#9075324 - 07/09/17 11:07 AM
It's happening v. real estate
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44789
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it's so satisfying to see, shit not selling, seems like we are back to 2015 prices. I am seeing east york bungalows go for 600-650, not the 900k that they were getting months back.
I haven't done any full assessment, but just areas i am familiar with prices have really come down. Love how everyone is super quiet about it too I am sure TREB's market report will show a price increase or some bullshit, but really just check your individual neighbourhoods, the haircuts have started
Jeff, buy up an entire hood now, unless of course you already bought.
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#9075348 - 07/09/17 12:02 PM
Re: It's happening v. real estate
[Re: Hatorade]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29139
Loc: Toronto
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Haha I see realtor friends posting those articles but I understand why - it's their business
I'll have a house locked down in the next month for sure. Would have already but I'm dealing with a seller that refuses to budge and thinks they're getting asking. Pretty stupid on their part as the mortgage increase coming will bump it even further and have fewer buyers (they're asking more than the area is selling for right now)
Also one house I saw they put an offer time and date on the home lol wtf? Everyone will just wait and not offer and the guy fucked on his asking price - date is Thursday next week too which is a day after when everyone is expecting the BOC to announce a rate increase. Good plan guys - fire your agent
_________________________
-Jeff
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#9075349 - 07/09/17 12:04 PM
Re: It's happening v. real estate
[Re: JEFFOS]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29139
Loc: Toronto
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Realized I fell for the bait as a real estate thread is like the bat signal for me haha
_________________________
-Jeff
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#9075350 - 07/09/17 12:16 PM
Re: It's happening v. real estate
[Re: JEFFOS]
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Senor Eduardo_82
miataist
Post Master Supreme
Registered: 01/09/03
Posts: 38036
Loc: Ca�ada
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A place in my area was up for about 30-45 days, no bites. Price lowered last week and "offers taken on July 13"
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#9075371 - 07/09/17 01:01 PM
Re: It's happening v. real estate
[Re: Senor Eduardo_82]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29139
Loc: Toronto
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House that's been sitting for a month just put on a 50k price increase over their original price after a big drop today haha wtf? Are people smoking crack right now?
Originally posted 1.3M.
Sitting for over a month
Dropped to 1.18
Sitting for another 3 weeks
Today now changed price to 1.35???
Haha
_________________________
-Jeff
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#9075512 - 07/09/17 07:56 PM
Re: It's happening v. real estate
[Re: porschetr]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29139
Loc: Toronto
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It's great - getting back to be a normal sustainable market . Still isn't anywhere close yet but it's better than it has been in the last year
_________________________
-Jeff
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#9075529 - 07/09/17 08:53 PM
Re: It's happening v. real estate
[Re: porschetr]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44789
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Been happening since the day they announced the foreign buyer policy in Ontario. Houses that would sell in hours before are now sitting for weeks.
No, it's been happening only in the last week(s) where homes are actually selling for lower prices.
Sitting on the market and being relisted is not the same as the homes actually selling and the market sentiment shifting. The acceptance of lower offers is a significant mindset shift.
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#9075541 - 07/09/17 09:13 PM
Re: It's happening v. real estate
[Re: porschetr]
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Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26894
Loc: Toronto, ON
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Been happening since the day they announced the foreign buyer policy in Ontario. Houses that would sell in hours before are now sitting for weeks.
Wrong. Market started to cool before the announcement. Although prices remained unaffected to recently.
_________________________
'07 997.1 GT3 '08 E90 M3 '11 E90 d '02 Rota Grid - 195-55-16FR (RIP) '04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi) I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr
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#9075664 - 07/10/17 09:46 AM
Re: It's happening v. real estate
[Re: Hatorade]
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porschetr
Post Master Supreme
Registered: 05/15/01
Posts: 23391
Loc: WBridge
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Been happening since the day they announced the foreign buyer policy in Ontario. Houses that would sell in hours before are now sitting for weeks.
Wrong. Market started to cool before the announcement. Although prices remained unaffected to recently.
Correct me if I am wrong, but I thought The day they said the policy something similar to Vancouver is coming to Ontario,(before actually happened) people started to panic/react and started to rush to sell their homes. Resulting more houses on the market/ buyer not bidding knowing price would cool down.
