Market Review and Update

    Thank G-d for the Ford brothers.

    The Press had enough talk about, and help them sell papers, without having to talk about the Real Estate market, Not that they ever got it right. There has been some "back-tracking"  on the hype about the oversupply of Condos in Toronto, and now are suggesting that there might be a shortage going forward.

    To help explain the Condo market, we must first understand the financing of Condo developers. In the good old days, builders could get financing from the banks, without having any sales in hand. Now, condos must have a healthy list of buyers, in order for the banks can have the confidence in the project.

    • Developers will hold "Preview sessions" and will ask for attendees to register, so that they keep track of prospects, and they will try to get them as buyers. At this point, I would strongly recommend that you let me register you and help you through the buying process. My years of experience will help you get a better deal for your dream unit, than if you worked alone. I cost you nothing, but am "paid" by the developer, even tough I work for you, the buyer. When you "go it alone" you may truly have great negotiation skills, but I know what works, and what doesn't. Many try it on their own, thinking they will win. With nobody working for you, you are truly "outgunned" by the experienced staff on the developers' team. They have heard it all and know where to be flexible. It's like gambling at the Casino. The house always wins!
    • Call me!
    • I'll have more to write about the GTA market next time.

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Marvin Horenfeldt

Marvin Horenfeldt

Sales Representative
CENTURY 21 Heritage Group Ltd., Brokerage*
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