#8067606 - 01/29/15 02:25 PM
Re: Bank of Canada cuts rate by 1/4%
[Re: JEFFOS]
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Screamin Type ARGH!
High Value Poster
Post Master Supreme
Registered: 02/20/01
Posts: 47668
Loc: T.O. - Canaduh
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Factor in land transfer tax to buy plus commission to sell, and it’s lost 12% Properties over 1 mil has been floundering for a while now. So a place like brampton is more likely to see increases than Lawrence park would. So you can keep blinders on over a specific 300 meters of a street, but it won't do much when the ball roles south  No area is immune. So its not irrelevant. The whole area matters. The whole point was people continually bring up some "hot area" as if its indicative as to what is happening in the overall market place. To a degree you're right and wrong. 300 meters or a specific street? Sure. If it's an entire location or city? It will be more resilient - example I don't see actual detatched houses in Toronto being affected even close to the amount or even as quickly as other areas. Oakville will be more resilient than Brampton. South mississauga will be more resilient than North etc. We won't see a crash just a slower appreciation or no appreciation. Houses on the upper end of the $? Like 1.5 M and up you have more sitting because there is a smaller market and people are looking for specific things and have specific tastes for that money - it's more than just a roof over your head. Less competition more opportunity to be picky. Then we have foreign money and investors - who knows where that is going to go.
pretty much.
as for your last comment, yeah see BC (certain areas), shit's INSANE asking for shacks. it's redonk.
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#8067702 - 01/29/15 03:02 PM
Re: Bank of Canada cuts rate by 1/4%
[Re: Euphoricuck]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29150
Loc: Toronto
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who knows where that is going to go.
apparently you do We won't see a crash just a slower appreciation or no appreciation.
I dont know where foreign investment is going to go but as mentioned in BC the main reason it's so overpriced is people coming from Asia with tons of money that just pay whatever it takes to get the place they want.
I've been in a lot of open houses where someone walks in and basically just asks the selling agent "what price do I need to pay to get this house?" At that point there is pretty much no point in even trying with a realistic price. If that slows down it should get better but the demand is still there. It's all because of Toronto.
Most going on there, most money in Canada, most opportunity and business, most popular city in Canada from outside looking in.
Calgary? Now that's powered entirely by oil - that's a problem and I can very much see a crash there in housing and cost of living (just as quickly as it skyrocketed) if prices don't turn around.
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#8070697 - 01/31/15 05:57 PM
Re: Bank of Canada cuts rate by 1/4%
[Re: Risky Business]
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spd-dmn
Post Master
Registered: 11/24/04
Posts: 2271
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$700,800
13% over asking
l.e.l.
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#8071355 - 02/01/15 11:54 AM
Re: Bank of Canada cuts rate by 1/4%
[Re: spd-dmn]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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That house is similar to mine, except mine is a 4 bedroom and on a small street. Four years ago they were selling for 4xx
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#8072654 - 02/02/15 08:10 AM
Re: Bank of Canada cuts rate by 1/4%
[Re: c2k]
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4age
XD XD XD XD
Post Master Sr
Registered: 09/11/01
Posts: 3969
Loc: North York, Ontario, Canada
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update! TD did drop prime (I guess???).
My mortgate rate is now 2.0%.
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#8072684 - 02/02/15 08:34 AM
Re: Bank of Canada cuts rate by 1/4%
[Re: 4age]
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c2k
Post Master Supreme
Registered: 05/21/00
Posts: 19291
Loc: Wiesloch-Walldorf, Germany
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update! TD did drop prime (I guess???).
My mortgate rate is now 2.0%.
nice!
are you going to do additional lump-sum to pay down a bit more?
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#8072714 - 02/02/15 08:57 AM
Re: Bank of Canada cuts rate by 1/4%
[Re: Hatorade]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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3 bdrm end unit TH in my area sold for 800k...W T F
Which day did it sell? Just checked last 3 days worth of sales in R hill and townhomes/semis are max 650ish, with one or two exceptions. 650k+ was detached.
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#8072725 - 02/02/15 09:09 AM
Re: Bank of Canada cuts rate by 1/4%
[Re: Risky Business]
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spd-dmn
Post Master
Registered: 11/24/04
Posts: 2271
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yeah if it sold this weekend it will be in tomorrows report probably
this market is depressing as fawk 
dat pickering life?
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#8072736 - 02/02/15 09:17 AM
Re: Bank of Canada cuts rate by 1/4%
[Re: Risky Business]
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Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26894
Loc: Toronto, ON
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3 bdrm end unit TH in my area sold for 800k...W T F
Which day did it sell? Just checked last 3 days worth of sales in R hill and townhomes/semis are max 650ish, with one or two exceptions. 650k+ was detached.
