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Nov 2, 2020
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crucial1 wrote: I live in the Alderwoord Etobicoke area and have been watching some townhouse condos sitting on the market finally start to move:
https://housesigma.com/web/en/house/Z5B ... 8-W5003791

So it seems like they might be picking up a little bit although I actually thought this unit would have got its asking price tbh.
Yes that had nice finishing on it. I found this freehold in Etobicoke went for a great price in December. 4 bedroom, 2300 sq ft sold for 968k
https://housesigma.com/web/en/house/XRl ... e-W5053128
Sr. Member
Feb 14, 2010
578 posts
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Toronto
Chocobrownie wrote: This was around 820-850k from the builder in FEB 2020...
Once again no surprise here. Mortgage rates are 1% and most likely to drop even more. Banks will likely offer cash back just for you to borrow money. Fed is telling us inflation is coming so holding cash is very dangerous. Hard assets like gold, real estate, farm land, and collectibles will go through the roof.
House prices will stability once we know what the true value of the dollar will be compared to other assets.
I personally think we are just at the beginning; just wait till you see prices double in a year then triple the year after. Remember there are trillions of fiat dollars out there chasing assets that hold value long term.
Last edited by thelastword on Jan 19th, 2021 10:51 am, edited 1 time in total.
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Oct 21, 2020
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Chocobrownie wrote: This was around 820-850k from the builder in FEB 2020...
Holy shit this just 30”. Even in July, larger 36” and even 43” lots could be had for under 1.2 (with upgrades thrown in like oak floors/staircases and decor dollars) in New Seaton.
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Feb 22, 2011
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Raysm85 wrote: Holy shit this just 30”. Even in July, larger 36” and even 43” lots could be had for under 1.2 (with upgrades thrown in like oak floors/staircases and decor dollars) in New Seaton.
What's is this a house for ants??? 30 inches is nothing.
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Feb 22, 2011
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What are the odds this high park house goes for asking?

W5086899
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Nov 8, 2006
108 posts
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crucial1 wrote: Wow things are getting even crazier then I imagines...can't believe people are paying 1.6 mil for this in Oakville wtf lol
https://housesigma.com/web/en/house/bqB ... e-W5085428
These selling prices are getting absolutely mental!

This has clearly got to be a temporary supply issue. Curious to know what you guys think will happen in the spring when more supply should be hitting the resale market. Do we see small pullback from these extreme levels? Or do you think these levels will be sustained?
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Oct 26, 2007
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saigonv wrote: These selling prices are getting absolutely mental!

This has clearly got to be a temporary supply issue. Curious to know what you guys think will happen in the spring when more supply should be hitting the resale market. Do we see small pullback from these extreme levels? Or do you think these levels will be sustained?
funny i was actually going to post that. i (my client) actually made an offer on that home for 1.4 mil and we thought we were severely overpaying but heck 1.6? figure another 300k in renos so that house is essentially 1.9 mil.
only 9 offers on that property and the offer date was moved from a week from now to yesterday because there was so much interest.

look at W4982861
exact same house but more upgrades. sold for 1.4 in NOVEMBER. 200k appreciation in 2 months (probably more considering glenashton had many more upgrades in the home)
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bLuPhYrE wrote: funny i was actually going to post that. i (my client) actually made an offer on that home for 1.4 mil and we thought we were severely overpaying but heck 1.6? figure another 300k in renos so that house is essentially 1.9 mil.
only 9 offers on that property and the offer date was moved from a week from now to yesterday because there was so much interest.

