Realtor says Calgary’s high-end homeowners are selling

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Owners of some of the most expensive properties in Calgary are keen to sell rather than risk a downward spiral of their homes’ values. Realtor Thomas Keeper of Tink International Real estate told the Globe and Mail that the pre-Christmas period was “one of the busiest Decembers” he’s known and says that the situation was not one he’d seen before. While there has been a slowdown in sales and an increase in listings in Calgary across all property types realtors are not generally reporting panic-selling however Keeper concludes that for the higher-value property market: “People were selling their homes right before the market was really starting to crash.” Read the full story.

  • Jerry Quigley on 2015-02-05 7:44:34 AM

    Ms MacKenzie says she is getting desperate...... you have to wonder why that is. It seems it is her parents home, and with a reverse mortgage there is no mortgage payment and probably no property tax payment. Would the reporter care to ask those obvious questions rather than fear mongering. If it were her own hard earned equity, does anyone think she would be asking 900K for a 1.5M home? Worse yet, this home may sell, then the realtors have a COMP to wave around to get your price down.

  • John S. on 2015-02-05 11:26:43 AM get your price down to real values instead of unrealistic ideas of a costs of brick and mortar.

  • John S. on 2015-02-05 11:31:00 AM

    And that's if you are lucky and your home is not made out of substandard materials like vinyl siding originally designed for garden sheds. Just about time for this non sense to be over.

  • judy on 2015-02-05 12:42:57 PM

    If you enjoyed the ride up, you gotta live with the ride down!

  • MM on 2015-02-05 2:52:55 PM

    I live in Mt Royal and intimately familiar with real estate here and can tell you this lady's house is in Lower not Upper Mount Royal, that's a huge difference in property values. What the article doesn't say is that this lady put her house on the market for 2.6M in the summer and has been dropping it to where it is now at $900k. Speaking from experience, this house is not worth $900k, maybe $750-900k. When this house first came on the market at 2.6m in the summer I had a good chuckle.

  • Michael S on 2015-02-06 10:38:11 AM

    There are only 14 homes listed right now in Upper Mt Royal & 1 in Lower Mt Royal. Looking at the price history for each of them, there is no panic going on and very little if no change in list price.

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