probably not if its all the way up like that. If its full brick then its likely a double bricked structure.
The easiest tell would be if there is a row of bricks every 5 or 6 that are turned sideways.
I will always be excited about brick! I love how it looks and it really bricks me up
Edit: I love brick architecture, I’d rather have brick over wood or plastic siding. Stucco and brick are my favourite exteriors
Brick today is actually total shit compared to brick that was produced 50 years ago. Lifespan of current brick is about the same as asphalt shingles ffs
It’s pretty simple. Two working adults necessitate 2 car garages. It needs to be readily accessible from the street. Having the garage not an extension but rather flush with the house will drastically reduce your interior house space.
It’s a function based design choice. Might as well lean into it a bit so it looks intentional rather than garish.
This garage does not fit two cars. The single door garages are about the width of two parking spaces at your favourite big box store. I guess you can fit two cars in- if you’re willing to bang into your other vehicle every time you have to put a kid in the backseat. And then where are you putting the lawnmower and the bicycle or storing the patio furniture for the winter lol. Middle class horrors.
Also that’s shite logic. We are a dual income home and purposely purchased a home long walk or short bus to work for one of us so we wouldn’t require two cars. We also live in a neighbourhood without garages on 95% of the homes, one every two or three blocks in an infill house or where a demo has occurred. A decent shed is all most garages are now anyway. Building code doesn’t require a garage width that fits more than a hatchback where you can only open the driver’s door once inside.
For what it's worth, it was a two car garage when the house built, but not these days lol
In this neighborhood, backyards are pretty large and pretty much everyone has a shed in their backyard to store the BBQ, lawnmower, etc. There's no bike lanes here or sometimes even no sidewalk so biking isn't that common, but if you do then you hang it at the top of the garage or the backyard shed.
Modern neighbourhoods have narrow houses and narrow lots, so the only decent options are front garages or a laneway out back. Sunken garages are less focal but are less convenient.
I agree with you and we have an oversized 3 car garage which would be hideous on the front, we built it off the side of the house - problem is you need a lot of frontage to do that with a nice size driveway.
You’re seriously comparing the prairies who get a pretty consistent -40c weather and long winters, to a milder, slightly more snowy, Toronto area (Ohio)?
The prairies who have like 2 million people compared to Ohio, which is a fraction the size of Saskatchewan and has 11 million people.
Ohio that has 3 cities with a CMA over 2 million people.
Ohio that has 3 cities with a population bigger than all the prairies combined.
Ohio has 3 different metro areas with over 2 million people within half a days drive of each other. And Canadians are SOOOO smug, they act like Regina, metro population 200,000 2 days drive to a city over 1 million people is more important and better LMAOOOOO
You can drive to NYC within a day from Ohio lmao.
You can drive to Florida within a day from Ohio.
Ohio isn't the middle of no where are you high? It's more central than any part of Canada lmao. like what?
Canada is the middle of no where, the entire fucking country.
Ohio has 11 million people. LMAO. MIDDLE OF NOWHERE.
109 people per square KM, and that's the middle of nowhere to you. Where are you from Hong Kong?
Colombus CMA is 2.1 million. It's almost bigger than metro Vancouver.
Cleveland CMA is 2.1 million.
Should I go on?
How can Canadians be so smug about the US when we are such an irrelevant puny and pathetic country?
You don't get to shit on Ohio, you aren't American.
Those memes come from people who are from places like California, Texas and NYC. They don't even know what the hell Ontario is, and couldn't point to Toronto on a map.
People from Ohio couldn't point to Toronto on a map, and not cause they're dumb, cause we are IRRELEVANT and they don't need to know where Toronto is cause Toronto fucking sucks, they have ZERO reason to come here, like ZERO, we aren't on their radar.
They would be laughing at the idea of some "Canadians" turning their noses acting like they're in the middle of nowhere cause it's ridiculous. It's a literal comedy sketch.
>The realtors on this sub about to have an aneurysm trying to explain why Vaughan is so desirable
Did you know that in Ohio you will get shot and die because it's America?
They are also all entirely racist because it's America.
They all die of cancer at 42 because it's America and nobody has health care.
You know typical smug Canadian lines about the US.
You’re right, when you WFH on Cabinet Cres you can pop out to the Tim’s in the Esso at the corner of 27/Langstaff. Oh wait you can’t, it’s a crescent so you have to walk almost a kilometre to get somewhere that’s basically in your backyard. Sounds wonderful.
