Calgary Real Estate predictions? - Page 151 - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

OMG!WTF! · 02-16-2016, 09:57 AM

I think trades are going to become popular again. I did two trades during the last down turn and they worked really well on both ends. Just an option to keep your eye on at least.

polak · 02-16-2016, 10:49 AM

You gotta think that if there's any sort of lag between Oil recovering and the Dollar going back up then we could see some stupid prices once again in Calgary? Or are people going to be hesitant?

Fuzz · 02-16-2016, 10:59 AM

Hesitant? HA! People have the memory of a goldfish.

bizaro86 · 02-16-2016, 02:28 PM

Quote:

Originally Posted by OMG!WTF!

I think trades are going to become popular again. I did two trades during the last down turn and they worked really well on both ends. Just an option to keep your eye on at least.

Maybe I'm too early. I've offered to trade a downtown condo plus cash on a couple of places in the inner city north (Mount Pleasant, Capitol Hill, etc) and haven't gotten any bites yet.

I'd do my house in instead, but that seems less likely.

darklord700 · 02-16-2016, 02:41 PM

Quote:

Originally Posted by bizaro86

Maybe I'm too early. I've offered to trade a downtown condo plus cash on a couple of places in the inner city north (Mount Pleasant, Capitol Hill, etc) and haven't gotten any bites yet.

I'd do my house in Hawkwood instead, but that seems less likely.

Who offered you the trade, was that a realtor?

tvp2003 · 02-16-2016, 04:44 PM

Quote:

Originally Posted by darklord700

In the past, sellers were not receptive to conditional offers. But I think now they have no choice but to take them.

Yeah, as a seller I don't think I would go that route unless I really didn't have any other option. I guess it's just another sign of the market right now...

photon · 02-16-2016, 04:55 PM

Quote:

Originally Posted by OMG!WTF!

I think trades are going to become popular again. I did two trades during the last down turn and they worked really well on both ends. Just an option to keep your eye on at least.

I've never ever thought of trading a house before. Tell me more!

Like is this trading to try and get something that'll be better value when things turn around?

Or is this just trading to change one's situation (like if one wanted to switch between a house/condo, or inner city/burbs)?

Like I think my house is too big and I wouldn't mind a bungalow, trade with a couple that's going into family mode and wants a bigger house? That might be interesting.

bizaro86 · 02-16-2016, 05:05 PM

Quote:

Originally Posted by darklord700

Who offered you the trade, was that a realtor?

I offered the trade to sellers of a house listed on mls. In both cases the house was largish and had been on the market for awhile. One needed work.

I figured the sellers might be downsizing, or figure that a bunch of cash plus a condo was worth considering. Maybe they could use a rental or just sell the smaller property and get most of the cash out.

I'd be very curious to hear how trades have worked for others, as I'd like to upgrade size/location and think a trade would be ideal.

Canehdianman · 02-16-2016, 05:22 PM

I can't see any advantage to doing that?

Fuzz · 02-16-2016, 06:10 PM

Save paying the agent extortion fee? Err, commission.

Canehdianman · 02-16-2016, 06:31 PM

Quote:

Originally Posted by Fuzz

Save paying the agent extortion fee? Err, commission.

The decision to trade instead on buy a house normally is independent from the choice to use a realtor.

Fuzz · 02-16-2016, 06:46 PM

Well ya, but trading saves 2 potential fees. You asked what the benefit was. That would be a big one.

pseudoreality · 02-16-2016, 07:17 PM

Quote:

Originally Posted by Canehdianman

The decision to trade instead on buy a house normally is independent from the choice to use a realtor.

The seller of the house I'm buying asked me to list him as an exclusion on my contract with the realtor I'm listing my place with. That way if it doesn't sell by the condition deadline he can just buy it, keep it listed with the same realtor and I don't have to worry about paying commission.

Canehdianman · 02-18-2016, 10:37 AM

Another week of no apparent sales on any of the houses I'm watching in the 700k-850k range.

I have to imagine that that the numbers for February are going to be brutal. The only houses that seem to be moving are <500k.

Weitz · 02-18-2016, 10:45 AM

Quote:

Originally Posted by Canehdianman

Another week of no apparent sales on any of the houses I'm watching in the 700k-850k range.

I have to imagine that that the numbers for February are going to be brutal. The only houses that seem to be moving are >500k.

Nah, the Realtors will skew the numbers to make it look good some how.

OMG!WTF! · 02-18-2016, 11:13 AM

Quote:

Originally Posted by photon

I've never ever thought of trading a house before. Tell me more!

Like is this trading to try and get something that'll be better value when things turn around?

Or is this just trading to change one's situation (like if one wanted to switch between a house/condo, or inner city/burbs)?

Like I think my house is too big and I wouldn't mind a bungalow, trade with a couple that's going into family mode and wants a bigger house? That might be interesting.

I think when the market slows down you get people wanting to sell and buy something else but they are advised against buying until they sell because it's a slow market and the risk of owning two properties is very high. So you get lots of people who feel stuck, unable to sell and consequently unable to buy. This creates situations where you say "I want to buy one of these ten houses" and you just approach the realtor with the question..."Instead of selling, would your buyers want the house I own as a trade plus or minus cash?" Whenever it works it's a total win for everyone. Gets rid of two hard to sell properties. My buddy is just negotiating a trade from a house in the SE to an acerage near Priddis. The right seat for each butt.

Red · 02-18-2016, 11:20 AM

Quote:

Originally Posted by Canehdianman

Another week of no apparent sales on any of the houses I'm watching in the 700k-850k range.

I have to imagine that that the numbers for February are going to be brutal. The only houses that seem to be moving are >500k.

Statistically this is the worst Feb in 20 years. Of course the current numbers on CREB don't seem bad, but that's because they only compare to last year which was brutal as well.

http://calgaryrealestatereview.com/

Canehdianman · 02-18-2016, 11:49 AM

Interesting that sales are up in the luxury range (more than $2 mil). I would have thought they would be dropping like the 750-850k range.

polak · 02-18-2016, 11:55 AM

Quote:

Originally Posted by Canehdianman

Another week of no apparent sales on any of the houses I'm watching in the 700k-850k range.

I have to imagine that that the numbers for February are going to be brutal. The only houses that seem to be moving are >500k.

You mean <500?

chemgear · 02-18-2016, 11:56 AM

Quote:

Originally Posted by Canehdianman

Interesting that sales are up in the luxury range (more than $2 mil). I would have thought they would be dropping like the 750-850k range.

The luxury market runs by it's own tune. Pretty sure that same guy (on that website) had an analysis a few years back about how it doesn't really track the overall market trend. Which make sense really, the people playing in that end of the pool aren't as affected as your average Joe most of the time.