Faux chateau

fat cat modified

Who doesn’t like a little house porn? So when Michal Cerny wanted to get rid of his turkey house in soulless Mississauga, Kashif Khan had just the strategy. Let’s create a storyline: Lame rich guy spends massive money to build a castle in the wrong place, and now is about to get hosed at auction.

It was perfect. Lots of porn ($1million spent on marble, 1,600-foot bedroom, wood-panelled elevator), a wealthy weenie with a weird name getting squished, and a housing bargain. It all worked. The looming auction of 2290 Saxony Court, and all the handout photos of excess, have garnered headlines from coast to coast. The house valued at $11 million, readers and viewers were told, may actually sell for 50% off. Cerny will be decimated. Right on, bro. Up the proletariat!

Of course, things are never as they seem.

First, the house. This is how it’s been marketed around the world by Khan’s Ritchie Brothers auctioneers – a French chateau obviously sitting on expansive grounds in an appropriately brooding, solitary grandeur. Just imagine the large staff of gardeners and arborists…

MANSION SHOPPED

And this is how it really looks – a giant pile of white stones on a 43-foot lot sitting on an utterly suburban cul-de-sac. Yes, that’s the neighbour’s driveway in the foreground. And that’s the other neighbour’s Stepford Wives special on the far side. These are places that hardly break the million mark, and probably need new windows. Always remember Garth’s Fist Rule of Purchasing: buy the worst house on the best street. And I don’t mean taste. (By the way, after dutifully publishing all the Mississauga house porn, the Toronto Star now has second thoughts.)

MANSION modified

Then there’s the issue of location. When international bidders sign on to the January 26th event, will they know where Saxon Court lies? Let’s hope so. Otherwise they’ll be shipping a whack of dough over from Dubai or Iran to acquire some digs two blocks north of the Queen Elizabeth Way – the second-busiest expressway in the country, whose six lanes are clogged morning and night with bully truckers and kamikaze commuters.

QEW 1 modified

Finally, what about this ‘half off’ stuff that Ritchie’s has been feeding our house-lusty media? Who said this monstrosity was ‘worth’ $11 million just because Mr. Marble once had that as the Re/Max-approved asking price? In reality it cost about $6 million to build, and was most recently listed in the $7 million range. Word has it that only serious offer (which collapsed) was for around what Khan now claims is 50% off.

But who knows? Maybe there’s an idiot rich dude somewhere who actually believes what he reads in the Toronto Star or the Vancouver Sun. I have my thoughts on what this white elephant will fetch when the hammer comes down. Now, tell me your estimate. The person coming closest gets a Greater Fool Memorial Cut-off, Soiled Leg Cast, suitable for trophy mounting in your 20-seat media room.

***

Speaking of legs, my surgery is early next week, which necessitated another day of tests, and waiting, at the hospital on Friday. After that, a month before any weight can be applied, then a slow recovery, which is pushing this thing damn close to the start of riding season.

Meanwhile I’ve been overwhelmed at the expressions of support and the good wishes posted on this pathetic blog in the past day. Given that I usually hear the most from social outcasts, doomers, gold nuts, Tea Party whackjobs and house-humpers, this was delightful. Ten thousand realtors read that, and wept.

259 comments ↓

#1 Derek R on 01.17.14 at 6:52 pm

The realtor should definitely be given an award or something for the masterly job he’s done here.

#2 Forzudo on 01.17.14 at 6:53 pm

$2.3 million is my bet for the selling price; exactly what the rich think they need to retire.

#3 P.Bocanegra on 01.17.14 at 6:58 pm

Hope you get well soon. And pity the moron who spends 12 mil on that pile of gaudy crap.

#4 Victoria - the original on 01.17.14 at 7:03 pm

Have a speedy recovery Mr. Turner!!!!

I would say $2 million but I bet someone idiot will buy it without looking at it.

Can’t wait …. ha ha hahaha!

#5 Habitt on 01.17.14 at 7:15 pm

Best wishes on your recovery. Had a bad ankle break years ago and the therapists were great but pushed me a little too hard to fast. Broke 2 pins helping hold the ankle together and needed more surgery. Do take care during this time. If it doesn’t feel right say so.

#6 will on 01.17.14 at 7:17 pm

9.2 million

#7 DM in C on 01.17.14 at 7:19 pm

I agree with Forzudo, but since his guess is registered, I’ll say $3.8Mil

Good wishes for your surgery and speedy recovery.

#8 Kilby on 01.17.14 at 7:21 pm

I’m too small town to see why anybody would spent money on something this tasteless, so many beautiful homes when one gets into the multi million category out there. I’m guessing 2.3 million but would not be surprised if there were no takers. I wonder what the property tax hit is on this embarrassment to architecture ?

#9 mitzerboy on 01.17.14 at 7:21 pm

garth… so long as your dog can get close to you and give you some wet nose love while you are healing then you will be okay

#10 Longterm on 01.17.14 at 7:34 pm

Sadly, $3.82 million.

Or you could by the real deal for a fraction of the price:

http://www.chateaux-et-domaines.net/

Some are less than and East Van tear down.

#11 TheCatFoodLady on 01.17.14 at 7:41 pm

First the house… I’m going to guess it will go for $4,976,000.00. And I’m not mounting it in my media room – those are so last decade. It’s going in my purpose built gift wrapping room.

You’ve got the weekend & hopefully Monday to take care of business; personal & work related. Don’t plan on being useful until roughly the 27th. At least you can work by phone/net with some of your clients.

Once physio starts working their magic you’ll make good progress. Ask to speak to a registered dietician at the hospital about the kind of diet you need to promote healing & ask if you should take any specific vitamins or other supplements. Bike riding season will keep you motivated.

Post op – about a week or so – don’t be surprised if you feel some sort of emotional let down. That’s when all the ‘excitement’ fades & the reality of the work ahead sets in. It’s also demoralizing to find yourself so dependent on others for the simplest stuff. The down feelings will pass.

Accept offered help, including anyone offering to spend time with you early on, (babysit), so Dorothy can get out for a few hours & not worry how you’re doing. And if you’re not feeling well or doing well, don’t bother lying to her about it – Bandit will let Dorothy know – our cats/dogs do that, no matter that we wish they wouldn’t.

#12 mark on 01.17.14 at 7:41 pm

Get well soon.

#13 Robbie on 01.17.14 at 7:46 pm

When you see all those wonderful Real Estate photos you need to ask yourself “What am I not seeing?” If the photos are mostly of the exterior, you should be worried about the interior. If there are closeups of the home but no distance shots, then worry about the lot, the neighbours or the grounds. Also, check every property on Google Maps and Street View.

#14 Mrs Riverview on 01.17.14 at 7:52 pm

My guess: it won’t sell at auction on the 26th.

#15 My thoughts on 01.17.14 at 7:58 pm

My guess it won’t sell on auction… Because the highest bid will be 2 million unless some over seas person says buy it… Could be someone Arabic based on who is buying the other homes in the area. Can’t wait to watch.

#16 45north on 01.17.14 at 8:00 pm

get better Garth. CatFoodLady knows more than me, sounds like good advice.

290 Saxony Court: $4.3 million

It ( Saxony ) is the tenth-largest German state in area, with an area of 18,413 square kilometres (7,109 sq mi), and the sixth most populous of Germany’s sixteen states, with a population of 4.3 million.

http://en.wikipedia.org/wiki/Saxony

#17 Nat on 01.17.14 at 8:08 pm

I bet it doesn’t sell at all

#18 Bob Rice on 01.17.14 at 8:10 pm

$2.95 mill

#19 Chris L. on 01.17.14 at 8:11 pm

Let’s try $3.25 million.

#20 Bob Rice on 01.17.14 at 8:12 pm

How large in the lot?

#21 Buy Low Sell High on 01.17.14 at 8:15 pm

Here we see a pic that shows a dead cat that won’t bounce! Just like Saxony Court won’t sell next week.

He’s resting. — Garth

#22 Arse on 01.17.14 at 8:16 pm

$2 million.

#23 ILoveCharts on 01.17.14 at 8:22 pm

$6.8 million.
I’m not saying that’s what it’s worth but that is what it will go for.
Good on them for selling today instead of next year.

If I win, you can keep the cast (no offense.)

I wish you all the best for your surgery.

#24 west coast on 01.17.14 at 8:22 pm

http://hookedonhouses.net/2010/11/14/the-money-pit-tom-hanks-shelley-long-buy-a-fixer-upper/

This house looked pretty good too – check it out!…..seriously….out here on the west coast ll million is peanuts…my friend’s old ‘tear down’ …..yes it was ‘on the water’ and yes it had ‘the view’….sold for around 15 million a while back. I imagine the next house that goes up will be ‘worth’ at least 22 million.
My guess for 290 Saxony Court is 3.8 million.
You take care Garth….follow the doctor’s orders!…we will do our best to entertain you as you have certainly gone above and beyond to entertain and inform us. Many thanks….

#25 Knosty Knickerbockers on 01.17.14 at 8:25 pm

Fails to meet reserve price.

#26 The Patient on 01.17.14 at 8:29 pm

I say low-$3 million range, at best. Proximity to the QEW is actually a plus… for a driver… or rider.

Heal quick, Garth. Get a top-of-the-line “airboot” cast and you’ll be riding by June, maybe even May.

And, by the way, was it your right or left?

#27 eddy on 01.17.14 at 8:30 pm

Its 2290 Saxony. I’ll guess 6 million, but it’s not a 6 million street or even area. Rich people always want to know “who lives next door”? So this house may suffer. Other problems- not enough land, and No pool. The house is way too good for the lot or the area

#28 Dave B on 01.17.14 at 8:30 pm

1.74$ million

#29 Nemesis on 01.17.14 at 8:32 pm

Hey, that’s Schrödinger’s KittyKat… and clearly, he’s in a state of quantum superposition.

Did you find him in the nuclear imaging department?

#30 Mutley O'Toole on 01.17.14 at 8:33 pm

Ten thousand realtors read that, and wept.
More like ten thousand a****oles were bared to the mid-day sun.
Anyone guess what that line is from?
Maybe Garth will give the winner a second prize; his x-rays?

