One thing I’ve learned during my time in the real estate business is that many of my clients have very similar questions and concerns. As always, I do my very best to answer honestly based on my experience.
Here are some of the questions I receive from clients and my responses.

How is the real estate market?

This can be a difficult question to answer. We have historical data for the real estate industry in terms of supply and demand and can use this to imagine what might happen in the near future. But there are so many influences on the market and some of them are not easy to predict.
Think about inflation, interest rates, international instability and Canadians moving to Alberta from other parts of the country, for instance. These and other issues can have a bearing on real estate in Calgary that cannot necessarily be foreseen.

When is a good time to buy?

For many of the individuals who enlist my services, this is a fundamental question. Essentially, people want to know whether it’s a good time to buy or sell. My bottom-line advice to my clients is that this is a personal decision and any time they are ready to buy or sell is a good time for them. This means if they’re in a position to buy, qualify for a mortgage and have good credit, the timing is right.  

I was told to wait and see if the market will crash, what is your take on it?

This question is hard to answer definitively. Certainly, mortgage rates have climbed recently and there has been weaker economic growth. Average home prices in many parts of the country have declined somewhat over the last year and this is now bottoming out with a boost in home sales and price increases forecast for 2024.
One thing to remember is that Calgary’s real estate market has remained resilient so, if anything, prices are already bouncing back and climbing fairly fast.

What would you recommend as the best rental properties and locations?

In my option, virtually any rental property in any area of the city is a good investment. Of course, the property has to be the type that you’re interested in, whether it’s a duplex, apartment building or something else.
The residential rental market in Calgary is quite strong and there are not enough leased accommodations available, especially given the influx of new residents from other provinces. Therefore, it comes down to what you can afford to purchase as a rental property.
And, if you’re just getting into the landlord business, it’s critical to consider whether you’re interested in providing short-term or longer-term rentals. While the former scenario can be more lucrative, it involves more work.

How long should it take to sell my home?

Selling a home typically takes two to four months. However, the answer to this question depends on several things. Most importantly is the current demand for properties. Right now, there are not enough homes for sale in Calgary and in such a seller’s market, listings are moving quite quickly. It’s not uncommon to have a number of good offers shortly after a home is listed.
Of course, other factors that come in to play include the location of the house, it’s condition and any particular features that it has that may make it more or less desirable. Having said that, the best indication of how long a property is expected to be on the market is how quickly similar homes are selling.

Are real estate prices negotiable?

I advise my clients that real estate prices are negotiable but making an offer to a seller requires some thought and strategy. This is where working closely with a real estate agent in invaluable. The knowledge and experience that I bring to the table can assist my clients to prepare a reasonable offer that will meet their needs and have a higher chance of being accepted by the seller.

In closing

I trust that I have provided some valuable information for you to consider. If there are any other questions that you would like to ask, please reach out to me without hesitation.