These Losses Are Getting Insane! (York Region Real Estate Market Update)

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In this episode we take a look at the current Vaughan Home Prices, Richmond Hill Home Prices & Markham Home Prices and real estate market trends for week ending April 3, 2024. We also discuss why buying right is one of the most important things in real estate. No one can predict when what the market will do but overextending yourself to the extreme could cause some really big issues down the road.
This video will focus specifically on Vaughan, Richmond Hill & Markham but be sure to SUBSCRIBE for more reports on other areas!
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Santo Sessa & Daniel Sessa
Re/Max Premier
(647)560-7778
santo@teamsessa.ca
*This video, nor any of the other videos on the Team Sessa Real Estate RU-vid channel, do not constitute legal or financial advice. This is strictly intended for educational and entertainment purposes only.

Опубликовано:

29 сен 2024

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Комментарии : 55

@roadmap999 5 месяцев назад

Easy to search/filter via House Sigma and figure out this house was 47 Grand Vellore Cres. What a nightmare.

@ianwally818 5 месяцев назад

At 3.4 mill, it’s still the highest on the street.

@aaronxie1227 5 месяцев назад

On paper the loss 1m, off the books they laundered 3.Xm

@nb1638 5 месяцев назад

how is it possible? can you please explain in detail?

@walterpen371 5 месяцев назад

@@nb1638Even more important is WHY MONEY LAUNDERING WAS ALLOWED IN THIS COUNTRY??? Ask all hard working people if they enjoy bidding or throwing away their money???

@lennyl6856 5 месяцев назад

Do money launderers charge 23%? Seems rather steep. Then again, it might be worth it if the original $4.3 million was all from ill-gotten gains anyway.

@aaronxie1227 5 месяцев назад

@@nb1638 if I knew, I wouldn’t be sitting here watching RU-vid on the real estate market, but based on the news it does happen. Perhaps Santo can explain it so we can both become criminals

@upsyndrome 5 месяцев назад

Successful money laundering?

@yummymommy4717 5 месяцев назад

Money laundering perhaps! Real estate and casino are Canada's laundromats!

@dabig_guy2204 Месяц назад

😂😅😂😅Is anyone else thinking the same? This was the case of money laundering and they just cleaned $3.4M If you have $4.3M to buy a house, why would you sell it at a significant loss unless you have other illegal motives?

@Kelly_kit16 5 месяцев назад

Congrats to them.. They just laundered 3.4 million in Canada.

@teamsessa 5 месяцев назад

Perhaps 🤔

@Matt-YT 4 месяца назад

Snow washing is a real problem. Canada is a great place for criminals looking to hide or launder their money

@GreenBeanGreenBean 5 месяцев назад

Easily the dangers of having a realtor that tells you to go into a bidding war to get the house............when you most likely can get a brand new house from a builder for less money. And yet how many realtors will slide you into the better product for the same price.... not many.

@nunol1554 5 месяцев назад

I just saw a house with 5 acers in north of richmound hill sold for 3.2 million in 2017 and then sold for 1.95 million in 2020 wtf

@teamsessa 5 месяцев назад

It happens.

@danielimpera1877 5 месяцев назад

See if the lot size changed. Many times they sever part of the lot and that’s why you see the decrease in price.

@mikedennington8856 5 месяцев назад

Sounds like a nasty divorce scenario with that house lose.

@nbellis4396 5 месяцев назад

How many washing machines did each floor have? They must have been in the backyard, garage, basement, attic, roof...

@teamsessa 5 месяцев назад

And closets.

@OptimisticMansion-yl1wq 4 дня назад

Real estate will be the worst investment for the next 30 years. Bitcoin will absorb all investment capital.

@IvansBikesBmws 5 месяцев назад

Insanity... I see this often with homes 5M - 10M.

@andrewmccoll1582 5 месяцев назад

What do people even do at this point? It's just bankruptcy?

@boballen3055 Месяц назад

Money laundering Any idiot can understand that Enough said😂

@nikhilrodye8226 Месяц назад

this is the case of money laundering plain and simple

@petert1692 2 месяца назад

Greed should not be encouraged. Make your bed….

