the uber low interest rates in 2009 propped things up to disturb the "trend" from 2006-7 to now on those graphs. With the exception of the 2009 year, it almost looks like a possible trend multi-year. Or I shouldn't be walking around with a ruler in my hand.

Sylvan, I'm sorry to hear about the difficulties. I am thinking that their reaction to pets isn't a reflection of who they think YOU are, but are perhaps worried about the damage pets can do in isolation. BTW, I know I come off as a cynic (about the market) on the forums but I am not an expert. Heck, I'm sure I know less about real estate than most peeps here and for all I know, housing could totally swing the other way again. Regardless, I hope things work out/get better for you!

[cmyden]

Originally Posted by Potty

What's with the difference in total listings from end of 2008 to beginning of 2009? Seems like that graph might be a little messed up. End of 2009 to beginning of 2010 is a little off too, but not as bad.

Received a reply from the owner of the site:

"Yes, there really were that many listings that were pulled off. Realtors are a funny breed who tend to end contracts at the end of a month (hence a big drop off every month at the end) and especially at the end of a year. Many go for 3 or 6 month contracts so we often have a big drop on July 1st from those listings in January relists/new lists and Spring boom listings."

[Bill Bumface]

Originally Posted by albertGQ

If I was a landlord and able to choose my tenant, I would not want one with 2 cats or 2 dogs, let alone someone with 2 cats and 2 dogs

I am a land lord, and I find usually someone responsible enough to take care of that many pets is worth it over the people who don't have their life together at all and you cross your fingers every month that the rent cheque will clear so you can pay your mortgage.

[woob]

Originally Posted by Shazam

I thought you were sensible, but you're dangerously close to full whargarbble.

[AFireInside]

Originally Posted by Sylvanfan

See why discount that person off the bat? I'm willing to give an extra deposit, let you come and inspect the house monthly, hire a professional cleaning service when I do leave. Fart I can pay 12 months of rent up front right now.

But no....you all have your assumptions about people with pets and the mess it leaves and won't even check references on that person.

Peeves me off that I get judged like that. When I've sold houses in the past a comment I get is that people can't believe we have pets given how clean our house is.

But yet...you judge me as a bad person to rent to without even knowing me. That really bothers me. I bet as a pet owner, I'm a hell of a lot more responsible than a lot of these other people out there blowing their pay cheques on Friday night booze binges and making excuses for why the rent is 6 weeks in arrears and claiming the ciggarette marks on the carpet aren't theirs.

I agree 100%. I have two cats and a dog, we are very responsible with our pets. You would not know we have pets in our place, in our two years here there has been no damage done.

A responsible person is a responsible person, whether they have pets or not. As a landlord I would judge the person based on references etc. If they were tall good, I wouldn't care if they had a pet, of course I would take an extra deposit of a couple hundred bucks just to be safe.

[Clarkey]

Any predictions on the rate increase coming up?

[cmyden]

Originally Posted by Clarkey

Any predictions on the rate increase coming up?

http://www.canadianmortgagetrends.co...ng-to-275.html

Every last one of Canada's primary securities dealers is now predicting a 25 basis point hike this month, according to a Reuters poll on Friday. Not only that, but every single dealer also forecasts another rate increase in September.

If the overnight rate does rise to 0.75% on July 20, prime rate will likely move to 2.75%. The last time prime was above 2.50% was February 2009.

While economists and bankers usually all have their own theories/predictions that usually turn out to be as accurate as predicting a coin toss, when it comes to predicting rate hikes their track record is pretty good.

[Winsor_Pilates]

Originally Posted by fotze

Now that I have paid off my mortgage and want to buy a rec property, my viewpoint has miraculously turned 180 degrees. The worlds going to crap and I'm going to get a deal if I just wait.

Where are you looking to buy?
I sold in Penticton last year and the Okanagan was absolutely dead. I'm pretty sure it still is, might be some deals to be had out there.

[Winsor_Pilates]

I've been offered the sales manager role on a new condo development coming in Calgary this Fall.
Not looking like the market is very strong, but I might take it anyways just to come home for a bit. Also, it's a good developer, location and hopefully pricing so might sell well. Might even get my AB realtors license while I'm at it.

Won't say much about the development now, until I've confirmed things but I'll be sure to let CP now when it's official incase anyone is in the market, or just curious in general.

[mykalberta]

Originally Posted by Winsor_Pilates

I've been offered the sales manager role on a new condo development coming in Calgary this Fall.
Not looking like the market is very strong, but I might take it anyways just to come home for a bit. Also, it's a good developer, location and hopefully pricing so might sell well. Might even get my AB realtors license while I'm at it.

Won't say much about the development now, until I've confirmed things but I'll be sure to let CP now when it's official incase anyone is in the market, or just curious in general.

Hopefully its not pointE

[Winsor_Pilates]

Originally Posted by mykalberta

Hopefully its not pointE

I wouldn't touch anything Point of View with a 60 story tower. I'm careful who I agree to sell for, not worth losing your reputation and steering buyers wrong in the long run, for a quick buck.

[chemgear]

Originally Posted by Winsor_Pilates

I wouldn't touch anything Point of View with a 60 story tower. I'm careful who I agree to sell for, not worth losing your reputation and steering buyers wrong in the long run, for a quick buck.

I salute you sir!

[woob]

Originally Posted by fotze

Everything looks more expensive than Calgary real estate in Kelowna/Penticton, would like closer to Calgary. Like the wineries, hate the traffic and 6 hour drive.

Probably Windermere area.

There's a place by our family cabin up for sale. Lake front, double lot, can be sub-divided. It's only 2.9mil. Act now!

[chemgear]

Originally Posted by Sylvanfan

But you guys all say the market is due to crash and render houses worth $0.....FML!!!

Hopefully prices don't go to zero (or we'll have many more problems than just housing.)

But housing prices in Calgary are already down nearly $20,000 from just last month. Guessing prices probably reach even closer to 5% down when July finally ends. Inventory is still massive, sales numbers continue to wither and there is still lots more room to increase interest rates. Personally I am seeing a lot more downside than upside. Actually, I'm having a hard time seeing any upside to be honest.

The 5% in a month pace is probably not good - first time homebuyers are almost instantly underwater. Realtor/moving fees aside if they had to sell for some reason down the road.

(BTW, natural gas prices have been down more than 10% the whole time it was mentioned previously in this thread. Inventory there is also massive.)

[amorak]

I am looking for a realtor to help us find a home in the Aspen / Wentworth / Cougar Ridge(maybe) area.

Please let me know if you have a good realtor who's intimately familiar with that area.

Thanks!