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#10553038 - 03/07/24 03:33 PM Re: dat real estate v.2021 [Re: Big Tasty]
Risky Business Offline
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Registered: 05/17/10
Posts: 45122
that's amazing

Speaking of real estate, i just lost in a bidding war on this property.

Probably one of the nicest renos I've seen in a while, definitely over renovated for the neighbourhood, but damn was this place top notch. Guy had a b7 RS4 in the garage too.

https://housesigma.com/bkv2/landing/root...um=desktop&ign=

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#10553324 - 03/08/24 11:41 AM Re: dat real estate v.2021 [Re: Risky Business]
Simon_the_Pieman Offline
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Registered: 08/13/01
Posts: 9474
Loc: The A
yeesh beauty renos
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"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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#10578999 - 05/22/24 10:22 AM Re: dat real estate v.2021 [Re: Simon_the_Pieman]
furball Offline
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Registered: 09/24/03
Posts: 9496
Loc: Toronto, ON
https://finance.yahoo.com/news/bank-regulator-canada-warns-housing-144333249.html

 Quote:
Bank Regulator in Canada Warns of Housing-Payment Shock by 2026
Canada’s banking watchdog warned that many homeowners who took out mortgages when rates were near zero during the pandemic will soon face a reckoning as those loans renew.

The “payment shock” faced by some borrowers is among the most important risks currently in the financial system, according to the latest risk outlook from the Office of the Superintendent of Financial Institutions, released Wednesday.

The regulator said that 76% of outstanding residential mortgages as of February will be coming up for renewal by the end of 2026. Most worrisome are the 15% of mortgages that have variable rates with fixed payments. Some of those loans are negatively amortizing — that is, the regular payments no longer cover the full interest costs because rates have gone up so quickly, so the principal balance is increasing.

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#10579166 - 05/22/24 12:45 PM Re: dat real estate v.2021 [Re: furball]
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Same song and dance as every year.

Sellers in the GTA have proven resilient and buyers are still out there. There is going to be no shock when people have 2 years to do something about their renewal. I've already sold a couple properties where people were starting to drown.

Market is very much trading sideways now like it was in 2023, more or less this is our crash, rather than the annualized 8% appreciation we've been spoiled to see for the last 16 years.

Parts of Markham at all time highs, same with parts of Durham, the only real part of RE that's really in the shitter are downtown condos (commoditized units), the nice ones are still moving.

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#10580871 - 05/27/24 02:44 PM Re: dat real estate v.2021 [Re: Risky Business]
LNXGUY Moderator Offline
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Registered: 08/06/00
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Loc: Barrie, Ont,
Not looking forward to 2025 and my renewal.
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The GN would OWN you, your children and your children's children.
'09 E90 335d

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#10583287 - 06/03/24 01:38 PM Re: dat real estate v.2021 [Re: LNXGUY]
furball Offline
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Registered: 09/24/03
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Loc: Toronto, ON

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#10583334 - 06/03/24 04:01 PM Re: dat real estate v.2021 [Re: furball]
Simon_the_Pieman Offline
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https://www.realtor.ca/agent/2158124/aza...-ontario-m3b0a7
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"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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#10583497 - 06/04/24 08:31 AM Re: dat real estate v.2021 [Re: Simon_the_Pieman]
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desperate times, desperate measures.
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#10583571 - 06/04/24 11:19 AM Re: dat real estate v.2021 [Re: Risky Business]
LNXGUY Moderator Offline
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Two houses just sold in my neighbourhood. Not surprised they sold within 2-3 days, popular place to be apparently and not a lot of houses come up for sale here. I believe both sold for 950k.
_________________________
-Bill
The GN would OWN you, your children and your children's children.
'09 E90 335d

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#10583624 - 06/04/24 02:19 PM Re: dat real estate v.2021 [Re: Simon_the_Pieman]
c2k Moderator Offline
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Registered: 05/21/00
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 Originally Posted By: Simon_the_Pieman
https://www.realtor.ca/agent/2158124/azadeh-namvarrad-1396-don-mills-rd-unit-b-121-toronto-ontario-m3b0a7


that's not the link to her onlyfans page
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#10583656 - 06/04/24 03:14 PM Re: dat real estate v.2021 [Re: LNXGUY]
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 Originally Posted By: LNXGUY
Two houses just sold in my neighbourhood. Not surprised they sold within 2-3 days, popular place to be apparently and not a lot of houses come up for sale here. I believe both sold for 950k.


Lucky sellers, it's cooling off quickly here, pocket dependent, but overall the GTA is slowing down faster than seasonal.

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#10583669 - 06/04/24 04:03 PM Re: dat real estate v.2021 [Re: Risky Business]
SuPeR-MaRiO Offline
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Registered: 06/28/01
Posts: 6161
Loc: Toronto, Ontario
Looks like she deleted her IG and only a day ago posted about hate in her DMs


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#10583670 - 06/04/24 04:04 PM Re: dat real estate v.2021 [Re: SuPeR-MaRiO]
SuPeR-MaRiO Offline
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Registered: 06/28/01
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Loc: Toronto, Ontario
And now her Realtor.ca profile is gone
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#10583894 - 06/05/24 08:47 AM Re: dat real estate v.2021 [Re: SuPeR-MaRiO]
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Probably suspended by RECO, dumbass agent. They will make an example out of her, brokerage dropped her.
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#10589241 - 06/18/24 06:05 AM Re: dat real estate v.2021 [Re: Risky Business]
furball Offline
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Registered: 09/24/03
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Loc: Toronto, ON
Interesting piece…” Sally Thompson, the author of Condo Questions and Answers: What you can do about the 40+ most common–and unexpected–condo problems, is a civil engineer”

https://www.theglobeandmail.com/real-est...ondo-ownership/


Edited by furball (06/18/24 06:07 AM)

