Sunday, September 28, 2008

Real Estate For The Well To Do Is On The Slide

Experts involved in the Calgary Real Estate market say that the selling of high end homes is down drastically. The market downturn in Calgary and area does not have professionals spooked though, they say conditions are still strong.

"Cautious, price-sensitive purchasers are now weighing their options, waiting as long as six months for the right property to come along," the report says. "Properties that are priced well will sell, while those that are priced too high will linger."
Although people who buy an upscale house generally have deeper pockets than those buying an average home, factors that influence their decision are largely the same, said Lowell Martens, a realtor with Re/Max Mountain View.

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James Sanson said...

I have been watching or at least trying to watch the real estate market in Canada. I know the market was booming, so would it not be wise to sale their and buy in the USA for five years and then come back and buy in Canada? What are your thoughts? said...

2009 is going to be worse compared to 2008. Being the biggest trading partner of US, US recession is going to hit us hard

Paul Johnston Real Estate said...

It isn't surprising that sales at the higher end have fallen in Calgary, as they have in most of the major cities in North America,

Same is true here in Toronto, although in many instances it's because the inventory simply isn't there right now.

Bernice Dubon in Calgary said...

On the other end of the spectrum, First Time home buyers are finally getting the chance to become home owners. I'm a realtor with Royal LePage Solutions in Calgary, Alberta. Here in Calgary, more and more, I have to tell buyers that I'm working with, "Sorry, that home sold last night."
Just a month or two ago, I would have advised my buyers to wait a week... the price will drop by $10,000.
Now my advice to clients is, if you like it, put in an offer. If you wait for a price drop, you'll be facing competition for the home you're interested in.

Bernice Dubon,
Royal LePage Solutions

apartment valencia said...

interesting to read this now, halfway through the year. The market took a slide but now everything looks like it might be coming back again. 2010 will be the year of massive recovery.