#31 Macrath on 01.17.14 at 8:38 pm

I`ll say no greaterfools at the auction

These two are running years on the market with actual parkland water front and architectural hardware imported from France.

under 3.5m

http://www.realtor.ca/propertyDetails.aspx?propertyId=12871862&PidKey=-50364210

http://www.realtor.ca/propertyDetails.aspx?propertyId=13858836&PidKey=-2061400479

#32 Financial Poodle on 01.17.14 at 8:39 pm

My guess… It won’t sell at all but languish on the market for at least another year. And in lieu of the cast, I’ll take s copy of the x-rays to put on the wall of my panic room. ;-)

#33 shane on 01.17.14 at 8:40 pm

Garth, it will sell for 6.5 million

#34 Mike Passmore on 01.17.14 at 8:41 pm

Best wishes for a speedy recovery Garth! Get well soon.

#35 frank le skank on 01.17.14 at 8:41 pm

1 billion dollars!!!

I’ll meet you at the corner of Yonge and Dundas on Jan 27th to claim my prize. I’ll be sporting my skinny jeans, army issue boots and studded leather jacket.

#36 Daisy Mae on 01.17.14 at 8:44 pm

“After that, a month before any weight can be applied, then a slow recovery, which is pushing this thing damn close to the start of riding season….”

***********************

Yep, you’re liable to be screwed for awhile…just follow the docs’ orders! :-)

#37 HD on 01.17.14 at 8:46 pm

@ #11 TheCatFoodLady on 01.17.14 at 7:41 pm

I have to say…you are a hell of a lady.

You are a great addition to this blog (I suspect Garth agrees with me as well).

Garth,

Feel better.

Best,

HD

#38 A reader on 01.17.14 at 8:47 pm

The lot is 42.85×179.27 FT , if this in Manhaton, maybe, who will buy this piece of land for 11M in Mississauga? washing money?

Get well Mr Turner. Thank you

#39 Jeff in Leaside on 01.17.14 at 8:48 pm

#21 Here we see a pic that shows a dead cat that won’t bounce! Just like Saxony Court won’t sell next week.

He’s resting. — Garth

Pining for the fjords? What kind of talk is that?”

#40 amazon girl on 01.17.14 at 8:49 pm

YOU ARE BACK…CAN’T LIVE ANOTHER DAY WITHOUT YOU . WHO CARES ABOUT HOUSES WHEN WE HAVE GARTH.MY GUESS IS 5.2 MILLION FOR THE FOOLS.
GET WELL SOON….

#41 Peter on 01.17.14 at 8:51 pm

I bet it goes for the price of the worst house on that street + $100,000 Mr Barker ,)
Ok, just Google Mapped the house using “Streetview”, what a difference of perspective!
$1.5 Million to the sucker in the 3rd row.

#42 Orwell on 01.17.14 at 8:52 pm

$4.888 mil. There is nothing quite like good round even numbers.

Best of luck with the recovery.

#43 Hush Puppies on 01.17.14 at 8:53 pm

“…Given that I usually hear the most from social outcasts, doomers, gold nuts, Tea Party whackjobs and house-humpers,…”

Gee Garth, just when I was beginning to like you.

#44 Bob Rice on 01.17.14 at 8:54 pm

http://business.financialpost.com/2014/01/17/toronto-condo-market-prices-urbanation/?__lsa=efaa-9ccb

#45 The Patient on 01.17.14 at 8:54 pm

#26 (me): “And, by the way, was it your right or left?”

Because you didn’t answer, I must assume it was your left leg, which for a motorcyclist, is shifter side, and so…not the preferable one to have an airboot on.

Still, you should be able to rig up some contraption.

#46 Serpico on 01.17.14 at 8:56 pm

3.2 million
Hope you heal quickly.
Your blog is legendary! Thanks for being so dedicated to the blog readers.

#47 Frikkie on 01.17.14 at 8:57 pm

Buy Low Sell High: Now that’s what I call a dead cat.

Garth: No, no…..No, ‘e’s stunned!

Get well soon Mr. Turner.

#48 Ontario's Left Coast on 01.17.14 at 9:00 pm

$4.45 million. I wonder how much that cast will fetch at auction when you’re through with it!

#49 Bricklayer on 01.17.14 at 9:01 pm

$2,355,000

#50 bigtown on 01.17.14 at 9:03 pm

God Bless and keep you around to help us manage our finances. It is true about being in your moment and not wasting the day. That area of Miss. is beautiful but the best tends to be south of the QEW but most TO folks are blind to the roaring beauty of the Port Credit area south of the QEW. It really can outshine the Bridal Path and Forest Hill.

#51 D.I.Y. Dodo on 01.17.14 at 9:03 pm

HI Garth.

Wishing you a speedy recovery. I noticed a guy at work reading your blog. I think you are starting to mainstream!

#52 Gord on 01.17.14 at 9:05 pm

Hi Garth I hope you feel better soon…sorry for your mishap. I enjoy reading your blog every day. Good luck!!

#53 LottoMAX hopeful on 01.17.14 at 9:06 pm

Google maps shows hows it was quite literally WEDGED into the plot of land. There seem to be enough back yard for a pool, and just enough room on the side to move the lawnmower from front yard to back yard.

I’m surprised the price doesn’t have “888” in it.
Wrong market?

#54 bill on 01.17.14 at 9:07 pm

I agree: fails to make reserve.
Garth do you feel as cooped up as that rare norwegian blue lying inside the cardboard box?

your not pining for the fjords ,I trust?

#55 sheane wallace on 01.17.14 at 9:11 pm

gold nuts havehad a great day, junior minors up 6 % for the day, 18 % ytd in just 2 weeks.

Nuts?
I don’t think so.

#56 Daisy Mae on 01.17.14 at 9:14 pm

“Now, tell me your estimate.”

********************

This house doesn’t appeal to me at all…at any price! The lot and location are very detrimental. If you say the others are worth around $1 million, I would guess this monstrosity wouldn’t garner much more.

#57 KG on 01.17.14 at 9:14 pm

3.9 mil

#58 Son of Ponzi on 01.17.14 at 9:19 pm

Just finished reading “The Buy Side”. by Turney Duff.
A Wall Street Trader’s Tale of Spectacular Excess.
Recommended reading for anyone recovering from a broken leg.
All the best.

#59 Don on 01.17.14 at 9:21 pm

I’m with others, it won’t make a reserve. And, since it’s had media attention leading to the sale, perhaps it’ll create a couple of days of lazy “Has the bubble burst?” headlines.

Seriously, it’s nice the realtor’s marketing managed to get a bunch of attention for the house and probably captured the eyes of a lot of prospective buyers that otherwise never would have noticed it. But would anyone actually spend that amount of money sight unseen? Wouldn’t those buyers at least be savvy enough to check Google maps street view without prompting from this blog?

#60 Tony on 01.17.14 at 9:21 pm

The word’s out on Toronto area real estate and Canada wide for that matter. Couple that with the falling Canadian dollar at least at this time and likely no bids for the house will come from abroad. The miniscule lot the house sits on assures that. Mississauga real estate is falling in price but due to lunatics that still buy there the city hasn’t gone into a full-fledged free-fall just yet. The seller missed the peak by about 6 months.

#61 Rsteele on 01.17.14 at 9:22 pm

Ouch! Hope you feel better and start healing up soon.

I would guess this over priced puppy goes for about 4.25m. Some idiot’s going to start bidding it once the bidding frenzy starts.

Take care

#62 T.O. Bubble Boy on 01.17.14 at 9:25 pm

I’m with most of the posters here tonight — that faux chateau is not selling this round.

A few more reductions, and maybe someone finally bites.

Why would there be any urgency to jump at some completely out-of-place monstrosity in Mississauga?

#63 Tib Fib on 01.17.14 at 9:29 pm

I bet that the mansion won’t sell, receiving no bids above reserve. Others have said about the same thing, they can share the spoils.

I hope you have a speedy recovery. You may want to look at duolingo.com and start a new language if you have some downtime. It’s also a much safer hobby. In the biz we call them donorcycles.

#64 goodyniosi on 01.17.14 at 9:31 pm

$4 million

#65 T.O. Bubble Boy on 01.17.14 at 9:32 pm

Maybe someone is trying to exchange a bunch of Bitcoin, since Canada just declared it “not currency”?

http://blogs.wsj.com/canadarealtime/2014/01/16/canada-says-bitcoin-isnt-legal-tender/?mod=trending_now_4

I’ve had some revelations on Bitcoins in the past little while… I like the ubiquitous electronic exchange concept, but the actual Bitcoin concept is completely pointless. Bitcoins are essentially “cyber art” — like a limited edition print from an artist, only produced by CPUs running mining algorithms instead of a printshop.

Think about it — art is valued at whatever someone is willing to pay for it (like Bitcoin), is produced by a process that is hard to duplicate (like a skilled artist making a painting/sculpture/etc.), is exchanged at auctions where the results are made public – just like the public journal that is kept for Bitcoin, and is essentially a collectible.

#66 T.O. Bubble Boy on 01.17.14 at 9:33 pm

(ok – I didn’t explain that clearly, but you get the point)

#67 Dual Citizen in Canada on 01.17.14 at 9:36 pm

Schrodinger’s cat in a box; Schrodinger’s house in a lot.

#68 waiting on 01.17.14 at 9:37 pm

I’ll guess 4.25 million if it sells, which I think it may not.
If I win, I’ll be gracious and pass the prize on to the runner up.
The mls posting says the lot is 42×180 – seems weird that you could build so big on a lot that size.
There’s a much bigger lot a few blocks away (78×135) listed for $799,000. You could buy that and build your own faux chateau for a couple of million.

#69 mid on 01.17.14 at 9:40 pm

Hey Garth
Hope they are treating you well at Sunnybrook. I’m up there on Saturdays to visit my Dad. If there’s something you need, let me know.

#70 James on 01.17.14 at 9:41 pm

Dude, the house is so far away from QE it’s not even funny.

Seriously, get well Garth! Hope you recover fast!