My buddy is an agent, he just listed a house in Markham 3ish weeks ago. Not selling. He was assure it would have sold less than 24 hours if it was listed a couple of months ago.
Ya, they started to lower the price just a couple of weeks ago.
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#9075669 - 07/10/17 09:52 AM
Re: It's happening v. real estate
[Re: porschetr]
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LNXGUY
Post Master Supreme
Registered: 08/06/00
Posts: 106840
Loc: Barrie, Ont,
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Prices up here have stabilized, and no more 50-100k over ask offers. Jeff, I hope you get into a place soon man!
_________________________
-Bill The GN would OWN you, your children and your children's children. '09 E90 335 d
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#9075890 - 07/10/17 02:10 PM
Re: It's happening v. real estate
[Re: Just A Troll]
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xza8
Sr Member
Registered: 12/18/09
Posts: 1065
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A house was recently sold for $1.05M.
Within 1 week, I contacted the agent (who double-end the deal) if the NEW buyer will sell to me for $1.2M... NOPE, new buyer is not content with a $150K profit within a week, TAX-FREE, COMMISSION-FREE, as the house hasn't even closed yet, it would've just been an assignment that the government doesn't know.
Fortunately I live in a foreigner dominated neighbourhood so unlike the domestic buyers, they are not looking for a quick flip and are not desperate for cash so they will not sell if the price is not right. Yes, homes take longer to sell but the prices are quite firm.
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#9075891 - 07/10/17 02:11 PM
Re: It's happening v. real estate
[Re: xza8]
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Screamin Type ARGH!
High Value Poster
Post Master Supreme
Registered: 02/20/01
Posts: 47632
Loc: T.O. - Canaduh
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A house was recently sold for $1.05M.
Within 1 week, I contacted the agent (who double-end the deal) if the NEW buyer will sell to me for $1.2M... NOPE, new buyer is not content with a $150K profit within a week, TAX-FREE, COMMISSION-FREE, as the house hasn't even closed yet, it would've just been an assignment.
dafuq lol wow
_________________________
"Ban low performance drivers, not high performance cars"
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#9077924 - 07/12/17 05:04 PM
Re: It's happening v. real estate
[Re: Screamin Type ARGH!]
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OracerO
Post Master Sr
Registered: 10/07/02
Posts: 3949
Loc: GTA
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Quite interesting in a span of 6 weeks it has turned into a buyers market.
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#9078052 - 07/12/17 08:23 PM
Re: It's happening v. real estate
[Re: OracerO]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29139
Loc: Toronto
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One person just took their house off the market and another cranked their price up 175k. Both have been sitting for multiple months lol. Not going to go well. Both not living in the home and already are in the new house. Similar house just sold for 150k under the asking price of the home that jacked the price and the house was nicer.
_________________________
-Jeff
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#9078127 - 07/12/17 09:26 PM
Re: It's happening v. real estate
[Re: titty sprinkles]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44789
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Imagine how shitty the person who bought for 750 is feeling right now.
750k for a townhouse, probably 600k mortgage for 30 years for a fucking townhouse. I am not sure what's worse, jail or that?
People getting HOSED!
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#9078147 - 07/12/17 10:07 PM
Re: It's happening v. real estate
[Re: JEFFOS]
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xza8
Sr Member
Registered: 12/18/09
Posts: 1065
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One person just took their house off the market and another cranked their price up 175k. Both have been sitting for multiple months lol. Not going to go well. Both not living in the home and already are in the new house. Similar house just sold for 150k under the asking price of the home that jacked the price and the house was nicer.
Are you better off now than say last year, when you were participating in crazy bidding wars?
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#9078337 - 07/13/17 08:00 AM
Re: It's happening v. real estate
[Re: Senor Eduardo_82]
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spd-dmn
Post Master
Registered: 11/24/04
Posts: 2271
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You think this will last or will this be a blip in 5 years time?
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#9078395 - 07/13/17 09:04 AM
Re: It's happening v. real estate
[Re: Risky Business]
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Just A Troll
Curved Street Thug Life
Post Master
Registered: 09/24/09
Posts: 2221
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Imagine how shitty the person who bought for 750 is feeling right now.
750k for a townhouse, probably 600k mortgage for 30 years for a fucking townhouse. I am not sure what's worse, jail or that?
People getting HOSED!
Depends on the townhouse. Some are better than antique bungalows.
