| real estate market in toronto |
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LaurenXX
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Location: Toronto
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| real estate market in toronto |
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What do you see happening in the real estate market in Toronto?
It was slow for a while, the prices were down, then it started really picking up around June, July. Now every house, has multiple offers are sells for over asking price. That is houses in the low price range $300k-400k. (this is considered low in this area) They are also building new subdivisions everywhere. A lot of people who don't even qualify for a mortgage are shopping for houses now, I know because a few houses that we liked are back on the market a month later after they were "sold" because financing did not go through.
Real estate agents tell us to buy now while the rates are low and the price will only go up in the future, but I don't trust them all that much, all they care about is making a sale. A friend told me that they are building so many house now, that a few years later there will not be as much demand so the price may go down. She said it is a bad time to buy when everyone else is buying.
What do you think?
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Fri Aug 28, 2009 3:26 am |
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oldguy
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quote:
agents tell us to buy now while the rates are low and the price will only go up in the future, but I don't trust them all that much, all they care about is making a sale. A friend told me that they are building so many house now, that a few years later there will not be as much demand so the price may go down.
In general, market timing can not be done. Of course, that will never stop people from trying. People follow the 'recency' idea - if the recent trend is 'down' people extrapolate that into the future (they even tell you how much longer it will go down). Then, when the Market turns up and goes up for a few months, the 'recency' people switch to the upward trend.
Over the years, anytime that I waited for the Market to"come back down" so that I could buy more rental houses, I ended up having to pay more. So I learned to buy when I wanted more houses, not when I tried to 'time' a Market.
Some people say that we should have learned that the RE Market doesn't always go up. I don't believe that - I think that the RE Market always trends ever upward - but sometimes you have to wait a few years. So buy when the price is satisfactory for you, pay no attention to the future price, youi can't know it anyway. And in 35 years when the house is worth a few million, it really doesn't matterif you paid $275k, $300k, or $325k. And whether you happen to hit the all-time Market Low is equally unimportant. I have made money on all of my houses - some were bought low, some were bought high, all of them are now worth far more than I paid.
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Fri Aug 28, 2009 5:11 pm |
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anne.jaa31
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For much of last year, the number of sales per month was much higher than expected long-term trend. It is therefore logical that the number of transactions has decreased in recent months compared with last year's record result.
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Tue Sep 07, 2010 4:39 am |
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Jammy
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| do not trust these agents |
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One lesson that I have learnt that hard way -- do not trust any of these agents. They try their best to sell their product. I would rather think it over and then take a call if I am convinced.
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Fri Sep 17, 2010 5:37 am |
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linsondark
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When a report showing growth in the free market, means that the people's trust and welling to commit to pay in the long term. This means that they have more confidence in the economy and stability in their work. Do not forget that interest rates are very low at the moment and this is another way to encourage buyers purchase homes in September to feel comfortable.
Sales in Toronto in 2009 has started very low, but the year that ended with a very strong sales. Experts believe that, yes, 2009 for Toronto home finished strong with low interest rates and the winter season, supply is below demand. This would affect housing prices in Toronto.
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Tue Nov 02, 2010 5:32 am |
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riccky4787
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Good post, it helped a lot.
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Tue Dec 21, 2010 11:17 am |
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janiemorgan
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It is slowly getting harder to find a place to buy since almost everything is covered by tall buildings, so it's better to buy now before lots run out.
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Tue Dec 28, 2010 11:14 am |
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bannerbuzz09
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in Toronto there are very big market for it. toranto is very vast area so real estate market is so good there.
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Thu Jan 27, 2011 8:03 am |
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JensynMcCoy
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If buyers are so desperate to buy with no conditions, serve them right when something goes wrong with their dream home as they cannot claim they undertook their due diligence.
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Thu Aug 25, 2011 4:38 pm |
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georgensams
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Toronto is very famous and well migrating city in Canada. it is really beneficial to invest in Toronto which provide long term benefits. moreover invest in Toronto is the great source to generate future benefits.
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Sat Aug 27, 2011 9:49 am |
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johnnfletcher
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There is also a significant factor behind the trend of foreign investment may be present in Canadian society of tolerance. You rarely find related information racism, class systems, gender discrimination, religious discrimination, prejudice or other forms of negative behaviour.
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Wed Aug 31, 2011 5:06 pm |
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MikeMiks
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Home prices are sinking in every month due to the heavy load of foreclosure inventories that are in the market right now. If the government can't find solution with this problem a narrow chance of market recovery we all should be expect.
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Sat Sep 03, 2011 9:10 am |
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jamesdoober
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If you do decide to invest in the Toronto real estate market than just ensure to work with a professional real estate lawyers. The high cost of a home in Toronto makes it very difficult for a large percent of the population to become homeowners, making condos a great alternatives.
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Tue Sep 06, 2011 10:23 am |
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markksmith
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Toranto is very good area so real estate market is so good there. The high cost of a home in Toronto makes it very difficult for a large percent of the population to become homeowners, making condos a great alternatives. it is really beneficial to invest in Toronto which provide long term benefits.
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Tue Sep 06, 2011 5:44 pm |
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