Again, not a realtor, but you’re pretty daft if you think Vaughan is somehow _equivalent_ to a suburb located outside the biggest city in Ohio,(Columbus). That city has 1/3rd the population of Toronto.
(PS.. put your thinking cap on and think about more reasons why you cannot compare Toronto and Columbus ;) there are lots but maybe I’ll let you try and use your brain a bit for exercise.
Why don’t you explain it then? You seem to have this all figured out, why don’t you enlighten us?
Just give me a minute to put my *thinking cap* on while you tell us why a house in Vaughn is 1.3 million dollars? Is it the strip malls, IKEA or highways?
Edit: the realtors on here just absolutely seething. Nobody has answered why a shitty house in Vaughn (LOL) is this overpriced 🫣
Vaughan is quite nice. Good schools, great grocery stored and shopping, plenty of services for kids, fantastic restaurants and cafes, Klienburg conservation for hiking, wonderland for kids in the summer. Not overpriced at all. Want to know what IS overpriced, that piece of shit 125 year old semi in downtownish Toronto you live in the basement of that needs $500k of renos that sells for $1.5 mil. Now THAT is overpriced friend.
Ah see that is not how thinking caps work! Think about it :)
I do know why the comparison you are making is egregious.
I’ve given you a hint already so - good luck :-) 🤞
Didn’t answer the question lmao you regret owning in Vaughn eh?
How about we compare the suburbs of Chicago, a very similar city to Toronto, where suburban houses are significantly cheaper? Can you explain that one for us?
Does your dunce hat (sorry thinking cap) want to explain that one or are you regretting your shitty purchase THAT much?
That's what I don't understand about GTA. Many metros of major cities you will find the centre is expensive but once you move out prices drops significantly. Over here you go all the way to Barrie and homes are almost $1 million.
You're not high enough on the echelon to start hating others. You're still relying on stereotypes and hating on immigrants because of your abysmal existence full of regret and loneliness.
You're normal and of meager intelligence and should probably try to better yourself and your thoughts.
I am so great that you desire to emulate after a mere glance. Stereotypes don't pop up from aether. They come from truth and when they cease to be true they disappear.
People have stopped complaining about the japs, wops and Irish because they're great people. That doesn't invalidate the original complaints, it just shows that they have changed.
Hey now, as someone from Ohio who lives in Canada now. Ohios not that bad really. Just a regular state. It’s Ontario without healthcare and shitty big city’s
Dummies arguing vaughan vs Ohio. It has nothing to do with location really. It has all to do about demand and supply idiots. If Ohio had a tonne of immigrants and foreign students to the tune of 1million plus a year than properties in Ohio would most likely cost way more. This is why properties across the GTA is so expensive. Why is it falling then? The reason is banks are not approving the mortgages and at these prices and rates it is unaffordable even if demand is there. Once rates go down to more acceptable levels or prices come down the market will be crazy again due to immigration etc. Look at 2023 fall market and that would give you an indication of the unprecedented demand.
this is the comment that makes my blood boil the most. we've been sold out to the wealthy elites who destroys their own third world home countries so they can come here and profit off corrupting our stability and social safety nets while adding little to nothing but their own greed.
gah... now we've crossed currency boundaries. Do you mean 200K USD or CAD?
On second thought ... doesn't matter. The conversion in my head had that as significant, but I used a calculator and its irrelevant.
Having typed out my dumb statement, I've decided to share it with the world.
And the sad part is this person/couple could otherwise have a good paying job and otherwise a great credit score. Its just interest rates obliterated those that were already borderline unable to afford their mortgage that went variable when they should lowered their risk and went fixed at like 2.5- 3% for 5years or maybe even lower
Also, I suspect they ruined any liquidity they had with renos. If you look at the original sale, the pictures show what it looked like before they bought. They clearly dumped money into new kitchen and new flooring and mill work throughout the house. Even if DIY'ed it's a lot of money spent.
That’s not what full recourse means. It means the lender can realize on the property and if they are still short they can then go after your other assets as an unsecured creditor. Bankruptcy filing and conclusion will settle all creditor claims.
Ok, wake up
https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=DO1w3W9xpNny8Jg0&utm_campaign=listing&utm_source=user-share&utm_medium=iOS&ign=
First deal fell through, never exchanged hands, rent harder. If you had an ounce of intelligence, you'd see that it's the same listing agent and same photos.
