Nasma Ali @nasmadotali Twitter profile | Pikagi

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Nasma Ali

@nasmadotali

24,200

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115

Following

156

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13,121

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broker & founder @onegrouptoronto part of real broker | $420M+ in sales | engineering background & a decade in corp world before switching to sales

Toronto, Ontario

https://t.co/sSvqp2B9Qj

Joined March 2016

Don't wanna be here? Send us removal request.

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@nasmadotali

Nasma Ali

9 months

I’m an immigrant. We came to Canada in 1985. My dad was able to save on a $6/hr salary working in a boot factory, with a Master’s degree from back home, but speaking minimal English. We lived on the poverty line, yet he saved up enough to buy a duplex in Montreal for $135K in

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@nasmadotali

Nasma Ali

4 months

Only in Toronto does a $100,000 annual salary leave you breaking even at the end of the month after all living expenses.

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@nasmadotali

Nasma Ali

2 years

From a friend who works at a big bank: Thousands have reached the trigger rate and can’t afford their mortgage anymore. Many need to sell & will be renting, as rent is lower than their current interest payments.

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@nasmadotali

Nasma Ali

1 year

Another day another Pre Construction fire insurance claim 👀

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@nasmadotali

Nasma Ali

3 years

I deleted a tweet of a prime example of price decline, because an agent indirectly threatened to get me sued/complain to the real estate board. Go after fraud maybe? If this doesn’t scream we need serious changes to our industry. I don’t know what does.

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@nasmadotali

Nasma Ali

2 years

If you just bought a home in the last few months or yrs, just stop checking home search websites daily & stop reading real estate news. You bought a home, not a stock.

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@nasmadotali

Nasma Ali

1 year

Went to the fam doctor w my little sister. She had a few qs. When she asked her second question the rushed doctor stopped her and said only one issue per visit. We wonder why drs don’t diagnose in time. Our system is broken. But it’s “free” right?

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@nasmadotali

Nasma Ali

2 years

At 1.5% a $500K mortgage with 25yr am = $1,998/month. At 4.5% a $500K mortgage with 25yr am = $2,767/month. Do you really think buyers will now purchase at their max? Everything about this market is pointing to a correction.

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@nasmadotali

Nasma Ali

2 years

So it wasn’t supply after all? It was free money.

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@nasmadotali

Nasma Ali

2 years

If you didn’t buy a house since Jan 2022, you’re already winning.

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@nasmadotali

Nasma Ali

2 years

I deactivated my account for a few weeks due to what had become criminal harassment from multiple accounts. A video of my daughter was used and her name posted. My address was shared. As a single mother, I did not feel safe. /1

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@nasmadotali

Nasma Ali

3 years

Woah very overwhelmed with all the show of support. Thank you everyone. This is the tweet I deleted. And I am now censoring and removing the actual photos/address that is already clearly displayed on a public website. Full transparency is needed in ToRE.

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@nasmadotali

Nasma Ali

4 months

A New Normal for our Market: - Price reductions - No offer dates/bidding wars - No one trying to be a realtor - Asking for showing feedback - No staging - Not selling in a day/week - Being the 3rd agent to try to sell it - Buyers having power - Sellers at mercy of buyers - No

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@nasmadotali

Nasma Ali

8 months

Few reasons I love condo living, especially as a woman: - security person/concierge at front desk - no snow shovelling or lawn maintenance - underground parking - more privacy than a house - no taking out garbage bins - mail/packages don’t get stolen, no theft in general -

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@nasmadotali

Nasma Ali

3 years

Agents posting that their listing sold for $500K over asking in social is totally ok though right? People can’t look up what it was listed for & put 2 and 2 together to figure out sale price? So much hypocrisy and so much censorship.

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@nasmadotali

Nasma Ali

2 years

Client’s variable mortgage two months ago was $4,000/month now it’s $5,100/month. At what point will some home owners feel they can’t afford their house? Rates should have been hiked gradually past two yrs. Def doing some damage now.

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@nasmadotali

Nasma Ali

9 months

National Bank of Canada states we have entered the first “population trap” in modern history.

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@nasmadotali

Nasma Ali

3 years

No point in even having open houses anymore. Ghost town. Reminds me of 2017, not a single soul would show up.

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@nasmadotali

Nasma Ali

4 months

Condos were slow, now houses are slow too. It’s going to be a rough summer. Going to need a lot more than a .25 rate cut to get any real momentum in the real estate market.

