Moral of the story is your worst enemies are 1- your family 2- your neighbours 3- your friends Strangers are less harmful than all of the above combined.
Neighbors lie to make sure next door seller doesn’t list & sell too low. They r leveraged and don’t want their home value to drop due to comp. I’ve seen neighbours go to open house and try to drive up interest & bids. Some are completely unhinged due to fears of neighbour selling at huge discount. 🤣
Do sellers ever lie about selling for a lower price? Housing is the only living expense where everyone wants higher prices. Groceries, cars, gas, water, insurance: Neighbors always want the lowest price. The roof over our head? The highest price! It’s insane. This is exactly why our housing market is broken. If we were doing what’s best for society, we would want our housing prices as low as possible. Ask anyone who actually owns their home (doesn’t have a mortgage payment): The lower your living expenses, the better your life is. The wealth effect is a lie told by the industry to make banks, governments, insurance companies, and agents rich.
Don't these clients have one of the free Apps to see property sold prices? I'm nosy - I look up exactly what prices in my neighbourhood sell for :) :) Thanks Santo
My neighbors son said his parents sold their house in Mississauga for 1.3 mill plus 350k in a gym bag. The buyers were Asian. I still don't know if it was true.
Bs.... 1. Foreign buyers are banned by Trudeau and 2. Assuming that was true, they wouldn't have had to pay another 25% rip off foreign buyer tax. ANOTHER FLAT OUT LIE. Santos is right. People lie all the time...
The Price of Real Estate in Southern Ontario as well as the lower mainland in BC and some other pockets of the province are disconnected from the reality of peoples incomes and this must change for the good of society as a whole. These practices are an attempt to aid with that. The fact that interest rates have been suppressed for the last 15 years has created a massive real estate bubble and that's what it is a bubble. The governments have exploited it to what they thought was their benefit with all the development charges but now they find themselves with the quality of life in the country declining and on the verge of anarchy. The fact is that over 20 percent of our GDP is from Real Estate and Real Estate Related Activities and in a healthy economy that number is more like 10 percent. We have become unproductive in this country since 2016 and instead of investing in productive business, everyone has instead poured their money into real estate and continued to fuel this speculative bubble. We need a productive economy not a phony economy that has been based on immigration and real estate. Immigration needs to be curtailed to only allow newcomers who possess the required skills that we are lacking and the sheer amount of New Comers should be dropped to less then 200,000 per year as a maximum number. Interest rates need to remain at this level or go up another percent and be held here for another 24 months. This will cleanse the system of all the phony on paper illusionary wealth and bring assets down to realistic values. This will cause massive pain for the leveraged and it will have its unintended casualties for many others as well but once we have this cleansing we can return to a productive society. This needs to be done to break the back of the every day real estate investor who has no business being a landlord and leave it to the professionals. Prices will come down and their will be carnage and the strong will survive and the speculative attitude will go away and people will learn to live within their means and save their money and work hard and be productive. The alternative to this is we get more and more unproductive and the bubble gets bigger and bigger and the financial system collapses and we have bail ins and those with real money have the money restricted , think GREECE not long ago. Prime Rate in this country can never again go below 5 percent and we will again become prosperous after the must needed pain to cleanse the system.
With all the rate hikes filtering though you would think more panic sellers. Just wait till rate cuts occur. The bull market will be sellers wishing they waited to sell and buyers wishing they purchased 4-6months ago
I think inventory will rocket into spring and no rate cuts. Potential rate hike in June and prices will continue to slide down as panic sets in. It's not looking good for sellers you better believe it.
Why would a sane buyer wish this? "Oh, dang, I should have bought it back then when it was selling for $1,000,000, instead of now when it is being sold for $1,500,000!" Are people that crazy these days??? Both prices are just twilight zone stuff!
the moral of the story is your home is only worth what someone else is willing to pay for it.
Colin, have you heard of the greater fool theory?
Moral of the story is your worst enemies are
1- your family
2- your neighbours
3- your friends
Strangers are less harmful than all of the above combined.
Unfortunately, your comment rings true more often than not.
Sadly but 100% accurate. It happened to me.
Thankfully the public has access to housesigma to find out what the home sold for.
Yes, there are plenty of apps and other ways to know the real sold price.
Couldn’t agree with you more! I have had the same experiences myself. Every one is an expert about real estate values!
