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Good time to buy in Toronto, Canada !. I have several Neighbourhood Retail
Shopping Plazas in excellent Suburbian locations selling to yield 11 to 13%
CAPs going in. Mortgage rates are @7.5% - Can't go wrong!. I don't expect
these deals to be available for long
Al
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> From: Guy Tann <grtann@xxxxxxxxxxx>
> To: metastock@xxxxxxxxxxxxx
> Subject: RE: Times are a changing? Bonds&Equities
> Date: Friday, June 19, 1998 11:49 PM
>
> Mike
>
> I am originally from Michigan (one block out of Bloomfield Hills) but
moved
> to Southern California in 1982. I did see where Michigan home prices
have
> really skyrocketed.
>
> I originally bought a beautiful home here in 1983 (we rented a year) on
> Mulholland Hwy. 5,000 square feet, giant spa with a waterfall into the
> pool, etc. for $369k. Sold it for $460k I believe a year or two later.
> Wrong location. If I had bought in a nearby subdivision, could have sold
it
> in one-quarter the time for $750k. Learned my lesson. Location,
location,
> location.
>
> Bought in a beach community (to reduce the 4.5 hour round trip commute
time)
> five blocks off the Pacific for $442,000 in 1987. 2,200 square feet,
tiny
> lot, great schools and wonderful community. Prices peaked in 89-90 for
my
> house around $650k then dropped down to around $500k. My little hovel is
> now worth around $700k, I believe. In the whole city there are only, I
> believe, 4 homes on the market under $600k. Anything that's habitable is
> sold in hours with multiple offers. What happens is that the house goes
on
> the market for broker's viewing on Friday and a public open house on
Sunday.
> It usually receives multiple offers by Friday night. The selling broker
> then tells everyone that they will be opening the offers on Sunday, or
> whatever day. The sellers then counter everyone and then all the buyers
> submit bigger offers. Now, this is true for houses $700k and below as
well
> as for more expensive homes, if they are 'under priced' :).
>
> BTW, those prices hold for used homes as well. A 3,700 square footed in
the
> next block is on the market for $1.1mm and a 4,000 sq. ft. is on the
market
> asking $1.3mm. Oh, and we have no views, etc.
>
> Guy
>
>
> -----Original Message-----
> From: owner-metastock@xxxxxxxxxxxxx
[mailto:owner-metastock@xxxxxxxxxxxxx]
> On Behalf Of Michael Robb
> Sent: Friday, June 19, 1998 12:18 PM
> To: metastock@xxxxxxxxxxxxx
> Subject: Re: Times are a changing? Bonds&Equities
>
> Guy:
>
> Where are you? Michigan? Those are remarkable prices for new homes. Our
> prices here are inflated beyond what someone from Cleveland was willing
to
> pay to relocate, but they are no where near what you are talking about.
>
> Here 4700 s.f. can go for $425 +, a 3700 s.f. across the street was on
the
> market a year at $379 and finally sold for $270+. A house worth $140 in
79
> could bring $189 today.
>
> Mike
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