atc Posted March 19, 2017 Share Posted March 19, 2017 5 hours ago, JohnnyB said: How the heck did you get a lumber supplier to do that? You must of been a royal pita. That's a first time I've ever come across a supplier coming through after install and a rain storm. Before yes.I can understand why you make a good front man in retail. Did Rick frame you up? I saw him a year or so ago. Velcan is a wholesaler, great pricing and service. One of the few not under the Alpa group......yet Actually I wasn't. One phone call all it took about an issue. I didn't even go to the site I was at work. They worked it out with my framer. And no Rick wasn't the framer. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted March 25, 2017 Share Posted March 25, 2017 Thought this was interesting and as it relates to home purchases. Seems like CRA went after the home buyer when the seller skipped on paying the capital gains tax. The seller was not a Canadian citizen and does not qualify for the exemption. The new owner then sued his agent (successfully) for failing to disclose this to him even though Revenue Canada does a poor job going after these guy. Why the new owner is responsible for the previous owners tax obligation is beyond me. Can a new buyer do a holdback on the tax owing and only release the funds once the obligation is cleared by CRA? Cue in JT, this is an area of tax evasion you should go after. FYI, my SIL sold her new condo before the full property tax bill calcs came in from TO. The new owner did do a holdback, that was over two years ago and TO has still not done their final calcs. http://vancouversun.com/news/local-news/house-buyer-beware-landmark-b-c-court-ruling-will-shake-real-estate-industry Quote Link to comment Share on other sites More sharing options...
atc Posted April 30, 2017 Share Posted April 30, 2017 Little ways away But the new house in Severn Bridge (Different color though) 3 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Blackstar Posted May 1, 2017 Platinum Contributing Member Share Posted May 1, 2017 On 3/17/2017 at 8:54 PM, Blackstar said: I'm sure everyone understands that. But you can bank money if you sell high, and buy for less in another area if it doesn't cost you to commute. Selling or renting out my property is part of my retirement plan. Around here, you can sell at the south end of Kitchener (401 access) and move to the north side of Waterloo (extra 15 minutes to 401) and pocket some money. My neighbour and I are still not in agreement on what his property is worth (been going back and forth for a year now). I'd buy for what I think its worth but he has a much higher value in mind. He expects to get more than his asking price in the add. I think he's $50k high. Time will tell. https://www.realtor.ca/Residential/Single-Family/17885164/523-Sawmill-Road-Woolwich-Ontario-N2J4G8 My neighbour's house is still sitting on the market 6 weeks later. I guess I was right. They are out of the market on price even at $460k. And the longer it sits, the less likely they will be to sell. Just as well. I decided to concentrate on paying down my mortgage and building towards retirement. If they come at a realistic price, I will look at it again. Disappointing for them as they hoped to retire this year. Quote Link to comment Share on other sites More sharing options...
atc Posted May 1, 2017 Share Posted May 1, 2017 6 hours ago, Blackstar said: My neighbour's house is still sitting on the market 6 weeks later. I guess I was right. They are out of the market on price even at $460k. And the longer it sits, the less likely they will be to sell. Just as well. I decided to concentrate on paying down my mortgage and building towards retirement. If they come at a realistic price, I will look at it again. Disappointing for them as they hoped to retire this year. Sales in our area haven't been as crazy even slightly before the provincial plan. Mainly because now there is many people trying to cash in. No shortage of homes for sale, many instead of under priced I would say now over priced. And definitely alot longer on the market. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted May 1, 2017 Share Posted May 1, 2017 (edited) 1 hour ago, atc said: Sales in our area haven't been as crazy even slightly before the provincial plan. Mainly because now there is many people trying to cash in. No shortage of homes for sale, many instead of under priced I would say now over priced. And definitely alot longer on the market. The provincial plan (foreign tax) will do little to stop the markets since there are to few of them to really make much of a difference. Its supply and demand, although it sends a clear message to foreign investors that they are not welcome and won't be treated fairly. Toronto will not become another New York/London from local investment alone. The Wynnebag rent control changes will likely do more harm as owners will be dumping their properties as rents likely do do cover expenses, expenses that are in no way capped at 2.5%, so that imbalance will become far worse as time goes on. A perfect solution to a demand problem is to reduce inventory. Edited May 1, 2017 by ArcticCrusher Quote Link to comment Share on other sites More sharing options...
