Our Latest Toronto Real Estate Market Update
Our latest video answering the question: How’s the market?
Our video’s talk about what has been happening in the market places over the last two weeks.
It’s not a forecast, no one has a crystal ball but factors do point to certain likelihoods. Don’t believe the ‘timing gurus’ as even Warren Buffett says they are ridiculous.
Our video’s are designed to give you time relevant information about how the market is performing RIGHT NOW. It changes more often than consumer’s realize.
The only MAJOR thing that’s going to affect the current, “thoughtful market conditions” immediately is the expected (not for sure, but expected) Bank of Canada interest hike expected by the end of July. It will cause a ripple…and then it will settle down, it ALWAYS DOES.
We’ll keep you posted once that happens and will add a mini notice, subscribe or check back.
In the meantime, if you believe you will be ready to buy or sell now through to the end of Fall Market, please do yourself a HUGE favour and get a pre-approval.
Pre-approvals and rate holds.
Pre-approvals provide a guarantee at the lowest rate as of the day you get the approval. So beat the Bank of Canada rate increase that’s likely by month end.
Did you know: Many institutions will extend that pre-approval? Pre-approvals take time so pick up the phone and get the ball rolling. You’ll be glad you did.
It certainly feels like the Market has bottomed out in the GTA (freehold homes = NOT CONDOS) because the losses have stopped, we seem thoughtful and balanced.
If you are one of those people who believes they are waiting to time the market….keep in mind, Real Estate is NOT day trading, it’s a longer term hold and its your HOME not just
a commodity. All indicators seem to point to a comfortable move to a freehold and switch out of your condo before we get a LOT of new inventory. Its in the works and will happen.
If being downtown and riding that curve is ok with you and you have the equity to do it, awesome.
If you are new to the market and want to get as much as you can for the cash you have, then get the pre-approval in place. You don’t have to use it…but if you are getting close to being ready…
it’s the wise and a prudent thing to do. It saves you a lot of money in the long term.
Every little bit of savings does count in an expensive market.
The dynamism of the U.S. economy is “unbelievable,” he argued, adding there will be ups and downs in growth but “the U.S. always comes back and wins.” Warren Buffett
This is also very very true of Canada.