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#8072838 - 02/02/15 09:51 AM
Re: Bank of Canada cuts rate by 1/4%
[Re: Wildout]
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SuPeR-MaRiO
Post Master Sr
Registered: 06/28/01
Posts: 6118
Loc: Toronto, Ontario
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Mine dropped to under 2.0% 
On that note, what are current competitive rates? Trying to help someone renew their mtg
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#8072848 - 02/02/15 09:55 AM
Re: Bank of Canada cuts rate by 1/4%
[Re: SuPeR-MaRiO]
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spd-dmn
Post Master
Registered: 11/24/04
Posts: 2271
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they dropped the discount for the mostpart from what i can see
-0.8 is not as widely published as it was, but it is still out there
a few -.7s
http://www.ratehub.ca/best-mortgage-rates/5-year/variable
some of the best rates though are a cashback, so it's kind of cheating. and some also require high ratio mortgages
5-year fixed are getting good too, as bond rates have also dropped substantially over the past month
less than 0.6%-pt spread between var and fixed
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#8072935 - 02/02/15 10:34 AM
Re: Bank of Canada cuts rate by 1/4%
[Re: c2k]
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4age
XD XD XD XD
Post Master Sr
Registered: 09/11/01
Posts: 3969
Loc: North York, Ontario, Canada
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update! TD did drop prime (I guess???).
My mortgate rate is now 2.0%. nice! are you going to do additional lump-sum to pay down a bit more?
Yup - we do lump sum payments every year.
This will only help!
Euphoric - already bought mods doe XD
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#8072941 - 02/02/15 10:41 AM
Re: Bank of Canada cuts rate by 1/4%
[Re: spd-dmn]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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yeah if it sold this weekend it will be in tomorrows report probably this market is depressing as fawk dat pickering life?
Dat sucks mang
MV could use another csier, only 2 of us here and about 4 more within 3km radius
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#8076970 - 02/04/15 11:02 AM
Re: Bank of Canada cuts rate by 1/4%
[Re: Euphoricuck]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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sales and avg prices are down gta wide compared to last january.
Tell me more plz...
TORONTO, February 4, 2015 -- Toronto Real Estate Board President Paul Etherington announced a strong start to 2015, with robust year-over-year sales and average price growth in January. Greater Toronto Area REALTORS® reported 4,355 home sales through the TorontoMLS system during the first month of the year. This result represented a 6.1 per cent increase over January 2014. During the same period, new listings were up by 9.5 per cent.
"The January results represented good news on multiple fronts. First, strong sales growth suggests home buyers continue to see housing as a quality long-term investment, despite the recent period of economic uncertainty. Second, the fact that new listings grew at a faster pace than sales suggests that it has become easier for some people to find a home that meets their needs," said Mr. Etherington.
The average selling price for January 2015 home sales was up by 4.9 per cent year-over-year to $552,575. The MLS® Home Price Index (HPI) Composite benchmark was up by 7.5 percent compared to January 2014.
"Home price growth is forecast to continue in 2015. Lower borrowing costs will largely mitigate price growth this year, which means affordability will remain in check. The strongest rates of price growth will be experienced for low-rise home types, including singles, semis and town houses. However, robust end-user demand for condo apartments will result in above-inflation price growth in the high-rise segment as well," said Jason Mercer, TREB's Director of Market Analysis.
Markham leads york region with highest average and median price for detached homes at 989k avg and 896k median 
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#8077991 - 02/04/15 07:18 PM
Re: Bank of Canada cuts rate by 1/4%
[Re: c2k]
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zaius
Post Master Sr
Registered: 04/30/05
Posts: 8589
Loc: Toronto
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where you guys are getting the reports from?
+1
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#8078074 - 02/04/15 08:16 PM
Re: Bank of Canada cuts rate by 1/4%
[Re: zaius]
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c2k
Post Master Supreme
Registered: 05/21/00
Posts: 19291
Loc: Wiesloch-Walldorf, Germany
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where you guys are getting the reports from? +1
a few posts up...
http://tosolds.ca/
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#8086074 - 02/10/15 10:14 AM
Re: Bank of Canada cuts rate by 1/4%
[Re: c2k]
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Euphoricuck
Post Master Supreme
Registered: 11/05/03
Posts: 92703
Loc: Canadistan
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#8086118 - 02/10/15 10:34 AM
Re: Bank of Canada cuts rate by 1/4%
[Re: Euphoricuck]
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TheRealCSnapper
Post Master Supreme
Registered: 12/05/02
Posts: 31955
Loc: Toronto, Canada
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probably to take the information out of the hands of people NOT wanting to work with a Realtor (R)
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#8086133 - 02/10/15 10:39 AM
Re: Bank of Canada cuts rate by 1/4%
[Re: TheRealCSnapper]
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spd-dmn
Post Master
Registered: 11/24/04
Posts: 2271
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^^ ding ding
it's an archaic vision, trying to close information to the public and protect the "industry"
in many areas the full mls is fully open to the public
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