He can barely afford one. However, he found a way to leverage his business to do the bidding for him.codemonkey wrote: ↑only 2?
Listed House with Flat Fee but no calls...
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- Jun 21st, 2017 3:22 pm
Tags:
- SCORE
- CollegeGraduate
- Banned
- Aug 19, 2016
- 1903 posts
- 762 upvotes
- at1212b
- Deal Guru
- Mar 31, 2008
- 13011 posts
- 3095 upvotes
- Toronto
I think you're right. It won't go back to where it was, but there will be more movement once it becomes clear that most sellers will hold their line or withdraw their listing. I've started seeing some of that in a certain neighbourhood I follow.expatflame wrote: ↑ Pull the listing, no point trying to sell now. As time passes buyers will accept that 40% drop is not happening and will start looking again.
- codemonkey
- Sr. Member
- Oct 21, 2004
- 543 posts
- 94 upvotes
that sounds like a great idea. Please congratulate him on my behalf.CollegeGraduate wrote: ↑ He can barely afford one. However, he found a way to leverage his business to do the bidding for him.
- Chickinvic
- Deal Fanatic
- Dec 27, 2009
- 7941 posts
- 5483 upvotes
- Victoria, BC
It's overpriced. Anything will sell/get interest at the right price. Period.
- CollegeGraduate
- Banned
- Aug 19, 2016
- 1903 posts
- 762 upvotes
Well, let's just say people will buy a piece of dump if that dump will appreciate in price (or has been appreciating). Then people will make up a lot of stories about how good these dumps are with headlines like:Chickinvic wrote: ↑ It's overpriced. Anything will sell/get interest at the right price. Period.
1) Foreign buyers are scooping up these dumps like crazy. Foreign buyers are rich Chinese people from China mainland (even though there was only 5% of them participating).
2) The dump is in short supply. Get them while you still can. Or else you will never be able to afford one.
3) Current interest rate is low. Borrow as much as you can (close to being free money) and scoop up as much of it as you can. Don't worry about BoC raising interest rate, they wouldn't dare because of oil price is so low.
I have seem this happen in the past (or read them in history books). They will have a lot of other good reasons like this dump was blessed and brings people good luck.
- at1212b
- Deal Guru
- Mar 31, 2008
- 13011 posts
- 3095 upvotes
- Toronto
As I contended before, other places got super pricey due to the crowding out effect of the Chinese (pushed people to buy and speculate on markets they normally wouldn't have), and also causing the local minions to go crazy on it.
- oasis2002
- Sr. Member
- Sep 16, 2009
- 693 posts
- 481 upvotes
2800 rent really? Why not just rent a detached for that much?
https://www.realtor.ca/Residential/Sing ... -Bram-East
- Lavaris
- Member
- Jun 15, 2017
- 298 posts
- 129 upvotes
Good question, infact i really like this question, i appreciate you for asking this question and glad you asked, happy to answer your question.oasis2002 wrote: ↑ 2800 rent really? Why not just rent a detached for that much?
https://www.realtor.ca/Residential/Sing ... -Bram-East
Read my statement there, 2800 including basement.
So 1800 for main unit and 1000 for basement.
- oasis2002
- Sr. Member
- Sep 16, 2009
- 693 posts
- 481 upvotes
Well the detached has a finished basement with sep entrance too. Anyway, I suppose its possible. I just dont know why it would be the case. Unless one includes utilities and one doesnt.
- Lavaris
- Member
- Jun 15, 2017
- 298 posts
- 129 upvotes
There wont be much difference between semi and detached if upper floor only for rent...
May be 200/300 difference..
- EP32k2
- Deal Expert
- Jan 15, 2006
- 21392 posts
- 23733 upvotes
- Richmond Hill
Honestly the comparable is only useful to a point. Issue is the comparable is from the past. What's trending now is going to be relevant with your asking price.varano wrote: ↑ Hi Lavaris,
Its North of cotrelle. So yes you're right about 6 years old. Theres a market comparable that just sold for 751K where the market value was 815K before the fall happend a few months ago.
My Price was listed at the same listing price and I believe looked much better in photos. Same lot size, same bedrooms, etc.
I'm just surprised that no one came to see the house at all. Not even a low baller...
- airfarceone
- Member
- Jan 19, 2015
- 423 posts
- 467 upvotes
- Scarborough, ON
People in Japan do not need a place to live? Housing price in Japan has been dropping for over 25 years and is still dropping. Don't give out advice you don't understand.Anikiri wrote: ↑ The problem with a slow market, is the fact that undesirable areas are going to get hit much harder than areas that are desirable. I don't know this area, but you are perhaps doing 1 of 4 things wrong:
1. The area isn't that desirable.
2. You didn't stage the house nicely enough.
3. You're not offering enough commission.
4. Your prices are too high.
It is a slow market though, so I wouldn't be so worried about no one calling. Everyone's clutching onto their money hoping for a huge drop in prices. When they realize that prices aren't budging, they'll all come running out to try and secure a place.
