ArcticCrusher Posted March 17, 2017 Share Posted March 17, 2017 10 hours ago, atc said: Old thread but what a difference almost a year makes. I saw first hand how crazy the market has gotten. People we know 2 houses down from us listed Monday for $499,000 and sold by Wednesday for $835,000 crazy! It's a much older home then ours smaller, but nicely recently renovated. Just a crawl space and a newer 2 car garage. Main things it had going for it our quiet street. So close to the lake and it's 100' wide by 140' deep lot. We are getting ready to sell were thinking of starting at 599 but who knows now. Many times agents will setup bidding wars by setting the asking price below market value and then even place the first bid on the property. Glad you neighbor got more than they wanted, but there is no way I would ever bid on a property with an existing bid on it. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 17, 2017 Share Posted March 17, 2017 10 hours ago, Puzzleboy said: BMO says we're on track for adjusted 80s highs, if we keep this pace up for 2 more years. I just hope our idiotic government doesn't interfere. They already have in BC. Wynnebag and Co are re-debating it. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 17, 2017 Share Posted March 17, 2017 1 hour ago, Sksman said: Not like it hasnt been discussed. The coyote that is. Different Neighbours continually say things like put the mange infested one out of its misery etc. But if you did shoot with crossbow they would likely be first to rat you out. Or worse the thing runs up on road with a bolt/arrow stuck out of it and is reported. Then shit hits fan. No doubt, lots of rats around. You could always get it to Canada Goose before anyone notices. Quote Link to comment Share on other sites More sharing options...
2strokemerc Posted March 17, 2017 Share Posted March 17, 2017 The news reported last night that prices have gone up 39% in Barrie in the last year. Houses two/three years ago that went for 350k are selling for 600k. It's crazy. But as was said if I want to get a better property in my neighbourhood it's going to cost me a small fortune. I'm not going to get into a mortgage now at my age, so I'll just stay here and renovate. I'll have to build a garage in the backyard to keep all my junk. Quote Link to comment Share on other sites More sharing options...
Thinksno Posted March 17, 2017 Share Posted March 17, 2017 (edited) My house- an older bungalow was close to the 115 and not far to the new 407 interchange. It sold for more than 100g's than what real estate said I should list at. I sold to someone who commutes to Oshawa and wanted out of there, bought a brand new larger fully finished custom built home that is 10 times the quality and even has a dock on Buckhorn for same money. Awesome market! Edited March 17, 2017 by Thinksno 2 Quote Link to comment Share on other sites More sharing options...
02sled Posted March 17, 2017 Share Posted March 17, 2017 12 hours ago, atc said: Old thread but what a difference almost a year makes. I saw first hand how crazy the market has gotten. People we know 2 houses down from us listed Monday for $499,000 and sold by Wednesday for $835,000 crazy! It's a much older home then ours smaller, but nicely recently renovated. Just a crawl space and a newer 2 car garage. Main things it had going for it our quiet street. So close to the lake and it's 100' wide by 140' deep lot. We are getting ready to sell were thinking of starting at 599 but who knows now. The GTA has been increasing in price steadily and now it is spilling out into other areas. It was reported on the news last night that Barrie prices have gone up about 40% in the past year. One family sold their Barrie home and were amazed at the increased value. They wanted to move to a bigger house but seemed to have overlooked that those too had gone up proportionately and were in fact out of reach for them. They did a trade off. They bought a larger house in Orillia for less than they sold their house in Barrie and were able to realize a net profit in their pockets. The empty nesters that are downsizing are also able to put a good chunk of cash in their pockets as well. Quote Link to comment Share on other sites More sharing options...
Reevester Posted March 17, 2017 Share Posted March 17, 2017 3 hours ago, 2strokemerc said: The news reported last night that prices have gone up 39% in Barrie in the last year. Houses two/three years ago that went for 350k are selling for 600k. It's crazy. But as was said if I want to get a better property in my neighbourhood it's going to cost me a small fortune. I'm not going to get into a mortgage now at my age, so I'll just stay here and renovate. I'll have to build a garage in the backyard to keep all my junk. Yep insane. I bought at 330k 3 years ago come July. Easily could sell for 600 now, but unless we move north we aren't making any money. Quote Link to comment Share on other sites More sharing options...
Puzzleboy Posted March 17, 2017 Share Posted March 17, 2017 Problem with buying in Orillia is..... you're in Orillia. Quote Link to comment Share on other sites More sharing options...
JohnnyB Posted March 17, 2017 Share Posted March 17, 2017 (edited) 3 hours ago, Thinksno said: My house- an older bungalow was close to the 115 and not far to the new 407 interchange. It sold for more than 100g's than what real estate said I should list at. I sold to someone who commutes to Oshawa and wanted out of there, bought a brand new larger fully finished custom built home that is 10 times the quality and even has a dock on Buckhorn for same money. Awesome market! Hey Bob..u buy in the old three buoys property or closer to Buckhorn? Nice btw! Edited March 17, 2017 by JohnnyB Quote Link to comment Share on other sites More sharing options...
Puzzleboy Posted March 17, 2017 Share Posted March 17, 2017 I think the northern markets will falter first. Some of these areas are hardly commuter distance to Toronto, and the traffic is getting insane. Quote Link to comment Share on other sites More sharing options...
