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#373102 - 04/19/11 04:42 AM House Prices *****
gaia111 Offline
Junior Member

Registered: 01/31/11
Posts: 6
Loc: Toronto, Ontario
I am realtor from Toronto. I try to monitor the current house prices from dozens canadian areas. However me and some my colleagues donīt understand a topical process into real estate markets. It seems to me house price here didnīt fall much during the recession, on the other hand, they are booming again!

Dou you understand this process with house prices at the moment? What are your opinions on this fact?

Thank you for your posts and remarks.

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#373266 - 04/20/11 01:03 PM Re: House Prices [Re: gaia111]
ILT Offline
Junior Member

Registered: 01/31/11
Posts: 2
Loc: Toronto, Canada
My business activities are also the real estate, especially in Toronto. It could be a true. On the contrary, I dontīt quite concur with the huge prices boom. We need to create something like local database with house prices.

[quote=gaia111]I am realtor from Toronto. I try to monitor the current house prices from dozens canadian areas. However me and some my colleagues donīt understand a topical process into real estate markets. It seems to me house price here didnīt fall much during the recession, on the other hand, they are booming again!

Dou you understand this process with house prices at the moment? What are your opinions on this fact?

Thank you for your posts and remarks. [/quote]

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#373317 - 04/21/11 02:04 AM Re: House Prices [Re: gaia111]
gaia111 Offline
Junior Member

Registered: 01/31/11
Posts: 6
Loc: Toronto, Ontario
Hi ILT, nice opinion. Are you thinking something like this database? You can check it.
http://juliekinnear.com/toronto-real-estate-market-statistics


Edited by gaia111 (04/21/11 02:18 AM)

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#373337 - 04/21/11 08:49 AM Re: House Prices [Re: gaia111]
Kjmendy Offline
Veteran Member

Registered: 05/16/10
Posts: 935
Loc: London, Ontario
Are you sure you guys are REALTORS? I would suggest you check out all the tools your MLS board provides you. I know that my board crunches the numbers every month and publishes house market statisics.

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#398368 - 01/09/12 12:57 AM Re: House Prices [Re: gaia111]
SaltspringRE Offline
Member

Registered: 01/07/08
Posts: 213
Loc: Gulf Islands BC
I crunch my own numbers all the time and can do it in any market at any time to be able to see if prices will be going up, sideways or down. It is what economist do for the Real Estate associations. It is just simple math to figure out the monthly Sales to listing ratio. In any city or town or wherever you need to know the total number of active homes or lots or whatever you want...condos. Then you need to know how many sales per month.

An example is let say there were 100 active listing and in the last 30 days you have 25 sales you would have a ratio of 25% S/L.

The basic rule is if your are over 25% the market prices will go up if you are below 10% prices will be going down.

It's not rocket science.

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#398828 - 01/15/12 07:27 AM Re: House Prices [Re: gaia111]
Rezo Offline
Member

Registered: 01/15/12
Posts: 38
Loc: Malaysia
Properties is very resistance to general economic condition because houses is a basic need for us, thus nor matter how severe the condition out there, we need a place to stay & sleep!

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#404749 - 04/09/12 07:29 PM Re: House Prices [Re: gaia111]
huggyd Offline
Junior Member

Registered: 04/09/12
Posts: 6
Loc: Ontario
This is a very good topic.
From a lot research I have done particularly in the Guelph / Hamilton / and general surrounding area there doesn't seem to be a over-all driving factor for the housing costs. People are not making any more money at work, cost of living is always going up, fuel is always going up and yet people are still going out and buying $350,000 homes. There are townhouses that are on the market for $290 & $300 thousand. I see this and think who in their right mind would buy a townhouse for that much, and then it sells.... From a lot of reading I'm doing people in T.O. are sprawling out from T.o and for what a condo sells there, they are able to buy a townhouse somewhere else thus driving up the price for everyone else. With that being said I'm saying that everyone working in T.O. is rich but that seems to be where the money is coming from. As for the housing market itself it will reach a peak and 'pop' because really who can afford to that keep that $350,000 mortgage at 5% + $2.00\L fuel + rising cost of food + rising cost of home ownership = Foreclosure! (remember no one is making any more money at work) The real question would be when is this going to happen??

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#406470 - 05/09/12 01:43 AM Re: House Prices [Re: gaia111]
cartert Offline
Member

Registered: 04/14/12
Posts: 157
Loc: Saskatoon, Saskatchewan, Canad...
Saskatchewan and especially Saskatoon are booming. Our economy is growing at incredible rates though, there's a lot of immigration and our natural resources continue to be explored with new mines built and companies coming into the province.

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#406892 - 05/16/12 09:38 PM Re: House Prices [Re: gaia111]
Canadave Offline
Member

Registered: 01/26/05
Posts: 318
Loc: Ontario Canada
Average house price ???

