Real Estate

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

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  • Feb 12th, 2019 3:03 pm
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Deal Addict
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Jul 29, 2013
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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
Wow thats definitely not normal spring selling
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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
What a horrible day for open houses, what are these people thinking! FYI many open houses have multiple signs for the same house.
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Feb 9, 2009
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Flavour wrote:
Apr 23rd, 2017 5:42 pm
What a horrible day for open houses, what are these people thinking! FYI many open houses have multiple signs for the same house.
Some of these sellers are stupid.

But at the same time it's almost a blessing if the market does cool enough the gov't wont come out with anymore stupid regulations like vacant tax for now. And also for rent controlled properties it may lead to lower available supply.. this policy is almost surely to hurt long-term in Ontario with the vast # of people moving in.
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May 5, 2013
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jonkoktosen wrote:
Apr 22nd, 2017 6:11 pm
I said EVERY corner. (From John all the way to MM, then across MM to the 404)
Today I have to do some house chores for my folks, so I drove down from Bayview/ Major Mac to BH, only notice 3 open house signs on Bayview from Marjor Mac to Weldrick when I turned into BH I see around 6 to 8 open house signs but they point to the same 3 houses, it looks pretty normal to me.
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Flavour wrote:
Apr 23rd, 2017 5:42 pm
What a horrible day for open houses, what are these people thinking! FYI many open houses have multiple signs for the same house.
Yeah I know but some people can't read and think that there is a fire sale lol
[OP]
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Dec 5, 2009
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Counting open house signs is not much better than counting the shoes at them. We will have real data for number of listings, number of new listings in about a week that can be compared to last year's spring market.
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May 18, 2015
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Thornhill, ON
thediamondshopper wrote:
Apr 23rd, 2017 5:36 pm
Wow thats definitely not normal spring selling
No, it's not. I've been living in this area for over a decade and I've never seen anything remotely like it. And it just started out of the blue yesterday...
manne3702 wrote:
Apr 22nd, 2017 5:10 pm
Really where in RH? Should have taken some pictures to prove your point?
manne3702 wrote:
Apr 22nd, 2017 5:28 pm
Bayview where?? hwy 7, 16th, Major Mac... Do you even know the different areas in RH LOL
manne3702 wrote:
Apr 23rd, 2017 5:58 pm

Today I have to do some house chores for my folks, so I drove down from Bayview/ Major Mac to BH, only notice 3 open house signs on Bayview from Marjor Mac to Weldrick when I turned into BH I see around 6 to 8 open house signs but they point to the same 3 houses, it looks pretty normal to me.
manne3702 wrote:
Apr 23rd, 2017 6:02 pm

Yeah I know but some people can't read and think that there is a fire sale lol
LOL You're a real piece of work. Yesterday I reported what I saw, you asked me where, and then stopping just short of calling me a liar, you smugly suggested I don't even know RH and asked for visual proof, as though I owe you something. Nevertheless, I explained to you where I saw the signs and I even took a picture of similar activity in Thornhill today and posted it for you guys to see.

Now you're back here talking smack again after I took the effort to take a picture and post it for you guys... :rolleyes:

For your information, all of those signs on Bayview were there YESTERDAY @ 3PM... By 6PM almost all of them were gone. I know because I went to a restaurant to catch the Raptors game and I saw them on the way there... I posted from my phone what I had saw while I was watching the game... The only reason I didn't take a picture yesterday when I saw your post demanding proof was because on my way back from the restaurant, as I said, most of the signs had been removed.

In other words, what you saw today at whatever time is irrelevant, because yesterday @ 3 PM, all of intersections on Bayview looked like the picture I posted today of that intersection in Thornhill. They take their signs down once the open house is finished. You MISSED IT! Plain and simple.