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@nasmadotali

Nasma Ali

2 years

I’m hearing stories of appraisals falling short $50-200K. Some on firm deals. No one is really seeing the full picture of what’s really going on. B/w this & buyers wanting to back out of purchases & sellers price dropping. Far cry frm January & last 2 yrs.

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@nasmadotali

Nasma Ali

3 years

We are starting to hear from our buyers that after crunching numbers, due to rising rates, they no longer want to have X max price anymore and need it to be lowered. The ripples starting.

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@nasmadotali

Nasma Ali

2 years

Agents in a hot market: “Prices will always go up, buy now!!” —— Agents in a slow market: “Let’s everybody calm down!!! No need for doom n gloom, it’s alll gooood & under control. We are now in a normal market. You should finally buy and asap!”

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@nasmadotali

Nasma Ali

9 months

Following the last tweet, this is my sweet dad, my brother and I.

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@nasmadotali

Nasma Ali

3 years

Too many stories like this popping up that we haven’t really been seeing the past two years…

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@nasmadotali

Nasma Ali

1 year

Getting about 20X number of sellers wanting/needing to sell vs buyers wanting to buy. Sign of more listings coming to the market, than buyers that will absorb them. Let’s see if this halt of rate hikes will bring back buyer confidence.

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@nasmadotali

Nasma Ali

3 years

Friend of mine who works at a big bank: “Big decline of mortgage applications since last month, all we get now are refinances.” “And so many divorce cases since covid, most can’t keep the properties” /1

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@nasmadotali

Nasma Ali

3 years

And so it begins…

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@nasmadotali

Nasma Ali

3 years

Can’t wait for all 2021 newbie “investors” to dump their houses in the coming months.

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@nasmadotali

Nasma Ali

2 years

That house in Kitchener Waterloo that as listed at $400K ended up with 69 offers and sold for $615,821. My mind is blown not at the sale price but at the number of buyers willing to compete in this market.

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@nasmadotali

Nasma Ali

3 years

Some sellers dying for even a lowball offer now. Buyers and showings are few and far in between.

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@nasmadotali

Nasma Ali

2 years

Buyer’s remorse is real. Even if they can afford the payments, knowing they could have had a better house for 100s of thousands $ less hurts. Thanks to the person who shared this with me. I’m also getting several dms of similar stories plus worried sellers.

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@nasmadotali

Nasma Ali

2 years

All of a sudden RECO sends out an announcement and pretends to care about mortgage fraud after the @cbcmarketplace report.

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@nasmadotali

Nasma Ali

3 years

“Immigration means house prices only going up! 400k immigrants coming!” I think we underestimate how many of them use Canada as a stepping stone to move to the US. 1/3

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@nasmadotali

Nasma Ali

2 years

This time last year, houses were selling within days, w multiple offers, for $100s of thousands above asking & above what it would sell for today. No one last year could have imagined the market tumbling like it has. I still can’t believe it.

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@nasmadotali

Nasma Ali

2 years

Not really inclined to join more Spaces. It is male dominated, fine. I speak for 5 mins & get interrupted. Not looking to be anyone’s punching bag either. I have no ill feelings toward anyone & wish them the best. For now I’ll peace out of Spaces.

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@nasmadotali

Nasma Ali

2 years

The gov spends other people’s money with zero care & due diligence. The app was supposed to be $80K cost turns into over $54million.

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Small Ottawa firm subcontracted ArriveCan app to multinationals, documents reveal

New documents show written agreements between GCstrategies and six other companies to perform work on the ArriveCan app, including KPMG and BDO Canada

www.theglobeandmail.com

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@nasmadotali

Nasma Ali

2 years

Prices peaked in 1989 to $273K then started to decline mercilessly. It took 13 YEARS of decline to get back to that price in 2002. Notably, price bottomed in 1996 to $198K. Yes immigration and yes, price trends up long term. But we are not invincible.

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Nasma Ali

2 years

This agent listed at the peak and responded to us this way when we asked about price expectation. Guess what. The house is still listed now, 4 months later, with several aggressive price reductions. Arrogance is a dangerous game.

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@nasmadotali

Nasma Ali

2 years

A different bank employee friend: “Most, if not all, clients who purchased during the pandemic will hit the trigger rate after Oct 26, even if they bought as early as March.” He has seen some amortizations reach 66 years. 🤯

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@nasmadotali

Nasma Ali

3 years

Has been an absolute pleasure and privilege helping Raptors point guard Malachi Flynn find a home in our beautiful city! Big thank you to Fred VanVleet for recommending us 🙏🏽

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@nasmadotali

Nasma Ali

3 years

More price declines in the 905. I am seeing it real-time, don’t need stats to tell me there are zero showings, zero offers, mass price reductions and relists.

