Kirby Chan's Blog

A Real Estate Sales Representative Serving Greater Toronto. Search MLS Listings, Find Homes For Sale and Sell Your Home.

What’s Hot in the Real Estate Market?

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There are lots of hot topics in Real Estate today but today I am going to focus on my recent experience with 1 Bedroom Condos in North York.

North York Condominiums are mainly situated on Yonge Street, literally starting at Highway 401 going North past Finch Avenue. What attracts people to this area is the convenience of downtown type amenities without living in the downtown core, and the accessibility of Downtown Toronto just 25 minutes away via the Subway.”.

It’s amazing the amount of demand there is in 1 bedroom condo units in North York. And what’s even more amazing is the limited amount of supply. This is a great scenario for sellers and my advice to sellers are to give me a call to list your condo and we can expect multiply offers in a day or two. Now is your opportunity to move your money into the stock market or buy a house.

Buyers seem like they do not have it as easy as Sellers.

However, this is an even greater opportunity for Buyers. You may be thinking “Now hold on a minute there Kirby”. It’s true; now is a great opportunity to buy, but a little skill is involved. I would rather buy property in the early stages of a rising Real Estate market rather than in a dropping Real Estate market.

Here’s an example of one my recent clients.

He was looking for a 1 bedroom condo unit at 153/155 Beecroft Road last year in October. I stressed one thing to him and that was patience. “Do not get caught up in the bidding wars”, I told him. He should bid what he feels comfortable with and forget about what other people will pay. The 2 units we bid for garnered over 15 offers and we were outbid. In December, however our patience paid off. We found a unit in the same building as the other two. I went to work and bought it for them on its first day on the market. The best thing was that it was at a price that was lower than both of his previous offers on the other units.

Let me represent you when you decide to buy or sell your property. Call me even if you are in the early stages and I can help you with crunching the numbers or providing the research with which you need to make such an important decision.

Are you thinking of Buying or Selling a home and would like to discuss your options?
Contact Me, Just Click Here
or call me directly at (416) 305-8008.

Kirby Chan
Sales Representative
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Keller Williams Real Estate Service
17 Church Street, North York, On

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Author: Kirby Chan

I am a Real Estate Sales Representative servicing the Greater Toronto Area.

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