I mean, why would I have made that post on here yesterday if it weren't the case? Maybe I thought to myself, "hmmmm I think I'll just randomly make some sh#t up out of the blue and post it on RFD"?
Flavour wrote:
Apr 23rd, 2017 5:42 pm

What a horrible day for open houses, what are these people thinking! FYI many open houses have multiple signs for the same house.
FYI, I looked and only 3 of the 16 signs on that intersection were for the same house.
fdl wrote:
Apr 23rd, 2017 6:49 pm
Counting open house signs is not much better than counting the shoes at them. We will have real data for number of listings, number of new listings in about a week that can be compared to last year's spring market.
Anecdotal for sure, but this is just my observation, and as I said, I've NEVER seen anything remotely close to this in over a decade living here. We shall see when the data is released, but for now I believe my own eyes.
Millenial1994 wrote:
Dec 9th, 2018 12:31 pm
not possible
literally impossible to lose on RE in GTA if you hold for at least 2 years.
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May 5, 2013
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jonkoktosen wrote:
Apr 23rd, 2017 8:01 pm


LOL You're a real piece of work. Yesterday I reported what I saw, you asked me where, and then stopping just short of calling me a liar, you smugly suggested I don't even know RH and asked for visual proof, as though I owe you something. Nevertheless, I explained to you where I saw the signs and I even took a picture of similar activity in Thornhill today and posted it for you guys to see.

Now you're back here talking smack again after I took the effort to take a picture and post it for you guys... :rolleyes:

For your information, all of those signs on Bayview were there YESTERDAY @ 3PM... By 6PM almost all of them were gone. I know because I went to a restaurant to catch the Raptors game and I saw them on the way there... I posted from my phone what I had saw while I was watching the game... The only reason I didn't take a picture yesterday when I saw your post demanding proof was because on my way back from the restaurant, as I said, most of the signs had been removed.

In other words, what you saw today at whatever time is irrelevant, because yesterday @ 3 PM, all of intersections on Bayview looked like the picture I posted today of that intersection in Thornhill. They take their signs down once the open house is finished. You MISSED IT! Plain and simple.

I mean, why would I have made that post on here yesterday if it weren't the case? Maybe I thought to myself, "hmmmm I think I'll just randomly make some sh#t up out of the blue and post it on RFD"?



FYI, I looked and only 3 of the 16 signs on that intersection were for the same house.



Anecdotal for sure, but this is just my observation, and as I said, I've NEVER seen anything remotely close to this in over a decade living here. We shall see when the data is released, but for now I believe my own eyes.
Chill man, no need to get angry, no one is saying that you are a liar, I am just reporting what I saw and you and I are not even talking about the same area. You are south of Hwy 7 and I am north of 16th.
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Feb 9, 2009
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House near me just sold today... just past it during my evening walk and was for sale earlier.

House was listed for 850k will let everyone know what it sold for when I see sold figures probably tomorrow.

Interested in seeing the over asking... 850k was a fair price for the house Im talking about.
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Sanyo wrote:
Apr 23rd, 2017 8:29 pm
House near me just sold today... just past it during my evening walk and was for sale earlier.

House was listed for 850k will let everyone know what it sold for when I see sold figures probably tomorrow.

Interested in seeing the over asking... 850k was a fair price for the house Im talking about.
Any chance you can show us the mls listing?
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Dec 1, 2008
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Sanyo wrote:
Apr 23rd, 2017 8:29 pm
House near me just sold today... just past it during my evening walk and was for sale earlier.

House was listed for 850k will let everyone know what it sold for when I see sold figures probably tomorrow.

Interested in seeing the over asking... 850k was a fair price for the house Im talking about.
Keep us posted you probably be surprised by the price it got sold for. Things are not looking good at all
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manne3702 wrote:
Apr 23rd, 2017 8:35 pm
Any chance you can show us the mls listing?
MLS Number: W3764234
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spdewan wrote:
Apr 23rd, 2017 8:39 pm
Keep us posted you probably be surprised by the price it got sold for. Things are not looking good at all
Not sure will have to see what it went for... its a pretty nice house so unless the sellers were super desperate I assume it went for at or over asking.

And I have not seen Milton homes going for under asking yet...
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Dec 1, 2008
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Sanyo wrote:
Apr 23rd, 2017 8:42 pm
Not sure will have to see what it went for... its a pretty nice house so unless the sellers were super desperate I assume it went for at or over asking.

And I have not seen Milton homes going for under asking yet...
I came to know about a semi sold in scott area way too low against very recent comparable. Don't want to create panic on this forum but be ready for surprises next week.
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spdewan wrote:
Apr 23rd, 2017 9:02 pm
I came to know about a semi sold in scott area way too low against very recent comparable. Don't want to create panic on this forum but be ready for surprises next week.
Listing?

And who's gonna panic? Im not selling so its down 10%-15-20% so be it...

Im looking at listings right now and havent see drastic drops... I look EVERYDAY.. .if you see a listing let me know and I'll know for sure if it's underpriced.

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