#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: 26908
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: 11334
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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#9820644 - 05/28/20 10:16 AM
Re: I started a blog (real estate)
[Re: Hatorade]
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Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45657
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There is very little point in trying to argue the real estate market. I think we all know it's overvalued based on financial metrics, the uncoupling of ROI and real estate happened around a decade or so ago. People are now buying based on confidence of appreciation into the future, right or wrong, this is what's happening hence why it stays propped up. There are a lot of people on the sidelines with cash on hand ready to pounce, which means even if there is a drop it will get propped up again by the next wave of people.
The funny part is that there are a number of people who have lost a lot of money on assignment sales or even resales over the last 2-3 years, but it's kept hush for the next sucker I guess.
Like everything in life you have to do your due diligence, there is still 'reasonable' real estate to be bought and there are a ton of turds being pushed too.
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#9820922 - 05/28/20 01:22 PM
Re: I started a blog (real estate)
[Re: Riskhe Business]
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Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45657
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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-R]
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Riskhe Business
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Post Master Supreme
Registered: 05/17/10
Posts: 45657
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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: Riskhe Business]
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Big Tasty
Post Master Supreme
Registered: 02/10/02
Posts: 19954
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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#9823191 - 05/31/20 12:20 PM
Re: I started a blog (real estate)
[Re: Hatorade]
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Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45657
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and the dog walker heard it from other dogs.
🤣
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#9827532 - 06/04/20 01:25 PM
Re: I started a blog (real estate)
[Re: Riskhe Business]
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Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45657
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DEVELOPING STORY: According to sources:
@CMHC_ca
will announce lower debt ratio limits and higher credit score minimums for its insured mortgages, and ban borrowed down payments. If our sources are correct, this news could drop soon. The Spy will give you the scoop once it does.
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#9828188 - 06/05/20 05:23 AM
Re: I started a blog (real estate)
[Re: Riskhe Business]
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furball
Post Master Sr
Registered: 09/24/03
Posts: 9534
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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Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45657
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Yep, we are back in a buying frenzy 
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#9833399 - 06/11/20 12:56 PM
Re: I started a blog (real estate)
[Re: Riskhe Business]
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Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45657
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Market is on absolute fire this week, jfc. Lots of confidence out there.
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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: 29176
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.
_________________________
-Jeff
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#9834682 - 06/13/20 07:28 AM
Re: I started a blog (real estate)
[Re: JEFFOS]
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Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45657
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The Manhattan comment, while true my only criticism to it is that there is a massive pay disparity. In particular for the large amount of tech jobs coming into the downtown core the pay between Toronto vs. SF/Seattle is signficantly lower (which is why the jobs are coming here). But what gets 200k USD in SF is in the 100k CAD range (more or less). Good pay, but it's paycheque to paycheque living on a 700k condo. To the moon.
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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: 19310
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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Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45657
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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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Riskhe Business
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Registered: 05/17/10
Posts: 45657
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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: Riskhe Business]
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Riskhe Business
Provides a Great Work Environment.
Post Master Supreme
Registered: 05/17/10
Posts: 45657
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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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