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While it’s difficult to chart with full accuracy the path that this year’s housing market will take, given the persistence of several economic fundamentals that have historically shaped the market, it’s clear we should expect prices to continue spiking, as a lack of supply plagues the city.
Here are our top blogs of the month, including a recounting of 11 recent sales that received between 19 and 36 offers! Unbelieveable!
Our February Dear Urbaneer installment is entitled, ‘What Do I Need To Know About Buying A Condo Preconstruction?‘ This time, I’m answering a new client who I’ve been working with to hone and pare down her dwelling desires. Currently, she’s exploring the option of purchasing a condominium in the preconstruction phase. She writes: “During my property search, I’ve toured numerous condominiums, but I haven’t been able to find anything that suits my taste, desired layout and budget. I’m thinking about going the preconstruction route as I like the idea of getting a brand new product, but I am a little nervous about buying my home that way when it still has to be built. What should I be looking for when I’m buying a condo preconstruction?” Read my list of important considerations here!
Next, we share our Homewatch News contribution, ‘How To Decide If Multi-Generational Housing Is A Good Fit For You‘. Particularly in urban centers, the combination of high housing prices pushing the bounds of affordability, along with challenges in finding the right home in the right price point and/or location, is causing homebuyers to seek more creative solutions to homeownership. Recent surveys show that interest in multi-generational housing is trending steeply upward! Read more, here!
The Urbaneer Team posts a bunch of blogs each week, where we share our love of all things real estate and Toronto! According to Urbaneer.com’s manthly analytics, our most read blog was ‘Getting On The Bidding War Bandwagon’. So many associations with spring involve movement and energy – “spring forward”, “spring into action” and having a “spring in your step” – for example. Which is why it’s not surprising to discover that spring is traditionally the very busiest time of the year in Toronto real estate. And – when you take an already hot market – plagued with ongoing supply and demand issues, coupled with imminent policy changes to Canada’s mortgage stress test that will increase many buyers’ purchasing power – you’ve got prime conditions for the all-familiar blind real estate bidding war. Here, we detail 11 properties that have garnered anywhere from 20 to 36 offers – all in the past month!
The second most popular post was ‘The Implications Of Moving Toward An Asset-Based Economy‘. Certainly over the past 25 years, anyone who has played the long game of real estate with an eye to the future has been, thus far, rewarded financially. However, by my assessment, a significant reason property owners are netting solid returns today is that property buyers are routinely maxing themselves out with significant debt as part of the privilege of homeownership, subscribing to the belief that values will continue to routinely increase. In this blog, we discuss the vulnerabilities inherent with this movement, as well as implications for society as a whole, even beyond the financial health of individual households.
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 February 2020 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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*Love Canadian Housing? Check out Steve’s Student Mentorship site called Houseporn.ca which focuses on architecture, landscape, design, product and real estate in Canada!