Toronto Lofts in 2009- The time to buy is NOW!
After showing a great deal of resilience over the past year, the Canadian housing market is cooling. Consumer confidence is low, and homes and condos are taking a longer time to sell.
Despite our lower sales statistics and the almighty prophets of doom, there is no better time to buy the home of your dreams than now! Let’s face it, 2007 was a ridiculously good year for home sales, with some of the most unappealing homes getting two to three offers, driving the price way over asking.
Now home buyers are able to negotiate a reasonable price depending on the length of time on the market, and the appeal of the home. Forecasters are predicting a rebound by 2010 with sales projected to jump up to 9.9% with most of the growth coming in the second half of that year, according to Calvin Lindberg, president of CREA.
With interest rates being at an all time low, inventory at its peak and sellers ready to negotiate, this will be a historical time to purchase real estate in Toronto. Our number of sales is still awesome, and Toronto resale statistics are still hanging in there. This is because our market never overheated, but had a slow and steady increase.
Best advice; hire an expert agent in these economic times to sort through the myriad array of buildings, legal paperwork, and closing procedures. Here are a few duties your agent should be providing:
- Listen to what your needs are and follow through with showing specific properties
- Analyzing and disclosing all aspects of buildings and homes of your choice
- Assist you in educating and securing a new mortgage
- Advise you on the true value of your new purchase adjusting for past sales prices
- Guided information from the time of interest to beyond closing
Purchasing a new home can be exciting and overwhelming at the same time. Depending on your agent, this process can be smoother than expected, making this one of the most memorable purchases of your life.
June 15th, 2009 at 4:55 pm
hi,
i would lie to know what is the starting price for ground floor with the patio, when is it ready, is there indoor parking, also can you email all the layouts and pricing.
July 1st, 2009 at 11:27 am
interesting post, will come back here, bookmarked your site
July 9th, 2009 at 11:22 am
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