Remember guys, it doesn't matter how you feel about real estate... everyone needs a place to live.
- oasis2002
- Sr. Member
- Sep 16, 2009
- 693 posts
- 481 upvotes
Its dropping but is still higher than most places. Additionally, they are in a demographic decline. There is negligible immigration - Japan is the least ethnically diverse place on the planet. There are a whole bunch of other reasons its not comparable to the west. Real estate is one of the most local asset classes in the world. That is its strength and that is its weakness.airfarceone wrote: ↑ People in Japan do not need a place to live? Housing price in Japan has been dropping for over 25 years and is still dropping. Don't give out advice you don't understand.
- Anikiri
- Deal Guru
- May 1, 2012
- 10538 posts
- 11427 upvotes
- Toronto
The dude needs to heed his own advice. Don't give out advice you don't understand.oasis2002 wrote: ↑ Its dropping but is still higher than most places. Additionally, they are in a demographic decline. There is negligible immigration - Japan is the least ethnically diverse place on the planet. There are a whole bunch of other reasons its not comparable to the west. Real estate is one of the most local asset classes in the world. That is its strength and that is its weakness.
- airfarceone
- Member
- Jan 19, 2015
- 423 posts
- 467 upvotes
- Scarborough, ON
- airfarceone
- Member
- Jan 19, 2015
- 423 posts
- 467 upvotes
- Scarborough, ON
Japanese population did not drop until last year.oasis2002 wrote: ↑ Its dropping but is still higher than most places. Additionally, they are in a demographic decline. There is negligible immigration - Japan is the least ethnically diverse place on the planet. There are a whole bunch of other reasons its not comparable to the west. Real estate is one of the most local asset classes in the world. That is its strength and that is its weakness.
What about Canada from 1990 to 1998? Housing price declined even though population rose 10%.
- Anikiri
- Deal Guru
- May 1, 2012
- 10538 posts
- 11427 upvotes
- Toronto
This stuff has been debated non stop in many other posts. Consult those if you're uninformed.airfarceone wrote: ↑ Japanese population did not drop until last year.
What about Canada from 1990 to 1998? Housing price declined even though population rose 10%.
But in case you don't want to read through 3000 pages of debate:
- Japan's population increased by 6.5mil between 1985 and 2016
- Japan is now officially in population decline
- Japan's population is severely aging
- Japan's prices are still very very high
While it's true that decline hasn't happened until last year, their population has more or less remained static for over 30 years
And go ahead, report whatever you want. You musta been a very popular guy at school.
Anyway, again... I highly suggest you heed this advice: Don't give out advice you don't understand.
- oasis2002
- Sr. Member
- Sep 16, 2009
- 693 posts
- 481 upvotes
I dont think I can add anything to this discussion that hasnt already been talked about. Doesnt matter whats happening in japan, doesnt matter what happened in the 90s. Anyway, I am familiar with your view that houses will drop 40%. Theoretical arguments can be made for and against that. At best I can agree to disagree with your view and you with mine. I have a house that I like and I live there. If the market drops or rises, it only makes a difference if or when I need to move which I dont. I think this discussion is more relevant to you in some ways because you want to possibly buy a place at some point at a price you like.airfarceone wrote: ↑ Japanese population did not drop until last year.
What about Canada from 1990 to 1998? Housing price declined even though population rose 10%.
- stryder1587
- Deal Addict
- Sep 14, 2007
- 1001 posts
- 386 upvotes
- Toronto
Lol, seriously, my in-laws laughed at the 15% FBT and said that won't stop Chinese buyers at all. Other countries foreign policies are way stricter.CollegeGraduate wrote: ↑ Well, there is still a lot of Chinese people believe that Toronto will follow Vancouver. The price will recover.
My in-law is leveraging up big time. In a slow market, he has purchased another 2 houses.
- Anikiri
- Deal Guru
- May 1, 2012
- 10538 posts
- 11427 upvotes
- Toronto
CAD to Chinese YUAN used to be 1:8 (in 2008), now it's 1:5...stryder1587 wrote: ↑ Lol, seriously, my in-laws laughed at the 15% FBT and said that won't stop Chinese buyers at all. Other countries foreign policies are way stricter.
By that virtue alone, the market got almost 40% cheaper. If a Chinese investor really wanted to invest in Canada, this 15% thing isn't a deterrent.
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