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#10060567 - 05/20/21 11:14 AM Re: dat real estate v.2021 [Re: Risky Business]
Big Tasty Offline
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Registered: 02/10/02
Posts: 18929
Loc: Toronto
Next door neighbour just told me he is putting the house up for sale and moving to a cheaper market. We weren't close but the family was quiet and kept their place up. Now who knows who we'll get, would think that price alone would leave out the scum but we've seen people renting out their basements to cover costs and that comes with pain in itself.

Hoping it doesn't turn into a teardown rebuild as we've seen a lot of that in the area with the smaller A-frame houses but this is a 4+2 bdrm unit so hoping it's a nice single family that gets it.

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#10060629 - 05/20/21 12:16 PM Re: dat real estate v.2021 [Re: Big Tasty]
Risky Business Offline
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No need to worry about tear downs, no builder/investor is buying in this market.

You are probably going to get a young family looking for more space for their kids (which is 90%+ of buyers right now).

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#10060643 - 05/20/21 12:32 PM Re: dat real estate v.2021 [Re: Risky Business]
Simon_the_Pieman Offline
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Registered: 08/13/01
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Loc: The A
 Originally Posted By: Risky Business
No need to worry about tear downs, no builder/investor is buying in this market.

You are probably going to get a young family looking for more space for their kids (which is 90%+ of buyers right now).


or multiple families living in one roof with a gazillion cars on the driveway and street
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#10060649 - 05/20/21 12:39 PM Re: dat real estate v.2021 [Re: Simon_the_Pieman]
Risky Business Offline
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That's definitely a concern, but IIRC Big Tasty is in Scarborough (older/smaller homes). The multi family scenario plays out mostly in the biggest possible home on the smallest lot. They don't like smaller/older homes since you can fit less people lol...but it's definitely not out of question. Multi fam love their cookie cutter 905 homes, looking directly at Brampton \:D
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#10060658 - 05/20/21 12:48 PM Re: dat real estate v.2021 [Re: Risky Business]
Screamin Type ARGH! Offline
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https://www.reddit.com/r/funny/comments/nh27dy/someone_in_toronto_put_this_up/



lmao rekt
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#10066249 - 06/01/21 07:28 AM Re: dat real estate v.2021 [Re: Screamin Type ARGH!]
Risky Business Offline
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Registered: 05/17/10
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New Stress test rules in effect starting today, in theory this drops purchasing power by 5%, let's see if it translates into a price reductions across listings (doubt it).
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#10077137 - 06/21/21 01:32 PM Re: dat real estate v.2021 [Re: Risky Business]
furball Offline
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Registered: 09/24/03
Posts: 9420
Loc: Toronto, ON
"Austin TX: There are more Realtors than homes for sale. Follow one trying to close his first deal"

8 realtors to everyone 1 home for sale

https://www.cnn.com/videos/business/2021...ig.cnn-business



Edited by furball (06/21/21 01:33 PM)

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#10077350 - 06/21/21 07:26 PM Re: dat real estate v.2021 [Re: furball]
Hatorade Offline
pheggit
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Registered: 11/05/99
Posts: 26886
Loc: Toronto, ON
Lost 2 offers trying to purchase a 2 bedroom condo in Markham. Yup that stress test is really cooling the market!!!
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'02 Rota Grid - 195-55-16FR (RIP)
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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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#10077455 - 06/22/21 05:59 AM Re: dat real estate v.2021 [Re: Hatorade]
Risky Business Offline
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Registered: 05/17/10
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WTF

Downtown condo market has calmed down, definitely a bit of a lull and showings trending down since lifting of lock down - everyone enjoying the weather and patios. I am actually trying to pick up a unit for myself this week as sellers are a bit more nervous...although this is temporary. Government press released that they are starting to let immigrants in, students are starting to trickle back, gut feel condos will go up again especially if rents start going up faster.

