All Blog Entries by Tim Olynik

Found 5 blog entries published by Tim Olynik.

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.’

98 Views, 0 Comments

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

51 Views, 0 Comments

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

84 Views, 0 Comments

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

38 Views, 0 Comments

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

70 Views, 0 Comments

Sign up for email updates