#9820055 - 05/27/20 03:49 PM
Re: I started a blog (real estate)
[Re: loudsubz]
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Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26894
Loc: Toronto, ON
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Showings are up and registered offers are up.... bubble is bursting lol gonna quote this might also have to do with the nicer weather and people being let back out to do things again, but too soon junior
Quote me all you want sweetie. Till the inventory issue is resolved real estate will only go one way.
_________________________
'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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#9820071 - 05/27/20 04:02 PM
Re: I started a blog (real estate)
[Re: Hatorade]
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loudsubz
Post Master Supreme
Registered: 08/16/01
Posts: 11333
Loc: Ontario, Canada
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Showings are up and registered offers are up.... bubble is bursting lol gonna quote this might also have to do with the nicer weather and people being let back out to do things again, but too soon junior Quote me all you want sweetie. Till the inventory issue is resolved real estate will only go one way.
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#9820922 - 05/28/20 01:22 PM
Re: I started a blog (real estate)
[Re: Risky Business]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44814
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And while things are currently on the upswing now, what concerns me and any one that's currently inquiring about buying is if CMHC's forecast becomes reality.
Couple of things to note, they never release such downward forecasts and I think they are being transparent now to get themselves in line for a future bailout. The government won't be able to say they weren't warned.
Politics aside, the scary part for me personally is that CMHC is probably the best organization that's in a position to forecast default and price reduction. Unlike banks that are operating in silos CMHC has a consolidated view of everyone and the most at risk mortgages. They also hold and have the data on all defaults that are happening or about to happen, so shit that hasn't been reported yet is more likely than not factored in here.
Something worth considering on the buying and selling side.
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#9822078 - 05/29/20 01:46 PM
Re: I started a blog (real estate)
[Re: Screamin Type ARGH!]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44814
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Here is a good summary of the deferrals:
But some customers who asked to defer payments may have decided to keep paying, or perhaps subsequently received government support that allowed them to do so, which could cut down the number of loans currently going unpaid.
That total represents more than 14 per cent of the $1.24 trillion in residential mortgages that chartered banks had on their balance sheets as of March, according to Bank of Canada’s numbers.
https://business.financialpost.com/news/...obox=1590775461
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#9822235 - 05/29/20 04:28 PM
Re: I started a blog (real estate)
[Re: Risky Business]
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Big Tasty
Post Master Supreme
Registered: 02/10/02
Posts: 19656
Loc: Toronto
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https://torontolife.com/real-estate/sale...ovated-himself/
Address: 82 Campbell Avenue Neighbourhood: Junction Triangle Agent: Monte Burris, Trust Realty Group, Keller William Referred Urban Previously sold for: $635,000, in 2015, prior to renovations Listed for: $1,300,000 Sold for: $1,427,000
The property An 1,800-square-foot home near Bloor and Dundas. This four-bed, three-bath semi blends old and new, with a traditional Edwardian façade and a Scandi-inspired interior. Plus, it’s got a detached garage and a potential income suite.
The history This house was built in 1910. More than a century later, in 2015, a Toronto District School Board supply teacher bought the place for $635,000. The teacher, who is also a trained carpenter, then spent the next five years renovating the place with the help of friends and family. His vision for the design included elements from disparate eras. That’s why the place has a modern minimalist interior, along with old-fashioned features like leaded glass and an imitation transom window. The seller originally planned to live in the house upon completing the reno, but has since decided to move elsewhere.
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#9828188 - 06/05/20 05:23 AM
Re: I started a blog (real estate)
[Re: Risky Business]
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furball
Post Master Sr
Registered: 09/24/03
Posts: 9485
Loc: Toronto, ON
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#9828628 - 06/05/20 01:47 PM
Re: I started a blog (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: 44814
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Yep, we are back in a buying frenzy
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#9834547 - 06/12/20 08:27 PM
Re: I started a blog (real estate)
[Re: c2k]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29156
Loc: Toronto
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It’s becoming like NYC - you want to live in Manhattan and work there too? Good luck or you need some $
It’s to be expected though.
CMHC has been run like a profit centre for so long and now that they will finally have to pay out at a higher rate they are using their aggressive projections to change their criteria to mitigate that. However that’s just smart business.
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-Jeff
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#9842886 - 06/24/20 12:09 PM
Re: I started a blog (real estate)
[Re: Senor Eduardo_82]
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c2k
Post Master Supreme
Registered: 05/21/00
Posts: 19293
Loc: Wiesloch-Walldorf, Germany
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Oh, here you go: j/k Support Quality Journalism
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Who cares
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#9843246 - 06/24/20 04:25 PM
Re: I started a blog (real estate)
[Re: Senor Eduardo_82]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44814
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On the ground things are crazy, trying to put offers in right now is a fool's errand, absolutely erratic shit and people are overpaying to 'get in', 15 minute viewings, GTFO. Worst time to be a buyer right now imo, best to wait for the fall for the frenzy to stabilize when it doesn't feel like you have a gun to your head (this is for towns/semis/detached under $2m), good time to look at condos and I've seen some decent deals on condo assignments from people who can't afford to close. Otherwise it's a pure sellers market right now.
Amount of new listings coming up however is outpacing the number of sales so hopefully that slows things down.
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#9843583 - 06/25/20 05:24 AM
Re: I started a blog (real estate)
[Re: TheRealCSnapper]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44814
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I wanted that unit bad Been looking around Camden and King/Bathurst for a while, but I am settling in on the fact that boat passed in roughly 2016 when it made sense, it's a dice roll now. Need to focus more on east of Yonge where there are some deals. It only makes sense if appreciation continues its current pace, otherwise it's pissing money away. All the deals on condos are in the 700k+ range 2bed, PH, and usually to clean up/flip, not to rent.
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#9843777 - 06/25/20 10:25 AM
Re: I started a blog (real estate)
[Re: Risky Business]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44814
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Had to dig around for some data for detached in 416 and decided to check listings vs. solds, yea....about that. Looks like new listings are on fire, stabilizing the shitshow we have now. Will be curious to see if over the next few weeks this pace of listings cools off the market and potentially turn it the other way as we get to fall.
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