Rents will spike higher due to a lack of new condo inventory coming over the next five years. Actions by the former Provincial Government...
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- MLS overall sales to reach 80,000 sales – 5% less than 2012.
- Average price to rise 2% over 2013.
- New condo sales estimated at 15,000-18,000 in 2013 (down approximately 10% over 2013).
- Condo prices to rise 1-2% over 2013.
10 Tips: Buying
- Hire the best agent in your area – they cost the same as the worst
- Get pre-approved for a mortgage
- Lock into a 5-year mortgage term
- Buy for the long term
- Do not take advice from uninformed, inexperienced outsiders
- Inspect all facilities, all common areas, parking and locker, before making an offer
- Don’t over think the decision
- Put a condition for financing and status certificate review in the offer
- Try to not be influenced by the media
- Establish clear criteria of what you want
9 Tips: Selling
- Hire the best agent in your area. They cost the same as the worst
- List your property for what it is worth plus 1-2% extra for some negotiating room
- Stage your home to look like a model suite
- Do not turn down a single showing – ever.
- Never, ever attend a showing – your house should be vacant. Ideally, your agent should not be there either.
- Pets or children should never be in the property during a showing
- When an offer is good enough, take it – don’t establish stubborn parameters
- The first offer is almost always the best offer you will see
- Do not chisel your agent on commission, you want them motivated. This is the best money you can spend.