Re THE blind bidding process in Ontario and BC


Re/Max Canada’s two top executives are calling for more transparency in the home bidding process, and say homebuyers should be allowed to know what their competition is offering.

The common realtor practice of blind bidding has angered buyers and is being blamed for pushing up prices in the country’s overheated real estate market. Some economists and a handful of realtors have said blind bidding needs to end.


https://www.theglobeandmail.com/busi...in-bidding-on/

I'd guess it's pretty far down the list of reasons to end it. Also if very many realtors want it I'd be sus.

Canada is weird.

eh?

you betcha

Regarding the UAE, you are absolutely right, they have really put on a clinic here in terms of handling this. We have been more or less open for business except a few weeks in March/April last year. There's a million different reasons for this, I won't spam this thread with why's.

My post was more of a thinking out loud thing. I'm no expert in bubbles, but what they call villas here (single family homes/detached houses) is where the increase is. Some apartment areas (Marina/Downtown) are seeing an uptick, but the 40% increase as reported is in the villa communities. The demand is far greater than the supply at the moment for houses.

There is no property tax in the UAE and my HOA is roughly 6k per year.

The rental market in the UAE is fairly complex, see spoiler below. Basically still low, but most rental contracts are renewed during the summer months, so let's see what happens. Mine will rent for 68-70k per year, enough to cover the mortgage, HOA and insurance, but not much more than that. On top of that I would have to freeze the rent for 3 years according to local law.

but typically polite about being weird

sorry

https://www.thestar.com/news/gta/202...not-alone.html

"It’s a marketing gimmick real estate agents told the Star has proliferated recently"

this is like saying ebay was the first company to ever create an auction.

sorry Paul, not a new idea.

My wife and I are thinking about selling our 3/2 home here in FL and just renting a 2/2 unit for a year or two. This market is insane.

Do you plan to buy back in? Or???

100% a crash is coming this decade, but you can hold for a bit longer.

Yes, at some point but in no rush too. I do believe and love home ownership for the long run but I'd rather see the market cool off a little before buying.

Honestly, it sounds like a nightmare if you have to buy now.

Just bought a house. Wasn't a nightmare. Of course, I'm not moving to a highly desired destination, but even in Montgomery Alabama the market is hotter than usual. Still, only two of the houses we looked at had offers, one before we looked and one came in as we were looking. The house we wanted was fresh (back) on the market after a previous deal fell through, and our second chioce had been on the market for months as a FSBO.

Lots of bidding war stories out there, and if we were moving somewhere like Denver, I'd have been worried, but this was pretty easy. And no, we're not moving to Alabama by choice. The military is sending me there.

Now to sell our house here in Indy. I hope the hot market applies here, as I'd love to have it done quickly.

Maybe I'm confusing you with someone else, but didn't you just move to Indy pretty recently and put a ton of work into your current place? If so, it kind of sucks that you're being forced to move. Hopefully, you will at least get back what you put into it.

Indy market may not be Austin, but I hear it is as hot as it has ever been. Good luck.

Yeah, that's me. I'm in the military, so we move every few years. I didn't plan to buy a project house when we moved here, but the deal was too good to pass up. Pretty sure we'll make money on the house, since a lot of it was sweat equity. Hopefully we'll even make enough for me to get more than minimum wage for my work on it...

I don't think it will be an issue in this case, but I know that some private employers will buy your house for a certain price if you can't unload it yourself (and then they will just sell it) or they will pay you some fixed amount to cover some of the loss of being forced to sell at an inopportune time. I don't suppose the military has something similar.

No, but we do get a monthly housing allowance, which we can use to rent or buy (our choice). If we choose to buy, the risk is pretty much on us.

I had relatives at Maxwell about a dozen years ago. They liked the area fine, but they both grew up in the Southeast so there wasn't that much of an adjustment.
Hope you guys enjoy it--and can tolerate the Auburn/Bama crap. LOL

why do military people choose to buy when they know they're likely there for 3 years?

This will be our second time at Maxwell. When I got selected for command down there, the way my boss told me was to come up and ask if I was an Auburn or an Alabama fan. When I told him I didn't really follow college football, he told me "where you're going, you have to pick a side." So I told him Auburn, because I had a Captain who always signed his emails "Roll Tide." Boss said "good choice! War Eagle!" and I was like "I thought they were the Tigers."

LOL!
One of my best friends is an Auburn grad, but not a total fanatic. Those guys are generally much more tolerable than the Bama fans.

Because living in rentals gets really old. The rental inventory is always way more limited than the sales inventory, and is rarely where/what you want. And so far <knock on wood>, I've always made money buying, even for such short periods.

I did rent when I was in command, because I didn't have time to deal with ownership issues, especially as we like historic houses, which usually means a lot of maintenance. Rented when overseas or on short training assignments too.

Yeah, turns out my boss was an Auburn grad, so I definitely made the right choice. Still don't follow college football, though.

You should be selling your house every 2 years for a profit, which includes moving hassles, in USA#1. If you like money and don't have kids.