higher brent and wti does not mean better prices for canadian oil. The sentiment is better (or was) but canadian production is generally heavily discounted.soon could be a year or two from now...higher oil prices could lift Canada for a year or more; but a higher rates and further housing price corrections could take its toll too..once again probably not til next year.
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.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.
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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.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.
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.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.
Cycles are unavoidable.Prices will not drop. Canada will not go through a real estate bubble. The banks are far too strict with the loans
or you may have to simply become landlords for these 5 years?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....
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.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 !!!!!!!
350 sq ft....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.
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.350 sq ft....
