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#9945947 - 11/10/20 08:26 AM Re: I started a blog (real estate) [Re: Risky Business]
SharpSpoon Offline
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Registered: 11/29/04
Posts: 7246
Loc: GTA
Office leasing is down 85% in the GTA. Those with lease expiry's coming up want short term renewals, no one is going to commit at current rates knowing they will continue to go down and they are unsure of what future space needs will be required. Lots of sublease space on the market now with more coming everyday. Really nice brick and beam space that was $60-70 gross now being marketed for $35, and few of these subleases are moving.

Landlords are hesitant to write down their space so asking rates haven't moved, but there has been an increase in inducements.

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#9947098 - 11/11/20 09:41 AM Re: I started a blog (real estate) [Re: Risky Business]
JEFFOS Offline
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Registered: 01/27/00
Posts: 29139
Loc: Toronto
The office or at least the idea of working and collaborating in a space will not go away. The team building, people interaction and soft skills will still be needed and doesn’t exist to the same capacity with remote working.
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#9947381 - 11/11/20 02:49 PM Re: I started a blog (real estate) [Re: JEFFOS]
Hatorade Offline
pheggit
Post Master Supreme


Registered: 11/05/99
Posts: 26894
Loc: Toronto, ON
^this. Plus old school management mentality still exists. Gotta watch over them lemmings!!!
_________________________

'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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#9947483 - 11/11/20 04:29 PM Re: I started a blog (real estate) [Re: Hatorade]
f22b-dohc Offline
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Registered: 09/09/05
Posts: 11227
Loc: canadia
 Originally Posted By: Hatorade
^this. Plus old school management mentality still exists. Gotta watch over them lemmings!!!


this is the time to let the useless people go.

i honestly do not think i will be going back to the office - wait; i dont have one
_________________________
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"rolling -----on my 2.0, with the rag top down so my hair can blow..."


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#9947606 - 11/11/20 06:49 PM Re: I started a blog (real estate) [Re: SharpSpoon]
Risky Business Offline
Provides a Great Work Environment. he/him
Post Master Supreme


Registered: 05/17/10
Posts: 44789
 Originally Posted By: SharpSpoon
Office leasing is down 85% in the GTA.


What does this even mean? 85% of companies with offices no longer have offices? This 'stat' is meaningless without context....so let's start there so we aren't pushing headline click bait here.

The story is very different between all the different asset classes. Office and retail are under pressure, but Class A office is still in decent shape, but renewals are sketchy. Retail is getting crushed, Class B and lower office/retail also getting crushed. Industrial space is fucking CRUSHING in the GTA, can't get shit everything is getting scooped up.

Have a client, we've been aggressively looking at moving him into a larger place as his dealership is growing exponentially, can't get a damn thing in Toronto/York. We've even considered places and to apply for rezoning ourselves. There are literal micro wars going on in terms of competition for specific real estate, covid only accelerated it. Want final mile industrial fulfillment space? Another gong show.

It will come back, remote work is temporary...but at least it will force companies to create hybrid work environments where hopefully people aren't chained to cubicles 5 days a week, maybe it's just 2-3.

Like mentioned earlier, you can't build culture remotely. I suppose you can, but it's difficult to scale. If you aren't working next to the decision makers (aka the C level who are all on site) you've just wiped out any opportunity for career progression.

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#9948861 - 11/13/20 08:34 AM Re: I started a blog (real estate) [Re: Risky Business]
f22b-dohc Offline
Post Master Supreme


Registered: 09/09/05
Posts: 11227
Loc: canadia
 Originally Posted By: Risky Business
[quote=SharpSpoon]

It will come back, remote work is temporary...but at least it will force companies to create hybrid work environments where hopefully people aren't chained to cubicles 5 days a week, maybe it's just 2-3.


when is your prediction of said comeback?

it's sad when i drive around and see so many places just boarded up.
and this isnt even near over yet.
_________________________
JB weld is your friend
Chewbacca makes me yawn *Yawn*
"rolling -----on my 2.0, with the rag top down so my hair can blow..."


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#9948963 - 11/13/20 09:34 AM Re: I started a blog (real estate) [Re: f22b-dohc]
Risky Business Offline
Provides a Great Work Environment. he/him
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Registered: 05/17/10
Posts: 44789
I have no idea for downtown, a lot of offices in the 905 are already back on rotating schedules/hybrid work plans.

