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Observers’ takes on Toronto’s red-hot housing sector

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Ephraim Vecina | 24 Feb 2017, 08:15 AM Agree 0
Analysts weigh in on the latest numbers surrounding the intensified growth in the Toronto real estate market
  • Jenny L | 24 Feb 2017, 07:00 PM Agree 0
    "A random sample of homes that sold this month alone shows a median selling price of 25 per cent over asking, with not one staying on the market longer than eight days"...come on ppl do your homework, this is happening bc Realtors' sales tactic is to list properties under market value and withholding offers for 7 days hence why properties are sold under 8. I'm not saying the market isn't hot but definitely a misleading quote *tisk tisk Globe and Mail*
  • Oakville Realtor | 26 Feb 2017, 10:37 AM Agree 0
    Homes are being under priced and the media doesn't seem to acknowledge this. The asking price of a home is irrelevant. They are virtually being priced at ($1). The only number anyone should be looking at is the sold price of the most recent comparable sale, and every single sale that happens becomes the next and only useful comparable for the next house to come on the market. All of this $xxx.xx over asking is an irrelevant useless stat. Same goes for the quantity of offers; when you hear there were 80 offers on a property, I can assure you only 10 of them were legitimate offers accompanied by a deposit cheque, with a pre-home inspection done and a desktop appraisal for this specific property.

    Agents are not guiding buyers in regards to which properties they actually have a chance on and what needs to be done to win the property. All of these empty offers do a great job providing leverage to the listing agent and driving prices up even further.

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