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Topic: General Feeling (Read 14366 times)
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WillScot
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General Feeling
«
on:
February 05, 2008, 12:40:35 AM »
Hello all. Although I am new to this I have some background knowledge. The one thing I find interesting is that for all the land in Ontario very little appears to be for sale. I was wondering if anyone knew if this is a result of lack of market or simply people don't want to give it up? Not to mention the government owning 80%ish.
For my personal interest, I am after a nice plot of land that is forested, preferably with lots of rocks (don't ask - GF still rolls her eyes), and able to be built on. We want to find a nice area for our permenant home to the tune of 5-50 acres. If anyone does have any pointers as to how to find and such feel free to drop me a line; the information would be appreciated!
Best of luck all.
M.
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Pfm1011
Senior
Posts: 948
Karma: 63
Re: General Feeling
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Reply #1 on:
February 05, 2008, 01:37:20 AM »
Tons is for sale, but they are dreaming on prices. Land worth less then 500 an acre two years ago has been hyped to 10K by realtors and the cottage frenzy.
Good Place to look for land is ICX.ca which is the commercial listings, but be forewarned that the prices are insane in the cottage areas. I have seen pieces that are for sale for 500k for 2 years and don't move , someone buys it and re lists it for 1.8 million hoping for a sucker.
Land up north is like sand grains on a beach , but idiots are buying it , or listing it anyways like it is gold. I think you will see it loosen up as the US is in trouble and muskoka and them have passed all levels of sanity and everyone is just shaking their heads. Most lakes now have less frontage then city lots. "Go to Toronto to get away from the neighbours"
I was in on a deal last fall ( not so much "in" as I got my butt kicked ) , 1100 acres in Kingston bought in 1983 for 86K , Listed for 2.4 million as a joke essentially, Everyone laughed ( even the agents) ... .. sold for 500k over ask "cash". Which is insane but 1100 acres is a nice rare piece so there is some value due to the rarity of the size .Now everyone in the area is asking 1 million for 50 acres in the area..seems that 5% of the land size is worth half the price even though 50 acre pieces are a dime a dozen.
My personal favorite is 2 years ago no hydro was a negative. Now the realtors are marketing it as a "off the grid lifestyle".
Friend of mine bought 1400 acres in Gravenhurst for 400K 2 years ago, Now 100 acres is a million asking. The north is not measured in days on market, it is years on market . of course the realtors never tell you the truth about how long it has been on the market.
By the way..Lots of rocks...Thats the shield and thats what is hot ..Rocks, ferns and white pine and the occasional moose in the yard. ( Of course dont forget black flies and mosquito's the size of pterodactyls)
What area are you looking in and whats the budget??
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Last Edit: February 05, 2008, 01:42:06 AM by Pfm1011
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speedfreeksteve
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Posts: 249
Karma: 14
Re: General Feeling
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Reply #2 on:
February 06, 2008, 01:52:55 AM »
Most of the 80% the government owns in not exactly prime property. Other than within the boundaries of a provincial park, you would have a tough time finding much desirable crown land in cottage country for example. Most of it has been sold off to private people.
It would be helpful to note where in Ontario you are looking. Ontario is bigger than most countries.
I think in the situation you're looking for though, a tax sale property may be a good choice if you're lucky. Why the focus on crown property though? There's thousands of good properties in Northern Ontario up for sale at any given time. Just hit the real estate websites. mls.ca is one.
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