Real Estate

[GTA] Durham Region Developments Mega Thread

  • Last Updated:
  • Dec 11th, 2017 8:15 pm
Member
Jul 8, 2008
335 posts
43 upvotes
Toronto
RolandCouch wrote:
Apr 25th, 2017 6:50 pm
Emails said mid 400s starting, click for an appointment and you'll get an appointment in order of your RSVP. I clicked within 20 seconds of getting the email and was offered an afternoon appointment on the Saturday which I did not end up attending. (I should mention the sales rep setting up appointments said only 2 blocks would be released and no price increases until the next phase).

Spoke to someone that attended both days. Saturday morning appeared to be insiders (friends, employees etc) and then regular joes after. They started at 460K. By Sunday morning the identical entry level floorplan facing Dunbarton HS was 540K. Sales Rep openly admitted they jacked the prices up.
Thanked!!
Sr. Member
Nov 3, 2011
898 posts
129 upvotes
STOUFFVILLE
RolandCouch wrote:
Apr 25th, 2017 6:50 pm
Emails said mid 400s starting, click for an appointment and you'll get an appointment in order of your RSVP. I clicked within 20 seconds of getting the email and was offered an afternoon appointment on the Saturday which I did not end up attending. (I should mention the sales rep setting up appointments said only 2 blocks would be released and no price increases until the next phase).

Spoke to someone that attended both days. Saturday morning appeared to be insiders (friends, employees etc) and then regular joes after. They started at 460K. By Sunday morning the identical entry level floorplan facing Dunbarton HS was 540K. Sales Rep openly admitted they jacked the prices up.
Thanked too. Also.. had a similar experience on Kijiji, and didn't want to argue. But this bait and switch is just pure madness.
Sr. Member
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Dec 27, 2007
966 posts
304 upvotes
Oshawa
Your describing nearly every real estate transaction within the greater GTA over the recent months, builder or not. Everyone wants to attain the highest possible price for their house, you call it unethical?
RolandCouch wrote:
Apr 25th, 2017 7:25 pm
Did you read the entire post or just selectively?

If you called someone and set up an appointment and they told you what the prices would be, then attended said appointment and upon arrival were told a new price, would you like that?

What if you discussed a price for something on Kijiji and after driving to see it, the seller said they want 15% more than they told you? It's funny that people will moan about this behavior for a 100$ Kijiji item but home builders get a pass for unethical behavior?

Fortunately for me I knew before the appointments were set up that I wasn't interested in the complex anyway (maintenance fees, limited parking). I do feel bad for anyone who may have had their hopes up though. Raising prices between phases is a different thing entirely.
Deal Guru
Jun 26, 2011
10080 posts
975 upvotes
Markham
jonnyb wrote:
Apr 25th, 2017 11:00 pm
Your describing nearly every real estate transaction within the greater GTA over the recent months, builder or not. Everyone wants to attain the highest possible price for their house, you call it unethical?
I did not say that wanting to attain the highest possible price when selling is unethical. I said there are ways of going about accomplishing that goal that can be unethical.

There is a big difference between holding off offers, listing low to attract multiple bidders, only accepting offers with no conditions, etc. (essentially creating a bidding war), which I am totally okay with, versus outright lying to people. I'm not sure why that is hard to understand - perhaps integrity is becoming a thing of the past.
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Dec 27, 2007
966 posts
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Oshawa
Or perhaps common sense is...you either have the money or you don't. As with any real estate transaction you either step up or back off. Anyways, we agree to disagree, let's focus on the topic at hand.

RolandCouch wrote:
Apr 26th, 2017 12:12 am
I did not say that wanting to attain the highest possible price when selling is unethical. I said there are ways of going about accomplishing that goal that can be unethical.

There is a big difference between holding off offers, listing low to attract multiple bidders, only accepting offers with no conditions, etc. (essentially creating a bidding war), which I am totally okay with, versus outright lying to people. I'm not sure why that is hard to understand - perhaps integrity is becoming a thing of the past.
Deal Addict
User avatar
Sep 8, 2007
4805 posts
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Way Out of GTA
RolandCouch wrote:
Apr 25th, 2017 7:25 pm
Did you read the entire post or just selectively?

If you called someone and set up an appointment and they told you what the prices would be, then attended said appointment and upon arrival were told a new price, would you like that?

What if you discussed a price for something on Kijiji and after driving to see it, the seller said they want 15% more than they told you? It's funny that people will moan about this behavior for a 100$ Kijiji item but home builders get a pass for unethical behavior?