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#10078097 - 06/22/21 09:48 PM Re: dat real estate v.2021 [Re: Risky Business]
Hatorade Offline
pheggit
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Registered: 11/05/99
Posts: 26886
Loc: Toronto, ON
Yup great time to purchase downtown. Prices are still well below what they should be.
_________________________

'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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#10078164 - 06/23/21 05:04 AM Re: dat real estate v.2021 [Re: Hatorade]
Risky Business Offline
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Put in offer irrevocable until 9pm tonight, let's see.
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#10078199 - 06/23/21 07:57 AM Re: dat real estate v.2021 [Re: Risky Business]
SuPeR-MaRiO Offline
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Registered: 06/28/01
Posts: 5885
Loc: Toronto, Ontario
What's the feedback from our resident realtors?

 Quote:
They lost a bidding war to buy the house in March of 2020, but days later the seller, who was also the listing real estate agent, contacted them to say they could buy it as long as they increased their offer and waived getting a home inspection.


Dream home becomes nightmare for Ontario family who passed on home inspection

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#10078207 - 06/23/21 08:22 AM Re: dat real estate v.2021 [Re: SuPeR-MaRiO]
Risky Business Offline
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Registered: 05/17/10
Posts: 43224
Play stupid games, win stupid prizes. This is entirely on the buyer and their realtor, but the buck stops with the buyer.

I've dealt with similar estate homes like this in Stouffville, if client is serious we are paying for an inspection before offer night, asking for water tests for financing, etc. A lot of times the selling agent will have the info up front anyway. The fact that he didn't is already suspect and of all the conditions to ask them to waive inspection just has red flags all over it.

Every home needs something unless you are buying brand new (even then warranty claims). So you have to go with that in mind, then it's a sliding scale of your risk tolerance.

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#10078212 - 06/23/21 08:34 AM Re: dat real estate v.2021 [Re: Risky Business]
SuPeR-MaRiO Offline
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Registered: 06/28/01
Posts: 5885
Loc: Toronto, Ontario
I was going to say that in this market I'm guessing inspections are being waived left right and center. But you have a point that the inspection can be made ahead of offer night.
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#10078214 - 06/23/21 08:39 AM Re: dat real estate v.2021 [Re: SuPeR-MaRiO]
Risky Business Offline
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Registered: 05/17/10
Posts: 43224
Every offer night I've held I've provided a reputable inspection up front for the listing to save everyone the bullshit, but also because I want firm offers only. The crazy part is that all people making offers only a few of their realtors request the inspection for review, others don't even ask and just put it in firm unconditional offers.

You can lead a horse to water, can't make it drink.


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#10078273 - 06/23/21 09:50 AM Re: dat real estate v.2021 [Re: Risky Business]
Hatorade Offline
pheggit
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Registered: 11/05/99
Posts: 26886
Loc: Toronto, ON
 Originally Posted By: Risky Business
Every offer night I've held I've provided a reputable inspection up front for the listing to save everyone the bullshit, but also because I want firm offers only. The crazy part is that all people making offers only a few of their realtors request the inspection for review, others don't even ask and just put it in firm unconditional offers.

You can lead a horse to water, can't make it drink.



Define reputable inspection? The issue with home inspections is that it's not regulated. If I'm on the buying side and inspection report is available I'll ask for it, but I don't trust it. Shit could be biased. Honestly Sellers inspection reports don't add much value, but good for optics.
_________________________

'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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#10078298 - 06/23/21 10:03 AM Re: dat real estate v.2021 [Re: Hatorade]
Risky Business Offline
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Registered: 05/17/10
Posts: 43224
 Originally Posted By: Hatorade
 Originally Posted By: Risky Business
Every offer night I've held I've provided a reputable inspection up front for the listing to save everyone the bullshit, but also because I want firm offers only. The crazy part is that all people making offers only a few of their realtors request the inspection for review, others don't even ask and just put it in firm unconditional offers.