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From the TorontoRealEstate community on Reddit: 905 suburbs mid-April data analysis. Price declines...

Explore this post and more from the TorontoRealEstate community

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@nasmadotali

Nasma Ali

3 years

Starting to think BoC is the mafia.

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@nasmadotali

Nasma Ali

9 months

Leases were flying off the shelf within days, in multiple offers, over asking. Now we are sending emails to all our landlords every week to give them a market update on why their rentals are not leased yet. There is no doubt about it, the rental market is SLOW. And it’s not

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@nasmadotali

Nasma Ali

4 months

Nothing will sell your property like the right price will. No marketing, photos, staging, enticing buyer agent with higher commission, none of this will sell your house if it is over priced in a slow market. Period.

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@nasmadotali

Nasma Ali

3 years

You can hold a house “forever” but not a condo. Here’s why 🧵

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@nasmadotali

Nasma Ali

2 years

Agents recycling my tweets from a few days/weeks ago and tweeting as their own. Priceless 👌🏽

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@nasmadotali

Nasma Ali

3 years

Starting to get sellers reach out to me personally to send me their listings (listed with another agent) to ask me if I have any buyers. Reminds me of a few years back… How the tables have turned so quickly this year… I feel for them.

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@nasmadotali

Nasma Ali

2 years

Just would like to say that @AbeEvreniadis & I have spoken privately & have made peace. Hoping we can move on from this & always be respectful & kind to each other. Thank you everyone for the support and love. I appreciate this community.

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@nasmadotali

Nasma Ali

3 years

This unaffordable market definitely makes it harder for couples to want a divorce or to get out of a problematic relationship.

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@nasmadotali

Nasma Ali

3 years

House in Oakville. Owners bought last year Feb for $1.34mil. They listed a few weeks ago at $1.599mil with a quick offer date. 10 offers came through. It sold for $1.855mil. That is $515,000 in one year. Do you think this is normal?

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@nasmadotali

Nasma Ali

2 years

Let my electric car die twice and now it won’t charge anymore because some small battery is completely dead. No eta for that battery to be shipped here. Just have to wait a few months 😕 Yeah gas is expensive but electric is v inconvenient.

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@nasmadotali

Nasma Ali

2 years

In all seriousness, a big reason some realtors lash out against agents talking about a slow down, is that in many cases they worked with a buyer who may have over paid. And now their buyer is hearing these whispers and feeling upset with the agent.

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@nasmadotali

Nasma Ali

10 months

But it’s “free”. Over 17,000 Canadians have died waiting for surgery or diagnostic scans.

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17,000 Canadians die while waiting for surgery: report | CityNews Toronto

More than 17,000 Canadians have died while waiting for surgery or diagnostic scans in 2022-23, according to research data published Wednesday.

toronto.citynews.ca

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@nasmadotali

Nasma Ali

2 years

From a colleague who works for a builder selling freehold homes in Durham: “Buyers who bought in Jan/Feb are now asking for reduction in price because the appraisal is much lower & they can’t close. Many people are asking for a release from the deal.”

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@nasmadotali

Nasma Ali

2 years

@RE_MarketWatch I really hate to say this but those nails are expensive. And you’re complaining about a dented can? I can’t help but think of the earthquake survivors in turkey and Syria. They would take all this. Without a well manicured hand.

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@nasmadotali

Nasma Ali

2 years

Seeing houses being listed below 2020 prices, after several price reductions. You know there’s motivation when there’s a $100K reduction a week later.

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@nasmadotali

Nasma Ali

2 years

Builders & agents still asking me “So you really think market will go down?” Think? Guys, it’s already down. Q now should be “For how long?”. I ask you now, what do you think will turn this market around? Curious yr thoughts. Other than “immigration” pls.

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@nasmadotali

Nasma Ali

2 years

Less people flipping, less buying second property with heloc, less investors in general. Everyone got their wish now. Market going through a detox.

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@nasmadotali

Nasma Ali

2 years

Think twice and thrice before pulling the trigger on an over priced pre con house in the burbs right now.

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Nasma Ali

2 years

Just got off the phone w another worried seller who’s not getting any showings at all. Not my client. Owns a cottage. Public doesn’t understand what a correction feels like on the ground. Right now on some listings, you can’t *pay* buyers to go see it.