Last week I went to see a friend of mine just bought a 60 year old $1.4 M bungalow. Single car detached garage, 1400 sq ft. Not close to anything. Some suburb in Etobicoke. It looks like crap and they've budgeted over $100k for renovations. Basically ripping apart the whole interior.
On the way home my "wife" commented that our brand new $760k, now worth close to a Mil, double car attached garage, 2000 sqft "executive" end-unit townhouse is a much better deal. It's much more liveable that's for sure.
_________________________
I don't need to use this space to show off my car or my camera gear.
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#9078452 - 07/13/17 10:14 AM
Re: It's happening v. real estate
[Re: Hatorade]
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xza8
Sr Member
Registered: 12/18/09
Posts: 1065
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He's not
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#9078479 - 07/13/17 10:39 AM
Re: It's happening v. real estate
[Re: xza8]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29139
Loc: Toronto
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One person just took their house off the market and another cranked their price up 175k. Both have been sitting for multiple months lol. Not going to go well. Both not living in the home and already are in the new house. Similar house just sold for 150k under the asking price of the home that jacked the price and the house was nicer. Are you better off now than say last year, when you were participating in crazy bidding wars?
Still to be seen but all signs are pointing to yes it should be better now.
I happened to just run into a few idiots which I'll just watch until they come back an realize their houses wont sell for what they want. Seeing more houses come up as people are trying to make money before it falls any more I assume.
_________________________
-Jeff
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#9078487 - 07/13/17 10:46 AM
Re: It's happening v. real estate
[Re: JEFFOS]
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LNXGUY
Post Master Supreme
Registered: 08/06/00
Posts: 106840
Loc: Barrie, Ont,
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Wait until the fall and winter, they'll be less houses on the market and the prices will start to creep back up.
_________________________
-Bill The GN would OWN you, your children and your children's children. '09 E90 335 d
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#9078496 - 07/13/17 10:55 AM
Re: It's happening v. real estate
[Re: JEFFOS]
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xza8
Sr Member
Registered: 12/18/09
Posts: 1065
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One person just took their house off the market and another cranked their price up 175k. Both have been sitting for multiple months lol. Not going to go well. Both not living in the home and already are in the new house. Similar house just sold for 150k under the asking price of the home that jacked the price and the house was nicer. Are you better off now than say last year, when you were participating in crazy bidding wars? Still to be seen but all signs are pointing to yes it should be better now. I happened to just run into a few idiots which I'll just watch until they come back an realize their houses wont sell for what they want. Seeing more houses come up as people are trying to make money before it falls any more I assume.
2017 summer prices less than 2016 summer prices?
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#9078498 - 07/13/17 10:56 AM
Re: It's happening v. real estate
[Re: LNXGUY]
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xza8
Sr Member
Registered: 12/18/09
Posts: 1065
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Wait until the fall and winter, they'll be less houses on the market and the prices will start to creep back up.
even now, I'm trying to pickup a 3rd property but there is no good inventory
there are a few houses sitting for months on the market but they won't budge and obviously I'm looking for a deal for my 3rd
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#9078520 - 07/13/17 11:06 AM
Re: It's happening v. real estate
[Re: xza8]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29139
Loc: Toronto
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One person just took their house off the market and another cranked their price up 175k. Both have been sitting for multiple months lol. Not going to go well. Both not living in the home and already are in the new house. Similar house just sold for 150k under the asking price of the home that jacked the price and the house was nicer. Are you better off now than say last year, when you were participating in crazy bidding wars? Still to be seen but all signs are pointing to yes it should be better now. I happened to just run into a few idiots which I'll just watch until they come back an realize their houses wont sell for what they want. Seeing more houses come up as people are trying to make money before it falls any more I assume. 2017 summer prices less than 2016 summer prices?
Yup
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-Jeff
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#9078534 - 07/13/17 11:17 AM
Re: It's happening v. real estate
[Re: JEFFOS]
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xza8
Sr Member
Registered: 12/18/09
Posts: 1065
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One person just took their house off the market and another cranked their price up 175k. Both have been sitting for multiple months lol. Not going to go well. Both not living in the home and already are in the new house. Similar house just sold for 150k under the asking price of the home that jacked the price and the house was nicer. Are you better off now than say last year, when you were participating in crazy bidding wars? Still to be seen but all signs are pointing to yes it should be better now. I happened to just run into a few idiots which I'll just watch until they come back an realize their houses wont sell for what they want. Seeing more houses come up as people are trying to make money before it falls any more I assume. 2017 summer prices less than 2016 summer prices? Yup
Sounds like a good deal, hopefully you find something soon!
