Leyla needs to face the reality that regardless of what any 'realtor' indicates.... the majority of prospective Buyers 1.) can't 'qualify' for a Mortgage at her asking Price given current interest rates ? and 2.) any Bank appraisal for Mortgage purposes would quite likely fall FAR short of her asking Price as well.... and further limiting prospective Buyer financing ? Long story short.... Leyla should get a jump on the coming THOUSANDS that will be Selling at a Loss as Prices dwindle into recession and DUMP that condo ASAP !
If you’re a seller in a market trending downwards, the key is to not follow the market down. Price it right today and get it done. And if you’re a buyer in a market that’s trending up, every time you lose a bidding war, the next one that comes on the market will cost you more so, again, better to just get it done.
the tide turned, now it's a race to the bottom. If you want to sell, the longer you wait, the longer it stays on the market, the less you'll get for the unit. With China real estate collapse, Chinese international RE investors are rushing to sell their investment properties in Canada, exacerbating the problem.
@@roseoverdose6451 maybe you're right, but there's a theory that the worldwide RE bubbles that occurred in many countries like Canada and Australia in the last 15 years, might have been spurred and fueled by extra wealth flowing out of China due to their own massive RE bubble. Those new Chinese international investors would have been enough to tip the balance of the usually stable and predictable local markets. This explosion of wealth in China was once in a lifetime. The latest stats state that 33% of homes are owned by investors in Canada, the vast majority started to invest because of the amazing returns. The investors also tipping the balance of what used to be stable local markets. This number will go down significantly if there's a major downturn and possibly never come back to this level. Japan RE market crashed starting in the early 90's and hasn't fully recovered yet. So who knows right? Maybe we'll see another run up in price in a few years, a decade, or two, or not.
@@quixomegainvalid argument on its own. Stocks are equities and go up and down all the time. Are you going to buy and sell all the time? Good luck being a day-trader.
Realtors don't care whether you sell or buy first as long an the transactions happen at some point and they get their commission. Buyers and sellers should think carefully before doing any transaction!
I just heard today that Canada's total mortgage debt is higher than the GDP of the country. That is so irresponsible I was astounded. How does any sane country allow that to happen? The greed displayed by every level of Government, Bank of Canada, CMHC. the Banks, and the people who paid silly prices is stunning. Good Luck Canada...
The government has dome so much to reduce or support demand side in the form of stress test and loan to value ratio etc. Not much is done on the supply side. You seem to believe that the price is a function of demand and supply, so why not increase supply along with curtailing demand.
these are not investors, they are speculators sucking bloods of many hard working people. they deserve to be in this position.
Leyla needs to face the reality that regardless of what any 'realtor' indicates.... the majority of prospective Buyers 1.) can't 'qualify' for a Mortgage at her asking Price given current interest rates ? and 2.) any Bank appraisal for Mortgage purposes would quite likely fall FAR short of her asking Price as well.... and further limiting prospective Buyer financing ?
Long story short.... Leyla should get a jump on the coming THOUSANDS that will be Selling at a Loss as Prices dwindle into recession and DUMP that condo ASAP !
If you’re a seller in a market trending downwards, the key is to not follow the market down. Price it right today and get it done. And if you’re a buyer in a market that’s trending up, every time you lose a bidding war, the next one that comes on the market will cost you more so, again, better to just get it done.
I see! It's a good time to both buy and sell! Thank you.
@@MMalke LOL
Let me guess, you're a realtor? LOL!
John looks higher than the market! Haha.
Excellent question and answers by him! Great video
Hey, John. I love your new hair cut. Really suits you well. Keep it fancy;)
the tide turned, now it's a race to the bottom.
If you want to sell, the longer you wait, the longer it stays on the market, the less you'll get for the unit.
With China real estate collapse, Chinese international RE investors are rushing to sell their investment properties in Canada, exacerbating the problem.
unless you hold it for 5-10 years when its again worth more.
@@roseoverdose6451 maybe you're right,
but there's a theory that the worldwide RE bubbles that occurred in many countries like Canada and Australia in the last 15 years, might have been spurred and fueled by extra wealth flowing out of China due to their own massive RE bubble.
Those new Chinese international investors would have been enough to tip the balance of the usually stable and predictable local markets.
This explosion of wealth in China was once in a lifetime.
The latest stats state that 33% of homes are owned by investors in Canada, the vast majority started to invest because of the amazing returns. The investors also tipping the balance of what used to be stable local markets.
This number will go down significantly if there's a major downturn and possibly never come back to this level.
Japan RE market crashed starting in the early 90's and hasn't fully recovered yet.
So who knows right?
Maybe we'll see another run up in price in a few years, a decade, or two, or not.
John looks higher than the market! Haha
Any with little to no equity in investment property should sell now before it's to late
Even if you have equity, why would you want to keep an asset that's crashing?
@@quixomegainvalid argument on its own. Stocks are equities and go up and down all the time. Are you going to buy and sell all the time? Good luck being a day-trader.
@@quixomegamine are cash flowing 12k/month and will most likely be worth much more when i sell them in 15 or so years. thats why.
Realtors don't care whether you sell or buy first as long an the transactions happen at some point and they get their commission. Buyers and sellers should think carefully before doing any transaction!
I just heard today that Canada's total mortgage debt is higher than the GDP of the country.
That is so irresponsible I was astounded. How does any sane country allow that to happen? The greed displayed by every level of Government, Bank of Canada, CMHC. the Banks, and the people who paid silly prices is stunning.
Good Luck Canada...
The government has dome so much to reduce or support demand side in the form of stress test and loan to value ratio etc. Not much is done on the supply side. You seem to believe that the price is a function of demand and supply, so why not increase supply along with curtailing demand.
Sell first and then buy always!
The assignment market maybe dead. If that is the case the pre con buyers will get their asses kicked in court for not being able to close!
donate ur condo lol
Good Will will take it - maybe!
Prices will go back up in 2 years
I feel by 2026 we will be at or near the highs in 2021.
@@ilikeshroomgals Yes,
Not really looking at government investing 60 billion for rental across-condo market will collapse
@@annienguyen5025 the way the government works is veeeeery slow so people can't wait but have to buy at some point
@@annienguyen5025yea, 60 billion should provide about 100 or so government built condos
honestly get a hobby