Are We Back to Bidding Wars + When Should I Sell? - ‘The Situation’ Consumer Q&A

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It’s the February ‘The Situation’, our in-depth consumer Q/A!
As usual, Urmi asks John to respond to the detailed questions you send in about the real estate decisions you are making as you navigate through the Toronto area housing market.
This month, we hear from a buyer who was going to wait to jump back into the market amidst high prices and high interest rates but is now worried about falling behind another market surge and a seller who wonders if they should sell now, in the spring or in the fall - when interest rates might fall. And when it comes to long-term home price appreciation, which is a better bet: Toronto or its suburbs? [See Timestamps below for each topic]
00:00 Intro
01:00 Are We Back to Bidding Wars?
14:55 When Should I Sell?
22:07 Is Toronto or Suburbs Better Investment?
If you would like to send in your questions to be featured on a future episode, please email askjohn@movesmartly.com
If you have a more specific or particular real estate situation to discuss with John and his agents at Realosophy Realty, connect with John at movesmartly.com/meetjohn
Listen to this episode when available on Move Smartly Podcast: link.chtbl.com/movesmartly
If you enjoy our show and find it useful, please share, subscribe and leave us a positive rating on whatever platform you are watching or listening to us from - thank you!
Connect with Us
John Pasalis, President and Broker, Realosophy Realty, Toronto | Email: askjohn@movesmartly.com | Twitter: @JohnPasalis
Urmi Desai, Editor, Move Smartly | Email: editor@movesmartly.com | X-Twitter: @MoveSmartly
About This Show
The Move Smartly show is co-hosted by Urmi Desai, Editor of Move Smartly, and John Pasalis, President and Broker of Realosophy Realty. MoveSmartly.com and its media channels on RU-vid and various podcast platforms are powered by Realosophy Realty in Toronto, Canada.

Опубликовано:

5 июн 2024

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Комментарии : 11

@charmm5298 4 месяца назад

We made the mistake of the 3rd question. We were renting in mid-town (Forest Hill North - Yonge and Eglington) then bought a condo-town in an “up and coming” neighborhood on the west end and while we see the notice boards going up around us of proposed developments, we absolutely HATE it! Our daughter is still in daycare in the old neighborhood and everytime I go pick her up or drop her off I feel such deep regret! The realtor we engaged to try and sell it, was upfront with us and told us to keep it for at least 5 years if we don’t want to lose money on it so I guess we’re stuck here now.

@dashthe6 4 месяца назад

My wife and I are the other side of that equation. We've always bought in the neighbourhoods, and condos/houses that we really like but had less room to appreciate. When we hear about areas that have appreciated alot, we think about what could have been. But we 've always valued our conveniences and lifestyle, so we rationalize it in the end. There's always going to be pros and cons. I hope it works out for you guys in the end!

@charmm5298 4 месяца назад

@@dashthe6We were first time home buyers so we’re calling it a rookie mistake. We’ll know and do better the next go around.

@dashthe6 4 месяца назад

I was in the matket since spring of 2023 and almost every house we made an offer on was a bidding war even all the way into the end of the year. Even fixer uppers and reno jobs ended up in a multiple offer situation. it speaks to the specific area we were looking in, but there were some situations were sellers didn't want to come down in price. And then after relisting multiple times for over 200k less than their original asking price, they finally got into a range where multiple people made offers (albeit still below their asking). Personally, I'm glad to be done with it all. I've moved 5 times in the last 17 years (if you include the temporary rental I've been in for the last 4 months). This is going to be home for at least 20 years (probably....😂)

@jessefaw 4 месяца назад

I think the risk for interest rates is to the upside. Higher housing prices is very inflationary

@alampignano 3 месяца назад

If there are bidding wars, they are either on a handful of properties or just a figment of one's imagination. The market has tanked. People are losing their jobs, interest rates remain high, banks aren't lending, people aren't getting financing once properties are appraised and sellers are holding on to their unrealistic expectations.