Montreal City Weblog

Kate 11:18 on 2021-03-21 Permalink Reply  

• dmdiem 12:54 on 2021-03-21 Permalink

  While prices are really starting to get out of hand, it’s basically impossible to call the top of any market. But there are a few things that could bring the prices down:

  1) Rising interest rates from the Bank of Canada due to increased inflation.
  2) Decreased immigration.
  3) Increased development.
  4) New regulations on corporations/investors purchasing properties and leaving them vacant.
  5) Flight off island. Either from the work from home crowd looking for a better quality of life, retirees downsizing or just generally people looking for a home they can actually afford.
  6) That thing that cratered the real estate market some decades ago.

  Also I just want to point out that realtor Mark Broady did not, in fact, sell a tear down bungalow for 680 million dollars.

• steph 13:14 on 2021-03-21 Permalink

  “We’re often listing properties where we think the market value will be and they end up selling for way over what anyone could have expected,” he said.” This is a lie. Realtors are equally listing things below market value seeding confusion to cause blind bidding wars. In a sellers market, where over-bidding is commonplace, under listing will gets the owner the highest offer

• dmdiem 14:05 on 2021-03-21 Permalink

  Looks like they fixed the 680 million dollar thing. Too bad. That was funny.

• Ephraim 06:29 on 2021-03-22 Permalink

  There are still quite a few FLIPPERS in business and I wish they would stop. They don’t have a light touch at all. Like this one… https://www.centris.ca/en/houses~for-sale~montreal-cote-des-neiges-notre-dame-de-grace/17778827?view=Summary&uc=1 on Grand in NDG… $2.22 million… on Grand! Every damn sink is so wide that there is no counterspace in the bathroom. So modern that it’s actually awful. And because they redid everything, there is no place to really customize it to your own particular taste. Put in a minimal staircase… removed all that storage that you could have under it. Great for architectural digest… horrible if you want to live there. So many of these guys go so over the top with the changes… instead of making it livable and functional. Something you want to live in, not simply show off, once, in a newspaper article.

• Kevin 10:26 on 2021-03-22 Permalink

  @Ephraim
  Awful taste but great execution.
  Would not live there.

• Blork 12:37 on 2021-03-22 Permalink

  I like “modern” but that house has me shaking my head. It’s like someone took a book of modern design ideas and APPLIED ALL OF THEM willy-nilly without any sense of restraint. And $2.2million for what oughta be a $600K (before all that MODERN)? No thanks!

• MarcG 12:51 on 2021-03-22 Permalink

  That house is around the corner from LCC.

• Kevin 15:56 on 2021-03-22 Permalink

  @Blork
  According to friends who have bought in the past few weeks, $600,000 is the price for a home that must sell and close in 30 days in DDO, or a losing bid for an upper duplex, no access to basement, in NDG.

• Blork 18:02 on 2021-03-22 Permalink

  Well, the stories are certainly out there about things like that. OTOH I know someone who just put their DDO townhouse on the market for $350,000. It’s not a mansion, but it’s in good shape and has a sweet, recently renovated modern kitchen. I have no doubt he will sell for well over the asking price.

  So my $600,000 price is based on a fairly plain NDG house in regular times, but even that is low-ball unless it’s a dump. However, this one has a total do-over inside, with everything sparkling and modern, so I’d expect that to add a couple of hundy or so. But ultimately it’s not a mansion, so anything over a million seems excessive, and $2.2M is more than double that!

• dwgs 19:07 on 2021-03-22 Permalink

  Places on my modest ndg block (between de Maisonneuve and Sherbrooke) are going for around 800k and the being gutted and redone. It’s madness.