You can lead a horse to water, can't make it drink.



Define reputable inspection? The issue with home inspections is that it's not regulated. If I'm on the buying side and inspection report is available I'll ask for it, but I don't trust it. Shit could be biased. Honestly Sellers inspection reports don't add much value, but good for optics.


Neighbourhood specific, in EY/Beaches there are 2-3 guys there that are very well known and trusted and know the old/war home era homes in/out. If they provide an inspection on behalf of the Seller you can definitely trust it.

Better yet anyone who provides a Carson Dunlop inspection, you know it's legit and it's the 'gold standard', possibly even better than what an average buyer's inspector will do.

Lastly if the inspection is from a 'nobody' then I agree with you, but even then you can still cross reference with OAHI. If that's not satisfactory you still have time to do your own. Let's also not forget an inspection can only uncover so much, short of pulling drywall out you are taking on *some* risk.

There is no excuse for people buying without an inspection, that's entirely on the buyer/buyer relator.

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#10078338 - 06/23/21 10:44 AM Re: dat real estate v.2021 [Re: Risky Business]
Risky Business Offline
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Registered: 05/17/10
Posts: 43224
 Originally Posted By: Risky Business
Put in offer irrevocable until 9pm tonight, let's see.


boom, bought below market. They accepted.

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#10082803 - 06/30/21 02:08 PM Re: dat real estate v.2021 [Re: Risky Business]
Risky Business Offline
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Registered: 05/17/10
Posts: 43224
This better come to fruition as this 1 bed condo purchase was a complete timing play for this anticipated rebound. Crazy to see the amount of decent deals we have right now on condos. Let's see if that remains if the demand for rentals keeps increasing as it has over the last few weeks.

Toronto rental market could see major rebound this fall: Rentals.ca

https://www.livabl.com/2021/06/toronto-rental-market-major-rebound-fall.html

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#10083820 - 07/01/21 09:29 PM Re: dat real estate v.2021 [Re: Risky Business]
A2B-Lexus Offline
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Registered: 04/19/01
Posts: 45548
Loc: Raptors Land
I got into my area (McCowan/16) for 1.1M less than 2 years ago. A house across 3 houses down sold for 1.9M.

We need to be here because we need to be close to family but man, it sure is tempted to cash out and buy slightly smaller to capitalize.

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#10083883 - 07/02/21 06:15 AM Re: dat real estate v.2021 [Re: A2B-Lexus]
Risky Business Offline
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Registered: 05/17/10
Posts: 43224
A lot of people I know with multiple properties dumped at least one over the last 6 months. This run up has been insane.

Are you in Wismer? It's been popping off there, no inventory. It's really the same across the board everywhere. Your old hood in Cornell has gone nuts too, nothing is affordable.

Markham is a drop in the bucket though, you want crazy, go to Guelph/Kitchener, I saw a stat that the price appreciation they've seen in the last 3 years outpaces the price appreciation they had in the prior 37 years.

A detached in KW is 1.2M now in the middle of nowhere.

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#10084005 - 07/02/21 10:25 AM Re: dat real estate v.2021 [Re: Risky Business]
Simon_the_Pieman Offline
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Registered: 08/13/01
Posts: 9333
Loc: The A
 Originally Posted By: Risky Business


A detached in KW is 1.2M now in the middle of nowhere.


whats the condo market look like in KW?
_________________________
"I'd love it if we did it... but I guess I'm a big skeptic on Canadians because so many are retarded as fuck." - 355-Si, 2020

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#10084064 - 07/02/21 11:29 AM Re: dat real estate v.2021 [Re: Simon_the_Pieman]
Risky Business Offline
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Registered: 05/17/10
Posts: 43224
Not too sure as I haven't followed, but I am assuming as of right now it's probably ripping. My brokerage just sold out a pre con development in Kingston for $1,000 a foot.....IN KINGSTON
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#10084415 - 07/02/21 09:49 PM Re: dat real estate v.2021 [Re: Risky Business]
A2B-Lexus Offline
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Registered: 04/19/01
Posts: 45548
Loc: Raptors Land
I am off The Bridle Walk just North of 16th. I wish I had a 2nd property to dump.