look at W4982861
exact same house but more upgrades. sold for 1.4 in NOVEMBER. 200k appreciation in 2 months (probably more considering glenashton had many more upgrades in the home)
I don’t understand the appreciation within 2 months but sort of see it so often now. I understand it is supply and demand but it’s hard for people to think that if they don’t jump on the purchase they will lose our forever. That being said I’ve seen
A simple back to back 2 bedroom townhouse 1100 sq ft in Oakville sell for almost 800k so maybe all of this is just normal

https://housesigma.com/app/en/listing/DO1w3WqV6pdy8Jg0
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Oct 26, 2007
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atom2020 wrote: I don’t understand the appreciation within 2 months but sort of see it so often now. I understand it is supply and demand but it’s hard for people to think that if they don’t jump on the purchase they will lose our forever. That being said I’ve seen
A simple back to back 2 bedroom townhouse 1100 sq ft in Oakville sell for almost 800k so maybe all of this is just normal

https://housesigma.com/app/en/listing/DO1w3WqV6pdy8Jg0
its not logical for that home to sell for 1.6
its pure MAINA. i have 3 clients that were actively making offers on homes last year that are now waiting and accepting the fact that the market is completely irrational right now
i dont blame them. always a risk of home prices going up even more, but i really don't think this rally is sustainable. i also could be completely wrong. 1mil for a townhouse seems only a matter of time?
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bLuPhYrE wrote: its not logical for that home to sell for 1.6
its pure MAINA. i have 3 clients that were actively making offers on homes last year that are now waiting and accepting the fact that the market is completely irrational right now
i dont blame them. always a risk of home prices going up even more, but i really don't think this rally is sustainable. i also could be completely wrong. 1mil for a townhouse seems only a matter of time?
I agree and I think people have gone bonkers. I find all the realtors here would stop their clients from this but some people are unstoppable lol and will buy at any cost
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Jan 20, 2012
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In another bidding war for a single car garage detached today. ~2500 sqft, 4 beds in East Gwillimbury. It was asking for $899k. 11 offers. Lowest bid is $980k and highest is over $1.1M in 1st round already. Now entering 2nd round...
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Oct 30, 2017
481 posts
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miscbrah1 wrote: Go train. Stops in Oshawa, Ajax, Whitby, Pickering, straight to Union station.
Taking a train from Whitby or Oshawa to downtown is not THAT quick. It's doable in a pinch though.
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Feb 24, 2017
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bLuPhYrE wrote: its not logical for that home to sell for 1.6
its pure MAINA. i have 3 clients that were actively making offers on homes last year that are now waiting and accepting the fact that the market is completely irrational right now
i dont blame them. always a risk of home prices going up even more, but i really don't think this rally is sustainable. i also could be completely wrong. 1mil for a townhouse seems only a matter of time?
Its way over 1 million in Vaughan to get a townhouse

3 bdr /3 wash room townhouse sells for almost 1.3 million in Vaughan

https://housesigma.com/bkv2/landing/roo ... qXJJQYKRjD
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atom2020 wrote: I agree and I think people have gone bonkers. I find all the realtors here would stop their clients from this but some people are unstoppable lol and will buy at any cost
if i client told me they wanted a home now and they are willing to spend the money i would do it. its up to the client always. (although im sure some shady realtors are scaring people into buying in order to make a nice fat check)
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atom2020 wrote: I agree and I think people have gone bonkers. I find all the realtors here would stop their clients from this but some people are unstoppable lol and will buy at any cost
My realtor actually tried to talk me out of buying in Spring 2016 because it was a new record high in the neighborhood, I paid ~50% more than the previous buyer did just 3 years prior, no upgrades or anything. Now the house is worth 100% more.

In my opinion if they keep printing money the price of assets will just keep going up. You can't double or triple the amount of $ in existence and not expect scarce resources to go up in price.

People who paid $50k for a house back in the day never could have fathomed houses being $1.5m now, just like how we can't fathom them being $20m in 40 years. The real value of a $ is tanking in a hurry.
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Aug 13, 2020
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If this continues, some intervention by policy makers is coming. I noticed people starting to talk about this on twitter and in press also. It is wait and watch now!
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Nov 12, 2019
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DealFind25 wrote: If this continues, some intervention by policy makers is coming. I noticed people starting to talk about this on twitter and in press also. It is wait and watch now!
Can you link the sources?

Government intervention has always been a risk to consider. I wonder how are they going to intervene when half of the market is behaving quite differently (condos).
Last edited by RaC1550 on Jan 18th, 2021 9:34 pm, edited 1 time in total.

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