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Thread: real estate..... is it true??

  1. #385
    Quote Originally Posted by angrymime666 View Post
    houses that I have been viewing are still going for multiple offers above ask. nothing insane as 2016 but over ask by 5-10k where I am looking. single detached bungalows with original owners that have never been updated since they were built.
    .
    I'm finding the same thing in my area and the area i'm looking to move to, only the ask has often dropped twice already(both in the 416). I find the RE agents won't do a price drop on the listing but rather cancel and list again as new so buyers don't know the price has been dropped. But when you've been watching for awhile you'll notice the same house listed again and again each time with a lower price but never showing the previous price. The rules in this industry are really archaeic and need some basic regulation to stop duping the consumers.

  2. #386
    Quote Originally Posted by wonkyknee View Post
    I'm finding the same thing in my area and the area i'm looking to move to, only the ask has often dropped twice already(both in the 416). I find the RE agents won't do a price drop on the listing but rather cancel and list again as new so buyers don't know the price has been dropped. But when you've been watching for awhile you'll notice the same house listed again and again each time with a lower price but never showing the previous price. The rules in this industry are really archaeic and need some basic regulation to stop duping the consumers.
    I agree. Laws in the real estate markets in Canada are lacking in transparency. Unlike the laws in the USA in real estate markets, they keep track of the prices' drop to give more protection to consumers. Also, if an agent de-list and re-list a property again in the USA, it continues to count number of days of listing from the original listing instead of resetting to 1 as in Canada. So the agent cannot fool potential buyers. Laws in Canada is more to protect the real estate business owners than consumers.
    Last edited by NiceToMeetYou; 08-20-2018 at 11:44 PM.

  3. #387
    I think in 416 with high transfer taxes, buying and selling is dampened. Until employment starts to decline, I don't see much risk of rapid depreciation. But of course with rising rates I do not see rapid rises in price either.

  4. #388
    Quote Originally Posted by NiceToMeetYou View Post
    I agree. Laws in the real estate markets in Canada are lacking in transparency. Unlike the laws in the USA in real estate markets, they keep track of the prices' drop to give more protection to consumers. Also, if an agent de-list and re-list a property again in the USA, it continues to count number of days of listing from the original listing instead of resetting to 1 as in Canada. So the agent cannot fool potential buyers. Laws in Canada is more to protect the real estate business owners than consumers.
    Some very good news today. The Toronto Real Estate Board's (TREB) appeal to keep Sold Data private has been rejected by the supreme court, so now home sold data can be made public by realtors. Expect lots more sites to pop up with this data moving forward.

    TREB are scumbags for launching the lawsuit and keeping it going for years to hide information that is made readily available in markets such as the U.S.
    Last edited by Smallcock; 08-24-2018 at 01:36 PM.


    "Death by violence, death by cold, death by starvation, - these are the normal endings of the stately and beautiful creatures of the wilderness. The sentimentalists who prattle about the peaceful life of nature do not realize its utter mercilessness" - Theodore Roosevelt

    I want you to point your finger at me. I want you to call me names.

  5. #389
    Prices will not drop. Canada will not go through a real estate bubble. The banks are far too strict with the loans

  6. #390
    I found this recent article

    Ocotber 3, 2018 -- Toronto Real Estate Board President announced that Greater Toronto Area REALTORS® reported 6,455 sales through TREB's MLS® System in September 2018 – up 1.9 per cent compared to September 2017. The average selling price for September 2018 sales was up by 2.9 per cent over the same period to $796,786. The MLS® HPI composite benchmark price was up by two per cent year-over-year.

    New listings entered into TREB's MLS® System in September 2018 amounted to 15,920 – down by 3.1 per cent compared to September 2017. With sales up year-over-year and new listings down, market conditions became tighter. Many buyers may have found it more difficult to find a home meeting their needs.

    So my thoughts are that..
    The lower supply and higher demand , with low interest rates for now will continue to drive prices up in the GTA.
    Interest rates will have to increase a fair bit to see prices drop . Prices drop when there is more supply than demand
    and homes sit on the market too long then you start to see more price reductions . The higher end homes take a bigger hit
    but look at the condo market still booming and the rental market is insane in the GTA another indication of short affordable supply.
    fy2d

  7. #391
    Quote Originally Posted by knight12341 View Post
    Prices will not drop. Canada will not go through a real estate bubble. The banks are far too strict with the loans
    Cycles are unavoidable.

    Vancouver detached is down 20% YOY in some areas, and Months-of-Inventory is up to 15 months. 111 sold last month - the lowest in 28 years.

    Toronto is still holding but I think it will turn a corner as rates rise. Recessions have resulted most often when rates begin to rise historically. The amount of debt out there is crazy.