Too bad my old hood is crazy now too.....if there difference was enough for us to be in the same house and mortgage free, could have convinced my wife it would be a good idea to move with 2 kids.

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#10084503 - 07/03/21 09:39 AM Re: dat real estate v.2021 [Re: Risky Business]
A2B-Lexus Offline
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Registered: 04/19/01
Posts: 45548
Loc: Raptors Land
 Originally Posted By: Risky Business
Not too sure as I haven't followed, but I am assuming as of right now it's probably ripping. My brokerage just sold out a pre con development in Kingston for $1,000 a foot.....IN KINGSTON


Only Queens is there. Unless you are an university student or mental, there is no reason to be in Kingston.

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#10085053 - 07/06/21 04:58 AM Re: dat real estate v.2021 [Re: A2B-Lexus]
Risky Business Offline
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Registered: 05/17/10
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^ Pretty much.

On the topic of downtown condows, I pulled up the latest stats and the stats are glorious. Listings flat, offers up, showings up, days on market down. Condo rentals are about to make a rebound ;\)


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#10085054 - 07/06/21 05:00 AM Re: dat real estate v.2021 [Re: A2B-Lexus]
Risky Business Offline
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Registered: 05/17/10
Posts: 43224
 Originally Posted By: A2B-Lexus
I am off The Bridle Walk just North of 16th.


Nice, that pocket has always been hot especially with the Asians!

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#10085224 - 07/06/21 10:50 AM Re: dat real estate v.2021 [Re: Risky Business]
Screamin Type ARGH! Offline
Honda CEO's personal fluffer
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Registered: 02/20/01
Posts: 46626
Loc: T.O. - Canaduh
 Originally Posted By: Risky Business
A lot of people I know with multiple properties dumped at least one over the last 6 months. This run up has been insane.

Are you in Wismer? It's been popping off there, no inventory. It's really the same across the board everywhere. Your old hood in Cornell has gone nuts too, nothing is affordable.

Markham is a drop in the bucket though, you want crazy, go to Guelph/Kitchener, I saw a stat that the price appreciation they've seen in the last 3 years outpaces the price appreciation they had in the prior 37 years.

A detached in KW is 1.2M now in the middle of nowhere.


this is ret*rded wow
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"Ban low performance drivers, not high performance cars"

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#10085653 - 07/06/21 09:42 PM Re: dat real estate v.2021 [Re: Risky Business]
A2B-Lexus Offline
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Registered: 04/19/01
Posts: 45548
Loc: Raptors Land
 Originally Posted By: Risky Business
 Originally Posted By: A2B-Lexus
I am off The Bridle Walk just North of 16th.


Nice, that pocket has always been hot especially with the Asians!


The school zone is probably what is driving up the prices. Its a solid 26 minutes walk from my place. I am hoping by the time the kids need to go to high school, there will still be enough wfh flexibility for us to drive them.

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#10085683 - 07/07/21 05:08 AM Re: dat real estate v.2021 [Re: A2B-Lexus]
Risky Business Offline
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Registered: 05/17/10
Posts: 43224
My wife is a teacher in the immediate area, like most Markham schools they are great, the community of people there make it what it is.

You have a culture of people who highly value academics, who are involved, have resources, and teach their kids to respect the teachers. It's a really good dynamic you naturally get some of the best teachers working with an involved parent group and there is mutual respect going both ways. You write feedback about the kids and the parents act on it right away rather than argue or try to blame the teacher if their kid isn't the superstar that they thought he/she was.