Downtown core is a big unknown, some started rotating in this September, but the elevators remain the biggest issue and there is no solution. It will probably remain a ghost town for the next 6 months for sure, who knows what happens after.

Funny enough a lot of the C level/Exec teams in downtown are working out of their offices.

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#9949379 - 11/13/20 02:41 PM Re: I started a blog (real estate) [Re: Risky Business]
furball Offline
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Registered: 09/24/03
Posts: 9483
Loc: Toronto, ON
re: elevators, yeah, I have no fucking clue how that even works for CONDOS ... Every time I'm at my parents' condo, fucking headache ... Not only that, half the fucking time the people don't wear MASKS WTF



 Originally Posted By: Risky Business
... the elevators remain the biggest issue and there is no solution....

Funny enough a lot of the C level/Exec teams in downtown are working out of their offices.

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#9949383 - 11/13/20 02:45 PM Re: I started a blog (real estate) [Re: furball]
Senor Eduardo_82 Offline
miataist
Post Master Supreme


Registered: 01/09/03
Posts: 38036
Loc: Ca�ada
Any of you real-estate dudes familiar with Properly (https://www.properly.ca/) ? I hear their ads a lot, and it got me wanting to know more about how it works. I assume they just offer a lowball.
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#9949412 - 11/13/20 03:17 PM Re: I started a blog (real estate) [Re: Senor Eduardo_82]
Risky Business Offline
Provides a Great Work Environment. he/him
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Registered: 05/17/10
Posts: 44789
I've heard of them, initial reaction was they were trying to copy opendoor, was wrong.

Looks like a service that provides bridge financing so you buy first, sell later, but you get charged full pop for the commission. Usually if you sell/buy with the same realtor you will get a break on the commission, not with these guys, but the 'convenience' is they provide the bridge loan...but this is something you can do on your own if you have a pulse/can breathe. Not sure who their target demo is...

What I don't like about it is that it does the typical real estate tactic of putting you in a deal first (buy first) then sell your home later. I am not a fan of this at all (I am sure many will argue with me over it, please don't - let's agree to disagree).

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#9950409 - 11/16/20 08:37 AM Re: I started a blog (real estate) [Re: Risky Business]
f22b-dohc Offline
Post Master Supreme


Registered: 09/09/05
Posts: 11227
Loc: canadia
 Originally Posted By: Risky Business

Funny enough a lot of the C level/Exec teams in downtown are working out of their offices.


that's because they want to get away from their significant other
_________________________
JB weld is your friend
Chewbacca makes me yawn *Yawn*
"rolling -----on my 2.0, with the rag top down so my hair can blow..."


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#9950502 - 11/16/20 10:02 AM Re: I started a blog (real estate) [Re: f22b-dohc]
Big Tasty Online   pandAr
Post Master Supreme


Registered: 02/10/02
Posts: 19600
Loc: Toronto
Saw a house this weekend that got both wife and i tempted to move. On the "better" side of the main street and a stone's throw from the kid's school. Garage would be a downgrade from our 2 car to a single but the rest would be pretty much a wash compared to our place with the exception of a 4th bathroom and a renovated kitchen.

We mused about it for a bit as that area has a better community feel but at the end of the day it's not worth the added costs in mortgage and taxes. Looked it up on HouseSigma, if they got asking price then that would be 140% more than what they paid for less than 10 years ago.

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#9950534 - 11/16/20 10:23 AM Re: I started a blog (real estate) [Re: Big Tasty]
Risky Business Offline
Provides a Great Work Environment. he/him
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Registered: 05/17/10
Posts: 44789
Sounds about right, they bought at the bottom.
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#9952588 - 11/18/20 09:47 PM Re: I started a blog (real estate) [Re: Risky Business]
furball Offline
Post Master Sr


Registered: 09/24/03
Posts: 9483
Loc: Toronto, ON
https://www.blogto.com/real-estate-toron...they-do-living/
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#9952626 - 11/19/20 06:56 AM Re: I started a blog (real estate) [Re: furball]
loudsubz Offline
Post Master Supreme


Registered: 08/16/01
Posts: 11333
Loc: Ontario, Canada
 Originally Posted By: furball
https://www.blogto.com/real-estate-toronto/2020/11/toronto-man-shows-up-at-expensive-homes-ask-owners-what-they-do-living/


no blue collar workers in that video lol

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#9952665 - 11/19/20 08:47 AM Re: I started a blog (real estate) [Re: Big Tasty]
Big Tasty Online   pandAr
Post Master Supreme


Registered: 02/10/02
Posts: 19600
Loc: Toronto
 Originally Posted By: Big Tasty
Looked it up on HouseSigma, if they got asking price then that would be 140% more than what they paid for less than 10 years ago.