    "Death by violence, death by cold, death by starvation, - these are the normal endings of the stately and beautiful creatures of the wilderness. The sentimentalists who prattle about the peaceful life of nature do not realize its utter mercilessness" - Theodore Roosevelt

    I want you to point your finger at me. I want you to call me names.

  8. #392
    I think that with the stock markets have been crashing in the past couple days except today, the turning point of economic recession is just around the corner.

    Once the recession is in full blown, there will be lots of job cuts by various employers and many people need to unload their debts and mortgage payments after loosing jobs for a couple months before the EI will run dry in the next couple months. My prediction would be major and substantial prices' reduction in the residential GTA market will be imminent.

    It would be hard to know how much will be the drop in the real estate market's prices because it will depend on locality and locations of the properties. However, I am quite confident that the drop could be as much as 40% from today prices in the less desirable areas and locations or even in the more desirable locations where their prices have been just too high to be attractive to any buyers.

    Say "Cheers" to many of the investors when the time will come with the major drop in the GTA real estate markets.

    For those who "bank" in their assets from their real estates as their major income's contribution in their retirement... You may need to put your retirement on hold for at least another 4 or 5 years until the real estate markets will be bounced back and your positions in the retirement equity portfolio will be improved after the stock markets' crashes.

    That may make the millenniums cry because they want your jobs badly and have been waiting for you old folks to retire sooner...

  9. #393
    Quote Originally Posted by NiceToMeetYou View Post
    For those who bank in their assets from their real estates as their major income's contribution in their retirement... You may need to put your retirement on hold for at least another 4 or 5 years until the real estate markets will be bounced back and your positions in the retirement equity portfolio will be improved after the stock markets' crashes....
    or you may have to simply become landlords for these 5 years?

  10. #394
    Home Capital shares sell off after Berkshire Hathaways discloses it's sold most of its stake
    https://www.cbc.ca/news/business/hom...away-1.4952331

    Buffet knows that the Canadian real estate bull run is coming to an ugly end.


    "Death by violence, death by cold, death by starvation, - these are the normal endings of the stately and beautiful creatures of the wilderness. The sentimentalists who prattle about the peaceful life of nature do not realize its utter mercilessness" - Theodore Roosevelt

    I want you to point your finger at me. I want you to call me names.

  11. #395
    I thought there would be a bust a few years ago these prices are unreal and they don't seem to be dropping. Its very tough to survive in Canada right now rent is through the roof people are just living off debt.

    Its sad to see what has happened people cant afford to have children or save anything for retirement even with good paying jobs. Governments answer is immigration milking off the tax payer.

    2000 dollar for dollar debt

    2018 dollar seventy one to every dollar ultra low intrest rates and heard mentality have created this mess not sure how we're going to get out.

    Its funny how difficult it is to find price history on these homes I've been able to find some. House 2014 going for 260k now 600k lol. These are townhomes Hamilton branford grimsby lol

  12. #396
    Recession in Canada is all but certain. Vancouver Real estate is falling. Toronto Real Estate activity is down considerably affecting RE agents, mortgage brokers etc etc. 1/2 of all mortgages renew over the next 18 months at 1.5% higher rates than people had previously. Car sales are plummeting. Good news if you're shopping for a car these days. Oil patch is dismal. Just waiting for the Doc to call "time of death"

  13. #397
    Yea but realestate prices are still climing lol. There hasn t been much drop at all in prices. Housing prices are uo 70% in hamilton last five years eveyone is coming from toronto wages are stagnant.

    I just don t get it !!!!!!!

  14. #398
    Quote Originally Posted by Bigdaug View Post
    Yea but realestate prices are still climing lol. There hasn t been much drop at all in prices. Housing prices are uo 70% in hamilton last five years eveyone is coming from toronto wages are stagnant.

    I just don t get it !!!!!!!
    the realtors are still pressing that house prices are still at 2016 prices. there is very little inventory out there. I was looking at a 800sq ft house dated to the 50s with a wet basement in hamilton. it was priced at 279k. realtors believe that this house renovated could get 400k.

    the math just isnt there.

    its realtors pushing up prices for their bottom line.

  15. #399
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    Quote Originally Posted by angrymime666 View Post
    the realtors are still pressing that house prices are still at 2016 prices. there is very little inventory out there. I was looking at a 800sq ft house dated to the 50s with a wet basement in hamilton. it was priced at 279k. realtors believe that this house renovated could get 400k.

    the math just isnt there.

    its realtors pushing up prices for their bottom line.
    350 sq ft....


