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  Canada Immigration Forum > About Canada > Real Estate & Mortgages > Present House market in GTA area is incredibly insane...
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Present House market in GTA area is incredibly insane...




After reading this, I am pretty sure to buy a house will be a dream for middle class people....

IMO our children will be have a dream forever only to buy a house in GTA area after 15 years.

House price is extremely crazy....Cgh:(

Don Mills home sells for $1.15 million over asking price.....really.....:cuss:

Fifty years ago, a young couple paid $27,000 for a modest home in Don Mills. That approximately 1,500-square-foot house sold for $2.3 million, more than $1.15 million over the nearly $1.19 list price on Wednesday.

The home on Norden Cres. near Lawrence Ave. East and Don Mills Rd., drew 31 offers following 175 showings over nine days. Two weekend open houses attracted another 75 viewers, said listing agent Sohail Mansoor of Royal Lepage Signature Realty.

We anticipated it would be busy. We could not have predicted that outcome, he said on Friday.

https://www.thestar.com/business/2017/02/10/don-mills-home-sells-for-115-million-over-asking.html

is this effect because of USA election/Trump elected? or Chinese people are bringing all money to North America?


 
Last edited by: RBO on 13-02-17 14:07:13
RBO

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Member since: Aug 06
Posts: 1674
Location: Mississauaga

Post ID: 233981 13-02-17 13:48:26
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Full House
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Member since: Oct 12




Posts: 1986
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Few years back people bought a home, then another and soon after that a complex and may be a strip plaza later on. All these were dreams. The dream is still the same, but it has taken a different form. Just buy one property and live in it and then sell it fifty years later and then make your big bucks. That is a different route that they are taking.

What is so different? You be the one to tell me what your dream is? If it is the owning of a property, then go a little distance away and buy or build one then live in it and then will come a time when there is a demand for it and sell and move on.

I remember a guy who was working in side of one of the Boxes planted in the bushes on my street. He had a big huge truck and a ladder on his roof. Said that he lived 80 MILES away on HWY 10 then. That was a few good years ago. Last summer I passed by that way on a Saturday and guess what, I ran into the same guy and sat down at Timmies for a coffee with him, after 30 years. He said that that place is booming now, thanks to the RFugees he is selling lots in that area after dividing his acreage now. Each lot is 40 x 100 goes for 125000 and an acre gives him 11 of them. He says he is moving into town and will be in the office, just a walking distance from work. Did he plan all this? NAW, just happens that he hung in there till he found it was a good time to get things done his way.

So, go and do it. It does not matter how you do it. Work hard and hang in there. You got the hang of it.

FH.

Edit. Now that will help all of the neighbours. Their properties will all get priced higher.
Here is a link to it. .: https://enterhome.ca/toronto/5-norden-crescent


 
Last edited by: Full House on 13-02-17 16:23:06
Post ID: 233988 13-02-17 16:21:15
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febpreet
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What about these houses in Brampton that are still in 600s? Crappy neighborhoods? Could you still able to find a detached (2 Car garage - with Basement, and less than 10-15 years old) in Halton Hills, Milton, Brampton, Georgetown, Caledone for under $700s?

How's it going at Mount Pleasant area (Brampton)?

https://www.realtor.ca/Residential/Single-Family/17792570/2-DUNURE-Crescent-Brampton-Ontario-L7A2Y5-Fletchers-Meadow

https://www.realtor.ca/Residential/Single-Family/17800155/342-BRISDALE-Drive-Brampton-Ontario-L7A3B9-Fletchers-Meadow

https://www.realtor.ca/Residential/Single-Family/17790298/31-EMMETT-Circle-Brampton-Ontario-L7A3M2-Fletchers-Meadow

On the other hand, Metro Vancouver's market hasn't picked up yet since the 15% foreign buyer tax. Having said so, prices haven't fallen and it's hard to find a decent detached in a decent neighborhood (suburbs, i.e. Surrey, which is more like Brampton) listed/selling for under $800k. Vancouver proper is still not less than $1.5-2 mils (crappy 40 years old houses).


 
Last edited by: febpreet on 14-02-17 15:55:40
Post ID: 234000 14-02-17 15:49:07
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RBO
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Member since: Aug 06




Posts: 1674
Location: Mississauaga


Quote:
Originally posted by febpreet

What about these houses in Brampton that are still in 600s? Crappy neighborhoods? Could you still able to find a detached (2 Car garage - with Basement, and less than 10-15 years old) in Halton Hills, Milton, Brampton, Georgetown, Caledone for under $700s?

https://www.realtor.ca/Residential/Single-Family/17792570/2-DUNURE-Crescent-Brampton-Ontario-L7A2Y5-Fletchers-Meadow

https://www.realtor.ca/Residential/Single-Family/17800155/342-BRISDALE-Drive-Brampton-Ontario-L7A3B9-Fletchers-Meadow

https://www.realtor.ca/Residential/Single-Family/17790298/31-EMMETT-Circle-Brampton-Ontario-L7A3M2-Fletchers-Meadow</font>



Now a days, intentionally Agents are listing house price way less than current value of the house to attract more buyers to fall in Bid war.

plus depends on area price is vary too.

House was sold over $200000 asking price.... ;)

http://bramptonist.com/house-brampton-sells-200000-asking/


 
Post ID: 234001 14-02-17 16:15:58
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realdevsahni.fb
Junior Desi
Member since: Feb 17




Posts: 1
Location:


As of now, the market is steep 'caz of supply. buyers are getting panicky after getting into offer presentations and loosing out. I have witnessed an old townhouse selling for more than 700k while you can get brand new for less.

Situation is deplorable and there is nobody to blame but the city for planning the reduction of single family homes and giving rise to concentrated living in condos and " Urban towns". there is no cap on builders for charging avg. $700 / sq ft for a condo and then change in the name of maintenance. but if you want a bush and a garden you have to act now before the listings are gone to a new high. long gone the days when price changes were a yearly event, if you watch the market prices are going up daily ! :(


 
Post ID: 234002 14-02-17 16:19:22
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