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Old 06-03-2018, 10:47 PM   #3241
Travis Munroe
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The first 4 months of the year were very quiet. Then it seemed people were coming out but not ready to buy. The last 3 weeks have been a completely different story. I put together 7 sales, 3 currently conditionally sold and 2 offers being negotiated right now.

I have been speaking with colleagues who have also noticed a pickup and the only explanation I have is a late spring market. New inventory has also been interesting to watch as it hasn't taken off as it usually does. Inventory as a whole is high but much of this product has been sitting for a very long time and will continue to do so.
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Old 06-03-2018, 10:49 PM   #3242
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Location always important.

I see homes in the NW can move quickly, and receive multiple offers.

The market must have been dragged down by the economy, new mortgage stress test, and an unusally long winter. Perhaps the pipeline news will restore confidence.
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Old 06-04-2018, 09:18 AM   #3243
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It's been a real struggle trying to sell my rental. Lots of showings but just lowball offers.
Rental market is heating up for sure. Worth it get a new tenant and defer the sale for another year.
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Old 06-04-2018, 01:39 PM   #3244
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Rental market is heating up for sure. Worth it get a new tenant and defer the sale for another year.
This has been suggested to me (by my realtor). I've seriously considered it but honestly I don't want to be a landlord anymore. I feel I can make more return on my equity investment elsewhere. However I might just have to rent it out for another year.
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Old 06-04-2018, 01:57 PM   #3245
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This has been suggested to me (by my realtor). I've seriously considered it but honestly I don't want to be a landlord anymore. I feel I can make more return on my equity investment elsewhere. However I might just have to rent it out for another year.
The Bank of Canada is expected to raise interest rates by another 50 basis points before the year is over. So there is no guarantee the Calgary real estate market will be better next year.
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Old 06-04-2018, 02:49 PM   #3246
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The Bank of Canada is expected to raise interest rates by another 50 basis points before the year is over. So there is no guarantee the Calgary real estate market will be better next year.
No. But he would have another big chunk of his mortgage paid down.
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Old 06-08-2018, 12:22 PM   #3247
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“Calgary real estate market rough for buyers, sellers”
http://www.660news.com/2018/06/08/ca...uyers-sellers/
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Old 06-08-2018, 12:38 PM   #3248
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I sold my rental condo at a loss (bought 3.5 years ago) Given the information at hand, I was lucky to get the price that I did. It sold off the first offer that came in on the first day. After that, zero showings, and very little listing viewings.

I was renting it for a small loss as well.


With rising interest rates and the downward pressure on the condo market, the timeline to try an recoup my losses was much longer than I wanted to be a landlord. The uncertainty of rental vacancy, rental term etc. I just decided it was time to pull the pin. I perhaps could have eeked out some more but to me it wasn't worth it.

It was in a good location too. Briar Hill.

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Old 06-08-2018, 01:01 PM   #3249
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I've got more the one foreclosure now and even trying to sell them at a substantial loss is difficult. Odd market.
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Old 06-08-2018, 01:53 PM   #3250
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“Calgary real estate market rough for buyers, sellers”
http://www.660news.com/2018/06/08/ca...uyers-sellers/
I don't really see how this is rough for both buyers and sellers though. It's a buyers market I would say, which makes it harder for sellers. I bought and sold in the past couple months and we had competing offers in both cases though, so it's not exactly all doom and gloom if you're priced right and motivated.
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Old 06-08-2018, 02:19 PM   #3251
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I hope prices keep on crashing. Looking to buy shortly.
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Old 06-08-2018, 02:24 PM   #3252
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I hope prices keep on crashing. Looking to buy shortly.
Screw that. I've got mine, let the prices fly high!
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Old 06-08-2018, 03:31 PM   #3253
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Co-worker is moving. They failed to sell their house the first time it was listed so reduced the price the second time around and took the first offer. It was the only offer after two months and was less than what they had hoped to get. They found a nice place that had been sitting for quite some time, really low balled their offer and it was accepted with no counter.

