Ask me anything about Real Estate

Forum Sponsor
mimico_polak said:
All valid points. I'm just shocked as to how much such small lots are going for. I'll just keep an eye on it to see what they build it up to be and very likely will be flipped into a new style home. Then it'll sell for $800k+.

As for Hamilton, if I didn't work in Etobicoke then I'd definitely consider it but as it stands, I'm not willing to commute that far. We can make do with the place we have for a few more years. Mississauga still has decent pricing in many pockets.
Click to expand...
Mississauga does have lots of decent stuff for more affordable. While comparing condo's and houses is comparing two very different things, my condo that I sold near Lakeshore/Windermere was roughly $600/sqft. The house we have in Mississauga is $220/sqft and that doesn't include the driveway, garage, or back/front yards.

I think Mimico and south Etobicoke will continue to rise, partly because it's the most affordable west end area left. It's also attractive because it's got the train line, still has TTC access, is near the water and is only minutes to get into the city.
 
mimico_polak said:
A shack in my area (New Toronto) just sold for 627k.....asking was 579.....that's insane in my opinion.
Click to expand...

My parents are in the same house they've always owned (50+ years - bought for I believe $23k) at Mt. Pleasant / Eglinton - for years I've been telling dad he's a millionaire - still refuses to believe me.
 
I have a store west of windmere on lakeshore you want to be careful as more west you get. It's affordable, but very low income area. It's currently going to be developed in the next 15 years. There is a guy buying all the houses next to the lake now hoping that developers will pay him big bucks for it as the land stretches all the way to the lake. Also be careful when buying there apparently there was a huge flood a long time ago and a lot of those houses were submerged under water. Their foundations might be in question.

We also bought a condo at kariya drive when it was first developed. We sold it with only a 10k appreciation. The area has over developed on condos and that might again be the case if you are looking to invest in a new development. Right now, we only look at property investment if it's right next a major highway. People will always pay for convenience.

shanekingsley said:
Mississauga does have lots of decent stuff for more affordable. While comparing condo's and houses is comparing two very different things, my condo that I sold near Lakeshore/Windermere was roughly $600/sqft. The house we have in Mississauga is $220/sqft and that doesn't include the driveway, garage, or back/front yards.

I think Mimico and south Etobicoke will continue to rise, partly because it's the most affordable west end area left. It's also attractive because it's got the train line, still has TTC access, is near the water and is only minutes to get into the city.
Click to expand...
 
SunnY S said:
In Hamilton, you can still buy a decent property with a price tag that starts with a 1....
Click to expand...

You used that line here last year. Times are a changing quick. What do you consider decent anymore?
 
crankcall said:
Im not sure its insane, I think the commuter phase is dying and people will pay a lot to be closer to a job. I'm seeing a LOT of friends that are sick of burning out a car every 4-5yrs, 600. month in fuel and loosing an hr+ on both ends of a work day. Living closer to work will continue to keep prices climbing.
And as Addy pointed out, anything on/near a transit line has value.
Click to expand...

+1

I've lived in other metropolis cities and it's the same ebb and flow. There are plenty of buyers who would gladly spend the extra $ to live closer to work. Travelling 3+ hours in traffic takes it's toll on you after a while.
 
I'm not liking the whole bidding thing very much. IMO, if underpricing and expecting bidding wars is the strategy, the brokerages should be forced to list at $0 to begin with.
 
SunnY S said:
oldest trick in the book. they used to do this on MLS listings so that their item gets listed first and seen by more people.

pretty sure the MLS people put the kibosh on this sort of stuff on their site.
Click to expand...
Depends on which MLS you belong to. Some allow it, some don't. The practice really should be banned. It's basically the calling card of a lazy realtor.

I came across one like it recently here in Barrie. (it was listed by an agent in Toronto of course as we don't do those kinds of silly things up here!) my client wanted to know how much the property was, so I looked it up.. on the Toronto mls despite the property being located in Barrie, because you know.. that's great exposure for your client! *sarcasm* (Agents listing outside their territory is another thing that should be banned! The calling card of a greedy realtor who cares more about making a buck then referring his client to someone who actually knows the area they are selling in so they get the best service!) and i saw the price was $1.. so I called the agent .. and I asked how much the property was .. and he said $1... So I said Ok, we'll take it. FULL PRICE!