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Nasma Ali

1 year

Man reached out to me, bought 3 pre cons totalling $2.85 Mil. They’re all closing early 2024. He’s a non res & can’t close on any of them. The agent who helped him buy these didn’t say at the time “Btw you may not be able to assign & may not make money” /1

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@nasmadotali

Nasma Ali

1 year

Starting to get more sellers reach out to us than buyers for the first time this year.

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@nasmadotali

Nasma Ali

2 years

I’ve always wondered how someone who earns less than you can coach you on your business. Wouldn’t they help themselves be at that level of income somehow first? So much “coaching” going around and endless pyramid schemes.

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Nasma Ali

2 years

I know you make fun of agents getting awards but I’m pretty damn proud to be number one in this list of 40 under 40 because I turn 41 in August! 😂 (It’s based on largest number of deals for all of Remax in US & Canada in 2021.)

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@nasmadotali

Nasma Ali

9 months

If you’re selling a tenanted house/condo and the buyer says they will live in the house & need the tenant evicted: Don’t just take their word for it, ask them to provide an affidavit stating they or their family will be living in the property for 12 consecutive months. Because

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@nasmadotali

Nasma Ali

2 years

Everyone now got the memo that flipping houses and pre cons is dead for a while.

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@nasmadotali

Nasma Ali

2 years

My agent friend wrote “The real estate market has unquestionably shifted. Most realtors are secretly petrified.” Do you wonder why they won’t speak up and be honest about it? If you don’t admit it out loud then it doesn’t exist.

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Nasma Ali

2 years

When clients are not emotionally attached to a property, we have more power to call the listing agent’s bluff about their final price and walk away. I think with anything in life, it pays to not be guided by emotion.

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@nasmadotali

Nasma Ali

3 years

I immigrated to Canada w my parents. My uni educated dad made $6/hr at a boot factory to support his family of 5. When we grew up, we didn't get financial help from our parents; we helped our parents. I was able to buy property for $430K, without help. /1

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@nasmadotali

Nasma Ali

9 months

Wait times at clinics were also less than an hour back then and classrooms were small. Today’s immigrants, and Canadians, are not so lucky. The strain on our system has been immense and changes need to happen within. We were on the poverty line back then, I can’t imagine if we

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@nasmadotali

Nasma Ali

2 years

Can we just agree we actually have no idea where the market is going? Making statements that it *will* crash is similar to ppl saying “market only goes up”. If your predictions are so accurate why didn’t you predict 2020-2022 growth & get rich? /1

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@nasmadotali

Nasma Ali

2 years

My mom is traveling to Iraq for the first time in a long time and we’re discussing “don’t leave the house, especially not to anywhere crowded, don’t look foreign, don’t tell ppl you’re going”. As much as we complain in Canada, we are pretty fortunate.

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@nasmadotali

Nasma Ali

3 years

My dad passed away a few years ago. With almost nothing to his name. But he worked so hard for us. Left his home country, his family to be a foreigner. Every sacrifice was for us. And now I take care of my mom and sisters. I wish he could see us now. /3

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@nasmadotali

Nasma Ali

2 years

A benefit to having your tenants pay below market rent is that, for the most part, you’ll never hear a peep out of them.

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@nasmadotali

Nasma Ali

3 years

Do agents actually think buyers will offer the same record breaking prices on houses at 4-5% interest as they were on 1-1.5%? At the minimum a temporary plateau has to be expected.

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@nasmadotali

Nasma Ali

3 years

Permanent remote working now is making it concerningly easy for companies to outsource these jobs overseas at a fraction of local salaries.

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@nasmadotali

Nasma Ali

2 years

If you already own & want to move, don’t let this shift bother you. If you sell low, you’re buying low too. And assuming you are upsizing, the percentage drop in volume is more on the buy side. Meaning you’re saving more. See, I can be positive.

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@nasmadotali

Nasma Ali

3 years

62,000 realtors in Toronto and increasing faster than inventory on the market 😂 Would be nice to set the min requirement to Undergrad vs high school diploma for handling the biggest asset of a client's life.

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@nasmadotali

Nasma Ali

3 years

Trigger warning: A very Realtor-y post. I removed the working with the Raptors pinned photo because I think it gives the impression we’d only work high end. When really, we are grateful to work with everyone, no matter the price point - leases too.

