HawthorneVillager.com

Check out these prices!

http://www.remingtonhomes.com/oakville/ ... ppointment

(796K -- 2382 Sqft -- Single Car Garage (I Believe) -- 38 foot lot)

http://www.mattamyhomes.com/gta/communi ... -preserve/

(666K for 1988 sqft - Single Car Garage - 34 foot lot)
My questions:

Who are buying these homes? Where are people getting money for these homes? How much are there mortgages ? What is there initially down payment? Nobody in there 20's 30's could ever afford this on their own (especially with school debt, other debt, car payments, wedding, children etc.

Who?.....Extended or multi family's.....Lottery winners

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I just don't get it. I have no answer to your questions as I find it equally baffling. $666K for less than 2000 sq ft and single garage, WTF???

I can only assume that it comes from irresponsible long term financial planning with couples in their mid to late 40s (or 50s) who have already built up some decent equity, and because the bank says they can take out a 20 year mortgage, they choose to upgrade their home rather than saving for retirement. Unfortunately eventually they will realize they have a big expensive home but no cash for retirement and they will either have to downsize aggressively or (more likely based on what I have seen) keep working past 65.

I too am totally shocked at what's happening in North Oakville! Who the heck is buying these homes!? I have a theory... see below...

The 45 ft lots were the first and quickest to sell... they START at $950K and the biggest shock, $80K in 90 days Deposit!!? Are you kidding me? Who has 80K just lying around to give to a builder to just wait for over a year to get their house?

So who's buying these houses? Lottery winners? hmmm, dont think so... for $950K you can get a nice house on a bigger peice of land elsewhere in a nicer area (this north Oakville area is actually not that nice, too congested and closterphobic feeling)

Yes, it could be either Oil rich immigrants who have money to spare and want to stay close to the city for business purposes, or multiple families going in on one home (but you see that more in brampton)... OR... very likely Real estate Agents/Companies that are looking to flip in a year. Many of these resales are going for over $1 Million so even if they profit only $100K per house but have bought 5 or 6 houses together they're laughing with that profit not to mention their commission and the over inflated market continues to go out of control.

I hope this trend doesn't flow into Milton new developments, that would just be sad.

A lot of move up buyers can afford these prices.

Scenario:

-Young couple buys small detached home in 2002 for $300k. Mortgage is almost same, as they only had 5% down.
-Now, 12 years later, they have paid off half of mortgage due to declining rates. Plus, house has increased to $650k.
-So, they have $500k equity in the home.
-Purchase house for $950k, mortgage is $500k after moving fees. $500k mortgage only requires $100k combined income to qualify at today's rates.

Happening all the time - here in Milton too...just slightly smaller #'s.

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Hunter Obee
Sales Representative
Royal LePage Meadowtowne Realty
Diamond Award Winner - Top 3% in Canada
http://www.TheHomeHunter.ca
905-878-8101

Mattamy pulled the pricing, did anyone keep a copy?

Got them from Google Cashed Pages:

GTA - Oakville, The Preserve

34' Homes for Sale
Model Bedrooms Price SQFT Download PDF
The Aster 3 Starting From: $666,990 1988
The Fern 4 Starting From: $681,990 2126
The Juniper 3 Starting From: $684,990 2228
The Lily 4 Starting From: $705,990 2385
The Trillium 4 Starting From: $706,990 2511
The Waterleaf 4 Starting From: $721,990 2711

38' Homes for Sale
Model Bedrooms Price SQFT Download PDF
The Alder 4 Starting From: $764,990 2459
The Honeysuckle Corner 4 Starting From: $779,990 2492
The Jasmine 4 Starting From: $784,990 2582
The Lavender 4 Starting From: $794,990 2693
The Snowberry 4 Starting From: $821,990 2800
The Winterberry 4 Starting From: $834,990 3007

45' Homes for Sale
Model Bedrooms Price SQFT Download PDF
The Daisy 4 Starting From: $884,990 2950
The Ginger 4 Starting From: $899,990 3085
The Marigold 4 Starting From: $909,990 3340
The Orchid 4 Starting From: $934,990 3556
The Snapdragon 4 Starting From: $964,990 3739

