We’re busy beavers! It’s been a full tilt week at Urbaneer with a number of offers being negotiated. Some were low ball offers on our listings that my Sellers felt were a waste of their time, but others came in solidly and are now in their conditional period or have sold firm. Some of our Buyers picked up some very good opportunities too, so we’re all aglow for our happy clients.
We’re guessing the sunshine and warm weather this week put everyone in a good mood and made them more optimistic. It’s a bit astonishing actually, for whatever hesitation Buyers were feeling about the market at the beginning of the month evaporated this week and most everyone got back in the game. Yes, prices have adjusted in the condominium market, but they’re not in the free fall that would have been the result of market stagnation. As we’ve said before, it’s going to be a bit wonky for the next little while, but any aggressively priced property is still going to garner attention.
Nine days ago we wrote about how our Seller’s had now drawn the line in the sand with their list prices, and that there wasn’t much negotiation from this point forward. If they didn’t get their price they’d be putting their properties onto the rental market. Well, one of our condo listings had three low offers since that post, until one of those Buyers returned a second time and submitted a bid that met our Seller’s bottom line. This is typical for the condo market right now. You can read that post about the how the tight rental market is potentially anchoring the sale market by clicking HERE.
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~ Steven and the Urbaneer team
Amusing Ads – Globe & Mail
Tales From The Real Estate Trenches