The Rouge Woods Real Estate Market is definitely heating up with 22 properties listed on MLS as of this morning, April 6, 2015: 16 detached houses with an asking price range from $929,000 to $1,499,900 and 5 town houses with an asking price from $599,000 to $738,000 and 1 semi-detached with an asking price of $688,800.
Buyers take notice, 50% of these listings are new, they have put on the market in April and 40.9% were put on the market in March. This again tells us that it is a Sellers' Market out there. If you like a house and its location, you may well expect to be in a multiple offers situation.
The best way to deal with it? Establish your budget, how much are you willing to bid for the house of your dreams?... And then stick to your ceiling price, do not go over...or you might later not enjoy your dream home as much as you thought you would.
Another matter to keep in mind are the conditions you will want in the Agreement of Purchase and Sale. Do you need a financing condition? Do you want an inspection condition? are you willing to give up these basic conditions in order to get the house?
Food for thought....
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