Been watching MLS

[79ford]

Considering alberta oil and gas companies have trimmed about 20 billion from capex vs last years spending i imagine 20 billion in less spending will show up loud and clear some where.

Q1 will probably mean further cuts as companies tally up a full quarter of 50$ oil and 35$ bitumin.

Q4 2014 oil averaged 82$ per barrel and budgets were already getting hacked and slashed. Q1 will likely see major red ink and more jobs cut as oil stagnates.

Lots of companies were running at a loss before oil dropped now it will probably wipe them out as they face piles of debt and no way to raise money besides pummeling their annihlated share prices with stock offerings.

[spirit4u]

I took a look at MLS, seems like there are a lot of listings??? Where would everyone one be moving to?

[oyster_777]

Ive got a place on the market. Was listed April 4 2015. Ill let you know what happens. Indicators so far seem to be positive.

[2011laramie]

got a place in cold lake for sale. been up since the new year, and had 1 viewing.

[CNP]

First day of listing in Morinville.........................11 viewings. Does that sound slow Nobody's looking?

Cold Lake and Ft McMurray..................maybe a different story.

[avb3]

My SIL and daughter listed and sold their place in Penhold in about a month. Only had one showing. Got close to what they expected.

[oyster_777]

Sold the house in 10 days within 2% of asking price. Had 2 open houses and 1/2 dozen walk throughs. Get the check May 7.

[okemo]

Personally I wanna see things keep going south.

Young couple trying to get started in Alberta with a house in this inflated market sucks and I am not living in a apartment building! Prices falling is the only way I can see a home in my future...

That and my landlord is trying to sell my current house, and it's hard enough to find a half decent rental.

Its been on the market since beginning of march ~9 showings and nothing yet. Fingers crossed!

[ArtG]

Originally Posted by mbaigent

Personally I wanna see things keep going south.

Young couple trying to get started in Alberta with a house in this inflated market sucks and I am not living in a apartment building! Prices falling is the only way I can see a home in my future...

That and my landlord is trying to sell my current house, and it's hard enough to find a half decent rental.

Its been on the market since beginning of march ~9 showings and nothing yet. Fingers crossed!

When I first started looking I wanted a house too but looking at it realistically we decided to go with a condo since any small house starts at about high 300k.
Its not a house but about at least we are paying into OUR mortgage and no one else. You think prices are high here look at some of the souse in Ontario. at least here we dont pay 15% taxes on new homes......

it all depends on what you have to offer and for how much. I just took my condo off the market cause some one listed a place for 15k sell then market value and every one else followed suite. I'm not in a rush to take a lose.

[Jamie]

Perhaps just a slight bump in the market, but I tried to show 4 houses on Sunday, all were available on Saturday morning. 3 sold before noon on Sunday.
3 offers on one of our listings last week
Sold a house this weekend that wasn't even on the market yet
Writing a offer right now on a house that's not on the market.

I feel like things are changing.

Jamie

[MountainTi]

Originally Posted by spirt4u

I took a look at MLS, seems like there are a lot of listings??? Where would everyone one be moving?

East?

[ESOXangler]

Originally Posted by mbaigent

Personally I wanna see things keep going south.

Young couple trying to get started in Alberta with a house in this inflated market sucks and I am not living in a apartment building! Prices falling is the only way I can see a home in my future...

That and my landlord is trying to sell my current house, and it's hard enough to find a half decent rental.

Its been on the market since beginning of march ~9 showings and nothing yet. Fingers crossed!

So you hope the market dives so you can get a deal? How bout you get out there and earn it? That's what the rest of us did being young family's and all! Worked hard, saved and earn a mortgage. Instead of hoping for ill against others concentrate on where you are failing in life. One time I couldn't afford a house so I reassessed my life position and made lots of changes!

I hope you're rental gets sold and the market jumps up more! Just kidding I don't wish any wrong against you!

[zcd]

We bought this time last year in Edmonton, and people were swarming new listings. By the time we wrote up an offer on a house listed that morning, there were already multiple others on the house. My real estate agent is also my workmate and apparently its a bit slower this year, but prices seem to still be on the rise however

[avb3]

Just to bring a different perspective to the discussion, even though there were economic warning signs including negative GDP, real estate prices rose in the USA before they crashed.

I know different circumstances, country and situation, but educational.

[oyster_777]

Originally Posted by spirt4u

I took a look at MLS, seems like there are a lot of listings??? Where would everyone one be moving to?

Realtor told me that a lot of BC investors who bought in 2006-2008 are now purging their properties. Lots of places in the $600k range and up that are not moving. Anything below $600k is.

[Ricktye]

There are traditionally a lot of listings and buyers in the spring. Nothing new there; it's after the spring rush that we might see the reality set in; Oh, oh, I got laid off and can't afford to keep this "mansion" Let's sell it.... Oh, oh, nobody is buying at this price, we'll have to lower it to be competative... And around and around....

Realtors of course going to try and keep saying prices are high, the more they sell it for the more they make. But reality will likely eventually set in..

Just my opinion, but I don't have that darn crystal ball!

[Jamie]

Originally Posted by Ricktye

There are traditionally a lot of listings and buyers in the spring. Nothing new there; it's after the spring rush that we might see the reality set in; Oh, oh, I got laid off and can't afford to keep this "mansion" Let's sell it.... Oh, oh, nobody is buying at this price, we'll have to lower it to be competative... And around and around....

Realtors of course going to try and keep saying prices are high, the more they sell it for the more they make. But reality will likely eventually set in..

Just my opinion, but I don't have that darn crystal ball!

Ricktye.
True about the time of year
NOT true about the compensation.
A Hundred Thousand dollar drop in price equates to a drop of $1,500 in the selling commision. Better to keep selling than worry about what you are taking home. Its never been about the $$$. Its about making sure people are taken care of.

Yet another sign in the change came up today. Damn hard to get a Home inspection. These guys are getting booked out by 2 weeks. As well, the survey company is falling behind.

Lets see what the next few weeks bring us.

Jamie

[HeavyD111]

The poster who wishes the prices would drop knows people have been retarded and overpaid for a chunk of wood and glass. Same as 75k trucks, just because you can get a loan for it doesnt mean a person should buy it. It you guys are comfortable paying 600k for a cookie cutter place, have at it, as that general mentality will prob never allow the prices to drop anyway. People love to spend, and in places like Calgary where it seems eveyone wants to be, oil prices wont wont the housing. Theres lots of people there not in oil, unlike the north