#9603522 - 07/08/19 12:06 PM
And this is why first time home buyers are screwed.
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Big Tasty
Post Master Supreme
Registered: 02/10/02
Posts: 19874
Loc: Toronto
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Yes, I know...no shit Sherlock, houses increase. But just water cooler talk, I find it interesting to see the historical progression in specific houses in some areas. Great for the sellers but 1st time buyers are SOL.
View from Bungol.ca
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#9604615 - 07/09/19 07:21 PM
Re: And this is why first time home buyers are screwed.
[Re: Senor Eduardo_82]
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Lafora
Post Master Sr
Registered: 12/16/01
Posts: 4623
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#9604649 - 07/09/19 08:31 PM
Re: And this is why first time home buyers are screwed.
[Re: Lafora]
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A2B-Lexus
Post Master Supreme
Registered: 04/19/01
Posts: 45570
Loc: Raptors Land
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Anything over $1M has dropped quite a bit.
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#9604693 - 07/09/19 10:06 PM
Re: And this is why first time home buyers are screwed.
[Re: A2B-Lexus]
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Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26904
Loc: Toronto, ON
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Anything over $1M has dropped quite a bit.
Yup.
_________________________
'07 997.1 GT3 '08 E90 M3 '11 E90 d '02 Rota Grid - 195-55-16FR (RIP) '04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi) I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr
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#9604725 - 07/09/19 11:56 PM
Re: And this is why first time home buyers are screwed.
[Re: Hatorade]
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The Postman
A-List Member also The Man
Post Master Sr
Registered: 02/13/02
Posts: 5056
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This reminds me, I have a few real estate sales/equity/will questions for you guys lol.
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#9607081 - 07/13/19 03:43 PM
Re: And this is why first time home buyers are screwed.
[Re: The Postman]
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A2B-Lexus
Post Master Supreme
Registered: 04/19/01
Posts: 45570
Loc: Raptors Land
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The worst now is that people who put their house up thinking it is worth what it was 2 years ago. I put in a couple of market value offers for the area and they rather be wheeled out of their in a body bag than to sell for what market value is now.
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#9607139 - 07/13/19 06:53 PM
Re: And this is why first time home buyers are screwed.
[Re: A2B-Lexus]
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LNXGUY
Post Master Supreme
Registered: 08/06/00
Posts: 107676
Loc: Barrie, Ont,
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The worst now is that people who put their house up thinking it is worth what it was 2 years ago. I put in a couple of market value offers for the area and they rather be wheeled out of their in a body bag than to sell for what market value is now.
Do they not bother to look at comps?
_________________________
-Bill The GN would OWN you, your children and your children's children. Left foot, right foot, just keep moving!!! -Jeffrey P. Murphy
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#9607310 - 07/14/19 10:09 AM
Re: And this is why first time home buyers are screwed.
[Re: LNXGUY]
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A2B-Lexus
Post Master Supreme
Registered: 04/19/01
Posts: 45570
Loc: Raptors Land
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The ones I've looked at and put offers down on are houses that tend to be paid off where the owners got it preconstruction and isn't in a hurry. All tend to be set on a price they missed out on when the market was batshit crazy....some have been listed on and off for a year.
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#9607524 - 07/14/19 07:25 PM
Re: And this is why first time home buyers are screwed.
[Re: 87ZCSi]
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A2B-Lexus
Post Master Supreme
Registered: 04/19/01
Posts: 45570
Loc: Raptors Land
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The time for sellers is 2 years ago for houses. Condos still seem to be hot.
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#9607583 - 07/14/19 09:15 PM
Re: And this is why first time home buyers are screwed.
[Re: A2B-Lexus]
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furball
Post Master Sr
Registered: 09/24/03
Posts: 9515
Loc: Toronto, ON
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Homes in my area, that are pretty much cookie-cut replicas of mine, have dropped like a rock since the peak ... Still out of reach (and far as fuck) for a slice of heaven ...
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#9607607 - 07/14/19 10:03 PM
Re: And this is why first time home buyers are screwed.
[Re: furball]
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A2B-Lexus
Post Master Supreme
Registered: 04/19/01
Posts: 45570
Loc: Raptors Land
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My place dropped about $100k from the peak....the area I am looking at dropped $300k. Getting into that area still almost triples my mortgage. Still have sticker shock at what 2 car garage house cost in Markham.
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#9607614 - 07/14/19 10:20 PM
Re: And this is why first time home buyers are screwed.
[Re: Hatorade]
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A2B-Lexus
Post Master Supreme
Registered: 04/19/01
Posts: 45570
Loc: Raptors Land
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Yup......that's our experience so far. Crazy Rich Asians....I rather pay property tax, heat and keep paying to cut the lawn than to cut bait and cash in less.
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#9608352 - 07/16/19 08:18 AM
Re: And this is why first time home buyers are screwed.
[Re: A2B-Lexus]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 45431
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My place dropped about $100k from the peak....the area I am looking at dropped $300k. Getting into that area still almost triples my mortgage. Still have sticker shock at what 2 car garage house cost in Markham.
You going to unionville?
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#9608896 - 07/16/19 08:03 PM
Re: And this is why first time home buyers are screwed.
[Re: Risky Business]
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A2B-Lexus
Post Master Supreme
Registered: 04/19/01
Posts: 45570
Loc: Raptors Land
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My place dropped about $100k from the peak....the area I am looking at dropped $300k. Getting into that area still almost triples my mortgage. Still have sticker shock at what 2 car garage house cost in Markham. You going to unionville?
Closer to grandma care around kennedy and 16.
