September is a month of fresh starts and new beginnings, whether that means a return to work after a languid summer vacation, or embracing a new school year with fresh goals and a renewed focus! There was also new territory being traversed in our real estate market this month, as interest rates and inflation had significant curbing effects on what has traditionally been one of the busiest months for buying and selling! As we continue to tumble through Autumn, we’ll be monitoring and reporting on everything related to Toronto Real Estate! And of course, we’ll continue to discuss and debate the many facets of house & home! Bookmark the Urbaneer Blog!
Here is what you’ll find inside our September 2022 E-Newsletter:
This month’s instalment of Dear Urbaneer, was entitled, ‘Dear Urbaneer: What Are Your Tried & True Tips For Competing In A Bidding War?‘ In this piece, Steve responds to a Buyer client who, after completing her due diligence and actively viewing properties over the past 90 days, wonders if participating in a blind bidding war is appropriate for her “a little bit cautious, a little bit conservative” nature, given during her dwell search she’s commonly seen houses in her price point end up in multiple bid situations, and selling for sums well above the list price. She writes: “When I find myself in likely competition with others who are willing to bid exorbitant amounts, my mentality is that I don’t want to waste everyone’s time submitting offers which I know I won’t win – both because my valuation is less, and the top end of what I am willing to pay is going to fall short. That said, I realize that an offer isn’t just about the dollar amount, but that there are other factors that can make my bid attractive – so is it worthwhile to join these bidding wars? Any advice?“. Read on for Steve’s answer!
Steve and the Urbaneer Team post weekly blogs that share our love of all things real estate and that celebrate Toronto! Below are three of our most well-read posts this past month:
The most read post for September was ‘57 Offers On A Scarborough Bungalow Signals Demand Still Strong For Toronto Real Estate‘. If there’s one truth to real estate, it’s that every day the market is changing. So, after a tepid summer of uncertainty, we were gobsmacked when we recently found our Buyer one of 57 bidders on a vintage bungalow. Crazy, right?! Yes, values have been declining on account of the increased carry costs, but properties have still been selling in a reasonable amount of time. For those lacking the 20% down payment necessary to purchase properties valued over $1mil, the recent decline in real estate values wrought by higher interest rates has meant that they – for the first time ever during their dwell hunt – have the opportunity to secure an appropriately sized home in the city with a down payment as little as 7.5% and a CMHC insured mortgage. Buyers have been jumping on these opportunities! Pop over to this blog for a discussion on the current state of Toronto real estate, along with a truly astonishing example of a property bidding war that hints at new market dynamics in motion!
Another popular piece was ‘Exploring Edwardian Residential Architecture In Toronto‘, in which we revisit one of our favourite architectural styles! One of the many benefits of living in Toronto is the beauty of our vintage housing stock. While older residences typically require more maintenance and repair simply because of their longevity, the high-style patina and architectural touches that lend the unique character to these homes are truly immeasurable. In fact, the quality is often far superior to the level of finishes we see in most newly constructed dwellings today. Read on!
We also had a great response to our blog ‘A Weekend Wandering The Danforth East Arts Fair On Sept 17th & 18th‘. One of the best parts of being part of a cool community is being able to participate in events that entertain and inspire – both of which enrich life, no? The Danforth East Arts Fair, held in East Lynn Park, made a triumphant return this September, after a two-year hiatus due to the pandemic. The community event showcases the work of an eclectic mix of local artists in a beautiful outdoor setting, and is a fine way to spend a Saturday or Sunday – noshing on fare from local restaurateurs, celebrating artistic talent, and enjoying live music! (A round of applause for the Danforth East Community Association (DECA), whose dedication and hard work ensure the fair’s success year after year!)
And – for lovers of unique urban spaces – don’t miss our sensational Toronto real estate listed for sale or lease on our site for your consideration!
Browse the September 2022 E-Newsletter here!
We LOVE Toronto real estate!
Steven & The Urbaneer Team
Bosley Real Estate Ltd., Brokerage • (416) 322-8000
http://www.urbaneer.com • email@example.com
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