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Forum » Housing market in Ontario is fking tough
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Thread: Housing market in Ontario is fking tough

post 1465025461 10-04-2016, 10:15 AM
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Housing market in Ontario is fking tough

Just got outbid on a house which i offered 15k above asking price.

Was buying this for my parents as they have helped me a lot and made me who i am today (paid off student loans, helped me with downpayment for my first townhouse). Also im doing okay financially and want them to move out of the chitty apartment they are living in.

Worst part is i sent them pictures of the house and they fell in love with it. Dad said it was his dream house and already started calling relatives inviting them for house warming in december (i know). The look on my dads face after i told them i got outbid is fking killing me. Feelsbad holdmetight brahs.

-got outbid on a house
-crushed dads dream
-depressed af now
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post 1465025791 10-04-2016, 10:17 AM
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Go to Vancouver if you want to see a "rough" housing market.
post 1465025881 10-04-2016, 10:18 AM
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what area in Ontario
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post 1465026161 10-04-2016, 10:21 AM
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Originally Posted By CanadasFinest⏩
what area in Ontario
Waterloo a.k.a. china
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post 1465026471 10-04-2016, 10:23 AM
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Originally Posted By 21stCenturyKid⏩
Go to Vancouver if you want to see a "rough" housing market.
They smartened up and put a foreign homebuyer tax. Now watch these chinese rich people do the same to toronto and rest of ontario.
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post 1465027011 10-04-2016, 10:28 AM
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Bidding wars suck. The only way to win is not to play.

You gotta be crazy to bid above asking without even knowing what the other bids are.

Tell your realtor you are only interested in houses where the seller will take offers immediately. If it's "hold all offers until such and such date" type of scenario, tell them no thanks.
post 1465027051 10-04-2016, 10:28 AM
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Originally Posted By brownbrah113⏩
Waterloo a.k.a. china
Wata-WOO! Yeah it's expensive there. Guelph is even worse for the kind of city it is. Completely unprogressive and behind most cities in pretty much everything yet housing costs are through the roof (no pun intended). I guess we do have one thing going for us. It's safe to live here. That's about it.
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post 1465027721 10-04-2016, 10:34 AM
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thats what happens when u got a cuck PM who letting china buy canada
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post 1465029311 10-04-2016, 10:45 AM
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Originally Posted By Quiggie⏩
Bidding wars suck. The only way to win is not to play.

You gotta be crazy to bid above asking without even knowing what the other bids are.

Tell your realtor you are only interested in houses where the seller will take offers immediately. If it's "hold all offers until such and such date" type of scenario, tell them no thanks.
All houses here are bidding wars man. I saw the neighbouring townhouse go for 10k over asking and if you look at the place from inside it was nastyy. 68 year old single dude lived there who smoked. Some contractors working there told me sink and bathtub had growing mold for years, i almost threw up.
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post 1465029971 10-04-2016, 10:51 AM
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Go buy a house in China instead...
Oh wait...
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post 1465030351 10-04-2016, 10:53 AM
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Originally Posted By Nocturnal310⏩
thats what happens when u got a cuck PM who letting china buy canada
Srs need a canadian trump for next election. Make canada great again
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post 1465030451 10-04-2016, 10:54 AM
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Originally Posted By brownbrah113⏩
Waterloo a.k.a. china
Can confirm, KW housing market is tough but you just gotta stay patient and push on.

Took me 2 months of looking to get a place I liked that checked all my wants.
Originally Posted By Quiggie⏩
Bidding wars suck. The only way to win is not to play.

You gotta be crazy to bid above asking without even knowing what the other bids are.

Tell your realtor you are only interested in houses where the seller will take offers immediately. If it's "hold all offers until such and such date" type of scenario, tell them no thanks.
^^ This. Worked for me, eventually. Avoid looking in May/June, early July as families want to be out of and into a new place before school starts. August/September is a good time frame.
post 1465030951 10-04-2016, 10:57 AM
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Out of curiosity, what were the specs (sq footage br/ba, updated?) and what was it listed at? I just want to feel even better about the housing market in FL lol
post 1465030971 10-04-2016, 10:57 AM
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Lol at the chinese coming here and buying property in cash. Brb parents sold an apartment in brooklyn for 1 million.. Chinese guy paid it in cash. U wot.
post 1465031341 10-04-2016, 11:00 AM
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Thats how it is in socal too. Every good house in a good area gets easily 20k+ of asking price. Just cannot win unless u have a lot of money to bid. Dont think ill be able to buy a decent house here unless i have like 700k. Only hope is to move further away or to a cheap state.
post 1465031681 10-04-2016, 11:03 AM
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Originally Posted By FL_Z32⏩
Out of curiosity, what were the specs (sq footage br/ba, updated?) and what was it listed at? I just want to feel even better about the housing market in FL lol
About 1100 sq. Ft. It was 3 bed two bath finished basement, garage, fully updated, marble and stone kitchen, big backyard. List price: 505k. My bid: 520k
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post 1465031991 10-04-2016, 11:04 AM
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Originally Posted By brownbrah113⏩
About 1100 sq. Ft. It was 3 bed two bath finished basement, garage, big backyard. List price: 505k. My bid: 520k
Sickening. Houses 3X the size cost half the amount around here.
post 1465032351 10-04-2016, 11:06 AM
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Originally Posted By FL_Z32⏩
Sickening. Houses 3X the size cost half the amount around here.
I know im always jelly of ameribrahs who live anywhere except cali and new york
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post 1465032421 10-04-2016, 11:07 AM
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Originally Posted By brownbrah113⏩
Waterloo a.k.a. china
It's not just Waterloo, in Windsor they're buying up chit too. You see kids driving around in Mclarens and Ferraris and chit...not one word of English, just sent her to buy cheap property for their parents back in China.
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post 1465032471 10-04-2016, 11:07 AM
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Originally Posted By brownbrah113⏩
Waterloo a.k.a. china
I've been looking in KW for 6 months. Have put about 20 offers down and have been outbid each time.

