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  #1  
Old 2012-11-15, 09:40 PM
GABIDAYS GABIDAYS is offline
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Default The Preserve / Mattamy Homes

Hello Everyone, Does anyone know about the Mattamy Project called The Preserve in Oakville North. I believe they will start selling lots this November 17.

The pricing for these is starting out crazy and just keep getting higher and more insane with every passing phase. Most floorplans and elevations not very nice at all!

Ridiculously Overpriced!
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Old 2012-11-16, 08:30 AM
ourpalace ourpalace is offline
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Originally Posted by GABIDAYS View Post
Hello Everyone, Does anyone know about the Mattamy Project called The Preserve in Oakville North. I believe they will start selling lots this November 17.

The pricing for these is starting out crazy and just keep getting higher and more insane with every passing phase. Most floorplans and elevations not very nice at all!

Ridiculously Overpriced!
Are they overpriced if people are lining up to buy them? I agree that prices are crazy, but when people are even crazier that they will pay these prices, it seems to justify the selling price. I wonder what will happen with resale prices when the hospital is complete?! Or when interest rates go up a percentage or two and all the double bmw massive house folks start walking away from their 500,000 mortgages...
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Old 2012-11-16, 04:01 PM
barlinek barlinek is offline
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no need to be bitter.
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Old 2012-11-16, 06:14 PM
LoveTheVolga LoveTheVolga is offline
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There's no doubt these are overpriced. The sad part is, people are lining up for them way before they go on sale. A friend I work with was possibly looking in to coming down to there from Milton and drove by and people got told to go home. For houses similar in square footage or lot size they are 300-350k more than my purchase price just 3 or so years ago. I have a bunch of co-workers in the area that will be ready to buy their first home in the next couple years and it's offensive the amount they will have to save if the prices keep going this way.
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Old 2012-11-16, 06:27 PM
ourpalace ourpalace is offline
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no need to be bitter.
I'm bitter?
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Old 2012-11-17, 11:16 AM
NewPurchaser NewPurchaser is offline
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Originally Posted by LoveTheVolga View Post
There's no doubt these are overpriced. The sad part is, people are lining up for them way before they go on sale. A friend I work with was possibly looking in to coming down to there from Milton and drove by and people got told to go home. For houses similar in square footage or lot size they are 300-350k more than my purchase price just 3 or so years ago. I have a bunch of co-workers in the area that will be ready to buy their first home in the next couple years and it's offensive the amount they will have to save if the prices keep going this way.
It's interesting you refer to prices 3 years ago being several hundred thousand dollars less. You're right. 3 years ago in 2009, the economy was in a slump. Unemployment rates were higher, and the stock markets tanked. Things have stabilized to improved since (though many may disagree). The employment stability/improvement accounts for the house price jump. Plus increase in cost of raw materials (lumber, metal), transportation costs, and land holding costs.
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Old 2012-11-17, 03:29 PM
yanky.brar yanky.brar is offline
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^^^yes.. but it still does not justify $200,000 to $300,000 increase in just 3 years.
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Old 2012-11-17, 05:24 PM
Yenster Yenster is offline
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The location plays a key role too. The same size house in Oakville will always be significantly more expensive than a home in Burlington or Milton. So it's not accurate to say that a property is over priced based on sq footage. And if people didn't line up to buy, they prices would have to go down. The buyers market has an impact on value as well.
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Old 2012-11-17, 09:17 PM
VolgaOnline VolgaOnline is offline
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The location plays a key role too. The same size house in Oakville will always be significantly more expensive than a home in Burlington or Milton. So it's not accurate to say that a property is over priced based on sq footage. And if people didn't line up to buy, they prices would have to go down. The buyers market has an impact on value as well.
This is true. there are quite a considerable amount of people that will pay a premium for an oakville address.

as for prices, yes they are high and seem unrealistic to us. But if they sell, then maybe we are just underestimating value. where demand meets supply is always the correct identifier for prices.

and on a side note. I've recently looked at a spot in Markham.. if I was to buy my same house there... I am looking at over a million. Burlington seems pretty damn good right now
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Old 2012-11-20, 10:41 AM
barlinek barlinek is offline
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I'm bitter?
or you have issues. Do you for a fact know what people have on their mortgage or how much they make? Or you just fantasize?
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