Fortunately for me I knew before the appointments were set up that I wasn't interested in the complex anyway (maintenance fees, limited parking). I do feel bad for anyone who may have had their hopes up though. Raising prices between phases is a different thing entirely.
To me it's bad even advertising a price then jacking it up immediately when they are available...but when the initial allotment goes to friends and family then it gets released to the public at higher prices within the same release weekend is pretty slimey. But I guess as long as pre con flippers set the price of new construction...if you are a buy to live in purchaser might be better to stick with resale.
Member
Feb 23, 2009
222 posts
189 upvotes
Oshawa
jonnyb wrote:
Apr 26th, 2017 4:26 am
Or perhaps common sense is...you either have the money or you don't. As with any real estate transaction you either step up or back off. Anyways, we agree to disagree, let's focus on the topic at hand.
First time in a while houses in Durham selling for asking and below asking.
I guess people have run out of money.
Newbie
Apr 20, 2017
48 posts
8 upvotes
Don't worry. Now price can only go down...Canadian people are not millionaire or earn 200K per year...
Newbie
Apr 23, 2017
15 posts
4 upvotes
pkrash wrote:
Apr 26th, 2017 8:40 am
First time in a while houses in Durham selling for asking and below asking.
I guess people have run out of money.
I see a handful of houses in the Durham area that sold within the last 3 days that were sold at about 4-5% over asking and 1 below asking, but at least 10% below the market value they would have drawn about 1 month ago based on comparables. But I don't know if this can really be considered the trend or norm as yet.
Sr. Member
May 6, 2015
597 posts
137 upvotes
Unionville, ON
Image

I just received this email from Treasure Hill (solid builder IMO) - so it will start at 699k for detached in bowmanville. Can someone post prices if they go.

Stainless Steel Appliance Package
• Natural Finish Oak Staircase
• Granite Kitchen Countertop
• Upgraded Kitchen Cabinets

PLEASE REMEMBER
• Bring 4 cheques
• Bring Photo ID
• (ie. Driver's License or Passport)
• All offers are firm
Newbie
Mar 2, 2016
91 posts
19 upvotes
I have received an email for upgrades, interior colors and finishes at the Mattamy Design Studio for the Seaton development. I haven't set the appointment yet. My townhome closes on April of 2018. So I can assume the price list for upgrades are available. I'll probably head in the next few weekends to see the pricing for finishes and upgrades. Some people I know who close in 2017 for phase 1 haven't received that email yet.
Newbie
Feb 8, 2017
42 posts
5 upvotes
Boy oh Boy, will prices in Durham fall? This is what I was saying, everybody putting up for sale all at the same time lol. The problem will exponentially become big when all these builders open up too.
Member
Jan 31, 2016
374 posts
89 upvotes
Toronto, ON
rigalpatel wrote:
Apr 26th, 2017 10:09 am
Image

I just received this email from Treasure Hill (solid builder IMO) - so it will start at 699k for detached in bowmanville. Can someone post prices if they go.

Stainless Steel Appliance Package
• Natural Finish Oak Staircase
• Granite Kitchen Countertop
• Upgraded Kitchen Cabinets

PLEASE REMEMBER
• Bring 4 cheques
• Bring Photo ID
• (ie. Driver's License or Passport)
• All offers are firm
This is in the same area as the Northglen launched a little while ago and will be the most furthest north subdivision in Bowmanville, almost at Taunton rd. A pretty good drive to the 401 for commuters especially during rush hours times. Just a heads up.
Wonder if it will be as busy as the Northglen as it sounds like they are a bit more pricy?
Newbie
Jan 30, 2014
10 posts
1 upvote
RICHMOND HILL
Raptorfan6 wrote:
Apr 26th, 2017 10:32 am
I have received an email for upgrades, interior colors and finishes at the Mattamy Design Studio for the Seaton development. I haven't set the appointment yet. My townhome closes on April of 2018. So I can assume the price list for upgrades are available. I'll probably head in the next few weekends to see the pricing for finishes and upgrades. Some people I know who close in 2017 for phase 1 haven't received that email yet.
Mine delayed from oct2017 to feb2018. I got my studio appointment mid of may. I went there last week to check price and it's not ready.
Sr. Member
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Sep 30, 2008
717 posts
291 upvotes
Pickering
I know this is not a residential development but it certainly sounds promising for the region. Does anyone have any insight to the progress of the Durham Live project? Seems like there has not been any news or updates for a while, though I know they are awaiting OLG's decision on the casino. They've already said there will be a gaming facility in the area and I believe it is between this new mega development or expanding Ajax Downs.

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