More Of The Same In The GTA
Supply continues to lag Demand as Seller's strong grip on the housing market holds firm. Multiple offers and bidding wars remain the norm as Buyers find themselves scratching their heads during the negotiation process. Expectation management is desperately needed to avoid Buyer's Fatigue, and we are providing some helpful tips to avoid frustration.
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Avoid time spent searching MLS for homes that don't fit your budget.
Understand that list prices that seem too good to be true usually are. Consult with your agent and get an understanding of average selling prices in the neighbourhoods you are searching.
Be aggressive when you see something you like. Don't wait until the weekend to book your showing because chances are the property will be sold by then, or there will be a lineup of Buyers with offers in hand.
Gone through multiple bidding wars and can't win one? Have an honest discussion with your Realtor and talk about strategy.
CALL US! We won over 85% of multiple offers situations for our Buyers in 2021.
Changes Ahead?
There have been talks of legislation changes, interest hikes, and new taxes to be implemented, but for the next couple of months, it appears that things will remain status quo. There is an abundance of active Buyers and not enough supply to support their needs. Many Buyers are flocking to pre-construction sales to avoid the madness, but pre-construction sales are skyrocketing and competition is starting to drain that well also.
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