Real Estate

GTA house market

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  • Mar 28th, 2024 11:33 pm
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Deal Fanatic
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Nov 4, 2008
7675 posts
10978 upvotes
Scarbs
Buy it, insure it, mysteriously burn it, and rebuild!
When given enough time, all threads on RFD can and will go off on a tangent.
Member
Oct 8, 2018
368 posts
559 upvotes
tendyman wrote: All this was true in 2017 as well. Why did prices fall then?
With
  1. Future immigration numbers and demand for rentals/leasing (blessing of liberal govt..i cannot put in words anymore)
  2. Everyone's interest in buying a home as WFH conditions continue until mid of 22 atleast
  3. Just the house prices hike we have seen since last year i.e. about 20-30% increase (no way we might see a 30% drop)
I think we can be optimistic of home prices flattening or a slight drop during the next few months.
Deal Addict
Mar 2, 2017
3841 posts
7804 upvotes
Toronto/Markham
Good find, this is a beauty. This is arguably one of the worst houses I've seen, I can't stand homes where the garage is the focal point (overly common) of the front. The architect went out of his way to make sure to hide the most important focal point of the home (the front door). This guy should have his license revoked, I don't care if he was trying to make up for layout efficiency. What a disaster.

It's a power of sale, probably called by a private lender.
RE Broker
Sr. Member
Jul 18, 2020
753 posts
1218 upvotes
tendyman wrote: All this was true in 2017 as well. Why did prices fall then?
Do you think Trudeau can do what comrade Xi did.
In September, some cities intensified their campaigns to drive speculators out of the property market. In Xiamen, the southeastern city further tightened property curbs on top of existing measures, prohibiting first-time home buyers from reselling their properties for five years.

The tougher restrictions, along with tighter rules on borrowing for property purchases, have weighed on near-term demand, analysts said.
https://www.reuters.com/world/china/chi ... 021-10-20/

^ This is a pipe dream for the reddit /r/canadahousing/
Deal Addict
User avatar
Oct 9, 2001
1454 posts
779 upvotes
Toronto
I Iive in the area and IMHO the buyer here completely overpaid. Might be a modern home but crappy location on a court which is not a true court being on the corner of a busy street.

$2,888,000, Detached, 2 Delverton Pl, North York, C5395191, Sold - HouseSigma

https://housesigma.com/bkv2/landing/roo ... Xj1KN3j2q8
Deal Expert
Feb 29, 2008
21738 posts
21353 upvotes
Tarrana & The Ri…
brockster wrote: I Iive in the area and IMHO the buyer here completely overpaid. Might be a modern home but crappy location on a court which is not a true court being on the corner of a busy street.

$2,888,000, Detached, 2 Delverton Pl, North York, C5395191, Sold - HouseSigma

https://housesigma.com/bkv2/landing/roo ... Xj1KN3j2q8
Lets revisit in 5 year.
Sr. Member
Sep 29, 2015
552 posts
651 upvotes
Toronto, ON
mao246 wrote: I wonder if this update will make people scramble to convert their variable rate to fixed
It shouldn’t. If the market works properly, then fixed rates should rise beforehand in anticipation of rate hikes on the horizon.
Deal Addict
Jan 13, 2021
1106 posts
2581 upvotes
RichmondCA wrote: I can't stand homes where the garage is the focal point (overly common) of the front. The architect went out of his way to make sure to hide the most important focal point of the home (the front door). This guy should have his license revoked, I don't care if he was trying to make up for layout efficiency. What a disaster.
I see ugly shit like this all over GTA and people seem to not mind it at all. How can you pay $1.5m-$2m for a house and not have a **** proper ground-floor window overlooking the front of your house?!! This is why backsplits are awesome in my opinion (minus the crawlspace waste, but hey, it's better than this nonsense)
Deal Fanatic
User avatar
Dec 4, 2009
9335 posts
5638 upvotes
brockster wrote: I Iive in the area and IMHO the buyer here completely overpaid. Might be a modern home but crappy location on a court which is not a true court being on the corner of a busy street.

$2,888,000, Detached, 2 Delverton Pl, North York, C5395191, Sold - HouseSigma

https://housesigma.com/bkv2/landing/roo ... Xj1KN3j2q8
I Google Map'ed it, wow, you're not kidding.

As nice as it is, that house sticks out like a sore thumb. Totally out of place in that neighbourhood.
"I'm a bit upset. I've been grab by the back without any alert and lubrification"
Lucky
Deal Fanatic
User avatar
Dec 4, 2009
9335 posts
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That is fricken brutal. I bet it smells like death in there too.

I love the Housesigma estimated price "$1,094,905".
"I'm a bit upset. I've been grab by the back without any alert and lubrification"
Lucky
Deal Addict
Feb 19, 2019
2347 posts
4020 upvotes
Stouffville ON
thandong19 wrote: May I ask your opinions on this century house (>100 years house)
It is fully renovated, good location. What might be common problem for house this old?