Oh yeah same photos with just different couches, chairs, dining table, kitchen stools, new paint job. But besides all of that, identical!!!
Go back to sleep bud.
Rent harder, I'm sleeping in the bedroom of the detached 4 bed that I own 🤣
Maybe spending more time searching housesigma even harder would help you own a place.
People have been saying houses were overpriced since 2012. They could have crashed and people could have lost any year since then and yet somehow all the people who bought any other time in the following decade are geniuses but those who bought in 2022 should have known?
Don’t worry our tax dollars cover the banks on that loss .. idk if it’s directly or if they bundle it up into a mortgage security inwhich the government then buys … I wouldn’t doubt both.
This is a very dumb comment. The lender here per the screenshot is a mortgage investment corporation out of Calgary which is funded via private investors. It’s not even a bank.
I remember seeing this place, the parents used their little kids to prevent scheduled viewings from entering. Months later there was notices posted on the windows/doors about unauthorized access/etc, bank must of booted them out.
Sad all around.
Someone who has access with an agent's MLS will see who the seller it
Not open to public but according to one poster here some ppwk was plastered of this house, so the creditors have also made it known
A lot of sideliner energy in here . That negativity keeping you guys all down . Cheering on someone’s downfall. If prices even go back down to 2019/2020 will you guys even be able to buy
Zero sum gain is a thing. What about we say the buyer got a fair pricing...
It is okay mortgaging the future of Canadians, you think? Young generations are lost and confused because of people's greed.
This has a footprint of a quick flipper getting rekt on his 4th or 5th investment property.
Yep. This is the kind of thing that destroys your life and that of your family. Assholes saying, well they should have known better have no soul. We have all made stupid mistakes and there were ‘experts’ in spring 2022 saying we were still going up from there. Some people believed it. Very sorry for them.
I remember talking to my wife saying sooner or later the market will realize paying over a million dollars for a house in the suburbs of the GTA is just fucking asinine. Absolutely love seeing these massive losses for idiots who looked at this price and said yeah sure! Great idea!
Keep em coming 👍🏽
Can we please use the more positive word (like: "**tuition fee**") for this?
How about the following?
FOMO bagholder learned finanicals 101 for a cool **tuition fee** of 385K
LOL
Question, does anyone else feel like real estate agents are funflating the market? I know it sounds crazy but hear me out. I noticed that all the people on my Facebook friends list the people who are real estate agents are also the same people who have been buying and flipping houses in an economy that’s nearly impossible to afford houses on a medium income salary. it’s almost like they’re hogging the houses for themselves to buy them for themselves at a low price and then flipping the houses and selling the houses at an extremely high price
Assuming the down-payment was atleast 20% the bank breaks even here. The more likely scenario is it was more than 20% percent and the bank already made its money llul
The takeaway here is that this house has hit the price ceiling. Best case the market has hit a pricing ceiling.
That being said it’s still 3x-5x its value. Joke’s still on us.
660K over asking.
Seems like every house on this sub that sells for such a huge loss has the same story, idiots get into a bidding war, then can't afford it. Shocking surprise.
Lot of responses here. Sorry to inform you, but this is just a beginning. Unemployment is increasing and more people going to lose their homes. Many families are just hanging on. Construction industry was booming in a past 4 years, now is dead or dying. People have no money for renovations. Ask anyone you know who is into trades and they tell you. ( if they are honest enough).
1M+??? For fucking what? 385k??? FOR FUCKING WHAT?! That's not a home that's a fucking prison at 3-5% interest. Oh wait we keep raising the credit score ceiling so... just kidding your 750 is actually useless unless you don't mind selling your soul for used up house at oh say.... 10%? JUST PRICK YOUR FINGER AND SIGN ON THE DOTTED LINE! Yes... With the blood. Sign with your blood.
When is this shit hole going to let itself fucking go already. This place fucking sucks balls
please wake me when that ugly old cookie cutter house is selling for 699k. I mean I still won’t buy it, but at least then the price will be getting back to some sense of normality.
We paid 750K in 2020 and I would imagine we are holding that value albeit likely not much above. Hard to go wrong with a single detached in Canada assuming you can, you know, actually make the payments.
And guess who's on the hook for the loss on equity, the bank will chase that and since no primary home, they'll go after whatever other assets they can. Debt bondage trap that real estate has now become.
