house I viewed yesterday

[Casa Nova]

Originally Posted by Rochard

I thought the day of flipping houses was long over.....

Here where I live in Northern California about one fourth of the houses are in foreclosure or are otherwise empty. It's very sad really.

I am however looking to buy some myself here shortly. There's an entire complex of condos that was completed, but the company went out of business before they sold a unit. It's now owned by a bank. I'm guessing I can get them cheap.....

The housing market in Canada Is still good. From what I'm reading about the states, it's dropping like crazy due to all the foreclosures by banks.

[Vid Vicious]

Originally Posted by Casa Nova

The housing market in Canada Is still good. From what I'm reading about the states, it's dropping like crazy due to all the foreclosures by banks.

actually there was a report last monday or tuesday on the news .. it's a buyers market not a sellers .. accross canada eccept for one market .. you guessed it Toronto is still a sellers market ..

the house Chris saw will not get sold at that price or even remotely close to that price.

Housing market boom is over: Analyst say

[Jimmidean]

Chris as someone who flips houses on a regular basis.
DONT GO NEAR IT.
The Prov and Feds steps in and will place all kinds of air quality test and restrictions on the sale and drive you nuts.
Banks wont ouch it for the buyer or seller and I know a guy gutting one of these right now.
He is a home developer and still will take a large loss.
Feel free to give me a call on this one if you like.
But my direct advice is run away.

[Magnus3x]

Originally Posted by Jimmidean

Chris as someone who flips houses on a regular basis.
DONT GO NEAR IT.
The Prov and Feds steps in and will place all kinds of air quality test and restrictions on the sale and drive you nuts.
Banks wont ouch it for the buyer or seller and I know a guy gutting one of these right now.
He is a home developer and still will take a large loss.
Feel free to give me a call on this one if you like.
But my direct advice is run away.

Sounds advice indeed.

[Evil Chris]

Originally Posted by Jimmidean

Chris as someone who flips houses on a regular basis.
DONT GO NEAR IT.
The Prov and Feds steps in and will place all kinds of air quality test and restrictions on the sale and drive you nuts.
Banks wont ouch it for the buyer or seller and I know a guy gutting one of these right now.
He is a home developer and still will take a large loss.
Feel free to give me a call on this one if you like.
But my direct advice is run away.

Oh you're absolutely right. Heck I can't even get a straight answer from the agent representing this property. There's no way I'm going after this one now.

Originally Posted by Vid Vicious

actually there was a report last monday or tuesday on the news .. it's a buyers market not a sellers .. accross canada eccept for one market .. you guessed it Toronto is still a sellers market ..

Believe me when I tell you it's a SELLER'S market here on the West Island. I know what I could sell my place for... a lot. Demand in this area is extremely high, but there is almost nothing for sale. People are staying put.