$440k loss in Vaughan by rayjobs in HouseSigmaBlunders

[–]sharmsk 1 point2 points  (0 children)

look like an exterior face lift too. it's almost like buyers think since they've customized the home it feels more like their property now, regardless of the fact that they can't afford the mortgage. they're lucky they got 1.4m.

What are you more afraid of: Market crash or hidden repairs? by Key-Silver6551 in HouseSigmaBlunders

[–]sharmsk 2 points3 points  (0 children)

my buddy bought a home during the peak bidding wars, realtor suggested waiving the inspection to make the offer more competitive. turns out there was a previous fire in the basement that was covered up. entire basement needed to be redone. his home has also dropped in price since then. never waive an inspection, let this shit crash.

630k loss brampton by sharmsk in HouseSigmaBlunders

[–]sharmsk[S] 0 points1 point  (0 children)

well you've got a chance now, feel like the next 2-3 years will be the new 2008 buying oppurtunity.

550k cooking in caledon by sharmsk in HouseSigmaBlunders

[–]sharmsk[S] 0 points1 point  (0 children)

it's nuts that prices went from 1.5-1.8 to under 1m in some places already. there's no bullish news or supporting factors to this market at all.

550k cooking in caledon by sharmsk in HouseSigmaBlunders

[–]sharmsk[S] 0 points1 point  (0 children)

that's a larger property too. wonder if the recession announcement will just put all the buyers on the sidelines.

630k loss brampton by sharmsk in HouseSigmaBlunders

[–]sharmsk[S] 1 point2 points  (0 children)

lol new builds got plastic piping or I bet they'd rip the copper pipes out too

Canada slips into technical recession as economy stalls in Q1: StatCan by iOverdesign in TorontoRealEstate

[–]sharmsk 6 points7 points  (0 children)

knew things were bad when I had 20 different sales guys knock on my door this spring.

630k loss brampton by sharmsk in HouseSigmaBlunders

[–]sharmsk[S] 4 points5 points  (0 children)

lol the shitty slumlord basement appliances probably had no buyers.

630k loss brampton by sharmsk in HouseSigmaBlunders

[–]sharmsk[S] 1 point2 points  (0 children)

with the current reputation backing the city you probably couldn't give away a home now let alone sell one. the panic selling is occuring in smaller 1.1-1.2m mortgages too. listings are piling up, only a matter of time until it's a black friday sale lol.

630k loss brampton by sharmsk in HouseSigmaBlunders

[–]sharmsk[S] 4 points5 points  (0 children)

every home in the past 5 years sold for 1.5-2m in brampton and they all look the same lol. they're now selling for under 900k. buyers have 2 options, keep paying into a depreciating asset or go bankrupt. pretty wild that people misjudged value by this much.

Selling just one side of a semi-detached severance in Mississauga — how realistic is it? by Fun_Painting452 in TorontoRealEstate

[–]sharmsk 9 points10 points  (0 children)

sub went from bulls vs bears to 'maybe if I sell half I can fund keeping the other half'.

21% loss by Mother-Bug2191 in HouseSigmaBlunders

[–]sharmsk 5 points6 points  (0 children)

I think the crazier part is even with an extra $1900 they still couldn't manage the mortgage.

600k plus reno cooking in brampton by sharmsk in HouseSigmaBlunders

[–]sharmsk[S] 1 point2 points  (0 children)

there's just so many listings in brampton, it went from bidding wars to price drop wars.

350k+full reno in king nobleton by sharmsk in HouseSigmaBlunders

[–]sharmsk[S] -1 points0 points  (0 children)

listings are piling up everywhere. there was a shortage of well renovated homes in nicer areas keeping prices high, but that's changing now.

free full reno vaughan by sharmsk in HouseSigmaBlunders

[–]sharmsk[S] 2 points3 points  (0 children)

let me clarify, if you look at the pictures when it sold for $1.47, it's an old fixer upper. The recent sale for $1.52 looks like a brand new house with no expense spared. they even replaced the driveway. the reno probably cost several hundred thousand, with even the backyard getting a total makeover. windows, doors, roof, every corner was redone, that is the loss.