What I’ve noticed where I live … is that some homeowners expect the same selling price as other similar sized dwellings despite the fact that they’ve NEVER remodeled anything. In the end , it is the market that decides what your abode is worth. A lot of realtors spare themselves the grief of trying to reason with sellers …especially those who are merely “testing the waters”.
Your right. My approach has always been education. And some people see the information differently. I don’t take listings when Sellers say I want to test the market.
Sold my house in 2021 in Barrie for 1.1. Moved to Bracebridge bought for 825. This house has taken a $60 hit, where as the Barrie home we sold has taken a $280, hit. Barrie got silly in 2021 and the out of town agents were everywhere putting GTA prices on every property. Seems those agents poisoned the local agent with their ideas, need to think small town once again people.
Watching from Vernon, BC. We just removed the subjects in a beautiful home that was a new build and listed for 18 months. Several prices drops and three different agents over its listing history. The market is very slow here. Great for buyers.
@propertytwins The seller was a local mortgage broker. The house landed om the market in 2022 at $2.2M (3950 finished sq ft, landscaping done) and ended up at just shy of $1.8M. A bit more than we had planned to spend, but it will work with my partner's business. I just sold my 2020 townhouse for $5K more than I paid 32 months ago (1600 sq feet, sold for $605K). I dropped the price from $659K eventually to $615K over 3 months. We got it sold. Most buyers here are sidelined by high interest rates and the need to sell their own homes, and sellers who are stubbornly holding to prices from the peak of the last cycle. Same story as Barrie it looks like (I left Alliston in 2018). Cheers, John.
one scenario if sellers do not lower their prices no one will be able to purchase these homes. opens up to corporations to buying real estate and then renting them out. Its happening in other industries Optical, dental........our greed may cause this. and in the future people will say there was a time when you could afford to have bought your own home
WHY are these Agents still Listing for Prices that are NOT attainable anymore ? I mean I 'get' you have an obligation to do your best for the client..... but there is no point starving either ? It's called Price discovery for a reason.... have the conversation with the client, get a commitment to a realistic Listing Price away from the crowd and get a transaction.... or STARVE !
We should be pricing it for the market today. We have data to provide what the price should be. And very little a using the data. They are looking at what is listed.
My grandmas neighbor on Nicholson drive , Barrie is selling for $899k. 3+(3) bedroom 2 bathroom. Insane. I remember when my grandparents' bought their house around 2012 for $260k . Nobodys gonna buy at these prices. Im sure they will come down $100-$200k within the year 😅 ie " priced to sell" its sad because four houses on the street for sale and south end is the most desirable .
Ask yourself how desperate sellers are keeping afloat...debt debt and more debt stop the bailouts and that will trigger real desperation =ing lower prices and major correction
They are not desperate is my point they have a need to sell but the government and bank has taken away the desperation part WITH AMORTIZATION EXTENSIONS...... Hence why i said take away the bailouts @propertytwins
My old landlord admitted to earning 800,000 a year in Barrie. There are people with a lot of money. But the average income for individuals in Barrie is 45,000 gross
Unless your in the top 5% making a HHI of $200k you can’t buy a detached in barrie. Sellers are greedy and holding out on lowering their prices. At this point, the only way prices head down significantly is a job loss recession. Just like what happened to Calgary in 2015
I love your descriptions of the market. "Horrifying", "Alarming", "Terrifying". Crikey, it sounds like you're living in Ukraine and the Russians are bombing your childrens hospitals.
Unless sellers are hugely lowering their prices, buyers won't buy. There is no interest anymore , period.
They need to lower their expectations.
What I’ve noticed where I live … is that some homeowners expect the same selling price as other similar sized dwellings despite the fact that they’ve NEVER remodeled anything. In the end , it is the market that decides what your abode is worth. A lot of realtors spare themselves the grief of trying to reason with sellers …especially those who are merely “testing the waters”.
Your right. My approach has always been education. And some people see the information differently. I don’t take listings when Sellers say I want to test the market.
They'll sell fine when the price drops by 50%
I don’t see that happening
@@propertytwins
Time will prove me to be correct
They will sell when it drops to 4x local average income.
Absent of investors, it has no choice.
Sold my house in 2021 in Barrie for 1.1. Moved to Bracebridge bought for 825. This house has taken a $60 hit, where as the Barrie home we sold has taken a $280, hit. Barrie got silly in 2021 and the out of town agents were everywhere putting GTA prices on every property. Seems those agents poisoned the local agent with their ideas, need to think small town once again people.
Absolutely. They are still attaching GTA prices.
@@propertytwins great honest channel. It's like discussing listing with your buddies not agents
Dundalk/Markdale were 1M$ towns
couples making 150k, houses are 800k, 1 kid will cut income by 50k for 5 years. people are going to be renting for a loooooong time.
Yes there will be a lot renting. Too bad the LTB is such a mess right now.
@@propertytwinsIs it hope for change? Only in Ontario this bs is happening. In Alberta bad tenant would be removed in 30 days!
Successful professional employed couples make that much and it's Gross not net.
Great video, very informative. Thanks Diane & Mark!
Thanks Kathy.
Watching from Vernon, BC. We just removed the subjects in a beautiful home that was a new build and listed for 18 months. Several prices drops and three different agents over its listing history.
