Despite the weekend’s blustery, teeth-chattering weather that kept Torontonians shivering in their winter boots, Buyers were out en masse touring the Saturday & Sunday Open Houses in the hopes something
perfect suitable acceptable habitable would match their budget. One pair of clients was positively giddy to see one especially well-priced contender, until they noticed how the stylish tuque-wearing, latte-drinking mob of buyers in their midst lingered far too long, subconsciously staking out their finder’s claim. Underneath the veneer of social niceties, bottle blond hair and fake fur parkas, everywhere one went, one could feel the bidding wars brewing.
Most every ‘decent’ open house across the downtown core contained a hornet’s nest of buyers, all buzzing under the watchful eyes of the hosting realtors who appeared to discreetly judge which buyers seemed worthy of the address. It put the prospective purchasers on their best behaviour, who politely circulated amongst all wonders of tacky. It had a ‘best of show’ quality. In one house festooned with floral pastel wallpaper and green sculptured broadloom, a line-up of rosy-cheeked buyers cooed their contrived appreciation for the serviceability of a circa 1980s almond kitchen.
In one property teeming with DINKS (double income no kids), a bidding war seemed a forgone conclusion, leaving a palpable tinge of bitterness in the air. In fact, I was quite certain one of the very 30-something couples in our midst would, come offer day, sacrifice their renovation fund to successfully secure this ‘starter home brimming with potential’. Within sixty days at closing, their unbridled enthusiasm will soon be replaced with bewildered resignation as they face, for the foreseeable future, a Kraft Dinner diet prepared in a culinary time warp of chipped formica and oak trim.
In their fight to win the bidding war, a hollow victory may await.
Welcome to House-Hunting in Spring.
However, before you sign off despondent, lamenting how you never thought the hunt for a house would lead you all the way to (a bidding) war, urbaneer.com wants to offer you some insight and reassurance.
Did you know there are Seasons to Real Estate? While there are four distinct seasons in our Canadian climate, the real estate market has but three, each with its own unique characteristics that contribute to the cyclic nature of buying and selling real estate. In our opinion, the months of March and April are critical months where the momentum of demand will cycle to its highest while the supply of good housing stock will be at its lowest. In other words, in the property market we’re about to experience a whole lotta crazy! For a quick lesson on the seasonal dynamics of the Toronto real estate market, click HERE for a copy of our Seasons To Real Estate newsletter.
~ Steven and the urbaneer team
we’re here to earn your trust, then your business.
Steven Fudge, Sales Representative
& The Innovative Urbaneer Team
Bosley Real Estate Ltd., Brokerage – (416) 322-8000
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Have you seen Steven’s newest site Houseporn.ca? It’s his Student Mentorship site on Canadian architecture, landscape, design, products and real estate!
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Tales From The Real Estate Trenches