Comments on: Is the Toronto Condo Market Crashing? http://www.truecondos.com/condo-stats-october-2008/ New Condo Development Specialist Thu, 10 May 2012 22:36:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Toronto Condo Market Stats January 2009 | AndrewLaFleur.com - Toronto Condos http://www.truecondos.com/condo-stats-october-2008/comment-page-1/#comment-2836 Toronto Condo Market Stats January 2009 | AndrewLaFleur.com - Toronto Condos Fri, 06 Feb 2009 23:19:08 +0000 http://andrewlafleur.com/?p=406#comment-2836 [...] October 2008 Condo Market Update: “Is the Toronto Condo Market Crashing?” [...] [...] October 2008 Condo Market Update: “Is the Toronto Condo Market Crashing?” [...]

]]> By: New Condo Market Sales Statistics December 2008 | AndrewLaFleur.com - Toronto Condos http://www.truecondos.com/condo-stats-october-2008/comment-page-1/#comment-2498 New Condo Market Sales Statistics December 2008 | AndrewLaFleur.com - Toronto Condos Tue, 27 Jan 2009 17:00:11 +0000 http://andrewlafleur.com/?p=406#comment-2498 [...] have dropped off significantly. [Note: these numbers are for new condos. For resale condos, see my previous posts for more stats on the downtown condo market.]In 2007, over 23,210 new condos were [...] [...] have dropped off significantly. [Note: these numbers are for new condos. For resale condos, see my previous posts for more stats on the downtown condo market.]In 2007, over 23,210 new condos were [...]

]]> By: believe me http://www.truecondos.com/condo-stats-october-2008/comment-page-1/#comment-2433 believe me Sun, 25 Jan 2009 01:25:47 +0000 http://andrewlafleur.com/?p=406#comment-2433 people tell me that the bay street condos is worth 600sqft. but now the new condos are selling below 400sqft. "investors" and realters are too greedy. In 2004 the price is below 300 sqft. Some bought assignment which Isaw and today are selling around or below 400. They are making more than 100% (assignment only pay 20% of total". They are much less condo available at that time. and much better economic enviorment than today. Considering job loss in manufacturing and oil prices and US crisis which Canada rely 70% of its export. Can you believe that politician said Canada is resistant and different and without recession!! My suggestion is the downtown core condo price will be back to around 300$ per sqft. To be realistic, ask a condo builder. I know some assignment buyers are returning their contract purchase and are fined 20,000--. The resale condo prices are still listed very high. My speculation is that many cannot sell even cut 10 or 20%. See what is happening if you have specific condos in buying and selling. Crisis are the result of greedy people tell me that the bay street condos is worth 600sqft. but now the new condos are selling below 400sqft.

“investors” and realters are too greedy. In 2004 the price is below 300 sqft. Some bought assignment which Isaw and today are selling around or below 400. They are making more than 100% (assignment only pay 20% of total”. They are much less condo available at that time. and much better economic enviorment than today. Considering job loss in manufacturing and oil prices and US crisis which Canada rely 70% of its export. Can you believe that politician said Canada is resistant and different and without recession!!

My suggestion is the downtown core condo price will be back to around 300$ per sqft.

To be realistic, ask a condo builder. I know some assignment buyers are returning their contract purchase and are fined 20,000–. The resale condo prices are still listed very high. My speculation is that many cannot sell even cut 10 or 20%.

See what is happening if you have specific condos in buying and selling.
Crisis are the result of greedy

]]> By: Bibi http://www.truecondos.com/condo-stats-october-2008/comment-page-1/#comment-1832 Bibi Mon, 08 Dec 2008 22:43:15 +0000 http://andrewlafleur.com/?p=406#comment-1832 Hello Andrew! Keep the posetive energy going and of course we are felling what`s going on, but Toronto is very Strong and Smart and we well find a way out. please let us know what goes on with the market. Remember energy flows where attention goes! Hello Andrew!
Keep the posetive energy going and of course we are felling what`s going on, but Toronto is very Strong and Smart and we well find a way out.
please let us know what goes on with the market.
Remember energy flows where attention goes!

]]> By: Andrew la Fleur http://www.truecondos.com/condo-stats-october-2008/comment-page-1/#comment-1805 Andrew la Fleur Fri, 05 Dec 2008 17:08:12 +0000 http://andrewlafleur.com/?p=406#comment-1805 Hey Chris, Thanks for the comments! You're right, the change has been very sudden and has hit most agents by surprise. I suspect a huge number of agents will not be renewing their licenses this year! I just posted my analysis of the NOVEMBER numbers. Check it out <a href="http://andrewlafleur.com/condo-stats-november-2008" rel="nofollow">HERE</a>. Hey Chris,

Thanks for the comments! You’re right, the change has been very sudden and has hit most agents by surprise. I suspect a huge number of agents will not be renewing their licenses this year!

I just posted my analysis of the NOVEMBER numbers. Check it out HERE.