#71 Andrew Woburn on 01.17.14 at 9:47 pm

DELETED

#72 I'm stupid on 01.17.14 at 9:50 pm

$5.65 million

#73 Andrew Woburn on 01.17.14 at 9:51 pm

#53 LottoMAX hopeful on 01.17.14 at 9:06 pm

I’m surprised the price doesn’t have “888″ in it.
=======================

888 doesn’t add up to”goombah”

#74 walltiger on 01.17.14 at 9:53 pm

i fell from my motorcycle in 09 and broke my ankle too, took three month to heal and till this day still hurts a bit when i walk. no matter, looking forward to go to Italy in the summer for a 9 day motorcycle tour. Hope you will heal better then i did Mr.Turner and enjoy your riding this summer.

#75 KC on 01.17.14 at 9:57 pm

I’m guessing 6, 255 500.00 just because of the additional media hype. Wow…property taxes are almost 50 000!

Garth,

Get well soon!

#76 tess on 01.17.14 at 9:58 pm

CatFoodlady, you are wonderful.

Take care of yourself, Garth, and get well soon!

#77 tom on 01.17.14 at 10:00 pm

check it out on streetview.
The owner is a realtor…look at the name on the for sale signs

And nothing says classy mansion like a red monster truck in the driveway

Are those truck nutz??

Lolz

#78 A Yank in BC on 01.17.14 at 10:06 pm

Average high temp in lovely Mississauga next week somewhere around -13C. Why anyone with multiple millions to spend on a home (anywhere they wish, I presume) would spend it there is an unsolvable mystery that defies any possible explanation.

$3,755,000.00

Best wishes with the surgery. Ice Cream after it’s over?

#79 AfterTheHouseSold on 01.17.14 at 10:10 pm

Was yesterday the tipping point?

#80 Jean on 01.17.14 at 10:14 pm

I’d guess 1.8 mil, keep the stinky cast but send me a copy of your next book.

#81 Jean on 01.17.14 at 10:15 pm

sorry that was the wrong email address just in case i’m right

#82 Andrewski on 01.17.14 at 10:18 pm

Know the Saxony Crt home area very well, my parents home of 40 years nearby. The car elevator at this home is pretty cool.
Heal quickly Garth.

#83 Eleanor on 01.17.14 at 10:22 pm

Hi Garth,

My estimate would be 4.5 million, so make it 5.5 to account for the “there’s something in the GTA water which makes people overbid on real estate” factor… the seller takes a bit of a loss to be rid of the albatross of maintenance and sunk costs, the buyer is happy with the deal, scooping up $6 million in building costs for 5b.5 million.

All the best for your recovery. I’d like to suggest that you give the paleo/primal lifestyle a try in order to heal more quickly … but it’s also supposed to re-invigorate one’s libido which might be a bit much for us hapless blog readers.

#84 mf on 01.17.14 at 10:30 pm

I will go high. 8 million.

#85 Tripp on 01.17.14 at 10:30 pm

Garth, your surgery is only next week?!!

Any doctors among the blog dogs? Is this normal or a consequence of the overstretched Canadian healthcare?

#86 Thank You Garth on 01.17.14 at 10:31 pm

3.49M…

Get well soon, Garth.

#87 Smoking Man on 01.17.14 at 10:32 pm

Yes the get well garth consensus thing are over,
.
I can go back to being the village ass hole

The problem, on acid, had to try hunters ass and boots.

I see the bats, more importantly bat man.

U got to Waite for the book, provided by, honey I lost it all.

Even flying threw the universe I still see shit, to bad to hammered to guide.

#88 Ole Doberman on 01.17.14 at 10:33 pm

Finally gold is in the King’s seat once again, that and my investments in Bitcoin are taking off – housing Collapse then I get in on the cheapies!

#89 Smoking Man on 01.17.14 at 10:34 pm

DELETED

#90 PJ on 01.17.14 at 10:41 pm

I rent.

I’m still a gold (and silver, and platinum) nut (25% of my portfolio anyway)…

But that’s because I bought it at a low price and I don’t have much faith in Governments/Banks (what’s the difference nowadays)? Nor do I trust their insane monetary policy.

Stocks? Sure, I own some. But just because it’s fun.

Cash, hell yeah…

Now … I won’t start calling some people nuts (hmmm?)because they’d rather to invest/gamble their devalued savings into a diversified portfolio run by Wall Street criminals who prevent savers from earning decent interest just to lure as many people as possible, perhaps for the purpose of eventually shorting a Federal Reserve managed market inflated by cheap money, but let’s just say it’s a different ”train” of thought to which I decline (respecfully of course).

Funny what’s been happening to trains lately…

#91 Macrath on 01.17.14 at 10:41 pm

A little recoup story.

Outlaw riding season fear not. There is a hogster from Riviere-Du-Loup goes by the name Dix-roues. He was completely crushed by a tractor trailer on the autoroute 20, hence the name Ten-wheels. He has braces from the lower chest to his ankles like a polio patient. This bearded boomer still rides on two wheels with a kick stand mod. Quite the character and full of Joie de vivre.

#92 Smoking Man on 01.17.14 at 10:42 pm

DELETED

#93 Rancher on 01.17.14 at 10:42 pm

http://business.time.com/2014/01/17/canada-has-its-own-housing-bubble-and-its-about-to-burst/

#94 JohnG on 01.17.14 at 10:43 pm

Garth I’m so glad you are alive and kicking…well, almost kicking. A couple more days sans the blog medicine and I may have ran out and purchased a home. Not many are being sold in the category I watch, but when they do, they often appear the next week as rentals!

Why *any* house in Winnipeg is worth more than $250K is complete bananas. We had nearly 700 car accidents per DAY last month due to the cold and snow in a city of approx 700K (yes, 21,000 claims in December!).

I still don’t understand if I should “value” my house at the price I paid or the current market value. It matters because I want to budget 3% of the value of the house for repairs/maintenance, but is it 3% of what I paid or 3% of what it is “worth” if it went on the market? Ditto for the rule of 90.

J

#95 Snowboid on 01.17.14 at 10:48 pm

My guess is $ 3.55 million.

CatFoodLady – where were you when I needed you last year after my surgeries?

Barrett-Jackson index? Sadly both cars I wanted sold for $ 30K and $ 42K over my bid limit.

If the number of people attending plus the selling prices of cars is any indication, the US economy is doing quite well.

#96 Mousey on 01.17.14 at 10:51 pm

The house goes for $3,000,000. Give my prize to Smoking Man.

#97 The Peg on 01.17.14 at 10:56 pm

Get well, get well soon, we wish you to get well…
Get well, get well soon, we wish you to get well…

Garth, will there be 2 posts a day while you recover?

#98 stop lying on 01.17.14 at 10:56 pm

No chance that place sells.

Get well soon Gartholomew, and be thankful you’re not a race horse.

#99 AACI Homedog on 01.17.14 at 11:00 pm

$1,750k….get well soon.

#100 Son of Ponzi on 01.17.14 at 11:01 pm

#78
-13C of dry cold = +4C in damp Vancouver.

#101 Controller on 01.17.14 at 11:04 pm

Best wishes for a quick recovery. Hope you’re up and about soon. You could always put a sidecar on the Harley and have the Queen Amazon ride you around to open houses. :)
Thanks for keeping up with the blog while you’re down.

#102 Exurban on 01.17.14 at 11:08 pm

Real estate is about location, location, and location. That should be an internet acronym — you should just be able to type REIALLL or something. So, no matter how many megabucks went into its construction, it is not worth much more than the other houses on the block. (The proximity to the freeway is not a minus IMHO. If it was a large treed lot with brick walls and an enclosed garden, the QEW would be no problemo. If it was in France, the Arabs who owned it would get their own private gated freeway entrance. Yes, really.)

So, it’s not going to sell because it’s not going to get an offer high enough for the seller to accept. The very best offer it would possibly get would be Bob Rice’s entry of $2.95 million, but that’s still his entry all to himself. I don’t think it sells.

Garth, I fell off a roof several years ago and got a few broken bones and a mild concussion. They don’t call it trauma for nothing. Your body and mind have been shocked. This blog (and everything else) will still be waiting for you in a week or a few. Like Instapundit does when he takes a vacation, maybe a guest blogger could take it over for a spell. You need rest, replenishment, recuperation.

#103 Notta Sheeple on 01.17.14 at 11:08 pm

#45 The Patient on 01.17.14 at 8:54 pm
“…I must assume it was your left leg, which for a motorcyclist, is shifter side, and so…not the preferable one to have an airboot on. Still, you should be able to rig up some contraption….”
========================

Lost my left (shifter) leg, below the knee, many years ago in a non-bike MVA. Figured out later, I could still ride, but only Wide Glides and Softail Customs with their extended reach. No ankle motion required.

BTW, #5 and #11 (CatFoodLady) give good advice. Too aggressive a recovery and the bones don’t set properly. Solution? a re-break and re-set, somewhere you don’t want to go, regardless of the dreams morphine can provide.

As far as bidding on a starter-castle goes, not even going to make a guess. Figured out a long time ago, life is an experience not a board game.

Get well.

#104 just say no on 01.17.14 at 11:11 pm

998,000.00 from an honest hard working house appreciating individual. Anything more would come from ???? dirty cash……lotto….? actually the house lust thing is becoming quite a bore so it could be a market indicator. Reminds me of the Queen of Versailles.

#105 Bob Loblaw on 01.17.14 at 11:11 pm

3.25M

#106 Bankruptcy Geek on 01.17.14 at 11:13 pm

Bummer about the leg, best of luck with surgery and physio!

I agree with #78, why there?

Its assessed at $5,784,500. https://www.mississauga.ca/portal/services/basicassessment2?_requestid=3166176

The rest on the street are between 832,000 to 1,628,000.

I’m going to go with 1.8.

#107 Garth is not God on 01.17.14 at 11:14 pm

Get well soon Garth. You are doing God’s service

#108 Snowboid on 01.17.14 at 11:15 pm

11 million they say?

How about this small estate in Scottsdale, ideal for car and motorcycle buffs for less than half – $ 4,850,000

http://carcollectorsestate.com/

I can tell you which one I would rather have (if I had $ 5 million)!

#109 WTF(Where's Terry Fudge) on 01.17.14 at 11:17 pm

Get better , listen to your doctor. You’ll do fine. Keep up the great blog.

