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While it's clear that the COVID-19 pandemic has shifted the Toronto real estate market into a new set of oscillating dynamics, the annual increase in activity during Toronto's infamous Fall Market seems to be holding true; as we approach September, the number of Sellers readying themselves and Buyers padding the pavement is ramping up. We expect those who've found themselves squeezed for space in their existing residences will continue to compete to buy larger 'Forever Homes', and drive up prices. Meanwhile, both COVID-19 and the newly-imposed Toronto policies restricting Airbnb rentals will continue to dampen the condominium market, particularly the high-rise high-density buildings; anticipate an active but more subdued condo market than is historically characteristic of September, October & November.
Prices are stable right now, but, heading into Fall, we may see numbers follow a steep incline! Please do not hesitate to reach out about the state of the Toronto market or guidance regarding all things Real Estate!
Welcome to our August 2020 E-Promo! Here is what you will find in this month's e-newsletter:
For August, our Dear Urbaneer post is entitled, 'Dear Urbaneer: How Do I Know This Is The Right Time To Buy?'. In this installment, Steve discusses the state of the market and his approach to buying real estate, which involves patience, prudence, and strategy. Here is this month's question: "Having viewed several loft condominiums, I know I'm ready to buy but I'm trying to balance my head and my heart so I make the right purchase. With all the recent headlines about the condominium market being in flux due to the new Airbnb rules and the impact of COVID-19, I want to ensure exercise prudence but also ensure I secure the right home. I know I’m in good hands, but based on what you know about me, how best should I process whether this loft I'm keen on viewing is the right place?" In his response, Steve urges the client to create a personal housing matrix and walks them through the steps of using that matrix to determine if a property is a worthy Buy.
Next, we share our July Homewatch News blog, 'How To Become A ‘Net Zero’ Hero'. Our shelter should be healthy, be easily maintained, produce food and water, cause no pollution, and be entirely self-sustaining. While this is far from the reality we live in at the moment, one such environmentally-friendly choice gaining momentum is the construction of - or conversion of existing dwellings into - 'Net Zero' homes. In this blog, we discuss exactly what 'Net Zero' means and how you might start retrofitting your home to meet Net Zero goals!
The Urbaneer Team posts multiple blogs every week, where we share our love of all things real estate and Toronto!
This month, our most-read blog was, 'The Need And Demand For Live/Work Properties In Toronto'. So far, the pandemic has led to a lot of layoffs, but also the discovery that telework can be very productive. Changes we see in the future related to these changes will undoubtedly include how companies employ people; expect to see companies hire more 'independent contractors' who 'work from home' most of the time, only coming to the company HQ's for team meetings. These contract workers won't have an office to go to, nor will they have benefits or vacation/sick days. They'll basically be self-employed doing the same job but for less money and less security. For these reasons, I believe we're going to see an explosion of entrepreneurial startups and small businesses. But how will we do that if our residences don't allow us to operate our companies from home? Read the highlights - and the implications for real estate - here!
The second most popular post was 'Urbaneer Interviews A Mortgage Broker On Guiding Toronto Real Estate Buyers'. In the past, Urbaneer has discussed the various professionals that contribute to a successful real estate transaction. We've explained the roles of home inspectors, lawyers, and most recently appraisers. So, this month, we asked, 'What exactly does a Mortgage Broker do?' Check out this informative post to hear what Urbaneer's go-to mortgage master, Jake Abramowicz, had to say!
We're proud that our post 'How I’m Navigating The Toronto Real Estate Market During The Covid-19 Pandemic' was also very well-read! In it, we discuss how only the most serious of Buyers are viewing properties for sale given the current state of the City, and how it was therefore critical that we ensured our pricing strategy and marketing program for a recent two-bedroom condo sale were on point. We can assure you, selling real estate amidst a heatwave during a global pandemic is definitely a challenge, and this post reveals how we went about it!
And - for lovers of unique urban spaces - take a peek at all of the sensational slices of Toronto real estate that we've had the pleasure and privilege of selling over the years!
Browse the August 2020 E-Newsletter here!
We LOVE Toronto real estate!
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