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#10589578 - 06/18/24 11:36 PM Re: dat real estate v.2021 [Re: furball]
Hatorade Offline
pheggit
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Registered: 11/05/99
Posts: 26897
Loc: Toronto, ON
 Originally Posted By: furball
Interesting piece…” Sally Thompson, the author of Condo Questions and Answers: What you can do about the 40+ most common–and unexpected–condo problems, is a civil engineer”

https://www.theglobeandmail.com/real-est...ondo-ownership/


Absolutely nothing she said is not already known. Water is wet y'all!!!
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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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#10589682 - 06/19/24 09:38 AM Re: dat real estate v.2021 [Re: Hatorade]
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Thanks for the article, I ordered the book and will read it. Reached out to author to see if she will do a long form interview for my YT channel.
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#10589718 - 06/19/24 10:48 AM Re: dat real estate v.2021 [Re: Risky Business]
Big Tasty Offline
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Registered: 02/10/02
Posts: 19772
Loc: Toronto
Pay wall, what's the jist of it?
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#10589721 - 06/19/24 10:54 AM Re: dat real estate v.2021 [Re: Big Tasty]
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People are completely unaware of the risks with condos, she touches on new builds vs old builds from an engineering perspective like what the differences are in parking garages based on changes in construction code, where the risks are based on age of building. She talks about how maintenance fees are severely understated with new builds and then people get shocked when they go up 50%+ in the first 3 years post occupancy (this is well known in industry), etc.

Pretty interesting and she is an engineer so for me I've always wanted to know that perspective. I've also thought about starting a company that provides condo grading for clients. Let's say you want to buy in a certain building, as part of your DD you can pay for a 'grading' so you know how the building in its current form stacks up to the competition as its all relative. Pretty certain people will pay for it, just a matter of finding the time/partner to pull all the data/framework around it.

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#10589768 - 06/19/24 11:45 AM Re: dat real estate v.2021 [Re: Risky Business]
Big Tasty Offline
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Registered: 02/10/02
Posts: 19772
Loc: Toronto
Thx, ya the same thing happened to my wife (before we met) when she got her first condo. Shortly after she moved in the condo fees went up by a substancial amount and it wasn't even a recent new build.
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#10589773 - 06/19/24 12:02 PM Re: dat real estate v.2021 [Re: Big Tasty]
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Things are much much worse now, but it's all hush hush. If you are public about any condo downtown the condo boards will send you a cease and desist letter from their law firm within 48 hours.

When it comes to condos you better be working with someone who knows these in and out.

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#10589915 - 06/19/24 07:46 PM Re: dat real estate v.2021 [Re: Risky Business]
Hatorade Offline
pheggit
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Registered: 11/05/99
Posts: 26897
Loc: Toronto, ON
Condos are sneaky. They will purposely suppress maint fee hikes for the first few years and then bam!!!

That's why it is so important to only buy with a reputable builder to mitigate risks.
_________________________

'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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#10593220 - 06/27/24 10:52 PM Re: dat real estate v.2021 [Re: Hatorade]
JEFFOS Online   mad
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Registered: 01/27/00
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Also the maintenance contracts are a racket too. (Organized)
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#10593269 - 06/28/24 06:29 AM Re: dat real estate v.2021 [Re: JEFFOS]
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^ I know someone who owns one of those companies, drives an Aventador lol
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#10593627 - 06/28/24 09:19 PM Re: dat real estate v.2021 [Re: Risky Business]
Hatorade Offline
pheggit
Post Master Supreme


Registered: 11/05/99
Posts: 26897
Loc: Toronto, ON
 Originally Posted By: Risky Business
^ I know someone who owns one of those companies, drives an Aventador lol


Poor guy. If business was blooming he would be in a contach LPI 800-4 :P
_________________________

'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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#10595116 - 07/03/24 01:38 PM Re: dat real estate v.2021 [Re: Hatorade]
furball Offline
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Registered: 09/24/03
Posts: 9496
Loc: Toronto, ON
This guy posts a bunch of RE loss porn ... https://x.com/ShaziGoalie
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#10595305 - 07/04/24 06:44 AM Re: dat real estate v.2021 [Re: furball]
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I have him on mute, just ripped off content from reddit.
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#10595427 - 07/04/24 04:57 PM Re: dat real estate v.2021 [Re: Risky Business]
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here, some stats on the ongoing GTA housing "collapse"

https://youtu.be/1vHZ9SYxbfo?si=IqjGc7KhZiC62uC0

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#10600857 - Today at 08:48 AM Re: dat real estate v.2021 [Re: Risky Business]
furball Offline
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Registered: 09/24/03
Posts: 9496
Loc: Toronto, ON
https://www.instagram.com/p/C9fG8SFRxpR/

"19 people living in a 3 bedroom townhouse in Brampton"

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#10601259 - Today at 02:33 PM Re: dat real estate v.2021 [Re: furball]
c2k Moderator Offline
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Registered: 05/21/00
Posts: 19296
Loc: Wiesloch-Walldorf, Germany
will someone please think of the real estate investors?!
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