Archive for February, 2016

Did There Really Need To Be 15 Offers?

Did There Really Need To Be 15 Offers? Photo

I was involved in a multiple-offer scenario last week, on a condo townhouse in the east end.

The property had a helluva view, and there was no doubt that it was going to attract plenty of interest and receive a bunch of offers.

“A bunch” ended up being an understatement.

There were 15 offers. FIFTEEN!

The property sold for 125% of the list price (it was listed at $409,000 and sold for $510,000).

With so many offers and such a high sale-to-list price ratio, you have to ask yourself, “Did they really need to under-list the property by that much?”

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January 2016 Market Stats: Infographic & Report

January 2016 Infographic

Following is TREB’s market report for January 2016:

Toronto Real Estate Board President Mark McLean announced Greater Toronto Area REALTORS® reported 4,672 residential transactions through TREB’s MLS® System in January 2016.

This result represented an 8.2 per cent increase compared to January 2015.

“It is clear that the handoff from 2015 to 2016 was a strong one. This is not surprising given that recent polling conducted for TREB by Ipsos suggested 12 per cent of GTA households were seriously considering the purchase of a home in 2016. Buying intentions are strong for this year as households continue to see home ownership as an affordable long-term investment,” said McLean.

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Do You Think I Could Fit A Turkey In There?

By on February 9, 2016 in Condos/Lofts, Events, Parking with 0 Comments

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Back in 2012, I wrote about the frustrating fact that builders were making kitchens smaller and less functional than they’d been in the past (read that blog post here). I noted the lack of counter & cupboard space, and I illustrated the difficulty of trying to place a dining room table in a layout where there simply wasn’t enough room for one.

Here we are, four years later, and the trend is still going strong! Prep space and storage are still tight, and European-sized appliances have become the norm.

This becomes quite an issue when I’m working with a buyer who tells me they want to be in a new condo and have a “chef’s kitchen” with all the bells-and-whistles.

Unfortunately, these two features rarely go hand-in-hand. Not unless you’re spending the big bucks!

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