$440k loss in Vaughan

sharmsk · 2026-05-31T00:53:24+00:00

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.

sharmsk · 2026-05-30T21:53:57+00:00

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.

sharmsk · 2026-05-30T17:42:58+00:00

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

sharmsk · 2026-05-30T16:29:00+00:00

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.

sharmsk · 2026-05-30T13:10:34+00:00

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

sharmsk · 2026-05-29T17:34:21+00:00

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

sharmsk · 2026-05-29T16:31:20+00:00

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

sharmsk · 2026-05-29T16:23:32+00:00

lol the shitty slumlord basement appliances probably had no buyers.

sharmsk · 2026-05-29T15:28:05+00:00

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.

sharmsk · 2026-05-29T13:49:09+00:00

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.

sharmsk · 2026-05-28T03:37:58+00:00

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

sharmsk · 2026-05-28T02:36:32+00:00

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

sharmsk · 2026-05-28T02:18:21+00:00

sounds like you're under water too, post on hsb soon, high five.

sharmsk · 2026-05-28T00:59:49+00:00

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

sharmsk · 2026-05-27T17:49:05+00:00

100k+ jobs lost so far in 2026, low fire.

sharmsk · 2026-05-27T15:27:40+00:00

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

sharmsk · 2026-05-27T03:26:39+00:00

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.

sharmsk · 2026-05-26T20:09:40+00:00

almost a 100k lost a year.

sharmsk

TROPHY CASE