Noticing some houses sticking around a bit longer than normal.
Could be badly priced home or sign of things to come?
Could be badly priced home or sign of things to come?
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COVID and the housing market
- Thread starter mimico_polak
- Start date
I dont know. Not everything sells instantly now but there was one north of barrie that I thought was seven figures too high and it sold in days for close to asking price. Buyers are out there but they get to be a little picky. You dont want to be for sale at the same time as a similar house within a few blocks.
$1.8m? Home prices are silly….
Yes please
For only slightly more, you could be my neighbour.
No jobsFor only slightly more, you could be my neighbour.
The local RE rag
"Sales are forecasted to be lower this year compared to 2021, as borrowing costs are trending higher. This will result in an even greater advantage for sellers."
I'm confused.
Re immigration: I see immigrants as renters not buyers and putting pressure on the rental market. Those getting squeezed out of the rental market aren't suddenly getting rich and able to buy.
Short of a serious crash in only the RE market I can't envision any return to affordability for Joe average.
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Less houses sell. Each sale is for more money. That has been the trend for a while.
The demand factor IMO will be negated by the increase in price unless incomes increase.
I think just seeing the insanity that's been going on is not really going to be affected by a few small % increases.
What WILL happen (IMO) is the average family will be priced out, while the investors, flippers, and foreign money will continue snapping up inventory.
We are into the spring market here (or early on) and I'm not seeing the inventory numbers of years before. Personally I'm seeing less on the market, less on the market = more buyers than homes = higher pricing.
While I hate to see rate increases, I know it's necessary. And in all honesty, if a few flippers, investors, and foreign buyers lose money and the market tanks...I won't be shedding any tears.
I will however look for BlogTO articles about how a 'poor' family can no longer make payments on their 5th investment property...Eff those guys.
Sadly house prices have had very little correlation to incomes for a decade. As historically gta real estate appreciation has been very positive, you dont even need to worry about paying off principal. Take out the longest possible loan to get monthly payments down. If you are paying as close as you can to just interest, you let the appreciation build capital.
Oooo my absentee neighbour with a fully decked out house...which was listed for rent at $6k/month just showed up....
I assume they'll just re-list it soon again for more. They only show up 1-2 times / year. Probably the nicest house on the street. Empty 99% of the year.
I don't want to generalize / stereotype but it starts with a C and ends with 'ese'.
I assume they'll just re-list it soon again for more. They only show up 1-2 times / year. Probably the nicest house on the street. Empty 99% of the year.
I don't want to generalize / stereotype but it starts with a C and ends with 'ese'.
Get ready for a 2.x on your street. Nuts. Starting to see more nice normal subdivision houses creeping towards 3 lately.
Perfect. Mine goes up, and my HELOC can go up also.
Our lawyer told us 'once you see 50% of the houses on your street start being sold and built up...time to sell. You don't want to be the last listing on your street.'
Our lawyer told us 'once you see 50% of the houses on your street start being sold and built up...time to sell. You don't want to be the last listing on your street.'
So home inspectors are complaining about the lack of work as most offers these days are unconditional. Are they all morons? Start pimping yourself out at a daily rate. Follow buyers around as they look at houses. You may not get a thorough inspection done but you have 15 minutes to an hour at each house, you can identify obvious expensive issues. If I was going to spend seven figures unconditionally, paying someone a few grand to be an extra set of eyes seems like a no brainer.
20-30 minutes away from Waterloo, Kitchener, Cambridge, Elmira and Stratford. Plenty of jobs within that radius if that’s your only hold up.
Anybody hear this one yet?
People show up to view a rental listed at 1500$/month but a bunch of other people are also viewing it at the same time. Then the landlord says "who wants to pay me more?". Bidding war ensues and he ends up renting it for north 2000$.
People show up to view a rental listed at 1500$/month but a bunch of other people are also viewing it at the same time. Then the landlord says "who wants to pay me more?". Bidding war ensues and he ends up renting it for north 2000$.
I’m with @Katatonic here. You’re currently working in Toronto, so yes it’s a long commute. But since you’ve changed jobs a handful of times once you settle on a new job then you can make that call.
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