#110 Smoking Man on 01.17.14 at 11:20 pm

DELETED

#111 Wise Guy on 01.17.14 at 11:20 pm

$4.51 million

#112 Smoking Man on 01.17.14 at 11:28 pm

DELETED

#113 Renter on 01.17.14 at 11:28 pm

7.1M is the current guess-timate …still a lot of hype to be had out there! After the hammer falls maybe 3M!! Keep the cast. It’ll be a token from the Canadian burst cycle…

#114 [email protected] on 01.17.14 at 11:31 pm

The star taken photos show the driveway with driveway bricks instead of white stones. Seriously – this thing will not sell just 1 mil above what it cost to build. I say it is winter pre advertising for the spring frenzy sell 9 mil.

#115 Ronaldo on 01.17.14 at 11:33 pm

House will not sell.

#116 r on 01.17.14 at 11:38 pm

$456000

#117 aprilNewwest on 01.17.14 at 11:40 pm

Garth, truly sorry to hear about your injury. All the best in your recovery.

#118 Basil Fawlty on 01.17.14 at 11:45 pm

Amazing, just when you were convinced that the gold nuts were a bunch of bullion licking, conspiracy theory whackjobs.

This from Reuters; “Deutsche Bank will withdraw from gold and silver benchmark setting, or fixing, amid an investigation by German regulators into suspected manipulation of precious metals prices by banks.”
You gotta love it!

#119 will on 01.17.14 at 11:49 pm

http://www.ottawacitizen.com/touch/story.html?id=9391434

Read this before buying a condo….

#120 Craig on 01.17.14 at 11:53 pm

Will sell for $4.65 million.

#121 Jon B on 01.18.14 at 12:01 am

Put me down for $3,251,000 for the marble mansion. I wouldn’t pay anything for it myself.

#122 adele on 01.18.14 at 12:08 am

I hope your surgery goes well and wish you a speedy recovery (catfoodlady gives as good advice as you do).

I’d make a guess on the sale price, but have no more room for trophies in my media room…

#123 OwlEyes on 01.18.14 at 12:12 am

Interesting. Looked on Realtor.ca. A few houses down, at 2270 Shawanaga Trail, a house was listed TWICE: IDs H3120338 and 2063850. 1.8M X 2 in the stats? Hmmm….

The Saxony Manor: $4.5M (it is pretty big)
Get well soon GT,

#124 MarcFromOttawa on 01.18.14 at 12:15 am

3.6 million $

#125 Dirt Dog on 01.18.14 at 12:19 am

You need some 8’s in the ask price for the offshore buyers. Lucky 8’s….btw where are the turkeys?

#126 meslippery on 01.18.14 at 12:23 am

I am not a Nurse but have spent time (a month) in
hospital.
I think they are the best.
They do not run the place and do the best they can.
I watched room mates take out all there problems
on the nurse.
Just a tip. Keep up the good work.
Get well soon.

#127 Cici on 01.18.14 at 12:27 am

#8 Kilby

Well said!

#128 dodgedbullet on 01.18.14 at 12:33 am

SM – 2 deleted comments in quick succession. You’re going for gold there me old mucker.

I just checked my spouses portfolio – up 44% just on the Nasdaq alone over 2 years approx.

Thanks for the advice, Garth.

Remember, rest up – you may think you can do more that you are told but you have to listen to the docs, I swear they give the least amount of time expected to recover.

Rest is as important as play.

Again, all the best.

Ben.

#129 saltpony on 01.18.14 at 12:42 am

Hey Garth,

I am very sorry to hear about your misfortune. It’s really crummy to break an ankle :(

You are alway so generous sharing your knowledge. I am following your advice. RRSPs and TFSA maxed out and investing in EFTs on my own. Curbing my spending, sigh.. I’m learning as I go. No more properties. I have two and had grand plans for more, but I’ve stopped. They suck up a lot of money…

So now I’d like to return the favour if I may please and give you some advice. I’ll speak plainly as you often do, but prolly not half as eloquently. I work in health care, so I’m qualified to dispense the following:

1) To get through the healing, you have to be very patient. Remember that. It will take time; a couple of years before you can really trust that ankle again. It’s a lot like investing.. It’ll be awhile before you see the results of your investment in surgery and physiotherapy.

2) You can’t exercise like you used to, walking your dog etc… so you have to EAT LESS or you will really pack on the weight fast. If you get fat, it makes it harder for that ankle to weight bear.. and fat also brings its own little sh*tshow down the road into cardiac arterial hell. Think of that like bankruptcy. You really don’t want to go there. If you need a visual, think of weight like carrying a balance on a Hudson’s Bay credit card. Nasty. Again, it’s about your future. You should feel hungry a lot of the time. Try make friends with that feeling.

3) A lot of the advice you give is to protect our future selves from feeling the misery of poverty in old age. But health is one step more fundamental… You must have good health to enjoy your hard work, sacrifices and wealth.

4) Start using the money you’ve saved. Get a trainer. Begin an upper body weight routine once you are out of the acuteness of surgery. Get your dog a dog walker or doggy daycare so he doesn’t get depression..

5) You are a good guy and I like you.

xo
saltpony

PS. This is a personal message to you. Delete if you like, or share it. I just wanted you to read it and know that I care about you. Thank you for all the help you’ve given me through this blog :)

#130 Turtle on 01.18.14 at 12:44 am

Get well soon, Garth.
House will sell for $4.15 mil

Also Garth… You were walking your dog (not doing anything stupid… like breaking a speed record on Queen Elizabeth Way), so recovery will go smooth… no doubt.

#131 Gemm on 01.18.14 at 12:45 am

BUT IT HAS
a million dollars worth of marble. People like to see rich guys get screwed but they like a bargain even more. A lot has gone into serving this up right so I can see a thrifty asian paying 5.888.888.

Did I miss where you wrote exactly how you happen to have this accident? Or just one of those things where you screw up, look behind you to see if anyone saw what you just did!

#132 Duffman on 01.18.14 at 12:50 am

Get well soon Garth!

#133 Paul on 01.18.14 at 12:50 am

I bid 1 dollar !

Hey it works on The Price Is Right once in a while

#134 dragonslayer on 01.18.14 at 12:54 am

Get well soon, Garth. Hope you’re on the bike in time for riding season.

#135 WileyM on 01.18.14 at 12:56 am

Garth, maybe that’s why I couldn’t pull up your blog yesterday – it crashed from all the well wishers?

I’d like to add my wishes to heal well and quickly. Best of luck with your surgery. Hugs to Dorothy, too, as I know how hard it is to have a loved one in hospital.

Also, many thanks for entertaining and educating me every day with your wonderful and witty prose. You convinced me to hire a financial adviser and get my money out of the Orange Guy’s shorts.

#136 NOTHING SURPRISES on 01.18.14 at 1:04 am

My fellow oldie!

For many months, even years, you have been adamant there would not be a crash.
Then you have one yourself!

Take care and heal fast!!

#137 Glen on 01.18.14 at 1:05 am

4.15m

Get well soon Garth!

#138 Entrepreneur on 01.18.14 at 1:06 am

I would not pay a dime to live there…not my style of living and if I had that kind of money I still would not live there.

#85 Tripp on our overstretched Canadian healthcare…hardly use it…don’t like the chemical prescription drugs doctors are using to treat the problem.
Notice on the internet mostly American doctors speaking up, but not a single Canadian doctor…how money hushes everyone. Or do you know of one or two?

Like this blog…able to speak (type) what is on my mind…thanks Garth…you are already, sort of, back to normal.

#139 Archer on 01.18.14 at 1:16 am

5.7M is my guess. Take it easy Garth. Wishing you all the best in your recovery.

#140 Heddok on 01.18.14 at 1:25 am

4.9 million

Good luck with the leg and surgery. Been down that road myself non- weight bearing for 17 months… made me grateful to walk again.

Beat wishes

#141 Mixed Bag on 01.18.14 at 1:36 am

It’s a beautiful house, but the grandeur of the house doesn’t fit the lot and neighbourhood. There is no backyard. The house was built to the edge of the property lines. Only people who stay indoors the whole time they’re at home would buy a place like that. And who want a discount mansion. At least the back is wooded, even if it’s not their lot (?). I’d personally feel a bit claustrophic, ironic for an 18,000 sqft place. It would be like living in your very own apartment building. The whole building is yours, but your neighbours’ houses are RIGHT THERE, and you have no backyard. Funny, my mother’s lot is the same size as this one, her home is under 1000 sqft.

Guess: $2.888 million

***

Garth, I was pleasantly surprised to see that you had posted today, fully expecting a brief hiatus until the surgery. Guess distractions are good. I wish you a speedy recovery. Good luck!

#142 Mixed Bag on 01.18.14 at 1:39 am

102 Exurban on 01.17.14 at 11:08 pm

Great idea – guest posts from the Amazons while Garth goes on recuperative hiatus.

#143 Christopher Lackey on 01.18.14 at 1:52 am

I come here every day, you can’t buy entertainment like this anywhere. Thank you Garth! Speedy recovery.

That place sure falls to earth in the real photo. 2.75 mil, probably to some low-life who won the lotto max and will be broke in 5 years

#144 Karla on 01.18.14 at 1:53 am

Last spring my brother broke his collar bone in four places. The nurses in our family (there are three of them), all said to eat a lot protein and to take calcium supplements. Apparently it speeds up bone development, and the doctors rarely mention this. Hope you heal quickly.

#145 DR on 01.18.14 at 2:01 am

Buy low and
Always remember Garth’s Fist Rule of Purchasing: buy the worst house on the best street. And I don’t mean taste.

#146 West Coast Renter on 01.18.14 at 2:28 am

Sorry to hear about your leg — wishing you a speedy recovery!

As for the, er, mansion, there might be an idiot willing to shell out 5.75 mil.

#147 DON on 01.18.14 at 2:37 am

1 million when all is said and down, material prices went up drastically per square foot, not worth 6 million for extra wood and drywall. The house is in the worst location and lacks privacy and land.

#148 Van local on 01.18.14 at 2:55 am

What the heck. 12 million. I’m from vancouver and surrounded by greater fools;)

#149 stage1dave on 01.18.14 at 3:13 am

Great column & great pic!

I have some sympathy for the cat, I feel like that sometimes in our new digs…a 1 BR apartment! And neither the wife or I can leave a cardboard box of any size lying around anywhere, lest we find one of our furballs parked in it almost instantly…& looking quite satisfied with itself.

