Real Estate

199 Church St - Centrecourt

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  • Aug 29th, 2020 11:43 am
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Jr. Member
Aug 21, 2017
195 posts
132 upvotes
No it didnt.... many places are still way below their 2017 highs.

And why do you think they can cut 1.5% within months and cannot raise 1.5% within months?

StatsGuy wrote: Just like they did a few years ago...and RE prices still went to the moon

They cut 1.5% in like a couple of months, it'll take them at least a few years to slowly raise it if at all. You think a 25 basis point hike a few times a year at most is going to do anything after the big cut?
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Jan 17, 2006
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fiddlewin wrote: No it didnt.... many places are still way below their 2017 highs.

And why do you think they can cut 1.5% within months and cannot raise 1.5% within months?
Don't let the bulls upset you, they will cut the rates, 1.5 in one shot, RE will crush, just wait for it.
Jr. Member
Aug 21, 2017
195 posts
132 upvotes
Why should I be upset? If you're in for the investing game, either in the stock market or RE or bitcoin or anything, the least thing you want to do is to let your wishful thinking cloud your judgement.

RE has crashed. It has crashed in US in 2008, it has crashed in Hongkong in 1997, and it has crashed in Canada in 2017. And it will crash some time in the future, like stock market and like everything else. If you believe there's one single asset that will just appreciate 10% YoY forever, suit yourself.
ilim wrote: Don't let the bulls upset you, they will cut the rates, 1.5 in one shot, RE will crush, just wait for it.
Deal Addict
Jan 9, 2010
2610 posts
2364 upvotes
fiddlewin wrote: Why should I be upset? If you're in for the investing game, either in the stock market or RE or bitcoin or anything, the least thing you want to do is to let your wishful thinking cloud your judgement.

RE has crashed. It has crashed in US in 2008, it has crashed in Hongkong in 1997, and it has crashed in Canada in 2017. And it will crash some time in the future, like stock market and like everything else. If you believe there's one single asset that will just appreciate 10% YoY forever, suit yourself.
I'm sure eventually it will crash, but investing is for the long term. If prices go up 5% every year for a decade, that's just under 63% increase in value after 10 years. Even if prices were to "crash" 30-40% which would have bears jumping for joy, they're still behind since prices would still be 20%+ higher than it was a decade ago and they would still be priced out.

Take a long term approach to investing and you'll see why complaining about prices being high and timing the market is a fool's errand. You don't time the stock market while investing, why would you do it for real estate? Invest in the long game.
Newbie
Jul 25, 2020
3 posts
moofur wrote: That's like telling people to buy a $2M house because the price PSF is lower. It doesn't work that way.
I do tell people Such thing when price difference is %20
Of course it depends how much money they want to invest. They should be able to pay the down payment
Newbie
Jul 25, 2020
3 posts
moofur wrote: I'm sure eventually it will crash, but investing is for the long term. If prices go up 5% every year for a decade, that's just under 63% increase in value after 10 years. Even if prices were to "crash" 30-40% which would have bears jumping for joy, they're still behind since prices would still be 20%+ higher than it was a decade ago and they would still be priced out.

Take a long term approach to investing and you'll see why complaining about prices being high and timing the market is a fool's errand. You don't time the stock market while investing, why would you do it for real estate? Invest in the long game.
In your calculations, you forget to count that you are not paying the entire amount. You are only paying %15 of the amount over a period of 18 month
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Mar 27, 2004
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do you work for bay st
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Nov 5, 2018
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moofur wrote: I'm sure eventually it will crash, but investing is for the long term. If prices go up 5% every year for a decade, that's just under 63% increase in value after 10 years. Even if prices were to "crash" 30-40% which would have bears jumping for joy, they're still behind since prices would still be 20%+ higher than it was a decade ago and they would still be priced out.

Take a long term approach to investing and you'll see why complaining about prices being high and timing the market is a fool's errand. You don't time the stock market while investing, why would you do it for real estate? Invest in the long game.
If there was ANY time for RE to crash it would be now during a global pandemic where the governments have mandated everyone to stay at home, while the hospitality and travel industry was left to crumble before our eyes.

Meanwhile detached is up. Condos are weaker, but holding in, but I believe the rental market cleans up eventually.

