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#10164277 - 11/23/21 02:02 PM Re: dat real estate v.2021 [Re: c2k]
Risky Business Offline
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I don't believe much of that article and I know both of the people quoted in it (realtor and mortgage guy). I will save you the details, I don't know why they keep making up new narratives.

I sold 2 places in the last 30 days and have also bought a couple over the same time period. 4 transactions, 1 was an investor (and it was a condo, which is common with condo buyers). Everybody else in the detached space is for the most part an end user.

The place I sold last week, 52 showings, winning bid was a young couple, first time home buyers. Place before that, same thing.

There is a shortage of active listings, nobody wants to list because they have nowhere to go. You sell a $1M townhouse to move to a 1.6M detached? That's a huge bump in aggregate mortgage so you have people staying put, it's just way too expensive to upgrade. No listings, and this is the end result. investors lol

Would be good to see what Hator is seeing on his end.

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#10164280 - 11/23/21 02:05 PM Re: dat real estate v.2021 [Re: Risky Business]
Risky Business Offline
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Of note, one investor I am actively working with right now that's looking at detached is only looking at places that can't be financed so you eliminate 90% of the competition, so that's not exactly inventory normal people buy. Places such as grow ops, abandoned homes, tenants who won't move out, vacant land, construction projects that ran out of money, etc. I just came back from looking at a meth lab for fuck's sake That's what "investors" look at, not cookie cuter detached in Suburbia.
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#10165244 - 11/26/21 01:38 PM Re: dat real estate v.2021 [Re: Risky Business]
c2k Moderator Offline
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Today at work, I was dumbfounded when my co-worker shared w/ me that she is renting an apartment in the heart of downtown Toronto while still owning a home in Stratford that she goes home to on the weekends. \:o

Is this common practice for folks who are from the suburbia to rent a place in Toronto for a place to stay during the week and to go home in the suburbia on the weekends?
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#10165257 - 11/26/21 02:07 PM Re: dat real estate v.2021 [Re: c2k]
Risky Business Offline
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It's becoming a lot more common now, picked up steam during the pandemic for sure.
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#10170505 - 12/06/21 09:11 PM Re: dat real estate v.2021 [Re: Risky Business]
Risky Business Offline
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Lost a bidding war on a condo tonight, identical unit sold for 620k, 2 months ago. Same unit, couple of floors up, suspect it will sell closer to 690k...what a difference just 2 months makes. We tapped out at 650k.

Why work, just buy condos that appreciate 70k for every 2 months, ffs.

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#10176534 - 12/16/21 07:16 PM Re: dat real estate v.2021 [Re: Risky Business]
Risky Business Offline
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#10176565 - 12/16/21 08:55 PM Re: dat real estate v.2021 [Re: Risky Business]
Big Tasty Offline
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Was driving on the weekend and saw an open house sign. Good to see it come back but I'm sure omicron will shut that back down with the quickness.
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#10176639 - 12/17/21 08:29 AM Re: dat real estate v.2021 [Re: Big Tasty]
furball Offline
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Registered: 09/24/03
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Loc: Toronto, ON
 Originally Posted By: Risky Business
Of note, one investor I am actively working with right now that's looking at detached is only looking at places that can't be financed


https://storeys.com/billions-gta-housing-linked-money-laundering


Edited by furball (12/17/21 08:31 AM)

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#10176931 - 12/17/21 02:37 PM Re: dat real estate v.2021 [Re: furball]
Risky Business Offline
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It's an issue and a big one, construction projects are a favourite for washing money, that's generally where it goes. Then turn up FULL CYCLE.
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#10177335 - 12/19/21 07:34 AM Re: dat real estate v.2021 [Re: Risky Business]
c2k Moderator Offline
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meanwhile, Toronto replaced the parking minimums to parking maximum for new residential developments.

Toronto must really hate cars. It doesn't make sense to do change the parking rules for new developments if there are no public transit infrastructure in place as Toronto aren't exactly shitting out new subway lines on a yearly basis.

I guess their solution is to bike across the city. YOLO.

developers are already loving the change bc it's a cost saving for them and they can sell parking at a premium rate.
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#10177437 - 12/19/21 02:42 PM Re: dat real estate v.2021 [Re: c2k]
BroKe Offline
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Been say for the last few years that there is a war on cars in Toronto. Slowly trickling into the suburbs uptown. Traffic has been a nightmare in the last 6 years.
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#10178673 - 12/22/21 11:22 AM Re: dat real estate v.2021 [Re: BroKe]
c2k Moderator Offline
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I'll believe when i see it happen.

https://nationalpost.com/news/politics/b...9-aaaba52f37bd/
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#10178691 - 12/22/21 11:43 AM Re: dat real estate v.2021 [Re: c2k]
Risky Business Offline
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He must've missed the memo that 'foreign buyers' as per the technical definition are like less than 1%, unless they go after those with PR cards too and the 'students' and 'house wives'.

