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  #1  
Old 2011-04-04, 10:57 PM
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Selvi Selvi is offline
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Lightbulb Purchasing 2nd Home In Stouffville

We Already Purchased A Detached Home In Stouffville Which Is Still Being Built.
We're Thinking Of Buying A Semi In Stouffville For Around $390k And Selling It Again In Sept 2012, Do You Think The Price Would Jump When I Sell It Again In Sept 2012, If So How Much Would The Semi Be Worth In Sept 2012, It Currently Worth About $390k.

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Old 2011-04-05, 09:39 AM
PJD PJD is offline
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Depends what you believe will happen with the real estate market and that is unpredictable. Many believe it will slow down i.e. the values of homes may only go up by 2-3% per year in the next couple of years. Who's to know what will happen. Many predictions have been wrong before.

But keep in mind that you will have to pay capital gains when you sell it because it's not your primary residence. So if you factor in all that you will have to pay when you sell in addition to capital gains, especially in such a short time period, it will affect your profit margin.

It's up to you whether or not it's worth it.
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Old 2011-04-06, 12:06 AM
TomToronto2 TomToronto2 is offline
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$390 for a semi sounds like a lot. How big is that semi?
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Old 2011-04-06, 12:57 PM
Gmech Gmech is offline
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The last last phase of Starlane just opened up their final release of semis about 10 units (Only 5 houses?!) last weekend at their model home on Reeves Way.
I went by to check on the price list, and the cheapest available unit is a P6 E1 that goes for $350k with $4k upgrades provided.
Considering the high starting value, a resale of anything less than $430k in 2 years or so would make this project not profitable, plus minus all the capital gain and agent commission etc..
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Old 2011-04-06, 08:33 PM
TomToronto2 TomToronto2 is offline
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Do you mean Primrose 6?
Isn't that this model was selling for around $300k two years ago?
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Old 2011-04-06, 09:41 PM
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Yea, Either The Primose 6 Or The Sterling Series Or Primose 11, Not Sure, Starlane Has Only 5 Houses Left
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Old 2011-04-06, 10:57 PM
Gmech Gmech is offline
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Yeah Selvi, there's only a very limited number in this final release. Their lots are either located on Win Timbers or James McCollough Rd. where the big mud pile is. The salesman, Robert, told me the closing of these houses are expected to be around Nov or Dec of 2012.
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Old 2011-04-09, 09:28 PM
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It does depend on the market.
We bought a Sterling 2 in 2008 for 292,900 and sold in June 2010 for 370,000.
But it does depend we sold when the market was up - we were on the market for only 5 days.
You would be best advised to speak to a real estate agent who is educated in the capital gains etc...
For example our real estate agent wrote a thesus on capital gains primary residence etc...
Speak with someone who knows, but always keep in mind the market fluctuation at best at the moment is a prediction, nothing but time will tell otherwise.
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Old 2011-04-09, 09:36 PM
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I Know Ppl Who Buy New Then Sell When The House Gets Completed, Instant Profit!
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Old 2011-04-10, 01:06 AM
TomToronto2 TomToronto2 is offline
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I hope the prices will not go up anymore. It's insane and unsustainable. Seems like our house went up from $300.000 two years ago to more than $350.000 now
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