Dear Realtor,

You will always make money as long as people buy/sell/go broke...Of course you will want people to buy and sell - more turnover more money -that's your business.

Please let us know your take on how much the Calgary market will drop in next 10 months.

Thanks...

Calgary avg price is still above 10% over last year as predicted by the gurus. By Next Dec it will be 12.5 % up according to the gurus. Some areas will be high as 20%. I am still buying and by Dec it is best time to buy.

Here is lot of stuff to buy.
Remember Las Vegas RE show in last 2 yrs if not then you can see in Calgary.
Forget about existing tons of condo available for sale.
Here is long lists of new condos are available or will be available soon.

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Distressed condo project list

The News - Broadcast Hill
2 year refurbishment and sales office is still open
http://www.liveatnews.com" rel="nofollow">LINK

The Vue - Condo Condo
Bonus $10,000 furniture and electronics
http://www.condo-condo.com/thevue/" rel="nofollow">LINK

The Sienna - Sokol Developments
Finished construction, 5 of 8 units still unsold, prices dropped $66,000 already, one unit sold before price reduction and is trying to be flipped and cannot rent or sell.
http://www.sokoldevelopments.com" rel="nofollow">LINK



105 more reasons why condo prices will go down:

Adora,Akoya,Alberta Boots I,Alberta Boots II,Arriva 42,Arriva I,Arriva III,Assured on 14th,Aura,Castello,Centuria on the Park,Chinatown Condo,Churchill Estates,City Centre II,Colours,CPA Lands II,Cristal,,Destiny,Douglas Glen Condo Village I,Douglas Glen Condo Village II,Douglas Glen Condo Village III,Douglas Glen Condo Village IV,Eden I,Eden II,Encore,Five West II,Gateway Beltline,Gateway Southcentre,Giffels at Stampede Station,Grand Haras,Grand Royal,,Grosvenor on 15th,Grosvenor on 5th,Grosvenor on 5th,Habitat for Humanity,Highbury I,Highbury II,Highbury III,Horizon Housing Society,Hotel Arts East,International House,Kahanoff Expansion I,Kahanoff Expansion II,Kai Towers I,Kai Towers II,Keynote II
Keynote III,LaCaille on 4th,LaCaille on 8th,Lake Placid Eau ,laire,LaRive,Lausanne,LeBeau,London at Heritage I,London at Heritage II,London at Heritage III,London at Heritage IV,Luna
Midtown Towers I,Midtown Towers II,Mission ,Crossing,Mode,Montana,Montreux,National Condos,Nova,Nuera I,Nuera II,Oscar,,Ovation,Prado,Princeton 3 I,Princeton 3 II,Princeton 3 III,Princeton 3 IV,Providence Bankview,Providence Kensington,Renoir Suites,Riverfront Pointe I,Riverfront Pointe II,Riverfront Pointe III,Riverfront Pointe IV,Riverside Quays,SAIT Residence,Sienna,The Seed,Triangle Lands
Tweed,Union Square I,Union Square II,Urbanview by the River,Varsity Landing I,Varsity Landing II,Varsity Landing III,Verana,Vetro,Viva,Vox,WAM Chinook III,WAM Chinook IV,Waterfront I,Waterfront II
Waterfront III,Waterfront IV,Xenex

Calgary prices did not support conventional real estate principles in the first place. For any healthy market there should be some balance between buyers and sellers market. The markets in Alberta had been in sellers' favour since last one year or more. The average price in Alberta went up by almost 31% in 2006 than a year before. It is projected to rise by almost 24% this year, after all this plunge. The average price in 2008 will still be higher by at least 6% of 2007 price (source CREA August 2007 report).

Any economist or real estate expert can tell you that long-term growth trends are always followed by a period of low or no growth.

If you are waiting for a dooms day crash, it is not going to happen for next one year, in my opinion.

The Canadian fiscal policies are making it possible for more buyers to get into housing market by extending amortization periods and keeping a tab on interest rates. This helps increase affordability. Not that I am a big fan of longer amortization periods which only make banks more richer, but this a fact.

As per Canadian economy forecast (Autumn 2007):

U.S. household spending will slow drastically over the coming months and into 2008, adding to the woes of Canadian manufacturers and exporters. The United States will avoid recession thanks to recovering business investment and excellent growth in exports.

Lower interest rates south of the border have shored up confidence in the U.S. and global economies, and provided the boost needed to bring the Canadian dollar to parity.

High commodity prices and a booming domestic economy are spurring incomes and profits in Canada. The boom continues to lift government revenues well beyond expectations.

Housing markets in Canada remain tight, as exemplified by the continued sharp rise in home prices.

The Bank of Canada remains concerned over inflationary pressures, but the weaker U.S. economy and the surge in the loonie are expected to sideline any further rate hikes until late 2008.

