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Sales Storytime: 2 Homes, Same Street, Different Results
The story of two homes that were sold on the same street, and how the results were 180 degrees different. I listed a home for sale that had been owned by the same family for over 60 years. It was in original shape, not in poor condition however it needed upgrading throughout. My guess was…
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When Neighbours are not your Best Friends
A client over the past few weeks had an interesting experience with their property. The home was a bungalow in need of some work and the Seller decided to list it with us and get the property on the market and sold. Prior to getting the paperwork signed and getting the home listed for sale,…
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Deposits: Go big to get the home
If you were looking for advice about a medical issue, you would ask a doctor. With questions about taxes, you would go to an accountant and for issues with your car, you would no doubt ask a car mechanic. (Only after asking Ms. Google for her input.) Stick with me, I am going somewhere with…
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Tortoise and Hare
Sometimes by slowing down, you get more than you dreamed of. Last week we had a very interesting story unfold. We placed a property on the market at an asking price of $850,000. The same model had sold for $820,000 at the end of 2022, so with the market a bit higher currently our target…
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Understanding Real Estate and Investment Cycles
We are 3 weeks into the 2nd quarter and the “fortune tellers,” meaning, the people who sit around tables in coffee shops, chatting in a bar over a beer or even milling about after church service are surprised that their predictions are not coming true. You might be curious what predictions… the ones predicting the…
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Revisiting Predictions – Facts vs. Headlines
I spoke with a Buyer last fall, and they shared with me that they were holding off buying until the market bottomed out. If they gathered information from headlines of the major news media outlets, the Buyer may feel they were relying on accurate information or predictions. Alas, that individual would currently be paying about…
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Go East, Young Man
Let’s talk about home prices. Crazy, expensive, unaffordable and beyond reach. If you are a Buyer looking for a detached home in Riverdale Toronto, (east of the Don Valley and south of Danforth) you would expect to pay an average of $1,714,000 to buy a home. Breaking this down, you would need a minimum of…
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Mortgage Mix-Up. Canada vs. United States
I have learned quite a bit about American mortgages living with a woman who sold Real Estate in Arizona for over a decade. We have chatted at length about the differences between mortgages here in Canada and those south of the border. One of the structural differences is that mortgages south of the border are…
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Standing at the End of a Diving Board
Ok, it’s time to make a few predictions. Let’s review where we are currently to where we were at the market peak in winter 2022. The top of the market for all of Durham Region was February 2022. The average home price at the peak was $1,229,000. As of the end of February 2023, values…
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Houston, We have a Problem
Yikes. It’s mid-March and in a “typical” year this is the time Sellers begin to place their homes on the market. In fact, the surge of properties starts in the third week of February with March being one of the busiest months for Seller’s to get their homes on the market. It may seem odd,…
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