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#9078890 - 07/13/17 05:26 PM
Re: It's happening v. real estate
[Re: Just A Troll]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44789
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Imagine how shitty the person who bought for 750 is feeling right now.
750k for a townhouse, probably 600k mortgage for 30 years for a fucking townhouse. I am not sure what's worse, jail or that?
People getting HOSED! Depends on the townhouse. Some are better than antique bungalows. Last week I went to see a friend of mine just bought a 60 year old $1.4 M bungalow. Single car detached garage, 1400 sq ft. Not close to anything. Some suburb in Etobicoke. It looks like crap and they've budgeted over $100k for renovations. Basically ripping apart the whole interior. On the way home my "wife" commented that our brand new $760k, now worth close to a Mil, double car attached garage, 2000 sqft "executive" end-unit townhouse is a much better deal. It's much more liveable that's for sure.
So your wife said that a property bought 2-3 years ago at much lower prices is a better deal than a property bought today? She must be very analytical.
I want to live in a townhouse instead of a detached home...is something no one ever said in the history of humans.
Nothing wrong with townhouses or living in one, but gtfo out with this executive townhome is better than an old detached home. How executive do you feel when you hear your neighbours parties through the wall? /in before executive not a straight street sound insulation.
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#9078962 - 07/13/17 06:52 PM
Re: It's happening v. real estate
[Re: Risky Business]
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xza8
Sr Member
Registered: 12/18/09
Posts: 1065
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I'll take an executive townhouse over an old house, no lies.
I prefer 10' ceilings, open concept and large windows over privacy.
I would actually swap my 40 year old house for my old town manor if it wasn't temporary.
I was looking to lease a townhouse for $3,500 and rent out my own house $2,500, yes... take a hit, but the wife didn't want to re-pack/un-pack after 2 months of settling in (and the landlord didn't care to discount and being Chinese, I need a discount to seal the deal).
On the topic of rent, the cashflow of a condo investment property >>> of a detached... did anyone buy one of the cool Nobu units?
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#9078990 - 07/13/17 07:18 PM
Re: It's happening v. real estate
[Re: Risky Business]
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Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26894
Loc: Toronto, ON
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Imagine how shitty the person who bought for 750 is feeling right now.
750k for a townhouse, probably 600k mortgage for 30 years for a fucking townhouse. I am not sure what's worse, jail or that?
People getting HOSED! Depends on the townhouse. Some are better than antique bungalows. Last week I went to see a friend of mine just bought a 60 year old $1.4 M bungalow. Single car detached garage, 1400 sq ft. Not close to anything. Some suburb in Etobicoke. It looks like crap and they've budgeted over $100k for renovations. Basically ripping apart the whole interior. On the way home my "wife" commented that our brand new $760k, now worth close to a Mil, double car attached garage, 2000 sqft "executive" end-unit townhouse is a much better deal. It's much more liveable that's for sure. So your wife said that a property bought 2-3 years ago at much lower prices is a better deal than a property bought today? She must be very analytical. I want to live in a townhouse instead of a detached home...is something no one ever said in the history of humans. Nothing wrong with townhouses or living in one, but gtfo out with this executive townhome is better than an old detached home. How executive do you feel when you hear your neighbours parties through the wall? /in before executive not a straight street sound insulation.
lol anyone that thinks living in a linked home is better than a detach is on crack.
_________________________
'07 997.1 GT3 '08 E90 M3 '11 E90 d '02 Rota Grid - 195-55-16FR (RIP) '04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi) I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr
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#9079411 - 07/14/17 08:31 AM
Re: It's happening v. real estate
[Re: xza8]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44789
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I'll take an executive townhouse over an old house, no lies.
I prefer 10' ceilings, open concept and large windows over privacy.
I would actually swap my 40 year old house for my old town manor if it wasn't temporary.
I was looking to lease a townhouse for $3,500 and rent out my own house $2,500, yes... take a hit, but the wife didn't want to re-pack/un-pack after 2 months of settling in (and the landlord didn't care to discount and being Chinese, I need a discount to seal the deal).