A 1600 sq ft BR, huh? Our entire 3rd floor box is about 1/2 that size, but it’s comfy. Having gotten sick ‘n tired of yardwork, upkeep, shovelling sidewalks, leaky basements, & LL’s who won’t fix anything; we figured downsizing for a year would be a good call, & we’ll bank the savings. As the wife & I haven’t enjoyed the communal spirit of apartment living for over 30 yrs, the last few months have allowed me to make the following observations:

1) I can’t believe how many people are out there who STILL can’t stand Judas Priest! And at a moderate volume…(I do deal with these situations much more maturely today, however; in the 70’s I’d usually let them know that if they didn’t like the music, they were quite free to move somewhere else)

2) People spend a lot of money on booze. And argue about it…and then argue about how stupid they act after they spent all their money on booze. (My personal habits in this regard are far enuff removed in the past that I can plausibly deny all of them) Having 3 liquor stores in a 1 block radius, & paper thin walls in our new hovel has supplied an old form of entertainment I had completely forgotten about!

3) It’s great knowing the only snow you have to remove is on your truck’s windshield.

4) Lineups on rent day…but at least no one writes cheques anymore!

5) Being able to hurl stuff you don’t need (but don’t want to get rid of) out on the balcony. In our new housing enviornment, this contributes to the local character of the ‘hood. It’s frowned upon in most residential communities…

6) Dumpster Divers! Their frequency and/or timetable would put a UPS driver to shame; & they do a better job of cleaning up the garbage areas than Park Rangers. Now if I can only resist the urge to get on a first name basis with them…

7) Being constantly asked if I have any cigarettes…this was enuff of a PITA in the 70’s…& I could afford them then!

8) Stairs…they still suck…

9) People who ring your buzzer whom you don’t know, but are in a big hurry & require immediate entrance to the building…& insist on talking like their mouth is full of marbles.

10) Where did all the Nazareth tour t shirts go?

Guess that’s a nice round number to end the evening with…& dangle a participle to boot. FWIW, don’t think we’ll last too long here…it’s a bit too socially engaging for both of us, given that we’ve sorta stopped interacting with humanity the last few years.

Oh well…least we’re still renting!

#150 Dave on 01.18.14 at 3:46 am

3.64M. What I found interesting was the amount of duplicate listings as I looked at comparables. Mr. Kay would be proud.

#151 Buy? Curious? on 01.18.14 at 4:26 am

Garth, I’m going to say $5.99million and that the house will be on the market for 90days only in case there’s a tie. Only because no one with REAL money reads this blog.

http://www.youtube.com/watch?v=96Y24a0cyCE

Rob Ford 2014! Anyone know where I can get a t-shirt?

#152 groovin123 on 01.18.14 at 4:31 am

$3.88 mil my guess.

#153 Mr Buyer on 01.18.14 at 5:01 am

Mr Turner
All the best. I hope the dog gets out of the house from time to time during your recovery.

#154 Happy Renting on 01.18.14 at 5:02 am

I guess $7.82 million. Insane, but that marketing job just might work!

#155 Richmondite on 01.18.14 at 5:25 am

Coming from family of experienced builders…
Rule #1 – Cost of construction should not be more than lot value… That’s how it works in the lower mainland.

So giving benefit of doubt to this crazy builder if lot value is approx 800,000 I personally would not pay more than 1.6 mill for this place. However, it’s quite obvious this builder over spent so if he breaks even he should consider himself lucky. 10-13 years ago profit expectations on new homes were around $100-150,000. Now the expectations are anywhere from 300-700,000 …I know a builder who just made a 1million profit on a new home and the lot was purchased same yr house was constructed. This is no joke, buyers have plenty of room to negotiate. Hopefully this helps someone out there.

#156 Rural Rick on 01.18.14 at 5:25 am

Give the better half and Bandit a break and hire a dog walker for the duration. Get well soon.

#157 takla on 01.18.14 at 5:41 am

keep your chin up G,last summer after avoiding a collision with a toddler in the street I jambed my foot into the pavement as my foreward momentum pushed the floorboard over my left boot instantly breaking my big toe…now that’s pain on the child birth scale!!You will heal as I did but it will be tender all riding season,you will just have to cut back on the burn-outs!

#158 the jaguar on 01.18.14 at 6:28 am

I thought riding season meant horses. I see someone else has presumed motorcycles. The regional differences surface even here…
The surgery doesn’t sound like fun, Garth. Try to be brave when the day arrives.
Love the whimsical look on the kitty’s face.

#159 Cow Man on 01.18.14 at 7:16 am

We will low ball just for the giggles. $2,975,000, goats included.

#160 Randman on 01.18.14 at 8:15 am

Get well Garth…

off topic but…..Re: Suicide attack in Afghanistan

“Two Britons and two Americans were among at least 21 people killed when a suicide bomber and gunmen attacked one of Kabul’s most popular restaurants.”

Here’s the interesting part..and likely the main target…

“The Head Of The International Monetary Fund (Imf) And Three Other Staff Of The Un Were Also Killed in the attack on Friday evening, along with the Lebanese restaurant owner and several Afghanis and two Canadians.”

#161 housedoc on 01.18.14 at 8:47 am

$3,888,888.88
Closing at 8:08 on Aug. 8.

#162 Jas G. on 01.18.14 at 8:54 am

I wish you a speedy recovery. Take care.

#163 Not 1st on 01.18.14 at 9:13 am

Looking at that house makes me think “what is a life?” Is it comprised of sitting behind your fake castle walls admiring your imported marble and hoping to impress passers by who don’t know you and don’t care about you?

Or is life being out there doing things, experiencing, adding value of some kind to the world and trying to further the human race.

A house is just a place to sleep and grab a bite to eat and get out of the cold. You can’t be in all 50 rooms at the same time anyway. It’s nuts to think of people living together separated by all that space.

#164 Not 1st on 01.18.14 at 9:16 am

And just a reminder to people. The greatest asset you have us your health family and friends. The 2nd is your freedom. Any one with those is already rich.

#165 Slow and Steady on 01.18.14 at 9:27 am

Garth – speedy recovery. Appreciate your blog. 38 this year, paid off my house in the GTA last year after we bought in 2006 by taking advantage of the 20/20 almost every year. Stumbled upon your blog last year when the wife started talking about moving up and really found your blogs helpful in building a business case not to! It’s a wonderful feeling living debt-free, investments at 12x est. annual retirement income, work that I enjoy that puts me on the top tax bracket, company DC /ESPP plan (these plus rrsp/PA all maxed out from day 1 on the job) retiring at 45 suddenly has become achievable (or maybe sooner if I can move company stocks to TFSA without triggering a tax event!) Think I will stick to taking full advantage of TFSA for the short term (freedom 45) and maybe, just maybe, pick up a second place should the RE adjust more than 20% (freedom 55). Your comment about RE being more emotional than financial is a constant reminder – thank you.

#166 Herb on 01.18.14 at 9:28 am

My guess at the sale price? No idea, depends on how dumb some guy with access to big bucks will be.

Personal bid? Nothing. Wrong house in the wrong place, and such builders/speculators should be punished, not rewarded.

#167 Detalumis on 01.18.14 at 9:29 am

#85 Yes waiting for surgery is normal in Canada, my 30 something work colleague broke his ankle and had to wait so long that he now has a permanent disability. The orthopedic surgeons concentrate on seniors hips and knees.

In the U.S. surgery would have been the same day. In Canada you also have to pay for physiotherapy unless you are over 65. Younger people who can’t afford it are given a photocopied sheet for do-it-yourself physio.

If the accident had happened in his retirement town and not in Toronto he would have had even worse care with probably lifelong damage. Good thing he is a jet-setter.

#168 LeafsSteak on 01.18.14 at 9:38 am

$2.290M

#169 G Man on 01.18.14 at 10:00 am

Pay extra and get the good drugs. Tylenol don’t cut it after surgery. The mayor can hook you up. Oh, and some “non government grade” medical weed to help with the sleep. And forget the medicare therapist, get a real one. Get one from a private setup, who offers happy endings – after all the supreme court said it’s OK.

#170 gus on 01.18.14 at 10:08 am

$5M

#171 Happy Renting on 01.18.14 at 10:09 am

Seriously, Garth, you kept #112? Just how bad were SM’s other comments???

I missed it. Now deleted. The man is sick. — Garth

#172 jerry on 01.18.14 at 10:11 am

If you need home care services……take it!

No weight bearing for over a month means you need some basic help at home.

Take it or at least ask for it. You qualify in Ontario.

#173 skube on 01.18.14 at 10:11 am

There’s got to be someone guilable to pay $6.9M

#174 Pete on 01.18.14 at 10:15 am

What a buyer of this kind of house is really acquiring is an ongoing liability of approx. $150 K+ per year in property taxes, running costs and ongoing renovations required to maintain the property’s value. I would think that anybody who could genuinely afford this would be worth at least $20M.

My real question is Why the heck would anybody worth that kind of money want to live in Mississauga? No offence to Mississauga residents but I would think if you gave every family there $20M, there would not be more than 20 people left there within a few weeks!

#175 bguy1 on 01.18.14 at 10:39 am

The introductory video is really disgusting…

http://www.sagecondos.ca/

#176 Notta Sheeple on 01.18.14 at 10:43 am

#149 stage1dave on 01.18.14 at 3:13 am

Great post, well-written, you have talent.

#177 Yuus bin Haad on 01.18.14 at 10:55 am

Oh, and the other thing: when you’re sixteen, you mend.

#178 presley1000 on 01.18.14 at 11:02 am

I’d rather consult with you on a possible slip and fall claim, along with my own finances, than guess on a house.

Call it blog chasing. :D

But since you’re down and out for the moment, I’ll humour you with a $1,888,888 bid.

Get well, dude!

#179 nonietzsche on 01.18.14 at 11:13 am

i’d say it depends on the spring market, if it tanks 3.5 mill ,otherwise 4.8. look forwards to seeing you in the spring on a sunday at belfountain.