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#10085694 - 07/07/21 07:13 AM Re: dat real estate v.2021 [Re: Risky Business]
furball Offline
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Registered: 09/24/03
Posts: 9420
Loc: Toronto, ON
Asians don't fuck around (Yes, there are non-Asians in the area too.)

I heard stories about teachers getting death threats 'n shit, and there's absolutely NOTHING the school boards, or even the teacher's union can do (Story went, some white trailer trash girl in Mississauga school said she's going to go home, grab a knife, and stab her teacher (said it to teacher's face.) Principal took the kid out of school, but that was it... Kid returned back to the same class apparently, which sounds real odd.)

Meanwhile in Markham, beatdowns with the bamboo cane if you mouth off, then you're driven in Mommy's Porsche Cayenne to school, or walk to school in your Gucci slides

 Originally Posted By: Risky Business
You write feedback about the kids and the parents act on it right away rather than argue or try to blame the teacher if their kid isn't the superstar that they thought he/she was.

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#10086280 - 07/07/21 09:33 PM Re: dat real estate v.2021 [Re: Risky Business]
A2B-Lexus Offline
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Registered: 04/19/01
Posts: 45548
Loc: Raptors Land
 Originally Posted By: Risky Business
My wife is a teacher in the immediate area, like most Markham schools they are great, the community of people there make it what it is.

You have a culture of people who highly value academics, who are involved, have resources, and teach their kids to respect the teachers. It's a really good dynamic you naturally get some of the best teachers working with an involved parent group and there is mutual respect going both ways. You write feedback about the kids and the parents act on it right away rather than argue or try to blame the teacher if their kid isn't the superstar that they thought he/she was.


Yeah...Asians do value academics.

Once my kids are school age, will keep an eye out for Ms. Vas with black circle around the face. \:D

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#10086281 - 07/07/21 09:36 PM Re: dat real estate v.2021 [Re: Risky Business]
A2B-Lexus Offline
Post Master Supreme


Registered: 04/19/01
Posts: 45548
Loc: Raptors Land
 Originally Posted By: Risky Business
^ Pretty much.

On the topic of downtown condows, I pulled up the latest stats and the stats are glorious. Listings flat, offers up, showings up, days on market down. Condo rentals are about to make a rebound ;\)



My cousin closed on a shoebox condo in Liberty Village last month. I was down there a couple of weeks ago for the first time in years and I seriously don't see the attraction of living at Liberty Village. At least City Place, I can walk home from work. Liberty Village feels like New York but NO subway infrastructure to get people in and out of there in the masses.

My 20 years younger self would probably love walking around with a dog checking out the eye candy.

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#10086347 - 07/08/21 08:19 AM Re: dat real estate v.2021 [Re: A2B-Lexus]
Risky Business Offline
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Registered: 05/17/10
Posts: 43224
Liberty is 905 transplant central, not my first choice for a condo, but for first time investors the prices are the cheapest there. You are right on all accounts, logistically not the best. Neither is City Place, which has its own share of issues, I like East City Place, but west of Spadina you have to be careful as the buildings there have a number of issues.

King West/Bay Corridor is where it's at, in my biased opinion. If you are searching for value, have to look a bit east of Yonge.

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#10086640 - 07/08/21 02:58 PM Re: dat real estate v.2021 [Re: Risky Business]
Hatorade Offline
pheggit
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Registered: 11/05/99
Posts: 26886
Loc: Toronto, ON
 Originally Posted By: Risky Business
Liberty is 905 transplant central, not my first choice for a condo, but for first time investors the prices are the cheapest there. You are right on all accounts, logistically not the best. Neither is City Place, which has its own share of issues, I like East City Place, but west of Spadina you have to be careful as the buildings there have a number of issues.

King West/Bay Corridor is where it's at, in my biased opinion. If you are searching for value, have to look a bit east of Yonge.


Ugh what? Prices are not cheapest in Liberty. Pricing is similar to the core if not more.
_________________________

'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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