Personal Finance

GTA Real Estate - Provide your input.

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  • May 10th, 2014 3:43 pm
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Deal Fanatic
Dec 5, 2009
5575 posts
3333 upvotes
peidyt17 wrote: Hi All,

New to Toronto and not sure how to start a new thread, so just jump on this thread given some people have talked about new developments. Anyways, any advice for how much to buy a 3 garage, 4-5000ft detached new development in Thornhill, Markham, Richmond Hill or Oakville? Any views on which developer has good reputation?

I've checked some of the developers sites, but they don't provide price lists and don't return emails. Just checking before I start calling as I know I'll get a lot of sale talk.

Moving to GTA in 2015.

Cheers
Hard to comment on pricing without knowing details on the land (street, neighbourhood, lot size) but I would budget $1.2M+. As for builders, they all suck depending on who you talk to.
[OP]
Deal Fanatic
May 1, 2012
9384 posts
8276 upvotes
Markham
peidyt17 wrote: Hi All,

New to Toronto and not sure how to start a new thread, so just jump on this thread given some people have talked about new developments. Anyways, any advice for how much to buy a 3 garage, 4-5000ft detached new development in Thornhill, Markham, Richmond Hill or Oakville? Any views on which developer has good reputation?

I've checked some of the developers sites, but they don't provide price lists and don't return emails. Just checking before I start calling as I know I'll get a lot of sale talk.

Moving to GTA in 2015.

Cheers
Lebovic is building / selling these at Bloomington / Leslie in Richmond Hill. Their sales office is open atm. No prices, so you have to show up and ask.
Deal Addict
Jan 11, 2004
1277 posts
161 upvotes
gomyone wrote: Lol - funny how you chastise me for my "numerous predictions for a soft landing" yet despite your " numerous" predictions of bubbles, bubbles, bubbles, Canada hasn't crashed (neither has Australia or New Zealand despite your attempt to restate what a crash is).

Anyways, your crash talk is completely irrelevant. This thread is about the strength of the GTA real estate market. If you feel the urge to continue talking about crashes there are numerous threads about said topic you should revisit - some go back as far as 2006 as I'm sure you know since your crash predictions form a major part of the content in these now defunct threads.
This is the exact problem with statistics and economic forecasting. You can make statistics tell any story you want, the value is not in the numbers but the person interpreting the numbers. That is why you can have 2 people look at the same data and come away with very different conclusions. That coupled with the non-intuitive/counter-intuitive nature of statistics, many people get it wrong and badly at that.
Sr. Member
Jan 30, 2006
857 posts
286 upvotes
gomyone wrote: Lol - funny how you chastise me for my "numerous predictions for a soft landing" yet despite your " numerous" predictions of bubbles, bubbles, bubbles, Canada hasn't crashed (neither has Australia or New Zealand despite your attempt to restate what a crash is).

Anyways, your crash talk is completely irrelevant. This thread is about the strength of the GTA real estate market. If you feel the urge to continue talking about crashes there are numerous threads about said topic you should revisit - some go back as far as 2006 as I'm sure you know since your crash predictions form a major part of the content in these now defunct threads.
right now my urge is to expose you as an empty talker
and your fantasies about mysterious never seen soft landing
Deal Addict
User avatar
Jun 28, 2007
3862 posts
1025 upvotes
kashirin wrote: right now my urge is to expose you as an empty talker
and your fantasies about mysterious never seen soft landing
Well that's pretty lame. Thanks for another low content post. I never expected much from you, but now I can't even bother responding to you and your insults anymore. :facepalm:
Deal Expert
User avatar
Apr 21, 2004
54023 posts
18972 upvotes
gomyone wrote: Well that's pretty lame. Thanks for another low content post. I never expected much from you, but now I can't even bother responding to you and your insults anymore. :facepalm:
He/she is getting thanked for each one of his/her post. :) There is an incentive to post on this thread, when there's an admirer.
Deal Addict
User avatar
Jan 2, 2012
3894 posts
1728 upvotes
Toronto
kashirin wrote: and your fantasies about mysterious never seen soft landing
I don't think you understand what a "soft landing" actually is.

A soft landing will be an overall housing market correction of a 5-20% dip in prices, a very minor increase to the default/arrears or foreclosure rates, and a reasonably quick recovery back to typical RE growth levels. Something like this has already happened in Vancouver.

A crash will be a 50%+ dip in prices, a massive spike to default rates and foreclosures, and widespread economic chaos lasting years (like what happened in the US).

Odds are, we see a soft landing if anything, or even just a period of stagnant growth until prices start climbing again.
Deal Guru
Feb 29, 2008
12265 posts
7386 upvotes
at1212b wrote: Are you talking about the price being unreal or Maintenance costs:

Maintenance Fees
$260.51 Monthly
The price. That's a 500 sqft condo.
Deal Expert
Mar 23, 2009
18116 posts
4608 upvotes
Toronto
Whisky! Tango! Foxtrot!

Lawrence Park ‘fixer upper’ gets 72 offers, goes for 195 per cent of asking

As bidding wars go, it was the ultimate battle and a warning for frantic buyers bracing for spring market: A five-bedroom detached house in the Yonge and Lawrence area has sold for almost double its $699,000 list price with a record 72 offers.

Image

“We expected in the $1.1 million range, but the market pushed it,” said listing agent Bradley Hutton, who sold the Glencairn Ave. house for $1.366 million, about 195 per cent of list price.

More than 1,000 people booked appointments or toured the 1930s Glencairn Ave. fixer-upper over the last 10 days before the offer deluge Sunday night. About 80 per cent of the offers were for over $1 million, even though the house, on a 30 by 127.66 foot lot in prime Lawrence Park, was being sold in “as is” condition.

“Attention renovators & builders,” said the MLS listing which attracted dozens of callers, many asking if the extremely lowball $699,000 list price was a “typo.” “House is full of knob and tube (wiring), fireplace has not been used in years.”
Deal Guru
Dec 11, 2008
10019 posts
1494 upvotes
^ so basically 25% over expected price. I wonder what he historical prices were in this neighbourhood.

Lots of rich people.
[OP]
Deal Fanatic
May 1, 2012
9384 posts
8276 upvotes
Markham
gomyone wrote: Well that's pretty lame. Thanks for another low content post. I never expected much from you, but now I can't even bother responding to you and your insults anymore. :facepalm:
It's that guy 'Motoss' who keeps thanking anything and everything associated with a negative outlook on RE.

He is also a huge RE bear who happens to be very happy owning. Quite ironic.
[OP]
Deal Fanatic
May 1, 2012
9384 posts
8276 upvotes
Markham
Luckyinfil wrote: WTF does sold AS IS mean?
Ever buy a used car? It's sold as whatever you see or not see. No recourse for remorse. No inspection, no frills, and no complaints. You take it or leave it.
Jr. Member
Apr 9, 2010
173 posts
11 upvotes
GTA
Lol. The winning bid was also the listing agent's client.
Trading pride for credit, one day at a time.

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