#180 bentoverpayingtaxes on 01.18.14 at 11:34 am

First….the obvious…..if you had been in the US at the time of your acident you would have had your surgery within hours and not be waiting in a druggy stupor for a bed to open up. And don’t forget…..if any other patient deemed more needy than you comes through the door at the last minute your surgery could be bumped for weeks….even months as has been the case with many others. Don’t forget the great many who’ve died in the hallways waiting for a surgical bed. Sadly, under Obamacare this same situation will suddenly slap many Americans when they find the networks restricted now that 77% of doctors and hospitals will no longer accept patients holding the socialist medical insurance docs. Welcome to Canadian healthcare. What I don’t understand is why a rich man like yourself wouldn’t have driven across the border and had a procedure done?

Second…..while we can never discount the fact of dumb buyers offshore……I can’t agree with the pronouncement that this tomb took $6 million to build…no freaking way……. Marble and plaster might look expensivein photo’s …but seriously…crown mouldings are cheap…..look at the interior…..it’s thin and chintzy….go to Home Depot and look at the price of dry wall and marble…..windows like this cost nothing….it’s a barn….suited for a certain ethnic persuasion who like to fit lots of people under one roof on a budget….I give this place a replacement cost estimate of $80/90 per sq ft…..tops……putting the project in the $1 millish range to build…..plus the dirt.

#181 rosie "moving forward" in the knowledge that, "this won't end well" on 01.18.14 at 11:42 am

Photoshopped? The Star seems rather nonplussed by this little controversy. This blog should stop offending our artistic community.

http://www.thestar.com/business/real_estate/2014/01/17/did_this_mississauga_mansion_photo_go_too_far.html

#182 Michele on 01.18.14 at 11:50 am

Reading about these excesses always leaves me feeling a bit empty inside …that reminds me of a Steve Earle song …Back to the Wall …fitting perhaps.

$7.41M

Best wishes for a prompt recovery and wind in your face in the spring!

#183 DJG on 01.18.14 at 12:00 pm

The neighbouring house, 2279 Saxony, sold for $1.5 million in 2012. Its lot is 1,117 square metres vs. 1,617 square metres for 2290. However, the house almost fills the lot, so there is essentially no real outdoor space.

The house is 18,000 sq ft, but looks to be pretty cheaply built (leaving aside the absolute absence of taste). Let’s say, generously, that they spent $250 / sq ft, then construction would be $4.5 million. The lot was purchased for $900k in 1998, so they’re in to it for well under $6 million.

I’d say the lot is worth $1.5 million, but the house itself has depreciated in value more than a top of the line domestic automobile, so a fair price would be $4 million.

All of that said, I just cannot fathom who chooses to spend millions to live in Mississauga when they could get a mansion in Rosedale instead.

#184 Ralph Cramdown on 01.18.14 at 12:11 pm

#180 bentoverpayingtaxes — “First….the obvious…..if you had been in the US at the time of your acident you would have had your surgery within hours and not be waiting in a druggy stupor for a bed to open up.”

It would all depend on the result of the wallet biopsy. Then you’d need to find an in-network surgeon and anaesthesiologist (good luck if you were travelling out of state), and a copay of 30% or more wouldn’t be unusual. Read all about it, including patient comments, at http://health.costhelper.com/sprained-broken-ankle.html

#185 Planne on 01.18.14 at 12:36 pm

I wish you a speedy recovery and applaud your ability to consider the plight of others with you in the emergency room.

#186 Penny Henny on 01.18.14 at 12:41 pm

$6M/18,000sq.ft.=$333/sq.ft.
Cheeeeeap.

and for those who can’t seem to figure this out, the lot is only 42ft across at the very front. not 42ft width all the way through.
pie shaped lot, ever hear of that????

I say it sells before auction.
Bully offer

#187 Mr. Frugal on 01.18.14 at 12:43 pm

I guess it pays to hire a good photographer. That first photo is really boss.

#188 Smudgekin on 01.18.14 at 12:44 pm

Gandu tent.

#189 Marquis de Sale on 01.18.14 at 12:44 pm

6.1 Million and a box of frosted poptarts!

#190 F+H on 01.18.14 at 12:54 pm

Reflecting on your previous post re: the emergency room compared to this one.
Life is about health and family, not a house…
Hope you recover soon.
To your health and family, all the best.

#191 Rainclouds on 01.18.14 at 12:56 pm

Smoking Man steal your meds? He seems to be on quite a run………..

The Critter is gonna be pissed, no walkees for a while…
Blogdogs around the world staring vacantly at their screens wondering what the hell they are gonna contemplate while you get the fix for your ice ballet gone south.

More insult to injury: Edmonton Intl will be the only place your new titanium parts get a pass through the scanner………oh my

Your MANY dependents are asking “How could you be so irresponsible”? :-)

#192 debtified on 01.18.14 at 12:58 pm

All the best on the surgery, Garth. Thank you for the blog and see you when you are all well. I am rooting for a successful operating and quick and painless recovery.

#193 Cyclist on 01.18.14 at 1:08 pm

158 Jaguar – I dont get “riding season” either. I can ride all year. Maybe not each and every day, but all year.

Now for those who have commented regarding Garths recovery, my experience says few of health workers really get it. One time when I was in ER after a crash on
my ‘cross bike the nurse asked where it happened.
When I told her she didnt believe me and laughed
because of my age (49ish at the time). She just didnt get it. Probably a couch spud for life in her off hours.

#194 bentovepayingtaxes on 01.18.14 at 1:26 pm

Hey Ralph…you’re wrong. The CBC propaganda doesn’t applie here.

“#184 Ralph Cramdown on 01.18.14 at 12:11 pm #180 bentoverpayingtaxes — “First….the obvious…..if you had been in the US at the time of your acident you would have had your surgery within hours and not be waiting in a druggy stupor for a bed to open up.”

It would all depend on the result of the wallet biopsy. Then you’d need to find an in-network surgeon and anaesthesiologist (good luck if you were travelling out of state), and a copay of 30% or more wouldn’t be unusual. Read all about it, including patient comments, at http://health.costhelper.com/sprained-broken-ankle.html

Reality check….We have walk in surgical clinics in the US…full equipped and ready to work the moment you walk in……and people with Garths money shouldn’t be so hypnotized by socialist medicine dogma that they will sit around in pain for a week instead of paying for their own health care out of pocket. It’s called freedom…something sadly lacking in Canada.

And DJG 183……if you’re paying your cntractor $250 a sq ft for new build in Missisaugua ….I want to build a subdivision for you. I have crews ready to go. Trust me on this…as a builder I can guaranee this pit cost no more than $80/90 a sq ft…tops.

#195 Infused with Opiates on 01.18.14 at 1:26 pm

181 Rosie – the critics obviously arent camera buffs. The photographer didnt use anything unusual. Wide angle lenses are common in architecture as they try to encompass maximum width in what can be less than adequate depth. The trade offs are distortion as you go towards the edges and the illusion of depth ie being further away. Now the multi-exposure to get the lighting just so is a cool effect.

#196 Smoking Man on 01.18.14 at 1:28 pm

Now deleted. The man is sick. — Garth

Perhaps, when one leaves the village and goes deep into the jungle in a quest for originality one might venture a bit to far.

Perhaps insensitive to your miss fortune, jungle fever is my lame excuse, time to head back to the village, now which way is it.

I’m going to put myself in the penalty box for a while.

You get better garth, I will try as well.

#197 Victor V on 01.18.14 at 1:30 pm

Sorry to hear about the ankle Garth. Best wishes to you for a healthy recovery.

Cheers
VV

#198 not 1st on 01.18.14 at 1:34 pm

I caution anyone who decides to criticize our front line medical staff at hospitals. What I have seen are people with lacking resources trying to do the best with what they can. It must be stressful for them and some always have a caring demeanor, but some their coping is to just disconnect.

And people are their own worst enemy. They smoke, do drugs, they drink, they fight, eat garbage, do daredevil stunts, take stupid risks then expect the hospital to bail them out. Around here it is well known that you don’t want to go to the emergency on a weekend cause thats when the druggies, drunks and amateur fighters clog the place.

#199 SaggyBottomBoomer on 01.18.14 at 1:35 pm

$5,176,000

#200 not 1st on 01.18.14 at 1:41 pm

I assumed Smoking Man meant cigarettes like on X-Files.

Now I think its more smoking crack ala Rob Ford.

#201 World Traveller on 01.18.14 at 1:52 pm

Speaking of injuries, did anyone catch Steve Anthony on CP24? He took a running kick at a monster truck and now needs hip replacement surgery! Things you can’t do when you are no longer 25.

#202 World Traveller on 01.18.14 at 1:53 pm

oh ya, 2.4 million, and I would like one of your books too.

#203 Linda Pearson on 01.18.14 at 2:25 pm

#194 bentovepayingtaxes on 01.18.14 at 1:26 pm

It would all depend on the result of the wallet biopsy. Then you’d need to find an in-network surgeon and anaesthesiologist (good luck if you were travelling out of state), and a copay of 30% or more wouldn’t be unusual. Read all about it, including patient comments, at http://health.costhelper.com/sprained-broken-ankle.html”

Reality check….We have walk in surgical clinics in the US…full equipped and ready to work the moment you walk in……and people with Garths money shouldn’t be so hypnotized by socialist medicine dogma that they will sit around in pain for a week instead of paying for their own health care out of pocket. It’s called freedom…something sadly lacking in Canada.

****************************************

Potato, potahto…What you call socialism I call extortion. The reason(s) why surgery is pending has not been disclosed so don’t rush quite so quickly to judgement of our system. And yes, I readily admit it isn’t perfect but then, what is?

#204 Konst on 01.18.14 at 2:28 pm

1.6 million

#205 RayofLight on 01.18.14 at 2:34 pm

It is too bad Canadians cannot access real estate information similar to what the US provides on Zillow.com. Canadians would then be able to see what the property last sold for.They could see what the properties beside it sold for & when, and see what a “Zillow Estimate ” is for the property based on similar properties in the area. The Canadian Real Estate cartel controls all this information solely to make over sized profits for itself, it does not care at all for either the buyers or sellers,they are fodder.

#206 Greg on 01.18.14 at 2:39 pm

Hi #21, the cat looks like he’s having lots of fun. Don’t all cats love boxes?
Your comment and Garth’s “He’s resting.” reminded me of the fun python dead parrot short.
http://www.youtube.com/watch?v=Oj8RIEQH7zA

#207 Victor V on 01.18.14 at 3:25 pm

PRICE DROP #20 – 15 Ridgewood Road – FOREST HILL

http://themashcanada.blogspot.ca/2014/01/price-drop-20-15-ridgewood-road-forest.html

PRICE DROP #20!!!!!!!

