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-- 2006.11.12. TORONTO CONDO SHOW @ Metro Convention Centre (Nov 10-12th)
2006.11.12. TORONTO CONDO SHOW @ Metro Convention Centre (Nov 10-12th)
for anyone who's in the market for a new crib ..
http://www.torontocondoshow.com/
hoping to find some good stuff there!
Nice. Although - I may already have one by then.
and for all you condo shoppers...PM me when you need a mortgage 
I'm not buying until next summer, most likely...but I will go check this out and bring a stack of business cards with me 
Detached Single Family Homes FTW!
Jokin'....
I would have probably gone a year or so ago but now with the baby on the way...*sigh*
Here comes the crash!
| quote: |
| Originally posted by Orko Here comes the crash! |
^^^ me too, but I'll believe it when it happens...
October is going to be my best month ever here...by 20%.
"crash"? whatever...not going to happen.
correction? yes.
We should see slower appreication on condos and a healthy supply of resale condos in the not-to-distant future...supply is still being met my demand...go to most new developments and see how fast the units are being gobbled up...it's ridiculous!
Calgary and Edmonton seems to be worse, btw...people have lined up OVERNIGHT for grand openings, lol!
| quote: |
| Originally posted by MarkT ^^^ me too, but I'll believe it when it happens... October is going to be my best month ever here...by 20%. "crash"? whatever...not going to happen. correction? yes. We should see slower appreication on condos and a healthy supply of resale condos in the not-to-distant future...supply is still being met my demand...go to most new developments and see how fast the units are being gobbled up...it's ridiculous! Calgary and Edmonton seems to be worse, btw...people have lined up OVERNIGHT for grand openings, lol! |
http://www.thestar.com/NASApp/cs/Co...l=1010666657183
| quote: |
September condo sales increase Oct. 21, 2006. 01:00 AM THERESA BOYLE REAL ESTATE REPORTER Last month was the strongest September in the last five years for condo sales in the Greater Toronto Area, according to the association representing GTA builders. There were 1,419 new condos sold last month, up 13 per cent from last year. But low-rise sales are going in the opposite direction, with 1,623 homes sold last month, down 14 per cent from September last year. "The low-rise home and highrise condo markets continue to trend quite differently," said Desi Auciello, president of the Greater Toronto Home Builders' Association � Urban Development Institute. "As we've seen in previous months, people are choosing condominium apartment living outside the city of Toronto, particularly in Peel and York regions," Auciello added, noting the highrise sales spiked an astronomical 300 per cent in York Region. Through the first nine months of the year, there have been more than 30,000 new homes and condos sold in the GTA, putting the industry on track for the seventh consecutive year of 40,000 or more new home sales. For September, low-rise homes took 53 per cent of the market while highrise apartments accounted for a 47 per cent market share. So far this year, low-rise homes have accounted for 55 per cent of all new home sales, with highrise making up for the rest. The low-rise new home price index sits at $392,893 while the highrise price index is at $317,896. The index is essentially the average asking price of all the remaining new homes and condos available for sale. The new home price index is based on available new homes, weighted by remaining inventory, for projects of 15 or more units, excluding ultra-luxury homes, in the GTA. |
Hey Mark,
Are you a mtg broker? Or do you work for a company as a specialist?
I'm a specialist with PC Financial Mortgages (which is wholly owned by CIBC Mortgages)...have been there for 3.5 years now.
I'm debating going the broker route...it's the months of making little to no money while you build up a client base that is not terribly appealing though, lol.
I'm an Account Executive in the financial world myself which is why I asked 
I thought about getting into the broker side myself once upon a time, but the fact that you pretty much need to have enough money saved for your first 6 months cuz you won't make much at all destroyed that thought for me.. lol
ah, cool!
It's hard to get started...but after a while, you can be set.
I know a broker who's been doing it for 5 years. They make six figures without the need to seek out new business. They get enough work from existing clients and word of mouth...all while working from home.
nice.
oh well...I'm going to go to the show and whore myself, if possible :P
can anyone suggest a good place to start with condo hunting? i'm so innundated with info rite now i feel lost .. 
you can search on the MLS yourself by area, price range, etc. (www.mls.ca)
most new developments have websites with floorplans and further info...some even include price lists.
honestly, I'd speak with a good real estate agent who knows the area and the buildings fairly well...even if you're going to buy a new unit right from the builder. They can set up an automated search that will email you MLS listings for buildings in your area and price range of choice.
when you're ready to buy, any offer should at least be made conditional upon your obtaining financing. For existing buildings (especially older ones) also making it conditional upon a review of the condo corporation's financials by your lawyer is a really good idea.
| quote: |
| Originally posted by magikb In Alberta and BC the values for properties are through the roof. |
| quote: |
| Originally posted by MarkT you can search on the MLS yourself by area, price range, etc. (www.mls.ca) most new developments have websites with floorplans and further info...some even include price lists. honestly, I'd speak with a good real estate agent who knows the area and the buildings fairly well...even if you're going to buy a new unit right from the builder. They can set up an automated search that will email you MLS listings for buildings in your area and price range of choice. when you're ready to buy, any offer should at least be made conditional upon your obtaining financing. For existing buildings (especially older ones) also making it conditional upon a review of the condo corporation's financials by your lawyer is a really good idea. |
the builder won't care...your bank may. As long as the owner (or the owner's immediate family) lives there as well, it's usually not an issue and not classified as a "rental".
I think a 2 bedroom is a much better investment than a 1, in terms of resale value...I want to go that route as well, if possible (minus the tenant, but TBD)
as for waiting...I dunno. Prices just shouldn't be going up as much as they have been in recent years, but they will continue to rise. I've seen some *crazy* increases in as little as two years, but that should settle down.
my other recommendation...strongly consider a variable rate and don't settle for anything worse than 0.85% or 0.90% below prime. Those are readily available rates. Prime seems to have hit a ceiling at 6.00% and CIBC analysts are calling for a 0.50% drop by the end of 2007. .
Stats show that a significant majority of people (almost 90%) who stick with a variable rate mortgage do better than those who go fixed or alternate back and forth. You just have to be prepared to ride the ups and downs.
yeah it's a good suggestion. I already work for TD and had been considering a variable for some time given the trends with prime. I juss have another property i need to get off before i can look into anything new. the 2 bedroom is a must. i can't imagine how anyone manages to get by in those tiny 600 sq ft. bachelors ..
any free tickets for the condo show?
| quote: |
| Originally posted by MarkT ^^^ me too, but I'll believe it when it happens... October is going to be my best month ever here...by 20%. "crash"? whatever...not going to happen. correction? yes. We should see slower appreication on condos and a healthy supply of resale condos in the not-to-distant future...supply is still being met my demand...go to most new developments and see how fast the units are being gobbled up...it's ridiculous! Calgary and Edmonton seems to be worse, btw...people have lined up OVERNIGHT for grand openings, lol! |
i have a bunch of 2 for 1 tickets for anyone who wants them - please pm me
| quote: |
| Originally posted by girllovingtvibe i have a bunch of 2 for 1 tickets for anyone who wants them - please pm me |
fuuuuuck, I think I'm going to be out of town now.
but Mark Farina @ Stereo > the condo show
Orko, I think good agents with an established client base won't be hurting too bad, even if there was a huge downturn (which there won't be). Overall sales are still quite high. Half the people buying new builds don't use a realtor anyway...so as long as the resale market remains alive, good agents will do well.
I gotta pop n hit this one for sure......
jokes.....
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