Real Estate

100k+ price drop between April and Feb, what a difference 2 months can make!

  • Last Updated:
  • Apr 28th, 2017 1:34 pm
Penalty Box
Jan 13, 2017
456 posts
367 upvotes

100k+ price drop between April and Feb, what a difference 2 months can make!

All properties are on the same street, open house shoe counter = by far the best leading indicator of all time

sold 2 days ago
http://watch.ohmyhome.ca/#/mls/N3771373

· Listing Price: 968800
· Status: Sld
· Sold Price: 920000
Sold Date: 2017-04-23

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Back in Feb

http://watch.ohmyhome.ca/#/mls/N3712752
· MLS NO.: N3712752
· Listing Price: 888000
· Status: Sld
· Sold Price: 1075000
· Sold Date: 2017-02-26

http://watch.ohmyhome.ca/#/mls/N3704163
· MLS NO.: N3704163
· Listing Price: 829000
· Status: Sld
· Sold Price: 1021000
Sold Date: 2017-02-10

Image
30 replies
Deal Addict
Dec 30, 2006
1247 posts
1594 upvotes
Toronto
Finished bsmt vs. non Finished bsmt

Big difference
Penalty Box
Jan 13, 2017
456 posts
367 upvotes
doesn't account for the 100k+ in price difference bud.
truth is price is 100% heading downward, day by day at least in my area.
tyrrell wrote: Finished bsmt vs. non Finished bsmt

Big difference
Penalty Box
Jan 13, 2017
456 posts
367 upvotes
doesn't account for the 100k+ in price difference bud.
truth is price is 100% heading downward, day by day at least in my area.
tyrrell wrote: Finished bsmt vs. non Finished bsmt

Big difference
Deal Addict
User avatar
Dec 13, 2016
4529 posts
4060 upvotes
MMMPower wrote: doesn't account for the 100k+ in price difference bud.
truth is price is 100% heading downward, day by day at least in my area.
Try repeating one more time to prove your invalid point.
Deal Addict
Apr 10, 2017
3047 posts
2146 upvotes
tyrrell wrote: Finished bsmt vs. non Finished bsmt

Big difference
When we were home shopping for almost 3 months straight , we've seen a lot more houses with unfinished basements go for more than finished ones.
Deal Addict
Dec 30, 2006
1247 posts
1594 upvotes
Toronto
Biscayne05 wrote: When we were home shopping for almost 3 months straight , we've seen a lot more houses with unfinished basements go for more than finished ones.
All other things being equal. A house with a finished basement will sell for more. There must have been other factors involved.
Deal Guru
Feb 9, 2009
12381 posts
11307 upvotes
Reason for less people at open house -- too many of them right now!

in Feb inventory was very very tight and hence saw tons of people at one open house.

Now with more inventory you naturally wont see that many -- that and the 3 idiots who froze the market essentially for most of april... though you are seeing a little more action in the last few days... once the 3 idiots are out of sight out of mind you may get people coming out -- we may very well have a late spring market. Not saying we are going back to the days of 20 bids on one home but we'll get a balanced market.

The one thing that could hurt the market is condo investors who get cold feet cause of the rent control scam... they may decide to cash out. And I wouldnt blame them I'll be honest being a landlord in Ontario is horrible and I would rather take my money to the States and invest in a landlord friendly state...
Deal Addict
Apr 10, 2017
3047 posts
2146 upvotes
tyrrell wrote: All other things being equal. A house with a finished basement will sell for more. There must have been other factors involved.
We can go back and fourth on this for an entire year, but I don't know if you're in the market or if you're an agent. I've seen it myself and have bid on them myself.

When I left that tidbit, these were all comparable homes in a 5km radius. Similar ages, sq footage, comparable interior finishes, # of bedrooms etc etc etc

I leave it at that. In my opinion, it doesn't matter. Some people (like someone I know in my family) would LOVE to get his hands on an unfinished one to put his personal touches. I personally would pay more for a finished one.
Jr. Member
Dec 12, 2016
135 posts
115 upvotes
Greater Canada
The amount of irrational exuberance on this thread is outstanding.
Advocate For The Removal Of Dihydrogen Monoxide (DHMO) From Canada's Water Supply
Deal Addict
Dec 6, 2006
2926 posts
1499 upvotes
Look like another troll thread.
Sr. Member
Sep 17, 2008
597 posts
117 upvotes
Definitely there is a drop in number of houses sold daily, at least in Brampton ( http://mongohouse.com/reports). And i also notice a bit of drop in sold price compare to Feb and March.
Last edited by s0n1c on Apr 26th, 2017 10:31 pm, edited 1 time in total.
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Sr. Member
Jan 14, 2010
800 posts
307 upvotes
tyrrell wrote: All other things being equal. A house with a finished basement will sell for more. There must have been other factors involved.
i got an unfinished basement house and see some fixed cracks. I want to buy unfinished again because the sellers might be hiding structural issues and foundation cracks may be? unfinished is good for houses 15 years or older. Which reminds me of dry walling my cracked basement so that the future buyer think finished is good :)
Sr. Member
Jan 14, 2010
800 posts
307 upvotes
tyrrell wrote: All other things being equal. A house with a finished basement will sell for more. There must have been other factors involved.
i got an unfinished basement house and see some fixed cracks. I want to buy unfinished again because the sellers might be hiding structural issues and foundation cracks may be? unfinished is good for houses 15 years or older. Which reminds me of dry walling my cracked basement so that the future buyer think finished is good :)
Sr. Member
Sep 16, 2009
693 posts
481 upvotes
MMMPower wrote: All properties are on the same street, open house shoe counter = by far the best leading indicator of all time

sold 2 days ago
http://watch.ohmyhome.ca/#/mls/N3771373

· Listing Price: 968800
· Status: Sld
· Sold Price: 920000
Sold Date: 2017-04-23

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Back in Feb

http://watch.ohmyhome.ca/#/mls/N3712752
· MLS NO.: N3712752
· Listing Price: 888000
· Status: Sld
· Sold Price: 1075000
· Sold Date: 2017-02-26

http://watch.ohmyhome.ca/#/mls/N3704163
· MLS NO.: N3704163
· Listing Price: 829000
· Status: Sld
· Sold Price: 1021000
Sold Date: 2017-02-10

Image
Not sure you can really compare 3 bed 3 Bath to 4 Bed 4 Bath? That having been said, wont deny there's a correction on that house for sure. If it sustains. then you have yourself a broader correction. But so far most sold stats in other areas show prices are still moving up. If a correction happens I wouldn't be surprised if vaughan gets disproportionately hit. Never understood what makes it more desirable - The italians? Average ranked schools? Not being close to any highway except 400 which leads to bottle necked 401. Anyway that's a separate story I suppose.
Sr. Member
Sep 16, 2009
693 posts
481 upvotes
KhalidA wrote: The amount of irrational exuberance on this thread is outstanding.
Agreed. But data mining and single data points don't show reliable trends either.
Penalty Box
Dec 27, 2013
8003 posts
4050 upvotes
Toronto
u guys are hilarious thinking you can analyze a crash in real estate in 1 day.

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