Yes…..T-W-E-N-T-Y!

I first posted this house at 15 Ridgewood Road (though I have called it Drive a few times) in March 2013. It’s 4+1 bedrooms, 9 bathrooms on a 61 x 290 foot lot.

It needs work and the location isn’t the best. But clearly someone thinks it is worth a lot of money.

Here is the price history:

February 23 $4,398,888
March 5 $4,397,888
March 12 $4,396,888
March 14 $4,394,888
March 15 $4,393,888
March 16 $4,392,888
March 17 $4,391,888
March 18 $4,388,888
March 28 $4,349,000
April 15 $4,348,000
April 22 $4,299,000
April 29 $4,249,000
May 4 $4,199,000
May 11 $4,149,000
May 23 $4,099,000 (this price didn’t last long!)
May 23 $3,999,000
June 13 $3,888,888
August 2 $3,598,888
September 28 $3,259,000

And after 4 months of anticipation…

The price has been dropped again!!!!

BELOW $3,000,000!!!!!!!!!!!!!!!!!

The new price is $2,999,900.

Getting closer!

#208 Andrew Woburn on 01.18.14 at 4:05 pm

#183 DJG on 01.18.14 at 12:00 pm

All of that said, I just cannot fathom who chooses to spend millions to live in Mississauga when they could get a mansion in Rosedale instead.
=============================

Maybe the kind of people who think, for whatever reason, they wouldn’t be welcome in Rosedale. Or maybe immigrants who don’t “get” the social cachet of Rosedale.

Back when the Asian invasion started in Richmond, proper Vancouverites didn’t admit they even knew where it was. The immigrating Chinese saw good value in Richmond and either didn’t know or didn’t care about the “right” place to live.

#209 Andrew Woburn on 01.18.14 at 4:25 pm

I always laugh when Americans assert that all Canadians can’t speak a sentence that doesn’t end in “Eh!” and we all pronounce about as “aboot”.

I wonder then if Chinese people are similarly amused by realtors’ assumption that they will develop uncontrollable cheque signing mania at the sight of anything involving “888”. Are there any Chinese blog dogs who can clear this up for me?

#210 Irene on 01.18.14 at 4:32 pm

The half-acre lot alone is worth 1.5 million or thereabouts. I know a guy who has a teardown bungalow on a half-acre in that part of Mississauga, _not_ on upscale Mississauga Rd, _not_ backing onto the Mississauga Golf and Country Club, and his place is assessed at 875,000.

18,000 square feet at, say, 250/sq ft is 4.5 million, so the replacement cost is around 6 million.

For comparison, a house the same size and even more tasteless sold in Oakville recently for 7.5 million (had been asking 11 million). Similar upscale-but-not-as-upscale-as-the-house neighborhood. The difference is that the Oakville one really has the appropriate setback because its lot is 1.3 acres.

So my guess is 6 million, right about what the builder probably spent and what the auction house is hoping for. The publicity value of the widely-reported auction is probably cancelled out by the shitstorm over the misleading photos.

#211 eddy on 01.18.14 at 4:44 pm

Is this a power of sale?

#212 Renting in Edmonton on 01.18.14 at 4:46 pm

#149
Sounds to me like you didn’t do your homework before renting your place. There are lots of nice, decent places out there. Or are you a realtor trying to give renting a bad name??

#213 VICTORIA TEA PARTY on 01.18.14 at 4:58 pm

THE EARTH MOVES…

under our feet!

At least that’s what two great big home insurance companies think about Greater Victoria’s future as a place of prospective terra firma.

I am informed by my local home insurance agent to stand-by for a whacking big premium increase at next month’s policy renewal time.

Why? Because those two companies (which shall go nameless for now) WILL NOT BE PROVIDING ANY MORE earhtquake-related insurance within customers’ new policies.

I was told that Greater Victoria is too much of an earthquake risk, according to the two huge insurers, as is some burg in Quebec. But they want to separate anyway, don’t they?!

So another company has jumped into the breach and is about to fleece the rest of us; just in case! You just never can tell.

Caveat emptor prospective Victoria real estate buyers, from coastal China and non-coastal Alberta. Check with your realty agent (for PR puffery and blandishments), a local insurance broker and finally the seismological institute.

Bring your own life boat. You can’t have mine!

#214 ILoveCharts on 01.18.14 at 5:13 pm

Just noticed that the site says it doesn’t have central air. Are you serious? I’m dropping my number from $6.8 to $4.

#215 DR on 01.18.14 at 5:53 pm

205 RayofLight on 01.18.14 at 2:34 pm

They could see what the properties beside it sold for & when, and see what a “Zillow Estimate ” is for the property based on similar properties in the area.
———
Rayoflight thanks for that….all the data and info and stats wont help you if you are outbid.

Not sure if you have actually put an offer in on a property in say the past ten years or not.

That’s how it works though, best offer takes it.
You’re not competing against stats and comps, you’re competing against other buyers that want the same property.

Hope that helps.

#216 Ralph Cramdown on 01.18.14 at 6:03 pm

#194 bentovepayingtaxes — “Reality check….We have walk in surgical clinics in the US…full equipped and ready to work the moment you walk in……and people with Garths money shouldn’t be so hypnotized by socialist medicine dogma that they will sit around in pain for a week instead of paying for their own health care out of pocket.”

I know a bit about US surgical clinics; I collect the dividends.

If you think that hobbling in unheralded (classic bargaining from a position of weakness) and paying full rack rate is better than letting Kaiser Permanente negotiate a 30% or 40% discount — well, I get paid either way, but not having health insurance in the US is like buying reverse lottery tickets. Having health insurance but paying cash anyway would also seem a little suboptimal. Freedom!

#217 Devore on 01.18.14 at 6:08 pm

#212 Renting in Edmonton

Sounds to me like you didn’t do your homework before renting your place. There are lots of nice, decent places out there. Or are you a realtor trying to give renting a bad name??

It is common knowledge that when you own the exact same unit instead of renting it, the walls automatically get thicker, and the neighbours turn into nuns who took vow of silence.

#218 Darryl on 01.18.14 at 6:17 pm

Didn’t see the breaking news till today Garth .( um hum) Hope it heals well and you get the best pain killers.
That house isn’t to far from me . It replaced a large 70s home that burned down. Wonder what insurance paid. There are a lot of multi million dollar homes in the area and its by the Mississauga golf and country club. construction was started at least three years ago.

#219 Rob_in_TO on 01.18.14 at 6:40 pm

#11 TheCatFoodLady on 01.17.14 at 7:41 pm

Looks like really good advice from a health care professional.

I’m really sorry to see you got hurt Garth, so my best wishes for the surgery and your recovery! You put it in good perspective in yesterday’s blog entry, with regards to the others in the ER that were suffering. I have been in ER’s myself quite a few times, for myself and taking others to them, not a fun place to be.

As for what this “Look at ME” property, I will not even guess what it may go for…see lots of bloggers putting out prices in big ranges, anyone’s guess. Starting bid: Five and a half million $. There’s a lot of money out there, some rich fool might put in a bid. Or, no bids.

I wouldn’t touch this, even if it was affordable.

#220 DR on 01.18.14 at 7:33 pm

Garth, your sex club is no longer. Guess that is why that house(shack) acriss the street sold for so much, maybe the buyers knew something.

http://www.torontolife.com/style/random-stuff-goods/2014/01/16/wicked-sex-club-moving/

#221 Daisy Mae on 01.18.14 at 7:58 pm

#128 Saltpony: “I work in health care, so I’m qualified to dispense the following:

1) To get through the healing, you have to be very patient. Remember that. It will take time; a couple of years before you can really trust that ankle again….”

*********************

I’m sure Garth will heed this very good advice.

#222 Daisy Mae on 01.18.14 at 8:09 pm

#141 Mixed Bag: “…the house doesn’t fit the lot and neighbourhood…”

******************

The selling price is one thing. And bad enuf. Just think of the costs associated with this property — the ongoing maintenance, the monthly utilities, the annual property taxes! Crazy.

#223 waiting on 01.18.14 at 8:25 pm

Dan Barnabic who is a former realtor, developer and consumer advocate has written a book “The Condo Bible for Canadians” to help educate new (and current) condo buyers.
He currently rents – I think that says it all.

#224 AK on 01.18.14 at 8:27 pm

“But who knows? Maybe there’s an idiot rich dude somewhere who actually believes what he reads in the Toronto Star or the Vancouver Sun.”
====================================
Possible. But the majority of rich people are not idiots..

#225 Tiger on 01.18.14 at 8:29 pm

Garth get well soon ! Your the only person on this planet, that makes sence out of everything !

#226 to_be_frank on 01.18.14 at 8:42 pm

Best wishes for a full and speedy recovery, and thanks for this great blog.

#227 Daisy Mae on 01.18.14 at 9:03 pm

#209 Andrew: “I wonder then if Chinese people are similarly amused by realtors’ assumption that they will develop uncontrollable cheque signing mania at the sight of anything involving “888″. Are there any Chinese blog dogs who can clear this up for me?”

**********************

What matters to the Asians is ‘eights’ in the street address (5838 Smith Avenue). ‘Eights’ in the asking price is stupid — it’s just an asking price. So I would imagine the Chinese think Canadians realtors are dumb asses….

#228 Fed-up on 01.18.14 at 9:41 pm

$42.50 subject to home inspection and financing :p

Seriously, I wouldn’t want to live in Mississauga even with a 70% correction and I’m sure most residents wouldn’t want me there anyway.

#229 tkid on 01.18.14 at 9:46 pm

It does not sell during the auction, but will eventually sell for approximately $4,000,000.

Get well soon!

#230 Bobby on 01.18.14 at 10:44 pm

My Guess, $ 1.8 million.

You can’t appreciate stupid.

#231 Tripp on 01.18.14 at 10:49 pm

#167 Detalumis on 01.18.14 at 9:29 am

Wow, hard to believe, we are in worse shape than my country of origin in C-E. Europe.

#232 Cici on 01.18.14 at 11:36 pm

Garth + #129 saltpony

Garth I hope you read saltpony’s message, he has given you very good advice.

