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  #11  
Old 2017-04-28, 08:09 PM
Tabz08 Tabz08 is offline
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i dont think we will follow the US but lets not kid ourselves anyone with a heartbeat can get a mortgage and there is a lot of questionable mortgages even with the big banks. I know several mortgage agents that got let go for bad deals in the past.

That being said the Home Trust will shake the market a little and there will be more examples of bad mortgages that will come out in the media. Which will make the mortgage industry tighter which benefits everyone.

I invest in private lending mortgages that charge huge interest but only lend upto 65% loan to value for obvious reasons. Those guys have had a spike in deals fall on their desks in the past week. I've also spoke to a couple of realtors and their phones are quiet. One realtor said he has 11 listing at their office and had zero interest and showings in the past week. Another one at one of the best areas in the city listed all his properties this week 100K lower than he would have if all this news in the past 2-3 weeks had not come out.
Now two is not a good sample size but they are front line and people are nervous and hesitant right now.

And last but not least there was a project i was looking at on the waterfront in bomanville that was sold out but i got a call from the sales office saying a couple units came back as they were US investors and didn't want to pay the 15% tax.
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  #12  
Old 2017-04-29, 11:46 AM
Stonemanor Stonemanor is offline
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Went to check out the sales preview and it was crickets. They had sold about 5 houses of the 22 for sale by noon. There were so many staff they were breathing down your neck. They definitely will not be selling out today. Looks like a sign of the market...it is on pause. Just hope it gets some life back this year.
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  #13  
Old 2017-04-29, 12:12 PM
Hk1990 Hk1990 is offline
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If they don't sell out by the end of the weekend it may not be due to the market conditions as not a lot has changed. It would be due the the builder's greed. The prices are rediculous for that area. It said starting 900k last year falls, 6months later they changed it 1.3mil.
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  #14  
Old 2017-04-29, 05:21 PM
Stonemanor Stonemanor is offline
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Quote:
Originally Posted by Hk1990 View Post
If they don't sell out by the end of the weekend it may not be due to the market conditions as not a lot has changed. It would be due the the builder's greed. The prices are rediculous for that area. It said starting 900k last year falls, 6months later they changed it 1.3mil.
i do agree and actually that's what i told the sales rep.
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  #15  
Old 2017-04-29, 06:28 PM
Tabz08 Tabz08 is offline
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i went to bomanvile for treasure hill and they too didn't sell more than half.
greed plus nerves = slowing of the market
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  #16  
Old 2017-04-29, 07:50 PM
erimak erimak is offline
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@Tabz08,do you by any chance have treasure hill bowmanville price you can post?
Curious to see the preview pricing .thanks
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  #17  
Old 2017-04-29, 08:10 PM
ultraman ultraman is offline
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Quote:
Originally Posted by Tabz08 View Post
i went to bomanvile for treasure hill and they too didn't sell more than half.
greed plus nerves = slowing of the market
When did you get there? I think they sold most of the lots today.
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  #18  
Old 2017-04-30, 05:40 PM
Tabz08 Tabz08 is offline
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yesterday i heard was a zoo
and i went today at not many lots left so a different story
last week was a friends and family pre sale so may thats why it was slower
prices and lots attaches
prices were up 10K-20K from last week
starting at 709K
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  #19  
Old 2017-05-01, 02:53 PM
House Guy House Guy is offline
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Is anyone has the price of the Zancor Cookstown to share?
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  #20  
Old 2017-05-02, 02:19 PM
Hk1990 Hk1990 is offline
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Cookstown release was all sold out. Apparently they have a second release coming very shortly. Still seems to be a crazy market for new construction homes
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