Toronto Real Estate and the Savvy Buyer

As I’ve exclaimed before, with historically low interest rates, strong buyer demand and short supply of listings, prices will continue to rise, especially in demand areas of the GTA.

NOW continues to be the operative word in Toronto real estate for both Buyer and Seller. Buyers with the necessary funds are anxious to purchase as soon as possible. They are also more savvy than ever before. Today’s buyers know the market and are aware that in this environment of competition they may have to pay more than the other guy. In other words we are still in a strong seller’s market and will continue to be for some time.

Well, that’s true but I must add that if you are preparing to sell, you must anticipate the strength of the savvy buyer. I believe nowadays if a property is not priced well, the savvy buyer will under bid or ignore the property that is overpriced. That means that sellers who are wooed by the tide of increased average prices year after year and who think they can push the market unrealistically, are in for a potential disappointment.

My philosophy is always to interpret the market potential of a home and to price it appropriately in order to facilitate a sale that reflects current market conditions in a timely manner. This is the best outcome for any seller as it avoids the potential stress and disappointment of a stale listing that could prompt a lower price. It is common today to see properties that have been listed with an offer date – trying to create a bidding war- where the offers were not satisfactory and the property had to be re-listed at a higher price. This can be shock to the seller who was hoping for multiple offers well above the asking price and creates more stress and worry for both the seller and the listing agent. Sometimes the new higher (realistic) price is met and all ends well. But not always. Why take the risk!

Today is actually no different than the past. The same principles always apply. Prepare your house to the best you can afford, determine a fair and attractive market value and don’t try to push the market and be the lucky one who got that vast amount over ask!

I work with homeowners to improve the marketability of their homes in the most cost effective ways. Intelligent and experienced evaluation of the current market coupled with simple improvements will result in a strong sale price.

My efforts help you the seller maximize the full market potential of your home.

Also, I will stage your home for free!

Feel free to contact me at 416-885-0535 or email: norman.hathaway4@gmail.com for a discrete and confidential appointment.

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