Real Estate

[GTA] Durham Region Developments Mega Thread

  • Last Updated:
  • Feb 23rd, 2018 1:25 pm
Deal Addict
May 31, 2007
4789 posts
1904 upvotes
DealHunter100 wrote:
Feb 1st, 2018 10:26 pm
Where do you see detached for 500K.. downtown Oshawa? You could not buy new Townhouse in Oshawa for that. Maybe older properties require alot of work.

Last Jan you could buy 4 bedroom detached for 700K and you can now depending on location and other variables.. Houses are not all the same.

From 2009 real estate is up 300 to 400% and this is normal cycle, all Im saying smart people buy when the market is down.
Real estate is long term investment and I dont see prices going down.

Established people with large home in Durham wont sell their homes for 20% less now and move to rent. they will buy more . That is what smart people do..
Can you show me, or antidotally describe any Real Estate in Durham, that went up that amount? You realize 300% and 400% is a "4 and 5 " X fold on your money

You are exaggerating that RE went up 5X in Durham since 2009 and this is " normal cycle".

Toronto average detach didn't even do that since 2009.

You realize that house value is based on comparable sold.. established people may not move, but someone is always selling and this is what lowers prices.

IN fact, plenty are for sale right now, the market GTA wide is being flooded with inventory compared to last year.

Even if listings were really, really low, I will tell you who will always have to sell:

Widow
Elderly
Divorse
Death
Disable
Financial hardship

My agent deals with only these sales and trust me, she does more sales than average realtor. ( in durham too)
Deal Addict
May 31, 2007
4789 posts
1904 upvotes
Deal Addict
May 31, 2007
4789 posts
1904 upvotes
Luckiest flipper in GTA?

Bought at peek houses for 649k May 2017
Sold Dec 750k (7 months later)

made 100k more than paid, in drastic declining market

Did major reno though, but might have barely gotten out without loss after all taxes, fees (and someone way overpaid for that)

https://mongohouse.com/soldrecords/5a4c ... d0a567ba28
Deal Addict
May 31, 2007
4789 posts
1904 upvotes
rjg4235 wrote:
Feb 2nd, 2018 9:31 am
Yea I agree with that. Whitby went absolutely crazy with a 60-70% increase in 2 years. It has definitely regressed 20%ish since it's madness last April.


Treb shows the average detach in Whitby was up 28% over last two years. That's quite far from 70%.
Deal Addict
May 31, 2007
4789 posts
1904 upvotes
@DealHunter100

Treb is showing dec 2008 average Whitby detach $304,857

Dec 2017 average $698,110


Where's the 5 fold price increase that everyone got in this is normal market cycle?
Deal Addict
Feb 22, 2011
2604 posts
2391 upvotes
Toronto
Jungle wrote:
Feb 2nd, 2018 2:23 pm
Treb shows the average detach in Whitby was up 28% over last two years. That's quite far from 70%.
I was saying at the height in April 2017.

The average benchmark detached was $763k compared to $479k in 2015. That is an increase of 60%.

The average detached by sale was $862k compared to $518k in 2015. That is an increase of 66%.

So my point of it retracing 20% from then is not a big deal considering they went up 60-70% in 2 years.

Please explain what type of math you used to get to 28%...
Deal Addict
May 31, 2007
4789 posts
1904 upvotes
rjg4235 wrote:
Feb 2nd, 2018 2:38 pm
I was saying at the height in April 2017.

The average benchmark detached was $763k compared to $479k in 2015. That is an increase of 60%.

The average detached by sale was $862k compared to $518k in 2015. That is an increase of 66%.

So my point of it retracing 20% from then is not a big deal considering they went up 60-70% in 2 years.

