Ontario Tax Sale Property Forum
Tax Sale Forum => General => Topic started by: Pfm1011 on December 17, 2008, 12:45:18 PM
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We are about to end another year of bargain hunting. There has been a pile of property sold and only a few results posted on here. I believe today is the last sale of the year so we can begin.
I would like everyone to make nominations for the "bargains of the year" . If you know of some good deals that went down post them. If you are the winner you may claim bragging rights but if you weren't the winner DO NOT POST WHO THE WINNER WAS.
just the property, what it sold for and what is worth and if it flipped, what it flipped for. Doesnt have to be the most profit in dollars, can be in percent too.
DO NOT POST "THE BAD DEALS OF THE YEAR"..no one needs salt in the wound
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Don't forget the missed bids by few dollars. That seemed to happen a lot this year.
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I would like to get this started by nominating roll#491802000730025
and #491803000145210 in Kearney Oct 16.
House w/ acres.
New cottage on water.
For 55k each. Nice package!(as he bought both).
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house with 25 acres
cottage on water 2.5 acres 55K each..definately well bought..Any idea of market values??
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house with 25 acres
cottage on water 2.5 acres 55K each..definately well bought..Any idea of market values??
If I remember correctly, assessed values are close to $80,000 and $145,000 respectively.
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I would like to get this started by nominating roll#491802000730025
and #491803000145210 in Kearney Oct 16.
House w/ acres.
New cottage on water.
For 55k each. Nice package!(as he bought both).
The deals have been pretty few and far between the past few years.. but I'd have to agree that it seemed like that one was one of the best. The house with acres not so much (I have a cottage in the area and have seen houses that were arguably nicer on an acreage go for close to 70k believe it or not in the past year) .. but the cottage on the water is a deal for sure.
Seen a few close ones where a property was redeemed on the last day that would've blown away that Kearney deal. But you know the saying.. close only counts in horsehoes and hand grenades.
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The $55,000 cottage seems like a great deal, considering a couple of weeks ago a waterfront lot in Kearney went for 80K at a tax sale. I think in the next year there will be a lots of great deals on the more expensive parcels, say 50K and up. Too rich for small timers like me but still fun to sit back and watch.
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I doubt there is going to be a big upswing in taxsales since it takes 4 years for a property to be put to the hammer, Maybe a few less redemption's. The deals will be sheriffs and Power of Sales. In the early 90's there were commercial deals at 30 cents on the dollar.
This market will probably see alot of condo's and small houses that bought on the zero money down or 40 year plans and the big ticket flipping idiots who either hoped to screw a sucker or the morons who bought their overpriced junk .
Oakville --over 300 homes asking 1 million plus ...4 years ago 20
Clue that its overpriced..subzero fridge.
The middle of the road 350 to 500 k houses shouldn't be kicked too bad and anyone in them wont care since they aren't flipping
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PFM
What you say makes alot of sense. Your comment about the 300-500k middle of the road houses reminds me that Oakville and Toronto are in another world from Niagara where people work for $15 bucks an hour and half decent houses go for 200K. When I see those old run down houses in the beaches going for 500K I just don't get it.
Where do these people get the money. Is everybody making 200 grand a year???? The people could sell that big mansion in YYZ and move to Welland and never work again. I know there might not be a Starbucks on every corner but we get by.
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Muskoka, Port Carling
Winning bid: $24,669.00
Roll Number: 44 53 050 007 00801 0000
Minimum Tender Amount :$8,825.08
Assessed value $50,000
Property size 0.60 AC APPROXIMATELY
Is this property accessible by a public road? YES
Zoning COMMUNITY RESIDENTIAL
THIS PROPERTY IS LOCATED BETWEEN 58 JOESPH AND 56 JOSEPH ST.
Lost it, unfortunately put a bid on the one that was redeemed.
Larry
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" move to Welland and never work again. I know there might not be a Starbucks on every corner but we get by."
Unfortunately thats the problem..move to Welland and never work again..even if you wanted to..
Seriously Welland is a real nice town but the has to chase the retired people more, forget industry . Bad catch 22 down there ,very nice downtown but very few businesses can survive on the people in the town, people wont move to town if there isnt a nice downtown..
It seems to be doing ok but will take a bit of a kick from the deere closure..but at least now the people know they can forget the blue collar life and look to a realistic future...old people, golf courses , clean air and lifestyle... beats pickups, trailer park trash getting pregnant at 15, foundrys and contaminated soil
There is a pile of nice houses going up outside of town so Welland will probably end up being a very nice place in the next couple years.. and the starbucks..who wants them..the cafe beside the old theatre is nice and has way better coffee then a starbucks.
Back to the subject in hand....Collingwood.. There was a knockdown house that went for 55 K, seemed like a good deal as I would think that the lot was easily worth more then 120. I never looked at it so I could be off in lala land on my value . Did anyone get a look or picts?
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PFM
What you say makes alot of sense. Your comment about the 300-500k middle of the road houses reminds me that Oakville and Toronto are in another world from Niagara where people work for $15 bucks an hour and half decent houses go for 200K. When I see those old run down houses in the beaches going for 500K I just don't get it.
Where do these people get the money. Is everybody making 200 grand a year???? The people could sell that big mansion in YYZ and move to Welland and never work again. I know there might not be a Starbucks on every corner but we get by.
Yes I've heard similar statements like that before.. "sell that Toronto house, move to the boonies (or Niagara) and retire". It's not really that simple. You need to compare apples to apples, meaning compare the quality of life difference. If quality of life wasn't an issue, then why doesn't someone in Welland sell their 120k house, become homeless living on the streets of Toronto and then retire? ;)
Just because a decent Toronto home is 600-700k, don't forget that the family living in it is typically making 150k a year at the lowest end of the scale. I know in Welland its about 10% of that at the lower end of the scale.
Incidentally, many "locals" in cottage country seem to be going that route of trading down by selling their now valuable properties and moving to Elliot Lake.
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In 2007 I won my backlot property near Chandos Lake being the lone bidder. Paid less than 3k for a 2/3 of an acre. Assesment was $1600 because nothing was allowed to build. This year someone won the rezoning battle. A while ago I received a letter from MPAC. The assesment is now $4900. There is a private road to it.