QUOTE (Charly @ Sep 4 2009, 10:44 AM)
Hello
I am ususally unable to attend the conferences that REIN holds. To the point, what is REIN thinking about the future of Calgary real estate market over the next few years? Is there a best buying or selling time between now until 2015? I have a small inner city character house, I am considering selling but will be in Calgary over the next 2.5 to 3 years. Any best time to pull the chute? I bought the house in 2004 before the market took off. I want to maximize my profitability.
Thanks
buy when prices are low .. sell when they are higher ! 2009 is lower than 2008 .. so time to buy ? 2010 will liekly be somewhat higher than 2009 .. but not by much .. 2011 will likely be quite a bit higher than 2010 due to recovering economy, oil prices, gas prices and Obama induced inflation.
Of course it could be lower with a new NDP/Liberal coalition and a new carbon tax on oilsands .. highly unlikely . but certainly possible !
so you should have bought in 1911 or 1932 or 1968 or 1998 or 2001 .. and could have sold for more anytime after 2001 ..
so yes selling in 2.5 to 3 years is probably better than today .. but even better would be 2018 or 2035 or 2053 !!
If you sell you pay taxes, you pay realtors, you may have to pay a mortgage payout penalty .. and now you have to re-deploy the cash somewhere else, which involves time .. more realtor fees, legal fees, new mortgage application .. so please define "maximize profitability" .. I assume you mean net cash, after tax ROI on teh tax invested .. or do you mean cash-flow + equity divided over time and money invested ? What $s/h for your time ? $100/h ? $500 ? $23 ?
there is no specific prediction by REIN stating that in 2010 prices will be X % higher than 2009 and Y % in 2011 and Z % in 2012 .. generally inflation is the average expected gain PLUS any in-migration induced demand plus any area improvements as some areas grow faster than others !
You house might drop in value due to property neglect, a new half-way house across the street or a deteriorating sidewalk ..
more thoughts here
http://myreinspace.com/public_forums/Real_Estate_Discussion/62-12860-64563-Appreciation_Calgary.html#64563