More garbo solutions.

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#10179211 - 12/23/21 08:54 AM Re: dat real estate v.2021 [Re: Risky Business]
Hatorade Offline
pheggit
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Madness still in full force. Showed a house in Stouffville this past Saturday. House came to market late Friday night so showings didn't start till Saturday 9am. My window was 1pm. At 12:40pm I get a notification that an offer has been registered. By 5pm there are 4 offers. House was listed at $1.388M sold for $1.68M. I pegged this house to be no more than $1.6M

It's going to be a complete shit show starting next month...
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#10179469 - 12/23/21 03:21 PM Re: dat real estate v.2021 [Re: Risky Business]
JEFFOS Offline
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 Originally Posted By: Risky Business
He must've missed the memo that 'foreign buyers' as per the technical definition are like less than 1%, unless they go after those with PR cards too and the 'students' and 'house wives'.

More garbo solutions.


Yup
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#10179470 - 12/23/21 03:23 PM Re: dat real estate v.2021 [Re: c2k]
JEFFOS Offline
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 Originally Posted By: c2k
meanwhile, Toronto replaced the parking minimums to parking maximum for new residential developments.

Toronto must really hate cars. It doesn't make sense to do change the parking rules for new developments if there are no public transit infrastructure in place as Toronto aren't exactly shitting out new subway lines on a yearly basis.

I guess their solution is to bike across the city. YOLO.



developers are already loving the change bc it's a cost saving for them and they can sell parking at a premium rate.


The new parking regulations will help to make Toronto much worse off in the long run. No other infrastructure is in place to get around properly. Itís easy to reduce spaces but will be near impossible to add them.
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#10189413 - 01/11/22 08:52 AM Re: dat real estate v.2021 [Re: JEFFOS]
Risky Business Offline
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One of my tweets last week made it to Canadian Parliament, who knew CSI would be dictating housing policy.

https://twitter.com/PierrePoilievre/status/1478820754904866821?s=20

Housing is in gridlock, emergency status at this point. I unloaded one of my properties in December, taking profit, no idea how long this lasts.

If you have multiple properties, can't think of a better time to unload the dogs. If you have one property hang on to dear life, it's like we are become a class of renters and owners.

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#10195394 - 01/20/22 10:10 AM Re: dat real estate v.2021 [Re: Risky Business]
Risky Business Offline
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Interest rate hike inbound next week, likely won't do shit to this market.
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#10200281 - 01/27/22 08:46 AM Re: dat real estate v.2021 [Re: Risky Business]
Risky Business Offline
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Bank of Canada doesn't jack up rates, real estate will continue to spiral out of control.

Sold one of my properties last month, taking profit. This shit is absolute insanity.

$1.1M for interior townhouse in Keswick.
2M for detached in Brampton/Whitby


Condos are running now, downtown will absolutely rip as the weather gets better.

Couple that with clients with small kids all locking up resale or preconstruction condos now for their kids out of fear of them being priced out. What a time to be alive.

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#10201996 - 01/30/22 03:14 PM Re: dat real estate v.2021 [Re: Risky Business]
A2B-Lexus Offline
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we would need to downsize if we want to help out our kids. Don't think I can rock a rental property. The cost of a 400k-450k mortgage, property taxes, maintenance would be too much.
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#10206211 - 02/06/22 06:32 AM Re: dat real estate v.2021 [Re: Risky Business]
c2k Moderator Offline
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Registered: 05/21/00
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 Originally Posted By: Risky Business
One of my tweets last week made it to Canadian Parliament, who knew CSI would be dictating housing policy.

https://twitter.com/PierrePoilievre/status/1478820754904866821?s=20

Housing is in gridlock, emergency status at this point. I unloaded one of my properties in December, taking profit, no idea how long this lasts.

If you have multiple properties, can't think of a better time to unload the dogs. If you have one property hang on to dear life, it's like we are become a class of renters and owners.


Pierre filed the paperwork to run for the federal CPC leadership.

Could this be another career change for Risky? Risky to run for the MP in Markham? Surely he can do a better job to troll the MPs in the house of commons than most spineless MPs
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#10206214 - 02/06/22 06:44 AM Re: dat real estate v.2021 [Re: c2k]
Risky Business Offline
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Pierre follows me on twitter (wow success), so maybe I can tell him what to do?

Dawes road connects.

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#10207413 - 02/08/22 10:15 AM Re: dat real estate v.2021 [Re: Risky Business]
Screamin Type ARGH! Offline
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Registered: 02/20/01
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 Originally Posted By: Risky Business
Bank of Canada doesn't jack up rates, real estate will continue to spiral out of control.

Sold one of my properties last month, taking profit. This shit is absolute insanity.

$1.1M for interior townhouse in Keswick.
2M for detached in Brampton/Whitby


Condos are running now, downtown will absolutely rip as the weather gets better.

