Last night my client offered $620,000 with no conditions on an Aurora townhome that was listed at $569,000. There were 11 offers and it sold for $700,000!. This is getting to be nuts!
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Re: Crazy Real Estate market !!!
I seems to me like it's FANTASTIC for the sellers, but not so much for buyers.
I cannot imagine being a first-time homebuyer right now. Interest rates are 'good', but the cost of the houses are way up there. -
Re: Crazy Real Estate market !!!
Downsizers are the Winners!Every great idea starts out as a blasphemyComment
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Re: Crazy Real Estate market !!!
Visited my Daughter in Alliston yesterday.
Noticed a "sold" sign on the house next door.
I told her I didn't notice the for sale sign whe I was up last Monday.
She said that was because it went up Tuesday and was sold by Thursday, over asking, with no home inspection or other conditionsBramptonComment
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My daughter and son-law just bought ,north oshawa,4 bed 3 bath for 425k.there are homes out there,I was suprised to see cheap condos in the city,some sketchy areas but a few buys to get into home ownership.Comment
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700,000 for a townhouse? wow....must be a really nice townhouse. Where are the people buying from? The city?Originally posted by davepratt View PostComment
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This is the housing market currently:
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This isn't a dress rehearsal. Enjoy yourself. There's no do-over.Comment
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Dave, it is nuts. Far too many people are willing to spend hundreds of thousands or millions of dollars on a house without even doing a proper inspection. These are the same folks who would never, ever, buy a used car without taking it for a spin. This kind of silliness will bite us in the arse sooner or later.
Originally posted by davepratt View PostThis isn't a dress rehearsal. Enjoy yourself. There's no do-over.Comment
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This. I'd love to sell my place but actually get any money out of it unless I either downsize (not an option) or move north of Hwy 9 (not really an option yet). Kinda feeling stuck right now. Better 5 year plan might be to buy land and build something.Originally posted by Big Shooter View PostWe may not be good but at least we'll be slow - PB
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It will bite the minute interest rates go up. Even a 1% jump and you'll see alot of fore closures.Originally posted by mpare View PostComment
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Bubble, bubble, I smell troubleComment
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It's a time bomb waiting to go off.Originally posted by Jhnandrsn View Post
Who knows when...but it will be ugly.
BladerunnerComment
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Re: Crazy Real Estate market !!!
Last week put an offer in on a townhouse listed at 589K. Our offer was $640K, no conditions. Sold for $719K!!! Based on comps and market adjustments it should have sold for $620K
Last night. List house was $850K. Agent calls me end of last week and says he thinks he's overpriced but is still holding off offers until last night. Based on comps and his own commentary probably listed 20-30 higher than it should have been
Multiple offers last night it sold for 101K over list. after a pow wow in the parking lot with the other losing agents we were all within a grand of each other for our top offers at approx. $860K. I guess whomever bought it really wanted that house!!
I am insisting that the houses I list have a home inspection done prior to us listing. Peace of mind and all that jazz and allows buyers to remove that condition with a little more confidence. (My home inspector returns to the property with the buyers to go over the entire inspection again). I pay for this for themComment
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