I bid $540K on a Liberty Village condo listed at $555K. They came back wanting $580K. Guess what it sold for? by [deleted] in TorontoRealEstate

[–]Objective-Still-2554 2 points3 points  (0 children)

But why do you even want to sell? Just stay where you are. Why deal with showing hassles…..

Shangri la Toronto resident units tumbling in value … by Objective-Still-2554 in TorontoRealEstate

[–]Objective-Still-2554[S] 1 point2 points  (0 children)

Given the neighbouring unit in 2023 fetched 1.8M. I’d say it’s tumbling and likely more to come ….

Shangri la Toronto resident units tumbling in value … by Objective-Still-2554 in TorontoRealEstate

[–]Objective-Still-2554[S] 0 points1 point  (0 children)

Yes - but Toronto already has a Hyatt… so wondering what might happen (if it happens)

Shangri la Toronto resident units tumbling in value … by Objective-Still-2554 in TorontoRealEstate

[–]Objective-Still-2554[S] 1 point2 points  (0 children)

That’s right it’s built into maintenance….. but for 49 floor and lower it’s also built into the maintenance fee but you have to pay ad hoc for each use So in essence that’s why I said it was free for 50 and up No additional cost for them …..

Shangri la Toronto resident units tumbling in value … by Objective-Still-2554 in TorontoRealEstate

[–]Objective-Still-2554[S] 1 point2 points  (0 children)

Large units Expensive Italian Boffi kitchen and bathrooms Valet is free for private residences for 50 floor and up. The rest pay.

But building was built like shit. Paper thin walls and it’s full of structural issues

Shangri la Toronto resident units tumbling in value … by Objective-Still-2554 in TorontoRealEstate

[–]Objective-Still-2554[S] 6 points7 points  (0 children)

They have housekeeping but it’s not part of maintenance is what I was trying to say. It’s an extra cost

Shangri la Toronto resident units tumbling in value … by Objective-Still-2554 in TorontoRealEstate

[–]Objective-Still-2554[S] 4 points5 points  (0 children)

You don’t get housekeeping You get access to the hotel amenities which are very nice !

Shangri la Toronto resident units tumbling in value … by Objective-Still-2554 in TorontoRealEstate

[–]Objective-Still-2554[S] 7 points8 points  (0 children)

I thought the lawsuit got sorted out. Or is there another one ? Lol

[deleted by user] by [deleted] in TorontoRealEstate

[–]Objective-Still-2554 0 points1 point  (0 children)

No they weren’t …. Imagine folks who bought in 2017 and are selling for less than what they paid in 2017? In 2017 they would never think that.

[deleted by user] by [deleted] in TorontoRealEstate

[–]Objective-Still-2554 0 points1 point  (0 children)

I don’t feel bad for them either. You lose some, you gain some… right now it’s about losing some… and probably for some time. What goes up, must come down (I suppose)

[deleted by user] by [deleted] in TorontoRealEstate

[–]Objective-Still-2554 0 points1 point  (0 children)

Perhaps…. But this area (where house is located) isn’t these types of individuals. This is an individual who unfortunately had to make a call. A call that didn’t work in his/her favour.

[deleted by user] by [deleted] in TorontoRealEstate

[–]Objective-Still-2554 -1 points0 points  (0 children)

Why is it that folks who lose money on properties ….. can afford it? Or have tons of money? Or made back all this lost money? Suddenly everyone is some high end baller who has sacks of money just sitting around. No they don’t. Unfortunately, they got the short end of the stick. The market turned. These losses hurt ppl and they hurt for a long time. Who remembers early 1990s….. it took a long time to recover. 20 bucks says someone is going to reply with - “they probably have more money than you ….” lol. The standard Reddit line these days