Wednesday, December 3, 2008

Optimist Real Estate Agents and People in Toronto

Check Out The Mindset of People In The Toronto Real Estate Market. I am still bearish on Canadian Housing. I will not be fooled!!!!

294900 Amazing Location - 1 Bedroom + Den + Parking + Balcony
Question: Hi, What is the GRM, Cap Rate, and $ per square feet?

Answer: This unit has 703 sq.ft. plus a 30 sq.ft. balcony.
Approximate rent/month: $1,500
Let’s say you get it for $290,000:
Price per square foot: $412
GRM = 16 ($290,000/$18,000)
CAP rate = 3.69 percent ($18,000 - $1,986.07 yearly taxes - $5,312.76 yearly maintenance fees)/$290,000
Would you like to see this unit tomorrow or on Thursday?

No You clown. Example of overpriced Toronto Real Estate. For me to even look at this property the GRM needs to be closer to 5, CAP should be over 5%, and price per square foot between $100 - $200. People are just looking for the next greater fool to buy. I am not a fool.

$245000 Condo Apartment

Question: Hi, Why should anyone pay $340 per square feet for your place?
Answer: U don't have to. This is how much I want for it. It is a nice place and it is priced well. By the way was that a comment or question or something else!?

Don't Over Pay for Real Estate.

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