Dan Welyk Calgary Realtor® Since 1999

There Is No Substitute for Experience.

First Time Home Buyers Can Qualify

After a couple years of First Time Home Buyer's being pushed outside of Calgary's real estate market, times have changed - prices have dipped low enough for many to get into the game!

Calgary's home prices are still unreachable for many, however with the past 12 months of record listings and slower sales - prices have brought many properties within reach of budgets. An example of a recent trade, a one bedroom + den condo that would have sold 6 months ago for $250,000 in Calgary's SW was just sold for slightly over $210,000 after being on the market 90+ days. Several other smaller units that would have sold a few months ago at the $200,000 mark are now sitting (and not selling) in the $170,000 range.

For many first time home buyers, $200,000 to $250,000 is the magic figure for the single income earners. 18 months ago - this price range did not offer much at all. Now, a completely different story. Hundreds of entry level condos are available - many are new, many offer high end upgrades like granite counters, hardwood floors and underground parking.

I (personally) expect to see these prices continue to dip slightly opening up the doors to more buyers yet - the key to a healthy housing market. If the first time home buyers are unable to purchase, the market will halt - something we have seen with this current correction of pricing from our 2006 boom.

If you are a first time buyer who was pushed aside by the recent booom in pricing - you may want to re-look at our current market.

My prediction...hmm...maybe I should not predict? Let's wait until next week. :p



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