@BellaBella-jw9ef 5 месяцев назад

At least they didn’t burn it down

@Carolinapetroska 5 месяцев назад

How can people make such stupid decisions twice ? Was it just to impress the neighbors or what ? I see many sellers who just bought in 2022, probably miscalculated their true monsly expenses, can't make the payments and are all selling at huge losses now because the market has changed.

@roadmap999 5 месяцев назад

If they needed a way to clean $3m+, this was a perfect way to do it.

@anotheran 5 месяцев назад

I would love to be the real estate agent for those ppl who lost $1M

@tonysC8 5 месяцев назад

WOW ! Thats unreal ... You know in some cases people go buying these mansions ... playing the shooter ... but you look in their refrigerators and they have nothing to feed their kids . As for story #1 ... God bless offer night and those who engage it particularly on the buyers side ... are simply fools

@alanmcclelland5245 5 месяцев назад

Hold my Tide, I don't mind paying way over.

@KrisH-yv8nu 5 месяцев назад

I had a client lose a Million on a house in 2015! The owner of their new house also lost a million, I guess it was a trade off!

@teamsessa 5 месяцев назад

That’s a lot of money to lose.

@butwhytharum 4 месяца назад

Gotta love leveraged purchases.

@FionatheFiend 2 месяца назад

The funniest is when people claim ownership of a property or something that is leveraged (house, car, etc) and are convinced that it really belongs to them. I do correct some of these people and politely let them know it's the lenders property until it's fully paid off. Some of them gets offended and I'm suddenly a bad person. 😂 The worst are some people do not consider a mortgage a debt. What planet are these people from?

@southhillfarm2795 5 месяцев назад

Sell it in 2026 it will be worth 1.5 mil. Save this comment and remember 2026.

@divinee.155 5 месяцев назад

😂😂😂 it pays to serve the most high...learn this the government goal is to take everyone house because he who controls ur food water and shelter, they control u. The government is going for full control. Only fools borrow money!!!!. I can tell you this cause 1. The government is narcissistic and so am I and I am the queen of manipulation so I can spot a scam a mile away. I own 4 houses all bought cash in Canada I have one that is 100% no Bill's at all. The government wrote me a letter asking to buy it why do u think? They cant bankrupt me as the do to the fools that borrow money so all they can do is ask me politely cause they realize I cant be controlled.

@AmolGharat 5 месяцев назад

So the owners paid 1 million + interest on mortgage in rent for 2 years 😄

@roadmap999 5 месяцев назад

Why do you assume there was a mortgage.

@butwhytharum 4 месяца назад

@@roadmap999 Why spend your own money when you can use the banks...

@louismartin4446 5 месяцев назад

Simple: it’s called mafia money-laundering….not sure you are as sharp as you think….(just cleaned 3 million plus)

@kidstubi 5 месяцев назад

Loved this video!! Great job 😊

@teamsessa 5 месяцев назад

Thank you!! 😊

@deezed150 5 месяцев назад

3.5 hrs to review 2 offers - 20 minutes top and taking your time I would think and then review before putting pen to paper

@mattanderson6672 5 месяцев назад

Thank you

@dougiep2769 5 месяцев назад

Actually ask anyone in the world it was predictable. The most inflated housing market on earth and least affordable. Of course it was gonna drop like a stone.

@DrLusEnglish 5 месяцев назад

York in which state please?

@TheUrbanAgvocate 5 месяцев назад

State of despair.

@DrLusEnglish 5 месяцев назад

@@TheUrbanAgvocate Ohio?

@markmartin7384 5 месяцев назад

Ontario, Canada

@GabeBridges 5 месяцев назад

Let me throw this out there - devil’s advocate take on the people who “lost” $1M on the home in Vaughan: They purchased the home outright in 2022. I’m assuming many do or can at least afford to at this price bracket. They found a home in 2024 that was $8M at the peak that also dropped by 25% down to $6M - they saw that as an opportunity and bought it. So, who knows, maybe they did in fact lose $1M but equally possible that they made $1M. It’s only a real loss if they completely cashed out of this market or downsized. Thanks for the content.

@vert911 5 месяцев назад

Santo - you talk about "buying right", but I hope you will not tell everyone who purchased a property in 2020, 2021 and 2022 they didn't "buy it right" if and when in the near future there is a big economic shift in Canada that leads to additional price decline on top of what we've already seen.