{"id":540949,"date":"2026-03-16T21:49:15","date_gmt":"2026-03-16T21:49:15","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/540949\/"},"modified":"2026-03-16T21:49:15","modified_gmt":"2026-03-16T21:49:15","slug":"over-500k-loss-on-home-once-sold-for-more-than-1-7m-in-brampton","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/540949\/","title":{"rendered":"Over $500K loss on home once sold for more than $1.7M in Brampton"},"content":{"rendered":"<p>Yet another home priced over $1 million has sold for a loss of over $500,000.<\/p>\n<p>Across the GTA and southern Ontario, many homes are selling for well below 2022 prices \u2013 including a 4+3-bedroom, two-car garage home on Cirillo Street in Brampton.<\/p>\n<p>The home was first bought in 2022 for $1.73 million after being listed at $1.97 million, and had since been listed several times. In 2023, a little more than a year after it was bought, the home was listed for $1.79 million.<\/p>\n<p>And after multiple listings in the $1.4 million and $1.5 million range, the home finally sold in March for $1.22 million \u2013 that\u2019s a loss of $513,000.<\/p>\n<p>\u201cYears of listings. Price cuts. No buyers. Now the bank steps in,\u201d\u00a0Real estate watcher @ShaziGoalie said in a post on X that the home was sold under a \u201cpower of sale\u201d \u2013 a type of mortgage clause that permits the lender to foreclose on and sell a property when the borrower defaults on the loan.<\/p>\n<p>Back in August, a home once bought for $1.3 million sold for $469,000 loss in Brampton, while another property bought for over $1.7 million sold at $520,000 loss.<\/p>\n<p>      <img decoding=\"async\" class=\"vidyard-player-embed\" src=\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2026\/03\/1773609792_502_awZCW3rPmWvxPqZHnBCKLu.jpg\" data-videoid=\"790139\" data-uuid=\"awZCW3rPmWvxPqZHnBCKLu\" data-v=\"4\" data-type=\"inline\" data-muted=\"1\" style=\"width:100%\"\/>    <\/p>\n<p>        <img width=\"1024\" height=\"513\" src=\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2026\/01\/Screenshot-2026-01-30-at-1.55.02-PM-1024x513.png\" class=\"attachment-large size-large\" alt=\"\"  decoding=\"async\" loading=\"lazy\" \/>      <\/p>\n<p>The trend isn\u2019t exclusive to Brampton, including homes in Oshawa (sold for a $750,000 loss), Toronto (sold for a $1.65 million loss last month,\u201d and Mississauga (sold for a $425,000 loss) this month.<\/p>\n<p>The average selling price across the GTA is down 7.1 per cent from February 2025 to $1,008,968, according to a report from the Toronto Regional Real Estate Board.<\/p>\n<p>Brampton\u2019s real estate market was heading into a \u201csurge\u201d at the start of the year, with a 64.4 per cent spike in new listings in Brampton (up to 932) in January and a 17 per cent spike in detached home sales in February, up to 170.<\/p>\n<p dir=\"ltr\" lang=\"en\">Years of listings.<\/p>\n<p>Price cuts.<\/p>\n<p>No buyers.<\/p>\n<p>Now the bank steps in.<\/p>\n<p>A Brampton home bought for $1.73M in 2022 just sold under power of sale for $1.22M.<\/p>\n<p>$515,000 gone. <a href=\"https:\/\/t.co\/7GYwjSZIEX\" rel=\"nofollow\">pic.twitter.com\/7GYwjSZIEX<\/a><\/p>\n<p>\u2014 Shazi (@ShaziGoalie) <a href=\"https:\/\/twitter.com\/ShaziGoalie\/status\/2033608273052520719?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\" target=\"_blank\">March 16, 2026<\/a><\/p>\n<p>        <a href=\"https:\/\/www.insauga.com\/editorial-guidelines\" class=\"editorial-guidelines-link d-block mb-4\" rel=\"nofollow noopener\" target=\"_blank\"><br \/>\n            INsauga&#8217;s Editorial Standards and Policies        <\/a><\/p>\n<p>Last 30 Days: 32,622 Votes<\/p>\n<p>All Time: 1,259,756 Votes<\/p>\n<p>    1287 VOTES<br \/>\n    Are you worried you might lose your job in the next 6-12 months?    <\/p>\n<p>\tWIN A $100 GIFT CARD<\/p>\n<p>Subscribe to INsauga\u2019s daily email newsletter for a chance to win a $100 Amazon gift card.<\/p>\n<p>    <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"Yet another home priced over $1 million has sold for a loss of over $500,000. Across the GTA&hellip;\n","protected":false},"author":2,"featured_media":540950,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[194339],"tags":[51759,49,48],"class_list":["post-540949","post","type-post","status-publish","format-standard","has-post-thumbnail","category-brampton","tag-brampton","tag-ca","tag-canada"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/540949","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=540949"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/540949\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/540950"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=540949"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=540949"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=540949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}