On the topic of rent, the cashflow of a condo investment property >>> of a detached... did anyone buy one of the cool Nobu units?
No you wouldn't, you are only saying that because of your current situation.
Long term, almost no one would do that.
Secondly, have you lived in a townhome before?
I don't want to turn this into a pissing match because facts are facts, nothing wrong with townhouse living, but let's not make into something that it's not.
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#9079461 - 07/14/17 08:59 AM
Re: It's happening v. real estate
[Re: Risky Business]
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xza8
Sr Member
Registered: 12/18/09
Posts: 1065
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I'll take an executive townhouse over an old house, no lies.
I prefer 10' ceilings, open concept and large windows over privacy.
I would actually swap my 40 year old house for my old town manor if it wasn't temporary.
I was looking to lease a townhouse for $3,500 and rent out my own house $2,500, yes... take a hit, but the wife didn't want to re-pack/un-pack after 2 months of settling in (and the landlord didn't care to discount and being Chinese, I need a discount to seal the deal).
On the topic of rent, the cashflow of a condo investment property >>> of a detached... did anyone buy one of the cool Nobu units? No you wouldn't, you are only saying that because of your current situation. Long term, almost no one would do that. Secondly, have you lived in a townhome before? I don't want to turn this into a pissing match because facts are facts, nothing wrong with townhouse living, but let's not make into something that it's not.
Yes, my first house was an inline townhouse
- a detached at this price point would not have 2 car garage
- love the combined kitchen/living room
- right now the family shares a tiny 3 piece bath
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#9079536 - 07/14/17 09:47 AM
Re: It's happening v. real estate
[Re: Hatorade]
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LNXGUY
Post Master Supreme
Registered: 08/06/00
Posts: 106840
Loc: Barrie, Ont,
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Townhouses definitely aren't like that up here
_________________________
-Bill The GN would OWN you, your children and your children's children. '09 E90 335 d
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#9079564 - 07/14/17 10:00 AM
Re: It's happening v. real estate
[Re: LNXGUY]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44789
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So we are picking TH over old detached because layout? I guess there is your difference, I never consider layout of a home as a critical buying criteria. I only look at a single criteria: is it the shittiest home in the nicest neighbourhood I can afford to buy in? If yes, then buy, if no, then pass. Layout doesn't even cross my mind. I can tear down a home and rebuilt/change anything I want however I want, whenever I want. Can't do that with a TH. Also with a TH, it's transition living, so you are with neighbours with high turnover since everyone is chasing that "dream home" and no one plans to stay there long term. With that you get less upkeep/care from most people, etc. Doesn't apply to all TH's but that's the gist of the mentality anyway.
I will take a tent/camper van on a detached lot in a good neighbourhood before a townhouse if prices were similar
TIL: TH living is awesome, the more you know.gif
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#9079621 - 07/14/17 10:53 AM
Re: It's happening v. real estate
[Re: Big Tasty]
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Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26894
Loc: Toronto, ON
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Gotcha. Not gonna lie I have a total of 4 floors now with the basement finished and damn that's a lot of fricken stairs. Yup, this happened a lot for us Put kids down for bed then went to basement to watch tv. -Did you bring the baby monitor down with you? -No, fuck it's in our room (3rd floor) -You going to get it? -No just got here. -Ok, just turn the volume down on the tv and listen out for them.
Fuck lol. I can relate 100%
That said we love this place and my neighbours are here for the long haul. One is a widow and the other is a single professional (has spent a shitload of $$$ upgrading her place).
_________________________
'07 997.1 GT3 '08 E90 M3 '11 E90 d '02 Rota Grid - 195-55-16FR (RIP) '04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi) I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr
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#9079820 - 07/14/17 01:13 PM
Re: It's happening v. real estate
[Re: Hatorade]
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Just A Troll
Curved Street Thug Life
Post Master
Registered: 09/24/09
Posts: 2221
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#9079839 - 07/14/17 01:30 PM
Re: It's happening v. real estate
[Re: Just A Troll]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44789
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Ok cool, I stand corrected: some people would prefer townhouse living over detached living. I don't know of any such people in real life, but that's the beauty of the internet.
I am ok with it.
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#9079973 - 07/14/17 03:47 PM
Re: It's happening v. real estate
[Re: Hatorade]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44789
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I think there are some inherent flaws in the way we are "discussing" this topic, which will always lead to some bias.