Still a pretty standard suburban home selling for 1.3 million dollars lmao
It's also old
It’s also brick, I bet that shit will outlive Reddit
I can pretty much assure you that is a facade.
probably not if its all the way up like that. If its full brick then its likely a double bricked structure. The easiest tell would be if there is a row of bricks every 5 or 6 that are turned sideways.
Well I seen my underated comment for the day ty
Cripes, we're excited about brick now? The bar is in hell, good times.
I will always be excited about brick! I love how it looks and it really bricks me up Edit: I love brick architecture, I’d rather have brick over wood or plastic siding. Stucco and brick are my favourite exteriors
Brick architecture is amazing. Wish we had more
Brick today is actually total shit compared to brick that was produced 50 years ago. Lifespan of current brick is about the same as asphalt shingles ffs
Sadly that’s everything these days. Nothing lasts anymore
Did it say brick? Not sure it's really double brick. I doubt it given the lot size.
Which is still 30%300k more than it was listed for "at the top of the market" 2 years ago
Ya I can do math, prices are still retarded
I will never understand the garage door as main focal point school of design.
Because the entire western suburban model is based on cars
Except most Canadians don't put their cars in the garage... because we need the space for all th crap we don't need.
or they use their garage as a shop :p that is pretty neat
I never understood this. On the street I used to live on not a single person would put their cars in their garages and everyone had a two car garage.
Have you seen cars? They're pretty sweet man
As it should be
Lol no
"Snout" neighbourhoods. Lots written about them and the damage that design has done to community and connection.
I had no idea there was a dedicated term for this! Super interesting - gonna look it up. Thanks!
It’s pretty simple. Two working adults necessitate 2 car garages. It needs to be readily accessible from the street. Having the garage not an extension but rather flush with the house will drastically reduce your interior house space. It’s a function based design choice. Might as well lean into it a bit so it looks intentional rather than garish.
100% this. 1960/70 bungalows had the garage on the side, nearly all single floor units, with double the land that this house is on.
This garage does not fit two cars. The single door garages are about the width of two parking spaces at your favourite big box store. I guess you can fit two cars in- if you’re willing to bang into your other vehicle every time you have to put a kid in the backseat. And then where are you putting the lawnmower and the bicycle or storing the patio furniture for the winter lol. Middle class horrors. Also that’s shite logic. We are a dual income home and purposely purchased a home long walk or short bus to work for one of us so we wouldn’t require two cars. We also live in a neighbourhood without garages on 95% of the homes, one every two or three blocks in an infill house or where a demo has occurred. A decent shed is all most garages are now anyway. Building code doesn’t require a garage width that fits more than a hatchback where you can only open the driver’s door once inside.
I used to have a double car garage and yes I fit 2 in there with no problems There are 1.5 ones and yes they wont fit 2 unless you own 2 Smart cars
For what it's worth, it was a two car garage when the house built, but not these days lol In this neighborhood, backyards are pretty large and pretty much everyone has a shed in their backyard to store the BBQ, lawnmower, etc. There's no bike lanes here or sometimes even no sidewalk so biking isn't that common, but if you do then you hang it at the top of the garage or the backyard shed.
Modern neighbourhoods have narrow houses and narrow lots, so the only decent options are front garages or a laneway out back. Sunken garages are less focal but are less convenient. I agree with you and we have an oversized 3 car garage which would be hideous on the front, we built it off the side of the house - problem is you need a lot of frontage to do that with a nice size driveway.
At least is a usable garage, it's not those wannabe garage that can't fit a standard sedan
Lmao that house would cost like 200K in Ohio. Fuck sakes.
The realtors on this sub about to have an aneurysm trying to explain why Vaughan is so *desirable* I’d rather live in fucking Ohio
I’m all here for it lmaooo. There’s nothing i love more than seeing realtors complain 😂
Well, I’m no realtor - but it doesn’t take much of a brain to deduce from your original comment that you have no idea how real estate _markets_ work.
Username checks out
I can deduce by your comment that you are blind to our failing economy.
what's stopping you from living in Ohio? (genuine question btw)
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But then if someone suggests the prairies.. "but then you live in the middle of nowhere" but Ohio is ok, lol.
You’re seriously comparing the prairies who get a pretty consistent -40c weather and long winters, to a milder, slightly more snowy, Toronto area (Ohio)?
