Real Estate

In which month will open houses start happening again...

  • Last Updated:
  • Apr 13th, 2020 2:37 pm

Poll: Which month do open houses start again

  • Total votes: 85. You have voted on this poll.
May
 
3
4%
June
 
16
19%
July
 
18
21%
August
 
10
12%
September
 
13
15%
Not happening in 2020
 
25
29%
[OP]
Deal Addict
Jul 3, 2007
3318 posts
3648 upvotes
Toronto

In which month will open houses start happening again...

Lets have a vote ....
14 replies
Deal Guru
Feb 22, 2011
10175 posts
12596 upvotes
Toronto
This doctor who is also a professor posts amazing videos for Canada about COVID, he is saying a realistic possible goal could be June 3 to start lifting lock down;

Deal Addict
User avatar
Mar 30, 2010
3168 posts
1051 upvotes
Greater Toronto Area
dentonic88 wrote: A few months after the vaccine has been developed for coronavirus.

Keep looking at: (Updated April 9, 2020, at 2:30 p.m)
https://milkeninstitute.org/sites/defau ... 9-20-2.pdf
We're going to be done with the first wave, and maybe even the second wave, several months (or years) before the vaccine is available for the masses. Why would we keep ourselves locked down after that? Not to mention that according to FEMA, we're actually doing more harm than good to the healthcare system by prolonging the lockdown, but that's a a conversation for another day.

Things will reopen this year, most likely around July or August.
<removed>
Deal Fanatic
Mar 27, 2004
5374 posts
3275 upvotes
Toronto
8 solid bears have voted so far.
Full-time Realtor
Deal Guru
Feb 29, 2008
14214 posts
10524 upvotes
oasis100 wrote: 8 solid bears have voted so far.
And that's only because "Never" was not an option.
[OP]
Deal Addict
Jul 3, 2007
3318 posts
3648 upvotes
Toronto
mazerbeaner wrote: This doctor who is also a professor posts amazing videos for Canada about COVID, he is saying a realistic possible goal could be June 3 to start lifting lock down;

June could be a reasonable lift on the lockdown in stages ...
Deal Fanatic
Jul 3, 2011
5792 posts
2958 upvotes
Thornhill
so weird, I pressed June and it recorded May
Member
Jul 2, 2018
264 posts
258 upvotes
Honestly, open houses aren't even needed. Anyone who is serious can book an appointment and come see the place.

They are good in a hot market when you want to get a bunch of people in before the offer presentation date, but usually open houses are just to find those buyers who think they are saving money without an agent and then the listing agent screws them and double ends the deal.
Realtor + Investor
Deal Fanatic
Mar 27, 2004
5374 posts
3275 upvotes
Toronto
RealtorInvestor wrote:
open houses are just to find those buyers who think they are saving money without an agent and then the listing agent screws them and double ends the deal.
lmao


Open Houses are for the listing agents to get new clients.
Full-time Realtor
Deal Fanatic
User avatar
Sep 8, 2007
9004 posts
10283 upvotes
Way Out of GTA
oasis100 wrote: lmao


Open Houses are for the listing agents to get new clients.
The whole focus on open houses is a rouse to heighten fear and paranoia. Anyone serious in buying a house in this market can do the virtual open house and as the first wave passes book a private viewing.

Near term for sure it’s a buyers market where you get to buy without a gun head to your head in a bidding war, where you don’t have to make a rash decision on the spot. Prices however have not fallen off a cliff. In fact as house deliveries stall and some sellers pull their listings...we are in a bit of a vacuum. I suspect there will be some good deals if overlevered precon flippers get cold feet. Take a look at former bull and now eat the rich bear Condoman98.... If I’m a buyer I’d love to pick one of these newly minted doomers off.

Longer term, mass open houses will recede in terms of importance (as if they ever were) ...private viewing still driving the brunt of serious buyers. Once risk taking comes back for the banks and the spread between govt rate and mortgage rates narrow, govt stimulus to get people working (like the home Reno tax rebate) ....its going to become sellers market again. May take awhile to get there, but it will.

And the bear? Still whining about boomers....cap rates should be 8-9%...and will in most cases very definitely miss whatever window emerges to buy. They will do it in the stock market, they will do it in RE. They just are not wired to take risk. They see a world where they are owed all the upside but on the back of knowing when the bottom is and therefore assuming zero risk. Zero risk, maximum return types.
[OP]
Deal Addict
Jul 3, 2007
3318 posts
3648 upvotes
Toronto
cartfan123 wrote: The whole focus on open houses is a rouse to heighten fear and paranoia. Anyone serious in buying a house in this market can do the virtual open house and as the first wave passes book a private viewing.

Near term for sure it’s a buyers market where you get to buy without a gun head to your head in a bidding war, where you don’t have to make a rash decision on the spot. Prices however have not fallen off a cliff. In fact as house deliveries stall and some sellers pull their listings...we are in a bit of a vacuum. I suspect there will be some good deals if overlevered precon flippers get cold feet. Take a look at former bull and now eat the rich bear Condoman98.... If I’m a buyer I’d love to pick one of these newly minted doomers off.

Longer term, mass open houses will recede in terms of importance (as if they ever were) ...private viewing still driving the brunt of serious buyers. Once risk taking comes back for the banks and the spread between govt rate and mortgage rates narrow, govt stimulus to get people working (like the home Reno tax rebate) ....its going to become sellers market again. May take awhile to get there, but it will.

And the bear? Still whining about boomers....cap rates should be 8-9%...and will in most cases very definitely miss whatever window emerges to buy. They will do it in the stock market, they will do it in RE. They just are not wired to take risk. They see a world where they are owed all the upside but on the back of knowing when the bottom is and therefore assuming zero risk. Zero risk, maximum return types.
very much agree with you , the open house is all about psychology and creating a fear in buyers that other people are looking at the same house....

everything in RE marketing is designed to stir up the buyers emotions and fomo...

hence why there are ridiculous bidding wars still and buyers / agents completely over paying for homes with no need to...
Deal Guru
Feb 29, 2008
14214 posts
10524 upvotes
RealtorInvestor wrote: Honestly, open houses aren't even needed. Anyone who is serious can book an appointment and come see the place.

They are good in a hot market when you want to get a bunch of people in before the offer presentation date, but usually open houses are just to find those buyers who think they are saving money without an agent and then the listing agent screws them and double ends the deal.
Yep. Open houses are nothing more than agents building their client base. There are times where they’ll find buyers through an open house but it’s more of a rarity. Shit I go open houses with 0 interest if buying. Just go to out of curiosity.
Deal Addict
Nov 24, 2013
1384 posts
738 upvotes
Toronto
July at the earliest if we peak by the end of April.

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