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Slow Housing Market ??

Slow Housing Market ??

Old Apr 3rd 2008, 11:38 pm
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Default Slow Housing Market ??

Hi,

We have made the decision to move back to the UK. Been here in Alberta, Canada for 10 months and although we have enjoyed our time here, we as a family all want to go 'Home'....

The problem is we have had our house on the market now since mid Feb and still not had any offers. We've dropped the price twice, and are getting quite a few viewings with good feedback eg, nice, clean well priced etc but still no offers.

Our realtor has assured us that the market is slow at this time of year. Is anyone else having trouble selling their houses?

We are in Okotoks, South of Calgary.

Thanks......
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Old Apr 4th 2008, 12:07 am
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Default Re: Slow Housing Market ??

Originally Posted by lee58uk View Post
Hi,

We have made the decision to move back to the UK. Been here in Alberta, Canada for 10 months and although we have enjoyed our time here, we as a family all want to go 'Home'....

The problem is we have had our house on the market now since mid Feb and still not had any offers. We've dropped the price twice, and are getting quite a few viewings with good feedback eg, nice, clean well priced etc but still no offers.

Our realtor has assured us that the market is slow at this time of year. Is anyone else having trouble selling their houses?

We are in Okotoks, South of Calgary.

Thanks......
I remember you coming over just after me, shame it hasn't worked out Lee.
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Old Apr 4th 2008, 12:11 am
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Default Re: Slow Housing Market ??

Can't really comment on the housing market - although I do think things must be a little slower than when we arrived last year - some of the boards outside the houses have been up a long while

One thing to consider (or worry about) - I think it was on one of Elaine B's threads - if you leave the country before selling your house and are no longer deemed a resident - there seems to be some kind of tax withheld on your house (which you'll get back at some much later point) - sorry, didn't read it properly or fully understand, but have a look at Elaine's thread .....

Sorry to hear you are heading back - you're on almost the same timescale as us - and Mrs Miggins (!) - but very best wishes to all the family
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Old Apr 4th 2008, 2:48 pm
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Default Re: Slow Housing Market ??

Originally Posted by lee58uk View Post
Hi,

We have made the decision to move back to the UK. Been here in Alberta, Canada for 10 months and although we have enjoyed our time here, we as a family all want to go 'Home'....

The problem is we have had our house on the market now since mid Feb and still not had any offers. We've dropped the price twice, and are getting quite a few viewings with good feedback eg, nice, clean well priced etc but still no offers.

Our realtor has assured us that the market is slow at this time of year. Is anyone else having trouble selling their houses?

We are in Okotoks, South of Calgary.

Thanks......
You managed longer than us!

We sold out property just after we left, but at a loss.

An yes, please be very careful to get all paperwork in place before you leave, we have a fight on our hands currently as we are deemed to be non-residents!

Good luck
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Old Apr 4th 2008, 6:00 pm
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Default Re: Slow Housing Market ??

From the reports that I have been listening too, the markets in the UK and US are suffering through the general credit crunch and the fears of recession.

Apparently in the UK there is supposed to have been a 10% correction.

To be honest I don't understand the housing market at all.

Good luck though.
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Old Apr 4th 2008, 6:04 pm
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Default Re: Slow Housing Market ??

Originally Posted by Dave_Was View Post
.........To be honest I don't understand the housing market at all.

Good luck though.
It's actually very simple: a house is worth what someone else is willing and able to pay for it
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Old Apr 4th 2008, 10:02 pm
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Default Re: Slow Housing Market ??

Thanks for all the useful advice, obviously it is priced right as this is always commented on in the feedback from viewings....

Unfortunately we are not in a position to be able to return to the UK until our house here is sold, so I guess we will just have to wait it out..

Cheers
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Old Apr 4th 2008, 10:37 pm
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Default Re: Slow Housing Market ??

Originally Posted by lee58uk View Post
Thanks for all the useful advice, obviously it is priced right as this is always commented on in the feedback from viewings....

Unfortunately we are not in a position to be able to return to the UK until our house here is sold, so I guess we will just have to wait it out..

Cheers
If nobody wants to buy it..its to expensive..simple as that I'm afraid.
We starting to have big reduction around here and we live in outer London.
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Old Apr 4th 2008, 11:11 pm
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Default Re: Slow Housing Market ??

The market position here in CANADA is different.

