By: Gavin Chen

SEPTEMBER 2020

Tags: 2020 NEWSLETTER, ROYAL LEPAGE TERREQUITY BESPOKE REALTY, GAVIN CHEN, THE GAVIN CHEN TEAM, TORONTO REAL ESTATE, OAKVILLE REAL ESTATE, MISSISSAUGA REAL ESTATE

Selling your home is a big decision at the best of times.  However, this year, with all its turbulence and uncertainty, many homeowners are understandably nervous about the process.

Most of that anxiety is simply the result of not having the information you need.

If you’re thinking of selling for example, you might be wondering:  How does it work these days?  How do buyers see my home?  How long will my property take to sell?  How much will it likely sell for?

The more good information you have, the less nervous you’ll be.  In fact, when you have all your questions answered and you know what to expect, you might even feel enthusiastic about moving forward with your plans to list.

So, don’t let unanswered questions hold you back from selling your home.  Give me a call.  I’d be happy to fill you in on what’s happening in the local market, answer your questions and give you the advice you need.

Realty Stats: OK...so here is the truth from my perspective.  Real estate news is reporting super strong growth and activity in the market which is true...for freehold houses and townhouses.  We are seeing competition, price growth and housing strengthening in the 416 and 905 and beyond, as buyers look for more value, yards, more square footage and homes they can hunker down in during what could be an extensive COVID induced hibernation/social distancing.  Average pricing is up a reported 20.1% year to date, but this is largely being pushed by more expensive freehold homes.

The condo market is having a tough time currently.  Inventory is growing and prices have dropped and buyers are being more picky.  This is being mirrored in the rental market, as more condos come on market and it is harder to get units leased.  Unfortunately, I foresee further price and rental erosion as the macro factors don't see any major changes on the horizon.  If you are a buyer and sitting on cash, there are and will continue to be great opportunities.  Ours is the only market that buyers sit on the sidelines when things go on sale...think long term and get in the market.  Buy low, sell high..or even better buy low and hold and collect passive income.

If you are planning any real estates moves (investing, buying, selling, leasing, property management), call me for more detailed analysis of your goals, current situation, macro market, your location, property type and timeline.

Foodie Tip:  Have you ever tried frozen grapes?  Have you ever had ice wine?  Then you know that the freezing refines and concentrates the sugars.  For an icy treat, try freezing your grapes before eating.