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PostPosted: Thu Jan 19, 2017 3:14 pm 
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FarKhan wrote:
What is a reasonable price reduction I can get? At these prices you can sell your home in milton and buy a detached in markham

Probably zero.


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PostPosted: Thu Jan 19, 2017 4:35 pm 
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You can buy a detached 36' two car garage in markham for 850-950k. Is this a bubble you guys think?

3200sqft markham (inc basement) 899k
33 Rainsford Rd


am I missing something?? or are the prices posted in milton selling well below asking


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PostPosted: Thu Jan 19, 2017 4:43 pm 
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FarKhan wrote:
You can buy a detached 36' two car garage in markham for 850-950k. Is this a bubble you guys think?

3200sqft markham (inc basement) 899k
33 Rainsford Rd


am I missing something?? or are the prices posted in milton selling well below asking

More like well above asking.

A 36' lot would go for somewhere around the same range here (some a bit less some a bit more). Why do you think that Markham should be more expensive or is any more attractive of an area?


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PostPosted: Thu Jan 19, 2017 4:53 pm 
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Density per area, household income in the region, foreign investment, shopping malls, major high ways, proximity to the city, home to some of the biggest global employers in the world, Canada's high-tech capital. I believe about two-third’s of Markhams population are visible minorities. More than half of Markham’s population is Chinese or South Asian by ancestry.


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PostPosted: Thu Jan 19, 2017 4:56 pm 
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I tried to find Milton but there is not much information available? I see Burlington and oakville

http://www.livingin-canada.com/best-pla ... ronto.html


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PostPosted: Thu Jan 19, 2017 5:19 pm 
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FarKhan wrote:
Density per area, household income in the region, foreign investment, shopping malls, major high ways, proximity to the city, home to some of the biggest global employers in the world, Canada's high-tech capital. I believe about two-third’s of Markhams population are visible minorities. More than half of Markham’s population is Chinese or South Asian by ancestry.

Sounds like you need to move to Markham! And pfft we have the beautiful Escarpment...suck on that Markham. I work out of Markham a few days a week and it's nothing special AT ALL.


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PostPosted: Fri Jan 20, 2017 11:55 pm 
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FarKhan wrote:
You can buy a detached 36' two car garage in markham for 850-950k.
3200sqft markham (inc basement) 899k
33 Rainsford Rd


List low to start bidding war
You can barely buy a townhouse in the 800s in Markham (or most of York for that matter)

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PostPosted: Sat Jan 21, 2017 1:40 pm 
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Location: Derry/Trudeau
Ya Markham prices are much higher than Milton, that's not a real price.


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PostPosted: Sat Jan 21, 2017 10:44 pm 
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Location: Hepburn/Thompson
I was chatting with my mortgage broker today and asked about the rate of foreclosures in this market. He said that less than 0.1% of mortgages right now are heading to foreclosure.


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PostPosted: Sat Jan 21, 2017 11:38 pm 
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mike6382 wrote:
I was chatting with my mortgage broker today and asked about the rate of foreclosures in this market. He said that less than 0.1% of mortgages right now are heading to foreclosure.

It makes sense that the rate would be so low. With high market values and relatively modest borrowing (only able to borrow up to 80% of the value), you aren't going to find many people that are upside down. Reality is that tons are, but they could still squeak out of a foreclosure scenario fairly easily.


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PostPosted: Sun Jan 22, 2017 1:14 am 
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Foreclosure is very rare in Ontario
Power of Sale is most banks first choice

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PostPosted: Sun Jan 22, 2017 12:41 pm 
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FarKhan wrote:
I believe about two-third’s of Markhams population are visible minorities. More than half of Markham’s population is Chinese or South Asian by ancestry.

I wouldn't live in Markham if they gave me a free million dollar house.
Have you actually even been to that place? It's like living in another country. I was there a few years ago and I couldn't see a single sign written in English anywhere. And that Pacific Mall that they all brag about - what a dirty, fricken dump! No one spoke any English and I got the distinct impression that they resented me even being there. It felt like being in China rather than Canada.

If you enjoy living in an area like that (so diverse, as you stated) and you think it has so much to offer than perhaps you should take a look at Brampton - it also has a very diverse population and you could save many hundreds of thousands$$ buying there. Of course there is a downside to buying in these sort of places (I'm almost tempted to call them ghettos) mainly because living there would not appeal to many people.

It sounds like you are not very familiar with the various GTA neighborhoods and towns and that you're basing your investment decision mainly from what you've read somewhere. I would strongly suggest that you actually go and spend some time in all those places, speaking to the locals, and thoroughly doing your homework before deciding. Don't take any one's word for it, go and take a look for yourself.


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