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#9608919 - 07/16/19 09:00 PM
Re: And this is why first time home buyers are screwed.
[Re: A2B-Lexus]
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Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26904
Loc: Toronto, ON
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My place dropped about $100k from the peak....the area I am looking at dropped $300k. Getting into that area still almost triples my mortgage. Still have sticker shock at what 2 car garage house cost in Markham. You going to unionville? Closer to grandma care around kennedy and 16.
Should be able to get a deal done. Unless the offers are too unrealistic XD
_________________________
'07 997.1 GT3 '08 E90 M3 '11 E90 d '02 Rota Grid - 195-55-16FR (RIP) '04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi) I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr
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#9609125 - 07/17/19 08:53 AM
Re: And this is why first time home buyers are screwed.
[Re: A2B-Lexus]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 45431
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My place dropped about $100k from the peak....the area I am looking at dropped $300k. Getting into that area still almost triples my mortgage. Still have sticker shock at what 2 car garage house cost in Markham. You going to unionville? Closer to grandma care around kennedy and 16.
Look at this 'upper unionville' nikra lol
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#9609335 - 07/17/19 12:37 PM
Re: And this is why first time home buyers are screwed.
[Re: Hatorade]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 45431
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Yep, live one street over from cousins/uncles/etc. Not going anywhere, village life!
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#9609488 - 07/17/19 05:44 PM
Re: And this is why first time home buyers are screwed.
[Re: Risky Business]
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Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26904
Loc: Toronto, ON
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Yep, live one street over from cousins/uncles/etc. Not going anywhere, village life!
You are slowly turning yellow by staying in MarkHAM LOL
_________________________
'07 997.1 GT3 '08 E90 M3 '11 E90 d '02 Rota Grid - 195-55-16FR (RIP) '04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi) I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr
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#9609564 - 07/17/19 07:28 PM
Re: And this is why first time home buyers are screwed.
[Re: Hatorade]
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Senor Eduardo_82
miataist
Post Master Supreme
Registered: 01/09/03
Posts: 38036
Loc: Ca�ada
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#9609588 - 07/17/19 08:10 PM
Re: And this is why first time home buyers are screwed.
[Re: Senor Eduardo_82]
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The Postman
A-List Member also The Man
Post Master Sr
Registered: 02/13/02
Posts: 5056
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So my mom gives my bro $100k for a deposit for his house and co-signs for his mortgage. He works at Shoppers Drug Mart making slightly more then minimum wage and cant really afford the house he bought without her.
Now, when she eventually dies, am I entitled to her equity in his home since she has stake in part of it?
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#9609649 - 07/17/19 10:05 PM
Re: And this is why first time home buyers are screwed.
[Re: Hatorade]
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A2B-Lexus
Post Master Supreme
Registered: 04/19/01
Posts: 45570
Loc: Raptors Land
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My place dropped about $100k from the peak....the area I am looking at dropped $300k. Getting into that area still almost triples my mortgage. Still have sticker shock at what 2 car garage house cost in Markham. You going to unionville? Closer to grandma care around kennedy and 16. Should be able to get a deal done. Unless the offers are too unrealistic XD
List was $1.2....it has been empty for a year. We offer just that to go in for the kill. We get rejected. They delisted the house because they didn't get "their price".
Both me and my wife work DT so grandma can pick up and drop off while we live our go train lives.
Still a few houses in the market we can go into. Probably try for a fixer upper and do a reno top to bottom.
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#9609828 - 07/18/19 09:15 AM
Re: And this is why first time home buyers are screwed.
[Re: The Postman]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 45431
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So my mom gives my bro $100k for a deposit for his house and co-signs for his mortgage. He works at Shoppers Drug Mart making slightly more then minimum wage and cant really afford the house he bought without her.
Now, when she eventually dies, am I entitled to her equity in his home since she has stake in part of it?
Is she on title? Depends, in arrangements like that above the lawyer usually does a 99%/1% split to minimize tax owed if he was to ever buy out his mother, but still gives co signer status. If it was 50/50 or nothing attesting to a split I am pretty sure it's assumed 50/50, so if you go ahead and dead your mother for half the equity in some turd home you MAY be eligible to 25% which is half of her ownership stake, other 25% goes to him.
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#9609871 - 07/18/19 10:04 AM
Re: And this is why first time home buyers are screwed.
[Re: Risky Business]
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Hatorade
pheggit
Post Master Supreme
Registered: 11/05/99
Posts: 26904
Loc: Toronto, ON
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Yep, live one street over from cousins/uncles/etc. Not going anywhere, village life! You are slowly turning yellow by staying in MarkHAM LOL Full yellow, integrated af. Ni hao ma? Markham I am eyeing a 1.24 acre property less than a km from me (they listed it for sale twice for an astronomical price, delisted both times now sitting off the market), but not sure i can swing the cash hit No upper uville here, although unionville proper does look appealing Love me some secluded lots.
Yup lots of properties in the $1M plus aren't selling and a lot are vacant. The Sellers aren't in a rush and just let it sit till someone is willing to pay I guess LOL. Or some know it will take a while like my in-laws neighbour in Cachet. Took them a year to sell, started at $1.8M+ and ended up selling for $1.528M after a year LOLOLOL
_________________________
'07 997.1 GT3 '08 E90 M3 '11 E90 d '02 Rota Grid - 195-55-16FR (RIP) '04 Volk GTC - 245-35-19F/275-35-19R (Sold to a farm boi) I thought Spark was a robot from the old movie and I kind of remember seeing him telling some engineer showing the equation for a clear metal that the guy would event years later - porschetr
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