I guess the simplest way to look at this is if you sample detached home owners and th owners.
Poll every single one and ask if detached home owners would move to a townhouse, same square footage, same area, same price, but it would be newly renovated, then ask townhouse owners if they would move to a detached home with the same square footage, but not updated (10 year old reno for example).
If i had to guess all th owners would move and no detached home owner would, enough said.
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#9082266 - 07/18/17 09:18 AM
Re: It's happening v. real estate
[Re: Just A Troll]
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SW20_MR2
Post Master Sr
Registered: 08/27/01
Posts: 5282
Loc: Markham, Ontario, Canada
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Unless you are picky about a specific school district or something, there has to be more options than just old 50s detached and modern townhouses. Aren't there newer-ish detached houses in the same area?
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1991 MR2 Turbo aka "The Myth"...does it really exist? 2006 Mazda3 Sport aka "Reality"...it really does exist...
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#9082277 - 07/18/17 09:29 AM
Re: It's happening v. real estate
[Re: Just A Troll]
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iamfob
Post Master Supreme
Registered: 09/06/02
Posts: 24697
Loc: Out There
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Well, if a detached home were up to the standards of my townhome, yes... I would get the detached.
But compared to those tiny, badly laid out, one garage detached shitholes built back in the '50s? Nah! I'll take my modern Townhouse!
It just seems to me that for $1.4M, you're not getting good value in a 50 year old detached.
Don't forget the build quality on older homes are a lot more solid than the current built homes. I was helping my friend to demolish his 1960s built bungalow in Halton Hills area. The materials were legit the real deal, solid wood, thicker drywall, etc.
As for the room layout, you realize it can be knockdown and re-model right?
If your neighbour is quiet type then it's not too bad. I have heard my next door neighbour partying on occasional weekends, loud music here and there, and their kids crying, and I can hear my neighbours running up and down the stairs. If you say you can't hear your neighbours living in a townhouse/semi-detached, you are lying to yourself.
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FTMFW!!!
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#9082797 - 07/18/17 04:46 PM
Re: It's happening v. real estate
[Re: iamfob]
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xza8
Sr Member
Registered: 12/18/09
Posts: 1065
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You know new homes don't fall apart right?
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#9082830 - 07/18/17 05:10 PM
Re: It's happening v. real estate
[Re: iamfob]
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Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26894
Loc: Toronto, ON
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Well, if a detached home were up to the standards of my townhome, yes... I would get the detached.
But compared to those tiny, badly laid out, one garage detached shitholes built back in the '50s? Nah! I'll take my modern Townhouse!
It just seems to me that for $1.4M, you're not getting good value in a 50 year old detached. Don't forget the build quality on older homes are a lot more solid than the current built homes. I was helping my friend to demolish his 1960s built bungalow in Halton Hills area. The materials were legit the real deal, solid wood, thicker drywall, etc. As for the room layout, you realize it can be knockdown and re-model right? If your neighbour is quiet type then it's not too bad. I have heard my next door neighbour partying on occasional weekends, loud music here and there, and their kids crying, and I can hear my neighbours running up and down the stairs. If you say you can't hear your neighbours living in a townhouse/semi-detached, you are lying to yourself.
It's extremely rare for me to hear my neighbour. The widow next door looks after her grandson (6) during the day and I don't hear shit. She has asked me if he's being too noisy and I had no idea lol The stupid shit that I have heard was my other neighbor vacuuming at 5am, my wife had a word with her lol.
We spent a lot of time in this unit before putting an offer on it. We've been pretty lucky with shared living. We didn't hear shit in our old condo and my neighbours never complained about me, so the walls were pretty damn good. When I had people over and certain individuals are LOUD, you can hear it from the hallway just to give you an idea how loud we were.
_________________________
'07 997.1 GT3 '08 E90 M3 '11 E90 d '02 Rota Grid - 195-55-16FR (RIP) '04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi) I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr
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#9083166 - 07/19/17 07:15 AM
Re: It's happening v. real estate
[Re: Risky Business]
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4Three
Post Master Sr
Registered: 12/21/00
Posts: 5365
Loc: Markham, ON, Canada
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Risky, those town home lovers are probably the same people who would hate to have to maintain a yard of any size. They'd rather have a solid concrete patio and a couple planters. The things you like about a detached are things they don't care for. They prefer turn-key simplicity over 'potential', and the hassle associated with it. Personally, I'm with you, but hey, different folks, different strokes.
