Crazy, can you imagine if you read that headline living in the GTA. Hold on, put those brakes on and move forward cautiously. I am not a statistics major, but have a lot of commonsense when it comes to real estate. At first glance I’m like wow, this is crazy great to read. Then I go to look at the area I want to sell in and realize that this is not the case. The house that I planned on selling is actually down about 10 percent. That is a bit scary, especially when you are one of those people that have already gone ahead and bought a place. Now you find out that you have to take a huge drop on your personal property. Yikes !! When the papers are talking about real estate going up 15 percent in the GTA they take into account all prices in all areas.
Some areas are always in hot demand and will get great prices and those areas that are still struggling may not do as well. All these numbers get thrown in together and we come up with 15 percent increase. Remember when you are getting ready to buy or sell to verify what is really happening in your area. Are houses selling fast, is there a demand for a certain product, ie} a bungalow, townhouse etc. ? I know I sound like a broken record since I am always reminding my clients not just to look at headlines but peel away the layers and really see what is really going on.
This kind of reminds me of a story that happened to me last week. A friend of mine called me and said wow, this is crazy all of this snow, how are you coping ? I’m like we didn’t get any snow. In fact I drove from Wasaga (no snow), Collingwood (a bit of snow), Aurora (snowing hard), Toronto Downtown (snowing and blowing), Markham (no snow). So in less than a 2 hour radius we had tons of snow to no snow and yet the forecast was snow all over the GTA and north, yet every little town had its own little weather going on. When I am driving from Wasaga to Toronto , I can experience snow, sleet, ice, rain, wind, and bare roads in one 2 hour drive.
Team Johnston would be happy to meet with you and peel back the layers in your area and see how you can take advantage of the market in your area whether you are buying or selling.