Went to blu water property today in Oakville. A true waterfront condo on the lake, stunning new building that is resort style living. Very reasonably priced considering its on the water in prestigious Oakville. https://vimeopro.com/rsvideotours/3500-lakeshore-road-suite-326c http://www.sandyhatzis.ca/Agents/s3propertyDetail.cfm?lid=1331277&id=2092324&AID=29302&sBrokerCode=remaxrecentre&t=10721
There has been lots of talk / rumors that The Glen Abbey world famous golf course that's been on PGA tours may turn into home development. I heard through a reliable source today that the town has approved a condo development instead of homes - anyone in Oakville able to confirm this ? The Abbey course is gerogous , I have never had the pleasure to ever play it, but I have attended, and it's a stunning area, would be unfortunate if they redevelop this area into condos http://www.thespec.com/news-story/6048172-glen-abbey-golf-club-eyed-for-development-says-oakville-mayor/
Whats interesting about the blu water condos is that there is practically zero cell phone reception, regardless of carrier. That whole block from Burloak to Great Lakes Blvd is crap. I've got a few customers in those buildings, and its a major bone of contention. I've heard it had hampered sales in the building as a result.
Not confirmed if they will be condos. My sources say it was purchased a few years ago by an Oakville builder. As far as condos, Oakville is an odd place, having pretty well grown up here and seen many changes in 55 years. There has always been a division in Oakville that starts at 16 mile creek, then there is another that begins at 3rd line. ( Bronte) This is also represented in real estate values, the closer to downtown, the higher the values. If you are looking for value for your dollar, coronation park area and Bronte is the place. I grew up on the East side, and currently reside in ( West ) old Oakville. Condos have always been slow to sell, and 111 Forsythe is the first example. The second example is the what is currently Blue Water, the original concept did not sell, so there was a completely revamp in pricing, naming etc. There is another Condo on the Bottom of Bronte Road, many unit still empty. Lastly, the old Lakeshore Estate in West Oakville, high end, there are a few units remaining starting at 2.7 to 7 million. These are my thoughts only.
Are the condos in Oakville bigger than the shoe boxes in Toronto? I used to work in the old school condos like Harbor Square and those places were massive. Some were 2 or 3 stories and at minimum 1000+ sq ft. The newer condos are all under 1000 sq ft and most in the 500-600 sq ft size. How can communities grow up around single person dwellings like this? I think this will be a disaster in the future if the trend continues with these small condo units.
Glen Abbey Golf course is still owned by club link. Nothing has moved past the proposal stage at this point. Nothing has really been done with it since October. My brother is one who is involved partly with this.
This is what I found out as well. My councillor confirmed that they've had some pre-consultation meetings with representatives of ClubLink, but that's all. No proposals have been made yet. I hope the Abbey stays as it is. Oakville is home to the RCGA, it would be a shame to lose a marquee course.
A lot of the smaller condo units are owned by off shore individuals and businesses. Some are purely places where people "park" money. There are thousands of units that are owned, but sit completely empty. Not even rented. Same goes for many of the massive homes on the lakeshore. Empty, but owned by very wealthy people who live elsewhere. Its so bad in Manhattan that the state is starting to look into it.
Just think how angry the people who live in fairway hills are. The value of their homes just took a huge hit.
Same here in Vancouver which you're probably aware of. A recent example: $2.4M "knockdown" sums up Vancouver housing market | Globalnews.ca
Ummmm, "pre-consultation meetings" - that's code for "how do we market this to the community" It would be a shame to touch the abbey - condos are in Haltons future, with 100,000 people per year coming to the GTA they will sprawl out of Toronto and 416. Condos are all about the views, the lakeshore and waterfront makes the most sense all across.
Yes..Vancouver is really bad for this, I would put it worse then Toronto. It's time for somthing to be done about it. If the governments have to step in then so be it. And with our low dollar it's only going to get worse.
I'm always leery about governments stepping in to "control" some aspect of life... The average person usually gets screwed one way or another from it, either directly or indirectly. Someone who can afford a $12M home can afford any additional tax and if a set of restrictive requirements are put in place on that home owner to prevent them for buying or living there, they'll find a way around it. This isn't new, it's been going on for decades. As much as Christy Clark is a dip****, she at least recognises market-meddling can have negative affects. Besides, all these levels of government rake in tons of tax revenue from continually-elevating home assessments. They won't give up that cash cow anytime soon.
I believe foreign property ownership needs to be 40% down payment requirement, which if increased to 50% wouldn't be a bad idea. Though, I doubt it would matter. Someone I know that is a RE agent in the GTA caters to international buyers and she has said that all her transactions from them have been full "cash" purchases. This sort of puts the bubble theory on the back burner for many predicting the housing market crash here since 2010.
In my grandparents neighborhood all the houses are being bought up by Chinese nationals. In some cases the houses have been empty for 2+ years. They've had to complain to the city because nobody was cutting the grass or maintaining the properties...
I have some knowledge of the Chinese culture, my sister in law is Chinese, born and raised in mainland China. In general the mainland Chinese can be very superstitious. A lot of multi million dollar tear down is they like the property but the house isn't aligned to Chinese Fengshui. Its easier to tear down and build a house of good luck!
And the address of 4453 West 14th (linked video) will need to be changed. Surprised that with that many 4's it even sold.
What neighbourhood is this? Instability in foreign markets will continue to see a rise in investment here. Don't think that's going to change any time soon.
Its not unusual for $2million rundown teardown. In Vancouver, Chinese buyers are buying perfectly good Shaughnessy mansions and tearing them down. Even houses with extensive remodels end up being torn down when bought by Chinese. Not all are superstitious, but a good number are. My SIL is pretty religiously superstitious and most of her friends are the same way. I know a real estate agent in Vancouver, she has sold properties in the Southlands and Shaughnessy on the condition the buyer doesn't tear down the house. These are $6million to $9million homes. Even houses built in the last 10 years frequently get torn down.
Yes it is, but the market is getting to the point of unaffordability for the very people who live and work in this country.
I live in a downtown Vancouver condo, Concord marketed, that has no "fours" in suite numbers, floor numbers or parking garage floors - goes to"P3A" instead of "P4". Parking spaces and storage locker numbers contain "fours", so there are some inconsistencies. As well, there is no thirteenth floor, reflecting diversity in superstitions. Years ago I recall hearing that the ski area "Tod Mountain" changed to "Sun Peaks" because "Tod" might upset Germany-speaking tourists. I have no idea if the story is true, but it seems different peoples = different superstitions.