JohnnyB Posted May 1, 2017 Share Posted May 1, 2017 Foreign buyers are more than you may suspect. Lot of my business is through them. I see a lot of occupied homes (vacant in reality) in subdivisions now. Chinese and Persians like to gamble on real estate. Quote Link to comment Share on other sites More sharing options...
steve6 Posted May 1, 2017 Share Posted May 1, 2017 10 hours ago, Blackstar said: My neighbour's house is still sitting on the market 6 weeks later. I guess I was right. They are out of the market on price even at $460k. And the longer it sits, the less likely they will be to sell. Just as well. I decided to concentrate on paying down my mortgage and building towards retirement. If they come at a realistic price, I will look at it again. Disappointing for them as they hoped to retire this year. Pretty small place, and has some unfortunate dating issues. That kitchen floor is hideous, they may be better off covering it with even a nice but cheap laminate. No major accessory buildings hurts as well for that area.. I see the garage but its small. There was a house in town here that was beautiful inside but older house... started at 700k.. no bites for a good 4/5 weeks, went down to 625 at one point.. got a bit of interest and sold around the middle point of those two values.. only takes two people with enough interest. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted May 1, 2017 Share Posted May 1, 2017 12 minutes ago, JohnnyB said: Foreign buyers are more than you may suspect. Lot of my business is through them. I see a lot of occupied homes (vacant in reality) in subdivisions now. Chinese and Persians like to gamble on real estate. The stats say about 5%. They are there, but is that enough to drive our market? Vancouver market is already increasing again. Worse thing the governments can do is meddle. Will the tax and rent control be lifted if/when the markets go south? Quote Link to comment Share on other sites More sharing options...
02sled Posted May 1, 2017 Share Posted May 1, 2017 (edited) 28 minutes ago, JohnnyB said: Foreign buyers are more than you may suspect. Lot of my business is through them. I see a lot of occupied homes (vacant in reality) in subdivisions now. Chinese and Persians like to gamble on real estate. Stats are showing it at just under 5% as foreign buyers in the GTA. The tax will do nothing but give the government more money to piss away, They should keep their paws out of it since they will likely only make things worse. Edited May 1, 2017 by 02sled Quote Link to comment Share on other sites More sharing options...
04nightfire Posted May 1, 2017 Share Posted May 1, 2017 House two doors down from my old one just sold. House was 29 years old, needed a new roof, windows and had a wet basement. Sold for 151k over asking by a Chinese couple and they are going to bulldoze it and build new Quote Link to comment Share on other sites More sharing options...
atc Posted May 1, 2017 Share Posted May 1, 2017 4 hours ago, JohnnyB said: Foreign buyers are more than you may suspect. Lot of my business is through them. I see a lot of occupied homes (vacant in reality) in subdivisions now. Chinese and Persians like to gamble on real estate. I would go as far to say Persians more so at least in our area. And really fall under the radar in most talks about who's buying. Quote Link to comment Share on other sites More sharing options...
smokin george Posted May 1, 2017 Share Posted May 1, 2017 Beautiful 4 acre level lot , driveway and Hydro very private around the corner from my place $64,500. Anyone interested 49 Austin Drive. Quote Link to comment Share on other sites More sharing options...
Let it Snow! Posted May 1, 2017 Share Posted May 1, 2017 2 hours ago, 04nightfire said: House two doors down from my old one just sold. House was 29 years old, needed a new roof, windows and had a wet basement. Sold for 151k over asking by a Chinese couple and they are going to bulldoze it and build new Jesus, where? Quote Link to comment Share on other sites More sharing options...
steve6 Posted May 1, 2017 Share Posted May 1, 2017 4 minutes ago, Let it Snow! said: Jesus, where? He is in Orillia. Pretty common these days, everyone needs 3500+ square feet and 12 car driveway. Quote Link to comment Share on other sites More sharing options...
02sled Posted May 1, 2017 Share Posted May 1, 2017 A friend just sold his parents house in Toronto at Eglington and Allen Rd., ranch style house single car garage just sold for $1.4M. The house would need to be totally redone inside by someone buying it. A couple from Hong Kong bought the house and are tearing it down to build new. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted May 1, 2017 Share Posted May 1, 2017 29 minutes ago, 02sled said: A friend just sold his parents house in Toronto at Eglington and Allen Rd., ranch style house single car garage just sold for $1.4M. The house would need to be totally redone inside by someone buying it. A couple from Hong Kong bought the house and are tearing it down to build new. My cottage neighbours sold their late grandfather's home a complete teardown for 1.2 million in the same area. Bought by a Jewish builder, so maybe things are getting back to normal. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Blackstar Posted May 1, 2017 Platinum Contributing Member Share Posted May 1, 2017 6 hours ago, steve6 said: Pretty small place, and has some unfortunate dating issues. That kitchen floor is hideous, they may be better off covering it with even a nice but cheap laminate. No major accessory buildings hurts as well for that area.. I see the garage but its small. There was a house in town here that was beautiful inside but older house... started at 700k.. no bites for a good 4/5 weeks, went down to 625 at one point.. got a bit of interest and sold around the middle point of those two values.. only takes two people with enough interest. Yep, plenty of negatives with only one positive. Its a one acre lot. The place is only appealing to a small number of people and they aren't willing to pay that kind of money. They should have taken my offer last year. Every where you go, all anyone is talking about is the real estate market. Customer I was talking to Saturday buys houses and rents them out. He picked up 2 semis in the fall he says he could flip now and make $100k on each. He parents bought the last unit in a townhouse complex in October for $309k. A realtor told them it should sell for around $425k now. That's just stupid. Glad I'm not out there trying to buy. Hear stories of multiple offers over asking (5, 10, 15, sometimes 20 or more). Then, a friend of my parent's put a duplex on the market. He thought he'd easily get $800k. He listed for $699 and got offers around the $600 mark. He had rented the 2 units out too cheap so there wasn't enough income to cover the mortgage. Quote Link to comment Share on other sites More sharing options...