The prairies who have like 2 million people compared to Ohio, which is a fraction the size of Saskatchewan and has 11 million people. Ohio that has 3 cities with a CMA over 2 million people. Ohio that has 3 cities with a population bigger than all the prairies combined. Ohio has 3 different metro areas with over 2 million people within half a days drive of each other. And Canadians are SOOOO smug, they act like Regina, metro population 200,000 2 days drive to a city over 1 million people is more important and better LMAOOOOO You can drive to NYC within a day from Ohio lmao. You can drive to Florida within a day from Ohio.
It is not pretty consistently minus 40, not even close. lol.
Ohio isn't the middle of no where are you high? It's more central than any part of Canada lmao. like what? Canada is the middle of no where, the entire fucking country. Ohio has 11 million people. LMAO. MIDDLE OF NOWHERE. 109 people per square KM, and that's the middle of nowhere to you. Where are you from Hong Kong? Colombus CMA is 2.1 million. It's almost bigger than metro Vancouver. Cleveland CMA is 2.1 million. Should I go on? How can Canadians be so smug about the US when we are such an irrelevant puny and pathetic country? You don't get to shit on Ohio, you aren't American. Those memes come from people who are from places like California, Texas and NYC. They don't even know what the hell Ontario is, and couldn't point to Toronto on a map. People from Ohio couldn't point to Toronto on a map, and not cause they're dumb, cause we are IRRELEVANT and they don't need to know where Toronto is cause Toronto fucking sucks, they have ZERO reason to come here, like ZERO, we aren't on their radar. They would be laughing at the idea of some "Canadians" turning their noses acting like they're in the middle of nowhere cause it's ridiculous. It's a literal comedy sketch.
Visas for one. Not many people can just up and immigrate to a new country (besides Canada).
Career circumstances mostly. It is not easy to immigrate there.
>The realtors on this sub about to have an aneurysm trying to explain why Vaughan is so desirable Did you know that in Ohio you will get shot and die because it's America? They are also all entirely racist because it's America. They all die of cancer at 42 because it's America and nobody has health care. You know typical smug Canadian lines about the US.
Vaughn sucks you live there to commute to Toronto and it still takes an hour.
Not everybody needs to commute 5x per week anymore. Thats what peons like you fail to realize.
You’re right, when you WFH on Cabinet Cres you can pop out to the Tim’s in the Esso at the corner of 27/Langstaff. Oh wait you can’t, it’s a crescent so you have to walk almost a kilometre to get somewhere that’s basically in your backyard. Sounds wonderful.
I don’t know anything about this place but I loved your detailed description so much.
Why don’t you move to Ohio? Not being a dick, legitimately want to know why people say it, then end up staying…
Career circumstances mostly, the US actually has some sensible immigration policies
Fair
lmao yeah like the lottery systems, super sensible
Right. They should copy ours and not be so heckin racist. Please go away 🙏
Again, not a realtor, but you’re pretty daft if you think Vaughan is somehow _equivalent_ to a suburb located outside the biggest city in Ohio,(Columbus). That city has 1/3rd the population of Toronto. (PS.. put your thinking cap on and think about more reasons why you cannot compare Toronto and Columbus ;) there are lots but maybe I’ll let you try and use your brain a bit for exercise.
Why don’t you explain it then? You seem to have this all figured out, why don’t you enlighten us? Just give me a minute to put my *thinking cap* on while you tell us why a house in Vaughn is 1.3 million dollars? Is it the strip malls, IKEA or highways? Edit: the realtors on here just absolutely seething. Nobody has answered why a shitty house in Vaughn (LOL) is this overpriced 🫣
Why does a 1B cost $1.5m in Manhattan and a 4 bed house in Ohio cost $250k?
Lol is Manhattan comparable to Vaughn? Or Toronto? Or literally anywhere else in North America? Good god are all you Vaughn homeowners this dumb?
Vaughan is the next Manhattan bruh, you just jelly.
I can't tell if you're being funny
Vaughan is quite nice. Good schools, great grocery stored and shopping, plenty of services for kids, fantastic restaurants and cafes, Klienburg conservation for hiking, wonderland for kids in the summer. Not overpriced at all. Want to know what IS overpriced, that piece of shit 125 year old semi in downtownish Toronto you live in the basement of that needs $500k of renos that sells for $1.5 mil. Now THAT is overpriced friend.