I am beginning to think there will be no crash for RE. I am certainly not betting it never happens, but here we are in the worst of all times and it is doing quite well ;)
Called the bottom.
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Jan 9, 2010
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SaraA24053 wrote: In your calculations, you forget to count that you are not paying the entire amount. You are only paying %15 of the amount over a period of 18 month
Yes... but I'm not sure what you're trying to get at? If you're talking about leverage, then the gains that you would've lost out on in the 10 years is even higher. Yes, the subsequent losses in the event of a crash would also be higher but you're forgetting that the asset is being rented out during those 10 years if it's a rental property and after 10 years of gains and rental increases you're most likely at cash flow positive which means any subsequent "market crashes" (which again you'd probably still be up from your original purchase price) will probably mean very little to you. If it's a property that you're living in you care even less since unless you're selling it you wouldn't be realizing those losses. Again, people really need to look at a longer horizon when it comes to real estate. Think 15-20, 30+ years, and even inter-generationally.
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Jan 9, 2010
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SaraA24053 wrote: I do tell people Such thing when price difference is %20
Of course it depends how much money they want to invest. They should be able to pay the down payment
It's not just about the downpayment, it's about the rent that you're able to generate on the property (ie. cap rate), the carrying costs including interest on a bigger mortgage, maintenance fees, property taxes, all of which impact the cash flow calculation of the property.

People also have to think about how they want to deploy their capital. For example, if you only have $1.2M at your disposal (whether that be cash or your borrowing capacity), you have to think about how to best use that. Would you rather buy two $600K 1BRs in the downtown core or are you better off buying a 2 BR at $800K in the downtown core and left with $200K where you can't really buy any more real estate? This is why it's very very simplistic to just think about it as "only 20% more". This is also the reason why 1BRs are generally so popular.
Jr. Member
Aug 21, 2017
195 posts
132 upvotes
Investing for the long game doesn't mean timing is not important. Timing is everything. If you bought RE or stocks in 2008 in US before crash you'd lose several years of opportunity gains. And a YoY of 5% is far lower than ETF, taking into account of your cost for mortgage, maintenance and transaction fees (even taking leverage into consideration).

They say "dont time the market", but they also say "buy low and sell high".

moofur wrote: I'm sure eventually it will crash, but investing is for the long term. If prices go up 5% every year for a decade, that's just under 63% increase in value after 10 years. Even if prices were to "crash" 30-40% which would have bears jumping for joy, they're still behind since prices would still be 20%+ higher than it was a decade ago and they would still be priced out.

Take a long term approach to investing and you'll see why complaining about prices being high and timing the market is a fool's errand. You don't time the stock market while investing, why would you do it for real estate? Invest in the long game.
Deal Addict
Jan 9, 2010
2610 posts
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fiddlewin wrote: Investing for the long game doesn't mean timing is not important. Timing is everything. If you bought RE or stocks in 2008 in US before crash you'd lose several years of opportunity gains. And a YoY of 5% is far lower than ETF, taking into account of your cost for mortgage, maintenance and transaction fees (even taking leverage into consideration).

They say "dont time the market", but they also say "buy low and sell high".
Yes, but if you're timing the market to buy low, it's a fool's errand. That's the issue. This goes for all types of investments, not just with RE or equities.

Yes you'er right, 5% YoY is lower than an ETF, since the long run S&P return is around 8%. However, I'm merely using it as an illustration since if I said 8-10% which is more reflective of what actually occurred in the past decade, I'm sure all the bears will pounce on it saying that that won't happen forever, and they will be right.

You also have to take into consideration that with real estate, you're leveraging, which is much harder to do with equities. That in itself greatly magnifies your returns (and losses). This is the reason why you have to play the long game in order to greatly minimize your risk since in the short term it's anyone's guess as to what will happen to the RE market.
Deal Fanatic
Mar 27, 2004
8082 posts
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Singh_21 wrote: I don’t believe the project is 70% sold out. The inventory is released in such a way that it looks hotter than it actually is imo.
No where near 70%.

