Pamela Vasiliu
Sales Representative
pvasiliu@remax.net

RE/MAX Professionals Inc.
Brokerage
Independently owned and operated.

Date: Tuesday November the 21st, 2017 
416-236-1241

 

   

Ballots and baseball complicate the fall real estate market

October 25, 2015 - Updated: October 25, 2015

In Toronto’s capricious fall real estate market, agents have been trying to predict the moves of buyers while also reining in the unbounded optimism of some sellers. This week, with the added suspense surrounding voting night in the federal election and tension-filled Blue Jays baseball games, choosing a deadline for offers – or deciding whether to set one at all – has become even more complex.

Monday nights are not popular among agents who are setting offer deadlines. With voting in the federal election and a Jays playoff game both taking place on Monday of this week, no one was bracing for action in the real estate market.

The denizens of Queen West are avidly following the Jays, a playoff game wouldn’t get in the way of buyers determined to bid on a house.

History shows buyers sometimes hesitate at the time of an election. There’s a certain air of uncertainty.

Sellers cannot depend on a bidding war in the current market – especially if the house lacks any key features.

A local agent, recently worked with buyers who negotiated to pay over $2,200,000 for a house before it actually hit the market.

The buyers had heard through a connection that the house backing onto a ravine would be coming up for sale. The listing agent was contacted who let him and the buyers have a tour in advance of the launch.

The buyers didn’t have much time to think about it before deciding to make a bid at slightly below the asking price.

The home hit the multiple listing service for about 18 minutes.

The couple had been looking for a traditional home in the area for quite some time but ended up with a modern property instead. “his one definitely stood out to them. There’s very little to do to the house.

The buyers also liked the fact that the property provides parking for several cars. Very few things come up so the buyers felt really lucky.

Listings are tight partly because so many people in Toronto have upgraded their houses in recent years that many are now staying put. Incomes have not kept pace with the rise in real estate prices. There’s no more room to upgrade.

New listings are already starting to slow for the fall market and many homeowners thinking about selling will wait until spring.

 

 

Tagged with: junction triangle junction real-estate homes selling buying real-estate roncesvalles high park investing news updates bidding wars fall market
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