2,773 Failed MLS® Listings in the last 3 Months in Calgary

What is a failed MLS® Listing?
A Failed MLS® Listing is a listing that Did Not Sell the first time it was listed on the Calgary Real Estate Boards MLS® System.

Why did these homes not sell in the first 90 days they were MLS® listed?
The #1 reason those homes did not sell is because of the asking price.

Setting the right price is the difference between a Failed MLS® Listing and a Successful MLS® Listing.

How does setting the WRONG price happen?

  1. Sellers choose the Wrong Realtor®
  2. Sellers fail to have the same research that home buyers and banks have
  3. Sellers set a price based on opinions not facts

Choosing the Wrong Realtor is the Number One Reason homes are put on MLS® with a price that sets Sellers up for Failure. “Buying The Listing” is a strategy used by Realtors® just to get the listing. Sellers decide they will list with whoever says the highest price. Unless the highest price is backed up by same research, a home buyer and a home lender have, this is a Failing Strategy that most sellers will regret.

The easiest way to tell if you might have the Wrong Realtor® is if the Realtor® does not provide you with the same detailed research that buyers and banks have.
Choosing the Wrong Realtor® sets you up for Failure!

The days of setting a price OVER MARKET VALUE to see if someone will pay it are long gone and a proven Failing Strategy. It failed in Calgary 2,733 times in the past three months.

Everybody has access to the same real estate market information today. The Banks however also send out their own Home Appraisers and will only offer you a mortgage based on the Bank Appraised Value or Selling Price whichever is LOWER. So, on the off chance, you found someone willing to pay over market value, they would Fail to Get A Mortgage at the inflated value.

Avoiding MLS® Failure starts with setting the price properly with the help of the Right Realtor®.

Getting your home sold involves much more than the Right Price and the Right Realtor will help you to make the Right Choices all throughout the MLS® Success Process.

Free Honest Home Evaluations. Click Here

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Detached Homes

49 Active Listings
50 Sold in the Past 90 Days
$268 Per Square Foot Average Sold Price

Attached Homes

30 Active Listings
28 Sold in the Past 90 Days
$224 Per Square Foot Average Sold Price

Apartment Homes

52 Active Listings
30 Sold in the Past 90 Days
$212 Per Square Foot Average Sold Price

Foreclosure Supply is controlled by the banks and mortgage companies. It is against the best interests of the banks and mortgage companies to increase the supply beyond the demand. If lenders flooded the market and drove down prices that action would damage the value of the mortgages they still hold on similar properties. It would take a major financial market meltdown before Canadian Banks and Canadian Mortgage Companies became forced sellers of real estate. A rare event, but never say never.... 

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Home Supply and Demand says we are in a Buyers Market in most Calgary Communities for the foreseeable future.

On an individual basis, your home could be in a Sellers or a Buyers market. If you have no plans to buy or sell in the near future, just ignore this report.

If you are thinking of making a move, feel free to call me anytime for a market update or anything else.

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Free Home Evaluations

How long were you a Willing Qualified Buyer until you bought your present home?

How long have you been out of the real estate market since buying your home?

The truth is Willing Qualified Buyers in today's market are;

  1. Harder to find
  2. Have lots of choices
  3. Are not in the market very long
  4. Are looking for a great house at a great price
  5. Not looking at over market value priced properties
  6. Not looking at advertising from Realtors advertising Realtors

The truth is Willing Qualified Buyers Compare Prices Only!
While they look at all the other properties in their Buying Power target range.

The truth is Willing Qualified Buyers are Shoppers!
Buyers are outgoing through homes and comparing what you have to offer compared to all other options including doing nothing.

Right now, in Calgary, there are over 8,000 active listings. Over 8,000 properties jumping up and down, shouting loud and waving their arms trying to get the attention of the few Willing Qualified Buyers.

Less than 1,500 homes sold in Aug 2018.
Less than 1 in 5 homes sold in Aug 2018 of the over 8,000 on the market.
The odds of selling are stacked against all properties that are not priced competitively.
Testing the market is a complete waste of time. Those days are gone for the foreseeable future.

Willing Qualified Buyers first step is to search for homes MLS® Listed by Price. The next step is to browse the pictures. Then explore the details and history of only the short list of properties meeting their criteria. Next Willing Qualified Buyers ask to book appointments to see the short list of homes with the goal of eliminating all but one!

The most important thing to get right when selling a home is PRICE. If a home was on the market and didn’t sell it’s because the Price didn’t meet the buyer’s perception of value.

Price is what you pay. Value is what you get.
Two loonies are for sale. One is offered at $1.05, the other at 95 cents.
It’s obvious which one will sell quickly, and which one will sit on the shelve forever or be taken off the market?

Real Estate is the same, offer value and you sell quickly, over price and never sell.

I offer Free Honest Home Evaluations!

“Buying A Listing” means telling you your home is worth more than it would ever sell for. The idea is to get price reductions from you until it does get to the price a Willing Qualified Buyer will pay. I don’t do that!

It takes me a bit of time to prepare an Honest Opinion of Current Market Value, but I don’t mind.

Call me if you would like an Honest Opinion of Current Market Value. 403 831 0842

Thank You

Jerry Charlton
 403 831 0842     Jerry@JerryCharlton.com
Remax Realty Professionals

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Real Estate Investing is a numbers game. Can a property generate enough income to pay the expenses and a profit to the owner? With that in mind, Real Estate Investors need to start with Income Research.

Rentfaster is one of the better websites to search for average rent rates in Calgary. You can search by home style and communities to really narrow in on the type of property you are thinking about. You can also search by price to see what properties demand the highest rents and what properties collect the least amount of income.

Then you can search properties on MLS® by the numbers as well.

Here's a snapshot of a spreadsheet with Calgary Condos for sale showing the income required to break-even with 25% down. Mortgage at 3.5% Interest over 25 Years.

Of course your Break Even Monthly Cash Flow could be much different depending on your down payment and interest rate.

If you would like a list of current condos for sale using your numbers in my database - give me a call today.

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Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.