Does the financial crisis impact the pricing of our neighbourhood?

[rdx]

Haven't checked the prices lately. Does anyone notice if the builders lowered the prices ? e.g. UTE, VOT,etc

I notice there are two houses in UTE on Queen Filomena are selling for over $800K (one is selling for $880K !!!)

[klieu]

Originally Posted by rdx

Haven't checked the prices lately. Does anyone notice if the builders lowered the prices ? e.g. UTE, VOT,etc

I notice there are two houses in UTE on Queen Filomena are selling for over $800K (one is selling for $880K !!!)

so far, not yet, I only see OAKDALE in Toronto lower the price

[dlhunter]

Builders are the last to lower the prices since they stand nothing to lose except potential revenue. Watch out existing houses, nothing is selling. Buyers have paused and waiting for storm to settle.

[SMC23]

Originally Posted by rdx

...
I notice there are two houses in UTE on Queen Filomena are selling for over $800K (one is selling for $880K !!!)

Those houses you speak of are 50ft, heavily upgraded houses!

[sandviper]

COUTRYWIDE HOMES in NEWMARKET is giving a free car with a house purchase.

i was told that it has more to do with the smell in the summer than the economy.

there is a thread at redflags where someone said that they released this phase late due to waiting for the summer to end hence the smell to go away.

just an fyi....

[NUN]

Primont homes is giving $10,000 cash back on their homes in VOT and Minto is giving $20,000 cash back if you close by the end of 2008. I don't know if this is a sign of the beginning of a recession, but it has made me worried.

[Reesa]

Originally Posted by NUN

Primont homes is giving $10,000 cash back on their homes in VOT and Minto is giving $20,000 cash back if you close by the end of 2008. I don't know if this is a sign of the beginning of a recession, but it has made me worried.

I'm sorry but those homes are so overpriced to begin with!

[aulikh]

Originally Posted by dlhunter

Builders are the last to lower the prices since they stand nothing to lose except potential revenue. Watch out existing houses, nothing is selling. Buyers have paused and waiting for storm to settle.

I say builder sector will be the major sector that will be hit by recession and they have more chances of going bankrupt for recession occurs...as they have so much gone into their new inventory , houses that are being built and that will be built and over heads....

I mean overall economy will be effected...if you see USA going to recession than do not forget that most of our manufacturing products are bought by US and if its economy will go down the drain than it will def. affect us. Or it has already started effecting us at lower scale already....its just that after all this Toronto real estate is going bit strong than anything other realestate in country.

TC

Ash

[rdx]

Originally Posted by SMC23

Those houses you speak of are 50ft, heavily upgraded houses!

But how many buyers are willing to pay $150 to 200K upgrades ? and those upgrades are also not their personal choices.

[NUN]

I think the question is are those houses really 100k-200k overpriced? 50 foot lots generally cost more ( higher premium for the land) and most of the houses on the 50's are over 3000 square feet. My question is have the builders over inflated the prices for these homes or are they premium lots/houses?