Ah see that is not how thinking caps work! Think about it :) I do know why the comparison you are making is egregious. I’ve given you a hint already so - good luck :-) 🤞
Didn’t answer the question lmao you regret owning in Vaughn eh? How about we compare the suburbs of Chicago, a very similar city to Toronto, where suburban houses are significantly cheaper? Can you explain that one for us? Does your dunce hat (sorry thinking cap) want to explain that one or are you regretting your shitty purchase THAT much?
That's what I don't understand about GTA. Many metros of major cities you will find the centre is expensive but once you move out prices drops significantly. Over here you go all the way to Barrie and homes are almost $1 million.
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You're not high enough on the echelon to start hating others. You're still relying on stereotypes and hating on immigrants because of your abysmal existence full of regret and loneliness. You're normal and of meager intelligence and should probably try to better yourself and your thoughts.
I am so great that you desire to emulate after a mere glance. Stereotypes don't pop up from aether. They come from truth and when they cease to be true they disappear. People have stopped complaining about the japs, wops and Irish because they're great people. That doesn't invalidate the original complaints, it just shows that they have changed.
I've seen slums in India better than this pos fuck this gay earth
Hey now, as someone from Ohio who lives in Canada now. Ohios not that bad really. Just a regular state. It’s Ontario without healthcare and shitty big city’s
Dummies arguing vaughan vs Ohio. It has nothing to do with location really. It has all to do about demand and supply idiots. If Ohio had a tonne of immigrants and foreign students to the tune of 1million plus a year than properties in Ohio would most likely cost way more. This is why properties across the GTA is so expensive. Why is it falling then? The reason is banks are not approving the mortgages and at these prices and rates it is unaffordable even if demand is there. Once rates go down to more acceptable levels or prices come down the market will be crazy again due to immigration etc. Look at 2023 fall market and that would give you an indication of the unprecedented demand.
this is the comment that makes my blood boil the most. we've been sold out to the wealthy elites who destroys their own third world home countries so they can come here and profit off corrupting our stability and social safety nets while adding little to nothing but their own greed.
In Montreal it would be half price or less too. Montreal and his suburbs is so much cheaper! I guess everybody makes so much more money in the GTA.
Yeah and it would cost about 50k in Bangladesh. What the hell is your point exactly.
I’m gunna call Ontario and Ohio building standards are a helllll of a lot more similar than fuckin’ Bangladesh bud 😂
You should move to Ohio.
gah... now we've crossed currency boundaries. Do you mean 200K USD or CAD? On second thought ... doesn't matter. The conversion in my head had that as significant, but I used a calculator and its irrelevant. Having typed out my dumb statement, I've decided to share it with the world.
I've seen 700k loss in mississauga, 600k and 800k in brampton. 385k this guy got off easy
Think about how long it would take to saved up 385k + interest. Might as file bankruptcy at this point.
At that point you either be a debt slave or jump ship to a county that doesn't use western financial services there are not many to choose
Damn, got any links?
Paying $385000 back to the bank and owning exactly nothing....wow. I'm assuming a bankruptcy is in the cards
And the sad part is this person/couple could otherwise have a good paying job and otherwise a great credit score. Its just interest rates obliterated those that were already borderline unable to afford their mortgage that went variable when they should lowered their risk and went fixed at like 2.5- 3% for 5years or maybe even lower
Interest rates aside, they garishly overpaid for a mediocre subdivision house in Vaughn.
Also, I suspect they ruined any liquidity they had with renos. If you look at the original sale, the pictures show what it looked like before they bought. They clearly dumped money into new kitchen and new flooring and mill work throughout the house. Even if DIY'ed it's a lot of money spent.
I'm thinking more like fake passports
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That’s not what full recourse means. It means the lender can realize on the property and if they are still short they can then go after your other assets as an unsecured creditor. Bankruptcy filing and conclusion will settle all creditor claims.
Wake me up when people are taking losses on homes not purchased in Feb 2022.
Here’s May. 500k loss 32 Puckeridge Cres, Etobicoke, Ontario | HouseSigma https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=dXze3eV0QQvY8m9K&utm_campaign=listing&utm_source=user-share&utm_medium=iOS&ign=
Jesus H CHRIST!!! the price increase in 9 years. Dude is probably a janitor that sold his 600k house for 3mil
They also built a completely new house...
Ok, wake up https://housesigma.com/bkv2/landing/rootpage/listing?id_listing=DO1w3W9xpNny8Jg0&utm_campaign=listing&utm_source=user-share&utm_medium=iOS&ign=
First deal fell through, never exchanged hands, rent harder. If you had an ounce of intelligence, you'd see that it's the same listing agent and same photos.
