Real Estate

Did we just hit the peak of the Toronto RE bubble?

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  • Nov 13th, 2018 11:07 am
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Member
May 18, 2015
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Thornhill, ON
Today in Thornhill, 16 open house signs on this one corner alone, tons more on other corners in the area, too many to count:

Image
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jonkoktosen wrote:
Apr 23rd, 2017 3:27 pm
Today in Thornhill, 16 open house signs on this one corner alone, tons more on other corners in the area, too many to count:

Image
yes it's expected as the herd tries to cash in after the news... majority of people though are not "motivated" sellers so many of them will drop out like was happening Vancouver shortly after their FBT was announced... will see a mild correction.. then the buyers will be out again when supply/demand balances out again. And see flatline growth.. and again nothing wrong with a housing market that needs time to catch it's breath.

BTW- a nice day out there... lets see if people are ready to buy or not... I dont suspect too many sales but lets see...

In Milton townhomes and semis are still selling pretty strong, much of the single home market has slowed down... I will be interested to see how the sales of these homes do this week.
Last edited by Sanyo on Apr 23rd, 2017 3:33 pm, edited 1 time in total.
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Oct 1, 2011
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jonkoktosen wrote:
Apr 23rd, 2017 3:27 pm
Today in Thornhill, 16 open house signs on this one corner alone, tons more on other corners in the area, too many to count:

Image
heehee. Somebody is named "Kirby Chan".

Did you check any out? It's like window shopping.
Member
May 18, 2015
257 posts
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Thornhill, ON
peanutz wrote:
Apr 23rd, 2017 3:34 pm
heehee. Somebody is named "Kirby Chan".

Did you check any out? It's like window shopping.
Lol. My favorite realtor names in the area are "Doctor Sold Over Asking" and the husband and wife team called "The right Wans".

No, I tried to get the wife to check a couple of them out, but she was more interested in filling our car with trinkets and other various stuff from a garage sale in the area... It was just ending, so the couple said we could help ourselves out to anything we wanted. God help me... But in RFD spirit, I did score a nice Digiwave antenna, brand new, still in the box and some authentic silverware (silver platter and jug)!
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Apr 11, 2017
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rfdchan168 wrote:
Apr 23rd, 2017 11:17 am
Yes, lots of buyers still left. The gov should really kill of the speculators that flip house and add costs to the actual buyers ...

A house assignment can flip 3 4 times before it reaches the actual buyers.. take those speculators out and the same house will be sold at much lower price. The demand is there but price can be a lot lower if gov target the right person.

That should work better than rent control and vacant taxes... and we know that's coming.
As someone who has sold off an assignment it is very difficult to sell - i've never heard of an assignment for a property being sold more than once. Another one of thise anecdotal stories with no backing - if it happens it is very rare.
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Apr 21, 2004
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Decreased listings in my area. Not sure if listings were pulled off or if they were sold.

Will check each mls listing later.

It seems only the super hot Markham and Richmond and maybe Scarborough areas are going bonkers with additional listings.
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alanbrenton wrote:
Apr 23rd, 2017 4:10 pm
Decreased listings in my area. Not sure if listings were pulled off or if they were sold.

Will check each mls listing later.

It seems only the super hot Markham and Richmond and maybe Scarborough areas are going bonkers with additional listings.
Milton has increased listings as well.

It's the spring season so it would naturally be up from jan-feb-march but i dont have numbers in front of me how much by...but definitely an increase for sure. We are seeing the cash out sellers coming out, will be happening for a few weeks here until the unmotivated ones drop out and return back to balanced market for those truly trying to sell for various reasons.
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Apr 11, 2017
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alanbrenton wrote:
Apr 23rd, 2017 4:10 pm
Decreased listings in my area. Not sure if listings were pulled off or if they were sold.

Will check each mls listing later.

It seems only the super hot Markham and Richmond and maybe Scarborough areas are going bonkers with additional listings.
Very quiet in downtown core (i follow the listings around the annex, trinity bellwoods) for low rise housing. Sellers are holding off - not a good idea to sell right now. Let the dust settle.
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Realtor sales pitch -- market has peaked. Sell now!

Previous pitch -- market is peaking. List soon.
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Dec 1, 2008
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I have been living in Milton for 5 years I haven't seen that many open houses in this city. Looks like every person wants to sell. Desperate sellers will bring the market down. Sings are not good. I hope this correction is not a double digit number.
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spdewan wrote:
Apr 23rd, 2017 4:41 pm
I have been living in Milton for 5 years I haven't seen that many open houses in this city. Looks like every person wants to sell. Desperate sellers will bring the market down. Sings are not good. I hope this correction is not a double digit number.
Naw just people reacting to news ... once the news settles down and they realize they don't need to sell they'll take the listings off the market and return to a balanced market
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Sanyo wrote:
Apr 23rd, 2017 4:55 pm
Naw just people reacting to news ... once the news settles down and they realize they don't need to sell they'll take the listings off the market and return to a balanced market
What are they listing at, the top of the historical price range?

Or they going for the low asking price trick?
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alanbrenton wrote:
Apr 23rd, 2017 4:57 pm
What are they listing at, the top of the historical price range?

Or they going for the low asking price trick?
Most are now fairly priced so I assume realtors knows that the bids from few months ago won't be happening now. Like I said lots of semis and smaller detached for sale ... not seeing many of the larger detached for sale so likely they are holding on. Milton is a great area so I don't sense many of them selling their homes at least right now.
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Sanyo wrote:
Apr 23rd, 2017 5:07 pm
Most are now fairly priced so I assume realtors knows that the bids from few months ago won't be happening now. Like I said lots of semis and smaller detached for sale ... not seeing many of the larger detached for sale so likely they are holding on. Milton is a great area so I don't sense many of them selling their homes at least right now.
Most of the GTA is good to live in anyway. I live in SW Oakville. Workplace is accessible though sometimes costly and with multi ethnicity that is hard to find in other OECD nations.

Canada is home away from home for lots of households and no legitimate group is singled out and barred from entry.
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alanbrenton wrote:
Apr 23rd, 2017 5:12 pm
Most of the GTA is good to live in anyway. I live in SW Oakville. Workplace is accessible though sometimes costly and with multi ethnicity that is hard to find in other OECD nations.
Yep got the immigrant and also vast number of millennials who are starting to buy homes

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