Ask a Realtor anything

[Benz]

With over 41,000 views of this thread, you tell me.

I should have added a smiley...

[Benz]

Sheesh....is it February already? keep your shirt on!

Can't. Lost my shirt in real estate...

[Chambokl]

Thanks. A blast from the past. J-P is a successful local entrepreneur, community supporter and philanthropist, who has close ties to Deluce. Having grown up in Timmins, his name was never far from what was happening in town.

Yes good man and very involved in the Community . . .

[mpare]

Dave, what do you think about the dangers of these kinds of agreements generally? For my part, I have always been wary of them.

Ontario condo developer suddenly cancels years-long sales deal — unless buyers pay $100K more (msn.com)

[davepratt]

Dave, what do you think about the dangers of these kinds of agreements generally? For my part, I have always been wary of them.

Ontario condo developer suddenly cancels years-long sales deal — unless buyers pay $100K more (msn.com)

They are scary and becoming more and more prevalent. It's odd but I've never heard of a builder reducing the sale price if material costs fell.

[Fore Warned]

They are scary and becoming more and more prevalent. It's odd but I've never heard of a builder reducing the sale price if material costs fell.

One of the reasons why we are not considering pre-builds in our condo search. The other is that there is also the situation where people are left holding the bag when a condo developer defaults or pulls out of a project. Sure they get their deposit back, but two or more years down the line, the market has moved and they now can't afford what they originally bought into.

Home buyers are really not being protected in these circumstances.

[wlorcb]

Dave, what do you think about the dangers of these kinds of agreements generally? For my part, I have always been wary of them.

Ontario condo developer suddenly cancels years-long sales deal — unless buyers pay $100K more (msn.com)

At least their units were actually under construction. There are a few stories of this happening after 1 or 2 years delay, and then the project gets cancelled.

I think what most infuriates people is that if you buy a pre-build and the price of housing drops(stop laughing, it does happen), try getting the builder to reduce the price to what the market is. They will happily cancel the contract, but you are not going to get your deposit back.

It's like going to Costco and buying something and when you reach the exit where they check your receipt, they tell you that you have to pay $5 more to take that toaster out of the store, or all the kijiji buyers who show up to buy something but now only want to pay $50 less than what you agreed upon.

[wlorcb]

Is there some sort of equivalent to House Sigma that works for Nova Scotia?

[OKHC]

I don't think that the Costco or Kijiji comparisons are valid. Although the builder's actions seem unfair, they are likely allowed in the contract between the builder and the buyer.

[IrishGuy1979]

I've seen some ensuite bathrooms in my time - but this one takes the cake. And with a full length window right next to the can.

Must now be a trend

[davepratt]

Must now be a trend

Actually as homes get smaller, this is the new trend.

[Arthur Dailey]

Remember a hockey tournament in the Brantford/Paris Ontario area. Had one game in an old barn. We had a very large dressing room with a toilet right in the middle with no surround/partition and the sink at the other end of the dressing room.

So here is my question to a real estate agent. When can we expect this real estate boom to bust/stall?

[davepratt]

Remember a hockey tournament in the Brantford/Paris Ontario area. Had one game in an old barn. We had a very large dressing room with a toilet right in the middle with no surround/partition and the sink at the other end of the dressing room.

So here is my question to a real estate agent. When can we expect this real estate boom to bust/stall?

Nobody can predict this. It could be tomorrow and it could be never.

[davepratt]

Remember a hockey tournament in the Brantford/Paris Ontario area. Had one game in an old barn. We had a very large dressing room with a toilet right in the middle with no surround/partition and the sink at the other end of the dressing room.

So here is my question to a real estate agent. When can we expect this real estate boom to bust/stall?

Remember the disgusting troughs at Maple Leaf Gardens?

[Arthur Dailey]

Nobody can predict this. It could be tomorrow and it could be never.

Just pulling your leg. If you knew then you would probably already own your own private course.
I am old enough to remember:

• The early/mid 1960's when housing prices in Toronto were 'stagnant'.
• The boom of the late 1970's.
• 1981-82 when mortgage rates went so high that some just walked away from their home.
• The massive boom of late 1985 to early 1989. It took over a dozen years for prices to return to 1989 levels.

With the current price of housing in comparison to average wage/income rates, I just cannot see this being sustainable. Particularly in outlying regions. In Toronto it may be, if we become/are like London, New York, etc meaning a 'world city' where people from all over the globe 'invest' their money.