HawthorneVillager.com

Maybe its because people looked at mattamys march pricelst and saw that similar houses new 4-5 moths ago were selling for under 600k not700k

WTF, why are you bad-mouthing Tothburgs, yo!

LOL I LOVE Tothburghs - just takes a fantastic one on a special lot to approach 700k

Please do.

#1) no cheap shots please... besides, wouldn't agent greed be to grossly underprice so they can sell right away and cash the cheque?

#2) The agent's job is to get the most for their clients home and handle all of the paperwork while keeping things as stress-free as possible. . I always tell clients what I think their home is worth, AND what I think it can sell for (Often those are two very different numbers) That's my job. It often doesn't make a difference to my bottom line if a house sells for $500k or 510k, but it might make a huge difference to my client.
Negotiations are just that. When we sell, we try to get the most for our clients. When we buy, we try to pay as little as possible. Does that mean when we buy, we are pruposely deflating the prices? NO, I'm working for my clients!

Situation is a LARGE factor in pricing. If you NEED to sell right away, price it at market and let me get it sold for you. If you have some time to spare, and if we can indeed justify a little bump in price as a result, why wouldn';t I try to do that for my clients?
You want me to undercut a client by 20k "for the good of the market"?
If you have a stock sell order in at market, would it be ok if your bank gave you 20k less than what it could have sold for?

A carpeted Lyndhurst is not worth 590k.
A well decorated Huxley is not worth $580k
3 bedroom 46' homes don't have as many buyers

BUT people have the right to price their home at whatever they want, depending on their situation. People can price things at whatever they want. Doesn't mean they'll sell it. Or maybe they will. See Kijiji or any classified ads. See Autotrader. See anything being sold by anyone, anywhere on the planet. There will always be a supply demand curve, and always units that don't sell at the first price. My mother in law thinks her 20 yr old leather couch is worth $1000. Perhaps somebody out there has a nostalgia element to their search and will pay that $1000. It is her choice what to sell for -- either she sells, or she doesn't. If she lowers her price to $800, is the market crashing? No!

I am agreeing with you.. There are a lot of homes that even I would consider overpriced... ones I tell my buyers to run from!
I'm still confused at what we're debating here.

First of all, I don't control what my peers do.
Secondly, I'll say this again and again, every single seller situation is different.
I have seen agents overprice when they shouldn't, impacting their sellers in a negative way, and I have seen other agents price correctly to market but have their seller clients disagree and want to increase the price.
I myself have overpriced by a little ONLY when the situation allows, and that has never failed me.

As for your 'challenge' if you want me to pick ones that I think aren't overpriced, I can't do that since I don't want to insult anyone else's price choice. Different story if you were my buyer client, I would tell you exactly what each house was worth and encourage you to keep your bids only in the range of a home's actual worth.

What I'll do for you is pick one.
484 Cusick. Not unreasonably priced at all. (Of course, it was indeed listed higher and expired originally, so I guess it doesn't really fit into your game... Although this NEW listing is by a new agent. Does that matter?)

That wasn't a well decorated Huxley, that thing was gorgeous.
There was $40k in concrete and hardwood alone. I brought a client through there and I agreed it wasn't for them, but for a family that specifically WANTS hardwood on both floors, AND that type of stamped concrete, perhaps they are willing to pay a little more to have the home move-in ready.

That's what you're leaving out here... home prices are not just about square footage and upgrades. It's about finding a match between how much someone is willing to sell for, and how much someone else is willing to buy it for.
If you want to blame somebody for price jumps, blame the out of town buyer agents that bring their buyers to Milton after they've lost 2 bidding wars in Mississauga.
Milton houses are worth more than they were 10 yrs ago because Milton is a completely different place. Values are going up because more and more people want to live here. As long as we're a touch cheaper than Oakville and Mississauga, things will continue as is.
It's that simple.

I'm guessing this forum isn't doing justice to the points you're trying to get across. When enough people agree with you, the madness will stop. Buyers are paying 600k, 700k, when will it stop? That's not for you or I to decide.

