I've been trying to follow the trends in the real estate market and come up with my own ideas of what has been happening:
- the recession is taking its toll on the re-sale homes market dropping every month since the start of the year.
- new homes prices aren't expected to suffer as much due to drops in borrowing rates
So with those two points we see Mattamy is offering discounted prices in various communities including Newmarket, Cambridge, etc. Does this show that the new homes market is probably on the same course as the re-sale market? I'd say yes...the past few years you wouldn't find Mattamy discounting many homes save for a few closeout lots...so now we have the #1 discounting lots around $10k and probably a bunch of bonus dollars for upgrades with sign-on.
Does that put us in a good place come grand opening? Will we be seeing incentives from the get-go considering they have to get this whole project off its feet?
Are we buying at the right/wrong time only to lose money on our investment?
Stay Tuned!
*note: I have no experience in the whole real estate business/market, etc. so none of what I say can be taken as gospel but feel free to add a comment if you have some insight into the market and where its going!!
p.s. I'm out of the country till the 22nd so if there are any updates that I may be missing out on please post up a comment!! Keep me in the loop!
4 comments:
I am sure all the builders will be doing the same. With these sales, etc, I would be worried if they will save money somehow. With that in mind I'd strongly recommend the hiring of a housing inspector to monitor the construction to protect your investment. When homes were at the height, Mattamy sold me a house without electrical power and the furnace was illegally (code) wired to the house next door, putting my family with small children at risk. Even the Town of Oakville, who passed the furnace stated they would not give an occupancy permit under these conditions.
yeah im definitely hiring someone experienced for inspections...hoping to avoid horror stories like urs :(
Hey Alan,
I was Driving on Brock Road the other day and passed by the spot where there has been a Mattamy Creekside sign up for a few months. Now they have cleared the area and a few trailers have been dropped off..looks like they will be setting up the sales office soon. Have you heard any more on an exacgt date they will start selling?
Thanks for the info Tina, I never get a chance to drive by that area. I haven't got any more info about the exact date either, I hope in the next few weeks a lot more news will be coming down the pipeline...but unfortunately there is nothing at all coming down lately.
The Brampton--Castlemore Crossing has been bumped repeatedly from March to May to June to now July 2008. So since Seaton is 2nd on that "Coming Soon" list it'll have to happen after that opening...
So could we be looking at July or August 2008?!
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