The market is very slow here. Great for buyers.
Wonder what the Seller paid for it. Market is slow here as well.
@propertytwins The seller was a local mortgage broker. The house landed om the market in 2022 at $2.2M (3950 finished sq ft, landscaping done) and ended up at just shy of $1.8M. A bit more than we had planned to spend, but it will work with my partner's business.
I just sold my 2020 townhouse for $5K more than I paid 32 months ago (1600 sq feet, sold for $605K). I dropped the price from $659K eventually to $615K over 3 months. We got it sold.
Most buyers here are sidelined by high interest rates and the need to sell their own homes, and sellers who are stubbornly holding to prices from the peak of the last cycle.
Same story as Barrie it looks like (I left Alliston in 2018).
Cheers, John.
I love these videos!
Thanks for watching.
Anecdotally, who's buying guys? I know investors are down, but are first time buyers still able to keep up?
Hard to tell. I have had some new Buyers this year. Some investors selling a lot. Pricing is so wrong right now.
Nobody is buying anymore, except very few hungry sharks.
Lol first time home buyers? Are you high?
one scenario if sellers do not lower their prices no one will be able to purchase these homes. opens up to corporations to buying real estate and then renting them out. Its happening in other industries Optical, dental........our greed may cause this. and in the future people will say there was a time when you could afford to have bought your own home
I think they are saying it now. There are solutions.
WHY are these Agents still Listing for Prices that are NOT attainable anymore ?
I mean I 'get' you have an obligation to do your best for the client.....
but there is no point starving either ?
It's called Price discovery for a reason.... have the conversation with the client, get a commitment to a realistic Listing Price away from the crowd and get a transaction.... or STARVE !
We should be pricing it for the market today. We have data to provide what the price should be. And very little a using the data. They are looking at what is listed.
Pure greed, entitlement, speculation, not needing to actually sell it, strong delusion.
My grandmas neighbor on Nicholson drive , Barrie is selling for $899k. 3+(3) bedroom 2 bathroom. Insane. I remember when my grandparents' bought their house around 2012 for $260k . Nobodys gonna buy at these prices. Im sure they will come down $100-$200k within the year 😅 ie " priced to sell" its sad because four houses on the street for sale and south end is the most desirable .
It’s not coming down that much. One just sold on the street for 950k. Very dated inside.
@@propertytwins Wow ! I guess I will wait and see.
Ask yourself how desperate sellers are keeping afloat...debt debt and more debt stop the bailouts and that will trigger real desperation =ing lower prices and major correction
They are not desperate to sell. Days on market tells the story.
They are not desperate is my point they have a need to sell but the government and bank has taken away the desperation part WITH AMORTIZATION EXTENSIONS...... Hence why i said take away the bailouts @propertytwins
What is the comparison? Selling percentage etc. for condo VS regular homes?
Condo inventory is much lower then freehold. So the comparison would be much lower.
@@propertytwins s a comparison, % sold of total listing for each category,, example 100 listed condos, 10 sell, so that is 10%
Great video 👍👍👍
Thanks Chris
How many make?? $200,00 to 250,00 a Year ???
no one in Barrie!
90% of society according to these realtors
I know agents that make triple that in Barrie.
My old landlord admitted to earning 800,000 a year in Barrie. There are people with a lot of money. But the average income for individuals in Barrie is 45,000 gross
@@K7134-i8f KEEP in mind a lot of people are equity positive in their homes.
Is a townhouse build 2010 3rooms, 3bathrooms, unfinished full basemen worth 655k? Just wondering 🤔
It depends on location, size and what upgrades. It’s potentially in the range.
90 SOVEREIGN'S Gate Barrier Innishoe , 1295 sqft,
Personally I wouldn't pay more than $500,000 but lots of stupid buyers out there
Question, what is 117 Monique Cr. really worth, just listed at $824.900?
I think it’s high. It is not that big small floor plan. Home shows well. I feel price is too high.
@@propertytwins Thanks, owner was considering $799,000 guess agents bought listing
@@propertytwins Seller has a good offer after 4 days, I know the seller, she is happy with the offer, not firm yet
The economy is shaky right now, lots of unemployed right now so nobody can afford to buy anything
And there is no desire. Things are much worse in Toronto and the GTA. Tons of inventory. Don't expect a miracle in the Falls either.....
Not everyone is affected by
Realtors need to step up and list for what it’s worth
Yes they do
Oh boy, those were some grim listings. Sellers must be getting awful advice, my god.
Yes they are.
High prices, negative wage growth
Yes
"horrifying"? I think its about time. Prices need to come down by half in order to make the world sane again.
It is a crazy world.
Everyone's broke, that's the story.
Thats what everyone thinks. It is not the fact.
Unless your in the top 5% making a HHI of $200k you can’t buy a detached in barrie. Sellers are greedy and holding out on lowering their prices.
At this point, the only way prices head down significantly is a job loss recession. Just like what happened to Calgary in 2015
Rates
$1m latisha?????? Latisha hights????? Haaghaahhja ghahhaahahaa.. Marshall is a busy street. Best neighborhood in barrie though. Way over priced.
Way overpriced
I love your descriptions of the market. "Horrifying", "Alarming", "Terrifying". Crikey, it sounds like you're living in Ukraine and the Russians are bombing your childrens hospitals.
Yes