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Fake right, cross-over, shoot lefty
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#9083170 - 07/19/17 07:29 AM
Re: It's happening v. real estate
[Re: Wildout]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44789
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Would anyone downsize to keep their mortgage similar if the rates continue to rise? I know this is CSI where everyone's house is paid off, but is everyone happy with their current home & have no plans to move in the next 10 years? Does current house need a major renovation to keep you? Would people rather throw that extra money into the cottage or investments. Or do people not really watch the market that hard and as long as mortgage & bills are paid life's good?
I can't really downsize much from what I have so I am staying put unless I can't afford the home.
Only way I can see myself moving is if I end up building a custom home, even then I'd keep the current house as a spare.
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#9083171 - 07/19/17 07:33 AM
Re: It's happening v. real estate
[Re: 4Three]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44789
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Risky, those town home lovers are probably the same people who would hate to have to maintain a yard of any size. They'd rather have a solid concrete patio and a couple planters. The things you like about a detached are things they don't care for. They prefer turn-key simplicity over 'potential', and the hassle associated with it. Personally, I'm with you, but hey, different folks, different strokes.
I agree with all of that, the troll introduced "value" in his argument favouring him which is ridiculous. Personal preference regarding lifestyle choices =! Value generated by property
I suppose we should now define value as well
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#9083211 - 07/19/17 08:19 AM
Re: It's happening v. real estate
[Re: 4Three]
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Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26894
Loc: Toronto, ON
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Would anyone downsize to keep their mortgage similar if the rates continue to rise? I know this is CSI where everyone's house is paid off, but is everyone happy with their current home & have no plans to move in the next 10 years? Does current house need a major renovation to keep you? Would people rather throw that extra money into the cottage or investments. Or do people not really watch the market that hard and as long as mortgage & bills are paid life's good?
Nope, no plans to move ever. It's hard to say never but we won't be getting rid of this place that's for sure. Just did a major reno this past winter so staying put. Downsizing? We have more room than we need currently (total living space 2800 sq/ft) but couldn't imagine going smaller.
Risky, those town home lovers are probably the same people who would hate to have to maintain a yard of any size. They'd rather have a solid concrete patio and a couple planters. The things you like about a detached are things they don't care for. They prefer turn-key simplicity over 'potential', and the hassle associated with it. Personally, I'm with you, but hey, different folks, different strokes.
This is exactly why we love living where we are now. Basically don't need to worry about the outside. Both of us aren't green thumbs so we could give 2 shits about maint. A lawn and all that shit.
_________________________
'07 997.1 GT3 '08 E90 M3 '11 E90 d '02 Rota Grid - 195-55-16FR (RIP) '04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi) I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr
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#9083216 - 07/19/17 08:24 AM
Re: It's happening v. real estate
[Re: 4Three]
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Just A Troll
Curved Street Thug Life
Post Master
Registered: 09/24/09
Posts: 2221
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Risky, those town home lovers are probably the same people who would hate to have to maintain a yard of any size. They'd rather have a solid concrete patio and a couple planters. The things you like about a detached are things they don't care for. They prefer turn-key simplicity over 'potential', and the hassle associated with it. Personally, I'm with you, but hey, different folks, different strokes.
We have a winner. Coming from a condo lifestyle, I'm used to not maintaining a lawn. Quite frankly I don't give a shit about grass.
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I don't need to use this space to show off my car or my camera gear.
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#9083236 - 07/19/17 08:42 AM
Re: It's happening v. real estate
[Re: Just A Troll]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44789
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Risky, those town home lovers are probably the same people who would hate to have to maintain a yard of any size. They'd rather have a solid concrete patio and a couple planters. The things you like about a detached are things they don't care for. They prefer turn-key simplicity over 'potential', and the hassle associated with it. Personally, I'm with you, but hey, different folks, different strokes. We have a winner. Coming from a condo lifestyle, I'm used to not maintaining a lawn. Quite frankly I don't give a shit about grass.
Good call a high powered car pooling executive like you definitely doesn't have time for anything but executive townhouse living.
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#9083254 - 07/19/17 09:02 AM
Re: It's happening v. real estate
[Re: Hatorade]
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Just A Troll
Curved Street Thug Life
Post Master
Registered: 09/24/09
Posts: 2221
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Well, if a detached home were up to the standards of my townhome, yes... I would get the detached.