]]> By: Chris http://www.truecondos.com/condo-stats-october-2008/comment-page-1/#comment-1804 Chris Fri, 05 Dec 2008 17:04:24 +0000 http://andrewlafleur.com/?p=406#comment-1804 i like to write things, then come back and read them a few times, eventually loosing interest. Andrew please comment on my comment so i can feel like my efforts have not been wasted. Thanks and good luck! When the going gets tough, the tough gets going! i like to write things, then come back and read them a few times, eventually loosing interest. Andrew please comment on my comment so i can feel like my efforts have not been wasted.

Thanks and good luck! When the going gets tough, the tough gets going!

]]> By: Toronto Condo Market Stats November 2008 | AndrewLaFleur.com - Toronto Condos http://www.truecondos.com/condo-stats-october-2008/comment-page-1/#comment-1802 Toronto Condo Market Stats November 2008 | AndrewLaFleur.com - Toronto Condos Fri, 05 Dec 2008 16:55:18 +0000 http://andrewlafleur.com/?p=406#comment-1802 [...] isn’t pretty.  TREB just released their sales figures for the month of November and unlike last month, we can now say that for the resale downtown condo market, prices have fallen.  Let’s [...] [...] isn’t pretty.  TREB just released their sales figures for the month of November and unlike last month, we can now say that for the resale downtown condo market, prices have fallen.  Let’s [...]

]]> By: Chris http://www.truecondos.com/condo-stats-october-2008/comment-page-1/#comment-1801 Chris Fri, 05 Dec 2008 15:22:31 +0000 http://andrewlafleur.com/?p=406#comment-1801 The real estate agents I chat with on open house days downtown king west area look like deers caught in head lights scratching their heads wondering wtf happened. Many are thinking that its only been a few months and things are this bad, what about the future. Personally I think now is a good time to buy if you have the stomach for it, sellers are prepared to take steep discounts. Not to mentioned, coached by Agent to sell for less, in order to close the sale and keep floating. I usually don't use an agent (use the sellers agent) to get further discounts. I can't justify high commissions for the work done by the buyer on the internet. Not to mention agents are simply sales people offering no value added services and have little to no construction or building system knowledge. I would be nervous if my profession was a newbie agent, the old timers will likely survive having to do with less and counting on existing client base. The prices per condo being 346,344 means nothing. Price per square foot has meaning. The real estate agents I chat with on open house days downtown king west area look like deers caught in head lights scratching their heads wondering wtf happened. Many are thinking that its only been a few months and things are this bad, what about the future. Personally I think now is a good time to buy if you have the stomach for it, sellers are prepared to take steep discounts. Not to mentioned, coached by Agent to sell for less, in order to close the sale and keep floating. I usually don’t use an agent (use the sellers agent) to get further discounts. I can’t justify high commissions for the work done by the buyer on the internet. Not to mention agents are simply sales people offering no value added services and have little to no construction or building system knowledge. I would be nervous if my profession was a newbie agent, the old timers will likely survive having to do with less and counting on existing client base. The prices per condo being 346,344 means nothing. Price per square foot has meaning.

]]> By: Philip Tallian http://www.truecondos.com/condo-stats-october-2008/comment-page-1/#comment-1658 Philip Tallian Sun, 23 Nov 2008 16:40:08 +0000 http://andrewlafleur.com/?p=406#comment-1658 I've actually bought two months ago an investment condo downtown and rent it right away at a break-even monthly rent value. The tenants did not blink when I've asked for $1,650/mo for a 1 bdr + den at 800 sq ft. Now I am buying another two units by the end of the year. I don't feel like downtown market will feel a significant correction in 2009 like the one experienced by US; and if it does, that's even better for I will be able to buy another unit, maybe two. These are great times for buyers, and so great for sellers; however, I would say that downtown investments are holding their value, for instance I've lost at least 3-4 properties due to a multiple-offers "war". I feel for the guys in the suburbs with houses, but south of Bloor things are not that bad. I’ve actually bought two months ago an investment condo downtown and rent it right away at a break-even monthly rent value. The tenants did not blink when I’ve asked for $1,650/mo for a 1 bdr + den at 800 sq ft. Now I am buying another two units by the end of the year. I don’t feel like downtown market will feel a significant correction in 2009 like the one experienced by US; and if it does, that’s even better for I will be able to buy another unit, maybe two. These are great times for buyers, and so great for sellers; however, I would say that downtown investments are holding their value, for instance I’ve lost at least 3-4 properties due to a multiple-offers “war”. I feel for the guys in the suburbs with houses, but south of Bloor things are not that bad.

]]> By: Andrew la Fleur http://www.truecondos.com/condo-stats-october-2008/comment-page-1/#comment-1585 Andrew la Fleur Fri, 21 Nov 2008 20:42:12 +0000 http://andrewlafleur.com/?p=406#comment-1585 Hi Soccermom. With the cdn dollar where it is, yes, it would be a great time for you. buying properties at 80 cents on the dollar sounds like a good investment to me! Hi Soccermom. With the cdn dollar where it is, yes, it would be a great time for you. buying properties at 80 cents on the dollar sounds like a good investment to me!

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