Ask a Realtor anything

[Weirfan]

List $1,299,990. Sold $1,395,000. Paid $965,000 a year ago. Not a bad return.

Definitely a nice return if it was just a flip and they don't have to buy another house that went up by as much or more over the same timeframe.

about 37% after fees.

[hookminor]

Definitely a nice return if it was just a flip and they don't have to buy another house that went up by as much or more over the same timeframe.

about 37% after fees.

Not sure that it was a flip, per se. There were renters in that house for the last year, and I don't recall really seeing any work being done on the house between the time it was purchased and when the renters moved in. In any case, it appears that the renters have left. Not sure if they were told to leave because the owner decided to sell, or if the owner decided to sell because the renters left.

[Marty Canuck]

Not sure that it was a flip, per se. There were renters in that house for the last year, and I don't recall really seeing any work being done on the house between the time it was purchased and when the renters moved in. In any case, it appears that the renters have left. Not sure if they were told to leave because the owner decided to sell, or if the owner decided to sell because the renters left.

Or the owner raised the rent so much they had to leave?

[4underthru9]

Was down at the Royal Bank Plaza looking over some really nice watches at Mani Jewelers https://manijewellers.com/ great prices and service.
Anyways learnt that Oxford has sold the Royal Bank Building and Plaza effective February 1st IIRC, asking price was apparently close to 1 Billion.
Also interesting fact that the approximately 14,000 gold coloured windows actually contain real gold worth today at about $5.5 million dollars.
Question who is the buyer?

[Benz]

This is the kind of idiocy which sometimes comes out of 'think tanks'.

Recommending an annual tax on homes valued at more than $1MM in order to generate funds to build 'co-op and rental' housing.

https://www.msn.com/en-ca/news/canada/think-tank-says-taxing-homes-worth-1-million-or-more-could-help-make-housing-more-affordable-in-canada/vi-AASxVFw?ocid=msedgntp

[hookminor]

Would you please tell me the list price and final selling price for 30 Milford Crescent in Brampton?
Thank you.

[wlorcb]

Would you please tell me the list price and final selling price for 30 Milford Crescent in Brampton?
Thank you.

Listed for 999,999.00(this makes no sense, keep it under a mil I guess?) on the 17th
Sold for 1,410,000.00 3 days ago

And it basically sold unseen. There are no interior pics at all on the listing, just the 2 exterior shots. Probably the listing realtor had someone in mind to take around to see it.

[veryold]

My Wife and I will be HAPPY RENTERS for the rest of our lives, LOL, but just curious that there is such a low number of listings these days. Any reason(s) for that ? For ex. in Mississauga's Absolute Towers (Meryllin Monroe ) few years back there were on average up to 25-30 listings on average - this morning there is 1.
Cheers to all

[dmcdam]

My Wife and I will be HAPPY RENTERS for the rest of our lives, LOL, but just curious that there is such a low number of listings these days. Any reason(s) for that ? For ex. in Mississauga's Absolute Towers (Meryllin Monroe ) few years back there were on average up to 25-30 listings on average - this morning there is 1.
Cheers to all

People could sell and make good money but where are they going to move to that isn't overpriced?

[Chambokl]

People could sell and make good money but where are they going to move to that isn't overpriced?

You might be surprised how many moved up north and are now driving prices of real estate higher . . .

[Fore Warned]

You might be surprised how many moved up north and are now driving prices of real estate higher . . .

Interesting. Any insight on motives, apart from just cashing in on property sales, e.g. lifestyle change, retirees, looking for new work, or working remotely? Have to think that access to the great outdoors and recreational opportunities would be of interest, but the long cold winters would come as quite a shock for those used to more southern climes. Not to mention travel distances if relatives still down south.

[unskinnybop99]

People could sell and make good money but where are they going to move to that isn't overpriced?

One option is rent. As long as you invest (i.e., solid blue chip dividend paying stocks) the money from the house, renting can be a very lucrative option.

Having said that, watching real estate prices increase 10, 20, 30 percent is hard to beat.

[Marty Canuck]

One option is rent. As long as you invest (i.e., solid blue chip dividend paying stocks) the money from the house, renting can be a very lucrative option.

Having said that, watching real estate prices increase 10, 20, 30 percent is hard to beat.

Unless you are young and trying to get in the market like my children are faced with.

It will correct itself. It will just generally take longer to come down than to shoot up unless interest rates go crazy.

[dmcdam]

One option is rent. As long as you invest (i.e., solid blue chip dividend paying stocks) the money from the house, renting can be a very lucrative option.

Having said that, watching real estate prices increase 10, 20, 30 percent is hard to beat.

It's an option for some. I was only commenting on why there doesn't seem to be a lot of listings right now. Likely will pick up in a month or two.

[jaybee]

Interesting. Any insight on motives, apart from just cashing in on property sales, e.g. lifestyle change, retirees, looking for new work, or working remotely? Have to think that access to the great outdoors and recreational opportunities would be of interest, but the long cold winters would come as quite a shock for those used to more southern climes. Not to mention travel distances if relatives still down south.

I think you have mentioned some of the main factors but personally speaking with a handful of colleagues from my work who have moved out of the city, and some even out of the province there were a few other things I found that came up in some of the convos. Affordability with current salary is one common thing. A lot of people in general are typically underpaid in their position and with prices of everything going up, it is hard to keep up with GTA costs compared to some other areas.

Another interesting topic which was mentioned by a couple people was Toronto has become a very "busy" city over the past few years. Sure in terms of construction, but also just a lot of negative attention that takes place here. Rallies and protest, violence and crimes, discrimination, etc. A few of them said that they wanted to go to a more "quiet" area. More outdoor spaces, fresher environment and calmer surrounding with not many things taking place so often

The last was that re-occurred a few times was just the fact they were able to get in to things more quicker. A few of them had tried different places in the GTA and were either outbid on multiple occasions(and at an overprice value) or when looking at new construction builds, the wait time was far too long