How about "Average weight of fruit"

How about "Average height of trees"

Houses are different, people are different.

Will a buyer (if they're able) pay a premium to get the house they want ? Or will a seller discount his price for a quick sale if he has the motivation ?

Is there any way to know when, or if either of those things happened ?

Would both not impact the results ?

I submit that considering "average" price is a poor foundation for conversations about value.

Just sayin ...... cheers

CanaDave
_________________________
Watch the real estate market .. http://www.ChomzTV.com


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#408471 - 06/12/12 10:29 AM Re: House Prices [Re: gaia111]
Adriana Cyrus Offline
Junior Member

Registered: 12/02/11
Posts: 6
Loc: Canada
Can we have a house and my husband gets approve from the bank even though he's the only one who's working and he's annual income is just around $30K plus.

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#412220 - 09/04/12 02:30 PM Re: House Prices [Re: Adriana Cyrus]
savvymoney Offline
Member

Registered: 08/14/12
Posts: 87
Loc: Canada
Originally Posted By: Adriana Cyrus
Can we have a house and my husband gets approve from the bank even though he's the only one who's working and he's annual income is just around $30K plus.


Not in Ontario that's for sure.
The three most expensive cities for real-esate for Canada in those order:
Ontario (at least 50k from the GTA)
British Columbia (all of the province is very expensive)
Montreal (generally though Quebec is the cheapest for real-estate in Canada)

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#412580 - 09/11/12 05:06 PM Re: House Prices [Re: gaia111]
RyanLB Offline
Junior Member

Registered: 09/11/12
Posts: 6
Loc: Canada
Agreed, it would be extremely difficult to secure a mortgage for a detached house in most places in Canada on $30K/year... You'll probbaly need a second income, or else a large amount of money down. Still, ask your bank anyways; they may approve you in the end, so it's worth a shot!

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#412696 - 09/13/12 08:45 AM Re: House Prices [Re: RyanLB]
Kjmendy Offline
Veteran Member

Registered: 05/16/10
Posts: 935
Loc: London, Ontario
I am not a mortgage broker but on 30k you might be able to qualify for a mortgage on a smaller condo (ie less than 100k) which you could find in some of the smaller markets.

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#413191 - 09/21/12 08:25 PM Re: House Prices [Re: RyanLB]
namebutler Offline
Member

Registered: 09/21/12
Posts: 19
Loc: Canada
[quote=RyanLB]Agreed, it would be extremely difficult to secure a mortgage for a detached house in most places in Canada on $30K/year... You'll probbaly need a second income, or else a large amount of money down. Still, ask your bank anyways; they may approve you in the end, so it's worth a shot![/quote]

Depends on your location. The prices in some cities is pretty depressed. We are all caught up on the larger markets. get a decent down payment add one homemate/roommate and you might be able to afford a home in many small cities.

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#418419 - 01/15/13 09:14 PM Re: House Prices [Re: gaia111]
cartert Offline
Member

Registered: 04/14/12
Posts: 157
Loc: Saskatoon, Saskatchewan, Canad...
The average house price in Saskatoon increased 83% between 2006 and 2011. The average house price in the US during that time... I don't even want to know. Definitely didn't go up 83%, or stay even.

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#419646 - 02/04/13 06:47 PM Re: House Prices [Re: gaia111]
Scintillion Offline
Member

Registered: 01/26/12
Posts: 437
Loc: Colorado, USA
Wow, pretty old topic, but that's a huge increase for the Saskastoon market. Thanks for sharing, cartert!

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#419708 - 02/05/13 10:50 PM Re: House Prices [Re: gaia111]
cartert Offline
Member

Registered: 04/14/12
Posts: 157
Loc: Saskatoon, Saskatchewan, Canad...
Here's our current stats: http://www.saskatoonrealty.com/blog.html...ry-2013-2347824

Number of sales inside the city is down from last year so far, but the average price is up another 10%. There's a serious shortage of homes in the 250-400k price range that hit the market, anything that does moves instantly.

How are things in Colorado? You in Denver? I used to live there, love that city. Lodo was always a good time.

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#419790 - 02/07/13 12:16 AM Re: House Prices [Re: gaia111]
Mathew Offline
Member

Registered: 01/01/13
Posts: 35
Loc: Brampton,Canada
People tend to have short memories about real estate. Since 2000, the average home price in Canada has shot up by 125%, which has reinforced the perception that residential real estate is infallible.

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#419820 - 02/07/13 12:31 PM Re: House Prices [Re: gaia111]
cartert Offline
Member

Registered: 04/14/12
Posts: 157
Loc: Saskatoon, Saskatchewan, Canad...
Our market is so incredibly strong though, our entire economy and its growth is strong. Saskatoon was the fastest growing city in Canada in 2012 and is the youngest city as well.

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