Here are all the sales for suited property in NW and SW Calgary for the last 90 days. They are linked to PDF docs as they wouldn`t paste in here with proper formatting.
Average list price of $413,116.
Average sale price of $400,164.
Sale price to list price ratio of 97.01%
I`ve noticed prices coming up in the last month or so, especially for suited property with appropriate zoning. Not a lot of great supply out there so if some of you are on the fence about selling now is as good a time as we`ve seen in the last year.
I have a r-C2 lot, suited house, in cambrian heights. I would sell but without a creative solution like assuming or VTB, etc - The equity lost for the last year would not be made up I dont believe. Never know though I suppose.
Matt
QUOTE (RedlineBrett @ Oct 22 2009, 12:02 PM) Hey guys,
Here are all the sales for suited property in NW and SW Calgary for the last 90 days. They are linked to PDF docs as they wouldn`t paste in here with proper formatting.
Average list price of $413,116.
Average sale price of $400,164.
Sale price to list price ratio of 97.01%
I`ve noticed prices coming up in the last month or so, especially for suited property with appropriate zoning. Not a lot of great supply out there so if some of you are on the fence about selling now is as good a time as we`ve seen in the last year.
QUOTE (Millions @ Oct 23 2009, 08:30 PM) I have a r-C2 lot, suited house, in cambrian heights. I would sell but without a creative solution like assuming or VTB, etc - The equity lost for the last year would not be made up I dont believe. Never know though I suppose.
Matt
Well you can put creative financing terms in the listing to try and attract a buyer. Buyers without a lot of cash love terms like that.
If you`re under water then you have to look at it another way... like if you did take a loss is there a better buying opportunity out there or a better way for you to put that money to work.
Cambrian is a great area. What are your rents like?
QUOTE (RedlineBrett @ Oct 24 2009, 01:51 PM) Well you can put creative financing terms in the listing to try and attract a buyer. Buyers without a lot of cash love terms like that.
If you`re under water then you have to look at it another way... like if you did take a loss is there a better buying opportunity out there or a better way for you to put that money to work.
Cambrian is a great area. What are your rents like?
Well due to a short leave of my last tenants, I moved in. haha. So I am getting $1000 (including utils) for the bsmt, and $1200 for 2 roommates on my floor. The garage is vacant as of now. So not to bad while rates are low!
I have a condo in killarney as well, and although a great neighborhood, rents are killing me right now!
QUOTE (Millions @ Oct 31 2009, 12:02 PM) Well due to a short leave of my last tenants, I moved in. haha. So I am getting $1000 (including utils) for the bsmt, and $1200 for 2 roommates on my floor. The garage is vacant as of now. So not to bad while rates are low!
I have a condo in killarney as well, and although a great neighborhood, rents are killing me right now!
So cheap...hah
Actually I have been trying to sell the condo creatively on kijiji but get mostly flakes. I`m thinking of listing it with a friend whos a realor and see what the MLS can do. Ofcourse the price would have to be a tad higher for commissions though
QUOTE (Millions @ Oct 31 2009, 11:04 AM) Actually I have been trying to sell the condo creatively on kijiji but get mostly flakes. I`m thinking of listing it with a friend whos a realor and see what the MLS can do. Ofcourse the price would have to be a tad higher for commissions though
Matt
I dont know if I would say Im under water, but rented out, its losing $300/mth.....paying of the principle but still. not good haha.
Especially if condo or house prices continue the drop, even with the expansion of the LRT 2 blocks away.
Best to sell all I think......any opinions on markets?
QUOTE (Millions @ Nov 2 2009, 10:32 PM) I dont know if I would say Im under water, but rented out, its losing $300/mth.....paying of the principle but still. not good haha.
Especially if condo or house prices continue the drop, even with the expansion of the LRT 2 blocks away.
Best to sell all I think......any opinions on markets?
I see another decline when rates move up..
The LRT isn`t going anywhere near Cambrian heights. However if you are two blocks away from a new LRT why on earth would you sell?? One of REIN`s top acquisition recommendations is to get property within 800m of a c-train station.
Looks like you need to do damage control. The easiest way to find out the best path is to see how much money you would lose if you sold tomorrow and contrast that against how many months of negative cash flow that is... and whether or not you feel the property will be worth more over that timeframe.
Also while it might not be apparent on your bottom line if you are paying off more than $300 of principle on each mortgage payment you aren`t really losing any money.
