dcsimg

One for the books.

Viewing 19 posts - 1 through 19 (of 19 total)
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  • #627931
    smallerstick
    Pro
    North Bay, ON

    This is what is happening on the house market in Toronto right now. It’s a really nice house in a very desirable neighbourhood but, really, a million OVER asking price?

    @r-ice is trying to find a home for him and his family in this market.

    http://www.blogto.com/city/2017/05/sold-uptown-toronto-house-sells-way-over-asking/

    BE the change you want to see.
    Even if you can’t Be The Pro… Be The Poster you’d want to read.

    #627944
    kurt@welkerhomes.com
    Pro
    Owatonna, MN - Minnesota

    That is a heck of a premium, It must be a great neighborhood and looks like a lot of house. There must have been a bidding war and a couple who were to invested in the house to let it go. Kind of a auction mentality where people tend to pay to much for things.

    #627951
    MrFid
    Pro
    Sudbury, MA

    Wow. It’s a beautiful house. I think emotion kicks in sometimes in real estate and that’s when you get these situations.

    I was pumped when our last house sold for $15k over asking. Of course it was nowhere near the price range this one was in.

    #627967
    jponto07
    Moderator
    Bloomington, IN

    Insane. How does someone get a mortgage in a situation like that?

    House is Worth “X” according to the appraiser, but sells for “X plus a million”…unless you are bringing a hefty down payment, nobody could finance this.

    Jon P.
    Timber Carpentry & Construction
    https://www.facebook.com/timbercarpentry/
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    #627969
    madman_us
    Pro
    Palm Springs, CA

    holy smokes. it sold for 4.7mil ?! definitely a beautiful house, no doubt but how long do they want to pay for it unless they are filthy rich and just write them a check.

    "If you're going to do something, do it right the first time"
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    #627971
    kurt@welkerhomes.com
    Pro
    Owatonna, MN - Minnesota

    Insane. How does someone get a mortgage in a situation like that?

    House is Worth “X” according to the appraiser, but sells for “X plus a million”…unless you are bringing a hefty down payment, nobody could finance this.

    Cash and lots of it. This article is a bit old but in the middle of the downturn 62% of all buyers of houses over 5 mil were paying cash.

    https://www.aol.com/article/2011/03/01/all-cash-deals-why-rich-homebuyers-dont-borrow/19863598/

    #627975
    Doobie
    Moderator

    It won’t last. This reminds me of the late 80’s market in the Toronto area. It crashed and took 15 years to bounce back.

    #627979

    I could live quite comfortably in our small town with $4.7 million in the bank….probably for the rest of my life.

    My You Tube channel: https://www.youtube.com/channel/UCA5AretE3xPoVDV61AxUdUA

    I don't do a fast job. I don't do a slow job. I do a half fast job.

    #627992
    smallerstick
    Pro
    North Bay, ON

    I could live quite comfortably in our small town with $4.7 million in the bank….probably for the rest of my life.

    With $4.7M in the bank, you could buy the small town and probably most of the town I live in, too.

    The Toronto market is just crazy. An “average” house is now close to $1M, up about 30% in a year.

    BE the change you want to see.
    Even if you can’t Be The Pro… Be The Poster you’d want to read.

    #628005
    hojo04
    Pro
    Burton, Michigan

    WOW is all I can say. What a dream home.

    #628016
    roninohio
    Pro
    New Franklin, OH

    Really a nice house. Maybe more money than brains?

    #628023
    theamcguy
    Pro
    Fayetteville, NC

    That sure is a heated up real estate market. Like all booms this one is destined to burst when the people with that much disposable income dry up. Eventually the market will catch up to reality.

    Automotive Pro
    Fayetteville, NC
    (and also the World's Fastest Poster)

    #628033

    I’m glad we were able to buy when we did. The prices are climbing really fast here too

    #628050
    58Chev
    Pro
    Etobicoke, ON

    Beautiful house and in a beautiful area. A majority of the home in the area started out as bungalows, get bought out. Then up goes a monster home, The property sizes are very generous there.

    I know the area well, one of my daughters bowls just a few blocks away from there.

    Very affluent neighbourhood mainly consisting of Doctors, Lawyers and the like.

    “If you don’t pass on the knowledge you have to others, it Dies with you”
    — Glenn Botting

    #628055

    Beautiful house and in a beautiful area. A majority of the home in the area started out as bungalows, get bought out. Then up goes a monster home, The property sizes are very generous there.

    I know the area well, one of my daughters bowls just a few blocks away from there.

    Very affluent neighbourhood mainly consisting of Doctors, Lawyers and the like.

    You can always tell an affluent Toronto neighbourhood by looking at 1500sqft houses on 6000sqft lots with a Baby Beamer (BMW 3-series, banker or new lawyer edition) out front. Starter houses are getting harder to find

    #628069
    smallerstick
    Pro
    North Bay, ON

    Beautiful house and in a beautiful area. A majority of the home in the area started out as bungalows, get bought out. Then up goes a monster home, The property sizes are very generous there.

    I know the area well, one of my daughters bowls just a few blocks away from there.

    Very affluent neighbourhood mainly consisting of Doctors, Lawyers and the like.

    I lived in that area back in the 80’s and, yes, it’s upscale for sure, always has been, but it’s such a convenient area to live in. Close to downtown but very quiet. Full of parks and greenspace.
    At one time, there was a really nice mixture of bungalows, semis as well as the traditional North Toronto 2 storey, centre hall homes. The subject home is very typical of that style.

    BE the change you want to see.
    Even if you can’t Be The Pro… Be The Poster you’d want to read.

    #628710
    r-ice
    Pro
    Durham region, ON

    This is what is happening on the house market in Toronto right now. It’s a really nice house in a very desirable neighbourhood but, really, a million OVER asking price?

    @r-ice is trying to find a home for him and his family in this market.

    http://www.blogto.com/city/2017/05/sold-uptown-toronto-house-sells-way-over-asking/

    Yup that’s why I didn’t end up buying in toronto. Couldn’t afford 5 million lol.

    #628718

    This is what is happening on the house market in Toronto right now. It’s a really nice house in a very desirable neighbourhood but, really, a million OVER asking price?

    @r-ice is trying to find a home for him and his family in this market.

    http://www.blogto.com/city/2017/05/sold-uptown-toronto-house-sells-way-over-asking/

    Yup that’s why I didn’t end up buying in toronto. Couldn’t afford 5 million lol.

    “but its an investment!”

    Where did you end up buying?

    #628730
    smallerstick
    Pro
    North Bay, ON

    This is what is happening on the house market in Toronto right now. It’s a really nice house in a very desirable neighbourhood but, really, a million OVER asking price?

    @r-ice is trying to find a home for him and his family in this market.

    http://www.blogto.com/city/2017/05/sold-uptown-toronto-house-sells-way-over-asking/

    Yup that’s why I didn’t end up buying in toronto. Couldn’t afford 5 million lol.

    So where then? C’mon, pictures? Give us a hint.

    BE the change you want to see.
    Even if you can’t Be The Pro… Be The Poster you’d want to read.

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