$1,649,000, Detached, 2612 Lake Shore Blvd W, Etobicoke, W5384280, For Sale - HouseSigma https://housesigma.com/bkv2/landing/roo ... D615xYqlAp
In short everything.
Foundation, waterproofing, electrical, plumbing, heating, termites, asbestos......
Check for permits, you would need to contact the city, on the website I can only see the permit for the addition which is a good thing, but you would want to contact the city and esa, or get a proof of work done with permits.
This house had alot of structural work done over the years, just from the photos you can see the brick is different in many places due to resizing or the addition of the windows.
Just from the quick glance at the photos the siding on the side under the chimney will need to be redone, floors are very likely sagging, the framing around the attic window doesn't look like it's protected from the elements, not sure what type of shingles are above that window but looks like older and lesser quality than the new shingles on the roof of the house, and judging by the discoloration it was already repaired. You will likely find more small (or large) issues in person such as signs of water damage in the basement.
Your utility bills will likely be very high.

Do the sellers have their own inspection done? (if yes who did it).
I would never recommend buying a 100 year old house without inspection (especially where the basement is finished) unless you plan on gutting it, and even the inspector may not be able to find all the issues.
The biggest issue is being on a busy road with streetcars, and being on the wrong side of the road ;-)
Full Time and Full Service Realtor
Member
Dec 6, 2012
283 posts
681 upvotes
Toronto
brockster wrote: I Iive in the area and IMHO the buyer here completely overpaid. Might be a modern home but crappy location on a court which is not a true court being on the corner of a busy street.

$2,888,000, Detached, 2 Delverton Pl, North York, C5395191, Sold - HouseSigma

https://housesigma.com/bkv2/landing/roo ... Xj1KN3j2q8
I remember looking at the back-split house that was there before in 2009 when it was for sale; I liked lot size and location, just not the house itself. Good for whoever bought it then, they could not time the new build and sale better; buyer overpaid by at least 500k...
Sr. Member
Aug 13, 2020
779 posts
812 upvotes
synthetic1 wrote: I see ugly shit like this all over GTA and people seem to not mind it at all. How can you pay $1.5m-$2m for a house and not have a **** proper ground-floor window overlooking the front of your house?!! This is why backsplits are awesome in my opinion (minus the crawlspace waste, but hey, it's better than this nonsense)
Another design is to have a detached garage at the back. Allows a more functional layout with front windows on main floor. Smaller houses rarely have front windows with the attached garage. Only negative may be getting to the car in cold weather but then in GTA weather is not as bad as other areas in Canada.
Also, please explain what is a backsplit design?
Newbie
Apr 24, 2018
30 posts
8 upvotes
senasena wrote: In short everything.
Foundation, waterproofing, electrical, plumbing, heating, termites, asbestos......
Check for permits, you would need to contact the city, on the website I can only see the permit for the addition which is a good thing, but you would want to contact the city and esa, or get a proof of work done with permits.
This house had alot of structural work done over the years, just from the photos you can see the brick is different in many places due to resizing or the addition of the windows.
Just from the quick glance at the photos the siding on the side under the chimney will need to be redone, floors are very likely sagging, the framing around the attic window doesn't look like it's protected from the elements, not sure what type of shingles are above that window but looks like older and lesser quality than the new shingles on the roof of the house, and judging by the discoloration it was already repaired. You will likely find more small (or large) issues in person such as signs of water damage in the basement.
Your utility bills will likely be very high.

Do the sellers have their own inspection done? (if yes who did it).
I would never recommend buying a 100 year old house without inspection (especially where the basement is finished) unless you plan on gutting it, and even the inspector may not be able to find all the issues.
The biggest issue is being on a busy road with streetcars, and being on the wrong side of the road ;-)
Thank you so much for a very detailed post. I really appreciated it.
There seems to be a lot of potential issue with this old house. Maybe that’s why it has been in the market for a while.
Deal Addict
Feb 19, 2019
2347 posts
4020 upvotes
Stouffville ON
thandong19 wrote: Thank you so much for a very detailed post. I really appreciated it.
There seems to be a lot of potential issue with this old house. Maybe that’s why it has been in the market for a while.
No problem.
The issues I have mentioned based on the photos are fairly minor (although could cause bigger issues if not addressed or there is water penetration already), any house that is 100 years old has a potential for alot of issues, and many of them are hidden behind the walls.
That's why I think they are great candidates for gut jobs or if renovated there is a proof of the work done such as permits, invoices etc.
Full Time and Full Service Realtor
Deal Addict
Mar 2, 2017
3841 posts
7804 upvotes
Toronto/Markham
senasena wrote: No problem.
The issues I have mentioned based on the photos are fairly minor (although could cause bigger issues if not addressed or there is water penetration already), any house that is 100 years old has a potential for alot of issues, and many of them are hidden behind the walls.
That's why I think they are great candidates for gut jobs or if renovated there is a proof of the work done such as permits, invoices etc.
I was going to say, a lot of times you can get the photos of the renos from the sellers (if you ask). Here it looks like it was multiple renos and judging by the pics and some parts of the house especially the condition of baseboards in the basement it looks like the type of place that got the lipstick on a pig treatment. I could be wrong, impossible to tell without seeing the place, but a few giveaway across the exterior and interior.
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