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Mortgage Broker News | 06 Aug 2015, 10:57 AM Agree 0
Recent numbers from one of the country’s largest real estate boards show a record amount of home sales for the month of July.
  • Samantha Gale, CMBA, MBABC | 06 Aug 2015, 03:23 PM Agree 0
    The statistics for real estate sales activity are more shocking in Vancouver with sales numbers up 30 per cent from last year and a 26 per cent drop in the number of listings. There is a clear demand for housing, yet home owners are reluctant to sell for fear of not being able to get back in the market.
  • Henry | 06 Aug 2015, 03:33 PM Agree 0
    The bubble is Just getting bigger and bigger.
    Eventually will burst one day.
  • Rob | 06 Aug 2015, 04:09 PM Agree 0
    We have away too much media and not enough news. It's sad that bad news sells better than good news.
    Do you want some good News? Check out what CMHC and Genworth has to say. Genworth says your home will be worth more than last year and will continue to increase over the next two years.
    Genworth also says, there is NO bubbly in the future, but there could be a correction of 5% to 15% in the major cities, but it will recover from the correction very quickly.
  • Appraiser | 06 Aug 2015, 06:56 PM Agree 0
    More bad news for the bears, who are absolutely gob-smacked by the overwhelming demand for real estate in the GTA.

    That's four months in a row of record sales on TREB!

    Oh, and by the way residential real estate sale prices are seasonal, so prices haven't "dropped." As noted in the article they are actually 13.3% higher year over year for the month.

    The silence of the bears is absolutely deafening.
  • Ron Butler | 06 Aug 2015, 09:20 PM Agree 0
    No one should really be excited about a 13.3% increase in home prices unless you are selling now and taking the money and living in Mexico. Any rational person can understand that compounding 13% property value increases year after year are NOT sustainable.
  • Joey | 07 Aug 2015, 02:58 AM Agree 0
    Just like a SFH hit $1 million dollars for the first time ever this year but it was over a million in 2014 for a month right appraiser.... You can spin statistics anyway you want.
    Should be interesting to see how Calgary affects Toronto once EI starts to run out.
  • okay | 07 Aug 2015, 03:23 PM Agree 0
    I am sure they will do anything to protect both Boubbleronto and Bubblecouver real estate markets. That's the remaining economy. Every citizen is either real estate agent or mortgage broker or or appraiser.
  • Silvia | 07 Aug 2015, 03:59 PM Agree 0
    Sorry, but I read it little differently. The average sale price of GTA detached home has fallen below $1 million. I think this is for the first time since January and it means that housing sales last month was at the lowest level in four months on average. Newspaper sources also report that home values declined in market by about $140,000 on average since May on homes that were supposedly selling over $1 million, and that despite the BoC's recent rate cut that had no immediate effect, like the one from January. Nevertheless I am positive that our institutions will do everything in their power to protect real estate in both our highly demand cities, as it seems that it is the last stronghold of our economy. Am I missing something?
  • Appraiser | 07 Aug 2015, 09:45 PM Agree 0
    Wow Silvia, why don't you just quote Garth Turners latest advertorial / blog post chapter and verse? Do you actually believe that the T.O. real estate market is actually is dropping? Four months in a row of all-time monthly sale records - and well on the way to an all-time sales record for one year.

    What a joke!

    If you don't understand seasonality when it comes to housing stats, then I can't help you. Every year it's exactly the same routine with Garth Turner. He knows full well that the highest average price annually is in the spring, then it drops slightly thereafter, only to reach another all-time high the following spring. That's right. Every. Single Year.

    Only proves that you can fool some of the people all of the time. Turner feasts on the naive and ill-informed.

    Hilarious!

    P.S. yeah, yeah I know you weren't quoting Turner, you just came up with the EXACT same numbers, presentation and conclusion on your own.

    HAHAHAHA!
  • Silvia | 07 Aug 2015, 10:13 PM Agree 0
    Appraiser, try this http://business.financialpost.com/personal-finance/mortgages-real-estate/toronto-detached-home-prices-drop-below-1-million-but-sales-approaching-record. It comes with graphs and pictures too.
  • Silvia | 07 Aug 2015, 11:08 PM Agree 0
    You got me now, appraiser. But try this one instead of acting like an old hysterical woman. It comes with pictures and graphs in case reading gives you a challenge.

    http://business.financialpost.com/personal-finance/mortgages-real-estate/toronto-detached-home-prices-drop-below-1-million-but-sales-approaching-record
  • Silvia | 07 Aug 2015, 11:09 PM Agree 0
    You got me now appraiser. Try this one instead of acting like an old hysterical woman. It comes with pictures and graphs in case reading gives you a challenge.

    http://business.financialpost.com/personal-finance/mortgages-real-estate/toronto-detached-home-prices-drop-below-1-million-but-sales-approaching-record
  • Silvia | 11 Aug 2015, 10:55 PM Agree 0
    Hey, Appraiser, did you read Garth Turner's post from today, August 11? Is it that you are bitch-smacked now. . . .hiding? I guess condo purchase wasn't the smartest think for you to do after all.
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