Investor units are the ones that sell out first for ANY project, so all the 1 bedrooms and studios should be gone already. But they continue to release new units for sale slowly via the hot list they are sending to ALL agents. There is basically no platinum status required for this project. They have opened it up to everyone already. It tells me even the platinum agents are not selling much. I speak to them so I know.
The platinum brokers also got a huge incentive to buy for themselves and do a pr shoot for centercourt.
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Feb 11, 2009
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oasis100 wrote: No where near 70%.

Investor units are the ones that sell out first for ANY project, so all the 1 bedrooms and studios should be gone already. But they continue to release new units for sale slow via the hot list they are sending to ALL agents. There is basically no platinum status required for this project. They have opened it up to everyone already. It tells me even the platinum agents are not selling much. I speak to them so I know.
The platinum brokers also got a huge incentive to buy for themselves and do a pr shoot for centercourt.
Any agent who wants to maintain a good image with their clients will avoid recommending this project if they want want the "repeat buyer" investors. The ones selling are the ones interested in a quick buck and will use shady tactics to convince the buyers its a great deal...

I've been saying this from the start, they really messed up with this project, and essentially gave everyone access to it from Day 1 because they knew it would take an army to sell this one rather than Platinum status.
Realtor - Investment Properties
Newbie
Jul 15, 2020
69 posts
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This is one of the funniest thing i have ever seen. It has an negative affect to me as an investor. I bought multiple centrecourt units and did well and love them but this email is ridiculously funny. What are they trying to say? Hahaha
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Nov 5, 2018
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BearBullBear wrote: This is one of the funniest thing i have ever seen. It has an negative affect to me as an investor. I bought multiple centrecourt units and did well and love them but this email is ridiculously funny. What are they trying to say? Hahaha
Ya, that is messed up. How desperate is that, Jesus Christ!
Called the bottom.
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Mar 27, 2004
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BearBullBear wrote: This is one of the funniest thing i have ever seen. It has an negative affect to me as an investor. I bought multiple centrecourt units and did well and love them but this email is ridiculously funny. What are they trying to say? Hahaha
I mentioned this in a earlier post

That guy is Jason Lam.

I am not allowed to disclose, but they got a huge incentive to buy.
To a consumer, this image means nothing, only realtors who work for these brokerages or in the precon game would know these people. Otherwise, it looks stupid af. and shows how desperate Centercourt is.
Last edited by oasis100 on Jul 29th, 2020 4:12 pm, edited 2 times in total.
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oasis100 wrote: I mentioned this in a earlier post

That guy is Jason Lam.

I am not allowed to disclosed, but they got a huge incentive to buy.
No s**t!
Called the bottom.
Newbie
Jul 15, 2020
69 posts
51 upvotes
oasis100 wrote: I mentioned this in a earlier post

That guy is Jason Lam.

I am not allowed to disclosed, but they got a huge incentive to buy.
To a consumer, this image means nothing, only realtors who work for these brokerages or in the precon game would know these people. Otherwise, it looks stupid af. and shows how desperate Centercourt is.
Yea it’s like their marketing team don’t know what they are doing. They are choking,, sending weird stuff, who cares if these guys buy 199 church... investors are not stupid, end users are even more cautious. Lol, maybe a picture of warren buffet buying may move ppl,,, they should have just let these CEOs or presidents of whatever post on their instagram and be subtle about it. Make it look more realistic not staged... marketing team full of realtors staging everything damn.

Before i saw this photo when ppl were saying 70% sold i was like, wow maybe i should take another look at this project and consider it. Now after seeing this shit i can tell its like 40% sold.
Newbie
Jul 15, 2020
69 posts
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oasis100 wrote: I mentioned this in a earlier post

That guy is Jason Lam.

I am not allowed to disclose, but they got a huge incentive to buy.
To a consumer, this image means nothing, only realtors who work for these brokerages or in the precon game would know these people. Otherwise, it looks stupid af. and shows how desperate Centercourt is.
100% true. I have no idea who these guys are and dont care if they bought 27 units in that building because its too damn hot. Rather send out a picture of ppl standing outside in a line or justify why we need to buy this stupid tiny hallway 350sqf mini jr studio. Not pictures of CEOs signing. Omg they need to replace their marketing VP. Now i can definitely cross out this project and concentrate on Empire Quay House.

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