One thing I would like to add though: TAKE UP SWIMMING as soon as you are able to exercise safely (pending approval from your doctor).

I broke my ankle once (not as bad as yours though; I didn’t need surgery) and was told to swim when the cast came off. It healed way faster than they thought it would, and I’ve never had any other problems with it. And I’m a pretty avid hiker, having done most of the high peaks in the Adirondacks without ever experiencing any ankle problems.

Of course, only do so under the guidance of your actual medical practitioner if he or she recommends it, but swimming did do wonders for me :-)

#233 Ford Prefect on 01.18.14 at 11:47 pm

Garth, you have had some excellent advice from Cat Food Lady and Saltpony.

I will add my two bits worth. Running down a steep slope in sneakers I badly sprained my ankle a very long time ago – crutches for around a month etc. I found that when I began walking again I had a “trick” ankle – it would twist right over totally unexpectedly even when walking on flat dry surfaces. And it hurt! To make a long story short, I took to wearing sturdy hiking boots (Raichle) which give good ankle support. I never had any problems while wearing them and after about 10 years the problem went away entirely. I am on my second pair – they wear like a pig’s nose – and still use them “off road”.

All the best.

#234 Moosey on 01.19.14 at 12:30 am

Won’t meet reserve, that’s my guess.

Wishing you a speedy recovery Garth! Take care.

#235 Edward Ing on 01.19.14 at 12:31 am

Look at on Google Street view. If there is no reserve, it will sell for 900,000 to 3 generation muslim family with at least two brothers in the second generation. And their neighbors will hate them.

#236 Cy on 01.19.14 at 1:10 am

6.888m
Get well soon

#237 Derek R on 01.19.14 at 1:58 am

#160 Randman on 01.18.14 at 8:15 am wrote:
“The Head Of The International Monetary Fund (Imf) And Three Other Staff Of The Un Were Also Killed in the attack on Friday evening…”

Slow down, Randman. Christine Lagarde is alive and well. It was the head of the local IMF office who died, not the head of the global organisation. You had me worried there.

#238 scibidubadebumbado on 01.19.14 at 2:06 am

It will probably not make the “Auction” minimum reserve bid.
If an auction allows reserve bids then it is not an Auction but rather a clever marketing ploy that wastes peoples time.
This “Auction” web site says nothing about “no reserve bidding”. That is code for Reserve bidding, of course by default.
There should be another word for so called “auctions” that will alert people before they waste their precious time and energy at phoney “Auctions”

#239 Sofaking on 01.19.14 at 6:02 am

Ohhh ffs Garth, you know this property was meant to go viral on thw blogsphere and the news!

Anyway, it will fetch close to asking price and will be bought by (as usual) ham.

#240 My thoughts on 01.19.14 at 6:08 am

No 163. Not 1st… Totally agree with your post. Is life really about sitting behind faux chateaux walls. More speculators putting their homes on the markets this spring. People are scared and the “smart” ones who realize the gig may be up are getting out. Will they get out in time???? Look at what’s turned in to the majority of people living in these “hot” neighborhoods. Tradesmen… Carpenters, plumbers, flippers, unemployables, all people that figured they could make a quick buck flipping and the market cooperated. How many of these homes are experiencing moisture problems, cracks in foundation, crooked walls, strange architecture… Mistakes everywhere. Quality construction is rare… Buyer beware. So many homes built by people and tradespeople that actually have no idea what they are doing. Look at what you can buy in the US even in celebrity California for the same money and pause and think about it. Mississauga versus California. Why Canadians think they are so special is beyond me. Currently it’s rarer to see your high laid executives or high paid doctors living in these high end homes… It’s flippers, real estate agents, trades people and others… Will be interesting to see what happens when the housing market changes. Especially since so many of them own multiple properties.

#241 Herb on 01.19.14 at 8:16 am

#233 Ford Prefect,

I don’t do marketing, but credit where credit is due, so I must second your praise of Raichle boots. Have had a pair of their “Sherpa” model for 20 years and still use them in our local conservation area.

The sole of the left boot started to separate last year, so I went looking for a replacement. Couldn’t find any, so I reglued it with Gorilla Glue, and so far it’s held. Went to the biggest sports store in Munich during a trip to Europe last fall, and discovered that Raichle no longer produces under their own label, but now manufactures for Mammut. Those are available in Canada – and their not made in China.

#242 Four Horsemen - and Limping Larry on 01.19.14 at 10:22 am

$3.76 Million

I can’t wait for your Signed Cast!

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#243 Keeping It Real on 01.19.14 at 10:49 am

Hi Garth. I feel great empathy for what you are going through as I broke my right ankle a few years ago followed by my left tibial plateau a year later. I was diagnosed with ADHD a year after that at the age of 40, all those countless times I lost concentration finally caught up with me in a physical way. As an expert leg breaker I wanted to give you some practical advice to ease your recovery. Try to get some forearm crutches like Walt Jr. On Breaking Bad used. They are standard issue in Europe as they are much safer and more convenient to use than the underarm version which are suicide on stairs. It”ll take a few days to build up your forearm strength but you”ll win most arm wrestles after that. Do not hestitate to go to the hospital if you feel a deep muscle pain or cramp in the broken leg. Could be a blood clot (deep vein thrombosis). Happened to me with the plateau fracture. Unfortunately, they nothing when I went to emerg but I ended up with a pulmonary embolism due to the misdiagnosis. Almost left my wife alone to raise six kids. Make sure to get out as much as possible although this icy weather doesn’t help. If your right leg is in a cast you can learn to drive very quickly with your left foot, just practice in an empty lot until it’s automatic. It”ll keep you and your wife sane. Going through this makes you appreciate all you have been blessed with while at the same time learning to love your neighbour who is suffering. You articulated this beautifully in your previous post. Keep well my friend.

#244 frank le skank on 01.19.14 at 11:03 am

RBC reducing some of its fixed rates. Seems like they are not taking the negative economic data from December very lightly.

http://www.canadianmortgagetrends.com/canadian_mortgage_trends/2014/01/rbc-trims-fixed-rates.html

#245 srv on 01.19.14 at 11:23 am

Had a friend with the same issue a few years back… about $5M into it but, only got about $3M (unfortunately listed just before Harper started propping up the dying R/E market)… and it was on a beautiful lot (no frontage like this one though) on the lake, in Lorne Park.

Ugly looking carnage there Garth… best wishes for a speedy and complete recovery!

#246 RockyLal on 01.19.14 at 11:24 am

$3.9M….

I wish you a speedy recovery Garth!

#247 Victor V on 01.19.14 at 11:47 am

Let’s not forget the last time one of these auctions went ‘viral’ the results were rather disappointing:

http://www.thestar.com/news/gta/2013/09/22/toronto_trump_tower_unit_receives_belowminimum_bid.html

#248 Victor V on 01.19.14 at 11:49 am

http://www.torontolife.com/informer/toronto-real-estate/2013/09/24/trump-tower-auction-fail/

Schadenfreude-prone locals gleeful over the Trump Tower’s persistent problems got yet more fodder over recently. The owner of a 950-square-foot unit in the not-so-minimalist tower put it up for auction after noticing that 11 other Trump units have been languishing on MLS for months. The condo received a single bid of $550,000—well below the seller’s already-discounted reserve price, and a mere fraction of the $1.6 million that developer Talon International is asking for a similar suite.

#249 Andrew Woburn on 01.19.14 at 1:17 pm

This explains a lot.

“IN my last year on Wall Street my bonus was $3.6 million — and I was angry because it wasn’t big enough. ”

For the Love of Money

http://www.nytimes.com/2014/01/19/opinion/sunday/for-the-love-of-money.html?_r=0

#250 ☢ ☢ ☢ recharts on 01.19.14 at 1:17 pm

Rapidly increasing condo inventory in TO: http://i.imgur.com/RhuDAox.png
Green: condos,
Blue: detached,
Brown and orange Semis and TH.
Pressure? Note the steeped curve for condo inventory in contrast with the slow increasing in the other categories.

#251 AK on 01.19.14 at 2:05 pm

U.S. bankers voice new optimism as businesses line up for “loans”

#252 Entrepreneur on 01.19.14 at 3:57 pm

#198 not 1st on not to criticize our front line medical staff at hospitals.

Agree, my daughter works in a hospital and experiences different patient issues on the floor. Also mentallly-ill patients who should be in another institute.(Security Guard will not go into a room if too dangerous.) Nurses are leaving because it is too stressful or put up with it because of finanial situation. Care-aides are coming in…that is like having your mother looking after you. So much for higher education that the nurses took.

Notice Stephen Harper is on another trip oversees when Canada is too much for him like the Senate Scandal. Another singer (Blue Rodeo) joined Neil Young in supporting the First Nations against the morally-wrong, moon-description oilsands. I will definitly will buy their music. More power to them. I would join them too if I could sing, but, but I can play the recorder.

#253 ronh on 01.19.14 at 4:52 pm

#209

The number 8 is close to the character for life.
Number 4 is death. My house in Coquitlam had two 4s in the street address. Sold to a nice Vietnamese couple.

#254 will on 01.19.14 at 10:48 pm

I’ll say 2 million. The marble and other parts must have some resale/salvage value. Maybe the lot could be divided up and build three normal houses on it. Is there a school nearby? I don’t suppose there is a bus stop down the street. Maybe it could be converted into some sort of apartment building for Humber College students. Then sell it to an apartment REIT.

#255 kk on 01.20.14 at 5:14 am

My guess is $3.28M, sold to a rich dude from Guangdong.

#256 Willy2 on 01.20.14 at 5:17 am

I hope it was not one of those realtors that was the cause of your leg injury. Because I don’t think Mr. Turner is too popular in realtor land.

BTW: I am a gold loving deflationary doomer.

#257 rawinder on 01.20.14 at 10:26 am

That house is ugly enough to be in Vancouver.

#258 Enthalpy on 01.20.14 at 11:24 am

Im sure I wasnt the only one who emailed you this link.
The location is actually quite good. Dont hear the QEW much if at all, and the area is very upscale/nice.

however that battle palace has been fs for YEARS. way over priced, dreaming,off in space.

#259 Victor on 01.20.14 at 3:03 pm

3.5M