But compared to those tiny, badly laid out, one garage detached shitholes built back in the '50s? Nah! I'll take my modern Townhouse!
It just seems to me that for $1.4M, you're not getting good value in a 50 year old detached. Don't forget the build quality on older homes are a lot more solid than the current built homes. I was helping my friend to demolish his 1960s built bungalow in Halton Hills area. The materials were legit the real deal, solid wood, thicker drywall, etc. As for the room layout, you realize it can be knockdown and re-model right? If your neighbour is quiet type then it's not too bad. I have heard my next door neighbour partying on occasional weekends, loud music here and there, and their kids crying, and I can hear my neighbours running up and down the stairs. If you say you can't hear your neighbours living in a townhouse/semi-detached, you are lying to yourself. It's extremely rare for me to hear my neighbour. The widow next door looks after her grandson (6) during the day and I don't hear shit. She has asked me if he's being too noisy and I had no idea lol
The only time I ever heard my neighbour was when they played loud music with lots of bass. I really only heard the bass. I asked them nicely to turn down the bass, which they did, and all was well.
But even in a detached, you'd still hear that bass from house to house. I grew up in a suburb of detached houses and I could hear the neighbour in back playing with his band in the basement.
Modern townhomes are pretty good at sound insulation.
Wow... I think this is the first time Hater and I have something in common.
Scary!
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I don't need to use this space to show off my car or my camera gear.
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#9083457 - 07/19/17 11:36 AM
Re: It's happening v. real estate
[Re: Just A Troll]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44789
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Time? It's not about time. It's about the stupid expense of taking care of a lawn. It's ridiculous. Spending time and money just to have the best green patch in front. Greener than your neighbour etc. It's so stupid in fact that during the California drought, when everything turned brown, people were actually PAINTING their lawns green. That being said. Yes, I would get a modern detached for a good price. And I would rip out all that grass and landscape it all with bushes, rocks, etc. A zero maintenance setup. But I'd still not get a 60 year old bungalow for $1.4M with perceived "options". You prefer an old detached. I prefer a modern townhome. Lets just leave it at that. live and let live.
Got it, so your biggest pro for townhouse living is not cutting grass.
Logical af
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#9083920 - 07/19/17 05:27 PM
Re: It's happening v. real estate
[Re: Risky Business]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29139
Loc: Toronto
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#9084007 - 07/19/17 07:38 PM
Re: It's happening v. real estate
[Re: JEFFOS]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44789
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Jeff has spent half a decade waiting for this moment, to finally walk into open houses and be like:
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#9084093 - 07/19/17 09:52 PM
Re: It's happening v. real estate
[Re: Risky Business]
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A2B-Lexus
Post Master Supreme
Registered: 04/19/01
Posts: 45550
Loc: Raptors Land
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GL Jeff @ grabbing a pad.
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#9085614 - 07/21/17 11:14 AM
Re: It's happening v. real estate
[Re: JEFFOS]
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zc911
Ferrari4Sale 😎
Post Master Supreme
Registered: 01/01/00
Posts: 16449
Loc: toronto
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it may be, but it's not like waiting 3-4 years has saved any money? It will cost you more for the same house now than it did then. Just not as much as it would have 6 months ago or less.
Edited by bAt_Rob_zc911 (07/21/17 11:14 AM)
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#9085647 - 07/21/17 11:31 AM
Re: It's happening v. real estate
[Re: zc911]
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Big Tasty
Post Master Supreme
Registered: 02/10/02
Posts: 19600
Loc: Toronto
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#9085649 - 07/21/17 11:33 AM
Re: It's happening v. real estate
[Re: zc911]
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xza8
Sr Member
Registered: 12/18/09
Posts: 1065
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it may be, but it's not like waiting 3-4 years has saved any money? It will cost you more for the same house now than it did then. Just not as much as it would have 6 months ago or less.
6 months? Maybe 4 months.
My 6 month old property (15 offers, 500K above asking) has actually gone up in value.
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#9085650 - 07/21/17 11:34 AM
Re: It's happening v. real estate
[Re: Big Tasty]
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xza8
Sr Member
Registered: 12/18/09
Posts: 1065
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Those are renovated. It cost ~ $150-200K for renovation.
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