2013 Projections and Tips

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For Toronto:

  1. MLS overall sales to reach 80,000 sales – 5% less than 2012.
  2. Average price to rise 2% over 2013.
  3. New condo sales estimated at 15,000-18,000 in 2013 (down approximately 10% over 2013).
  4. Condo prices to rise 1-2% over 2013.

10 Tips: Buying

  1. Hire the best agent in your area – they cost the same as the worst
  2. Get pre-approved for a mortgage
  3. Lock into a 5-year mortgage term
  4. Buy for the long term
  5. Do not take advice from uninformed, inexperienced outsiders
  6. Inspect all facilities, all common areas, parking and locker, before making an offer
  7. Don’t over think the decision
  8. Put a condition for financing and status certificate review in the offer
  9. Try to not be influenced by the media
  10. Establish clear criteria of what you want

9 Tips: Selling

  1. Hire the best agent in your area. They cost the same as the worst
  2. List your property for what it is worth plus 1-2% extra for some negotiating room
  3. Stage your home to look like a model suite
  4. Do not turn down a single showing – ever.
  5. Never, ever attend a showing – your house should be vacant. Ideally, your agent should not be there either.
  6. Pets or children should never be in the property during a showing
  7. When an offer is good enough, take it – don’t establish stubborn parameters
  8. The first offer is almost always the best offer you will see
  9. Do not chisel your agent on commission, you want them motivated. This is the best money you can spend.