Puzzleboy Posted May 1, 2017 Share Posted May 1, 2017 The foreign buyers scheme will do zilch. They'll have that skirted before the ink is dry on the legislation...... Phoney local addresses, phantoms, etc. Quote Link to comment Share on other sites More sharing options...
JohnnyB Posted May 2, 2017 Share Posted May 2, 2017 I'm not sure on that 5%, I think they are lacking in real time info. Chinese will do whatever it takes to buy, friends family etc they will find a way around our market. I know a small builder very well in Markham, his sales are almost 100% Chinese. There may be one Canadian family member buying 20 homes for themselves, stats won't show this. One story of a client of mine trying to buy in Oakville....His agent showed 8 homes to an investor, at the end of the day he asked which one he wanted...."I'll take it" was the response....All 8....yuup. between 2 and 5 mill each. I got more stories like this. Market is fawked! 5% nation wide maybe , in reality the GTA is likely 30% or more....just my experiance. I don't think the Govt would waste their time on 5% In Vancouver there was a sharp and distinct drop in sales, once the investors figured they can still make money it's back to the way it was. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted May 2, 2017 Share Posted May 2, 2017 34 minutes ago, JohnnyB said: I'm not sure on that 5%, I think they are lacking in real time info. Chinese will do whatever it takes to buy, friends family etc they will find a way around our market. I know a small builder very well in Markham, his sales are almost 100% Chinese. There may be one Canadian family member buying 20 homes for themselves, stats won't show this. One story of a client of mine trying to buy in Oakville....His agent showed 8 homes to an investor, at the end of the day he asked which one he wanted...."I'll take it" was the response....All 8....yuup. between 2 and 5 mill each. I got more stories like this. Market is fawked! 5% nation wide maybe , in reality the GTA is likely 30% or more....just my experiance. I don't think the Govt would waste their time on 5% In Vancouver there was a sharp and distinct drop in sales, once the investors figured they can still make money it's back to the way it was. Perhaps they went by the long form census data? 1 Quote Link to comment Share on other sites More sharing options...
Stoney Posted May 2, 2017 Author Share Posted May 2, 2017 43 minutes ago, JohnnyB said: I'm not sure on that 5%, I think they are lacking in real time info. Chinese will do whatever it takes to buy, friends family etc they will find a way around our market. I know a small builder very well in Markham, his sales are almost 100% Chinese. There may be one Canadian family member buying 20 homes for themselves, stats won't show this. One story of a client of mine trying to buy in Oakville....His agent showed 8 homes to an investor, at the end of the day he asked which one he wanted...."I'll take it" was the response....All 8....yuup. between 2 and 5 mill each. I got more stories like this. Market is fawked! 5% nation wide maybe , in reality the GTA is likely 30% or more....just my experiance. I don't think the Govt would waste their time on 5% In Vancouver there was a sharp and distinct drop in sales, once the investors figured they can still make money it's back to the way it was. x2....that pretty much sums it up. Just put a blip in the sales, but not for long. Quote Link to comment Share on other sites More sharing options...
Puzzleboy Posted May 2, 2017 Share Posted May 2, 2017 Won't even be a blip. Quote Link to comment Share on other sites More sharing options...
JohnnyB Posted May 2, 2017 Share Posted May 2, 2017 On Tuesday, May 31, 2016 at 4:40 PM, Taillight said: sorry guys, I cant wait for this market to crash You may be waiting a while.. Bucci just sold her house for 2.05 mill Our old neighbourhood is nuts. Quote Link to comment Share on other sites More sharing options...
04nightfire Posted May 2, 2017 Share Posted May 2, 2017 19 hours ago, Let it Snow! said: Jesus, where? On Couchiching just north of Orillia Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.