Georgian Bluffs

[Sierra]

Does anyone have the results from the Georgian Bluffs tax sale today?  I was unable to attend the opening.

[mozzy]

59 Tenders, winning Tender $292,000.00 

[pjdd]

Thanks for posting the result 

[Sierra]

Thank you.

I wasn't even close to that.

[bee]

Clearly overpaid for this price.

There are cottages sold just down the road for $312K with building, septic, well + all extra....

Cottages sold:

1) 504443 GREY ROAD 1 ($312K)

2) 504389 GREY RD 1
 (Sold Price:  $432,500.00) with a walk in the jacuzzi tub, ready for  good rental income....


Lots:

1)    13 QUEEN'S BUSH ROAD (Sold Price:  $229,000.00)  Roll# 421051000402813

[butchard]

wow someone had way to much money burning a hole in there pocket's

[Elvis]

There's too much money chasing too little product, which is probably why the wise old men on this site have been so quiet lately.  This article from Manitoulin Island says it all, Toronto money is messing up the entire Ontario market.

https://www.manitoulin.ca/island-real-estate-market-has-been-booming/

[Dave2]

Good observation Elvis.  Great time to be a seller and it looks like we are going to have to review bid pricing strategies if this persists,
but Elvis remember some of the smartest and our most dangerous opponents in the business are the women here.  

The lack of product means that we are getting a bunch of new competitors as well and a decrease in the quality of tax sale properties.  

Anyone know what the next few lower bids were for this one?  Wonder if just one excessive bid or whole market is going crazy?  
Thought something like this might happen on this one and fortunately did not waste my time.

Of course on the next one like this, I will make the same decision and there will be only a few low ball bids, and I will feel like an idiot.

I wonder if the buyer will be rescued by a post bid redemption?

[bee]

Its one crazy bid, most were around assessment values... May be next door mr. Chan Hoo

[butchard]

https://www.realtor.ca/real-estate/21548080/pt-lt-11-jones-range-georgian-bluffs

$299,999 for just under 12 acres same location.   Bidder should of waited.