Good Morning, I made it in time for the EBWOD! (needed to drop someone at the airport, only reason I was up so early!)
EBWOD: oblivious
wod: ring
BIG BAG OF CASH: 1,000.00
Enjoy the great weather out there! Some of the roads in our neighbourhood are impassable however, from all the melting snow!
For those with time and interested in sharing what is your opinion on the current resession and the falling house prices, do you think it will be a shorlived trend? how has it effected any of you directly?
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11 comments:
In regards to falling house prices... I have had my house listed since the end of October and have reduced the price twice. I am selling because we have built a new house that fits our growing family. When we signed the deal in March of last year the market was still good. Now our possesion date is next week and we still have not been able to sell our current house. We can't carry two mortgages, so if the current house doesn't sell soon, we will be walking away from our 10% down payment and not getting our new house.
If anyone is interested in a house in Airdrie, just say the word and I will post the MLS Listing #. :)
In a nutshell, the recession and the drop in housing prices and sales sucks bad!
M.P.
BBOC 4:20 - $950
SVU BC - guilty
Thurs EBWOD - point
BBOC AM $900
WOD: Trouble
From the other end of the wage spectrum, I'm very glad that houses have finally started dropping. In my opinion, IT'S ABOUT TIME! Both house values and therefore rent went up so far and so fast that we had friends forced right out of Calgary because they couldn't afford to live here anymore and we were contemplating the same. Luckily for us we have a fair landlord and our rent only went up 10% each year (thiers went from 950 to 1800 in one jump!). Now, instead of thinking about leaving Calgary, we're thinking we might actually be able to buy a house sometime again.
Nothing personal Michael but, in a nutshell, the recession sucks for everyone but the drop in the housing market only sucks for those who had to purchase during the ridiculous rise.
Sorry for the rant everyone but I love Calgary and hated the idea of leaving.
On a personal note Michael, good luck selling your house! I don't know what would hurt more, losing the cash or waiting for an entire year on your dream home only to have to walk away from it. :(
Wow, that is heart breaking Michael. I hope someone makes an offer on your existing home soon.
It's too bad the timing is off Michael. I might buy in Airdrie but IF I do it wouldn't be until June/July. I'm living in a friend's basement right now saving up for a down payment. (still have quite a ways to go). I have a small budget too. Only $270k-ish. Post the MLS listing anyway if you don't mind. I hope you don't have to walk away from your new home :(
Cheers
A.
Michael that is a bad situation.
Have you thought about renting out your old house?
It is a risk, but at least then your loses on the housing market is just paper. Then you just have to wait it out and hope for a market recovery and then sell.
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