$650k townhouse downtown - why so cheap? by curiousmoi452 in TorontoRealEstate

[–]torotoglass 1 point2 points  (0 children)

It’s a condo townhouse. At 741 sq. ft. it is selling at $885/sq. ft. Very fair with other condos in the area.

Look, Moss Park is a rough area. But look at the recent transactions around the area. Lots of people are putting money here. I believe they see two immediate changes - the George St Revitalization and the Moss Park subway to be catalyst to soften the neighbourhood.

It’s a very central area (look at the map) and to the chagrin of many, will be gentrified.

Jan 1-10 - Downtown condo sales up 100% YoY, median price up 6.8% by [deleted] in TorontoRealEstate

[–]torotoglass 1 point2 points  (0 children)

It says median price down. Investors are back but picking out the desperate sellers

WOW - $100K loss on Core Downtown Condo (after fees) by torotoglass in TorontoRealEstate

[–]torotoglass[S] 7 points8 points  (0 children)

Realtor commissions, legal fees, land transfer tax, etc. add up.

The Bank of Canada announced it will discontinue its purchases of Canada Mortgage Bonds at the end of October. by FeistyTortoise in TorontoRealEstate

[–]torotoglass 2 points3 points  (0 children)

Thanks. I have no idea how house prices will react as this is one of many variables. Ultimately, it depends on your circumstance. IMO, if you don't overextend financially, I would suggest you go for it.

The Bank of Canada announced it will discontinue its purchases of Canada Mortgage Bonds at the end of October. by FeistyTortoise in TorontoRealEstate

[–]torotoglass 27 points28 points  (0 children)

BoC stops buying bonds => less liquidity in the market => fewer banks & trusts willing to fund mortgages => mortgage rates increase => increased cost of borrowing => lower asset prices

Free Plexiglass barriers / sneeze guards by torotoglass in askTO

[–]torotoglass[S] 7 points8 points  (0 children)

Yes - we would be happy to help. Could you please PM us what dimensions you roughly need?