There's 3 problems right now.
1. Lack of new builds
2. GTA people moving here. Our market is massively low compared to theirs. So 20k over is nothing to them
3. When a good deal pops up with low offers, agents buy them.
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post 1465033251 10-04-2016, 11:13 AM
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Originally Posted By GriecoR⏩
I've been looking in KW for 6 months. Have put about 20 offers down and have been outbid each time.

There's 3 problems right now.
1. Lack of new builds
2. GTA people moving here. Our market is massively low compared to theirs. So 20k over is nothing to them
3. When a good deal pops up with low offers, agents buy them.
Originally Posted By badbl00d⏩
It's not just Waterloo, in Windsor they're buying up chit too. You see kids driving around in Mclarens and Ferraris and chit...not one word of English, just sent her to buy cheap property for their parents back in China.
I wanted to speak to my local mp and put an end to this srs. Too bad theyre all liberal cucks too. My mp is this indian chick that sounds like she just graduated from school of liberal hippy circlejerking.
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post 1465042591 10-04-2016, 12:17 PM
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Originally Posted By brownbrah113⏩
They smartened up and put a foreign homebuyer tax. Now watch these chinese rich people do the same to toronto and rest of ontario.
They did it because an election is coming. They did jack fuk all for 4 years now all of sudden they care. Fuking scum.
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post 1465043621 10-04-2016, 12:22 PM
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Originally Posted By brownbrah113⏩
I wanted to speak to my local mp and put an end to this srs. Too bad theyre all liberal cucks too. My mp is this indian chick that sounds like she just graduated from school of liberal hippy circlejerking.
Ya cause harper did so much for affordable housing right and he was so against NAFTA and TPP. lol
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post 1465045971 10-04-2016, 12:38 PM
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That fk'n sucks brah, Ontario gets the chit end when it comes to pricing on everything. Would your parents mind if you looked for an alternative location within ontario?
Originally Posted By brownbrah113⏩
They smartened up and put a foreign homebuyer tax. Now watch these chinese rich people do the same to toronto and rest of ontario.
That pisses me off that they've only started inplementing these changes now. China has already started buying ontario and it will take forever for us to realize what Vancouver went through and do the same. We need FEDERAL measures to stop them from taking over and install some hefty taxes
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post 1465049451 10-04-2016, 01:04 PM
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Originally Posted By ggMoe⏩
That fk'n sucks brah, Ontario gets the chit end when it comes to pricing on everything. Would your parents mind if you looked for an alternative location within ontario?



That pisses me off that they've only started inplementing these changes now. China has already started buying ontario and it will take forever for us to realize what Vancouver went through and do the same. We need FEDERAL measures to stop them from taking over and install some hefty taxes
In Toronto they'll buy an entire floor of new build condos and not even rent them out. It's just a safe place to park money and it's ****ing ludicrous.

There are still a few gem locations in Ontario, mainly north and west of London. Average home prices of around 250k and great places to raise a family.
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post 1465053451 10-04-2016, 01:36 PM
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Originally Posted By brownbrah113⏩
About 1100 sq. Ft. It was 3 bed two bath finished basement, garage, fully updated, marble and stone kitchen, big backyard. List price: 505k. My bid: 520k
You sound like a good man.

What area in waterloo was it if you don't mind me asking? And what do you do that you're able to afford a house worth half a million at age 25?
post 1465053961 10-04-2016, 01:38 PM
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Originally Posted By SkiGains⏩
OP how many people were bidding on it? the selling realtor has to legally tell you. The rule of thumb is $10k over asking per bidder
My bid was the only one when i made it (sunday). Seller was going to review all offers on monday second offer came in at 5 pm on monday. I got outbid, they have to finalize the deal still as it is pending financing and home inspection. After final deal i will get to find out how much i got outbid by.
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post 1465054321 10-04-2016, 01:40 PM
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Originally Posted By ProboscisMonkie⏩
Lol at the chinese coming here and buying property in cash. Brb parents sold an apartment in brooklyn for 1 million.. Chinese guy paid it in cash. U wot.
Fukking crazy how the Chinese can afford to do this. There's got to be a chit ton of corrupt business going on in that country.
post 1465054691 10-04-2016, 01:42 PM
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Originally Posted By Ferocious12⏩
You sound like a good man.

What area in waterloo was it if you don't mind me asking? And what do you do that you're able to afford a house worth half a million at age 25?
North waterloo, lakeshore. I have a full time job in construction and i have my own business on the side and do some odd jobs / contracting.
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post 1465054701 10-04-2016, 01:42 PM
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Reviving this thread.

So had an offer on a home yesterday and lost.

These were the numbers.
Listed price:319,900 (was worth more)
My offer:360,000
Winning offer:360,500
6 offers including mine.

I honestly think in this case, the realtor tipped a friend of hers off about the highest bid. The offer that beat me is way to suspicious

Anyways the market is crap. Town homes are are approaching 400k.

I'd suggest buying an older detached that doesn't show el well. Those Brampton people want a move in ready home so go for something that requires a little work.

Also PM me. Not an agent but I have access to MLS. Willing to do some searches for you.
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