Thanks
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Old Apr 5th 2008, 3:41 pm
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Default Re: Slow Housing Market ??

Originally Posted by lee58uk View Post
The market position here in CANADA is different.

Thanks
Oookeeey
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Old Apr 5th 2008, 4:38 pm
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Default Re: Slow Housing Market ??

Hi, Sorry to hear things haven't worked out for you. I see that your in Alberta, so things may be different there, as I understand there might be a cooling off period with the house prices. Of course the other thing to remember is that the Canadian house market does not really get going until the spring. Who wants to move in the winter? We put our house on the market last year (rather late into the summer Aug/Sept), and we received 3 offers quite quickly, all of these were around the $360 mark. We had it listed for $399,900 having purchased it 3 years earlier for $260. To be honest we were indifferent as to whether it sold or not, as our heads were like sheds as they say and we only listed it for 3 months. The realtor we listed with last year, telephoned just last week to enquire as to putting it back on the market.
This is typically the time that realtors start listing after the winter months. It appears one of the 'offers' is still is very keen on our house. For the moment we have decided not to re-list for various reasons. I guess what I'm saying is the market is only just warming up. If your house is comparable with the market value for that area and type of property, and from what you say it seems to be, then you have a choice when the offers come in, to either sell or hold out. I hope things move along for you shortly, now that spring is finally in the air. Bright glorious sunshine here today in Ontario. Good Luck
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Old Apr 5th 2008, 4:48 pm
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Default Re: Slow Housing Market ??

Thanks Sunshine Girl,

That seems to confirm what the realtor's are saying, that the market is only just starting up again after winter.

We have another viewing today, so fingers crossed.!!

P.S We had lovely sunshine yesterday, but definitely back to winter today (2 cm of snow)

Thanks again...............
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Old Apr 6th 2008, 12:42 am
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Smile Re: Slow Housing Market ??

Originally Posted by lee58uk View Post
Thanks Sunshine Girl,

That seems to confirm what the realtor's are saying, that the market is only just starting up again after winter.

We have another viewing today, so fingers crossed.!!

P.S We had lovely sunshine yesterday, but definitely back to winter today (2 cm of snow)

Thanks again...............

Sorry to hear your going back. We lived in Calgary for 2 years and could not find an area to live wich we both really liked and prices had gone up soo much. So after much searching we ended up having a drive 2 hrs south in Lethbridge and loved it. We have now been here nearly a year and am so glad we moved from Calgary. If wed stayed in Calgary we maybe would have looked at going back too who knows.

Im just saying have you had a good look around you and thought what it is you dont like.
I mean of course if it is home sickness then defo go back. I really feel for anyone feeling so homesick and just cant get home quick enough that must be soul destroying. I feel very lucky that for whatever reason I havent had it, never say never eh.

Good luck with selling your house, the market is picking up for sure so it wont be too long untill your home again.
Just try and look at it as it gives you a bit more time to enjoy the bits you do like, hoping there is bits you do like.

Take care if your ever passing Lethbridge , kettles on anytime.

x mrs minihaha x
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Old Apr 6th 2008, 12:58 am
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Default Re: Slow Housing Market ??

Spring revives the housing market in Canada.

"Normally"

- I don't know what will happen in Calgary, I'm in Winnipeg and we still have a "hot" market.

Up stream a contributor got shot down, about the value of a house is what someone is prepared to pay for it. They were right, its the same the whole world over, the Market Value of a house is what:-

a) the buyer is willing, for what ever the reason, to pay.

and

b) the seller, for what ever reason, is willing to accept.


Both vary, when the two come together........ you have a sale.


The amount paid may not be what your bank/lender would value it at.
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Old Apr 6th 2008, 6:33 pm
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Default Re: Slow Housing Market ??

Originally Posted by lee58uk View Post
Thanks Sunshine Girl,

That seems to confirm what the realtor's are saying, that the market is only just starting up again after winter.

We have another viewing today, so fingers crossed.!!

P.S We had lovely sunshine yesterday, but definitely back to winter today (2 cm of snow)

Thanks again...............
my friend just went back who arrived with me, i am in the ball park moving time of ann and mrs m. he had his listed for 465 and sold for 436, listed in early jan, completed last week. the buyers are out there, but he was told it would be difficult when he listed. on the plus side, once march came around things picked up significantly. i should imagine that before too long you'll get something. of interest, he was about to sack his realtor, just before he got an offer!?
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