Opinion on detached property for sale in Mississauga (Meadowvale)

RadioDude wrote: ↑Hello Everyone:
My fiance and I stumbled across this property for sale at 7085 Tamar Mews in Mississauga, it's currently listed for 999k but we noticed that a nearby identical house (7012 Tamar Mews) was sold for 1.25 mil just a couple of weeks ago. We like the area because it's very accessible to everything we need, Go bus, shopping, parks, Montessori/elementary school within walking distance for future little ones. How much do you think is a fair offer for this property at the current market trend? The bidding date is next tuesday so we would hope to get everyone's input before then. We've been searching for a home for a while and am getting tired of losing out on bidding wars. Thanks!

echo_jey wrote: ↑ So they deliberately posted the list price low to ignite bidding war? I never experienced bidding but it’s very stressful I imagine if you liked the place. I prefer directly from builder and will have a lot of time to make decisions on financing later. For a long long years nothing happened to housing market in terms prices so I hardly believe the price will ever go down??

RadioDude wrote: ↑ We really like that this is detached while being still within our budget (I hope).

amadis wrote: ↑ If your budget is 1 mil, then don't waste your time putting in an offer. As echo__jey said, they have purposely put it on the market to get people like yourself interested and then caught up in the bidding war.

You should be adding at least 25% (probably 30-35%) to your million budget if you want this place (just based on your numbers of what the comparable went for).

RadioDude wrote: ↑ Our budget can handle 1.25. Jokerpersona suggested bidding under 1.2 mil and from what I've seen, the 0.25% increase didn't bring down the market at all. One thing pointed out by our agent is that instead of there being 10 offers for a house, now it's 5...This is our life now by the looks of it

HammerTime wrote: ↑ According to properly.ca, the estimated value is $1,285,000.

RadioDude wrote: ↑ Hm how accurate do you find the properly estimated value?

HammerTime wrote: ↑ Sorry, haven't been paying enough attention to compare the estimates to actual sold prices. But another site, zoocasa.ca says "similar properties sold for an average of $1,289,331", so very close to the properly estimate.

synthetic1 wrote: ↑ Man the lack of good feedback and useful numbers under this thread is disappointing. Only one reply with a proper number.

This property will sell for $1.175m - $1.225m unless there's an uninformed crazy bidder to ruin it for all others.

Having said that, unless I really really wanted the house, I would bid $1.14m in this market (slightly off all time highs and clouded by recent world events). You might win and feel like you got a deal (which is quite funny given these numbers we're talking about)

synthetic1 wrote: ↑ Man the lack of good feedback and useful numbers under this thread is disappointing. Only one reply with a proper number.

This property will sell for $1.175m - $1.225m unless there's an uninformed crazy bidder to ruin it for all others.

Having said that, unless I really really wanted the house, I would bid $1.14m in this market (slightly off all time highs and clouded by recent world events). You might win and feel like you got a deal (which is quite funny given these numbers we're talking about)

jblade44 wrote: ↑ I wonder how long this 'cloudiness' with Putin will last? The war could go on for months and I do not see buyers being hesitant forever. I had 12 showings and only one offer so something definitely is going on. Agent told us do not take offer and the offer was 200K under value. Still 150K over asking but average in neighborhood in past couple months has been 250-350K over asking. Bottom line is inventory is still very low and rates will get another hike within next couple months so I do not think it will last long.. but who knows.