because a shop is more personal to a woodworker we are particular about our tools
woodworker is a very very small market segment
plus what is the commision for a realtor these days
maybe make them earn that and take their advice
When a 3 bedroom 45 year old semi-detatched home with no garage in a "working class" subdivision sells for over $350,000 I don't think the house is "under-priced" With the influx of Toronto buyers I think you could sell a henhouse in a week for what would have been the high end of the market for a decent house less than 2 years ago. It's NUTS. Going by the house down the street I could likely get $400,000 for my house if I put it on the market tomorrow - but then whwere would I live? I'm not ready to move 100 miles west or 350-400 east, or 150 north, to get an affordable place.. There are places 50-60 miles west that might be reasonable, but not close to any decent centers with good hospitals and othe facilities - and where I wouldn't have to drive half an hour to get anywhere.
As if different realtors don't have different opinions.
Just because were paying them doesn't make them right 100% of the time.
How easy is getting a mortgage? I hope it is not heading like our housing market before the bubble burst. Of course, if you earned $2000 a month and your payment would be $1999 you qualified.
This is correct, but a realtor typically knows much more about selling homes than the average home owner.
Trust, but verify.
We're dealing with a realtor to sell my dad's house. Even she says that nothing is 100% when selling a house. The smell of chocolate chip cookies could send the best buyer running out of the door. :-)
Sometimes 50% is optimistic.
The mortgage "stress test" is pretty tight. You don't qualify for a CMHC insured mortgage if you wouldn't pass at 3 or 4%? higher than current levels..
As an example, at my bank, IF I was making $80,000 a year and was debt free with a $50,000 down payment on a house with $3000 taxes and $750 anual heating bill, they would approve me for only $247,900 purchace price (about $197,900 mortgage) with current payments of $1133.00 per month. A $4751 CMHC insurance fee is charged on that mortgage.
A minimum 5% down payment is required up to $500,000, and 10% on the balance up to 1 million. Over 1 million no default insurance is available and a 20% down payment on the total value is required.
At my current income I couldn't afford the mortgage on a chicken coop.
What it is, is irrelevant. How fast it sells for and how many people want it (at the price) is. Worth is defined by what people are willing to pay. Nothing more. Nothing less.
Or a thousand miles South and get three times the house on 20 times the property and still be within an hour[*] of six woodworking stores. ;-)
[*] Well, before a key highway collapsed.
It does seem to be going back that way. Not so much qualified income and no-docs, perhaps, but the (close to) 100% loans are back.
But not half a mile from Lee Valley!!!
Not up here. Thank Goodness. It's bad enough that the "well healed" Torontonians are grabbing up everything in sight (The vast majority recent immigrants, by the way) without all the riff-raff joining them. It does make it hard for our kids to buy houses - they would qualify for what the houses were selling for 2 years ago - but now they are being totally bid out of the market - with Semis and townhouses over $300,000, and bidding wars
- and lineps around the block when new condos go up for sale. This weekend a 40 unit condo sold out in hours - with a waiting list for the next tower virtually selling it out before it is built.And it's not a cheap condo tower ----. Being 10 minutes from the 401 it was sold almost totally to Toronto Commuters.
That drive must be brutal on the 401, through part of Toronto, Mississauga and the rest of the trip to Waterloo, especially doing it in rush hour twice a day. It would be different if I could get a job there, and probably pocket a good hunk of change.
snipped-for-privacy@notreal.com wrote in news: snipped-for-privacy@4ax.com:
Yeah, but what happens when it rains?
I've been there (Atlanta) when it's rained... Sure doesn't take long for someone to slide into someone and clog up all the major expressways out of town.
Is Toronto better about that?
Puckdropper
On a good day an hour will get me from North Waterloo to Pearson. My oldest daughter drives from Midtown Kitchener to World Place in Mississauga -She generally allows an hour and a half and usually gets there early enough to stop for a coffee. There have been times where it took over 2 hours, and sometimes she takes the back roads to Milton. from Mississauga, or from Milton to Mississauga. It IS a nerve wracking drive, but nothing like driving from Mississauga to Scarboonie, or vice versa!!!!!!
What kind of work do you do??
Significantly. I've driven through/around Atlanta a couple times - the traffic is nothing compared to Toronto - but I've NEVER made the trip without a traffic delay from some driver doing somethinf stupid.
Rush hour(s) is a mess anytime but when it gets wet the drivers really turn into assholes. Fortunately, I live far enough out (~30mi from midtown), and on the side where traffic isn't an issue. When I go to the other side, I make sure it's either the weekend or in the middle of the day (or the ER a couple of times at 2:00AM :-( ).
Snow is no fun, even when they know what to do with it. I'm done with that stuff!
It's all about odds. if everyone is making chocolate chip cookies...
Retired now, worked in computers, programming and network admin for many years. In the mid eighties I actually did drive the Mississauga/Scarborough run for a commute, that got old, and fast, got a job in Mississauga.
As much as people rank on the Atlanta traffic, I don't even think it's in the bottom ten major metro areas. There wouldn't be a problem at all if the drivers weren't such asses.
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