Selling Today Is A Big Challenge (Peel Region Real Estate Market Update)
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- Опубліковано 27 чер 2024
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In this episode we take a look at the current Brampton, Mississauga, Ajax, Whitby, Pickering Real Estate home prices and market trends for week ending June 19, 2024. We also discuss why selling today has become a big challenge. You never know the situation of those you're competing with.
This video will focus specifically on Brampton, Mississauga, Ajax, Whitby, Pickering but be sure to SUBSCRIBE for more reports on other areas!
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Santo Sessa & Daniel Sessa
Re/Max Premier
(647)560-7778
santo@teamsessa.ca
*This video, nor any of the other videos on the Team Sessa Real Estate UA-cam channel, does not constitute legal or financial advice. This is strictly intended for educational and entertainment purposes only.
Funny how sellers thought the home equity is locked in waiting for them to be ready😅.....the only thing equity related you get to keep mortgage borrowers is the equity debt you took out to live off recklessly invest and pay the mortgage with....enjoy the 65k suv you can't afford still.....
What happened? No more fraudulent mortgages and massive immigration?
Thanks
As a lifetime renter who is now paying around 3k/m rent for not very much at all + Power + Parking. I say Good. Sorry, not sorry on this rediculous housing market.
400k, 300 square feet 2bdr, no closets. Of course, you can't live in this. But, you can rent it to someone desperate, which plenty are. Not anymore apparently. I've been calling this insanity since the 90's. Now a bunch of people will be losing their investments and I say again, sorry, not sorry.
There's no guarantee on any investment and same applies to housing. If you got a house to live in the you can afford, YOU HAVE NO ISSUE. If you SPECULATED them investment comes with this exact market risk, bear them instead of trying selling them to others.
A lot of mfs stuck holding the bag.
Maybe some sellers are fed up holding assets that are underperforming stocks or gold
Bubble crash sell 😅
I'm just here reminiscing on the good old days arguing with the housing market bulls. Miss those guys. Last i heard they were saying wait till spring market. Somehow I can't remember what happened in spring. I guess we just need to wait till rate cut. Oops that happened already. I guess we are waiting on the fall market now. Or maybe next year right. When all the renewals are coming up😅. I guess everyone is learning some common sense economics. Good luck out there everyone
The '5 year term'..gift that keeps on giving..ofcourse mainly to real-estate agents, banks, lawyers..basically every blood sucking industry gets a cut, at the expense of seller and buyers, wake-up people, and fight for change.
“But real estate only goes up!” 😂 Most home owners have no idea how real estate appreciation works. Even fewer realize we have had four decades of declining interest rates pushing prices higher and now the party is over.
Hi! Thank you for the info as always. I believe Durham region usually has that 60%+ at or above list prices because the listed price is put at 699k and 799k to attract people. Obviously, the sold prices will be higher than the aforementioned; at least for now😊
Exactly. Shouldn't even be a stat.
Yep
Selling at psychopathic-disconnected-from-reality prices will be more difficult for sure.
Halton region is part of the GTA can you please do a Condo Market Update for Oakville
Housing market is cyclical always was always will be , now we are in the phase of realization ( house prices are insane I won’t buy at this price ) people step out of the brain fog . More phases coming buckle up
The 2,5% increase for our investors/landlords is a joke. Wondering why our investors/landlords are selling? Where the tenants will go? To the hotels? We can't accommodate all the lower income tenants in hotels. You don't help the investors, it's the end of the game. For everyone. Nobody will borrow money. Less taxes. Less people to renovate their investments. Less jobs. More and more will sell and invest in GIC or other things, not in real estate. Long term thinking is the best. That why the prices will lower a little bit. Supply and Demand. Always.
I guess you can look at things from that angle.
In my opinion, an "investor" who can't take a loss, doesn't fall under the category Investor. So, what are we going to do now? Let it all live out the cycle as it should?
OR we all pay for the stupidity and the greed of the "investors", on the account of everyone else, just to bail THEM out, and let THEM keep artificially gouging everyone else, under the threat that any other approach would sink the economy?
You know what: let it all crash and burn, like in a war. At least that way it will be much quicker, and things will recoil back again as they should.
Oh, one more thing. I do own a home. To LIVE IN. You know, a classic mindset. So far no one has managed to lure me into this kind of land lordship "investment", since I know a thing or two about the devastating potential of an enormous personal debt one basically cannot service unless stars are perfectly aligned all the time.
The prices will decline again 20 % at least
At least 😂😂😂
@@user-mu1in6el5p it’s coming!!!! Usually if someone get 400k appreciation to housing eventually will go down!!! Actually who is buying, the people who works. If the salaries not up nor the business doing good!!! Plus the banks refuse lending us money above certain amount (stress test) then no way we could buy or homes to be sold , ( I am considered one of the highest paid job) no debt yet the amount I could borrow barely 500k while 2years back I could get 1million !!!!! The rates will not go back down significantly at anytime soon
Maybe it's the baby boomer widow who is done with the 5 bdr house and has no mortgage on the house.
It’s just so many for sale listing now , make selling very hard. But it dries up the rental market, that is why put in rental will be faster. This will drives up rental, so rental returns will be up a bit probably will attract back investors. People need place to live whether own or rent. Either interest down or rental up or both will be in favour to landlord
Data is great. But the talk just sounds like an agent being miffed that sellers are not dropping price to meet HIS objective of earning commission. The asset being sold is the sellers, not the agents.... so if the seller wants a particular price, and is prepared for it to sit if its not sold, then so be it.
My point Steve has nothing to do with commission.
Just hold on there are not enough houses distress sellers are always fu..ed
Seems like viewers of this channel are those mostly stuck in their parent's basement. They sound frustrated as their hopes of buying a house in peel/ gta fade away with home prices taking a minor dip than they had hoped for. The only thing "50% 75% 90% crashing" is their hope to actually buy a home. 😂😂😂
Great video as always. Very crisp, structured. Less opinions n more data driven insights.
Im sitting on 9 .7 million on cash and all taxes are paid and Im watching this channel and i think the market has another 20 percent to correct and then stay flat for the rest of the decade and i also think the SP 500 will correct 20 percent as well which will put a further damper on the real estate market. I have real money and ive watched this movie before it will end the same way it always does but my fear is this time it could be worse because its been 25 years since we had a real correction in canada.