In the autumn of 2005, interest rates had reached historical lows for Canada. It was a great time for sellers. Almost any property listed had 3 or 4 offers on the designated day!
The only negotiations I got to do were with my buyer clients.
“How badly do you want this house? With 3 other offers, you’re going to have to pay some $30,000 over the asking. No conditions. Do you really want this house?”
That was what it was like to work with buyers for those years before the “Miller Tax”.
Clearly, the world’s economy is not out of the woods yet, but in Toronto, people are addicted to real estate.
With interest rates this low, lower than in the autumn of 2005, will I be negotiating with my buyers or for my buyers?
Remember, I work in Leslieville, Riverdale and East York in Toronto – and for Toronto, the homes offered represent great value. Sales of homes in these neighbourhoods have not really slowed down as much as others and mostly recently, properties are NOT sitting as I wrote about earlier today.
So stay tuned!
Recent Comments