Sold over asking making it 148% more than what they paid for it 9 years ago.

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#9952711 - 11/19/20 10:04 AM Re: I started a blog (real estate) [Re: Big Tasty]
Risky Business Offline
Provides a Great Work Environment. he/him
Post Master Supreme


Registered: 05/17/10
Posts: 44789
Are we simply confirming that their home appreciated in line with GTA real estate? Trying to understand if there is more to the story that I am missing.
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#9974560 - 12/29/20 08:22 AM Re: I started a blog (real estate) [Re: Risky Business]
Big Tasty Online   pandAr
Post Master Supreme


Registered: 02/10/02
Posts: 19600
Loc: Toronto
LOL wonder if the car comes with the house.

https://www.realtor.ca/real-estate/22684498/76-brass-dr-richmond-hill-jefferson

I kid \:D

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#9974569 - 12/29/20 08:40 AM Re: I started a blog (real estate) [Re: Big Tasty]
Risky Business Offline
Provides a Great Work Environment. he/him
Post Master Supreme


Registered: 05/17/10
Posts: 44789
I saw a listing recently where the agent parked a blue maclaren in front of an old shitty condo in Malvern as part of 'staging'. Marketing savants
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#9974768 - 12/29/20 12:10 PM Re: I started a blog (real estate) [Re: Big Tasty]
Senor Eduardo_82 Offline
miataist
Post Master Supreme


Registered: 01/09/03
Posts: 38036
Loc: Ca�ada
 Originally Posted By: Big Tasty


Looks like they got a great deal on grey paint.

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#9974771 - 12/29/20 12:17 PM Re: I started a blog (real estate) [Re: Senor Eduardo_82]
Senor Eduardo_82 Offline
miataist
Post Master Supreme


Registered: 01/09/03
Posts: 38036
Loc: Ca�ada
Speaking of cars....

https://www.realtor.ca/real-estate/22352543/14-elliott-st-brampton-downtown-brampton

(Watch the video)

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#9974786 - 12/29/20 12:36 PM Re: I started a blog (real estate) [Re: Senor Eduardo_82]
Risky Business Offline
Provides a Great Work Environment. he/him
Post Master Supreme


Registered: 05/17/10
Posts: 44789
I like that house, lifestyle videos are picking up, i guess they must work They look FANTASTIC on your IG feed when you buy the place.
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#9975016 - 12/29/20 08:30 PM Re: I started a blog (real estate) [Re: Senor Eduardo_82]
A2B-Lexus Offline
Post Master Supreme


Registered: 04/19/01
Posts: 45550
Loc: Raptors Land
 Originally Posted By: Senor Eduardo_82


number 14. No thanks. \:D

$1.6M, I'd want at least a 2 car garage house.

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#9975053 - 12/29/20 10:54 PM Re: I started a blog (real estate) [Re: A2B-Lexus]
Hatorade Offline
pheggit
Post Master Supreme


Registered: 11/05/99
Posts: 26894
Loc: Toronto, ON
 Originally Posted By: A2B-Lexus
 Originally Posted By: Senor Eduardo_82


number 14. No thanks. \:D

$1.6M, I'd want at least a 2 car garage house.


$1.6M in downtown Brampton? Wtf
_________________________

'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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#9975867 - 12/31/20 07:02 AM Re: I started a blog (real estate) [Re: Hatorade]
c2k Moderator Offline
Post Master Supreme


Registered: 05/21/00
Posts: 19289
Loc: Wiesloch-Walldorf, Germany
 Originally Posted By: Hatorade
 Originally Posted By: A2B-Lexus
 Originally Posted By: Senor Eduardo_82


number 14. No thanks. \:D

$1.6M, I'd want at least a 2 car garage house.


$1.6M in downtown Brampton? Wtf


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Who cares

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