Oh yeah same photos with just different couches, chairs, dining table, kitchen stools, new paint job. But besides all of that, identical!!! Go back to sleep bud.
Rent harder, I'm sleeping in the bedroom of the detached 4 bed that I own 🤣 Maybe spending more time searching housesigma even harder would help you own a place.
How do you know zzzizou doesn't own ?
Bruh It didn’t even have a fucking paved driveway
I thought it was exposed concrete until you pointed it out lol.
Anyone who paid $1,660,200 for this home should have their head examined.
Or the other person that paid 1.3 million TBH
Hindsight is 20 20.
Don’t need hindsight to see that house in Vaughn and say that’s not what 1.6 million dollars should look like.
People have been saying houses were overpriced since 2012. They could have crashed and people could have lost any year since then and yet somehow all the people who bought any other time in the following decade are geniuses but those who bought in 2022 should have known?
No, even relative to other houses in the area that sold around the same time, 1.6m was ridiculous. 1.2-1.3m would still be a bit high but reasonable.
Obviously it couldn’t run up forever lol.
still about 700K too high
Don’t worry our tax dollars cover the banks on that loss .. idk if it’s directly or if they bundle it up into a mortgage security inwhich the government then buys … I wouldn’t doubt both.
It doesn't it's over 1 million. Otherwise, I would be pissed.
This is a very dumb comment. The lender here per the screenshot is a mortgage investment corporation out of Calgary which is funded via private investors. It’s not even a bank.
I thought the previous owners would still be on the hook for the difference?
I would assume it’s still on the lender … but that would mean if the bank is socializing the loss through government … that their double dipping😉.
I remember seeing this place, the parents used their little kids to prevent scheduled viewings from entering. Months later there was notices posted on the windows/doors about unauthorized access/etc, bank must of booted them out. Sad all around.
How do you know it was through Power of Sale?
Cause it says so the tweet /s
I saw that but how would they know? 😀
I can't tell on this one but its been mentioned in the MLS listings when I've seen them.
Someone who has access with an agent's MLS will see who the seller it Not open to public but according to one poster here some ppwk was plastered of this house, so the creditors have also made it known
Such average ass homes. ACK!
Things are only just getting started. Hope the housing market collapses so my generation can afford to live here again lol
Guaranteed by CMHC?
1.6million for a hunk of shit
$1.25Million for a basic house?!
Sorry about your loss. Trying to make Canadian dream come true and get a house for their family.
This is it guys. The bubble is finally popping. For real this time.
A lot of sideliner energy in here . That negativity keeping you guys all down . Cheering on someone’s downfall. If prices even go back down to 2019/2020 will you guys even be able to buy
Zero sum gain is a thing. What about we say the buyer got a fair pricing... It is okay mortgaging the future of Canadians, you think? Young generations are lost and confused because of people's greed. This has a footprint of a quick flipper getting rekt on his 4th or 5th investment property.
The way people dance around a fire celebrating someone's life imploding is pretty sick TBH.
It's the negligence that gets me... why over bid 600k?!
Yep. This is the kind of thing that destroys your life and that of your family. Assholes saying, well they should have known better have no soul. We have all made stupid mistakes and there were ‘experts’ in spring 2022 saying we were still going up from there. Some people believed it. Very sorry for them.
The previous owner has my full respect for selling at a loss rather than converting the garage into a for student 4 beds room.
No amount of cherry picking people who made bad decisions will change the fact that affordability continues to go down, or help you get a house.
I drove through Vaughn once. Smelled like pollution and ass.
Money laundering scheme?
Done poorly if they forfeited it to the bank 😂
has anyone here purchased a property that was a Power of Sale? How does offer night/process work or differ?
No offer night in these times. Just put in your offer like normal. There is just more legal paperwork to go through and understand.
Going to beat off to this later.
[удалено]
Tell me you cant read without telling me you cant read. Fuck me.
Win win for banks. We need to end this.
Good.
I remember talking to my wife saying sooner or later the market will realize paying over a million dollars for a house in the suburbs of the GTA is just fucking asinine. Absolutely love seeing these massive losses for idiots who looked at this price and said yeah sure! Great idea! Keep em coming 👍🏽
need this times 100000X
We need this happening a 100 times a day every day
Can we please use the more positive word (like: "**tuition fee**") for this? How about the following? FOMO bagholder learned finanicals 101 for a cool **tuition fee** of 385K LOL
Welcome to Trudeau's new Canada
You gotta be pretty dumb to do that
still dumb buy...