I will say it one more time...
When working with some of my buyer clients, I AGREE with you.

Another interesting take.. very long article but interesting reading. What did catch my eye is this part, and what it means for those holding mortgages. Low rates for years to come and inflation widdling away at the value of the debt owing.

http://business.financialpost.com/2011/ ... bt-crisis/

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if it wasnt bad enough that old skool and dabills would argue with everyone, now theres quality input from and industry profesional thats well regarded on this board and in his profesion im sure. theres no reasoning with 2 idiots that know it all. im more than sure neither of you has any industry experience other than what you copy and paste, give it a rest already. to top it off you blame the real estate agents for high house prices, "if the seller is unrealistic in price you should walk away". im sure i would do that when i have kids to feed and the next agent would happily list the home for whatever the client wants. Old skool your a douchebag for this comment.

wow this thread is huge...

Why are people debating when prices will drop? lol if it drops then go buy. If it doesn't then stay where you are or better yet still go buy.... how many choices does one really have...

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im actually being polite. yes i did have to edit my post. also you seem to argue against common sense, other than your own of course. i didnt say fred is above anything, im sure he know more about the market then both of us together. i just have the courtesy of not calling him out on it, and not making a jackass of myself. you are right about the race and religion threads though. i leave those to scotian.

youve opted a few choice words for me as well old skool. your right as i have no right to call you those names. it is in fun, although it may not sound like it, i dont take this to heart or get mad. my point has always been this this may or may not happen, nobody knows no matter what the economic indicators are. i still dont agree with a 10% drop in Milton. we still have to catch up to miss/bra. are houses worth what they are selling for? not at all and ive stated this. but it is what poeple are selling and buying them for. if houses are cheaper, people have more disposable $$ to drop soemwhere else, less stress etc. life is better in general. you must conclude a 20% drop would not be good for anyone. neither you as a homeowner or the economy in general. well see, as for u dabills, you dont qualify as your in oakville, move back to milton then ill let you participate again, your input has been nil.

COndo market is still hot....

http://www.moneyville.ca/article/102718 ... he-weather

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The globe is reporting today that a house sold for 26% above asking price (with that being said, it was listed well below the market value). The house last sold in 1998 for $193,000, and 13 years later in 2011, it sold for $506,000. That is a 162% increase in value over the last 13 years with a $313,000 return on their original purchase. On average, the increase was $24K/year).

Even if there is a 10% correction, just look at how significant the increases have been in the last 8 years in Milton alone. Sure, people who are purchaseing today, will not see the same gains as home owners who purchased a number of years ago, however, the dream of Home Ownership is still alive and well. That is why you continue to see line ups and people camping out at the Mattamy sales center (Arista/Greenpark and Fieldgate) as well, whenever there is a new release.

As for comments about homes being over priced or listed in Milton, an agent can recommend a fair asking price, however, it is ultimately up to the seller to commit to the price that they are asking for. If the seller wants to list at $600K, and the agent thinks that it should be listed for $520K and cant convince the seller of this, then the home is going to be listed for $600K.

When we sole our first home, we had 2 offers on the table, one where a couple was trying to nickle and dime us by offering 20K under asking, and another couple who offered asking. (The couple who offered 20K obviously didnt get our house and they bid on another home a week later, their offer was accepted, however, it turned out they couldnt get financing)
We had a 3rd offer come in while we were waiting for the couple who offered asking price were trying to sell their home in Mississauga.

The funny thing was that our agent, while all this was going on, was getting a little nervous and came back to us stating that he thought we should lower the asking price......this didnt make senst to either myself of my wife as we had 3 offers and he was getting nervous......it just goes to show, that we should have listed with the original agent we met with who we felt extremely comfortable with, as opposed to using a refrence from a close friend....You get good and bad agents, just like any other profession, some are extremely capable of doing their job well, while others are bottom feeders.