The Toronto Real Estate Market continues to be acitve as we head into summer! There are still bidding wars in certain areas but it is strictly product/area driven. The time on the market is increasing as more product comes out and prices are starting to adjust. If you are thinking of listing your home in the near future now might be the time OR NOT. No one can predict what the interest rate hikes and the HST will do to the real estate market. What it will do is reduce consumers spending power which will trickle down eventually to everything we buy or sell. The market is still strong now as some buyers have rate commitments that are expiring soon and they want to move in the summer months. We've seen some more activity in June than May. Email or call us now to assess your situation ASAP!
HOW REAL ESTATE MARKET CONDITIONS AFFECT YOUR OFFER PRICE
HOW DO REAL ESTATE PROS PRICE A LISTING?
If you are buying a home, then, before you decide on whether this home is your dream home, the following checklist will help you look at prospective homes with a critical eye. We suggest printing this page and putting it on a clipboard. When you find a home that really interests you, mark the features you see and note their general condition on this list.
A hot market is a "seller’s market". During a seller’s market, properties can sell within a few days of being listed and there are often multiple offers. Sometimes homes even sell above the asking price. Though most buyers want to get a "deal" on a home, reducing your offer by even a few thousand dollars could mean that someone else will get the home you desire.
A very accurate saying is that "Any home will sell once you get the price right." Of course, this is usually said from the perspective of dropping a price until it's too attractive to pass up. Actually, the accurate pricing of your home prior to listing is as much an art as it is a science.
