Real Estate Blog

A client called me today. He got a killer deal on a new house in the summer. He’s young and told me the house was lit. I almost called the fire department.

He’s been trying to rent his condo but hasn’t got many inquiries. We discussed selling it a few months back but, as you know from what I’ve written, it’s not a great time to sell, especially a condo.

But he’s going to be in the red with renting. Cutting his losses and selling is worth considering at this point.

‘Maybe you should lit it for the insurance money.’

‘What?’

‘Sorry, that’s old man humour. How can I help?’

‘What’s the blowout price to get the condo sold?’

I didn’t have an answer. I threw my arms up in the air and said ‘oh man… off the top of head… I have no idea.’

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Feeling musical? Check out What's Happening on Music Mile.

Calling all Foodies! don't miss this month's Calgary Food Tours: Thursdays are Craving Kensington, Saturdays you can Savour 17 Ave SW, and end the week with Sunday Brunch and a Calgary Farmers’ Market Tour.



Click on the links below to see time & location as well as more event details...

  

November 9

  • Barney Bentall and The Cariboo Express
  • Rolston String Quartet
  • Brave Girl
  • Mary and Max
  • Class of '88
  • Calgary European Film Festival
  • Christmas in the Country Art Sale
  • Dance Montage
  • Norm Macdonald
  • Millarville Christmas Market
  • Heritage Weavers and Spinners Annual Fall Sale

November 10

  • Diabetes Awareness Day and Expo
  • Diwali Dhamaaka
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First, you might want to check out this blog I wrote to learn why Calgary has a Buyers’ Market

Over a month ago, I met up with new clients and their five month old baby to start their home search.

It was a beautiful day. The sun was bright but it wasn’t hot. Weekdays in Calgary’s older neighbourhoods seem to have a sleepy small town vibe during the summer. Everyone was in good spirits and moving slowly, enjoying the exciting process of buying a home.

Their price range was just barely enough for an entry level home in an established family neighborhood. At any other time in my real estate career, we would’ve had a conversation about how they, at their price range, can’t be too picky if they wanted to live one of these communities, and we’d have

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Buy Low, Sell High… Again

One of the smartest people I know told me yesterday, ‘The market is really bad right now and interest rates keep going up. I’m going to put off my home search for now.’

What?

WHAT??!!

WWWWHHHHAAAATTTT????!!!!

Let me get this straight. Instead of buying now, you’d rather pay more for something crappier in the future.

So I felt I need to write about this topic again. About buying low. Then selling high.

First, some quick stats to explain what I’m talking about.

Sales of detached homes are down 20% compared to average over the past 10 years. Supply is up to 5.5 months; it’s been under 3 for almost all of my real estate career. The typical house in Calgary was $508,200 last September. It’s now worth

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I’ve answered a constant stream of paranoid questions, from not high people, about how Cannabis legalization will affect Real Estate in Calgary. Honestly… it won’t.

Just chill out and keep reading. Or smoke a doobie.

Last week, investor clients called me up out of the blue to list their profitable revenue property. They were sure the tenants would destroy the house with home grown weed. They wanted it listed ASAP and would sell at a loss.

‘Go home. Take some oil. Netflix and chill’ was my professional advice.

Then I added, ‘or just write into their lease that they can’t grow it or smoke it in the house. You could add that they can’t smoke it outside on the property, but that would greatly decrease the pool of potential renters.’

‘We can

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Home buyers are cheap, lazy, & have outrageous expectations.

Every Realtor has a blog post with this title, full of common sense drivel like ‘keep your home sparklingly clean… blah blah’

Look, selling a home is frustrating. So it’s time to totally honest.

Here are the 3 things that everyone selling a home really needs to understand.

First, a caveat: every point should say Most Home Buyers Are… I’m worried that you will think: ‘Let’s just focus on buyers who aren’t cheap, lazy, outrageous.’ But that will escalate frustration. And cost you thousands of dollars. So just assume I’m talking everybody who buys a house.

Are you ready…?

1. Home Buyers Are Cheap

Ya know what every single home buyer tells me: ‘I want a great deal.’

Ya

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You and your partner will argue while buying a home.

Every couple does, you're not unique.

People process large decisions differently. Your relationship probably works because you and your partner have different points of view. You balance each other out. 

You also drive each other bonkers.

Let's talk about how to stay together, maybe even love each other more, while you buy a home.

Note: none of the Foat Partners hold a psychology degree. We've helped a lot of couples buy homes. We've mediated tons of arguments. We've shoved many bottles of wine into client's hands and assigned the homework: 'drink this and sort things out.'

The most volatile conversation happens when you've found a home you both love. That's when your true personality

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We'd Be Really Rich If We Had No Soul

We talked people out of bad real estate decisions all the time. All. The. Time.



KaraLee and I had spent three hours in a car together driving to the Century 21 Kickoff in Edmonton. 

If you know the two of us, then you know what that would be like. We laughed, strategized, bounced ideas off each other, laughed more, came up with even better ideas, said ‘we said write this down… the funny stuff and the valuable stuff’, created about 2 years worth of new work for each other, told funny stories… that’s the gist.

Sprinkled throughout our conversations, a common theme kept coming up. We talk people out of bad real estate decisions on a weekly basis. I originally wrote daily but that would be a hyperbole. Weekly

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Kim is a 
wicked photographer with a smile that brightens up your whole day. 

Kim transitioned quickly from client to friend. She sent me the cover picture the night she took possession... after her girlfriend, Dani, found the bottle of bubbly I stealthy stashed in her fridge. Texts like that make me ridiculously happy.

Kim moved to Calgary from Ontario a few years ago to attend ACAD. Now, the time was right to stop renting, truly become an adult, and buy a home. Her family's go-to Realtor in Ontario referred KaraLee and I. We started emailing every day about what she wanted in her first home.

Kim's mom Kari came to Calgary for a few days. We looked at a ton of townhouses. Lots stood out. But there was a clear winner. The only problem was, it was

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Before I was a REALTOR and saw thousands of homes, I really liked the theme song from Weeds. 


I thought it was like a poignant middle finger to the home building industry. A skeptic can say that our homes have become cookie cutter boxes covering a hillside, all filled with similar ticky-tacky from Ikea. But the song pre-supposes that there was a time when this wasn’t the case; when every home was a ‘character home.’ That’s just not true.

Countless times, when speaking to someone interested in buying a home, I’ve heard: ‘We want an older home. Something with character.’

What gives most old homes their ‘character’ are odd ‘maintenance’… um, ‘upgrades’… um, let’s go with ‘improvements’ - made by the amateur handyman living in it at the time. The

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