Thanks folks, I see that the price is shaved to 10% on average....

Quote:

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Originally posted by Vijay

Quote:
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Originally posted by JRF

Where in the world of GTA housing the prices are folding back. I am not able to witness any. How about others ? Is the price drop just in papers or in reality. I am not able to see any stories... it is really a surprise to me.



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Real world example:

I know this neighbourhood because a couple of friends live here and i almost bought a semi on this street:

e.g 1
3822 QUIET CREEK DR, MISSISSAUGA, Ontario

Today's price : 479,000$

Selling Price of a home on the same street (same builder) in 2007 which is 100sq for smaller than this home : 502,000$

e.g 2

3825 QUIET CREEK DR, MISSISSAUGA, Ontario

Selling price: 469,900
same sq ft as above home. Has been listed for more than 6 months, started with 529,000$ now has come down to 469,000.

e.g 3


#37 - 80 ACORN PL
selling price: $289,900

a similar model like this without finished basement was listed for more than 300K last year



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Live and Let Live


Chittesh,

I do not know about the first two examples, but I have a very good idea about example 3 and the facts are as below:

There is no unit in 80 Acorn Place complex without a finished basement. All the units have walk out basements and were all finished by the builder.

The complex was developed in 3 stages and units in each stage are of a different size. Though it is a townhouse complex, no two units ( even next to each other) are similar and they vary in size, number of washrooms, features etc.

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The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM

Agree to Vijay's comments.
All units come with a finished basement.
However
The house i was comparing this one to was also 2bathrooms. From my understadning the townhomes have either 2 or 3 bathrooms depending on the size and if you compare 2 bathroom homes there is not a major size difference maybe 100-150sqft its not like one is 1550sq ft and other is 1900sq ft if its not a corner lot..

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Live and Let Live

http://blogtorontorealestate.ca/2008/10/30/toronto-real-estate-sales-hit-lows-not-seen-since-2000/

Toronto Real Estate Sales In October Hit Lows Not Seen Since 2000

It’s unofficial but it’s pretty accurate… Sales for the month of October will be close to 5,000 houses and condominiums across the GTA. This is the lowest number of sales seen in October since the year 2000!

The Toronto Real Estate Board’s October listing inventory at 28,000+ homes is the highest it’s been this millennium!


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"Einstein once said that the difference between genius and stupidity is that there is a limit to genius."

I remain amazed at how many people in Canada watched the bubble bust in city after city after city in the US, yet remain steadfast "It's different in Vancouver, Calgary or Canada."

Some people in downtown asking for $3000/month luxury condo rent and no kids allowed. Why would I want to rent condo $3,000 a month and pay for utilities, cable TV, internet and freeze my ass off one year lease?

I can live at a Marriott and have free breakfasts and free appetizers all day long at the Executive lounge. I can have my white cotton sheets and pillow cases changed daily and have fresh little shampoo's and body lotions replenished and chocolates placed on my pillow daily. I can work out at the gym or swim in the outdoor pool or suntan in a lounge chair or soak in the hot tub. I can watch 90 different channels or trade stock over the internet from my laptop at my desk.... why do pay $3000/month + utilities+ lease signed.

It takes time for folks to accept the reality, they will realize it soon.

Quote:

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Originally posted by rahul_singh23

Some people in downtown asking for $3000/month luxury condo rent and no kids allowed. Why would I want to rent condo $3,000 a month and pay for utilities, cable TV, internet and freeze my ass off one year lease?

I can live at a Marriott and have free breakfasts and free appetizers all day long at the Executive lounge. I can have my white cotton sheets and pillow cases changed daily and have fresh little shampoo's and body lotions replenished and chocolates placed on my pillow daily. I can work out at the gym or swim in the outdoor pool or suntan in a lounge chair or soak in the hot tub. I can watch 90 different channels or trade stock over the internet from my laptop at my desk.... why do pay $3000/month + utilities+ lease signed.

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-----------------------------------------------------------------
The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM

Quote:

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Originally posted by rahul_singh23

Some people in downtown asking for $3000/month luxury condo rent and no kids allowed. Why would I want to rent condo $3,000 a month and pay for utilities, cable TV, internet and freeze my ass off one year lease?

I can live at a Marriott and have free breakfasts and free appetizers all day long at the Executive lounge. I can have my white cotton sheets and pillow cases changed daily and have fresh little shampoo's and body lotions replenished and chocolates placed on my pillow daily. I can work out at the gym or swim in the outdoor pool or suntan in a lounge chair or soak in the hot tub. I can watch 90 different channels or trade stock over the internet from my laptop at my desk.... why do pay $3000/month + utilities+ lease signed.

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Chandresh

Advice is free – lessons I charge for!!

We have rented a corporate apartment for a month at downtown for $3390 (it was $113 a day), I liked it but later realised that we could have rented a home in that amount (who has time for Gyms and Swimming).

What is the average rent for a 3-4 bedroom home (2200 to 3000 sq ft?) in Toronto (say markham, oakville etc.)?

Jona