News   GLOBAL  |  Apr 02, 2020
 8.4K     0 
News   GLOBAL  |  Apr 01, 2020
 39K     0 
News   GLOBAL  |  Apr 01, 2020
 4.7K     0 

Wow, based on my predictions for 2012 from last December; my batting average is a perfect 1.000 :D
The world will not end in 2012. RIM stock will hit $6.50 (which is my buy target). New Condo construction sales will slow dramatically and this thread will hit the 400 page mark.


i dont think RIM hit $6.50 yet, but pretty darn close ... $6.56 US or $6.66 CDN.

wondering if i should re-enter my position around $6.50-6.75, or wait for it to go lower.
 
i dont think RIM hit $6.50 yet, but pretty darn close ... $6.56 US or $6.66 CDN.

wondering if i should re-enter my position around $6.50-6.75, or wait for it to go lower.

If 6.50 doesn't hold then this puppie going all the way down to $2.90 (based on my own techical analysis). My buy order is at 6.50 with a tight stop loss at 6.30. It's still a gamble though, there is no bottom in sight for RIM (RIP).
 
No I didn't. Shorted from $33 to $12 now I'm waiting for the $6.50 buy.

Back on topic: Man the rental market is HOT. Cannot say the same for Resales though.

Resale's definitely not "cold" though. It has cooled off, as expected around this time of year, but I still see some good properties going for more than asking. I think when the market was red hot earlier this year, many sellers were simply putting their property up on the market to see if they'd get any bites and, for the most part, buyers came out in droves. Right now you still see homes where the sellers don't really need to sell and with a high asking price, they simply sit on the market a little longer with no price drops. I do hope sellers start to recognize this gradual correction and start pricing their properties more realistically. If I see another fixer-upper listed at over $1M, I'm going to...ahhh, I digress.

A hot rental market is a good sign. I believe people who bought pre-con condos that are now closing should definitely consider keeping them as rental properties. Hopefully those "investors" had enough of an investment to return positive cash flow.
 
Wow, based on my predictions for 2012 from last December; my batting average is a perfect 1.000 :D

Ok, in that case I have an important question: which of the Toronto sports teams will be the first to make the play offs - Craptors, Leafs, Jays, TFC, Argos?
 
No I didn't. Shorted from $33 to $12 now I'm waiting for the $6.50 buy.

Back on topic: Man the rental market is HOT. Cannot say the same for Resales though.


Great call on RIM. Uncovered shorts though....you can really get burned....unless you had stock that you were covering.
In my experience no one gets it right much more than 50% of the time....however you are in the wrong profession (realtor) if you can do better than 50%.

I still think condos are moving in resale in the core. In our building that I follow, there were I believe 6 for sale about 3 weeks ago. There is now 1. The six sat for about 3-4 weeks but then started to move and 5 gone in the past 3 or so weeks so there is still demand. Asking I believe was around the $550/sq.ft. mark on average at Richmond/Simcoe area.

There will be a lot of rental market product however at the high end coming on.
 
Ok, in that case I have an important question: which of the Toronto sports teams will be the first to make the play offs - Craptors, Leafs, Jays, TFC, Argos?

That's easy, don't even need my crystal ball for that one: Argos.
 
Great call on RIM. Uncovered shorts though....you can really get burned....unless you had stock that you were covering.
In my experience no one gets it right much more than 50% of the time....however you are in the wrong profession (realtor) if you can do better than 50%.

I still think condos are moving in resale in the core. In our building that I follow, there were I believe 6 for sale about 3 weeks ago. There is now 1. The six sat for about 3-4 weeks but then started to move and 5 gone in the past 3 or so weeks so there is still demand. Asking I believe was around the $550/sq.ft. mark on average at Richmond/Simcoe area.

There will be a lot of rental market product however at the high end coming on.

Interested, I do have my fair share of losers (BAC, HMX); I just don't want to talk about them; typical human nature to hype their winnings and downplay the losers. I think I will hit the jackpot with Sprint though. Bought that puppy 3 months ago for $2.4; currently at $4.86 and I see this hitting $20 in a couple years; Just in-time for my INDX closing.

On the subject of rental condos, this is the first time I've seen the market this hot: everything rents within a couple days with multiple offers and over asking. A lot of potential buyers choosing to rent instead. Very good for investors with rental +ve cash flowing properties.
 
Last edited:
On the subject of rental condos, this is the first time I've seen the market this hot: everything rents within a couple days with multiple offers and over asking. A lot of potential buyers choosing to rent instead. Very good for investors with rental +ve cash flowing properties.

Is that just based on your anecdotal experience? Or are there some published numbers to back that up? It looks to me like there are more "condos for rent" listings on craigslist/kijiji than usual.
 
Is that just based on your anecdotal experience? Or are there some published numbers to back that up? It looks to me like there are more "condos for rent" listings on craigslist/kijiji than usual.

Kenny,

Anecdotal. I haven't looked at the rental #'s for July and mid August but I'm very sure the numbers will back my experience. I've never seen the rental market for downtown condos this hot b4 and also have not had so many clients looking to rent.

This is also the experience of other agents in my office, so I think it amounts to something. I'll take a look at the MLS #'s and provide a follow-up.
 
Last edited:
Kenny,

Anecdotal. I haven't looked at the rental #'s for July and mid August but I'm very sure the numbers will back my experience. I've never seem the rental market for downtown condos this hot b4 and also have not had so many clients looking to rent.

This is also the experience for other agents in my office, so I think it amounts to something. I'll take a look at the MLS #'s and provide a follow-up.

Thank you for your honestly. I think it will be telling if the numbers do hold up in a broader context as you've experienced them.
 
Adding some fuel here - we listed our condo 6 days ago, and it's now sold. Multiple offers, full asking, no conditions. Prior to listing was worried it wouldn't move quickly, however after going through the process the downtown condo market still seems alive and strong. Just my 2 cents.

Cheers,
 

Back
Top