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Would you Bet on a Sure Thing?
There are two parallels with the economy that are unfolding. One is the stock market, and the other is our local Real Estate market. The Dow Jones had an amazing rally that started in July and peaked in mid-August. Below is a graph and for those who like numbers, at the beginning of August the…
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Be like Warren, not like Cynthia and Bob
Look over there, way over there. There is a couple, let’s call them Cynthia and Bob and they are sitting on the bleachers sipping lattes. What is important about this couple? They are Buyers, sitting on the sidelines waiting. Waiting for, well in the words of Dr. Suess…“Waiting for the fish to bite, or waiting…
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Are Bidding Wars still a Thing?
In the past week, Oshawa had 57 properties sell and of those homes, 27 sold for over the asking price. This would indicate that over 50% of the properties sold had multiple bids. It looks like little has changed however when we in dig a bit, we can see that the market slowing down has…
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Has the definition of Luxury Real Estate changed?
When I was growing up many of my friends dreamed of buying a luxury car like a BMW or Mercedes Benz. By the time I was in my late 20’s these cars became as common as Ford F150’s. Leasing and creative financing options allowed regular folk to drive these fancy wheels. Over the last few…
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Raising Rates are like Grounding a Teenager
The average prices are in for July and guess what? The values dropped. Here is what they looked like for detached homes in June over July: Oshawa – June/22 $886,000 July /22 $816,000 (-$70,000)Whitby – June/22 $1,123,000 July/22 $1,097,000 (-$26,000)Clarington – June/22 $999,500 July/22 $909,000 (-$90,500) This should surprise no one who has been following…
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A Tale of Four Houses
It was American Thanksgiving, and I was in Phoenix doing my best to enjoy a turkey dinner whilst recovering from emergency dental surgery. In-between bites, I ended up selling a home in east Oshawa. The Sellers ended up settling a good price which helped them move to a rental and enjoy the equity their home…
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What does July, 2022 and 2008 have in common?
It’s not the average price of a home in Oshawa, Whitby or Clarington. In 2008 the average detached home averaged $283,000. Currently, the average is $993,000. It’s not the price of a litre of gas. In 2008 a litre of gas was about .78 cents and currently, it is floating around $1.80. No, it’s mortgage…
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Buy Sell Love Durham vs. Google
Buy Sell Love for the win! We recently had a client who wanted to escape Durham region and move to an area where homes were much more affordable, lots were oversized, (in town) and the utility costs were dramatically less expensive. We are talking the east coast of Canada. We started helping them get their…
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The Importance of Reputation
“Reputation is like fine china. Once broken, it is very hard to repair.” — Abraham Lincoln On my way to work this morning, I caught an interview with a woman who had a “nightmarish” experience with a moving company. She commented that she found the company doing a google search and did a bit of…
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Helping Agents become better Realtors in Durham Region
I had a newer agent reach out to me, exasperated about how the market has shifted over the past few months. After a few minutes, I realized that they were unsure of how to manage the sale of a property they had on the market.For context, here is the reality of our professional Real Estate…
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