Can prices go much higher for housing?

Forum about Fort McMurray real estate, hosing pricing and homeownership

Re: Can prices go much higher for housing?

-1.3% drop in year over year price
-Average prices have been trending downward on a month-over-month basis since the
summer of 2012. (8 months)

CHBA (Canadian Home Builders' Association) report for February 2013.

http://www.chbaalberta.ca/uploads/files ... Update.pdf

How do you guys feel about this?
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Re: Can prices go much higher for housing?

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Re: Can prices go much higher for housing?

Unread postby Maggieb » Fri Mar 08, 2013 9:52 pm

I was getting emails on houses for Eagle Ridge from Remax and over the last 5, 6 months, I have noticed many shoiwing up at least twice with a new price. It is a buyers market right now. Personally, im glad I am not looking at selling right now. The prices will go up again,but it's a cycle.
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Re: Can prices go much higher for housing?

Unread postby akouznet » Mon Jun 17, 2013 8:14 pm

Just wanted to share this with you guys. In a past couple of weeks I looked at a few new and newer houses. Builders and owners are willing to negotiate prices. On a 800,000 house builder was willing to go down 20,000. Lock in your interest rates now and see what happens in the near future. There are alot of houses on the market and everybody has to stay competitive. Good luck
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Re: Can prices go much higher for housing?

Unread postby Tropics » Tue Jun 18, 2013 5:16 pm

There is a lot more room to move then $20,000 on most $800,000 houses in Fort Mac atm. Are you a real estate trying to sell houses by chance?
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Re: Can prices go much higher for housing?

Unread postby 128386 » Sat Jun 22, 2013 9:57 am

^^^lol , no I'm not a realtor, I'm just an average Joe trying to purchase a home
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Re: Can prices go much higher for housing?

Unread postby Tropics » Wed Jun 26, 2013 10:31 am

justsomeguy wrote:3 Things will drive house prices in FMM

1 - the price of oil....drives growth.
2 . Interest rates....determines if those with $800k mortgage can afford to re-new their 2% varaible at say 6% and pay 3x the mortgage! Will drive an exodus if it happens.
3 . Enviro Politics....self explanatory

We will not be seriously impacted by a national swing either way....we can be in a total national collapse but if oil is $150 prices here will still climb.


There are more things that drive prices then just those in this special little town.

4 . The timely release of provincial land to the RMWB to assure a steady supply of housing. One of the main reasons that housing prices have skyrocketed is because there is an undersupply of housing in this city, which is why most houses are more akin to multi-family condos in truth.

5 . A continuation of poor building quality (on average), building to the bare minimum of code, and many houses and condos that show cleaar signs of shoddy construction and/or are in major states of disrepair from the former tentants/owners. This is a BIG problem in Fort McMurray, many of the condos, townhouses, and even single family homes on the market have major issues and require vast sums of money to repair them, what this effectively does is geatly reduce the number of properties for sale that are actually in good condition and those properties suddenly demand a premium because an actual well built house in good condition in Fort McMurray is the exception, not the norm.
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