[Bigchew]

I have a question for the members of this forum:

Consider the following house in the Beach:

- Three story house; 4 bedroom; finished basement; 2300 SQ FT.
- 25X125 lot; 2 parking spots
- brand new house, with fairly high-end finishes
- Located on one of the quietest and most desirable streets in the Beach
- Located south of Queen, 4-5 houses from the lake
- Has partial lake views from balconies on front and back

So....I have two questions.....

1) What do you think a property like this would list for?
2) What do you think a fair price would be? i.e. what price would represent reasonable value in your view

I would love to hear your answers.

One last question.....

What do you think will happen to Beach real estate prices over the next few decades? Why?

 

[urbandreamer]

I saw a house similar to what you describe a few weeks ago; but it was a pre-war home. It was going for $1 million. Personally, I thought it was overpriced--maybe $900,000.

The Beach area is always in demand, but I think prices have peaked for this cycle and I see a correction coming: 10% discount minimum.

 

[BrianPersaud]

The Beach area is always in demand, but I think prices have peaked for this cycle and I see a correction coming: 10% discount minimum.

UD...boy were you wrong on that one

 

[GraceCondos]

UD...boy were you wrong on that one

He was correct for people who sold Nov '08 - Feb '09. We represented a few people in the Beach during that time. Although, it was an extremely short window.

The house the original poster was asking about would be +$1.6m now. Although the top streets don't have 25ft lots a they are all 50ft (Munro Park, Neville Park, etc).

ps. Brian, did you just join KW?