News   Dec 20, 2024
UrbanToronto Year-End Poll: Vote on the Best Buildings of 2024, presented by Sapphire Balconies
 1.1K     5 
News   Dec 20, 2024
UrbanToronto's Social Media Presence Skyrocketed in 2024
 834     2 
News   Dec 20, 2024
Mattamy Homes Records A Year of Accomplishments
 1.7K     0 

Baby, we got a bubble!?

With the surge in the $INDU today, a new P&F pattern has emerged: bear trap with a target of 12200.

The Year of the Rabbit is coming in just 2 months--get out there and make some coin, will y'all?:D

(Massive surge in new condo sales coming? Apparently NXT phase 2 sold 230 units in one night, that's nuts! Looks like the Chinese money is skipping Vancouver for Toronto.)
 
Last edited:
Tune into Rogers TV's Inside Toronto Real Estate on Wednesday, December 1st 2010 at 7:00 PM as we investigate which markets are the poised for growth.

The housing market in Canada is starting to slow down, but some areas will grow faster than others.

If you are considering buying real estate or thinking that is time to sell you must watch this show.

Host Brian Persaud will lead a discussion with Don R Campbell Canada's most trusted source for real estate analysis. Don is a real estate investment specialist and has been studying the housing market for almost 20 years....and he knows what areas are hot, where the opportunities are and what you need to consider before you make any real estate decision.


Viewers are encouraged to call 416.446 7090 or email insidetorealestate@rogerstv.com and ask the panel questions

Each week Inside Toronto Real Estate takes a look at the Toronto Real Estate market, mortgages, property values, legal issues and everything you need to know before and after you sign on the dotted line of your home purchase. Each week, host Brian Persaud talks with industry experts to help potential buyers fulfill their dream of owning a home or condo.

Inside Toronto Real Estate airs Wednesdays at 7:00 PM only on Rogers TV ( Cable 10 in Toronto and Cable 63 in Scarborough) and repeats Thursdays at 2 PM. For complete broadcast details, please visit www.rogerstv.com/ITRE
 
CN Tower said:
What if what you're looking for isn't on the market today but might be tomorrow?
Click to expand...

One REALTOR I used came back with a pair of properties, a brief zoning analysis, and a very rough estimate from their contractor friend as possibilities.

We went from there.


At very least I would expect them to either be frank and tell me what I want isn't available suggesting ways to cull my expectations or not wasting my time taking me out until such things are available.

They most certainly should not be taking me out to see units they know don't fit my requirements without telling me that upfront. I hire a realtor as a buyer to reduce my own time investment. If I wanted to see/research the thousands of options myself then I would probably just join TREB.
 
A family member is currently looking for an upscale condo. It seems to her and her agent that sales are continuing, but sales definitely have gone down in the last several months, and prices have to a certain extent reflected that.

To put it another way, prices were selling at asking, or even higher. Now, many units have been listed even higher in response, but they're not selling at those higher prices. IOW prices have either plateaued or else softened a few percent. However, it seems to them that the market is actually relatively balanced at the moment... but its still a heluvalot more expensive than it was a few years ago, and 2005 prices seem like ancient history.

The question is whether or not the price softening will stop here, or if the pendulum will swing back much more. My personal prediction is that prices will hold through spring 2011. Perhaps things will start to change in the summer.
 
What I have heard is that things priced correctly (at market or close) is selling quickly. As well, anything that is descent is going but not at inflated prices. Even in multiple bids, things are going at full ask or slightly below. Only rarely are they going above ask and if so by a couple of thousand dollars, not the $10's or even $100's of thousands over.

The problem recurrent seems to be that some inventory is selling within a couple of weeks and alot is sitting x months++. I guess the slower market means that less desirable product does not sell or waits until priced more to reflect this. Good product is still highly sought despite the changing market conditions
 
http://www.condovultures.com/home/7778-buyers-net-big-discounts-at-related-condo-tower-auction.html

I point out this article relating to the discussion of just how bad some situations are in Florida. In this case in Ft. Myers, the 3 bedroom units were being auctioned absolutely. New projects: Price range $400 to 800K with likely closer to 800K as the larger units were being auctioned. Look at the prices: $150-160K. That is possibly as low as 20-38% of original ask or discounts of 62 to 80% on NEW. Note, not directly Ocean I don't believe but with views. Look up the project.
 
interested said:
The problem recurrent seems to be that some inventory is selling within a couple of weeks and alot is sitting x months++. I guess the slower market means that less desirable product does not sell or waits until priced more to reflect this. Good product is still highly sought despite the changing market conditions
Click to expand...


as simuls said, that is always the case ...
3 main factors and it's not all location x 3 ... a good product, priced well, at a desirable location.
 
I agree.
The point I was trying to eschew is that previously everything good bad and ugly sold.
Now the market seems to be showing some discretion.
 
The perils of overpricing, even in a seller's market.

There is a luxury home not too far from where I live. It was listed for almost $2 million back in 2007. It had a lot of land, but the house, although big, wasn't really of that calibre for the price IMO. It didn't sell. In 2008 it was listed for $1.9 million, which seemed crazy after the mild real estate downturn. After the market perked back up it stayed at that price for a while, but then was dropped to $1.8 million. Now it's $1.7 million, a 16% drop in price since 2007 and it's still just sitting there, despite the fact that the average prices in Toronto have increased 10%+ since 2007.

Judging by the land size and the pics, I think it's priced OK now, and maybe even slightly on the lower range of OK. However, had it been priced at $1.7 million back in 2007 I think it would have sold reasonably quickly.
 
So when the 50/200 weekly crossover on the $INDU happens sometime next Spring (target 14500 area), will Bay St fat cats etc feel like buying real estate?

Spring 2011 is gonna be CRAZY.

(Why am I turning so bullish? Everyone is joining in on the bear bandwagon here, which means they're wrong!)
 
Last edited:
In my area, there are a couple of mini McMansions that were built on relatively small plots of land during the boom. One of them has just sold for $1.1 million, initially priced around $1.6 million. The other house was priced near 1.8 and is now asking for 1.2. Ouch!
 
Yoshimura said:
In my area, there are a couple of mini McMansions that were built on relatively small plots of land during the boom. One of them has just sold for $1.1 million, initially priced around $1.6 million. The other house was priced near 1.8 and is now asking for 1.2. Ouch!
Click to expand...

where would that be?
i saw alot of razing and rebuilding throughout the city
 
You must log in or register to post here.

Back
Top