April 2015 - Toronto Realty Blog

April 29, 2015 31

How To Buy A Freehold Property For $600,000 In Today’s Toronto

If “thirty is the new twenty,” which I friggin’ hope it is, since I’m turning 35-years-old this summer, then $600,000 is the new $500,000 when it comes to freehold houses in Toronto.

I don’t want to say, flat out, that you can’t get a freehold home for $500,000 in Toronto, but it’s getting tougher and tougher to find houses that are even priced that low, let alone sell for anything close to that.

So if you find yourself in this camp, you’re going to have to make a sacrifice, or two, or three.

Let’s go through a list of items you NEED to evaluate before, and during, your search for an entry-level home in Toronto…

April 27, 2015 18

Business

Bully Offers: The New Wild West

If you’re tired of hearing me say, “I’ve never worked in a market that’s this hot,” then believe me when I tell you that I’m even more tired of saying it.

While the market has been hot in every market cycle for the last decade, the one major difference between the Spring 2015 market and those in the past is the hated-as-it-is-loved, “bully offer,” and how buyers and agents alike are scrambling to deal with them…

April 24, 2015 7

MLS Musings!

More MLS Musings!

This has slowly become one of my favourite features on Toronto Realty Blog.

“Photos of the Week,” an ironic title given I feature it once a month, is funny and all, but what we see on MLS on a regular basis is even better. It’s pathetic, since much of what we see on MLS is supposedly the work of a “professional,” but it’s also incredulous at times.

And what’s more is that I now have fellow Realtors sending me listings which they feel should be featured in here!

Whoever said that Realtors don’t cooperate? Look at all we’ve accomplished here!

April 22, 2015 9

Business

Negotiating In Good Faith?

This blog post is actually going to be a story about a person who was negotiating in bad faith, but I wanted to try and put a more positive spin on it!

When making an offer on a property in Toronto, I’d like to think that the buyer in that transaction is doing so because buying the property is the number-one objective. Simple enough, right?

Well let’s talk today about when an offer isn’t submitted in good faith, and it’s really just a means to an end; a different end, that isn’t necessarily buying the property…

April 20, 2015 9

Condos

Should You Go Into Multiple Offers For “Just” A Condo?

We all know how red-hot the housing market in Toronto is, and how virtually every home in the city under $1 Million ends up in multiple offers.

But when it comes to condominiums in the downtown core, there’s a common viewpoint among buyers that a condo doesn’t necessitate multiple offers the way a house does, or rather, a buyer doesn’t “need” to enter into a competitive bidding situation for “just” a condo.

Well if the spring market so far is any indication, multiple offers on condos are very common place.

So if you’re a buyer, and you’re saying “I won’t go into multiple offers for a condo,” then you’re going to eliminate a LOT of options right off the hop…

April 17, 2015 20

Business

Open The Floodgates!

There’s a reason why this saying has become commonplace in today’s society, and when it comes to a legal precedent, all it takes is one summary judgment that breaks new ground before the flood of subsequent legal proceedings follow.

When it comes to the Toronto condominium industry, eventually, one day, a developer is going to be successfully sued for failing to provide what was “promised” to condo buyers during pre-sales.

And when that day comes, the floodgates will open, lawsuits will pile in, and it might change the way the entire pre-construction condominium industry works in our city…