Couple that with clients with small kids all locking up resale or preconstruction condos now for their kids out of fear of them being priced out. What a time to be alive.


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#10207419 - 02/08/22 10:18 AM Re: dat real estate v.2021 [Re: Screamin Type ARGH!]
Risky Business Offline
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East Gwillimbury inside TH sold for 1.45M
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#10207512 - 02/08/22 12:39 PM Re: dat real estate v.2021 [Re: Risky Business]
Big Tasty Offline
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Never heard of East Gwillimbury, looked it up and one of the first things that catches my eye was Bare Oaks Family Naturist Park
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#10207586 - 02/08/22 02:00 PM Re: dat real estate v.2021 [Re: Big Tasty]
Risky Business Offline
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Oshawa north
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#10207751 - 02/08/22 05:08 PM Re: dat real estate v.2021 [Re: Risky Business]
A2B-Lexus Offline
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Loc: Raptors Land
 Originally Posted By: Risky Business
East Gwillimbury inside TH sold for 1.45M
its so out of the way from civilization. GNSP for anyone needing to get downtown for a 9-5.

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#10207759 - 02/08/22 05:24 PM Re: dat real estate v.2021 [Re: A2B-Lexus]
Hatorade Offline
pheggit
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Registered: 11/05/99
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FFS

Lost out on a townhouse over the weekend. Just 2 weeks prior an inside townhouse sold for just over $1M. This one I was trying to win for my clients was a corner lot about the same size... fucking sold for $1.3M and my clients were already willing to go $1.2M

Hate this fucking shit!!!
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'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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#10207775 - 02/08/22 06:04 PM Re: dat real estate v.2021 [Re: Hatorade]
Risky Business Offline
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$1M TH - IS THIS IN ONTARIO??? Jesus, 1.2M should've pulled it relative to last comp for a corner unit. Guess throwing a hundo here a hundo there is no biggy these days for some people. eh 1.2 1.3 what's the big deal.

This will end in tears.

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#10208151 - 02/09/22 10:36 AM Re: dat real estate v.2021 [Re: Risky Business]
c2k Moderator Offline
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 Originally Posted By: Risky Business


This will end in tears.


Not for you and hater. Meanwhile, both of you are lollin' all the way to the bank.
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#10208224 - 02/09/22 11:09 AM Re: dat real estate v.2021 [Re: c2k]
Risky Business Offline
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Contrary to popular belief, it sucks being a realtor right now, probably one of the shittiest times...so I am definitely not lollin'

Give me a balanced market any day.

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#10208482 - 02/09/22 03:12 PM Re: dat real estate v.2021 [Re: Risky Business]
Hatorade Offline
pheggit
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Registered: 11/05/99
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Loc: Toronto, ON
 Originally Posted By: Risky Business
Contrary to popular belief, it sucks being a realtor right now, probably one of the shittiest times...so I am definitely not lollin'

Give me a balanced market any day.


Exactly. It's going to be a tough year to make money.
_________________________

'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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#10208513 - 02/09/22 03:45 PM Re: dat real estate v.2021 [Re: Hatorade]
Risky Business Offline
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Not to mention, 70k realtors in GTA right now, I think 1 for every 88 people and a stat I heard is there are 50k people enrolled at Humber to get their license (not sure if true).

Regardless, what I appreciate about this profession is that it chews people out as fast as it takes them in.

Being a realtor is easy they said, LOTS OF MONEY ThEY SAiD.

I can't wait!

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#10208661 - 02/09/22 07:33 PM Re: dat real estate v.2021 [Re: Risky Business]
Hatorade Offline
pheggit
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Registered: 11/05/99
Posts: 26867
Loc: Toronto, ON
 Originally Posted By: Risky Business
Not to mention, 70k realtors in GTA right now, I think 1 for every 88 people and a stat I heard is there are 50k people enrolled at Humber to get their license (not sure if true).

Regardless, what I appreciate about this profession is that it chews people out as fast as it takes them in.

Being a realtor is easy they said, LOTS OF MONEY ThEY SAiD.

I can't wait!


Yup and over 90% will quit in the first year after they get licensed. Huge money maker for humber LOL
_________________________

'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

Top
#10209673 - 02/11/22 09:34 AM Re: dat real estate v.2021 [Re: Hatorade]
Screamin Type ARGH! Offline
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Registered: 02/20/01
Posts: 45991
Loc: T.O. - Canaduh
 Originally Posted By: Hatorade
 Originally Posted By: Risky Business
Not to mention, 70k realtors in GTA right now, I think 1 for every 88 people and a stat I heard is there are 50k people enrolled at Humber to get their license (not sure if true).

Regardless, what I appreciate about this profession is that it chews people out as fast as it takes them in.

Being a realtor is easy they said, LOTS OF MONEY ThEY SAiD.

I can't wait!


Yup and over 90% will quit in the first year after they get licensed. Huge money maker for humber LOL


jfc should i just list again for 1mil over what we paid? lulz
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