05-31-2012, 12:45 AM
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#2261
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RealtorŪ
Join Date: Feb 2009
Location: Calgary
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Exactly as Bizaro said, if an offer comes in at or above list price with no conditions...... you are officially forced to sell the property.
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05-31-2012, 08:28 AM
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#2262
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Franchise Player
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Quote:
Originally Posted by Realtor 1
Exactly as Bizaro said, if an offer comes in at or above list price with no conditions...... you are officially forced to sell the property.
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Are you actually forced to sell? My reading of the contract I signed was that I could turn it down and still pay the commission if I preferred, although I wouldn't have done that obviously. (If I had got full list price no conditions for my house I would have been pretty happy!)
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05-31-2012, 08:29 AM
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#2263
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Powerplay Quarterback
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Quote:
Originally Posted by bizaro86
Are you actually forced to sell? My reading of the contract I signed was that I could turn it down and still pay the commission if I preferred, although I wouldn't have done that obviously. (If I had got full list price no conditions for my house I would have been pretty happy!)
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Agreed - that's how I interpreted it.
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05-31-2012, 02:25 PM
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#2264
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Franchise Player
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Quote:
Originally Posted by ranchlandsselling
Agreed - that's how I interpreted it.
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I pulled out my old contract and looked, and it also said the possession had to be the same. So basically a perfect offer.
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05-31-2012, 02:56 PM
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#2265
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Ate 100 Treadmills
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Quote:
Originally Posted by bizaro86
You'd have to have a pretty compliant realtor to get away with that. The standard MLS listing contract used by realtors in Calgary includes a provision that the full commission is due and payable if an unconditional offer at or above list price comes in, even if the seller doesn't take it. That's a pretty big disincentive to do that. Assuming the realtor isn't in on the shadyness, I suppose.
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Happens all the time in Vancouver. A lot of people use their in-laws/cousins as realtors, so the compliance thing becomes a non-issue. In Vancouver it seems as though every other person is a real estate agent.
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05-31-2012, 02:58 PM
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#2266
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Franchise Player
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Quote:
Originally Posted by blankall
Happens all the time in Vancouver. A lot of people use their in-laws/cousins as realtors, so the compliance thing becomes a non-issue. In Vancouver it seems as though every other person is a real estate agent.
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Isn't the economy in Vancouver mainly based on selling real estate to each other at ever-higher prices? Makes sense that would require lots of Realtors
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05-31-2012, 08:54 PM
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#2267
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Franchise Player
Join Date: Mar 2005
Location: Van City - Main St.
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Quote:
Originally Posted by blankall
Happens all the time in Vancouver. A lot of people use their in-laws/cousins as realtors, so the compliance thing becomes a non-issue. In Vancouver it seems as though every other person is a real estate agent.
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We have the same clause in Vancouver and I cant say I've ever seen this happen, let alone "all the time".
I see your point with family realtors, but this doesn't happen often.
Positioning the listing to generate multiple offers on the other hand, that is very common.
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06-05-2012, 01:13 PM
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#2268
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Franchise Player
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Haven't really kept up with the numbers (but Mike F's website is still the great source of information.) I catch the odd article, but apparently inventory is currently at a decade long high in Vancouver and sales a a decade low for this time of year? Saw an article about realtors complaining about people walking away from deposits as well - anecdotal certainly.
Interesting with Calgary doing well and with such cheap cheap money being handed out right now.
http://www.cbc.ca/news/canada/britis...te-wobbly.html
In May, average prices for houses have dropped about $150,000 compared to one year ago. That 12-per-cent drop wiped out two years of price increases.
The reason appears to be that too many more sellers are trying to cash in at the same time. Listings are up by 23 per cent, but fewer are buying: sales are down 24 per cent.
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06-05-2012, 01:28 PM
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#2270
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Franchise Player
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Quote:
Originally Posted by fotze
So what that means is your house has gone up $80k since February, time to buy that Range Rover you've been eyeing with that newfound equity in your house.
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Well, you can get 80% of that for now right? 65% later?
Man, go do that NOW!!!
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06-05-2012, 02:24 PM
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#2271
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Lifetime Suspension
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Quote:
Originally Posted by fotze
For single family homes, May had the next highest average price of $502,065 after the peak in July 07 at $505,920.
Spiking right now after hitting $421,075 in Feb this year.
So what that means is your house has gone up $80k since February, time to buy that Range Rover you've been eyeing with that newfound equity in your house.
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All I see is price reductions in Calgary. Must be the new Index they use that shows RE being up.
It would be pretty stupid to use the equity to buy a fancy SUV. Smart people leverage their home to invest in the markets. TSX is doing great lately. FB anyone?
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06-05-2012, 02:31 PM
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#2272
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My face is a bum!
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I heard there is a groupon for facebook stocks right now....
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The Following 3 Users Say Thank You to Bill Bumface For This Useful Post:
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06-05-2012, 02:34 PM
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#2273
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Ate 100 Treadmills
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Quote:
Originally Posted by Red
All I see is price reductions in Calgary. Must be the new Index they use that shows RE being up.
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Could reflect a change in the quality of product too. If you have a few high end condo developments hit the market, it can make it seem as though average price is going up, when in reality it's just a bunch of expensive luxury units driving up the average price.
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06-05-2012, 02:36 PM
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#2274
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First Line Centre
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Quote:
Originally Posted by Red
All I see is price reductions in Calgary. Must be the new Index they use that shows RE being up.
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Just curious, where are you seeing price reductions?
To say Calgary's housing market is inflated and over priced due to record low and unsustainable interest rates and is on the verge of collapsing is probably fair. But I reckon claiming Calgary house prices are falling despite evidence showing otherwise is a little doomer, no?
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06-05-2012, 03:03 PM
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#2275
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Lifetime Suspension
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Quote:
Originally Posted by kevman
Just curious, where are you seeing price reductions?
To say Calgary's housing market is inflated and over priced due to record low and unsustainable interest rates and is on the verge of collapsing is probably fair. But I reckon claiming Calgary house prices are falling despite evidence showing otherwise is a little doomer, no?
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Parkland. I've been watching that are for a while and most houses are reduced or re-listed.
Not to mention comparing the city assessments from the last few years as inaccurate as they may be they show a trend.
Last edited by Red; 06-05-2012 at 03:19 PM.
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06-05-2012, 05:33 PM
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#2276
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Powerplay Quarterback
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Quote:
Originally Posted by troutman
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Don't have time to look just now - but wasn't May a record for luxary home sales? Could really skew the average?
Hopefully - I'm about 12 months from a potential move/purchase.
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06-27-2012, 06:45 PM
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#2277
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Self-Ban
Join Date: Mar 2006
Location: Calgary
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07-05-2012, 11:36 AM
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#2278
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Lifetime Suspension
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07-05-2012, 11:40 AM
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#2279
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Scoring Winger
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The article suggests Calgary and Edmonton are at different points in their housing cycle and will not see a drop.
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07-05-2012, 11:46 AM
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#2280
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Lifetime Suspension
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Quote:
Originally Posted by bradster57
The article suggests Calgary and Edmonton are at different points in their housing cycle and will not see a drop.
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It's different here 
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