50' Homes for Sale
Model Bedrooms Price SQFT Download PDF
The Dove 4 Starting From: $954,990 3087
The Hummingbird 4 Starting From: $984,990 3483
The Meadowlark 4 Starting From: $1,004,990 3841
The Oriole 4 Starting From: $1,025,990 4092
The Whippoorwill 4 Starting From: $1,034,990 4242
The Oriole Corner 4 Starting From: $1,066,990 4231


Rear Lane Towns for Sale
Model Bedrooms Price SQFT Download PDF
The Beech 3 Starting From: $474,990 1766
The Chestnut 3 Starting From: $484,990 1819
The Holly 4 Starting From: $494,990 1939
The Chestnut End 3 Starting From: $499,990 1837
The Tamarack Corner 3 Starting From: $549,990 1995

Village Homes for Sale
Model Bedrooms Price SQFT Download PDF
The Admiral 2 Starting From: $377,990 1036
The Clearwing 2 Starting From: $392,990 1135
The Monarch 2 Starting From: $402,990 1279
The Pearl End 3 Starting From: $412,990 1333
The Swallowtail 3 Starting From: $417,990 1408
The Viceroy 3 Starting From: $427,990 1534
The Vanessa End 3 Starting From: $433,990 1541
The Tortoiseshell Corner 3 Starting From: $442,990 1509

That's it, Hunter nut-shelled it. "These people" (the Developer/Realtor/Lender community) know us better than we know ourselves.

Not surprised to see Mattamy involved in there. The evil genius of it, they make killings on both ends, Region-wide. These kinds of developments keep Milton looking like an investor's paradise by comparison, especially the kinds of investors with no money to invest .

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This one thing probably never goes away
I think this one thing is always supposed to stay
This one thing doesn't have to go away

At 16' wide it definitely is not a double car garage - maybe car + bike garage.

My 30' corner has a 17' 2" wide garage - and I thought that was tight.

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Hawthorne Village North - Phase 3A
Lucan Corner Elevation "D"
Closing August 2014

You say "these people" like they are doing something wrong or are shafting you. This is a free enterprise economy and these prices are obviously based on supply and demand so all the power to "these people".
And yes, Hunter is bang on. If you have been wise with your money, made the sacrifice to move several times within new subdivisions/homes and have been somewhat lucky then you can afford a $950k home with $500k mortgage on a $150k income.

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Phase 96c, Lot 3224

It's scary to see people are carrying around a $500K mortgage.

To some it is and to others they don't bat an eye. If it's not the norm already, it soon will be to have a $500k mortgage, especially if prices keep escalating.

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Phase 96c, Lot 3224

I don't find the location to be that greatest either. You are 20-30 minutes to the oakville or bronte go station. You are really in the middle of nowhere. There is so much land to be developed why don't municipality's force builders to build larger lots, in the end it just leads to more traffic signals, pollution, grid lock and stress. Look how long it takes to get from the west end of Milton to the east end. It's only going to get worse.

With cutbacks happening more often. What field or industry are most employed in, to able to keep up with monthly payments

What is the average mortgage in the gta these days anyways?

Perhaps, Mattamy should introduce "North Oakville special" house model. Called "Snobberry"

In the past our family have recommended to buy in new South Bronte for two families. Much higher prices were where already, but upscale new homes from different builders, comparing to Mattamy's "no frills, build from recycle, supplied by dollar store" Milton building style. Even playground in this neighbourhood is build like Casa Loma. Just by driving where you could see and feel the difference between "new" neighborhoods.
Yet, no school nearby, with many children in this area. They have one in plans initially, but execute style townhomes were dumped instead.

But everything from 401 and up in Oakville near Bronte is nothing special if not worst comparing to Milton, in terms of houses and street look.

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Let me know if you need a picture or two

Why do you assume everyone has a mortgage?
Just cuz you didn't think of it, doesn't make them stupid