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  #1  
Old 2008-10-09, 01:56 PM
rdx rdx is offline
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Default Does the recent financial crisis impact the prices of our neighbourhood?

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 !!!)

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Old 2008-10-09, 02:24 PM
klieu klieu is offline
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Quote:
Originally Posted by rdx View Post
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
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Old 2008-10-09, 06:21 PM
dlhunter dlhunter is offline
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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.
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Old 2008-10-09, 08:52 PM
SMC23 SMC23 is offline
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Originally Posted by rdx View Post
...
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!
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Old 2008-10-09, 10:00 PM
sandviper sandviper is offline
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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....
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Anyone else delayed with Countrywide Homes?
I'd love to hear ur experience and thoughts on it...!
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Old 2008-10-09, 10:41 PM
NUN NUN is offline
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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.
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Old 2008-10-09, 10:55 PM
Reesa Reesa is offline
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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!
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Old 2008-10-09, 11:09 PM
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aulikh aulikh is offline
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Quote:
Originally Posted by dlhunter View Post
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
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Old 2008-10-10, 12:40 AM
rdx rdx is offline
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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.
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Old 2008-10-10, 12:47 AM
NUN NUN is offline
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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?
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