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As July comes to a close, it's clear that the COVID-19 pandemic has shifted the Toronto real estate market into a new set of oscillating dynamics. The lockdown in March 2020 and the necessary precautionary measures froze demand for the first ten weeks as we Torontonians adjusted to our new reality. However, many professionals with children found themselves squeezed for space in their existing residences and quickly began competing to buy 'Forever Homes', driving up prices. Meanwhile, both COVID-19 and the newly-imposed Toronto policies restricting Airbnb rentals impacted the condominium market, particularly the high-rise high-density buildings; this has translated into a more subdued market. Prices are stable right now, but if we're going to see market values drop, it will likely be in these buildings first.
Please do not hesitate to reach out about the state of the Toronto market or guidance regarding all things Real Estate!
Welcome to our July 2020 E-Promo! Here is what you will find in this month's e-newsletter:
For July, our Dear Urbaneer post is entitled, 'Dear Urbaneer: Do You Have Guidance On Property Appraisals & Appraisers In Toronto?' In this installment, we discuss when and why one should hire a property appraiser. Knowing what your dwelling’s true asset value is - based on a data-driven process and comparative analysis - can help you quantify and understand the wealth you have genuinely accumulated in your real estate investment. That said, this sum may not be the amount you will achieve when you list your home for sale, because value (or “worth”) in the context of a sale is dictated by market conditions (i.e. what actively-engaged well-informed motivated Buyers are willing to pay for your property at that specific moment in time relative to the supply and demand of similar properties offered for sale). Ready to appraise? Read more here.
Next, we share our July Homewatch News blog, 'How To Recognize Architectural Design Features That Increase Resale Value'. When you're dwell hunting, there are a lot of factors to consider. Where you choose to buy and what you choose to buy will depend not only on your budget but on how you prioritize the needs, wishes, and wants of you and your household. That said, whatever your ideal property might be, it’s important to not only consider how a home might benefit your lifestyle and meet your wish list but also to consider how it might appeal to future buyers. After all, your home is an investment for the future, and you are more likely to increase your wealth by owning a property that offers the greatest appeal. In this Homewatch post, we discuss five architectural design elements that can have a real bearing on the value of a property. (Likewise, keep them in mind when renovating or building new, and you'll be a step ahead of the cookie-cutter competition when it comes time to sell!)
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, 'WHO Changes Guidance On Possibility Of Airborne Transmission Of COVID-19'. Four months into our new way of living and working, as the world strives to prevent the spread of COVID-19 - and irradicate it - we must admit that what we understand about the pathogen is just in its infancy. While certain bodies have yet to acknowledge any conclusive proof that airborne transmission has played a role in spreading the disease, the debate is gathering steam. Case in point: the World Health Organization published an open letter in which they agreed that there is enough evidence to consider airborne transmission a possibility and advised on how to prevent spread through this method of transmission. Read the highlights - and the implications for real estate - here!
The second most popular post was 'Where To Go & What To Do When You Live At Hip Queen & Dovercourt In Toronto'. Anyone anywhere can say they love to "get out and do stuff", but you can't replicate the frenetic energy, the brisk pace, nor the spontaneity of Toronto! Here, depending on your neighbourhood, easy access provides the gateway to those unexpected daily experiences that enrich the self - body and mind! What I love about Queen West and Dovercourt, is this is where cool intersects with hip - not only because of the bevy of destinations that are a stone's throw from this corner, but because it's surrounded on all sides by some of Toronto’s “IT” neighbourhoods: Liberty Village, the Ossington Strip, and Little Portugal's emerging Dundas West scene. Queen West in particular has a reputation as an influential cultural hub, with global status on setting trends. As far back as 2014, iconic fashion mag Vogue gave Queen West a nod as one of the 15 coolest neighbourhoods in the world (the world!). Check out this great post!
We're proud that our post 'How Urbaneer’s Tailored Toronto Real Estate Marketing Sold This Condo During The 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 July 2020 E-Newsletter here!
We LOVE Toronto real estate!
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