    At the bottom of all the tributes paid to democracy, is the little man, walking into the little booth, with a little pencil, making a little cross on a little bit of paper - no amount of rhetoric or voluminous discussion can possibly diminish the overwhelming importance of the point.

  16. #400
    Quote Originally Posted by onthebottom View Post
    350 sq ft....
    yes. drop 50k for materials(not including labour) and the math doesnt add up for me to make a decent profit after everyone else gets paid. that house would never sell for 375-400k especially when there are new builds in the area that are not selling at 400k with 2x the sq footage.

  17. #401
    LoL. Now the Hamilton real estate market is the way to go? LOL.

    Even just before the last real estate market crash, Hamilton prices were up. Rexdale and Jane/Finch side splits were going for $400 000 before they dropped to $180 000. Last think I'd do late in a market cycle is speculate in a crappy area. Worst move possible!

    This is an election year. I fully expect JT to get rid of the 2% qualifying rule. Maybe even bring back 30 year amortizations. Maybe increase CMHC mortgage insurance to 1.2million or 1.5million. I hope one of these things staves off a collapse. But make no mistake, this is no time to pay full price for an investment property.

  18. #402
    Quote Originally Posted by wonkyknee View Post
    LoL. Now the Hamilton real estate market is the way to go? LOL.

    Even just before the last real estate market crash, Hamilton prices were up. Rexdale and Jane/Finch side splits were going for $400 000 before they dropped to $180 000. Last think I'd do late in a market cycle is speculate in a crappy area. Worst move possible!

    This is an election year. I fully expect JT to get rid of the 2% qualifying rule. Maybe even bring back 30 year amortizations. Maybe increase CMHC mortgage insurance to 1.2million or 1.5million. I hope one of these things staves off a collapse. But make no mistake, this is no time to pay full price for an investment property.
    whats wrong with the hamilton market? its not toronto, but you can make money here. Im not a flipper but I do like to buy a property undervalue so I can make money before hand and then get some sweat equity out of it. the issue is low inventory and people willing to pay over its value. realtors are speculating based on what ifs and "could sell" for as potential to make money on flips.

    Im patience..... just like the stock market, there is always a correction.

  19. #403
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    Quote Originally Posted by clules View Post
    Toronto Average Prices 1980 to 2013 as per Toronto Real Estate Board

    Thanks that was informative!

  20. #404


    "Death by violence, death by cold, death by starvation, - these are the normal endings of the stately and beautiful creatures of the wilderness. The sentimentalists who prattle about the peaceful life of nature do not realize its utter mercilessness" - Theodore Roosevelt

    I want you to point your finger at me. I want you to call me names.

  21. #405
    Profitability of residential real estate is greatly exaggerated today. I didn't want to play roulette and invested in herringbone shed construction. As for me, agricultural private business has more opportunities for growth today.

  22. #406
    Guess who the target market is for this project:

    New development at 481 University Ave......Occupancy is not until 2025

    Highlights TD;DR:
    279 sqft Studio: $489,000
    457 sqft 1Bedroom: $782,000
    605 Sqft 1Bed + Den: $1,001,900
    692 Sqft 2Bed: $1,101,900
    Parking: 1 spot = $120,000 (can only be purchased if your condo price is over $1M)
    Maintenance: "approx" $0.75/sqft...aka $1+ for a sqft

    Oh ya...they also want $10,000 in 30 days
    If this sells out quickly, you'll know that Toronto no longer belongs to Torontonians nor Canadians.


    "Death by violence, death by cold, death by starvation, - these are the normal endings of the stately and beautiful creatures of the wilderness. The sentimentalists who prattle about the peaceful life of nature do not realize its utter mercilessness" - Theodore Roosevelt

    I want you to point your finger at me. I want you to call me names.

  23. #407
    Quote Originally Posted by Smallcock View Post
    If this sells out quickly, you'll know that Toronto no longer belongs to Torontonians nor Canadians.
    Don't kid yourself. the majority of condo sales are going to Torontonians and their thirst for multiple investment properties

  24. #408
    Quote Originally Posted by wonkyknee View Post
    Don't kid yourself. the majority of condo sales are going to Torontonians and their thirst for multiple investment properties
    That's what our incompetent civil servants tell you. Drink the Koolaid.

    Here's the problem. The data they are collecting is flawed. They do not look at who numbered companies are incorporated to unless they're investigating someone for tax evasion. Most Asian investors are operating under numbered companies.

    I am the 3rd generation in Toronto real estate. The number of Asian and Middle East buyers buying without even stepping foot in Canada is absurd.

    Our federal government should have instituted a tax on foreign buyers to purchase real estate. It would cut into the investor's profits but they'd still buy because they are either diversifying their portfolio or hiding money that's been evaded from taxes in their home country. That's the truth.

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