I was reading an article in the Globe and Mail the other day about setting realistic prices if you’re planning on selling in the GTA anytime soon. As a Toronto mortgage broker, I’ve always thought it was the best policy to find the best rates and terms for my clients so when I saw the article, I thought it would be great to share some of the realistic findings with the people who read this blog.
November is generally the start of the slower part of the year as far as home sales in the GTA goes. However, one of the agents that deals with Beaches properties talked about the advantages of the current economic climate for people looking to get a Toronto mortgage and buy a home soon.
In short, buyers are under no pressure to lay their money down right away. The prices and bidding wars that were all the rage last spring have eased off and in some cases that means sellers have been dealing with a cooling down period when it comes to offers. Some agents and other Toronto mortgage experts are saying this is a trickle down effect from the condo market in Toronto and in fact nothing more than a healthy adjustment as prices find a new equilibrium.
Everyone is saying we all need to wait until the spring to see if there’s a bigger correction underway. Regardless, your Toronto mortgage broker will be there. We’re always at the ready with expert advice and the ability to get you the best deals on the mortgage product that fits your needs and budget. Remember, we’re the professionals that work for you and not the bigger financial institutions so you can rest assured we put you front and center regardless of what the market is doing.