There was dead silence.. then agent said come on, you know we aren't going to sell it for $1. Make a real offer and we will consider it.

Give me a real price and we will make a real offer I said .. dead silence. I asked again how much does your seller want for the property. "The market will decide the price he said " oh really I said. The market will price the property. That's interesting. Isn't that what they hired you for?

We decided not to view the property.

99% of what we (competent) realtors do is help you price the property appropriately so you get the most out of it. If we aren't going to do that anymore you may as well sell it yourself.

/rant

Sent from my BlackBerry Z30 using Tapatalk
 
Last edited:
Friends just sold in Georgetown. $24k over asking, no conditions. House was priced at proper value, imho. I think they would have been happy at asking.
You can't touch my neighbourhood for less than $500k for a townhouse, and we seem to have more punks and degenerates hanging at the nearby plaza than ever. I've said it before, and I will say it again: I couldn't afford to live in my house if I had to buy it now. I do not envy people in the market now one bit.
 
inreb said:
You used that line here last year. Times are a changing quick. What do you consider decent anymore?
Click to expand...


10-15 years ago Stinton(?) was all over Sat. morning infomercials selling investment properties /developments he was doing in the Hammer. They were around $80k. Anyone know what they are valued at now? Missed that one.
 
Link took me to a generic page. Typed in Hamilton. Bunch of properties in Brampton came up for $1. Going back to drinking an ice cold diet pepsi
 
just_luc said:
Depends on which MLS you belong to. Some allow it, some don't. The practice really should be banned. It's basically the calling card of a lazy realtor.

I came across one like it recently here in Barrie. (it was listed by an agent in Toronto of course as we don't do those kinds of silly things up here!) my client wanted to know how much the property was, so I looked it up.. on the Toronto mls despite the property being located in Barrie, because you know.. that's great exposure for your client! *sarcasm* (Agents listing outside their territory is another thing that should be banned! The calling card of a greedy realtor who cares more about making a buck then referring his client to someone who actually knows the area they are selling in so they get the best service!) and i saw the price was $1.. so I called the agent .. and I asked how much the property was .. and he said $1... So I said Ok, we'll take it. FULL PRICE!

There was dead silence.. then agent said come on, you know we aren't going to sell it for $1. Make a real offer and we will consider it.

Give me a real price and we will make a real offer I said .. dead silence. I asked again how much does your seller want for the property. "The market will decide the price he said " oh really I said. The market will price the property. That's interesting. Isn't that what they hired you for?

We decided not to view the property.

99% of what we (competent) realtors do is help you price the property appropriately so you get the most out of it. If we aren't going to do that anymore you may as well sell it yourself.

/rant

Sent from my BlackBerry Z30 using Tapatalk
Click to expand...

I don't agree with the $1 listing but do see value in underpricing properties but not every property deserves it... I'm working with two clients right now that both had very specific needs in what they were purchasing (older parents living and need bedroom on main floor with washroom) and it took us a while to find the right home for them... Both my clients didn't want to price the property high and keep it open on the market for three weeks..> They both opted to review the market value, cut the price by 3% and put it on the market with offer date...

They were able to get market value for their property and the closing date they wanted along with a firm offer in 3 days and 6 days...

Win win...

I also deal in commercial and see no price when exclusive listings make my way... As realtors, we are expected to know what property should sell for and come up with a price that is fair for the buyer and seller... The list price is a suggestion or a starting point...
 
Joe Bass said:
10-15 years ago Stinton(?) was all over Sat. morning infomercials selling investment properties /developments he was doing in the Hammer. They were around $80k. Anyone know what they are valued at now? Missed that one.
Click to expand...

He is still working on a project in Hamilton... Call school lofts or something... Remember seeing him at couple of tradeshows
 
Addy said:
He is still working on a project in Hamilton... Call school lofts or something... Remember seeing him at couple of tradeshows
Click to expand...


Yeah, that was the latest iirc. Converting an old school....that's not done yet?
 
You must log in or register to reply here.
Back
Top Bottom