Whether you're buying or selling, you know you're going to hear the following: Offer Dates, Bidding Wars, Multiple Offers, and Sold Over Asking. Bidding Wars seem to have become the norm in Toronto's heated Real Estate market. Homes are selling for an average of 100% of asking price, and there is very little room for negotiations. With limited inventory, buyers have shifted their focus from getting a "deal" to making sure you get the home you love. As per the mid month stats released by the Toronto Real Estate Board this week, the strong competition between home buyers in many parts of the GTA has resulted in homes that are priced correctly selling for their asking price or higher in shorter periods of time. On the condo front however, there are deals to be had. The increasing inventory has developers offering incentives that were unheard of in previous years for properties that have been available for some time now. This has also affected selling price in that some of these condos are selling for less now than they did pre-construction. The keys to purchasing your home for the right price or if you want to enter the market with a super deal on a condo is to be prepared and informed. It doesn't always take the highest price to win a bidding war. There are key contributing factors to an offer that can position yours head and shoulders above the rest. The three "pre"s can help you win the war - Prepare, Pre-inspect, Pre-qualify. Today's changing Real Estate landscape requires creative ideas to get your offer to purchase accepted. From a sellers' perspective, to obtain the best deal available you need to apply the same three "pre"s and use creative techniques to build interest and demand. Going into the process informed makes a world of difference. To discuss your home buying or selling needs and create a custom strategy that will position you to win, give us a call at 905-888-6222 and let's get it started!
Posted via email from Markham Real Estate Today with Asif Khan
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