A townhouse listed under $600,000 in Oshawa? Prepare to pay hundreds of thousands more

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GTAHomeHunt: As housing prices in Durham Region climb, realtor Othneil Litchmore warns that a home priced under $600,000 will invite several buyers to compete.

This three-bedroom, three-bathroom condo townhouse is nicely sized for a family and includes an ensuite washroom.

More than an hour away from Toronto, is this family home priced at $529,000 too good to be true? That depends on what other houses in the area have sold for, Litchmore advises. “That $812,000 was a reflection of how heated the market was in February,” Litchmore stresses. ”This is a condo townhome in Oshawa … It’s a townhouse that’s attached on both sides — it’s not even an end unit.”

“What the realtor is doing is just going in line with what all the other realtors previously listed homes for in this complex,” Litchmore said. “The realtors are essentially all pricing the units the same and just inviting in the same people to give their best offer.” Prospective home buyers may not be particularly interested in moving to Oshawa, but they could see such a relatively low price and consider making an offer, Litchmore said.

That price is in addition to monthly fees, which are $413. Because the homes in the complex appear to be about 40 years old, that price makes sense, Litchmore says while older homes are more expensive to maintain. But, he points out, the only utility the fees cover is water, while most fees usually also cover heat or hydro.

 

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Realtor 'warns'? What is this? Some kind of plot to exonerate Realtors and their industry from being 1 guilty what happened top RE in Ca? Or he is an uniquely unusual RE agent? They set these things up to generate panic buying. If anything, this is a new twist to ts evil doing

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A family townhome in Oshawa for $529,000? Prepare for a bidding war, expert saysAs housing prices in Durham Region climb, realtor Othneil Litchmore warns that a home priced under $600,000 will invite several buyers to compete. Pricing below true market value is a scam that drives prices up! Other scams are illegal! If WE as a collective community, really want to curb out of control price increases WE need to change selling practices including lower pricing & blind bidding! Why using question marks for the title of this article, isn't obvious? Crappy-worn down homes in Ontario cost as much as a 1+ bedroom flat in Monaco! ...we are heading for self destruction! Who is buying all those houses!?! Average Canadian family with 80-100k yearly income is barely capable of affording a 500k house, let alone over 600k...
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