-----------------------------------------------------------------
Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/

Quote:

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Originally posted by rahul_singh23
105 more reasons why condo prices will go down:

Adora,Akoya,Alberta Boots I,Alberta Boots II,Arriva 42,Arriva I,Arriva III,Assured on 14th,Aura,Castello,Centuria on the Park,Chinatown Condo,Churchill Estates,City Centre II,Colours,CPA Lands II,Cristal,,Destiny,Douglas Glen Condo Village I,Douglas Glen Condo Village II,Douglas Glen Condo Village III,Douglas Glen Condo Village IV,Eden I,Eden II,Encore,Five West II,Gateway Beltline,Gateway Southcentre,Giffels at Stampede Station,Grand Haras,Grand Royal,,Grosvenor on 15th,Grosvenor on 5th,Grosvenor on 5th,Habitat for Humanity,Highbury I,Highbury II,Highbury III,Horizon Housing Society,Hotel Arts East,International House,Kahanoff Expansion I,Kahanoff Expansion II,Kai Towers I,Kai Towers II,Keynote II
Keynote III,LaCaille on 4th,LaCaille on 8th,Lake Placid Eau ,laire,LaRive,Lausanne,LeBeau,London at Heritage I,London at Heritage II,London at Heritage III,London at Heritage IV,Luna
Midtown Towers I,Midtown Towers II,Mission ,Crossing,Mode,Montana,Montreux,National Condos,Nova,Nuera I,Nuera II,Oscar,,Ovation,Prado,Princeton 3 I,Princeton 3 II,Princeton 3 III,Princeton 3 IV,Providence Bankview,Providence Kensington,Renoir Suites,Riverfront Pointe I,Riverfront Pointe II,Riverfront Pointe III,Riverfront Pointe IV,Riverside Quays,SAIT Residence,Sienna,The Seed,Triangle Lands
Tweed,Union Square I,Union Square II,Urbanview by the River,Varsity Landing I,Varsity Landing II,Varsity Landing III,Verana,Vetro,Viva,Vox,WAM Chinook III,WAM Chinook IV,Waterfront I,Waterfront II
Waterfront III,Waterfront IV,Xenex

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The quality content and purpose of the CD real estate section is being lost by wrong information, advice, cynicism posted by some member/s, repetitively.

Can we avoid misinforming ourselves and visitors at CD seeking honest unbiased opinions? And discuss issues that are important.

Regards,

-----------------------------------------------------------------
Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/

Has anyone looked at MLS lately. It's a bazaar. The postings reak of desperation: PRICED TO SELL. How long before the banks start foreclosing?"


I look at them every so often and yes, there are allot of "price reduced" ads and also, many of them indicate either vacant, totally renovated or both. That generally tells me that a flipper is trying to get rid of his investment property. I've also noticed that there are allot more houses falling below 299K than I have seen in ages. Below are the headlines I cut from only 2 pages of MLS listings in Calgary. They keep reducing but nobody is buying. I personally think what drove allot of the sales in the past were the flippers buying from the flippers. Now that the Flippers are getting scared out of the market there are very few buyers left. Or allot of people like the ones on this board who say there is no Bloody way they would pay anywhere close to what people are asking for their houses.


"PRICE REDUCED!! BEAUTIFUL, SPACIOUS, CLEAN 2 STOREY DUPLEX..."

"Price Reduced! Wow! What a great starter home with lots of recent professional renovations! Renos include new countertops, new paint, new hardwood throughout the house, new tile, and the list goes on!"


"Huge price reduction... $46,000.00! The owner wants it SOLD!! SMART Buyer's note: This is not a fixer upper... Just move in! "

"**PRICE REDUCED FOR QUICK SALE MUST SEE!** Welcome to your new home where just about everything has been renovated very recently and is almost brand new inside"

"Price to sell!!!. Reduce by $20,000! Newly Renovated, fully developed 4 level split home..."

"PRICE REDUCED $5000 OCT. 12/2007. Rare find! This 4-level split has been remodeled with: New carpet & lino floors, a new counter top, some new..."

"Just reduced! Here's an affordable home that you can feel cozy and comforatble in...."

"SELLER IS VERY MOTIVATED...PRICE CHANGE AGAIN...This beautifully built 2 year old HOME has an open concept lay-out. With 3 Bedroom upstairs....."


"PRICE REDUCED!!!! This home has been redone inside wtih warm neutral colors, New carpet, New Lino, ...."

"*NEW PRICE* BEAUTIFUL BRIGHT HOME, GOOD SIZE LIVING ROOM, SPACIOUS KITCHEN AND DINNING, BEDROOMS HAVE WALK-IN CLOSETS,....."