Everyone is an expert. I deal with this every day.
Neighbors lie to make sure next door seller doesn’t list & sell too low. They r leveraged and don’t want their home value to drop due to comp. I’ve seen neighbours go to open house and try to drive up interest & bids. Some are completely unhinged due to fears of neighbour selling at huge discount. 🤣
Another great video thank you!
My pleasure!
Do sellers ever lie about selling for a lower price? Housing is the only living expense where everyone wants higher prices. Groceries, cars, gas, water, insurance: Neighbors always want the lowest price. The roof over our head? The highest price! It’s insane. This is exactly why our housing market is broken. If we were doing what’s best for society, we would want our housing prices as low as possible. Ask anyone who actually owns their home (doesn’t have a mortgage payment): The lower your living expenses, the better your life is. The wealth effect is a lie told by the industry to make banks, governments, insurance companies, and agents rich.
Don't these clients have one of the free Apps to see property sold prices? I'm nosy - I look up exactly what prices in my neighbourhood sell for :) :) Thanks Santo
Where I can find that app?
@@oliverakrstic1879 search for House Sigma
Housesigma
Also Zolo.
I'd like to find a house where I'll never even know who my neighbours are.
…my experience is: neighbors can be the big shysters ‘n opportunists around the block. I never really think too highly about those “ppl”.
Nice towns indeed Santo
Thanks!
Early spring market. It’s looking aweful
lol
My neighbors son said his parents sold their house in Mississauga for 1.3 mill plus 350k in a gym bag. The buyers were Asian. I still don't know if it was true.
Bs.... 1. Foreign buyers are banned by Trudeau and 2. Assuming that was true, they wouldn't have had to pay another 25% rip off foreign buyer tax. ANOTHER FLAT OUT LIE. Santos is right. People lie all the time...
You forget to tell people how embarrassing low the sales volume is.
Home values will continue to decline for years.
The Price of Real Estate in Southern Ontario as well as the lower mainland in BC and some other pockets of the province are disconnected from the reality of peoples incomes and this must change for the good of society as a whole. These practices are an attempt to aid with that. The fact that interest rates have been suppressed for the last 15 years has created a massive real estate bubble and that's what it is a bubble. The governments have exploited it to what they thought was their benefit with all the development charges but now they find themselves with the quality of life in the country declining and on the verge of anarchy. The fact is that over 20 percent of our GDP is from Real Estate and Real Estate Related Activities and in a healthy economy that number is more like 10 percent. We have become unproductive in this country since 2016 and instead of investing in productive business, everyone has instead poured their money into real estate and continued to fuel this speculative bubble. We need a productive economy not a phony economy that has been based on immigration and real estate. Immigration needs to be curtailed to only allow newcomers who possess the required skills that we are lacking and the sheer amount of New Comers should be dropped to less then 200,000 per year as a maximum number. Interest rates need to remain at this level or go up another percent and be held here for another 24 months. This will cleanse the system of all the phony on paper illusionary wealth and bring assets down to realistic values. This will cause massive pain for the leveraged and it will have its unintended casualties for many others as well but once we have this cleansing we can return to a productive society. This needs to be done to break the back of the every day real estate investor who has no business being a landlord and leave it to the professionals. Prices will come down and their will be carnage and the strong will survive and the speculative attitude will go away and people will learn to live within their means and save their money and work hard and be productive. The alternative to this is we get more and more unproductive and the bubble gets bigger and bigger and the financial system collapses and we have bail ins and those with real money have the money restricted , think GREECE not long ago. Prime Rate in this country can never again go below 5 percent and we will again become prosperous after the must needed pain to cleanse the system.
👌
With all the rate hikes filtering though you would think more panic sellers. Just wait till rate cuts occur. The bull market will be sellers wishing they waited to sell and buyers wishing they purchased 4-6months ago
Pretty much how I became a millionaire
I think inventory will rocket into spring and no rate cuts. Potential rate hike in June and prices will continue to slide down as panic sets in. It's not looking good for sellers you better believe it.
Why would a sane buyer wish this?
"Oh, dang, I should have bought it back then when it was selling for $1,000,000, instead of now when it is being sold for $1,500,000!"
Are people that crazy these days??? Both prices are just twilight zone stuff!
Your are seriously nuts
@@davidkania3720you are one of the smarter ones on this channel for sure