Please explain what type of math you used to get to 28%...
Your post said over the last 2 years, prices were up 60-70%. You did not specify you were using last April. That would not be last 2 years

Using dec 2015 to dec 2017 , last 2 years as you stated, prices up 28% as per treb average for Whitby.
Deal Addict
Feb 22, 2011
2604 posts
2391 upvotes
Toronto
Jungle wrote:
Feb 2nd, 2018 2:52 pm
Your post said over the last 2 years, prices were up 60-70%. You did not specify you were using last April. That would not be last 2 years

Using dec 2015 to dec 2017 , last 2 years as you stated, prices up 28% as per treb average for Whitby.
Okay then you weren't really following the conversation. He said they were down since April I said yes but they were up 60-70% over 2 years.
Member
User avatar
Nov 1, 2001
335 posts
44 upvotes
Toronto
reeealestate wrote:
Feb 1st, 2018 11:34 am
Thats so weird cause i called them yesterday and aspen ridge said they have 5 45 feet lots left and towerhill said they still have 30 and 36 feet lots left.
ok, I"ll check with them again to see if they have what I'm looking for.
Newbie
Feb 2, 2018
1 posts
Hey everyone,

Looking for a home to settle down in within the Whitby/Ajax area. Read about the Mattamy price drop in this thread so just want to adjust my expectations.

Does anyone know whether the Mattamy Queens Common rear lane towns had a monthly maintenance fee for like garbage collection, snow removal, etc.

Thoughts on buying townhouses with a monthly fee? Also, any upcoming releases in that same $550k price range?

Thanks!
Jr. Member
May 6, 2006
117 posts
5 upvotes
Hi folks
Does anyone have an update on the Mattamy Pickering development. They havent released any new homes over there in sometime, is there going to be another release by Mattamy? What would be the market price now of the rear lane townhomes there.
Newbie
Jan 16, 2016
22 posts
5 upvotes
Scarborough, ON
warrior2009 wrote:
Feb 3rd, 2018 11:25 pm
Hi folks
Does anyone have an update on the Mattamy Pickering development. They havent released any new homes over there in sometime, is there going to be another release by Mattamy? What would be the market price now of the rear lane townhomes there.
Nope, nothing yet. I had my frame walk in January, and they were working on the exterior siding, and had basically done the insulation and put in the tub, wire and piping. Other than that, the house is expected to be completed in April. The townhouse is expected to be completed in April. I however, doubt it will be ready on time. They did mention that they are "on time" based on their schedule, but any holdback is due to the City not giving the okay for services to be connected.

It's kind of fine, because I am in the period to which delayed compensation is owned. As it stand, if the house is completed and closes by the April date, I will be owed about $3k...so if they need a few mrore days to weeks to fully complete, then I'm happy up until the $7.5k max compensation is achieve.

I'm just waiting to get a registered address so that I can prepare the home insurance as well as the building assessment as required by the bank.
Newbie
Jul 14, 2017
56 posts
14 upvotes
I assume you are phase 1, has there be any delay? From your text, it seems it has been delayed for a year at least.
Member
Jul 31, 2007
274 posts
7 upvotes
Scarborough
Xellose wrote:
Feb 8th, 2018 1:34 pm
Nope, nothing yet. I had my frame walk in January, and they were working on the exterior siding, and had basically done the insulation and put in the tub, wire and piping. Other than that, the house is expected to be completed in April. The townhouse is expected to be completed in April. I however, doubt it will be ready on time. They did mention that they are "on time" based on their schedule, but any holdback is due to the City not giving the okay for services to be connected.

It's kind of fine, because I am in the period to which delayed compensation is owned. As it stand, if the house is completed and closes by the April date, I will be owed about $3k...so if they need a few mrore days to weeks to fully complete, then I'm happy up until the $7.5k max compensation is achieve.

I'm just waiting to get a registered address so that I can prepare the home insurance as well as the building assessment as required by the bank.
Please keep us updated on your house development. I'm in Phase 2. My closing is set for June 2018 but I doubt it will be ready by then. Just wonder how long it has been since they started building the basement ground. Just to get an idea. how long it will take to build the house.

regards
Newbie
Jan 16, 2016
22 posts
5 upvotes
Scarborough, ON
My townhouse (village home) doesn't have a basement. So if it took that long to build a house over a concrete slab then it might be quite some time. That being said, if you know your area of land that you are house is supposed to be at, you can actually go to the construction site to see how its progressing.
They say you shouldn't go there, and I agree, but I myself have been there a few times, (and so have other people) during the weekends when nobody is around just to see the progress of my place.

Top

Thread Information

There are currently 2 users viewing this thread. (2 members and 0 guests)

SKOMO85, erlalonde