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   Author  Topic: Market Correction  (Read 670 times)
Mark Tang
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Market Correction
« on: Jun 14th, 2017, 3:03pm »
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Seems like the market correction has hit Cornell. There is currently a lot of supply and very little sales activity.
 
A recent semi on Cornwall, 2 years old with double garage only sold for 850k. By comparison, the house beside it, vinyl siding, same 3 bedroom 2.5 bath, sold for 1.03m in March.
« Last Edit: Jun 14th, 2017, 3:04pm by Mark Tang » IP Logged

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bartimus
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Re: Market Correction
« Reply #1 on: Jun 19th, 2017, 1:19pm »
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not surprising. The lest few months leading into April/May were toxic and the market was becoming unsustainable. I personally welcome a correction so that the market becomes somewhat healthy again. I just hope it doesn't crash altogether Smiley
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Mark Tang
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Re: Market Correction
« Reply #2 on: Oct 25th, 2017, 2:27am »
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Detach on Cornwall just sold for only $970!
 
Back in the spring, a few semis on that same stretch sold for over 1m!
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Irishman
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Re: Market Correction
« Reply #3 on: Oct 26th, 2017, 10:10am »
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Hello Mark,
Why a home sold for more than another with same bdrm/bthrm count etc, you have to take into consideration if the interior of the homes have been updated since they were built.  So, you can't just look at the exterior of a home comparing brick to siding.   Mass improvements inside can add a tremendous amt of value to the resale of the home.  
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Mark Tang
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Re: Market Correction
« Reply #4 on: Nov 23rd, 2017, 12:25am »
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on Oct 26th, 2017, 10:10am, Irishman wrote:
Hello Mark,
Why a home sold for more than another with same bdrm/bthrm count etc, you have to take into consideration if the interior of the homes have been updated since they were built. So, you can't just look at the exterior of a home comparing brick to siding. Mass improvements inside can add a tremendous amt of value to the resale of the home.  

 
Yes I agree. However these were all from the new cornell village. There has been a correction nonetheless.
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