Looking for a heads up (for my friends in realestate)
The way I see it the american realestate market was first to go down and some realitors may have found ways of continuing through the bad times I believe in being proactive not waiting for it to crash in the event of a canadian downturn want to be prepard
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February 17th, 2010 at 4:12 am
I don’t know if …
I don’t know if this helps or not, but I build homes for this one guy, and so far we have built 6-7 in the last 2 years, and everyone of them has sold.
Maybe a lot of it has to do with location though.
February 17th, 2010 at 4:12 am
Canadian economist …
Canadian economist Garth Turner is forecasting a 15-20% decline in Canadian housing prices beginning in the 3rd quarter of 2010. 40% for BC, 25-30% in Toronto area and a minimum of 15% for all other areas. If you are or have bought real estate in Canada in the last 6 months or next 6 months you have bought at the top/peak of the market, which is never a good thing. Once rates start rise the air will start to leak from the bubble. We will be back to 2004-2005 price levels by 2012.
February 17th, 2010 at 4:12 am
I sold my house in …
I sold my house in the end of 2009 and we are not buying any thing now .
February 17th, 2010 at 4:12 am
Not sure about …
Not sure about Canada but in California the only people I know buying homes are investors and those lucky enough to be first time home buyers that still have a job that put them in that position. Problem is that they cannot get the tax credit if the house is a foreclosure or a short sell. So the people buying are people that already have a home, fix it up, hold on to it, and then sell it in about 6 months to a year to someone looking to get the tax credit.
February 17th, 2010 at 4:12 am
i have a lot of …
i have a lot of friends trying to buy homes , first time buyers, and they are getting outbid by investors who have cash, so basically cash is king and the people with money are buying up all the homes
February 17th, 2010 at 4:12 am
I made $250.00 for …
I made $250.00 for a year. Put my licences inactive DEC 31 09. My Licences fee, MLS fee and key fee and board fee is $900.00. The numbers just don’t add up.
February 17th, 2010 at 4:12 am
Thanks for the tip …
Thanks for the tip wow 90%drop you would barly cover your costs even your registration fees etc so then are you finding that some have no choice but to get out? again thankyou for you comment cheers
February 17th, 2010 at 4:12 am
PRICES IN CANADA …
PRICES IN CANADA WILL GO DOWN NEXT YEAR
February 17th, 2010 at 4:12 am
Stay away from sort …
Stay away from sort sales, they are a lot of headaches with very little results!!!!
Our office processed six and none went through after the bank’s screwing around for six months. We refuse to deal with them now.
The Bank does not own the home and the owner usually strips the home as they move out then they will not appraise, because their is no water heaters, stoves, dishwashers, ect. So don’t waste you time!!!!!!
February 17th, 2010 at 4:12 am
I am a agent in …
I am a agent in north west fl. Despite what is told on the news “we are in a full blown depression here as far a housing goes”.
Most offices are down 80 – 90% in sales.
The only sales here are short sales and foreclosures. They require a lot of time a effort and most never close. If you get a contract for lets say for $125,000.00 the appraisers come back with a appraisal of $95,000.00 leaving the buyer a deficit of $30,000.00 plus the bank’s 10-20% down on the loan. So there goes your sale.
February 17th, 2010 at 4:12 am
bcbackrider
Ya me …
bcbackrider
Ya me too. 11 years ago the apartment I was renting kept raising the rent. Finally they me off one too many times and I started house shopping. Even 11 years ago I was aghast at how expensive houses were and I really didn’t need that much space anyway, so I bought the condo I’m living in now. My payment was way less than my rent and I got an extra bedroom and extra 3/4 bath as a bonus! And as a further bonus I only had to move a block away so I still had a 1 mile commute.
February 17th, 2010 at 4:12 am
Investors are also …
Investors are also buying these deeply discounted properties: I live near Sunriver – big tourist resort in Central Oregon – and upscale rental homes(purchased mainly to rent out to tourists) in this resort community are being sold at almost half of what they were worth just a few years ago.
February 17th, 2010 at 4:12 am
I’ve heard …
I’ve heard investors and many first time and repeat home buyers (when the govt.) was offering the $8K home buyer credit) -
I’ve heard most of what is moving are the homes which have been foreclosed on (example: friend I know made a bid to the bank for a home that was valued at $250K a few years ago – and bought it for $120K). I can’t say if it was a good decision because the market could still easily fall even more here.
February 17th, 2010 at 4:12 am
thanks man , yeh …
thanks man , yeh thats insaine I wonder who is buying up the forclosed homes mabey investers ?
February 17th, 2010 at 4:12 am
Our area has been …
Our area has been hit hard by foreclosures and we just hit a record last month on how many NOD (notice of defaults) were posted for one month. I know the real estate agents doing the best in this area are specializing in short sales and foreclosed homes.
Very smart to anticipate what could be coming to your area as well.
Wish you the best.
February 17th, 2010 at 4:12 am
well i can …
well i can understand your fustration thats for sure , anyway you can work with you bank to get a lower amount or a new interest rate? I hear some are revalueing the property for some people
February 17th, 2010 at 4:12 am
Well im sorry it …
Well im sorry it didnt work out for you and yes thats what advice my broker gave me off the start was that you have to like people and be a people person mabey you would have been better in a city comercal inviorment less chit chat and more straight talk but anyways thanks for the compliment cheers
February 17th, 2010 at 4:12 am
absolutly man glad …
absolutly man glad you got a place
February 17th, 2010 at 4:12 am
Yeah that’s our …
Yeah that’s our problem we can’t lower anymore then we will have to bring more money to the closing. I have lived here for 6 years and am so ready to move on.
February 17th, 2010 at 4:12 am
LOL thanks man i …
LOL thanks man i will remember that one for sure !!!!!!LOL
February 17th, 2010 at 4:12 am
sadly you are right …
sadly you are right about some realitors there are some dishonest and lazy ones out there thats for sure
February 17th, 2010 at 4:12 am
yes i do and your …
yes i do and your very right thats how they can say things are better than they are plus i thing it alows them to get more bail money that way to
February 17th, 2010 at 4:12 am
thats very true and …
thats very true and the right idea as for the HST im taking a coarse on it in march and will do a vid on it then alot of people are wondering about it
February 17th, 2010 at 4:12 am
I believe our tar …
I believe our tar sands have alot to do with that and our balanced budjet over the last decade however that to is now a thing of the past
February 17th, 2010 at 4:12 am
yes that is all …
yes that is all very true its more like a matter of when realy thanks