Puzzleboy Posted March 17, 2017 Share Posted March 17, 2017 Even if you move north, you're not making any money. You'll just own a property worth less, and will appreciate to a lesser extent. 1 hour ago, Reevester said: Yep insane. I bought at 330k 3 years ago come July. Easily could sell for 600 now, but unless we move north we aren't making any money. Quote Link to comment Share on other sites More sharing options...
Reevester Posted March 17, 2017 Share Posted March 17, 2017 15 minutes ago, Puzzleboy said: Even if you move north, you're not making any money. You'll just own a property worth less, and will appreciate to a lesser extent. I already own property up there too. If it ever happened I'm sure I'd end up selling both and buying a forever home with property. I'd definitely be making money my mortgage is far below 330. Quote Link to comment Share on other sites More sharing options...
Puzzleboy Posted March 17, 2017 Share Posted March 17, 2017 You make money, if you could buy the same house, in the same area, for less money. Hard to do. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 17, 2017 Share Posted March 17, 2017 24 minutes ago, Puzzleboy said: I think the northern markets will falter first. Some of these areas are hardly commuter distance to Toronto, and the traffic is getting insane. Usually its the overpriced home that will tank the most. I remember homes back in the late 80's that sold for almost 800K get cut almost in half when the market went south, but the 200K homes did not fare too bad. A 600K home in Barrie will fair much better than a 3 million home in TO, mark my words. Quote Link to comment Share on other sites More sharing options...
Puzzleboy Posted March 17, 2017 Share Posted March 17, 2017 (edited) I agree, that the more expensive the home, the more it will falter. I was more comparing a typical single TO family home to something similar more north. The demand in TO is much less likely to slow down, especially considering the foreign demand to launder their money. Edited March 17, 2017 by Puzzleboy Quote Link to comment Share on other sites More sharing options...
2strokemerc Posted March 17, 2017 Share Posted March 17, 2017 7 minutes ago, ArcticCrusher said: Usually its the overpriced home that will tank the most. I remember homes back in the late 80's that sold for almost 800K get cut almost in half when the market went south, but the 200K homes did not fare too bad. A 600K home in Barrie will fair much better than a 3 million home in TO, mark my words. I hope you're right. In a few years I'll retire and if I can convince my wife to sell I'll go north and pocket some money for retirement. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 17, 2017 Share Posted March 17, 2017 16 minutes ago, Puzzleboy said: I agree, that the more expensive the home, the more it will falter. I was more comparing a typical single TO family home to something similar more north. The demand in TO is much less likely to slow down, especially considering the foreign demand to launder their money. The markets more north are pretty much immune to what happens in TO. I bought a cottage 10 years ago and the resale has been pretty much flat over that period. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 17, 2017 Share Posted March 17, 2017 18 minutes ago, 2strokemerc said: I hope you're right. In a few years I'll retire and if I can convince my wife to sell I'll go north and pocket some money for retirement. Well we have some time to go but that is our plan as well, at least mine. Wife is still undecided. Quote Link to comment Share on other sites More sharing options...
Puzzleboy Posted March 17, 2017 Share Posted March 17, 2017 More north, yes. Cottages are different. Prices in Barrie, for example, are directly a result of Toronto pricing. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 17, 2017 Share Posted March 17, 2017 13 minutes ago, Puzzleboy said: More north, yes. Cottages are different. Prices in Barrie, for example, are directly a result of Toronto pricing. I agree and thing is nobody would ever have predicted the housing market regardless of what they say. Same as the stock market but that is for another conversation. Quote Link to comment Share on other sites More sharing options...
Puzzleboy Posted March 17, 2017 Share Posted March 17, 2017 Yep, or they'd all be rich! My only realistic barometer, has been that we're still cheap compared to other large cities. And that's still the case. Quote Link to comment Share on other sites More sharing options...
02sled Posted March 17, 2017 Share Posted March 17, 2017 45 minutes ago, ArcticCrusher said: The markets more north are pretty much immune to what happens in TO. I bought a cottage 10 years ago and the resale has been pretty much flat over that period. If the economy goes down the drain like happened years ago second properties / cottages will be the first thing to go and the hardest hit. People will fight much harder to keep their home than they will the cottage. There was a time where the market was flooded with cottages for sale and the prices plummeted. Although MPAC keeps trying to tell me our cottage country properties have been sky rocketing in value the real estate agents tell me otherwise. Quote Link to comment Share on other sites More sharing options...
Puzzleboy Posted March 17, 2017 Share Posted March 17, 2017 Good ol' MPAC...... at least they're conservative with our city values...... Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 17, 2017 Share Posted March 17, 2017 10 minutes ago, 02sled said: If the economy goes down the drain like happened years ago second properties / cottages will be the first thing to go and the hardest hit. People will fight much harder to keep their home than they will the cottage. There was a time where the market was flooded with cottages for sale and the prices plummeted. Although MPAC keeps trying to tell me our cottage country properties have been sky rocketing in value the real estate agents tell me otherwise. If they did not thrive in good times, they won't tank in bad. Quote Link to comment Share on other sites More sharing options...
Thinksno Posted March 17, 2017 Share Posted March 17, 2017 6 hours ago, JohnnyB said: Hey Bob..u buy in the old three buoys property or closer to Buckhorn? Nice btw! Buckhorn Lake Estates just east of the Narrows on north side. Quote Link to comment Share on other sites More sharing options...
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