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Nasma Ali

2 years

My first 9 mnths as a realtor, I made $2,000. I worked day & night running after lease leads, sacrificed precious time w my kids, only to have every door close on my face. New agents tend to underestimate how little $ they’ll make their 1st yr. And…

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@nasmadotali

Nasma Ali

2 years

I really wish our schools taught our kids about money and taxes from a young age.

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@nasmadotali

Nasma Ali

3 years

According to some people commenting on my tweets, I should stop posting examples in the market. Every time I post anything, some people “Why are you posting this? Why not post xyz? This isn’t accurate. You will confuse ppl.” Kind of getting tired of it.

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@nasmadotali

Nasma Ali

2 years

Most agents the past 2yrs: “The market will continue going up every yr, don’t count on a decline!” A minority of agents the past 2yrs: “This growth is unsustainable & unhealthy & we don’t know how long will last until things inevitably begin to slow down.”

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@nasmadotali

Nasma Ali

2 years

Know that the City of Toronto is now enforcing the 180 nights short term rental maximum allowance. They will investigate you and audit you if they catch you. And it’s highly likely they will. Not even worth taking the risk.

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@nasmadotali

Nasma Ali

3 years

I hear investors say they want to hold onto a property forever. That's fine for freehold. But condos have an expiry date. The condo fee eventually works against your condo value, the building & amenities become dated, competing with "newer models"

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@nasmadotali

Nasma Ali

2 years

From trusted source: “There’s been huge influx of new builders & many agressive banks that easily lent to them are now looking at their books & feeling nervous because bldr has no cash management experience. Cracks starting to show. Things will get ugly.”

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@nasmadotali

Nasma Ali

3 years

These days you need to get on dating apps before home searching apps. Hard to buy on a single income. Sad to say it.

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@nasmadotali

Nasma Ali

2 years

New strategy: Listing a house for $1.3mil even if it’s worth $1.1mil. I then reduce the price a week later to $1.1mil so buyers think they’re getting a good deal and come flocking. It’s the ol’ liquidation fake reduction sales technique. (Kidding.)

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@nasmadotali

Nasma Ali

2 years

Even if a house is properly priced. Even if it is priced at pre pandemic levels. What you don’t understand is: Showings have fallen off a cliff. Almost no buyers out there. How will it sell when no one wants it? Keep reducing till your face turns blue.

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@nasmadotali

Nasma Ali

2 years

Lots of my smart realtor friends rushing to list before June rate hike announcement. We all know it will hurt, few will say it out loud.

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Nasma Ali

3 years

I don’t care if your market is still getting multiple offers and showings. No one and no area will be spared of this slow down. Whether it is temporary or not. We’ll all feel it.

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@nasmadotali

Nasma Ali

2 years

Serious question: If you start to see a professional you use (your accountant, doctor, mechanic, realtor, etc) posting Tiktoks every day (sometimes multiple a day) of them lip synching, pointing at words, or dancing, would that turn you off from using them?

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Nasma Ali

2 years

For the longest time, if buyers waited to buy it only meant prices going up and they’d pay more later. Definitely refreshing for buyers to know they can take their time now. Very foreign concept to Toronto buyers.

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@nasmadotali

Nasma Ali

2 years

Just want to say I really appreciate this little community. So many smart ppl here. I love how replies to my tweets become big complex discussions & take on a life of their own. All the insight, perspectives, dms, recos you all share. Thank you everyone ♥️

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@nasmadotali

Nasma Ali

2 years

Shared on Instagram stories yet needs to be shared here.

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Nasma Ali

1 year

Ten yrs ago you could buy a house in the city for $500K w $25K down. I feel for first time buyers today. Rapid price appreciation is not something anyone should be rooting for. It’s not sustainable & we will all have friends & family trying to buy one day.

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Nasma Ali

2 years

@ronmortgageguy Just want a nice house for my mom to feel stability in, not worry about answering to a landlord or being evicted, or feel like a guest or in transition. She will live with me and I want to make her happy and comfortable. She’s had a hard life and deserves it.

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Nasma Ali

2 years

Many have built up equity in their homes only to take out helocs to undertake renovations or pay off credit card debt. If they sold now, they’d either break even or lose money.

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@nasmadotali

Nasma Ali

3 years

I guess I missed the part in real estate class where we are told never to speak “against” the market in public.

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@nasmadotali

Nasma Ali

2 years

Agents really focusing their newsletters on “debunking Twitter realtors” because their clients are scared 😂 I had no idea Twitter had so much power over sentiment? Here I was thinking it was rates 🤔

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