I can see the problem right away…..This looks like a job for Team Senio Realty!It's crazy to think that Bogger and Mrs Bogger have been out there for 3 months already, their house is still for sale folks, not sure why it's not been snagged up.
Someone on here must know someone who needs a property like this one:
IMO that's a fair price for that place.
Issue is the buyers have dried up. Given current interest rates, and Canada's new mortgage rules, a buyer would have to pass the "stress test" at 6.34% interest.
Assuming 5% down payment, an ideal max debt service ratio of 36%, and no other loans of any kind. The buyer(s) needs a minimum annual income of $149,800.
There's definitely lots of people that can afford a $700k home, but I think most of them took advantage of the low interest rates the past 2 years and bought during that time.
Lots of people no longer have to commute. Lots of companies have moved to a virtual first work scenario! But valid point on the commuteTotally a fair price, but not too many people can afford that price for a second home, and I don't think too many who have to commute to Edmonton everyday would be willing to do so from that distance, so I think the market for it is quite small. Interest rates rising have cooled things off a fair bit but still plenty of higher priced sales happening.