Real Estate

Ottawa and Surrounding Area Real Estate market discussion

  • Last Updated:
  • Mar 29th, 2024 9:41 am
Deal Addict
Nov 26, 2004
4462 posts
4129 upvotes
R8247 wrote: This realtor is very blunt about how much you should bid for this home. Smiling Face With Open Mouth And Tightly-closed EyesSmiling Face With Open Mouth And Tightly-closed EyesSmiling Face With Open Mouth And Tightly-closed Eyes

Who's buying all these $1.2M bungalows?

Seniors with equity but don't like stairs or need the extra bedrooms?
Hmm.... Directly from the listing description...
The same model new with less upgrades has just sold out at $1.235 million
My question is what value does he brings to the deal? He just had his client accepted an offer that is $35k less than a comparable home with less upgrade. Face With Rolling Eyes

If I am the seller, I would ask him to reduce his fees as he fails to set record on a superior product in this hot market. RFDer are just so hard to please. Grinning Face With Smiling Eyes
Member
Dec 15, 2008
461 posts
437 upvotes
Gloucester
William W wrote: Hmm.... Directly from the listing description...



My question is what value does he brings to the deal? He just had his client accepted an offer that is $35k less than a comparable home with less upgrade. Face With Rolling Eyes

If I am the seller, I would ask him to reduce his fees as he fails to set record on a superior product in this hot market. RFDer are just so hard to please. Grinning Face With Smiling Eyes
Is anyone able to verify if the price he quoted is true? Is Urbandale really selling these bungalows for $1.235M and selling out??? Don't think they had a release this year on singles yet either and I can't imagine that would be the price last year.
Jr. Member
Sep 20, 2009
135 posts
78 upvotes
Montreal
ZxExN wrote: So this bugalow in RSS went for 200k over ask at 1.2M
https://www.redfin.ca/on/ottawa/305-Mem ... /168920016

One by one these SFH are getting snatched up quick.

I'm eyeing this one in RSS to see how much it goes for. Offer is today. I'm predicting 1.05-1.1M
https://www.redfin.ca/on/ottawa/271-Bla ... /149704922
This is a 35ft model with only 1800sqft (Cranbrook)

A similar sized new Richcraft home is in the range of 870k! They still had some lots just before Christmas
Jr. Member
Sep 20, 2009
135 posts
78 upvotes
Montreal
William W wrote: Hmm.... Directly from the listing description...



My question is what value does he brings to the deal? He just had his client accepted an offer that is $35k less than a comparable home with less upgrade. Face With Rolling Eyes

If I am the seller, I would ask him to reduce his fees as he fails to set record on a superior product in this hot market. RFDer are just so hard to please. Grinning Face With Smiling Eyes
Large bungalows are always harder to sell, unless with walkout basements.

The house was built in 2020 and was probably bought in 2019. The price was around 700k. Not bad to earn half a million in this way!
Jr. Member
Sep 20, 2009
135 posts
78 upvotes
Montreal
Cruizer3000 wrote: Is anyone able to verify if the price he quoted is true? Is Urbandale really selling these bungalows for $1.235M and selling out??? Don't think they had a release this year on singles yet either and I can't imagine that would be the price last year.
Yes, last summer. They sold out all the 50 ft lots. We don’t know what models people chose to build though
Images
  • C0EAF7D0-F9B7-49D1-AC51-985D1AF9417A.png
Deal Addict
Sep 29, 2013
1000 posts
655 upvotes
koppie wrote: This is a 35ft model with only 1800sqft (Cranbrook)

A similar sized new Richcraft home is in the range of 870k! They still had some lots just before Christmas
Good one. If it fetches 1mil. for 1800sqft thats a stupid purchase
Deal Addict
Sep 29, 2013
1000 posts
655 upvotes
canabiz wrote: There is a Hintonburg triplex for sale off-market here, if you (or any other investors) are interested

https://www.kijiji.ca/v-house-for-sale/ ... 1602920170

No basement units right? I'm always leery about illegal basement units not meeting ontario building code ever since the news of that tenant who died in a fire and her family sued the landlords and won.
Deal Guru
User avatar
Jun 28, 2003
12185 posts
5651 upvotes
Ottawa
AddictRC wrote: No basement units right? I'm always leery about illegal basement units not meeting ontario building code ever since the news of that tenant who died in a fire and her family sued the landlords and won.
Can you post link to that story? There's no basement unit for this one, it's a full triplex, actually the basement is being used for coin-operated laundry and storage, per the listing.
Jr. Member
Jun 10, 2018
130 posts
89 upvotes
R8247 wrote: This realtor is very blunt about how much you should bid for this home. Smiling Face With Open Mouth And Tightly-closed EyesSmiling Face With Open Mouth And Tightly-closed EyesSmiling Face With Open Mouth And Tightly-closed Eyes

Who's buying all these $1.2M bungalows?

Seniors with equity but don't like stairs or need the extra bedrooms?
Well, some people prefer bungalows for whatever reason. I happen to be one of these people. If I were in the market to buy right now, I'd certainly look at bungalows first. You have to remember not everyone is looking for the best potential resale value down the line when it is a home they expect to live for some time.
Deal Addict
User avatar
Nov 30, 2005
2000 posts
1581 upvotes
Ottawa, ON
I love bungalows. Although I think they are more appropriate for large acreages.
Member
Feb 3, 2021
278 posts
264 upvotes
Markham
R8247 wrote: This realtor is very blunt about how much you should bid for this home. Smiling Face With Open Mouth And Tightly-closed EyesSmiling Face With Open Mouth And Tightly-closed EyesSmiling Face With Open Mouth And Tightly-closed Eyes

Who's buying all these $1.2M bungalows?

Seniors with equity but don't like stairs or need the extra bedrooms?
Huge demand for bungalows. Lots of groups including seniors, those with disabilities and I'm told a subset of parents of kids with autism (not all) are demanding bungalows.
I know in many Toronto areas, the price per sq ft for bungalows are higher than the prototypical detached 2 storey. The sale price is around the same, aka, $1.5 mil but the bungalow size is smaller.
For seniors, it is all about aging in place in bungalows so they are there for very long term until they can't live there anymore.
Newbie
Aug 19, 2020
16 posts
2 upvotes
Anyone have any idea about cheapest builder right now for TH or SFH? Ideally occupancy summer 2022!

Thanks

Top

Thread Information

There are currently 4 users viewing this thread. (4 members and 0 guests)

lucano, hunginator, savingsomemoney, Cruizer3000