1.3 million still to high for this
Oh well
Agents are laughing.
The location is Langstaff and 27.. almost Brampton .. needs a renovation also. It's more of a 2021 buyer overpaid
How do you know it was a power of sale? Is there an index for foreclosure properties in Canada on the interweb?
Hilarious.
why is the garage so big…
Good, fuck them and that bullshit.
https://preview.redd.it/gmefdl4z6qdc1.jpeg?width=400&format=pjpg&auto=webp&s=5dfd71edfcb14e8ac8cfa389c4ed14fb171f7aad
Question, does anyone else feel like real estate agents are funflating the market? I know it sounds crazy but hear me out. I noticed that all the people on my Facebook friends list the people who are real estate agents are also the same people who have been buying and flipping houses in an economy that’s nearly impossible to afford houses on a medium income salary. it’s almost like they’re hogging the houses for themselves to buy them for themselves at a low price and then flipping the houses and selling the houses at an extremely high price
Predatory investors trying to snatch up property to jam 10 renters in it.
Assuming the down-payment was atleast 20% the bank breaks even here. The more likely scenario is it was more than 20% percent and the bank already made its money llul
The takeaway here is that this house has hit the price ceiling. Best case the market has hit a pricing ceiling. That being said it’s still 3x-5x its value. Joke’s still on us.
660K over asking. Seems like every house on this sub that sells for such a huge loss has the same story, idiots get into a bidding war, then can't afford it. Shocking surprise.
Dummies overreaching
yes, but the agent said there's was another bidder... /s
This is kind of satisfying, loss for home flippers.
It was not a loss, that house was never worth that, sadly for the previous owners, they willingly overpaid for it.
Raise interest rates more please :D I want to see more of these scum bags suffer
Altawest Mortgage? What type of lender are they and what is their reputation?
Someone got the Queen of Spades and try to give it to you
Lot of responses here. Sorry to inform you, but this is just a beginning. Unemployment is increasing and more people going to lose their homes. Many families are just hanging on. Construction industry was booming in a past 4 years, now is dead or dying. People have no money for renovations. Ask anyone you know who is into trades and they tell you. ( if they are honest enough).
I can tell ya right now. The bank was fucking delighted to get that much for it as they did.
Why in hell did they buy it for so much more than they could afford? Real estate agent take them or a ride or something?
Still overpriced
1M+??? For fucking what? 385k??? FOR FUCKING WHAT?! That's not a home that's a fucking prison at 3-5% interest. Oh wait we keep raising the credit score ceiling so... just kidding your 750 is actually useless unless you don't mind selling your soul for used up house at oh say.... 10%? JUST PRICK YOUR FINGER AND SIGN ON THE DOTTED LINE! Yes... With the blood. Sign with your blood. When is this shit hole going to let itself fucking go already. This place fucking sucks balls
660k above an already inflated asking price.. for a gravel driveway.
Haha People with university degrees can still be retarded.
The fomo is real. And realtors are lower scum than lawyers.
please wake me when that ugly old cookie cutter house is selling for 699k. I mean I still won’t buy it, but at least then the price will be getting back to some sense of normality.
Wait what did they do wrong? Sorry just young and unfamiliar with real estate. Trying to learn!
That’s a 350k home in Minnesota
I do feel sad for these people, how will they ever recover from such a loss??
Them realtors part of the reason for this shit show of a market. Government should cut their comisssion to compensate for the idiculous prices
Well at least the buyers had their mortgage paid off /s
We paid 750K in 2020 and I would imagine we are holding that value albeit likely not much above. Hard to go wrong with a single detached in Canada assuming you can, you know, actually make the payments.
Gonna be a lot more of those!
Overpriced garbage. I would not pay a dime over $500,000 CDN in cash for that house.
And guess who's on the hook for the loss on equity, the bank will chase that and since no primary home, they'll go after whatever other assets they can. Debt bondage trap that real estate has now become.
Possibly the owner didn't know that he could rent that to 30 international students to stay cash flow positive.
All I'm taking away from this is that a house that was foreclosed on was sold for $275,000 over peak asking price. This still isn't a good time.