Here it is: issues for October
1. If you're wondering what's going on in terms of pricing in GTA...think "big".
Why? Lack of supply and low rates continue to prop up prices. I'd argue were above in many districts where we saw prices in this past hot spring market.
We just witnessed 23 offers in Allenby on a semi this past week. So are their buyers still out there? Indeed. Is their supply? Not enough. Do the math!
This may be the kind of market where you need an agent who is creative and hard working and has established a steady network with fellow agents. They're not competitors of one another. We actually can work quite well together and secure the interests of our 2 parties.
2. As for flat fee sellers leveraging the MLS system---no real concern. This has been around in the US fore many years and less then 3 percent of the entire market went this way. Bottom line is....I'd still trust a dentist over a welder to fix my teeth. Sellers don't have exposure to negotiating homes. And always valuate their homes well above market value
3. I just sold a house that involved using my network. We located a great property that wasn't listed on mls. A truly great way for a buyer to buy and a great way to stand out amongst the other agents. A win/win if you will. So there are still ways to locate homes in a low inventory area, but it takes time and work!
4. Household debt is huge in Canada these days. With these teaser rates, buyers continue to leverage the rates and may be buying more then they should. So, don't "overbuy". Buy but be prudent! But get into the market.
If you have any questions about the market or just want a second opinion...please get in touch!
Best
http://www.TheSmithsBuyAHouse.com
http://www.PropertiesintheGTA.ca
All the best-
Michael Gruenstein MBA CSC Sales Representative Re/Max Realtron http://www.TheSmithsBuyAHouse.com http://www.Propertiesinthegta.ca Blog:mgruenstein.blogspot.com O:416.782.8882 C:416.271.2066 mgruenstein@trebnet.com
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