It's not a great market out there right now.
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Old 06-09-2018, 12:15 PM   #3254
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It’s purely anecdotal, but while there are more listings in my neighbourhood, the prices seem to be higher. Obviously that’s not going to continue if houses aren’t selling, and of course people are likely selling for less than list, but it seems to indicate less doom and gloom to me.
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Old 06-09-2018, 12:19 PM   #3255
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I don't really see how this is rough for both buyers and sellers though. It's a buyers market I would say, which makes it harder for sellers. I bought and sold in the past couple months and we had competing offers in both cases though, so it's not exactly all doom and gloom if you're priced right and motivated.
Qualifying rules make it tough on buyers as the prices haven't come down to reflect this, I'd imagine.
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Old 08-15-2018, 11:43 AM   #3256
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https://www.cbc.ca/news/business/new...omes-1.4785782

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The housing market had been#open to investors worldwide, but the government on Wednesday passed legislation that allows only New Zealand residents to purchase#homes.
Canada and the US are quickly becoming the only first world countries that do not have federal regulation limiting foreign buyers.

New Zealand went with an outright ban, with only 2 exceptions.
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Old 08-15-2018, 11:51 AM   #3257
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Quote:
Originally Posted by Slava View Post
It’s purely anecdotal, but while there are more listings in my neighbourhood, the prices seem to be higher. Obviously that’s not going to continue if houses aren’t selling, and of course people are likely selling for less than list, but it seems to indicate less doom and gloom to me.

My anecdotal sense is that a higher number of transactions are closing in August, compared to what we have seen all year. August is historically our busiest month, but this could also be a sign that sale volumes are up may may continue. CREB reported June sales were slow.
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Old 10-13-2018, 03:28 PM   #3258
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Any updates on what people are seeing as trends? (I'm guessing it remains a buyers market...)

Haven't looked at real estate for a while - is the best website still realtor.ca? I never did like it's usability, wondering if anyone has found anything better to utilize.

Any specific sites for condos/townhouses other than realtor.ca?
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Old 10-13-2018, 10:19 PM   #3259
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Any updates on what people are seeing as trends? (I'm guessing it remains a buyers market...)

Haven't looked at real estate for a while - is the best website still realtor.ca? I never did like it's usability, wondering if anyone has found anything better to utilize.

Any specific sites for condos/townhouses other than realtor.ca?

I actually liked Travis' site for looking at listings. Unfortunately it seems to have changed a lot though. It used to have a very good selection of filters like square footage, or being able to exclude certain building types, like say duplexes.


Travis - Is this still available in some form?


https://web.archive.org/web/20131206...om/search.html

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Old 10-14-2018, 12:36 AM   #3260
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Any updates on what people are seeing as trends? (I'm guessing it remains a buyers market...)
It's a buyer's market, but only if you're interested in buying crap. I've been looking for a new house for nearly 6 months now, and have been keeping an eye on things. Essentially, the market is full of garbage. The end of every month is marked by a flurry of expired listings in my inbox, but nothing replaces them. New listings have all but evaporated. It's only the crap houses being relisted over and over. They update the outside pictures, but you can still see the snow out the windows on the inside pictures.

Actual sales are rare, and are often for well under the list price. I've seen houses go for 100k under. I have a co-worker who bought a new place months ago and still hasn't managed to sell his old place. I have friends who did manage to sell their house early in the year, have a fist full of cash and a desire to buy, and instead have been renting for months unable to locate a new better place to purchase for their growing family.

I'm watching the prices constantly being reduced in my neighbourhood. I'm going to be lucky to break even on my house that I've been in for nearly a decade, if I ever get to the point where I need to sell. My agent's updates show a continually increasing average days on the market time month after month.

Opinion seems to be that a combination of poor economy and new mortgage rules are to blame. People have a hard time qualifying for starter homes now, and it's cascading upwards. No one can buy at the bottom now, which means the people looking to upgrade are stalled unable to sell, which stalls the price range they want to move in to, and so on.

So like I said, it's a buyers market, yet there's nothing to buy.
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